Typhoon Rolls into Southern China
Tropical Storm Chanchu hit southern China Thursday. The official death toll has now reached 50 in Asia, though more than one million people have been evacuated from areas affected by flooding.
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China Mobile in Talks with Google
China Mobile and Google are in talks to provide cell phone users with internet search capabilities over their mobile phones. China Mobile dominates the nation’s cell phone market with 260 million customers. China Mobile Chairman & Chief Executive Wang Jianzhou told the Associated Press that Google and China Mobile: " both share the same idea: how to turn cell phones into a new kind of Internet search engine.” Google has been aggressively trying to capture more market share in China over the past year.
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China’s Yuan
Just weeks after Chinese President Hu Jintao discussed trade matters with President Bush, China's central bank allowed the yuan to break briefly through the symbolically important level of 8.0 to the dollar this past week. Experts say that this symbolic break signals the Chinese government will allow the yuan to float more freely. Fran Jianjun, a financial analyst at the Development Research Center, a Chinese cabinet think tank is quoted saying: “You will see a faster pace of appreciation" for the rest of the year.
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Archive of Past News Summaries
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