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Magazine: Chinese banks earn 25% of profits world over: BEIJING, June 30 (Xinhuanet) --There are 84 Chinese banks sitting in the world's top 1000 now, though accounting for 9 percent of capital but making a quarter of profits, according to a global magazine "The Banker" tracking banking services. Bank of America has leapfrogged ...

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 ...

China's 2009 fiscal revenue tops 6.85 trillion yuan: minister: BEIJING, June 23 (Xinhua) -- Chinese Finance Minister Xie Xuren said Wednesday that the country's fiscal revenue exceeded 6.85 trillion yuan (1 trillion U.S. dollars) last year, 718.795 billion yuan, or 11.7 percent, up from 2008. Xie revealed the figure in a report on last year...

Yuan hits 5-year high against USD: [object Object]

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...

Pay hikes good for "long term": BEIJING, June 17 (Xinhuanet) -- Wage increases in a number of the country's labor-intensive industries will be good for employment in the long term, a senior official with the Ministry of Human Resources and Social Security has said. "For low-level enterprises developing ...

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 economic planner predicts 2.6% CPI growth in first half: BEIJING, June 12 (Xinhua) -- China's top economic planner Saturday forecast a "mild" year-on-year rise in the consumer price index (CPI), a main gauge of inflation, in June, resulting in an average CPI increase of around 2.6 percent in the first half. The projection by the ...

China's CPI rises 3.1 pct in May: BEIJING, June 11 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 3.1 percent year on year in May, the National Bureau of Statistics (NBS) announced Friday. The May figure was up 0.3 percentage points from April's rise of 2.8 percent. It also ...

China's May exports up 48.5%: BEIJING, June 10 (Xinhua) -- China's exports surged by 48.5 percent year on year in May, while the imports climbed 48.3 percent, the General Administration of Customs (GAC) announced Thursday. The growth rate for exports was 18.1 percentage points up from the figure for April, ...

"Second home" standardized: The Chinese Central Government announced Friday that its definition of what constitutes a second home will be based on the number of homes owned per family, rather than by each individual. BEIJING, June 7 -- The Chinese Central Government announced Friday that its definition of ...

China's central bank restates relatively easy monetary policy based on new changes: BEIJING, June 8 (Xinhua) -- China's central bank reiterated on Tuesday it would continue to implement the relatively easy monetary policy according to changing situations in a bid to facilitate the ongoing development mode transformation, as well as reinforce the country's sound ...

China's economic planner says vegetable prices to decline further: BEIJING, June 2 (Xinhua) -- China's vegetable prices will fall further with increasing supplies as temperatures continue to climb, the National Development and Reform Commission, the country's top economic planner, said Wednesday. Average retail prices for 15 kinds of vegetables, ...

Reform raises natural gas prices: BEIJING, June 2 -- The National Development and Reform Commission (NDRC) announced a 24.9 percent rise in natural gas prices Monday in a reform to spur supply of the cleaner-burning fuel, the use of which is growing fast as the country gives more weight to the environment. China ...

China's PMI of manufacturing sector down in May: BEIJING, June 1 (Xinhua) -- The Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 53.9 percent in May, down 1.8 percentage points from last month, the China Federation of Logistics and Purchasing (CFLP) said Tuesday. It was the 15th straight month that ...

China's CPI likely to peak in August: economist: BEIJING, Aug. 22 (Xinhua) -- China's consumer price index (CPI), one of the main gauges of inflation, will peak in August before starting to fall in the following months of the year, an economist said Sunday. "The CPI is likely to surpass 3.3 percent in August but that will be ...

Chinese premier urges development of northeastern China: BEIJING, Aug. 17 (Xinhua) -- The Chinese government on Tuesday called for further efforts to accelerate economic development in China's northeastern areas. The old industrial bases in northeastern China are at a key growth point and relevant policies should be carried out in full ...

China's July FDI inflows up nearly 30 pct yoy: BEIJING, Aug. 17 (Xinhua) -- The amount of foreign direct investment (FDI) that flowed into China in July rose 29.2 percent year on year to 6.924 billion U.S. dollars, a Ministry of Commerce (MOC) spokesman said Tuesday. The figure brought FDI inflows to China in the first seven ...

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Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

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