China Marine Food Group Ltd., a China based processor and distributor of seafood products, today announced revenue and net income guidance figures for the year 2010, showing anticipated increases in revenue and net income.

The company is now forecasting 2010 revenues of greater than $80.0 million, based on current sales from China Marine’s existing distribution network of 19 master distributors in seven provinces throughout China. The forecast anticipates strong performances from the sales territories of Jiangsu and Shanghai, plus continued growth in Guangdong and the Sichuan area, including the cities of Chengdu and Chongqing. China Marine also plans to launch a number of new products, as well as add new sales territories to their network, and secure product placements at additional retail food chains with the company’s Mingxiang® brand seafood snack foods.

In addition, higher sales, together with stable margins and improved efficiencies due to production line capacity increases, are expected to

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Pepsi has recently opened its new plant in Chengdu, the capital of Sichuan province, marking a new stage for the company's development in China's southwestern areas. Ken Newell, the chairman for Pepsi China and president of Pepsi Greater China, told local media that the company is very confident in the development of China's southwestern areas and [...]

Industrial gases and specialty chemical company, Air Products and Chemicals Inc. (APD) has forayed into the Chinese liquefied natural gas market (LNG) by signing an agreement with Technip to supply Air Products’ LNG process technology and equipment for an LNG project in Yinchuan, China. Technip is a world leader in project management, engineering and construction for the oil & gas industry.  Air Products’ technology will be vital for Technip’s two liquefaction trains each producing 400,000 tons of LNG per annum for Ningxia Hanas Natural Gas Company, Ltd. Ningxia Hanas, formerly known as Yinchuan Natural Gas Company, is mainly engaged in city gas, gas supply to industrial and commercial users, gas heating, gas-fired power generation, gas-fired cogeneration, and environment protection. The units are targeted to be completed in the second half of 2011.  Other terms of the agreement were not disclosed. Air Products has also signed a ...

China Unicom (CHU) yesterday announced that it will initiate commercial trials of its 3G wireless network in 168 more Chinese cities from August 1. This will expand the total nationwide coverage to 268 cities as the second largest Chinese wireless carrier has already launched 3G trials in 100 cities. The additional cities will be spread across 18 provinces including Zhejiang, Jiangsu, Fujian, Sichuan, Yunnan and Hunan.   Following the overhaul of the Chinese telecom industry, the Chinese government issued three 3G licenses in early 2009 and awarded China Unicom the license for WCDMA, a widely adopted 3G technology.   China Unicom has launched commercial trials of its 3G services in 56 cities (including Beijing and Shanghai) in May 2009 and recently extended that to 44 more cities. The company plans to spend RMB110 billion (US$15.9 billion) in 2009, with the significant increase (approximately 56% year over year) primarily attributable

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Madrid, Spain

Two important headlines this morning, both of them fraudulent:

“Chinese economy bounces back,” says one headline in theInternational Herald Tribune.

“JPMorgan profit soars despite downturn,” says another.

The average reader or TV viewer will go no further. “Ah,” he says to himself, “good news; the worst is over. China is a green shoot as big as the Amazon. And JPMorgan is a leader in the financial sector. If the financial sector is doing well, the whole world economy must be doing well.”

But here at The Daily Reckoning, we can’t help ourselves. If we see a silver lining, we look for the cloud. We see garbage…we look for the rat…

We begin with the JPMorgan profit announcement, because it is the most intriguing. Let us set the stage:

In the last half century, credit has expanded faster even than dress sizes. Naturally, this has made the business of hawking credit

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Herbalife Ltd. (...

Following three West-East natural gas pipelines, China is contemplating the fourth one. The proposal is for a four-lane gas pipeline, which is likely to transport natural gas from the Sichuan and Tarim basins in the West to the large potential markets in East China. The first West-East pipeline was completed and commenced its commercial run in 2004; the second is under construction and expected to be completed by 2011; and the third is already proposed but not yet approved by China's National Development and Reform Commission.

The fourth pipeline is a forward step towards the Chinese Government's efforts to promote natural gas as a substitute for coal in power generation. At present, two-thirds of China's electricity generation comes from coal-fired power plant sources that generate tremendous amounts of greenhouse gases and lead to air pollution. To solve this problem, China is planning to increase its natural gas usage from

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Zhengzhou-based frozen food company Sanquan Foods has announced plans to invest CNY500 million to build its southwestern manufacturing base in Sichuan, aiming to increase its market share. According to the report published by the company, Sanquan Foods plans to set up a wholly-owned subsidiary, Chengdu Quanyi Foods Company, with registered capital of CNY50 million. At the [...]

BEIJING, The People’s Republic of China - At a time when the rest of the global auto sales are experiencing their biggest declines in decades - and are set to drop at least 8% globally - the burgeoning China auto market may grow by 10% or more this year.

With steeply rising disposable incomes and savings rates that approach - and in some cases exceed - 35% a year, it isn’t difficult to see why the China auto market is zooming along. But what may be tough for U.S. consumers to picture - especially as they deal with rising unemployment and a nagging economic malaise - is the intensity with which domestic demand is growing here in China.

Autos are more than just transportation here. They’re a symbol of wealth and success - a sexy status symbol. One’s social position can be determined by the type of vehicle one owns and

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When China announced its colossal $600-billion stimulus package back in November, we cautioned investors against irrational exuberance on the overall impact it would have on commodities, stocks and heavy equipment.

Now that the dust has cleared, it appears that the China plan is not entirely as big as advertised — further diminishing the halo effect on the global economy.

When originally unveiled, China’s $600-billion plan proposed a massive infrastructure build-out through 2010 to help create jobs and shift the country away from it’s over-reliance on exports, which have suffered from the global recession.

The announcement was framed as a brand-new initiative. The blueprint China laid out before the world included projects for low-cost housing, airports, roads, highways and aid to farmers. Pundits saw the investment by China as an overnight boom for raw materials, although we took a wait-and-see approach.

Asian stock markets surged on news. Japan’s Nikkei index jumped 5.8% while Hong Kong’s

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