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China's Haier net profit jumps 52% on expansion of market share
BEIJING - Qingdao Haier Co Ltd, one of the world's leading white goods and household appliance manufacturers, said Friday that its net profit in the first half year jumped 51.83 percent on expanding market share.
Posted on 28 Aug 2010 - Source: China Daily
China, ASEAN see robust trade in Jan-July
DANANG, Vietnam - Trade between China and the Association of Southeast Asian Nations (ASEAN) went up 49. 6 percent year-on-year in the first seven months to $161 billion, with ASEAN enjoying surplus of $7.54 billion, said Chinese Commerce Minister Chen Deming here on Thursday.
Posted on 28 Aug 2010 - Source: China Daily
China to set up safety system for cosmetics, skin care products
YIWU, Zhejiang, Aug. 27 (Xinhua) -- China's State Food and Drug Administration (SFDA) has moved to create the country's first safety assessment and monitoring system for cosmetics and skin care products, said an SFDA official.
Posted on 28 Aug 2010 - Source: Xinhua
China seeks to build largest regional cooperation platform for mutual development
FUZHOU, Aug. 27 (Xinhua) -- China has begun efforts to build the largest regional cooperation platform, covering a geographical area that produces around one-third of the country's GDP.
Posted on 28 Aug 2010 - Source: Xinhua
Shenzhen economy to surpass Hong Kong in the next 5 to 10 years
Shenzhen is fast becoming an economic powerhouse and is set to overtake Hong Kong in five to 10 years, one official from Shenzhen said.
Posted on 19 Apr 2010 - Source: People's Daily
China's heavy-industry center urged to transform development pattern
China's top legislator Wu Bangguo has urged Jilin Province in northeast China, traditionally a heavy-industry center, to speed up transformation of its development pattern.
Posted on 19 Apr 2010 - Source: Xinhua
Official: Utility prices continue to rise in the second quarter
The National Development and Reform Commission (NDRC) recently issued a report saying that in the first quarter, the overall prices have remained stable, and in the second quarter, the overall price level will continue to maintain modest increases, and there is not likely to be a sharp rise in price.
Posted on 19 Apr 2010 - Source: People's Daily
Banks can refuse third-home loans
Commercial banks will be able to refuse loans to people buying their third houses in areas suffering from soaring property prices.
Posted on 19 Apr 2010 - Source: People's Daily
Henan's first electric vehicle charging station begins construction
Henan's first charging station for electric vehicles recently began construction in Zhengzhou. This is the largest electric vehicle charging station under construction in China.
Posted on 19 Apr 2010 - Source: People's Daily
China sets foreign trade goal over next decade
A research report of China's foreign trade sector Sunday predicted the world's largest exporter would more than double its foreign trade volume by 2020.
Posted on 19 Apr 2010 - Source: People's Daily
20 new urban rising stars in China
BEIJING, April 13 --Tianjin: A key player in the Bohai Bay economic zone, a manufacturing and shipping center in North China, with per capita GDP exceeding 62,000 yuan ($9,082) in 2009.
Posted on 14 Apr 2010 - Source: Xinhua
China faces energy challenges in switch to low-carbon economy
China has made significant efforts to pursue energy and resource efficiencies to achieve sustainable development, while the nation still faces challenges in the transition to a low-carbon economy and needs integrated solution systems.
Posted on 14 Apr 2010 - Source: People's Daily
ADB: China's economy to grow 9.6%
The Asian Development Bank has forecasted China's economy will grow 9.6 percent in 2010, while predicting a moderate lift in the value of the currency, the yuan.
Posted on 14 Apr 2010 - Source: People's Daily
China confiscates over 44.32 mln fake invoices in Q1
China has confiscated 44.32 million fake invoices during a three month nation-wide clamp down on invoice related crime, announced the Ministry of Pubic Security here Tuesday.
Posted on 14 Apr 2010 - Source: People's Daily
Smaller cities offer better bets
Some of China's second-tier and third-tier cities may generate higher returns given the excessively high level of house prices in the nation's biggest cities, according to a real estate research report.
Posted on 14 Apr 2010 - Source: People's Daily
China Telecom awarded world's first IPv6 operator certification
China Telecom was awarded the world's first certification as an Internet Protocol version 6 (IPv6) Internet service provider at the IPv6 Forum, which concluded on April 7.
Posted on 14 Apr 2010 - Source: People's Daily
China's PMI higher than 55% in March
The Purchasing Managers' Index (PMI) – an important economic indicator – of China's manufacturing sector rose to over 55 percent in March, up over 3 percentage points from the previous month, according to a report released on April 1 by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics (NBS).
Posted on 13 Apr 2010 - Source: People's Daily
China's copper consumption to grow 14% this year
Copper consumption in China, the world's largest consumer of the metal used in appliances and automobiles, may gain 14 percent this year as the economy extends a recovery, according to CRU International Ltd.
Posted on 13 Apr 2010 - Source: China Daily
China central SOEs number cut down to 126
BEIJING: The number of China's centrally-administered state-owned enterprises (SOEs) has been reduced to 126, according to a statement of the State-owned Assets Supervision and Administration Commission (SASAC).
Posted on 13 Apr 2010 - Source: China Daily
China unveils new rules for foreign investment
BEIJING: The State Council, China's Cabinet, released here Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.
Posted on 13 Apr 2010 - Source: China Daily
Facebook plans to enter China
Popular social networking site Facebook is considering to enter China's internet market, according to Sina.com report Friday.
Posted on 12 Apr 2010 - Source: People's Daily
China targets 150 mln 3G users by 2011
China plans to have 150 million 3G mobile telecommunication users by 2011 while investment in 3G development will hit 400 billion yuan (58.6 billion U.S. dollars), the Ministry of Industry and Information Technology (MIIT) said in a statement on its Web site Thursday.
Posted on 12 Apr 2010 - Source: People's Daily
China discovers 3.52 bln tonnes of iron ore in 2009
China discovered 3.52 billion tonnes of proven iron ore reserves in 2009, the Ministry of Land and Resources said in a report released on its Web site Friday.
Posted on 12 Apr 2010 - Source: People's Daily
Snow: Let China decide on RMB
SHANGHAI - It won't be a surprise if the Chinese government soon shifts its currency policy in the light of mounting inflationary pressure in the nation, although it is up to China itself to decide the timing of any yuan revaluation, former US Treasury Secretary John Snow said on Friday.
Posted on 12 Apr 2010 - Source: China Daily
China reports trade deficit in March, 1st time in 6 years
BEIJING - China's trade balance turned red in March, the country's first monthly trade deficit in six years, the General Administration of Customs (GAC) said here Saturday.
Posted on 12 Apr 2010 - Source: China Daily
Public health insurance may cover high-priced medicine
The Ministry of Human Resources and Social Security will start negotiating with pharmaceutical companies to include some high-priced but therapeutic medicine in the list covered by public health insurance, the 21st Century Business Herald reported on Wednesday.
Posted on 17 Mar 2010 - Source: China Daily
Cosco share sale to fund new ships
BEIJING - China Cosco Group, the world's second largest shipping company, announced on Tuesday plans to raise as much as 3.9 billion yuan, one day after its real estate subsidiary stunned the public by buying land at a record high price in Beijing.
Posted on 17 Mar 2010 - Source: China Daily
China's economy to grow 9.5 pct in 2010: World Bank forecast
BEIJING, March 17 (Xinhua) -- China's economy would expand 9.5 percent in 2010, fuelled by a transformed growth model featuring less government-led investment, recovered exports and solid consumption, the World Bank (WB) said in a report released Wednesday.
Posted on 17 Mar 2010 - Source: Xinhua
Structural adjustment, inflation management key to avert "double dip"
China needs to strike a balance between maintaining a relatively fast and stable development, economic structural adjustment and management of inflation expectation to avert a possible economic "double dip" this year, Premier Wen Jiabao said in Beijing Sunday.
Posted on 14 Mar 2010 - Source: Xinhua
Social insurance a heavy burden for Chinese
Chinese people have to pay 40 percent or in some areas even 50 percent of their salary to buy social insurance by law, much higher than the level of most countries in the world, Bai Chongen, an economist from Tsinghua University found in his latest research, the Xinmin Evening News reported.
Posted on 13 Mar 2010 - Source: People's Daily
Electronics and machinery leading the way
The industries leading economic development at Suzhou Industrial Park (SIP) are electronics and machinery.
Posted on 13 Mar 2010 - Source: People's Daily
5 Chinese on Internet billionaire rich list
Based on the 2010 billionaire list Forbes Magazine released Wednesday, the BBC selected the world's top 26 Internet billionaires Thursday and five Chinese entrepreneurs are on the list.
Posted on 13 Mar 2010 - Source: People's Daily
Chinese leaders underlines scientific development, stability
BEIJING, March 8 (Xinhua) -- Chinese President Hu Jintao urged scientific development of the Binhai New Area, an economic powerhouse in north China, when joining a panel discussion with lawmakers from Tianjin Municipality.
Posted on 12 Mar 2010 - Source:
Chinese leaders stress transforming economic growth mode, fighting corruption
BEIJING, March 11 (Xinhua) -- Senior Chinese leaders joined lawmakers Thursday in discussions on the work report of the National People's Congress (NPC) Standing Committee.
Posted on 12 Mar 2010 - Source: Xinhua
China enhances industrial restructuring for balanced growth
China intensified industrial restructuring in 2009 in an effort to optimize economic structure and lay a sound foundation for long-term development, Premier Wen Jiabao said at the parliament's annual session Friday.
Posted on 07 Mar 2010 - Source: People's Daily
China to build industrial system of low-carbon emissions: Wen's report
China will build an "industrial system" and "consumption pattern" with low carbon emissions, according to a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Friday.
Posted on 07 Mar 2010 - Source:
China to see 'more trade disputes' this year
BEIJING - China will face rising trade protectionism this year as a result of an increase in its exports as well as high unemployment rates in the United States and the European Union, the Chinese ambassador to the World Trade Organization (WTO) said.
Posted on 07 Mar 2010 - Source: China Daily
China needs more efforts to reach energy saving goal: top planner
BEIJING, March 7 (Xinhua) -- China needs to strive harder to reach its goal of energy conservation set by the 11th Five Year Plan (2006-2010), said Li Pumin, spokesman of the National Development and Reform Commission (NDRC).
Posted on 07 Mar 2010 - Source: Xinhua
Commentary: Can Chinese auto-makers learn from Toyota's crisis?
Just a few months after Toyota surrendered its status as the world's biggest vehicle maker, the Japanese auto giant suffered a credibility crisis that its rivals in China could well repeat if they fail to pay attention to the complaints of motorists.
Posted on 03 Mar 2010 - Source: People's Daily
Super-rich have craze for luxuries
A private jet will set you back $20 million, not including the nearly $2 million a year needed to maintain it, but the expense is not enough to stop China's super-rich from acquiring such a "luxurious toy" - along with a slew of other luxury items.
Posted on 03 Mar 2010 - Source: China Daily
Iron ore imports expected to hit new high in March
In the context of heated iron ore pricing negotiation, iron ore price hike in the international market and stable freight, China's iron ore imports is expected to reach 600 million tons in March, 2010, hitting a new high.
Posted on 03 Mar 2010 - Source: People's Daily
Oil companies plan charging stations
BEIJING - Domestic oil companies have started developing charging stations for electric vehicles to cash in on the growth in clean energy.
Posted on 03 Mar 2010 - Source: China Daily
China to focus on energy restructure in 2010
China would put more emphasis on adjusting its energy structure this year with focus on renewable energy and nuclear power, director of China's National Energy Administration (NEA) said in Beijing Tuesday.
Posted on 03 Mar 2010 - Source: Xinhua
China's 100 key retailing enterprises report falling sales in January
BEIJING, March 3 (Xinhua) -- The 100 key retailing enterprises in China clinched 34.56 billion yuan (5.06 billion U.S. dollars) worth of sales in January, down 7.11 percent year-on-year, according to statistics released Wednesday.
Posted on 03 Mar 2010 - Source: Xinhua
Shanghai, Beijing, Jiangsu China's top-3 economically competitive regions
Shanghai, Beijing, and Jiangsu province were ranked the top-3 among 31 provincial-level administrative regions in terms of overall economic competitiveness in 2008, according to the "Provincial Economic Blue Book: Report of China's Overall Economic Competitiveness of Provincial-level Administrative Regions," released by the Social Sciences Academic Press (SSAP) February 28.
Posted on 02 Mar 2010 - Source: People's Daily
China remains largest holder of US Treasury securities: report
WASHINGTON: China remains the largest foreign holder of US Treasury securities at the end of December, the US media reported on Saturday.
Posted on 02 Mar 2010 - Source: China Daily
Economic gap keeps narrowing between China's east, west
BEIJING, March 1 (Xinhua) -- Since 2004, the economic gap between China's east and west has narrowed, according to a Tsinghua University report.
Posted on 02 Mar 2010 - Source: Xinhua
China to develop low-carbon economy: top economic planner
BEIJING, March 1 (Xinhua) -- China's top economic planning body has confirmed the government will take concrete actions to develop a low-carbon economy after it pledged to substantially reduce carbon intensity at last year's Copenhagen Conference.
Posted on 02 Mar 2010 - Source: Xinhua
China allocates 28.6 bln yuan to support farmers
BEIJING, March 1 (Xinhua) -- China's central government has allocated 28.6 billion yuan (4.2 billion U.S. dollars) to support farmers, the Ministry of Finance said in a statement Monday.
Posted on 02 Mar 2010 - Source:
China's 1st consumer finance company to start operations in March
The Bank of Beijing Consumer Finance Company, China's first consumer finance company, has been officially established after its recent approval by the China Banking Regulatory Commission Bank. The consumer finance company is scheduled to be officially opened to customers March 1, marking the initiation of the official operations of China's first batch of consumer finance companies.
Posted on 26 Feb 2010 - Source: People's Daily
Ministries design exchange rate stress test for labor-intensive industries
China's Ministry of Commerce (MOFCOM) and the Ministry of Industry and Information Technology (MIIT) have designed a stress-test for China's labor-intensive industries, aiming to determine the effect of yuan appreciation on the textile garment, shoe-making and toy industry, reported today's 21st Century Business Herald.
Posted on 26 Feb 2010 - Source: People's Daily
China's energy efficiency improved in 2009: report
BEIJING: China's energy consumption per 10,000 yuan ($1,464.1) of gross domestic product (GDP) dropped 2.2 percent in 2009, China's National Bureau of Statistics (NBS) said here Thursday.
Posted on 26 Feb 2010 - Source: China Daily
China oil company inks gas exploration deal with Thailand
XI'AN: A State-owned oil company from Northwest China's Shaanxi province has inked a deal with Thailand to explore for natural gas in parts of the Khorat Basin, an oil-rich region 280 kilometers from Bangkok.
Posted on 26 Feb 2010 - Source: China Daily
Blaming Chinese currency for global imbalance not right: official
BEIJING, Feb. 25 (Xinhua) -- It was wrong to blame the foreign exchange rate of the renminbi (RMB), China's currency, for the global economic imbalance, Chinese commerce ministry spokesman Yao Jian said here Thursday.
Posted on 26 Feb 2010 - Source: Xinhua
China's economic macro-control to be tested in 2010
BEIJING, Feb. 26 (Xinhua) -- China's macroeconomic management would be put to the test both by the domestic and international markets in 2010, said Chairman of National Development and Reform Commission (NDRC) Zhang Ping Friday.
Posted on 26 Feb 2010 - Source: Xinhua
Pressure on yuan rise "not justified"
BEIJING, Feb. 26 --China's trade surplus has shrunk significantly in recent months, so calls by other countries to let the renminbi appreciate are not justified, the Ministry of Commerce said Thursday.
Posted on 26 Feb 2010 - Source:
China to foreign investors: Go west
China is encouraging more foreign investment in its central and western regions, developing local labor-intensive industries that meet environmental protection requirements, Wang Chao, assistant minister of the Ministry of Commerce (MOFCOM), said Wednesday.
Posted on 25 Feb 2010 - Source: People's Daily
Overseas direct investment may soar
China's overseas direct investment (ODI) may see a double-digit growth this year to around $60 billion, on the back of government support and overseas expansion plans of domestic firms, officials from the Ministry of Commerce (MOFCOM) said yesterday.
Posted on 25 Feb 2010 - Source: China Daily
US became largest seafood buyer from China's Jiangsu province in Jan
NANJING: The United States was the largest buyer of seafood from east China's Jiangsu province in January with $10.44 million in purchases, more than a quarter of the province's total seafood exports.
Posted on 25 Feb 2010 - Source: China Daily
Blaming Chinese currency for global imbalance not right: official
BEIJING, Feb. 25 (Xinhua) -- It was wrong to blame the foreign exchange rate of the renminbi (RMB), China's currency, for the global economic imbalance, Chinese commerce ministry spokesman Yao Jian said here Thursday.
Posted on 25 Feb 2010 - Source: Xinhua
China to further adjust and reinvigorate key industries: State Council
BEIJING, Feb. 24 (Xinhua) -- China should further step up efforts to implement the plan to adjust and reinvigorate some of the country's key industries, according to an executive meeting of the State Council held on Wednesday.
Posted on 25 Feb 2010 - Source: Xinhua
China oil giants join hands for Caspian Sea oil field
In the battle for the world's oil resources, state owned oil giants China Petroleum & Chemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC) may once again stand side by side.
Posted on 24 Feb 2010 - Source: People's Daily
Cognac becomes 1st foreign geographical indication product protected in China
The General Administration of Quality Supervision, Inspection and Quarantine of China (AQSIQ) and the French embassy in China jointly held a press conference February 23 to declare another important achievement obtained by China during the implementation of the geographical indication product protection system.
Posted on 24 Feb 2010 - Source: People's Daily
Largest state-owned steel maker cooperates with No.1 private mill
Baosteel, China's largest state-owned steelmaker, and Jiangsu Shagang Group, China's largest private steel company, yesterday reached an agreement on strategic cooperation intent between the two companies.
Posted on 24 Feb 2010 - Source:
Copper regains some lost ground - Tuesday
SHANGHAI: Copper regained some of its lost ground in Shanghai Tuesday, following a rebound in China's stock market, but prices are likely to enter a period of consolidation as the market waits for seasonal demand to return.
Posted on 24 Feb 2010 - Source: China Daily
Hong Kong budget focuses on economic recovery
HONG KONG, Feb. 24 (Xinhua) -- Hong Kong's financial chief John Tsang on Wednesday proposed in a budget speech measures to build on the economic recovery while preventing asset bubbles, in addition to relief measures worth some 20 billion HK dollars (2.56 billion U.S. dollars).
Posted on 24 Feb 2010 - Source: Xinhua
China to open up more credit lines for small businesses
BEIJING, Feb. 24 (Xinhua) -- A Chinese official has said China's banking regulator would open up more credit lines for small enterprises this year despite the recent government clamp-down on excessive lending.
Posted on 24 Feb 2010 - Source: Xinhua
Interview: China takes longer-term perspective to cope with climate change: experts
DAR ES SALAAM, Feb. 24 (Xinhua) -- "As China is now increasingly becoming an important role in the world, China has taken a longer-term perspective and view to the development and efforts to cope with climate change," Hannah Reid, Senior Researcher at the London-based International Institute for Environment and Development, told Xinhua on Wednesday.
Posted on 24 Feb 2010 - Source: Xinhua
Chinese become most generous tourists in New York
According to First Financial Daily, a tour group of more than a thousand Chinese tourists spent the Lunar New Year (Spring Festival) in New York. These tourists spent 6,000 U.S. dollars on average in U.S. during this trip.
Posted on 23 Feb 2010 - Source: People's Daily
New energy to become focus of China's strategic emerging industries
Departments including the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC) and the Ministry of Finance jointly formed a coordination group before the Spring Festival. In a group meeting, it was clearly pointed out that China would constitute strategic emerging industries to develop the "12th Five-Year Plan."
Posted on 23 Feb 2010 - Source: People's Daily
China oil giants join hands for Caspian Sea oil field
In the battle for the world's oil resources, state owned oil giants China Petroleum & Chemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC) may once again stand side by side.
Posted on 23 Feb 2010 - Source: People's Daily
China demand to lift copper futures
SINGAPORE: Copper futures in London will rise to $8,000 a ton on increased demand from China and a recovery in usage outside the nation, according to Macquarie Group Ltd.
Posted on 23 Feb 2010 - Source: China Daily
Yuan hits new high against US dollar
The yuan strengthened the most against the greenback yesterday on speculation that the government may allow more flexibility in the currency exchange rate, even as analysts cautioned on risks from increased "hot money" flows.
Posted on 23 Feb 2010 - Source: China Daily
Steelmakers yet to reach price deal with global ore firms
Major Chinese steel mills have not reached an interim price deal with BHP Billiton Ltd as reported by foreign media earlier this month, a sign that Chinese steelmakers will consolidate their efforts in upcoming benchmark iron ore price negotiations.
Posted on 23 Feb 2010 - Source: China Daily
China Southern Airlines likely to receive 1.5 bln yuan capital injection
BEIJING, Feb. 22 (Xinhua) -- China Southern Airlines, the country's largest carrier, said late Monday that it was likely to receive 1.5 billion yuan (about 219 million U.S. dollars) as capital injection from its parent company.
Posted on 23 Feb 2010 - Source: Xinhua
Baosteel to raise steel prices by up to $103 per ton
China's largest steel mill Baoshan Iron & Steel (Baosteel) has raised March manufacturer prices, the China Business News reported today.
Posted on 22 Feb 2010 - Source: China Daily
Solar thermal plant will serve as a model for future enterprises
Powered by technologies from the United States and manufacturing capacity in China, a solar thermal plant with an installed capacity of 2,000 megawatts (MW) will be up and running soon in northern China.
Posted on 22 Feb 2010 - Source:
Latin-Caribbean alliance presents opening for China
As Latin American and Caribbean leaders meet in Mexico to discuss the creation of a new regional alliance that excludes the United States and Canada, there is an opportunity for China to seek more cooperation in the region, experts said.
Posted on 22 Feb 2010 - Source: China Daily
China's wind energy industry sees challenges
Number of producers has increased from six in 2004 to more than 70 today
Businessman Xu Zhichun's plans were thrown up in the air when demand for the wind turbine blades his company made suddenly crashed.
Posted on 22 Feb 2010 - Source: China Daily
China's market restrictions to end in 15 years: expert
BEIJING, Feb. 22 -- China's stock markets are likely to be fully open to foreign investors within 15 years, according to a leading investment expert.
Posted on 22 Feb 2010 - Source: Xinhua
ZTE, Telefonica to launch "Movistar" handsets in Latin America
The Chinese communication giant ZTE Corporation and Spanish telecom operator Telefonica announced on Wednesday that a full range of "Movistar" branded handsets will be launched in 12 Latin American countries this year.
Posted on 18 Feb 2010 - Source: People's Daily
China gives international science cooperation award to seven foreign expert
BEIJING, Jan. 11 (Xinhua) -- The Chinese government Monday bestowed its International Science and Technology Cooperation Award on seven foreign scientists for their contributions to China's science and technology development.
Posted on 18 Feb 2010 - Source: Xinhua
Ministry optimistic about iron&steel industry in 2010
BEIJING, Feb. 18 (Xinhua) -- A report by the Ministry of Industry and Information Technology said the overall situation of China's iron and steel industry will be better than last year, thanks to the steady momentum of economic recovery.
Posted on 18 Feb 2010 - Source: Xinhua
Japan surpasses China as largest holder of US Treasury securities
WASHINGTON: China trimmed its holdings of US debt by $34.2 billion in December 2009, leaving Japan as the largest holder of US Treasury securities, the US Treasury Department reported on Tuesday.
Posted on 17 Feb 2010 - Source: China Daily
RMB is not a cure-all for US economy: IMF
WASHINGTON: An appreciation of the Chinese yuan will help US economic growth but it will not solve problems in its own economy, the International Monetary Fund (IMF) chief economist said Monday.
Posted on 17 Feb 2010 - Source: China Daily
Shaanxi province apple exports rebound as financial crisis effects fade
XI'AN: Northwest China's Shaanxi province has reported a significant recovery in apple juice and fruit exports as it shakes off the impact of the global financial crisis.
Posted on 17 Feb 2010 - Source: China Daily
China, South Korea, Japan to launch joint study on trilateral free trade deal
SEOUL, Feb. 17 (Xinhua) -- South Korea plans to launch a joint research with China and Japan on the feasibility of a free trade agreement (FTA) among the three Northeast Asian countries, South Korea's foreign ministry said Wednesday.
Posted on 17 Feb 2010 - Source: Xinhua
The change of climate in China-EU economic and trade ties
Due to the impact of the global financial crisis, in the first half of 2009, Sino-EU trade dropped by 22.8 percent compared with the previous year. At the China-EU Business Summit held in Nanjing on November 30, Chinese Premier Wen Jiabao noted that both sides should promote trade and investment liberalization and facilitation.
Posted on 16 Feb 2010 - Source: People's Daily
China's natural gas output rises in 2009, still short of demand
Although China's natural gas output rose by 7.7 percent last year, it was still not enough for ever rising domestic demand, data released by an industry association said.
Posted on 16 Feb 2010 - Source: People's Daily
China Telecom joins GSM Association
MADRID, Feb. 15 (Xinhua) -- The GSM Association (GSMA), an organization representing the interests of the worldwide mobile communications industry, announced Monday that China Telecom, KDDI and Verizon Wireless have joined the organization after committing to deploy services based on Long-Term Evolution (LTE).
Posted on 16 Feb 2010 - Source: Xinhua
Nearly 70% of China's exported machinery, electronic products done by foreign-funded firms
BEIJING, Feb. 16 (Xinhua) -- Foreign-funded enterprises in China exported 494.4 billion U.S. dollars worth of machinery, electrical and electronic products in 2009.
Posted on 16 Feb 2010 - Source: Xinhua
Outlook of China's steel industry better than last year: ministry
The outlook of China's steel industry will be better this year than 2009 as the impact of the stimulus package continues, the Ministry of Industry and Information Technology (MIIT) said Saturday.
Posted on 15 Feb 2010 - Source: People's Daily
China allocates 37.2b yuan for medical reforms in 2010
China's Ministry of Finance (MOF) announced Friday that the central government had allocated 37.2 billion yuan ($5.45 billion) to subsidize nationwide medical reforms.
Posted on 15 Feb 2010 - Source: China Daily
Profits in China's non-ferrous metal sector fall in 2009 despite rising output
BEIJING, Feb. 13 (Xinhua) -- Profits in China's non-ferrous metal industry declined in 2009 despite rising output due to low prices, according to statistics from the Ministry of Industry and Information Technology (MIIT).
Posted on 15 Feb 2010 - Source:
Holiday travel rush becomes another source of increasing cost for Chinese companies
HANGZHOU, Feb. 15 (Xinhua) -- This year's Spring Festival holiday was special and sweeter to Liang Xiulong, a 39-year-old migrant working at a textile dyeing company in East China's Zhejiang Province.
Posted on 15 Feb 2010 - Source: Xinhua
China's e-shopping faces choke point during Spring Festival
Several online retailers suspend delivery services ahead of the Spring Festival, which put Chinese e-shopping enthusiasts in a panic during the national holiday buying boom, the China Daily reported Friday.
Posted on 12 Feb 2010 - Source: People's Daily
Rare earth reserve approved
SHANGHAI: Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co, the rare earth listed unit of Baotou Iron & Steel Group, said its international trading unit received a nod from the autonomous region's government to build a strategic reserve of rare earth elements.
Posted on 12 Feb 2010 - Source: China Daily
30 million Chinese booked their holidays online last year
With millions of Chinese logging on to the Internet to book air tickets and hotel rooms, travel websites have turned out to be a major hit in the country's tourism industry.
Posted on 12 Feb 2010 - Source: China Daily
China allocates 3 bln yuan to fund urban students
BEIJING, Feb. 12 (Xinhua) -- China's central government has earmarked 3.17 billion yuan (463.9 million U.S. dollars) to cover tuition fees of city-born children in primary and junior high schools nationwide, the Ministry of Finance (MOF) announced Friday.
Posted on 12 Feb 2010 - Source: Xinhua
China's power consumption grows 40 ％ in Jan.
BEIJING, Feb. 12 (Xinhua) -- China's electricity consumption in January 2010 grew 40.14 percent year on year to 353.1 billion kilowatt-hours (kWhs), the National Energy Administration (NEA) said in a statement on its website Friday.
Posted on 12 Feb 2010 - Source: Xinhua
More Chinese collectors consider art as an investment vehicle
"I don't have a single share in the stock market," Jessica Zhang announced as she pointed to her latest investment, an oil painting portraying a love affair between a man and a woman perched on a catfish, with expressions of melancholy on their faces.
Posted on 11 Feb 2010 - Source: People's Daily
Air China orders 20 Airbus A320s for $1.63 bln
Air China, one of the three major civil aviation companies in the country, said Thursday that it has ordered 20 Airbus A320 planes to promote its fleet capacity on growing demand.
Posted on 11 Feb 2010 - Source: People's Daily
No sweet solution to sugar shortage
China may sell its sugar reserves to cool the market and avert a sugar shortage after poor weather damaged sugarcane fields and jacked prices up to a three-year high.
Posted on 11 Feb 2010 - Source: China Daily
China, Costa Rica conclude FTA talks
SAN JOSE: China and Costa Rica concluded their year-long negotiations on the Free Trade Agreement (FTA) on Wednesday.
Posted on 11 Feb 2010 - Source: China Daily
CNPC clinches deal to develop Iranian gas field
China National Petroleum Corp (CNPC), the country's largest oil and gas producer, has clinched a deal to develop phase 11 of Iran's South Pars gas project, and beef up its oil and gas operations in the country that holds one of the world's top oil and gas reserves, an industry official told media.
Posted on 11 Feb 2010 - Source: China Daily
China's 2009 coal imports triple after stimulus increases demand
BEIJING, Feb. 10 (Xinhua) -- The volume of China's coal imports more than tripled in 2009 from a year earlier as the country's economic stimulus package boosted demand.
Posted on 11 Feb 2010 - Source: Xinhua
China reports 1.39 trillion yuan of new loans in January
BEIJING, Feb. 11 (Xinhua) -- China's new yuan-denominated lending in January stood at 1.39 trillion yuan (203.5 billion U.S. dollars), down 14.2 percent from a year earlier, the People's Bank of China (PBOC, the central bank) said Thursday.
Posted on 11 Feb 2010 - Source: Xinhua
Copper imports may drop 50%
Copper imports by China may be cut in half from last year's record as the government rolls back stimulus spending and curbs credit growth, according to China Minmetals Nonferrous Metals Co, the nation's largest metals trader.
Posted on 10 Feb 2010 - Source: People's Daily
Raw materials rally drives up stocks
China's stocks rose for the first time in four days as a rally in raw material prices and speculation January lending surged spurred gains by commodity producers and financial companies.
Posted on 10 Feb 2010 - Source: People's Daily
China draws up plans for national renewable energy center
China's stocks rose for the first time in four days as a rally in raw material prices and speculation January lending surged spurred gains by commodity producers and financial companies.
Posted on 10 Feb 2010 - Source: People's Daily
Rate of inflation 'still low'
Central bank governor Zhou Xiaochuan said Tuesday China's inflation rate remains "relatively low", amid ongoing debate among officials and economists on when policymakers should raise interest rates to rein in rising inflation and asset prices.
Posted on 10 Feb 2010 - Source: China Daily
China overtakes Germany as world top exporter
BERLIN: Germany's multi-year reign as the world's No 1 exporter is officially over, with the crown formally passing to rising China after new figures showed that German exports slid by nearly a fifth in 2009, the biggest decline in 60 years.
Posted on 10 Feb 2010 - Source: China Daily
China issues rules on maritime wind energy projects with stress on environmental protection
BEIJING, Feb. 10 (Xinhua) -- China has issued regulations on the development and construction of offshore wind power projects in a bid to promote reasonable use of sea space and resources and better protect oceanic environment.
Posted on 10 Feb 2010 - Source: Xinhua
China plans to build national renewable energy center: report
BEIJING, Feb. 10 (Xinhua) -- China plans to build a national renewable energy center to further shore up development of the industry, the China Daily reported Wednesday.
Posted on 10 Feb 2010 - Source: Xinhua
Chinese banking regulators win top risk management award in New York
NEW YORK, Feb. 9 (Xinhua) -- Chinese banking regulators won a top award from a leading risk management association in New York on Tuesday.
Posted on 10 Feb 2010 - Source: Xinhua
Saudi Arabia, Angola, Iran remain top 3 oil suppliers to China
BEIJING, Feb. 10 (Xinhua) -- Saudi Arabia, Angola and Iran remained the three largest oil sources for China in 2009, with the three supplying 47.7 percent of China's total imports, according data released Wednesday by the General Administration of Customs (GAC).
Posted on 10 Feb 2010 - Source: Xinhua
Chinese vice premier vows new food safety campaign after re-emergence of melamine-tainted milk
BEIJING, Feb. 9 (Xinhua) -- Following several reports of melamine-tainted milk products resurfacing, Chinese Vice Premier Li Keqiang on Tuesday vowed a new nationwide campaign in 2010 to ensure food safety.
Posted on 10 Feb 2010 - Source: Xinhua
One night in Sanya costs more than six days in Maldives
The latest quotation list of Sanya hotels shows, five-star hotels near Sanya Bay in China's Hainan province charge more than 15,000 yuan (about 2,197U.S. dollars) per day, and some hotels even charge more than 20,000 yuan (about 2,929.7 U.S. dollars) for one night. Living in high-end hotels in Sanya for the night now costs you the same as 4 to 5 days in some overseas tourist destinations.
Posted on 09 Feb 2010 - Source: People's Daily
91% think new rich use govt connections
More than 90 percent of people think the neo-rich in China have benefited from networking with government officials and 42 percent have a "bad impression" of the group, a recent survey has found.
Posted on 09 Feb 2010 - Source: People's Daily
Reflections on wealth and management from a home-grown private entrepreneur in China
Wu Jiayuan is typical of China's older generation of home-grown private entrepreneurs. Having started from the bottom of the ladder at Hubei Dengfeng Heat Exchanger to eventually become chairman of its board, his international business career couldn't be more different than his childhood during the 1960s spent in rural Da Ye, in the central province of Hubei. Hardship back then was no stranger and had a profound effect on the senior executive. "I am a simpler man than most," he says. "I grew up in a rural area, and even from an early age, life was never easy. Today, I treasure every stage of development in my life."
Posted on 09 Feb 2010 - Source: China Daily
China Eastern Airlines in search for new investors
SHANGHAI: China Eastern Airlines, the nation's second largest carrier by fleet size, said it has rolled out the red carpet for potential strategic investors after completing a merger with former local rival Shanghai Airlines.
Posted on 09 Feb 2010 - Source: China Daily
Steel industry to continue restructuring
China is to speed up restructuring in the steel sector, supporting the development of three to five major steel enterprises in an effort to address the long-standing problems of overcapacity and low industry concentration, the Securites Daily reported Monday, citing a senior official.
Posted on 09 Feb 2010 - Source: China Daily
Govt to beef up regulation of pre-paid card industry
The government is looking at ways to protect consumer rights and develop common standards in the burgeoning pre-paid card industry.
Posted on 06 Feb 2010 - Source: China Daily
China strengthens efforts to fight melamine-tainted milk products
The Chinese Central Government has sent eight inspection working groups to 16 provincial areas nationwide to prevent the melamine-tainted milk powder, which killed at least six in 2008, from being reclaimed illegally in producing milk products.
Posted on 06 Feb 2010 - Source: China Daily
China passenger car sales up 84% in January
BEIJING, Feb. 6 (Xinhua) -- China's passenger car sales rose 84 percent in January from a year earlier, heavily boosted by minivans, China Passenger Car Association said on Friday.
Posted on 06 Feb 2010 - Source: Xinhua
SAIC posts soaring sales in January
BEIJING, Feb. 6 (Xinhua) -- SAIC Motor, the listed arm of China's auto giant Shanghai Automotive Industry Corporation (SAIC), said Saturday its car sales totaled 307,384 units in January, up 89.8 percent from a year earlier.
Posted on 06 Feb 2010 - Source: Xinhua
China's fiscal revenue rises 55.8% in Dec.
BEIJING, Feb. 5 (Xinhua) -- China's fiscal revenue for last December reached 508.4 billion yuan (74.45 billion U.S. dollars), up 55.8 percent year on year, the Ministry of Finance (MOF) announced Friday.
Posted on 05 Feb 2010 - Source: Xinhua
China's current account balance falls 35% in 2009
BEIJING, Feb. 5 (Xinhua) -- China's current account balance dropped 35 percent in 2009 to 284.1 billion U.S. dollars, preliminary data released by the State Administration of Foreign Exchange (SAFE) showed Friday.
Posted on 05 Feb 2010 - Source: Xinhua
Crude oil imports to increase this year
Crude oil imports are likely to go up by 9.1 percent this year to 212 million tons, according to a report from oil and gas producer China National Petroleum Corp (CNPC).
Posted on 05 Feb 2010 - Source: China Daily
Convergence moves to bolster investments
The government's recent efforts to promote the advancement of a three-system convergence - telecom, Internet and TV broadcasting - is expected to boost investments by both telecom carriers and cable TV operators in the coming years.
Posted on 05 Feb 2010 - Source: People's Daily
Hu's transformation call signals confidence in recovery
President Hu Jintao's call for "no delay" in transforming China's economic model signals the government's confidence in the nation's recovery, Bank of America-Merrill Lynch said.
Posted on 05 Feb 2010 - Source: China Daily
China to levy anti-dumping duties on U.S. chicken
BEIJING, Feb. 5 (Xinhua) -- China's Ministry of Commerce (MOC) said Friday that it would impose initial anti-dumping measures on chicken imports from the United States.
Posted on 05 Feb 2010 - Source: Xinhua
Statistics of capital account in 2009 not comparable to 2008: SAFE
BEIJING, Feb. 5 (Xinhua) -- Preliminary statistics which showed a surge in China's capital account and financial items surplus last year are not comparable to the statistics for 2008, the State Administration of Foreign Exchange (SAFE) said Monday.
Posted on 05 Feb 2010 - Source: China Daily
China-Africa economic co-op committee founded
BEIJING: A gathering was held here Wednesday to mark the establishment of the China-Africa Economic and Technology Cooperation Committee (CAETCC) of China Economic and Social Council (CESC).
Posted on 04 Feb 2010 - Source: China Daily
Shift to green growth in place
BEIJING: China's gross output value of textiles rose by 10.3 percent last year, said vice president of China National Textile and Apparel Council (CNTAC) Shen Kunyuan Wednesday.
Posted on 04 Feb 2010 - Source: China Daily
Software industry to enjoy rapid growth thanks to policy support
China's software industry is expected to grow by around 25 percent in 2010, remarked the Ministry of Industry and Information Technology (MIIT) February 3, adding that the industry will continue to receive strong policy support.
Posted on 04 Feb 2010 - Source: People's Daily
Green tea in Zhejiang posts annual output value of more than 7 billion yuan
Zhejiang is the world's largest hub for production, processing and export of green tea. According to the agriculture department of Zhejiang province, tea output in Zhejiang reached 166,000 tons in 2009, and its value surpassed 7 billion yuan reaching 7.75 billion yuan, up by 17.7 percent year-on-year, accounting for 60 percent of the country's tea export.
Posted on 04 Feb 2010 - Source: People's Daily
Yuan is becoming a strong regional currency: Russian official
MOSCOW, Feb. 3 (Xinhua) -- Russian Deputy Finance Minister Dmitry Pankin told Xinhua on Wednesday the Chinese yuan was becoming a strong regional currency.
Posted on 04 Feb 2010 - Source: Xinhua
China to focus on a stable exit strategy in 2010: economist
How we can manage a stable exit from the hypernormal stimulus plan will be the main theme of China's economy in 2010, remarked Ba Shusong, researcher with the State Council Development Research Center February 2.
Posted on 03 Feb 2010 - Source: China Daily
Chinese mills start iron ore talks with miners - report
China's leading steel mills have begun talks in Singapore with the big three global miners on 2010 contract iron ore prices, the China Times newspaper said in a report, but the Australian miners declined to comment.
Posted on 03 Feb 2010 - Source: China Daily
China firm becomes official sponsor of 2010 World Cup
China's solar energy company - the Baoding-based Yingli Green Energy - told China Daily today that it is proud to be an official sponsor of the 2010 FIFA World Cup in South Africa.
Posted on 03 Feb 2010 - Source: China Daily
China's largest tungsten producer reports profit surge
BEIJING, Feb. 3 (Xinhua) -- Xiamen Tungsten Co., Ltd., China's largest producer and exporter of tungsten and molybdenum products, Wednesday said its net profit increased 40.49 percent to 467 million yuan (68 million U.S. dollars) last year.
Posted on 03 Feb 2010 - Source: Xinhua
China's foreign trade of electronic information products down in 2009
BEIJING, Feb. 3 (Xinhua) -- China's foreign trade in electronic information products fell 12.8 percent last year, the first annual decline since 2000, the Ministry of Industry and Information Technology (MIIT) announced Wednesday.
Posted on 03 Feb 2010 - Source: Xinhua
Metals slump on demand concerns
Copper headed for its longest losing streak in seven weeks and aluminum dropped to the lowest level in more than a month on concern demand may wane in China and the United States.
Posted on 31 Jan 2010 - Source: People's Daily
China's iron ore import dependency hits 69%
Zhu Hongren, spokesperson for the Ministry of Industry and Information Technology (MIIT) disclosed during a press conference held January 27 that China imported a total of 630 million tons of iron ore in 2009, up 41.6 percent year-on-year, and the iron ore import dependency ratio has increased from 44 percent in 2002 to 69 percent.
Posted on 31 Jan 2010 - Source: People's Daily
China's wine industry sees opportunity amid global downturn
BEIJING, Jan. 29 (Xinhua) -- China's wine industry is having a golden opportunity to boost export as consumers worldwide are seeking wine that tastes fine but costs less, Chinese wine expert said Friday.
Posted on 31 Jan 2010 - Source: Xinhua
China's ZET says 2009 profit jumps up to 56 pct on 3G business gains
BEIJING, Jan. 29 (Xinhua) -- ZET Corporation, China's largest telecom equipment producer by market value, said its profit is estimated to surge up to 56 percent in 2009 benefited by large-scale construction of 3G networks.
Posted on 31 Jan 2010 - Source: Xinhua
Industrial output up 11% in 2009
China's industrial output of companies over a designated level rose 11 percent year-on-year in 2009, the National Bureau of Statistics (NBS) said Thursday.
Posted on 22 Jan 2010 - Source: China Daily
China's telecom sector reports 4% rise in main business revenue in 2009
China's telecommunication industry reported 842.43 billion yuan ($123 billion) in main business revenue in 2009, up 3.9 percent year-on-year, the Ministry of Industry and Information Technology said on Thursday.
Posted on 22 Jan 2010 - Source: China Daily
Chinese firm gains greater access into auto safety and electronic systems market
NEW YORK, Jan. 21 (Xinhua) -- Chinese auto parts maker Wonder Auto Technology Inc. has gained greater access into auto safety and electronic systems market after it purchased a majority stake in a company which owns Jinsheng Automotive Safety Technology Holdings Ltd.
Posted on 22 Jan 2010 - Source: Xinhua
China creates 11.02 mln new jobs in 2009
BEIJING, Jan. 22 (Xinhua) -- China created 11.02 million new jobs in urban areas in 2009, topping the government goal of 9 million, the Ministry of Human Resources and Social Security said Friday.
Posted on 22 Jan 2010 - Source: Xinhua
Sales of China's rural supply co-ops up 15 pct in 2009
The combined sales volume of China's supply and marketing cooperatives rose 14.75 percent year on year to exceed 1.23 trillion yuan (180.8 billion U.S. dollars) in 2009, the All China Federation of Supply and Marketing Cooperatives (ACFSMC) announced Monday.
Posted on 20 Jan 2010 - Source: People's Daily
Survey: Economic confidence at record high in Chinese mainland, Taiwan, HK and Macao
A recent survey conducted by the City University of Hong Kong (CityU) shows that confidence in the economic development of Chinese mainland, Macao, Hong Kong and Taiwan has continued to improve, setting record highs since the start of 2009, with the confidence of those in Chinese mainland ranking first, followed by Macao, Hong Kong and Taiwan.
Posted on 20 Jan 2010 - Source: People's Daily
China to see robust increase of import oil
BEIJING, Jan. 20-- China's oil imports will continue to see solid growth this year, with more than half of the country's total oil consumption coming from abroad, industry insiders said.
It is inevitable for the country - the world's second largest oil consumer - to see a robust increase of imports, as domestic production cannot keep up with rising demand.
Posted on 20 Jan 2010 - Source: Xinhua
Profits of Chinese state-owned enterprises up 9.8 pct in 2009
BEIJING, Jan. 19 (Xinhua) -- Combined profits of China's state-owned enterprises (SOEs) grew 9.8 percent last year to 1.34 trillion yuan (196 billion U.S. dollars), the Ministry of Finance (MOF) said Tuesday.
Posted on 20 Jan 2010 - Source: Xinhua
China calls on rich nations to deliver on climate pledges
China on Friday urged the rich nations negotiating in the UN-led climate talks in Copenhagen to help seal a deal by delivering on their promises to cut carbon emissions and provide financial support to help developing nations adapt to global warming.
Posted on 12 Dec 2009 - Source: People's Daily
China's imports, exports up 9.8% in November
BEIJING, Dec. 11 (Xinhua) -- China's imports and exports rose 9.8 percent in November year on year, ending a 12-month decline, to stand at 208.2 billion U.S. dollars, the General Administration of Customs announced Friday.
Posted on 12 Dec 2009 - Source: Xinhua
China's industrial output up 19.2% in November
BEIJING, Dec. 11 (Xinhua) -- China's industrial output growth accelerated to 19.2 percent in November year on year, following a 16.1-percent increase in October, data from the National Bureau of Statistics showed Friday.
Posted on 12 Dec 2009 - Source: China Daily
HSBC facilitates trade settlement using Chinese's Renminbi currency
The Hong Kong Shanghai Banking Corporation (HSBC) launched trade transaction service with Chinese currency Renminbi here, makes Indonesia the sixth country in ASEAN countries enjoying the service, a senior HSBC official said here on Wednesday.
Posted on 11 Nov 2009 - Source: Xinhua
China-Africa ties benefit both: business leaders
The ties between China and Africa benefit both parties and need to be further strengthened in private sectors, business leaders attending the fifth Global China Business Meeting in Lisbon said Tuesday.
Posted on 11 Nov 2009 - Source: China Daily
China's energy-saving, environmental protection industry has bright prospect: official
The output value of China's energy saving and environmental protection industry would hit 2.8 trillion yuan (412 billion U.S. dollars) by 2012, said Xie Zhenhua, deputy director of the National Development and Reform Commission on Sunday.
Posted on 11 Nov 2009 - Source: Xinhua
Otis sets up elevator plant in Chongqing
Elevator maker Otis is setting up a new factory in the southwestern city of Chongqing to capitalize on the burgeoning growth in the industrial region.
Posted on 06 Nov 2009 - Source: China Daily
China enterprises index down 0.19%
The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange went down 24.89 points, or 0. 19 percent, to close Thursday's trading at 12,805.26.
Posted on 06 Nov 2009 - Source: China Daily
Rising orders at Canton Fair signals grassroots recovery
The rise in new orders at the 106th China Import and Export Fair (Canton Fair) signaled signs of export demand recovery from its bottom, experts said Thursday.
Posted on 06 Nov 2009 - Source: Chinanews.cn
China's economy expected to grow faster in 2009: World Bank report
The World Bank on Wednesday raised China's economic growth forecast for this year and projected sustainable and robust growth in 2010.
Posted on 06 Nov 2009 - Source: Xinhua
China's home-made auto sales up 77.88% in September
BEIJING, Oct. 13 (Xinhua) -- Sales of China's home- made automobiles totaled 1.33 million units in September, up 77.88 percent over the same period last year, the China Association of Automobile Manufacturers (CAAM) said Tuesday.
Posted on 13 Oct 2009 - Source: Xinhua
Central government to subsidize foreign patent applications
The Ministry of Finance (MOF) recently established a special fund to subsidize foreign patent applications, offering a maximum of 100,000 yuan per patent application. On October 12, the State Intellectual Property Office (SIPO) held a meeting to formulate specific measures to implement the subsidy offered by the MOF for foreign patent applications made by small and medium-sized domestic enterprises, and public and scientific research institutions.
Posted on 13 Oct 2009 - Source: People's Daily
China to input $69b for West Development in 2009
China plans to invest 468.9 billion yuan ($68.65 billion) in projects to boost the development of the country's western region in 2009, said the National Development and Reform Commission (NDRC) Monday.
Posted on 13 Oct 2009 - Source: Xinhua
