A once-sleepy village in the countryside of eastern China celebrated its 50th anniversary Saturday by unveiling an incongruous addition to its skyline: a skyscraper taller than the Chrysler Building. The 74-story Longxi International Hotel towers 328 meters (1,076 feet) above the village of Huaxi and cost 3 billion yuan ($472 million) to build One of the most impressive features is a one-tonne gold statue of an ox, said to be worth $47.2 million. It may model itself on Dubai, but Huaxi is still officially classified as a village. Its original residents, just 2,000 families, have shared in the bonanza of its transformation. Reuters reports that they each have…

China is planning to create the world's biggest mega city by merging nine cities, which are laid around the Pearl River Delta. The scheme will create a 16,000 sq mile urban area that is 26 times larger geographically than Greater London, or twice the size of Wales. The new mega-city will cover a large part of China's manufacturing heartland, stretching from Guangzhou to Shenzhen and including Foshan, Dongguan, Zhongshan, Zhuhai, Jiangmen, Huizhou and Zhaoqing. Together, they account for nearly a tenth of the Chinese economy. Over the next 6 years, around 150 major infrastructure projects will mesh the transport, energy,…

Amit Midha, chairman for Dell Greater China, has revealed at Dell China's performance communication meeting for the second quarter of 2012 fiscal year that due to the growth of its large enterprise business unit and public utilities business, Dell China's revenue increased by 20% during the reporting period.The revenue from Dell China's large enterprise business unit increased by 22% year-on-year, but Midha did not disclose the detailed amount. Midha revealed Dell's large enterprise business unit in Asia Pacific saw 15% increase year-on-year, of which the growth reached 22% in China and 20% in India.Revenue from the public utilities business saw…

Apple will open its first specialty store in Hong Kong on September 24, 2011. According to reports in Chinese local media, the new Apple store will reportedly be located inside the International Finance Center Mall. It has four floors of shopping area and over 200 vendors. The new Apple store can accept up to 40,000 consumers on a daily basis, which is three times as many as its retail stores in the U.S. At the moment Apple has retail stores in Beijing and Shanghai, respectively, in the mainland Chinese market.Following the opening of its first retail store in Hong Kong,…

Croatia highly appreciates China's adherence to peaceful development and its initiative of the Harmonious World idea, said Croatian parliamentary speaker Luka Bebic on Monday. China is playing an increasingly important role in international affairs and Croatia always pursues the one-China policy, Bebic said when meting with Xu Caihou, vice chairman of China's Central Military Commission. He said that Croatia and China have carried out fruitful cooperation in political, economic, cultural and other fields and the armies of the two countries keep stable relations. Croatia is willing to work together with China to further boost the overall cooperative partnership between the…

Lenovo Group, China's largest PC maker, said its goal is to become the world's second largest PC provider by the end of this year. The English newspaper quoted Liu Chuanzhi, the board chairman of Lenov saying that the PC maker will take aggressive action to expand in the international PC market left by its competitors because of strategy adjustment. A few weeks ago, the world's biggest PC maker Hewlett-Packard Corp. said it will spin off its PC sector. Apple Inc's former CEO Steve Jobs resigned. "The Chinese market is the starting point for Lenovo, but it won't be the only…

A list of this year's top 500 Chinese enterprises was revealed in the city of Chengdu in southwest China's Sichuan Province on Saturday. The Sinopec Group was ranked first, with last year's revenues reaching 1.97 trillion yuan (307.81 billion U.S. dollars), followed by the China National Petroleum Corp. and State Grid Corp., whose revenues hit 1.72 trillion yuan and 1.53 trillion yuan last year. The rest of the top 10 was rounded out by the Industrial and Commercial Bank of China, China Mobile, China Railway Group, China Railway Construction Corp., China Construction Bank, China Life Insurance Co. and Agricultural Bank…

In Beijing on Jan. 12 has been held the ceremony on signing the Memorandum of Understanding on International Statistical Training and Cooperation Between Chinese Government and United Nations. Mr. Ma Jiantang, Commissioner of NBS, and Paul Cheung, Director of UNSD, on behalf of Government of the People’s Republic of China and the United Nations, signed a memorandum of understanding on international statistical training and cooperation, and gave important addresses too. Mr. Luo Lan, Member of Party Group and Discipline Inspection Group Leader of NBS, presided the ceremony.Mr. Ma pointed out that China International Statistical Training Center (ISTC) is a training…

The People's Bank of China, the Ministry of Finance, the State Administration of Taxation, the Ministry of Commerce, the General Administration of Customs, and the China Banking Regulatory Commission issued "A Notice on Extending Geographical Coverage of Use of RMB" in Cross-border Trade Settlement. It specifies enterprises in Hebei, Shanxi, Anhui, Jiangxi, Henan, Hunan, Shaanxi, Gansu, Qinghai and Ningxia provinces and autonomous regions will be able to use RMB in cross-border trade settlement as well as the  companies exporting goods in Jilin, Heilongjiang provinces and Tibet, Xinjiang Autonomous Regions, can conduct RMB settlement with trading partners all over the world,…

Bloomberg mobile reported that China's Premier Wen Jiabao said that China's top priority is stabilizing prices and that there is no plan to modify the current economic policies. In an article in Qiushi, the Chinese Communist Party's magazine, Wen wrote that the slowdown in the Chinese economy is within government expectations. Analysts cut growth forecasts for China last month due to continued weakness in the US and Europe, which threatens China's export trade. At the same time, interest rate hikes and other policy restrains on property purchases have slowed demand. "We need to bring down the pace of price increases…