China posts 26% growth in trade with ASEAN in Q1
BEIJING, May 2 (Xinhua) — China’s foreign trade with members of Association of Southeast Asian Nations (ASEAN) amounted to 54.4 billion U.S. dollars in the first quarter of this year, a growth of 26 percent on the same period of last year, sources with the Ministry of Commerce said on Friday. But the sources did [...]
China urges strict local-level control of grain, fertilizer exports
BEIJING, April 30 (Xinhua) — The Ministry of Commerce has urged local authorities to strictly control grain and fertilizer exports and expand storage of farm produce to ensure domestic supply. The ministry has issued a circular requiring effective and rigorous measures be taken to implement state policies of controlling grain and fertilizer exports, the ministry [...]
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China to see greater uncertainties in its trade expansion
BEIJING, April 30 (Xinhua) — China’s trade expansion is expected to be hampered by greater uncertainties amid world economic slowdown risk, rising prices of raw materials on the international markets and the swiftly appreciating yuan, according to a report issued by the Ministry of Commerce on Wednesday. The report said the impact of the U.S. [...]
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Malaysian tycoon launches Chinese-language media powerhouse
KUALA LUMPUR, April 30 (Xinhua) — Malaysian tycoon Tiong Hiew King beat the gong at the Malaysia Stock Exchange here on Wednesday, announcing that his Chinese-language media powerhouse, the Media Chinese International Limited (MCI), is formally formed. Tiong’s long-awaited new entity came into being from the merger of his Ming Pao Enterprise Corporation Limited in [...]
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Canton fair closes with moderate growth in export deals
GUANGZHOU, April 30 (Xinhua) — The spring session of the biannual Canton Fair, or the 103rd China Import and Export Fair, closed here on Wednesday, clinching export deals worth 38.23 billion U.S. dollars, slightly higher than each of the two sessions last year. The value of export deals was 2.1 percent more than the autumn [...]
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Price rises drive down Indian share in China’s iron ore market
BEIJING, April 30 (Xinhua) — Indian iron ore miners are risking losing their Chinese market because of sharp price rises, said Luo Bingsheng, deputy director of the China Iron and Steel Association (CISA). Iron ore imports from India in 2007 rose 6.14 percent, or 4.59 million tonnes, to 79.37 million tonnes compared with the previous [...]
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Listed China firms post 50% rise in 2007 profit
BEIJING, April 30 (Xinhua) — The net profit of publicly traded Chinese companies soared 49.7 percent on average in 2007, boosted by the booming economy and high stock investment returns. All the listed firms but two had released their financial results for 2007 by Wednesday. Net profit of the 1,574 companies listed on the Shanghai [...]
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Australia: Chinese investment important to economy
CANBERRA, April 30 (Xinhua) — Australian Treasurer Wayne Swan said on Wednesday Chinese investment has a role to play in the Australian economy. The Australian government welcomed foreign investment and did not discriminate in terms of the source country, Swan told the Skynews. Swan’s comments came after China’s largest iron ore trader, Sinosteel Corp, appeared [...]
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EU extends anti-dumping duty against Chinese shoes to Macao
BRUSSELS, April 29 (Xinhua) — The European Union (EU) has decided to extend its anti-dumping duty against Chinese leather shoes to Macao, which the EU alleges was used by Chinese shoemakers as a transit for re-exports to Europe. The measure, approved by EU governments in Luxembourg Tuesday, aims to prevent Chinese shoe exporters from evading [...]
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Bank of China can’t confirm RBS insurance arm takeover
BEIJING, April 29 (Xinhua) — A Bank of China (BOC) official said on Tuesday that it was the first time he heard about the market rumors that the BOC was considering buying the insurance arm of the Royal Bank of Scotland (RBS) when Xinhua contacted him. A report by the southern Guangzhou-based 21st Century Business [...]
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