BEIJING — China’s government vowed Friday that it will not deviate from its socialist path, defending anew its authoritarian system and saying Western capitalist political systems are not suitable for China. China’s top legislator, Wu Bangguo, said in a report delivered to the annual National People’s Congress that China needs to keep to the socialist...
by Zhou Yan BEIJING, March 10 (Xinhua) — Rigzin Losel is forever grateful for his teachers at the schools in his home county of Nyagqu in Garze, a Tibetan autonomous prefecture in southwest China’s Sichuan Province. Many of them were Han people — college graduates from big cities who were encouraged by late Chinese...
Stephen Roach, former chairman of Morgan Stanley Asia. Photographer: Jin Lee/Bloomberg Concerns that China will enter a so- called hard landing are “vastly overblown” even as economic growth becomes more unbalanced, according to Yale University Professor Stephen Roach. China’s government has done a terrific job in controlling inflation, Roach, former non-executive chairman for Morgan...
BEIJING, March 9 (UPI) — China’s state-owned energy company Sinopec announced that natural gas was flowing from a series of shale deposits in Sichuan province. China Petroleum and Chemical Corp., or Sinopec, announced that its wells in the Yuanba field were producing around 17,900 cubic feet of natural gas from shale deposits in central...
China’s annual inflation rate fell to a 20-month low in February, giving policymakers room to ease lending at a time of slowing economic growth. “The inflation story is over, leaving with fewer excuses not to step up its easing efforts, especially given a sharp slowdown in exports so far this year,”...
BEIJING — Twice as many firms in China are eager to list on the stock market now compared to a year ago as rising Asian share prices rebuild confidence among businesses, the head of JPMorgan’s arm in the country said on Saturday. Fang Fang, chief executive officer for JPMorgan China, said companies were mulling an...
By Nick Edwards and Koh Gui Qing BEIJING | Sat Mar 10, 2012 11:14am IST BEIJING (Reuters) – China’s trade balance plunged $31.5 billion into the red in February as imports swamped exports to leave the largest deficit in at least a decade and fuel doubts about the extent to which frail foreign demand...
KAMPALA, Uganda When the new Chinese-funded African Union headquarters was unveiled last month in Addis Ababa, Equatorial Guinea’s president, Teodoro Obiang Nguema Mbasogo, hailed the $200 million spectacle of marble and glass as “a reflection of the new Africa.” Ethiopian Prime Minister Meles Zenawi called it a symbol “of the African renaissance.” Indeed, China’s...
Leaders of China and India, two of the world’s biggest economies, are responding to a decline in their nations’ blistering rates of growth by focusing on virtually identical ways to stimulate bank lending and regain financial momentum. China has been growing at more than 10 percent and India at more than 8 percent, but...
China has repatriated all 31 North Korean refugees it arrested last month despite international pressure against the move, refugee advocates in South Korea said Friday. The advocates say the refugees could suffer abuse or even execution for fleeing North Korea during the mourning period for its late leader Kim Jong-Il. Do Hee-Yun, head of...
