News Digest: Administrative Rules for Automotive Loans

Chapter I General ProvisionsArticle 1 These rules areformulated according to the Law of the People’s Republic of China on thePeople’ s Bank of China, the Commercial Banking Law of the People’sRepublic of China and the Law

News Digest: Lucent looks to China for growth

China will continue to be a key, strategic market for Lucent Technologies as it pushes for sustained profitability, according to Patricia Russo, its board chairwoman and chief executive officer.“China holds great promise for us,” she said

News Digest: Delta-HK ties bring ‘smooth drive for toll-road operators’

The closer economic ties between the Pearl River Delta and Hong Kong, as well as the expanding transportation network within Guangdong Province, underpin solid earning prospects for toll road operators, said Chen Chao, chairman of Shenzhen

News Digest: BOC Q1 profit up 18% on loans

Bank of China Ltd., the nation’s second largest, said first-quarter profit rose 18 percent on higher demand for loans and more fees from selling financial products in the world’s fastest-growing major economy. Net

News Digest: Stockbrokers report 2006 earnings surge

Being the first stockbroker to report its earnings, Orient Securities of Shanghai yesterday posted a 2,256 percent jump in 2006 net profit to 933 million yuan.Pre-tax profit for 2006 amounted to 1.27 billion yuan. Total annual

News Digest: Shenzhen Development Bank net profit surges 129% in 1st quarter

Shenzhen Development Bank said its net profit for the first quarter to March rose 129 percent year-on-year to 535 million yuan (US$69.4 million), “due to ongoing strong business development and efficient management of our spread and

News Digest: Economy stalls, but Google’s 3Q profit still rises

SAN FRANCISCO – The economy is sputtering, but Google Inc.’s profits are still accelerating at a rate that suggests the Internet search leader can remain a marketing magnet even when advertisers and consumers aren’t in a

News Digest: Moutai Q3 profit beats expectations

Kweichow Moutai, the most famous Chinese liquor maker, reported on Friday night a 10.11 percent profit increase in the third quarter from a year ago on booming market demand.The Shanghai-listed company reaped a net profit of

News Digest: China Coal Energy says net profits down 0.5% in H1

China Coal Energy Company Ltd reported its net profits in the first half of this year edged down 0.5 percent from a year earlier to 3.53 billion yuan ($516 million) on squeezed exports.Earning per share was

News Digest: Rising crude prices brings some relief to China Eastern

SHANGHAI: Though Chinese airliners, particularly China Eastern, have managed to trim their hedging losses thanks to recent rise in oil prices, analysts aver that the worst is still far from over for the beleaguered carrier.The Shanghai-based