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CHINA DAILY - Wednesday October 15,2008
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WASHINGTON: US President George W. Bush yesterday announced a $250 billion plan by the US government to directly buy shares in the nation's leading banks, saying the drastic steps were "not intended to take over the free market but to preserve it".
Chinese soldiers patrol the border on Heixiazi Island, Heilongjiang province, after a ceremony yesterday to unveil the boundary markers for the eastern section of the Sino-Russian border. Xinhua
Insight
ZHENGDING, Hebei: Dairy farmer Xing Lingqun should have been thrilled last week when one of his cows gave birth to a calf and began to produce milk. But he was not.
Special Supplement
After three decades of reform and opening up boosting the productivity of Guangzhou, the city is blazing new trails for the coming years of building a modern, well-off society.
Comment
China realized a century-old dream by successfully hosting the Beijing Olympic Games. The International community widely believes the Beijing Olympics symbolizes that China has finally become a major, world-class country. It represents a crucial step in the nation's efforts to climb up the next stage in terms of comprehensive national strength.
Opinion
The US Treasury Department is now thinking about using some of the $700 billion it has been given to rescue Wall Street to buy ownership stakes in American banks. The idea is that banking is so central to the US economy that the government is justified in virtually nationalizing much of the industry in order to save us from a potential depression.
Beijing CBD Special
It is a symbol of a modern metropolis, a showcase of China's globalization and a window on the nation's recent economic miracles.
Business
As the Chinese economy slows, its fixed-asset investment has also weakened, and analysts said it may not pick up in the near term despite the potentially favorable fiscal policies the country has vowed to adopt.