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STATISTICS

Chinese Automobiles Exceed 18 Million in Production and Sales in 2010

According to the China Association of Automobile Manufacturers, the production capacity of Chinese auto manufactures reached 18.3 million, a 32 percent year on year increase. Chinese auto sales reached 18.1 million in 2010, a 32 percent year on year increase.

Caixin Online | 2011-01-12

STATISTICS

Record Profits for State-owned Enterprises in 2010

According to the SASAC, China's COEs gained a combined profit of 800 billion yuan in 2010. Locally controlled state-owned enterprises gained 270 billion yuan in profits. SOEs under the control of national provinces, municipalities, and autonomous regions reported a net profit of 270 billion yuan and accumulated revenue of 8 trillion yuan, a 38 percent increase from the previous year.

Beijing Youth Online | 2011-01-12

PROTESTS

Zhengzhou Taxi Drivers Go on Strike to Protest Overtime

To protest the government decision requiring them to work Sundays, taxi drivers in Zhengzhou City in Henan Province went on strike on January 10. The Zhengzhou government has sent thousands of police to monitor the strike and force protestors to return to work.

The Beijing News | 2011-01-12

FINANCE

Ministry of Foreign Affairs Denies Chinese Connection to Leaks at Renault S.A.

The Ministry of Foreign Affairs has denied any connection between the Chinese government and last week’s espionage incident at Renault S.A. Some in the French media have expressed suspicions of Chinese involvement. The French government has so far refrained from accusing foreign governments.

China Finance Information | 2011-01-12

ENERGY

Linzhou City Stops Residential Heating to Meet Conservation Targets

To meet its annual targets for energy conservation and carbon reduction, Linzhou City in Henan Province stopped heating the homes of its citizens for six days. The current temperature in Linzhou is 10 degrees below zero. The local government gave refunds for heating fees and encouraged residents not to report the incident to higher levels of government.

The Beijing News | 2011-01-12

CENTRAL BANK

Central Bank Confirms Currency Shortage

Ma Delun, deputy president of the central bank, said in an article that the People's Bank of China is under pressure to issue more yuan notes and tackle counterfeiting operations. Ma insists that although demand for the yuan has grown 20% year on year, the printing of the yuan has not kept pace.

China News Service | 2011-01-12

TRAFFIC ACCIDENT

Traffic Accident in Henan Claims 16 Lives

16 people died in a severe traffic accident in Xuchang City of Henan Province this morning. Wang Dezhou, deputy director of the provincial public security bureau, is currently working on-site. An investigation into the cause of the accident is underway.

People's Daily Online | 2011-01-12