China Economic Review

Hunan rice sales plummet on contamination reports

Thu, 01 Jan 1970 08:00:00 CST

Rice sales in Hunan province have plummeted after some supplies were found to have unsafe levels of the toxic metal cadmium, Bloomberg reported. Sales have dropped more than half compared to a year ago after local media first reported on the tainted rice being discovered in Guangdong province in February, according to Cngrain.com, which is owned by state-run custodian of food reserves China Grain Reserves.

Carbon trading pilot's operating details revealed

Thu, 01 Jan 1970 08:00:00 CST

The Shenzhen Carbon Exchange announced details of its carbon trading scheme on Tuesday in advance of the pilot program's launch next month, Financial Times reported. The exchange said the trading scheme would cover 635 industrial and construction companies, accounting for 38% of Shenzhen’s total 2010 emissions.

Li: China to tackle India trade deficit

Thu, 01 Jan 1970 08:00:00 CST

Chinese Premier Li Keqiang addressed concerns about India's trade deficit with China during a state visit Tuesday, pledging to take steps to reduce it, The Wall Street Journal reported. "We understand Indian concerns on trade imbalance," he said, speaking at a trade conference in New Delhi.

North Korea releases Chinese fishing boat

Thu, 01 Jan 1970 08:00:00 CST

North Korea has released a Chinese fishing boat and 16 fishermen after holding the vessel and its crew for two weeks, The Associated Press reported. Armed North Koreans seized the boat May 5, demanding US$97,742 in ransom. After pressure from the Chinese government and outcry from mainland internet users, the crew was released unharmed. The North Korean government's role in the abduction and release was unclear.

China tightens rules on bond market

Thu, 01 Jan 1970 08:00:00 CST

A Chinese finance industry body issued new rules for the bond market on Monday to help eliminate institutions' advantage over retail investors, The Wall Street Journal reported, citing people familiar with the matter. Underwriters must now set rates on short- and medium-term bonds closer to those already on the market, reducing the markup above the issuer's price that underwriters could previously sell the bonds at.

Handling the hot potato

Thu, 01 Jan 1970 08:00:00 CST

The presumed next leader of China’s sovereign wealth fund may look inward for growth