Word: shanghaies
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...Coping with Competition But that doesn't mean Hong Kong's future as Asia's preeminent financial center is assured. Singapore in recent years has boosted its banking sector. Shanghai is booming. And even Seoul aspires to be a financial hub. Faced with these long-term competitive threats, Hong Kong's leaders are laying the groundwork for even closer links with China. In August, a local think tank with ties to the city's top political leadership released a proposal for increasing economic integration with Shenzhen, the Chinese boomtown located next to Hong Kong. A mere fishing village when...
...Although the Chinese government is also trying to nurture stock markets in Shanghai and Shenzhen, Beijing still views Hong Kong as crucial because it offers an entrée to the outside world. China's capital markets, largely closed today, are being gradually opened, meaning ordinary citizens will eventually be free to invest some of their wealth outside the country - with Hong Kong, which is a Special Administrative Region of the mainland, as the likely first stop. Beijing last year proposed a new program, nicknamed "the through train to the Hong Kong stock exchange," that would allow individual Chinese...
...either: In June, authorities blocked access to an online video apparently showing drunk police officers in Henan province beating up a college girl that had been posted to several major video-sharing websites. And this week, mobile phone videos showing hundreds of people protesting against a proposed extension of Shanghai's maglev train line have appeared on YouTube as well as on mainland web portal Sina.com...
...CCID Consulting, a leading Chinese IT firm. Tudou.com, China's largest video sharing website, serves more than a billion minutes of video per day, some 30% more than YouTube. "People spent twice as long on Tudou than on YouTube ," says CEO Gary Wang, who founded the company in Shanghai in 2005. "They really get in and get stuff they don't typically...
...Some analysts, however, say that clause violates current laws by ignoring China's existing Administrative Licensing Legislation, fueling speculation that the ruling may not be fully enforced. "I don't think the detailed rules will ever be published," says Zhao Fujun, a researcher on Internet issues for the Shanghai Bar Association. "The government just wants to show its power over the industry." Indeed, Chinese authorities are in an awkward situation regarding video sharing: while they want to continue to act as gatekeepers for what ordinary Chinese can see and do online, they don't want to risk alienating the foreign...