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China News 09/2013 (Page 5)



World Bank Says China Will Reach GDP Target for Year
SHANGHAI — China should hit its gross domestic product growth target of 7.5 percent this year, the president of the World Bank, Jim Yong Kim, said Sunday. But he warned that rising interest rates in emerging markets, in response to reports that the ...

No Faith in Stocks Stops China Effort to Cool Housing: Mortgages
Matthew Zhou and his wife spent 1.6 million yuan ($261,000) to buy a two-bedroom apartment last month in eastern Shanghai after seeing no potential for long-term returns in China's financial markets. “Home prices keep rising, so I'd rather buy a place ...

Hong Kong Shares Go to First From Worst on China Economy Rebound
Hong Kong stocks are beating every market in Asia as China's economy strengthens, rebounding from the biggest drop among developed world shares in the first half. The Hang Seng Index surged 16 percent from its June 24 low, outpacing the 14 percent ...

China Reins in Popular Online Voices With New Microblog Controls
Chinese microblogger Dong Rubin mused to his 45,000 followers last month that he might face arrest amid a government crackdown on Internet rumors. On Sept. 10, he was detained for misreporting the worth of his business. Dong joined a group of people ...

No Confidence in China Markets Inflates Housing Bubble
Matthew Zhou and his wife spent 1.6 million yuan ($261,000) to buy a two-bedroom apartment last month in eastern Shanghai after seeing no potential for long-term returns in China's financial markets. “Home prices keep rising, so I'd rather buy a place ...

RPT-UPDATE 1-China to slap anti-subsidy duties on US solar material
Mon Sep 16, 2013 3:42pm IST. BEIJING, Sept 16 (Reuters) - China said on Monday that it would impose preliminary anti-subsidy duties on some imports of U.S. solar-grade polysilicon, a move that could intensify trade tensions between the world's two ...

UPDATE 1-China's Sinopec to resume large diesel exports with Q4 quota
Mon Sep 16, 2013 6:41am EDT. * Sinopec gets Q4 diesel export quota of more than 1 mln T -sources. * Exports likely to cause slump in diesel processing margins. * Reduced demand, higher India exports add to Asia supply glut (Adds impact on processing ...

State Researcher Says China Local Debt May Top 20 Trillion Yuan
China's audit of local government debt may find that provincial and municipal authorities owe more than 20 trillion yuan ($3.3 trillion), said Liu Yuhui, a researcher at the Chinese Academy of Social Sciences. That would be “way higher” than the level ...

Former NSA director's view of the Internet looks a lot like China's
Michael Hayden, former director of the NSA and the CIA using air quotes at an event earlier this year. (Mark Wilson/Getty Images). BEIJING -- Former NSA and CIA Director Michael V. Hayden's comments on the Internet this weekend in Washington, and his ...

Ship Costs in China Surge to 16-Month High in Sign Imports Gain
The cost of hauling iron ore and coal along China's coast rose to a 16-month high, adding to signs the nation's demand is strengthening for the two commodities that generate the most demand for dry-bulk shipping. The China Coastal Bulk Freight Index, ...

China's state TV says Danone bribed hospitals to push baby milk
SHANGHAI/PARIS | Mon Sep 16, 2013 12:14pm EDT. SHANGHAI/PARIS (Reuters) - Chinese state TV said on Monday that Danone (DANO.PA) had bribed hospital staff to give its milk powder to new-born babies, allegations that the French food group said it ...

China says aims to train astronauts from other countries
BEIJING, Sept 16 | Mon Sep 16, 2013 8:40pm IST. BEIJING, Sept 16 (Reuters) - China aims to train astronauts from other countries who will conduct missions with their Chinese counterparts, state news agency Xinhua cited a senior official as saying on ...

China's Bosses Size up a Changing Labor Force
John Liu is the 31-year-old founder and owner of Harderson International Co. Ltd, a small factory in southern China that applies paint and decals to ceramics and glass. His showroom includes samples of tinted perfume bottles made for Ralph Lauren and ...

China Stocks Fall Most Since July as FDI Slows
China's stocks fell the most in two months after foreign investment data trailed economists' estimates and money-market rates rose before the start of holidays this week. Liquor maker Kweichow Moutai Co. (600519) plunged 5.6 percent, dragging a gauge ...

Researcher Puts China's Local Government Debt at $3.3 Trillion
BEIJING—A Chinese government researcher estimates that China's practices of borrowing heavily to fuel investment-driven growth have as much as doubled local government debt in just two years to around 20 trillion yuan ($3.3 trillion). The researcher ...

Emerging Stocks Fall Most in Two Weeks on China
Emerging-market stocks fell from a three-month high as foreign direct investment in China trailed estimates and lower oil prices dragged down energy producers. Indonesia's rupiah led declines in currencies. China Oilfield Services Ltd. (2883) posted ...

Hong Kong Shares Go to First From Worst on China Rebound
Hong Kong stocks are beating every market in Asia as China's economy strengthens, rebounding from the biggest drop among developed world shares in the first half. The Hang Seng Index (HSI) surged 16 percent from its June 24 low through last week, ...

China Opens World's Highest Civilian Airport
China has begun flight operations at the world's highest civilian airport in a bid to boost tourism and tighten political control over the country's restive west. At an elevation of 4,411 meters (14,472 feet) above sea level, Daocheng Yading Airport ...

UPDATE 1-China renews subsidies for green vehicles
Tue Sep 17, 2013 8:15pm IST. (Adds details of the policy, context). By Samuel Shen and Norihiko Shirouzu. SHANGHAI/BEIJING, Sept 17 (Reuters) - China has renewed private-buyer subsidies for "new energy" or electric-powered vehicles for another three ...

Once China Catches Up--What Then?
Barring any major disruption, the speed at which China is growing in terms of total GDP will enable it to catch up to the U.S. by 2020. China will then go on to surpass America. During the 1978-2011 period China's high average rate of growth–about 10% ...

China Opens Rare Trial of Investigators Accused of Torture
A court in eastern China has opened a rare trial of six corruption investigators accused of torturing to death a public sector engineer whom they were interrogating. The defendants charged with causing intentional injury in the case include five ...

China Developer's 20% Loan After Bank Rebuff Signals Risk
China property developer Zhang Fuguo was rejected by banks for a loan to help keep building two office towers in the central city of Zhengzhou. So he turned to a manufacturer of water and gas meters. The 50 million yuan ($8.2 million) loan last month ...

China's Stocks Rise Before Holiday, Led by Property Developers
China's stocks rose for the first time in four days, led by Shanghai-based companies and property developers. Trading volumes slid before the start of holidays. Shanghai Lujiazui Finance & Trade Zone Development Co. (600663) and CTS International ...

Apple's troubles in China continue
It's time to wonder how many blows Apple Inc. can take to its growth ambitions in the China smartphone market before it cuts its losses there. News this week that China Telecom has cut its subsidies on the iPhone, which it's been selling for a year, is ...

Security Forces Said to Have Killed 12 in Raid in Western China
BEIJING — Security forces in China's far western Xinjiang region last month shot and killed at least 12 men and wounded 20 others during a raid on what the authorities described as a “terrorist facility,” Radio Free Asia reported Wednesday. World ...

Verdict against China's Bo Xilai expected Sunday
SHARE 5 CONNECT 39 TWEETCOMMENTEMAILMORE. BEIJING (AP) — A Chinese court announced that it will deliver a verdict Sunday against disgraced politician Bo Xilai on charges of bribery, embezzlement and abuse of power in a case set in motion ...

China's Debate: Must The Party Follow The Constitution?
If you demand democracy in China, you can quickly find yourself at odds with the government. So these days, reformers are trying to use the constitution to make the party accountable to the people. But that didn't keep a Shanghai professor from getting ...

China's New Electric Vehicle Subsidies: Winners And Losers
A man cleans a concept electric car by joint Nissan-Dongfeng company Venucia, at the Auto China 2012 car show in Beijing. (Image credit: AFP/Getty Images via @daylife). On September 17th, the Chinese Ministry of Finance announced the long anticipated ...

China's Phony War on Corruption
The Mid-Autumn Festival on Thursday is an occasion when Chinese exchange gifts of mooncakes, a calorie-laden treat. But this year tradition collided with a government campaign against the “four decadences”: formalism, bureaucratism, hedonism and ...

China Credit Slowdown Signals Drop in Macau VIP Spending
Bloomberg. Macau's high-stakes gambling volume should expand through year's end, then slow in 2014 as China's decelerating loan activity filters into the economy, according to Wells Fargo & Co. The CHART OF THE DAY compares growth of Macau's ...


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