Update 1: China Needs to Do More to Control Spending
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China needs to do more to control spending on construction, factories and other &quot;fixed assets&quot; to curb growth and cool inflation, state media reported Monday, citing top government officials.
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China&#39;s domestic demand remains strong but underlying inflationary pressures are limited. This reduces the possibility of further drastic macroeconomic measures to cool down the
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China is filthy and needs to spend lots of money to clean up. American companies could get that business.
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A soft landing for China&#39;s booming economy was not yet a sure thing, the International Monetary Fund said on Wednesday, despite a raft of measures by Beijing to slow investment in overheated sectors.
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Pressure is growing on Beijingâs financial leaders to tap their foreign exchange reserves for social spending.
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China will step up controls on investment in power plants, despite electricity shortages, to help ease pressure on coal supplies, state media reported Monday.
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China must step up the pace of economic  reforms because the rest of the world is growing impatient for  it to do so, U.S. Treasury Secretary Henry Paulson said on  Thursday.
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China needs to finish reforming its fragile banks before it ends capital controls that limit free trading of its currency, the country&#39;s banking regulator said Wednesday.
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China's premier Thursday called for deepened financial-sector reform to improve the country's investing environment.
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China can manage to slow its roaring economy to a sustainable level, but only if it avoids loosening curbs on lending and investment too quickly, the International Monetary Fund said Wednesday.
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The Chinese government orders some prices to be frozen as it battles to contain the country's inflation.
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China must step up the pace of economic reforms because the rest of the world is growing impatient for it to do so, U.S. Treasury Secretary Henry Paulson said on Thursday.
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(InfoWorld) - China now spends more on research and development than Japan, but still only invests a little over a third as much as the U.S., according to the OECD. Although China's economy is growing at between 9 percent and 10 percent a year, its R&D spending is growing even faster, the Organization for Economic Co-operation and Development said Monday. OECD member countries need to stimulate innovation in new ways, and make their research processes more efficient if they are to compete, the organization warned. U.S. R&D spending this year will total $338 billion, compared to China's $136 billion and Japan's $129 billion, according to OECD estimates. The 15 original member states of the European Union will spend $233 billion on R&D this year, the OECD said, assuming that the countries' spending continues to grow at the same rates as between 2000 and 2004. The OECD's figures, drawn from its report "The Science, Technology and Industry Outlook 2006," show that 926,000 researchers are involved in China's R&D efforts, an increase of 77 percent between 1995 and 2004, while in the U.S. the figure is just over 1.3 million: China has two-thirds the number of researchers for only one-third the spending. Although the OECD compares figures for national R&D spending, a growing proportion of that investment comes from other countries, thanks to multinational companies. More than 16 percent of business-funded R&D in the OECD was performed by foreign affiliates in 2004, the organization said, up from 12 percent in 1993. The share of inward R&D funding exceeded 40 percent in five countries: Australia, the Czech Republic, Hungary, Ireland, and the U.K. While countries compete with one another to attract this inward R&D investment, they are also competing for researchers, and the political issue of human resources is taking on greater urgency, the OECD said. The U.S. now has 9.3 researchers per 1,000 in the labor force, compared to 10.3 in Japan and only 5.8 in the 25 member states of the European Union. Replacing those researchers, or increasing their numbers, will get harder: Fewer students are graduating in science and technology subjects in Denmark, Finland, Germany, Hungary, Italy, South Korea, and the U.S., the OECD found, and in the U.S. the number of doctoral students enrolling is also falling. The European Union now produces more doctoral graduates in science and technology than the U.S. -- but it is the U.S. that offers them the most jobs: half of the 46,716 post-doctoral positions open in 2003 went to foreign graduates, the OECD noted. The OECD has 30 members states "sharing a commitment to democratic government and the market economy." The members include Australia, Japan, Mexico, New Zealand, South Korea, Turkey, the U.S. and 18 European countries including France, Germany, Italy and the U.K. The OECD Web site offers further details of the report.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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President George W. Bush and U.S. lawmakers on Thursday pressed China for more action to cut its trade surplus but Vice Premier Wu Yi pushed back, saying the Chinese currency was not the main reason for the gap and that Washington should ease high-tech export curbs.
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U.S. Treasury Secretary Henry M. Paulson Jr. said that China needed to quicken the pace of its economic reforms.
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Seeking to reassure those nervous about foreign takeovers, the head of Chinaâs government investment fund said Thursday that China would invest mostly in portfolios.
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BEIJING, March 5 -- China announced Sunday that it will increase military spending at a sharply higher rate this year, budgeting a rise of nearly 18 percent, and a senior U.S. official immediately called for clarity on the planned expenditures.