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World Economy

Obama sets goal to reduce oil imports by one third by 2025: U.S. President Barack Obama delivers a speech at Georgetown University in Washington D.C., capital of the United States, March 30, 2011. Obama on Wednesday called for the country to reduce its oil imports by one third by 2025 to secure its energy supply in the future.

Ministers focus on divergent growth prospects: Canada's finance minister Jim Flaherty (2nd L) hosts the fourth meeting of the Finance Ministers of the America and the Caribbean, in Calgary, Canada, March 26, 2011. The fourth meeting of the Finance Ministers of the America and the Caribbean concluded in Calgary Saturday with the talks centering on rising food and commodity prices, growing and potentially volatile capital flows, their related impact on currencies and the longer-term issues associated with an uneven global recovery.

World Finance

EU leaders meet amid Portuguese political crisis, protests: EU leaders pose for a family photo during the first day meeting of EU Summit in Brussels, capital of Belgium, on March 24, 2011. European union (EU) leaders began their two-day summit on Thursday amid a political crisis in Portugal and protests by trade union s against austerity measures taken by eurozone member states to struggle out of the debt crisis.

IMF draws lessons from financial crisis: WASHINGTON, July 20 (Xinhua) -- Almost three years since the onset of the global financial crisis, the International Monetary Fund (IMF) gives its answer to what lessons central banks can draw from this catastrophe that has dragged many major economies into the worst recession in decades.

Top Biz News

Premier Wen boards bullet train as Beijing-Shanghai high-speed rail starts operation: Premier Wen boards bullet train as Beijing-Shanghai high-speed rail starts operation

CHINA ECONOMY

China's commerce minister pledges to promote economic ties with Germany

CHINA FINANCE

Chinese vice president calls for strengthening Party building: Chinese Vice President Xi Jinping has called for the strengthening and improvement of the Party building to set a solid foundation for the beginning of the next five-year period.

Video on Economy

U.S. senate delegation visits China to boost bilateral trade

U.S. senate delegation visits China to boost bilateral trade

World finance leaders warn of uncertainty

World finance leaders warn of uncertainty

Regional Economy

British PM meets with visiting Israeli president: Britain's Prime Minister David Cameron (R), speaks with Israel's President

U.S. House Speaker says no agreement yet on spending deal: U.S. House Speaker John Boehner (R-OH) speaks during a news conference on Capitol Hill in Washington D.C., capital of the United States, March 31, 2011. Boehner on Thursday urged Senate Democrats to pass a bill or produce a credible plan to cut spending and keep the government running for the rest of the fiscal year, noting that Republicans are fighting for the largest spending cuts

Japan poised to decommission damaged nuclear power plant: Japan has voiced intentions to decommission a severely damaged nuclear power plant whose continued radioactive leaks have kept thrown the country into an unrelenting crisis since the March 11 earthquake and tsunami struck.

UN chief attends inauguration ceremony of new UN office building in Nairobi: U.N. Secretary General Ban Ki-moon (L) and Kenyan President Mwai Kibaki shakes hands

Special Introduction

Finance

Technology stocks lead Wall Street higher: NEW YORK, July 19 (Xinhua) -- Technology stocks led Wall Street higher on Monday after Friday's plunge as investors continued to eye corporate earnings.

CITIC Securities tops underwriters: CITIC Securities Co, the largest listed domestic brokerage, and its subsidiary have topped the list of brokers earning underwriting fees for the first batch of stock listings on the NASDAQ-style growth enterprises board (GEB), which is to be officially launched today.

Akzo Nobel adds fresh coat of funds in Suzhou: Akzo Nobel NV, the world's largest producer of paints, launched a 23-million-euro (US$33.9 million) plant for protective coatings in eastern China yesterday, to meet rising demand and expand market share.

Pension fund ups stake in Datang: Datang Telecom Technology & Industry Holdings Co, a major developer of China's home-grown 3G standard, received a 2.6 billion yuan investment from the country's national pension fund, sources said.

Dollar rises against most major currencies: U.S. Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee on financial regulatory reform on Capitol Hill in Washington October 1, 2009.

The million-dollar query: When China's holdings of US Treasuries dipped in April, it was seen as a clear indicator of the nation's uneasy relationship with the world's reserve currency - to sell in the face of a sliding greenback or hold to protect the value of its assets from eroding further.

Gold further hikes after Greece approves austerity plan: Gold futures on the COMEX Division of the New York Mercantile Exchange extended rally on Wednesday, as Greek approval of austerity measures could boost the euro against the U.S. dollar, which is helpful in supporting gold price.

Beijingers in gold rush at year end: A couple selects gold products at Caibai Store yesterday. Gold rings and necklaces are popular New Year gifts among local people.

US stock futures mixed: Traders react as they eye financial charts and data on the floor of the New York Stock Exchange, Friday Jan. 2, 2009. Wall Street began the new year optimistically Friday as investors brushed off a weaker-than-expected report on manufacturing and sent stocks higher.

Agriculture futures trade mixed on CBOT: Wheat, soybean futures decline on Chicago Board of Trade; corn futures advance

Fourth Biggest Bank in California Taken over by Regulators: A California National Bank branch is shown in downtown Los Angeles October 30, 2009. Regulators are expected to seize Los Angeles-based California National Bank on Friday in what would be the fourth-largest U.S. bank failure this year, the Los Angeles Times reported, citing unnamed sources.

ICBC remains most profitable Chinese company: BEIJING, April 1 -- The Industrial and Commercial Bank of China (ICBC), the world's largest bank by market value, continued to be the country's most profitable company last year as it reaped 129.4 billion yuan (18.95 billion U.S. dollars) of after-tax profits.

AIG plans to spin off Asian life insurance unit: NEW YORK – Insurer American International Group Inc. said late Sunday it plans to spin off its Asian life insurance unit in an initial public offering to help repay billions of dollars in U.S. government loans.

Huijin buying into New China Life: Central Huijin Investment Co Ltd, the domestic arm of China's sovereign wealth fund, is buying a 38.8 percent stake in New China Life Insurance Co Ltd (NCL) from Insurance Protection Fund, the latter said in a statement yesterday.

Nortel to offer $500 million in senior notes: Nortel Networks to offer $100 million in senior unsecured notes

Second Chinese Local Gov't Bonds Launched: The Anhui Provincial Government Wednesday launched bonds worth 4 billion yuan (585.2 million U.S. dollars) on the market, the second batch of 200-billion-yuan in Chinese local government bonds issued this year.

CEOs, famous investors hit hard by market plunge: Here's something that might provide a bit of solace amid the plunging values in your retirement accounts: Warren Buffett is losing lots of money, too. So are Kirk Kerkorian, Carl Icahn and Sumner Redstone.

What crisis? Chinese Women happy to spend: Spurred on by rebates and the trickle down of the country's stimulus package, Chinese housewives, who traditionally control the pockets of their families, are buying the latest fashions, investing in stocks and traveling.

Today's Market

Industries

GM to sell Saab to Dutch automaker Spyker: Spyker Chief Executive Victor Muller (R) attends a press conference with Saab CEO Jan-Aake Jonsson after they announced that Spyker would buy Saab from General Motors in a deal worth 400 million U.S. dollars in Stockholm January 26, 2010.

Geely may complete Volvo purchase by May: Zhejiang Geely Holdings, the parent company of carmaker Geely Automobile, aims to sign an agreement to buy Ford's Volvo unit by Feb 8 and complete the transaction in May, according to media reports yesterday.

Britain's BP, Chinese oil firm win Iraq deals: BAGHDAD – British energy giant BP and China's CNPC International Ltd were unveiled Tuesday as the first foreign firms in decades to win contracts to invest and develop in Iraq's war-battered energy sector.

Power firms bleed from high costs: Workers check power transmission lines in Guangzhou. China's power consumption is expected to rise 7 percent this year, according to the State Electricity Regulatory Commission.

Hawaii sees 40% drop in tourists due to financial crisis: Photo taken on Nov. 23, 2008 shows a scattering of visitors at Waikiki Beach of Honolulu, Hawaii, United States. The former bustling resort of Hawaii witnessed a 40 percent decrease in the number of travelers this year due to the ongoing global financial crisis.

Grids Pushed to Tap Clean Power: Technicians assemble a solar-powered street lamp in Jing'an county of Jiangxi province on December 11. Official statistics showed China as a leader in hydro and solar power usage last year.

Airbus A320 assembled in Tianjin: Three Airbus A320 are assembled at general assemble workshop in north China's Tianjin municipality, on Dec. 23, 2008. It is estimated that the first plane will be painted in early 2009.

Pudong gets C919 final assembly line: Commercial Aircraft Corp of China Ltd (COMAC), which is in charge of the indigenous C919 passenger airplane program, announced yesterday that it would set up its final assembly line in Shanghai's Pudong New District.

NASA's Stardust spacecraft depleted fuel and ceased operation on Thursday: This is the end of the spacecraft's operations, but really just the beginnings of what this spacecraft's accomplishments will give to planetary science," said Lindley Johnson, Stardust-NExT and Discovery program executive at NASA headquarters in Washington

Turning off online addiction: Parents in China can pull the plug on their kids' online gaming by asking game operators to end services for minors, according to a program launched over the weekend by the culture ministry and six major online gaming companies.

Retaliation against US soy farms is unlikely: The US government gives large amounts of subsidies to its farmers and dumps soybeans in China, Chen Dongqi, vice head of the macroeconomic institute of the National Development and Reform Commission, told a recent conference.

Down on the Farm: China is encouraging the transfer of usage rights for arable land in the countryside to boost farm production.

HP's quarterly results beat expectations: HP's revenue reached 33.3 billion U.S. dollars in the company's 2010 fiscal fourth quarter ended on Oct. 31, up 8 percent from the same period a year earlier.

China Telecom to sell BlackBerry: China Telecom announced Monday that it has signed an agreement with Research In Motion (RIM) to sell BlackBerry handsets in the Chinese mainland.

Seeks more seabed licences off Japan: Neptune Minerals plc, which has advanced marine licences for seafloor massive sulphide mineral deposits off New Zealand, has now stepped up activity on similar seabed mineral targets off Japan.

China denies claims of rare-earth stockpiling: An official denied reports Tuesday that China will ban the export of rare-earth minerals used in clean energy products and superconductors, in a move to ease deepening strain in the international community.

U.S. Move to Launch Probe into Steel Pipes Opposed: China resolutely opposes U.S. move to start anti-dumping and anti-subsidy investigations into seamless steel pipes imported from China.

Steelmakers Rattled by Price Shift: A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.

Toyota to recall 740,000 vehicles in U.S. over brake fluid leak: CHICAGO, Oct. 21 (Xinhua) -- Toyota Motor Sales (TMS), U.S.A., Inc., a U.S. sales unit of Toyota Motor Corp., has recalled 740,000 vehicles due to concerns over brake fluid leakage that could hurt braking performance.

China to become DHL's biggest express service market: China is set to become DHL's largest market in the world in terms of express service volume after the company moves out of the United States, Wu Dongming, managing director of DHL-Sinotrans, a joint venture of DHL and Sinotrans, said on Tuesday.

Fannie, Freddie plan to aid mortgage banks: report: U.S. government-controlled mortgage finance companies Freddie Mac (FRE.N) and Fannie Mae (FNM.N) are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.

Housing sales up as policy nears end: Beijingers and expats are buying up properties this month before the possible end of a citywide stimulus housing policy.

WORLD TRADE

Talks on World Trade

Talks on China Trade

ASEAN, gulf countries to increase trade ties: For the first six months of the year, trade between GCC countries and Malaysia totaled 9.5 billion U.S. dollars while foreign direct investments from the region totaled 3.6 billion U.S. dollars, the New Straits Times said.

Foreign buyers find Chinese toys competitive: Foreign buyers at China's 103rd Import and Export Fair, or Canton Fair, are positive about the competitiveness of Chinese toys, although average prices have risen by 20 percent over the past year, participants interviewed at the event said.

Low time for high fashion in Shanghai: Three leading international fashion brands on sale in Shanghai markets were found to have quality problems, officials said yesterday.

High fuel costs and disasters hit airlines: Air China Ltd, the nation's largest international carrier, reported a 21 percent drop in first-half profit and China Eastern Airlines Corp posted a loss after fuel prices doubled and natural disasters disrupted travel.

Foreign architecture firm win bid to masterplan Chongming Island: A foreign architecture firm has won a worldwide competition to create an environmentally-friendly urban master plan for Chongming Island, a 750-square-mile island at the mouth of the Yangtze River in Shanghai.

Pressure Builds on Employees: Nearly nine out of 10 Chinese workers are under growing pressure at work as China leads the world toward economic recovery, a global survey has found.

City World Expo 2010: Shanghai 2010 was yesterday confidently predicted to be the best World Expo on record - and that view came from the top.

Biz Co-op
WTO vs. China
Trade Laws
Trade Arguments
Trade Services
China Trade Data
Trade Zone

Cooperation with China vital for Japanese firms: Japanese enterprises' China dependency ratio is on the rise. Many Japanese corporations told Chinese Commerce Minister Bo Xilai during his current visit in Japan that their companies' development cannot be separated from their cooperation with China and they will continue to expand their businesses in China.

WTO;China's GDP-doubling target could be achieved: Given the high growth rate of China's economy, the country's target of doubling its GDP per capita by 2010 compared to the 2000 level appears to be within reach, according to a World Trade Organization (WTO) report released Wednesday.

Mainland's New Policies to Help Taiwan Businesses: New economic policies aiming to maintain the continuous growth of the Chinese mainland would also benefit Taiwanese-invested businesses, a mainland official said Wednesday.

China's trade surplus falls more than 11% in 1st half: China's trade surplus fell to 99.03 billion U.S. dollars in the first half of this year, down 11.8 percent from the same period last year, the General Administration of Customs said on Thursday.

US urged to honor free trade: China urged the Obama administration Thursday to stick to its G20 summit pledge to oppose trade protectionism, as Washington's launch of anti-dumping and countervailing probes into imports of Chinese steel pipes are feared widening the existing trade spat between the two key powers.

On bumpy road, Chinese exporters tap into home market: GUANGZHOU, May 17-- At a sales booth in a special trade fair here in southern China, Zhou was complaining how hard it was to sell her products.

China approves border development zone in NE: Russian businesswomen buy toys at a store in Huichun,Northeast China's Jilin Province in September 2009. Before the zone was approved, cooperation was centered around Huichun.

Gallery on Biz

Mainland tourists a big boon for Taiwan

Mainland tourists a big boon for Taiwan

China stocks fall 5.3 percent to 16-month low

China stocks fall 5.3 percent to 16-month low

Investment

Invest in China

Crisis dampens zeal to go global: The world financial crisis has severely dampened Chinese companies' enthusiasm for investing overseas, although many of them said they still want to go global, results of a survey showed on Wednesday.

China Merchants Binzhou City institutions abroad: China Merchants Binzhou City institutions abroad

China will properly handle trade differences with EU: China will work with the European union (EU) to handle differences properly in bilateral trade and investment, by means of dialogue and negotiation, Chinese Vice Premier Wang Qishan said in Beijing on September 26.

Angel Lee Jin-chang: a great sense of fun: Lee Jin-chang is the title of "world-renowned futurist and angel investors", such as Sina, Tencent such Internet predators are the angel investors to enter early.

China May Benefit from Investing in Underdeveloped and Developing Countries: Industrial and commercial leaders, chambers of commerce, companies from over 120 countries attended the first China Overseas Investment Fair, which kicked off on Monday in Beijing.

Businesses still bullish on China: European firms in China are still optimistic in spite of the global economic turmoil and remain firmly committed to the country, according to a survey released yesterday.

More policies set to boost economy£¨Pic£©: More efforts would be made to encourage enterprises to upgrade their technology and innovate to help the country face the international financial crisis, the State Council said Wednesday.

LNG projects are changing China's energy mix: On the eastern coast of China, the country's oil companies are building or already operating a series of liquefied natural gas (LNG) projects.

China announces huge rail investment: The country's State Council has approved a total of two-trillion-yuan (292.2 billion U.S. dollars) investment in railways construction, which was set in the Mid-term and Long-term Railway Network Scheme issued in 2004, according the Ministry of Railway (MOF).

Is there any change in the requirements for Hong Kong, Macao and Taiwan investors to set up joint-ventured foreign trade companies?: There is no change. Companies and enterprises from Hong Kong SAR, Macao SAR and Taiwan region that join hands with the companies and enterprises in the Chinese mainland to set up joint-ventured foreign trade companies shall comply with the Interim Methods for Establishment of Chinese-Foreign Joint-Ventured Foreign Trade Companies.

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Enterprises

SMEs Need More Support

Small- and medium-sized enterprises (SMEs) deserve more support from the central government, business experts said in Shenzhen Tuesday.

ShowRoom

Gougou Gattai Vehicle #4 - Gougou Crane(Pic)

The Super Sentai saga - created and produced by Toei Company, Ltd. since 1975 - celebrates its 30th anniversary in 2006!

Kinland Truck/ Kingrun Truck(Pic)

Place of Origin:China Hubei Brand Company：Wuhan Gold Iris Trade Co., Ltd. Name:Dongfeng

STABILUS: STABILUS is a manufacturer of hydro-pneumatic adjustment elements (gas springs), hydraulic vibration dampers, Stepless Door Positioning System, and automatic opening and closing systems for doors, trunk lids, and tailgates.

Twin Stack 120v Ingersoll Rand Air Compressor: Lightweight, compact design makes portability easy. The durable cast iron cylinder and rugged pump ensure long service life. 2 HP electric direct drive motor has continuous duty cycle and runs on 120 volts so it can be powered easily.

Ingvar Kamprad, IKEA Founder: Ingvar Feodor Kamprad (born March 30, 1926) is a Swedish entrepreneur who is the founder of the home furnishing retail chain IKEA.

Wuhan Gold Iris Trade Co., Ltd（Pic）: Wuhan Gold Iris Trade Co., Ltd. specializes in selling complete Dongfeng series trucks and spare parts, Dongfeng Cummins engines and spare parts. We professionally integrate production and trade together.

Electronic Fuel Injection Go Kart: Super power for fun! Super high ground clearance! Super long travel shock! Removable & height adjustable steering wheel, alloy rack.

Pan Shiyi: In China's property circles, Pan Shiyi is a legendary figure. He looks shy and unassuming, but is actually an extremely unconventional and dynamic businessman.

Video on Company

A News Corp. sign in New York

A News Corp. sign is seen outside of its offices in New York. Internet infrastructure company VeriSign announced on Tuesday it had sold its minority share in a mobile entertainment joint venture to Rupert Murdoch's News Corp. for 200 million dollars.

Volvo President and Chief Executive Stephen Odell(Pic)

Volvo President and Chief Executive Stephen Odell, stands at a podium for a news conference at Volvo headquarters in Gothenburg, Sweden,

CEO with us

Fonterra CEO Andrew Ferrier

Fonterra CEO Andrew Ferrier answers questions in Auckland, New Zealand Sept. 17, 2008 during a press conference regarding the chemical melamine being discovered in their milk powder in China. A New Zealand man says he fell ill after eating sweets made with tainted Chinese milk, local media reported Friday, Sept. 26, 2008.

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