As the new Chinese leadership has been gearing up to double the country’s 2010 gross domestic products (GDP) and per capita income by the year 2020, a stronger China and richer Chinese population could also help to stimulate the lackluster global economy, reports Xinhua news agency.
Far Eastern customs officers and policemen sealed off a large synthetic drugs channel from China into Russia. The illegal substances were shipped inside international postal packages. The drug traffic channel was discovered after a Vladivostok resident was detained while trying to collect at the post office a package from Shanghai, which contained a statue of a raven with drugs hidden inside.
In a bid to increase the urbanization rate of Henan province, one of China's most populous regions, local authorities plan to develop a new urban district to the east of the provincial capital of Zhengzhou.
When Yum Brands announced last month that it expected KFC-China’s fourth-quarter sales to decline 4%, spurring a sharp sell-off in the company’s stock, CEO David Novak attributed it the slump to “the macros”—meaning, the much-discussed sputtering of China’s economic growth.
H&M may have pledged not to “knowingly” use Uzbek cotton in its clothes, but labor-rights campaigners say the Swedish apparel giant isn’t doing enough to support an end to state-sponsored child labor in the Central Asian nation.
Because Uzbekistan is one of the world’s leading exporters of the fiber, much of which winds up in Bangladesh and China, few fashion labels can pinpoint the origins of their wares.
But H&M refuses to take steps to stop companies in its supply chain from profiting from child labor, according to London-based Anti-Slavery International. Worse, the retailer is reportedly buying products from Daewoo, a South Korean company that “explicitly deals” in Uzbek cotton.
China is currently pursuing a very ambitious commercial aircraft development programme, including the production of two medium-size airliners. However, it faces considerable – perhaps even insurmountable – barriers to breaking into this tough and demanding business.
US fast food chain McDonald's Corp told the Global Times Wednesday that it has stopped sourcing chicken from beleaguered Shandong-based Liuhe Group Co, one of the largest chicken suppliers in China, after a Liuhe factory was shut down for selling chickens with excessive antibiotic residues.
Hewlett-Packard, which has reported five consecutive quarterly sales declines, is planning to streamline operations and expand distribution in China, the Chinese-language Economic Observer newspaper reported.
The world's longest high-speed rail service, which starts between Beijing and Guangzhou on Wednesday, is expected to bring huge economic prosperity to towns and cities along its route, creating what officials are calling world-class "city clusters" across Central China.
As China's labor, manufacturing and resources costs continue to rise, Ethiopia, one of the least-developed countries in the world is hoping Chinese companies will consider opening more factories there.
Multinationals operating in China have been setting up factories deep in the interior in search of affordable labor. The drawback: These plants can be more than a thousand kilometers (621 miles) from the coast.
BorgWarner Inc. (BWA- Analyst Report) has recently announced the opening of a production plant at the Ningbo campus, China. The new plant is expected to cater to the rising demand for fuel-efficient systems and technologies in the rapidly growing Chinese automotive market.
Together with the new plant, BorgWarner also inaugurated the Engineering Center at Ningbo, which will be offering research and development, applications engineering and management support. The recent expansion of operations will strengthen BorgWarner’s position as a leading supplier of advanced powertrain solutions in the rapidly growing Asian markets.
The new plant encompasses 177,000 square feet of space. Morse TEC silent chains, roller chains, VCT technologies and engine timing systems will be produced in the plant for the major Chinese joint ventures and domestic vehicle manufacturers. This will also support the production and launch of about 50 programs by the company.
The Ningbo Engineering Center, spanning across 107,000 square feet, will expand the global network of technical centers and improve the company’s capability in introducing new technologies.
BorgWarner started its operation in Shanghai in 1993. It opened the campus at Ningbo in 2006 and expanded the campus later in 2008 with local production of fans and fan drives, which will reduce energy costs by 30% to 60%. The company plans further expansion in the Chinese market with its technologies to improve fuel efficiency, reduce emissions and boost vehicle performance.
BorgWarner is a leading manufacturer of powertrain products for the world's major automakers. The company operates in 57 locations in 19 countries, providing products that are capable of improving vehicle performance and stability along with fuel efficiency and emission levels.
These products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, SUVs, trucks and commercial transportation products. The company’s largest customers include Volkswagen AG (VLKAY), Ford Motor Co. (F-Analyst Report), Toyota Motor Corp. (TM- Analyst Report), and Honda Motor Co. (HMC-Analyst Report).
China’s young phone-maker Xiaomi has teased a possible expansion into Hong Kong. That’s what’s implied in a tweet from the official @XiaomiChina Twitter account, which just said: “Xiaomi is going to launch a new market in [blank] on [blank].”