Goldman Sachs on Tuesday forecast an 8 percent to 20 percent increase in the price of a new washing machine in the next year, depending on how much of the tax is passed on to US consumers.
Gloomy results due to soaring housing prices and lackluster stock market
Government departments and enterprises took various steps last year to reduce the impact of reduced imports from the US. Moves included increasing imports from other countries, such as Brazil, and promoting the use of soybean substitutes in the feed industry to reduce demand, he said.
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Government support, technological progress, and a cultural emphasis on education have all contributed to a burgeoning online education market in China, said Liu Jiehao, an analyst at consultancy iiMedia.
Growth seen in yuan and dollar terms as overseas firms bolster investment
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Growth in consumer spending, which accounts for more than two-thirds of US economic output, was revised up to 1.3 percent, from 1.2 percent in a previous estimate. Consumer spending grew by 2.5 percent in the previous quarter.
Government officials, including Hui Jianlin, vice-governor of Jiangsu provincial, Helena Sangeland, Swedish ambassador to China, Jiang Min, deputy mayor of Wuxi city, attended the ceremonies, together with executives from AstraZeneca, such as Leon Wang, executive vice-president of AstraZeneca and president of its China arm, and Michael Lai, general manager of AstraZeneca China, and representatives from signing companies.
Green Plains, which counts heavily on Chinese demand for its fuel additive, rose 4.7 percent.
Guan Tao, a former senior official with the State Administration of Foreign Exchange, said the capital flows this year are expected to remain relatively stable, while uncertainties may exert some downward pressure to the yuan's exchange rate in the near term, including possible stronger dollar driven by possible US interest rate hikes and in particular, trade conflicts with the United States.