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Canton Fair, China's largest trade fair and a key barometer of its trade and economic development, opened Friday amid growing concerns that a stronger yuan would weigh on the nation's exports. In addition to business opportunities, the multitudes of sellers and buyers at the fair, officially known as China Import and Export Fair, are watching closely ...
CHRONIC trade surplus in China has created "a currency war" where many global currencies hang in the balance with Chinese yuan low and exports cheap imbalance trade with the US that hurts the global transport and logistic sectors, says the International Monetary Fund (IMF). IMF head Dominique Strauss-Kahn said the willingness of countries to pull togeth...
BEIJING - China Thursday reaffirmed its steadfast determination to advance the reforms of the formation mechanism of the renminbi, or the yuan, exchange rate but dismissed calls for the currency's appreciation. "We are all on the same boat in the age of globalization. It is self-evident renminbi's appreciation is not a cure for the US trade deficit. A...
GUANGZHOU - China's exports will face major challenges created by the ongoing yuan appreciation and slow global economic recovery, trade officials have said. "We don't have high expectations for the value of the contracts that will be signed at the China Import and Export Fair," the event's organizing committee spokesman Liu Jianjun said. The 108...
BEIJING - China's top economic planner said Thursday that auto prices fell slightly in September for a third consecutive month, and were expected to continue falling in the fourth quarter. Prices of cars made in China were down 0.4 percent from August and 0.3 percent from September last year, the National Development and Reform Commission (NDRC) said i...
China is ranked fourth out of 10 countries and regions as a hot spot for energy investments and could climb higher if it improves its legislative process and financial incentives to woo investors, Reuters said Friday, citing to a consultancy report. The world's second-largest oil user was ranked No 4 in energy policies relating to fossil fuels and rene...
BEIJING - China-Africa trade is expected to bounce back to "pre-crisis levels" and is on track to hit a record high of more than $110 billion this year, the Ministry of Commerce said. Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation under the ministry, also predicted China-Africa trade will "likely grow by aro...
BEIJING - A nationwide audit on cutting energy use and emission levels revealed that local governments have withheld 448 million yuan ($67.12 million) of State funds allocated for this purpose and misused another 43.5 million yuan during the country's 11th Five-Year Plan (2006-2010) period. Nine people have been punished for their involvement in the fi...
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