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| July 03, 2009 |
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our time will build eternity |
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China wants diversified global monetary system: govt Beijing (AFP) July 2, 2009 
China said Thursday it wanted a broader global monetary system days before President Hu Jintao was set to leave for the G8 summit, during which the issue of a new reserve currency could be raised. "We hope that in the future the international monetary system will be diversified," vice foreign minister He Yafei told reporters in a briefing about Hu's trip to the Group of Eight meeting in ... read moreChina luxury hotels hit by downturn, swine flu: report 
Beijing (AFP) June 29, 2009Luxury hotels in Beijing have been forced to lay off staff and cut costs as the number of guests has plummeted due to the economic crisis and the swine flu outbreak, state media said Monday. The average occupancy rate at the capital's star-rated hotels was 44.5 percent during the first quarter of the year, down from 54.6 percent in the same period a year ago, the China Daily said, citing ... more
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Hong Kong yet to emerge from financial crisis: chief executive
Hong Kong (AFP) June 28, 2009Hong Kong has still to emerge from the effects of the global economic slowdown despite early signs of returning stability, the city's chief executive Donald Tsang said Sunday. Tsang said that big challenges remained for the city, whose key industries of finance and exports have been hit hard by the crisis. "There is no doubt we have yet to emerge from the impact of the financial tsunami ... more China to train housekeepers to reduce 40-mln jobless: report 
Beijing (AFP) June 19, 2009China expects more than 40 million people to be unemployed in 2009 and wants to tackle the problem by training more to become housekeepers, state media reported Friday. The government's jobless forecast, reported by the Beijing News, comes after several warnings that the global financial crisis has had a serious impact on the nation's trade-dependent economy. Earlier this year, state ... more World Bank raises China 2009 growth forecast 
Beijing (AFP) June 18, 2009The World Bank raised its forecast Thursday for 2009 growth in China, citing a massive public spending drive that offset weak exports, but warned it was too soon to declare an end to the crisis. In its quarterly forecast, the bank said it expected the world's third-largest economy to expand by 7.2 percent this year, up from a 6.5 percent prediction made three months earlier. "Development ... more Emerging giants warn dollar at first summit 
Yekaterinburg, Russia (AFP) June 17, 2009Leaders from the world's top emerging economic powers on Tuesday delivered a warning-shot to the domination of the US dollar as their new forum flexed its muscle at a first ever summit. The leaders of Brazil, Russia, India and China -- dubbed the BRIC nations -- called for a "more diversified" currency system after a meeting that came amid growing talk over the dollar's future as the global ... more |
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World banks must act against toxic assets: China
Beijing June 12, 2009The US government and global financial authorities need to remove toxic assets from their banking systems to restore world economic stability, a top Chinese banking regulator said Friday. Actions taken by governments worldwide to stabilise the financial sector "have gradually eased the panic," Liu Mingkang, chairman of the China Banking Regulatory Commission, told a forum. "But from the ... more Big four emerging economies meet for first summit
Yekaterinburg, Russia (AFP) June 16, 2009Leaders from emerging giants Brazil, Russia, India and China were Tuesday to meet for the first summit of their informal BRIC grouping in a show of unity in the face of a sharp global slowdown. The idea for the BRIC (Brazil, Russia, India, China) grouping was spawned after research by a US investment bank suggested the four economies were developing at such pace they could be amongst the wor ... more China data shows some hope despite exports tumble 
Beijing (AFP) June 11, 2009China's exports plummeted for a seventh straight month in May, data showed Thursday, as the world's third biggest economy continues to feel the strain of the global economic slump. However, investment in fixed assets soared as Beijing tries to boost spending at home to compensate for a dive in shipments to key markets that have been sent into recession. Customs authorities said on ... more China's Hu to attend first BRIC summit: govt 
Beijing (AFP) June 9, 2009Chinese President Hu Jintao is to visit Russia next week to take part in the first-ever summit of leaders of BRIC countries, the foreign ministry said Tuesday. Hu will leave China on Sunday for a five-day trip to Yekaterinburg in western Russia, which will also incorporate a state visit and regional security meeting, foreign ministry spokesman Qin Gang said in a statement. The summit of ... more |
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