China News

People's Daily | Nov 25, 2011

BEIJING, Nov. 23 (Xinhua) -- The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, retreated 3.62 points, or 0.42 percent, to close at 864.81 on Wednesday.

The index, together with the Shenzhen Component Index and the Shenzhen SME (small and medium-sized enterprises) Board Index, makes up the three core indices reflecting the performance of China's stocks listed on the Shenzhen Stock Exchange.

The ChiNext Board, which started trading on Oct. 30, 2009, mainly lists h ...

People's Daily | Nov 25, 2011

COLOMBO, Nov. 23 (Xinhua) -- Two prominent UK and Chinese companies are bidding for the contract to build the 500 million U. S. dollar Colombo South Harbor Container Terminal in Sri Lanka, an official said here on Wednesday.

UK group Boskalis International, along with China Harbor Engineering Corp and China State Engineering Corp are the three companies engaged in the bidding.

The official who did not wish to be named confirmed that the winning bidder will be selected in December and const ...

People's Daily | Nov 25, 2011

BEIJING, Nov. 23 (Xinhuanet) -- As China continues the reform of rural credit cooperatives (RCCs), investment opportunities for foreign capital will increase, officials and analysts said.

"We expect more RCCs will be transformed into rural commercial banks after equity reform, and foreign investors are welcome to become strategic partners and make long-term investments," said Yin Youxiang, head of the rural financial service regulatory division of the cooperative finance supervision departmen ...

People's Daily | Nov 25, 2011

German-based Merck KGaA, the world's leading pharmaceutical and chemical group, will soon open a liquid crystal (LC) laboratory in Shanghai this month to speed up the localization of its LC business in China.

The new laboratory will not be very big to start, with less than 20 staff providing supportive services to its clients in China, said Alasdair Nigel de Mouilpied Jelfs, managing director of Merck Chemicals China.

The new laboratory will bring staff from Merck's headquarters in Germany ...

People's Daily | Nov 25, 2011

BEIJING, Nov. 23 (Xinhua) -- The Ministry of Finance announced Wednesday lottery sales in China rose 33.9 percent year-on-year to 178.09 billion yuan (27.96 billion U.S. dollars) in the first 10 months this year.

Sales of welfare lottery tickets gained 33.2 percent from one year earlier to reach 103.07 billion yuan, while sales of sports lottery tickets climbed 34.8 percent to 75.03 billion yuan in the same period, the ministry said in a statement on its official website.

In October, sales ...

People's Daily | Nov 25, 2011

Hong Kong's inflation increased more than economists expected in October as higher rents pushed up prices.

Consumer prices rose 5.8 percent from a year earlier, the same pace it expanded at in September, the government said on its website yesterday.

Housing rents are still at an "elevated" level as the average prices in August through October rose 11 percent from a year earlier to HK$20.5 (US$2.63) per square foot, according to Centaline Property Agency.

The government cut this month ...

People's Daily | Nov 25, 2011

BEIJING, Nov. 22 (Xinhua) -- China's top economic planner confirmed on Tuesday that it has approved a pilot greenhouse gas emission rights trading scheme in seven provincial regions in an effort to encourage carbon emission reductions.

The municipalities and provinces given the green-light include Beijing, Tianjin, Shanghai, Chongqing, Shenzhen, Hubei and Guangdong, an official with the National Development and Reform Commission told Xinhua under the condition of anonymity.

However, the of ...

People's Daily | Nov 25, 2011

SHANGHAI, Nov. 22 (Xinhua) -- More than 50 percent of luxury purchases by Chinese consumers take place overseas, of which half take place in duty-free shops, according to a report issued on Monday.

The 2011 China Luxury Report was jointly released by the Research Center for Luxury Goods and Services at Beijing's University of International Business and Economics (UIBE) and Fortune Character, a lifestyle magazine targeted at wealthy people.

One-hundred and fifteen products from 65 internati ...

People's Daily | Nov 25, 2011

BEIJING, Nov. 22 (Xinhua) -- China should continue its credit support for cash-strapped small firms while keeping overall credit volume stable, a senior central bank official has reiterated.

A statement posted Tuesday on the website of the People's Bank of China, or the central bank, quoted the organization's vice governor, Hu Xiaolian, as saying that China should also guide banks to offer more funding to agricultural sectors, major ongoing construction projects and affordable housing program ...

The Sydney Morning Herald | Nov 25, 2011

In the growing rivalry between the emerging superpowers, China scored - on the chess board.

BBC | Nov 25, 2011

The head of China's state-run CNPC oil firm is censured over last year's pipeline blast and spill in Dalian, one of the worst in the country's history.

Washington Post | Nov 25, 2011

TAIPEI, Taiwan — Taiwan’s president urged China on Friday to respect the artistic freedom of outspoken Chinese artist Ai Weiwei, who was detained for nearly three months earlier this year and is currently confined to Beijing.
“He’s an artist and should have the freedom to express his artistic views,” President Ma Ying-jeou said after viewing Ai’s exhibition at a Taipei museum. “This is also the core value of Taiwan.”

npr | Nov 25, 2011

China's "one-child" policy has repressed and stabilized the number of births, but the market for baby products has exploded. The growth is driven by rising incomes and the intense focus on the single child with interesting twists. For instance, baby formula sales have gone way up because people are now spending more money on foreign formula products because they no longer trust Chinese companies after the melamine poisoning of several years ago. » E-Mail This    ...

Voice of Russia | Nov 25, 2011

Later this Friday, the Russian Proton-M booster is due to blast off from the Baikonur space centre, which Russia leases from Kazakhstan, to put China’s AsiaSat-7 communications satellite into orbit. The blast-off has been scheduled for 23:10 Moscow time.

Los Angeles Times | Nov 24, 2011

Unlike lawyers or bankers, domestic workers are barred from seeking permanent residency even after decades in the city. Recent legal challenges have produced mixed results.For the last 20 years, Josephine Gutierrez, a native of the Philippines, toiled six days a week in the home of a Hong Kong family. On her day off, she attended church and was active in charity work. Her fourth child was born in Hong Kong.