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The China-Peru Free Trade Agreement took effect on March 1, China's Ministry of Commerce announced Monday. "The pact is a comprehensive deal and features a high degree of openness. The pact would further promote bilateral economic development and friendly cooperation," the ministry said in a statement on its website. Ninety percent of goods would be ta...
BEIJING - China's top economic planning body has confirmed the government will take concrete actions to develop a low-carbon economy after it pledged to substantially reduce carbon intensity at last year's Copenhagen Conference. China would include the low-carbon targets in the 12th five-year plan for national economic development (2011-2015) to build a...
Since 2004, the economic gap between China's east and west has narrowed, according to a Tsinghua University report. The report showed that since 1990, the coefficient of difference or gap between China's east and west per capita GDP peaked in 2004, hitting a record of 0.75, and then fell to 0.6 in 2008. Data from the National Bureau of Statistics (NBS...
Chinese economists are speculating that the government will rein in some of its expansive monetary policies this year. "Stimulus policies have done much in the crisis, but it is time to consider when and how to withdraw them," said Qin Xiao, chairman of China Merchants Bank Co, Ltd, the country's sixth largest commercial bank. Overcapacity in the steel...
NINGBO customs statistics show that the city achieved a trade value of US$6.1 billion in the first month of this year, a robust increase of 45.6 per cent over the same month in the preceding year, Logistics Week reported. The growth was 1.2 percentage points higher than the national average and 19.5 percentage points higher than the provincial average. ...
Shanghai: Capesize owners will be delighted by the tonne/mile scenario created by a leading Chinese steel mill’s latest investment decision. Wuhan Iron and Steel (Group) Corporation (WISCO) has now become the second largest shareholder of Brazilian iron ore miner MMX Mineracao e Metalicos SA (MMX. MMX has around 600m tons of reserves. WISCO, ...
China's banking regulators may raise large commercial banks' capital adequacy ratio to 11.5 percent from an earlier 11 percent level, people familiar with the matter confirmed. The 21st Century Business Herald said on Friday that the regulators may ask the country's top five banks to apply the increase. "The regulators meanwhile requires all the comm...
Copper prices may rise after a magnitude-8.8 earthquake halted mines in Chile, cutting supplies from the world's largest producer, Bloomberg reported Monday. At least four copper mines and two oil refineries were closed in Chile as electricity supplies were suspended by the earthquake, Bloomberg reported. The four mines account for 16 percent of the coun...
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