China’s trade surplus hit a monthly all-time high of US$28.7 billion in August – but this was caused by a sharp slowdown in imports rather than any signifi cant movement in export numbers, AFP reported. The previous record for the trade surplus was US$27.1 billion, set in October 2007. Total imports came in at US$106.2 billion in August, up just 23.1 per cent year-on-year. Import growth was 33.7 per cent in the previous month. Exports rose 21.1 per cent to US$134.9 billion, compared … [Read more...] about China: China’s trade surplus grows as imports slow
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China: Shenzhen’s growth rate hits 30-year low
Economic growth in Shenzhen slid to its lowest level in nearly 30 years during the first half of the year, the South China Morning Post reported. The city posted GDP growth of 10.5 per cent for the sixth-month period, a marked slowdown on the 14.6 per cent growth in 2007 as a whole. Economic planners have revised down their full-year projection for 2008 from 14.7 per cent to 12 per cent. By comparison, between 1980 and 2006 Shenzhen saw its economy expand by more than 27 per cent. … [Read more...] about China: Shenzhen’s growth rate hits 30-year low
China: Cargo charters for Chinese halal products
China’s Muslim-dominated Ningxia autonomous region, which is beefing up its halal products sector, is planning to start air cargo charters to Kuala Lumpur, Bangkok and Dubai next year. The charters will help Muslim-dominated Ningxia autonomous region export agriculture produce from the Chinese north western region, said Chen Zhigang, the director-general of the Ningxia investment promotion bureau. “The construction of an international cargo logistics centre has just started. The … [Read more...] about China: Cargo charters for Chinese halal products
China: 2 AVICs become China Aviation Industry Corp
China’s AVIC I recently said that the merged company it is forming with AVIC II will be called “China Aviation Industry Corp. Group”. The merger, which aims to create a state-owned company to oversee aircraft manufacturing in China, including development of a “jumbo aircraft” by 2020 to compete with 737s and A320s, has been delayed several times this year. AVIC I said integration processes are underway but the official start of CAIC Group will be delayed until … [Read more...] about China: 2 AVICs become China Aviation Industry Corp
China: Air China sees volumes slide in August
Air China says it carried 68,000 tonnes of cargo in August, down 4.1 per cent on August 2007. Its eight month rolling comparison for the year was 552,384 tonnes, little changed from the same period of 2007. The cargo load factor for August was 56.2 per cent, down 0.5 percentage points, while the passenger load factor for Jan-August was 58.1 percent, up 4.7 percentage points. … [Read more...] about China: Air China sees volumes slide in August
China: Possible China Eastern, Shanghai Air merger
China Eastern Airlines’ (CEA) president Cao Jinxiong said recently that government shareholders in his company and Shanghai Airlines (SA) are discussing a merger of the two carriers, the Wall Street Journal reported. He said that the government plans to inject capital into CEA before merging it with SA, at which point the combined entity would consider a possible stake sale to Singapore Airlines. “Both [deals], with Shanghai Airlines and Singapore Airlines are possible. But for … [Read more...] about China: Possible China Eastern, Shanghai Air merger
