China

CSR Sugar Disapproves Another Bid from Bright Foods

China-Bright-FoodCSR Ltd has again disapproved an approach from China's Bright Food (Group) Co Ltd to acquire its sugar business, revealing that the proposal is not clearly superior to its demerger plans.

CSR had announced it planned to spin off the sugar division last June, which comprises seven sugar mills in Queensland refineries and an ethanol plant. In November, CSR raised $375 million from shareholders to fund the demerger.

Chinese Jittery Over "Asset Bubble" Warnings

Wen-JiabaoGlobal leaders and bankers are in a process to seek firm signs at the Davos forum this week, of China's determination to control the money flow into its economy.

Optimists gainsay that China's high savings rate is a natural process, emphasising on households, who do save a lot, around 30% to 35% of income.

Venus Resources Joins Hands with Chinese Firm in Share Subscription and JV Deals, Shares Jump 31%

mineralOn Monday, the Australian mineral explorer, Venus Resources Ltd. announced that the company has entered into share subscription and joint venture deals with a Chinese company.

On the news, shares of Venus climbed by 19 cents, or 31.67%, to trade at a new high of 79 cents.

China doesn’t need lessons from United States, Says Min Dahong

China-FlagBeijing Association of Online Media Chairman Min Dahong expressed anger over Thursday's speech delivered by Secretary of State Hillary Clinton, saying that it showed a lack of respect for the Chinese nation, which cannot accept conditions when it comes to matters of "national security" or "social stability".

China Exalt Over its Third Navigation Satellite Success

China Exalt Over its Third Navigation Satellite Success

China has successfully launched its third navigation satellite from the Xichang Satellite Launch Centre in south-western Sichuan province, as a part of a project to establish its own global satellite navigation system.

It is the third orbiter launched for the country's independent satellite navigation network known as Beidou, or Compass system.

The agency reports that the system aims at providing navigation, time signal and short message services in Asian and Pacific region beginning in 2012, facilitating both open and authorized services.

Supermarkets Rationing Baby Formula

BabyAll major supermarkets are now rationing baby formula in order to stop its bulk sale, especially to parents in China.

Chinese-New Zealanders have been selling the formula online to Chinese parents who do not want to use formula made in their own country after the 2008 San Lu scandal, in which 6 children died and many hundreds fell seriously ill after consumption of melamine-contaminated formula.

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