Economy & Trade

Online Shopping Rises by 128.5 Percent in 2008

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Feb. 24 – Online shopping rose by 128.5 percent to reach RMB120 billion in 2008, according to a report made by research firm, iResearch and top shopping website, Taobao.com. The number of those registering online to shop grew to 120 million, an increase of 185 percent from the previous year. The 2008 China Online Shopping […]

China in Asia: Feb. 24

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Feb. 24 – Here is how China has been reported across the region over the past week. The Economic Crunch Lunch While job losses, plunging currencies and cuts in interest rates are a more apparent form of the economic crisis, changing food habits are a less obvious alteration. As consumers give up fine dining for […]

Yangtze Ports Show Signs of Growth

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Feb. 23 – Cargo passing through the Yangtze River ports increased in January, the first time after six months of decline. Industry sources told Xinhua that businesses on the river will not see a full recovery until the year’s second half. In January, major ports in the area reported that cargo throughput of 80 million […]

China Industry: Feb. 23

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Feb. 23 – This is a regular series of relevant industry news from around China. Solar power Golden Sun (Fujian) Solar Technology Co. Ltd. plans to build a RMB950 million thin film solar cell R&D and manufacturing facility with an annual production capacity of 150 MW in the Mafang Industrial Park of Pinggu District. The […]

Brazil to Supply up to 160,000 Barrels Daily to China

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Feb. 20 – Brazil’s state-owned oil and gas giant, Petrobras, has agreed to supply from 100,000 to 160,000 barrels of oil daily to China. The oil will be sold to China at market prices and handled by China National Petroleum Corp. and Sinopec.The deal also includes a US$10 billion loan from the China Development Bank, […]

Foreign-Owned Banks Urged to Increase Lending

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Feb. 20 – The government is urging foreign-owned banks including Citigroup Inc. and HSBC Holdings Plc. to increase lending to support the slowing economy. Last month, the likelihood of defaults led foreign-owned banks to decrease lending and rein in credit.China’s banking regulator in Shanghai announced yesterday that foreign-owned banks should increase their contribution to China’s […]

China Reveals Details of Stimulus Package

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Feb. 20 – The State Council has announced additional details of the stimulus package in terms of plans to aid the country’s light industry and petrochemical sector. Processing trade restrictions on labor-intensive, technology-intensive, energy-efficient, and environment-friendly products will now be abolished. There will also be higher export rebates for selected light industrial products in addition […]

China to use Forex Funds to Boost Domestic Market

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Feb. 19 – The Chinese government said it will use its foreign exchange reserves to lift sagging imports and domestic demand. During a press conference, Fang Shangpu, deputy director of the State Administration of Foreign Exchange (SAFE) told China Daily that the administration would allow more measures to support Chinese firms wanting to expand overseas. […]

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