A recent report by the New Delhi-based industry trade group, the PHD Chamber of Commerce, reveals that China has replaced the United Arab Emirates as India's top trading partner, with Indian-Sino trade hitting $49.5 billion in the current fiscal year's first nine months. Referred to as "South-South" trade, this inter-regional trend among Asian countries reached $4.7 trillion in 2013, as noted in the United Nations Conference on Trade and Development (UNCTAD) Handbook of Statistics 2013. South-South trade accounts for more than 25 percent of total world exports.
China and India are both among the top trading countries in the world, with up to 35 countries identifying China as their main trading partner, and six countries naming India as their top trading partner. However, while the statistics look promising, analysts note that economic cooperation between the neighboring countries is marred by ongoing disputes, one of which revolves on an area along the Himalayan border that India calls Arunachal Pradesh, and China calls South Tibet. It was reported last week the Narendra Modi, the chief minister of Gujarat and potential candidate for India's next prime minister, referred to China's pursuit of ownership of this region as 'expansionist'.
According to China's Ministry of Commerce, 2013 statistics show that China has become the world’s top trader, with exports of $2.21 trillion and imports of $1.95 trillion. World markets remained largely unmoved by this news, with some analysts voicing their doubts about the accuracy of the numbers. China economist for Australia and New Zealand Banks noted that there may be speculative trade activities disguised as exports, a practice which the Chinese government has been attempting to clamp down on. Previous problems with China's statistics included exporters processing fake orders for tax purposes and capital inflows being presented as exports.
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China Expects Larger Budget DeficitWall Street Journal"We will take an active fiscal policy, appropriately expand the deficit and maintain a certain level of stimulus for the economy," the finance ministry said in its report on the budget at the opening of the annual session of parliament on Wednesday. It ...
Yahoo Finance (blog)Fear the dragon: China could be next global headwindYahoo Finance (blog)With respect to the Shanghai Chaori Solar debt issue, Yahoo Finance Editor-in-chief Aaron Task says, ?We know that [China has] had a massive binge of borrowing in that country, debt levels are getting out of control, what's on the bank balance sheet ...Chinese bondsThe EconomistChina Stock Index Rises as Developers Jump on Policy SpeculationBloombergChina allows landmark bond default by solar firmLondon South EastSunHerald.com -Telegraph.co.ukall 440 news articles »
International Business Times UKChina Finance Minister welcomes US policy withdrawal: XinhuaReutersBEIJING (Reuters) - Attempts by the Federal Reserve to dial back its super-loose monetary policy are good for China because it shows the world's largest economy is improving, China's Finance Minister was quoted as saying on Sunday. Lou Jiwei, in Sydney ...China Unaffected by US Stimulus Taper Says Finance Minister Lou JiweiInternational Business Times UKChina's Lou Turns Tables on U.S. Over Calls for Faster ChangeBloombergLou vs. Lew: US and China Trade Barbs Amid Fed Taper WorriesBusinessweekProactive Investors Australiaall 54 news articles »
Weekend Reads for Finance Pros: China, Retirement, and Investing MistakesCFA Institute Enterprising Investor (blog)This week's roundup of interesting bits of news and analysis comes to you via Hong Kong, where all eyes (and ears) were on the opening of China's annual session of parliament. One of the top stories to emerge was the government's announcement that it ...
- China Invests in Cleaning Up Pollution - Editor, Wednesday 19 February 2014
- China's Car Sales Continue to Soar - Editor, Wednesday 5 February 2014
- China-UK Bilateral Trade Sets New Record - Editor, Wednesday 22 January 2014
- Gaming Console Ban Lifted in Shanghai FTZ - Editor, Wednesday 8 January 2014
- ASEAN-China Trade and Investment Ties Strengthen - Editor, Wednesday 18 December 2013
- China to Lift IPO Moratorium - Editor, Wednesday 4 December 2013
- China-EU Summit: Green Growth in a Safer World - Editor, Wednesday 20 November 2013
A recent announcement by China's Ministry of Environment Protection that the government plans to invest 2 trillion yuan in the development of technologies to deal with the pollution of its main water resources is no doubt welcome news to environmentalists and those dependent on these resources for their daily water supply. The 2 trillion yuan budget for tackling the water pollution problem exceeds the 1.7 trillion yuan budgeted for dealing with the country's much-publicized air pollution issue. While the plan on how to deal with the water pollution problem is still to be finalized, the size of the budget allocated is seen as an indication of the level of commitment to making the project work.
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The Chinese ambassador to the United Kingdom, Liu Xiaoming, disclosed yesterday that China-UK bilateral trade surpassed US$70 billion in 2013, setting a record high. He also noted that the United Kingdom’s exports to China increased by 13.8 percent, stating that this is "much higher" than China's other European Union trade partners. Moreover, Liu revealed that over the past two years, Chinese investment in the United Kingdom reached US$13 bn, which is more than the total of the three decades previous to that. This increase is attributed to the consensus reached by the leaders of the two countries on expanding cooperation and bilateral trading relationships.
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One of the latest developments for the new Shanghai free trade zone is the lifting of a ban on foreign-made arcade and home entertainment gaming consoles imposed in 2000. For an unspecified trial period Chinese authorities are permitting the manufacture and sale of games consoles within the Shanghai free trade zone, while importing these entertainment systems remains restricted. The official statement announcing the decision noted that the relaxing of the rule was an "experiment" aimed at exploring the experience of reform.
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