China's consumer-price index rose 3.8% in October from a year earlier, the National Bureau of Statistics said Saturday -- higher than a median forecast of 3.5% by economists polled by The Wall Street Journal, and far outpacing September's 3.0% reading. As it has all year, October's jump in consumer inflation was fueled by a rise in hog prices, the fastest on record, amid an outbreak of the deadly African swine fever. Soaring pork prices lifted overall food-price inflation to a more-than-11 year high, as consumer demand drove up prices for pork alternatives including eggs and other meat products. Even as the surge in food prices limits Chinese policy makers' stimulus options, prices of nonfood items and factory-gate prices continued to show signs of softness, pointing to weakening demand in the world's second-largest economy. Nonfood price inflation moderated further to 0.9% in October, from 1.0% in September. China's producer-price index dropped deeper into deflationary territory in … [Read more...] about China’s consumer inflation hits nearly 8-year high
Vietnam china south china sea dispute
Both geologically and geographically, the Tu Chinh-Vung May (Vanguard-Rifleman) banks belong to Vietnam's continental shelf, Associate Professor Nguyen Chu Hoi, former deputy head of the Vietnam Administration of Sea and Islands, said at a conference in Hanoi Monday. The continental shelf refers to ledges projecting from the land into and under the sea, and the basic principle is that it is a continuation of land territory into the sea. As such, it is not geographically a part of Vietnam's Truong Sa (Spratly) Islands, Hoi said. He explained that geographically, there exists a large trench running along the northeast-southwest axis in the deep-water structure of the East Sea. Upon reaching the waters off Da Nang, it runs parallel to Vietnam's coast before running northeast toward Scarborough Shoal and into the Pacific Ocean. This trench therefore separates the Spratly Islands from Vietnam's continental shelf, where the Vanguard and Rifleman banks are, Hoi added. He added that the … [Read more...] about Vanguard Bank an extension of Vietnam’s land mass, beyond dispute: experts
Prime Minister Nguyen Xuan Phuc has hailed great efforts of both male and female national football squads at SEA Games 30. The PM held a reception in Hanoi to welcome the two football teams following their gold medals at the SEA Games arena on the evening of December 11 right after they returned from the Philippines. Prime Minister Nguyen Xuan Phuc takes photos with the teams at the Government Office on December 11 This is the first time the Vietnamese men’s football team has won gold medal at the SEA Games in 60 years. Speaking at the meeting, PM Phuc said that people nationwide shared the achievement of the teams. "I saw thousands of people in the southernmost province of Ca Mau gather to cheer on the men’s football team in the final clash," he said. Many HCM City streets were quite deserted on early Wednesday morning as people were sleeping after staying up overnight to celebrate the football triumph. PM Phuc expressed the deep thanks to coaches Park Hang Seo and … [Read more...] about PM praises national football team victories at SEA Games
The high production costs, taxes and fees all make automobile prices in Vietnam much higher than in other countries in the region. At the government’s November regular press conference, the local press raised questions about the tax and fee policies, saying that automobile manufacturers complain about current policies put difficulties for them to compete with imports and increase the localization ratio. Deputy Minister of Industry and Trade Do Thang Hai said the car prices in Vietnam are higher than inother countries because the domestic production cost is higher. The high taxes and fees also push the prices up. VinFast, a 100 percent Vietnamese owned automobile manufacturer, days ago announced the automobile price structure. A VinFast Lux A2.0 standard version has the cost price of VND980.6 million, including VND640 million worth of materials, VND59.2 million worth of shipping fee and import tax, VND54 million worth of manufacturing cost, VND5.9 million worth of … [Read more...] about When will cars in Vietnam be cheaper?
Trong, who is also the country’s president, was speaking Monday morning at the ongoing 11th plenary meeting of the committee, the highest authority within the Communist Party of Vietnam. He also said the committee has to foresee what could happen in the coming time in the East Sea, also known as the South China Sea, to get the nation "prepared for possible opportunities and challenges." Earlier this month foreign ministry spokeswoman Le Thi Thu Hang said Vietnam is in the process of verifying reports that a Chinese deepwater oil rig has been deployed in the East Sea. Meanwhile, Chinese oil survey vessel Haiyang Dizhi 8 and its escort vessels continue to expand operations in Vietnam’s exclusive economic zone and continental shelf. Vietnam has said this action seriously violates its sovereignty and jurisdiction rights conferred by UNCLOS, to which both Vietnam and China are parties. Also on the plenum’s agenda are other issues like a report on the implementation … [Read more...] about Vietnam leader wants Party to analyze East Sea situation