Canada-based Nortel has announced it will cut 3,200 jobs globally within the next few months. Nortel China says that this will affect the company's employees in China, though it has not disclosed the exact number of employees that will be affected.

The global financial crisis has hit Chinese PC maker Lenovo and it has announced that it will cut approximately 11% of its total global workforce, and the company expects to report a loss for the fiscal quarter that ended December 31, 2008.

The Appellate Body of the World Trade Organization has published a report on the settlement of the automotive component disputes between China and the three parties of the United States, the European Union, and Canada.

China's Chana Auto Company has signed a cooperation agreement on zero-emission electric vehicles with the Canadian company Electrovaya, a world leader in the design, development and manufacture of proprietary Lithium Ion SuperPolymer battery systems.

Sinopec International Petroleum Exploration and Production Corporation, the wholly-owned subsidiary of China Petrochemical Corporation, has announced that it will acquire all the outstanding common shares of Canadian Tanganyika Oil Company, by way of a negotiated take-over bid for CAD31.50 per share in cash.

Lenovo can't wait to cash-in on its Olympics sponsorship and has announced the final Internet charity auction of limited-edition notebook PCs inspired by the Lenovo-designed Beijing 2008 Olympic Torch to benefit organizations in China.

Canada is contributing CAD1 million to support the emergency response of the International Federation of the Red Cross following the May 12 earthquake in China.