From Xinhuanet, translated by CDT: “Take the money and run” is the profile of corrupt government officials in China. Together with the escaping officials is the outflow of appropriated capital. From 1988 to 2002, a total of $191.357 billion was transferred abroad. And the number is increasing. A recent Chinese government report indicates that among […]
Read MoreFrom Reuters: China’s GDP is likely to have grown 10.4 percent in the first half of 2006, accelerating from 10.3 percent in the first quarter, a government think-tank said in a report published on Tuesday. The Academy of...
Read MoreFrom BusinessWeek: China needs to overhaul its huge power industry and raise prices to discourage wasteful consumption that is adding to already severe pollution, the Paris-based International Energy Agency says. “Too much electricity is wasted by consumers and by networks, so too many power plants are being built to meet this demand,” said Claude Mandil, […]
Read MoreFrom Bloomberg News: China may earn a higher credit rating from Moody’s Investors Service after repaying international debt, boosting reserves and bailing out banks. Moody’s today raised the outlook for the A2 rating on China’s long-term foreign-currency bonds to positive from stable, it said in a statement. The rating, last raised in October 2003, ranks […]
Read MoreFrom Reuters: Liu Guilan had hoped to spend the remaining years of her life quietly in her little village on Beijing’s outskirts. Instead, the 64-year-old now lives in fear of a midnight knock from the demolition man. The water and power to her traditional courtyard house have been cut off since April, and now the […]
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