China Economic ReviewThe hardline US Senate bill threatening China with an 27.5% all-import tariff unless the renminbi is revalued, has been delayed until no later than March 31, Reuters reported. Senator Charles Schumer, the bill's chief sponsor, said the Senate would not move on the legislation during President George W Bush's visit to China in hopes that […]
Venezuela's state oil company, Petroleos de Venezuela, has signed a one-year contract with China National Petroleum Corp to supply 100,000 barrels of crude and 60,000 barrels of fuel oil a day, AP reported. In 2005, Venezuela sold 70,000 barrels a day of mostly fuel oil to China, five times what it sold in 2004. Venezuela, […]
China's industrial output increased 16.3% in the first 10 months of this year, despite economists' warnings about an oversupply. Ma Liqiang, director of the Economic Operating Bureau under the National Development and Reform Commission, told China Securities Journal. He also said factory production increased to US$704 billion year on year, slightly lower than last year's […]
Foreign direct investment to China reached US$48.4 billion in the first 10 months, down 2.1% from a year earlier, but contracted foreign direct investment money pledged but not yet used was up 22.5% in the same period, reaching US$145.08 billion, the Ministry of Commerce announced. Meanwhile, the National Bureau of Statistics reported that retail sales […]
China should close the income gap between rural and urban populations and improve the environment in agriculture, said the Organisation for Economic Cooperation and Development. According to the National Bureau of Statistics, China's richest 10% control 45% of the country's wealth while its poorest 10% controls 1.4%. The OECD also wants an upgrade in healthcare […]