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Rising domestic iron ore production and slowing steel demand have hit some foreign miners and affected the global market, industry leaders said on Tuesday. China's iron ore imports dropped for the third straight month to 47.2 million tons in June, while spot prices have dropped to about $122 per ton after peaking at $185 per ton in April. The count...
SHANGHAI's trade with Taiwan increased 66.6 per cent year on year to US$15.69 billion in the first half of 2010, showing 27.1 per cent more growth than the city's total foreign trade volume, reported Xinhua. Shanghai export volume to Taiwan reached a value of US$5.27 billion, a growth of 66.4 per cent year on year. Import value came to US$10.42 billio...
BEIJING - China's slowing manufacturing activities indicate further deceleration in the country's economic growth in the months to come, but the short-term chances of policy relaxation are slim, economists said. The official purchasing managers' index (PMI), a leading indicator of economic health released on Sunday by China Federation of Logistics an...
Mingyang Electric, one of the five biggest wind power turbine suppliers in China, plans to raise $500 million in a share sale in the United States in September, in what could be the largest such listing by a Chinese company this year, the International Financing Review reported. Bank of America Merrill Lynch, Credit Suisse Group AG and Morgan Stanley ar...
URUMQI - The Chinese economy is on track to fare well this year if recent natural disasters do not disrupt grain supply and fuel high inflation, said Zhao Xiaoyu, vice-president of the Asian Development Bank (ADB). The global economy is also unlikely to encounter a double dip, he told China Daily in an exclusive interview. Despite the fall in July i...
SHANGHAI - Star Mall Group, a real estate and investment company in Turkey, announced a plan on Monday to open 10 shopping mall projects in China over the next 10 years. "The 10 projects are expected to involve a total investment of $2 billion, with two this year and two next year," said Bulent Ulusoy, chief executive officer of Star Mall Group on Monda...
China's non-manufacturing industries expanded at a faster pace in July. A purchasing managers' index released today by the China Federation of Logistics and Purchasing rose to 60.1 from 57.4 in June. A number above 50 indicates an expansion and below 50 a contraction. The federation's non-manufacturing PMI is based on data compiled from pur...
Representatives of the Panama Canal and the Port Authorities of the U.S. state of Mississippi signed an agreement Monday to develop bilateral trade. "The agreement represents an important opportunity for Panama and Mississippi to strengthen and develop their trade ties," said Alberto Aleman, administrator of the Panama Canal. The deal aims to develo...
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