BEIJING (Xinhua) — The central bank reiterated Friday that the country will continue to implement a proactive fiscal policy and prudent monetary policy in 2012. The statement was released by the People’s Bank of China after data showed that growth in the world’s second-largest economy slowed for a sixth quarter, rising 7.6 percent year...
By Prak Chan Thul and Stuart Grudgings PHNOM PENH (Reuters) – A Southeast Asian regional summit ended in acrimony on Friday over China’s assertive role in the strategic South China Sea, failing to agree on a concluding joint statement for the first time in its 45-year history. Divisions between the 10 countries in the...
By Nick Edwards and Kevin Yao BEIJING (Reuters) – China’s growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilise the economy. Year-on-year growth of...
Secretary of State Hillary Rodham Clinton said Thursday that she hopes China will work diplomatically with its regional partners toward “finalizing a code of conduct” for resolving territorial disputes over the oil-rich South China Sea. “Nations of the region should work … diplomatically to resolve disputes without coercion, without intimidation, without threats and certainly...
A Chinese naval frigate has run aground while patrolling disputed waters in the South China Sea, the defence ministry said Friday, amid tensions with the Philippines over territorial claims. The ship was on “routine patrol” when it became stranded near Half Moon Shoal in the Spratly Islands on Wednesday evening, the ministry said in...
As Team USA Olympics team gets ready for the opening of the Summer Olympics in London just a few weeks away, controversy is surrounding news that the uniforms they will be wearing were manufactured in China. That fact was discovered by ABC News, which looked at the labels of the red, white and blue...
BEIJING (Reuters) – Chinese banks should increase funding to support real economic activity, the country’s central bank said on Friday, hours after data showed China’s economy is stuck in its worst slowdown in over three years. In the 2012 financial stability report, the People’s Bank of China also said banks should “actively respond” to...
Is China’s growth accelerating or decelerating? Both. On a year-over-year basis, China’s economy grew 7.6% in the second quarter, down from 8.1% in the first and the lowest level since the depths of the financial crisis back at the beginning of 2009. On an annualized quarter-over-quarter basis though – the way in which growth...
BEIJING (AP) — A widely read microblog written by the U.S. Consulate in Shanghai and known for its sometimes tongue-in-cheek comments about China’s social and political issues was inaccessible Friday. Sina Weibo, China’s most popular microblog site that hosts the consulate’s account, said it could be a technical glitch, an explanation the company has...
