Japan and China squared off over the wage rates paid by Japanese companies in China at a recent economic forum. Premier Wen Jiabao told the Japanese delegation to the meeting that Japanese companies should pay higher salaries to their Chinese workers. Earlier, Japanese Foreign Minister Katsuya Okada called for “transparent policies” governing workers in China, [...]
China’s central bank said on Thursday that the nation’s rapid economic growth would gradually level off, and that it faces challenges on how to manage the economy. The People’s Bank of China (PBoC) noted its dilemma of managing macroeconomic control policies, referring to measures implemented to rein in property prices and to curb bank lending, [...]
Hu Jintao and Wen Jiabao reiterated that current macroeconomic policies would continue into the second half of 2010. Hu said that the current policies, frequently described by the state media as “pro-active fiscal policy and moderately loose monetary policy,” should continue to support the recovering economy. Wen said that the government would “improve” stimulus plans [...]
German Chancellor Angela Merkel’s recent visit to China has paid off in billions of dollars in deals for trucks and power equipment in China. Notable contracts include a $3.5 billion deal between Siemens AG and Shanghai Electric Power Generation Equipment to develop gas and steam turbines, and a $936 million joint venture between Daimler AG [...]
China is looking to expand its resources tax reform from Xinjiang to all 12 western provinces. Premier Wen Jiabao said the resource tax on coal, crude oil and natural gas will be changed from volume to price-based in western regions. He also said Beijing would continue a 15% corporate income tax on companies based in [...]
China’s economic policies “face increasing dilemmas” because the impact of the global financial crisis is more serious than expected, said Premier Wen Jiabao. Wen said China will carry on with its current economic policies but will increase their flexibility to “solve current significant and urgent problems.” He said China will maintain policy continuity to ensure [...]
Premier Wen Jiabao announced on Wednesday that China will maintain economic policies that many analysts believe will lead to slower growth as the property market cools. In a meeting with scholars and business people, Wen said: “China’s economic is is currently developing in the direction envisaged by the macroeconomic adjustment and control policies.” That includes last [...]
China agreed to lend Mongolia $500 million to develop the country’s mining, infrastructure and finance sectors. Chinese Premier Wen Jiabao signed a total of nine agreements with Mongolian Prime Minister Sukhbaatar Batbold during his stop in the landlocked country, part of his four-nation Asian tour. Other agreements included a preliminary plan between China’s National Nuclear [...]
Japan and China have agreed to launch formal negotiations on a long-standing territorial dispute over gas field development in the East China Sea. Japanese Prime Minister Yukio Hatoyama and visiting Chinese Premier Wen Jiabao also agreed to establish a diplomatic hotline between the countries. However, the two sides failed to agree on a common approach [...]
China told delegates at the International Cooperative Conference on Green Economy and Climate Change that it will “step up” investment to fight climate change. China’s science and technology minister, Wan Gang, said at the Beijing conference that the government will make investments to provide technical support for combating climate change, use price reforms to conserve [...]
