Yahoo! News: World - China

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• Lawmakers to relaunch China currency bill Thursday (Reuters)
• China prepares for 'severe, long-lasting drought' (AP)
• China to spur rice output as drought shrivels wheat (AFP)
• GM says January sales in China hit monthly high (AP)
• Taiwanese general detained on spy charges (AP)
• China raises rates to battle stubbornly high inflation (Reuters)
• China to stick to gradual tightening despite risk: Reuters poll (Reuters)
• General Motors China sales up 22.3% in January (AFP)

Lawmakers to relaunch China currency bill Thursday (Reuters) Posted: 09 Feb 2011 01:36 PM PST Reuters - A bipartisan group of lawmakers plan to begin a new drive on Thursday for China currency legislation that was approved last year by the House of Representative but failed in the Senate.

China prepares for 'severe, long-lasting drought' (AP) Posted: 09 Feb 2011 08:40 AM PST AP - Chinese officials said Wednesday they were preparing for a severe, long-lasting drought in several parched provinces, causing wheat prices to spike on the prospect of the world's largest consumer putting pressure on a global supply that's already squeezed.

China to spur rice output as drought shrivels wheat (AFP) Posted: 09 Feb 2011 05:27 AM PST AFP - China called Wednesday for higher rice output to offset damage to its wheat crop in the drought-stricken north and pledged $1 billion in spending to battle a problem the UN warned could be "very serious".

GM says January sales in China hit monthly high (AP) Posted: 09 Feb 2011 04:11 AM PST AP - General Motors Co. says its vehicle sales in China, the world's largest auto market, hit a monthly record high of 268,071 in January, though year-on-year growth was sharply lower.

Taiwanese general detained on spy charges (AP) Posted: 09 Feb 2011 04:07 AM PST AP - Taiwan has detained a major general on charges of providing military secrets to China, the defense ministry said Wednesday. Analysts said he may have compromised a vital military communications network that uses U.S. technology.

China raises rates to battle stubbornly high inflation (Reuters) Posted: 09 Feb 2011 03:37 AM PST Reuters - China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.

China to stick to gradual tightening despite risk: Reuters poll (Reuters) Posted: 09 Feb 2011 12:47 AM PST Reuters - China's central bank is poised to raise benchmark interest rates twice more in the first half of 2011 for a total tightening of 50 basis points, before keeping them steady for the remainder of the year, a Reuters poll on Wednesday showed.

General Motors China sales up 22.3% in January (AFP) Posted: 09 Feb 2011 12:27 AM PST AFP - General Motors said Wednesday that its sales in China, the world's largest car market, jumped 22.3 percent year-on-year in January to set a new monthly record.

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