December, 21, 2007
Lead headline of today’s Beijing News announces that central bank raised the interest rate for the sixth times this year.
According to the The China Daily:
Different than the five previous rate hikes, this time the central bank lowered the interest rate for sight deposits by nine basis points to encourage people to put more money in the bank for a fixed period, rather than having it readily available for stock or property investment.
The front page picture shows a trial in Chaoyang Count, Beijing, which a 17-year-old boy who burned his classmate with gasoline, was sentenced to 8 years imprisonment. The boy said he was imitating a character in the game World of Warcraft when he had the idea to set fire to his classmate. There is more about this story on Billsdue.
Other headlines include:
- From December 24, Beijing’s subway will reduce the interval time between departures on Line 1 and Line 13 in the morning rush hour to alleviate sardine syndrome.
- National Highway 110 opened a new truck-only lane yesterday, to reduce the traffic pressure of Badaling Express.