China

Quake impact pushes down Chinese shares

Chinese-sharesBeijing, April 22 : Chinese shares saw slight losses Monday, as Saturday's quake in southwest China's Sichuan province weighed on the markets.

The benchmark Shanghai Composite Index moved down 0.11 percent, or 2.47 points, to end at 2,242.17, and the Shenzhen Component Index shed 0.59 percent, or 53.57 points, to 9,057.62, reported Xinhua.

A 7.0-magnitude earthquake jolted Lushan county of Sichuan's Ya'an city Saturday.

Shares of insurance companies generally fell Monday, as investors feared payouts on quake-related losses would hurt their profits.

160 dead, 6,700 injured in China earthquake

160 dead, 6,700 injured in China earthquakeBeijing, April 21 - A staggering 160 people have been killed and over 6,700 injured in the earthquake, which hit China's Sichuan province Saturday morning, measuring 7.0 on the Richter scale, reported Xinhua citing authorities.

Chinese Premier Li Keqiang visited the temblor's epicentre in the province during afternoon by helicopter and directed not to waste time to save lives.

Li visited hospitals, tents and climbed on a heap of ruin to see the disaster situation, expressed condolences to the victims and the survivors, and guided the rescue and relief work on site.

71 killed, over 1,000 injured in China quake

China-quakeBeijing, April 20 : At least 71 people were killed and more than 1,000 others injured Saturday when a massive earthquake measuring 7.0 on the Richter scale struck southwest China's Sichuan province, officials said.

The earthquake hit Lushan county of Ya'an city at 8.02 a. m., Xinhua cited the China Earthquake Networks Center (CENC) as saying.

More than 1,000 people were injured in the earthquake, the Lushan county publicity department said. Among those injured, 135 are in serious condition.

Firefighters pulled out 27 survivors from collapsed structures in Lushan, the ministry of public security said.

Fund Liquidation Weighs by KediaCommodity

Liquidation came from all quarters, including exchange-traded funds, speculators and even physical bullion owners in China and India, the world's largest bullion markets. Investors cut exposure to gold, with total holdings at the world's major bullion gold-backed exchange-traded-funds falling to their lowest since early 2012.

Traders also cited liquidation by prominent hedge funds in gold exchange traded funds, especially the SPDR Gold Trust, which was one of the most-active trading U. S. stocks. The gold ETF posted a record monthly outflow in February. Paulson & Co, run by billionaire financier John Paulson and by far the biggest shareholder in SPDR Gold, told clients earlier this month its gold fund suffered double-digit losses during the first quarter.

Tomb of despised Chinese emperor found

Emperor-Yang-GuangBeijing, April 18 : The tomb of one of China's most loathed rulers was discovered by chance over the weekend at a construction site.

The find was made Sunday by workers at a building under construction in the eastern city of Yangzhou, where Emperor Yang Guang (A. D. 569-618) spent his final days, having sought refuge in the city from a popular uprising only to be strangled by one of his generals.

Though the mausoleum is in poor condition, the inscriptions on the tombstone and the presence of some objects that were of exclusive use by emperors leave no doubt it is Yang's burial place.

Chinese economy grew 7.7% during first three months

Chinese economy grew 7.7% during first three monthsAccording to the latest data released by the government, the Chinese economy grew by just 7.7 per cent during the first three months of the year.

Even as the rate of 7.7 per cent is high higher than that recorded in advanced western economies, it is much lower than the growth expected by Chinese leaders and analysts for the emerging economy. The country's Gross domestic Product had risen 7.9 per cent during the previous three months. Analysts were expected the economy to grow at 8 per cent in a poll conducted by Reuters.

Russia gears up for China bird flu

bird-fluBeijing, April 15 : Russia is preparing to enhance sanitary control measures in case the bird flu situation in China deteriorates.

"The World Health Organisation (WHO) has not yet given recommendations for quarantine, and we are not introducing prohibitive measures now, but simply paying increased attention [to the issue]," Russia's chief sanitary doctor Gennady Onishchenko said Sunday.

"But if the process spreads, we will enhance the appropriate measures in this situation."

China reported 11 fresh cases of infection of H7N9 avian flu Sunday, bringing the total number of reported cases to 60.

H7N9 wipes 10 billion yuan in business

H7N9Beijing, April 15 : China's poultry industry is feeling the pain from climbing H7N9 fears, with industry losses amounting to 10 billion yuan ($1.62 billion) in just one week, People's Daily said Monday.

This is only direct losses, and the real impact of the disease will be far more than that, Ma Chuang at the Chinese Association of Animal Science and Veterinary Medicine was quoted as saying.

Many consumers have been reluctant to eat poultry since the H7N9 avian influenza outbreak started in late March.

Some restaurants have stopped offering poultry dishes - leading to a major decline in both poultry prices and consumption.

China’s currency remains significantly undervalued, US

China’s currency remains significantly undervalued, USThe US government has just stopped short of calling China a currency manipulator and only said that the Chinese national currency remains significantly undervalued compared to the US dollar and other currencies.

The bi-annual Treasury report includes details of the nations that the US government accuses of manipulating currencies in order to gain unfair advantages against other countries. The report said that the Chinese authorities have allowed its currency to rise 10 per cent against the dollar since June 2010 and larger when inflation is considered.

Penalty sends Webber to back of grid

Mark-WebberShanghai, April 13 : Red Bull's Formula 1 driver Mark Webber will start Sunday's Chinese Grand Prix at the Shanghai International Circuit from the back of the grid after the stewards found that he did not have enough fuel in his car for the mandatory one-litre post-qualifying sample.

The Australian had initially qualified in 14th after being told over the radio by his team to park his car midway through Q2. Red Bull later confirmed that the stoppage was caused by a fuel bowser problem that led to 3 kg of fuel not being delivered to Webber's RB9.

Force Indias to start 11th, 13th

Force-IndiaShanghai, April 13 : The two Force India cars will start 11th and 13th at Sunday's Chinese Grand Prix after failing to qualify for Q3 here at the Shanghai International Circuit Saturday.

After easily making it into Q2, Paul di Resta and Adrian Sutil clocked 1:36.287 and 1:36.405, respectively. Britain's di Resta had made it into the top-10 when he crossed the finish line in Q2 but other drivers pushed him out after completing their flying laps.

Di Resta seemed pleased with his result considering the difficulties during practice.

Chinese GP: Massa quickest in second practice

Felipe-MassaShanghai, April 12 : Ferrari's Felipe Massa set the pace in the second practice session at the Formula 1 Chinese Grand Prix here Friday.

With tyre degradation again looking high, the Brazilian took advantage of a short run on soft tyres to set the best time of one minute, 35.340 seconds.

Kimi Raikkonen was second fastest for Lotus in 1:35.492, while Massa's teammate Fernando Alonso third at 1:35.755.

Nico Rosberg, who set the fastest time for Mercedes in the first practice earlier Friday, was fourth in 1:35.819. Red Bull Racing's Mark Webber came fifth in 1:36.092 while his teammate Sebastian Vettel was 10th quickest with

Team orders need to be respected, say Force India drivers

Adrian-Sutil-Paul-di-RestaShanghai, April 11 : Force India drivers Adrian Sutil and Paul di Resta are fine with team orders in Formula 1.

Their comments come after Red Bull's Sebastian Vettel ignored team orders and overtook teammate Mark Webber to win the Malaysian Grand Prix March 24. The incident resulted in a big controversy with some raising questions on Vettel's act of defiance.

McLaren enter partnership with Gillette

Mclaren-GilletteShanghai, April 11 : McLaren Mercedes and Gillette, the world's leading men's shaving and lifestyle brand, have agreed on a marketing partnership that will kick off at this weekend's Formual 1 Chinese Grand Prix here.

McLaren Mercedes team principal Martin Whitmarsh said: "As one of the most successful teams in Formula 1, McLaren has a long history of attracting and partnering with the world's top brands.

Chinese lab reveals H7N9 source

H7N9Beijing, April 10 : A top Chinese biology lab Wednesday ascribed the H7N9 avian influenza to genetic reassortment of wild birds from east Asia and chickens from east China.

The researchers found that no genes in H7N9 were traceable to pigs, thus excluding pigs as intermediate hosts for the deadly new strain of bird flu, reports Xinhua.

The report came from the Chinese Academy of Sciences' Key Laboratory of Pathogenic Microbiology and Immunology.

A fresh outbreak of bird flu in China has killed nine people.(IANS)

Chinese inflation falls to 2.1% in March

Chinese inflation falls to 2.1% in MarchAccording to the latest data released, the consumer inflation in China slowed significantly to just 2.1 per cent during the month of March.

China's consumer price index, which measures the prices paid by the consumers for goods and services in the country, rose 2.1 per cent in March compared to the same month of the previous year, according to the data released by the National Bureau of Statistics of China on Tuesday.

The consumer price index was recorded at 3.2 per cent during the month of February in the world's second largest economy.

China's producer price index falls

China-inflationBeijing, April 9 : China's producer price index (PPI), which measures wholesale inflation, fell 1.9 percent year on year in March, the National Bureau of Statistics said Tuesday.

The drop, the 13th straight month of decline, widened from the 1.6-percent annual fall seen in February, suggesting continued weak market demand, reported Xinhua.

Month on month, producer prices in March remained unchanged following a 0.2-percent rise logged in both January and February, a sign of muted inflationary pressure at the factory gates.

Force India say wheel nut issue fixed

Force-IndiaShanghai, April 8 : Sahara Force India team principal Vijay Mallya Monday said his team has overcome the wheel nut issue ahead of the Formula 1 Chinese Grand Prix this weekend.

Wheel nut problem in both Force India cars during the Malaysia round caused the team's first double-retirement since Japan 2010.

It was a disappointing result for the Silverstone outfit which showed good pace in qualifying to go with its best ever start to a season in Melbourne.

China's logistics sector rebounds

logistics-sectorBeijing, April 8 : The performance of China's logistics industry rebounded in March after declining for three consecutive months, according to an index released Monday.

The China Federation of Logistics and Purchasing said in a statement that the Logistics Performance Index (LPI) for March rose 5.5 percentage points from the previous month to 55.9 percent, reported Xinhua.

A reading above 50 percent indicates expansion from the previous month, while below 50 percent indicates contraction.

"The declines in January and February were mainly due to seasonal factors," the statement said.

China to sustain relatively high growth: Xi

Xi-JinpingBoao (China), April 8 : Chinese President Xi Jinping Monday said the country will sustain "relatively high" economic growth.

China's development is generally in good shape and the country will go upward for quite a long time, said Xi while meeting representatives of about 30 well-known enterprises from China and overseas at the ongoing Boao Forum for Asia (BFA) Annual Conference 2013, reported Xinhua.

"With our efforts, China will sustain relatively high economic growth, but not super high economic growth. It is not necessary as well," he said.

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