Other Briefings
World Bank Raises China’s Growth Forecast to 7.2 Percent
Jun. 18 – In its China Quarterly Update, the World Bank changed its economic growth forecast for China from 6.5 percent to 7.2 percent on account of its stimulus package fueling an investment boom. While China’s economy has continued to feel the brunt of the global crisis, very expansionary fiscal and monetary policies have kept […]
New “Buy Chinese” Policy Risks Tension, Protectionism
Jun. 17 – Beijing has introduced a new “Buy Chinese” policy that could agitate foreign trade relations and encourage protectionism. The new policy outlines that only Chinese products and services may be used for government procurement except when certain products or services are not available within the country or could not be bought on reasonable […]
First Bioenergy Research Center Opens in Nanning
Jun. 16 – The country’s first bioenergy research center was launched last Sunday in the Guangxi Zhuang autonomous region’s capital city of Nanning as part of Beijing’s new energy development plans. The research center aims to find ways to effectively use cassava, sugar cane and sweet sorghum for new energy development; commodities that are abundant […]
U.S. Company Claims China’s Web Blocking Software Contains Pirated Code
Jun. 15 – U.S. company, Solid Oak Software of Santa Barbara, is claiming that parts of China’s state sanctioned web blocking software called “Green Dam-Youth Escort” in English have been pirated from the company’s own filtering software. Early this month, it was reported that Beijing would require that all personal computers sold in the country […]
Exports Drop Further, Stimulus Spending Fuels Economy
Jun. 13 – China’s exports for May plunged lower by 26.4 percent compared to last year; decreasing trade surplus to US$13.39 billion. The May figures maintain the trend of slowing activity, with April exports also declining by 22.6 percent. The figures show that now more than ever, China’s economy is fueled by growth funded by […]
China Industry: Jun. 11
Jun. 11 – This is a regular series of relevant industry news from around China. Solar power Shi Lishan, vice director of the National Energy Administration’s Renewable Energy Department, said that the country will implement a tariff of RMB1.09 per kWh for solar power in a bid to make this type of renewable energy more […]
Beijing Eases Foreign Investment Rules for Chinese Companies
Jun. 11 – Beginning August 1, Chinese companies can now use their foreign exchange funds or buy from the state reserve to fund overseas ventures; easing rules for overseas investments. According to the State Administration of Foreign Exchange (SAFE), previously only large multinational companies were allowed to use their forex funds to lend to overseas […]
Yahoo to Open Global R&D Center in Beijing
BEIJING, Jun. 10 – American internet giant Yahoo has announced that it will open a global research and development center (R&D) in Beijing focusing on research on search, advertising, cloud computing, and other personal internet tools and technologies. The center will be the third of the company’s global R&D networks with the other two located […]
