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Foreign direct investment (FDI) in China jumped 23.58 percent annually to 92.395 billion U.S. dollars last year, Yao Jian, spokesman of the Ministry of Commerce, said Thursday. But the rate for the whole of 2008 was lower than the 26.3 percent for the first 11 months of last year and 35 percent for the first 10 months. Source: CRIEnglish ...
China said it would cut benchmark retail prices of gasoline by 2 percent and diesel by 3.2 percent as of midnight Wednesday, in a rare move to cut prices twice in a month. Prices were last cut on Dec. 19. At that time, benchmark gasoline and diesel prices were lowered by 14 percent and 18 percent, respectively. The benchmark gasoline price will be ...
China's State Council unveiled a long-awaited support package for the auto and steel sectors Wednesday to boost the two pillar industries. Under the plan, the government will lower the purchase tax on cars under 1.6 liters from 10 percent to 5 percent from Jan. 20 to Dec. 31 in a bid to stimulate sales. It will also allocate 5 billion yuan...
The World Expo scheduled for 2010 in China's Shanghai will boost the global economy, Leo Delcroix, commissioner of the Belgian government for the exhibition, told Xinhua on Tuesday. I think the Shanghai Expo will give a big impetus, a big stimulus to the world economy, which is in difficulties due to the financial crisis, he said. As the global ec...
Sino-U.S. trade has seen drastic fall since the second half of last year because of the global financial crisis, the president and CEO of the U.S. Chamber of Commerce said Tuesday. And it will keep sliding in the first half of this year, Thomas J. Donohue said during his visit to China. But the two countries will be back doing well in 2010 after s...
Tianjin Binhai International Airport (TBIA) plans to bring in more passenger and cargo airliners to counter the global recession. In 2009, we aim to expand our cargo transportation volume by 30 percent to 240,000 tons while increasing passenger transportation volume by 35 percent to 6 million people, TBIA president Shao Dengxiang said on the local peop...
China's capital market still has great opportunities in spite of the global financial crisis and unpredictable factors of the capital market, Shang Fulin, president of the China Securities Regulatory Commission, said Wednesday. The central government's guiding policies, including keeping annual economic growth, expanding domestic demand and restructuri...
Baosteel Group Corp saw profit drop by nearly a third last year with higher iron ore costs and shrinking demand in the closing months of 2008. Profit fell 32 percent to about 23 billion yuan (US$3.36 billion), the Shanghai Securities News reported yesterday, citing an industry meeting. Since October, falling orders from customers like auto makers and s...
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