Monthly Archives: November 2009
Shanghai Takes Another Step Towards Being An International Financial Centre
In another sign of the intent to develop Shanghai as an international financial centre, the People’s Bank of China says it has set up an interbank clearing house in the city. These handle wholesale payments for financial institutions. London, New … Continue reading
China Commits To Its First Firm Carbon Target
If the U.N.’s Copenhagen Climate Summit does only one thing, it will have been to get China to commit to its first firm target to curb greenhouse gas emissions. Unfortunately, the goal that Prime Minister Wen Jiabao will take to … Continue reading
Filed under Environment
Beijing Tries To Close Hot Money Loopholes
New rules on individual’s foreign currency transfers have been announced. The State Administration of Foreign Exchange says any person or organization outside China cannot send foreign currency to more than four Chinese individuals on a single day or consecutive days. … Continue reading
Two Tainted Milk Powder Middlemen Executed
The death sentences imposed on two of the 21 people found guilty in connection with last year’s melamine-tainted infant formula scandal have been carried out, Xinhua reports. Cattle farmer Zhang Yujun, who sold more than 770 tonnes of the tainted … Continue reading
Filed under Product Safety
Another Deadly Blast In A Chinese Coal Mine
Another deadly day in the world’s deadliest mining industry. At least 42 miners are dead and 66 trapped following an underground gas blast at the state-owned Xinxing colliery in Heilongjiang, 250 miles northeast of Harbin near the Russian border. Xinhua … Continue reading
Filed under industry
The Slow But Sure Rise Of Western China
Western China’s economy is growing half as fast again as the economy as a whole. Xinhua reports a 12.5% growth in regional GDP in the first nine months of this year, with retail sales up 19%, also outstripping the national … Continue reading
Filed under Economy, Politics & Society
Slow Going On Fighting Corruption
China ranks 79th out of 180 on Transparency International‘s latest annual rankings of how corrupt countries’ public sectors are perceived to be. Its score of 3.6 is equal to Burkino Faso, Swaziland and Trinidad and Tobago. Top ranked New Zealand … Continue reading
Filed under Politics & Society
Heavy Snows Move South
Beijing’s earlier than usual snowfalls may be melting but across north China the heavy snows have left 32 dead, destroyed 7 billion yuan-worth of winter crops and caused 15,000 building to have collapsed, Xinhua reports. The death toll excludes deaths … Continue reading
Filed under Politics & Society
