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China expands pilot program of yuan settlement

BEIJING - China's central bank said on Tuesday that the pilot program of yuan settlement in foreign trade has been expanded to 20 province-level regions to facilitate trade and investment. The newcomers are Beijing, Tianjin, Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, ...

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 ...

RMB business expansion reinforces HK as int'l financial hub

HONG KONG - Renminbi (RMB) business in Hong Kong is of strategic importance to both China's mainland and Hong Kong, and the expansion of RMB business will help reinforce Hong Kong's position as an international financial center, said Hong Kong's Secretary for Financial Services ...

No quick fix for illegal rare earth hunt

BEIJING - China's tougher measures to crack down on illegal mining of rare earth may not have instant results, given the scattered distribution of the minerals across the south and resistance from local interest groups, industry experts said. But the situation will gradually ease ...

China to hold Sino-Arab economic, trade forum in September

BEIJING - The first Sino-Arab economic and trade forum will be held on September 26-30 in Yinchuan, capital of northwest China's Ningxia Hui autonomous region, the Ningxia government said Monday. The forum, to be held annually, will include events like meetings, commodity shows ...

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 ...

New loans to high-polluting industries to be banned

BEIJING - China's banking regulators Monday ordered financial institutions to stop extending new loans to projects already under construction that run foul of the country's policies of eliminating outdated capacities or saving energy and cutting emissions. The China Banking ...

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 to finish work on new hybrid rice in 2012

WUXI - Yuan Longping, known as the "father of hybrid rice", said on Sunday that his team was working on a new version of high-yield hybrid rice and might complete it in 2012. Yuan, director of the National Hybrid Rice Engineering Technology Research Center and a faculty member of ...

Indicators to scale exporters' responsibility

BEIJING - The Ministry of Commerce is using CSR (Corporate Social Responsibility) indicators like environmental protection and employee welfare to appraise exporters - including domestic- and overseas-funded enterprises - to ensure they meet international standards. The use of ...

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 ...

China wants to double trade with Canada by 2015

OTTAWA - China, the world's biggest exporting nation, wants to double its trade with Canada to $60 billion by 2015, President Hu Jintao said on Thursday. Hu made his remarks during a meeting with Canadian Prime Minister Stephen Harper, whose Conservative government is trying hard ...

China to provide subsidies for tech exports

China will provide subsidies for firms exporting technology services and software, the country's Ministry of Finance said on Thursday. In a statement posted on its website, the ministry said export deals exceeding $100,000 which received letters of foreign exchange payment from ...

Agreement opens Canada for Chinese tour groups

BEIJING - Chinese tour groups are expected to soon be able to visit Canada on tourist visas, as the two countries are expected to sign final agreements on Thursday (Canadian time) during the G20 Summit in Canada. A memorandum of understanding on enabling Chinese tour groups to ...

Date set for historic deal with Taiwan

Taipei - The Chinese mainland and Taiwan will sign a landmark trade deal next Tuesday, cutting import tariffs on hundreds of items and providing a major boost of about $100 billion annually in two-way trade, negotiators said on Thursday. The deal, which is considered the most ...

China funds set to flow into Malaysia

Malaysia recognized as approved investment destination by China China's banking regulator has recognized Malaysia as an approved investment destination, paving the way for an inflow of Chinese funds into this country, the Securities Commission (SC) said. The SC said Malaysia had ...

Big local govt debt to dampen banks' profits

BEIJING - The latent risk embedded in the massive loans borrowed by local government-backed investment entities might dampen the profitability of China's banking sector by 7.9 percent between 2010 and 2012, a government think tank report said. The 2010 Blue Book for China Finance...

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 ...

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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