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October 29, 2007
Yu Zhengsheng replaces Xi Jinping as Party head in Shanghai [Xinhua] Xi Jinping no longer serves concurrently as the Party secretary of the Shanghai Municipal Committee of the Communist Party of China (CPC). The post is now held by Yu Zhengsheng, according to the CPC Central Committee.Boom in China's coal... [continue]
| October 28, 2007
Every now and again you'll find something in the Indian press about China in which they fawn over Shanghai as the symbol of all that is going right with China. We recently came across more of these observations, no doubt occasioned, at least indirectly, by the recent launch of China's... [continue]
October 26, 2007
Industrial and Commercial Bank of China(ICBC), the world’s largest bank by market capitalization, is buying 20 percent of South Africa’s Standard Bank Group Ltd. Standard Bank is based in Johannesburg and has branches in 18 African nations. The USD $5.5 billion price tag marks the most expensive overseas investment by... [continue]
October 25, 2007
Excitement is palpable among the crowd as China launched its first lunar orbiter, the Chang'e One satellite (named after the goddess of the moon 嫦娥), half a century after the Russians became the first to set out to space. Related links LA Times: China launches its first lunar orbiter Sydney... [continue]
October 24, 2007
This story dated October 12, 1964 comes from Michael Manning who's blogging from Xinjiang in The Opposite End of China. He found it while fiddling around with the The New York Times Archive which now allows subscribers to access news reports from as far back as 1851. Interesting look into... [continue]
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October 22, 2007
For those keeping scores at home, and we know you are, this is now the third installment on the on-again, off again love affair between Bear Stearns and the Chinese government sponsored investment firm, CITIC. At this point, we don't know what or whom to believe. Dow Jones Newswires broke... [continue]
Today's Links: Shanghai's love of luxury, the party leadership reshuffle and China's surplus of sons
Shanghai surprise as luxury goods addicts flash the cash in red China [The Telegraph] Luxury goods addicts seem to have added Shanghai to the list of must-visit cities if the shopping buzz is anything to go by, says Mark Kleinman.China sets up party leadership reshuffle [Financial Times] China’s Communist party... [continue]
October 20, 2007
Earlier this week, we told you that a Chinese state owned bank is in talks to buy a stake in US investment bank, Bear Stearns. Apparently, we got some bad info, well actually Dow Jones Newswires got some bad info. See what happens when Rupert Murdoch gets involved? Anyway, today,... [continue]
According to Bloomberg News, finance ministers of the G7 nations, currently meeting in Washington are once again expected to issue a strongly worded statement prodding China to do more with an undervalued yuan. The traditionally US championed trade tussle is getting some very vocal support from the Europeans and the... [continue]
October 19, 2007
Chinese property tycoon buys "Shanghai Island" in Dubai [IHT] Hu Bin, a Chinese property tycoon said Wednesday he has paid US$28 million (€20 million) to buy an artificial 40,000 square meter island in Dubai — which he plans to call "Shanghai Island" — is part of a development called "The... [continue]
October 17, 2007
Bear Stearns, the troubled US investment bank may soon find the People’s Republic of China among its key shareholders. According to Dow Jones Newswires, Jiang Dingzhi, vice chairman China Banking Regulatory Commission confirmed reports of China Citic Bank holding preliminary discussion with Bear Stearns for a stake in the Wall... [continue]
October 15, 2007
This painting is called Execution. Along the entire backdrop is a long, red wall which reminds one of the wall outside the Forbidden City. Yet Yue Minjun, the artist, who is based in Beijing, insists his painting should not be seen as depicting that unspeakable event of 1989. Billed... [continue]
Looks like we spoke too soon. Just when we told you that Chinese media were getting the hang of the art of spin, look what we found in today's Shanghai Daily. Not one, but two pieces of pure, unadulterated propaganda that would make any Xinhua editor blush. Oh wait a... [continue]
Bottom line is China's new party line [AP] Christopher Bodeen of AP looks at Li Keqiang's chances of becoming the heir to President Hu Jintao.China's Communists to Elect New Leadership at 17th Congress [Bloomberg] China's Communist Party delegates will gather at their 17th Party Congress this week to amend... [continue]
October 12, 2007
Left: The gods must be crazy. Due to sudden cold winds descending upon Shaanxi (陕西), it's already started snowing in Yulin (榆林) and Yan'an (延安). In some parts of town, 3-5cm of snow has been recorded, and meteorologists are saying that snow will continue to fall over the next... [continue]
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October 12, 2007
Alibaba.com, China’s largest B2B commerce site is going public in Hong Kong in a few weeks. With the current frenzied market back drop, and Alibaba’s tremendous earning power (Goldman Sachs’ analyst pegs the site will earn a net profit of USD $83.8 million this year, up 186 percent from last... [continue]
2,000 sex-related ads dropped from Chinese television and radio [People's Daily] About 2,000 advertisements adjudged to be sexually suggestive have been dropped from television and radio broadcast across China over the past two weeks, the State Administration of Radio, Film and Television (SARFT) said on Wednesday. Work on Beijing-Shanghai high-speed... [continue]
October 10, 2007
Guangdong Province is mulling a new law that will categorise all jobs into "encouraged", "restricted" and "forbidden" for foreigners in a bid to restrict the employment of foreigners and to ban them from certain jobs. Xinhua elucidates:For jobs in the "encouraged" category, the potential foreign employees will be issued permits.... [continue]
October 9, 2007
Chinese investors came off of the October golden week in a buying mood. The A share market gapped higher and never looked back. At mid day break, the Shanghai Composite Index is up 3 percent, or 166 points at 5718, yet another record high. Speaking of buying, over the weekend,... [continue]
October 4, 2007
China's growing web addiction [CBNnews.com] The Internet has revolutionized the way that millions in China communicate with the outside world. But for some Chinese teenagers the thrill of using the Internet came with a high price: addiction. China bloggers stew about Olympic pigs [Wall Street Journal] In recent weeks, news... [continue]
October 1, 2007
China unleashes cautious giant onto world's financial markets [AFP] The low-key ceremony that marked the launch of China Investment Corp. this weekend could reflect the cautious manner in which Beijing intends to unleash the largest fund in history onto the world's financial markets. Irish charity calls for boycott of Beijing... [continue]