China’s retail sales rose 22 percent, close to the fastest pace in nine years, signaling that domestic demand may help the fourth-biggest economy withstand a looming global recession.
Sales climbed to 1.008 trillion yuan ($148 billion) in October, the statistics bureau said today, after gaining 23.2 percent in September from a year earlier. The increase matched [...]
China’s railway and road ministries have promised to invest quickly and aggressively to help execute the government’s 4 trillion yuan ($586 billion) economic stimulus package.
The Ministry of Railways plans to invest 600 billion yuan in 2009, up from 350 billion yuan this year, a figure that has been increased from the original target of 300 [...]
China will allow insurance funds to invest in non-listed companies so as to increase their investment opportunities, China Insurance Regulatory Commission (CIRC) spokesman Yuan Li told reporters on Friday.
The State Council, or Cabinet, has given its approval to the idea and the CIRC was drawing up relevant measures, Yuan said.
Tags: CIRC, Fund, Insurance, investment
Financing costs declined on optimism China’s $586 billion stimulus package and the Group of 20 nations’ call for interest-rate cuts will help counter the global credit freeze.
The difference between the rate Australia’s banks charge each other for three-month loans and the overnight indexed swap rate, a measure of funding availability, fell 1 basis point to [...]
The Chinese government will inject more funds for investment and improve investment structures to better cope with adverse global economic conditions, the State Council (Cabinet) decided at an executive meeting presided over by Premier Wen Jiabao on Monday.
To achieve “steady and relative fast” economic growth and prevent “economic ups and downs” amid global and domestic [...]
China said yesterday it would loosen credit conditions, cut taxes and embark on the massive infrastructure spending program in a wide-ranging effort to offset adverse global economic conditions by boosting domestic demand.
A stimulus package estimated at 4 trillion yuan (US$586 billion) will be spent over the next two years.
The kitty will be used to finance [...]
