According to reports released by the China Iron & Steel Associate, the country's daily crude steel output fell 9 percent to reach 1.547 million tonnes in 10 days over the mid-September as compared to the previous 10 days of the month.

Steel mills in many areas have been ordered to put control over production in order to accomplish the year-end energy savings target, as the administration slashes the electricity use.

According to reports, Springland International Holdings Ltd., a Chinese department-store hand, has decided to hold an initial public offering in Hong Kong that may kift up around HK$3.7 billion ($477 million) for the firm as well as its shareholders.

As per the sale papers, the retailers may price the stock between HK$4.85 and HK$5.93 respectively in the planned listing this month, which includes 625 million new as well as subsisting scrips.

The news further said that Morgan Stanley is managing the transaction.

According to reports, a major leader in Beijing’s construction industry, Beijing Urban Construction Investment & Development Co Ltd has recently announced in a press release that a wholly-owned subsidiary has successfully acquired the bid for a 17.61-hectare land in Haidian District, Beijing.

Meanwhile, the property developer is all set to invest around RMB 2.8 billion to acquire the D1 and C6-C8 plots in Haidian District.

Further, the land has construction area of around 14.07 hectares and gross floor area of 379,800 square meters.

According to the recent news, Beijing’s trade with Africa is on a move to reach US$100 billion this year as it benefits from investment in mines, farms as well as other factories in the country.

According to the news revealed by the official news agency Xinhua, trade between both the countries increased to 65 percent in the first six months of this year to hit 61.2 billion dollars.

China’s Ministry of Commerce stated that China-Africa trade dropped to US$91.1 billion in the last year, a fall of 14.7 percent from US$106.8 billion in 2008.

According to reports, Hyundai Motor Co. has recently announced in a press release that the company’s monthly sales increased to 70,000 cars in September in China, the world’s most populous market.

Meanwhile, the company has sold around 73,122 vehicles in September this year as compared to 60,828 units in August this year.

However, this was the first tome when Hyundai Motor’s monthly sales were hit 70,000 cars in the country.

During the period of January to September this year, car sales reached 510,500 vehicles in the country.

According to reports, the country's government has sanctioned Taiwan Semiconductor manufacturing Co. Ltd's application to improve its 200-mm fab in Shanghao, China to 0.13-nm technology.

Earlier, the company was limited to 0.25-micron processes in mainland China by the Taiwan's government.

After that, the rules were relaxed to 0.18-micron processes in the fab.

The central government would like to keep leading-edge chip making on the island.

In the meantime, the company's major edge fabs are still in Taiwan.

According to news, Industrial and Commercial Bank of China, the world’s most profitable lender, has announced that the Ministry of Finance and the Central Huijin Investment Ltd, the local investment division of the country’s sovereign wealth fund, China Investment Corp, will completely take part in ICBC’s rights issue plans.

In July this year, ICBC announced that it had secured sanction from the board of directors to lift up around RMB 45 billion through a rights issue in Hong Kong and Shanghai as a move to fill up its capital.

According to fresh reports, North Korea’s commercial transactions with mainland China are likely to make 80% of NK’s international trade in the existing year that doe not include South Korea.

In a statement issued by the LG Economic Research Institute, the exclusion of the third month of this year, trade between North Korea and China has been constantly zooming as compared to the last year.

According to reports, Central Asia has recently announced that it will start meeting a big part of country’s energy requirement by the end of this year, when the first phase of huge 10,000 km long pipeline gets functional.

Moreover, the gas pipeline will include around 15 billion cubic meters of natural gas from Kazakhstan.

The new pipeline is projected to accomplish the government’s target for western region development by pulling in Caspian Sea gas supplies to Xinjiang area. The gas runs pipeline from Turkmenistan and passes via Uzbekistan and Kazakhstan.

While talking to media, the CEO of Nissan Motor Co, Carlos Ghosn said that the company is targeting to double its production capacity in the Chinese market to 1.2 million units by the end of 2012.

This will endorse the company’s earlier targets as improvement in economic condition increases demand.

Mr. Ghosn was talking to media at central China, where the company held a function to launch its second plant in the city.

Mr. Ghosn said, “China is now the second-largest economy in the world, and our ambitions and actions are aligned with the current reality.”