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The combination of a 24% rise in the yuan against the dollar and a 21% increase in Chinese unit labour costs, relative to America's, explains the steep appreciation shown in the chart.
ECONOMIST: The yuan-dollar exchange rate
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The profit at the Chinese unit of HSBC Holdings PLC, the largest foreign bank in China with more than 130 outlets, rose to 3.42 billion yuan in 2011, almost four times that of the previous year, after rising 28% in 2010.
WSJ: Foreign Banks in China Rev Profit Engines
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"In China we are jealous of our HR co-workers in the U.S., " where online recruiting platforms are more mature and can attract qualified candidates, said Willa Wang, talent acquisition director at Lenovo China, the Chinese unit of Hong Kong-based personal computer company Lenovo Group Ltd.
WSJ: In China, Recruiting Gets Social