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Press Releases

UPDATE 1-UK's May made decision to delay Hinkley nuclear project -source

The plan by France's EDF to build two new reactors with financial backing from a Chinese state-owned firm was championed by May's predecessor David Cameron as a sign of Britain's openness to foreign investment. But just hours before a signing ceremony was due to take place on Friday, May's new government said it would review the project again, raising doubts...

Source: Reuters

UPDATE 1-China General Nuclear says respects Britain's decision to review Hinkley project

SHANGHAI, July 30- China General Nuclear Power Corp on Saturday said it respects the decision of the new British government to review a nuclear power project in which it would hold a major stake, according to a statement on the company's official microblog. China's foreign ministry did not answer questions faxed by Reuters, referring further questions to...

Source: Reuters

Fosun strikes first Brazil deal with purchase of fund manager Rio Bravo

HONG KONG, July 30- Fosun Group said on Saturday it has agreed to buy Brazilian fund manager Rio Bravo Investimentos, in the Chinese conglomerate's first acquisition in Latin America. Fosun did not disclose the value of the deal, but said in a statement that it expects to take advantage of the "exceptional period of change and economic renewal" taking place not only...

Source: Reuters

China says EU anti-dumping duties are "unjustifiable protection"

SHANGHAI, July 30- The European Commission's imposition of heavy anti-dumping duties on Chinese steel bars is "unjustifiable protection for the EU steel industry," the official Xinhua news agency reported, citing a statement from the Ministry of Commerce. China's steel industry, swamped in overcapacity yet a major employer, has struggled to meet capacity...

Source: Reuters

The completion of phase II factory marked a new start of GAC Motor

GUANGZHOU, China, July 30, 2016/ PRNewswire/-- China's best automaker, GAC Motor, hosted the completion ceremony of the company's new phase II factory in Panyu, Guangzhou on June 28, and launched SUV GS8 and plug-in hybrid sedan GA3S PHEV, taking a step forward to further expand production capacity with much improved efficiency. Last month, a new launched black GA8...

Source: PR Newswire

Bankers Petroleum announces corporate transaction extension

CALGARY, July 30, 2016/ PRNewswire/- Bankers Petroleum Ltd. is pleased to announce that it has finalized an extension for the corporate transaction with affiliates of Geo-Jade Petroleum Corporation pursuant to an arrangement agreement dated March 19, 2016. Accordingly, the deadline to receive the People's Republic of China approvals has been extended to...

Source: PR Newswire

Killing TPP deal will hand China 'keys to the castle,' top US trade rep warns

Failure to ratify the U.S.-led pact won't fix the real problems underlying American anxiety over jobs, U.S. Trade Representative Michael Froman says.

Source: Reuters

China slams higher European steel tariffs as unjustified

BEIJING— Beijing has criticized new European tariffs on Chinese steel as "unjustifiable" protectionism coming just weeks after commerce ministers from G20 nations pledged to promote free trade. Trade disputes over steel have been a point of contention in G20 talks hosted this year by China. China has denied the accusations and said it is working to cut...

Source: The Associated Press

UK and China regulators discuss framework for financial projects

Britain's Financial Conduct Authority and the China Securities Regulatory Commission are cooperating on a regulatory framework for a scheme for distributing fund products in each other's jurisdiction and a proposed London- Shanghai link for trading shares, two people with direct knowledge of the matter said. Britain, home to the EU's biggest finance...

Source: Reuters

China General Nuclear says respects Britain's decision to review Hinkley project

The British government announced on Friday it would review the Hinkley Point C project just hours after the builder, French state-owned utility EDF, voted to approve it, delaying a final decision on the plan just weeks after Britain's vote to leave the European Union ushered in a new prime minister. The Hinkley Point reactor project, which would provide an...

Source: Reuters