Other Briefings
Kathleen’s 5 Candlelight Memorial Raises Money for AIDS Awareness
SHANGHAI, May 19 – Kathleen’s 5 filled on Saturday night for the restaurant’s third annual charity gala for the International AIDS Candlelight Light Memorial. With the unfolding tragedy in Sichuan at the front of everyone’s mind, the evening was not only a time for people to remember and give to the worldwide victims of the […]
China Begins Three-Day National Mourning Period
May 19 – China began a three-day national mourning period today with flags at half-mast and all cultural and entertainment activities suspended. Authorities have also decided to momentarily halt the relay of the Olympic torch to honor the dead. The mourning period affects all cinemas, performance halls, dance halls, karaoke bars, amusement parks, online gaming […]
Australian Mining Group Protests over China Boycott
May 16 –The Australian mining group, Rio Tinto, is protesting over what it calls aggressive negotiating tactics after China Iron & Steel Association (CISA) asked its members to boycott the company’s spot sales of iron ore. In a statement made on its web site, CISA said: “We appeal to domestic mills and traders not to […]
China To Consider Increasing Windfall Tax on Oil Gains
May 16 – The government is looking into increasing the threshold for windfall tax levy on gains from crude oil, according to sources. “The government said the levy would be reconsidered when oil is above US$80 a barrel,” PetroChina Chairman Jiang Jiemin was quoted by Shanghai Daily as saying during the company’s annual general meeting […]
China Life Insurance Quake Claims May Reach US$19 Million
May 15 – China’s largest life insurer, China Life Insurance Company, says that total compensation payments for those affected by the quake could reach RMB134 million (US$19.14 million). So far, the company has received 150 claims -26 death claims and 97 casualty claims. Unlike competitor, Ping An, which serves more urban clients, China Life reach […]
Foreign Bank to Issue First China Debit Card
May 15 – Hong Kong’s fifth-biggest lender, Bank of East Asia, is set to become the first foreign bank approved by Chinese regulators to offer debit card services in the country by next week. “We will target both our existing customers and new clients (in China) for the local currency yuan-denominated debit card issuance, which […]
Survey: Cost of Living in Eight Chinese Cities
May 14 – A research team at Dezan Shira & Associates recently concluded a survey of the cost of living and doing business in the eight mainland Chinese cities where the firm has offices located: Beijing, Dalian, Shanghai, Hangzhou, Ningbo, Guangzhou, Zhongshan and Shenzhen. They used the following as price indicators set in minimum and […]
China Retail Sales Gain 22 Percent; Strongest Since 1999
May 13 – The country’s retail sales of local consumer goods increased by 22 percent to RMB814.2 billion (US$116 billion) for April; the strongest gains since 1999, according to sources. The National Bureau of Statistics reports that for the first four months of the year, China’s retail sales of consumer goods reached RMB3.37 trillion. The […]
