China

China's yuan strengthens

China's yuan strengthensBeijing, May 30 - The Chinese yuan strengthened 10 basis points to 6.1695 against the US dollar in its central parity Friday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day, reported Xinhua.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (IANS)

China stock index futures open higher

China stock index futures open higherBeijing, May 29 - China's stock index futures opened higher Thursday with the contract for settlement in June, the most actively traded, opening 12.4 points higher at 2,175.4.

The contract for settlement in July went up 10 points to open at 2,163. The September contract opened 13 points higher at 2,170, and the December contract gained 10.8 points to open at 2,175, reported Xinhua.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a present value on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

Gold price opens lower in Hong Kong

Gold price opens lower in Hong KongHong Kong, May 29 - The gold price in Hong Kong went down 60 HK dollars to open at 11,660 HK dollars per tael Thursday, according to the Chinese Gold and Silver Exchange Society.

The price is equivalent to $1,262.92 a troy ounce, down $6.50 at the latest exchange rate of $1 against 7.75 HK dollars, reported Xinhua. (IANS)

China's yuan weakens

China's yuan weakensRio de Janeiro, May 29 - The head coach of Brazil's national football team has voiced praise for star striker Neymar who according to him has emerged a stronger and more mature player after his first season at Barcelona.

"Neymar is better now than during last year's Confederations Cup, when he led Brazil to victory by winning the Golden Ball for the tournament's best player. He has grown not only in the physical sense but also with more experience," Xinhua quoted Paulo Paixo as saying.

Paixao said, "We are going to see a player who is sure of himself, mature and conscious of what he needs to do."

China industrial profits go up

China industrial profits go upBeijing, May 28 - Chinese industrial businesses saw their profits rise by 10 percent year on year in the first four months of 2014, official data showed Wednesday.

Total profits of industrial companies with annual business revenue of more than 20 million yuan ($3.2 million) reached 1.76 trillion yuan from January to April, the National Bureau of Statistics said in a statement.

The profits growth remained almost the same compared with a 10.1-percent increase recorded in the first three months, reported Xinhua. (IANS)

Sony set to sell PSP4 in China

Sony PSP4Washington, May 27  : Sony has reportedly revealed plans to sell Playstation 4 Console in China.

However, the company would not be the only one to sell its next-generation gaming console in China. Microsoft had earlier disclosed information of selling its Xbox One in China as well.

According to Cnet, the launch announcement shares a similar modus operandi, a joint venture partnership with a local company to distribute the console, as well as management of the online services and software retail.

Chinese premier congratulates Modi

Li-KeqiangBeijing, May 26 : Chinese Premier Li Keqiang sent a message to Narendra Modi Monday to congratulate him on his assumption of the office of India's prime minister.

In the message, Li said China and India were important neighbours, as well as the two largest emerging-market countries in the world, Xinhua reported.

China-India relations had gone beyond the bilateral scope and were of global and strategic significance, he said, adding that his country had always taken the relationship as a priority of Chinese diplomacy.

Gold price opens higher in Hong Kong

Gold price opens higher in Hong KongHong Kong, May 23 - The gold price in Hong Kong went up 10 HK dollars to open at 12,000 HK dollars per tael Friday, according to the Chinese Gold and Silver Exchange Society.

The price is equivalent to $1,298.08 a troy ounce, up $1.08 at the latest exchange rate of $1 against 7.761 HK dollars. (IANS)

China's yuan weakens

China's yuan weakensBeijing, May 23 - The Chinese yuan weakened 23 basis points to 6.1681 against the US dollar in its central parity Friday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, reported Xinhua.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (IANS)

China says no to Windows 8

Windows-8Beijing, May 21 : In a major setback to Microsoft, China has banned purchase of Windows 8, the latest version of the US software giant's venerable desktop operating system, for government computers.

Microsoft may still sell Windows 8 in the country, but the Chinese government will no longer be a buyer, media reports said.

Concern over security led to the ban on Windows 8.

Microsoft recently ended support for Windows XP, which has about a 70 percent market-share in China.

This means that millions of computers are no longer getting security updates.

China-Vietnam trade to suffer if violence continues: China

China-Vietnam-TradeBeijing, May 20 : Trade between China and Vietnam will suffer if the violence targetting Chinese companies escalates in Vietnam, the Chinese government said Tuesday.

Zhang Ji, head of the Chinese ministry of commerce's foreign trade department, said recent incidents "have already caused enormous economic losses" and if this continues, it will not only hurt the Chinese people's sentiments but also the investors' confidence.

"Recent violent incidents will undoubtedly damage the bilateral trade, which China is unwilling to see, and will only be detrimental to the Vietnamese economy," Zhang added.

China summons US envoy over cyber theft episode

Max-BaucusBeijing, May 20 : China summoned US Ambassador Max Baucus over the American indictment of five Chinese military personnel allegedly for cyber espionage.

Chinese Assistant Foreign Minister Zheng Zeguang summoned Baucus Monday night and lodged a protest against the indictment, Xinhua reported citing the foreign ministry statement Tuesday.

The five Chinese military personnel were allegedly involved in cyber-espionage and hacking into American companies' computer networks to steal trade secrets.

Beijing should not rejoice over pollution data: Chinese daily

beijing-pollutionBeijing, May 15 : Though a WHO report has named India's capital New Delhi as the most polluted city in Asia, Beijing should not rejoice at being second, a leading Chinese daily said.

Even if Delhi holds the most polluted city tag, it would not make Beijing a fraction more attractive to international talent, or prevent the massive slide in tourism that has hit the city over the last two years after its grim grey skies made headlines worldwide, an article in the Global Times published Thursday said.

Gas deals expected during Putin's China visit

Gas deals expected during Putin's China visitBeijing, May 15 - Vice Foreign Minister Cheng Guoping said Thursday agreements on natural gas are expected to be signed between China and Russia during Russian President Vladimir Putin's visit to China.

Putin will visit China May 20 and attend the fourth summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Shanghai, reported Xinhua.

In the Feb 6 meeting at Sochi, Chinese President Xi Jinping and Putin reached important agreements on gas, and a vast majority of contracts.

China's private airline buys 50 Boeing aircraft

China's private airline buys 50 Boeing aircraftGuangzhou (China), May 15 - China's Jiuyuan Airlines signed a deal with the Boeing Company to purchase 50 aircraft worth more than $6 billion.

The deal, signed Wednesday, is the largest purchase ever by a private Chinese airline.

The aircraft are expected to begin operations by 2020, reported Xinhua.

Jiuyuan Airlines, based in Guangzhou, China, got approval from the Civil Aviation Administration of China in February and is expected to begin flights later this year. The budget carrier plans fares as low as $1.46.

China's power consumption rises

China's power consumption risesBeijing, May 15 - China's power consumption rose 5.2 percent in the first four months from a year earlier, official data showed Thursday.

In April alone, the power use, an indicator of economic activity, gained 4.6 percent from a year ago, but was much lower than the 7.2 percent in March, Xinhua quoted the National Energy Administration as saying.

In the first four months, electricity use by the primary industry dropped 4.9 percent year-on-year to 25.4 billion kwh (kilowatt hour).

Police complete probe into GSK bribery in China

GlaxoSmithKlineBeijing, May 14 : The probe into bribery by GlaxoSmithKline (GSK) in China is complete and the case has been handed over to prosecutors, police said Wednesday.

Prosecutors have started their examination of the case that involves 46 suspects, including British national Mark Reilly, manager of GSK China, Xinhua reported.

After 10 months of investigation, police found that Reilly had ordered his subordinates to offer bribes.

Reilly allegedly pressed his sales teams to bribe hospitals, doctors, other medical institutions and organisations through various means and gained illegal revenue worth billions.

China's yuan weakens

China's yuan weakensBeijing, May 13 - The Chinese yuan weakened 11 points to 6.1636 against the US dollar in its central parity Tuesday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, reported Xinhua.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (IANS)

Modi in power could bring India, China closer: Chinese daily

Modi in power could bring India, China closer: Chinese dailyBeijing, May 7 - If BJP prime ministerial candidate Narendra Modi comes to power, it could bring India and China closer, says an influential state-run Chinese daily.

The Global Times in a write up says that Modi was once a "practical businessman". After he became chief minister of Gujarat he established good relations with China.

Gold price opens lower in Hong Kong

Gold price opens lower in Hong KongHong Kong, April 29 - The gold price in Hong Kong went down 46 HK dollars to open at 12,020 HK dollars per tael Tuesday, according to the Chinese Gold and Silver Exchange Society.

The price is equivalent to $1,301.91 a troy ounce, down $4.98 at the latest exchange rate of $1 against 7.75 HK dollars. (IANS)




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