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BEIJING - Bilateral relations between China and the United States continue to remain strong despite the recent tensions on the yuan issue, former US Treasury Secretary Henry Paulson said on Wednesday. Paulson said the US is grateful for China's responsible behavior during the crisis and its contribution to the anchoring of the US and world economy. "I ...
A sudden rise in the yuan would hurt the global economy as well as US consumers, Xia Bin, a member of the Chinese central bank's monetary policy committee, said on Thursday. "It's not in the core interest of the US to see the yuan appreciate," Xia told a financial conference. He added that China should peg the yuan to a basket of trade-weighted curren...
China and Costa Rica signed a Free Trade Agreement (FTA) in Beijing Thursday to remove trade barriers and enhance bilateral ties, the Ministry of Commerce announced in a statement on its website. The agreement was the first free-trade pact inked between China and a Central American country, and would help both sides tap into each other's market, as well ...
WASHINGTON - Federal Reserve officials at their March meeting stressed the need to make sure record-low interest rates don't feed new speculative bubbles in stocks or other assets. At the same time, some officials said the Fed's pledge to keep rates low for an "extended period" doesn't mean a fixed period of time. Rather, it depends on the strength of ...
BEIJING - China will continue to shut down outdated capacity in major industrial sectors to reduce pollution, save energy, and upgrade industry, the State Council, or Cabinet, said in a statement released Tuesday. The sectors include power, coal, steel, cement, non-ferrous metals, coke, paper making, tannery and printing and dyeing, according to the state...
ATHENS - A group of International Monetary Fund (IMF) auditors is expected in Athens on Wednesday for a new round of talks with Greek officials concerning the progress of the cash-strapped country's exit plan from its economic crisis. According to Greek government sources, the talks will focus on technical assistance regarding the fight against wide-spre...
BEIJING - The US decision to delay its report on exchange rate policies could bring a turnaround in the recent currency dispute with China, economists believe. Treasury Secretary Tim Geithner announced Saturday to delay a report to Congress on international economic and exchange rate policies, which might indicate whether China is manipulating its currenc...
Beijing - Small steel mills with steel blast furnaces less than 400 cubic meters in size are being told by the central government to shut down production by the end of next year. The State Council, China's cabinet, published a document on Tuesday, saying all steel blast furnaces in this size class will be closed to rein in overcapacity and force upgrades...
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