China, a country with a five-thousand-year civilized history, is teaching its citizens how to behave. Two administrations issued two regulations demanding that Chinese pay attention to everyday etiquette and hygiene while travelling abroad and within the country. According to Xinhua, the Civilization Office with the Spiritual Civilization Steering Committee and the National Tourism Administration jointly […]
Read MoreFrom AP via the Wall Street Journal: A Taiwanese prosecutor indicted two businessmen for breach of trust, but cleared the wife of President Chen Shui-bian of involvement in a scandal surrounding the takeover of an upscale department store. The opposition has accused first lady Wu Shu-chen of accepting free vouchers from the management of Sogo […]
Read MoreMorgan Stanley will become the first foreign bank being allowed to do renminbi business in China, Financial Times reported. In order to protect local banks from foreign banks, which are usually much more competitive and market-oriented, Chinese monetary authorities banned foreign banks from offering renminbi-denominated products. Morgan Stanley will be qualified to apply for a […]
Read MoreNot every one is happy during the National Day holiday. A special team from the Central government is scrutinizing more than 10 Shanghai property developers that might be implicated in the pension fund scandal, Chinese newspaper 21st Century Business Herald reported. Most developers under investigation are among Shanghai’s top 50 real estate companies. Three state-owned […]
Read MoreThe turmoil following the dismissal of Shanghai’s former boss, Chen Liangyu, is far from over, and finally we hear some voices from the masses. They are demanding their pensions, which were embezzled by the greedy officials and businessmen, including Chen himself. Read a story by Geoff Dyer from Financial Times, “Shanghai’s disgruntled want pensions Mao […]
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