China may broaden restrictions on foreign investment in the oilseed processing sector to other crops, commented by He Yanli, deputy director of industries at the National Development and Reform Commission. He also suggested restricting imports of soybeans, describing the current 3% tariff on imported soybeans as “too low.” China is concerned about the growing presence [...]
Xin Chunying, deputy director of the legislative affairs commission of the National People’s Congress Standing Committee, said yesterday that China’s controversial Labor Contract Law is not to blame for widespread failures of small and medium-sized exporters in coastal regions, as entrepreneurs have claimed, and will therefore not be revised. “[We] will not amend the law [...]
China is preparing for a wave of bond sales by local governments, as the economic slowdown pushes officials to overhaul a system that has left cities and provinces chronically strapped for cash. Lawmakers have discussed a plan for local-government bonds, and analysts expect it to be finalized at March’s annual legislative session. The tentative plan [...]
China will use its foreign exchange reserves to boost imports and domestic demand as part of its efforts to check the economic slowdown, according to the State Administration of Foreign Exchange (SAFE). Fang Shangpu, deputy director of SAFE, also said further measures would be introduced to help Chinese firms to expand overseas. Fang’s remarks appear [...]
According to a survey of 150 rural villages across the country, Chen Xiwen, deputy director of the office of the State Council’s leading group on economic and financial affairs and charged with responsibility for rural issues, said that 20 million (15.4%) of the mainland’s 130 million migrant workers are out of work on Monday. The [...]
China’s steel industry expects a surplus of iron ore and falling prices in the global market next year, as the global economic crisis slows economic growth and orders from steel makers. “It’s clear where iron ore prices will be going,” said Liang Shuhe, deputy director of foreign trade at the Ministry of Commerce, at a [...]
