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China will keep a neutral stance on oil prices after a fuel shortage receded, a top official said on Monday. Meanwhile, the nation would take measures to boost coal supplies to ease an electricity crisis, he said. The tight diesel supply situation has greatly improved, and gasoline supplies in particular are relatively adequate now, Zhang Guobao, he...
There's no stopping the retail boom as Shanghai's retail sales jumped 18.5 percent year on year in July to 37.7 billion yuan (US$5.48 billion), the highest figure recorded in a single month this year, the Shanghai Statistics Bureau said on Monday. The city's fixed-asset investment gained 4.6 percent in the first seven months to register 239.5 billion y...
China will complete the construction of its first four strategic oil reserves by the end of this year, a senior government official said Monday. The progress has been smooth and all the four bases will be completed by the year end, Zhang Guobao, administrator of the National Energy Administration (NEA), said after a press conference in Beijing. Their t...
Dealers of imported luxury cars with big engine capacities are halting their sales and seeking higher prices before the passenger car tax rise is to finally start on Sept. 1, locally based paper Beijing Times reports. An analyst with China Automobile Trading Co., Ltd said the import price of cars with engine capacities of 3 to 4 liters would be increa...
Longkou port in east China's Shandong Province is to launch two extra sea liner routes to Africa in the latter half of the year. Shandong Provincial Bureau of Port Shipping Services said Longkou Port dispatched 41 cement and sundry goods ships to African nations in the past seven months, with cement exports totaling 970,000 tonnes, accounting for 30 p...
The import and export value of northwest China's Xinjiang Uygur Autonomous Region doubled in the first seven months of this year to 11.58 billion U.S. dollars, 70 percent more than the national average growth rate. The remote Chinese region exported 9.89 billion U.S. dollars worth of commodities from January to July, almost double that for the same pe...
China's urban fixed-asset investment rose to 27.3 percent in the first seven months from 26.8 percent in the first half, the National Bureau of Statistics said yesterday. The amount of FAI in the January-July period settled at 7.2 trillion yuan (US$1.05 trillion), fueled by reconstruction work in Sichuan Province after the May 12 earthquake, analysts ...
China is to raise the coke export tariff rate to 40 percent as of August 20, up from 25 percent, said the State Council's customs tariff commission on Friday. This move aims to ease a tight coke supply in domestic markets and to contain export of products with high pollution and energy cost. China is the world's biggest coke exporter, which accoun...
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