China has told its six telecommunications companies to merge their assets, allowing fixed-line carriers to expand into wireless services and creating three operators that will offer phone and Internet connections to 1.3 billion people. Under the plan, the parent of China Telecom will buy a mobile phone network from the parent of China Unicom, which in turn will merge with the company that controls the China Netcom Group, the Ministry of Industry and Information said in a statement on Saturday. China will issue three third-generation wireless licenses after the overhaul is completed, it said…
Category: Economics
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China’s economy could be 2.5 times that of the US by 2030, based on Japan’s experience and the yuan’s appreciation against the greenback, a senior Chinese economist says in Harvard Business Review’s Chinese edition. The forecast by Justin Lin Yifu, head of Peking University‘s China Center for Economic Research and recently appointed chief economist of the World Bank, in the May issue of the magazine published on Thursday is one of the most ambitious for China’s economic growth…
Rescuers are racing against time to reach survivors a day after the strongest quake that hit China in more than three decades jolted the southwestern province of Sichuan. The country was immersed in immense grief as the death toll rose to nearly 10,000. China’s English-language newspaper China Daily silhouetted the front page in black to mourn the victims. The headline reads: ‘The Day the Earth Moved.’ Chinese Premier Wen Jiabao, who flew to Sichuan Monday evening, urged ‘calm, confidence and courage‘ in face of the catastrophe. Wenchuan County, the epicenter of the earthquake at western Sichuan province, has reported 57 confirmed deaths, and about 60,000 locals were still out of reach…
Almost 480 of the Fortune 500 companies have invested in China during the past 30 years, said Du Ying, deputy minister in charge of China’s National Development and Reform Commission. From 1978 to 2007, China’s total use of foreign investment exceeded 760 billion U.S. dollars, the largest amount among developing countries and the second largest worldwide, said Du at a national economic conference recently…
A single village in China is responsible for cranking out 60% of the world’s paintings. The overwhelming majority of the paintings are slavish reproductions of famous paintings. The artists doing the work are very talented, however, and an organization called Regional asked some of the artists to paint themselves. The results are incredible. Dafen is a village surrounded by the thriving metropolis of Shenzhen, and the origin of most of the world’s reproduction oil paintings…
Shanghai, the most powerful economic hub of China, achieved GDP of US$1.2 trillion in 2007, up 13.3% from a year earlier, marking a double-digit growth for 16 consecutive years, the Shanghai Statistics Bureau announced recently. The city’s 2007 GDP per capita stood at US$8,594 in the local calculation method, said Pan Jianxin, director of Shanghai Bureau of Statistics. And in accordance with the international standards, the figure would hit US$8,949, said Pan…
In his keynote at IxDA | Interaction ’08 Conference, Alan Cooper issues a manifesto for revolution, showing us how to take control of an industry careening crazily into confusion, and restore visibility and manageability, along with higher revenue and profit margins, by starting an insurgency of quality […]
Employees in the financial sector earned much more than workers in other industries last year thanks to the lucrative financial market, an annual salary report has revealed. The report, released by leading human-resources service provider Zhaopin.com in Shanghai, was based on a survey of more than 1,000 companies across all sectors throughout the country last year. It found workers in the financial industry were paid an average salary of 4,987 yuan (US$694) per month. The figure is about 40 percent higher than the national average […]
China’s software sector generated 580 billion yuan (about 80.8 billion U.S. dollars) in revenue in 2007, an annual increase of 20.8 percent, the Ministry of Information Industry reported: sales of software products surged 22.5 percent to 201.7 billion yuan, while system integration income rose 16 percent to 147.8 billion yuan (nearly 21 billion US dollars). The income of software and information technology services hit 97.8 billion yuan (over 13 billion US Dollars), up 24.8 percent. Revenues of embedded system software hit 115.5 billion yuan (around 16 billion US dollars), up 21.8 percent year on year…
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Do schools kill creativity?
Sir Ken Robinson makes an entertaining and profoundly moving case for creating an education system that nurtures (rather than undermines) creativity […]