From January to November, China bought imported 1.94 million tonnes of cotton, a decline of 9.1 percent from the year-earlier level.
The imports were valued at 3.24 billion U.S. dollars.
Since the second half of 2008, China's cotton imports have decreased each month. In October, imports plummeted 29.8 percent to 96,000 tonnes. That figure slid by 25.2 percent to 76,000 tonnes in November.
2009年1月29日星期四
2009年1月21日星期三
Mongolia expects economic success
After taking office in Sept. 2008, Prime Minister Sanj Bayar expressed his desire to speed up the exploitation of mineral resources to boost the economy and lead Mongolia into becoming one of Asia's developed countries.
Despite the dream, Mongolia is still a country with an estimated one-third of its population living below the poverty line. It has just gone through a difficult year which witnessed the country's GDP growth slowing down to 8.9 percent from 10.1 from a year earlier and its inflation rate rocketing to 21 percent.
Due to the global financial crisis in 2008, Mongolia's export-driven economy was impacted by declining international demand. According to a preliminary report of the Mongolian National Statistical Office, the country's industrial output increased by only 2.8 percent in 2008, a big drop from the 10 percent in 2007.
During the same period, Mongolia's foreign currency assets decreased by 39.8 percent and its trade deficit was 4.9 times that of 2007, the report said.
The Mongolian government will invest 378 million U.S. dollars in 2009 to promote production and consumption, and more mineral exploitation to ease financial difficulties. Parliament plans to revise the mineral resources law to allow for more automatic government stock shares in large-scale mining.
Officials said the government will map out and submit schemes regarding the exploitation of Oyutolgoi and Tavantolgoi by the end of February 2009 before the amendment of the mineral law so as to tap the resources as soon as possible.
Despite the dream, Mongolia is still a country with an estimated one-third of its population living below the poverty line. It has just gone through a difficult year which witnessed the country's GDP growth slowing down to 8.9 percent from 10.1 from a year earlier and its inflation rate rocketing to 21 percent.
Due to the global financial crisis in 2008, Mongolia's export-driven economy was impacted by declining international demand. According to a preliminary report of the Mongolian National Statistical Office, the country's industrial output increased by only 2.8 percent in 2008, a big drop from the 10 percent in 2007.
During the same period, Mongolia's foreign currency assets decreased by 39.8 percent and its trade deficit was 4.9 times that of 2007, the report said.
The Mongolian government will invest 378 million U.S. dollars in 2009 to promote production and consumption, and more mineral exploitation to ease financial difficulties. Parliament plans to revise the mineral resources law to allow for more automatic government stock shares in large-scale mining.
Officials said the government will map out and submit schemes regarding the exploitation of Oyutolgoi and Tavantolgoi by the end of February 2009 before the amendment of the mineral law so as to tap the resources as soon as possible.
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