Prices of domestic automobile prices will continue to decline in 2005 as supply continues to exceed demand, state media reported, citing a government report. Despite this trend and the rising price of steel, both auto production and sales will grow about 15% in 2005, the report said. Automobile supply is forecasted to exceed demand by […]
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China's beer output rise 15%
China's beer production rose 15.2% between 2003 and 2004 to 29.1 million metric tons, maintaining its status as the world's top beer producer, state media reported. While China has 400 breweries, ten of them produced more than half of the total volume last year, according to an industry association. Average per person consumption of beer […]
In his first visit to China since becoming the European Union Trade Commissioner, Peter Mandelson called for China to adopt a responsible approach to global trade, urging the Chinese not to dump cheap textiles in the world market when the textile quota regime ends January 2005. China owned 28% of the worldwide textile market in […]
Beijing unveiled a new policy that opens various state-controlled industries to private investors, state media reported. In efforts to further develop China's markets, the government is hammering away the details that will allow private investors access to industries like national defense, aviation and energy. The private sector now accounts for one-third of China's economy, whose […]
China is targeting an 8% GDP growth this year, down from 2003's 9.5%, China's central bank said in its fourth-quarter monetary report, signaling it would continue its measures aimed at cooling the economy. The bank says it expects China's fixed-asset investment growth to rebound and inflation to accelerate due to raw material cost increases. The […]