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Strong Exports Big Part of China's First Quarter Growth

A strong rebound in exports played a big part in China's 11.9 percent year-on-year economic growth in the first quarter, said an economist of a government think tank. Zhang Liqun, a researcher with the State Council's Development Research Center, said the 28.7 percent year-on...

China Fixed Asset Investment up 25.6% in Q1

China's fixed asset investment continued to show strong growth in the first quarter of this year on the back of increased investment in the property market, bolstering the economic expansion of the world's fastest-developing nation. Fixed asset investment rose 25.6 percent year ...

China's Economy to Grow by 10% in 2010

Powered by strong domestic demand, China's economy is expected to grow by 10 percent in 2010, said the International Monetary Fund (IMF) on Wednesday. "In China, GDP growth exceeded the government's 8 percent target in 2009 and is expected to be close to 10 percent in both 2010 ...

HK's Jobless Rate Falls to 4.4%

The Hong Kong government announced Tuesday that the unemployment rate fell to 4.4 percent in the January to March period while the underemployment rate rose by 0.1 percent to 2.2 percent. The Census & Statistics Department said the 4.4 percent figure was the lowest since the ...

China Creates 2.89 mln New Jobs in Q1

A total of 2.89 million new jobs were created in China's urban areas during the first three months this year, said the Ministry of Human Resources and Social Security (MOHRSS) Friday. From January to March, the urban unemployment rate fell 0.1 percentage points to 4.2 percent ...

CASS Predicts China's Economy to Grow 9.9 Percent in 2010

A leading Chinese government think tank Thursday forecast the country's 2010 economic growth would top the 8-percent target set by the central government by almost 2 percentage points. The Chinese Academy of Social Sciences (CASS) forecast China's gross domestic product (GDP) ...

Stable, High Growth Behind China's Success in Poverty Reduction

A leading World Bank expert has attributed China's remarkable success in reducing poverty to its ability to maintain stable and high economy growth over the past decades. "It is not just 'some' progress that china has made in poverty reduction," said Hans Timmer, director of the ...

Rising Costs of Raw Materials and Labor, Top Challenge for Chinese companies

New data released Saturday reveal nearly 80 percent of Chinese entrepreneurs view rising costs of raw materials and labor as the biggest challenge for the future. Rising costs of raw materials and labor topped the list of challenges for Chinese enterprises in three to five years, ...

Economic Pact With the Mainland an Opportunity for Taiwan

The secretary-general of the Boao Forum for Asia Long Yongtu suggested Taiwan take the opportunity to sign the economic cooperation framework agreement, or ECFA, with the mainland, while attending a forum here Monday. Long said ECFA has long-term strategic significance for both ...

Economic Cooperation Across Taiwan Strait Gains Momentum

Economic cooperation across the Taiwan Strait is gaining momentum with improved ties between Taiwan and the Chinese mainland, said mainland Taiwan affairs chief Wang Yi Wednesday. Economic exchanges showed great potential, Wang, director of the Taiwan Work Office of the Communist ...

China's 2010 Foreign Trade Rebound Still Fragile

China's Ministry of Commerce Tuesday made a cautious prediction for the outlook of the nation's foreign trade for the rest of the year amid the fragile global economic recovery. The rebound of China's overseas shipments in the first quarter can largely be attributed to the low ...

China Retail Sales to Rise 16% in 2010

China's Ministry of Commerce forecast Friday a 16 percent year on year increase in the country's retail sales for 2010 on a domestic economic recovery. An acceleration in urbanization will boost consumption and improvements in social welfare will also encourage consumers to spend...

Macao Records 2.9% Unemployment Rate

Macao's unemployment rate for the period between January and March stood at 2.9 percent, the same level as the previous period of December 2009 to February 2010, according to figures released on Tuesday by the city's Statistics and Census Service ( DSEC). The DSEC figures ...

World Expo a Boost to Shanghai's Global Financial Center Goal

China Merchants Bank, the country's six largest lender, said late Wednesday its net profit jumped 40.42 percent year on year to 5.909 billion yuan (865 million U.S. dollars) in the first three months of 2010. In a statement filed with the Shanghai Stock Exchange, the lender said ...

China Unveils Regulations to Boost Foreign Investment in Central Regions

Chinese Ministry of Commerce released regulations concerning foreign investment in China's central region here Thursday. The region - which includes the provinces of Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan - should attract high-end green industry with policy incentives and ...

RMB revaluation can't solve U.S. trade balance

Revaluation of the Chinese currency will not help solve the U.S. trade deficit problem, a renowned U.S. economist said here on Thursday. During a roundtable held in New York, Allan Meltzer, economist and professor of Political Economy at Carnegie Mellon University, told Xinhua ...

Job Vacancies Rise in China's 100 Cities in Q1

The employment market in 100 Chinese cities continued to improve in the first quarter, the Ministry of Human Resources and Social Security said Friday. Employers filled 5.52 million job vacancies via the public employment service agency during the January-March period, up 7 ...

HK Posts $3.34 bln Surplus in 2009/2010 Fiscal Year

The Hong Kong economy recorded a fiscal surplus of 25.9 billion HK dollars (3.34 billion U.S. dollars) in the 2009/2010 fiscal year, which ended on March 31, 2010, government data showed on Friday. In the 2009/2010 fiscal year, the city government collected 318. 4 billion HK ...

China to Raise Deposit Reserve Requirement Ratio by 0.5 Percentage Points

The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10. The ratio for the rural credit cooperatives and rural banks would remain unchanged at ...

Surging Food Prices to Drive CPI in April

Surging food prices and the strong economic rebound may trigger a record surge in China's Consumer Price Index (CPI) during April, analysts said on Tuesday. The key inflation gauge may increase by around 2.8 percent year on year in April, 0.4 percentage points higher than that of ...
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