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China

Intel Starts Work on $2.5 Billion China Chip Plant

From Staff Reports Intel Corp. (INTC), the world's largest chipmaker, said Saturday that construction work already has started on its $2.5 billion chip manufacturing plant in China – its first actual manufacturing plant in Asia. Named "Fab 68," the new Intel chip-manufacturing facility will be "an integral part of our global manufacturing network while bringing […]

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Chinese Banks Go Public to Satisfy Bull Market Demand

By Jason Simpkins Staff Writer China Construction Bank Corp. is gearing up for what is likely to be the world's second biggest public stock offering this year.  The amount the bank expects to raise was not disclosed in the preliminary prospectus released Tuesday.  But based on current share prices it's estimated that the stock offering […]

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Beijing's Finance Minister Resigns

From Staff Reports China's finance minister resigned Thursday, the day after President Hu Jintao criticized finance officials over a lack of integrity, the Reuters news agency reported last week. The precise motivation for Jin's replacement remains unknown, but several Chinese sources have suggested that a sex scandal was his undoing.  According to published reports, the […]

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Government Ready to Intervene in China's Inflation Troubles

By Mike Caggeso Staff Writer China’s growing inflation rate will force government intervention later this year, Su Ning, deputy governor of the People’s Bank of China, said. Inflation hit a 10-year high at 5.6% in July. Food prices — hampered by a lackluster wheat harvest and an outbreak in pig diseases — accounted for 80% […]

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China Sells Record Amount of Bonds to Fund Its Government Investment Arms

From Staff Reports China sold $79 billion in bonds — the world’s biggest bond sale — to help fund a state-run investment company that will help manage its $1.33 trillion in foreign-exchange reserves, also the world’s biggest. China’s Ministry of Finance said in a statement yesterday (Wednesday) that it sold the 10-year bonds carrying 4.3% […]

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China's Crude Oil Imports Surge to Record High

By Jason Simpkins China’s crude oil imports climbed 39% to a record high last month, and Saudi Arabia was the nation’s largest supplier. China’s oil imports have more than tripled in the last five years, and that amount is only going to increase as the world’s second-largest energy consumer tries to keep pace with its growing […]

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China's Mobile Phone Competition Will Escalate as Business Grows

By Mike Caggeso China Mobile Ltd. (NYSE: CHL), the world’s largest cell phone provider, continues to pummel its competition. Last week, the company posted a stronger-than-expected 25% increase in first-half profits, which rose from $3.87 billion to $4.85 billion. And yesterday (Tuesday), China Mobile announced it added a record 5.6 million customers in July, up […]

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China's Blazing Economy Demands Fourth Rate Hike in Five Months

By Jason SimpkinsStaff Writer Desperate to try and cool off an economy that’s grown at 10% or better for four straight years, China’s central bank raised interest rates yesterday (Tuesday) for the fourth time since March. China’s CSI 300 Index has climbed approximately 144% this year, after having already doubled in 2006. However, the nation’s rapid […]

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Fixed Asset Investment In China Rises to $747 Billion, a 26.6% Increase

By Jason Simpkins Investment in China’s fixed assets – factories, property and equipment – increased 26.6% in the first seven months of 2007, fueling concerns that China’s national economy could overheat. In a related development, inflation has reached a ten-year high, putting even more pressure on China’s central bank to raise interest rates, and slow […]

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Virulent Pig Virus Viewed as "Threat" to China, Global Business

From Staff Reports A virulent swine virus is “sweeping” China’s pig population – causing pork prices to spike, and spawning fears of a pandemic that could race through this huge country’s pig farms, according to a report in the International Herald Tribune newspaper. This is a development investors should watch, for if it ends up […]

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ABN AMRO Deal Points to Next Ways to Profit From China

As a global trader interested in aligning my money with the most powerful trends of the day, I’m constantly watching the headlines in search of the latest moneymaking opportunity. I am particularly interested in stories that emblazon the front pages of newspapers everywhere else around the world, but that barely even rate a mention here […]

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China Daily Says U.S. Exaggerates Foreign Trade as Job Loss Source

From Staff Reports Though millions of U.S. workers lose their jobs every month, foreign competition is way down on the list of causes. But U.S. politicians routinely spotlight foreign competition as the key culprit, ignoring some of the real reasons American firms routinely cut back on their work forces – including mismanagement, efficiencies created by […]

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