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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
CHINESE consumers continue to make a significant contribution to the wealth of the world's top luxury tycoons, according to a Hurun Research Institute report released yesterday.

The average wealth of the people on the Hurun Luxury Tycoon Rich List is double that of Hurun's global rich list, with the combined assets of the 33 wealthiest people in the luxury industry totalling US$289 billion, Hu
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
SHANGHAI will expand tax reform and improve fiscal structure to encourage healthy economic development even as the mayor warns the city faces problems in raising fiscal revenue this year.

The city will prioritize investment in innovation and infrastructure, boosting consumption, and supporting public welfare in its fiscal expenditure this year, Mayor Yang Xiong said at a municipality conferenc
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.


Villagers on the northern outskirts of Beijing prosper by swapping fruit trees for colored silk

The small village of Hongmiao in the Huairou district on the northern outskirts of Beijing is known as the "Lantern Village", as it is famous for making traditional Chinese lanterns. Farmers in the village, many of them women, were hard at work making red lanterns in the run-up to Spring Festival.

EXCESSIVE microbes, additives and pesticide residues were blamed for more than 99 percent of food contamination cases last year, the city's food safety watchdog said yesterday.

About 97 percent of food products such as cakes, salad, cooked food and bean products that failed quality checks had excessive microbes, the Shanghai Food Safety Office said.

Excessive microbes are caused by poor hyg
This was the landscape of the China BrandZ™ Top 10 Most Valuable Brands for 2011, with China Mobile on top of the list by $53,607 million, tailed by Industrial and Commercial Bank of China and China Construction Bank.

These three brands stay on the top of the list this year, despite their brand value declining, except for CCB.

Meanwhile, State-owned enterprises Agricultural Bank of China, B

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