摘要
The Chinese Government joined the world’s cen-tral banks in cutting interest rates to revitalize confidence in China’s financial markets, which has been shattered by the fallout from the U.S. subprime mortgage crisis. Fears of an economic recession overtook concerns about inflation as the government’s top concern. Ping An of China could suffer a huge loss this year because the val-ue of its shares in Belgium’s Fortis Group has plunged. Meanwhile, Blackstone Group purchased a 20-percent stake in a Chinese new material and chemical products manufacturer. On the energy front, Beijing hiked fuel prices in a move to reduce emissions. And the Asian Development Bank promised to fund mainland efforts to construct energy-efficient buildings.
The Chinese Government joined the world’s cen-tral banks in cutting interest rates to revitalize confidence in China’s financial markets, which has been shattered by the fallout from the U.S. subprime mortgage crisis. Fears of an economic recession overtook concerns about inflation as the government’s top concern. Ping An of China could suffer a huge loss this year because the val-ue of its shares in Belgium’s Fortis Group has plunged. Meanwhile, Blackstone Group purchased a 20-percent stake in a Chinese new material and chemical products manufacturer. On the energy front, Beijing hiked fuel prices in a move to reduce emissions. And the Asian Development Bank promised to fund mainland efforts to construct energy-efficient buildings.
