China News Direct

 
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Shenzhen Seeks Public Opinion about Minimum Wage Rise
(Mar 19, 2010) Shenzhen will raise the minimum wage in July this year, giving laborers a comparable or even better wage rise than those in the Yangtze River Delta Region. Wang Min, Director with Shenzhen's Bureau of Human Resources and Social Security, says the department is studying the wage adjustment on the basis ...
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Wuliangye's Net Profit up 79%, Brand Valued at RMB47bn
(Mar 19, 2010) Chinese winery Wuliangye Group achieved RMB11.129 billion of sales revenue in the financial year 2009, up 40.29% on-year. The wine company targets a 20% growth in sales revenue of core business and net profit in 2010, on top of the net profit of RMB3.245 billion of 2009, a growth of ...
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Yinchuan To Invest RMB22bn in 130 Fixed Asset Projects
(Mar 19, 2010) Yinchuan City, Ningxia will continue to strengthen the trade flows and investment in fixed assets, supporting at least 130 trade projects this year. Yinchuan will select a total of 130 model projects of fixed asset investment, concerning a total amount of RMB22.1 billion. These projects are industry representation and will ...
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Guangdong Continued Double-digit Growth in Car Import
(Mar 19, 2010) Guangdong ports saw the import of 17,000 vehicles in the first two months of 2010, an increase of 1.3 times on-year. Guangdong maintained a double-digit growth in import of vehicles for seven consecutive months since August 2009. The imports in February was strong at 7,822 vehicles, continuing the momentum of ...
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Yuan Has Risen in Real Term Against Most Currencies
(Mar 18, 2010) The value of Renminbi has risen in real term in recent years despite the US claim that the Chinese government has been manipulating its currency and the yuan is largely undervalued. China's nominal effective exchange rate (NEER) has appreciated 12.3% between July 2005 when China first launched the foreign exchange ...
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Economic Recovery Drives Local and Export Orders up
(Mar 17, 2010) Corporate demand continues to revive in China thanks to the vibrant recovery, with domestic and export orders both registering faster growth in the first quarter of this year over the previous quarter, according to a survey released by People's Bank of China (PBOC). Domestic and export order indexes climbed to ...
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Yuan Cross-border Settlement in Expansion Mode
(Mar 17, 2010) China plans to allow more cities to pilot yuan-denominated cross-border trade settlement, says Yao Jian, Spokesman with Ministry of Commerce (MOC). MOC is working with other regulatory departments to assess the initial trial programme conducted in five cities, says Yao, adding that authorities will optimize the relevant policies and roll ...
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MOC Decouples Yuan Value with Trade Surplus
(Mar 17, 2010) China should not be blamed for a trade surplus and she equally opposes politicizing commercial issues including the yuan exchange rate, said Ministry of Commerce spokesperson Yao Jian. On Monday, 130 law makers in the U.S. sent a co-signed letter to U.S. Treasury Secretary Timothy Geithner and Commerce Secretary Gary ...
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Changsha Holds Bank-SME Business Matching Fair
(Mar 16, 2010) Changsha city in Hunan is going to launch a series of bank-business matching activities that draw an estimated RMB5 billion of loans to SMEs. In March, Changsha city will give out SME development funds of RMB20 million to sponsor SME financing and to reward banks for financial innovation. In a ...
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Taiwan Fights for 500 Tariff-cut Items in ECFA
(Mar 16, 2010) Taiwan plans to include TV panels in the early harvest list of the Economic Cooperation Framework Agreement (ECFA) to be signed with mainland China, target a zero tariff. A source familiar with the matter notes that officials from Taiwan will make efforts to discuss the issue with mainland China's counterparts ...
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