Online Shopping Hits RMB16.2 bn
Online shoppers in China spent RMB16.2 bn in the first five months of 2008, according to statistics issued by the China Internet Network Information Centre. The centre surveyed shoppers in 19 cities and Taobao.com was China's top online retailer, followed by Dangdang.com and Amazon's subsidiary Joyo.com.
China and U.S. Sign Deals Worth USD13.6 bn
Good business news always precedes high-level meetings between Chinese and American politicians, and now is no exception. The two countries have officially announced trade deals reputed to be worth USD13.6 bn. General Motors, Texas Instruments, Cisco, Ford, IBM, Oracle and Motorola have agreed to invest more than USD8 bn in China. Companies from the two countries also signed a USD5.32 bn contract for the purchase of soybeans, chemicals, telecoms and electro-mechanical products.
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