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China issues rules to promote cross-border trade settlement in yuan PDF Print E-mail
Written by kevin   
Thursday, 02 July 2009 20:49

The Peoples' Bank of China, China's central bank, issued Administrative Rules on Pilot Program of Renminbi Settlement of Cross-border Trade Transactions in order to facilitate trade, to make sure the pilot renminbi settlement of cross-border trade transactions is smoothly executed, to regulate the behaviors of pilot enterprises and commercial banks, and to prevent risks arising from the above business. 

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China's development plan on nuclear and wind power PDF Print E-mail
Written by kevin   
Thursday, 02 July 2009 20:25

China is planning for an installed nuclear power capacity of 86 GW by 2020, up nearly 10-fold from the 9.1 GW capacity it had by the end of last year.  China had 11 working nuclear reactors as of the end of last year.  The country's total projected power capacity is 1,500 GW by the year 2020. 

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China's export tax refund reached 290 billion yuan January to May PDF Print E-mail
Written by kevin   
Wednesday, 01 July 2009 20:48

According to China's Administration of Taxation, China's tax refund for exported products reached 290 billion yuan from January to May, up 23.4% from the same period of last year.  Among 13,000 exported products, 1,971 of them have realized 100% tax refund.

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China to set up a new economic zone PDF Print E-mail
Written by kevin   
Wednesday, 01 July 2009 21:48
An executive meeting of China's State Council presided over by Premier Wen Jiabao on Wednesday approved plans in principle to develop the economic zone along the Bohai coastline in Liaoning Province in an effort to rejuvenate the traditional industrial base, improve the macroeconomic structure along China's coastlines, balance regional economic development, and further open China's economy.
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June PMI shows 4th consecutive month of economic expansion PDF Print E-mail
Written by kevin   
Tuesday, 30 June 2009 21:33

According to a release by China Federation of Logistics and Purchasing, China's June PMI for the manufacturing sectors was 53.2%, 0.1% higher than the 53.1% of May.  As can be seen from the chart below, the manufacturing PMI has stayed above 50 for 4 consecutive months, indicating China's economy has been expanding continuously.  The lowest PMI was in November, when it stood at 38.8%. The PMI for non-manufacturing is not released yet.

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