介绍:
China welcome WTO's ruling on U.S. double remedies
The World Trade Organization has determined that the United States has acted inconsistently with WTO rules regarding countervailing and anti-dumping measures on certain products from China.
Commerce Ministry spokesman Shen Danyang.
"China is urging the United States to respect the WTO's rulings. The U.S. side should correct its erroneous practice of abusing trading remedy measures as soon as possible to ensure a fair and competitive environment for Chinese enterprises."
But Shen says China has expressed regret over a finding that the U.S.' remedy to the Tariff Act was not inconsistent with WTO rules.
The Chinese side has been insisting the amendment puts Chinese enterprises in an uncertain legal environment.
Shen emphasizes that the case involves annual exports valued at over 7.2 billion dollars, representing significant interests for China.
The spokesman further notes that China is currently assessing the panel report and will follow WTO dispute settlement procedures.
Bank of China Signs Cooperation Agreement with Airbus
The Bank of China, the country's leading state-owned commercial bank, has reached a global cooperation agreement with the European aircraft manufacturer Airbus.
The agreement signed on Friday states that the two sides will start cooperating in the credit business field, which includes domestic and international settlements, global cash management, capital operations, trade financing, and in issuing loans.
The two will also reportedly work together in certain aspects of aircraft leasing and aircraft asset management.
Tian Guoli, chief executive officer at the bank, says that as the world's largest bank involved in aircraft financing, Bank of China has provided financial services to the aircraft industry for over 30 years.
Call in on cooperate news of the week
Anchor:
Let's check out some of the key events on the corporate front in China this week.
First, ICBC reduced the number of interfaces that allow customers to use their bank cards to make payments on Alipay from five down to one.
It also shaved the cap on daily payments made to Alibaba's platform.
The bank, one of the big-four lenders in the country, said it is consolidating the five interfaces located across the country into one in Hangzhou in Zhejiang Province, where Alibaba is based.
The big-four banks — ICBC, China Construction Bank, the Agricultural Bank of China, and the Bank of China — have lowered the cap on payments per transaction as well as total payments per day that users can make via Alipay.
For more on the two issues, CRI's Paul James spoke earlier with Doug Young, Associate Professor of Fudan University and former China company news chief at Reuters.
…
That was Doug Young, Associate Professor of Fudan University and former China company news chief at Reuters.
China's Qianhai economic zone steps up financial reform, innovation
China's Qianhai special economic zone in Shenzhen is viewing the innovation of financial services and mechanisms as a top priority of its reform efforts in 2014.
The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone issued a 46-point guideline for administrative and financial management reforms in February.
Forty percent of the document focuses on launching new financial services and mechanisms.
Zhang Bei is the director of the Cooperation Zone
"In tune with the new momentum of the country's overall economic development, (we have proposed) innovation on free trade accounts, a Renminbi capital pool, and on securities and insurance. We hope that breakthroughs on more than a dozen points will lay a solid foundation for our country's financial innovation and reforms." .
By the year end, the zone is expected to see the amount of registered cross-border Renminbi loans jump to 50 billion yuan, compared to 15 billion yuan in 2013, thanks in part to a low interest rates.
The zone was established in 2010 in Shenzhen, aiming to spearhead financial reforms.
Chery plans to put up assembly plant in Philippines
Chinese car manufacturer Chery Automobile Co. Ltd is planning to put up an assembly plant in the Philippines within the next three years.
It costs 4.5 billion pesos, or about 100 million U.S. dollars.
Chery has existing assembly plants in Malaysia and Indonesia and it is grooming the Philippines to become its third assembly hub in Southeast Asia.
China's top car company recently has partnered with a local firm to create Chery Cars Philippines, Inc. which will initially serve as the exclusive distributor of its cars in the country, and eventually manage assembly operations.
Chery cars currently sold in the Philippines are all imported from China.
The company has introduced eight new models of commercial and utility vehicles and passenger cars which will be sold by local dealers this year.
Japan's consumer prices up 1.3 pct in Feb
Japan's Internal Affair Ministry says Japanese consumer prices rose 1.3 percent in February compared to and recorded the ninth consecutive month of growth.
Rising electricity prices contributed to the upturn, surging 9.3 percent during the reporting period, while energy prices as a whole expanded 5.8 percent.
The ministry also says Japan's jobless rate in February improved to 3.6 percent, down from 3.7 percent in the previous month, reaching the lowest level since July 2007.
According to Japan's Kyodo News, the improvement is partly due to an
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