Not-So-Desperate Housewives

After equally dividing community property with her husband, a housewife in Fujian Province received an additional 550,000 yuan ($85,000) in "household labor compensation." The verdict was made by a local court in July. It is one of several cases nationwide that saw housewives receive divorce compensation for additional domestic duties this year, thanks to an article in China's Civil Code, the civil law promulgated last year that went into force on January 1. The woman in this particular case, who had married to her husband for more than 20 years, obtained higher compensation than other such cases earlier this year, in which the housewives got between 15,000 yuan ($2,320) and 120,000 yuan ($18,550).     

Album of Classical Landscape Paintings

Name and Specifications: Album of Classical Landscape Paintings by Wang Jian of the Qing Dynasty (10 Pages). Format: 28.8 cm x 21,3 cmMarket Value: Its pre-sale estimate having been fixed at 1.4-1.8 million yuan (US $160,000-200,000), the album actually sold for an incredible 12.65 million yuan (US $1.52 million) at the China Guardian Auctions Company autumn 2004 auction.Wangjian and His Paintings: Wangjian (1598-1677) was a renowned painter of the early Qing Dynasty. Having passed the imperial examinations at provincial level in 1633, the Ming imperial court appointed him prefect of Lianzhou. When Qing     

From Passive Actor to Active Leader

The closing ceremony of the Fourth China International Import Expo (CIIE) took place in Shanghai on November 10. As the world's first dedicated import exhibition at the national level, the CIIE serves as an important platform for international purchasing, investment promotion, cultural exchanges and cooperation. The Fourth CIIE coincided with the 20th anniversary of China's accession to the World Trade Organization (WTO). The past two decades have seen China's economic aggregate jump from about 10 trillion yuan ($1.54 trillion) in 2001, to more than 100 trillion yuan ($15.4 trillion) in 2020, while its total foreign trade leapt to $4.6 trillion from $500 billion during the same period.     

Putting Perspective on China's Defense Spending

The Second Session of the 11th National People's Congress an-nounced in March that China's 2009 defense budget is 480.686 billion yuan($70.7 billion),increasing by 62.482 billion yuan($9.2 billion),or 14.9 percent,over the previous year.On March 16,Beijing-based Guangming Daily published an interview with Quan Linyuan,a professor at the University of National Defense of the People's Liberation Army and Chen Xiaojing,a doctoral candi-date there,who both shared their perspectives on the increase of China's mi...     

Back to Expansion

China’s economy rebounds despite headwinds triggered by COVID-19 Recovering from the contraction caused by the novel coronavirus disease(COVID-19)epidemic,China’s economy saw a better-than-expected performance in 2020.The GDP expanded 2.3 percent year on year to101.59 trillion yuan($15.6 trillion),exceeding the100-trillion-yuan($15.42 trillion)mark for the first time.The per-capita GDP exceeded$10,000for two consecutive years,narrowing the gap with high-income countries,data from the National Bureau of Statistics(NBS)showed.     

MARKET WATCH

Funding Retirement State shareholders had transferred nearly 65 billion yuan($9.5 billion)worth of stocks in listed companies to the Social Security Fund(SSF)by March 29,according to a statement from the SSF.     

BRICS Go for Gold

正With contracts for 28 projects worth some 13.4 billion yuan($2.1 billion) signed, an innovation base for BRICS partners on the new industrial revolution was unveiled to the public in Xiamen, Fujian Province, on September 7. The announcement took place at a forum on the sidelines of the 21 st China International Fair for Investment and Trade, running from September 8 to 11.     

A Strong Start

正China's economic performance in Q1 recovered pre-pandemic levels Recovering from the lows caused by COVID-19 last year, China's economy grew 18.3 percent year on year to 24.93 trillion yuan($3.82 trillion) in the first quarter(Q1) of 2021. According to data released by the National Bureau of Statistics(NBS) on April 16,     

Cash Injection Boosts The Real Economy

正The cash amount that should be reserved for Chinese financial institutions,or the reserve requirement ratio(RRR),was lowered by 50 basis points starting July 15,excluding those that have already held the ratio at a low level of 5 percent. The measure,part of the financial sector's efforts to support the real economy,would release about 1 trillion yuan($154.24 billion) in long-term liquidity,the People's Bank of China(PBC),the central bank,said.     

KEEPING IT NEUTRAL

Yang Zhongyong, a farmer in Anji, a county known as the Kingdom of Bamboo in Zhejiang Province, would never have dared to imagine making money out of "thin" air. But this actually became a reality through the bamboo forest he had grown. At the price for carbon quotas announced at China's national carbon market in Shanghai on its opening day of July 16, Yang stood to gain more than 370,000 yuan ($57,831) from the carbon emission trading of his bamboo forest.     

MARKET WATCH

While the stock markets regain their momentum this year,China's securities regulators have issued new rules for public list-ings of start-up enterprises.Chinese fund management firms had their most difficult year on record in 2008,losing a total of 1.5 trillion yuan($219 billion) because of the meltdowns in the domestic stock markets.The country's central bank is sticking to its appropriately accommoda-tive monetary policy by refraining from withdrawing cash from the open market and issuing fewer central ba...     

MARKET WATCH

Auto Boom China's auto market continues to thrive,though the sales boom is losing some shine.     

MARKET WATCH

Property Market Home prices in 70 large and mediumsized Chinese cities rose by 12.4 percent year on year in May,said the National Bureau of Statistics.It was only 0.4 percentage points lower than the record high growth rate in April.     

MARKET WATCH

China has toppled the United States from its decadeslong position as the world’s largest auto market for the second consecutive year. New yuan-denominated loans, totaling 7.95 trillion yuan ($1.2 trillion) in 2010, indicate mounting inflationary pressures. China’s foreign trade recoups strength, with both imports and exports hitting record highs in December 2010. Chinese steelmakers reel from skyrocketing iron ore prices. The Purchasing Managers Index for the non-manufacturing sector rebounds as the service sector picks up steam.     

MARKET WATCH

Chinese service outsourcing providers defy the eco-nomic downturn to put their resources into high gear.Private sector investments are also on the rise,boding well for a longer-term upturn in the broader economy.Restructuring in the steel-making industry abounds as the Shandong Iron and Steel Group agree to merge with the Rizhao Steel Holding Group Co.Ltd.The Ministry of Finance is set to float 6 billion yuan($878 million) of renminbi sovereign bonds in Hong Kong to push forward internationalization of the ...     

MARKET WATCH

As a supplement to this issue's cover story, Market Watch takes a quick look at the rest of the industries that the Central Government seeks to revitalize. They include the light, petrochemical, nonferrous metal and logistics industries. The budget deficit this year is expected to hit an all-time high of 950 billion yuan ($140 billion) in the wake of massive tax cuts and increased government spending. In the first month of this year, the amount of loans issued by banks reached a record high in accordance wi...     

Domestic Service: A Waste of Talent For Prestigious University Grads?

Recently, a piece of information posted by a Shanghai-based domestic service agency on a social media platform has garnered much attention. It reads that a Tsinghua University graduate applied for the position of domestic housekeeper with a monthly salary of 35,000 yuan ($5,400). The agency also reveals that it is not a small number of graduates from prestigious universities who have taken on domestic service jobs.     

A Leisurely Holiday

正Tourism industry shows new trends during National Day holiday China's tourism industry showed strong momentum during the National Day holiday, which lasted from October 1 to 7. According to the Ministry of Culture and Tourism(MCT), the country's tourism revenue reached 389 billion yuan($60 billion) during the period, 59.9 percent of that over the same period in 2019,     

MARKET WATCH

A greener China means additional business opportunities for Siemens Green is in.And green technology is set to become the next cash cow for major appliance,automobile and     

MARKET WATCH

National Economy in 2009 Last year was one of the most difficult periods for China's economic development in the new century.