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Obama to Create Export Promotion Cabinet to Promote Trade

BOCVIP — Fri, 12 Mar 2010 01:51:33 -0800

Obama ordered the creation of an "export promotion cabinet" in an effort to promote U.S. exports yesterday

Obama ordered the creation of an "export promotion cabinet" in an effort to promote U.S. exports yesterday, Xinhua reported.

Brazil Economic Growth Will be Better than 5.7 Pct

BOCVIP — Fri, 12 Mar 2010 00:05:16 -0800

The Brazilian government has raised its projection for economic growth this year from 5.2 percent to more than 5.7 percent

Brazil will see a quick economic growth projected to 5.7 percent this year, Finance Minister Guido Mantega told a press conference on March 11, Xinhua reported.

White Energy enters coal deal with China Guodian Group

BOCVIP — Fri, 12 Mar 2010 00:51:54 -0800

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading facility in China.

Guodian is a part of the China Guodian Group, one of the leading integrated players in the Chinese coal mining and power generation sector with 70,250 MW of installed thermal power and a controllable coal resource of 15 billion tons with annual coal production of 25 million tonnes.

The group is one of the five largest power producers in China.

Geithner Warns EU Over Hedge Fund Regulation Rules

BOCVIP — Thu, 11 Mar 2010 21:59:36 -0800

U.S. Treasury Secretary Timothy Geithner has warned the EC over its proposal to tighten regulations on hedge funds through legislation

U.S. Treasury Secretary Timothy Geithner has warned the European Commission (EC) over its proposal to tighten regulations on hedge funds through legislation in a letter to the European Union (EU) official, a spokesman from EC confirmed the saying on March 11, Xinhuanet reported.

China Consumer Retail Sales Up 17.9 Pct

BOCVIP — Thu, 11 Mar 2010 18:46:42 -0800

China's retail sales increased by 17.9 percent in January and February year on year, and totaled 2,505.2 billion yuan

China's retail sales increased by 17.9 percent in January and February over the same period last year, and totaled 2,505.2 billion yuan, the National Bureau of Statistics announced on Tuesday.

The increase was up 2.7 percent year on year and 2.4 percentage points higher than that of 2009.

China's CPI Gains to Slow in Mar., Official Says

BOCVIP — Thu, 11 Mar 2010 02:15:48 -0800

China's CPI rose by 2.7 percent in Feb. from a year earlierï¼Official says the CPI will slow in Mar. as seasonal factors fade

China's consumer price index (CPI) rose by 2.7 percent in Feb. from a year earlier, up from January's 1.5 percent increase, the National Bureau of Statistics announced on Mar.11. Regarding that, bureau spokesman Sheng Laiyun said the rise in Feb. was partly attributable to structural and seasonal factors, especially to the Lunar New Year holiday.

JP Morgan Said to Form China Banking Venture with First Capital

BOCVIP — Thu, 11 Mar 2010 01:06:05 -0800

JP Morgan has signed a memorandum of understanding with First Capital Securities Co., recently, planning to set up a securities joint venture in China in 2010.

Before JP Morgan, Goldman Sachs Group Inc., UBS AG and other investment banks have already been operating joint ventures in China.

Geely Obtained 2.1 Billion U.S.Dollars for Volvo Purchase

BOCVIP — Wed, 10 Mar 2010 23:56:49 -0800

Geely has secured financing to buy Ford-owned Volvo cars for about 2.10 billion U.S. dollars

Complied by Caijing staff

Zhejiang Geely Holding, the Chinese carmaker has obtained 2.1 billion U.S. dollars in financing and will conclude the deal with Ford to buy its Swedish unit Volvo at the end of Mar. It will be the largest purchase by a Chinese car firm if completed, according to Xinhua News Agency.

Executive Pay at Chinese Banks to be Tied to Risk Management Performance

BOCVIP — Wed, 10 Mar 2010 20:08:19 -0800

News, page 5, March 8, Issue 459
Translated by Tang Xiangyang
Original article: [Chinese]

China Launches Second Round of Taxation Inspections in Bid to Boost Revenue

BOCVIP — Wed, 10 Mar 2010 20:08:19 -0800

News, Cover, Issue 459, March 8, 2010
Translated by Liu Peng
Original article: [Chinese]

107 Chinese Make the Forbes Rich List

BOCVIP — Wed, 10 Mar 2010 19:01:12 -0800

Mexico Telecoms tycoon Carlos Slim Helu saw off Microsoft boss Bill Gates and investor Warren Buffett to claim the top spot of 2010 Forbes rich list; 107 Chinese make the list.

According to the annual rich list by Forbes released on Mar. 10 in New York- Bill Gated was knocked off the top spot and 64 rich men from mainland China have made it on the list, only second to Americans in total numbers.