China says funds for high-speed link embezzled

China’s state auditor said Wednesday that millions of dollars in funds for the construction of a high-speed railway linking Beijing and Shanghai were embezzled last year. The revelation follows last month’s sacking of railways minister Liu Zhijun, who allegedly took more than 800 million yuan ($122 million) in kickbacks linked to contracts for the expansion of China’s high-speed rail network. Some construction companies... [more]

China ‘blocking Gmail service’

Google has said the Chinese government is interfering with its email services in China, making it difficult for users to gain access to its Gmail programme. Google said its engineers have determined there are no technical problems with the email service or its main website. “There is no technical issue on our side; we have checked extensively. This is a government blockage carefully designed to look like the problem is with Gmail,”... [more]

China to execute 4 over Xinjiang killings

A government-run website says Chinese authorities have approved the executions of four men convicted of terrorist violence in the restive western region of Xinjiang. The four are accused of killing nine people and injuring 15 in three different incidents between August and November of last year. In the most serious incident, six men detonated a homemade bomb near where a security patrol was forming up, killing eight people including three... [more]

China calls for unrest to be defused after “Jasmine” revolt

China’s domestic security chief said the government must find new ways to defuse unrest in a fast-changing society, underscoring Beijing’s anxiety about control even after police squashed weekend calls for gatherings inspired by Middle East uprisings. Zhou Yongkang, the ruling Communist Party’s top law-and-order official, told cadres they had to “adapt to new trends and imperatives in economic and social development,”... [more]

Arrests after China web users call for protests

Several top Chinese rights activists have disappeared into police custody as a web campaign urged angry citizens to mark the Middle East’s “Jasmine Revolution” with protests, campaigners said Sunday. Up to 15 leading Chinese rights lawyers and activists have disappeared since Saturday amid a nationwide police mobilisation, according to activists, while the government appeared to censor Internet postings calling for the... [more]

German finance minister sees good chance of G20 deal

A Group of 20 meeting on Saturday has a “good chance” of breaking a deadlock over which indicators to use to measure global economic imbalances, German Finance Minister Wolfgang Schaeuble said. Schaeuble also said Germany was backing French proposals to work on increasing transparency in commodity markets and for implementing a financial transaction tax — something they will put again to the group of leading economic powers. “I... [more]

China rejects key G20 imbalance indicators

China rejected plans to use real exchange rates and currency reserves to measures global economic imbalances, casting doubt on the ability of Group of 20 major economic powers to reach agreement at a meeting on Friday. Speaking shortly before the start of the two-day meeting of finance ministers and central bankers, Chinese Finance Minister Xie Xuren also said the G20 should use trade figures rather than current account balances to assess... [more]

Envoy who may aim for White House presses China on rights

The U.S. ambassador to Beijing, who is sizing up a run for the White House, stood outside a Chinese court on Friday and criticised it for rejecting the appeal of an American jailed on industrial spying charges. It was the second time in recent days that Jon Huntsman, a former Republican governor of Utah who will soon leave his job in Beijing, has sparred with China over rights. “I’m extremely disappointed in the outcome, although... [more]

France mulls ditching $ as sole reserve currency

France, as current head of the Group of 20 countries, will help the transition to a global financial system based on “several international currencies,” French Economy Minister Christine Lagarde said on Monday. Lagarde, speaking ahead of a G20 finance ministers meeting here on Friday and Saturday, said the world had to move on from the “non-monetary system” it now has to one “based on several international... [more]

US companies want share of China’s new year sales

Producers of American food and drink have discovered an antidote for post-holiday sales blues in the United States: China’s huge, gift-laden celebration of its new year. The 15-day celebration, known as Chun Jie, or Spring Festival, is China’s biggest holiday and a time to gather with relatives, feast and give gifts. Food, clothing and money are traditional presents, but a growing number of Chinese — especially the booming... [more]

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