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Uncertainties still weigh on Chinas economy

Uncertainties still weigh on China's economy China has vowed to maintain its macroeconomic policy stance in 2010 despite worries that its stimulus is likely to risk fueling new bubbles and overcapacity. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday that the country will continue the proactive fiscal policy and moderately easy monetary policy next year. "It is a must for the country to stick to the pro-growth policy stance," said Zhang...

Higher threshold for senior insurance executives

Higher threshold for senior insurance executives China plans to raise the threshold for directors, supervisors and senior management personnel of insurance companies, according to a new rule draft issued by the China Insurance Regulatory Commission yesterday. Compared with the previous rule, the new rule raises higher requirements for educational levels of senior insurance executives. Executives ranging from headquarter chairperson to assistant general manager of a branch are all required to...

SH sees further recovery in foreign trade

SH sees further recovery in foreign trade China's economic hub Shanghai in December posted the first year-on-year growth in both imports and exports in 14 months, indicating further recovery from the economic downturn, local customs said Sunday. Last month, Shanghai's foreign trade stood at 30.7 billion U.S. dollars, a growth of 35.3 percent over the same month of 2008. This was the second year-on-year growth of foreign trade in two consecutive months in the city, the sources said. Exports...

Chinas economy hits annual target, but concerns linger

China's economy hits annual target, but concerns linger China's economy resumed double-digit growth in the fourth quarter last year, pushing the annual figure beyond the government target of 8 percent. Graphics shows that China's GDP expands 8.7 pct in 2009, according to Ma Jiantang, director of the National Bureau of Statistics (NBS), on a press conference on Jan. 21, 2010. (Xinhua/Zhang Liyun) But economists warned rising fears of inflation and the risk of market bubbles posed a...

Beijings per capita GDP exceeds $10,000

Beijing's per capita GDP exceeds $10,000 Beijing's per capita gross domestic product exceeded 10,000 U.S. dollars for the first time last year after a strong economic recovery, a local statistics official said Thursday. The GDP in the Chinese capital grew 10.1 percent to 1.187 trillion yuan (137.8 billion U.S. dollars) in 2009, according to the Beijing Bureau of Statistics. The per capita GDP was 68,788 yuan (10,070 U.S. dollars) as the city had 17.55 million permanent residents at the end of...

Experts call for revisions of rising CPI

Experts call for revisions of rising CPI A saleswoman adjusts price tags at a local supermarket in Guangzhou, capital of south China's Guangdong Province, Jan. 21, 2010. According to National Bureau of Statistics, China's consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year on year in December last year, and fell 0.7 percent for the full year in 2009. (Xinhua/Chen Yehua) Liu Qi, an advertising firm employee in Beijing for eight years, Thursday spent 80 yuan (11.7...

Chinas urban, rural income gap widens

China's urban, rural income gap widens Graphics shows that China's urban and rural residents' income increased steadily in 2009, according to Ma Jiantang, director of the National Bureau of Statistics (NBS), on a press conference on Jan. 21, 2010. (Xinhua/Zhang Liyun) Signs of expansion of the income gap between China's urban and rural residents emerged Thursday amid the official data showing otherwise strong economic growth. The per-capita disposable income of urban people was 17,175 yuan...

China to improve GDP calculation methods

China to improve GDP calculation methods Local officials often inflate figures, causing unreliable data China could wave goodbye to its GDP data discord as the national statistics bureau chief claims that he will unify provincial and central GDP calculation methods and improve grassroots statistical quality this year. Ma Jiantang, head of the National Bureau of Statistics (NBS), has criticized some local officials who inflate the GDP figures they report to the NBS. The problem has affected the...

Chinas consumer inflation up 1.9% in Dec

China's consumer inflation up 1.9% in Dec China's consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year-on-year in December last year, the National Bureau of Statistics (NBS) announced Thursday. It is the second straight monthly growth after the index ended nine months of decline in November. The full year inflation was down 0.7 percent, NBS said. ...

China faces arduous task of macro control

China faces arduous task of macro control China is facing more "arduous" task of maintaining sound and relatively fast economic growth in 2010 as macro-control would be more complicated amid rising inflation fears, the central bank said on Friday. "China faces daunting task of keeping stable prices, improving credit structure, preventing systematic financial risks and maintaining international balance of payment," the People's Bank of China (PBOC) said in a quarterly economic review posted on...