According to a survey from Paris, under the pressure of world economic crisis, many French  families had to pay special attention to their budget in planning their summer holidays, previous luxurious plans like spending the holiday on the beach would, perhaps, be crossed out.

Given the survey by Opinion Way polling firm, only 62% of the French had holiday plans, compared with 73% the year before. Furthermore, 21% of the Read more…

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budget, China, economy, holiday, Paris, survey

The ministry of Education promised to punish the officials in schools who get their children in college by using other students’ ID.

Wang Zhengrong has been arrested for his action of make up official documents to get the ID of Luo Caixia illegally .He also got the admission letter from Guizhou normal University which belongs to Luo Caixia. His daughter entered the university with this stolen letter in 2004 and graduated with the teaching certificate which was taken away when Wang Zhengrong was seized. In this crime, Read more…

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action, China, economy, education, ID, official

After the Chinese government blocked Coca-Cola’s $2.4 billion bid for China Huiyuan Juice  Group Ltd, Huiyuan’s share price had a sheer drop in Hong Kong on March 19, 2009.

Huiyuan’s shares dropped by HK$3.49 per share, or 42.05%, to close at HK$4.80 apiece. In early trading, the company’s shares dropped 53% at one point to the day’s lowest level of $3.88. After having been suspended since March 11, 2009, the stock continued trading on March 19, 2009.

The recent price fall was in a sharp contrast to its performance in the past several months after the announcement of the Coca-Cola bid. Huiyuan’s shared price had doubled since September in 2008 after the beverage giant of America offered a deal of HK$ 12.2 in cash for each of Huiyuan’s listed Read more…

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bid, China, economy, failure, Huiyuan, price, share

HSBC Holdings said on March 2, 2009 that it would raise a total of $17.7 billion in new capital from shareholders in a rights issue to strengthen its financial structure after reporting a more than 50% fall in 2008 earnings and, as expected, a surge in bad debts in the US.

The largest bank in Europe is in the process of offering 5.1 billion new shares at 254 pence apiece, or a 48% discount on Friday’s closing price, for subscription by its current shareholders. In Hong Kong, the issue price per new share is HK$28, or a 50.2% discount on its Friday close of HK$56.95.

Stephen Green, the Group Chairman, disagreed that the rights issue had appeared too late. He said it was the right time when they got the information about their performance in 2008.

Douglas Flint, the HSBC finance director, Read more…

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bank, capital, China, crisis, economy, HSBC, structure, U.S.

Situated in the northern part of Jiangsu Province, China and under the jurisdiction of the  prefecture-level city of Suqian, Siyang County is an old city with a civilized history of 5,000 years and a county history of 2,000 years. It was once the capital of Sishui State during the Western Han Dynasty (206BC-AD24). Yanghe Daqu, one of the eight famous Chinese liquors, originated from here. It is also the only “County of the poplar tree”. The Jinghang Canal and the ancient Yellow River cross Read more…

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bid, China, county, economy, Jiangsu, notice

As a senior railway official said on March 24, 2009,  the two high-speed railways that opened on April 1 amazingly shortened the travel time between the hinterland and the coastal areas.

The Hefei-Wuhan passenger railway and the Hefei-Nanjing lines, which opened last year offered the shortest link between Central China and Yangtze River Delta region of East China. Both of them last over 350km. Read more…

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China, economy, official, passenger, rails, travel

The meeting of the finance ministers and central bank chiefs of G20 countries in March drew great attention. That’s because of the great influence of the global financial crisis.

The most important thing discussed at the meeting was how to deal with the financial crisis, rebuild the present financial system and reform the international financial organs. Read more…

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China, crisis, economy, G20, IMF, influence, reform

China and Russia may join together to build a $4-billion oil refinery in the north of Tianjin municipality to meet the growing domestic demand, according to the local government.

The project, which will be located in Binhai Industrial Zone of Tianjin, is developed by China National Petroleum Corp (CNPC) and Russia’s OAO Roseneft. It is capable of processing 10 million tons of crude oil every year. Read more…

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China, economy, government, oil, refinery, Russia, Tianjin

Yang Chao, Chairman of China Life Insurance Co Ltd, said yesterday that the company plans to have a try at the property market to diversify its investment lay out. He said China Life would seek to invest in infrastructure, equity, fixed-income securities and the property market.

According to Yang, China Insurance Regulatory Commission is expected to permit insurers to invest in infrastructure and real estate soon and is drawing up guidelines concerning it. China Life is waiting for the inaction of these regulations and making preparations for their Read more…

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China, economy, industry, insurer, investment, market, risk

Suning is going to expand its rural market by taking advantage of the government’s rebate  programme for household electric appliances. Suning is currently the second largest electrical appliances retailer, immediately after Gome. And through this effort, it is making an attempt to beat Gome in this war.

The company will open no less than 1000 shops, of which a small amount will belong to Suning, while the rest will belong to those who invested in Suning’s brand shops. These newly opened stores are to meet the rural residents’ needs by occupying smaller areas Read more…

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China, economy, government, household, market, programme, Suning