Shanghai Daily: Business - shanghaidaily.com
SICHUAN Changhong Electric Co, China's second-biggest TV maker, has grabbed the lion's share of government-financed home appliance sales in rural areas. China promised to give farmers subsidies, about 13 percent, for buying household electrical appliances, in a bid to stimulate sluggish rural consumption and reduce the rising trade surplus, the Ministry of Finance and the Ministry of Commerce said over the weekend. "We are a major player in the deal and we occupy at least 50 percent shares of the TV sales (in the subsided sales in the rural areas)," Chen Ning, Changhong's vice president, told Shanghai Daily yesterday. Changhong will provide TVs, which costs less than 1,500 yuan (US$202) each, and some mobile phones for the subsidized purchase program. The pilot program will be launched in Shandong, Henan and Sichuan, the three major agricultural provinces, according to Chen. Farmers in the provinces can buy color TV sets, refrigerators and mobile phones with
Crain's Chicago Business Weekly Edition
Profit is rising at Oil-Dri Corp. of America, as cat owners trade up to better, more expensive cat litter. About five years ago, the next big thing in the cat-box business — scoopable litter — accounted for just one-fourth of Chicago-based Oil-Dri's sales. Today, scoopable represents ...
FT.com - World, Asia Pacific
Vietnam has allowed commercial banks to trade US dollars more freely against the Vietnamese dong, given a rising dollar inflow, widening the trading band to plus or minus 0.75% from 0.5%