Inflation

CHINA ought to curb inflationary pressures driven by rising labor costs by preventing an overly rapid increase in incomes, said National Bureau of Statistics Director Xie Fuzhan.

Speaking during the weekend, Xie said an overly rapid increase in incomes could “lead to an upward spiraling of prices and wages.”

China Aviation Oil

THE Singapore unit of China’s major jet fuel provider China Aviation Oil Group (CAO) has recovered from losses, according to CAO sources.

From 2006 to 2007, the Singapore unit made US$69.7 million in profits through the oil business and returns on other investments, CAO’s general manager Sun Li said Sunday.

The Singapore-listed company also paid liabilities four years in advance and issued high dividends, Sun said.