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MOFCOM Released Report on China's Foreign Trade Situation (Autumn, 2010)

The Ministry of Commerce (MOFCOM) released Report on China's Foreign Trade Situation (Autumn, 2010) on Nov. 1. The Report makes a review on China's foreign trade performance in the first 3 quarters of 2010, analysis on its features, forecasts in 2010 as a whole and the outlook of ...

Vice Minister Gao Hucheng Stressed: Seize the Opportunity to Realize the Great Development of Commercial Work in Central and Western China

Gao Hucheng, China International Trade Representative and Vice Minister of MOFCOM headed an investigation group in a tour to Sichuan, Anhui and Ningxia from March 21 to 25. During the tour, Liu Qibao, Secretary of the CPC Sichuan Provincial Committee and Director of the Standing ...

Tibet's Achievements Celebrated

LHASA - Padma Choling, chairman of the Tibet autonomous region, delivered a speech on Sunday to the Tibetan people in celebration of the Third Serfs Emancipation Day and promised more efforts for a new Tibet that is stable, united, democratic and well-developed. During the past ...

China's Shrinking Trade Surplus

BEIJING Throughout 2010, China was criticized by the United States Congress (and many others) for "manipulating" its currency in order to maintain an advantage for exports, and thus preserve its trade surplus. China's behavior, it was alleged, was the source of today's huge ...

Chinese Premier Seeks Opinions on Government Work Report, Economic Blueprint

BEIJING-- Representatives from different sectors have given feedback on drafts of the government work report and China's economic and social development blueprint for the next five years, the State Council, China's cabinet, said Friday. Premier Wen Jiabao chaired five seminars ...

China's January CPI Up 4.9%, Inflation Concerns Complicated by Drought, Global Commodity Prices

BEIJING-- China on Tuesday reported lower than expected consumer inflation in January, but pressure remains for the government to control inflation as the situation is complicated by ongoing drought and high global commodity prices. The consumer price index (CPI), the main gauge ...

ABAC: Chinese Economy Expects Strong Growth Due to Increased Inflation Pressure

GUANGZHOU-- According to an economic outlook report from an Asia Pacific Economic Cooperation (APEC) business advisory body, China's economy is expected to remain strong in 2011, but inflationary pressures are likely to rise further due to rising food prices. According to the ...

Two Sessions to Map Out Blueprint for China's Next Five-year Development

BEIJING-- The fourth session of the 11th National People's Congress, and the fourth session of the 11th National Committee of the Chinese People's Political Consultative Conference, will be held beginning next week. One important agenda to be weighed during the two sessions is to ...

Vast "Empty Nests", Disabled Aging Population Challenging China's Social Network

BEIJING-- China's vast number of aging citizens, empty nest and less able-bodied seniors are testing the country's social network and demanding improved policies and an insurance system to meet the demand, said an official with the China National Committee on Ageing (CNCA) on ...

China's CPI Rises 4.9% in February

BEIJING-- China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, the National Bureau of Statistics (NBS) announced Friday. The increase was the same as January's. China's January inflation figure remained stubbornly high at 4.9 ...

Premier: Curbing Inflation Tops Government's Agenda

BEIJING - China will step up efforts to improve people's livelihoods through holding down inflation, increasing affordable housing and raising farmers' incomes, Premier Wen Jiabao said on Monday. Inflation will top the government's agenda this year, Wen said. "Inflation is like a ...

China Set for No 1 Spot by 2030

HONG KONG / BEIJING - The World Bank's chief economist said on Wednesday that China's economy will probably become the world's biggest by 2030, when it will be twice the size of the United States, if measured in terms of purchasing power parity (PPP). "China could maintain GDP ...

China to Put Stabilizing Prices in More Prominent Position

The People's Bank of China (PBOC), the country's central bank, reaffirmed Monday that it would give more prominence to stabilizing prices, and implementing a prudent monetary policy during the next year. Further, China will make its monetary policies more targeted, flexible, and ...

World Bank Issues Its First-ever Yuan Bonds

The World Bank's first yuan-denominated bond offered investors the chance to diversify their currency holdings and promotes the internationalization of the Chinese currency, the yuan, or RMB, economists said. The World Bank China Office said Wednesday the World Bank has priced ...

China to Further Improve Yuan Exchange Rate Formation Mechanism

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...

China May Trim Loans by 10pct in 2011

China may cut lending by up to 10 percent this year and is also studying punitive measures to penalize lenders which lend excessively, the China Securities Journal reported Tuesday, citing unidentified banking sources. The newspaper quoted a bank official as saying that the ...

RMB Not Undervalued: UN Expert

The Chinese currency is not undervalued, if measured with Real Effective Exchange Rate (REER) based on Unit Labor Cost (ULC), a better way to grasp changes in competitiveness than looking at nominal exchange rate and REER based on Consumer Price Index (CPI), the United Nations ...

China's Property Tax Debate Escalates

Property taxes, seen as a silver bullet to curb excessive growth in China's housing prices, triggered an intense debate among economists and industry analysts recently, with some saying it may not help tame soaring prices but rather, increase costs for home buyers. "The property ...

Yuan Trade Barriers Coming Down

Zhou Xiaochuan, China's central bank governor, pledged to remove domestic policy barriers to promote the yuan's use in cross-border trade settlements and outward investments by Chinese enterprises. However, Zhou said the government does not have any predetermined goal for the ...

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 ...
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