As the US economic slowdown claims more victims, industry data shows that large US cooperate bankruptcies have been accelerated in recent weeks.

The data compiled by Bankruptcy Data.com and reviewed by Reuters indicates that eight public companies with assets of over $1 billion have filed for bankruptcy protection in the last four-week period. It also suggests that it is the largest number of multibillion-dollar public company bankruptcies in Read more…

Popularity: 1% [?]

China, crisis, data, economy, recession, slowdown

Considering the influence of the global economic slowdown on the employment of college graduates, the municipal bureau of personnel declared yesterday that graduates with a Beijing Hukou or permanent residence permit will receive at least one job offer by suitable employers in the coming month.

Lu Lin, director of the bureau’s college graduate employment department, said job seeker can register at related departments in Beijing’s 18 districts and countries and then these departments will match Read more…

Popularity: 4% [?]

Beijing, China, economy, Grads, influence, job, offer, slowdown

Based on the latest data, China became the third-largest world in economy in 2007, treading on the heels of Japan and the United States.

China’s economy has boomed in the past 30 year. Data showed that China has been ahead of Germany. But overtaking the US is another matter. Read more…

Popularity: 2% [?]

China, crisis, economy, Japan, slowdown, U.S.

The stock market in economic slowdown could turn the hard-earned savings to ashes instantly which was exactly the experience of Wen Wu, a government employee of Loudi in Central China Hunan province.

Wen Hu now has lost nearly all of his 240,000 yuan savings in the stock market with only 7,000 yuan left in his account.

According to a recent survey from the official Shanghai Securities News and Stock Star, only 6% of the respondents Read more…

Popularity: 2% [?]

China, economy, market, recession, slowdown, stock

The battle about market share between US fast food chains Kentucky Fried Chicken and McDonald’s has been lasting for a very long time since they appeared in China.

Recently, both the companies announced the plans of expansion and cutting price to attract more customers.

Zhao Li, the company’s general manager, said at the ceremony marking the opening of the 200th KFC restaurant in Beijing that in spite of the economic recession, they will open another Read more…

Popularity: 19% [?]

China, crisis, economy, fast food, recession, slowdown

Sina Corp, China‘s largest portal website announced last month that it would make a deal with Focus Media, which is allowed to be one of China’s biggest advertising conglomerates.

The digital advertising business in the deal may be worth over $1.3 billion, with Sina acquiring Focus Media’s business in office buildings, elevators and supermarkets. The deal contributed 52% of Focus Media’s total Read more…

Popularity: 2% [?]

China, crisis, deal, economy, Sina, slowdown

A senior official form the National Development and Reform Commission (NDRC) warned less developed central and western parts of China are likely to suffer more than coastal regions in the unfolding global economic slowdown in the long term. Du Ying, NDRC’s vice-president said those regions are more vulnerable to global financial woes because of their immature industrial structures, sharply declining resource prices and a weaker capacity to deal with risks and social conflict.

Du made these remarks at a recent national Read more…

Popularity: 2% [?]

China, economy, global, hinterland, region, slowdown

In spite of the threat of global economic slowdown, Yiwu, China’s largest distribution center for small commodities is still booming.

He Meihua, city Major, said on 20th October, “Though Yiwu’s growth rate from January to September is a little lower year-on-year, it is still astonishing.”

Because of the government’s support polices and local enterprises’ efforts to enlarge their export destinations, Yiwu’s exports in the first three quarters increased by 28 percent to 404,400 containers year-on-year.

“Though the export growth has been slower a little, Yiwu has not lost its charm. Part of the enterprises and individual businessmen do confront the difficulties.” He added.

He said, “The local government, confident of facing any challenge, will pay attention to such enterprises Read more…

Popularity: 2% [?]

beauty, global, slowdown, Threat, Yiwu

Ericsson AB, the world’s biggest maker of wireless networks, may report its sharpest profit drop in more than there years. Considering the costs it planned to cut 4,000 and lower the demand for phones at the handset companies with Sony Corp.

According to the median estimate of 15 analysts, its net income in the second quarter fell 56 percent to 2.82 billion kronor ($472 million). Read more…

Popularity: 1% [?]

expect, giant, sales, slowdown, telecom

As the global economic slowdown and decreasing demand in main international markets, international trade in China is lessening gradually.

The country may bear more uncertainties in export and import business because of the worsening situation in the international market.

In the first eight months of the year, China’s exports increased to $937.7 billion by 22.4 percent and 3.3 percent less than last year. Imports were up to 785.7 billion by 30 percent, 10.4 percent than 2007.

Owing to the growth in exports decreasing while imports were increasing, the country’s trade surplus decreased to $152 billion, $10 billion less than the year 2007.

At the same time, China’s exports to U.S.A. just increased by 10.6 percent, Read more…

Popularity: 2% [?]

demand, economic, exporter, global, slowdown