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Current Events in China: August 11

Posted on | August 10, 2012 | No Comments

Chinese police ‘admit’ Gu Kailai cover-up: official

Four Chinese police officers on Friday admitted in court to covering up the killing of a British businessman to protect the wife of a senior politician charged with his murder, an official said.  Read more

China export growth slows to 1%

China’s trade and domestic demand have weakened even faster than expected, adding to pressure on Beijing for a more aggressive stimulus to boost the world’s second-largest economy out of its worst slump since the 2008 crisis.  Read more

Chinese student sells kidney for iPad

A surgeon and four other people are on trial in central China over the case of a teenager who is said to have sold a kidney to buy an iPhone and iPad 2, state media has reported.  Read more

Petitioner in China released from labor camp after outrage

A Chinese woman sent to a labor camp for demanding seven men who forced her daughter into prostitution be given harsher punishment was released Friday after an online outcry, state media reported.  Read more

China Drills Into Shale Gas, Targeting Huge Reserves Amid Challenges

Although China is believed to have 50% more natural gas in shale formations than the United States it also has larger technical and infrastructure barriers.  Read more

Traffic accidents crippled Chinese insurers last year

Chinese insurance companies were in the red last year due to road accident-related insurance, as they had to compensate a large number of victims of traffic accidents, data from the industry association showed Friday.  Read more

China’s new lending in July falls sharply, further easing expected

China’s new yuan-denominated lending in July declined sharply to 540.1 billion yuan (about 85.19 billion U.S.dollars), the lowest since September 2011, the People’s Bank of China(PBOC), the central bank, announced Friday.  Read more

China starts construction on 5.8 mln low-income housing units

China started building 5.8 million low-income housing units in the first seven months of this year, the Ministry of Housing and Urban-Rural Development said Friday.  Read more

How did China get to be so good at gymnastics?

The first Westerners inside Beijing’s elite training centre reveal just what makes the country’s athletes unstoppable.  Read more

VanceInfo, HiSoft to merge to create China outsourcing leader

VanceInfo Technologies Inc and smaller rival HiSoft Technology International Ltd agreed to merge to create what they said would be the largest China-based offshore IT services provider by revenue.  Read more

Hong Kong Cuts 2012 Growth Forecast After Expansion Wanes on Export Slump

Hong Kong’s government cut its estimate for the city’s expansion this year after the economy grew at close to the slowest pace since the financial crisis amid waning export demand from advanced nations.  Read more

China Deal to Acquire U.S. Battery Maker is Just the Beginning

As the script now reads, Wanxiang — China’s largest auto parts maker — plays the role of a clever opportunist in the unfolding tragedy of American competitiveness.  Read more

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