China’s economy grew at an annual rate of 9.6% of the third quarter, slightly ahead of expectations.
The economy’s vigorous growth comes as Chinese policy makers grow increasingly concerned about rising prices. Inflation accelerated to an annual rate…
China vowed it would maintain the supply of rare minerals and said it may boost 2011 exports of the substances.
The Chinese Commerce Ministry denied reports that it would further reduce export quotas.
“China will continue to supply rare earth to the world,” the ministry said in a fax to Bloomberg News.
The minerals are used in products such as electronics, wind turbines and smart…
Continue reading China Vows to Maintain Rare Mineral Supply
China Vows to Maintain Rare Mineral Supply originally appeared on DailyFinance on Wed, 20 Oct 2010 07:22:00.
Filed Under: Technology, Economy
Stocks fell sharply Tuesday after a surprise rate hike from China’s central bank and mixed quarterly earnings reports led to heavy selling in technology, materials and energy stocks.
Continue reading Dow Dives …
China surprised international markets Tuesday by raising key interest rates for the first time in three years. The move sparked a worldwide sell-off on worries that it could cause the Chinese economy to slow down.
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China hiked its interest rates for the first time since 2007 in a bid to combat rising inflation.
The People’s Bank of China raised its one-year deposit rate to 2.5% from 2.25%, while the lending rate rose to 5.56% from 5.31%, Bloomberg News said.
Inflation rose to 3.5% in August, highlighting the risk of an overheating economy. China, the world’s second-largest economy, grew at an…
Continue reading China Raises Interest Rates For First Time Since 2007
China Raises Interest Rates For First Time Since 2007 originally appeared on DailyFinance on Tue, 19 Oct 2010 08:02:00.
Filed Under: Economy, Currency, Market News