The petrochemical industry’s practice of subsidizing oil refining businesses with earnings from chemical businesses has been severely tested. Marketization is the industry’s only way out. Lingering smog hovering over North China, especially Beijing, over the winter and spring triggered a wave of public discontent. Environmental protection authorities believe automobile exhaust to be a primary cause of the smog, saying that low-quality gasoline and diesel are used to fuel cars in [...]

Summary: China has been rapidly expanding its presence in Latin America, which has made many in the U.S. nervous. The “realism” that ran through America’s foreign policy during the Cold War has gradually transformed towards “idealism,” which in consequence weakens its influence in Latin America. But China’s involvement in Latin America brings benefits to the U.S., not a threat. China is busy in America’s backyard. Over the past five years, [...]

Short selling by international investors is another sign that there are risks building up in China’s economy Due to the negative outlook on China’s economy held by some international rating agencies, international investors such as JP Morgan Chase & Co and Citigroup recently launched a new round of short selling Chinese shares, causing the Shanghai Composite Index to drop to 2177.91 points on April 26 and fluctuate around 2220 points [...]

Groups give new impetus and direction for people-to-people exchanges in Africa with their community outreach programs, report Meng Jing and Sun Yuanqing. At almost the same time that President Xi Jinping announced during his recent visit to Africa that China will extend a $20 billion credit line to the continent over the next two years, Zhang Ming, a director of the Red Cross Society of China, was busy raising funds [...]

Authorities are trying to untangle the interbank bond market by rounding up rogue traders and cleaning up regulations It was a typical workday morning at Wanjia Asset Management Co. in Shanghai’s downtown financial district, but the firm’s star bond trader Zou Yu was not at his desk. Zou, 31, had mysteriously failed to report for his job as head of Wanjia’s fixed-income department. And his whereabouts remained unknown until five [...]

China Tuesday released its white paper The Diversified Employment of China’s Armed Forces, revealing the 18 combined corps of the People’s Liberation Army and the number of PLA mobile operational units, navy and air force servicemen. A large part of this year’s white paper was devoted to maritime issues. “China is a major maritime as well as land country. The seas and oceans provide immense space and abundant resources for [...]

Although economic figures for March indicated a more stable economy in China, overcapacity continues to trouble the country’s industries. China’s purchasing managers’ index (PMI) for the manufacturing sector rose to 50.9 percent in March, representing positive growth, according to data released by the Federation of Logistics and Purchasing (CFLP) on Monday. However, the sub-index for finished product inventories went over 50 after declining for eight consecutive months, indicating a worsening [...]

Shareholders are looking for justice, after the assets of a firm they invested in were swallowed up in a controversial land deal. Hainan Minyuan Modern Agriculture Development, a State-owned enterprise under Beijing municipal government, was found to be involved with financial fraud and under-the-table deals that have led to losses for the shareholders and the possible loss of substantial State assets. “This is the largest scandal since the establishment of [...]

As the ruling ideology of China’s new leadership, the Chinese dream has drawn worldwide attention. However, following this heightened attention have come a raft of interpretations and appeals, some of which are misconceptions. Misconception one: Chinese dream is equal to China’s dream. President Xi Jinping has elaborated the Chinese dream, stressing its essence is the trinity of the fulfillment of Chinese people, the revival of the Chinese nation and the [...]

A court ruling against vitamin makers has exposed the anti-trust activities of government-backed trade groups Internet cafes covered by the city of Wuhan’s Internet Café Association agreed to set minimum prices for online access nearly a decade ago. And more than 100 coking coal company-members of the Coke Association of Shanxi Province each agreed in 2005 to cut production up to 40 percent. These are two examples of the market [...]