Shanghai Songjiang Industrial Zone (Shanghai Songjiang IZ)

Due to problems with the constant velocity cardan joint, Chana Ford Mazda is recalling 125 units of the Volvo S40.

The company will replace the right axle shafts of those cars produced between February 4 and February 19 this year, in case the constant velocity cardan joint comes out and makes the car undriveable.

Chana Ford Mazda has delivered the application to the National Defective Product Administrative Center (NDPAC). If buyers have any concerns, they may call Chana Ford Mazda at 400-678-1200 or go to the web address of NDPAC at dpac.gov.cn.

Agencies and Wang Lei contributed to this story

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Top 5 News From ChinaKnowledge.comChina Unicom, Chunghwa Telecom to set up mainland JVChinese stocks open nearly flat on WedHang Seng Index opens 312 points lower on WedCNOOC inks deal with Qatar PetroleumCNTA relaxes requirements for foreign-invested travel agencies


Sep. 2, 2009 (China Knowledge) - Swiss investment bank UBS AG recently raised its shareholding in China Oilfield Services Ltd<601808><2883> to 5.06% from the previous 4.95%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.




HKEx said that UBS on Aug. 27 bought 1.64 million H shares of China Oilfield Services for HK$11.66 million. The average share price of the transaction was HK$7.12.




On Aug. 26, Baring Asset Management Ltd, a global investment management firm, cut its stake in China Oilfield Services to 4.19% from the previous 5.29%, selling 16.92 million H shares of the Chinese company for HK$122 million. The average share price of the transaction was HK$7.23.




H shares of China Oilfield Services dropped 1.03% to end at HK$6.73 today.


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China's key stock index dropped 0.6 percent Wednesday, weighed down by the prospect of heavy new share supplies after news that Industrial Securities had applied for an IPO while China Shipbuilding Industry made a lukewarm market debut.

The Shanghai Composite Index ended at 3,255.213 points. Losing Shanghai A shares outnumbered gainers by 565 to 310, while turnover slipped to 123 billion yuan ($18.02 billion) from Tuesday's 126 billion yuan ($18.45 billion).

China Shipbuilding Industry rose 12.47 percent from its IPO price to 8.31 yuan ($1.22) in its Shanghai trading debut, lagging analyst forecasts after raising $2.2 billion in China's third-largest IPO this year.

The index has been weighed down over the past week by concerns about rising share supplies.

China's Industrial Securities is planning to raise about 6 billion yuan ($878.75 million) in an initial public offering and submitted an application to authorities early this month, Shanghai Securities News reported Wednesday.

Eight shares to be listed on the ChiNext market for start-up shares accepted subscriptions Wednesday, while six more start-ups have launched initial public offerings.

Reuters

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Top 5 News From ChinaKnowledge.comHong Kong Disneyland expansion deal to be closed soonJPMorgan launches 4th China branch in GuangzhouPraxair establishes JV with SinopecHang Seng Index opens 191 points higher on TueChina Eastern to sell 2 A340s for RMB 590 mlnMay 5, 2009 (China Knowledge) - Hong Kong's retail sales dropped 7.7% from the previous year to HK$20.8 billion in March, according to statistics released by the Census and Statistics Department on May 4, sources reported.

Discounting the effect of price changes, the retail sales volume fell 9.3% year on year.

The sales volume of the car and car accessories industry and experienced the sharpest plunge of 32.6% from a year earlier. Sales of clothes and consumer durables declined 19.6% and 19.1% compared with a year ago, respectively.

The improvement in the stock and property markets since the beginning of this year supported consumption, but unclear prospects of employment and income continued to affect consumer confidence, said spokesman with the local government, adding that the outlook for the retail industry remains gloomy in short term, but that the government will render some support.


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