WASHINGTON – The International Monetary Fund (IMF) announced Tuesday that its Managing Director Christine Lagarde has proposed the appointment of Zhu Min, currently Special Advisor to the Managing Director, to the position of IMF’s Deputy…
Category: Economy
Economic superlatives abound about China. It’s the world’s biggest auto market. It’s the largest producer of steel and, of course, the largest exporter. Yet there has been nothing extraordinary lately about the performance of China-focused mutual funds….
China’s Sichuan Hanlong Group Co., Ltd recently made a “highly conditional” bid of A$144 million ($154.9 million) for Australia’s Bannerman Resources Ltd, aiming to purchase its uranium project in Namibia, according to a report from…
BEIJING – Strengthened regulation by Chinese and US policymakers may reduce the number of Chinese companies listed in the United States, but it will boost investor confidence, said experts. As accounting scandals at overseas-listed Chinese…
A Shanghai-based furniture company is under investigation after it was revealed that its products said to be imported from Italy were made in China, The Beijing News reported Monday. DaVinci Furniture Ltd, famous for its…
China’s real income tax threshold will be 4,545 yuan after the personal income tax law amendment, People’s Daily reported on Tuesday, citing Liu Zuo, head of the research center at the State Administration of Taxation….
China’s foreign reserves have soared to nearly $3.2 trillion as Beijing intervened in currency markets to control its yuan despite pledges to allow more flexibility. The reserves rise as Beijing buys foreign currency to counter upward pressure on the…
BEIJING – China will continue to phase out unneeded industrial capacity this year, with 2,255 enterprises closing facilities, while the government fights the worst power shortage in years, a statement on the Ministry of Industry…
Consumer price stability top priority for government, Premier says BEIJING – Premier Wen Jiabao told government departments to take immediate measures to support pork production and increase supplies to prevent a surge in the price…
The latest readings on Chinese inflation and renewed worries about European debt pushed oil lower. Benchmark West Texas Intermediate crude fell $1.05 to $95.15 per barrel yesterday on the New York Mercantile Exchange. Brent crude…