The global economic recession is forcing the rich in China to scale down their spending on luxury goods, but it cannot hold back the rapid growth of wealthy households, according to a report released recently by global management consultancy McKinsey & Company. China is expected to be the world’s fourth largest country with wealthy households by 2015, after the US, Japan and the UK. The nation is expected to have more than 4 million wealthy households by then, the report said […]
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Shanghai’s permanent population graph is likely to dip further this year, the authorities said recently. The births of 96,700 children were registered with the city’s hukou, or household registration, system last year while 107,000 died, following a 15-year negative natural growth, a report from Shanghai Municipal Statistics Bureau said […]
The number of known AIDS victims among people holding Shanghai residency has increased more than fivefold since 2005, according to a report released recently […]
6 in every 10,000 people in China have a personal wealth of more than 10 million yuan ( nearly 1.5 million US dollars), shows the recently issued “Hurun Wealth Report 2009”. After the report came out, it immediately raised a lot of doubts among netizens: “Have Chinese people really become so rich?” […]
China should focus on self-innovation rather than over-reliance on technology imports to achieve the industrial modernization, according to a blue paper issued by the Chinese Academy of Social Sciences (CASS) recently. The report was made upon CASS’s survey on the country’s 15 key industries. The result showed inadequate investment in self-innovation in China, which has held back the country from faster industrialization […]
Chinese online game vendor Netease Inc announced that it has got the license to run Activision Blizzard Entertainment blockbuster video game World of Warcraft in China for the next three years […]
According to new research, success in 68% of technology projects is “improbable.” Poor requirements analysis causes many of these failures, meaning projects are doomed right from the start […]
The Hurun Research Institute recently released a report showing the plummet in wealth of the top 20 richest people on the 2008 China Rich List. According to the report, the net worth of the stakes that China’s top 20 richest people hold in their listed companies had shrunk by 91.1 billion yuan or 40 percent […]
Not a recent piece of news, but it would be interesting to see if the trend has been updated since then: a Chinese expert predicted 55 percent Chinese households will have a yearly income over 60,000 yuan (8,0407 U.S. dollars) by 2020, the Beijing Morning Post reported in Beijing […]
Researchers have discovered about 70 percent of apartments in Guangdong’s provincial capital contained formaldehyde levels exceeding national standards, the Guangzhou Daily reported. On average, levels were 64.3 percent higher than the standard, it said […]