China's April trade surplus of US$10.46 billion was down from the US$11.2 billion surplus in March, but still exceeded the US$7.2 billion expected as economic growth shows no signs of slowing in the face of continued fixed-asset investment and easy credit. In April imports rose 15.3% from a year earlier to US$66.49 billion, while exports […]
Category: Economics & Trade
The US Treasury did not brand China a "currency manipulator" in its latest report. For now, the American government will hold off on its campaign to revalue the yuan. But expect the issue to rear its ugly head again as the weather and the congressional campaigns turn hot this summer.
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Wage hike in Pearl River Delta
Major export centers of the Pearl River Delta will raise the minimum wage by between 17% and 42% from July 1, state media reported Wednesday, citing a recent meeting of labor officials in Shenzhen. The provincial government is targeting a wage rise of 23% to US$106.20 per month in Shenzhen and a 17% increase in […]
The World Bank revised its 2006 forecasts of China's economic growth to 9.5% from a previous estimate of 9.2% in its latest quarterly economic update released Wednesday. The bank said its forecast still implied a slowdown in the rest of the year and into 2007, and expected the recent "moderate" tightening of lending to cool […]
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Green GDP index axed
The government has scrapped its plan to estimate a "green measure" of gross domestic product amid escalating concern about the toll economic growth has taken on the environment, reported the Financial Times. "It is virtually impossible to calculate accurately a figure for GDP adjusted for the impact on the environment," said an official from the […]