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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...

Shanghai Expo will 'not be extended'

SHANGHAI - Organizers of Expo 2010 Shanghai on Thursday dismissed rumors that the extravagant fair would be extended this year owing to the mounting public interest, saying the six-month event will conclude as scheduled. The Expo, a landmark occasion for Shanghai to establish a ...

City's logistics sector may be challenged

Offshore trade growth expected to undercut HK's transshipment biz Increasing offshore trade may pose a threat to Hong Kong's status as a logistics hub, with direct shipment, a shipping arrangement skipping Hong Kong as a transshipment station, expected to show strong growth ...

HK as financial hub: promise, challenges

This past May, Hong Kong saw local government leaders from the mainland arrive on the heels of one another, hunting for potential investors interested in their respective city projects. Although importing investment was the official theme, it is building respective financial ...

Northeast China to benefit from wind power

CHANGCHUN - In the remote county of Tongyu in northeast China's Jilin province, 14-year-old Li Ruixue has more memories about sandstorms rather than colorful flowers and clean rivers, due to the howling winds that sweep the area from spring to winter every year. Sand-filled winds ...

China again retailers' favorite

China returned to the top of this year's Global Retail Development Index (GRDI) for the first time since 2002, compared with last year's third place, according to global management consulting firm A.T. Kearney. The GRDI ranks 30 emerging countries based on a set of 25 variables ...

China August soybean purchases may decline on canceled orders

China's inbound shipments of soybeans may fall to 3.5 million to 4 million tons in August from about 5 million tons in previous months after some crushers canceled import plans on surging arrivals, researcher grain.gov.cn said in an e-mailed report today. The country's soybean ...

Shenzhen housing prices dip to a new low

Shenzhen s average housing price in May declined to 18,998 yuan ($2,788) per square meter, which is the first time the city s housing prices dropped below 20,000 yuan per sq m since December 2009, Shanghai Securities News reported Thursday. Housing deals in Shenzhen amounted to ...

China sets caps on purchases of subsidized home appliances

BEIJING - China's Ministry of Commerce announced Thursday it has revised with other government departments the home appliance replacement program to set caps on purchases. The new amendment to the "old-for-new" subsidy program requires that an individual can only buy a maximum of ...

Official reveals timetable for Sino-Australia FTA talks

DARWIN, Australia - Australia hopes for conclusion of the Free Trade Agreement (FTA) talks with China by the end of this year, said Chinese Deputy Minister of Commerce Chen Jian here on Wednesday. Chen, who followed Chinese Vice President Xi Jinping's visit to Australia, made the ...

Ceramic makers to unite in EU anti-dumping probe

GUANGZHOU - Chinese ceramic makers said Wednesday they would work together to defend themselves in the European Union's anti-dumping investigation into imports of Chinese-made ceramic tiles. The European Commission said Monday they had started to investigate whether imports of ...

Local govt debt could trigger financial crisis

BEIJING - The nation's chief auditor warned on Wednesday that local government debt will pose risks to the Chinese economy amid concerns that the debt could trigger a European-style financial crisis. The ratio of debt to disposable revenues at some local governments has exceeded ...

Methanol anti-dumping probe extended by 6 months

BEIJING - China's Ministry of Commerce (MOC) said Wednesday it has extended by six months a one-year anti-dumping investigation into methanol imports from Saudi Arabia, Malaysia, Indonesia and New Zealand. Originally scheduled to be completed Wednesday, the investigation is now ...

Striking cleaners return to work

Having been promised they will be paid the two months arrears in salary they are owed, more than 40 cleaning staff in Jian Wai SOHO in Chaoyang district restarted work on Wednesday after a two-day strike. "They haven't paid us any salary for two months," said Yang Na, a cleaner ...

Local govts 'want land sales' to pay back loans

Only four of 20 large Chinese cities saw residential land sales last week, according to a real estate sector report. The report by China Indices Research Institute that was published on Monday said residential land deals were clinched in Hangzhou, Suzhou, Changsha, and Chengdu ...

330m yuan of subsidies wrongly given to 62,900 'rich' families

BEIJING - Chinese auditors found last year 330 million yuan ($48.5 million) in government subsidies were wrongly given to 62,900 households whose income exceeded prescribed standards, the chief auditor said Wednesday. Liu Jiayi, head of the National Audit Office (NAO), made the ...

China moves to curb use of disposable chopsticks

BEIJING - Companies making disposable chopsticks will face local government restrictions aimed at decreasing the use of the throwaway utensils, according to a joint circular issued here Wednesday.The production, circulation and recycling of disposable chopsticks should be more ...

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 ...

China's chief auditor says 94.12b yuan embezzled funds recovered

BEIJING - China's audits last year revealed that funds embezzled from public finances totaling more than 94.116 billion yuan ($13.82 billion) had been recovered or returned, the national chief auditor Liu Jiayi said Wednesday. Liu, Auditor-General of China's National Audit Office ...

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 ...

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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