News on Chinese Economy

Senate bill threatens stiff penalties on China

2010-03-16T09:46:10Z

<div><p>WASHINGTON (Reuters) - Members of the U.S. Congress on Tuesday threatened Beijing with duties on some of its exports if it fails to revalue its currency, pressuring the Obama administration to label China a curre...

Lawmakers press for action on China currency

2010-03-16T09:46:05Z

<div><p>WASHINGTON (Reuters) - Members of Congress on Tuesday threatened Beijing with duties on some of its exports if it fails to revalue its currency, pressuring the Obama administration to label China a currency manipulator.</p><p>The bipartisan bill to be introd...

China criticizes US pressure over currency

2010-03-16T04:15:31Z

<div id="subtitle">China criticizes US pressure over currency, says yuan not to blame for US deficit</div><div><p>China on Tuesday rejected U.S. calls to ease currency controls and said criticism would not help efforts to end the global crisis.</p><p>A Commerce Ministry spokesman repeated Chinese complaints that Washington was acting unreasonably by expectin...

China hits back at US lawmakers on currency

2010-03-16T00:16:00Z

<div><p>China on Tuesday dismissed calls from US lawmakers for Beijing to be labelled a currency manipulator, saying the value of the yuan was not to blame for global trade imbalances.</p><p>The comments echoed those by Premier Wen Jiabao at the weekend, who said Beijing ...

Rates hold to tight range ahead of Fed meeting

2010-03-15T15:01:21Z

<div id="subtitle">Interest rates shuttle in narrow range ahead of Fed's meeting on interest rate policy</div><div><p>Interest rates barely budged in the bond market Monday ahead of the Federal Reserve's meeting on interest rates.</p><p>Policymakers aren't expected to raise the Fed's benchmark rate from record low levels at their meeting Tuesday.</p><p>Traders will be looking f...

China tightening fears send Asian markets lower

2010-03-15T03:15:49Z

<div><p>Speculation that China will take more steps to cool its economy hit sentiment in Asia Monday, with Shanghai and Hong Kong lower as risk-averse investors stayed on the sidelines.</p><p>Trade was relatively quiet ahead of meetings this week by ...

China faces tough year, Wen rejects pressure on yuan

2010-03-14T06:15:47Z

<div><p>China faces a difficult year as it works to maintain economic growth and spur development, but will not be bullied into changing its exchange rate policy, Premier Wen Jiabao said Sunday.</p><p>In a wide-ranging press conference at the end of China's annual session of parliament, Wen said Beijing was not ready to withdraw stimu...

Business Highlights

2010-03-12T15:01:15Z

<div><p>Retail sales show surprising gain in February</p><p>WASHINGTON (AP) — Retail sales posted a surprising increase in February as consumers refused to let snowstorms stop them from stepping up purchases for everything from clothes to appliances. The improvement provided hope that the recovery from the Great Recession is gaining momentum.</p><p>Some economists cautioned that spending increases will remain modest as long as wages stay flat and job creation ...

A look at global economic developments

2010-03-11T14:32:20Z

<div id="subtitle">A look at economic developments and activity in major stock markets around the world</div><div><p>A look at economic developments and activity in major stock markets around the world Thursday:</p><p>___</p><p>BEIJING — China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the...

US trade gap narrows on falling imports, exports

2010-03-11T08:16:58Z

<div><p>The US trade deficit narrowed unexpectedly in January as imports and exports declined and overall volume fell for the first time in five months, the government reported Thursday.</p><p>The Commerce Department said the trade deficit shrank to a seasonally adjusted 37.3 billion dollars, down from 39.9 billion dollars in Dece...

Ahead of the Bell: Trade deficit expected to widen

2010-03-11T03:16:40Z

<div id="subtitle">Trade deficit likely widened slightly in January reflecting higher foreign oil bill</div><div><p>The U.S. trade deficit likely widened slightly in January reflecting a higher foreign oil bill and a drop in aircraft exports.</p><p>Economists surveyed by Thomson Reuters expect the trade deficit increased to $41 billion, a 2 percent increase from December. The...

New data show weaker recovery in Japan

2010-03-11T00:16:48Z

<div><p>Japan's economy is recovering more slowly than previously thought from its worst recession on record, hobbled by stubborn deflation and weak domestic demand, government data showed Thursday.</p><p>The world's number two economy expanded at a pace of 0.9 percent in October-December from the previous quarter, revised down from an initial estimate of 1.1 percent growth, the government said.</p><p>Gross domestic pr...

China Inflation

2010-03-10T21:31:23Z

This picture taken Wednesday Feb. 10, 2010 shows a Chinese select dry meat at a department store in Beijing, China. China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world's third-largest economy on track. (AP Photo/Vincent Thian)

Yuan policy shift depends on recovery: China

2010-03-08T05:16:02Z

<div><p>A top official at China's central bank said Monday uncertainties remained about when Beijing would allow the yuan to appreciate, and it would depend on domestic and global economic conditions.</p><p>At the weekend, central bank governor Zhou Xiaochuan hint...

China Politics

2010-03-06T20:18:20Z

Zhou Xiaochuan, governor of the People's Bank of China, right, gestures while Xie Xuren, China finance minister, speaks to the media during a financial and economy press conference of the Nat...

China economy faces 'crucial' year: Wen

2010-03-05T11:17:32Z

<div><p>China on Friday predicted another year of rapid expansion in 2010 but pledged to ensure the benefits of economic growth are shared more evenly, as concern mounts over a widening rich-poor divide.</p><p>In his annual "state of the nation" address to open parliament, Premier Wen Jiabao also pledged to tame inflation and curb rampant bank lending to forestall a risky bubble ...

China tightens belt but keeps eye on social rifts

2010-03-05T00:15:53Z

<div><p>BEIJING (Reuters) - China will seek to heal social rifts and spur home-driven growth with more public welfare and rural spending even as the government tightens its belt after a burst of feverish spending, Premier Wen Jiabao said on Friday.</p><p>Wen told the co...

China, wary over economy, to steer steady course

2010-03-04T20:04:27Z

GM's China sales up 51 percent in February

2010-03-03T00:32:50Z

<div id="subtitle">GM says China sales up 51 percent in February on strong demand for Chevrolets, Cadillacs</div><div><p>General Motors said its February vehicle sales in China rose 51 percent from a year earlier on strong demand for Chevrolet and Cadillac models as well as its popular minivans.</p><p>The 174,306 vehicles sold by Genera...

Oil prices dip after hitting 18 month high

2010-03-01T14:16:24Z

<div><p>Oil prices retreated Monday on a strong dollar after surging to the highest level in 18 months.</p><p>New York futures contract, light sweet crude for April delivery dropped 96 cents to 78.70 dollars a barrel after hitting an intra day high of 80.62 dollars -- the highest level since mid-January.</p><p>London's Brent North Sea crude for April lost 70 cents to 76.89 dollars.</p><p>Independent...