Friday, November 05, 2004
A stride toward a market oriented interest rate regimeA stride toward a market oriented interest rate regime. When the interest rate rise by China's central bank draws most attention, another major reform included in the same package is also put under the spotlight. The ceiling of interest rates for loans in financial institutions, except urban and rural credit cooperatives, is removed. And the rates for deposits are allowed to float down. This marks a stride by China toward a market oriented interest rate regime. As we know, the mechanism of demand and supply of credit capital is usually distorted when the interest rate is strictly controled. This is especially true for the financing of small and ... [China Study Group's news feed] |
China struggles to quell football revolt. After a month of strikes, walk-outs and accusations of corruption, China's Communist authorities are struggling to quell one of the most open revolts against their leadership in more than a decade. A rebellion has broken out in the normally conservative world of football, as club chairmen, players, fans and journalists protest against inept government management and the "black whistles" of bribe-taking referees. Boardroom executives have called for an independent league free from government control, two top teams have stormed off pitches before the end of games and supporters have voted ... [China Study Group's news feed] |
Hong Kong pollution is 'damaging economy'Hong Kong pollution is 'damaging economy'. Worsening air pollution across China's Pearl River delta will further damage human health and ultimately threaten the region's economic growth unless there is aggressive remedial action, according to three reports to be published on Thursday by Civic Exchange, a Hong Kong think-tank. In recent months smog has increasingly shrouded the industrialised delta, which is bad for tourism and people with respiratory problems. The autonomous territory of Hong Kong and the Guangdong provincial government - which coyly refer to the smog as "haze" - agreed two years ago to try and cut air pollutants ... [China Study Group's news feed] |
China cooks up a rice storm. KUALA LUMPUR - The International Year of Rice is coming to an end, but the debate over GM (genetically modified) rice will continue for some time as it gains momentum worldwide with GM rice's introduction for commercial planting in China expected to take place as early as next year. Currently, China, India and the Philippines are holding field trials after investing a lot of resources in genetically engineered rice. According to a Reuters report, Chinese agricultural scientists have said China - the world's top producer and consumer of rice - could release GM rice by next year, with pressur ... [China Study Group's news feed] |
