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BEIJING - The chances of a Greek-style debt crisis unfolding in China appears remote in spite of the burgeoning local debt, but risks from the surge will test the nation's financial health over the next few years, experts said on Wednesday. Crisis concerns in China developed after a big chunk of the new lending was used to fund public work projects which...
BEIJING - China appears to have notched up a victory in a dispute against the United States over the latter's ban on poultry imports, according to an interim report by the World Trade Organization (WTO). "We think the US will not try to impose a similar ban in the next fiscal year, since it would be regarded as open defiance of the latest WTO ruling," a ...
BEIJING – Proposed US legislation aimed at punishing China unless it lets the yuan rise would not be in line with World Trade Organization rules, China's Ministry of Commerce said on Saturday. US Senator Charles Schumer said on Wednesday he and other colleagues would push for a vote in the next two weeks on legislation that would allow the US Com...
WASHINGTON - Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues. A sharp drop in retail sales revenue for May shows that shoppers remain cautious, and it could lead economists to curtail their expectations for growth. Analysts cautioned against overreacting to Friday's Commerce Department rep...
BEIJING - Negotiations on the long-awaited Economic Cooperation Framework Agreement (ECFA) between the Chinese mainland and Taiwan have made pronounced progress and are approaching completion, said a Taiwan affairs spokeswoman Saturday. Fan Liqing, spokeswoman of the State Council's Taiwan Affairs Office, said at a regular press conference that "the tw...
BEIJING -- China Southern Airlines had the third largest number of passengers in the world in 2009, only behind American Airlines and Delta Air Lines, the Chinese airline said Saturday. It flew a total of 66.28 million passengers in 2009, ranking the third in the latest World Air Transport Statistics by the International Air Travel Association (IATA), a...
The amount of foreign direct investment (FDI) into China in May rose by 27.48 percent year-on-year to $8.13 billion, said Yao Jian, spokesman of the Ministry of Commerce (MOC), Saturday. The figure brought the country's FDI to $38.92 billion in the first five months, an increase of 14.31 percent from a year earlier. Yao said that in the first five ...
BEIJING - China's top economic planner Saturday forecast a "mild" year-on-year rise in the consumer price index (CPI), a main gauge of inflation, in June, resulting in an average CPI increase of around 2.6 percent in the first half. The projection by the National Development and Reform Commission (NDRC) came one day after China released its latest econ...
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