finance

Gold futures on the COMEX Division of the New York Mercantile Exchange on Friday suffered a sharp drop, falling below 1,400 U.S. dollars, on a stronger dollar and speculation that China will raise interest rates to tame inflation. The most active gold contract for December ...
Chinese shares plummeted the most since Aug. 31 last year on Friday, as investors feared more interest rate rises after inflation hit a 25 month high in October. The benchmark Shanghai Composite Index lost 5.16 percent, or 162.31 points, to 2,985.44. The Shenzhen Component Index ...
The Chinese purchasing managers' index (PMI), which tracks manufacturing growth, fell in December to the weakest level in three months. The decline came after the central government decided to stabilize commodity prices and tighten monetary policy. PMI decreased to 54.4 from 55.3 ...
Industrial and Commercial Bank of China (ICBC), China's largest lender by assets, said Thursday it will raise up to 45 billion yuan (6.79 billion U.S. dollars) through a dual rights issue in Shanghai and Hong Kong to boost its capital base. ICBC's move to shore up its capital ...
A leading civil aviation company said Thursday that it hopes to have more deals with Boeing, which has more than half the market in China. "Our production of the nose section meets global standards, and we hope to be the supplier for Boeing," said Chen Liangju, general manager of ...
Raymond James Oil and Gas Analyst Luc Mageau believes that with relative near-term stability in oil and gas prices, making money in the exploration and production (E&P) space is all about picking the right companies. He covers mostly small players north of the border, especially ...
As US authorities have targeted Chinesealuminum products with a preliminary raft of anti-dumping and anti-subsidy duties, industry producers are beginning to feel the squeeze. According to customs figures from Foshan, Guangdong Province, aluminum product exports have dropped from ...
Gilles Mangin has been doing business in China for two years. He and his two Chinese partners opened a factory in 2008 to produce 1 million rubber boots a year for the overseas market. But Mangin was relieved to finally see orders for this year close in October, giving his ...
China's shipyards delivered less than 80 percent of their existing orders in the withering global shipping market, said a report from the China Association of the National Shipbuilding Industry (CANSI). A total of 70 million deadweight tonnage (DWT) of ships were scheduled for ...
Beijing, Shanghai and Hong Kong have jumped in a year to be ranked among the world's 30 most expensive cities for tourists and expatriate workers. The Chinese capital surpassed Hong Kong, a city well known for its lavish lifestyle, as it rocketed from 104th to 26th position in ...
Stephen Roach, former chairman of Morgan Stanley Asia, said that it is a big misunderstanding for Americans to blame Chinese for the job losses in the United States. He noted that even if China were to raise its currency yuan by 25 percent immediately, it would not save the U.S. ...
China's foreign trade is expected to hit a historic high this year, yet the nation's exporters are likely to come up against more trade barriers as the world economy struggles to stage a bullish recovery. The total value of China's imports and exports are projected to exceed 2.9 ...
China saw its trade surplus go down by 3.9 percent over the first 11 months of the year compared with the same period of 2009. But it is a plunge of 34 percent compared with the first 11 months of 2008, when the financial crisis began to bite the global market. It was almost ...
After concluding a high-level meeting in Washington DC Wednesday, top US and Chineseofficials announced progress had been made on beef, software and other bilateral trade irritants, but Beijing maintained that Washington needed to loosen its own export controls, agencies reported...
Even a large appreciation of the yuan will not substantively reduce China's trade surplus with the United States, as US operations in China are the major source of the bilateral trade imbalance, said a vice-minister of commerce on Wednesday. "Any adjustment to the yuan exchange ...
The yuan is not the main cause of China's trade surplus with the US, the Chinese foreign ministry said Thursday. "A large number of facts have demonstrated that the renminbi exchange rate is not the main cause of the trade imbalance between China and the US," ministry spokesman ...
China's trade surplus with the United States is the comprehensive reflection of multinational investment in China and adjusting the RMB exchange rate will have a very limited role in reducing the trade surplus, said Jiang Yaoping, vice minister of the Ministry of Commerce. Jiang ...
Leaders of the world's major developed and developing countries as well as major international institutions were gathering in the South Korean capital on Friday morning to discuss contentious issues including trade imbalances and monetary policies. Attending the Seoul Summit were ...
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 6.25 percent. The apex bank, in a statement issued in Lagos on Tuesday said this was one of the decisions taken at the meeting of the MPC held between Monday and ...
Deputy Governor of the People's Bank of China Yi Gang said China will take further steps to improve the exchange rate formation mechanism of the country's currency, the yuan. To promote the sound development of its financial market, China will also steadily promote the market...
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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 ...
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 ...
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 ...
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 ...