From Financial Times: China and India on Tuesday promised to make co-operation rather than conflict the leitmotif of their rise as global economic powers, but failed to dispel the mutual suspicion that continued to blight bilateral ties. Describing China and India as “two major countries in the emerging multi-polar world order” Hu Jintao, China’s president, […]
Read MoreFrom Financial Times: More than 10 foreign banks accounting for over half the total assets held by overseas lenders in China are expected to move quickly to establish local subsidiaries under landmark rules announced last week, according to the national banking regulator. Wang Huaqing, assistant chairman of the China Banking Regulatory Commission (CBRC), said Beijing […]
Read MoreFrom The Wall Street Journal: U.S. officials said they will encourage more applications from students in China wanting to study in America. Officials from the U.S. Education Department and China’s Ministry of Education signed a memorandum of understanding Thursday about jointly supporting expanded educational opportunities, as well as student and faculty exchanges. U.S. Secretary of […]
Read MoreFrom Financial Times: Wumart, the largest retailer in Beijing, said on Monday its chairman and founder stepped down last week because he was assisting the government with an investigation. Zhang Wenzhong, who set up the supermarket chain in 1994, resigned because he could not continue his role as chairman while the probe was continuing, the […]
Read MoreFrom BBC News: A tense stand-off in a Chinese village has ended after police freed eight officials held hostage by angry residents for nine days, reports say. Residents of Dongzhou in southern Guangdong province seized the officials following the arrest of anti-corruption activist Chen Qian. Eyewitnesses said police stormed a temple where the hostages were […]
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