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Caixin Media

12.15.14

China, Russia Near Deal for Wide-Body Aircraft

Russian and Chinese aircraft manufacturers are preparing to cooperate to help China meet soaring demand for new jumbo jets without kowtowing to industry heavyweights Airbus and Boeing.Aviation industry officials on the sidelines of the recent Zhuhai Air Show in southern China...

Caixin Media

12.11.14

Sacked Deputy Reform Commissioner Gets Life in Jail for Graft

A former deputy head of the National Development and Reform Commission (NDRC) has been sentenced to life in prison for taking 35.6 million yuan (U.S.$5.8 million) in bribes between 2002 and 2012, according to a microblog post from a Langfang court in Hebei province.In handing...

Caixin Media

12.09.14

With New Fund, China Hits a Silk Road Stride

China's ambitious plan to expand trade links westward into Central Asia in the spirit of the ancient Silk Road is taking shape now that the government has decided to shift foreign currency into a special fund.The State Council will tap the nation's foreign currency reserves for...

Caixin Media

11.24.14

At Factory Waste Ponds, Fumes Choke Fantasies

Deep in the Tengger Desert, near a community of cattle herders about 700 kilometers west of Beijing, pipes from a complex of coal processing and chemical factories once spewed slimy wastewater into six ponds.The "evaporation ponds" were designed to protect the desert's sensitive...

Caixin Media

11.17.14

Visa and MasterCard Confront China’s Stacked Deck

Visa and MasterCard executives eager to expand in China were thrilled recently when Premier Li Keqiang seemed to suggest that a door would open to them for bank card yuan business in the country.But they had read Li wrong: The premier's statement in late October did not signal an...

Caixin Media

10.27.14

Rise and Fall of a Coal Boomtown...

Some 187 kilometers west of Taiyuan, capital of the northern province of Shanxi, the city of Luliang is located on the dry and gullied Loess Plateau in the upper and middle reaches of the Yellow River.The city, which covers 21,143 square kilometers with a population of some 320,...

Caixin Media

10.21.14

Revision of Securities Law Is Chance to Liberalize Market

China's securities law is to undergo a comprehensive revision almost a decade after the last major overhaul. Public consultation is due to start in the first half of next year, following recent comments from officials, scholars, and market participants.The first national law of...

Caixin Media

10.14.14

Sounds of Distinction

SHEILA MELVIN

The Peking Opera star Mei Lanfang (1894-1961) is generally acknowledged to have been the greatest performer of female dan roles in the history of his art. He was also a renowned theatrical innovator whose performance style is carried on as the "Mei School." Among the activities...

Caixin Media

09.22.14

Nudging China Toward Governance Reform

CAIXIN

Three recent items of news deserve attention. First, revisions to the budget law were passed late last month. Second, in a speech this month marking the 60th anniversary of the founding of the National People's Congress, Party General Secretary Xi Jinping called for "governance...

Caixin Media

09.08.14

Gaokao, China’s National College Exam, to Carry Less Weight...

CAIXIN

The Ministry of Education announced reforms on September 4 that will lessen the weight that the gaokao, the country's national college entrance exam, carries for university enrollment. The changes are to come into effect by 2020.The plan would see students sit three tests...

Caixin Media

09.03.14

Beijing Must Address Claims of Anti-Foreign Bias...

CAIXIN

Once mocked as a “toothless tiger,” China’s anti-monopoly law is finally demonstrating some bite, six years after it took effect.The three agencies responsible for enforcing it—the National Development and Reform Commission (NDRC), the Ministry of Commerce, and the State...

Caixin Media

08.12.14

How Tianjin’s Top Cop Built Web of Corruption Over 40 Years

CAIXIN

The fall of the public security chief, Wu Changshun, of the northern port city of Tianjin has rocked the local public security system and shed light on the graft network cultivated by Wu over 40 years.The Central Discipline Inspection Commission (CDIC) said in a statement on July...

Caixin Media

07.08.14

Hard Choices for Family Planners and Parents

CAIXIN

The technocrats in charge of China's one-child policy have the power to force sterilizations, abortions, and intra-uterine device (IUD) implants, as well as punish uncooperative parents by denying them jobs, denying their children schooling, and slapping them with fines.So when...

Caixin Media

07.01.14

China Pulling the Plug on Foreign Mainframes

CAIXIN

E-commerce companies and banks in China are scrapping hardware and uninstalling software for mainframe servers made by American suppliers in favor of homegrown brands said to be safe, advanced, and a lot less expensive.The movement has taken special aim at products made by the...

Caixin Media

06.10.14

A Jesuit Astronomer in a Qing Emperor’s Court

CAIXIN & SHEILA MELVIN

Of the 920 Jesuits who served in the China mission between 1552 and 1800, only the Italian Matteo Ricci (Li Madou) remains well known. This is understandable—it was Ricci who first gained permission for the Jesuits to live in Beijing and who established the example of respect...

Caixin Media

05.06.14

Growing Pains for a Megalopolis in Transition

CAIXIN

Twenty years of on-and-off government discussions have yielded little progress toward the goal of coordinating urban and industrial development in a key Chinese megalopolis—the region encompassing the nation's capital Beijing, neighboring Hebei province, and the port-...

Caixin Media

04.23.14

Graft Inquiry at CNPC Uncovers Shady Deal...

CAIXIN

A little-known deal related to an equally little-known, yet highly productive oilfield has come to light as a graft investigation unfolds at oil giant China National Petroleum Corp. (CNPC). A businessman with strong ties to officials is behind the deal, which generated hundreds...

Caixin Media

04.01.14

Eviction by Arson: Land-Seizure Turns Deadly

CAIXIN

A village head and the boss of a building company were among the seven people arrested over an arson attack on a protest against a land seizure in Shandong Province in which one man died and three others were hurt.The government of Pingdu, a county in the eastern province of...

Caixin Media

03.03.14

Kunming Attack Is ‘China’s 9/11,’ State Media Says

CAIXIN

In the days after a major terror attack in Kunming, state media outlets are calling for a united front to combat terror and warning against excusing the attackers or criticizing the government’s policies on minorities.On the evening of March 1, a group of assailants armed with...

Caixin Media

02.18.14

Lee Hsien Loong on What Singapore Can—and Can’t—Teach China

CAIXIN

As one of the Four Asian Tigers, Singapore is known for its strong economy and orderly society. The city-state, with its population of 5.3 million people, is listed by the World Bank as fourth in the world in terms of per capita income. As a regional business hub, it is lauded...

Caixin Media

01.07.14

Chinese Firm Linked to CNPC Suspected of Fraud in Iraq

CAIXIN

Just after the December 29 celebration of the Muslim holiday Ashura in southern Iraq, heads of the Iraqi subsidiary of China National Offshore Oil Corp. (CNOOC) received a letter titled “Suspending all activities of Hermic.”The sender of the letter was Jameel Hussain, Vice...

Caixin Media

02.11.14

Local Governments Aim for Lower GDP Growth This Year

CAIXIN

Most of the local governments that have announced their GDP targets for this year aimed lower than they did in 2013, citing the need to rebalance the economy and improve the quality of growth. Many missed their growth targets last year.The announcements were made after the...

Caixin Media

01.13.14

Leading the Battle for Reform

CAIXIN

The turn of the year brought news that President Xi Jinping will take the helm of the new leading group for overall reform.This group is a key part of China’s reform drive. As soon as its formation was announced at the Third Plenum of the Communist Party’s Eighteenth Central...

Caixin Media

12.30.13

The Rise and Fall of a Local Official Obsessed...

CAIXIN

A November 27 statement by the Communist Party’s anti-corruption watchdog confirmed that the Deputy Governor of Hubei Province, Guo Youming, was being investigated for graft.Three days later, Guo was removed from his post, becoming the thirteenth official with the rank of...

Caixin Media

12.02.13

How an Expectant Mother Died in Qingdao

CAIXIN

One of the fifty-five people to die in an explosion on November 22 at a pipeline owned by China Petroleum & Chemical Corp. (Sinopec) in the eastern city of Qingdao was a twenty-three-year-old pregnant woman named Chen Na.Her husband, who declined to give his full name, told...

Caixin Media

11.25.13

Chinese State Oil Scandal Has Links to Iraq

CAIXIN

A legal storm that started with China’s largest state-owned oil company has expanded to include Iraq and led to the detention of more people.Mi Xiaodong, a former mid-level official at China National Offshore Oil Corporation (CNOOC) was detained by party discipline officials in...

Caixin Media

01.08.14

How Shanghai’s Free Trade Zone Works

CAIXIN

At a conference table surrounded by bookshelves in his Shanghai office, the city’s party boss Han Zheng recently polished the image of a commercial crown jewel—the China (Shanghai) Pilot Free Trade Zone—during an exclusive interview with Caixin.Han described the planning,...

Caixin Media

11.11.13

How Ambition Buried an Official Known As ‘The Digger...

CAIXIN

Cranes and bulldozers were quieter in the ancient city of Nanjing on October 16.News broke that day that the city’s fifty-seven-year-old mayor, Ji Jianye, was being investigated for “suspected serious discipline violations,” the Communist Party’s favored euphemism for...

Caixin Media

10.28.13

How Police Got It So Wrong Arresting a Journalist

CAIXIN

The arrest of a journalist for allegedly damaging the reputation of an equipment manufacturer has spurred debate in both the media and legal circles. The discussions revolve around the rights of the press, interpretation of the law, and possible abuse of power by the police.The...

Caixin Media

10.21.13

Is Freedom of Thought in China Just a Dream...

CAIXIN

The Shanghai Free Trade Zone was recently launched. The measure is commonly regarded as an attempt by the leadership of the Communist Party to further economic reform, which has slowed over the past decade. It is also part of what policymakers call “walking on two legs.”...

Caixin Media

10.08.13

Shandong Shipyard’s Lesson: Don’t Rock the Bank

CAIXIN

What was initially billed as a lucrative order from a European customer has pushed a Shandong Province shipbuilding company to the brink of bankruptcy and ruined its relationship with one of China’s biggest banks.Rushan City Shipbuilding Co. is fighting for survival after...

Caixin Media

10.15.13

Sip of Death Plagues River Villages

CAIXIN

Cancer is claiming fewer lives these days, and Dr. Wang Shiren says he’s been caring for a steadily declining number of patients suffering from gastrointestinal disorders.Yet a decades-long health calamity continues to grip Huangmengying, a Henan province community of about 2,...

Caixin Media

09.30.13

Reform of State-Owned Enterprise Requires Adopting Modern Governance

CAIXIN

Corruption involving the country’s state-owned enterprises (SOEs) has hogged the headlines. So far, senior executives at China National Petroleum Corp. have been sacked, former railways officials have been hauled to court and, most recently, news broke that two executives at...

Caixin Media

09.23.13

Measuring the Wealth Gap

CAIXIN

Recent findings by China Society of Economic Reform (CSER) have offered a rare glimpse into growing income inequality in the country.The study shows that in 2011 unidentified “gray income,” or the difference between CSER-surveyed income and that of the official household...

Caixin Media

09.16.13

Chongqing Officials Mired in Web of Sex, Lies and Video

CAIXIN

When a sex video involving a Chongqing official went viral on the Internet on November 2012, like millions of others, Tan Linling clicked out of curiosity.To her surprise, Tan recognized the woman in the video as a former colleague and friend named Zhao Hongxia. Tan immediately...

Caixin Media

09.10.13

Sober Day Dawns for China’s Baijiu Distillers

CAIXIN

Distillers of China’s most popular spirits, baijiu, are sobering up to a business slowdown and tight financing after a decade of outstanding growth.Sales are off and company market values have fallen over the past year, prompting some investors to cash in their bets on minor...

Caixin Media

08.27.13

Inner Mongolia: Where Bankers Sold Bunk

CAIXIN

Underlying the trial of a woman authorities say drained bank accounts and kidnapped a banker’s wife are vexing questions about account security and teller supervision at China’s state-run bank branches in Inner Mongolia.Hundreds of millions of yuan were stolen from customer...

Caixin Media

08.12.13

China’s Urban Sludge Dilemma: Sinking in Stink

CAIXIN

Promptly at noon on March 17, a heavy truck hauling a dark substance and on a dark mission pulled out of the Gaobeidian Wastewater Treatment Plant in eastern Beijing.A wastewater treatment engineer helped a Caixin reporter identify the unusual load, which jiggled in the truck’s...

Caixin Media

08.05.13

County in Shaanxi in a Deep Hole as Mining Bubble Pops

CAIXIN

A financial crisis triggered by falling coal prices is brewing in Shenmu County, in the northwestern province of Shaanxi.Construction projects have been halted, universal health care has run into payment problems and many private bankers have disappeared in the last few months,...

Caixin Media

07.29.13

Why a Reporter Feels Sympathy for an Airport Bomber

CAIXIN

These past few years as a reporter, I have met some people with nothing left to live for and now another person can be added to the list. Ji Zhongxing, the disabled man who set off a bomb in a Beijing airport on July 20, is that person.Ji and I are the same age. We were both born...

Caixin Media

07.08.13

Central Bank Raises the Red Flag over P2P Lending Risks

CAIXIN

A recent report by the central bank about peer-to-peer (P2P) lending websites in China has shed light on some severe problems in the business for which there is, as yet, little regulation.The original idea for P2P lending websites was that they were only a platform to match...

Caixin Media

06.25.13

Legal, Economic Reforms Important At Coming Party Session

CAIXIN

China’s blueprint for economic reform is finally taking shape. The government has appointed a taskforce to draft the plans, ahead of the third plenary meeting of the 18th Central Committee. With the country’s economy at the crossroads, these plans are eagerly awaited.The...

Caixin Media

06.25.13

Spoon Half Full for China’s Rural School Kids

CAIXIN

A 2010 survey of boarding school students in four of China’s poorest counties found hunger pangs, malnutrition and stunted growth appallingly common.Some 72 percent of the more than 1,000 students questioned for the China Development Research Foundation (CDRF) survey said they...

Caixin Media

05.13.13

Competitors Try Curbing China Mobile’s 4G Urge

CAIXIN

The wireless Internet technology race is intensifying a longstanding rivalry between China’s largest mobile phone operator, China Mobile, and its smaller competitors China Telecom and China Unicom.Since 2011, China Mobile customers in fifteen cities nationwide have been...

Caixin Media

05.04.13

Earth Moves, China Rallies

CAIXIN

Rapeseed was ripening in the lush fields ringing the village of Renjia when a local farmer, forced from his home, stepped into the sea of green stalks and pitched a tent.Less than a day earlier, the farmer and each of his more than 3,000 neighbors in Renjia had been rendered...

Caixin Media

04.20.13

Bird Flu’s Latest Talons Force Fresh Defense...

CAIXIN

A surprise attack by a new strain of the bird flu virus has forced Chinese authorities into the trenches for a two-pronged defense against unseen enemies.The primary threat is the deadly virus that scientists identified as a new strain of H7N9. It first surfaced in February in...

Caixin Media

06.18.13

Will Bond Market Tidying Trigger Clean Sweep...

CAIXIN

China’s financial regulators are rewriting rules for the interbank bond market after criminal investigations early this year led to the arrests of several well-known bond traders and exposed serious flaws in the market’s supervision system.The changes affect several agencies...

Caixin Media

06.03.13

Trading Companies and the Business of Illusion

CAIXIN

Last year, the owner of an export-processing company whom we will call Lin Minyao learned of an easy way to make money in Shenzhen, the port city next to Hong Kong.Like his fellow traders, Lin said he could set up two shell companies, one in Hong Kong and the other in special...

Caixin Media

05.20.13

Errors of Aggression Catch up with Underwriter

CAIXIN

Ping An Securities Co. has been slapped with a fine by the securities regulator and will lose its stock underwriting license for three months because of its sloppy work in underwriting the initial public offering of a company that turned out to be a fraud.This is not the first...

Caixin Media

04.15.13

Tencent Lets WeChat’s Rapid Growth Do the Talking

CAIXIN

Tencent Holdings Ltd.’s free messaging service, WeChat, has seen its popularity grow among both individual users and businesses, even amid a dispute with the Big Three telecom operators [China Mobile, China Telecom, and China Unicom].Since launching in January 2011, WeChat, the...

Caixin Media

04.15.13

China Export Policy Chokes on Vitamin Verdict

CAIXIN

Internet cafés covered by the city of Wuhan’s Internet Café Association agreed to set minimum prices for online access nearly a decade ago. And more than one hundred coking coal company-members of the Coke Association of Shanxi Province each agreed in 2005 to cut production...

Caixin Media

04.08.13

A Day in the Life of a Beijing “Black Guard...

CAIXIN

After receiving his delayed wages, thirty-year-old Wang Jie decided to change professions.On March 7, he pressed a fingerprint onto a receipt that read: “Today I have received settlement of the 12,000 yuan in wages owed to me by Mr. Shao.”“Actually it was short by over 1,...

Caixin Media

04.01.13

New Hands Take the Financial Regulation Wheel

CAIXIN

Who’s steering China’s carefully managed financial system? Speculators were busy name-guessing before and for several months after the Communist Party’s 18th National Congress in November.Finally, the dust started to settle with formal appointments announced a few days...

Caixin Media

03.23.13

China’s Economic Policymakers Turning a Page

CAIXIN

Written into the script for China’s once-in-a-decade leadership shuffle, confirmed at the recently concluded National People’s Congress, are macroeconomic policies for the new government that plot a course for future growth.The policy book has already landed on the desk of a...

Caixin Media

03.23.13

Achieving Real Progress in How Government Functions

CAIXIN

After months of speculation, the reorganization of the State Council has finally been approved by the National People’s Congress.Under the shake-up, China’s rail business will no longer be managed by the regulator. Three national agencies will be formed or beefed up—on...

Caixin Media

03.17.13

Ladders, Losers, and Direct-Marketing Schemes

CAIXIN

A skin cream customer pays an extra fee and, voilà, instantly becomes a company representative with the right to sell cream and other products, as well as recruit more dealers.Eventually, she persuades other women to buy the cream and join the marketing team by paying the fee....

Caixin Media

03.09.13

Is Railway Reform Finally On Track...

CAIXIN

Finally, it seems the railways ministry may soon be restructured as part of a wider exercise by the government to streamline its ministries. Putting railway reform on the agenda of this year’s meetings of the National People’s Congress and the Chinese People’s Political...

Caixin Media

02.24.13

Dirty Business for China’s Internet Scrubbers

CAIXIN

Flames of a public relations disaster were licking at the heels of a private equity firm when China’s most notorious Internet-scrubbing company rode to the rescue.Saving the Shenzhen-based firm’s image was not cheap, and it took more than two months to douse the flames of...

Caixin Media

02.23.13

China’s 3D Printing: Not a Revolution—Yet

CAIXIN

Engineers, inventors, and industrial futurists in China are setting sights on a new technological frontier as three-dimensional printing slowly revolutionizes manufacturing.A Beijing University research team, for example, has been working on what industry sources say is a...

Caixin Media

03.16.13

Spin of a Crooked Record...

CAIXIN

Hundreds of villagers in Hebei province discovered they were victims of identity theft—and in demanding officials find the culprit, they became the recipients of harassment and legal bills. Instead of seeing a shakeout, the villagers watched environmental authorities and local...