From Bloomberg: Time Warner Inc.’s Warner Bros. International Cinemas unit is planning to build movie cinemas in China’s wealthiest city with Shanghai Shimao Co., according to a statement by Shimao. The two companies have reached a preliminary agreement to build a so-called film metropolis in Shanghai, according to a statement to the city’s stock exchange, […]
Read MoreFrom Bloomberg: China denied reports North Korean leader Kim Jong Il will visit the country to discuss the possibility of resuming the six-nation talks aimed at dismantling the reclusive state’s nuclear program. “As far as I know there is no such arrangement for him to visit,” Foreign Ministry spokesman Qin Gang said in a briefing […]
Read MoreFrom The Wall Street Journal: China will place stricter curbs on land use and raise related taxes and fees for land used in construction, as part of its latest tightening efforts to correct imbalances in the economy’s rapid growth. The guidelines issued yesterday by the State Council, China’s highest executive body, aim to strengthen macro-controls […]
Read MoreFrom Bloomberg: Two former managers at Bank of China Ltd., jailed in Las Vegas on racketeering and money-laundering charges stemming from the alleged theft of $485 million, say they’re being framed to cover up corruption and incompetence at the state-owned lender. “The Chinese government made up evidence and used it to make me look responsible,” […]
Read MoreFrom Brad Setser’s Blog: In July, China’s reserves increased by $13.4b or so, reaching $954.5 billion. China’s July trade surplus was $14.6b. Valuation changes from moves in the euro-dollar didn’t have much of an impact in July. Nor did the yen dollar. The market value of the ten-year Treasury note rose in July (interest rates […]
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