China's Modern Economy 中国现代经济 meets TuTh 11:45-1:15 Huntley 230
Due to the recent defaults of several Chinese companies and growing concern over growing credit risk, the Chinese banking regulator will be conducting stress tests on the Chinese banking system. The China Banking Regulatory Commission sent regional and national banks guidelines and notified them that the stress tests will be done in a timely manner. According… Continue reading China to Conduct Bank Stress Tests
Officials hope that within six years the currently undeveloped land in Qianhai, a special economic zone in the southern Chinese city of Shenzhen near the Hong Kong border, will house an international finance district rivaling Wall Street. Qianhai is one of 10 such special zones where the Chinese government plans to try out new and less… Continue reading China’s Own Wall Street
As we’ve touched on in class, China’s population is rapidly aging. China’s working age population–those between 16 and 59–suffered a 2.4 million drop to 920 million in 2013 and the “elderly” population, those over 65, increased from 9.4% in 2012 to 9.7% in 2013. In order to counteract this drastic decrease in the labor-force, there are… Continue reading China Raising Retirement Age?
Even with the cool down of China’s economy over the last few months, officials at Samsonite anticipate a growth in sales of over 10 percent this year, up from 5 percent the year before. Mr. Ramesh Tainwala, chief operating officer at Samsonite, recently stated that despite the uncertainties caused by China’s shift away from heavy… Continue reading Chinese Consumerism Growing
Last summer, the Chinese government lifted restrictions on lending rates and its recently announced planned removal of the bank deposit rate ceiling, which is seen as the last and most significant government restriction on interest rates, is the last obstacle the country must overcome until interest rates are completely liberalized. Both of these actions are… Continue reading China Modernizing Its Financial System
The Chinese renminbi fell to its lowest level in almost a year on Friday. China’s central bank has been engineering this decrease in value since the new year in an effort to deter and punish speculation and to stop so called “hot-money”, or huge capital flows from entering the country. Analysts estimate around $150 billion in… Continue reading Renminbi Value in Decline
In a report published Wednesday, Li Wei, the director of the State Council’s Development Research Center, addresses China’s growing dependence on coal and oil. According to the report, China will consume 800 million tons of oil a year by 2030, a 60 percent increase from 2013. Of that 800 million tons, China will import about… Continue reading China’s Growing Energy Dependence
The Lunar New Year is a major holiday in China. It is a week long event where tens of millions of people head home to celebrate with their families or vacation abroad in places such as Hong Kong, Seoul and Singapore. This year, however, heavy snowfall in central and eastern China has resulted in numerous… Continue reading Inclement Weather Causes Major Delays During Lunar New Year
In the latest Program for International Student Assessment (PISA) test in 2012, an exam administered by the OECD every 3 years to over 500,000 15- and 16-year olds from 65 countries around the world, Shanghai’s students scored highest in critical reading, math and science for the second time in a row. As a result, Shanghai… Continue reading Education in Shanghai
China became the world’s largest trader in 2013, surpassing the United States and setting record high trade statistics with imports and exports equaling $4.16 trillion, a 7.6 percent increase from the year before . What may come as a surprise to many, however, is China’s shifting focus from exports to domestic consumption. The Chinese government… Continue reading China Shifting Focus from Exports to Consumption