This year’s negotiations between China’s steel companies and iron ore miners on a benchmark price for the material could last until mid-year, which would be a record, analysts have told Xinhua.
China’s apparent steel use, predicted to see a five percent decline in 2009, will lead the recovery for the whole world with a total steel use decline of 14.9 percent, the World Steel Association said in London on Monday.
Several factors are driving both vehicle producing and vehicle consuming nations closer together everyday.
The Swedish-based Sandvik group, one of the world’s largest engineering equipment producers, plans to expand its manufacturing production bases on the Chinese mainland this year to tap the nation’s mining and construction boom.
There is a different kind of games - the WorldSkills International competition - popularly known as the Olympiad for professional skills. These competitions are aimed at providing an opportunity for young professionals in various industries and service trades from around the world to show off their craft and enhance the standard of technique and skills in the countries and regions the competitors represent.
Foreign investment, both to the financial and non-financial sectors, was significantly down in China last year, as foreign investors tightened their belts amid the global financial crisis, according to the State Administration of Foreign Exchange (SAFE) on Friday.
Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.
Morgan Stanley on Thursday raised its forecast for China’s GDP growth this year to 7.0 percent from 5.5 percent
China, owner of the world’s biggest forex reserves, said Friday its gold reserves had risen to 1,054 tons by the end of 2008.
General Motors Corp. is planning to temporarily close most of its US factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, two people briefed on the plan said Wednesday.