Some Eye-Opening Headlines From China

china yacht violin

Photo: China Daily

A quick perusal of ChinaDaily yields some eye-opening headlines this evening.

  • Fast Growth Of Economy Fuels Rise In Wealthiest: The number of mainland Chinese millionaires is nearly 1 million. Of these 20% are int he property business, and 15% are described as “stock gurus.”
  • 9M Yuan For Bottle Of Moutai: This is along the crazy wealth lines. At an auction, someone bid nearly $1 million for an old bottle of liquor.
  • Property Developers Feel Pinch Of Tightened Belt: Cash flow for listed property developers is plunging.
  • New Rules Likely To Raise Prices Of Rare Earths: Stricter environmental laws are coming August 1.
  • Counterfeit Products Hit By Raids: Just as the title says. A huge raid on counterfeit goods.

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