CNY

China Bans Foreign Vessels from Waterways

Bloomberg reports China is banning foreign vessels from sailing on its domestic waterways, which are among the busiest in the world. Amid the economic slowdown, the shipping industry was hit by a contraction in trade:Overseas investors will also be barred from engaging in river shipping, including t...

China Web Users Push Out Official

Chinese netizens expressed outrage when it was exposed that Cai Bin, a local official in Guangzhou, and his family owned more than 20 homes. Cai has now been detained and is under investigation. From the Wall Street Journal: Cai Bin, who formerly ran the city’s urban management bureau in the d...

China to protect inland shipping

China is to prohibit domestic companies from operating foreign-made ships on domestic waterways and will block foreign shipping service firms from selling services in China, according to regulations issued by China’s State Council. The rules protect the domestic shipping indu...

Industrial Production Slows in China, Inflation Rises

An industrial area as seen from the Western Mountains on Sept. 13, 2012 in Beijing, China. In September, China’s CPI increased 1.9 percent over last year. (Lintao Zhang/Getty Images) China’s stagflation, that is, high inflation and low growth, may create social turmoil if it drags on, accordin...

CDT Money: Time to Call the Bottom?

A breeze of cautious optimism wafted into the Chinese economy this week despite a seventh consecutive quarter of slowing GDP growth, as better-than-expected September data signaled that the world’s second largest economy may have begun to stabilize heading into next month’s 18th Party Co...

Mo Yan Wants to Buy a House in Beijing. Can He?

When asked by a Xinhua journalist what he would do with his prize money of RMB7.5 mil, Nobel winner Mo Yan replied:I’m getting ready to buy a house in Beijing, a big house. But then I’ve been warned I won’t be able to get anything that big. A house is more than RMB50,000 per square meter. RMB ...

China’s Local Leisure Industry Continues to Grow

In a recently released report compiled by the National Academy of Economic Strategy under the Chinese Academy of Social Sciences, it was noted that leisure consumption accounted for more than 6 percent of China's gross domestic product, and over 15 percent of China's total retail sales of social con...

China’s Money Supply Sees Dramatic Increase

Beijing's Central Business District made from Chinese yuan notes, in 2007. Economists say that the excessive printing of money in China has led to inflation, which the regime attempts to conceal. (Teh Eng Koon/AFP/Getty Images)  A measure for Chinese money supply surpassed 94.37 trillion yuan...