A CCTV report posted to Bilibili celebrating construction workers laboring in extreme heat came under severe criticism online this week. The report focused on workers in Xiong’an, Xi Jinping’s pet urban development...
A massive, months-long heat wave has scorched regions in central China. Intense droughts and evaporating water sources have choked energy supplies in several regions reliant upon hydropower, causing widespread power cuts and...
At The Atlantic, Damien Ma translates some “classic quotes” from a new collection of Zhu Rongji’s speeches and letters: “You (referring to cadres) are neither diligent nor independent. You go out drinking...
From Economic Observer Online: China has averted the threat of its economy overheating, concluded a recent report issued by China’s State Information Center (SIC) on the country’s present economic situation. The...
From Bloomberg: Chinese bankers say monetary policy is too tight and their expectations for interest rates to rise have eased, a central bank survey showed. Policy is “tight” or “too tight,” according to...
The Shanghai stock market index slumped badly these days. Although the economy seems cooler now, the inflation is still high. The government has heavy pressure on macro-economy adjustment. From Los Angeles Times: China’s...
From International Herald Tribune : A year ago, investors like Guan Ling were ebullient. The mainland Chinese stock markets had climbed about 500 percent in two years, setting off a stock buying frenzy. When experts periodically...
An article from AP via Newsweek discusses China’s approach to its inflation problem, and also explores the possible consequences of the use of governmental controls in a capitalist economy. Fighting stubbornly high...
From The Financial Times: There have been many casualties in the past few days of stunning share price declines and one of those could be the idea that the Chinese market operates in its own parallel universe. Mainland shares had attracted a huge amount of overseas interest in recent months, not just because of the […]
The New York Times writes about fears that the sudden downturn in China’s stock market will create instability in the run-up to the Olympics: This country’s young stock market, which only came into being in 1990, has been prone to frenzied and hysterical buying and selling. Big price swings are closely watched, not just by […]
A man tried to commit suicide in Wangfujing business center in Beijing, when the Chinese stock market slumped recently. A group of policemen hurried there and tried to save him. From forum.dwnews.com , produced by animoto:
From Reuters via The Financial Times: China’s cabinet said on Wednesday that it would temporarily intervene in the market to curb price rises of basic necessities like food, underlining its concern over mounting inflationary pressures. China is currently facing its worst consumer inflation in 11 years, driven largely by soaring food prices. Inflation has sometimes […]
From Reuters via International Herald Tribune: China’s central bank will implement a tight monetary policy in 2008, using a range of tools to keep a check on liquidity, the central bank governor, ?Zhou Xiaochuan , reaffirmed. The People’s Bank of China has waged a war on excess liquidity and inflation in 2007, raising interest rates […]
From AP via CNNMoney.com: China’s stock market wound up a stellar – and turbulent – year Friday, with its benchmark Shanghai Composite index having soared nearly 97 percent, making it the world’s best-performing major stock index in 2007. But worries that authorities will raise interest rates or take other steps to cool the country’s blazing […]
The year of 2007 is regarded as a year of overheating for the Chinese economy, especially in the financial market. This year, IPOs and domestic merger and acquisition activities in China increased continually. Overseas investors are envious of the booming capital market in China; however, they are also cautious about the future success of capital […]
From New York Times: China said today that for the 10th time this year, it would order banks to raise the amount of cash they set aside, in order to curb inflation and prevent the economy from overheating. The Central Bank said that it had ordered banks to increase their reserve ratios by a full […]
From The Financial Times: China is to extend a clampdown on new bank lending into next year because of fears that rising inflation could become unmanageable, according to bankers, officials and economists. An annual economic policy meeting of top political and economic leaders that wraps up on Wednesday in Beijing is expected to decide to […]
From Bloomberg: China plans to shift to a “tight” monetary policy in 2008, signaling the government may raise interest rates further and allow quicker currency appreciation as the economy heads for its fastest expansion in 12 years. The central bank changed its stance from the “moderate tightening” bias of recent months and “prudent” policy of […]
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