From Bloomberg (link) China’s government said companies and banks are far from adapting to a more flexible yuan, and that foreign-exchange reserves must be diversified to counter speculation the currency will rise. China wants to move toward a more freely traded currency system and “everyone has to adjust,” People’s Bank of China Vice Governor Wu […]
Read MoreFrom Xinhuanet (link) World Bank‘s Board of Executive Directors yesterday approved a US$20 million loan to support China’s economic reform. It is the fifth in a series of technical cooperation projects that the Bank has funded since 1983. The China Economic Reform Implementation Project aims to significantly increase the adoption and use of sound reform […]
Read MoreFrom Reuters via the Washington Post (link) The billboards that line the road from the airport to the center of this metropolis in China’s southwest proclaim as soon as you arrive that the country’s property boom has spread firmly to the interior. Touting housing developments like “Venice Impression” and “Dream Town,” they are as ubiquitous […]
Read MoreFrom Asia Times (link) China’s booming property market, which had cooled off after the central government adopted a package of policies to rein in runaway housing prices a year ago, has begun to show signs of warming up since March of this year. Data from the National Bureau of Statistics showed that the property market […]
Read MoreFrom the Associated Press via the New York Times (link): China will pay an extra 12.5 billion yuan ($1.6 billion) in subsidies to grain growers this year, more than doubling support to help compensate for higher fuel prices and other production costs, the government said. The government has sharply raised subsidies to farmers in recent […]
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