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Chinese shares plummeted 5.21 percent on Monday, reacting to news that the producer price index (PPI) for industrial products had risen 10.0 percent year-on-year in July, with the benchmark Shanghai Composite Index down 135.65 points to 2470.07. The Shenzhen Component Index closed at 8,170.15 points, down 488.63 points, or 5.64 percent. Combined t...
Officials and industry leaders Monday admitted private enterprises in eastern Zhejiang Province faced difficulty under the current macroeconomic situation but noted it was not as serious as media had reported. Private firms in our province did suffer a reduction in profit, tight liquidity and a low level of creativity, said Liu Ting, deputy director o...
The producer price index (PPI) for China's industrial products was 10 percent in July over the same period last year, the National Bureau of Statistics said on Monday. The double-digit growth of PPI, which measures the value of finished products when they leave the factory, was the highest since 1996. The PPI jumped 8 percent in the first seven mo...
New Zealand Ministry of Agriculture and Forestry (MAF) biosecurity investigators were reviewing export systems after woolly apple aphids were found on fruit sent to China. Deputy Director-General Barry O'Neil said Chinese authorities discovered hundreds of the aphids, some of them still alive, in several containers two months ago, the New Zealand Pres...
China Eastern Airlines (CEA) announced on Sunday that the stake sale plan to Singapore Airlines (SIA) and Lentor Investments had failed. The preliminary agreement would become invalid if no further progress was achieved as of Saturday, the expiring date, according to a CEA statement. SIA and Temasek, Singapore's state-linked investment firm and th...
The Ministry of Commerce announced on Tuesday that it would start the retrial on Wednesday of the anti-dumping tax on coated art paper imports from Japan and the Republic of Korea. The retrial would last for a year. During that time, the former tax rate of 4 percent on the imports would apply, the announcement said. China implemented the tax on Au...
The Industrial and Commercial Bank of China Ltd. (ICBC), the world's largest bank by market capitalization, was officially approved by the Federal Reserve Board Tuesday to establish a branch in New York. This marks an important milestone in the process of globalization for the ICBC, said Wu Bin, the fifth chief representative of the ICBC New York Repr...
Minister of the State-owned Assets Supervision and Administration Commission Li Rongrong said Sunday that previously locked-up shares for major public-listed State enterprises should not be floated on the market on a large scale over a long period of time. The Chinese stock market, which tumbled 4.47 percent on Friday, has recently been skidding. The d...
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