China's top auditor said Monday that the debts of local governments at provincial, city and county levels exceeded 10 trillion yuan ($1.54 trillion) by the end of 2010.
Liu Jiayi, head of the National Audit Office (NAO), said that only 54 county governments out of more than 2,800 had zero debt.
More than 80 school pupils have been admitted to hospital after inhaling poisonous gas released from a nearby chemical factory, www.gog.com.cn reported today.
According to a teacher from Yucai middle school, Tongzi in Guizhou province, students suffered headaches, choking, chest and stomach pains on Thursday following the leak.
The news comes after 106 pupils from a nearby primary school developed similar symptoms on June 17.
The island’s IPO market has lost some gloss – but big firms still see it as a passport to China
THERE IS a strong scent of luxury in the Hong Kong stock market these days, as global brands queue to list on the Hang Seng, keen to take advantage of the territory’s proximity to the booming China market.
Hong Kong’s shopping precincts have long played host to premium names such as Prada and Samsonite; now these luxury firms are filing initial public offerings (IPOs) here.
Hong Kong was the world’s biggest IPO market last year, raising €40 billion from 87 listings.
Read more: Luxury brands try to bag Hong Kong investors on way to Chinese market
As China prepares to mark the 90th anniversary of its Communist Party on July 1, there are signs of a new ideological struggle over former leader Mao Zedong's legacy.
The conflict is being played out online amid a backdrop of heightened nostalgia for the revolutionary days, as a young leftist takes on an elderly economist who dared to publicly criticize the founder of the People's Republic of China.
It's been nearly 35 years since the death of Chairman Mao, and the official verdict is that Mao was 70 percent right and 30 percent wrong. That assessment is controversial, given the tens of millions of deaths Mao caused through economic mismanagement and political terror.
The heavy rain that hit Beijing on Thursday afternoon has caused flood in low-lying areas and disrupted traffic.
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