China Economic ReviewAt least 810,000 residents have been forced to flee their homes in Zhejiang after Typhoon Khanum wreaked havoc on a stretch of China's Eastern seaboard 290 kilometers east of Shanghai, Reuters reported. The city of Taizhou was worst hit by the storm, with at least 30,000 people evacuated. China Eastern Airlines suspended 116 flights and […]
After its failed US$5 billion bid for Canada's zinc behemoth Noranda, state-owned China Minmetals proposed a JV with the world's largest iron ore producer CVRD based in Brazil in a bid to secure easy access to metals from overseas, the Financial Times reported. CVRD already has plans to build a US$1 billion steel plant in […]
Vice-Premier Zeng Peiyan predicted China's economy would grow by 9% in 2005, one percentage point higher than President Hu Jintao's prediction last March but half a point lower than growth in the first half of 2005, South China Morning Post reported. The Asian Development Bank also raised its growth projections from 8.5% to 9.2%, although […]
Commercial banks in China want Beijing to slow the yuan's rise and to keep interest rates low in order to prevent speculative buying of the currency, South China Morning Post reported, citing a central bank survey published Thursday. The yuan was revalued in July by 2.1% to 8.11 to the dollar and has since risen […]
Zhongtiaoshan Nonferrous Metals Group plans to increase its copper capacity six-fold by 2007, Hong Kong's Standard reported. The company, considering a 2006 IPO, is building a 100,000-tonne refinery in Shanxi to increase full capacity to 120,000 tonnes of refined copper annually. Copper prices have been at an all-time high in recent months and China consumes […]