As of April 1, parking fees inside the Fifth Ring Road are charged per 15 minutes, rather than per 30 minutes, and parking fees in the city were raised from two yuan to 10 yuan per hour.
"That suggests investors expect the new leaders will try to avoid any bond default, " says Wang Yingfeng, a bond-fund manager at Yaozhi Asset Management Co. in Shanghai, which has two billion yuan in assets under management.
The IMF's Steven Barnett and Ray Brooks calculate that in urban areas every extra yuan the government spends on health prompts an extra two yuan of consumer spending.
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On Day Two, however, the Yuan slipped almost .4% as Chinese State-owned banks bought up US dollars.
Carlyle raised its first of three Asia-focused buyout funds in 1999 and has set up two yuan-denominated funds with Chinese partners.
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At the end of March they had 5.3 trillion yuan of assets under management, more than double the amount two years ago.
Airfare, hotels, meals, insurance, and assorted charges came to the equivalent in yuan of about twenty-two hundred dollars.
Over the last two years, the yuan has increased in global circulation.
But in the two months since, the yuan has hardly budged (see chart).
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We have allowed for an extra 3% annual rise in the yuan against the dollar on top of the inflation gap of two percentage points.
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But China has let the yuan appreciate against the dollar by 6.6% in less than two years and is not likely to let it rise by much more anytime soon, at least without intense international pressure.
But when Chinese officials visit Washington later this month in the second meeting of the "Strategic Economic Dialogue" between the two countries, the Bush administration is not expected to push for a major revaluation of the yuan.
Yuan-denominated funds accounted for 60 percent of the total, continuing the trend of the previous two years.
Yuan dropped out of college in 2004 after two years at prestigious Peking University to follow his interest in entrepreneurism.
He makes a maximum of 4, 000 yuan a month, but an apartment for his wife and two children will cost about 250 times that amount.
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