Economic News

Chinese consumer inflation picked up pace in November, led by higher prices for food, data from the National Bureau of Statistics show. Annual consumer inflation was 1.9% in the month, up from 1.4% in October. The increase was the biggest since a similar rise in January, but then the figure was boosted by extra consumption for the Lunar New Year holiday. Food, which accounts for a third of items in the consumer basket used to measure inflation, rose 3.7%. 'Moderate inflation' However, analy ...

SINGAPORE (AFX) - The US dollar edged lower against the yen and the euro in afternoon trade here after gaining sharply earlier in the day following the release Friday of stronger-than-expected November US non-farms payroll data, dealers said. They said the pullback in the US unit may be due to caution ahead of the US Federal Open Market Committee (FOMC) meeting tomorrow. At 2.40 pm here (0640 GM ...

BEIJING (XFN-ASIA) - The Chinese central bank's cost of sterilizing capital inflows is relatively low, a senior official of the People's Bank of China said. "Economic imbalances and the situation where the central bank is forced to inject liquidity when buying foreign exchange reserves is easing," said Yi Gang, an assistant governor of the central bank. "The current situation is c ...

HONG KONG (XFN-ASIA) - India's annual economic growth could accelerate to more than 10 pct in the next five years, the country's finance minister P. Chidambaram told the Wall Street Journal. India, which clocked gross-domestic-product growth of 9.1 pct in the first half of this fiscal year -- could see growth climb into the double digits during the period covered by the government's next five-yea ...

SHANGHAI (XFN-ASIA) - China's GDP is likely to grow at over 7 pct in the next ten or fifteen years, as the government seeks to contain the economy's expansion to reasonable levels, focusing on high-quality and efficient growth, Xie Fuzhan, the head of the National Bureau of Statistics (NBS), said in China Securities Journal report. The government will undertake great efforts to resolve the issue  ...