Category: Economics & Trade

The United States government will release US$100 million in embargoed Chinese garments for Christmas sales, the South China Morning Post reported. It will also not impose additional safeguard quotas on 24 categories of Chinese textiles not covered in the Sino-US treaty of November 8, despite pressure from domestic producers. The decision is thought to be […]

China signed an agreement with the US to install detectors at its ports in an attempt to preempt the smuggling of nuclear materials, Bloomberg reported, citing the National Nuclear Security Administration in Washington. The agreement was signed during US President George W Bush's visit to Beijing and comes as the Bush administration is pressuring North […]

Beijing is setting lower growth targets over the next five years to help achieve a more sustainable economy, said Xu Lin, deputy director of the National Development and Reform Commission's planning department, as reported in the South China Morning Post. He said the aim was for a 7.5% GDP increase each year from 2006-2010. But […]

The International Monetary Fund has demanded that China allow the yuan to face market forces, calling the currency's movement since the July 21 revaluation "very limited", Reuters reported. "Greater exchange rate flexibility would contribute to rebalancing the composition of economic growth by reducing distortionary influence in investment decisions and potentially raising consumption by boosting household […]

In a bid to become a major insurer, PICC Holding Co on Friday launched PICC Life Insurance Company, its joint venture with three foreign investors, state media reported. The foreign investors are Japan's Sumitomo Life Insurance Company with a 29% stake and Asia Financial Holdings and Bangkok Bank, each with a 10% stake. PICC Life […]