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Nov 14, 2011

China fines drug middlemen for cornering market

BEIJING, Nov 14 (Reuters) – China’s central planning
agency has fined two middlemen for attempting to control the
market for a drug compound, and thereby driving up the cost to
make a blood pressure medicine provided by the government at low

The case is one of very few applications of China’s
anti-monopoly law by the National Development and Reform
Commission, which has a mandate to monitor prices.

Nov 14, 2011

Calls for more WTO-style reforms in China

BEIJING/HONG KONG (Reuters) – Ten years after joining the World Trade Organization, China has clearly gained — it is now the world’s second-biggest economy — but foreign multinationals and Chinese reformers alike worry that the drive to open its markets has stalled.

Rather than building on its WTO commitments to open new sectors, the focus has shifted to regulations designed to protect domestic state-owned champions, the critics argue.

Nov 8, 2011

China CCTV advertising sales growth slows

BEIJING, Nov 8 (Reuters) – Growth in advertising sales by
China’s state television has softened to the slowest in at least
six years, a sign of corporate caution and an indication that
the pace of economic growth could slow further too.

China Central Television’s (CCTV) annual advertising auction
doubles as a barometer for the Chinese economy, with ad spending
rising by about one and a half times GDP growth in each of the
past several years.

Nov 8, 2011

Fight for Chinese consumers buoys CCTV ad auction

BEIJING, Nov 8 (Reuters) – Excited bidders pushed
advertising rates on China’s state television to new highs on
Tuesday as domestic firms crowded out foreign brands in the
battle to reach ever more Chinese consumers.

China Central Television’s annual advertising auction is
broadly seen as a barometer for the Chinese economy, with ad
spending rising by about one and a half times GDP growth in each
of the past several years.

Sep 6, 2011

Nigeria chief sees China yuan becoming reserve currency

BEIJING, Sept 6 (Reuters) – China’s yuan will inevitably
become a global reserve currency, Nigeria’s central bank
governor said, adding his country’s need to diversify reserves
grew more urgent after one credit agency stripped the United
States of its top-notch debt rating.

A day after Nigeria said it would diversify a tenth of its
$33 billion foreign exchange reserves into the yuan, Lamido
Sanusi said Beijing would allow the Nigerian government to use
yuan to buy yuan-denominated bonds in Hong Kong and Shanghai.

Sep 2, 2011

What’s up, doc? Investors knock at China hospitals

BEIJING (Reuters) – The black Audi parked at Beijing’s best-regarded hospital bears a license plate of a province about 1,000 miles away — testimony to the willingness of Chinese to go the extra mile to get top-notch healthcare.

But the cure sometimes seems as painful as the disease — even for the rich — as the healthcare system is riddled with crowded hospitals, too much bureaucracy and too few nurses.

Aug 25, 2011

China’s Hu tells Sarkozy concerned about euro

BEIJING (Reuters) – China hopes that Europe will take steps to protect China’s investments there, Chinese President Hu Jintao told the French President Nicolas Sarkozy on Thursday, nonetheless voicing confidence in the euro and vowing to keep investing in it.

Sarkozy, making a brief visit to Beijing, in turn pressed Hu for China’s support for his G20 agenda.

Aug 8, 2011

China should stand pat on U.S. debt – ex lawmaker

BEIJING (Reuters) – China should sit tight on its U.S. Treasuries investment and adopt a “no buy, no sell” strategy, former top Chinese parliamentary official Cheng Siwei said on Monday as Asian stocks tumbled on a historic downgrade of U.S. debt rating.

Taking aim at how China should invest its $3.2 trillion in foreign exchange reserves, the world’s largest, Cheng said China should use future reserves to buy other bonds and to make foreign direct investments.

Jun 27, 2011

China shows off latest high-speed train

With its fully reclining airline-style business class seats, a
strict no-smoking policy and designed top speed of 350 km (220
miles) per hour, the new Beijing-Shanghai express embodies
China’s race to the future.

The new line’s launch is coordinated with the 90th
anniversary of the ruling Communist Party to highlight the
“scientific development” slogan dear to the heart of Chinese
president and party secretary Hu Jintao.

Apr 5, 2011

Detained Chinese artist a tireless government critic

BEIJING (Reuters) – Burly, bearded and blunt, artist Ai Weiwei is one of China’s loudest and most colourful challengers of Communist Party controls, whose art spans porcelain sunflower seeds to names of earthquake victims scrolling on a computer screen.

But his recent detention signals the 53-year-old’s busy career as an artistic and political provocateur may have run into a wall of Party score-settling.

    • About Lucy

      "I am the Reuters Insider correspondent in China, where I have lived for ten of the last 15 years. Prior areas of coverage include political and general news, as well as commodities and energy policy and markets."
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