China portrayed its resistance to yuan devaluation as beneficial for its trading partners in an effort to win regional support against US calls for an appreciation of the Chinese currency, reported the Financial Times. China's profits from exports were shared by other countries in the region, with 55 per cent of Chinese exports being processed […]
Category: Politics & Society
Some Yn40bn is to be spent on providing basic living assistance to 20m rural residents who are disabled or too ill to work, reported South China Morning Post. The Ministry of Civil Affairs said the monthly stipend paid to each person would be decided by local governments and could vary from about Yn60 in Guangdong […]
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Liberia recognises Beijing
The west African state of Liberia has switched diplomatic recognition from Taipei to Beijing. Taiwan accused the mainland of using a 'carrot and stick' approach to force Liberia to make the switch – the carrot being aid offers and the stick being a threat to interfere with the budget of the United Nations' peacekeeping force […]
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Art for the office
Major galleries in China are working with companies to advise them on art purchases and picture placement. Until recently most corporate collections in China consisted of a few tasteful pieces of traditional Chinese art or antiques kept in the director's office. This reflected the highly conservative tastes of the business community, and modern art was […]
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Hu promises
During a state visit to New Zealand, President Hu Jintao said that China would open further to foreign investment, improve economic laws and regulations and intensify efforts to protect intellectual property rights. The president made these remarks while meeting representatives of New Zealand business people in Auckland.