The leading policy maker said China should take actions at present to strategically and completely reexamine the policies for millions of migrant workers who are unemployed due to the current financial crisis.
Liu He, deputy director of the Office of the Central Leading Group on Finance and Economy, said the need of the hour is to provide vocational training and education for the migrant workers. “This is not only about employment but also something that has severe social implications,” Liu said in an Read more…
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China, crisis, economy, migrant, package, policy
A clause in a sweeping economic stimulus package would undermine the country’s foreign policy and threaten the relations with other countries, especially with China, according to economists and scholars.
The main purpose of the ‘Buy American’ clause in a bill that President Barack Obama made law on Tuesday is to release $787 billion to rescue the US economy. The stimulus law says US iron and steel would be used for government projects.
It also states that the ‘Buy American’ provision be applied reducing US responsibilities without international agreements, and this Read more…
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China, crisis, economy, law, policy, purpose, relations, U.S.
According to China’s Ministry of Industry and Information Technology (MIIT) last week, it is considering cutting tax for lead-acid battery exporters in order to stop them from laying off workers.
An MIIT official said they are discussing the report but no conclusion has appeared. His team is waiting for industry figures from last year and will decide whether to Read more…
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China, economy, export, industry, policy, recession, report, tax
According to analysts, the sharp fall of the yuan this week does not show a major change in the foreign exchange rate policy or its long-term currency revaluation in this country. But the chief economist of Bank of Communications Lian Ping said the yuan should not rise too fast because that would hurt exporters, who have already hit by the global financial crisis.
Started on Nov 4, the two-day China-US Strategic Economic Dialogue (SED) Read more…
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change, China, foreign exchange, policy, RMB, signal, yuan
The leading policy maker said China should take actions at present to strategically and completely reexamine the policies for millions of migrant workers who are unemployed due to the current financial crisis. 
