China Economic ReviewChina's foreign trade totaled more than US$1.2 trillion during the first 11 months of 2005, a 23.5% rise over the same period in 2004, the government has announced. According to customs statistics, exports from January through November were US$686.5 billion, while imports amounted to US$595.7 billion, for a total of US$1.28 trillion. The country's trade […]
China's gross domestic product has been understated by as much as US$300 billion, the country's first nationwide economic census has discovered, according to a South China Morning Post report. The sum, equal to nearly 20% of last year's US$1.65 trillion GDP, is said to highlight the serious understatement of data on the nation's expanding services […]
Central bank chief Zhou Xiaochuan poured cold water on speculation that China's bulging trade surplus could trigger a dramatic shift in currency policy, restating that the yuan is likely to keep rising only gradually. The German magazine WirtschaftsWoche reported on December 2 that China was preparing to revalue the yuan by 7.2% against the dollar […]
A four-year slump in mainland stock markets has pushed many Chinese brokerages towards bankruptcy, Reuters reported. "Stock markets are not an engine of growth," said Shan Weijian, a managing partner of Newbridge Capital. "In fact, they are a drag on the economy." Speaking at a Hong Kong conference, Charles Li, chairman and chief executive of […]
At least three villagers have died after police fired on protesters in Dongzhou, Guangdong province, during a confrontation over compensation demands for the loss of land to make way for the construction of a power plant, state media reported. The report said 170 villagers armed with "knives, steel spears, sticks, dynamite powder, bottles filled with […]