Baosteel Fears Anti-Dumping Probes
Baosteel said it will cut sales to Europe as the European Union launched its fifth anti-dumping probe against several Chinese steel makers. This year, China's largest steelmaker plans to sell 500,000 metric tonnes to Europe, down 37.5 per cent from a year earlier. At the same time, Baosteel announced it will increase shipments to Africa.
China Telecom Posts Lower Profits
China's largest fixed-line provider China Telecom said its profits in
2007 were RMB 23.7 bn, 13 per cent down on 2006. The number of
fixed-line subscribers fell to 220 million, down 1.2 per cent
year-on-year as more Chinese switched to mobile devices. Broadband
subscriptions reached 35.65 million. Earlier this week, China Telecom
said it had acquired Beijing Telecom for RMB5.56 bn.
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