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Chinese have long been renowned as for their ability to live within their means, avoid debt and save money, so a daunting challenge for officials and economic planners is now how further prise open consumer wallets. As exports and investment, two of the three main economic pillars of China's economy, remain lackluster due to the global financial crisis, ...
China's bank credit expanded in May, with new yuan-denominated loans reaching 664.5 billion yuan ($97.29 billion) in May, the People's Bank of China (PBOC), the central bank, said on Friday. The May figure brought new yuan-denominated loans in the first five months to 5.84 trillion yuan, far exceeding the full-year target of 5 trillion yuan. Outstandi...
China's industrial output expanded 8.9 percent in May from a year earlier, faster than the 7.3 percent rate in April, the National Bureau of Statistics (NBS) said Friday. The figure exceeded analysts' forecasts of less than 8 percent. It was the highest monthly growth rate since October last year, said the NBS in a statement on its website. Large indu...
China's exports and imports shrank for the seventh month in a row in May as the economic downturn continued to dampen global trade, the General Administration of Customs (GAC) said on Thursday. Exports fell 26.4 percent in May from the same period a year ago to $88.758 billion, compared with a decline of 22.6 percent in April. Imports were down 25.2 perc...
China Minmetals Non-ferrous Metals Co Ltd (CMN)'s acquisition deal with Australian miner OZ Minerals Ltd won OZ's shareholders' approval Thursday, CMN's parent China Minmetals Corp. told Xinhua. Zhou Zhongshu, China Minmetals Corp president, said: "This was a landmark for China Minmetals which could better develop its business in Australia, and it wil...
Brokerages have reaped a large commission income so far this year, collecting 47.6 billion yuan ($6.97 billion) in the first five months, up 37 percent year-on-year, according to the Shanghai and Shenzhen stock exchanges. Their commission income in May was 9.91 billion yuan, up 22 percent from a year earlier, Securities Times reported on Tuesday China'...
Chinese prices fell in May for a fourth month as food and energy costs declined from last year's high levels, data showed Wednesday, giving the government a freer hand to carry out its huge stimulus plan. The consumer price index for May declined 1.4 percent from a year earlier, the National Bureau of Statistics reported. The price of pork, China's stap...
The government has raised tax rebates for more than 600 export items, some up to the maximum level possible, as it stepped up efforts to provide succor to businesses battling the global economic slowdown. The Ministry of Finance said yesterday that it had increased tax rebates ranging from 5 to 17 percent on export products, including ethanol, toys and se...
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