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The Chinese Academy of Social Sciences published its blue paper on China's economy of 2009 Tuesday afternoon, with a heavy emphasis on the country's GDP growth, employment, and stock and housing markets. The blue paper points out that China's GDP growth is expected to slow down to 9.8 percent for 2008, and further decline to 9.3 percent in 2009. ...
U.S. Assistant Secretary of State Daniel S. Sullivan said on Tuesday that the Obama team has already been briefed on the importance of the China-U.S. Strategic Economic Dialogue (SED). The transition between the Bush administration and the Obama administration is very closely coordinated, he told reporters here at the U.S.-China Conference on Inno...
The Coca-Cola Co. on Tuesday said it will not revise its offer for China Huiyuan Juice Group Ltd. despite the weak equities market. Li Xiaojun, vice president of Coca-Cola China, told Xinhua that the world's beverage giant is still confident about the outlook for Huiyuan's juice business. In a joint statement to the Hong Kong Stock Exchange on Tues...
Recently, after six years of export suspension, the first 600 tons of cooked chicken meat was transported to Europe by Shandong Zhucheng Foreign Trade Co., Ltd from Qingdao to the Port of Antwerp in Belgium. For the first time in six years the European Union (EU) market has re-opened its doors to Chinese poultry meat products. However, Shandong is the...
The Purchasing Managers' Index (PMI) of China's manufacturing sector dropped to 38.8 percent in November, down 5.8 percentage points from October, China Federation of Logistics and Purchasing (CFLP) told Xinhua on Monday. It was the index's lowest point since the CFLP initiated the survey with China's National Bureau of Statistics in 2005. It was ...
China's manufacturing activity will slow further before rebounding next year, investment bank Merrill Lynch said in a research note. Data released on Monday showed the purchasing managers' index (PMI) of the manufacturing sector plunged to a record low of 38.8 in November from 44.6 in October, as the global economic slowdown hit demand for Chinese goo...
Wall Street plunged amid economic woes Monday as investors cashed in some of their gains from the big rally in the previous week and key economic reports showed economic slowdown. Retail sales data failed to boost the market. According to preliminary calculation by RCT ShopperTrak, a research firm that tracks total retail sales at more than 50,000 out...
The dollar rose against the euro and the pound on Monday amid risk aversion after an official report declared that the U.S. economy is in a recession. The euro bought 1.2672 dollars in late New York trading compared with 1.2708 dollars it bought late Friday. The pound fell to 1.4910 dollars from 1.5412 dollars. The dollar fell to 1.2028 Swiss franc...
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