China to develop starting point of Maritime Silk Road

Chinese Vice Premier Zhang Gaoli urged acceleration of the opening-up of southeast China’s Fujian Province, the starting point of the historic Maritime Silk Road, during his visit there from Thursday to Saturday. Zhang said the local authorities should strengthen economic ties with countries and regions along the maritime trade route and boost two-way investment. More […]

China’s June forex purchase likely to rebound

Foreign exchange purchases in June will rise significantly from May, Lian Ping, chief economist at Bank of Communications, was quoted by Saturday’s China Securities Journal as saying. Lian noted that June’s exports are very likely to move up following improvements from March to May, probably resulting in a bigger trade surplus and more funds available […]

BMW, China’s Brilliance extend contract term

BMW, China’s Brilliance extend contract term

German car maker BMW Group and its Chinese partner Brilliance Auto have agreed to extend the term of their joint venture contract to 2028. The contract extension will lay a solid foundation for BMW’s further development in China, Friedrich Eichiner, chief financial officer and group board member, said in Beijing on Wednesday. The group also […]

China’s SOEs more profitable in 1H

Profits of China’s state-owned enterprises (SOEs) grew faster in the first half of this year from a year earlier. Combined profits of SOEs administered by both central and local authorities increased 8.9 percent year on year to 1.22 trillion yuan (198 billion U.S. dollars) in the year half, the Ministry of Finance (MOF) said on […]

China contributes $41 bln to contingent reserve

The BRICS countries are a step closer to having a bigger say in the world’s financial system, after it announced the establishment of the BRICS New Development Bank. The BRICS economies have agreed to create the Contingent Reserve Arrangement, where each country’s central bank puts aside a designated amount of money to combat any potential […]

BRICS voices disappointment with non-implementation of IMF reforms

BRICS voices disappointment with non-implementation of IMF reforms

The world’s leading emerging economies on Tuesday expressed their disappointment with the failure to implement the 2010 International Monetary Fund (IMF) reforms. “We remain disappointed and seriously concerned with the current non-implementation of” the IMF reforms, said a joint declaration of Brazil, Russia, India, China and South Africa, collectively known as BRICS. The failure negatively […]

China’s GDP grows 7.4 pct in H1

China’s GDP grows 7.4 pct in H1

China’s economy grew 7.4 percent year on year in the first half of 2014, the National Bureau of Statistics (NBS) announced on Wednesday. Growth in the second quarter stood at 7.5 percent, picking up from the 7.4 percent expansion in the first quarter. “The Chinese economy showed good momentum of stable and moderate growth in […]

China’s H1 fixed asset investment up 17.3 pct

China’s fixed asset investment grew 17.3 percent year on year in the first six months of 2014, the National Bureau of Statistics (NBS) announced on Wednesday. The figure was slightly down from the 17.6-percent growth registered for the January-June period last year and also the first quarter this year, according to the NBS. Xinhua

BRICS leaders hail outcome of first-day summit after 4 major deals signed

BRICS leaders hail outcome of first-day summit after 4 major deals signed

Leaders of BRICS countries hailed the outcome of their first-day summit on Tuesday, when four major agreements were signed in key economic areas. The BRICS, which groups Brazil, Russia, India, China and South Africa, is holding its sixth summit on Tuesday and Wednesday in Brazil’s northeastern coastal city of Fortaleza. The first day of the […]

The CBBC China Outbound Conference 2014

The growing tide of Chinese outbound investment is one of the most exciting trends in the UK-China commercial relationship. Some of the biggest names in Chinese business have been drawn to the UK’s open and welcoming environment in recent years, making Britain the number one destination in Europe for Chinese investment. CBBC’s China Outbound programme […]