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Limited storage facilities are hampering China's efforts to import large volumes of oil while world prices are relatively low, an official with the Guangzhou customs house told an energy conference here Friday. Zhong Yanming, head of data analysis of the statistical department of the customs office, said he reached this conclusion based on monthly import...
The Bank of China (BOC) said Friday it would not bid for the Asian insurance unit of American International Group Inc. (AIG), since doing so would not conform to the bank's strategy. BOC would stick to commercial banking as its core business, BOC Chairman Xiao Gang told Xinhua. The other concern is that the losses of U.S. and European financial institu...
Statistics released by the Ministry of Agriculture on March 4 show that in 2008, export growth for China' s agricultural produce slowed down, imports witnessed high-speed growth, and the trade deficit increased rapidly. In 2008, the total import and export volume of China' s agricultural produce reached 99.16 billion USD, up by 27 percent year-on-year. ...
China's outbound merger and acquisition (M&A) activity is likely to increase in the next 12 months despite the global economic downturn, according to a recent survey by the Royal Bank of Scotland (RBS). The report said 63 percent of the respondents expect China's level of outbound M&A activity to increase, while only 21 percent said the level wo...
China has already become Canada's second largest trade partner in 2008, preceded only by the US. He Ning, Director General of the Department of American and Oceania Affairs of China's Ministry of Commerce, revealed recently in an interview. According to statistics from the General Administration of Customs of the PRC, the volume of bilateral trade betwe...
The 19th East China Fair ended Thursday in Shanghai, with signs that China's exports would be subdued for some time to come. Organizers said transactions totaled 2.24 billion U.S. dollars, down 39 percent from the previous session last year. The five-day event was sponsored by the Ministry of Commerce and was the largest regional commodity fair in Chin...
Guangdong authorities are offering billions of yuan in financial aid and abolishing more than 100 types of administrative fees to help firms funded by investors from Hong Kong, Macao and Taiwan. Speaking at a seminar on Wednesday, which was attended by executives from local chambers of commerce, Vice-Governor Wan Qingliang said the province has used the...
Australian statistics show that China was Australia's second largest trade partner, its largest source of imports and its second largest export market in 2008. According to statistics released by the General Administration of Customs of the PRC (GACC), in 2008, Australia was China's eighth largest trade partner, its tenth largest export market and its s...
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