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25 Jun

China vows to ensure safety of nationals in Libya

China vows to ensure safety of nationals in Libya (Xinhua) BEIJING – China vowed on Tuesday to make every effort to ensure safety of its nationals stranded in Libya, and provide assistance for their evacuation. Foreign Ministry spokesman Ma Zhaoxu made the remarks in response to a question regarding China’s efforts in helping its citizens leave the war-torn country. “The staff of the Chinese embassy in Tripoli had been staying at their posts following the major changes of security situation in Libya, and paid [...]

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25 Jun

China’s yuan advances to 6.3925 against USD

China’s yuan advances to 6.3925 against USD Updated: 2011–08–16 11:19 The Chinese currency renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per US dollar on Tuesday, according to the China Foreign Exchange Trading system. In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted average [...]

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25 Jun

China considers opening of seed market

China considers opening of seed market BEIJING – China might further open up its seed market to foreign companies, with the Ministry of Commerce and the Ministry of Agriculture studying the market shares and development of these companies, said an official close to the matter. <img title="Seeds on display at an agricultural exhibition in Beijing. Currently, foreign companies can only participate in China's grain seed industry through joint ventures with domestic partners, and they are limited to a 49 percent stake [...]

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25 Jun

Trade balance possible next year

Trade balance possible next year Updated: 2011-08-23 07:39 By Hu Yuanyuan (China Daily) BEIJING – China may achieve a trade balance next year, as weakening demand from the US and the EU will hit exports while imports are set to grow, an official from the country’s top think tank said. State Councilor Dai Bingguo (second right) meets former UN under secretary-general Akashi Yasushi, the leader of the Japanese delegation to the 7th Beijing-Tokyo Forum, on Monday. Wang Chen (third right), minister of the [...]

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25 Jun

Global market to be volatile for years: Australian MP

Global market to be volatile for years: Australian MP CANBERRA, Aug. 24 (Xinhua) — Uncertainty and volatility are likely to feature in global financial markets for years to come, Australian federal Treasury secretary Martin Parkinson warned on Wednesday. Dr Parkinson addressed the University of Western Australia outlining Treasury’s vision for Australia’s economic future. He said the troubles facing Europe and the U.S. would weigh on the world economy, and domestically, for many years. “Unfortunately, recurrent episodes of volatility are likely to be [...]

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25 Jun

Euro zone crisis will hurt China’s real economy

China state media: Euro zone crisis will hurt China’s real economy China’s top official newspaper, the People’s Daily, says the debt crisis across the Euro zone will have a far-reaching impact on China’s real economy, mainly by sapping demand for exports. But it goes on to say, holdings of euro assets will limit any damage to foreign exchange reserves, as China holds a relatively small amount of euro assets. The article says the euro zone’s problems reflected deep-seated institutional failings that [...]

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25 Jun

New trend: Chinese bake mooncakes at home

New trend: Chinese bake mooncakes at home Still a month until China’s Mid-Autumn Festival, and mooncakes have already hit the supermarket shelves. But this year, many Chinese are turning their backs on store-bought cakes, opting to bake their own at home. Search for “mooncake moulds” on China’s top online shopping website, you can easily find over 5000 results. From moulds to pans, ingredients to decoration supplies, making mooncakes at home seems easier than ever. The products are reasonably priced, and some shops [...]

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25 Jun

China flash PMI rises in August

China flash PMI rises in August HSBC’s China Flash PMI showed the Chinese factory sector may have slowed slightly in August from July as new orders and new export orders eased on languid overseas demand. The flash Purchasing Managers’ Index (PMI), designed to preview China’s factory output before official data, edged up to 49.8 in August, from July’s final reading of 49.3. That leaves the index a touch under the 50-point mark that demarcates expansion from contraction in economic activity. HSBC publishes [...]

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25 Jun

China’s yuan advances to 6.3896 against USD Wednesday

China’s yuan advances to 6.3896 against USD Wednesday BEIJING, Aug. 24 (Xinhua) — The Chinese currency Renminbi, or the yuan, gained 91 basis points to a record high of 6.3896 per U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system. In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on [...]

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25 Jun

Drives make headway in the packaging industry

Drives make headway in the packaging industry The profit margins associated with the implementation of electric drives will see them experience widespread acceptance in the European packaging industry over the next seven years, according to recent analysis from Frost & Sullivan. “The need to maximise profit margins, while maintaining the competitive pricing of the end product, is motivating the implementation of drives in the packaging production line,” said Frost & Sullivan research analyst Ramasubramanian N. Rising energy costs have impacted the [...]

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