A currency and banking workgroup of US and Chinese officials will hold its first meeting in Beijing to discuss the valuation of the Chinese yuan. The workgroup is the result of talks between Presidents Bush and Hu Jintao in fall 2003. The six-member US delegation will be led by Assistant Treasury Secretary David Loevinger and […]
Category: Politics & Society
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Beijing mayor enters office
Wang Qishan became Beijing's newest mayor, promising to address the capital's traffic problems before the 2008 Olympics. Wang replaces former mayor Meng Xuenong, who was removed from his post during the SARS crisis in Beijing last year. Wang is a former president of China Construction Bank.
China announced that it plans to send two astronauts into space in 2005 on a mission that may last as long as a week. Officials at China's space program said that preparations on the mission's aircraft, Shenzhou VI, are under way and proceeding smoothly. The officials added that later Shenzhou missions will involve spacewalks and […]
China will earmark a record US$18 billion in 2004 for its annual allocation of government funds to support rural development. Officials at the Central Financial Work Leading Group said the amount was US$3.6 billion more than that reserved for rural areas in 2003. The money will primarily be used to fund rural tax reforms, improve […]
President Hu Jintao's France-Africa tour stopped in Algeria, where he was present for the signing of a framework energy agreement and several accords regarding research and educational exchanges and economic and technical cooperation. The agreements benefit both sides as China scrambles to find energy to sustain its economic boom and Algeria seeks to fuel economic […]