Chinese agency downgrades US credit rating

BEIJING – Chinese rating agency Dagong Global Credit Rating Co. said Wednesday it has cut the credit rating of the United States from A+ to A with a negative outlook after the US federal government…

China plans to launch escalator recall system

BEIJING – China is considering launching an escalator and elevator recall system after a 13-year-old boy died July 5 due to an escalator malfunctioning, the Beijing News reported Wednesday. The country plans to enshrine the…

Uranium imports in marked decline

Beijing – Imports of uranium slowed during the first half of this year, amid industry uncertainty caused by Japan’s Fukushima nuclear crisis. China imported 5,356 tons of uranium in the first six months of 2011,…

US debt woes stoke concerns in China

BEIJING – China is considering launching an escalator and elevator recall system after a 13-year-old boy died July 5 due to an escalator malfunctioning, the Beijing News reported Wednesday. The country plans to enshrine the…

Japan wary over PLA’s modernization

BEIJING – Japan expressed concern on Tuesday over the Chinese military’s recent maritime activities in its annual defense report, a week after Beijing officially announced its aircraft carrier program. “Given the modernization of China’s naval…

China to continue diversifying forex investments

BEIJING – China will continue to diversify its foreign currency investments and strengthen risk management to minimize the impact of the global financial market’s fluctuations on China, according to a statement on the website of…