China's Modern Economy 中国现代经济 meets TuTh 11:45-1:15 Huntley 230
In an effort to raise awareness of the environmental challenges faced by his nation, President Xi Jinping and several members of the CPC Political Bureau Standing Committee visited the Chaoyong district of Beijing to partake in a publicity generating planting of six sapling trees. Accompanied by primary school students, Xi was photographed digging into the… Continue reading President Xi Jinping Raises Ecological Awareness in China
China’s energy policy significantly influences the global environment and economy. China’s National Committee hosted China Energy 2020, a forum that explored how China can reach its economic, environmental, and energy goals while reconciling the fact that it is the world’s biggest energy consumer and generator of greenhouse gas emissions. The State Council on Saturday, April… Continue reading China Plans to Standardize Energy Conservation by 2020
Chinese officials revealed a plan to develop urban “city clusters” along the middle reaches of the Yangtze River today. The objective of the plan is to “create a new economic growth engine and promote new urbanization” in a time where China has seen declining growth rates and unprecedented but unsustainable rural to urban migration. The… Continue reading China Implements Plan to Develop the Yangtze River Economic Belt
The Basic Law “provides the legal basis to all public policies and practices in the Special Administrative Region” of Hong Kong. The law was adopted on April 4th, 1990, and came into effect when China regained sovereignty over Hong Kong from Great Britain on July 1, 1997. Hong Kong officials held a seminar in celebration… Continue reading Hong Kong Celebrates 25th Anniversary of Basic Law
Zhou Yongkang, the former Chinese security czar, has been charged with bribery, abuse of power, and intentionally leaking state secrets. While bribery and abuse of power are typical charges in cases dealing with corrupt Chinese officials, the charge of intentionally leaking state secrets is very rare and the consequences highly severe. The ambiguous state… Continue reading China’s Ex-Security Chief Charged with Corruption
A Chinese blogger has spurred a nationwide anti-corruption and anti-extravagance campaign after compiling and publishing photos of government officials wearing expensive watches that they could not reasonably afford. China’s new railway minister, Sheng Guangzu, was photographed wearing watches worth a combined 400,000 yuan ($64,544). The average salary for a government minister is roughly 65,000 yuan… Continue reading Luxury Goods Manufacturers Crippled by Anti-Extravagance Campaign in China
Food safety has long been a problem in China, due in large part to the sale and resale of used cooking oil within the restaurant industry. The black market trade of this so called “gutter oil” now faces competition from an internationally renowned corporation, The Boeing Company. On March 21 of this year, a Hainan… Continue reading Gutter Oil Trade Takes Flight in China
China reported a capital outflow of $118 billion at the end of 2014. The flow of cash out of the country is problematic because it lowers liquidity: the amount of money that is readily available for domestic lending and borrowing purposes. China appears dangerously close to falling into a liquidity trap: a state where cash… Continue reading China Draws Nearer to Liquidity Trap
Taxi drivers in ten Chinese cities have gone on strike to protest the arrival of ridesharing services such as Uber, the San Francisco based company valued at $40 billion, in the country. Traditional drivers claim the high franchise fees imposed by the state-run taxi industry inhibit their ability to compete with the cab-hailing services that… Continue reading Uber, Other Private Car-hailing Services Disrupt China’s Traditional Taxi Industry