Abstracts » Business, international

China ends Saturday workdays

Article Abstract:

China has implemented a five-day workweek starting May 1995, leaving Saturdays free for its 339 million urban workers and students. While travel agents and retailers are expected to benefit from the new 40-hour workweek, some businesses such as hotels and factories are seen to be adversely affected. To maintain their multiple shifts, these businesses will have to shell out more for overtime pay and new employees. Government, on the other hand, expects increased productivity as workers try to finish their work within the new work schedule.

Laws, regulations and rules, Work hours

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China pledges trade reforms, hoping to boost WTO bid

Article Abstract:

China is preparing to join the World Trade Organization by announcing trade reforms set for 1996. Pres. Jiang Zemin told members of the Asia Pacific Economic Cooperation summit that China will reduce tariff rates by 30% from the current rate of 36%, while quotas on 170 items will be removed. Meanwhile, the Chinese yuan will also be convertible.

Administration of General Economic Programs, Export Promotion, Trade policy, Commercial policy, Foreign trade promotion

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Charging ahead, with no one in charge

Article Abstract:

China is unlikely to establish a more cohesive decision-making process for its economic policies as long as Jiang Zeming, Deng Xiaoping's anointed successor, is busy consolidating his power. At present, China's economic policies give the impression that the government does not know what it wants to make of the country.

Economic Programs, Administration of Economic Programs, Analysis, Political leadership

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