Hong Kong Chief Executive Tung Chee-hwa reportedly told members of his cabinet he had decided to resign and talked about quitting with central government leaders in Beijing, the South China Morning Post reported, citing an unnamed cabinet source. Chief Secretary Donald Tsang Yam-kuen, the CE's designated stand-in according to Hong Kong's Basic Law, will reportedly […]
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Worldwide economic growth is being disproportionately driven by the US and China, while the EU and Japan have not lived up to expectations, the Handelsblatt newspaper reported, citing a report to be published by the IMF in April. The over-reliance on the US and China could spell trouble later if these economies slow down, IMF […]
While it has committed to creating 9m urban jobs, the central government expects urban unemployment rate to climb to 4.6%, compared to last year's 4.2%, state media reported, citing a report on China's development plan. China expects 11m of its 13m unemployed urban residents to seek jobs this year.
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China's economy to slow in 2005
China aims to grow its economy 8% this year, down from 9.5% in 2004, Premier Wen Jiabao said, despite doubts that this target can be met given the strong investment demand. Analysts say trillions of yuan of investment projects already under way or in the pipeline and the liquidity in the banking sector will continue […]
China Mobile Communications Corp, China's leading mobile operator, is on the shortlist of bidders for Pakistan Telecom, inching closer to realize its bid for global expansion, the Financial Times reported. The winning bidder will take a 26% stake worth about US$1.6bn plus management control rights in Pakistan's no. 1 state-owned fixed-line and mobile operator. China […]