From Bloomberg: China’s government may issue its first high-speed wireless license within six months, an executive said, opening up a market with more subscribers than the combined populations of the U.S. and Japan. “We can’t drag on any longer if China expects to provide 3G services by the 2008 Olympics” in Beijing, Zuo Xunsheng, chief […]
Read MoreFrom Bloomberg: China Construction Bank Corp. agreed to buy Bank of America Corp.’s Hong Kong and Macau branches for HK$9.7 billion ($1.24 billion), the largest overseas acquisition by a Chinese lender. The takeover will give China’s third-largest bank 17 outlets with HK$7.4 billion of net assets, the Beijing-based company said in a statement today. Construction […]
Read MoreFrom tcsdaily.com: Between 1990 and 2002 more than 174 million people escaped poverty in China, about 1.2 million per month. With an estimated $23 billion in Chinese exports in 2005 (out of a total of $713 billion in manufacturing exports), Wal-Mart might well be single-handedly responsible for bringing about 38,000 people out of poverty in […]
Read MoreFrom AP via The Wall Street Journal: Taiwan’s main opposition party, the Kuomintang, or Nationalist Party, once considered one of the world’s wealthiest political groups, said it lost 42.7 billion New Taiwan dollars (US$1.3 billion) on investments over the past decade. The party’s losses began in 1996 on a wide range of investments in Taiwan […]
Read MoreFrom The Wall Street Journal: China’s water pollution and its shortage of clean water are hindering the country’s economic development as rapid urbanization overwhelms the system, a top official warned. “Generally speaking, the situation is deteriorating,” Qiu Baoxing, vice minister of construction, said yesterday in Beijing. The problems are worsening despite a strong push by […]
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