China will launch an inquiry into whether to impose countervailing duties on potato starch imports from the European Union, the commerce ministry said on Monday, its first such proposed action against the 27-nation bloc.
The ministry anounced the investigation on its website (www.mofcom.gov.cn), saying Beijing would examine the size of subisides for potato starch from the EU, its biggest trade partner, and whether they harm the Chinese industry.
The number of anti-dumping and countervailing cases initiated by China against other countries and vice-versa is rising, a sign of increasing trade friction following the global financial crisis.
Many of China's trade partners would like to see faster appreciation of the yuan, saying that an undervalued currency gives Chinese exporters an unfair competitive edge.
The United States has been particularly vocal in its criticism of China's currency policy, but the EU has also become more outspoken recently.
The EU thinks China has made only limited progress in allowing the yuan to appreciate and swifter action would help safeguard a fragile economic recovery, according to a draft G20 document obtained by Reuters.
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.
The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.
Experts state that the crisis poses risks to the region, which is significant for oil production and exports in the world.
Federal Reserve removes word 'patient;' interest rate increase expected within months. Yellen says timing of rate rise 'not decided,' but will come anytime after April; holds current rates at 0 to 0.25 pct.
Many emerging-market currencies have fallen against the dollar in recent weeks
Anticipated Federal Reserve interest rate hikes making dollar strong against most emerging market currencies, Deputy Prime Minister Ali Babacan says.
European Statistical Agency says slight decline fuelled by drop in production of durable consumer goods.
EU will use all its foreign policy instruments to establish strategic energy partnerships with producing and transit countries.
Dollar strength and waning investor confidence are driving the lira lower
Greece has already received two bailouts totalling 240 billion euros but fellow euro zone member Ireland said last week that it would have to negotiate a third programme.
The Ukraine crisis has tested the loyalties of Bulgaria, a Balkan country with historical ties to Moscow and heavily dependent on Russian energy supplies.
Syria expels three United Nations aid workers hindering aid development in the country
Russia has overcome a "psychological barrier" and is ready to deepen its economic ties with China, Deputy Prime MinisterArkady Dvorkovich said
With Chancellor Angela Merkel's right-left coalition plus the opposition Greens, it was the biggest majority for any euro zone rescue package so far in the 631-seat chamber.