The South China Morning Post leads its China coverage with the return of former Chinese president Jiang Zemin. Seemingly content toexert influence from behind the scenes since his officialretirement in 2004, Jiang chose as his vehicle for re-entry topublic life a 16-page academic paper on national energy strategy.In his presentation to the executive arm of China"s newlyformed Energy Commission, Jiang argues that China needs to makeenergy conservation the country"s top priority. Jiang'sreappearance is a not-so-subtle reminder to the clique surroundingcurrent president Hu Jintao, which is facing mounting pressure overTibet, that even in China there are choices at the top of theleadership chain. All the papers cover the 5.5% fall Wednesday in the benchmarkShanghai Composite Index to 3,413.907 points. The largestsingle-day drop in over two months eroded most of the gains from afour-day rally that kicked off after the market bottomed out at an11-month low last week.
The China Perspective covered this story yesterday via the China Daily . The Financial Times reports that the slump came as investors sold equities to free upcapital ahead of the initial public offering of Zijin Mining Groupscheduled for next week. The Wall Street Journal wonders where the bottom lies . The Journal also expanded on Wednesday"s news that auto sales were up 21% year-on-year in China during the firstquarter of 2008.
According to the Journal , the sales boost in China was warmly received by global automakersfacing a slowdown in the US in the wake of the ongoing creditcrisis. Honda"s 29% gain in China sales for the quarteroffset its 0.4% decline in sales in the US. In March alone, itssales grew 79% from a year earlier in China and slipped 3.2% in theUS. Ford sold 54% more passenger vehicles over the quarter as itstotal vehicle sales grew 47%, a record for the company. Outdoor Led Flood Lights
Volkswagensold 103,200 vehicles in March, breaking the 100,000 sales for asingle month barrier for the first time. BMW's sales increased43.2% but General Motors lagged the market, selling just 6.8% morevehicles in the quarter. The International Herald Tribune carried a Reuters feature on the risk of food shortages in China due to a loss of arableland associated with rapid urbanization. China, which has 20% ofthe world's population but only 7% of its farmland, is also facingincreasing pressure on its food supply due to the growingconsumption of meat and dairy products as diets improve.Fr辿d辿ric Hervouet, the head of commodity investorderivatives at BNP Paribas, said China has lost about 1% of itsagricultural land every year for the past eight years. China LED Tube Lights T8
Li Guoxiang,a researcher with the Rural Development Institute at the ChineseAcademy of Social Sciences, said the government needed to increaseagricultural subsidies to encourage farmers to continue plantingcrops. Direct subsidies accounted only for about 5% of farmers'income in China, well below the 60% in some developed countries,such as the United States or Japan. The IHT also reports on Sotheby's Hong Kong auction of Chinese contemporary art. Despite fears the globaleconomic slowdown would weaken auction prices, the hammer went downon nearly US$18 million worth of works on Wednesday afternoonalone. Today"s Papers covers key China business stories carried bymajor international and Chinese dailies, sourced from their webeditions. LED Tube Lamps Manufacturer
Other news and breaking stories are carried on The China Perspective 's homepage or in the Daily Briefs section. Comments: Login to post comments.
The China Perspective covered this story yesterday via the China Daily . The Financial Times reports that the slump came as investors sold equities to free upcapital ahead of the initial public offering of Zijin Mining Groupscheduled for next week. The Wall Street Journal wonders where the bottom lies . The Journal also expanded on Wednesday"s news that auto sales were up 21% year-on-year in China during the firstquarter of 2008.
According to the Journal , the sales boost in China was warmly received by global automakersfacing a slowdown in the US in the wake of the ongoing creditcrisis. Honda"s 29% gain in China sales for the quarteroffset its 0.4% decline in sales in the US. In March alone, itssales grew 79% from a year earlier in China and slipped 3.2% in theUS. Ford sold 54% more passenger vehicles over the quarter as itstotal vehicle sales grew 47%, a record for the company. Outdoor Led Flood Lights
Volkswagensold 103,200 vehicles in March, breaking the 100,000 sales for asingle month barrier for the first time. BMW's sales increased43.2% but General Motors lagged the market, selling just 6.8% morevehicles in the quarter. The International Herald Tribune carried a Reuters feature on the risk of food shortages in China due to a loss of arableland associated with rapid urbanization. China, which has 20% ofthe world's population but only 7% of its farmland, is also facingincreasing pressure on its food supply due to the growingconsumption of meat and dairy products as diets improve.Fr辿d辿ric Hervouet, the head of commodity investorderivatives at BNP Paribas, said China has lost about 1% of itsagricultural land every year for the past eight years. China LED Tube Lights T8
Li Guoxiang,a researcher with the Rural Development Institute at the ChineseAcademy of Social Sciences, said the government needed to increaseagricultural subsidies to encourage farmers to continue plantingcrops. Direct subsidies accounted only for about 5% of farmers'income in China, well below the 60% in some developed countries,such as the United States or Japan. The IHT also reports on Sotheby's Hong Kong auction of Chinese contemporary art. Despite fears the globaleconomic slowdown would weaken auction prices, the hammer went downon nearly US$18 million worth of works on Wednesday afternoonalone. Today"s Papers covers key China business stories carried bymajor international and Chinese dailies, sourced from their webeditions. LED Tube Lamps Manufacturer
Other news and breaking stories are carried on The China Perspective 's homepage or in the Daily Briefs section. Comments: Login to post comments.