China's financial system is steady and safe in general, said Chinese Vice Premier Wang Qishan on Monday, adding the country would stick to the reform and opening-up of its financial sector. Wang made the remarks in his meeting with Honorary Chairman Andre Desmarais of the Canada-China Business Council. He said countries could hardly avoid impacts f...
Global gold and silver trading has posted record activity since the start of the credit crisis, according to the Bullion Markets 2009 report published in London on Monday by the International Financial Services London (IFSL). Gold turnover increased 58 percent in 2008 to a record 20.2 trillion U.S. dollars. Silver trading increased 39 percent during t...
The European Commission said on Monday it had launched a probe into U.S credit rating agency Standard & Poor for alleged abuse of its monopoly position by forcing financial institutions to pay for using its identification codes. The commission believes that S&P may abuse its monopoly position as the U.S. national numbering agency by forcing financial i...
Nepal desperately needs investment from countries like its neighbor China, especially at a time when the world is undergoing an economic recession, said Nepali Finance Minister Baburam Bhattarai. Addressing a high level roundtable financial meeting focused on attracting Chinese investments in Kathmandu on Sunday, Bhattarai assured an economic revoluti...
In recent years, with the increase of the number of netizens, e-commerce driven mainly by online shopping has been developing rapidly. According to Dr. Yuan Dengke, Deputy Director of the China E-Commerce Credit Research Center of the China Electronic Commerce Association, China's B2C (short for Business to Customer) e-commerce market in 2007 maintain...
China Eastern Airlines, one of the country's three biggest carriers, is expected to cut salaries of middle and top-level managers by 10 to 30 percent, the company said in a statement Friday on its website. The move takes effect Feb. 1 despite the fact the company announced it was getting a 7-billion-yuan (1.02 billion U.S. dollars) government cash ...
China's installed power capacity increased 90.51 million kilowatts in 2008, up 10.34 percent year-on-year, according to the latest report of the State Electricity Regulatory Commission. The total installed power capacity reached 792.5 million kilowatts at the end of last year. The investment in power infrastructure, including power plants and power...
More overseas Chinese students and scholars are expected to seek jobs in their homeland as the global financial crisis intensifies, a press conference was told Sunday in Shanghai. The unemployment problem caused by the crisis will prompt overseas students in the United States to come back for jobs, said You Weishun, director of the North America Chines...
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