Economy & Trade

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. […]

Guangdong Government Launches Trade Website

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Feb. 19 – The local government has launched a website to provide information and services for Guangdong-based companies dealing in international trade. The companies will be able to use the site for various document and license applications as well as provide updates on the latest government trade policies and news on the global markets. It […]

China, Russia Sign Energy Pact

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Feb. 18 – China and Russia have agreed on an energy cooperation pact that will include building a crude oil pipeline and long-term crude trading and loans. The deal also comes with a financing scheme between the China Development Bank and Russia’s oil companies. Russia’s top oil operator and producer OAO Rosneft and OAO Transneft […]

China Industry: Feb. 18

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Feb. 18 – This is a regular series of relevant industry news from around China. Solar power Chinese solar cells maker JA Solar Holdings Co. Ltd. said it had extended its existing agreement with BP Alternative Energy Holdings Limited, a subsidiary of BP Plc, to supply monocrystalline and multicrystalline solar cells to BP Solar in […]

Foreign Direct Investment Drops by 32.7 Percent

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Feb. 17 – The Ministry of Commerce reported that foreign direct investment declined by 32.7 percent in January to US$7.54 billion year on year. This is the fourth straight month that China reported slowing FDI rates. Last December, the FDI rate was 5.7 percent. Commerce ministry spokesman, Yao Jian attributed the steep decline to the […]

Companies Now Allowed to hire Graduates without Hukou

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Feb. 17 – China’s State Council has announced that it will abolish the permanent residency requirement, or hukou,  to allow job seekers to move easily between cities and alleviate unemployment. The regulation is applicable to all cities in the country except Beijing, Shanghai, Tianjin and Chongqing. Small labor-intensive enterprises can also be qualified for as […]

China in Asia: Feb. 16

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Feb. 16 – Here is how China has been reported across the region over the past week. Can China and India Compete with U.S. Multinationals? ““East and South Asia are poised to become the long-term power centers of the world,” the director of national intelligence, Admiral Dennis Blair told the U.S. Congress on Thursday. “China […]

Chinese Ports Upgrade Facilities

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Feb. 16 – China’s shipping industry is taking advantage of the government’s RMB4 trillion stimulus plans by upgrading their logistics facilities. Despite the downturn, Chinese ports are improving infrastructure by building more dry hubs, domestic shipping lines in addition to expanding into barge, railway and road transportation. The Shenzhen Yantian Port is building a 500,000 […]

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