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When I graduated from university four years ago, a classmate got a job as a municipal civil servant and bragged that he could spend his days doing very little, but still enjoy a better-than-average salary and welfare package. I thought he didn't have goals in life and I pitied him.
China should learn lessons from the Dubai crisis and take concrete measures to prevent a similar crisis from happening in its speculation-ridden real estate sector, which could undermine the national economy.
Climate experts said Tuesday it was "unnecessary" for China to receive international inspections on its greenhouse gas emissions cut as the target setting was a "voluntary action" taken by the Chinese government "based on its own national conditions.
The Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) have jointly issued a new administrative plan for landline phone charges. This is a right move, but the industry is crying out for fair competition.
Emerging East Asia's local currency bond market has snowballed in the last decade to more than $4 trillion, but there has not been a parallel increase in trading activities in most countries.
The government's $586-billion stimulus package and record bank lending have enabled the Chinese economy to rebound strongly from the worst global recession in decades. But public concern is rising that the country's dependence on investment for economic growth may be too high to be sustained.
China is aiming to cut its reliance on manufacturing and boost its services trade to facilitate domestic economic restructuring going into the post-crisis world market.
Increasing the role of domestic consumption is one of the key objectives of China's 11th Five-Year Plan (2006-10). China's impressive overall economic development in recent decades has been accompanied by some imbalances. A relatively low and declining role of consumption has been one of the key imbalances, together with increasing income inequality, intense use of resources and impact on the environment, and a rising trade surplus. The imbalances are largely an outcome of China's capital-intensive, industry-led pattern of growth. The 11th Five-Year Plan aims at redressing the imbalances, in large part by adjusting the pattern of growth.
Campaigners for carbon-emission reductions regularly highlight the melting snow and ice of Mount Kilimanjaro. But we need to pay as much attention to the people living in the mountain's shadow.
Bulls will always find bullish features in the news and the bears will always find something to worry about.
Foxconn, an original equipment manufacture (OEM) front-runner in the communication, computer and consumer (3C) product area, formulated a blueprint in September aimed at establishing its own distribution network in mainland China by setting up 10,000 chain stores.
With the yuan-dollar exchange rate remaining almost the same for 16 consecutive months, the Chinese government is under increasing pressure to revaluel the yuan.
