NEW RECORD: A cargo ship passes through the Gezhouba lock on the Yangtze River on December 12. That day, the annual freight volume of the lock reached 100 million tons, nearly 30 times that in 1981 when it was first opened (LIU SHUSONG)

FDI Down

China's foreign direct investment (FDI) dropped 9.76 percent year on year to $8.76 billion in November, said the Ministry of Commerce (MOFCOM).

The number of foreign-invested companies approved by the Chinese Government in November also dropped 12.91 percent from a year earlier to 2,718, according to the MOFCOM.

The weakened FDI in November was largely affected by gloomy economic growth in the United States and debt woes in the EU, said Shen Danyang, a MOFCOM spokesman.

The November figure brought the total FDI in the first 11 months to $103.77 billion, up 13.15 percent year on year.

During the same period, the government approved the establishment of 25,086 foreign-invested companies, up 3.23 percent year on year.

Duties on U.S. Vehicles

China decided to levy anti-dumping and anti-subsidy duties on sedans and sport-utility vehicles with engines of 2.5 liters and above imported from the United States, after an investigation showed evidence of dumping.

Effective December 15, importers of related vehicles from the United States are required to set aside deposits with Chinese customs ranging from 2 percent to 12.9 percent according to the level of dumping and the subsidies U.S. carmakers received from their government.

U.S. carmakers, including General Motors and Chrysler Group, have received government subsidies and dumped their vehicles into the Chinese market, which has harmed China's auto industry, the Ministry of Commerce said in a statement.

The duties will expire on December 14, 2013.

Offshore Drilling

The China National Offshore Oil Corp. (CNOOC), the country's biggest offshore oil and gas company, will start drilling the first well in the Block F offshore in Cambodia's Preah Sihanouk Province later this month, said Li Fanrong, CEO of CNOOC on December 13 in Phnom Penh.

The first well drilling is expected to cost $20 million.

Sok An, Cambodian Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers, said it was a very good sign for Cambodia's oil and gas sector and added that Cambodia fully supported CNOOC for the drilling.

He also asked the CNOOC to help train Cambodian petroleum officials to keep up with new techniques in oil and gas industry.

Steel Provider

Anshan Iron and Steel Group Corp. (Anshan Steel) said on December 14 that it has clinched a strategic partnership with the A.P. Moller-Maersk Group, the world's largest container shipping operator.

The two sides signed a strategic cooperation agreement in Shanghai in which Anshan Steel promised to supply high-quality products for Maersk's ships.

Anshan Steel, based in northeast China's Liaoning Province, is China's largest supplier of container board steel.

Maersk Line, the container division of the Denmark-based company, has a fleet of more than 500 vessels.