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January 17, 2010

China’s forex reserves near $2.4 trln

Filed under: Financial News — Tags: — sherry @ 11:36 am -0800

China’s forex reserves near $2.4 trln
BEIJING, Jan. 15 (Xinhua) — China’s foreign exchange reserves almost hit 2.4 trillion U.S. dollars by the end of 2009, up 23.28 percent year on year, the People’s Bank of China, the central bank, announced on Friday.

China might become top world exporter, but weakness remains

BEIJING, Jan. 10 (Xinhua) — China will probably overtake Germany to become the world’s largest exporter though its exports in 2009 had fallen 16 percent from a year earlier, according to figures released Sunday by the General Administration of Customs (GAC).

But Chinese experts and officials said the country was far from being a real trade power if measured by exports structure, technological innovation and industry competitiveness. Full story

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Shanghai sees further recovery in foreign trade last month

Filed under: Financial News — Tags: — sherry @ 11:34 am -0800

Shanghai sees further recovery in foreign trade last month
News on January 17: China’s economic hub Shanghai in December posted the first year-on-year growth in both imports and exports in 14 months, indicating further recovery from the economic downturn, local customs said Sunday.

Last month, Shanghai’s foreign trade stood at 30.7 billion U.S. dollars, a growth of 35.3 percent over the same month of 2008. This was the second year-on-year growth of foreign trade in two consecutive months in the city, the sources said.

Exports in particular, which stood at 15.21 billion U.S. dollars, reported the first year-on-year growth of 23.5 percent since November 2008, while imports surged 49.5 percent, up from the 26.7 percent growth rate in the previous month.

Last month saw the city’s trade with the European Union, the United States and Japan up 15.4 percent, 36.8 percent and 19.8 percent, respectively.

However, Shanghai’s foreign trade in total last year went down 13.8 percent from 2008 to 277.73 billion U.S. dollars due to the economic crisis effect. The total included 141.91 billion dollars in exports, down 16.2 percent, and 135.82 billion dollars in imports, down 11.1 percent.

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South Korean Unemployment Number after financial crisis, over 4 million, which created a new record in 98 years

Filed under: Financial News — Tags: — sherry @ 11:11 am -0800

South Korean Unemployment Number after financial crisis, over 4 million, which created a new record in 98 years
South Korean Unemployment Number exceeds 4 million, which creats the highest number in 98 years.

News on January 17, affected by economic crisis, South Korea sharp increase in the number of people give up their jobs, leading to the actual number of unemployed people to 400 million.

In the population over the age of 15 due to nursing, home, education, old age and other reasons, although capable of working but not the employment of non-economically active population, super-16.7 million people, South Korea reached a record high.

17, according to South Korean Ministry of Finance, Planning and Statistics Office, says that last less than 18 hours weekly working hours of employment, non-economically active population of people preparing for employment, there is no special reason to rest at home, people, official statistics of unemployed people, both clips, the actual number of unemployed reached 4.08 million people.

Among them, give up their jobs for 16 million people and prepared to find jobs, temporary rest, who are part of the overlap, but even considering this factor, the number of actual employment to 400 million. In view of South Korea’s population over 15 years of 40 million, equivalent to 10 who have an unemployed person is homeless.

The actual number of unemployed persons reached in 1998, the highest since the financial crisis.

In order to provide jobs in the non-economically active population, the Korean government is also to be implemented during the first half of this year hopes to work system and the trainee system and the introduction of flexible working for women.

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