GSK sacks 110 China staff in wake of drug bribery case: sources


LONDON - Drugmaker GlaxoSmithKline , which was fined 3 billion yuan ($479 million) in China last year for bribery, is dismissing 110 employees in the country for misconduct, people familiar with the matter said on Friday.

China to raise defense budget 10.1 percent this year in high-tech drive

BEIJING - China will boost its military spending by 10.1 percent this year to 886.9 billion yuan ($141.45 billion) as it cranks up its development of high-tech weapons systems, the government announced on Thursday.

05 Mar 2015

China convicts 81-year-old writer who criticized propaganda chief

BEIJING - A Chinese court on Wednesday sentenced an 81-year-old writer to jail on a charge of illegal business after he criticized the ruling Communist Party's propaganda chief in online essays, but the sentence was suspended, his lawyer said.

25 Feb 2015

China orders compensation to acquitted death row prisoner

BEIJING - A court in China's southern city of Fuzhou ordered compensation of 1.14 million yuan ($182,000) to a former death row prisoner who was acquitted on charges of poisoning two children, state media said on Tuesday.

World, China 17 Feb 2015

China data shows liquidity outpaces economic growth

BEIJING - China's outstanding total social financing (TSF), a broad measure of liquidity in the economy, rose to 122.86 trillion yuan ($19.7 trillion) at the end of 2014, up 14.3 percent from a year earlier, the central bank said on Tuesday.

10 Feb 2015

China jails former Agricultural Bank VP for life for taking bribes

SHANGHAI - A Chinese court jailed the former vice president of Agricultural Bank of China Ltd for life for accepting more than 30 million yuan ($4.80 million) in bribes, including works of art and gold bars, the latest casualty in an anti-corruption drive that is now targeting the finance sector.

World, China 04 Feb 2015

Lenovo quarterly revenue jumps 31 percent, tops expectations

BEIJING - Lenovo Group Ltd, the world's leading PC maker, said on Tuesday its third-quarter revenue rose 31 percent to $14.1 billion, beating investor expectations, as its mobile division sales more than doubled following its acquisition of Motorola.

02 Feb 2015

China's Tibet to reward tips on 'terror attacks'

BEIJING - Authorities in China's Tibet will offer rewards up to 300,000 yuan ($48,000) for tips on "violent terror attacks", state media reported, in an effort to "promote stability" in the region beset by ethnic tensions.

World, China 31 Jan 2015

'Dama' queens: China investigates 'auntie demolition team'

BEIJING - Chinese police are investigating reports that middle-aged women were paid 200 yuan ($32) each to demolish homes for a new development, a government official said on Thursday, sparking anger about one of the country's most common causes of unrest.

22 Jan 2015

Car makers pay to keep Chinese dealers happy as market slows

SHANGHAI/FRANKFURT - After years of outsized growth that turned China into the world's biggest car market, a slowdown is exacerbating tensions between global automakers and local car dealers, with smaller margins leading to tougher negotiations over sharing profits.

08 Jan 2015

The yuan charge

Participants wait to perform a dragon dance during a mass fitness programme outside the National Stadium, also known as the Bird's Nest, in Beijing June 20, 2009.

The Obama administration is taking China head on over the yuan. As Congress comes closer to punishing Beijing for not letting the currency strengthen more rapidly, Reuters explains the factors behind the yuan's sudden gains.   Document