Shenzhen China

"Ode to the Trailblazers," a music-and-dance show staged on the 10th anniversary of Shenzhen's establishment as China's first "special economic zone," displayed a bizarre mix of old propaganda forms and new artistic freedoms.

China's decade-old experiment with stock markets is getting mixed grades from the country's own economists as reports of widespread manipulation and fraud continue to surface. The Shanghai and Shenzhen exchanges last year outperformed most other bourses around the world. Their combined capitalization has exceeded $500 billion, ranking them third in Asia behind Tokyo and Hong Kong. But many observers do not believe the numbers reflect true market forces.

Tony Ling figured he was into a sure thing. During his first four months playing the fledgling Shenzhen stock market, Ling had seen a 50,000 yuan ($9,600) investment in shares of the Shenzhen Development Bank double in value. "It's very good," he said cheerfully, adding that some of his initial funds came from relatives in the nearby British colony of Hong Kong. "Stock can earn you a lot of money--more than your salary, more even than Westerners make."

The South China dream machine runs in high gear in this bustling, money-chasing, noisy and often tawdry boom town that lures the ambitious with visions of once-forbidden riches. For the past decade they have come pouring in--everyone from simple farm youths to guileful offspring of high Beijing officials.

The South China dream machine runs in high gear in this bustling, money-chasing, noisy and often tawdry boom town that lures the ambitious with visions of once-forbidden riches. For the past decade they have come pouring in--everyone from simple farm youths to guileful offspring of high Beijing officials.

China's decade-old experiment with stock markets is getting mixed grades from the country's own economists as reports of widespread manipulation and fraud continue to surface. The Shanghai and Shenzhen exchanges last year outperformed most other bourses around the world. Their combined capitalization has exceeded $500 billion, ranking them third in Asia behind Tokyo and Hong Kong. But many observers do not believe the numbers reflect true market forces.

Homes for Chinese: Largo Vista Group, Ltd., a Newport Beach maker of manufactured homes, said it has signed a deal to export its houses to China. Models are scheduled to be shipped this week from the Port of Long Beach to Shenzhen, China, 30 miles from Hong Kong. The models will be erected in China for viewing by potential buyers. The population of Shenzhen, China's largest "Special Economic Zone," has grown from 40,000 to 4 million in the past 10 years--creating a severe housing shortage.

SACRAMENTO - The smell of the blossoms had drawn Mike Williams to the rose garden sometime after midnight. Capitol Park security guards were scarce at that hour, and he hoped to get a little sleep. At 60, the medical technology inventor and entrepreneur was homeless, his money gone, his 28-year marriage over. But on that August night, things got worse: Williams was awakened by brutal kicks to his midsection. The thieves grabbed his backpack and laptop - which he'd been using to chronicle his unexpected journey.

JDS Uniphase Corp., the maker of parts for fiber-optic networks, said it would cut 850 jobs as the company consolidated its U.S. manufacturing. Production handled in Ewing, N.J., and Melbourne, Fla., would be shifted to the company's plant in Shenzhen, China, and to two manufacturing partners, the San Jose company said. Manufacturing at its Santa Rosa, Calif., plant also will be reduced, the company said.

Container terminals in Shenzhen, China, which charge almost a third less for handling cargo than those in neighboring Hong Kong, processed 40% more containers in November as overseas companies bought more China-made products. Shenzhen, China's second-busiest port after Shanghai, handled 980,000 standard 20-foot containers last month, said Gan Huojin, an official at Shenzhen's municipal port bureau. Traffic for the first 11 months of the year also rose 40% to 9.68 million containers.

Tony Ling figured he was into a sure thing. During his first four months playing the fledgling Shenzhen stock market, Ling had seen a 50,000 yuan ($9,600) investment in shares of the Shenzhen Development Bank double in value. "It's very good," he said cheerfully, adding that some of his initial funds came from relatives in the nearby British colony of Hong Kong. "Stock can earn you a lot of money--more than your salary, more even than Westerners make."

"Ode to the Trailblazers," a music-and-dance show staged on the 10th anniversary of Shenzhen's establishment as China's first "special economic zone," displayed a bizarre mix of old propaganda forms and new artistic freedoms.

SHENZHEN, China - Gov. Jerry Brown, visiting the headquarters of an electric car and bus manufacturer here, announced Tuesday that the company would open a factory in Lancaster, the first Chinese-owned vehicle plant on American soil. The firm, Build Your Dreams, or BYD, will put 10 new plug-in buses on the streets of Long Beach beginning next year after assembling them in the Lancaster facility, with hopes of producing dozens more in coming years. "It's very significant," said Brown, speaking in this southern port city on the last full day of his weeklong visit to China.

Two men were arrested at Los Angeles International Airport on charges of trying to export contraband military devices to China, authorities said Friday. John Chu, 44, of Pasadena and Zhu Zhaoxin, 55, of Shenzhen, China, were taken into custody Thursday by investigators from the Department of Homeland Security after arriving on a flight from Boston, where they allegedly negotiated a deal to buy traveling wave amplifiers from undercover agents.