The People’s Bank of China “will continue to implement prudent monetary policy” and “ensure the continuity and stability” of policy in 2012, Governor Zhou Xiaochuan said. The central bank will also “continue to deepen financial reform, accelerate the development of financial markets, and strengthen and improve foreign exchange management,” Zhou said in a New...
BEIJING (Reuters) – A maritime court in the northern coastal city of Tianjin on Friday accepted a case of compensation claims from aquaculture farmers against the China unit of ConocoPhillips, Xinhua News Agency reported on Friday. More than 100 fishermen filed the lawsuit early this month in Tianjin against ConocoPhillips China, seeking 490 million...
The press had two reactions to the low China PMI figures. Each was based on the experts interviewed. One school of thought is that the numbers were low, but not terribly so. This school says China’s economy shows signs of a soft landing.The other school says any PMI dip at all is a signal that the economy...
EPA A big-budget blockbuster about the Great Wall is now in jeopardy. In China, not all movie projects have Hollywood endings. Four months ago, a Hong Kong construction firm unveiled plans to invest $220.5 million in a new Hollywood-China joint venture that was supposed to develop a slate of big-budget pictures, including an epic...
Coupled with China’s earlier vows to build a space station and put an astronaut on the moon, the plan conjured up memories of the cold-war-era space race between the United States and the Soviet Union. The United States, which has de-emphasized manned spaceflight in recent years, is now dependent on Russia for transporting its...
BEIJING — China’s most wanted man, who was deported from Canada in July after a decades-long legal battle, has admitted to his crimes and will now be handed over to prosecutors, state media reported on Friday. Beijing had sought the deportation of Lai Changxing for years, accusing him of running a multi-billion dollar smuggling...
SHANGHAI (Reuters) – The Chinese government is working with domestic Internet search engines like Baidu Inc and Sohu.com and financial institutions to prevent phishing attacks on unsuspecting Chinese web users. The Ministry of Public Security said on Friday it would work with 10 Chinese search engines to protect the website rankings of financial institutions...
BEIJING (Reuters) – China urged peace and stability on Thursday after Tehran threatened to punish proposed Western sanctions by choking off oil flows through the Strait of Hormuz, but declined to make any other comment about the crisis. The foreign ministry’s terse, one sentence public response to Tehran’s threats over the world’s most important...
BEIJING: A spate of self-immolations by ethnic Tibetans in China over the past few months in protest at government controls will never succeed in forcing any policy changes, a senior Chinese official was quoted as saying in remarks published on Friday. Twelve Tibetans have set themselves on fire so far this year, all but...
