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China faces a threat of abnormal cross-border capital flow because of global financial tumult, the country's foreign exchange regulator said Tuesday. Such capital movement, resulting from the world economic slowdown and financial crisis, will bring with it potential risks, said Hu Xiaolian, head of the State Administration of Foreign Exchange (SAFE). ...
China's rural areas have the biggest potential in boosting domestic demand, said Chinese Vice Premier Wang Qishan during visits to the countryside concluded on Tuesday. China should especially place priority on tapping the rural market and developing the countryside when spreading global financial crisis blunted the country's economic growth, said Wang...
South Korean banks see the biggest risk in at least 10 years that consumers and businesses will default on loans amid growing signs of worries about economic recession, the Korea Herald reported on Wednesday. According to a survey to 16 local lenders by the central bank, the credit-risk gauge measuring lenders' concerns of loan defaults will rise to 4...
China imported 240 million tonnes of major energy commodities (oil, refined products, natural gas and coal) in the first 11 months of 2008, up 3.7 percent year-on-year, according to a report released on Sunday by the General Administration of Customs. The growth rate was 9.7 percentage points below the year-earlier level. These imports were valued...
China's foreign trade probably reached 2.55 trillion U.S. dollars last year, up 18 percent from 2007, according to an analysis released on Sunday by the General Administration of Customs. The trade surplus was about 290 billion U.S. dollars, it said. In the first 11 months of 2008, external trade was 2.38 trillion U.S. dollars, up 20.9 percent yea...
China UnionPay (CUP) recently formally introduced tax refund service for the goods purchased outside China by CUP standard cardholders. Today when CUP standard cardholders make purchases in over 250,000 shops around the world bearing the Global Refund Group's sign---"Tax Free Shopping", through a corresponding tax refund process, they will receive exci...
Rebounding global oil prices drove China's commodities to rise on Monday, with copper, zinc and aluminium leading the futures market. All of the 19 futures categories on China's three commodity exchanges in Shanghai, Dalian and Zhengzhou opened substantially high in the morning of the first trading day of 2009. Five categories, namely copper, zinc...
Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday. The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise, said the ministry in a not...
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