CBRC sez:
If borrowers suffered huge losses that can't be covered by insurance, or if the insurance or guarantees are not enough for the debts, the loans should be regarded as bad loans and written off in a timely manner.

My first reaction is why this should fall on the banks' balance sheets? Shouldn't the gov't step […]

I pride myself on being open and honest, and I therefore readily admit that I detest Michael Ledeen, one of the chief foreign policy chest-thumpers at the American Enterprise Institute. It therefore saddens me to no end when I reluctantly say that his latest article in FEER, although kinda scary, has some elements of truth […]

Customs officers have arrested four people after finding 30g of cocaine worth $20,000 in an express parcel from Canada.

Last week I posted here on Chinese LLM degrees for foreigners. As some useful comments have come in response to that, I'm posting a revised document; please use this one (Version 2) instead.

The latest issue of the Congressional-Executive Commission on China's newsletter, "China Human Rights and Rule of Law Update," is now available (PDF from this site | HTML from CECC site).