China’s overall economic performance is better than expected, according to Zhou Xiaochuan, governor of the People’s Bank of China. Beijing’s top central banker expressed his optimism about domestic demand and financial stability in China at the International Monetary and Financial Meeting held in Washington. Mr. Zhou praised the immediate reaction and bold stimulus measures of the Chinese government as main causes of the positive economic performance.
China is set to overtake the U.S. as the world’s biggest wind-power growth market in 2009, according to industry insiders. While its total installed wind-power capacity is still less than half of that in the U.S., China is expected to add about 10,000 megawatts of capacity in 2009. The U.S. on the other hand may fail to match last year’s growth of 8,500 megawatts, mainly due to the recession and credit crisis.
Beijing and Taipei signed a number of agreements in Nanjing, accelerating the opening of financial services and direct investment between the two countries. The agreements, which also included direct flight connections and joint criminal investigations, follow in the new path of normalizing relations between the two former civil war rivals, after ten years without any formal exchange. More detailed memorandums especially for the banking sector are expected to follow within this year, according to industry analysts.