»Bank of Beijing recorded a 33.47 percent year-on-year increase in the first half net profit to 3.9 billion yuan, it said Sunday.

»Operating income was 7.376 billion yuan in the first six months, up 31.92 percent from a year ago. Earnings per share reached 0.63 yuan in the first half.

»The bank’s non-performing loan ratio reached 0.76 percent as of the end of June, down 0.26 percentage points from the beginning of the year.

»Shanghai Pudong Development Bank (SPDB) said its half year net profit rose 33.92 percent from one year earlier due to lending boom and increased commission fees.

»Net profit for the January ~ June period hit 9.08 billion yuan ($1.34 billion) and operational revenue climbed 36.42 percent to 22.75 billion yuan during the same period.

»Earnings per share were 0.791 yuan, up 20.21 percent year-on-year.

Huang Guangyu's conviction and 14-year jail prison term was upheld Monday and his wife Du Juan was freed on parole.

A Chinese court on Monday upheld a retailing tycoon’s conviction and 14-year prison term and freed on parole his wife Du Juan, also former head of Gome as the Huang’s family struggles to retain control of the appliance giant.

The air crash of August 24th , 2010 put an end to the proud 2,102-day flight
safety record of the CAAC (Civil Aviation Administration of China). The general
manager of Henan Airlines Co. Ltd, owner of the flight VD8387, has been relieved
of his post. It is suspected that the causes of this crash may include
deficiencies in the ground navigation equipment and the instrument landing
system; the failure of the altimeter; the poor physical state of the pilots; and
the wind conditions during landing.

Encumbered with its investment in 3G technology, China United Telecommunications Co. Ltd. (Unicom) again saw steep declines in profits, which recently reached a record low. It has invested enormously in the initial operation of 3G, paying for operating costs, administrative costs, and TV and internet advertisements. This huge investment has not immediately resulted in large profits. It is said that the main reason is that Unicom has not targeted a wide enough market.

China has entered a period of intensive conflicts in labor relations, focused around the issue of profit distribution. In the years since the official implementation of the Labor Law in 1995, China has been establishing the mechanism of collective consultations. However, the other laws matching it, such as the Labor Contract Law, do not mandate compulsory force on collective contracts or collective consultations on wages, which weakens the implementation of the two mechanisms.

The tighter their controls on risk in banks, the more frontier police the regulators will need.

By Howard Davies

If systemic risk can cause this kind of cascading sequential imbalance, then the “sovereign” needs to be alert, competent at identifying rising systemic risk, and able to take corrective action early.

By Michael Spence

Reshaping the US health-care system to focus on successful outcomes and quality of life, rather than on employing the newest and most expensive technology, is a challenge for which no one yet has a proven solution.

By Simon Johnson and James Kwak

Two years after the outbreak of the financial crisis, Caijing reporters go to the centre of the financial storm - the United States, and interview the elites in Wall Street, namely Morgan Stanley's Chairman John Mack, the genius in finance George Soros, the initiator of Bridgewater Associates Ray Dalio, and JP Morgan's senior managers, listening to their thoughts and perspectives of the financial development.