From The Financial Times: The tide has turned on overseas Chinese initial public offerings, one of the last outposts of irrational euphoria open to foreigners. In the past week, two IPOs have tanked on their debut on the Hong Kong stock exchange: the latest, Sinotruk , slid 16 per cent on Wednesday, the worst first-day […]
Read MoreFrom AP via yahoo.com: China’s second-biggest life insurer Ping An Insurance said Thursday it had bought a 4.18 percent stake in Fortis NV for ¬£1.81 billion (US$2.67 billion), becoming the Dutch-Belgian company’s single biggest shareholder. Ping An said it has an option to increase its stake in Fortis to 4.99 percent, but added it has […]
Read MoreIn China, slogans in public spaces are one of the ways local or central government communicate their polices to people. Mocking these slogans are a favorite political sport on the Chinese Internet. Here are some examples collected by netizens, translated by EastSouthWestNorth: “Three represents” ‚Ä®
Read MoreFrom AP: Rioters in Chinese-ruled Tibet destroyed shops and government offices following a dispute between Buddhist monks and a local shopkeeper, the government’s news agency reported Wednesday. Seven people were arrested over the Nov. 20 clashes, the Xinhua News Agency said. Among those arrested, it said, were two monks accused of robbing a motorcycle maintenance […]
Read MoreFrom AFP: China is estimated to have about 700,000 HIV/AIDS cases, with tens of thousands of new infections each year, the government said Thursday, but activists warned the problem was far greater. “The result of estimates is that at the end of 2007, China will have about 700,000 HIV/AIDS cases, and 85,000 with AIDS,” Health […]
Read MoreFrom International Herald Tribune: China blocked the visit of a U.S. aircraft carrier battle group and other American warships to Hong Kong last week in retaliation for the Bush administration’s proposed upgrading of Taiwan’s Patriot antimissile batteries, the Chinese Foreign Ministry said Thursday. Beijing also denied that Foreign Minister Yang Jiechi had told President George […]
Read MoreFrom Wall Street Journal: China is set to appoint a new commerce minister with a background in energy, a person familiar with the matter said, while a couple of positions in the central bank will open up shortly with the retirement of two vice governors, another person said. Chen Deming, vice chairman of the National […]
Read MoreMonks at Labrang Monastery in Gansu Province, by Natalie Behring
Read MoreFrom the New York Times: China will allow market forces to exert more influence over the value of the yuan as the country moves toward a fully convertible currency, Prime Minister Wen Jiabao said on Wednesday. His remarks came after European financial leaders visiting Beijing stepped up demands for a stronger Chinese currency, also known […]
Read MoreAs tensions rise inside Tibet between the local population and Han Chinese migrants, the Dalai Lama has raised the ire of Beijing by suggesting that a referendum could determine whether or not he is reincarnated before his own death. From The Times: The exiled Tibetan Buddhist leader proposed yesterday to hold a referendum among his […]
Read MoreFrom Financeasia.com: The fixed-price transaction comes only two days after the Singapore investment company sold shares in Bank of China. Temasek Holdings has sold HK$1.99 billion ($255 million) worth of shares in China Construction Bank (CCB) through a block trade only two days after completing a similar sell-down in Bank of China (BOC) . The […]
Read MoreFrom Reuters, via MSN News UK: Chinese Foreign Minister Yang Jiechi told President George W. Bush on Wednesday that Beijing’s refusal to let a U.S. Navy aircraft carrier into Hong Kong was a “misunderstanding,” the White House said. The Defence Department said it had issued a formal complaint to China and that Beijing still had […]
Read MoreShanghaiist reports on a recent violent attack against NGO workers who support the legal rights of migrant workers: Two weeks ago, when we told you that China’s new labour law was going to be a big, big thing, we had no idea it would also be the cause of some serious blood-letting. Local gangs and […]
Read MoreEthan Zuckerman summarizes Michael Anti’s thoughts about the state of blogging in China today: He offers two reasons why blogs have social impacts: – Because you’re having an election, which means that public opinion matters, and blogs become a political mobilization tool – Because NGOs embrace them and use them to lobby for social change. […]
Read MoreFrom Reuters via yahoo.com: Ten months after they tied the knot, Li Lei and Wang Yang, both 20-something Chinese professionals, decided it was time to break up so they could spend more time with their lovers. They signed on the dotted line on their divorce paper less than 20 minutes after answering “no” to a […]
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