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Wall Street opened sharply higher Monday, as the U.S. government revealed details of a plan to help banks remove as much as one trillion U.S. dollars in bad assets from their balance sheets. The U.S. Treasury Department on Monday announced a plan to revive lending that would rely on the government's 700 billion dollars of financial rescue fund, the Feder...
China said it had agreed with a private arm of the World Bank to increase trade finance. China reached a primary agreement with the International Financial Corporation (IFC) on purchasing IFC's private equities to finance trade credit, Vice Finance Minister Li Yong said on Monday. Li's comments came at a press briefing about Chinese President Hu Jinta...
Global trade will decline by some 9 percent in volume terms this year, the biggest such contraction since the Second World War, the World Trade Organization (WTO) said in a report on Monday. The contraction in developed countries will be particularly severe with exports falling by 10 percent this year, according to the annual global trade assessment repor...
Commerce Minister Chen Deming said on Sunday that it would be wrong to assume China didn't welcome foreign investment based on the country's disapproval of Coca-Cola's proposal to acquire China Huiyuan Juice Group. Chen made the remarks at the China Development Forum 2009 held in Beijing. The attempted acquisition took place between two foreign compa...
The nation will be flexible on some sensitive issues in global trade talks to stem the rising wave of protectionism, Commerce Minister Chen Deming said on Sunday. China will show flexibility on issues like the Agricultural Special Safeguard Mechanism to facilitate the completion of the multilateral world trade system, he said at the China Development Foru...
The Chinese mainland's trade with Taiwan and Hong Kong saw recoveries last month after year-on-year plunges in January, but continued to decline over last year, the latest statistics of the Ministry of Commerce showed. Data from the Taiwan, Hong Kong and Macao Department of China's Ministry of Commerce showed that the mainland had a total trade of 5.65 ...
China Investment Corp. (CIC), the country's sovereign wealth fund, was taking a cautious stance toward investments and would not invest in financial derivatives that had no obvious relationship with the real economy, CIC chairman Lou Jiwei said Saturday at the China Development Forum 2009. These derivative financial products should be phased out of the f...
A spokeswoman with China Leather Industry Association said Friday the adjusted policy on rawhide processing trade does not involve fur products. The association's spokeswoman Yang Hanxue said under the new policy, the customs duty and value-added tax are exempted for imports of rawhides and skins (HTS: 4101-4103) which are to be converted to leather prod...
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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