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China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China. The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report. China's retail sales in October...
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Low interest rates, especially the deposit rate, would discourage financial institutions from providing adequate financing to the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC) said Friday. He told the 2009 Business Week CEO Forum in Beijing that low interest rates would reduce pressure on financial institutions, removing incentives to actively provide financial services...
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China's Ministry of Commerce (MOC) announced Friday that it will maintain anti-dumping measures on some imported Toluene Diisocyanate (TDI) from Nov. 21. The anti-dumping measures target TDI, a widely used organic compound in the chemical industry, imported from Japan, the Republic of Korea, and the United States. The period will be five years. China launched anti-dumping measures on TDI from those...
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People Daily (Free subscription) | yesterday
China's telecom industry reported 698,9 billion yuan (101 billion U.S. dollars) in main business revenue for the first ten months this year, up 3.4 percent year on year, according to a statement Friday by the Ministry of Industry and Information Technology. To breakdown, business revenue of wireless telecommunications took 60 percent share while those for fixed-line business and data communications...
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China will issue 15 billion yuan (about 2.2 billion U.S. dollars) of short-term treasury bonds next week, the Ministry of Finance said here Friday. The book-entry treasury bonds, which is the 24th batch of its kind in the year, has a term of 273 days, said the ministry in a statement on its website. The T-bonds will be sold at an issue price of 98.979 yuan, with an annual interest rate of 1.39 percent....
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People Daily (Free subscription) | yesterday
Tax-take from the automobile industry has surged in the first 10 months this year as auto production and sales were booming in the world's largest market. The State Administration of Taxation said Friday value added tax (VAT) paid by the transportation equipment manufacturing industry grew 28.8 percent to 88.6 billion yuan (13 billion U.S. dollars) during the period, and business income tax revenue...
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The underlying consumer price index of Hong Kong for October fell 0.3 percent year on year, statistics authority said Friday. The composite consumer price index rose by 2.2 percent year on year, representing a larger growth than that in September, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said. However, the underlying CPI inflation, or the...
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South Korean Foreign Minister Yu Myung-hwan said Friday the government will not renegotiate with the United states on the free trade agreement (FTA) between the two countries. Yu made the comment while addressing the National Assembly, as a clarification to a remark President Lee Myung-bak made at a joint press conference with visiting U.S. President Barack Obama on Thursday, saying that he sought...
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The French government on Thursday unveiled a 35-billion-euro (52 billion U.S. dollars) national debt policy aimed at enhancing France's long-term development. A commission led by former prime ministers Alain Juppe and Michel Rocard on Thursday submitted a report to President Nicolas Sarkozy, outlining priorities of the financing campaign. According to the report, 13 billion euros (19 billion dollars)...
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Masaaki Shirakawa, the governor of the Bank of Japan (BOJ), denied on Friday there was a difference of opinion between his organization and the government, despite seemingly contradictory statements from the two sides on the economy being released earlier in the day. "I don't think there is a difference in our views on price moves," Shirakawa said at a news conference. Earlier in the day,...
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Senior officials from ASEAN nations' national and private banks gathered here on Friday to attend the 39th ASEAN banking council meeting. The annual bankers' meeting focused on how to speed up the process of the integration of ASEAN financial services by 2015, and discussed on the cooperation in finance, investment, education and ASEAN inter-regional relations. "The close cooperation among ASEAN...
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South Korea's financial watchdog said Friday it plans to allow naked bond short-selling in a bid to attract foreign bond buying. "The watchdog plans to prepare guidelines for banks' bond short-selling after discussing the matter with related authorities," Kim Jong-chang, governor at the Financial Supervisory Service (FSS), said in a revised statement carrying his speech at a forum. South...
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The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange fell 141.32 points, or 1.05 percent, to close Friday's trading at 13,329.66. The H-shares index, initiated in August 1994 and readjusted on Sept. 7, 2009, tracks the overall performance of 44 major Chinese mainland state-owned enterprises listed on the Hong Kong Stock Exchange. The Hang Seng China H-Financials Index dropped 199.68...
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Hong Kong shares closed down 0.87 percent, or 195.96 points at 22,447.20 on Friday, falling for a fourth day tracking losses on the Wall Street. The benchmark Hang Seng Index opened lower at 22,486.56, falling 0.69 percent, or 156.60 points. It fluctuated between 22,584.55 and 22,376.36 during the day's trading. The turnover moved down to 60.50 billion HK dollars (about 7.81 billion U.S. dollars) from...
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