China should reduce its reliance on overseas rating companies by encouraging large financial institutions to strengthen their research and make their own judgments, central bank Governor Zhou Xiaochuan said. The nation is also considering establishing credit-rating companies backed by the government, Zhou said at a financial forum in Beijing today. A copy of his...
AFP – Tenuous calm returned Saturday to a south China town that was the scene of violent clashes between police and protestors this week, after local residents said officials had agreed to a dialogue. Locals of Haimen township who had blocked a highway for a fourth day on Friday to protest a planned power...
Dec. 23 (Bloomberg) — China, the second-biggest corn consumer, may import more of the grain if global prices fall 19 percent to about $5 a bushel, a level that is significantly below domestic prices, said Yigu Information Consulting Ltd. China’s corn supply is sufficient after a record harvest and the government may import to...
Japan and China will promote direct trading of yen and yuan without using dollars and will encourage the development of a market for the exchange, to cut costs for companies, the Japanese government said. Japan will also apply to buy Chinese bonds next year, the Japanese government said in a statement after a meeting...
ZHUJI, China – Seven months pregnant, Wu Weiping sneaked out early in the morning carrying a shoulder bag with some clothes, her laptop and a knife. “It’s good for me I wasn’t caught, but it’s lucky for them too,” said Wu, 35, who feared that family planning officials were going to drag her to...
BEIJING — China’s government announced another cut in railway construction spending Friday amid concern about the debts of the world’s biggest rail network and the safety of its showcase bullet trains. Beijing will spend about 400 billion yuan ($65 billion) next year on railway construction, Railways Minister Sheng Guangzu said at an industry conference,...
Beijing: China will allow commercial use of its next-generation internet system by 2015 after putting it on trial in 2013, a media report said. The new system expands the capability of the Internet Protocol address and improves the speed of the internet. It is also expected to create employment, the Chinese cabinet said in...
Can you imagine a confirmed market uptrend that isn’t led by China’s top search engine, Baidu (BIDU)? That day may have arrived. And Baidu’s biggest problem may be China itself. Rapid growth, encouraged by some aggressive government actions, is catching up with the world’s biggest-ever emerging market. Threatened by rising inflation and a wild,...
WENZHOU, Dec. 24 (Xinhua) — Sixteen people, mostly senior executives of a state-owned enterprise, were tried by a court in east China for a massive graft case which involved 426 million yuan (67.6 million U.S. dollars), court officials said Saturday. Ying Guoquan, board chairman of Wenzhou Vegetable Basket Group, and his managers were accused...
ZHUJI, China — Seven months pregnant, Wu Weiping sneaked out early in the morning carrying a shoulder bag with some clothes, her laptop and a knife. “It’s good for me I wasn’t caught, but it’s lucky for them too,” said Wu, 35, who feared that family planning officials were going to drag her to...
