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China - People's Daily Online
Glacier at source of Yangtze River retreats
&$ &$Ships navigate in the Yangtze river, Dec. 3, 2009. The Yangtze River, the longest river in China linking the western, eastern and central regions, whose main channel coursing over a distance of 2,800 kms, has long been famed as the "golden channel" as it serves as a key factor in inter-province business navigating and the regional economy. A total package of 43 billion yuan (6.3 billion U.S. dollars) investment is to b ...
Chinese Vice Premier urges more efforts for 3G development
Chinese Vice Premier Zhang Dejiang Wednesday said the country should step up efforts to promote the development of third-generation (3G) and domestically-developed TD-SCDMA technology. Zhang urged accelerated construction of the 3G network, strengthened technological innovation and enhanced information security management, during a visit to the country's four major 3Goperators including Datang Telecom, China Telecom, China Unicom and China Mobile. Zhang said the 3G technology should be g ...
China, Singapore seek to further military ties
China and Singapore pledged to further boost military cooperation at a high level meeting of senior military officers on Wednesday. "The Chinese and Singaporean armed forces have conducted diversified and pragmatic cooperation, and maintained a good momentum of development of their relations, " said Chinese Defense Minister Liang Guanglie when meeting with Singapore's Chief of Army Neo Kian Hong in Beijing. Liang said China was willing to work with Singapore to further expand fields of m ...
Three detained for fabricating, spreading rumor on ethnic dispute
Police in south China's Guangdong Province have detained three men for allegedly fabricating and spreading rumors that some Uygur ethnic people were beaten up by passers-by and security guards for theft. A native of Guangdong surnamed Chen made up the initial rumor after seeing a brawl between two security guards and four foreigners on Dec. 22 in the provincial capital of Guangzhou, the city's public security bureau said Wednesday in a statement. Chen spread the rumor on the Internet, wh ...
2009 a fruitful year in Sino-Mexican ties: Chinese ambassador
China and Mexico made new progress in developing their relations in 2009, China's Ambassador to Mexico Yin Hengmin said in a recent interview with Xinhua. Yin also expressed optimism about the development of China-Mexico relations in 2010. In February 2009, Yin said, Chinese Vice-President Xi Jinping made an official visit to Mexico, during which the two nations signed several cooperation agreements. China and Mexico have had effective cooperation through bilateral as well as multila ...
Endangered species protection assured in HK
Acting Secretary for the Environment of Hong Kong Kitty Poon Wednesday said there were 69 successful prosecutions related to illegal import of endangered species in the first 11 months of 2009. Poon told lawmakers on Wednesday that the numbers of prosecutions were 73 and 61 for 2007 and 2008 respectively and reiterated the government's commitment to the protection of endangered species and implementation of the Convention on International Trade in Endangered Species of Wild Fauna and Flora. ...
The Economist: China's economy
Taiwan and China: Strait talking
Wed, 30 Dec 2009 10:39:16 -0000
Progress in talks with China is a mixed blessing for Ma Ying-jeouRELATIONS between Taiwan and China may be better than at any time since Nationalist forces routed in China’s civil war fled for Taiwan in 1949. But not everyone is cheering. Chen Yunlin, China’s most senior Taiwan negotiator, visited Taichung in central Taiwan in December to sign three technical accords (covering co-operation on fishing, industrial standards and the quarantine of agricultural products). But public support in Taiwan for President Ma Ying-jeou’s China-friendly policies seems to be eroding. The opposition Democratic Progressive Party (DPP) claimed 100,000 people had joined its protest rally on December 20th. (The police estimated 30,000.) They condemned the pact the government wants to sign with China, formally known as the Economic Co-operation Framework Agreement, or ECFA, saying it would cause thousands of job losses and lead to an influx of cheap Chinese goods. Mr Chen was dogged by protesters, albeit in far smaller numbers than on his first visit in November 2008. In the worst scuffle, a policeman was badly hurt and six people detained. ...
Banyan: Currency contortions
Thu, 17 Dec 2009 11:02:55 -0000
Tensions are likely to rise further over China's exchange rateA COMMUNIST leadership always on full alert for violations of national sovereignty has lately grown shrill over calls by American and European policymakers to raise the value of the Chinese yuan, kept low by a heavily managed currency regime. Recently the prime minister, Wen Jiabao, presided over a grumpy summit between China and the European Union. There he berated his guests for their “unfair” pressure to revalue the yuan. The mantra of Mr Wen and other Chinese leaders is that the yuan ain’t nobody’s business but their own.This message cannot be immune forever to reason, and an almighty international ruckus over the Chinese currency looks likely in the coming months. A tiny economy may enjoy what Martin Wolf, a columnist at the Financial Times, calls “the liberty of insignificance”. But China is the world’s largest exporter, with $2.3 trillion of foreign-exchange reserves. The scale and consequences of its currency regime are alike unprecedented. ...
A Chinese wind-power IPO : Puffed up
Thu, 03 Dec 2009 10:55:31 -0000
Investors are breathless over China’s biggest developer of wind farmsCHINA’S biggest producer of wind power, China Longyuan Power, is in essence a staid regulated utility. It buys turbines, erects them and sells the electricity they generate to China’s power distributors at prices fixed by the state. So why is its initial public offering next week on the Hong Kong Stock Exchange generating such excitement?The offering is likely to value the firm, the former research arm of the ministry of energy, at nearly 30 times next year’s projected profits. Despite this heady figure, the tranche of shares being marketed to institutional investors is over eight times oversubscribed; the one for individuals, almost 30 times. The firm plans to sell 30% of its shares, but could, if it wanted, offload far more. The only check on price is not demand but rather caution among the bankers handling the sale, because a series of recent offerings in Hong Kong have dropped after listing. ...
Banyan: The world's forgotten fair
Thu, 03 Dec 2009 10:55:30 -0000
Next year's World Expo in Shanghai has a little-known precedentMORE familiar these days with the works of Adam Smith, China’s leaders may nonetheless recall Marx’s adage that history repeats itself, first as tragedy, second as farce. This might explain their apparently wilful oversight of an important event in Chinese history. In 1910 modernisers in the imperial court sought to whip up national pride by staging a world’s fair. The models were the West’s great expositions, whose iconic edifices, such as the Eiffel Tower and Crystal Palace, had inspired visitors with the industrial world’s swelling might. Too late, alas. The Manchu empire collapsed a year later. Undaunted, China’s Communist rulers, nurturing similar dreams, are having another go. Officials in Shanghai, where the 2010 World Expo will run from May until October, understandably do not dwell on the historical precedent. The Shanghai fair, said the bid document the city submitted in 2000 to the body governing world’s fairs, the Bureau International des Expositions (BIE) in Paris, would be the first in any developing country. Technically, that might be right. Before the BIE’s founding in 1928, no rules covered what constituted “world’s fairs”. But many cities had already held them, beginning in 1851 with London, in its now-ruined Crystal Palace. ...
Cap and tirade
Thu, 03 Dec 2009 10:55:30 -0000
America struggles with climate-change legislation“WHAT that means in code”, Senator Bob Corker, a conservative Republican from Tennessee, told the audience at a hearing of the Senate Committee on Energy and Natural Resources about America’s proposed climate-change legislation, “is we’re transferring wealth from our companies and our citizens…to raise carbon prices and send money abroad.”Senator Maria Cantwell, a left-wing Democrat from Washington, does not normally agree with Mr Corker, but her line of reasoning was similar. In costing the bill, she said, the Environmental Protection Agency had estimated that $1.4 trillion dollars a year would go abroad to cover the generous provision for offsets in the bill. “What can we buy abroad for that? Can’t we spend this money on developing technology at home?” Senator Corker was fairly sure that the foreigners would find things to sell America. “When $1 trillion comes around there are hucksters all over the world who will do business with you.” ...
China's latest commodity boom: The price also stinks
Thu, 26 Nov 2009 11:40:33 -0000
A new twist on garden-variety speculationWORRIES about overheating in China usually focus on obvious candidates: property in big cities, mainland stockmarkets and so forth. On November 25th China tightened the rules on foreign-currency transfers by individuals in a bid to control flows of hot money into the country. But signs of frothiness are also cropping up in odd places: garlic has become an unlikely target for Chinese speculators.According to reports in China Business News, prices in Jinxiang, China’s garlic-growing capital, have seen a fortyfold increase since March. Further down the supply chain, garlic prices have jumped tenfold on wholesale markets in big cities and fourfold nationwide. That compares with a meagre doubling in the price of copper this year and a 77% increase in the Shanghai stockmarket. ...
