China Aviation Oil, a Chinese jet-fuel supplier, said it had racked up $550 million in losses on derivative trades and was seeking protection from its creditors. AP also reported that the company has suspended chief executive Chen Jiulin while accountants PricewaterhouseCoopers investigated what went wrong.The scandal could be the biggest case of losses from speculative […]
Read MoreChina,the world’s most populous country is waking up to Formula One and the money-burning sport is eager to tap into it, Reuters reported. The successful inaugural of grand prix in Shanghai last September has generated huge interest in both domestic and abroad businesses. Some Chinese companies start considering buying a F1 team. Carmakers are equally […]
Read MoreThere has been more than 4,500 workers killed on the job in the mining industry in China this year, reported AP. In the country’s most recent disaster, rescuers on Wednesday raised the death toll to 166 following a weekend explosion at a mine in central China.
Read MoreBBC’s Louisa Lim reported on the critical situation of AIDS in Yunnan, a province in southwestern China. She calls Ruili, a town on the border of China and Burma the “ground zero” of China’s AIDS epidemic. While hundreds of people in the area get infected by the disease either through communal needle use or sex, […]
Read MoreToday China’s 1.3 billion people march to the allure of luxury brands including Armani, Cartier and Louis Vuitton, that hold up the illusory promise of beauty, wealth and power, reported China Daily. Investment bank Goldman Sachs estimates the Chinese luxury goods market is already turning over billions of dollars and in 10 years time it […]
Read MoreFrom Xinhuanet: Two hundred condom vending machines have been installed in residential, business and market centers around Shanghai to mark Wednesday’s World Aids Day. The machines are operated by cards that are distributed to residents and entertainment workers free of charge. About 20 percent of residents report using condoms, double the figure reported in 1995.
Read MoreChinese Premier Wen Jiabao sidestepped Japanese Prime Minister Junichiro Koizumi’s invitation Tuesday to visit Japan, a sign ties between Asia’s major powers remain bedeviled by a spat rooted in Japan’s wartime history, reported Washington Post. In a meeting in Laos, Koizumi extended the invitation to Wen, the first since he took over as premier from […]
Read MoreInternetnews.com reported that Google has confirmed that its News site has been blocked in China for a couple of days. The search engine also said its Google News China, Spain and other national versions of the site have been inaccessible from China. In a statement, Google said it’s aware of the problem and working to […]
Read MoreA report by a U.N. agency and the Chinese Cabinet’s AIDS commission released shows that the number of people contracting the AIDS virus in China is rising, reported the Washington Post. An estimated 840,000 people have HIV while 84,000 have full-blown AIDS, spread mostly through prostitution and intravenous drug use. President Hu Jintao shown shaking […]
Read MoreWashington Post reported that thousands of Buddhist pilgrims gathered in the southern republic of Kalmykia on Tuesday for prayers led by the Dalai Lama during his first visit to Russia in a decade. Dalai Lama has been denied entry to Russia for years because of Moscow’s concerns about damaging the relations with China. China expressed […]
Read MoreReuters reported that China is awash in “out of control” acid rain. Acid rain fell on more than 250 cities nationwide and caused direct annual economic losses of 110 billion yuan. The rapidly growing number of cars and increasing consumption of cheap, abundant coal are the main causes of the acid rain in China, as […]
Read MoreChina Daily reported on Monday that Heilongjiang, a northeastern province in China, is turning to ethanol for fuel. Since Nov 1, all gas stations in the province have been ordered to provide ethanol-enhanced gasoline.
Read MoreChina signed a trade agreement with 10 South Asian countries, reports the BBC. The deal could eventually unite a quarter of the world’s population in a free trade zone worth $2 trillion.
Read MoreFrancis Markus of BBC reports that China is revising the death penalty law. According to the official media, the change will make the Supreme Court the ultimate body of appeal in capital cases.
Read MoreAsia Times runs a story today on the impact that the EU’s lift of arms embargo might have on China’s political prisoners. Li Jing wrote, “the news currently making the rounds in in Beijing’s political circles is that China will soon release some political prisoners and commute the sentences of others, in an effort to […]
Read More
Click on the image to download Firefly for circumvention
CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.
