| TUESDAY FEBURARY 22 2000 PUBLISHED BY CHINA DAILY | |||||
| BUSINESS | |||||
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Launch of e-dictionary aids learners Pact to help China Shipping prosper Foreign firms key to e-business Exhibition business faring well Show scheduled to boost boat industry CCB kicks off salary reform ICM confident in the China market By Song Ning THINNING hair caused by TV advertising to play bigger role Housing fair planned for April |
'No growth' forecast for cargo market INSIDERS predict the composite freight index for China's shipping market will not rise in the upcoming after-the-festival slack season. The Shanghai Shipping Exchange yesterday reported the index was 1,138.5 points, a drop of 0.4 per cent over last week. "But many shipping companies are still making preparations for the possible new cargo peak," said Liu Xiaoliang, an exchange spokesman. The companies believe the shipping market is set to boom again. The conclusion is based on an economic report by US President Bill Clinton which predicted the US economy will grow by 2.9 per cent this year. "Although its economy has increased for 107 months, it still shows no signs of decreasing," Liu said. China's trade with the United States reached about 61.5 billion yuan ($7.4 billion) last year, up 12.1 per cent over the previous year. Of the trade, exports took up 41.9 billion yuan ($5 billion), representing 21.5 per cent of the nation's total exports. "The United States has become China's largest export market," he said. Many shipping companies are researching the market between Asia and the US East Coast and planning to open new services. "The Asian market is promising, though its economy is affected by a trade deficit," Liu said. Copyright 2000 by Shanghai Star. All rights reserved. |
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