APEC meeting ends with declaration
APEC leaders vowed on Sunday to boost regional economic integration and food security, and to combat climate change and corruption, in a declaration issued after a two-day meeting in the Peruvian capital. Regarding the global financial crisis, the leaders said in the declaration that the current global financial crisis "is one of the most serious economic challenges we have ever faced." "We will act quickly and decisively to address the impending global economic slowdown ... and will take necessary economic and financial measures to resolve this crisis."
Leaders of member economies pose for a group photo while wearing typical ponchos from Peru, during a break in the Asia-Pacific Economic Cooperation (APEC) summit in Lima, November 23, 2008. [Agencies]
H-Shares of Gome Suspended
The home-appliance giant, Gome, has seen its H-shares suspended today(Nov 24th). Caijing magazine's website reported yesterday(Nov 23rd), that the Chairman of the Board, Huang Guangyu is under investigation for market manipulation. The report quoted unnamed sources close to Huang, saying that he was taken away by investigators late on Wednesday(Nov 19th). The report said Huang was allegedly involved with stock price manipulation in a company controlled by his elder brother Huang Junqin.
Auto Show Indicates Optimism for the Economy with Record-Breaking Attendants
It was a good weekend for the China (Guangzhou) International Automobile Exhibition that saw a record breaking number of attendants, amounting to 120,000. More from our reporters Yu Sulin and Wang Jianping:
The auto show is a good indicator of the current state of the economy. Exhibitors and attendants gathering at the auto show expressed their confidence in the economy.
Mr. Zhang from a medium-class car manufacturer in Changchun city of Jiling Province, said,
"We have brought more staff and more cars to attend this session of the show."
Mr Wu from Foshan city, is also optimistic about the economy, "I am a businessman. From what I¡¯ve seen, the difficulties we are facing with the global financial crisis aren't as pessimistic as what we've been told."
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