March 5, 2012 |
In a sweeping symbolic gesture, China lowered its growth target for this year, sending its clearest message yet that the world's second-largest economy could no longer expand at its steroid-charged pace. Speaking to about 3,000 delegates at the annual meeting of the National People's Congress in Beijing on Monday, Premier Wen Jiabao said China would cut its growth target for the first time in eight years, from 8% to 7.5%, to make the country's economy more "sustainable and efficient.
September 27, 2012 |
BEIJING - The $15,000 that factory worker Li Jianli saved up to buy his white Toyota Corolla turned out to be nowhere near the costliest part of the deal. He nearly paid with his life. Li was out in the central city of Xian on a recent Saturday afternoon looking for an apartment for his soon-to-be-married son when he happened to steer the car into one of the anti-Japanese demonstrations that were rocking China. Then Li made another mistake: He leaped out of the car to plead with the mob not to trash the vehicle, which he'd bought just last year.
November 18, 2010 |
Already worried about runaway real estate prices that have shut millions out of the housing market, China's leaders are grappling with yet another threat to social stability: the soaring price of food. The nation's State Council on Wednesday announced that it would move to stabilize prices by cracking down on speculators and boosting supplies of some staples from government stockpiles. Beijing also urged local authorities to provide food subsidies to the neediest families. Rising food prices are the biggest driver of inflation in China, whose leaders have been struggling to downshift the nation's surging economy.
February 17, 2012 |
A few years ago, she embodied the rags-to-riches legend of modern China: The daughter of an illiterate farmer starts a hair salon when she is just 15, and in little more than a decade creates a business empire that makes her one of the country's wealthiest women. Now the country's "sister millionaire," still only 31 and looking much like a schoolgirl with her ponytail and straight-cut bangs, has come to symbolize something far different: opposition to the death penalty. A provincial court on Jan. 18 upheld Wu Ying's death sentence on charges of fraud and "illegal fund-raising," violating legislation aimed at fighting underground banking and loan-sharking.
April 13, 2005 |
One recent night shortly before midnight, a steady stream of vans ferried people from a parking lot in this southern town to an industrial area two miles away, near the border with Myanmar. After passing through the gate of the complex, the vans stopped in front of a yellow building the size and shape of a small airplane hangar.
July 29, 2013 |
BEIJING -- Detroit's deep financial difficulties may have prompted China to look more closely at its own debt risk. On Sunday, the Chinese government announced that it would be undertaking a comprehensive audit of local debt in China, an issue that has worried economists and others for its potential to shake the world's second-largest economy. China amassed local government debt as it powered steadily through the global financial crisis in 2008, and experts question whether local governments are now burdened with more than they can manage.