China Economic ReviewChina's top foreign exchange regulator told the Financial Times that China aims to diversify its foreign exchange reserves out of US dollars. Guo Shuqing, head of the State Administration of Foreign Exchange, said that China's US$440 billion in foreign exchange reserves will be altered to increase its holdings in European and Asian bonds. Guo said […]
Chinese Premier Wen Jiabao told European Commission President Romano Prodi that it was an economic mistake to link China's progress regarding human rights to trade. Wen made the comment in Brussels, Belgium as he urged the EU to lift its ban on arms sales to China, which were passed in the wake of the Tiananmen […]
Close to 75% of mainland theme parks are losing money and only 10% are making a profit despite recent investment inflows of over US$18 billion, according to Chinese media reports. The losses were reported to be results of poor management, fierce competition, lack of innovation and reliance on ticket sales as a primary revenue source. […]
EU officials announced that China will export 1.5 to 2 million tons of extra coke, which is used in steel production, in 2004 in response to EU complaints that the drop in coke supply would harm its steel industry. China exported 14.7 million tons of coke in 2003, which accounted for half of global coke […]
As many as 490 million Chinese people were affected by natural disasters during 2003, including 2,259 who were killed and 7 million who were displaced, according to data released by the China National Bureau of Statistics. Natural calamities including floods, earthquakes and droughts also caused financial losses of US$22.7 million in 2003 according to the […]