China received total foreign direct investment (FDI) of US$53 billion in 2003, effectively making it the world's leading recipient of FDI, according to the Organization of Economic Cooperation and Development (OECD). Luxembourg received US$72 billion in FDI in 2003, but the OECD believed it was mainly funds passing through holding companies based there. The US […]
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Prices shot through the ceiling as the first eight stocks debuted on Day 1 of trading on Shenzhen's SME board, adrenalin pumping up one stock, Han's Laser Technology, 324.8%. Second board turnover on the first day climbed to RMB 3.5 billion, more than a quarter of the daily turnover generated by China's two established boards, […]
A European Union assessment of China's economy obtained by the Financial Times indicated the EU will refuse to recognize China as a market economy for the time being. The EU investigation reportedly found China suffering from state interference, weak rule of law and corporate governance. Premier Wen Jiabao and other Chinese leaders have lobbied hard […]
China is determined to keep developing the country's markets system, and make the RMB convertible when the time was right, Vice-Premier Wu Yi told delegates at the Pacific Basin Economic Council meeting in Beijing. Wu said the current foreign exchange rate system was consistent with China's level of economic development and said it was conducive […]
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Citic in Wuxi steel venture
Citic Pacific announced it has formed a US$29.8 million steel joint venture with Jiangyin Steel Mill in Wuxi. Citic will take an 80% stake, Jiangyin Steel 20%