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Monopoly to Blame for Online Rail Ticketing Debacle
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| No bidding was involved for the rights to develop the network system for 12306.cn. Rather, the Electronics and Computer Technology Institute under CARS developed the site under administrative order from the MOR. Administrative order replaced bidding, and 12306.cn became a natural monopoly as a result. The doubts and controversy surrounding the site provide impetus for a comprehensive review of China's railway ticketing system.
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Financial & Capital Market
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Credit Uncertainty Rises as Growth Slows Down
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| Unlike previous years, the central bank has yet to reveal the M2 growth rate it has set for 2012, indicating regulators may adjust monetary policy as they confront a constantly changing economic situation.
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European Debt Crisis May Drag World Economy Into Recession
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| Grim economic conditions in Europe and the fate of the euro zone will play a decisive role in setting the tone for the global economy in 2012, including the continued prospects for a U.S. economic recovery. Meanwhile, China and other emerging economies have been forced to passively bear the risk of these uncertainties. | |
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Coal Chemical Industry Regulation Faces Dilemma
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| Many coal chemical projects in China have incurred losses due to economic and environmental pressure; still, investors flock to these projects to gain access to low-priced coal; meanwhile, local governments, who view these projects as a driving force for GDP growth, profit by holding shares. National authorities are still struggling with how to regulate the industry.
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China Launches Iron Ore Spot Trading Platform to Gain Pricing Power
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| Industry experts think the new spot trading platform could lead to the collapse of the Platts pricing system. Also, opinions vary widely throughout the industry as to whether the platform should consider trading in financial derivatives or stick with commodities spot trading as it develops further. | |
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