The Communist Party can’t wait to see the back of Gary Locke, the outgoing U.S. ambassador who ruffled many a feather during his two-plus years in Beijing. The 1.2 billion Chinese who aren’t party members should be begging him to stay.
Formosa Plastics Group, Asia’s largest chemical producer, is seeking U.S. permits for a $2 billion expansion of its Texas operations as cheaper natural gas prices make U.S. production more competitive.
China’s planned economic reforms are burnishing the yuan’s credentials as a currency of global trade, pushing its offshore rate to the highest versus its domestic value in 10 months while damping volatility.
Jonathan Lu’s first job after college wasn’t what he’d envisioned -- stuck at the reception desk at a Holiday Inn in Guangzhou, China. He had forgotten to fill out a page of his university entrance exam and instead of architecture school, he ended up in a hotel management program.
Chinese President Xi Jinping put his most personal stamp yet on sweeping policy shifts in the world’s second-largest economy, ushering the end of a decade of consensus-based decision-making that saw reforms stagnate.
In the biggest expansion of economic freedoms since at least the 1990s, China’s leaders vowed to expand farmers’ land rights, loosen the one-child policy and encourage private investment in state businesses.