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Cooperation Pacts Signed with the EU
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| The 7th China-EU summit has resulted in a number of cooperation agreements being signed. The EU's high representative for common foreign and security policy also said he expected the embargo on arms sales to China to be lifted in the first half of next year, despite opposition from human rights groups. |
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Ship Collision Creates China's Largest Oil Spill
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| The biggest oil spill in the history of the PRC started when two containerships collided Tuesday evening near the mouth of the Pearl River in the South China Sea. Some 450 tons of oil leaked from one of the ships, creating a slick 17 kilometers long and up to 200 meters wide. The leak has been blocked and crews are working to contain and clean up the spill. |
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Lenovo Buys IBM's PC Unit
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| Lenovo, China's largest personal computer maker, announced on Wednesday it is buying control of IBM's personal computer business. Lenovo will pay US$650 million in cash while IBM takes an 18.9 percent stake in the Chinese company in the deal. In a reshuffle among top management, current CEO Yang Yuanqing will become Lenovo's new chairman while IBM's Stephen M. Ward, Jr., takes the reins from Yang. |
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Schroeder Visits Old Industrial Belt
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| The German chancellor arrived in Changchun Tuesday to attend the opening ceremony of the 2nd FAW-Volkswagen factory. Before flying there, he met with President Hu Jintao and top legislator Wu Bangguo, and attended the Sino-German Economic Cooperation Forum in Beijing. |
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Sichuan Gas Explosion Kills 2, Injures 61
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| Two are still missing after a gas explosion that killed 2 and injured 61 in a tunnel in Wenchuan County Tuesday afternoon. The first ten patients to arrive at Sichuan Provincial People's Hospital were in a critical condition. |
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China Bans Nike TV Ad for Cultural Disrespect
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| China has banned a Nike TV ad that depicts NBA star LeBron James defeating a kungfu master, two women in traditional Chinese attire and a pair of dragons. The State Administration for Radio, Film and Television stated that the commercial violates regulations requiring that all advertisements in China uphold national dignity and respect the motherland's culture. |
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China, Germany Sign Agreements
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| Premier Wen Jiabao and the German chancellor attended a ceremony at the Great Hall of the People in Beijing Monday evening, at which a number of agreements on cooperation between the two countries were signed. |
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Macro-Control of Economy to Continue
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| At the closing of the annual central economic conference Sunday, the government announced that it will continue to prioritize macroeconomic control next year to maintain steady and coordinated development. The 11th Five-Year Plan (2006-2010) is due to be drafted next year. |
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White House: China Does Not Manipulate Currency
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| The US government said Friday that neither China nor any other major trading partner of the US is violating a US law against currency manipulation to gain unfair trade advantages. |
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Landslide Kills 23, Traps 21 Villagers
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| A landslide left 21 villagers missing on Friday in the southwestern Chinese province of Guizhou after rescuers pulled 23 victims from toppled houses. |
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