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China cuts rates again to spur growth2008-10-31 9:00:32
The central bank has cut interest rates for a second time in less than three weeks to bolster economic growth in the face of a worsening global financial crisis.The benchmark one-year lending rate dropped to 6.66 percent from 6.93 percent, while the one-year deposit rate was lowered to 3.60 percent from 3.87 percent.The revisions will come into effect today, the People's Bank of China said on its
New law won't raise labor cost2008-10-31 8:58:27
The new labor contract law does not increase any labor costs for lawful enterprises, says an article on the website of People's Daily. The following is an excerpt:When facing the same labor contract law, enterprises have different views about its impact upon labor costs. As a textile factory owner in Fujian province said, the law tilts in favor of employees, pushing up labor costs and thus squeezi
Vice Premier says China to expand domestic demand2008-10-30 13:48:50
Chinese Vice Premier Li Keqiang said on Monday China would strive to expand domestic demand to keep steady and relatively fast economic growth. Li made the remark in his speech at a forum of the Ninth Western China International Economy and Trade Fair held in Chengdu, capital of southwest China's Sichuan Province. Facing the current international financial situation, China would strive to increase
Banker: World financial crisis does not change China's economic fundamentals2008-10-30 13:46:47
China's economy is robust enough and has enough capacity to cope with the world financial crisis, said Hu Xiaolian, deputy governor of the People's Bank of China, or the central bank. Hu made the remarks in a lecture held for the 11th National People's Congress Standing Committee on Tuesday. NPC Standing Committee Chairman Wu Bangguo and the committee's vice-chairmen attended the lecture. Hu said
Economy can be steered toward soft landing2008-10-30 13:45:13
China still enjoys a generally smooth economic development even as the international financial tsunami continues to engulf the whole world and its aftermath is yet to unfold.Since July last year, the country has been plagued by rising inflation because of an overheated economy, with the CPI increasing to 8.7 percent in February year-on-year. To bring the intractable inflation under control, the ce
Economic prospect complicated by world slowdown2008-10-28 10:23:58
China's economy was on sound track but prospects were complicated by the world economic slowdown, said Zhou Xiaochuan, governor of China's central bank, on Sunday. In a report Zhou made to the fifth session of the Standing Committee of the 11th National People's Congress (NPC), he said the country's economy was developing as expected, but the world economic slowdown added uncertainties to its pros
Hu calls for 'long-term vision'2008-10-28 10:20:48
The world's two most populous countries should have a "far-sighted, strategic and long-term perspective" in their joint effort to overcome the global financial crisis, President Hu Jintao told Indian Prime Minister Manmohan Singh on Saturday.　　"China and India are major developing nations and developing good-neighborly relations has been a consistent policy of the Chinese government

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