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China to be biggest economy globally by 2050
As a major player on everyone's lips, China, the world's fastest-growing economy, is set to overtake the United States as the biggest economy globally by 2050, according to a PricewaterhouseCoopers report. Although China's growth is expected to slow from the current high rate, it will surpass the United States based on purchasing power parity by 2050 and lead seven other emerging countries to overtake the Group of Seven, or G7, as the world's biggest economic bloc, the report said.
Samsung aims to buy more from China
Samsung China aims to buy supplies worth US$18.5 billion from China this year, up from US$15.3 billion in 2005. China has become the second-largest market and manufacturing base for the South Korean firm, which faces tough competition in the Chinese market.
China opens railway station design market
China has decided to further open its railway station design market by offering over 200 new stations for public bidding. The engineering design center under the Chinese Ministry of Railways held a briefing on Thursday in Beijing for nearly 90 domestic and overseas construction design companies.
China grants US$350 mln to foreign investors
China's foreign exchange authority has awarded investment quotas totaling US$350 million to three qualified foreign institutional investors (QFII), according to the China Securities Journal.
China's GDP grows by 10.2% in first quarter
Chinese mainland scored a 10.2 percent growth in its gross domestic product in first quarter of this year, said Hu Jintao, general secretary of the Central Committee of the Communist Party of China, in Beijing Sunday.
China relaxes forex control
China's central bank announced on Thursday the relaxation of controls on foreign exchange accounts, simplifying approval procedures for foreign exchange payments in the service trade, and procedures for individuals to buy foreign currencies.
China forex reserves become the world's biggest
China has overtaken Japan to become the world's biggest holder of foreign exchange reserves after its stockpile grew $8.5 billion in February to $853.7 billion, the China Business News reported on Tuesday.
China raises yuan market prospect
China's yuan is the focus of U.S. pressure on the bilateral trade front. China raised the prospect on Tuesday of allowing market forces to play a greater role in setting the value of the yuan, saying most companies had adapted well to the country's floating exchange rate regime.
China assails US trade policies
Chinese Ambassador to the World Trade Organization (WTO) Sun Zhenyu on Wednesday voiced China's concerns over U.S. trade policies and urged the United States to respond to those concerns.
Japan to freeze loans to China over bad ties
Japan plans to temporarily freeze its yen loans to China for the current fiscal year because of worsening relations between the two nations, Kyodo News agency reported Thursday.
A senior Foreign Ministry official told a committee of the ruling Liberal Democratic Party on Thursday of the decision to freeze the loans, Kyodo said in the unsourced report.
Consumer tariff shakes market
China's decision to make sweeping changes to the current consumption tax regime, which was announced on Tuesday and will take effect starting April 1, is turning some public companies into investors' darlings, while making life harder for others.
China and Russia are poised to expand electricity trade
China and Russia are poised to expand electricity trade, a major step toward co-operation in the energy sector.
China Development Bank to go beyond infrastructure lending business
China Development Bank (CDB) will strengthen operations in development financing to fuel the continuous growth of the national economy, its head said yesterday.
China seeks new deal in health reforms
According to Ge's estimate, the building of a new health system that will make health services available and affordable to everyone will cost anywhere between 19 billion to 25 billion U.S. dollars, or around 1.5 percent of China's gross domestic product in 2005. This is an affordable plan for China.
RMB rises to new high against USD
China's currency strengthened on Friday to its highest level against the U.S. dollar since its July 21 revaluation on heightened market forces, a weakened dollar and technical rebounds.
Chinese currency: China doing its best on flexible yuan
China is doing its best to move toward a freely traded currency, a central bank official said, appealing for understanding from two US senators who are threatening trade sanctions unless the yuan's value rises.
China can't pay more for iron ore
China's government won't interfere in price talks between its steel makers and foreign iron ore suppliers, a Cabinet minister said Friday, though the government insisted it can't afford another jump in already high prices. The comments by Ma Kai, the minister in charge of China's main planning agency, came after suppliers expressed alarm at suggestions the world's top steel producer might try to dictate prices following a 71.5 percent rise in iron ore costs over the past year.
EU likely to impose tax on Chinese shoes
The European Commission is likely to impose a provisional tax on imports of Chinese leather shoes, despite disagreement about the move among member states. The final decision, the result of allegations that Chinese firms "dumped" cheap shoes in the European Union (EU), is scheduled to be made next week.
EU anti-dumping tariffs free for some Chinese shoes
Chinese labour safety shoes are likely to be free from European Union (EU) anti-dumping tariffs.
Nations get together to seek energy
The world's heavyweight energy producers and consumers are increasing international co-operation to address growing demands for energy, with several cross-border projects involving China, India and Russia being possible.
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