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World Bank President Robert Zoellick said Monday that Chinese economy is likely to make a strong comeback and that will help pull the world economy out of recession. Zoellick made the comments in a question-and-answer session at the on-going four-day International Economic Forum of the Americas in Montreal. Despite the global economic crisis, China has ...
US private equity giant Bain Capital has agreed to buy a major stake in China's top home appliance retailer GOME, a source with direct knowledge of the deal said on Sunday. The two parties were still finalising financial details at the weekend and an official announcement is expected as early as next week, said the source, who declined to be identified a...
Chinese economy has bottomed out and is stabilizing against the global economic downturn, but it would go through a U-turn recovery as a quick recovery could hardly be sustained, a researcher with the country's top think tank said in Beijing on Sunday. "Although the economy has bottomed out, it was touching a flat bottom, instead of a V-shaped bottom," s...
China is likely to complete its mandated emission cuts of major pollutants ahead of schedule, a senior official from the Ministry of Environmental Protection (MEP) told China Daily yesterday. By the end of 2008, the country had registered a drop in chemical oxygen demand (COD), a key test of water pollution, and the total emission of sulfur dioxide (SO2),...
China Railway Group has won five railway and light rail orders with a combined value of 10.1 billion yuan, bringing the total amount of contracts awarded to the State-owned rail builder to 200 billion yuan in the past few months. Analysts said the contracts won so far represent only part of the railway building frenzy...
Signaling a recovery in China's employment market, 3.65 million urban residents found new jobs in the first four months of the year, an executive meeting of the State Council presided over by Premier Wen Jiabao said yesterday. The short-term measures that the country has taken to counter the employment pressures are ...
China's foreign trade sector now faces unprecedented difficulties and is set to decline in the first half year, said Vice Minister of Commerce Zhong Shan Wednesday. It's increasingly difficult to make a quick turnaround and the situation will remain gloomy in the second half year, Zhong said. He made the remarks at a n...
In London, the Brent Crude contract was up $0.20 on June 2 to $68.17 per barrel on the ICE Futures exchange. Light Sweet Crude fell $0.03 to $68.55 on the New York Mercantile Exchange, RBC reports. (Source Port News)
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