Inflation Continues Upward Trend
China's latest consumer price index rose to 7.1 per cent, according to
figures published by the National Bureau of Statistics. This is the
highest figure since 1997. The government continues to blame food costs
for the unchecked inflation rate, particularly meat and egg prices
which have increased by double digit levels during recent months.
Energy and transportation are other sectors blamed for adding upward
price pressures.
Chinese Trade Surplus Up 22 Per Cent
China's trade surplus in
January increased 22.6 per cent year-on-year to USD19.49bn, according
to the General Administration of Customs. Since May last year, China's
trade surplus has risen above the USD20bn mark, and last December hit
USD22.69bn. However, the export growth rate declined by 6.2 per cent
in the first month of 2008, with goods and services worth USD109.66bn
leaving the country.
Three Chinese Banks in Financial Magazine's Global Top 25
The Banker's Magazine Top 500 Financial Brands has listed ICBC (15th),
China Construction Bank (17th) and Bank of China (22nd) on its annual
global ranking. HSBC took the top spot first, ousting Citibank, now
ranked second, with Bank of America in third.
Macau Retail Sales Jump 33 Per Cent
The total vlaue of retail
sales in Macau grew by 33 per cent, to MOP14.2bn (USD1.8 bn), in 2007,
according to official statistics. Notable increases were in sales of
watches, clocks and jewellery, which were up by 54 per cent, as
gamblers in the city spent their winnings in the scores of new luxury
retail outlets opening across Macau. Sales of motor vehicles rose by 30
per cent.
NBC to Provide Chinese-language Olympic Broadcasts
This summer's Beijing Olympics will be broadcast in Chinese for the
first time ever in the United States. NBC is teaming up with
Multicultural Radio Broadcastings Inc. to co-produce the coverage for
team events, such as football, baseball and basketball, and will offer
daily highlights in Korean, Mandarin and Cantonese.
Seattle-Beijing & Abu Dhabi-Beijing Flights Launched
Hainan Airlines will launch direct flights between Beijing and Seattle
from 9 June, becoming the first Chinese airline to announce a new
U.S.-China route since last July's aviation protocol was signed between
the two nations. Meanwhile, Etihad Airlines has announced a new
four-weekly flight service between Abu Dhabi and Beijing from 31 March.
Last update : Sunday, 24 February 2008
|
|
|
News & Interviews 
(0 vote)
