Zhejiang is investing in additional highways, and has signed an initial agreement for a stake in Wenzhou Bridge in its home province.
Chinese officials have authorized a pilot project in Wenzhou, a city in Zhejiang close to Ms. Wu's home of Dongyang, to legalize parts of that city's informal lending system.
In Wenzhou's Fortune Centre, where the most successful lenders once congregated, all that is left of one shadow financier are the indentations on a plaque where its name used to be.
ECONOMIST: Wenzhou��s shadow banking system has taken a knock
The three SMEs that went bankrupt in Wenzhou are facing allegations of corruption and mismanagement in local courts, suggesting that their situation may not be indicative of broader economic problems affecting enterprises of their size.
FORBES: Smaller Companies' Troubles Challenge China's Economic Policy
According to investigators, the signal that failed in the Wenzhou crash was developed over six months, beginning in June, 2007, by the state-owned China Railway Signal and Communication Corporation.
Monday's altercation took place in Mayu township in the shadow of Wenzhou city in Zhejiang province, eastern China.
BBC: Arrests over China baby's death in one-child policy row
The accident occurred at about 8:30 pm local time on Saturday on a track near the city of Wenzhou in Zhejiang state when bullet train no.
FORBES: Lightning Derails China's Bullet Train, Officials Say
Recognizing that SMEs are the main drivers in any economy, though, China has begun to reform its banking sector, starting with the Wenzhou reforms announced in April, in order to provide them greater access to capital.
Among them, Zhejiang Dongri, an investor in the Bank of Wenzhou, rose by its daily limit of 10%.yesterday.
FORBES: Lujiazui Breakfast: News And Views About China Stocks -- April 26
The perimeter of Wenzhou city in Zhejiang province, to take one example, now encompasses clutches of farmhouses, complete with vegetable plots, quacking ducks and free-range children.
"Private Sector Industrialization in China: Evidence from Wenzhou", by John Strauss, Edward Y.
On a yearly basis, prices of new homes are down in Hangzhou, Ningbo, Qindao, Haikou, Wenzhou again, Jinhua, Guilin and Dali.
Yet in the absence of outside interference, the economy of Wenzhou has grown by an average of 16% every year since 1979.
In March the central government unveiled a number of sensible reforms to tame the Wenzhou system without crushing it.
ECONOMIST: Wenzhou��s shadow banking system has taken a knock
On the small plain that surrounds Wenzhou, more than 140 townships have bloomed as some 2m peasants have given up farming to work in factories.
应用推荐