Foreign direct investment (FDI) has dropped down for 4 months continually in January since the economic crisis influenced deeply around the world.
Compared with the amount of overseas direct investment in January 2008, which had risen by 109.78 percent, the Ministry of Commerce said yesterday that the amount of last month in this year dropped 32.6 percent to $7.54billion.
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A series of trade barriers will be caused by the “buy American” products only clause in the $787-billion US economic stimulus package while large exporters, such as China will be hurt by this move, economists said last Sunday.
It is obvious that trade protection is certain to rise, said Mei Xinyu, a trade expert form the Ministry of Commerce. The current situation will stay for some time, he said, referring to the lasting effects caused by the US stimulus package. Read more…
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With the approaching of Shanghai World Expo, Taiwan may agree to lend part of the famous Song Dynasty painting, Riverside Scene at the Pure Moon Festival, to Shanghai on the condition that Beijing only keeps the other part of which would be displayed at 2010 World Expo.
Recently, the director of Taipei’s “National Palace Museum” Chou Kung-Shi had visited the Forbidden City. After being impressed by Read more…
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With the world Expo hold here, the local will have great increase of confidence.
Premier Wen hold a meeting about the preparations for the expo and ask the preparations team to get the construction of the facilities more fast and get ready of the quality service.
As the meeting means for the singe person, the Shanghai academy of Social Science researcher Qiao zhao-hong said: it is the order to get national support and worldwide intelligence to host the Expo.
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China has planed to tackle the global financial crisis through 4-trillion-yuan economic stimulus package. Here are other countries’ methods to deal with the crisis:
United States: The global crisis was brought about by the housing market collapse of this country which has earmarked $700 billion for bank funding. It is expected that Barack Obama would spend hundreds of billions of dollars more in a fiscal stimulus package once he assumes office next year.
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US Treasury Secretary Henry Paulson has praised China for its “constructive” role in coping with the global financial crisis and said Beijing will continue to be “an important engine” for the world economy. He mentioned on Tuesday that the important role of China to support the world economy should be recognized by the next US president and the world is depending on more contributions from China. However, many economists have cautioned China in purchasing overseas financial assets because of their uncertainty.
Besides quoted Wen Jiabao’s earlier statement of China’s role in dealing with global financial crisis during the annual meeting of the US-China Relations National Committee in New York, Paulson also stressed the importance of closer international relationship as the financial crisis continues spreading its impact. Read more…
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