Other Briefings
Four Rio Tinto Employees Suspected of Espionage
SHANGHAI, Jul. 9 – Four employees of the mining company, Rio Tinto, have been detained since July 5 on charges of espionage. The employees from Rio Tinto’s Shanghai sales office were accused of stealing government secrets. Three are part of the local sales team while one is an Australian national, Stern Hu, the general manager […]
First Cross-Border Yuan Trade Settlement Deal Made
Jul. 6 – The first cross-border yuan trade settlement deal came through today from the Bank of China (BOC), Hong Kong to Bank of China, Shanghai reports Xinhua. The deal is part of a pilot program announced by Beijing last April to ease cross-border trade deals for Chinese importers and exporters in southern Guangzhou, Shenzhen, […]
Hong Kong, Mainland Businesses to Use Yuan for Trade Settlement
Jun. 30 – Hong Kong businesses will soon be able to settle international trade in yuan with companies in Guangzhou, Shenzhen, Shanghai, Dongguan and Zhuhai starting next month. The agreement was formalized last Monday by Hong Kong Monetary Authority Chief Executive Joseph Yam and the People’s Bank of China Governor Zhou Xiaochuan. During the press […]
Shanghai to Offer Perks for Expat Finance Professionals
SHANGHAI, Jun. 26 – The local government is set to launch a program that will give foreign finance specialists incentives to work in Shanghai including lowered taxes, reports Shanghai Daily. The financial talent award is just one of the government’s policies aimed at turning Shanghai into an international financial and shipping hub by 2020 “We […]
Shanghai’s New Tunnel Links Port with Financial Center
SHANGHAI, Jun. 25 – The city’s newly-completed tunnel spanning of 2,254 meters will now link the Shanghai Port located on the on the west bank of the Huangpu River to its finance and trade center, Lujiazui. The tunnel took 10 months to build at a cost of RMB1.8 billion and runs under the Huangpu river […]
China Industry: Jun. 11
Jun. 11 – This is a regular series of relevant industry news from around China. Solar power Shi Lishan, vice director of the National Energy Administration’s Renewable Energy Department, said that the country will implement a tariff of RMB1.09 per kWh for solar power in a bid to make this type of renewable energy more […]
China Industry: June 2
Jun. 2 – This is a regular series of relevant industry news from around China. Air transport Hainan Airlines booked a loss of RMB1.4 billion for 2008. The company blamed the loss on the high oil prices and decreased demand. Separately, the company also received government aid worth RMB3 billion from the local Hainan Provincial […]
Shanghai to Subsidize More Environmentally Friendly Cars
SHANGHAI, Jun. 1 – The local government is encouraging more people to replace their cars and trucks with more environment-friendly models by giving average subsidies of RMB5,000 starting today until April 30, 2010. The measure is part of the city’s efforts to ease pollution and help the local economy for the coming Shanghai 2010 World […]
