From our archives

March 23, 1984

Chongqing leads way in reform of commerce

The newly established trade in Chongqing city has helped smooth trade channels in southwest China and benefited other parts of the country.

With the development of commodity production, it is inevitable that such trade centers become more popular and speed up reforms of the existing commodity circulation system.

The trade center, which displays 30,000 varieties of goods, has received more than 10,000 customers and traders from 20 provinces and municipalities since it opened on January 10 this year.

The volume of trade has reached 51 million Yuan (about $25 million).

Japan now China's biggest lender

Japan has committed a total of $3.5 billion in loans in the past five years to become China's biggest lender, according to the Bank of China.

Among the larger deals are a $1.9 billion loan to finance China's energy development program and a $1.2 billion loan towards construction of two ports, a hydroelectric power station and railway projects.

In addition, the Japanese government gave $70 million to finance nine projects including the China-Japan Friendship Hospital.

(China Daily 03/27/2009 page9)