Trade News

China strengthens lending regulations, focuses on credit risk controlFeb 21, 2010

BEIJING: China's banking regulator has issued two regulations that aim to tighten banks' lending and risk management controls. Banks must set a lending quota after "prudent calculation" of borrowers' "actual demand" and must not lend excessively, the China Banking Regulatory Commission (CBRC) said in a statement on its website on Saturday. Banks are ...

The rise and rise of the 'rich class'Feb 21, 2010

Real estate tycoons crowd list of wealthy Chinese: expert Chen is one of the China's rapidly expanding "rich class". He has several properties in Beijing, including a grand courtyard house he uses solely to entertain friends and business associates. The large siheyuan, a traditional house found in the capital's sprawling hutongs, cost Chen 12 million ...

China to raise minimum purchasing prices for rice in 2010Feb 21, 2010

China's top economic planner said Saturday it would raise the minimum state purchasing prices for rice in major rice-production areas by up to 10.5 percent in 2010. The move was aimed to encourage farmers to increase grain production and help grain prices rise in a stable manner, according to the National Development and Reform Commission (NDRC). The s...

China, S Korea, Japan to launch joint study on trilateral free trade d...Feb 21, 2010

SEOUL: South Korea plans to launch a joint research with China and Japan on the feasibility of a free trade agreement (FTA) among the three Northeast Asian countries, South Korea's foreign ministry said Wednesday. According to a report by the ministry, the country, which has been seeking an economic integration of the Northeast Asian region by creating f...

China's natural gas output up 7.7% in 2009Feb 21, 2010

According to China Petroleum and Chemical Information (CPCI), an online publication focusing on China petroleum and chemical industry and the Asia-Pacific petrochemical market, China produced 83 billion cubic meters of natural gas in 2009, up by 7.7 percent compared with 2008. The statistics showed that China's apparent consumption of natural gas in 2009...

Visitor arrivals to HK up 17% during Chinese New YearFeb 21, 2010

HONG KONG: Total visitor arrivals to Hong Kong from Feb 13 to 19, dubbed as the Chinese New Year Golden Week, reached 782,163, up 16.9 percent over the same period last year, the Hong Kong Tourism Board (HKTB) announced Saturday. Out of the total arrivals, those from the Chinese Mainland took up more than 70 percent, said the board In particular, Mainla...

Ministry optimistic about iron, steel industry in 2010Feb 21, 2010

BEIJING: A report by the Ministry of Industry and Information Technology said the overall situation of China's iron and steel industry will be better than last year, thanks to the steady momentum of economic recovery. The report said four factors will have positive impact on the iron and steel industry: increased government investment, a clear recovery o...

RMB is not a cure-all for US economy: IMFFeb 20, 2010

WASHINGTON: An appreciation of the Chinese yuan will help US economic growth but it will not solve problems in its own economy, the International Monetary Fund (IMF) chief economist said Monday. A 20 percent appreciation of the yuan, formally known as renminbi or RMB, along with a similar currency appreciation by other emerging Asian economic entities may...

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Qingdao Saint Voyage Log

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