China considers traditional Chinese medicine legislation

China’s cabinet, the State Council, issued a draft on traditional Chinese medicine (TCM) legislation for public review on Thursday. China will establish a comprehensive TCM medical service system covering both urban and rural areas, the draft said. Local governments above the county level should set up TCM departments in public hospitals and promote TCM service […]

China Telecom gains Xbox One exclusivity

China Telecom will be the exclusive carrier of Microsoft Corp’s video game console Xbox One, the first of its kind to launch in the Chinese mainland this autumn, the Chinese operator announced on Thursday. The console will be sold in China Telecom’s sales outlets from September, the state-owned telecom firm announced at a press conference. […]

British volume of retail sales increases in June

Britain’s retail sales volume in June increased by 3.6 percent compared with June 2013 and by 0.1 percent compared with May 2014, said Office for National Statistics (ONS) on Thursday. In June 2014, all retail sectors recorded sales volume increase year-on-year. The last time this was seen was in March 2012, said ONS. In the […]

China to contribute to new global trade system

China to contribute to new global trade system

China will join in and contribute to the construction of a new global trade system, said Premier Li Keqiang in Beijing on Tuesday. Li also called on the United States to be more open and to create more favorable conditions for the two countries’ deeper cooperation, while meeting a delegation of U.S. business leaders and […]

Taiwan export orders up 10.6 percent in June

Taiwan export orders up 10.6 percent in June

Taiwan’s export orders surged 10.6 percent year on year in June to US$38.82 billion, buoyed by steadily warming global demand and a lower comparison base from last year, according to the Ministry of Economic Affairs July 21. “June marked the fifth consecutive month of growth and the largest percentage gain since December 2012,” said Lin […]

China-ASEAN trade up 4.8 pct in H1

Trade between China and the Association of Southeast Asian Nations (ASEAN) grew 4.8 percent year on year to 220.69 billion U.S. dollars in the first half of the year, according to the Ministry of Commerce (MOC) on Tuesday. Investment between China and ASEAN hit 120 billion U.S. dollars at the end of June this year, […]

Shanghai consumer goods imports on the rise

China’s financial hub of Shanghai has witnessed brisk demand for imported consumer goods, with a sustainable growth in value, said customs authorities on Tuesday. In the first half of this year, the value of goods imported to Shanghai reached 133.96 billion yuan (about 21.44 billion U.S. dollars), a 26.7-percent year-on-year increase, according to Shanghai customs. […]

China cuts retail oil prices

China cuts retail oil prices

Cuts in the retail price of gasoline by 245 yuan per tonne (39.80 U.S. dollars) and that of diesel by 235 yuan from Tuesday, were announced by China’s top economic planner on Monday. The adjustment means the benchmark retail prices drop by 0.18 yuan per liter for gas and 0.2 yuan per liter for diesel, […]

China Development Bank opens office in Venezuela

The China Development Bank (CDB) opened an office here on Saturday, a move that indicates the two countries will further strengthen their economic relations. Addressing the opening ceremony, CDB President Hu Huaibang stressed the importance of the office in boosting Chinese investment in Venezuela and promoting two-way trade. “Our office in Caracas is the second […]

G20 trade ministers meet in Sydney

The G20 trade ministers gathered in Sydney on Saturday to discuss the contribution of trade and investment to growth and how to strengthen the global trading system. Andrew Robb, Australian minister for Trade and Investment, said in the opening remarks to the G20 Trade Ministers Meeting that trade and investment have become of great interest […]