Word: mainlanders
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...British Governor in the late 1980s. Now he will have to prove he can navigate the bulky $316 billion Asia-Pacific arm of the London-based HSBC Holdings into a booming banking frontier: China. In 2001 the bank became the first foreign commercial bank to buy into a mainland counterpart since the 1949 communist takeover, and it is now the largest foreign financial institution there. But it is limited by regulation to owning just a minority stake in two mainland banks. One of Cheng's goals is to encourage Beijing to relax foreign-ownership regulations, part of a broader effort...
...This item should not contain forbidden speech such as profanity. Please enter a different word for this item." ERROR MESSAGE appearing on the mainland Chinese version of Microsoft's MSN Spaces blog site when a user enters words such as "democracy," "freedom," "human rights" or "Taiwan independence." A Microsoft spokesperson said the company is abiding by Chinese laws...
...goods Wal-Mart sells in the U.S. left American shores long ago, mainly for other countries in East Asia--Taiwan, Hong Kong and South Korea. Only about 10% of the firm's purchases from 2,500 suppliers in China today come from companies owned on the Chinese mainland. Andrew Tsuei, managing director in charge of Wal-Mart's global-procurement operations, says the rest come from longtime suppliers in other parts of the world that have moved their manufacturing to China in search of lower costs. That means Wal-Mart's China trade may indeed be eliminating factory jobs...
...China's state-owned jet-fuel importer, China Aviation Oil; with 15 counts including insider trading, forgery and failing to disclose losses, along with four other executives; in Singapore. The company, which enjoys a monopoly on buying fuel on the world market and selling it to customers in mainland China, lost $550 million last year speculating in derivatives linked to oil prices. According to an investigation commissioned by the Singapore stock exchange, Chen and his top executives concealed the losses from investors for much of last year...
...brief period of loosened media controls and a freer environment for ideas that gave rise to 1989's democracy demonstrations. When Zhao was purged in the wake of the Tiananmen Square massacre, Rui was demoted and never regained his earlier stature. His death has not been reported by mainland Chinese media...