China's central bank announced that it was removing some controls on the interest rates charged by banks for the loans it issues clients.
Reuters explains that the People's Bank of China said in a statement that it was removing the floor "on lending rates for commercial banks, meaning that banks will now be able to cut rates as much as they see fit to attract borrowers."
Denver’s second Biennial of the America’s is a festival of ideas, arts and culture meant to examine issues impacting life in the Americas. Among the artists tapped to be part of this year's event is Xi Zhang.
A Chinese boy passes a photo of China's first aircraft carrier during an exhibition entitled "Scientific Development and Splendid Achievements" in Beijing in 2012.
Credit Feng Li / Getty Images
More people around the globe view the United States positively than do China, but most of them also believe that Beijing is set to eclipse Washington as the world's dominant Superpower, according to a new Pew Research survey.
Before it became China's capital in 1949, Beijing was a fairly provincial little city of 2 million people.
Today, it has grown into a megalopolis of some 18 million people.
I've recently returned to the city after a few years away, the first thing that strikes me is: Who the heck are all of these 20-somethings and how did they get to be driving all these Ferraris and Maseratis?