介绍:
China's exports up 0.9 pct in April
New customs data shows Chinese exports have increased less than one-percent through April.
The 0.9 percent year-on-year increase amounts to nearly 190-billion U.S. dollars.
The same data also shows imports increased less than one percent to 170 billion U.S. dollars.
As such, the trade surplus has only increased by 18 billion dollars in April.
That represents an increase of less than 2-percent.
Thursday's data release also shows total foreign trade volumes are down half-a-percent so far this year.
OECD cuts growth forecast for China's economy
The Organization for Economic Cooperation and Development has cut its growth forecast for China this year.
The OECD is now predicting Chinese economic growth for the year will come in at 7.4-percent, significantly down from the 8.2-percent forecast it put out in November.
At the same time, the Paris-based agency expects world growth to slow down to 3.4-percent this year, slightly lower than its previous estimate of 3.6-percent.
For more on this, The Beijing Hour's Shane Bigham spoke earlier with Cao Can, CRI's financial commentator.
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Cao Can, CRI's financial commentator, speaking with The Beijing Hour's Shane Bigham.
New Zealand expects to double food, beverage exports by 2030
New analysis by the New Zealand government is anticipating food and beverage exports from the country are expected to double in value over the next 15-years to 40 billion U.S. dollars, driven by demand in China and the rest of Asia.
The New Zealand government report suggests food producers in the country still have a lot of potential for growth.
The report suggests New Zealand is in a "fundamental transition" from feeding westerners to feeding the Asia-Pacific region.
In 2012, 40-percent of all New Zealand food and beverage exports were directed at Asia, with China being the largest single destination.
U.S. SEC warns investors over bitcoin risks
The US Securities and Exchange Commission has issued an alert about Bitcoin and other forms of virtual currency.
The warning is specific to potential investment risks inherent to the largely-unregulated market for these products.
The Commission says new products, technologies, and innovations -- such as Bitcoin -- come with the potential for fraud and high-risk investment opportunities.
Bitcoin, created in 2009, is the most well-known virtual currency.
It can be exchanged for traditional currencies, but is often used to buy goods and services.
However, regulators are warning that bitcoin operates without a central authority, and is not backed by any government.
People's Bank of China governor Zhou Xiaochuan is on-record saying bitcoins are more like tradable assets than a currency.
To guard against the risk, the central bank has prohibited domestic financial institutions from doing business with bitcoin.
U.S. adds up to 141 million to support offshore wind power
The US Energy Department is planning to allocate up to 47-million US dollars for each of three new offshore wind turbine projects.
The over 140-million US dollars will be spent over the next four years.
The three projects in question are being built off the coasts of New Jersey, Oregon, and Virginia.
China removes price cap for low-cost medicines
The retail price cap on low-cost medicine here in China is being scrapped.
The move is being made to try to revive production, which has been stifled by weak profits for drug makers.
The National Development and Reform Commission is lifting the price caps on 280 different imported drugs, and 250 drugs holding a Chinese patent.
Producers of these drugs will now be able to set their own prices based on their production costs.
Supplies of low-cost drugs here in China have been dwindling, as producers have been shifting their focus to more profitable medications.
Local authorities are being asked to keep an eye on drug prices to ensure producers are not raising costs at unreasonable levels.
Ctrip's net profit slumps despite soaring revenues
Ctrip.com is reporting a 25 percent drop in its first-quarter profits, despite a 36-percent rise in revenues.
Ctrip is blaming a "price war" in the online travel booking sector for increasing marketing costs and diminishing profitability.
Ctrip, which is listed on the Nasdaq, says its net profits have come in at just 115 million yuan, or some 18 million US dollars, even though its net revenues have increased to 1.6-billion yuan.
The company says its sales and marketing fees have jumped over 60-percent year on year in the first three months.
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