CSR unit wins $2.1b deal in South Africa

CSR Zhuzhou Electric Locomotive Co, a subsidiary of CSR Corp Ltd, announced on March 17 that it had won a bid to supply electric locomotives in South Africa.

FDI registers healthy growth

Recent economic weakness in China hasn't deterred foreign direct investment, with inflows maintaining robust growth in the first two months of this year, figures from the Ministry of Commerce indicated on March 18.

Virtual cards hit roadblock

China's central bank hit the brakes on burgeoning virtual credit card services and barcode-based mobile payments as competition for the country's Internet finance services becomes cutthroat.

Law applies to online shopping

The revised consumer rights law in China, which includes a seven-day cooling-off period during which shoppers can get a refund for online purchases, may push some small e-retailers out of business, say industry insiders.

Quotable

"The soaring economy and application of information technology, and the changing population structure between urban and rural areas, will push China's express sector to a further division among more sophisticated and segmented markets."

IN BRIEF (Page 20)

Finally, a place to call home

When Angola's 26-year civil war ended 12 years ago, hundreds of thousands of people had been killed, a million had been internally displaced and millions of landmines were scattered throughout the country.

Developers spread their wings overseas

Major Chinese property developers are speeding up their pace of investments in overseas real estate projects.

Machine maker's cogs keep turning

Few companies openly talk about embarrassing mistakes they have made, but LiuGong Machinery Ltd seems to have few qualms about doing so.

Quotable

"China has become the third-largest country by the number of companies listed on NYSE Euronext, following the United States and Canada."

IN BRIEF (Page 20)

Fisheries ride the ebbing tide

Twenty-six years ago when Lin Wei's company arrived in Libreville, capital of Gabon, it planted a sapling outside its offices.