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Jiayu Pass: great pass under heaven(2)
2007-10-19
It is said that the towers were made from the top to bottom. The workers first piled up an enormous heap of earth, and once they were able to construct the top of the tower, they dug away some of the earth to build the third floor, the second and then the first floor.
Outside the eastern outer court, we saw three historic buildings: the theater platform which was built in 1792, a temple... -
UN report: HK a "front-runner" economy
2007-10-19
HONG KONG, Oct. 17 (Xinhua) -- Hong Kong has retained its position as Asia's second largest destination for foreign direct investment (FDI), according to a report released on Wednesday by the United Nations Conference on Trade and Development.
The report, named World Investment Report 2007, highlighted Hong Kong as a "front-runner"... -
Nike Expects $1 Billion China Sales in Year
2007-10-19
Nike Inc sales in China are growing at over 50 percent annually and will reach $1 billion within a year, making the mainland its second largest market globally, Chief Executive Mark Parker said on Thursday.
Nike, the world's largest athletic shoe and clothing maker, opened its company-owned flagship store in Beijing two months ago and said it would soon establish a studio in China to de... -
China Port city sets big targets
2007-10-19
Lianyungang in East China's Jiangsu Province expects a local carbon fiber maker to become the world's largest by 2010, said the city's Party secretary Wang Jianhua.
The port city also aims to build Asia's largest base for producing wind power blade by then, said Wang, a delegate from Jiangsu attending the 17th National Congress of the Communist Party of China. -
PBOC: Market to Determine Exchange Rate
2007-10-19
China's central bank governor Zhou Xiaochuan speaks during a news conference in Beijing October 18... -
Special Report: 17th CPC National Congress
BEIJING, Oct. 18 (Xinhua) -- The Export-Import Bank
of China (China Exim Bank) said on Thursday there is still no timetable for it
to go public.Plans to restructure the policy bank into a
commercial one are still under discussion before they are to be finalized by the
People's Bank of China, said Li Ruogu, governor of China Exim Bank, at a press
briefing on the sideline of the 17th National Congress of the Communist Party of
China.Even after its commercialization, the bank will still
work to promote foreign economic cooperation. "We won't turn to domestic
railway, road or real estate projects," Li said -
Market to determine exchange rate
2007-10-19
The market will play a bigger role in determining the exchange rate of the yuan and eventually make it fully convertible, the country's top banker said yesterday.
"Supply and demand forces in the market will play a bigger role in setting the yuan's rate," Zhou Xiaochuan, governor of People's Bank of China (PBOC) said on the sidelines of the Party congress.
Talking about recent complaints from European countries over the renminbi exchange rate, Zhou said worries may arise from the rapid increase in China's trade surplus with EU. He also cited the weakening dollar, which has exerted upward pressure on the euro's value, before expressing his sympathy for those affected.
A vice-governor of PBOC will meet EU's central bankers to discuss their concerns at the International Monetary Fund and World Bank meetings in Washington next week, he said.
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