The expected double-digit growth for a fifth consecutive year did not necessarily mean the Chinese economy was free from disturbance. A glance through the media catchwords of 2007 may offer a rough idea about the critical issues China has been facing over the past year.      "Sound and fast"     To guide national economic development, the Central Economic Work Conference called for a "fast...

The Chinese government would further allow the market to determine the RMB exchange rate and more flexibility to the RMB band, Chinese Premier Wen Jiabao said Wednesday. Wen made the remarks during a speech at the fourth EU-China Business Summit held here, which attracted about 500 entrepreneurs from China and the European Union (EU). However, the premier also emphasized China would improve the RMB exchange rate regime "in a proactive,...

China's currency, the renminbi (RMB), hit a new high against the U.S. dollar on Thursday breaking the 7.36 mark. The central parity rate stood at 7.3568 yuan against one dollar, the Chinese Foreign Exchange Trading System said. It was the 78th occasion this year that the yuan had reached a new high against the greenback. The yuan climbed 79 basis points from its previous trading of 7.3647 yuan against one dollar. As of Thursday,...

China's Central Economic Work Conference closed here on Wednesday with the headline news that the ten-year prudent monetary policy will be replaced by a tight one in 2008. China's development in fiscal and monetary policies are as follows:...