China sees import expansion as long-term strategy

BEIJING – Increasing imports is not a temporary measure for China, but a long-term macro-economic strategy, Yao Jian, spokesman for the Ministry of Commerce, said on Wednesday.  Yao stressed the importance of import expansion in…

China tightens regulation of rare earth industry

“Messy” is a term often used to describe China’s rare earth mining industry. It has earned this distinction because of the severe environmental degradation, illegal mining practices and smuggling that have become endemic to the…

China’s CPI up 5.5% in May

  China’s consumer price index (CPI), the main gauge of inflation, rose 5.5 percent year-on-year in May, the National Bureau of Statistics said on Tuesday. CPI rose 5.2 percent year-on-year in the first five months…

Hitting the big time soon

PPP comparisons can be misleading, but China’s economy will surpass the US’ by 2021 even in nominal terms Is China poised to surpass the United States as the world’s largest economy? The International Monetary Fund…

High-speed rail might hurt airline business

The new Beijing-Shanghai high-speed trains might lead to a 20 percent to 30 percent reduction in airline passengers on that route, China Business News (CBN) reported Monday, citing an aviation industry insider.  “When the Beijing-Shanghai…

Some families refuse melamine money

BEIJING – By the end of last year, the families of 272,000 victims of melamine-tainted milk and dairy products had signed up for one-time compensation payments, said a compensation fund manager.  At least six babies…

NDRC tackles power shortage

The country is to accelerate the development of thermal power and power grid projects in order to tackle the worst power shortage in years, said Liu Tienan, an official with the National Development and Reform Commission…

Russian expert hails SCO’s first 10 years

MOSCOW, June 10 (Xinhua) — The Shanghai Cooperation Organization (SCO), which celebrates its 10th anniversary this year, is still “young” but has remarkable achievements, according to a Russian expert. On the eve of the SCO…

Failed IPO shows China markets maturing

The first cancelled initial public offering in the short history of China’s stock markets is being seen as a sign of maturation. But mainland markets remain closer to adolescence than adulthood and their growing pains…