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Yuan hits new record high against USD

BEIJING: The central parity of RMB, China's currency , strengthened to 6.7858 per US dollar on Thursday, a new record high, according to the data released by the China Foreign Exchange Trading System. China's central bank announced on June 19 that it would further the reform of ...

China's yuan weakens against US dollar Monday

BEIJING - The central parity rate of renminbi, or China's currency yuan, weakened 82 basis points Monday to 6.6692 per US dollar, according to the data released by the China Foreign Exchange Trading System. At present, the yuan is allowed to float on the inter-bank foreign ...

China's 2010 trade to post 25% growth: ministry report

BEIJING - Total volume of China's foreign trade is expected to hit $2.8 trillion for the whole year of 2010, up 25 percent year-on-year, the Ministry of Commerce (MOC) said in a report issued Monday. The country's overseas shipments will keep growing in the fourth quarter but at ...

Airlines Q3 profits jump on domestic demand

BEIJING - Air China Ltd and China Eastern Airlines Corp, China's biggest and third-largest carriers by market value, both reported record quarterly profit growth on the back of robust growth in domestic air travel and a strong yuan. Air China said late Thursday its third quarter ...

29% FDI surge shows confidence

BEIJING - China's foreign direct investment (FDI) for July surged by 29 percent from a year earlier. The figure represents the second highest monthly growth this year and highlights the confidence of foreign businesses operating in China despite recent suggestions about a ...

Macao's forex reserves reach $20.72b in July

MACAO - The preliminary estimate of Macao Special Administrative Region's foreign exchange reserves amounted to 165.7 billion patacas ($20.72 billion) at the end of July, 2010, the Monetary Authority of Macao said Monday. The reserves for July rose by 1.2 percent from 163.7 ...

CYTS H1 net profit up 10%

BEIJING - 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). The Shanghai-listed company attributed ...

New loans for China's SMEs up 23% in Q1

BEIJING - The total new loans for China's small and medium-sized enterprises (SMEs) grows faster than that for big companies, as the government measures to allow easier access to financing have begun to take effect, according to a Chinese central bank official. The SMEs in the ...

AIG retreat opens Asia to its rivals

NEW YORK - American International Group Inc (AIG), whose history in insurance spans 90 years from a Shanghai start-up to the biggest US bailout, is swapping its roots in Asia for cash as rivals seek to expand beyond shrinking markets. AIG's planned $35.5 billion sale of Hong Kong...

China Pacific gets nod for $3.4b HK IPO

China Pacific Insurance (Group) Co Ltd, China's third-largest life insurer, has received government approval for its long-delayed plan to float shares in Hong Kong to raise at least 23.3 billion yuan ($3.4 billion). The China Securities Regulatory Commission has approved the ...

Ping An premium income up in 2009

Ping An Insurance (Group) Co of China, the country's second-largest insurer, saw its life and non-life insurance premium income grew 31 percent and 44 percent in 2009, thanks to a better supporting platform and innovative services, the company's top management said today. The ...

Beverage executives jailed for stealing from employee fund

Three former executives of China's once biggest beverage maker, Jianlibao Group, have been jailed for stealing from the staff welfare fund, said a court official in south China's Guangdong province on Tuesday. A spokesman of the Intermediate People's Court of Foshan city said ...

Soho China says to buy properties

Soho China Ltd, the biggest developer in Beijing's central business district, may buy land and properties as government measures to cool the market could lead prices lower and developers to sell uncompleted projects. Chinese home prices may fall by as much as 20 percent and back ...

Auto JVs to benefit from cheap EU imports

SINGAPORE - PSA Peugeot Citroen and Volkswagen AG's joint ventures in China will benefit as a weaker euro reduces the cost of components imported from Europe, Nomura Holdings Inc analysts said. Dongfeng PSA, a partnership between France's Peugeot and Hubei-based Dongfeng Motor ...

Currency moves may imperil textile firms

BEIJING: Half of China's textile companies risk going to the wall if the yuan appreciates 5 percent against the US dollar, an industry lobby group warned. China National Textile and Apparel Council Vice-President Gao Yong attributed this knife-edge existence to the industry's ...

China top competitor for how long?

BEIJING - Despite the many challenges facing China's manufacturing industry, the country will remain king of manufacturing competitiveness over the next five years, consulting firm Deloitte said in a recent report. Backed by a relatively abundant pool of unskilled and skilled ...

Hopewell Highway to issue yuan-denominated bonds

Hopewell Highway Infrastructure Ltd, controlled by Hong Kong billionaire Gordon Wu, will issue two- year yuan-denominated bonds as soon as July, according to two people with knowledge of the matter. The bonds will be issued to institutional investors in Hong Kong and Bank of ...

Latest World News

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 ...

trade

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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