PetroChina's market value regains top slot
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China's business press carried the following stories on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
PetroChina's market value regains top slot—China Business News
Chinese oil giant PetroChina has surpassed ExxonMobil to reclaim the first place as the world's largest listed energy company with a market value of US$353.1 billion, according to PFC world's 50 top energy companies list.
It took only a year for PetroChina to return to first place which it lost in 2008 when oil prices dropped sharply and investors chose international oil companies such as American ExxonMobil and Chevron–Texaco, because of concerns over the safety of investing in the Chinese firm.
China Telecom's CDMA users target tops 100 million --China Business News
China Telecom, a major Chinese mobile carrier which runs CDMA network, developed by Qualcomm Incorporated of the United States, announced yesterday that it aims to achieve of over 100 million CDMA users this year, one year ahead of schedule, and at the same time promote the development of cell phones.
China Telecom has to get 45 million more subscribers this year to achieve the target to double its CDMA users at the end of 2009. If the target is reached, China Telecom will become the largest CDMA operator in the world.
High demand worsens coal shortage—National Business Daily
China Electricity Council forecast yesterday that coal-fired power plants across the country will consume about 1.6 billion tons of coal in 2010, straining the already insufficient supply of coal.
The coal shortage reoccurred in the late 2009 as the increased coal price forced some power plants to close and cities to ration electricity. The demand for coal in the first half of this year will stay high and the situation is unlikely to change soon.
FDI increase raises speculative capital concern–Economic Information Daily
Statistics from the Ministry of Commerce show China received US$90.02 billion in Foreign Direct Investment (FDI) in 2009, a figure higher than previously forecast. Although the figure is 2.6 percent lower than 2008, it reflects a steady increases in FDI and raises the worries about a surge in speculative capital inflow.
Analysts ascribed the situation to an economic recovery, which took place in the fourth quarter of 2009, and expectation of a weaker dollar and stronger RMB. Analysts also say FDI will be on the rise in the first half of this year.
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