Monthly Archives: March 2011
China Cracks Down On Imported Power Kerosene Tax Dodge
One consequence of high oil prices has been a resurgence of the smuggling of oil products such as gasoline, diesel oil and kerosene. 21st Century Business Herald (via Caijing) reports that staff from the Beijing operations of two Swiss-based commodity … Continue reading
Filed under Uncategorized
Hundreds Of Quakes Continue To Jolt Asia
Two 7.0 magnitude earthquakes struck northeastern Myanmar within a minute of each other today (the red box on the map above), not too far from the area in southwestern China hit by a 5.8 magnitude quake on March 10 which … Continue reading
Filed under Environment
China’s Rail Embezzlement Lite
The surprise about the finding of state auditors that 187 million yuan ($28.5 million) had been embezzled by individuals and construction companies working on the Beijing-Shanghai high-speed rail line is that the sum is so small. The estimated cost of … Continue reading
Filed under Transport
China Cracks On With Nuclear Power Plant Construction
The pause for breath in China’s ambitious nuclear development program announced following the crisis at Japan’s Fukushima Daiichi plants appears to have been no more than a single intake of air. Barely a week after Beijing suspended approvals of all … Continue reading
Filed under energy
Another Call For Reform Of China’s Local Government Finances
Another voice is added to those saying that reform of local government finances is the keystone to the “great rebalancing” of China’s economy. Sri Mulyani Indrawati (left), a World Bank managing director and former finance minister of Indonesia, told the … Continue reading
Filed under Uncategorized
Sinopec Chairman Su Shulin Said To Be Next Fujian Governor
The Financial Times reports that authoritative sources in Beijing are telling it that Su Shulin (left), chairman of state oil giant Sinopec, is to become governor of Fujian province, a plum post Xi Jinping, the assumed successor to President Hu … Continue reading
Filed under Politics & Society
Maintaining China’s No-Dissent Zone
“Turmoil in Libya worsens as West launches attack” is Xinhua’s headline in the wake of the French, American and British air strikes to enforce the U.N.-sanctioned no-fly zone in Libya. Its reports play up the civilian casualties announced by the … Continue reading
Filed under Politics & Society
Would You Catch Corrupt Practices In Your Firm?
We suspect that IBM’s $10 million settlement with the U.S. securities regulator over accusations that it gave cash and gifts to Chinese and South Korean government officials in violation of the U.S. Foreign Corrupt Practices Act represents business as usual … Continue reading
Filed under China-U.S.
China Raises Banks’ Reserve Ratios Again As Inflation Persists
Persisting inflation has led China’s central bank to raise bank’s required capital reserves for the third time this year. Reserve requirements will increase by half a percentage point effective March 25th, the People’s Bank of China has announced, taking them … Continue reading
Filed under Economy
