BUSINESS >> Economy

Coal-rich Shanxi continues to cut overcapacity, close mines

North China's Shanxi Province shut down 36 coal mines in 2018, cutting 23.3 million tonnes of production capacity, according to local authorities.
Source: Xinhua | 2018/12/15 13:42:21

China approves projects worth 3.5 bln USD in November

China's top economic planner approved 13 fixed-asset investment projects in November with a combined investment of 24.2 billion yuan (about 3.5 billion US dollars), latest data showed.
Source: Xinhua | 2018/12/15 10:13:32

China's commercial banks' net profits to grow 7.1 pct in 2018: report

China's commercial banks will post sound performance in 2018, with their combined net profits likely to grow 7.1 percent year on year, the Bank of Communications forecast.
Source: Xinhua | 2018/12/15 10:13:03

Chinese steelmaker to build 4.4 bln USD integrated steel plant in southern Philippines

Chinese firms Hebei Iron & Steel Group (HBIS Group) signed a memorandum of understanding (MOU) on Friday with Philippine Steel Asia Manufacturing Corporation to develop an integrated iron and steel plant costing 4.4 billion US dollars in the southern Philippines.
Source: Xinhua | 2018/12/15 9:44:18

African Development Bank loans Morocco 96.6 mln USD to boost employment

The African Development Bank (AfDB) Group has approved a loan of 96.6 million US dollars for the implementation of a program aimed at improving employment in Morocco, a financial daily reported Friday.
Source: Xinhua | 2018/12/15 9:40:45

Ford applauds China's move to suspend tariff hikes on US autos

Major US automaker Ford on Friday welcomed China's announcement to suspend tariff hikes on US vehicles and auto parts, urging the two largest economies to open markets to each other.
Source: Xinhua | 2018/12/15 9:39:24

Number of US active drilling rigs decreases this week

The number of active drilling rigs in the United States decreased by four to 1,071 this week, or 141 more than that this time last year, showed weekly data released by Baker Hughes on Friday.
Source: Xinhua | 2018/12/15 9:24:57

China's economic activity remains stable, growth target attainable

With 2018 coming to an end, China's economic activity has maintained steady expansion against the backdrop of downward pressures, making its full-year growth target fully attainable.
Source: Xinhua | 2018/12/14 19:35:33

China's retail sales show stable growth in November

China's retail sales of consumer goods have continued to see stable growth last month with robust online shopping, according to official data.
Source: Xinhua | 2018/12/14 15:14:33

Improving export demand boosts US wheat, but not soybeans: CBOT

Chicago Board of Trade (CBOT) wheat futures surged on Thursday for the second consecutive session amid improving export demand, while newly reported soybean sales to China failed to boost the oil seed prices.
Source: Xinhua | 2018/12/14 13:32:35

ADB approves 200 mln USD loan to fund green development project in southwest China

The Asian Development Bank (ADB) has approved a 200 million US dollars loan for an inclusive green development project in Ziyang city in the southwestern Chinese province of Sichuan.
Source: Xinhua | 2018/12/14 13:29:52

China's fiscal revenue up 6.5 pct in Jan-Nov

China's fiscal revenue rose 6.5 percent year-on-year to 17.23 trillion yuan (about 2.5 trillion US dollars) in the first 11 months of 2018, official data showed.
Source: Xinhua | 2018/12/14 13:20:45

China's fixed-asset investment picks up pace

China's fixed-asset investment (FAI) has picked up pace for a third straight month, official data showed, an encouraging sign amid increasing downward pressures on the wider economy.
Source: Xinhua | 2018/12/14 13:19:57

China, EU solve poultry tariff disputes under WTO framework

China commended the dispute settlement mechanism of the World Trade Organization (WTO) for its important role in safeguarding the rights and interests of WTO members and maintaining international trade order, a spokesperson with the Ministry of Commerce said Thursday.
Source: Xinhua | 2018/12/14 13:05:27

Trips made by China-Europe freight trains surge in 2018

China-Europe freight trains made 5,611 trips in the first 11 months of 2018, surging 72 percent compared with the same period last year, according to a meeting held in southwest China's Sichuan Province.
Source: Xinhua | 2018/12/14 12:02:49

China faces more trade remedy investigations this year

Twenty-eight countries and regions have initiated 101 trade remedy investigations against Chinese products from January to November, up 38 percent from the same period of last year, a spokesperson with the Ministry of Commerce said Thursday.
Source: Xinhua | 2018/12/14 8:38:46

YouTube purges 1.67 million channels for spam or misleading content last quarter

Google-owned YouTube has removed about 1.67 million channels for problematic videos, spam, scams or other misleading content in the previous quarter, the company said in its latest transparency report on Thursday.
Source: Xinhua | 2018/12/14 8:36:26

India mistaken in blocking Chinese e-commerce

Indian consumers are buying Chinese products via e-commerce platforms out of their own choice, and unreasonable limits on these purchases will bring costs up for India's consumers and hinder its newly emerging economy, experts told the Global Times Thursday.
Source: Global Times | 2018/12/13 23:34:50