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Premier Wen Jiabao said yesterday that the world faces a gradual and bumpy recovery in the wake of the world's worst financial crisis since the 1930s. In a televised speech from a conference in Beijing, Wen said that the worst is over, but that there are risks. He didn't elaborate but the central bank said on Wednesday Chinese economy faces risks includ...
China will overtake the United States as the world's largest construction market by 2018, according to a forecast by Global Construction Perspectives and Oxford Economics on Thursday. The report said, in just 10 years, China's already massive construction market will be worth almost $2.4 trillion and represent 19.1 percent of global construction output....
China would not let the yuan gain against the US dollar in the short term, experts said in Beijing Thursday when commenting on the latest quarterly report of China's central bank. People's Bank of China (PBOC), the central bank, said Wednesday in its quarterly report of monetary policy, for the first time, that the bank would improve the mechanism of th...
Visiting Chinese president Hu Jintao called for China and Singapore to step up their defense and security collaboration yesterday during a State visit to the city-state on his way to the Asia Pacific Economic Cooperation (APEC) summit. "We hope the two nations will strengthen exchanges, upgrade the cooperation level and vigorously collaborate on humanitar...
A new pricing mechanism of fuel surcharge that links it with airlines' jet fuel costs has been introduced to offset rising jet fuel costs, China's top economic planner announced in Beijing Thursday. The National Development and Reform Commission (NDRC), together with the Civil Aviation Administration of China (CAAC), said in a statement on its website t...
FUEL price increases stand to help shipowners further to reduce excess capacity by encouraging slow steaming, says Paris-based Alphaliner. The consultancy now expects that if fuel prices climb above US$450 per ton to $650, this could bring the containership supply and demand to an equilibrium earlier than expected. But Alphaliner also warned that oil ...
THE Industrial and Commercial Bank of China (ICBC), the world's biggest bank by market value and deposits, has taken delivery of the first two ships in a 14-ship order that are part of two deals with Chinese companies worth US$853 million. "The shipping industry is still very new in China but the bank industry wants to use its resources to help heavy ind...
Chinese equities continued the declining trend Thursday after it fell slightly by 0.11 percent Wednesday, with the benchmark Shanghai Composite Index down 2.24 points, or 0.07 percent, to close at 3,172.95. The Shenzhen Component Index rose 73.36 points, or 0.56 percent, to close at 13,180.28. Combined turnover climbed to 252.85 billion yuan ($37.02 bil...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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