Apple will revamp its repair and warranty terms on the Chinese mainland. Provided to China Daily

Technology

Chastened Apple faces closer scrutiny

China's commerce market watchdogs have called for tightened supervision of Apple Inc's disputed warranty policy in response to customer complaints it has adopted different policies for repair and return services in China. The State Administration for Industry and Commerce said it has issued a notice asking local industry and commerce authorities to increase supervision of Apple's warranty policies.

Tim Cook, Apple's chief executive officer, in a statement on the company's Chinese website on April 1, vowed to revamp its repair and warranty terms and apologized for any misunderstandings stemming from poor communication with customers.

Auto

SAIC profit misses estimates, GM growth stalls

SAIC Motor Corp, China's largest automaker, reported full-year profit that missed analysts' estimates after earnings growth stalled at its venture with General Motors Co. Net income rose 2.6 percent to 20.8 billion yuan ($3.3 billion; 2.6 billion euros) last year, SAIC, which has joint ventures with GM and Volkswagen AG, said on March 29. That missed the 22 billion yuan average of nine analyst estimates compiled by Bloomberg. Sales rose 10 percent to 478.4 billion yuan, also missing estimates. Profit for GM in China, where it is the biggest foreign automaker, fell 0.2 percent last year, after rising 14 percent the previous year.

Geely cars start selling in Belarus

The Chinese car maker Geely has started selling its Belarus-assembled cars in Minsk.

The first batch of Belarusian-Chinese cars made by the company BelGee in Borisov is already available in dealers' stores in Minsk.

Set up in 2011, the Belarusian-Chinese joint venture BelDzhi first launched the Geely SC7, a sedan that costs about $13,000 (10,150 euros).

BelGee eventually plans to market the Belarusian-Chinese cars in Kazakhstan and the European Union.

Aviation

Boeing delivers 1,000th aircraft to China

Boeing has delivered its 1,000th aircraft to China, making the country its first market outside the US to pass that threshold.

The aircraft, a Next-Generation 737-800 with the Boeing Sky Interior painted in special peacock livery, will join China Eastern Yunnan Airlines.

China has become one of the most dynamic markets for commercial aircraft. Boeing forecasts the country will need 5,260 new aircraft, valued at about $670 billion (523 billion euros), over the next 20 years.

Investment

Heilongjiang plans heavy investment in Russia

Northeast China's Heilongjiang province plans to increase investment in Russia by $1 billion (0.78 billion euros) by 2015, and $2 billion by 2020, local authorities said on March 31. The province that borders Russia will also beef up its trade with the country, vowing to increase the volume to $26 billion by 2015, and $52 billion by 2020, sources with the provincial commercial department said.

Heilongjiang accounts for about a quarter of China's trade with Russia. Trade between the province and Russia was worth $21.3 billion last year, 12.2 percent higher than in the previous year.

Retail

Wal-Mart to open 30 new stores in China

The world's largest retailer by sales will open 30 new stores in China and spend nearly 500 million yuan ($80.1 million; 62.6 million euros) on remodeling existing ones in the country.

Wal-Mart Stores Inc told China Daily on April 1 that it will remodel 50 stores this year, following completion of remodeling at 31 stores last year.

The new openings in China this year are part of a plan announced in October for the company to have more than 100 new stores in the next three years.

China Daily-Agencies

(China Daily 04/05/2013 page14)