My selection of industri news

Business analysts and economists alike have shared their thoughts on the ongoing global financial crisis, and some have said that China is or will be the least affected country in the world. If anything, the country and its local businesses might even experience growth during the recession. To prove this point one just has to look at China Unicom, China’s smallest telecommunications provider, and how much profit it made in 2008—a whopping $4.9 billion.
The Beijing-based companies released a statement on Tuesday that their 2008 profit rose 58 percent by the end of 2008. The company gained profits amounting to 33.9 billion yuan (almost $5 billion) compared to 2007’s 21.4 billion yuan. Does this fact truly serve as proof that China will not at all experience the hardships of its western counterparts or is the jump in profit just a one-off?