SHANGHAI, Dec 5 (Reuters) – China’s government banned
financial institutions from trading in bitcoin on Thursday, in
what analysts said was a restrained first step towards
regulating the digital currency that has exploded in popularity
in China and soared in value in recent months.
A statement by the central bank and four other agencies said
that, while the computer-generated currency does not yet pose a
threat to China’s financial system, it carries risks. It did
not, however, curtail the use of bitcoin by individuals.
KUNMING, China (Reuters) – Li Zhongying was freed from a Chinese labor camp ahead of schedule in September because, guards told her, the government was scrapping ‘re-education through labor’, a heavily criticized penal system created in the 1950s.
Several hundred other inmates were not so lucky, she said. Like Li, they were held without trial and forced to do factory work under what she called “cruel” conditions. They remained because they were drug offenders, she told Reuters.
SHANGHAI, Nov 23 (Reuters) – China on Saturday bolstered its
claim to islands that Japan says it owns, warning that it would
take “defensive emergency measures” against aircraft that failed
to identify themselves in airspace over them.
Ties between the Asian powers have been strained for months
by the dispute over the East China Sea islands, called the
Diaoyu in China and the Senkaku in Japan, which are believed to
be surrounded by energy-rich waters.
SHANGHAI (Reuters) – With a few exceptions, Hollywood studios are moving far more slowly than Chinese companies in the world’s second-largest movie market, said U.S. producer Janet Yang, whose works include “The Joy Luck Club” and “Shanghai Calling”.
Many studios, like Paramount Pictures with its “Transformers” franchise, have been taking steps to appeal to China’s fast-growing audiences by hiring Chinese actors or featuring Chinese products in their films.
SHANGHAI, Sept 13 (Reuters) – Behind China’s aggressive
drive to root out corruption is Wang Qishan, a
historian-turned-economist who once felt so bad about getting
free parking that he reportedly sent a colleague back to pay the
President Xi Jinping launched the anti-corruption campaign
after becoming Communist Party chief in November.
BEIJING/SHANGHAI (Reuters) – Senior figures in China’s ruling Communist Party fear ousted politician Bo Xilai could stage a political comeback one day if he is not dealt a harsh sentence in his trial for corruption, embezzlement and abuse of power, according to sources.
Bo was a rising star who analysts say was seen as a potential rival to President Xi Jinping for leadership of the Party and country before his career was spectacularly derailed by a lurid murder scandal involving his wife.
JINAN, China (Reuters) – Chinese prosecutors demanded a heavy sentence for ousted top politician Bo Xilai on Monday, the fifth day of his landmark trial, saying his “whimsical” challenge to bribery, graft and abuse of power charges flew in the face of the evidence.
Bo was a rising star in China’s leadership circles when his career was stopped short last year by a murder scandal in which his wife Gu Kailai was convicted of poisoning a British businessman, Neil Heywood, who had been a family friend.
JINAN, China (Reuters) – Ousted senior Chinese politician Bo Xilai angrily ripped into his former police chief on Sunday on the fourth day of his trial, calling him a “vile character” who faked testimony accusing Bo of covering up a murder committed by his wife.
Bo was a rising star in China’s leadership circles when his career was stopped short last year by a murder scandal which saw his wife Gu Kailai convicted of poisoning a British businessman.
JINAN, China (Reuters) – Ousted Chinese politician Bo Xilai accepted responsibility for 5 million yuan ($817,000) in funds he is accused of embezzling which ended up in his wife’s bank account, saying he had let his attention wander, in testimony read out in court on Saturday.
Bo, once a rising star in China’s leadership, is facing charges of corruption, bribery and abuse of power in China’s most dramatic trial since the Gang of Four were dethroned in 1976, at the end of Mao Zedong’s Cultural Revolution.
JINAN, China (Reuters) – Testimony in the trial of fallen Chinese politician Bo Xilai has produced salacious details about the opulent and supposedly corrupt lifestyle of the family of the once high-flying Communist Party aristocrat.
But perhaps no tidbit has attracted as much attention as the piece of exotic meat Bo’s son, Guagua, brought back from a visit to Africa in 2011.