China and the US on Wednesday began a sixth round of textile talks in Beijing in an attempt to reach a comprehensive agreement to regulate Chinese textile exports which have surged since global quota ended in January, Agence France Presse reported. Since then, Washington has imposed what it calls "cumbersome" quotas on individual categories of […]
Category: Economics & Trade
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PBOC urges domestic consumption
China's central bank said the "best measure" to reduce the country's reliance on exports, close its trade surplus and alleviate currency appreciation pressure is to encourage domestic consumption, state press reported, quoting central bank governor Zhou Xiaochuan. Zhou's comments come ahead of the weekend Group of 20 meeting near Beijing, a gathering of the central […]
China's economic boom is masking balance sheet problems in China's largest companies, The Wall Street Journal reported, citing a report by Citigroup and Moody's Investors Service Inc that compares 686 of China's largest listed companies with nearly 5,000 other publicly traded companies throughout the world. The report found the average big Chinese company is behind […]
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China spacecraft blasts off
China, the third nation to send manned spacecraft in to orbit, launched its second manned spacecraft, the Shenzhou-6, this morning from a remote northwestern launch site for a five-day mission. Calling the mission "glorious and sacred", Chinese Premier Wen Jiabao met briefly with astronauts Fei Julong and Nie Haisheng this morning. The two astronauts will […]
Manulife Financial Corp, Canada's biggest insurer, said its mainland venture received approval to open an office in the city of Shaoxing, making it the biggest foreign insurer in terms of Chinese branches and giving it license to sell life insurance in 11 cities in China, Bloomberg reported. As of August 31, overseas companies had an […]