China Economic ReviewUS Trade Representative Robert Zoellick warned China that the US may erect trade barriers against Chinese products unless the Chinese market is opened to more exports from the US. Zoellick's comments came during a hearing by the Senate Finance Committee regarding the Bush administration's trade policy. China and India have been fingered by US politicians […]
The State Council member Ma Kai told the National People's Congress that a minimum economic growth rate of 7% was necessary in order to keep the official urban registered jobless rate under 5%. The official jobless rate is around 4.7%. Ma repeated a government pledge to restrict reckless lending and investment in overheated sectors including […]
US investment bank Merrill Lynch said that China will revalue the renminbi by 10% against the US dollar near the end of 2004 and shift to a peg against a basket of three currencies. Merrill Lynch said that the revaluation would not be a result of US political pressure, but rather from China seeking to […]
China said it plans to overhaul its export promotion strategy in response to falling export prices and increasing numbers of international trade disputes. Before its WTO entry in 2001, China employed a system of simple export subsidies and tax rebates. Since WTO entry, subsidies have been stopped and tax rebates are being decreased. The new […]
Mainland trade with Taiwan in 2003 surpassed that of both the US and Japan, according to Taiwan officials, making mainland China Taiwan's biggest trading partner. Mainland-Taiwan trade, which has been indirect since 1949, reached US$46.32 billion in 2003, a year-on-year rise of 23.8%. Shipments from the mainland to Taiwan rose 37.9% over the previous year […]