China Economic ReviewMore than eight million pirated CDs and DVDs have been seized as part of a 100-day crackdown on illegal movies and computer software, state media reported Thursday. Since the campaign began on July 25, more than 89,000 shops and street vendors have been raided, leading to the closure of 3,000 outlets while punishments have been […]
Officials in Inner Mongolia were cautioned by the State Council for building an unauthorized power plant, state media reported. The reprimand, together with the suggestion that other local governments "learn a lesson from the incident", suggests that Beijing is ready to get tough in its bid to bring the overheating economy under control. Ten officials […]
China's State-owned Assets Supervision and Administration Commission (SASAC) is taking a careful approach to a new stock option incentive scheme for top management at 166 state-owned enterprises. Stock options could be a "double-edged sword especially in an immature market economy," said Li Rongrong, a SASAC minister. State media said the scheme would include conditions that […]
The chairman of Shanghai Electric Group, Wang Chengming, has joined directors Han Guozhang and Zhang Rongkun as the focus of an investigation into an ever-widening corruption scandal at the firm. A city government spokesperson confirmed that Wang's behavior was being scrutinized by the Communist Party's Central Disciplinary Committee over a "serious violation of party discipline", […]
The State Council will consider a draft proposal to establish a financial "super-agency" to co-ordinate policy formation and oversight among the country's financial regulatory departments, the South China Morning Post reported. An inter-agency group comprising senior officials from the People's Bank of China, the Ministry of Finance, the National Development and Reform Commission and the […]