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Keyword: chinaeconomy

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  • Has the BRICs bubble burst?

    03/28/2016 7:04:35 AM PDT · by Lorianne · 7 replies
    Guardian UK ^ | 27 March 2016 | Simon Tisdall
    Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination ___ The political crisis in Brazil over economic mismanagement and high-level corruption, likely to come to a head next week, has reinforced the fashionable view, popular among western governments and businesses, that the Brics bubble has burst. Members of the exclusive Brics club of leading developing countries – Brazil, Russia, India, China and South Africa – are failing to justify predictions that, separately and together, they will dominate the 21st century world, or so the argument goes. The Brics concept, plus acronym,...
  • China FX reserves fall $512.66 bln in 2015, biggest annual drop on record

    01/09/2016 6:28:54 AM PST · by TigerLikesRooster · 3 replies
    CNBC ^ | 7 Jan 2016
    China FX reserves fall $512.66 bln in 2015, biggest annual drop on record Thursday, 7 Jan 2016 | 4:43 AM ET China's foreign exchange reserves, the world's largest, fell $107.9 billion in December to $3.33 trillion, the biggest monthly drop on record, central bank data showed on Thursday. The December figure missed market expectations of $3.40 trillion, according to a Reuters poll. China's foreign exchange reserves fell $512.66 billion in 2015, the biggest annual drop on record
  • China to Stimulate by Cutting Taxes

    12/28/2015 8:46:58 AM PST · by Lorianne · 15 replies
    Armstrong Economics ^ | 28 December 2015 | Martin Armstrong
    China is demonstrating that it is more practical than anyone else in the industrialized world. They have announced that they will “reasonably” set limits on new local government debt in 2016. Finance Minister Lou Jiwei said at a work conference in Beijing on Monday that they will actually limit local debt; something nobody else does. China will also adopt a much more flexible fiscal policy that will include gradually increasing the fiscal deficit ratio and expanding its budget deficit. So China will increase its debt in a gradual manner to try to stimulate the economic decline it is facing. These...
  • China Is Falling Into A Vicious Circle As It Burns Through Cash Reserves Faster Than Ever Before

    09/07/2015 6:19:50 AM PDT · by blam · 26 replies
    BI ^ | 9-7-2015 | Ben Moshinsky
    Ben MoshinskySeptember 7,2025China is spending billions propping up its struggling currency and as a result its foreign currency reserves fell by a record amount last month. China spent $93.9 billion in August, reducing its cash pile to $3.56 trillion. This is almost double the drop in July, when $50 billion was spent. The People's Bank of China is spending all this cash on propping up its currency, the yuan, which has been suffering since China devalued it against the dollar. China's central bank is selling the dollars it holds and buying yuan in a bid to boost the price by...
  • Goldman Sachs isn't worried about China

    09/07/2015 7:50:54 AM PDT · by RoosterRedux · 11 replies
    The world is worried about China's economy. Mark Schwartz, Goldman Sachs' man in Beijing, not so much. Yes, China's stock market has tumbled 40% since June. And yes, the country has hit a rough patch. "A few things have gone wrong this summer," said Schwartz. But he also thinks the doomsday scenarios are way off the mark. "I think the market reaction globally is overdone," said Schwartz, who is chairman of Goldman Sachs in Asia-Pacific. "I think China is going through a very normal transition, from a state-controlled, state-dominated system, to a more market-oriented system."
  • GOLDMAN SACHS: Chinese Economic Growth Is About To Accelerate

    08/27/2015 9:52:12 AM PDT · by blam · 16 replies
    BI ^ | 8-27-2015 | David Scutt
    David Scutt, Business Insider Australia August 26, 2015 The outlook for Chinese economic growth is not as bad as some commentators are suggesting, and while it is uncertain, it is certainly not collapsing. The view presented by Goldman Sachs' portfolio strategy research team, in a note released earlier this week, suggests that Chinese economic growth will recover in the final quarter of this year on the back of flexibility with fiscal, monetary, and reform policy. Here's Goldman on the recent slowdown in China's growth momentum: China growth has slowed meaningfully in recent months, as evidenced by the disappointing official data,...
  • China's Much-Touted Economic Model Is Broken

    08/15/2015 6:11:35 AM PDT · by SeekAndFind · 18 replies
    IBD ^ | 08/15/2015
    The horrific explosions at the industrial port city of Tianjin and China's imploding economy show the government at its worst. China's highly touted "model" is broken and faces its day of reckoning. At last count, Wednesday's explosions in Tianjin had killed 50, including 12 firefighters. More than 500 people were hospitalized, 71 in critical condition, according to CNN. Dozens of people were missing. The government has been heavily criticized for its response and for clamping down on information about the tragedy. But it's been doing the same with the economy for years — exaggerating its growth rate and vibrancy, and...
  • China Economic Data Underwhelms Once Again

    08/12/2015 9:08:11 AM PDT · by BenLurkin · 7 replies ^ | Aug. 12, 2015 6:14 a.m. ET
    Growth in industrial production, fixed-asset investment and retail sales all slowed in July, China’s National Bureau of Statistics reported, just days after releasing data showing that exports fell sharply. Economists said the latest figures, along with a stated desire to make exchange rates more market driven, fueled Beijing’s surprise decision to let the yuan fall by 2.8% over Tuesday and Wednesday. “All the numbers are very weak,” “China’s hitting a bit of an air pocket.” ... “We believe new stimulus is being prepared to contain the rising downside risk in the real economy, which otherwise could turn into a hard...
  • George Soros: We Are On The Threshold Of A Third World War

    05/27/2015 8:46:07 AM PDT · by aimhigh · 57 replies
    ETF Daily News ^ | 05/27/2015 | Paul Joseph Watson
    Billionaire investor George Soros told the World Bank this week that the planet is on the verge of a third world war that could arise out of an economic collapse in China. “If there is conflict between China and a military ally of the United States, like Japan, then it is not an exaggeration to say that we are on the threshold of a third world war,” Soros said during a Bretton Woods conference. . . . . Soros said the only solution to the prospect was to allow China to join the IMF’s basket of global currencies so that...
  • IMF Proposes to Sabotage China’s Economy

    05/02/2015 1:40:55 PM PDT · by Kaslin · 4 replies ^ | May 2, 2015 | Daniel J. Mitchell
    For the people of China, thereÂ’s good news and bad news. The good news, as illustrated by the chart, is that economic freedom has increased dramatically since 1980. This liberalization has lifted hundreds of millions from abject poverty. The bad news is that China still has a long way to go if it wants to become a rich, market-oriented nation. Notwithstanding big gains since 1980, it still ranks in the lower-third of nations for economic freedom. Yes, thereÂ’s been impressive growth, but it started from a very low level. As a result, per-capita economic output is still just a fraction...
  • Asia shares stumble as weak China trade stokes growth worries

    02/08/2015 4:38:15 PM PST · by Red in Blue PA · 9 replies
    TOKYO (Reuters) - Asian shares wobbled on Monday after dismal Chinese trade data eclipsed a strong U.S. jobs report, raising concerns about a deepening slowdown in the world's second-largest economy and sending the Australian dollar sliding. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent with Australian shares (.AXJO) down 0.5 percent in early trade. U.S. stock futures also shed 0.4 percent (ESc1).
  • China overtakes US to be world's #1 economy: First time since President Grant was in office

    12/05/2014 8:24:01 AM PST · by SeekAndFind · 19 replies
    American Thinker ^ | 12/05/2014 | Rick Moran
    According to figures published by the International Monetary Fund, China has surpassed the US in economic output of real goods and services - a measure widely accepted as a gauge of total economic activity. It's an esoteric measurement, but important because it ignores exchange rates: These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be...
  • World asleep as China tightens deflationary vice

    02/13/2014 10:42:42 AM PST · by mgist · 29 replies
    Telegraph ^ | 2/13/14 | Ambrose Evans-Pritchard
    <p>World asleep as China tightens deflationary vice We keep our fingers crossed as we glimpse the first foam of a deflationary Ch'ient'ang'kian coming our way from China. The world's central banks have no margin for error Societe Generale has defined its hard landing as a fall in Chinese growth to a trough of 2pc, with two quarters of contraction. .snip. The balance of evidence is that most powerful Chinese leader since Mao Zedong aims to prick China's $24 trillion credit bubble early in his 10-year term, rather than putting off the day of reckoning for yet another cycle.</p>
  • China’s Housing Market Is Looking Ugly, Which Is Scary for its Financial System

    02/05/2014 1:16:44 PM PST · by nickcarraway · 10 replies
    Quartz ^ | 2/5 | Gwynn Guilford
    China’s surging property market might finally have hit the skids. + Sales have “showed a sharp decline” (paywall) in January, compared to Dec. 2013, according to China Confidential, a Financial Times research outfit, even when controlling for softness due to the Chinese New Year holiday. Official data show prices still high in December (the last month for which data were available), but those will likely be dragged down in the coming months. + ​ A big blow to global markets Housing investment is a big engine of China’s economy. And though slower growth could help end China’s dangerous reliance on...
  • China Halts Bank Cash Transfers

    01/26/2014 2:56:28 PM PST · by Errant · 54 replies
    Forbes ^ | 26 January 2014 | Gordon G. Chang
    The People’s Bank of China , the central bank, has just ordered commercial banks to halt cash transfers. ---Clip--- In short, there will be a three-day suspension of domestic renminbi transfers. There will also be a suspension, spanning nine calendar days, of conversions of renminbi to foreign currency. The specific reason given—“system maintenance” at the central bank—is preposterous. It is not credible that during the highest usage period in the year—the weeklong Lunar New Year holiday beginning January 31—the central bank would schedule an upgrade and shut down cash transfers. A better explanation is that the country’s banking system is...
  • Chicken In Popular Products May Soon Be Made In China

    11/12/2013 5:54:07 PM PST · by TexGrill · 55 replies
    WBZ TV ^ | 11/11/2013 | Michelle Roberts
    BOSTON (CBS) — As soon as next summer, nuggets and other popular chicken products could be made with chicken processed in China, all because of a recent change in regulations. “Oh, it makes me a little nervous,” says mother of two, Katrina Lee. China has a long history of serving up unsafe food, including the industrial chemical melamine that was deliberately put in pet food and infant formula. There were also cases of tainted rat meat passed off as lamb. “To me it’s a big leap of faith for us to now have to accept that foods coming from china...
  • China's meager aid to the Philippines could dent its image

    11/12/2013 5:44:07 PM PST · by TexGrill · 3 replies
    Reuters ^ | 11/12/2013 | Megha Rajagopalan
    (Reuters) - China may have wasted the chance to build goodwill in Southeast Asia with its relatively paltry donation to the Philippines in the wake of a devastating typhoon, especially with the United States sending an aircraft carrier and Japan ramping up aid. The world's second-largest economy is a growing investor in Southeast Asia, where it is vying with the United States and Japan for influence. But China's assertiveness in pressing its claim to the disputed South China Sea has strained ties with several regional countries, most notably the Philippines. China's government has promised $100,000 in aid to Manila, along...
  • China’s coming challenges

    11/11/2013 10:22:33 PM PST · by TexGrill · 4 replies
    Japan News ^ | 11/12/2013 | Fareed Zakaria
    Fareed ZakariaBEIJING—“We are all struck by the contrast between Beijing and Washington,” said George Yeo, the former foreign minister of Singapore. He was referring to the quality of governance in the two capitals—in particular, the sense pervasive in Asia that the United States has lost its ability to execute public policy with competence (see Iraq, Obamacare). Beijing, on the other hand, has been carefully and systematically planning a series of reforms that will likely make China the world’s largest economy within a decade. The contrast is particularly striking because China faces huge challenges and will need to make major economic,...
  • Pollution from China Is an International Problem

    11/11/2013 8:59:21 PM PST · by TexGrill · 2 replies
    Chosun Ilbo ^ | 11/12/2013 | Chosun Ilbo
    Smog from China brought a concentration of ultrafine particles in the Yeongdeungpo area of southwestern Seoul on Saturday that was 1.4 times the normal level, prompting health authorities to advise the weak and elderly to stay indoors. The concentration of ultrafine particles also surpassed normal levels in the Gangseo, Yangcheon, Guro and Mapo districts of the capital as well as in Incheon. On Oct. 29, the concentration of ultrafine particles in Dongducheon, Gyeonggi Province north of Seoul was 2.5 times the normal level. The smog blows across the West Sea. It is now common in Beijing for the concentration of...
  • University to Study Confucius via Modern DNA Technology (China)

    11/11/2013 8:30:21 PM PST · by TexGrill · 8 replies
    China Radio International ^ | 11/12/2013 | Fu Yu
    Fudan University in Shanghai is to study China's historical figures such as Confucius and the early emperors through modern DNA technology, Beijing Times reports. The studies follow the latest findings published on Monday on Cao Cao, a warlord who lived nearly 2,000 years ago in final years of the Eastern Han Dynasty. It debunked rumors that Cao's father Cao Song was fostered by comparing the DNA of Cao's living descendents and that found in the teeth of Cao's grandfather. Han Sheng from Fudan University, who led the Cao Cao research, says it is a breakthrough in the fields of both...
  • Plant Blast Kills Six, Injures Six in Xinjiang (China)

    11/11/2013 8:26:17 PM PST · by TexGrill · 2 replies
    China Radio International ^ | 11/12/2013 | Zhang
    At least six people have been confirmed dead and another six were injured after a blast triggered by liquid nitrogen occurred late Monday night in Urumqi, capital of Xinjiang Uygur Autonomous Region. The Xinjiang regional bureau of work safety said on Monday that the blast happened at around 11:30 p.m. in a plant owned by Xinjiang No. 8 Steel Structure Co. Ltd. The source said that five workers were killed on the spot. One of the seven injured died in hospital. The cause of the blast is still under investigation.
  • Days after Beijing attack, China talks cooperation on terrorism

    11/11/2013 6:24:57 PM PST · by TexGrill · 2 replies
    Indian Express ^ | 11/11/2013 | Shubhajit Roy
    Days after a terrorist attack at the historic Tiananmen Square in the heart of Beijing, China for the first time expressed strong support for "counter-terrorism" cooperation with India and Russia at a meeting here Sunday. Sources told The Indian Express that Chinese Foreign Minister Wang Yi "red-flagged" the issue on his own as he held talks with External Affairs Minister Salman Khurshid and Russian Foreign Minister Sergei Lavrov at the 12th Russia-India-China (RIC) trilateral meeting. Wang reportedly said that the attack at Tiananmen Square involved jehadist elements. The RIC joint statement, released after the meeting, made a mention of the...
  • China, Russia, Saudi Arabia, Vietnam in line for seats on UN Human Rights Council

    11/11/2013 6:13:44 PM PST · by TexGrill · 9 replies
    Washington Post ^ | 11/12/2013 | AP
    UNITED NATIONS — China, Russia, Saudi Arabia and Vietnam are among the nations running unopposed for seats on the Human Rights Council, the U.N.’s highest rights watchdog body, a prospect that has independent human rights groups crying foul. On Tuesday, the General Assembly will elect 14 new members to the 47-seat, Geneva-based council, which can shine a spotlight of publicity and censure on rights abuses by adopting resolutions — when it chooses to do so. It also has dozens of special monitors watching problem countries and major issues ranging from executions to drone strikes. New York-based Human Rights Watch pointed...
  • David Cameron delays Autumn Statement to visit China

    11/11/2013 5:57:44 PM PST · by TexGrill
    Daily Telegraph ^ | 11/11/2013 | James Kirkup
    David Cameron has delayed the Treasury’s Autumn Statement on the economy in order to conduct a major diplomatic visit to China. The Prime Minister will visit China in the coming weeks, ending a diplomatic row that had seen Britain struggling to make high-level contact with the Chinese leadership after Mr Cameron last year held a private meeting in London with the Dalai Lama, the spiritual leader of Tibet. On Monday night a Treasury spokesman said: “Tonight the Prime Minister announced that he will lead a delegation to China in early December. As a result the Autumn Statement will now be...
  • Chinese show keen interest in ‘Gangnam-style medical hallyu’

    11/11/2013 2:14:07 AM PST · by TexGrill
    Dong-A Ilbo ^ | 11/11/2013 | Dong-A Ilbo
    A Korean medical tourism information session involving 12 hospitals from Seoul’s Gangnam district took place at Yangyuan Hotel in Dalian City, China on Friday. The event brought together more than 300 people, including citizens and officials from local medical tourism agencies, and local hospitals. The participants attentively watched presentations by medical doctors from Korean hospitals, including Samsung Seoul Center, MizMedi Women`s Hospital and BK Plastic Surgery Hospital, who are widely recognized for excellence in their respective fields of medicine. The event was organized to attract Chinese patients who have growing interest in quality medical service amid China’s robust economic growth....
  • Shale gas exploration accelerated in China

    11/11/2013 1:42:05 AM PST · by TexGrill · 2 replies
    China Daily ^ | 11/11/2013 | Du Juan
    China's top two oil and gas companies have accelerated shale gas exploration. PetroChina Co, China's largest oil and gas producer, announced on Friday that its first shale gas project in Daqing, Heilongjiang province, started test runs in early October. Sinopec Co, the country's largest refiner, said it has discovered enough shale gas resources for commercial scale production in Chongqing on Oct 28. The company said its shale gas block in Chongqing has reached the maximum daily output of 547,000 cubic meters. Insiders said the top two oil and gas companies – PetroChina Co and Sinopec Co – have accelerated their...
  • China: Goodbye, GDP

    11/10/2013 9:27:05 PM PST · by TexGrill · 4 replies
    Xinhua News Agency ^ | 11/11/2013 | Yang Yi
    BEIJING, Nov. 11 (Xinhuanet) -- China‘s new leadership is poised to tolerate slower growth as it tries to shake off its long-term GDP mania and put social progress and environmental welfare at the top of the nation’s agenda. Under the existing "GDP growth is the king" performance evaluation plan, local government leaders have strong incentives to push investment, without any regard for the quality of peoples' lives or environmental capacity. An encouraging message from China's leadership was President Xi Jinping's call for putting an end to the performance evaluation system based on GDP growth during a recent field trip to...
  • Jobless Growth In China? ...

    11/10/2013 9:14:08 PM PST · by TexGrill
    Forbes ^ | 11/10/2013 | Gordon G. Chang
    Li Keqiang, in a speech released last week, said a 7.2% annual increase in China’s gross domestic product creates 10 million new jobs a year. The premier, therefore, believes each percentage point of growth produces 1.4 million jobs. Morgan Stanley’s Ruchir Sharma, writing in the Wall Street Journal just before the release of Li’s speech, told us that each percentage point of growth results in 1.6 million to 1.7 million new jobs. Beijing’s National Bureau of Statistics reported that last year China’s GDP jumped 7.7%. Applying Sharma’s formula, the economy should have created 12.3 to 13.1 million new jobs in...
  • China's cautious land-reform tests cast doubt on big urban vision

    11/10/2013 6:18:41 PM PST · by TexGrill
    Reuters ^ | 11/10/2013 | Kevin Yao
    (Reuters) - Tan Yingyu is one of China's 200 million migrant workers and like many he is stuck: he does not want to return to his village but also cannot become a legal resident in the city of Chengdu, where he has worked for nearly 20 years. His dilemma highlights a key issue for China's reformist leaders as they look for ways to encourage more people to move to cities to help turn a credit- and investment-driven economy into a consumer-powered one. If rural Chinese are given formal rights to their land, they could cash in its value and feel...
  • China's 3rd Plenum: what the "smart money" thinks

    11/10/2013 5:57:23 PM PST · by TexGrill · 4 replies
    Forbes ^ | 11/10/2013 | Bill Fischer
    For most of the thirty-five or so years that I’ve been in the China-watching business, the easiest question of all to answer has always been: “Tell us what will happen next?” Easy because the best answer has consistently been: “Pick a point sufficiently high on the chart, ten years out, and China will reach that.” It might not have followed a straight path in actuality, but at the end of the ten years, the extrapolation – which was always somewhere between 8-10% — was pretty nearly always essentially right. True, some years, 1989, for example, were more challenging than others,...
  • China extends graft investigations to shipping industry

    11/10/2013 5:47:03 PM PST · by TexGrill · 7 replies
    Reuters ^ | 11/08/2013 | Lee Yi-mou
    (Reuters) - China's investigations aimed at rooting out corruption have now extended to the shipping industry, with China COSCO Holdings (1919.HK)(601919.SS) saying that one of its top executives is the subject of government inquiries. COSCO, China's largest bulk shipping company, announced on Friday that its vice president, Xu Minjie, had resigned - a day after it said he was "under investigation by the relevant authorities", phrasing used in China to describe corruption investigations. The company's brief statement to the Shanghai stock exchange on Friday said that there were no disagreements between Xu and the board but gave no further details....
  • China's first online literature university established

    10/31/2013 9:18:56 PM PDT · by TexGrill
    People's Daily ^ | 11/01/2013 | WangXin
    Next, starting college is often difficult- moving away from home for the first time. But what if you could stay at home and learn? Chinese Nobel laureate Mo Yan has taken a job as honorary principal of a new online university which was founded on Wednesday. Let’s find out more. China’s ever-expanding group of online writers are getting more attention, including that of Nobel laureate Mo Yan. Writers and senior editors from major literary websites have been invited to join this newly established online university.  Mo Yan, Author, said, "When the Internet started to thrive, I thought I would...
  • China to reap harvest of NSA scandals

    10/31/2013 9:03:51 PM PDT · by TexGrill · 1 replies
    Asia Times ^ | 10/31/2013 | Brendan O'Reilly
    The best warfare strategy is to attack the enemy's plans, next is to attack alliances. - Sun Tzu, The Art of War A growing chorus of nations is decrying Washington's unrestrained cyber espionage. However, there is only one country with both the means and motivation for using mounting international resentment to challenge American hegemony. The NSA surveillance of America's allies has opened up two vital fronts in which China can erode American global dominance. Chinese Foreign Ministry spokeswoman Hua Chunying has claimed the rhetorical high ground, calling cyber security "a matter of sovereignty". She said Beijing is eager to address...
  • Chinese boy, 10, jumps to death "on teacher's order"

    10/31/2013 8:03:09 PM PDT · by TexGrill · 11 replies
    ChannelNewsAsia ^ | 10/31/2013 | AFP
    BEIJING: A 10-year-old Chinese boy jumped 30 floors to his death after failing to write a self-criticism letter demanded by his teacher, state media reported on Thursday. The fifth-grade primary school student had been ordered to write a 1,000-character apology by his teacher for talking in class, China National Radio (CNR) reported on its website, citing a neighbour. The educator allegedly told him to jump out of a building after he failed to complete the task, the report quoted relatives and the neighbour as saying. "Teacher, I can't do it," was found written in one of his textbooks, CNR said....
  • Bomb threats divert four China flights

    10/31/2013 7:58:17 PM PDT · by TexGrill · 1 replies
    ChannelNewsAsia ^ | 10/31/2013 | AFP
    BEIJING: Four domestic Chinese flights were diverted on Thursday after bomb threats were received, state media reported, days after an attack rocked Tiananmen Square in the capital. The official Xinhua news agency reported that an unidentified suspect had been arrested in connection with the false threats, which affected four flights to and from Changsha in the central province of Hunan. Searches of the aircraft found no explosive devices. It was not immediately clear whether the suspect was the same person responsible for a multiple bomb threat made two days earlier, also at Changsha airport. According to central broadcaster CCTV, Tuesday's...
  • China's economic stumble has Asia worried

    10/31/2013 6:38:22 PM PDT · by TexGrill · 1 replies
    CNN ^ | 10/09/2013 | Pamela Boykoff
    While talk of political dysfunction in the United States dominated many of the conversations at this year's Asia Pacific Economic Cooperation summit, another topic was causing anxiety: China's economic slowdown and its implications for the region. China's so-called economic miracle has powered growth in Asia for years, helped deepen trade ties and spread much-needed capital to its neighbors. But now, it looks like slowing growth in China could spill across borders to less-developed parts of the continent. The World Bank just downgraded its forecast for the increase in China's GDP this year to 7.5% from 8.3%. Its estimate for the...
  • CNOOC announces new oil discovery in Bohai (China)

    10/30/2013 8:49:21 PM PDT · by TexGrill
    People's Daily ^ | 10/24/2013 | Li Xiang
    China National Offshore Oil Corp. (CNOOC), China's biggest offshore oil and gas producer, announced on Wednesday new gas and oil discoveries in the Bohai Sea. The findings come from the Lvda 5-2 North and Kenli 9-5/9-6 wells, in the Bohai Sea's Liaodong Bay and the Laixi structure, respectively. The production of Lvda 5-2N-2 well was tested at over 1,000 barrels per day, and Kenli 9-6-2 well at around 200, the CNOOC said. The company also revealed total assets in excess of 1 trillion yuan (163 billion U.S. dollars) at the end of September.
  • Expat options at high-end job (China)

    10/30/2013 8:41:02 PM PDT · by TexGrill · 2 replies
    People's Daily ^ | 10/31/2013 | Gao YiNan
    Expats are invited to a high-end job fair on Saturday, with more than 7,000 vacancies at companies, schools and hospitals in neighboring Zhejiang Province. The event, organized by the Zhejiang Province Human Resources and Social Security Bureau, features 300 companies and organizations offering 3,000 kinds of jobs in 60 sectors. These include, education, new materials, mechanical engineering, solar energy, electronics, telecommunications, trade, finance, medicine, chemistry, textiles, construction, agriculture and marine resources. College teachers, scientific researchers and management talents in the tertiary education field are most in demand, accounting for nearly half of all the job openings. Education institutes attending include...
  • Vanishing newsstands reflects China's media development

    10/30/2013 8:37:10 PM PDT · by TexGrill
    People's Daily ^ | 10/28/2013 | Zhang Qian
    Despite piles of newspapers and magazines on display, Beijing newsstand owner Mr. Xia uses his mobile phone to browse the news online. "If I did not sell drinks and phone cards, I would be at a loss every day," he said. His newsstand, in west Zhongguancun, Haidian district, feels stale. The kiosk is less than 10 square meters, sells cold drinks, cigarettes, chewing gum and so forth, and looks like a mini grocery store. Xia, 32, begins to work at 7 a.m. every day and returns home about 8 p.m., rain or shine. "It's hard to make money selling just...
  • Rich Chinese seek American surrogate mothers

    10/30/2013 8:32:21 PM PDT · by TexGrill · 9 replies
    People's Daily ^ | 10/31/2013 | Chen Lidan
    Hearing the one-year old toddler Binbin mumbling “papa,” Jiang Ning (pseudonym) experienced mixed feelings. Jiang has never told anyone about the birth of his son. Though he and his wife are Binbin's parents, the baby was carried by a surrogate mother -- a white American woman who Jiang paid for the service. Such surrogate mothers have another person's embryo transplanted into their womb and later give birth to the child. Jiang paid around US$300,000 for the service. Surrogacy is illegal in China and the average cost can vary between US$100,000 to US$300,000 in the U.S, which is a considerable burden...
  • Mistakes allowed in FTZ trials: government think tank (China)

    10/30/2013 8:22:01 PM PDT · by TexGrill
    People's Daily ^ | 10/31/2013 | Li Xiang
    The China (Shanghai) Pilot Free Trade Zone (FTZ) should be allowed to make mistakes as it carries out experimental policies, said Long Guoqiang, a senior researcher with a Chinese government think tank, on Wednesday. The Shanghai FTZ paves the way for "upgrading China's economy," a concept championed by Premier Li Keqiang, said Long of the State Council's Development Research Center. Long asked for tolerance and patience for the FTZ, a month-old testing bed for reforms. The zone will open up broader space in markets for foreign investors, including in the service and financial sectors, and covers approximately 29 square kilometers...
  • China regulates officials working in enterprises

    10/30/2013 8:17:41 PM PDT · by TexGrill · 1 replies
    People's Daily ^ | 10/30/2013 | Yao Chun
    BEIJING, Oct. 30 -- China on Wednesday issued rules to regulate incumbent and retired officials working in various establishments in order to root out irregularities and prevent corruption. The rules, issued by the Organization Department of the Communist Party of China (CPC) Central Committee, are based on existing laws and regulations on civil servant management and the Party's integrity rules. Incumbent officials, including those who have not completed retirement procedures, should not hold concurrent posts or work full-time in enterprises, unless the officials' work requires that and the process is subject to strict examination and approvals, the rules say. In...
  • Reel China: Tales from the Dark I

    10/30/2013 8:12:39 PM PDT · by TexGrill
    China Radio International ^ | 10/25/2013 | Wu Tong
    This week, join Rob and Karen for a spooky Halloween special as they check out Hong Kong horror anthology "Tales from the Dark I".
  • U.S. Declines to Name China as Currency Manipulator

    10/30/2013 8:08:49 PM PDT · by TexGrill · 2 replies
    China Radio International ^ | 10/31/2013 | Wang
    The U.S. Treasury Department on Wednesday declined to name China as a currency manipulator, saying it would closely monitor the pace of RMB appreciation. "China's current account surplus has declined from a peak of 10. 1 percent of GDP in 2007 to 1.9 percent of GDP in 2011 and 2.5 percent in the first half of 2013. The appreciation of China's real effective exchange rate has been an important factor in reducing the current account surplus," the U.S. Treasury said in a latest semi-annual report to Congress on International Economic and Exchange Rate Policies. Meanwhile, it noted "the RMB is...
  • China Television Watchdog Cuts Shopping Ads

    10/30/2013 8:04:31 PM PDT · by TexGrill
    China Radio International ^ | 10/31/2013 | Fu Yu
    China's television watchdog has urged satellite channels across the country to limit air time given to TV shopping commercials from next year. Satellite TV channels are allowed to broadcast shopping advertisements, known as infomercials, only once per hour and no more than three minutes every time, according to a circular released Tuesday by the State General Administration of Press, Publication, Radio, Film and Television. The same ad should be aired no more than three times per day, it said, adding that the order will take effect on Jan. 1, 2014. In a Wednesday statement with additional rules, the administration stressed...
  • Japan's big manufacturers signal tentative willingness on wage hikes

    10/30/2013 7:28:29 PM PDT · by TexGrill
    Reuters ^ | 10/30/2013 | Yoko Kubota
    (Reuters) - Japan's big manufacturers, under pressure from Prime Minister Shinzo Abe to boost wages and create a "virtuous cycle" of growth to defeat deflation, are showing signs they are willing to raise workers' pay. Abe's reflationary policies to stimulate spending and investment have boosted the fortunes of many corporations in Japan, which is now the fastest growing of the G7 rich nations. Mitsubishi Motors Corp (7211.T), a second-tier automaker and key player in the Mitsubishi group of companies, sounded upbeat about the prospects for salary increases for its workers as it completes a decade-long recovery from deep losses. "Up...
  • China's Xi says political solution for Taiwan can't wait forever

    10/30/2013 7:15:27 PM PDT · by TexGrill · 14 replies
    Reuters ^ | 10/06/2013 | Nusa Dua
    (Reuters) - Chinese President Xi Jinping told a senior envoy from self-ruled Taiwan on Sunday that a political solution to a standoff over sovereignty lasting more than six decades cannot be postponed forever, drawing a cool, non-committal response. China and Taiwan have been ruled separately since Nationalist forces, defeated by the Communists, fled to the island at the end of the Chinese civil war in 1949. China considers Taiwan a renegade province and has never ruled out the use of force to bring it under its control. While relations have improved dramatically since the China-friendly Ma Ying-jeou was elected Taiwan...
  • China's Mideast clout growing amid Turkey missile deal

    10/30/2013 7:07:26 PM PDT · by TexGrill · 1 replies
    Jerusalem Post ^ | 10/16/2013 | Jerusalem Post
    LONDON - China's likely sale of sophisticated missiles to Turkey over the objections of its NATO allies might have angered Washington and other capitals, but it should not have been a surprise. Even as the US has spent billions of dollars and lost hundreds of lives in Iraq and Afghanistan, Beijing has been quietly upping its presence in the Middle East. Militarily, the US - which maintains a permanent aircraft carrier presence near the Gulf as well as dozens of other warships and major bases in Turkey, Qatar and the United Arab Emirates - is by far the dominant regional...
  • Q&A: China's restive far west

    10/30/2013 7:03:04 PM PDT · by TexGrill · 1 replies
    CNN ^ | 10/31/2013 | Katie Hunt
    Hong Kong (CNN) -- A connection to Xinjiang, a restive autonomous region in northwestern China, has emerged in the investigation into the jeep that plowed into crowds in Tiananmen Square on Monday, killing five and injuring at least 40. The incident, which has been identified as a terrorist attack, was "carefully planned, organized and premeditated," police said Wednesday on their official Weibo account online. Tuesday, police circulated a notice to hotels in Beijing related to a "major incident" listing names that suggested suspects belonged to the Uyghur ethnic group that comes from Xinjiang. The region has a long history of...
  • China Insiders Stressing over Fake GDP Figures (Vanity)

    10/30/2013 6:52:53 PM PDT · by TexGrill · 10 replies
    PMNews ^ | 10/31/2013 | Vanity
    (Vanity) I just heard at an intruiging conversation with a lawyer who works nearby Guomou Subway Station on Line 1 in Beijing. The attorney explained that their law firm is hired by the Chinese government to publish all economic statistics into the English language and make it available as press releases for the Western media, or so the lwayer claims. Apparently, the lawyer has described a culture of chaos as government officials try to figure out how to make fake economic statistics that look more believable. The source explained the routine. China has two sets of books: the real economic...