Latest Beijing News
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Oil slips more than $1 on weak China data Fed policy plan
Thu Jun 20, 2013 12:34am EDT * China June flash HSBC PMI hits 9-month low on weak demand * Bernanke says Fed likely to reduce bond buying this year * Dollar firm after posting best one-day gain in over a month * Coming Up: U.S. existing home sales May; 1400 GMT By Manash Goswami SINGAPORE, June 20 (Reuters) - Oil slipped more than $1 on Thursday, its biggest daily slide in nearly three weeks, as ...
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Asia Markets Asia stocks take double hit from Fed China data
HONG KONG (MarketWatch) -- Asian stocks fell Thursday as data showed Chinese manufacturing activity deteriorating further in June, adding to the selling pressure after the Federal Reserve signaled it may wind down its bond purchases if the U.S. economy continued to ...
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China jails 11 for inciting extremism related crimes in Muslim region before riot anniversary
BEIJING, China - Chinese courts have sentenced 11 people for inciting religious extremism and related crimes in the northwestern Muslim region of Xinjiang, just weeks ahead of the anniversary of bloody ethnic rioting that spread through the region four years ago. The Justice Ministry's official newspaper Legal Daily said Thursday that Aihetaimu Heli was given the harshest sentence of six ...
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Chinas money rates hit record PBOC squares off with market players
* PBOC refuses to use reverse repos to inject money * No easing despite signs of economic slowdown * C.bank aims to force institutions to de-leverage - traders * Panic prevails among some small institutions - traders * But conditions expected to improve from mid-July By Lu Jianxin and Gabriel Wildau SHANGHAI, June 20 (Reuters) - China's interbank funding costs surged again on Thursday, with ...
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Hong Kong shares sink to 9-month low as Fed weak China flash PMI weigh
HONG KONG, June 20 | Wed Jun 19, 2013 11:35pm EDT HONG KONG, June 20 (Reuters) - Hong Kong shares extended losses to a nine-month low on Thursday, with defensive counters sliding after the U.S. Federal Reserve signalled a tapering of stimulus and cyclicals hurt by a weak China factory activity. At 0330 GMT, the Hang Seng Index was down 2.5 percent at 20,443.8 points, breaking below ...
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China Russia face sanctions in wake of US world human trafficking report
US Secretary of State John Kerry speaks during an event releasing the Annual Trafficking in Persons Report (TIP) Report at the State Department in Washington, DC, June 19, 2013. The United States on Wednesday downgraded China, Russia and Uzbekistan to the bottom of a US table for failing to make greater efforts to combat human trafficking, a move that may spark sanctions. (Saul Loeb/AFP/Getty ...
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Daimler creates China sales unit at Stuttgart HQ
German automobile giant Daimler AG, which owns the Mercedes-Benz car brand, has established a special sales unit in its Stuttgart headquarters dedicated to growing vehicle sales in China, amid a slowdown in China's luxury car ...
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Shanghai GM to build Cadillac plant in China
Shanghai General Motors Co. will build a Cadillac plant and a pan-Asia technical automotive center in Shanghai, sources with the company said at a groundbreaking ceremony held for the plant on ...
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Alpine azalea flowers seen near Segrila Mountain in Nyingchi Chinas Tibet
Photo taken on June 19, 2013 shows alpine azalea flowers near the Segrila Mountain in Nyingchi, southwest China's Tibet Autonomous Region. Alpine azalea flowers grown at an altitude between 2,500 meters and 4,000 meters have been in full bloom recently. (Xinhua/Wen ...
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Polluting to death China introduces execution for environmental offenders
Politics China has introduced "harsher punishments" for breaking the nation's environmental protection laws: reckless violators of pollution standards in the world's biggest and fastest-growing economy now face execution. A new judicial interpretation taking effect on Wednesday has tightened Chinese "lax and superficial" enforcement of environmental protection ...
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Economic Report China factory activity slowing further in June
LOS ANGELES (MarketWatch) -- China's manufacturing sector was slowing further in June, according to HSBC's preliminary results from its monthly survey, released ...
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China manufacturing shrinks
A SURVEY shows manufacturing in China contracted this month on weakening demand, adding to fears about the strength of the recovery in the world's second-biggest economy. HSBC on Thursday said the preliminary version of its monthly purchasing managers index fell to a nine-month low of 48.3 in June. That's down from 49.6 in May. Numbers below 50 indicate a contraction. June factory output ...
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China manufacturing shrinks
A SURVEY shows manufacturing in China contracted this month on weakening demand, adding to fears about the strength of the recovery in the world's second-biggest economy. HSBC on Thursday said the preliminary version of its monthly purchasing managers index fell to a nine-month low of 48.3 in June. That's down from 49.6 in May. Numbers below 50 indicate a contraction. June factory output ...
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China overnight repo rate surpasses 13 pct highest on record
SHANGHAI, June 20 | Wed Jun 19, 2013 11:09pm EDT SHANGHAI, June 20 (Reuters) - A key interbank lending rate in China's money market reached its highest level in at least 10 years on Thursday. The weighted-average one-day bond repurchase rate reached 13.1 percent On Thursday morning, the highest level since Reuters' historical data series began. A severe liquidity squeeze has ...
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China The Dark Side of Growth
Emerging from the ranks of one of the world's poorest nations to second only to the United States, China is destined for a place in history books. But history may also record the heavy price paid by Chinese people and will continue to pay for years to come. China's steady rise against the backdrop of a sluggish global economy has emboldened Chinese leaders to claim firm confidence in ...
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Chinas largest search-and-rescue ship to visit Sydney
China's largest search and rescue vessel will visit Australia this week on its first international voyage.The MV Haixun 01 will arrive at Sydney's Garden Island port on Saturday, where it will remain till June 28.The ship will then head north to Australia's tropical paradise Cairns, which it will call home for four days during the Asia- Pacific Heads of Maritime Safety Agencies ...
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Sovereignty of countries should be respected in using resources China
A Chinese diplomat on Wednesday said that all countries have indisputable sovereignty over the resources within their territory, stressing the importance of the relationship between natural resources and prevention of conflicts.Wang Min, China's deputy permanent representative to the UN, made the remarks at a Security Council meeting on conflict prevention and natural ...
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Xi China Vietnam should follow path of friendly cooperation
Chinese President Xi Jinping (L) and Vietnamese President Truong Tan Sang wave during a welcoming ceremony in Beijing, capital of China, June 19, 2013. Photo: XinhuaChinese President Xi Jinping on Wednesday urged China and Vietnam to "unswervingly march together along the path of friendly cooperation" despite distractions.Xi made the comments during his three-hour-long talks with ...
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Chinas interbank rates swing back to high level
Borrowing costs between Chinese banks soared Wednesday after a brief retreat from high levels, suggesting the market remains concerned of a liquidity shortage.Shanghai Interbank Offered Rate (SHIBOR) overnight rate surged 216.9 base points to 7.66 percent, reversing from downwards in the last two days. The SHIBOR overnight rate hit a record high at 9.58 percent last week before plunging to 4.81 ...
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Australian entrepreneurs eager to benefit from Chinas booming demand
Around 100 Australian entrepreneurs gathered in Melbourne Wednesday to find out how to seize the golden opportunities emerging from China's booming economy and demand, especially during Beijing's 12th five-year plan.The Australia-China Business Week forum, also attended by officials from the Chinese Consulate-General in Melbourne and government of the Victoria State, as well as some ...
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Liquidity crunch to plague China
BEIJING - The recent interest rate increases in China's inter-bank market have raised concerns over a liquidity crunch, but experts have viewed it in the context of weak economic recovery and argued that liquidity is ...
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Most costly takeover boosts Chinas dairy restructuring
Yashili milk formula products at an expo in Beijing in July. Yashili was ranked eighth in China's milk formula market and had a growth rate of 35.8 percent last year. [Photo / Provided to China ...
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Coming soon Chinas first space lecture
Wang Yaping, the female crew member among three ';taikonauts,'; will broadcast a lecture to students throughout China about physics from a space ...
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Netizens divided over China dog meat festival
An animal rights group has failed to stop a festival in southern China dedicated to dog meat, which has garnered much media attention and divided China's internet community in recent ...
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China maintains cautious monetary stance
The Chinese central government said on Wednesday it will continue its prudent monetary stance while the world's second-largest economy slows down, with the market seeing its worst cash crunch in at least seven years. In a statement after a meeting chaired by Premier Li Keqiang, the State Council, China's cabinet, said the economy is generally stable. The prudent monetary stance ...
Beijing Feature
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Massive Beijing Subway expansion plans
The Beijing Subway is one of the biggest, most efficient and most used subways in the world. It is constantly undergoing expansion and upgrades, and yet is unable to keep up with the growth of the capital city. With the recently announced plans for the expansion of the subway by over 60%, the city will certainly be hard-pushed to meet the massive task.
The Beijing Subway is one of the largest in the world. It carries over 5 million people every day, and hundreds of trains run on 228kms of track and service 147 stations. It is a feat of engineering, planning and coordination every single day. It is a network that Beijing commuters should be proud of, it represents the forward-thinking and development of the city. Read more
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