Obama in China: Long gone, and still headlinin'
Protest in Guangzhou: Why would you burn garbage?
Barbie Spa: For the cosmopolitan plastic beauty in you
Interview: Coco Zhao, from jazz to M. Butterfly
Week Around the Ists
The People's Congress is expected to pass an Anti-Trust legislation today, the first of its kind in China, and one, 13 years in the making. For those that are law buffs, Fortune has a nice article here, with some in-depth analysis. We, not exactly students of jurisprudence, have only one question in mind. Will the powers that be stop China Mobile from charging us extortionist rates? Where are our free "night and weekend" minutes? Where are our free "in network calling"? Ok, that's more like three questions.
China's Ministry of Finance issued 600 billion yuan (US$79 billion) of 10 year notes yesterday, first to the Bank of Agriculture. BoA then immediately resold the bonds to the People's Bank of China(PBoC), the nation's monetary policy board. Hmm, high stake money laundering? The issuance is the first in a three part sale. Two more issuances of 600 billion yuan and 350 billion yuan will be forthcoming. All proceeds will go toward funding a state run investment company, modeled after Singapore's Temasek Holdings. The company has already made its first investment back in May, a USD $3 billion splurge in US private equity giant Blackstone(BX). The stake is already down 20% or USD $600 million. Here's to better luck next time.
Lastly, a senior official from the aforementioned PBoC said that the central bank is committed to "actively curbing food prices". Let's see, in years past, the same body has vowed repeatedly to rein in run away real-estate prices and curb lending and liquidity flow, and yet China's real-estate market continues to bubble up and loan origination volume goes up 20 percent plus year over year. Oh my god, food prices are going to fly, time to start hoarding! And by the way, wouldn't the Department of Agriculture have a better handle on adjusting food prices? Just a thought.
Crossposted to Whampoafn
add to stumble upon
add to reddit
post to facebook
First off, that pictures looks like a vagina.
Second, I don't know what the hell your talking about when you say00 expensive rates from China Mobile. Perhaps you should spend some time in the Western world. It's actually cheaper for me to call North America long distance from China on my mobile than it is for someone in Canada to make a local call on their mobile. Don't even get me started on the data rates. We've got it super good in regards to mobile rates here, especially considering that it's a government controlled duopoly. All they need to do is get some 3G on the roll!
There is some validity to your first point.
As for the second part, yes, if you dial 12593 then the number, calls to NA is only 0.4 yuan/min, but has it occurred to you that maybe using the calling rate to NA isn't the optimal measure of China Mobile's value proposition?
For example, calls to Beijing are 0.7 yuan/min, you could dial 17951 then the number and get it down to 0.3 yuan/min, but few people do. Then there is roaming charge. Anywhere outside of your home area, you are charged an extra 0.5 yuan or so per minute. Add in txt messages, it's not too difficult to rack up 200 kuai monthly phone bill(and possibly much much more). And u don't even get a voice mail box(which is of course extra). While u may think 200 kuai is cheap by NA standard, but this isn't NA, and value in this case should only be considered in the context of a renminbi ecosystem.
As for that bit 'bout local calls in Canada, if u are using an "anycall" minute as the basis of your argument, then it's not a fair comparison. The cost of an "anycall" minute isn't the total package cost divide by the number of minutes. You have to figure in the other "free services".
One last thing, next time you try to make a counterpoint. Try not to start off with a douchebag line like "Perhaps you should spend some time in the Western world."