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China's CPI rises 3.1% in May

BEIJING: China's consumer price index (CPI), a main gauge of inflation, rose 3.1 percent year-on-year in May, the National Bureau of Statistics (NBS) announced here Friday. The May figure was up 0.3 percentage points from April's rise of 2.8 percent. It also surpassed the central ...

Central bank injects $24.3b into market this week

BEIJING - The People's Bank of China (PBOC), the central bank, injected a total of 166 billion yuan ($24.3 billion) into the market this week through bill issues and repurchase agreements. In its regular open market operations on Thursday, the central bank auctioned 10 billion ...

China's May consumer confidence weakens

BEIJING: Chinese spent less in May amid volatile stock market fluctuations in the wake of the European sovereign debt crisis, according to the latest reading of an index that gauges consumer confidence published Wednesday. The Bankcard Consumer Confidence Index (BCCI), compiled ...

CDB's 2009 net profit surges 54%

BEIJING: China Development Bank Co said Tuesday its 2009 net profit jumped 54 percent year-on-year on increased lending. Its net profit for 2009 hit 31.9 billion yuan ($4.7 billion), according to the annual report posted on the bank's website. The bank said its outstanding loans ...

China reports big rise in auto sales in Jan-May

BEIJING - Automakers in China saw auto sales climbed 53.25 percent from a year earlier to exceed 7.5 million units in the first five months of the year, the China Association of Automobile Manufacturers (CAAM) said in a statement released Tuesday. Auto production also grew 55.39 ...

Chinese banks' forex surplus tops $92b in Q1

BEIJING: The surplus of Chinese banks' foreign exchange purchases to sales in transactions with clients in the first quarter stood at $92.7 billion, the State Administration of Foreign Exchange (SAFE) announced Tuesday. The figure did not include the amount from bank's own forex ...

China's farm produce prices drop five weeks in a row

BEIJING: Farm produce prices in China's 36 large and medium-sized cities have fallen for five consecutive weeks, the Ministry of Commerce said Tuesday. In the week ending June 6, farm produce prices dropped 0.6 percent in those cities from a week earlier, said a statement posted ...

Property sales plummet in May

Property sales in China's major cities of Beijing, Shanghai and Shenzhen dropped in May, with house prices declining as well, the Economic Information Daily reported Tuesday, citing data from a real estate brokerage. Sales volume of new properties in Beijing in May fell by 50 ...

Taiwan exports surge to monthly record of $25.5b in May

BEIJING: Taiwan's financial authority said Monday the island's exports in May totaled $25.54 billion, up 57.9 percent year on year and a new all-time single-month record. Taiwan's exports to its major destinations including the Chinese mainland, the Association of Southeast Asian ...

China's rural home appliances sales hit new high in May

BEIJING - Monthly sales of home appliances in China's countryside surged 220 percent year-on-year in May, boosted by the government's rural subsidy program for home appliance purchases, the Ministry of Commerce said Monday. The sales value soared to 12.6 billion yuan ($1.84 ...

Dongfeng Automobile sales reach 23,726 units in May

BEIJING - Dongfeng Automobile Co, Ltd (DFAC), China's largest light commercial vehicle manufacturer, said its vehicle sales in May reached 23,726 units. Production hit 21,742 units in the same month, a statement filed to the Shanghai Stock Exchange Saturday by the company said. ...

Food prices fall in late May: figures

BEIJING: Food prices in China's 50 major cities started to fall in late May, figures released Friday by the National Bureau of Statistics showed. During the May 21-30 period, vegetable prices in these cities had dropped. Prices of cabbages fell 7.5 percent, celery fell 2.1 ...

China's auto imports may rise about 20% this year

China s vehicle imports may rise about 20 percent, China Securities Journal reported, citing the China Automobile Dealers Association. Imports rose to 41,900 vehicles last year, the report said, without giving a percentage increase.

China spends $34.6b on renewables, Ernst & Young says

China joins America as the most attractive location in which to invest in renewable energy after spending $34.6 billion on clean-fuel projects last year, almost double the investments by the US, Ernst & Young LLP said. The world's third-largest economy climbed two points in Ernst ...

Shanghai tops as sourcing center

BEIJING: Multinational firms are expected to increase procurement value by 30 percent in Shanghai this year, thanks to the recovering economy and their expansion plans in China, a United States-based business-to-business media firm said Tuesday. In 2010, multinationals, including ...

Macao's casino revenue said to double to $2.12b in May

Casino gambling revenue in Macao, the world's biggest gambling hub, almost doubled last month, according to a person familiar with the information. Gambling revenue for the city's casinos in May rose to about 17 billion patacas ($2.12 billion) from 8.8 billion patacas a year ...

Shanda Interactive Q1 profit falls 36%

Chinese Internet firm Shanda Interactive Entertainment said on Wednesday its first-quarter profit fell 36 percent, as a lack of new game titles and maturing hit games crimped growth at its core online games division. Shanda posted a first-quarter net profit of $33.6 million, or ...

China's housing prices rise 2.8% in September

Housing prices in 70 of China's large and medium-sized cities rose 2.8 percent in September compared with the same month last year, according to the National Bureau of Statistics. Prices were up 0.7 percent from August, when they rose 2 percent from the same month in the previous ...

China's gold reserve ranks fifth in the world

China's gold reserve amounts to 1,054 tons, ranking fifth in the world, said Yi Gang, central bank vice governor on Tuesday. China is the largest gold producer in the world, with more than 300 tons of gold produced annually. China is also the second largest gold consumer in the ...

US became largest seafood buyer from China's Jiangsu province in Jan

NANJING: The United States was the largest buyer of seafood from east China's Jiangsu province in January with $10.44 million in purchases, more than a quarter of the province's total seafood exports. Exports of fish, seaweed, clams, crabs and lobsters to the United States grew ...

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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