Guangdong Province News
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China Mengniu Dairy Co., the country’s largest dairy producer, is close to buying more than 51 percent of infant formula maker Yashili International Holdings Ltd., according to two people familiar with the matter.
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China ordered nationwide inspections of preserved-egg plants after media reports that toxic chemicals are being used as additives, the latest in a series of food scandals that have plagued the world’s most populous nation.
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China is surveying soil nationwide to ascertain levels of heavy metals pollution after the discovery of rice tainted with cadmium spurred concern that crops may be unsafe, the official Xinhua News Agency reported.
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Larry Silverstein, redeveloper of towers at New York’s World Trade Center site, said he will expand investment in China and enter Israel for the first time to capture rising demand from wealth built on natural resources.
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Waertsilae Oyj, a Finnish maker of marine engines and power plants, rose the most in three weeks in Helsinki trading after reporting progress with its Chinese ship- engine joint venture.
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Consumers in China are turning to well-known brands from northern provinces and Thai imports after high traces of cadmium were found in some long-grain rice in the country’s south, a commodities analyst said.
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China’s overnight money-market rate dropped for the first time in more than two weeks on speculation the supply of cash will improve as the central bank pumps capital into the financial system.
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Sales of rice from China’s top producing province have slumped amid reports that supplies from Hunan contain traces of cadmium that exceed government limits, a state-owned agriculture researcher said.
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China’s stocks climbed, sending the benchmark index to the highest level in seven weeks. Brokerages rose as trading volumes jumped the most among Asian markets.
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Wal-Mart Stores Inc., the world’s largest retailer, will invest 100 million yuan ($16.3 million) over three years to improve food safety in China as it works to bolster its image after a series of food-related citations.
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