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Paul Gillis of PricewaterhouseCoopers looks at recent changes to the tax bureaux and implications for foreign enterprises in China.

Demand for executive search has shrunk, say headhunters, while the number of managers looking for jobs has multiplied.

Black market goods and nuclear technology are among the few bright spots in Sino-Russian trade, but better transport links in the border regions offer some brighter hopes for the future.

Private clubs are proliferating, offering a luxurious retreat to those who can afford membership in these straitened times.

Seymour-Cooke says the rapid growth of foreign food retailers in Shanghai is contributing to a shake-out in the industry, with the potential for tough times ahead should market conditions worsen.