China News Direct

 
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Taiwanese Firms Welcome Preferential Policies
(Dec 22, 2008) The market generally welcomed mainland China's reaching consensus with Taiwan in economic and trade cooperations. The Chinese government has announced a series of measures to strengthen cooperation with Taiwan at the 4th Cross-Strait Economic Forum held in Shanghai, China. Representatives of Taiwanese enterprises joining the forum said they greatly welcomed ...
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Mainland Brings in More Policies to Promote Cross-strait Cooperation
(Dec 22, 2008) The Chinese government has introduced a series of measures to strengthen cross-strait cooperation, hoping to work hand-in-hand with Taiwan amid the global financial tsunami. Taiwanese enterprises in the mainland can now enjoy the same preferential policies on tax and credit as mainland enterprises do, and at the same time, they ...
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Liaoning's Shenyang External Trade up 27%
(Dec 19, 2008) In the first 11 months of 2008, Shenyang in Liaoning province realized total imports and exports value of US$6.59 billion, up 27.4% on year. The exports rose 26.9% to US$3.81 billion in the first 11 months while imports rose 28.1% to US$2.78 billion, leaving a net exports of US$1.03 billion, ...
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GDP May Drop Half Without RMB4tn Stimulus
(Dec 19, 2008) China may only see a GDP growth of 5.2% next year if the RMB4-trillion stimulus plan was not launched. Shanghai Securities Journal quoting an official from the National Development and Reform Commission (NDRC) that without the stimulus package, the economy may slow down to 5.2% as domestic demand in China ...
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Currency Swap as a Starter
(Dec 17, 2008) Hong Kong Monetary Authority (HKMA) Chief Executive Joseph Yam said the Hong Kong government would also like to propose a currency swap with the mainland, which would be a starter in building Hong Kong's RMB banking base. If the swap is confirmed, Hong Kong banks can obtain RMB open position ...
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Hong Kong May Expand RMB Business
(Dec 17, 2008) Hong Kong may be allowed to expand Renminbi (RMB) business and establish a currency swap between Hong Kong Dollar and RMB in the near future. Governor of the People's Bank of China (PBOC), Zhou Xiaochuan, said detailed studies had been carried on currency swaps and expanding RMB business in Hong ...
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Trade Surplus Tops US$280bn in '08
(Dec 17, 2008) Forecast by National Development and Reform Commission(NDRC), China's external trade value will soar 15% to US$2.5 trillion in 2008, leaving a trade surplus of US$280 billion, an addition of US$18 billion on year. China's foreign trade recorded a negative growth in imports and exports in November while exports to the ...
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Chongqing Free Trade Port Approved
(Dec 17, 2008) Chongqing announced on December 16 that the State Council had approved the formation of Chongqing Lianglu Cuntan Free Trade Port (Chongqing FTP). The Chongqing FTP will become the first inland bonded zone in China and an international logistic center at upstream Yangtze River and the western region. The bonded zone, ...
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RMB Currency Swap Helps Manage Risks
(Dec 17, 2008) Experts said Hong Kong's demand for Renminbi (RMB) could be fulfilled if it swapped currency with China. Zhang Ming, a scholar at the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS), said the Chinese central bank would sign token agreements with the Hong Kong ...
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More Interest Rate Cuts in View
(Dec 17, 2008) A declining CPI has become a source of pressure for the Chinese government to cut interest rate further by the end of 2008 or early next year. Governor of the People's Bank of China (PBOC), Zhou Xiaochuan, said the country's CPI had been dropping much faster than anticipated, which prompted ...
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