FDI approval process eased In an effort to attract foreign direct investment (FDI), China gave local governments more authority to approve incoming overseas capital. The simplification of the approval process comes after four months of falling FDI to China as U.S., European and Japanese companies cut investments in factories and workers in China. Local governments […]
Massive drop in exports Chinese exports in February fell much steeper than analysts had expected. The drop of 25.7 percent compared with a year ago continues the trend of falling export rates of the last four months, but is significantly steeper than the previous declines. Imports also fell sharply by 24.1 percent in February. China’s […]
Declining consumer prices cause fear of deflation A 1.6 percent drop in consumer prices in February from a year earlier sparked fears of increasing deflationary problems in China. The price drop in February ends more than six years of price increases, with February 2008 seeing a record consumer price index (CPI) rise of 8.7 percent […]
NPC vows close supervision over stimulus plan Wu Bangguo, chairman of the Standing Committee of the National People’s Congress, emphasized the NPC’s important role regarding China’s economic stimulus package. According to Mr. Wu, the NPC will closely supervise the implementation of major stimulus measures. Of China’s RMB 4 trillion stimulus package announced in November last […]
The weak link in global supply chains A report by Reuters (Hong Kong) Analyst Susan Fenton highlights the threat that bankruptcies among China’s small and medium-sized manufacturers pose to global supply chains. Chinese export manufacturers have been hit particularly hard by the global drop in demand, with a large numbers of them facing bankruptcy. A […]
No new stimulus package, but gobs of optimism In his annual speech to China’s National People’s Congress Premier Wen Jiabao said he was confident that China could reach its 8 percent GDP growth target this year. This indicates that China will not announce a new stimulus package beyond the 4 trillion yuan ($585 billion) package […]
Additional stimulus expected in China Chinese Premier Wen Jiabao is expected to announce additional economic stimulus measures at the opening session of the National People’s Congress on Thursday. The new stimulus would add to the 4 trillion Yuan ($585 billion) stimulus package announced in November last year. According to government insiders the new stimulus measures […]
Requests for disclosure of stimulus package Yan Yiming, a Shanghai based lawyer, filed a second request with the National Development and Reform Commission to disclose details of the governments 4 trillion Yuan ($585.5 billion) stimulus package. The request marks an unprecedented test of transparency for the Chinese government’s economic stimulus program. Details as to which […]
Asia’s concerns about the drop in Chinese imports Asian economies are suffering under a sharp drop in Chinese imports as a result of the economic slowdown. Taiwanese and South Korean exports to China fell 50 and 33 percent year-on-year respectively. Most Asian countries became heavily dependent on Chinese imports for their economic growth and a […]
New call for U.S.-China climate change summit Kenneth Lieberthal, a former National Security Council officer on Asia in the Clinton administration urged the leaders in the U.S. and China to focus their cooperation on fighting climate change. Mr. Lieberthal pressed the issue in Beijing at the release of his study on climate change in cooperation […]
New Commerce Secretary with ties to China President Obama’s new nominee for the position of commerce secretary, Gary Locke, could help strengthen economic ties between China and the U.S. Locke, son of Chinese immigrants, has shown extensive commitment to U.S.-China relations during his two terms in office as governor of Washington state. The nomination of […]
Chinese trade delegation to Europe A trade delegation of about 200 Chinese entrepreneurs led by Commerce Minister Chen Deming arrived in Germany yesterday as the first leg of their four country tour. Following Chinese Premier Wen Jiabao’s Europe tour earlier this month the trade delegation will also visit Switzerland, Spain and Britain and is expected […]
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