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Housing demand still strong in China, says Roach

NEW YORK - The property boom in China isn't a bubble because it is supported by "solid" demand for residential housing, according to Stephen Roach, chairman of Morgan Stanley Asia Ltd. While portions of the real estate market such as high-end apartments are overheating, demand ...

IMF head believes progressive appreciation of yuan

PARIS: The General-Director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, said on Wednesday that he believed a progressive appreciation of the yuan, the Chinese currency. "I see no reason not to believe the strategy that Chinese authorities announced, which is ...

China's decision to ease currency peg to boost Philippines'exports

MANILA - China's decision to ease its currency peg will help boost Philippine exports, Philippine Acting Socioeconomic Planning Secretary Augusto Santos said Tuesday.Santos said in an interview with reporters that the move is " good news" to the Philippines."That is good news for ...

OECD welcomes China's announcement on yuan flexibility

PARIS - The Paris-based Organization of Economic Cooperation and Development (OECD) on Tuesday welcomed China's announcement of increasing the exchange rate flexibility of its currency yuan.The move was helpful not only to China's sustainable growth but also the world economy, ...

Price dips may cut aluminum output

SINGAPORE - Chinese aluminum producers may cut output from a record if the current price slump persists and after the world's third-largest economy signaled an end to its currency's fixed rate to the dollar. China, the world's largest maker of the metal, produced 1.416 million ...

RMB move to help economic recovery: Thai central bank

BANGKOK - China's decision to make RMB's exchange rate more flexible will help boost the global economic recovery, the Thai News Agency (TNA) on Tuesday quoted Thailand's central bank as saying . Beijing's move should be seen as justifiable because China's economy is now very ...

Exchange rate reform to make exports more competitive

BEIJING - China's move to proceed with the reform of the Renminbi exchange rate will help increase the competitiveness of the country's exports on the global market, Yao Jian, spokesman of the Ministry of Commerce, told Xinhua Monday. Yao said the reform might increase pressure ...

IMF welcomes China's decision on further exchange rate reform

WASHINGTON - The International Monetary Fund's chief Dominique Strauss-Kahn on Saturday welcomed China's decision to further reform its exchange rate mechanism and said that the move will benefit Chinese consumers. China's announcement is "a very welcomed development," Strauss...

EU welcomes China's exchange rate regime reform

BRUSSELS - The European Union (EU) on Saturday welcomed the decision by China to proceed further with the reform of its currency RMB exchange rate regime and to resume the RMB exchange rate flexibility. "Such a move will be beneficial for both the Chinese economy and the global ...

China: No one-off move in exchange rate reform

BEIJING - The People's Bank of China (PBOC) said Sunday it will not conduct a one-off revaluation of the RMB (yuan) exchange rate. The PBOC said it will keep the yuan basically stable at a reasonable and balanced level and manage and adjust the RMB exchange rate based on the ...

International community react positively to China move on yuan reform

BEIJING - The international community has reacted positively to the pronounced move by the People's Bank of China to proceed further with its reform of the exchange rate regime so as to enhance the flexibility of the renminbi's or yuan's exchange rate. US President Barack Obama ...

RMB reform to benefit all sides: Experts

Toronto - China's foreign exchange regime reform is not only in the interest of its own economy but also can alleviate global trade and economic imbalances, foreign economists and think tank researchers have said. But they also suggested the developed nations that have blamed ...

Yuan hits 5-year high against USD

BEIJING - The yuan Friday jumped to the strongest against the US dollar since July 2005 after China's central bank vowed to make foreign exchange regime more flexible. The central parity of RMB against the US dollar rose to 6.7896 Friday, 0.3 percent higher than Thursday's 6.8100...

Stronger Chinese yuan impacts on Indonesian economy: WB official

JAKARTA - An appreciation of Chinese yuan could impact Indonesia's economy through a number of different channels, with potentially offsetting impacts, the World Bank official said here on Wednesday."On bilateral trade channel, an appreciation of yuan relative to rupiah leads to ...

Yuan revalue gives new opportunities for express companies

Chinese currency's adjustment relative to the US dollar ushers in a niche market for Chinese express companies, management consultancy firm A.T. Kearney's research shows. The inbound payment-by-buyers express market will draw more attention when the yuan appreciation boosts ...

CPI to stand around 3% for rest of year: NDRC

BEIJING - China's consumer price index (CPI), the main gauge of inflation, will be maintained at around 3 percent for the rest of the year, given the abundant food supplies and eased inflationary expectations, the country's top economic planner said Friday. The National ...

China's outbound travelers may top 52m in 2010

BEIJING - The number of China's outbound travelers is expected to reach 52 million this year, up 7 percent year-on-year, the China National Tourism Administration (CNTA) forecast in a report issued on Friday. From January to May this year, China's outbound travel tourists totaled ...

China to continue exchange rate reform: official

BEIJING - A senior Chinese central bank official said Wednesday China will continue to reform its exchange rate formation mechanism to consolidate coordinated and sustained economic growth amid a rise in production costs. "The current adjustment in the price of production factors ...

IMF hails China's response to financial crisis

WASHINGTON - The "quick, determined and effective" policy response of Chinese authorities has helped mitigate the impact of the financial crisis and ensured that China has led the global recovery, the International Monetary Fund (IMF) said on Tuesday. "Executive Directors ...

US business wants China currency bill dropped from package

WASHINGTON - More than 20 business groups have recently urged the exclusion of a bill on China's currency policy from a package of manufacturing bills that lawmakers will start voting on this week. The Currency Reform for Fair Trade Act, also known as the Ryan-Murphy Bill, "will ...

Latest World News

china

China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
China stocks close higher over liquidity injection
China stocks close higher over liquidity injection
BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

world

market

China cuts retail oil prices
China cuts retail oil prices
BEIJING, Jan. 24 (Xinhua) -- China's top economic planner announced on ...
Canada's main stock index tumbles over asset loss in emerging markets
Canada's main stock index tumbles over asset loss in emerging markets
TORONTO, Jan. 24 (Xinhua) -- Canada's main stock index fell sharply on ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...

company

industry

Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
China's banks must evolve or perish
China's banks must evolve or perish
As China's traditional banks raise interest rates to claw back lost ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

trade

sports

Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
Injured star short-track skater Wang Meng left out of China's squad for Sochi
Injured star short-track skater Wang Meng left out of China's squad for Sochi Winter Games
Injured Olympic champion Wang Meng has been ruled out of the 139...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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