Shell doubles Sinopec's profit with 10% headcount
0 
Chinese newspapers carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Shell doubles Sinopec's profit with 10% headcount -- www.ce.cn
Royal Dutch Shell claimed the top position of this year's Fortune 500. Shell maintains a worldwide staff of 100,000 people, which is 10 percent of the size of Sinopec. Nevertheless, Shell was able to double the profit of the latter over the past year.
Earlier during the first half of this year when the international crude price was running at a low level for a prolonged period, Sinopec still stuck to its 'original high oil price' policy. Sinopec did this despite other domestic oil companies consecutively altering their pricing policy, an act of monopoly that aroused public revulsion.
Much to the public's disappointment, Sinopec as well as other national oil giants who monopolize the country's oil business while enjoying the providential terms, never stopped its chase after the soaring international oil price. Even "the provisions of anti-price monopoly" exclude the oil enterprises based on their 'irrelevance'.
Under this circumstance, it's not strange that Sinopec was dwarfed by Shell by a margin as big as 100 percent.
AVIC: China needs 3,769 more passenger jets within 20 years -- China Business News
On September 23, the Aviation Industry Corporation of China (AVIC) published its forecast about the Chinese civil aviation market in the following 20 years: from 2009 to 2028, 150 seat-class jets will be the main force in China, and the expanded fleet will need an additional 3,769 passenger jets, including 2,922 super-jumbos.
Meanwhile, Boeing has projected a different vision and thinks that China will need 3,370 new planes by then, in which single aisle jets of 90-200 seats will take up 70 percent of the market share; AVIC deems the 150-seat class jets will only claim 39 percent of the entire market demand, a decrease from the 67 percent registered in 2008.
Windows 7 to help boost the hardware market -- China Business News
The official release of Windows 7 scheduled for October 22 brings a ray of hope to struggling PC manufacturers, as the epoch-making new edition of Microsoft OS will boost the PC output by 10 percent, compared with a 5 percent dip seen this year.
Despite high hopes for Windows 7 from both PC makers and customers alike, some still doubt the potential this new generation of OS may bring. This is because Windows 7 doesn't require a cutting-edge hardware host, unlike the unsuccessful Windows Vista, which requires a very sophisticated hardware environment and consumes a great deal of RAM resource.
Hence, Windows 7's stimulation on the entire PC industry is too early to be guaranteed.
Eximbank won't become public -- news.cnfol.com
Export-Import Bank of China (Eximbank) won't consider an IPO and become public, nor will it become commercial, according to Zhu Hongjie, deputy governor at the Latin America China Investors Forum. However, he did mention that an internal reform will be carried out.
Eximbank is a major channel through which domestic importers and exporters, as well as contractors for overseas projects get their policy-granted financing. According to a source, Eximbank has surpassed the US Import-Export Bank to become world's largest of its kind.
Hebei tire manufacturer wins US anti-protectionism case -- Finance.sina.com.cn
The United States Court of International Trade has acknowledged Hebei Xingmao Tire Company's defense advocates while denying the pledges of the US Department of Commerce. An official with the Bureau of Fair Trade for Imports and Exports at China's Ministry of Commerce expressed satisfaction about this on September 23.
The US court ruled that the US Department of Commerce either scrap the countervailing duties (CVD) or amend its methodologies and procedures of levying anti-dumping duties and CVD on merchandise from China within 90 days.
Comments