The Guangdong Planning Commission approved China's first offshore wind power plant project, to be located in Nan�ao county, Guangdong province. The plant will have a total investment of US$29.2 million by German company InfraVest. The plant on Nan�ao, Guangdong's sole sea island, will have an installed generating capacity of 20MW. The plant is scheduled to […]
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Unemployment holds at 4.3%
China's official urban unemployment rate held steady at its 23-year high of 4.3% in the first quarter of 2004. The rate excludes downsized workers on company benefit schemes and jobless migrants living in cities. An official at the labor ministry's employment and training department said that, had the laid-off workers currently receiving stipends from their […]
The People's Bank of China (PBOC), China's central bank, plans to remove the ceiling on interest rates for loans, according to state media reports. A PBOC official in charge of monetary policy told China Securities Journal that abolishing the ceiling on loan interest rates would work to curb investment in overheated sectors with excessive loan […]
CORRECTION: In the April 22 China Economic Review news briefs, words by US Assistant Secretary of State James Kelly were taken out of context. Kelly said: �"At the same time we have very real concerns that our efforts at deterring Chinese coercion might fail if Beijing ever becomes convinced Taiwan is embarked on a course […]
Chinese agricultural group Xuzhou VV Group signed a US$4.76 million contract with Australian agricultural group Elders that will send 3,000 dairy cattle to China this year. The deal is the third between the two firms. Elders sold 2,500 cattle to Xuzhou VV in 2003 and an additional 3,000 head in March 2004. Elders� mainland subsidiary, […]