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.
BBC NewsChina's 7.5 percent GDP growth target is flexible: finance ministerReutersBEIJING (Reuters) - It is all right for China to slightly miss the government's 7.5 percent economic growth target this year as long as enough jobs are created, the finance minister said on Thursday, stressing that a healthy labor market is more important.China's finance minister says priority is jobs, growth might be lower than 7.5 ...Minneapolis Star TribuneChina finance minister downplays GDP target, stresses employmentGlobal TimesChina's growth target flexible: finance ministerABS CBN NewsSouth China Morning Postall 1,386 news articles »
The West AustralianChina needs to curb risks posed by booming online finance: former ICBC presidentReutersN) kickstarted China's online finance industry with the high-yield Yu'e Bao money market fund, which has attracted 400 billion yuan in assets under management in less than eight months, more than the customer deposits held by the five smallest listed ...Baidu-led partnership applies for China banking licenseChicago TribuneXinhua Insight: Internet finance gets boost from gov't supportXinhuaall 85 news articles »
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 ...
International Business Times UKChina Sees Expansion Outweighing Yuan, Shadow Bank RiskBloombergChina's Finance Minister Lou Jiwei played down yuan declines and the risks from shadow banking as central bank Governor Zhou Xiaochuan signaled that the nation's economy can sustain growth of between 7 percent and 8 percent. Expansion prospects ...China Unaffected by US Stimulus Taper Says Finance Minister Lou JiweiInternational Business Times UKLou vs. Lew: US and China Trade Barbs Amid Fed Taper WorriesBusinessweekChina Finance Minister welcomes U.S. policy withdrawal: XinhuaGlobalPostall 54 news articles »
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 ...
Wall Street Journal (blog)Finance Minister: Divorce-Inducing Property Tax Is 'Defective'Wall Street Journal (blog)China's finance minister has a reputation for telling things as they are. He was in character on Thursday when he described as ?defective? the nation's capital-gains tax on profits from home sales?a policy that has shaken the property market and led ...
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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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