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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