The World Bank to forecast China's GDP of 9.5% growth

The World Bank yesterday (April 7th) released their half year report on the economy in East Asia and the Pacific Region. The report pointed out that due to China's strong economic recovery, east Asia is gradually stepping out of the financial crisis and now basically recovering to pre-crisis levels in terms of output, exports and employment. In addition, the World Bank continues to maintain China's GDP forecast at 9.5% growth in 2010.

Geithner Heads to BJ for Talks

US Treasury Secretary Timothy Geithner will visit Beijing for talks on economic issues with Vice-Premier Wang Qishan today (April 8th). Geithner's spokesman said the visit is a sign that the two sides are moving towards settling a dispute over China's currency. Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation affiliated to the Ministry of Commerce, said the yuan issue could top the agenda of Geithner's meetings with Chinese Officials.

China's central bank to issue 3-y bank bills; latest sign of liquidity tightening

The People's Bank of China, China's central bank, said last night(April 7th) that it will issue 15 billion yuan (2.2 billion U.S. dollars) of 3-year bank bills today(April 8th), another sign the government wants to tighten liquidity. The central bank stopped issuing 3-year bills in June 2008 to reverse the economic slowdown.