China and the U.S. have signed an agreement to double the number of
nonstop flights between the two countries. Now the U.S. has to decide
where the extra 27 additional nonstop flights to Shanghai allowed
every
week will originate from. Northwest Airlines has got in early with an
aplication to do three nonstop flights a week between Detroit and
Shanghai. Two of the flights would begin with the approval and the
third
would start in the summer of 2000. It also wants to add three more
flights to Shanghai stopping in Tokyo. The airline currently has two
one-stop flights a week to Shanghai.
The China Telecom monopoly on telecommunications services is
definitely
coming to an end. What is not yet clear is how this will affect
consumers and how much foreign involvement there will be in domestic
services.
The 8th Shanghai International Automobile Industry Exhibition will be
held June 15-20.
A recent survey in Shangai indicates 76% of web surfers here are male
and 35% of them are online more than one hour daily. Many interviewees
said they felt going online was more meaningful than other pastimes
such
as TV, but admitted that one negative was that they are not getting
enough sleep. Shanghai surfers are split on the question of chat rooms
-
half think they're great, the other half think they're a waste of
time.
The Bank of New York has received approval to open a bank branch in
Shanghai next year. The bank has operated a representative office here
since 1994.
Gareth Chang, executive director of News Corporation and executive
chairman of Star TV, told a seminar in Beijing that China's television
industry will have an increasingly important part to part in the
development of the Asian, or even global, television industry.
The China Daily quoted sources as saying a possible change in
government
official car policies would benefit foreign car-makers, including
General Motors in Shanghai. It quoted a recent report which said the
central government had raised the former maximum engine size of
"official cars" from 2.5 liters to 3 liters and lowered price
restrictions. The GM Buick is 2.98 liters.
The Australian Tourism Commission has opened a Shanghai representative
office. More than 76,000 Chinese citizens visited Australia in 1998,
up
16.3 percent on the previous year. The figure is expected to rise to
150,000 by 2001 and even further to 500,000 by the year 2008. Shanghai
is a prime source of visitors to Australia.
Shanghai's first-quarter tax revenues were up 20.3 percent over the
same
period, due largely to a crack down on tax evasion.
Customs statistics indicate imports and exports through Shanghai port
in
the first quarter were up 19.3 percent over the same period of last
year. Imports were up 10.9 percent and exports up 26.1 percent. The
crackdown on smuggling was a key factor.
Fact: in 1979 all 10 of the world's tallest buildings were in North
America. In 1999, six of the 10 tallest are in Asia. Including the
Jinmao Building.
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