Business News

New Year's retail sales open with a bang (China Daily) Updated: 2009-01-05 07:41 Retail sales on the first three days of 2009 rose 13 percent year-on-year, showing the government's efforts to spur domestic demand to prevent an economic slowdown are yielding results.

Gasfield not in disputed waters By Wu Jiao (China Daily) Updated: 2009-01-05 07:37 China's exploration of a gasfield in the East China Sea is its inherent sovereign right as the area does not fall in disputed waters, foreign ministry spokesman Qin Gang said on Sunday.

Millions are homeward bound early By Wang Qian and Wang Hongyi (China Daily) Updated: 2009-01-05 07:42 Railway stations across the country have been encountering an early travel rush as thousands of migrant workers return home for Spring Festival holiday.

Fiscal revenue to exceed 6 trillion yuan (Xinhua) Updated: 2009-01-05 16:39 China's 2008 fiscal revenue is expected to exceed 6 trillion yuan ($857 billion), Finance Minister Xie Xuren told a national conference on Monday.

Major websites found spreading porn By Wang Xing (chinadaily.com.cn) Updated: 2009-01-05 16:31 A Chinese industry organization has listed a group of websites, including Google, Baidu, Sina.com and Sohu.com, which have been found to spread pornography and threaten youth's morals, and could tighten regulations on these websites.

Economists predict hard times in 2009 (Xinhua) Updated: 2009-01-05 16:18 Unemployment driven by the global financial crisis could cause social unrest in China, although the economy looks set to reach its annual growth target of 8 percent, according to a survey of leading Chinese economists.

China's electronics trade slows By Wang Xing (chinadaily.com.cn) Updated: 2009-01-05 15:43 China's imports and exports of electronic products grew to $824.2 billion in the first 11 months of 2008, a 13.3 percent rise from a year earlier, down 10 percentage points from the growth rate of the same period in 2007, official figures showed.

China's e-commerce saw 20-percent jump By Tong Hao (chinadaily.com.cn) Updated: 2009-01-05 14:46 China's e-business trade volume in 2008 witnessed a year-on-year increase of 20 percent despite a gloomy economic environment, said market research firm IDC.

Funds raised by IPOs to reach 152b yuan in 2009 By Hu Yuanyuan (chinadaily.com.cn) Updated: 2009-01-05 14:18 The total funds raised through initial public offerings (IPOs) in China will reach 152 billion yuan ($22.19 billion) in 2009 as firms expect the IPO market to stabilize and pick up in the second half of this year, said a report from PricewaterhouseCoopers today.

Chinese stock index up 3.29% (Xinhua) Updated: 2009-01-05 16:36 Chinese shares soared more than 3 percent in the first trading day of the new year, upon rises on peripheral markets and expectations for positive effect of the government's macroeconomic control efforts.

Yuan slips against dollar on first trading day of 2009 (Xinhua) Updated: 2009-01-05 14:47 China's currency, the yuan, weakened slightly against the US dollar on Monday, the first trading day of 2009, according to the People's Bank of China, the country's central bank.

Chinese shares rise on first trading day of 2009 (Xinhua) Updated: 2009-01-05 11:04 Chinese shares opened higher on the first trading day of 2009, with the benchmark Shanghai Composite Index, which covers both A and B shares, gaining 1.55 percent to 1,849.02 at the opening.

From Beijing, trips home begin early By Lan Tian (China Daily) Updated: 2009-01-03 07:56 Millions of people started setting home on long journeys on Friday from Beijing as the city kicked off its Spring Festival travel season early.

Additional stimulus in the pipeline (China Daily) Updated: 2009-01-03 07:56 The nation's economic stimulus measures will go beyond the announced 4-trillion-yuan package as more industry-specific policies are rolled out, Premier Wen Jiabao said on Friday.

No major misuse of quake relief funds By Hu Yinan (China Daily) Updated: 2009-01-03 07:56 Relief funds and supplies for survivors of last May's earthquake have by and large been well-managed and spent, the National Audit Office (NAO) has said.

Dairy firms text public, say sorry (China Daily) Updated: 2009-01-03 09:37 Troubled dairy producer Sanlu Group and 21 other dairy firms implicated in the tainted milk scandal, which sickened nearly 300,000 children in the country, apologized to the public via text messages on the first day of 2009.

Wen: Innovation can reduce crisis impact (Xinhua) Updated: 2009-01-03 11:00 Premier Wen Jiabao has urged Chinese companies to stress innovation to combat the impact of global economic turmoil.

Vintage oilfields output rises steadily (Xinhua) Updated: 2009-01-03 14:19 China's largest oil base Daqing Oilfield has fulfilled its production target by stabilizing its crude oil output above 40 million tonnes the past year although its reserve has been on the decline.

HK retail sales value up 1.1% in Nov (Xinhua) Updated: 2009-01-03 11:04 The value of total retail sales of Hong Kong in November, provisionally estimated at HK$20.5 billion ($2.65 billion), went up 1.1 percent over a year earlier, official figures released Friday indicated.

Urban workers may see more job losses (Xinhua) Updated: 2009-01-03 10:45 Cai Fang, a renowned labor expert in China, warns the country may see more job losses among urban workers in 2009 after millions of migrant workers became unemployed last year.

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