China, which recently resolved a textile dispute with the European Union, may face new frictions because it has nearly filled the quotas on a number of garment categories the Wall Street Journal reported. It said European retailers and manufacturers are worried that shipments may not be delivered and their stores will be empty. In June, […]
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Producers face tough new license regs
China will impose a strict mainland-wide licensing system for the production of staple foods and common appliances in an effort to shore up consumer confidence after a raft of reports on defective substandard products, state media reported, citing a regulation by the State Council. The new licensing system will take effect in early September and […]
China gave a rare early warning diplomatic and economic signal to US Treasury Secretary John Snow of when and how it would scrap the decade-old peg of the renminbi to the dollar, the Financial Times reported, quoting sources close to the yuan controversy. Last week Snow was quietly given the details by the usually secretive […]
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China raises oil price
For the second time this year, the price of gasoline in China rose by US$37 per ton, state media reported, citing officials from the State Development and Reform Commission who said the price hikes were necessary "in order to guarantee the supply of domestic oil and improve energy efficiency". Retail prices were expected to rise […]
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Spanish PM ends visit
Spain's Prime Minister Jose Luis Rodriguez Zapatero wrapped up his three-day tour of China, during which time he held discussions with China's top leaders including President Hu Jintao and Premier Wen Jiabao, state media reported. Both sides committed to foster more ties in all areas, and Zapatero and Wen oversaw the signing of a dozen […]