Over 300,000 people living near the Three Gorges Dam will have to be relocated to “protect the environment and avoid geographic hazards.” Local officials put the total number of people who have been displaced by the world’s largest hydropower project at 1.138 million. A local government work report said officials have “basically” finished the first [...]
The Shanghai Urban Planning, Land and Resources Administration said the local government will have the right to reclaim plots of land left idle for two years without compensating developers. Developers will be asked to register with local land bureaus if they have land that is not being built on or if they have not started [...]
China’s crude steel production in 2009 rose 14% from the year before to a record 568 million tons as stimulus spending and loose lending bolstered demand from infrastructure projects and autos. According to the National Bureau of Statistics, steel production jumped 10.7% in the October-December period, the fastest growth recorded since 2007. “The two-year stimulus [...]
China Investment Corp, the country’s US$300 million sovereign wealth fund, has asked the US to ease the scrutiny of Chinese government entities investing there. CICÂ chairman Lou Jiwei said the fund has recently finalized a deal to buy a minority stake in an American electricity firm and that the deal is subject to approval by four [...]
Dongfeng Honda Automobile, a joint venture between Honda and Dongfeng Motor Group, will build a new US$169 million production facility in Wuhan, Hubei province, in order to keep up with growing demand. The one million square meter plant will be Honda’s fifth in China, having a similar joint venture arrangement with Guangzhou Automobile Industry Group. [...]
China’s domestic web search giant Baidu is suing its domain name registration service provider for negligence. Baidu is seeking damages from Register.com following an attack on its website by a group named the Iranian Cyber Army who erected an Iranian flag on the search engine’s main page. The group appears to have mistaken Baidu for [...]
Investor sentiment is turning more positive on the US while fears of a market bubble in China are increasing, according to a survey of investors and analysts. “American consumers are regaining confidence, and with that alone, there should be no impediments fur current business to resume the growth of the past decade,” one respondent from [...]
