Beijing

Global recession may drag China''s GDP down to seven pct in 2009

Global recession may drag China''s GDP down to seven pct in 2009New York/Beijing, Jan. 16 : China''s economic growth may fall to seven percent in the wake of a deepening global financial crisis, the UN has warned in a report.

It has also forecasted in its regional analysis that the Chinese economy can still maintain a high rate of 8.9 percent if the international community adopts united efforts as soon as possible.

Chinese Army not interested in engaging in an arms race

Chinese Army not interested in engaging in an arms raceBeijing, Jan. 16 : The People''s Liberation Army (PLA) will not engage in any arms race and its development does not pose a threat to any country, a senior military official has said.

The China Daily quoted Huang Xueping, deputy director-general of the Information Office of the Ministry of National Defense, as saying in an interview China was not building up its military power, or changing its defensive policy, or aiming to expand its military presence worldwide.

Foreign investment in China falls short of recent highs

Foreign investment in China falls short of recent highsBeijing - Foreign direct investment (FDI) into China showed signs of faltering in December, even as overall 2008 levels showed an increase over 2007, the official Xinhua news agency reported on Thursday.

December 2008 FDI fell 5.73 per cent compared to December 2007, but rose 12.3 per cent compared to November 2008.

It was the first month-on-month increase since July, coming after a 36.5-per-cent year-on-year decline in November.

Royal Bank of Scotland liquidating Bank of China stake

Royal Bank of Scotland liquidating Bank of China stake Beijing  - Cash-strapped Royal Bank of Scotland Plc is seeking to sell off its entire stake in Bank of China Ltd in hopes of raising 2.3 billion dollars, according to a report published Wednesday in China.

Shanghai Daily reported that Royal Bank of Scotland was seeking 1.68 Hong Kong dollars (22 US cents) per share for its 10.8 billion shares in Bank of China. The price would be more than 8 per cent below Bank of China's price at the close of Tuesday trading.

China screens 22.4 mln babies fed melamine-tainted milk

China FlagBeijing, Jan.

China launches drive to cut use of antibiotics

ChinaBeijing - China on Friday launched a campaign to curb the overuse of antibiotics and slow the development of drug-resistant bacteria.

The health ministry said the two-year programme will train some 45,000 health workers in the proper use of antibiotics, which many Chinese clinics and hospitals give in daily intravenous doses to patients with just a common cold.

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