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Central bank: Rate of inflation still low

Central bank: Rate of inflation \'still low\' Central bank signal comes amid division over interest rate hikes Central bank governor Zhou Xiaochuan said Tuesday China\'s inflation rate remains \"relatively low\", amid ongoing debate among officials and economists on when policymakers should raise interest rates to rein in rising inflation and asset prices. The inflation rate still needs to be \"closely watched\", Zhou told reporters in Sydney after a meeting with other central...

China, Vietnam to set up new trade zone

China, Vietnam to set up new trade zone South China\'s Guangxi Zhuang autonomous region and Vietnam have approved a framework agreement to establish a new cross-border economic zone in the latest effort to further boost economic and trade cooperation between China and its Southeast Asian neighbor. It is part of broad efforts to further enhance bilateral economic ties between China, the world\'s third-largest economy - one of the fastest-growing economies in the world - and the Association of...

New free trade zone to benefit China

New free trade zone to benefit China China\'s top brands could be on the road to becoming global household names after the launch of the 4.5 trillion U.S. dollars China-ASEAN Free Trade Area (CAFTA) market, the world\'s largest free trade zone, according to trade experts. Bruneian dancers perform at a China-ASEAN expo in Nanning, Guangxi, in November 2008. (Photo Source: Chinadaily.com) Despite the country being an economic powerhouse, few of its big companies have ever made a major impact on...

China considers social security tax

China considers social security tax China\'s Ministry of Finance is considering levying a social security tax in an effort to narrow the wide gap in income distribution, said a report in Friday\'s 21st Century Business Herald, citing Finance Minister Xie Xuren. Xie said in his article published in Thursday\'s Qiu Shi (Seeking Truth), an official magazine of the Communist Party of China Central Committee, this year will witness personal income tax reform, and taxes will be better applied as a...

Double-digital GDP growth forecasted this year

Double-digital GDP growth forecasted this year A top Chinese think tank forecasted the nation\'s economy would experience a mild rebound this year, with gross domestic product expanding around 10 percent year on year. Among the three economic engines, investment is expected to contribute 6.3 percentage points to the GDP growth, while consumption and net export will contribute 4.2 and 0.5 percentage points, respectively, the Center for Forecasting Science of the Chinese Academy of Sciences said...

Faster economic adjustment brooks no delay: Hu

Faster economic adjustment \'brooks no delay\': Hu Chinese president Hu Jintao Wednesday called for the whole nation\'s efforts to accelerate the adjustment of economic development pattern to promote sound and fast economic and social development. \"The transformation of economic development mode brooks no delay based on a comprehensive judgment on international and domestic economic situation,\" Hu said at an opening ceremony of a seminar attended by provincial and ministerial-level...

Mills press for China price in 2010 iron ore talks

Mills press for \'China price\' in 2010 iron ore talks Chinese mills are trying to keep iron ore prices rising less than 30 percent in this year\'s industry talks with the big three global miners, the New Express Daily reported today. It was reported that delegations from Baosteel, Wuhan Iron and Steel and others are already in Singapore to hold discussions with BHP Billiton and Rio Tinto of Australia and Brazil\'s Vale. Baosteel, China\'s largest steel maker, was designated at the end of last...

China reaffirms openness to foreign investment

China reaffirms openness to foreign investment A Chinese Foreign Ministry spokesman Thursday said the government would as always welcome foreign investment and that it would maintain the mutually beneficial strategy of opening-up. Responding to questions at a regular press conference on doubts some foreign enterprises have about China\'s investment environment, Qin Gang said he did \"not agree with such opinions.\" \"China will continue to welcome foreign enterprise investment and create an...

PMI of manufacturing sector up in March

PMI of manufacturing sector up in March The Purchasing Managers\' Index (PMI) for China\'s manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from last month, the China Federation of Logistics and Purchasing (CFLP) said Thursday. It was the 13th straight month that the index was above 50 percent. The PMI includes a package of indices to measure manufacturing sector performance. A reading above 50 percent indicates economic expansion, while that below 50 percent...

Chinas trade winds blowing strong

China\'s trade winds blowing strong   An employee checking containers for shipment at Yangluo Port in Wuhan, Hubei province. [Nan Fei / for China Daily] China\'s full-year trade balance will still be in surplus and there is nothing to be alarmed about the figures turning into a deficit in March, economists said on Wednesday. The nation in 2009 surpassed Germany as the second largest importer in the world after the United States, according to a recent report from the World Trade...