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Statistics bureau: Chinas 2008 GDP growth revised: BEIJING, Dec. 25 (Xinhua) -- 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 today. That raised GDP for 2008 to 31.4045 trillion yuan from the previous figure of 30.067 trillion ...

China strengthens lending regulations, focuses on credit risk control: BEIJING, Feb. 20 (Xinhua) -- 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 ...

Yuan is becoming a strong regional currency: Russian official: MOSCOW, Feb. 3 (Xinhua) -- 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....

China's new loans reach 2.6 trillion yuan in first quarter: BEIJING, April 12 (Xinhua) -- China's new yuan-denominated lending in March slumped to 510.7 billion yuan (74.8 billion U.S. dollars) from February's 700.1 billion yuan, the People's Bank of China, the central bank, said Monday. The March figure brought new yuan-denominated loans ...

China should reduce reliance on U.S. T-bills: economist: BEIJING, April 1 -- China should be cautious in buying or selling huge amounts of U.S. Treasury bonds due to the inherent risks they pose, Cheng Siwei, an influential economist, said on Wednesday, suggesting that the suitable ceiling for the nation's foreign exchange reserves is ...

China stresses maintaining stability of yuan exchange rate: VIENNA, May 19 (Xinhua) -- Chinese Minister of Commerce Chen Deming stressed Wednesday that, especially under the current financial crisis, the exchange rate stability is the most important, which is not only a national responsibility, but also a responsibility for the world ...

Chinese economy to continue rapid, sustainable growth: economist: CHICAGO, May 15 (Xinhua) -- Highly effective investment in infrastructure by the Chinese government and the urbanization process in China will ensure the continuous rapid growth of the Chinese economy in the next 20 years, said a distinguished economist on Saturday. Lin was very ...

China to raise deposit reserve requirement ratio by 0.5 percentage points: BEIJING, May 2 (Xinhua) -- 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 ...

Official: Currency reform "our own affair": BEIJING, June 28 (Xinhuanet) --China will not bow to pressure from the outside world on revaluing the renminbi and any changes in the nation's foreign exchange will be made on China's own terms, Chinese officials heading to the G20 summit in Toronto said at a press briefing. The ...

China's yuan hits new record high against USD: BEIJING, July 1 (Xinhua) -- The central parity of the Renminbi (RMB), or China's currency yuan, strengthened to 6.7858 per U.S. 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 ...

China's yuan hits new record high against USD: BEIJING, June 28 (Xinhua) -- The central parity of the Renminbi (RMB), or China's currency yuan, strengthened to 6.7890 per U.S. dollar on Monday, a new record high, according to the data released by the China Foreign Exchange Trading System. On Friday, the central parity of RMB ...

Industrial metals edge up on yuan policy moves: BEIJING, June 23 (Xinhaunet) -- Industrial metals extended gains on Tuesday in Shanghai, amid expectations that a more flexible yuan would boost China's imports of copper and zinc. Zinc for September delivery on the Shanghai Futures Exchange rose by 360 yuan, or 2.49 percent, to ...

China's yuan move signals end to crisis-mode exchange rate policy: experts: BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday. The People...

China decides to further reform RMB exchange rate regime: BEIJING, June 19 (Xinhua) -- The People's Bank of China, China's central bank, has decided to proceed further with the reform of the Renminbi exchange rate regime to enhance the RMB exchange rate flexibility, a spokesperson of the central bank said Saturday. The decision was made ...

China slams U.S. pressure on RMB exchange rate: BEIJING, June 14 (Xinhua) -- China on Monday urged the United States political figures to stop blaming others for U.S. economic problems and to solve the problems themselves, as pressure on the Renminbi exchange rate mechanism builds. U.S. Treasury Secretary Timothy Geithner said ...

China's machinery sector may cool in step with economy: BEIJING, Aug 5(Xinhunet) -- 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 ...

China's yuan stronger against USD Monday: BEIJING, Aug. 2 (Xinhua) -- 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 ...

China to continue exchange rate reform amid rise in production costs: PBOC official: BEIJING, July 28 (Xinhua) -- A senior Chinese central bank official said Wednesday China will continue to reform its exchange rate formation mechanism to consolidate coordinated and sustained economic growth amid a rise in production costs. "The current adjustment in the price of ...

China to further reform of yuan exchange rate formation mechanism: senior official: WASHINGTON, Oct. 7 (Xinhua) -- China would continue to further the reform of the formation mechanism of its currency (RMB) yuan exchange rate, but a sharp rise in the value of the currency would damage the Chinese economy, a senior official of the People's Bank of China (PBOC), ...

China's yuan rises to new record against U.S. dollar Monday: BEIJING, Sept. 20 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), rose 62 basis points Monday to a new record high at 6.711 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System. Monday's yuan central parity ...

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