Bon appétit! 🙂 There’s a LOT to digest here…
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By Michael Bristow
BBC News, Beijing
“New figures suggest China could have just overtaken Japan as the world’s second-largest economy.
But how do we know? Can we trust statistics from China, which is not always open and transparent with numbers?
Interviews with market stallholders suggest they do not always declare everything they earn to the Chinese tax bureau.
This implies that China’s economy could be bigger than the government believes.”
VIDEO (a “Must See” – click to play)
By John Simpson
World affairs editor, BBC News
Warren Buffett and Bill Gates to hold charity banquet in Beijing
A charity banquet held by Warren Buffett and Bill Gates gathers together Chinese millionaires in Beijing Wednesday evening.
The dinner named “The Giving Pledge” aims to convince Chinese magnates to donate their fortunes to a good cause.
Attending or not is a question that has been worrying Chinese millionaires since they received their banquet invitations at the beginning of the month. With the event taking place Wednesday night it is time to make the final decision.
Gates and Buffett initiated their joint philanthropic campaign in June
to persuade the wealthiest families and individuals
to commit to giving 50 percent of their wealth.
Reports say more than 40 US millionaires pledged at least 125 billion dollars at the first banquet in the US.
The Gates Foundation’s Beijing branch is hosting the banquet and keeping most of the details under wraps. But we do know the Beijing Chateau Laffitte Hotel, located in the northern suburbs of the city, will be the venue. And a partial list of the attendees has also been disclosed, all of which can be classified as the richest of the rich
Jet Lee, actor
“I think donations can be compared to the prologue of a movie or the first of five scenes in a play. The second is to whom the donation goes to. The third is who will use the money. The fifth is to notify all of society. Currently, all our focus is on the first. I think with such an unperfect system, I won’t choose to donate.”
The China-made CRH380A train hit a maximum speed of 416.6 kilometers per hour — a world train speed record — on its run between the metropolis of Shanghai and Hangzhou, the capital city of East China’s Zhejiang province
Because of railways’ importance to economic development, China aims to expand its high-speed rail network.
By 2012, China will have a railway network of 110,000 kilometers, 13,000 kilometers of which will be high-speed rail, according to the MOR.
The 1,318-kilometer Beijing-to-Shanghai high-speed railway is scheduled to open in 2012. Total investment in the line is estimated at 220.9 billion yuan ($32.5 billion).