Beijing

Three Gorges Dam faces 14.5-billion-dollar cost overrun

Three Gorges Dam faces 14.5-billion-dollar cost overrunBeijing  - China's Three Gorges Dam, due to be completed in November, is getting bigger every day on all fronts.

While officially the government said it has spent 180 billion yuan (26.35 billion dollars) on building the 185-metre dam and a reservoir stretching more than 600 kilometres, local critics and foreign observers said the real figure could be more than twice that amount, and that's just in the construction phase.

China comes up with its slowest growth in ten years in Q1

China comes up with its slowest growth in ten years in Q1Beijing, Apr. 16 : Though China''s economy has expanded by 6.1 percent year-on-year in the first quarter of 2009, the quarterly growth is the slowest in the past 10 years as the global financial crisis continues to affect the world''s fastest-growing economy.

It was 4.5 percentage points lower than the first quarter of 2008 and down 0.7 percentage points from the previous quarter, reports Xinhua.

Chin's GDP growth slows to 6.1 per cent

Chin's GDP growth slows to 6.1 per centBeijing  - The expansion of the Chinese economy slowed to a record low in the first three months of 2009, adding 6.1 per cent year-on-year, however, performance was "better than expected" an official said Thursday.

However, China's gross domestic product (GDP) growth rate was 4.5 percentage points lower than in the same period last year and the lowest since the start of quarterly records in 1992. GDP growth was also down 0.7 percentage points from 6.8 per cent in the fourth quarter of 2008.

China, Taiwan to discuss cross-Straits relations

China, Taiwan to discuss cross-Straits relationsBeijing, Apr. 15 : In a bid to improve cross-Straits relations, China''s mainland negotiator Chen Yunlin and his Taiwan counterpart Chiang Pin-kung are planning to hold a new round of talks in April or May.

China successfully launches navigation satellite

China successfully launches navigation satelliteBeijing - China on Wednesday launched a satellite into orbit for use in a global navigation system, the official Xinhua news agency said. A Long March 3C carrier rocked took off successfully from China's space centre Xichan in Sichuan province shortly after midnight, carrying the second satellite for China's Compass navigation system.

NZ Fonterra Group stays in China despite milk scandal

NZ Fonterra Group stays in China despite milk scandal Beijing - New Zealand's Fonterra Co-operative Group will buy up shares from a farm it jointly owned with Sanlu Group, the company at the centre of a milk contamination scandal that killed six children in China last year, state media said Tuesday. Fonterra Chairman Henry van der Heyden said Monday that his company, which already owns 85 per cent of the dairy farm , plans to buy the remaining 15 per cent owned by Sanlu, according to the official Chinese news agency Xinhua.

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