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 Wednesday, November 03, 2004

Rate rise signals move to market policy: banker. Last week's surprise interest rate rise is a sign of the mainland's move towards market-based policy measures to cool the economy, according to a senior central bank official. Hinting at the need for further measures to rein in the economy, People's Bank of China vice-governor Wu Xiaoling parried questions yesterday on whether there would be further domestic interest rate increases in the near term and the implication for the mainland's rigid exchange rate regime. The central bank raised its benchmark one-year lending and deposit rates by 27 basis points on Thursday. "The key to this ... [China Study Group's news feed]

7:29:09 PM     China Study Group's news feed




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From Mao to Microsoft: an American's Chinese Odyssey. BEIJING — When it comes to China, Sidney Rittenberg simply can't resist a revolution. In the 1940s, it was the Communists who had the best thing going. So he became the first U.S. citizen admitted to the Chinese Communist Party and served in the regime's propaganda machine to promote the cause. Today, it's the capitalists' turn, and the 83-year-old former cadre is a six-figure business consultant, helping the likes of Levi Strauss & Co. and Intel Corp. tap into a consumer revolution that Mao Tse-tung never would have imagined. "This is the first Chinese regime in history, since Confuc ... [China Study Group's news feed]

7:03:43 PM     China Study Group's news feed