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Chinas industrial profit more than doubled Jan-Feb

China\'s industrial profit more than doubled Jan-Feb Profits in China\'s major industrial enterprises more than doubled in the first two months this year compared with a year earlier, the National Bureau of Statistics said Friday. ...

China to further support private investment

China to further support private investment China\'s State Council, the Cabinet, said Wednesday the country would step up efforts to encourage investment from the private sector. The government would encourage private investment in sectors currently mainly state controlled such as infrastructure for transport, telecommunications and energy, public utility, scientistic and technological programs for national defense, and the building of affordable housing, according to a statement released after...

China to crack down on illegal foreign money

China to crack down on illegal foreign money The State Administration of Foreign Exchange (SAFE) will conduct a special investigation in 13 provinces and municipalities during the first half of this year to examine whether international \"hot money\" was flowing into China under the cover of trade, foreign direct investment (FDI) and foreign debt, the Shanghai Securities Journal reported Tuesday. China faces an increasing risk of net inflow of foreign exchange in the backdrop of a more complex...

Chinese Premier vows to continue financial reform

Chinese Premier vows to continue financial reform Chinese Premier Wen Jiabao pledged in Beijing on Monday to continue reform of the country\'s financial system and develop the capital market. \"China\'s financial system is generally sound. It was not greatly affected by the financial crisis and indeed helped the Chinese economy to cope with it,\" Wen told some 60 foreign delegates attending the two-day China Development Forum 2010 in the Great Hall of the People in downtown...

Wen: trade and currency wars harmful

Wen: trade and currency wars harmful Chinese Premier Wen Jiabao on Monday urged all countries and companies not to start trade and currency wars, which would be harmful to the recovery of world economy. \"We are happy that the world economy shows good signs of recovery, however, some factors make us feel that the recovery will not be so smooth,\" Wen told some 60 delegates at the two-day China Development Forum 2010. He mentioned some of the factors, such as the high unemployment in some big...

China manufacturing grows for ninth month

China manufacturing grows for ninth month China\'s manufacturing sector continued to grow for the ninth straight month in November, according to a survey by the China Federation of Logistics and Purchasing (CFLP) on Tuesday. The Purchasing Managers\' Index (PMI) of China\'s manufacturing sector stood at 55.2 percent in November, unchanged from the previous month, the CFLP said. It was the ninth straight month that the PMI reading stayed above 50. A reading of above 50 suggests expansion,...

Economy gathers more steam

Economy gathers more steam Workers in an iron and steel plant in Nanjing, Jiangsu province. The latest official procurement purchasing managers index indicates new orders and output components slipped while new export orders and import components picked up. An Xin Nation reports robust January PMI despite inflationary pressures China\'s official procurement purchasing managers index (PMI) for January showed expansionary manufacturing momentum yesterday indicating a further pick up in economic...

China still sober despite economic rise

China still sober despite economic rise Though China is very likely to replace Japan as the second largest economic powerhouse this year after the Unites States, the country\'s economy cannot rival Japan\'s in per capita GDP (gross domestic product), a fact that the Chinese should be soberly aware of. And the economic status that China will likely attain is expected to influence the political landscape in East Asia and the world. Due to its 8.7-percent economic growth last year amid the global...

Chinese provincial govts lower GDP targets

Chinese provincial govts lower GDP targets Chinese provinces are scaling back economic growth targets for 2010 as the nation works to make its economic development more environmentally friendly. At its annual legislative meeting, southern China\'s Guangdong province set a growth target of 9 percent, lower than its estimated 9.5 percent expansion in 2009. The eastern province of Jiangsu earlier set a goal of 10 percent growth, down from the estimated 12.4 percent growth of last year. Neighboring...

Chinese economic policies draw Western attention: HSBC

Chinese economic policies draw Western attention: HSBC China is now a big economy whose economic policies will draw Western attention instead of being just Asia\'s local operation, said Stephen King, chief economist of the Hong Kong-based HSBC bank. China has become a source of growth in the global economy, and Western economies are quite concerned, especially after the economic crisis, about whether the Chinese central bank will tighten monetary policies, King told Xinhua on the sidelines of...