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Danwei Noon Report
Karaoke fees and interest ratesPosted by Jeremy Goldkorn, August 22, 2006 11:59 AM
Danwei Noon Report is a daily roundup of new and old media coverage about China from Chinese and English sources. Interest rate hikeXinhua's top story on their Chinese website is an opinion piece titled Can interest rate hikes restrain government spending? (link). The article is supportive of the interest rate increases as a means of reigning in an economy that everyone seems to think is a little too hot. The Financial Times on Friday published an article by Richard McGregor about the rate hike: China raises rates to tackle credit boom (link).
When you are Will Smith, there are few places you can’t get in. Last year, one of those places was China.
Later that year [2004], Amazon bought Dangdang's Chinese competitor Joyo for about $75 million. Today, Dangdang and Joyo are by some accounts neck and neck, but Dangdang is edging ahead. Reliable market-share data are hard to come by, since none of the major companies are publicly traded. Shanghai iResearch Co., another Chinese market-research company, estimates Dangdang sold about $55.2 million of goods on its site last year, slightly less than the $56.4 million sold by Joyo. IResearch also estimates that Dangdang's sales nearly tripled last year, compared with 50% for Joyo. Dangdang "has the momentum to become the dominant player in the market," says Mr. Yu of Analysys.
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