Posts Tagged ‘China’

Chinese Internet Sites Hit By Anonymous Attack

Chinese Internet Sites Hit By Anonymous Attack

The hacking group named Anonymous has claimed that it has defaced nearly 500 Chinese websites. Sites that were affected in the large-scale defacement included websites belonging to the government, official agencies, and trade groups. A message which appeared on the hacked websites stated the attack had the purpose of protesting against the Chinese government, and [...]

China Set To Overtake India As The Biggest Gold Market In the World

China Set To Overtake India As The Biggest Gold Market In the World

According to the World Gold Council’s (WGC) most recent annual report, China is set to overtake India to become the largest market for gold in the world this year, due to increasing investment purchases of bullion, and rising sales of jewellery. Last year, gold sales to China rose by 20% from the year before to [...]

IMF Chief Says China Needs To Reform Its Economy

IMF Chief Says China Needs To Reform Its Economy

The chief of the IMF (International Monetary Fund), Christine Lagarde, has said that China needs to prevent its economy from being overly dependent on investment and exports. Lagarde has also said that the Yuan, the Chinese currency, may become a global reserve currency, if the Chinese government introduced market-oriented changes. Ms Lagarde’s comments came as [...]

China Posts Large Trade Deficit As Imports Rise

China Posts Large Trade Deficit As Imports Rise

China recorded its biggest trade deficit for at least a decade during February, as the level of commodity imports soared as businesses built up their supplies. The trade deficit was $31.5bn after imports went up by 39.6% from the same time last year, the nation’s customs bureau has stated. Exports meanwhile, increased by only 18.4%. [...]

Australia Sees Lower-Than-Expected Economic Growth In 2011’s Final Quarter

Australia Sees Lower-Than-Expected Economic Expansion During 2011’s Final Quarter

The Australian economy expanded by less than was predicted in the final quarter of 2011, it has recently been announced. Gross domestic product (GDP) increased by 0.4% in the three months to December’s end in comparison with the previous three months of 2011. The latest economic growth figures, announced by the Australian Bureau of Statistics, [...]

Gold May Hit $2,300 Per Ounce This Year, US Gold Miner Says

Gold May Hit $2,300 Per Ounce This Year, US Gold Miner Says

Gold is likely to hit $2,300 per ounce during 2012, and may even pass the $3,500 an ounce mark within the next three years. This is according to the Chief Executive Officer (CEO) of US gold miner Alacer Gold Corp (Public, TSE:ASR). Ed Dowling told Bloomberg that concerns regarding sovereign debt, as well as higher [...]

China Set To Improve Support For Its Small Businesses

China Set To Improve Support For Its Small Businesses

The Chinese government will introduce new policies to try and boost the healthy development of small and micro-sized businesses, a government official has announced. At a press conference earlier in the month in Beijing, Zhu Hongren, chief engineer of China’s Ministry of Industry and Information Technology, said that the ministries of finance and industry have [...]

Eurorzone Crisis Could Cut China’s Growth By Nearly 50%, According To IMF

Eurorzone Crisis Could Cut China's Growth By Nearly 50%, According To IMF

A recession in the eurozone could reduce Chinese growth by nearly half of forecasted figures for this year, according to the IMF (International Monetary Fund). It estimates that the Chinese economy will grow by 8.2% in 2012. However, it cautions that a eurozone downturn could cause growth for this year to fall to 4.2%. The [...]

Gold Futures Weaken After Hitting A Six-Week Closing High

Gold Futures Weaken After Hitting A Six-Week Closing High

Gold futures dropped from a six-week closing high point during the course of Asian trading on Tuesday, spurred by the strength of the dollar and a loss of buying support from markets in China – Chinese markets stayed closed at the beginning of this week for the nation’s Lunar New Year holidays. Gold futures for [...]

China ‘To Withdraw’ Support For Foreign Investment In The Nation’s Car Industry

China 'To Withdraw' Support For Foreign Investment In The Nation’s Car Industry

China has announced that it is set to remove support for foreign investment in the nation’s motor industry, in order to encourage the development of Chinese carmakers. The news comes from China’s state media. The country’s Xinhua news agency cited an announcement from both the National Reform and Development Commission and the Ministry of Commerce. [...]