China News Direct

 
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China's Retail Sales Outperformed Foreign Trade
(Dec 25, 2009) The total amount of retail sales in China is expected to increase more than 15% year-on-year, according to Chen Deming, Minister of Commerce (MOC). The total retail sales of merchandise soared 15.8% year-on-year in November and grew 15.3% year-on-year from January to November, a growth much stronger than imports and ...
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Hong Kong Should Not Ignore Cruise Industry
(Dec 23, 2009) Wing On Travel appeals to the Hong Kong government to attach more importance to the development of cruise industry in a bid to raise the competitive strength and attraction of Hong Kong. The Hong Kong government should consider giving more discounts to support cruise industry development, said Lanny Leung, CEO ...
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China Sees Six Years of Good Harvest
(Dec 22, 2009) China's grain output is expected to increase for the sixth consecutive year, staying well above 500 billion kilograms for the third consecutive year, according to Ministry of Agriculture (MOA). The farming areas are expected to increase 34 million mu (1mu=1/6acre) this year, reaching 700 million mu during this winter and ...
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China's CPI To Rise 5% in 2010, Linked with Food and Housing
(Dec 19, 2009) Deutsche Bank's chief economist of Greater China, Ma Jun, forecast that China's CPI will reach 5% in 2010 although National Bureau of Statistics (NBS) sees no real threat from inflation. NBS' chief economist Yao Jingyuan said deflation was gone in China now that the CPI had climbed back to the ...
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Visa PayWAVE Available at 7-Eleven
(Dec 18, 2009) Visa International will work with 7-Eleven to set up 1,600 payWAVE POS terminals in over 950 stores in Hong Kong, enabling customers to enjoy fast shopping experience. Customers only need to wave their visa cards before the terminal for purchase of items with an amount of less than HK$500. Signing ...
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Suning Enters High-end Appliance Market in China
(Dec 17, 2009) Suning Appliances is going to open hundreds of luxurious household appliances stores in China over the next three years, targeting the affluent class. Suning plans to open 100 luxurious household appliances stores targeted at mid-and high-end consumers in first-tier markets. The company will firstly establish 20 stores in Beijing, Shanghai, ...
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China UnionPay Well Received in Taiwan
(Dec 16, 2009) Since the launching of China UniponPay service in Taiwan this August, the total amount of transaction has reached RMB400 million in just four months and a quarter of the card spending took place at Taipei 101 Shopping Mall. China UnionPay together with Agricultural Bank of China (ABC) launched the first ...
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Wake-up Call on China's Credit Cards
(Dec 14, 2009) A report by Horizon Research Consultancy Group (HRCG) said as many as 80% of credit cards issued in China were "sleepy cards" and most credit card customers were passive customers. The report released on 13 December showed that until the end of March 2009, there were 150 million credit cards ...
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NDRC: China To Reform Price for Stability
(Dec 12, 2009) China will actively and steadily push forward price reform, improving price control to keep overall price level basically stable, Deputy Director of the National Development and Reform Commission (NDRC), Peng Sen revealed at the National Price Bureau Director Conference. Peng indicated, in time of major changes and developments, China will ...
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China's Domestic Expansion Helps Co-op Sales
(Dec 11, 2009) All China Federation of Supply and Marketing Cooperatives revealed on 11 December 2009 that the cooperative system (co-op) has actively coped with the adverse effects of the international financial crisis and generated over RMB1 trillion of sales in the first 11 months of 2009, a rise of 13.54% on-year. Co-ops ...
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