With shipbuilding now accounting for 25% of its US$12bn loan book, the Export-Import Bank of China said it would increase loans to buyers of China-made ships by another US$2bn. ExIm bank Deputy General Manager Benjamin Bao Jianmin did not say when the new target would be met but said the bank would be issuing more […]
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Central bank Deputy Governor Li Ruogu told the Financial Times the US trade deficit was unsustainable and suggested Americans focus on aerospace and other sectors in which they excel so China "would spend billions." Li said if the US pursued that course, "we could easily balance the trade." He said the days of Americans making […]
Sony Pictures Entertainment was reported set to announce it had secured the go-ahead from the State Administration of Radio, Film and Television (SARFT) and the Ministry of Commerce to begin China's first fully licensed Sino-foreign TV production joint venture with China Film Group. Under new rules announced earlier this week foreign investors can own up […]
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Hebei mine death toll hits 61
Rescuers said the death toll in last weekend's blaze at a complex of iron mines in Hebei province had reached 61, with four miners still unaccounted for. The fire at the privately-owned mining operation in the city of Shahe was thought to have been caused by an electrical fault. A city official told state media […]
Continuing his state visit to Cuba, President Hu Jintao signed a deal to invest US$500m in Cuba's nickel industry. The agreement was part of a raft of 16 trade and investment deals overseen by Hu on a visit designed to boost business links between the two countries. Nickel, used to make stainless steel, is one […]