China News Direct

 
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China Invested Most in Hong Kong and Australia
(Aug 24, 2011) Chinese enterprises invested a total of US$27.63 billion in 2,169 overseas non-financial companies in 117 countries and regions from January to July 2011, but the growth in overseas direct investment (ODI) is easing. The Ministry of Commerce (MOC) of China has announced that the ODI grew 3.3% year-on-year to US$27.63 ...
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Fujian Suffers From All-round Cost Hikes
(Aug 23, 2011) A survey by Fujian Province Economic and Trade Commission reveals that as many as 63.9% of Fujian companies, large or small, are cash tight in the current economic environment. Despite record-breaking profits of RMB64.32 billion made by scaled enterprises during the period of January to July, many small and medium ...
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Guangzhou Benchmarks Wage Rise at 13%, Above GDP Growth
(Aug 23, 2011) Guangzhou has deliberated a government-guidelined wage growth benchmark, giving workers a maximum wage rise of 20% and a minimum 6% in 2011. Guangzhou has decided to give a benchmark wage growth higher than the GDP growth as inflation is rampant, according to officials at the Human Resources and Social Security ...
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China Seeks Public Opinion on RMB FDI
(Aug 23, 2011) The Ministry of Commerce of China is seeking public opinion on RMB foreign direct investment (FDI) which allows foreign companies, including Hong Kong, Taiwan and Macau companies, directly invest in China in RMB. Foreign investors will be able to directly invest in China with the RMB they possess, according to ...
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China Makes IC Cards Core Payment Method
(Aug 22, 2011) The People's Bank of China (PBOC) has gathered the efforts of China Unionpay and commercial banks to activate the use of financial IC cards nationwide, hoping to popularize the cards for contact-less small amount payments. Financial IC cards or proximity cards will be the gist of China's payment system amid ...
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Jiaxing, Zhejiang Gives Unprecedented Measures to Lift Services
(Aug 19, 2011) Jiaxing, Zhejiang has given unprecedented measures to boost its service economy which is expected to share a big part of its GDP in five years. Jiaxing needs to wait no longer when Nanhu Xintiandi, resembling Shanghai's Xintiandi and Hangzhou's West Lake Xintiandi, has been confirmed. Nanhu Xintiandi, which is a ...
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Chinese Exporters Shift Production Offshore to Lower Costs
(Aug 19, 2011) Some exporting and labour-intensive companies in China are shifting production to overseas countries in face of soaring costs, according to a report by National Development and Reform Commission (NDRC). Southeast Asian countries, such as Indonesia and Vietnam, have strong competitiveness today, and Vietnam and Indonesia have no export quota which ...
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Liaoning Approves US$808Mn Overseas Direct Investment
(Aug 19, 2011) Liaoning province in northeast China approved the overseas direct investment of 110 companies in the first half of 2011, investing US$808 million offshore. The 110 companies investing overseas represented an increase of 49.32% over the same time last year. Unaudited figures showed that some 70% of them were private enterprises. ...
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Foxconn in Talks with Hunan to Upgrade Industries
(Aug 19, 2011) Foxconn was in talk with Hunan province in upgrading industries and promoting economic advancement in Hunan. The meeting held in Changsha, the capital city of Hunan on August 18 was a beginning for Foxconn and Hunan in jointly fostering new industries and improving a number of social aspects. The duo ...
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China To Build Corporate Credit Database
(Aug 19, 2011) China's State Administration for Industry and Commerce (SAIC) will spend three years building a national economic household database that contains core corporate information such as credit information. In a management system and enterprise credit regulation meeting held yesterday in Taiyuan, Shanxi province, Zhou Bo-hua, chief of SAIC, said that corporate ...
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