China News

People's Daily | Nov 07, 2011

BEIJING, Nov. 7 (Xinhua) -- Over the past ten years since China's accession to the World Trade Organization (WTO), Tianjin has opened itself up to international companies, benefiting both the coastal city and its foreign investors.

Located in northern China, Tianjin is famous for its steamed stuffed buns called "Goubuli", or "Go Believe", which are held in high esteem by both locals and foreigners.

The branding of "Go Believe" is just one of the many examples of Tianjin's internationalizat ...

BBC | Nov 07, 2011

Oil giant BP fails in its attempt to sell off its Argentinian assets after China's CNOOC pulls out of the deal.

People's Daily | Nov 07, 2011

BEIJING-- A majority of China's provinces and regions experienced a slower year-on-year economic growth rate in the first three quarters, with major boom areas leading the decline, official figures showed.

Of the 29 provinces and regions that have released their growth data for the first nine months, 23 have reported a slowdown in growth speed, a sign that the local governments are working to restructure the growth pattern in response to the central government's call.

Traditional powerhous ...

People's Daily | Nov 07, 2011

TIANJIN - China's investment in the mining industry increased 27.9 percent from a year earlier to 2.6 trillion yuan ($409.9 billion) in the first three quarters this year, showing a steady development as against a slower world economy.

China's economy continues to grow in keeping with macro control expectations in a positive direction and the mining industry provides important support for the country's economic and social development, said Wang Min, vice-minister of land and resources.

Alt ...

People's Daily | Nov 07, 2011

BEIJING - Some of the country's private-held oil companies are clamoring for the relaxation of the tight government control of crude oil imports to alleviate the widespread chronic diesel shortfalls during seasonal spikes.

So far the country's three biggest State-owned oil companies dominate more than 95 percent of China's crude imports. The small refiners and filling stations in the downstream sector suffer a shortage of raw oil when demand rises, as a result.

The dominance of oil sources ...

People's Daily | Nov 07, 2011

BEIJING - The government may revise regulations covering joint offshore oil exploration with foreign companies following a spill off the northeastern coast at a field operated by ConocoPhillips China, sources said.

The proposed revision is being led by the Ministry of Land and Resources (MLR) and aims to strengthen government oversight of offshore oil and gas exploration involving foreign enterprises, according to a source who requested anonymity.

The source said that the revised amendment ...

People's Daily | Nov 07, 2011

BEIJING, Nov. 6 (Xinhua) -- Employment quality in China is relatively low, which is a major reason affecting the quality of economic growth, says a latest report on the labor market.

The report, released Saturday by the Labor Market Research Center of the Beijing Normal University focusing on the quality of employment in China, says Beijing, Shanghai and Tianjin were the top three cities in terms of employment quality, adding the overall employment quality in China is still low.

"Poor empl ...

Guardian | Nov 07, 2011

Global Times suggests artist and activist is conducting illegal fundraising as supporters send money to help with tax fightA Chinese state newspaper has raised the spectre of further action against the artist and activist Ai Weiwei, alleging he could be carrying out "illegal fundraising" after thousands of supporters sent him money to pay a £1.5m tax bill.Ai said he believed the money from well-wishers – arriving electronically, by post and even flown into his studio in the form of bills...

People's Daily | Nov 07, 2011

Having no idea that China does have nuclear weapons, Republican presidential candidate Herman Cain suffered his latest mark on his foreign policy credentials this week. The GOP hopeful defended himself by dwarfing greatly China's nuclear capacity when compared to that of the US.

The US media might be surprised by Cain's ignorant remarks, but it is the Chinese people who will feel more astonished. Though Cain has successfully worked as the CEO of a big company, a radio host and columnist in th ...

People's Daily | Nov 07, 2011

Realty developers hope in vain for the government to loosen the tightened monetary policy so they can raise prices.

As was expected, the traditional "golden September and silver October", the peak sales season for the country's housing market, did not materialize this year due to the introduction of a series of regulatory measures by the government.

The Beijing branch of China Construction Bank announced in mid-October its plan to raise mortgage interest rates for first-time homebuyers to ...

People's Daily | Nov 07, 2011

China's Ministry of Railways (MOR) has reportedly asked the central government for an $800 billion yuan ($126 billion) bail-out plan. Some call the MOR China's Fannie Mae and Freddie Mac, two US mortgage finance giants that have made huge contributions but now are a heavy burden for the US government.

The comparison reminds us of the severity of the MOR's "debt crisis." But while the two US companies focus on finance, the MOR-led railway construction belongs to the real economy.

It's true ...

People's Daily | Nov 06, 2011

BEIJING, Nov. 6 (Xinhua) -- Vice Premier Hui Liangyu on Sunday evening attended a reception in Beijing and joined Islamic religious personages and representatives of Chinese Muslims in celebrating the annual Corban Festival.

The reception was held by the Islamic Association of China (IAC) on the eve of this year's Corban Festival, which falls on Monday.

Corban Festival, also known as Id al-Gurban, is a major Islamic festival showing faith and obedience to Allah. People slay livestock and d ...

New York Times | Nov 06, 2011

Murong Xuecun, a popular Chinese novelist, often runs afoul of censors, which has pushed him to become a vocal critic of censorship in China and driven him to publish on the Internet.

Guardian | Nov 06, 2011

• Sale of Pan American stake was to fund Gulf spill costs • Putative buyer Bridas puts blame on BP's 'behaviour' A key part of a BP fundraising programme to help pay compensation and liabilities connected to the Gulf of Mexico oil spill has collapsed in an acrimonious dispute with a business owned by a Chinese state oil group.The failure of a $7.1bn (£4bn) deal to sell its 60% holding in Pan American Energy and a decision not to sell it on elsewhere indicates that BP has diluted plans announced...

Guardian | Nov 06, 2011

The G20 summit proved that China has overtaken the west – and acquired some of its problems on the wayThe global economy has three main pillars: the United States, the European Union and China. America was where the crisis began, with a housing-market bubble that corrupted the financial sector''. Europe is where the crisis now has its locus, amid fears that the single currency could break apart. China, despite steaming ahead since the slump of late 2008, may be next.The fact that...