Arriving in Beijing to lay the plans for the first Sino-Russian joint military exercise, Russian Chief of General Staff Yury Baluyevsky said one of Russia's top priorities is to develop a strategic partnership with China, including closer military ties, state media reported. The military exercises are expected to be held in the second half of […]
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US resolution "unreasonable"
The US House of Representatives approved a resolution expressing its "grave concern" over China's anti-secession law passed by the National People's Congress in mid-March. The action drew China's immediate condemnation, a foreign ministry spokesman calling the resolution "unreasonable" and "a rude interference in Chinese internal affairs".
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IBM China unveils plans
IBM China Chairman and CEO Henry Chow said his company aims to replicate its US parent and restructure operations to provide vertical solutions by industry. He also said the company will open more offices in China this year, following its latest branch opening in Hangzhou.
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China tightens property loans
China's central bank is requiring banks to charge higher mortgage rates and take higher down payments in an effort to rein in China's runaway real estate market. The central bank said commercial banks should raise property down payments from 20% to 30% in cities where lenders believe property prices have been rising "too fast". Commercial […]
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Guangdong-EU trade on the rise
Among Guangdong province's trading partners, exports for the first two months of the year to the European Union registered the biggest gains, rising 29% from a year ago to about US$4.49bn. Guandong's year-to-date exports to its top two trading partners, Hong Kong and the US, grew 18.1% to US$8.93 bn and 20.1% to US$6.36bn, respectively.