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Google threatens to quit China

Internet giant Google Inc on Tuesday made a shock threat to quit China, the world’s biggest Internet market by number of users, after hackers accessed human rights activists’ e-mail accounts.

“These attacks and the surveillance they have uncovered — combined with attempts over the past year to further limit free speech on the Web — have led us to conclude that we should review the feasibility of our business operations in China,” Google chief legal officer David Drummond said in a statement.

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PRC surprises with early increase in bank reserve ratio

China yesterday raised the proportion of deposits that banks must hold in reserve in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating.

The 0.5 percentage point increase in the reserve requirement ratio (RRR) will take effect on Monday and will apply to all banks apart from rural credit cooperatives, the People’s Bank of China said on its Web site.

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Newsflash

Residents in Urumqi demanded further action yesterday after the sacking of two top officials in the restive Xinjiang region over syringe attacks that sparked deadly protests.

The Communist Party chief of Xinjiang’s capital Urumqi and the region’s top police official were dismissed on Saturday in the wake of the protests that left five people dead, but residents said the sackings were not enough.