photo: People wait for the national flag-raising ceremony in the public square of Nanchang, via www.fengniao.com.
People wait for the national flag-raising ceremony in the public square of Nanchang, via www.fengniao.com
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Next Wave of Camera-Wielding Tourists Is From China – Howard French
From the New York Times (link) The way it began, with a buffet laid out on deck and “Moon River” oozing from the loudspeakers, it could have been just about any Bangkok sundown cruise. But this one was unmistakably different. Before the boat even left the dock the food disappeared, right down to the last […]
Read MoreYuan rebounds to 8-plus per USD – Xinhua
From Xinhuanet (link) China’s official exchange rate weakened significantly on Tuesday, the central bank announced, defying a gain the day before that helped break through the psychologically important 8 yuan per U.S. dollar level. The dollar, measured by the central parity rate announced by the People’s Bank of China before the market opens each business […]
Read MoreRisks plague Bank of China IPO – Luo Jun and Michele Batchelor
From Bloomberg via the International Herald Tribune (link) Chris Ruffle, a Shanghai-based fund manager, won’t buy Bank of China shares when the nation’s No. 2 lender goes public this month. As a Bank of China customer, he’s all too familiar with the bank’s failings. “I have my Bank of China checkbook in Shanghai, but it’s […]
Read MoreE&Y probe after withdrawal of China NPL report – Richard McGregor and Barney Jopson
From the Financial Times (link) Paul Ostling, global chief operating officer of Ernst & Young, has ordered an internal inquiry into the accountancy firm’s publication of a controversial report on China’s non-performing loans that it was forced to withdraw. E&Y retracted the report, saying its estimate of bad debts for the country’s big four state […]
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