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Archive for the Category ‘Economy’

China’s home prices rise 12.4% in May

China’s home prices rise 12.4% in May

BEIJING: Home prices in 70 large and medium-sized Chinese cities rose by 12.4 percent year-on-year in May, the National Bureau of Statistics (NBS) said in a statement Thursday.
The growth rate was 0.4 percentage points lower than that of April, as property sales in first-tier cities, including, Beijing, Shanghai and Shenzhen, contracted following a string of [...]

China signs 3.5b yuan currency swap agreement with Iceland

China signs 3.5b yuan currency swap agreement with Iceland

China’s central bank has signed a bilateral currency swap agreement totaling 3.5 billion yuan ($513 million) with the Central Bank of Iceland.
The agreement has a three-year maturity and can be extended if both sides agree, according to the statement posted on the People’s Bank of China’s website Thursday.
The move aims to deepen financial cooperation between [...]

Mainland, Taiwan to hold 3rd talks on economic pact

Mainland, Taiwan to hold 3rd talks on economic pact

The Chinese mainland and Taiwan have decided to hold  third round of expert-level talks on Sunday, to pave the way for a long-awaited economic and trade pact that is expected to boost cross-Strait trade.
Experts from both sides will discuss the framework and the clauses of the Economic Cooperation Framework Agreement (ECFA), said a statement from [...]