China Briefing News

Has China’s economic development hit a glass ceiling?

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Commentary: Lack of stock market transparency, the one-party state and why Chinese companies are struggling overseas By Chris Devonshire-Ellis On the face of it, much in China over the past 20 years has appeared to be a pretty incredible success story. Other developing nations, from India to South America, Africa and elsewhere in Asia have all […]

China’s booming economy rises 11.9%

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China’s economy expanded 11.9 percent in the second quarter according to figures released by the National Bureau of Statistics yesterday. The gross domestic product hit RMB10.68 trillion (US$1.39 trillion) in the first six months of the year, growing 0.5 percentage points higher than a year ago. China Daily reported that the “blistering” GDP is growing […]

Beijing airport to open third runway in October

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Beijing Capital International Airport is set to expand its take-off and landing capacity by 50 percent in October when it begins trial operations of its third runway. The RMB200 million runway will raise capacity at the airport from 30 to 90 flights per day according to the General Administration of Civil Aviation of China (CAAC). The […]

Housing fund contributions change for Beijing, Shanghai and Guangzhou

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Provincial tax authorities recently announced an amendment to the regulations that govern tax free contributions to basic pension funds, basic medical insurance, unemployment and housing funds (Cai Shui (2006) Circular 10). Effective July 1, 2007, provincial supervision bureaus have put in place new regulations on housing fund contributions for Beijing, Shanghai and Guangzhou. When it was issued […]

AirAsia launches cheap flights to Shenzhen

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AirAsia launched its Shenzhen service today with nonstop flights from Kuala Lumpur and Bangkok, the first routes into mainland China for the Malaysia-based budget airline founded in 1993. Group Chief Executive Officer Dato’ Tony Fernandes Berhad of AirAsia said, “We have continued to create history by introducing flights to untapped markets as we have always […]

China to stop using corn for biofuel in five years

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In an effort to develop biofuel alternatives without harming the general food supply, China is shifting its dependence on corn as the main raw material to sorghum, cassava and sweet potato plants in the next five years. Cassava and sweet potato are both high-yield plants, and while edible, are not a stable food like corn and won’t create […]

Doors close on Starbucks’ controversial Forbidden City outlet

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There will be no more Frappaccinos or lattés in the Forbidden City as Starbucks closed down its controversial outlet situated inside the former imperial palace on Friday. The closure brought an end to a seven-year presence that sparked controversy and protests that the image and cultural heritage of the historical site was being trampled on by the […]

New rules for foreigners buying property in Shenzhen come into effect

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Foreigners are now limited to buying one home for personal use in Shenzhen. The rule, which came into effect Wednesday, states that all non-mainlanders, including overseas nationals, Chinese citizens resident overseas and residents of Hong Kong, Macau and Taiwan, will be allowed to buy property only if they sign a guarantee that the house is […]

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