China's Stock Markets End Week Down
China's benchmark Shanghai Composite Share Index dropped 2.31 per cent
on Friday, following news that a State Council official had said that
Chinese share prices were soaring far higher than major indices abroad.
The Shenzhen Component Index dropped by 3.03 per cent. Heavy weight
companies saw sluggish growth, while coal producers and airline stocks
all fell, with China Southern, China Eastern and Hainan airlines down
between four and six per cent on the day.
Premier Encourages Russia Investments
China’s Premier Wen Jiabao has urged Chinese businesses to expand their
investments in Russia. Before leaving for an official visit to Moscow,
Wen told the Russian Itar-Tass News Agency that China has set a target
investment total of USD12 bn in Russia by 2020.Chinese companies have
invested in several sectors in Russia, including mining, energy,
electricity, manufacturing, infrastructure, agriculture, fishery and
forestry. Wen added that the two countries should strengthen
cooperation in the fields of machinery and electronics. Part of this
effort will be the China-Russia Machinery and Electronics Product
Council, to be officially unveiled this month. Trade volume between
China and Russia is expected to exceed USD40 bn this year, and state
media says it should double to USD80 bn by 2020.
ICCS Completes Cargo 2000 Audit
The International Cargo Centre Shenzhen has become the first Chinese
business to successfully complete a Cargo 2000 audit for its
ground-handling operations. ICCS, a joint venture between Shenzhen
Airport Co. and Lufthansa Cargo, joined Cargo 2000 last year and has
since invested in staff training and upgrading its operational and
customer service processes, and its quality-management system to cope
with all C2K requirements, including compiling a Cargo 2000 quality
manual. ICCS provides GHA services for 18 airlines, and is the prime
air cargo ground-handling company in the Pearl River Delta.
Last update : Friday, 02 November 2007
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