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Yiwu, a city in Zhejiang province well-known for its small commodity trade, plans to become an international special trade zone.

It's claimed, for instance, that six out of 10 Christmas trees sold in the United States come from Yiwu.

But Chen Yixin, the Party secretary of the city of Jinhua, which administers Yiwu, said he wants to build its imports, as well as its already-strong exports.

ALIBABA Group, which generated a massive "11.11" online sales on Sunday, holds a dominant share in the Chinese business-to-consumer (B2C) market, a research firm said yesterday.

Alibaba's Tmall accounted for 45.1 percent of the Chinese market by the third quarter, followed by 360Buy's 17.4 percent and Tencent's 3.5 percent, Beijing-based Analysys International said.

"Alibaba's Tmall expande
CHINESE and Australian central banks are considering direct trading between the yuan and the Australian dollar, central bank Governor Zhou Xiaochuan said yesterday.

If a deal is reached, the Australian dollar would be the third major currency allowed to be traded directly against the yuan, following the US dollar and the Japanese yen.

Other currencies used as intermediaries for China-Austra
THERE was excitement but a little heartache too for millions of bargain hunters yesterday as China's Singles Day evolved into what is probably the world's biggest online shopping event.

The 50,000-plus merchants on Alibaba's consumer-oriented Tmall.com took in 13.2 billion yuan (US$2.1 billion), the company said, after discounts of at least 50 percent were promised on a massive range of goods.
China has said it will impose anti-dumping tariffs on imports of stainless steel tubes from the European Union (EU) and Japan.

The duties, ranging from 9.2% to 14.4%, will be implement from Friday, China's ministry of commerce said.

Dumping refers to a process where firms allegedly sell goods at prices below fair market value.

China had previously imposed tariffs on some US steel allegin
THE yuan strengthened yesterday and hit the high end of the daily trading band for the eighth trading day after the central government pledged stable economic growth by 2020.

The yuan rose 0.01 percent from Wednesday to close at 6.2429 per dollar in Shanghai, stronger than the People's Bank of China's central parity rate by the maximum 1 percent allowed, according to the China Foreign Exchange
TECHNOLOGIES shown at World Expo 2010 in Shanghai will be used in the city's Disneyland theme park, officials told an international digital media technology forum in the city yesterday.

Disneyland, which is now under construction and will be finished in 2015, will have typical American features along with local characteristics, said officials from Shanghai Shendi (Group) Co, which represents t
RACTOPAMINE, a banned drug added to animal feed to increase weight gain, has been found in a pork sample in Shanghai as Food and Drug Administration officials admitted yesterday safety hazards remain in beef and mutton due to loopholes in monitoring.

Officials said it is more difficult to monitor mutton and beef because most of them are imported from other parts of the country or overseas, whe

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