The third most-talked about Sina Weibo microblog in the 'Finance' category belongs to Larry Lang (http://www.weibo.com/langxianpinghk), who wrote about the manufacturing overproduction in China on October 13
A woman places a poster of Chinese author Mo Yan, the 2012 Nobel Literature Prize winner, at the Unionsverlag booth at the 64th Frankfurt Book Fair on October 11, 2012. Some commentators in China thought Mo Yan's debuts did not suggest he would one day win a Nobel prize. ©AFP/ JOHANNES EISELE
Lang, a professor of finance at the Chinese University of Hong Kong and bestselling author of business books including Larry Speaks Strategy, commented that there has been overproduction in the manufacturing of automobiles and home appliances since 2009 in China. He added that this problem is expected to worsen by 2015 when excess production in the country will hit 40 percent for cars and 70 percent for refrigerators.
According to a story in The New York Times in August, China is encountering the problem of a huge build-up of unsold goods due to the global economic downturn, resulting in China’s problem of overproduction. This has led the Chinese government to introduce measures to shore up domestic demand. For instance, the Chinese government reintroduced subsidies in August for the purchase of cars in the country's rural areas in a bid to stimulate the automobile industry, reported financial news website MNI last week.
The 10th most talked-about 'Finance' microblog is the Sina Weibo account of China-based business magazine Chuangye Jia ('The Founder') (http://www.weibo.com/chuangyejia), featuring a photo of the new Nobel Prize winner in Literature, Mo Yan.
Posted by Culture magazine (http://www.weibo.com/zhenghedao), the photograph, taken during the 1980s on a movie set for the film Red Sorghum, showed a visibly younger Mo Yan standing next to Chinese actress Gong Li and top Chinese director Zhang Yimou. The editors of Culture commented: “No one would have imagined you as a Nobel Prize winner one day….”
The film adaptation of Mo’s novel Red Sorghum, which marked the directorial debut of Zhang and the acting debut of Li, went on to garner international acclaim at some of the leading film festivals around the world, including the coveted Golden Bear prize at the Berlin Film Festival.
Here are the top ten most talked-about 'Finance' microblogs of October 9-15 on Sina Weibo:
7. Finance Sina