Current Events in China: August 23
Posted on | August 22, 2012 | No Comments
Chinese firms say tech level on par with Korea
About 40 percent of Chinese companies in South Korea believe that Chinese technology has enhanced enough to stand shoulder-to-shoulder with Korean technology, according to a survey released on Tuesday. Read more
China study warns rural wealth gap near ‘danger’ level
China’s rural inequality is nearing “danger” levels as hundreds of millions of people shun farming for better paid city work, causing a widening wealth gap, a report said. Read more
China ups rare earth resources export quota
China announced Wednesday a slight increase in its export quota for rare earth resources, amid falling demand and as the country remains at loggerheads with major trading partners over the limits. Read more
China HSBC Flash PMI at 9-month low, new export orders sink
China’s factory activity in August shrank at its fastest pace in nine months as new export orders slumped and inventories rose, a signal that a persistent slowdown in economic growth has extended deeper into the third quarter. Read more
Thousands being moved from China’s Three Gorges – again
China relocated 1.3 million people during the 17 years it took to complete the Three Gorges dam. Even after finishing the $59 billion project last month, the threat of landslides along the dam’s banks will force tens of thousands to move again. Read more
China to spend $372 billion on cutting energy use, pollution
China will plough $372 billion into energy conservation projects and anti-pollution measures over the next three-and-a-half years, part of a drive to cut energy consumption by 300 million tonnes of standard coal, the country’s cabinet said Tuesday. Read more
China Consumers Eschew Domestic Brands as Foreigners Gain: Cars
Liu Yu said he was making a generous offer: a $1 million subsidy to entrepreneurs willing to build a dealership for BAIC Motor Corp.’s Beijing car brand. Though that covers about three-fourths of the cost of each outlet, the BAIC deputy sales chief has struggled to recruit the 150 candidates he wants by year-end, whereas BAIC’s parent company has no trouble finding dealers for its joint ventures with Daimler AG and Hyundai Motor Co., even without subsidies. Read more
Child Protesters: New Tactic in the Fight for Migrant Workers’ Wages?
An old story took on a new twist this month as a group of Chinese migrants protested outside a real estate development to demand payment of overdue wages. The difference this time: The protesters were children – and they were successful. Read more
China’s ‘B’ Shares Getting Erased as ‘A’ Shares Boom
The end may finally be near for China’s troubled foreign currency-denominated stock market after the world’s largest producer of shipping containers proposed quitting the exchange and moving its listing to Hong Kong. Read more
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China Current Events
- A fortune in severed bear paws found being smuggled into China - NBCNews.com (blog) June 18, 2013RadioFreeEurope/RadioLibertyA fortune in severed bear paws found being smuggled into ChinaNBCNews.com (blog)There were varying estimates of the value of the haul – said to be the biggest by Chinese authorities – but China Central Television reported it would have been worth about 2.8 million yuan (about $460,000) on the black market. Reuters. The bear paws . […]
- China Introduces Local Program for Reducing Emissions - New York Times June 18, 2013BBC NewsChina Introduces Local Program for Reducing EmissionsNew York TimesBEIJING — China unveiled its first pilot carbon emissions exchange Tuesday, though plans for a nationwide rollout and efforts to apply the program to some heavy industries could be undermined by a slowdown in the nation's economy. High-emission ...China Carbon Permits Trade 22% B […]
- US Pressure on China Over Hacking to Remain - Voice of America June 18, 2013Voice of AmericaUS Pressure on China Over Hacking to RemainVoice of AmericaAnalysts say the recent leaks exposing top-secret U.S. surveillance programs may benefit China temporarily, but will not likely sway Washington from putting more pressure on Beijing to stop alleged Chinese cyber hacking against U.S. targets. The leaks ...'It's Christmas In J […]
- Seeking Influence, China Hosts Mideast Peace Forum - ABC News June 18, 2013The West AustralianSeeking Influence, China Hosts Mideast Peace ForumABC NewsThe Palestinian envoy to the United Nations praised China's growing involvement in the Mideast peace process, saying it enhances the efforts of other nations and should continue to expand. Riyad Mansour made the comments Tuesday during a U.N. ...China: The new Mideast power bro […]
- China Mengniu Dairy Offers $1.6 Billion for Baby Formula Firm - New York Times (blog) June 18, 2013ValueWalkChina Mengniu Dairy Offers $1.6 Billion for Baby Formula FirmNew York Times (blog)HONG KONG – China's biggest dairy producer on Tuesday placed a $1.6 billion wager that it could win over the trust of parents in the world's most populous country after a series of scandals involving tainted baby formula. China Mengniu Dairy said it ...China […]
- Could China's growing influence in Hollywood affect Christian-themed movies? - Fox News June 18, 2013Could China's growing influence in Hollywood affect Christian-themed movies?Fox News“Christianity in China has long has been associated with Western imperialism and the authorities regard U.S. evangelism, in particular, with some suspicion,” Beijing-based entertainment attorney Mathew Alderson told FOX411's Pop Tarts column ...and more » […]
- What Paintbrush Makers Know About How to Beat China - New York Times June 18, 2013New York TimesWhat Paintbrush Makers Know About How to Beat ChinaNew York TimesAs I toured Israel Kirschner's Bronx paintbrush factory earlier this month, I couldn't stop feeling amazed that it was still in business. Many days, Kirschner feels the same way. The charming, energetic 69-year-old joked about his ancient equipment ... […]
- China May home price rise highlights policy dilemma - Reuters June 18, 2013Wall Street Journal- IndiaChina May home price rise highlights policy dilemmaReutersBEIJING (Reuters) - China's home price rises slowed for a second straight month in May from the previous month, in a sign that Beijing's attempts to bring stability to a frothy property market are having some effect. However in year-on-year terms ...China Home-Price […]
- Bad Omens In China: Banks Default, Debt Auctions Fail - Forbes June 18, 2013Bad Omens In China: Banks Default, Debt Auctions FailForbesOn Friday, China's Ministry of Finance sold only 9.53 billion yuan of government bills, far less than the 15 billion yuan offered. It was the first failed Finance Ministry auction since July 2011. To add insult to injury, Beijing had to pay 3.76% on ... […]
- French Attack Comes Amid Tension With China - Wall Street Journal- India June 17, 2013Wall Street Journal- IndiaFrench Attack Comes Amid Tension With ChinaWall Street Journal- IndiaA violent attack over the weekend on a group of Chinese students in the French region of Bordeaux has sparked a diplomatic outcry amid trade tensions that have threatened the budding wine commerce between the two countries. Enlarge Image. image.Wine war fears alrea […]