Archive for January, 2008
Prudent policy pledged; social sector to get boost

    BEIJING, Dec. 20 — The Ministry of Finance has pledged to adopt a prudent fiscal policy to help cool the economy and prevent excessive price rises.     The authorities will also make efforts to improve people’s well-being by supporting such sectors as social security, health, education and housing, Xie Xuren, minister of finance, told a meeting yesterday […]

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China and Arabic countries forge economic strategic partnership

    By Xinhua writers Jiang Xufeng and Chen Yong     BEIJING, Dec. 19 (Xinhua) — With the New Year just around the corner, Dr. Maen Nsour, CEO of the Jordan Investment Board (JIB) came to Beijing, his third Chinese tour this year seeking investment and cooperation opportunities.     As head of the highest Jordanian government authority in […]

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China’s fiscal revenue grows rapidly on economic strength, improved collection

    BEIJING, Dec. 19 (Xinhua) — China’s central and local governments recorded 4.82 trillion yuan (654 billion U.S. dollars) in fiscal revenue during the first 11 months of this year, up 33.5percent from the same period of last year.     Revenue was 9.3 percent higher than the annual budget, Finance Minister Xie Xuren said Wednesday.     However, […]

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“Plan of Revitalizing Northeast China” released

    BEIJING, Dec. 19 (Xinhuanet) — Office of the Leading Group for Revitalizing Northeast China and Other Old Industrial Bases of the State Council, People’s Republic of China, released an English version of “Plan of Revitalizing Northeast China”>Column 1    Major Planning Indicators of Northeast China during the 11th Five-Year Plan Period Types Indicators 2005 2010 Annual Growth Rate […]

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China’s real estate boom continues in November

    BEIJING, Dec. 18 (Xinhua) — China’s real estate sector is continuing to boom despite tighter monetary policy, at least in terms of total fund inflows, the latest government statistics show.     Also, more foreign capital is going into the property market.     Just over 3,204 billion yuan (435.4 billion U.S. dollars) flowed into China’s property sector during […]

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Survey: Heavy taxes hamper Chinese private business

    BEIJING, Dec. 18 (Xinhua) — Heavy taxation has become a major factor that hampers private enterprises’ expansion, according to a survey by the China National Democratic Construction Association (CNDCA).     A report based on the results of the survey was released at the ongoing CNDCA 9th national congress, which opened in Beijing on Sunday.     According to […]

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China’s accommodation and catering sales rise 21.6% in Nov.

    BEIJING, Dec. 17 (Xinhua) — China’s accommodation and catering sales rose 21.6 percent to 110 billion yuan (14.9 billion U.S. dollars) in November over the same period a year earlier, the Ministry of Commerce announced here on Monday.     In the first 11 months, retail sales of the accommodation and catering industry totaled 1.11 trillion yuan, […]

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PBOC governor: CPI surge, U.S. interest rate cuts to influence China policy

    BEIJING, Dec. 12 (Xinhua) — China’s central bank governor, Zhou Xiaochuan, said on Wednesday that surging domestic consumer prices and recent U.S. interest rate cuts would have “considerable influence” over Chinese monetary policy.     The central bank, the People’s Bank of China (PBOC), would “seriously consider” the situation, added Zhou.     Zhou made the remarks at a […]

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Official: China’s sovereignty wealth fund to make prudent investment

    BEIJING, Dec. 12 (Xinhua) — China’s sovereignty wealth fund will maintain prudent investment and respect the laws in recipient countries, Finance Minister Xie Xuren said here Wednesday.     Speaking during a break in the two-day China-U.S. Strategic Economic Dialogue, Xie said that the fund would pursue long-term investment instead of short-term speculation, and would achieve a […]

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ADB: Macao ranks 3rd in per capita GDP in Asia-Pacific

    MACAO, Dec. 12 (Xinhua) — An Asian Development Bank (ADB) survey says Macao ranks third in per capita real GDP among 23 “developing economies” in Asia and the Pacific, only after Brunei and Singapore, the Macao Daily News reported on Wednesday.     ADB’s 2005 International Comparison Program (ICP), released on Monday, showed that Macao’s per […]

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