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Gold buying hits 200 tons: GOLD purchases in China rose to 200 tons in the first two months of 2011, helping to propel prices to a record, as Chinese flocked to buy the metal as a protector of their wealth against inflation, UBS AG said. The interesting thing about gold in the past month or so is that ...

News Bites: Construction of IPTV platform going well THE project to build a national IPTV platform was going smoothly, a senior Chinese official said yesterday. Building a broadcast and control platform in Internet Protocol Television (IPTV) services was to integrate the Internet, TV and ...

Foreign firms cut investment, move inland: FOREIGN investment in China s southern economic powerhouse is expected to fall 8 percent this year as firms migrate inland because of sharply rising wages and material costs, a survey found Tuesday. The latest American Chamber of Commerce special report on the state of business ...

Rail firms look abroad for expansion: CHINA S rail and train builders are now competing with Western heavyweights for global contracts, but analysts say a lack of international savvy could clip their ambitions. China already has 8,300 kilometers of high-speed rail and from next year will have more than half of the ...

Less energy used in growth: CHINA S efforts to reduce energy consumption per unit of economic output were less successful in 2010 with the reduction far less than achieved in the previous year. The National Bureau of Statistics said yesterday that energy intensity energy use per unit of gross domestic ...

China plans sweeping economic change: CHINA S leadership is promising to steer the economy in a new direction in its blueprint for the next five years that would empower consumers and narrow a yawning wealth gap. The latest Five-Year Plan a throwback to central planning but a useful roadmap of Party goals calls for ...

News Bites: SZ trade rises 86% in Jan. SHENZHEN reported US$33.25 billion in imports and exports last month, year-on-year growth of 86.1 percent, according to Shenzhen Customs statistics over the weekend. The processing trade contributed more than US$17.8 billion to total imports and exports...

Huawei asks for U.S. probe to dispel untrue concerns: CHINA S telecom giant Huawei issued an open letter Friday saying it welcomes investigations from the U.S. Government, if that could dispel misperceptions about the company. In the announcement posted on its Web site, deputy chairman of Huawei, Ken Hu, said he regretted that the ...

Nation plans airport building spree: CHINA would build another 45 airports over the next five years, the industry regulator said over the weekend, raising fresh questions about the potential for overcapacity in the transport sector. Li Jiaxing, the head of the Civil Aviation Administration of China, said the new ...

External surpluses rootcause of inflation problem: THE country s large external imbalances, combined with its intervention in the foreign exchange market, were the root cause of the country s inflation problem, Yi Gang, vice governor of the People s Bank of China (PBOC), said Saturday. China should increase the flexibility of the ...

Toyota to recall 5,202 Lexus cars in China: TOYOTA Motor (China) Investment Co. would recall 5,202 imported Lexus cars in China to fix a malfunctioning gas-pedal problem beginning March 23, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said Friday. Toyota s announcement of its recall ...

HK to boost land auctions: THE Hong Kong government may auction 52 plots of land this year, boosting supply to build more residential flats to head off risks of a property bubble. The city would make available for auction 18 new sites and 34 sites left over from the previous fiscal year in the year ...

Hong Kong grows at 6.8 percent in 2010: HONG KONG S economy has expanded by 6.8 percent in 2010 as it benefited from business ties with the mainland. The figures were released as part of the annual budget address by Hong Kong s Financial Secretary John Tsang. Analysts said Hong Kong had been benefiting from a growing ...

Study finds EU subsidies fortelecom infrastructure firms: AN internal study by China s Ministry of Commerce found the European Union and its member states have offered large subsidies to major telecommunications infrastructure companies, a practice that China views as being in breach of World Trade Organization rules, a person familiar ...

Chinese consumer confidence slides: A CHINESE consumer confidence index fell in the fourth quarter to the lowest since 2009 as inflation accelerated in the fastest-growing major economy. The measure was at 100, compared with 104 in the previous three months, Nielsen Co. and the Chinese statistics bureau s Economic ...

Huawei wins order in Motorola trade case: HUAWEI Technologies Co. on late Tuesday won a federal court order barring Motorola Solutions Inc. from disclosing a variety of confidential Huawei information to rival Nokia Siemens Networks. But Motorola Solutions said it was pleased the judge had denied Huawei s request to ...

News Bites: Factory growth at 7-month low THE steady ratcheting-up of monetary tightening had combined with the Lunar New Year holidays to weigh on China s factories in February, even as inflation had continued to accelerate, a survey showed yesterday. The HSBC flash manufacturing purchasing ...

Taiwan to allow mainland investors in chip firms: TAIWAN will allow mainland firms to invest in chip makers or set up joint ventures as part of a second round of sectors to be opened up as economic ties between the two sides deepen. Taiwan officials said yesterday that mainland firms would be allowed to take stakes of up to 10 ...

Chinese economy still dependent on exports: CHINA S central banker Zhou Xiaochuan said it would take at least a decade to shift the country s economy away from its export-based model, and that Chinese exporters would hold tenaciously onto foreign markets. Zhou acknowledged the debate raging between countries about the ...

Tax cuts to keep shoppers at home: THE government planned to reduce import taxes for items such as food, cosmetics and jewelry to stop people buying them overseas or through agents, domestic media reported yesterday. The move is aimed at saving billions of yuan in lost tax revenue. The value of goods bought ...

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