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China's voting power in World Bank ascends to third place
Member-states of the World Bank reached an agreement on Sunday to shift more power to emerging and developing nations, under which China's votes increase from 2.77% to 4.42, the third largest voting power holder in the Washington-based international institution.
China Commerce Minister Cautious on Export Recovery
Chinese Commerce Minister Chen Deming said on Friday he remained cautious about the growth of exports this year as the recovery in demand for Chinese-made goods in the US and Europe was still very slow. Chen made these remarks during an exclusive interview with Xinhua whilst visiting the 107th Canton Fair in Guangzhou.
China Southern Q1 profit surges sixfold
China Southern Airlines, the nation's largest carrier, boosted first-quarter profits more than sixfold after carrying more passengers and selling a stake in a maintenance venture to its parent. Net income climbed to 1.42 billion yuan ($208 million) from a year earlier. China Southern flew 17.7 million passengers in this period, 15 percent more than a year earlier. The airline also completed the 1.6 billion yuan sale of its 50 percent stake in MTU Maintenance Zhuhai Co.
China retail sales to rise 16% in 2010: Commerce Ministry
China's Ministry of Commerce forecast a 16 percent year on year increase in the country's retail sales for 2010. An acceleration in urbanization will boost consumption and improvements in social welfare will also encourage consumers to spend, according to the report posted on the MOC¡¯s website.
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