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No winner in a currency war

By Xiao Gang Shifting public debts to other countries, blocking Chinese investments and limiting exports will affect global recovery It seems a wise decision by the Treasury Department of the United States to hold off releasing its semi-annual report to the Senate, thus delaying ...

Xiao Gang: Save euro, save globalization

Integrated community, currency and cross-border free trade need strong political leadership and coordination to revive In the wake of Europe's woes, more and more voices from European countries and beyond have been calling for the euro to be abandoned. Surveys in France show that ...

Chairman Xiao Gang Accepted the Exclusive Interview of People's Daily

Recently, Xiao Gang, Chairman of Bank of China, accepted the exclusive interview of People's Daily.This exclusive report was published in People's Daily on February 28th. The full text is as follows: What's the economic trend for the next period? How to carry out prudent monetary ...

Bank of China Domestic Branches' Transaction Volume of Cross-Border RMB Settlement Exceeded RMB 160 Billion

Making Full Use of Overall Advantage to Diversify Products and Services Since the launch of RMB settlement in cross-border trade pilot program, by making full use of overall advantage, and strengthening cooperation and linkage among its overseas and domestic branches, Bank of ...

Gold Closes Lower on Firm Dollar, Profit-Taking

Gold futures on the COMEX Division of the New York Mercantile Exchange ended lower on Wednesday due to a strong dollar and moderate profit-taking. Platinum declined, but silver gained. The Gold price for February delivery dropped 5.10 U.S. dollars, or 0.6 percent, to 850.10 ...

Announcement of the Investment Situation of the Asia Wealth Creation Choice Fund

Announcement of the Investment Situation of the Asia Wealth Creation Choice Fund Published time 2008-01-10 Incepted on October 2nd 2007, the Asia Wealth Creation Choice QDII financial product has an initial renminbi unit net value ofRMB1.000000 and a US dollar unit net value of 0...

China Sees Fastest Housing Price Rise in 18 Months Last December

China's property prices rose at the fastest pace in 18 months in December, ending the year with rising fears of bubbles in the property market. Housing prices in China's 70 large and medium-sized cities rose7.8 percent in December 2009 from a year earlier, and were up 1.5 percent ...

New Free Trade Zone to Benefit China

China's top brands could be on the road to becoming global household names after the launch of the 4.5 trillion U.S. dollars China-ASEAN Free Trade Area (CAFTA) market, the world's largest free trade zone, according to trade experts. Despite the country being an economic ...

China Strengthens Lending Regulations, Focuses on Credit Risk Control

China's banking regulator has issued two regulations that aim to tighten banks' lending and risk management controls. Banks must set a lending quota after "prudent calculation" of borrowers' "actual demand" and must not lend excessively, the China Banking Regulatory Commission ...

June Exports Hit Record High

China's exports for June hit a record high since July 2008 and the trade surplus also surged to the highest this year, but economists insisted such strong momentum cannot be sustained and there is little possibility that the yuan will gain by large margins, as widely expected ...

China's Yuan Stronger Against USD Monday

The central parity rate of the yuan, China's currency Renminbi (RMB), advanced to 6.7742 per U.S. dollar Monday from 6.7750 per U.S. dollar Friday, according to the data released by the China Foreign Exchange Trading System. China's central bank announced on June 19 that it would ...

China's Machinery Sector may Cool in Step with Economy

China's machinery industry has rebounded during the first half of this year, but the momentum is likely to slow as the country's economy cools. The machinery industry has grown by 37 percent during the first six months of 2010, with a total output value of 6.59 trillion yuan, ...

China CYTS Tours Holding H1 Net Profit up 10%

China CYTS Tours Holding Co. Ltd, a major travel service provider in the country, said Monday it's net profit in the first six months this year rose by more than 10 percent year on year to reach 117.2 million yuan (17.2 million U.S. dollars). The Shanghai-listed company ...

Growth Model Transformation the Major Task for China

Robert Zoellick, President of the World Bank (WB), said Wednesday the major task for China in the future is adjusting its economic structure and accelerating the transformation of its growth pattern. Zoellick made the comments at a press conference during his visit to Beijing to ...

Chinese Shares Close up at Midday Despite Rate Rise Expectation

China's stocks closed up in the morning trading session Monday despite the lingering possibility of an interest rate rise to curb inflation. The benchmark Shanghai Composite Index up 1.15 percent to 2,873.84. The Shenzhen Component Index closed at 12,661.96, up 1.62 percent, at ...

Home Prices in 70 Major Chinese Cities up 6.4% in December

Home prices in 70 major Chinese cities rose 0.3 percent month on month in December and 6.4 percent year on year, the National Bureau of Statistics (NBS) said Monday. The annualized growth rate dropped from 7.7 percent in November, making December the eighth consecutive month of ...

China to Open Currency Swap Businesses for Bank Customers

China will launch currency swap business for bank customers beginning March 1, in a move to help enterprises hedge against exchange rate risks, the country's foreign exchange regulator said Sunday. China began currency swap business in the interbank market in August 2007, and the ...

China's 2008 GDP Growth Revised to 9.6%

China has revised its gross domestic product (GDP) growth rate for 2008 to 9.6 percent from 9 percent, the National Bureau of Statistics (NBS) said Dec25. That raised GDP for 2008 to 31.4045 trillion yuan from the previous figure of 30.067 trillion yuan, NBS director Ma Jiantang ...

China's CPI Picks up Amid Rising Inflation Fears

China's consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year on year in December last year, the National Bureau of Statistics (NBS) announced Thursday. The figure rose sharply from the 0.6 percent rise in November when the index ended nine months of ...

Yuan is Becoming a Strong Regional Currency

Russian Deputy Finance Minister Dmitry Pankin told Xinhua on Wednesday the Chinese yuan was becoming a strong regional currency. Pankin said at the Russian Forum 2010 the increasing use of the yuan in international trade settlement "is a natural course." Russia was closely ...
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china

China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
China stocks close higher over liquidity injection
China stocks close higher over liquidity injection
BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

world

market

China cuts retail oil prices
China cuts retail oil prices
BEIJING, Jan. 24 (Xinhua) -- China's top economic planner announced on ...
Canada's main stock index tumbles over asset loss in emerging markets
Canada's main stock index tumbles over asset loss in emerging markets
TORONTO, Jan. 24 (Xinhua) -- Canada's main stock index fell sharply on ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...

company

industry

Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
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 ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

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sports

Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
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...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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