World Bank has reiterated its view that the Chinese government should allow the Yuan to strengthen against other international currencies. The bank also forecasted the Chinese economy would grow 9.5% in 2010 and 8.5% in 2011.
US Secretary of State Hillary Clinton pressed for greater commercial access for US businesses in China on Sunday, urging Beijing for a “level playing field”. Ms Clinton spoke to US and Chinese business executives in Shanghai, following a tour of the World Expo.
Argentine Small Farmers Association (FAA) leader Eduardo Buzzi charged against the government over China's decision of suspending all Argentine soybean oil imports which is considered by many as retaliation to some restrictions that the Cristina Fernández de Kirchner's administration imposed on Chinese products.
Nigeria's state-run oil firm Nigerian National Petroleum Corporation and China State Construction Engineering Corporation have signed a 23 billion US dollars deal.
Corn futures rose to a two-month high on mounting demand from China, the world’s second-biggest consumer.
United States trade deficit rose to a 15-month high in March as rising imports underlined the economy's recovery. Figures from the Commerce Department showed the gap between imports and exports rose 2.5% to 40.4 billion US dollars.
The European Union asked Argentina not to restrict food imports, which was reported by manufacturers and producers. Manufacturing sources said that restrictions began being applied in the last few days on products that are also elaborated locally, in a non-written measure that primarily affects the EU and Brazil.
April inflation in China has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.
Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.
China National Offshore Oil Corporation, CNOOC (NYSE:CEO) Ltd said on Wednesday it had closed a 3.1 billion US dollars deal with Argentina’s Bridas Energy Holdings (BEH) to buy a 50% stake in Bridas Corporation, a wholly owned subsidiary of BEH.