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Nobel economist: Yuan is not the crux

The US trade deficit with China results from a myriad of factors, and pressuring China to revalue its currency won't solve the issue, a leading US economist said today. Joseph E. Stiglitz, Columbia University professor and Nobel laureate, said there are many other ways for the US ...

China opposes trade protectionism in all forms: envoy

UNITED NATIONS - China on Thursday voiced its support for the liberalization of global trade and opposition to trade protectionism in all its forms in order to pave the way for the economic recovery in the world at large. The statement came as Li Baodong, the permanent Chinese ...

Morgan Stanley: Yuan not to blame for US woes

BEIJING - Morgan Stanley Asia chairman Stephen Roach said Friday it was ironic for the US to blame China's currency for high unemployment rate and trade deficit, and trade sanctions on China would have a disastrous outcome for the United States. Complaints were growing about an ...

China calls on Washington to cool yuan pressure

China stepped up resistance Friday to US pressure over currency, calling on Washington to cool its "politicization and emotionalization" of the issue and warning a further rise in its yuan could drive exporters out of business. Beijing is trying to head off pressure from US ...

More yuan appreciation stress tests expected

China will conduct a new round of stress tests late March to see how much yuan appreciation domestic and foreign comapnies in Shanghai and the provinces of Guangdong, Zhejiang and Jiangsu and can withstand, the 21st Century Business Herald reported on Thursday. The Ministry of ...

China rejects criticism on exchange rate policy

BEIJING - China on Thursday defended its exchange rate policy, saying the value of its currency, the renminbi (RMB), was not the major cause of the US trade deficit with China. "It is unfair and harmful to continuously depreciate a country's own currency and ask other countries ...

Shanghai pitches $25b on urban Expo makeover

The Shanghai municipal government allotted 170 billion yuan ($25 billion) on urban facilities in 2009, an all-time high, as the city gears up preparation for the upcoming World Expo. The building spectacular includes a grand subway hub and a face-lift on the historical bund, said ...

China may conduct yuan stress test: report

China's Ministry of Finance may conduct yuan stress tests starting at the end of this month, the 21st Century Business Herald reported today, without citing anyone. The ministry may send teams to Shanghai and the provinces of Zhejiang, Jiangsu and Guangdong to conduct stress ...

Google, Rio Tinto cases not damage investment env't

BEIJING - China would stick to its policies of attracting foreign capital and the country's investment environment would not be damaged by the Google and Rio Tinto cases, a senior official said here Friday. Chen Jian, vice minister of Ministry of Commerce, made the remarks in ...

China, Indonesia should expand economic co-op

JAKARTA - Visiting Chinese Minister of Commerce Chen Deming said on Friday in Jakarta that China and Indonesia should make use of the opportunity of China-ASEAN Free Trade Zone to further expand their bilateral economic and trade cooperation. Chen made a speech at the luncheon ...

Drought-hit China region lowers grain output target

BEIJING - The Guangxi Zhuang Autonomous Region in southwest China Friday said it had lowered its grain output target for 2010 by 1.02 percent, as the worst drought in decades is likely to curtail production in the region. At a meeting to discuss spring farming held late last ...

Telephone chat calms rift between leaders

BEIJING - Disagreements between China and the United States that once provoked fears of a trade war may be cooling down now after Friday's telephone conversation between Presidents Hu Jintao and Barack Obama. The development came after China announced on Thursday Hu's plan to ...

China considers social security tax

China's Ministry of Finance is considering levying a social security tax in an effort to narrow the wide gap in income distribution, said a report in Friday's 21st Century Business Herald, citing Finance Minister Xie Xuren. Xie said in his article published in Thursday's Qiu Shi ...

China's iron ore talks with Vale, BHP 'pointless'

China's talks with the world's biggest iron-ore miners are "pointless" as its steelmakers have to accept the higher terms Vale SA negotiated with Japan this week, Jiangsu Shagang Group Co Chairman Shen Wenrong said. "We have no options," Shen, who heads China's largest privately ...

Trade deficit predicted for March

China's vice minister of commerce predicted that the country's trade in March probably ran a deficit due to increased imports, sina.com reported Friday. Chen Jian attributed the trade deficit to China's stimulation of domestic demand and said the government does not deliberately ...

Cutting officials' overseas trips saves $240m

BEIJING: About 1.63 billion yuan ($240 million) of public funds were saved last year by cutting the number of government and Party officials' overseas trips, down 37.6 percent from the previous year, China's National Bureau of Corruption Prevention says. The number of public...

China to play more prominent role in world trade talks

WASHINGTON: As the rise of developing countries is transforming world trade system, China will play a more prominent role in world trade negotiations, a trade expert said. "China, the largest exporter in the world, has a vital interest in the World Trade Organization (WTO)," Uri ...

Test shows yuan rise may cut export profits

If renminbi appreciates by 3 percent, Chinese manufacturers of household appliances, vehicles and cell phones will see a profit decrease of 30 to 50 percent, and some small and medium-sized enterprises may face losses, Economic Information Daily reported Friday, citing test ...

Cross-Strait economic pact's expert talks achieve positive results

TAIPEI: The Chinese mainland and Taiwan reached "a series of agreements" for a long-awaited economic pact during a second round of expert-level talks, according to a statement released Thursday after the meetings. During the two-day talks in Tashi, Taoyuan County, the two sides ...

China reaffirms openness to foreign investment

BEIJING - A Chinese Foreign Ministry spokesman Thursday said the government would as always welcome foreign investment and that it would maintain the mutually beneficial strategy of opening-up. Responding to questions at a regular press conference on doubts some foreign ...

Latest World News

world

Chicago unveils Chinese New Year celebrations
Chicago unveils Chinese New Year celebrations
CHICAGO -- Chicago held a ceremony Friday at the landmark Daley Civic ...
UN chief, Syrian FM in verbal clash at conference
UN chief, Syrian FM in verbal clash at conference
The first day of the peace conference in Montreux, was marked by ...
Chaos on streets after three reported killed in Kiev
Chaos on streets after three reported killed in Kiev
Three people have reportedly been killed in Ukraine's capital Kiev ...

market

finance

Panel to push financial reform in FTZ
Panel to push financial reform in FTZ
Financial reform in the China (Shanghai) Pilot Free Trade Zone will ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...
China economic reform in focus at World Economic Forum
China economic reform in focus at World Economic Forum
There’s been much talk of China at the World Economic Forum-and a ...

company

industry

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 ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Chinese steelmakers see profits plunge
Chinese steelmakers see profits plunge
China's 77 major steel companies reported an average profit margin of ...

trade

sports

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...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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