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Fare hike planned for Beijing taxis

Fare hike planned for Beijing taxis The new Beijing taxi fare policy will begin on Nov. 25, 2009. One yuan will be added to any trip exceeding 3 kilometers. (Photo:english.cctv.com) Taxi passengers in Beijing will have an extra yuan added to their fares. The move is meant to offset the city's rising fuel prices, as they hit their highest levels in years. The new taxi fare policy will begin this Wednesday on November 25, 2009. One yuan will be added to any trip exceeding 3 kilometers. Beijing...

Climate deal may be more than words

Climate deal may be more than words The world is likely to see a comprehensive global warming deal, instead of a political declaration on Dec 18, when the United Nations climate change summit ends. Leaders from China and the United States yesterday lit up hopes for success at the Copenhagen climate change conference by vowing to look for a comprehensive deal to battle global warming amid dominating expectations that the international community can only achieve a political framework. US...

Guangzhou Auto Show opens to media

Guangzhou Auto Show opens to media Well-known Chinese model Mo Wandan poses beside an Infinity auto at the China (Guangzhou) International Automobile Exhibition on Nov 23, 2009. [Xinhua] The annual China (Guangzhou) International Automobile Exhibition (GIAE) opens to media and professionals today. About 70 manufactures are showing over 700 vehicles, and more than 600 parts and accessory manufacturers are participating. The theme of GIAE 2009 is "Technology, Trend, Lifstyle". Visitors can find...

NDRC: Natural gas shortage relieved

NDRC: Natural gas shortage relieved The situation of gas shortage has been eased, the Development and Reform Commission (NDRC), China's top economic planner, said in a statement posted on its website Monday. A surging gas demand after the uncommon freezing weather has caused gas shortage in China's central and eastern regions, and the government is taking emergent measures to tackle this issue, Zhang Guobao, vice minister with the NDRC and director of the energy bureau, said Monday. An...

Banks warned of big volatility in lending

Banks warned of big volatility in lending China's banking regulator on Monday asked the country's commercial banks to better manage risks and avoid year-end volatility in lending. Commercial banks should ensure that lending increase was kept in a stable and sustainable pace, the China Banking Regulatory Commission (CBRC) said. Financial institutions with low capital adequacy ratio and no practical remedy plans would face restrictions in various sectors such as overseas investment, branch...

Automobile industry flexing muscles

Automobile industry flexing muscles China's prosperous auto revolution will influence the look, design and type of car everyone will be driving in the not-so-distant future. The world's largest market has always determined the type of vehicles we drove and for more than 50 years America was king of the road. Industry veterans recall those happy days of glistening chrome, winged chariots and high horsepower, but as Europe, Japan and South Korea joined the US as cradles of mass production, cars...

Auto aftermarket attracts big players

Auto aftermarket attracts big players China is the world's fastest-growing lubricant market, with demand expected to increase 3.5 percent annually through 2013. [Asiannewsphoto] Fei Manqing realized early that a partnership with a leading global brand can be a shortcut for Chinese small business owners. Fei also entered a market that is attracting many leading multinational companies - China's booming automotive aftermarket sector. Fei signed a contract with ExxonMobil Corp, the world's...

A high-end market for hair accessories

A high-end market for hair accessories Shiamas helps Alexandre Zouari Paris open new outlets. [Asiannewsphoto] Chinese women enjoy strong purchasing power when it comes to luxury hair accessories, according to an agent for a top French brand. They are often the quickest to respond to hair accessory designs by Alexandre Zouari Paris, Alice Wong, general manager of the accessories division of Hong Kong-based Shiamas, told China Business Weekly. Shiamas serves as the international agent for hair...

New costs anger homebuyers

New costs anger homebuyers Workers clear waste outside Xinbao building on Thursday. [China Daily] A group of homebuyers have been slapped with a total of 10 million yuan in additional costs after the developer miscalculated the floor space of their Beijing apartment building. Homeowners are threatening to sue well-known Taiwan architect Chuang Yao-shan, who designed the Xinbao Riverbank Manor in southern Beijing's Xuanwu district, and investment company Xinbao Property Development...

Chinas Jan-Oct premium income tops $137b

China's Jan-Oct premium income tops $137b China's premium income hit 936.09 billion yuan (137.1 billion U.S. dollars) in the first 10 months, according to China Insurance Regulatory Commission. The figure represented an increase of 78 billon yuan, or 9.09 percent, over that in the first nine months. During January to October period, premium of property and casualty insurance was 243.18 billion yuan, and 692.9 billion yuan, respectively. Total asset of the country's insurance sector stood at...