ARE YOU READY FOR THE RMB RUMBLE?

The domestic banking sector will go no-holds barred soon as China opens its renminbi retail business to foreign banks On March 21, four overseas banks, including Hong Kong and Shanghai Banking Corp. (HSBC), Citibank, Standard Chartered Bank and Bank of East Asia got the nod from the China Banking Regulatory Commission(CBRC) toincorporatelocally, enabling them access to the renminbi retail sector. Service is expected to begin in April     

Catching Up Peacefully

The most fundamental change in the world economy over the past 40 years has been China, which is effectively catching up in a smart, normal, peaceful and rule-based way, said Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University and senior United Nations advisor, during a keynote speech at an event co-hosted by the China General Chamber of Commerce-USA and the Standard Chartered Bank in New York City on May 2.     

The 'Double Dip' Terror?

Fears over a "double dip" recession of the world economy have become more abundant recently,but the scare is not unfounded-certain economic risks may be inevitable.But what are these risks? And where is the world economy heading in the second half of this year? The latest Standard Chartered Global Focus,a monthly analysis of economic and financial market developments by Standard Chartered Bank,provided answers to these questions.     

CRISIS FOCUS:The‘Double Dip’Terror?

Fears over a double dip recession of the world economy have become more abundant recently,but the scare is not unfounded—certain economic risks may be inevitable.But what are these risks? And where is the world economy heading in the second half of this year? The latest Standard Chartered Global Focus,a monthly analysis of economic and financial market developments by Standard Chartered Bank,provided answers to these questions.Edited excerpts follow     

"The Red Shoes" Captures Imagination in China

In January 2002, one of the most highly original contemporary Brit ish theatre companies, Kneehigh Theatre, toured Beijing and Shanghai with their thrilling performance of "The Red Shoes". Presented by the British Council, which operates in China as the Cultural and Education Section of the British Embassy, together with the Centre of International Cultural Exchange in Beijing, and the Shanghai Dramatic Arts Centre in Shanghai, this powerful visual     

Morcheeba Sets to Groove in China

The British Council is pleased to an nounce the upcoming tour of one of the hottest UK bands of the minute - Morcheeba - who will perform in Chongqing, Beijing, Shanghai, Guangzhou and Shenzhen in March 2003, sponsored by Virgin Atlantic Airways.Morcheeba's China tour is another major event of Think UK, which will bring the best of British originality, creativity and innovation to China in 2003, with a series of high profile events, new exhibitions and other exciting activities running through the year.Morcheeba first ambled onto the hip UK music scene with their chilled-out debut single "Trigger Hippie" in 1996. Their first album, "Who Can You Trust?", established them as promising newcomers; tagging along on the     

Through the Silk Road on a Heritage Train

SEPTEMBER 2001, our journey begins in the British suite of the elegant Peace Hotel, Shanghai.The Peace Hotel is a treat. The patina of the place gets into your bones and evokes memories of movies and books dealing with life in the 20's, history in the mak…     

FEAST FOR THE EYES

<正>A Tang Dynasty(618-907)tomb pottery figure from the British Museum is examined on February 15 at the National Museum of China in Beijing.The artifact is one of 100 objects from the British Museum that will comprise a public exhibition opening in China’s capital on March 1.     

Economy

正Shanghai International Gold Trading Center Starts Operation The Shanghai International Gold Trading Center was recently launched as the first international trading platform in China(Shanghai)Pilot Free Trade Zone(FTZ).The Shanghai FTZ is also preparing to establish other international trading centers.In the Shanghai gold trading center,foreigners are allowed to invest in China’s gold market.According to Li Jun,deputy secretary-general of the Shanghai     

THE MARKETS

Full Mark in 2012 On March 4,Standard Chartered PLC announced the 10th consecutive year of income, profit and dividend growth. With operations in many of the world’s most dynamic economies,the company now has 26 markets delivering over $100 million of income. Total group income was up 8 percent to $19.07 billion. Performance in African and Chinese markets was particularly strong.Business income from the Chinese mainland has exceeded $1 billion for the first time. The Greater China region is growing strongly.Hong Kong Taiwan and the mainland registered $4,9 billion in income,nearly one     

MARKET WATCH

TO THE POINT:The Chinese Government raised refined oil prices for the first time in 10 months after shortages of gasoline and diesel were exposed.The Chinese over-the-counter derivatives trade bloomed in the first three quarters and the debut of forward rate agreement trading starting on November 1 is likely to add fuel to the market.Following HSBC,the London-based Standard Chartered Bank decided to set up its first village bank in rural China with Inner Mongolia as its first choice. The Bank of Communications became the first Chinese commercial bank in history to invest in a trust company, and much more such alliances are expected in the future. Meanwhile,by the end of October,all listed companies in the mainland yuan-denominated A-share market had issued their quarterly reports.Finally,we also look at the iron and steel sector in this issue with highlights from the top three steel companies' reports.     

Treasures on Show

Tennis is becoming more popular in China but there are still worries facing the sport 0ctober was a happy time for the sport of tennis and tennis fans in China. The China Open in Beijing,the 2010 Shanghai Rolex Masters and the China Tennis Grand Prix in Nanjing,Jiangsu Province,all take place.     

A Historic Visit

British Minister of State for Foreign and Commonwealth Affairs Ivan Lewis' shuttle diplomacy is helping the West to better understand Tibet The first-ever visit by a British min- ister to the Tibet Autonomous Region (TAR) this September raised little comment in the UK. Neither The Guardian, nor the BBC, both of which have extensive coverage of issues in China, mentioned the     

Better Rails, Better Life

The China Railway Pavilion showcases the development and future of China’s impressive railway network At the ongoing World Expo in Shanghai, the China Railway Pavilion is one of the technological masterpieces stunning the visitors.     

Embracing the 2015 China-U.K. Year of Cultural Exchange

IT was during Chinese Premier Li Keqiang’s visit to the U.K.in June 2014 that the two countries mutually agreed to make 2015 the year of cultural exchange.The news soon came that Prince William,Duke of Cambridge,would travel to Shanghai in March 2015,to open the GREAT Festival of Creativity,which supports British businesses looking for opportunities and growth in China.More than 500 world leading British companies in innovation,technology,design,film,education,healthcare,and luxury goods will attend the festival.In an interview with China Today,Minister(Culture and Education),China Director of the British Council,Carma Elliot CMG OBE expressed her expectations of the big event.She regards it as an opportunity to promote U.K.-China relations and people-to-people links.     

Tunnel Vision Begone

正Through expert eyes: why and how the CPC works in China The city of Shanghai is where the Communist Party of China(CPC) first embarked on its 100-year-long voyage. The Memorial for the Site of the First National Congress of the CPC in Shanghai, and the replica of the red boat, where the meeting announcing the founding of the CPC was concluded on Nanhu Lake of Zhejiang Province,     

Studying in the United Kingdom

The United Kingdom is among the world leaders in recruiting international students.Joanna Burke,Cultural Counselor in the Cultural and Education Section of the British Embassy in China,recently spoke about international students,especially Chinese students in the United Kingdom,with Beijing Review reporter Wang Hairong.     

OLD BUILDINGS, NEW LIFE

As Shanghai modernizes by building shiny skyscrapers, it is also preserving historic architecture The 2010 World Expo in Shanghai is almost as significant to China as the 2008 Olympic Games in Beijing, and after years of hard work, the city has entered a busy period of preparation for this event in four years' time. Known as the Paris of the Orient,     

SOCIETY

<正>Lighting Up the New Year Visitors view the lanterns during a trial display of a lantern fair in Yuyuan Garden in Shanghai on January 13.The fair in Yuyuan Garden,one of China’s national intangible cultural heritages,is a key cultural event in Shanghai during the Spring Festival.Beijing to Cap Population Beijing is on course to cap its     

REACHING A NEW ZENITH

正A quantum satellite at the Shanghai Engineering Center for Microsatellites under the Chinese Academy of Sciences in Shanghai on May 25.China plans to launch the world’s frst quantum satellite in July,which can achieve secure communication.The satellite is dedicated to performing quantum science experiments.