Utilised foreign direct investment in China during the first two months of this year totalled US$5.87bn, 28.4 per cent higher than in the same period last year, according to the Ministry of Foreign Trade and Economic Cooperation. Contracted foreign direct investment during the period rose 24.4 per cent year-on-year to reach US$11.45bn.
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Consumer prices were unchanged in February from a year earlier, ending a three-month decline as demand for food increased over the Spring Festival holiday, Bloomberg reported. Food prices rose by an average of 0.6 per cent, offsetting price drops of 2.1 per cent in clothing, 4.9 per cent in vehicles and 16.5 per cent in […]
New official figures indicate that China’s oil consumption may have declined in 2001. If accurate, these reports suggest that last year’s official estimate of 7.3 per cent GDP growth could be exaggerated by a wider margin than previously thought. Alternatively, they may reflect a rapid recovery in unofficial oil imports, which were sharply curtailed after […]
The president of Bank of China revealed that officials from the Kaiping branch had stolen US$483m from the bank. Liu Mingkang said that the officials had fled overseas shortly after the arrival of an audit team in the Guangdong city. Some of the money, which was stolen over a period of seven years, has been […]
China has filed its first complaint to the World Trade Organisation since it joined the body last December. It has protested against the decision of the US to impose tariffs of up to 30 per cent on steel imports, saying that the move violates fair trade practices. China is the world’s largest steel producer, although […]