NMGBMZBWG

Chinas monetary policy gets a scholarly touch

China\'s monetary policy gets a scholarly touch The appointment of three new academic members to the central bank\'s monetary policy committee on Monday reflects the increasing inclusiveness of monetary policymaking, but may not have any apparent bearing on the timing of an interest rate hike, analysts said. The People\'s Bank of China (PBOC) said three Chinese economists - Xia Bin, Li Daokui and Zhou Qiren - will replace Fan Gang, the only academic member of the committee, which advises on...

China seen as a motor of global economy: Soros

China seen as a motor of global economy: Soros George Soros, the world famous investor and currency speculator, said on Wednesday that China has been the first country to recover from the financial crisis and emerged as a motor of the global economy, with its isolation from the global financial system aiding a swift economic recovery. \"For China, the financial crisis was an external shock. It hasn\'t really shaken the (China\'s financial) system itself,\" said Soros in a public discussion...

Chinas CPI to rise 3.2% in 2010

China\'s CPI to rise 3.2% in 2010 Chin\'s CPI will rise 3.2 percent in 2010, Beijing Times reported Tuesday, citing an expert with the State Information Center. This year\'s CPI growth will be mild and will focus on the food and housing sectors. The peak is expected to appear in the June-July period, according to the expert. China\'s economy is forecasted to grow over 11 percent in the first quarter, about 10 percent in the second quarter and below 10 percent in the last two quarters. ...

China should increase social spending: OECD

China should increase social spending: OECD China should further step up social spending to push forward reforms such as health care, welfare and education to sustain its economic growth, the Organization for Economic Co-operation and Development (OECD) said in a report on Tuesday. Although China\'s reforms have increasingly focused on the need for social cohesion in recent years, said the report, more efforts are still needed in various areas to improve people\'s living standards over a longer...

China becomes worlds largest exporter

China becomes world\'s largest exporter The World Trade Organization (WTO) has confirmed that China has edged out Germany to be the world\'s biggest exporter in 2009, accounting for 10 percent of the global export, the Ministry of Finance (MOF) of China announced in its website on Monday. The MOF website also cited WTO figures that China ranked the second place last year in the world¡¯s import by taking up eight percent, only five percent lower than the United States. ...

China economy expected to grow 12% in Q1

China economy expected to grow 12% in Q1 China\'s annual economic growth will reach 12 percent this quarter, a government researcher said in remarks published on Monday, as economists ratchet up growth forecasts following strong industrial output growth last month. Yu Bin, head of macroeconomic research at the State Council Development Research Center, said the Chinese economy would face relatively heavy downward pressure on the pace of growth in the second quarter and thereafter, the official...

China-U.S. trade win-win game

China-U.S. trade win-win game A sound and stable China-U.S. economic and trade relationship is more important than ever and the trade between the two countries is a win-win game, said Chinese Vice Commerce Minister Zhong Shan in an article published on Friday\'s Wall Street Journal. \"China-U.S. trade and economic cooperation has generated huge and real benefits for the United States, while China has been gaining a lot from it as well,\" Zhong stated in the article. In 2009 China jumped to...

Chinas business environment optimistic

China\'s business environment optimistic The majority of foreign-invested enterprises in China are still optimistic about the country\'s business environment, a U.S. business group leader said in Beijing Tuesday. Harley Seyedin, president of the American Chamber of Commerce in South China, told Xinhua in an exclusive interview that most of the foreign enterprises represented by the chamber considered the business environment in the country favorable, and were planning to invest 44 percent more...

Macaos GDP up 1.3% last year

Macao\'s GDP up 1.3% last year Secretary for Economy and Finance Francis Tam Pak Yuen has announced that Macao\'s gross domestic product (GDP) grew 1.3 percent last year from the previous year, the local Macao Post Daily reported on Friday. Tam, who revealed the figure Thursday in a speech addressing an annual Spring Festival meeting of the Macao Chamber of Commerce, described last year as an \"extremely unusual year replete with challenges.\" The 1.3 percent real growth rate is the lowest...

Economy needs to break from its past

Economy needs to break from its past The financial crisis is teaching us that the nation\'s long-held growth patterns could make its financial system very vulnerable. Economic growth that mainly depends on investments and exports could cause insufficient domestic demand, exorbitant savings and investments rates. This in turn will trigger a surplus liquidity, asset bubbles and even inflation. So what tactics should the government adopt to overcome an economic crisis? Generally, fiscal and...