Smugglers' outpost: thousands of Chinese flock to Xintang for hi-tech gadgets

Article Abstract:

Smuggling is booming in China. Durable products such as personal stereos, motorcycles and television sets with a total annual value of about $1 billion have been brought illegally into the country since 1990. Xintang and Panyu, two cities about 20 kilometers south of Canton, have become centers for the illegal sale of goods snuck in from Hongkong. The profitability of selling such goods has enticed many people to join the smuggling business. Economic decentralization and political corruption also contributed to the rise of smuggling, which now makes up about 1/6 of all imports from Hongkong.

Crime, Smuggling

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Great fall of China: renminbi's slide hurts foreign investors

Article Abstract:

Foreign businesses in China have expressed much concern regarding the depreciation of the Chinese renminbi. Particularly hard hit are foreign joint ventures that earn revenues in the Chinese currency. Although many companies have found ways at coping with the situation, huge losses have been reported by foreign investors in B shares. Should the situation take a turn for the worse, observers believe that the Chinese government will most likely prohibit currency swaps in the country.

Evaluation, Economic aspects, Currency swaps, Yuan (China)

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