China could next year notch up growth of 9 percent, or even above, as the world’s fourth-largest economy pulls out all stops to stimulate investment and consumption, the nation’s top think tank said on Tuesday.
“I think China can achieve 9 percent GDP growth, or even higher,” said Wang Tongsan, a senior economist at the Chinese [...]
The biggest interest rate cuts made by the People’s Bank of China in 11 years demonstrate the central government’s strong determination to curb a further slide of the economy in the context of the world’s financial crisis.
The central bank made a decision last Wednesday to cut 108 basis points respectively on the benchmark one-year lending [...]
China’s currency, the Renminbi yuan, fell for the fourth straight trading day against the U.S. dollar after China’s central bank announced the fourth interest rate cut since mid-September.
The yuan’s central parity rate announced by the China Foreign Exchange Trading System was 6.8527 yuan to one U.S. dollar on Tuesday, compared with 6.8505 yuan on Monday.
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China’s economy may grow 10 percent next year as the “huge” potential of domestic consumption and investments counter the impact of a global slowdown, a State Council researcher said.
The “vast development potential” of the world’s most-populous nation will ensure a fast rate of expansion next year, said Zhang Liqun, a researcher with the Cabinet’s Development [...]
China’s 3 trillion yuan ($440 billion) insurance industry was largely insulated from the U.S. subprime crisis that hit AIG (AIG.N: Quote, Profile, Research, Stock Buzz) and other foreign firms, but the fallout poses the toughest challenge in a decade as profits tumble and demand for insurance products slumps.
China’s cautious regulators reined in the overseas adventures [...]
China’s yuan fell by the most in seven weeks, three days before U.S. Treasury Secretary Henry Paulson visits Beijing for trade talks, on speculation the central bank wants to weaken the currency to spur the economy.
The People’s Bank of China set its daily reference rate at the weakest level since August, after resisting pressure for [...]
