Sinopec (SNP.NY, 600028.SH, 0386.HK) has received approval from the National Development and Reform Commission to expand annual capacity at its Maoming Petrochemical refinery by 12 million tonnes to 25.5 million tons, China Business News reported. The refinery, which was established in Guangdong province in 1955, will overtake PetroChina’s (PTR.NY, 600...

China will allow just an additional 600,000 tons of refined oil to be imported by private oil wholesalers in 2009, bringing the annual quota to 11.25 million tons for the year, China Business News reported, citing Ministry of Commerce figures. Chen Xiuzhi, a senior economist with the China Logistics Information Center, said the cap was likely to be boosted o...

China's dependence on imports to meet almost half of its annual oil consumption needs is an ongoing cause for concern, a researcher at the Road Traffic Institution under of Ministry of Transportation warned Xinhua. Statistics show China consumed 340 million tons of oil and produced 180 million tons in 2006, meaning between 160 million and 170 million ton...

Rizhao, a port city in northern China’s Shandong province, will spend US$1.49 billion (RMB10.2 billion) building a deepwater dock capable of operating 200 million tons of cargo a year by 2010, Xinhua reported. It took Rizhao 237 days this year to handle 100 million tons of cargo. The port is currently China’s largest for ore imports, its largest ...

The private sector in Jiangsu and Zhejiang provinces is taking on the big state-owned shipbuilding giants in Shanghai. The China Securities Journal takes a look at the main players

The central government plans to speed up the consolidation of state-owned enterprises (SOEs) following the Olympics to meet its goal of forming 80-100 super industry players within 15 months, China Business News reported, citing an article in Qiushi magazine by Li Rongrong, director of the State-owned Assets Administration and Supervision Commission. Li wrot...

Increased sales taxes on large cars from September 1 have caused a short-term spike in sales. But as the Securities Times reports, carmakers and industry experts don’t expect the move to dampen sales in the long-term either.