China’s cabinet announced detailed plans on Monday to deepen economic reform, cutting government interventions that hinder robust growth. It will cancel or delegate power to lower levels for 62 items previously subject to central government administrative approval, after similar approaches removed 71 items last month, according to a statement released after an executive meeting of [...]
BOTTLED water company Nongfu Spring said yesterday it had decided to cease production of barreled water in Beijing permanently following a temporary suspension order imposed by the capital’s quality watchdogs in a dispute over standards. The company said that nearly 100,000 residents in the city who had prepaid would be given five 4-liter bottles of [...]
There has been much discussion recently about making more efficient use of the country’s foreign exchange reserve, which has climbed to more than US$ 3.4 trillion as of April. One eye-catching idea advocates directly handing out the reserve to the people. However, Zhang Bin, a research fellow at the Institute of World Economics and Politics, [...]
After six months of talks, on April 29 leading Internet portal Sina Corp. announced a partnership with the country’s largest e-commerce company, Alibaba Group. Alibaba agreed to a US$ 586 million investment in Sina Weibo, Sina’s Twitter-like service. The deal is the largest equity purchase so far in China’s internet industry. Alibaba would take an [...]
Rapeseed was ripening in the lush fields ringing the village of Renjia when a local farmer, forced from his home, stepped into the sea of green stalks and pitched a tent. Less than a day earlier, the farmer and each of his more than 3,000 neighbors in Renjia had been rendered homeless by a powerful [...]
China and ASEAN members reach consensus on maintaining peace China attaches great importance to its ties with neighboring countries and places ASEAN at a prioritized position in its relations with surrounding neighbors, Foreign Minister Wang Yi said on Sunday before wrapping up a five-day visit. China and members of the Association of Southeast Asian Nations [...]
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