China Archives - Page 44 of 54

Shanghai Forces Social Media Users To Register Real Identity

Shanghai has become the latest major Chinese city to enforce real-name registration laws for users of social media websites, following the example of the capital Beijing set earlier this month.

The new rules are “in line with Chinese laws and regulations to foster a healthy internet culture so as to better manage social networking websites and instant-messaging tools,” said a statement by Shanghai’s municipal authorities, as quoted by Xinhua, on Sunday.

Chinese Province Increases Minimum Wage By 23%

The cost of living in China is rising, with inflation climbing every single month. In order to attract workers, the southwest Chinese province, Sichuan, has raised the minimum wage by a sharp 23 percent amid the rising cost of living.

China’s state media agency, Xinhua, reported yesterday that the province of Sichuan was raising the minimum monthly wage by 23.4 percent starting on the 1^st of January.

Hot Money Flows Out Of China, Japan To Purchase Chinese Debt

For the second consecutive month, financial data revealed a net outflow of foreign exchange from China leading to expectations of another cut in the reserve requirement. Separately, Japan’s finance minister Jun Azumi said that Tokyo was looking to buy Chinese public debt, as a way of diversifying its forex holdings and getting more involved in the world’s second largest economy.

China’s 2012 Outlook: The Bad News about the Reserve Cut

We’ve heard both sides of the debate of how China’s economy will land. Some have predicted a soft landing, others the contrary. At the same time, many others have said 2012 will be the year of the Europocalypse and the final mile for China’s economic boom. But what does the Chinese Central Bank feel about 2012, and what can we infer from the Bank’s recent reserve cut?

FDI In China Falls For The First Time In 28 Months

Foreign direct investment into China shrunk by 9.8 percent year-on-year to $8.8 billion last month, according to data released by the Chinese Commerce Ministry on Thursday.

The figure was the first time in 28 months that FDI growth for China had decreased, with the weakened global economy, particularly in the United States and Europe, seen as the primary cause for downturn.

China Slaps “Anti-Dumping And Anti-Subsidy” Duties On US-Made Cars

The Chinese government has unexpectedly imposed new anti-dumping and anti-subsidy tariffs on sport utility vehicles and midsize and large cars imported from the US, in what many believe to be a retaliatory move against similar actions by the US towards Chinese-made products.

The new tariffs, which will take effect on Thursday, are largely seen to be a symbolic gesture, considering how many US automakers now primarily make much of what they sell in China domestically through joint ventures with other Chinese auto companies.

China Promises To “Actively Expand Imports”

China will further open its economy and “actively expand imports” in the coming years, said its President Hu Jintao to a high-ranking forum commemorating the country’s 10th anniversary of joining the World Trade Organization on Sunday.

In a keynote speech entitled “China’s Opening-Up Strategy toward the Future”, Hu said that his government was committed to opening up the agricultural, services and cultural industries in the country, while adding that more emphasis would be placed on offering equal market access to all types of businesses.

China “Deeply Concerned” With US’s “Strong Tendency For Trade Protectionism”

The Chinese Commerce Ministry has criticised the US for its “strong tendency for trade protectionism”, after a recent preliminary ruling by the US International Trade Commission voted unanimously to investigate charges of unfair Chinese trade practices in the solar panel industry.

China Sees Rapid Growth in Imports As Export Growth Slows

China’s import numbers grew sharply last month while export growth rates slowed to its lowest in months, according to custom figures released by Chinese authorities on Thursday.

The import growth for China in October was 28.7 percent year on year, well ahead of the 23.0 percent forecast and far in excess of September’s 20.9 percent growth rate.

Nearly Half of China’s Millionaires Want to Emigrate

Nearly half of China’s rich are considering emigrating, said a report by the Bank of China and the Hurun Report, with the United States, Canada and Singapore taking the top three destinations spots.

In the joint report published in the Private Banking White Paper 2011, 46 percent of Chinese with assets worth more than 10 million yuan ($1.57 million) are considering moving abroad, while another 14 percent said they had already moved or were applying to do so.