19th April 2010

The Lion Awakes 

News at a Glance

今天的中国新闻

A compilation of Headlines + Brief Summary from Chinese & International Publications relating to China.

Just 5 Minutes each day to be up-to-date on the News of China

Combined with Kaixin’s boutique SITE SEARCH ENGINE, it is a unique source of knowledge about China"

China News Archive

From 2008

China Daily

 A selection of Weekly Photos from China Daily

China Daily

President Hu flies to Yushu to guide relief work

Latest: The death toll has climbed to 1,706 from a devastating earthquake in northwest China's Qinghai Province, with 256 people still missing, the rescue headquarters said Sunday.
As of 10 a.m. Sunday, the 7.1-magnitude quake, which struck the Tibetan Autonomous Prefecture of Yushu at 7:49 a.m. Wednesday, has also left 12,128 injured, of which 1,424 are in severe condition, the rescue headquarters said.
 
 
BEIJING - Chinese President Hu Jintao arrived in the quake-hit Yushu in northwest China's Qinghai Province Sunday morning to inspect relief work.

Hu's plane landed at Batang Yushu Airport at an altitude of nearly 4,000 meters after more than three hours' flight.

The president, who returned to Beijing on Saturday from a shortened visit to Latin America, headed for the worst-hit Gyegu Town in Yushu immediately after landing.

He visited Gyegu's Zhaxi Datong village to inspect disaster situation and visit quake-affected residents.

China's rural netizens surpass 100m

Internet users in China's rural areas reached 106.81 million by the end of 2009, an increase of 26.3 percent year-on-year, chinanews.com.cn reported Friday, citing a report released Thursday by the China Internet Network Information Center (CNNIC).

The report said 68 percent of rural residents use desktop computers to get access to the Internet. Cell phones are also becoming important devices for rural netizens to surf the Internet, with 71.89 million people doing it this way, up 79.3 percent from the previous year.

A total of 69.2 percent of Internet users in rural areas are under 30 years old, and those younger than 19 account for 41.1 percent.

According to the report, 44.6 percent of China' urban residents use the Internet by the end of 2009, while in rural areas the proportion was only 15 percent.

Police officers suspended in detention death probe

JINAN -- Two police officers in a detention center in Rushan City of east China's Shandong Province, have been suspended from work after an inmate in the center was found dead with "needle injuries," local authorities said Sunday.

China, Venezuela sign deals on oil, hydropower

CARACAS -- China and Venezuela signed a series of agreements on Saturday to help the latter develop its oil and electricity industries.

Under the agreements, the two countries will set up an oil exploiting and processing joint venture in Venezuela's Orinoco reserves belt.

China will provide technology transfer to Venezuela and help it build its own thermoelectric power plant to ease the oil-exporting country's recent energy crisis.

China will also provide soft loans worth US$20 billion to Venezuela's energy sector via the China Development Bank, according to the agreements.

Venezuela has become China's fifth biggest trading partner in Latin America. Bilateral trade reached US$7.15 billion last year, Chinese statistics show.

Real estate market cools down in Shanghai on government moves

SHANGHAI - The latest central government measures to cool the property market have caused many prospective buyers in China's business hub to adopt a wait-and-see attitude.

Although the measures announced late on Thursday evening were within the expectations of many analysts, they point to the deep concern of economic planners about public objections to escalating property prices.

"The government has sent a message to the market that it is serious about clamping down on excessive speculation," said Xue Jianxiong, a senior analyst at E-House China, a property agent.

Chief among those measures was the directive to require a minimum 50 percent down payment for mortgages on second homes, up from 40 percent. A minimum down payment of 30 percent is stipulated for first-time buyers of apartments larger than 90 square meters.

The Wall Street Journal – Asia Edition

Hu Visits Quake Zone as Aid Pours In

China's president vows to rebuild schools and homes on trip to devastated Tibetan region, as death toll tops 1,700

Rising Yuan Could Lift Commodities, Hit Treasurys

When China allowed the yuan to rise in 2005, it startled investors and sent waves through the financial markets.

This time around a revaluation is widely expected. So will a higher yuan turn out to be a big yawn?

Stronger Yuan: No Gift for U.S. Firms

Change in value would neither devastate Chinese manufacturers nor act as a savior for their American rivals

China Sold More Treasurys in February

WASHINGTON—China sold U.S. Treasurys for the fourth consecutive in February, though it remained the largest foreign holder of U.S. government debt, according to estimates issued Thursday by the Treasury Department.

China Gives Venezuela $20 Billion

CARACAS—China will provide $20 billion in fresh funding to Venezuela, the latest sign of the Asian giant's expanding economic and financial role in Latin America.

The New York Times

China is expected to announce that it will allow the renminbi or yuan, to appreciate against the dollar in the coming days. The currency’s value would fluctuate day to day and any increase in value could be gradual and limited. Even so, the move would be good news for the Obama administration, because an undervalued renminbi keeps China’s exports cheap and makes American exports more costly by comparison.

Will a somewhat more flexible exchange rate benefit the American economy significantly? What kind of effect will it have on the changing Chinese economy and other Asian economies?

· Eswar Prasad, economist, Cornell University
· Desmond Lachman, former I.M.F. economist
· Yasheng Huang, professor of political economy, M.I.T.
· Daniel H. Rosen, Rhodium Group
· Michael Pettis, Peking University

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