China is pulling out all stops for the Shanghai 2010 Expo that begins May 1. The Shanghai municipal government allotted 170 billion yuan ($25 billion) on urban facilities in 2009 to prepare for the upcoming Expo. This figure is an all-time high. Plans include building a grand subway hub and a face-lift on the historical bund. Shanghai will also open 42 special bus routes to help get visitors to the Expo sites. The newly-opened routes are expected to connect with bus hubs and subway stations, as well as entrances and exits to the Expo site.
According to a survey conducted in 10 Chinese cities, on the happiness of middle income families with annual incomes of more than 50,000 yuan ($7,325), the happiness index in smaller cities was much higher than in big cities. The happiness index of people in Jiangsu, Sichuan, Fujian provinces and Chongqing municipality was found to be high, while those living in big cities like Beijing, Shanghai and Shenzhen were not as happy. The main reasons for their unhappiness were high housing prices, fierce office competition, traffic congestion and high cost of education.
On a happy note, the World Bank raised its growth forecast for China to 9.5%. The World Bank expects a strong increase in consumption by both businesses and households in the country, even though government stimulus measures were being cut back. The bank advised Beijing to focus on cooling inflation and trying to cut the risk of a bubble in property prices. It also urged China to let its currency appreciate to contain prices and to stop the economy overheating.
In the latest expose related to corruption, Huang Songyou, former vice-president of the Supreme People`s Court, was found guilty of taking more than 3.9 million yuan (US$574,000) in bribes from 2005 to 2008, and was sentenced to life. Huang is believed to be the highest-ranking official toppled in the judicial system since 1949 when the People’s Republic of China was founded. Read more about China`s economy, politics and other current events in the Daily Updates section of our website.
In our most recent article "Voices: Traveling for the New Year," we find out what people think about the hustle and bustle surrounding the Spring Festival. Every year, during the festival, hundreds of millions of Chinese travel through the country. We talked to ordinary people in Beijing, Guangdong, Nanjing, and Tianjin to get their thoughts on the New Year`s travel. Find out about this and other news at our website.
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