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UK and China in negotiations on currency swap

The Bank of England is next after Australia, Brazil, Japan and Hong Kong to sign currency swap agreement with China. The Bank and the People’s Bank of China are close to signing a three-year currency swap arrangement, allowing the two

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China reports a slowdown in manufacturing growth

One of the biggest drivers of Chinese economic growth, the manufacturing sector shows signs of contraction yet again. The Purchasing Managers’ Index (PMI), a key indicator of activity in the manufacturing sector, fell to 50.04 in January from 50.6 in

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World Bank sees China growing 8.4 percent in 2013

(Reuters) – The World Bank raised its 2013 economic growth forecasts for China and developing East Asia on Wednesday, and said the region remained resilient despite the lackluster performance of the global economy. “For 2013, we expect the region to

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China simplifying FDI rules

In a bid to spur a fresh wave of economic growth, China has said it will “simplify” procedures for foreign direct investments. China’s economic growth has been slowing and hit a three-year low in the third quarter, with FDI falling

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China’s new figures add hope to economic recovery

China has reported an increase in industrial production, retail sales and fixed-asset investment at a time when the country is facing its slowest growth rate since the past three years. To add to the joy, China’s inflation rate hit its

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China working towards more economic reforms

Addressing the Communist Party, China’s president Hu Jintao said the country will deepen its economic reforms aimed mainly at expanding domestic demand. The president’s statement comes at a time when China is experiencing its slowest economic growth rate for three

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World Bank lowers China’s growth projection

The World Bank’s forecast of China’s economic growth went down from 8.2% to 7.7% amid the dwindling economy of the nation caused by economic problems in two of its key markets, the Eurozone and the US. The weak demand for

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