Results tagged “financialtimes”

One of the biggest threats to stability China could face is already starting to happen: millions of people, most of them migrant workers, are unemployed. Chen Xiwen, the vice head of the Central Finance and Economic Leading Group, released several disturbing figures on Monday (helpfully translated by Victor Shih):

Congratulations, Shanghai! CEIBS (the China-Europe International Business School), located in Pudong, just became the first MBA program in Asia ever to make the Financial Times' Top 10 list of business schools. It climbed to 8th place, from 11th place last year, and beat out both MIT Sloan and NYU Stern. According to the FT's statistics, 92% of CEIBS graduates get employed three months after graduation, and their salaries increased the fastest - by 179% three years after graduation. Topping the top ten was The Wharton School of the University of Pennsylvania and the London Business School.

Yesterday, we were tipped off on our Contribute page that an anti-maglev protest was going to take place today 2pm at People's Square. Apparently that has been derailed by the police. From Reuters:

Police in China's financial hub of Shanghai detained scores of people on Saturday after hundreds showed up to protest a planned extension of the city's magnetic levitation train, or "maglev", worried it would emit radiation.

Continue reading "Anti-maglev protests derailed"

77% of China Eastern shareholders have voted against Singapore Airline's proposed HK$7 billion bid for a 24% stake in it. Disappointed by the results of the vote, China Eastern chairman Li Fenghua has vowed not to ally with Air China:

"We will never consider Air China as a strategic investor. The most important thing is not the price. The most important thing is to improve China Eastern Airlines' brand and management."

Continue reading "China Eastern vote update"

By JFK Miller

Overheard in the comment section of our earlier story on the Chongqing cooking oil stampede was the opinion that the pushing and shoving here in Shanghai is much worse than in Chongqing. Agreed. We see so many potential stampedes happening here everyday and wonder why more people are not getting tromped to death on a daily basis here. But this story by the Financial Times tells us a similar cooking oil stampede that occurred right here in Shanghai two weeks ago, at Tesco's (which we have confirmed from other sources to be the one in Baoshan district). Fortunately, nobody died in that stampede, but 19 people, mostly housewives, did need immediate treatment at the hospital.

European efforts to encourage a speedier appreciation of the Chinese renminbi will step up a gear this month amid concerns the euro is bearing the brunt of global macroeconomic adjustments.

"Son preference" is a deep-seated, widespread problem in many cultures, but in China, the problem takes on a frightfully larger scope when "son preference" meets the notorious One Child policy, says Michael Fragoso.

Pigs are back in the headlines once again, and with a vengeance. Here is an interesting juxtapose of three pig-related news stories found via the informative China Digital Times.

As the convential wisdom goes, China will not respect other's intellectual property rights (IPR) until its own IPR needs protection. If this is true, then IPR in China recently took a significant step forward as the Financial Times is reporting that a litigious Shenzhen USB flash drive manufacturer Netac has hired Morgan Lewis & Bockius to sue New Jersey computer hardware manufacturer PNY Technologies for infringing upon Netac's patent for USB flash memory drives, or key drives (that's US Patent #6,829,672 for you IP boffins out there).

Chen was also suspended from the posts of member of the Political Bureau of the CPC Central Committee and member of the CPC Central Committee.

There is a Chinese business adage that goes something like, “Every company in China keeps four sets of financial books: one understated set for the government, a second set to satisfy the wife, a third set to impress the mistress, and the actual records for management." So much for GAAP compliance. Most generally, the point of this joke is that in the recent past, to put it mildly, China has been an extremely permissive operating environment, where there has neither been the will nor the means to enforce standards of accountability that are expected in the developed world.

The Los Angeles Times reports that Chinese children are being so unfilial these days that they have to fine them in order to get them spend more time with their elderly parents:

What do you do when you write a book about running a business in China, you get a book deal and then the publisher backs out at the last minute? Well, after shouting several bad words, you get the book published piecemeal until another publisher shows interest. And so Mark Kitto, one of the folks who started the whole That's Shanghai "magazine empire" back in the late 1990s, only to have it "stolen by the state" six years later, tells his tale in the April issue of Prospect:

Gadget blog Engadget brings us the latest news on Skype in China:

Worried about "saboteurs" in "the house," Beijing has halted plans that would have let foreign newspapers print in China, the Financial Times reports. The government cited the role of the foreign press in recent uprisings in Georgia, Ukraine and Kyrgyzstan. But why would people revolt in China? We thought life was good here. Anyway, all hope is not lost. Everything would be OK if the meddling international press would just behave! A government spokesman said a "return to the liberalisation policy depended on the conduct of foreign media." We at Shanghaiist know that none of this matters anyway, because print is dead.

In the latest news that may affect Shanghaiist's calls across the Pacific, Skype claims that it is in discussions with "Chinese operators" and is "optimistic" that SkypeOut will launch in China soon (we're not really sure what launching would entail, since we can already use SkypeOut here). Skype's chief also suggested that a supposed Skype-blocking-system released by a company in Atlanta is nothing but "vapourware." Ouch! The Financial Times has the story:

The Chinese government released a white paper (full English text) today entitled "Building of Political Democracy in China". If you're a graduate student, political science professor, or don't mind wasting the precious time God has given you on to live on this earth, give it a read. It may not be as effective as a sleeping pill, but at least it's cheaper. And if you get done with that and don't feel as if you've wasted enough of your time, re-read the whole damn thing in Chinese.