Officials from China Airlines (CAL, 中華航空) and Shanghai-based China Eastern Airlines (CEA, 中國東方航空公司) yesterday denied reports that CAL is planning to purchase a 20 percent stake in CEA to develop its cargo market in China.
Hong Kong media quoted Lo Chu-ping (
Speaking to the Taipei Times, Lo denied the reports, saying that no deal has yet been reached with CAL. "We are still in the negotiation process, and no specific amount of money has been finalized at this stage," said Lo. "Even if both sides had agreed upon the deal, we would still have to seek approval from the government before the news is released," Lo said.
According to Lo, CEA, of which the Chinese government owns about 60 percent, holds a 70 percent stake in China Cargo Airlines (
Declining to comment on how much CAL might invest in CCA, Lo said that the ceiling for foreign investment in CCA would be 25 percent of the company's total shares. Denying any investment details have been finalized, Scott Shih (石炳煌), CAL spokesman, said that the cooperation deal will provide benefits for both sides.
"We can provide our large cargo fleet and management expertise ... our counterpart has the strength to access the Chinese market. That remains full of potential in terms of capacity," said Shih.
CAL, which now has 13 cargo aircraft that operate to 27 destinations worldwide, was the world's 10th largest airline in terms of global cargo capacity in 1997, and is expected to maintain the position this year, Shih said.
CEA, along with Air China (
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group