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Experts view numbers as evidence of higher consumer confidence

China's retail sales surged to record highs over the week-long Spring Festival, as tourist attractions also reported strong visitor numbers.

According to the latest data from the Ministry of Commerce, total retail sales were 14.7 percent ahead of last year, hitting 539 billion yuan ($86 billion) from last Saturday to Friday.


The legislation passed by the US to avoid the "fiscal cliff" will benefit the Chinese economy in terms of boosting exports and reducing the devaluation risks of China's US debt holdings, but will bring imported inflationary pressure to China, experts said Thursday.

US President Barack Obama signed the "fiscal cliff" legislation into law Wednesday in Hawaii, after the Republican-led House of Re
CONSUMER confidence in Shanghai rose in 2012 from a year earlier on a recovering economy and better products provided in the city, a survey showed yesterday.

The Index of Consumer Sentiment rose to 70.12 last year from 68.89 in 2011, indicating more consumer confidence and better consuming experiences among local residents, according to Shanghai University of Finance and Economics.

A readin
CHINA'S Consumer Price Index, a main gauge of inflation, rose 2 percent in November, up from the previous month's 1.7 percent, the National Bureau of Statistics said yesterday.

October's figure was a 33-month low and last month's increase was the first acceleration since August.

"The November growth rate was largely attributable to a surge in food costs," said Wang Jun, an expert with the C
EUROZONE exports fell in the fourth quarter for the first time in more than three years, and investment declined as the sovereign debt crisis pushed the region deeper into a recession.

Exports from the euro area shed 0.9 percent in the last three months of 2012, helping drive gross domestic product down 0.6 percent, the European Union's statistics office said in a report yesterday. Exports las
CHINA will continue to pursue a quality economy driven more by consumption than by exports or investment to leave more leeway for economic restructuring, Premier Wen Jiabao said yesterday.

The government is eying a growth target of 7.5 percent this year, Wen told the opening session of China's top legislature, the National People's Congress.

It was the second consecutive year China had set
Third increase this year reflects resolve to fight inflation scourgeThe central bank announced on Wednesday that it will increase interest rates, for the third time this year, by 25 basis points. The new rates take effect on Thursday.The rate paid on one-year deposits will rise to 3.5 percent and the rate for one-year loans will rise by the same margin, to 6.56 percent, it said.
FOREIGN direct investment in China fell 5.4 percent from a year earlier in November, widening from October's drop of 0.24 percent, the Ministry of Commerce said yesterday.

The total value of overseas investment stood at US$8.29 billion, the sixth consecutive month of year-on-year decline.

In the first 11 months, foreign investors channeled a total of US$100 billion into China, down 3.6 perc

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