Monthly Archives: July 2011
Table of Contents of July 2011
1. Cover story
2. Economy outlook
The 25th Session of China-EU Trade & Economic Joint Committee held in Beijing
3. Financial strategy
Baidu announces second quarter 2011 results
4. Legal spotlight
5. Point of interest
6. Portrait
Xi Guohua was named the new CEO of China Mobile
7. Remark from editor
CPC 90
Following is the full text of the keynote speech made by Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), at a grand gathering marking the 90th founding anniversary of the CPC at the Great Hall of the People on July 1, 2011.
Comrades and Friends,
Today, together with the entire Party and the people of all ethnic groups in China, we are holding this grand meeting here to commemorate the 90th anniversary of the founding of the Communist Party of China (CPC) and also to review the great course of China’s development and progress and look ahead at the bright future of development and prosperity for the country. Continue reading
Filed under Cover story
25th Session of China-EU Trade & Economic Joint Committee held in Beijing
The The 25th Session of China-EU Trade & Economic Joint Committee was held on July 14, in Beijing. Chinese Minister of Commerce Chen Deming and EU Trade Commissioner Karel De Gucht co-chaired the Session.
At the Session, the two sides conducted extensive, in-depth and sincere communication over China-EU trade and economic relations, and exchanged views and reached important consensus on China-EU development cooperation, updating negotiation on 1985 China-EEC Trade and Economic Cooperation Agreement, promoting bilateral investment and high-tech trade, accelerating negotiation on China-EU Geographical Indications Protection Agreement, initiating negotiation on China-EU investment agreement as soon as possible, promoting trade of agricultural products and trade in services, strengthening cooperation on Standards and Conformity assessment, and advancing WTO Doha round negotiations. After the Session, Chen and De Gucht met with the reporters together. Continue reading
Filed under Economy outlook
Baidu announces second quarter 2011 results
Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, announced on July 25, 2011 its unaudited financial results for the second quarter ended June 30, 2011.
Second Quarter 2011 Highlights
Total revenues in the second quarter of 2011 were RMB3.415 billion ($528.4 million), a 78.4% increase from the corresponding period in 2010.
Operating profit in the second quarter of 2011 was RMB1.858 billion ($287.5 million), a 91.2% increase from the corresponding period in 2010.
Net income in the second quarter of 2011 was RMB1.633 billion ($252.6 million), a 95.0% increase from the corresponding period in 2010. Diluted earnings per ADS for the second quarter of 2011 were RMB4.67($0.72); diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2011 were RMB4.77($0.74). Continue reading
Filed under Financial strategy
China’s responses to the WTO Panel Report regarding measures related to the exportation of various raw materials
On July 5, WTO distributed its Panel Report to WTO members concerning the written complaints by the United States, the European Union and Mexico regarding “China— Measures Related to the Exportation of Various Raw Materials”.
This dispute concerns four types of export restraint that China imposes on the export of a number of raw materials. The raw materials subject to the export restraints are various forms of bauxite, coke, fluorspar, magnesium, manganese, silicon carbide, silicon metal, yellow phosphorus and zinc. China is a leading producer of each of the raw materials which are used to produce everyday items as well as technology products. Continue reading
Filed under Legal spotlight
River of wisdom
Accompanied by foreign representatives and Cabinet officials, Taiwanese Premier Wu Den-yih on July 5 viewed an exhibition of “River of Wisdom,” a 3-dimensional animated version of the famed Song Dynasty painting “Along the River during the Qingming Festival” inTaipei, where he stressed the importance of culture and arts to a country.
“A nation marked by peace, prosperity and a thriving culture is what the people long for in any time and place,” Premier Wu remarked. “And the animated version of this painting is a testament to this.” The premier then called on all nations to work together to create a world where human rights are respected and freedom, democracy and culture flourish. Continue reading
Filed under Point of interest
Xi Guohua was named the new CEO of China Mobile
The Board of Directors (the board) of China Mobile Limited (the company) announced that Mr. Xi Guohua has been appointed as Executive Director and Vice Chairman of the company with effect from 26 July 2011.
Mr. Xi Guohua, age 59, is currently the Secretary of the CPC Committee and Vice Chairman of China Mobile Communications Corporation, and a Director and Vice Chairman of China Mobile Communication Co., Ltd. Continue reading
Filed under Portrait
Is railway the safe way?
Cheming Yang
At least 38 people were killed and more than 200 injured by the recent crash of two high-speed trains near Zhenzhou in Zhejiang of mainland China. The cause of this terrible accident is still under investigation. Rumor has it that the first train stalled after being hit by lightening and was rear ended by the second train. There are a lot of questions needed to be answered. Why would a train stall after being hit by lightening? And why the second train could not stop in time? Continue reading
Filed under Remark from editor
GOLD MONEY TALK 