Mark Zuckerberg, chairman and chief executive of Facebook and probably the youngest dollar billionaire in the world, has picked China once more for a spectacular publicity stunt. Zuckerberg is known for his keen interest in China – or more accurately, the potential of the Chinese market. Facebook has been blocked in China for several years and it is not a secret that Zuckerberg wants to expand his business to the country. During the past years, he has intensified his efforts to court s…
The once-in-a-year consumer TV program aired on China Central Television (CCTV) on the World Consumer Rights Day is just an arena for consumers to vent their anger against the unscrupulous merchants. It is doubtful whether the 25-year-old annual consumer gala can play a key part in wiping out bad corporate practices.
Some observers pointed out that China’s rapid development offered unthinkable opportunities for architects and city-planners alike. And one can get the impression that China was welcoming that change. Within a few years, Chinese cities offered remarkable new architectures which some believed were only possible to build in China.
The strategic relationship between China and the United States is facing a vital moment, with the US presidential election getting underway.
The economic modernization of China was accompanied by a steady increase in income inequality. Compared with its egalitarian past, public goods like education, medical care and wealth are now very unequally distributed among the people.
Many people are currently wondering about the status of the Chinese economy. The economic growth rate now has hit as low as it was 25 years ago. In the third quarter of 2015 it was only 6.8 percent. With 6.9 percent of annual growth, the Chinese economy is not delivering the results the government has wanted it to achieve.
President Xi Jinping is now set to make his first official visit to the Middle East touring Iran, Saudi Arabia and Egypt from January 20, according to official agencies in Iran and Egypt. This would be the first time in 12 years that a Chinese president will visit Iran and Egypt.
China’s movie is already one of the most important markets worldwide and it is growing rapidly. Among the Top 10 all-time hits in China, eight are from 2015 or 2014. Currently the Chinese-Hong Kong adventure film Monster Hunt tops the list with revenue of roughly 2.44 billion yuan, closely followed by Furious 7 with 2.43 billion yuan.
Compared with private firms, the state-owned enterprises (SOEs) violate environmental laws more frequently but receive fewer and lighter penalties from government authorities for violations.
Holidays and other popular events are always a critical time and security is more important now than ever, given the threat from the terrorists. It is a relief to know that no violent incident took place during the Christmas in Beijing, although the authorities had issued a yellow alert and several embassies, including those of France, United States and England, had warned of threats of attacks against westerners in the area around the popular bar district Sanlitun. Besides security …
Monday was the first stock trading day of 2016 and also the first day the new system-wide circuit breaker became operational in mainland China.
This year China’s slowdown truly became center stage between a summer rout in Shanghai shares and a surprise devaluation in the yuan sending global markets into a tailspin. Since then it appears calm has returned, thanks to Beijing intervening to the tune of billions of dollars to support equities and the yuan.
The force will not arrive in China until 9th January. The launch of the new Star Wars saga was meant to be a global event – therefore it feels a bit weird to know that friends and family back home have already watched the new part of the successful American space-saga, while fans in China (including me) still have to wait until it is released in January. But the worldwide hype, or should I say the excitement prior to the official global release, contrasts sharply with the rather ind…
There was something different about Beijing last week. Looking at the hazy grey-yellow air and the bad, heavy smell of winter-smog – the nouveauté was definitely not the poor air. Maybe it was the event which happened prior to the descending dome of fine particulates. For the first since the introduction of the four-tier official smog alert did the authorities declare the highest alert for air pollution. It instantly became an international media event. Reporters from all ar…
The extreme air pollution in Beijing came at the right time, and serves as an important reminder for why this climate conference in Paris is of utmost importance. The air pollution in Beijing is a palpable sign of a rapid decline of general life quality.
The Chinese growth miracle of the past few decades has been driven by investing and exporting, not consumer spending. Lately, though, we’re hearing a lot about a “great rebalancing” in which domestic buyers of cars, phones, clothes, health-care and other consumer goods and services come to play a much bigger role in China’s economy.
Back in 2004, when I ran the China desk at the International Monetary Fund, my team sent some written questions to Beijing ahead of our meetings with Chinese officials. China’s central bank had claimed that the value of the currency, the renminbi, was determined by market forces. But to the rest of the world, it looked like the currency’s value was tightly managed — so tightly that its value relative to the U.S. dollar did not change. We asked how this was possible if the exchange rate was …
Economic observers have reason to believe that China’s economy is reaching a turning point or is already in the midst of comprehensive change. Slowing rates of growth and serious problems in the country’s stock market are the most visible signs of such change. The Chinese president acknowledged this situation back in May 2014 when he put forward the term “New Normal”, or Xin Changtai, which he described as a new strategic opportunity for China’s development. …
The debate about whether China faces a hard or soft landing is little more than semantics to shareholders of the world’s miners, who have seen their stocks lose three-quarters of their value since 2011.
In its ongoing quest for glory and global influence, China appears to have won a notable victory. The International Monetary Fund is set to anoint the renminbi -- the "people's currency," also known by the name of its biggest unit, the yuan -- as one of the world's reserve currencies along with the dollar, pound, euro and yen. For those who fear (or hope) that China will eventually transform the postwar economic order, this appears to be the first step toward dethroning the dollar.