China allocates 2.24b yuan to aid needy students


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Dreams in the box

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December 5, 2010, 11:53 pm Sunday night, Leilei was looking for some clothes at home and suddenly stopped her search. Leilei was born in the summer of 1983. From a small town in southern China, 9 years ago she was admitted into a very famous engineering university in Beijing, 5 years ago she started her masters program and 3 years ago she started working. Currently, according to statistics Leileis income is in the top 12 percent of Beijing. (family back home) How much money does your Leilei make? Aiya only about 10,000 yuan. Wow, so much! Leilei works at Beijing 3.5 Huan, she takes bus plus subway to work, needs about 1 hour and 13 minutes and costs 2.4 yuan. Leilei often withdraws money after work at the company south gate, average time waiting in line for the ATM is 3.5 minutes. There is never any line for the next door China Bank ATM. That one charges you 2 yuan processing fee. Leilei rents a one bedroom apartment for 2500 yuan a month. The lease is up next month and the landlord ...
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China demands US protects investors

BEIJING/TOKYO - China told Washington on Tuesday to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States.S&P slapped a negative outlook on the United States' top-notch AAA credit rating on Monday and said there was at least a one-in-three chance it could cut it eventually unless warring politicians found a way to slash a yawning budget deficit within two years.If investors start demanding higher returns for holding riskier US debt, the rise in bond yields could erode the value of Treasuries held in currency reserves and push borrowing costs up, putting the global economic recovery in jeopardy."We hope the US government will take responsible policies and measures to safeguard investors' interests," the Chinese foreign ministry said in a statement.China's foreign exchange reserves, the world's biggest, rose by nearly $200 billion in the first quarter to $3.05 trillion. About two-thirds are e...
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