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SAFE to monitor hot money flows

BEIJING - China on Wednesday said it would continue to strengthen investigations of cases involving speculative money inflows and punish offenders, as analysts said such an influx could resurface in the second half of this year. The government will "handle properly the investigat...

Treasuries lack safety, liquidity for China, Yu says

US Treasuries fail to provide safety or liquidity when it comes to managing China's $2.45 trillion foreign-exchange reserves, said Yu Yongding, a former central bank adviser. "I do not think treasuries are safe in the medium- and long-run," Yu, a member of the State-backed ...

China aims to make yuan convertible

BEIJING - The ultimate goal of China's exchange rate reform is to make the yuan a fully convertible currency, Yi Gang, head of the State Administration of Foreign Exchange (SAFE), said Friday. Yi, also deputy governor of the People's Bank of China, the central bank, made the ...

Rising yuan will not hurt trade, say bankers

Beijing - There is no foundation for the yuan to move sharply and China can maintain a flexible exchange rate mechanism, making the currency stand at a basically reasonable and balanced level, a senior central bank official said on Friday. Yi Gang, vice-governor of the People's ...

Chinese buying up investment properties in London

BEIJING - Chinese investors spent approximately 170 million pounds ($260 million) buying up newly built properties in central London in the 12 month period ending March 2010, driven by a weaker pound and tightened real estate policies at home, major international real estate ...

Forum addresses uneven salaries

TIANJIN/SHENZHEN - The Chinese government should promote the reform of the fiscal and tax system during the 12th Five-Year Plan (2011-2015), especially regarding the personal income tax system, said a central bank adviser. Li Daokui, an academic member of the central bank's ...

PBOC vows interest rate prudency

Central bank chief highlights measures to 'slow down the mulitplication of money' BEIJING - People's Bank of China Governor Zhou Xiaochuan said that the nation needs to take more measures to solve its problem of liquidity-driven inflation but warned that the bank should be ...

Why is Santa stingy to gift makers in China?

YIWU, Zhejiang - For exporters in East China's Yiwu city, which supplies half of the world's Christmas products, the year 2010 started surprisingly well. Orders jumped to the greatest volume in years, following a slump during the world economic crisis. But, even more surprisingly...

China may pay roubles for Russian timber, seafood

China wants to pay in roubles for Russian timber, coking coal and seafood, as the two countries seek to boost trade in national currencies and reduce reliance on the dollar, Reuters reported on Dec 6, citing a Russian central bank official. Russia's MICEX exchange will start ...

China to shift to prudent monetary policy next year

BEIJING - China will shift its monetary policy stance from relatively loose to prudent next year, the Political Bureau of the Communist Party of China (CPC) Central Committee decided Friday. The meeting, chaired by President Hu Jintao, also general secretary of the CPC Central ...

China central bank highlights stable prices

BEIJING - The People's Bank of China, or the central bank, will make further efforts to maintain prices stable after China's inflation rate hit a 28-month high, according to reports on Monday. The central bank will analyze global economic developments and balance the relations ...

More policies to curb inflation

'Stable, relatively fast growth' will be maintained BEIJING - China vowed on Sunday to increase efforts to combat inflation while maintaining "stable and relatively fast" economic growth, as consumer inflation hit a 28-month high of 5.1 percent in November. "The priority is to ...

Rising costs prompt firms to revamp

SHANGHAI - Faced with rising labor costs and an appreciating yuan, China's exporters are more eager this year than ever to restructure their businesses in a move to add value to their products. The nation has vowed to restructure its economy, shifting to a consumption-driven ...

Economist calls for rate move to fight inflation

BEIJING China needs to increase the interest rates by 2 to 3 percentage points next year to curb the inflation, a renowned Chinese economist said. If the government wants to control the inflation effectively, the interest rate should be raised by 200 to 300 basis points next year...

Yuan above 6.6 a dollar for first time since 1993

SINGAPORE - The yuan strengthened beyond 6.6 per dollar for the first time since 1993 on speculation China will allow the currency to advance in an effort to tame inflation. The benchmark money-market rate hit a three-year high. The renminbi has climbed 0.5 percent in the past ...

Processing industry at root of trade imbalance

BEIJING - Even a large appreciation of the yuan will not substantively reduce China's trade surplus with the United States, as US operations in China are the major source of the bilateral trade imbalance, said a vice-minister of commerce on Wednesday. "Any adjustment to the yuan ...

Counting Costs

Editor's note: We started out looking for stories that would tell us how life on the ground is responding to the rising yuan and price hikes. We found tales of courage, resilience and of lessons learned and mastered. There is no clearer barometer of change than a country's ...

A yuletide gift for investors?

SYDNEY - China's Christmas Day interest rate increase was not exactly a bow-tied gift to investors but it is an opportunity. A failure by China to act firmly to stem price pressures would have had far more serious repercussions than continuing to tighten policy as investors would ...

China may raise interest rates again, say analysts

Higher borrowing costs expected next year to tighten money supply BEIJING - China's monetary tightening in 2011 may occur mainly in the first half as officials tackle the fastest inflation in more than two years, JPMorgan Chase & Co and Morgan Stanley said. The People's Bank of ...

China's central bank vows to stabilize prices

BEIJING - The People's Bank of China (PBOC), the country's central bank, reaffirmed Monday that it would give more prominence to stabilizing prices, and implementing a prudent monetary policy during the next year. Further, China will make its monetary policies more targeted, ...

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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