The Chinese government has introduced more stringent requirements on wealth disclosure for public officials and their families. The move is part of the ruling Communist Party’s bid to address corruption within government ranks but has failed to heed popular calls to make the wealth reports public, the Wall Street Journal says. Corruption has consistently been one of the biggest causes of popular discontent with the party’s rule, the news agency notes.
Chinese factories are now competing to attract new workers and prevent current laborers from moving to other firms, the New York Times says. The shortage of factory workers in key Chinese manufacturing cities such as Zhongshan is caused by the revival of the country’s export-drive industry, the newspaper says.
The Bank of China and the Asian Development Bank agreed to explore a variety of fresh opportunities for cooperation, including in regional trade finance, infrastructure development, clean energy and microfinance. The agreement was reached during a July 13 visit of a delegation of the Bank of China to ADB’s headquarters in the Philippines.