Shanghai (AFP) Feb 18, 2009Across China, communist party officials are handing out millions of food, shopping, and cinema coupons in an effort to get people to go out, have a good time and spend, spend spend. Chinese people are among the world's most determined savers, with economists estimating they put away 30 to 40 percent of their disposable income, but a virtue can be an obstacle when trying to jump-start the eco ... more
Chinese group targets poor with 40-dollar solar phone
Barcelona, Spain (AFP) Feb 18, 2009Chinese group ZTE unveiled the world's first low-cost solar-powered mobile phone targeted at the world's poor on Wednesday, which is to go on sale in June for under 40 dollars (32 euros). ZTE has partnered with emerging market network operator Digicel, which is to launch the device in Haiti, Samoa and Papua New Guinea and believes sales in the first year will reach "several hundred thousand. ... more
Chinese concerns emerge over US stimulus plan: state media
Beijing (AFP) Feb 18, 2009Concerns are flaring in China that the huge US stimulus plan could hurt dollar-denominated assets, with some observers urging China to cut US Treasury holdings, official Xinhua news agency said Wednesday. Increased borrowing by the United States to fund the 787-billion-dollar stimulus package that President Obama signed into law Tuesday could lead to a record US deficit that hits Chinese-hel ... more
China says to support IT and electronics sectors amid downturn
Beijing (AFP) Feb 18, 2009China said on Wednesday it would boost its electronics and computer sectors with trade financing, credit guarantees and continued export-tax rebates to help them weather the global financial crisis. However, a government statement on the decision offered no specifics on policy steps under the plan, one of several announced recently to help domestic industries cope with falling foreign orders ... more
