An economic system is a mechanism (social institution) which deals with the production, distribution and consumption of goods and services in a particular society.

The economic system is composed of people, institutions and their relationships. It addresses the problems of economics, like the allocation and scarcity of resources.

The division of economic systems

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Business - People's Daily Online

QQCTU joint venture holds contract signing ceremony
The contract signing ceremony of Qingdao Qianwan United Container Terminal Company (QQCTU) was held in Qingdao on December 18. &$ &$The signing ceremony&$&$ QQCTU, with total assets of about 7 billion Hong Kong dollars, is a joint venture operating four container berths of the fourth phase project of the Qingdao New Qianwan Container Terminal Company (QQCTN) and five container berths of the China Me ...
China's social insurance revenue tops $200 bln
China's social insurance revenue has topped 1.36 trillion yuan (200.2 billion U.S. dollars) by the end of November, up 14.8 percent from the same period a year ago, official figures showed Friday. As the core of the nation's social security system, social insurance involves five categories of pension, unemployment, medical, work injury and maternity insurance. Pension insurance has covered 232.38 million urban residents by the end of last month, and the insurance income for urban ...
China Merchants, Qingdao Port form JV: newspaper
Port operator China Merchants Group and Qingdao Port would be setting up a 6.22 billion yuan (911 million U.S. dollars) joint venture to build and operate a container terminal in Qingdao of East China's Shandong province, China daily reported on Saturday. Qingdao Port and China Merchants Holdings (International) Ltd, will hold stakes of 50 percent each in the new venture. The venture called Qingdao Qianwan United Container Terminal Co. Ltd. will develop, operate and manage a tota ...
Gold bounces from one-month low as dollar pares gains
Gold futures on the COMEX Division of the New York Mercantile Exchange recovered from a one-month low on Friday as dollar retreated and oil rallied. Silver and platinum both ended higher. The most active gold contract for February delivery rose 4.10 U.S. dollars, or 0.4 percent, to finish at 1,111.50 dollars an ounce. Fueled by S&P's downgrade of Greece's credit rating and the possibility of more downgrades of Euro Zone sovereign debt, dollar surged to a fresh 3-month high on Fri ...
Gold bounces from one-month low as dollar pares gains
Gold futures on the COMEX Division of the New York Mercantile Exchange recovered from a one-month low on Friday as dollar retreated and oil rallied. Silver and platinum both ended higher. The most active gold contract for February delivery rose 4.10 U.S. dollars, or 0.4 percent, to finish at 1,111.50 dollars an ounce. Fueled by S&P's downgrade of Greece's credit rating and the possibility of more downgrades of Euro Zone sovereign debt, dollar surged to a fresh 3-month high on Fri ...
California's unemployment rate drops slightly
California's unemployment rate fell slightly in November, another sign that a recovery is underway, even as the U.S. state shed jobs from its payrolls, according to figures released on Friday. The state's jobless rate fell to 12.3 percent in November, down from October's 12.5 percent, the Bureau of Labor Statistics said. Still, California cut 10,200 jobs from its payrolls in November, a month after adding jobs for the first time since April 2008, said the bureau. The une ...

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