28th November 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
Graeme has been using ChinesePod since 2007
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People's Daily
China not worried over economic slowdown
The World Bank has lowered its forecast for China's GDP over the next two years in its biannual economic update on East Asia and Pacific. The report shows that China's GDP growth rate is expected to stand at 9.1 percent in 2011 and slow to 8.4 percent in 2012.
Domestic economists generally agreed with the World Bank's judgment on China's economic slowdown. Research institutions and experts mostly said that the probability that China's economic growth will slow over the next two years is very high.
Chinese investments benefit European companies
Chinese enterprises have 70,000 employees in Europe
The first China-E.U. Business Cooperation Forum, also known as the Antwerp Forum, was held in Antwerp, Belgium from Nov. 22 to Nov. 23.
The trade value between China and Europe reached 480 billion U.S. dollars in 2010 and is expected to hit 570 billion U.S. dollars in 2011, said Sun Yongfu, director of the European Affairs Department of the Ministry of Commerce of China, said during the forum. The European Union has beeen China's largest trade partner for seven consecutive years.
China says BRICS to support Middle East countries in independent political transition
BEIJING, Nov. 25 (Xinhua) -- The BRICS members should make joint efforts to help ease tension in the Middle East and support the region's countries in carrying out political transition and social reconstruction on their own, Chinese Foreign Ministry spokesman Liu Weimin said Friday.
Bank of China opens new branch in Kobe, Japan
KOBE,Japan, Nov. 25 (Xinhua)-- The Kobe Branch of the Bank of China opened to the public for business in Kobe, western Japan on Friday. This is the sixth branch established in Japan by the Bank of China.
Addressing the opening ceremony of the new branch, Li Lihui, president of the Bank of China said that the bank set up a branch in Osaka in 1931, becoming China's first bank to establish a branch in Japan.
Monetary easing may be on cards
BEIJING - Monetary-loosening measures by the Chinese government are imminent, and the tone of its macro policy may change during the nation's annual Central Economic Work Conference, which is scheduled to begin in December, according to analysts.
Six rural credit cooperatives in Zhejiang province will see a 50 basis point reduction in the reserve-requirement ratio (RRR) to 16 percent, effective from Friday, the Xinhua News Agency reported on Wednesday, citing Hangzhou branch of the People's Bank of China (PBOC), the central bank.
Kaixin OpEd - That's the story we are getting from China as well.
Policy of 15-year free education promoted in China's Gansu Province
Students from primary school have class in Kazak Autonomous County of Aksay, northwest China's Gansu Province, Nov. 21, 2011. Under the direction of the central policies, autonomous counties with better education conditions in Gansu Province promoted 15-year free education. Since 2009, three counties have carried out the policy while another one is expected to implement it by the spring of next year.
Graeme has been using ChinesePod since 2007
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China Daily
Yuan is close to equilibrium rate: Economist
BEIJING - China's RMB, or the yuan, is getting close to the equilibrium value, a government think tank economist said, refuting the US accusation that the currency is undervalued.
The yuan's previous downward moves and the slowing growth of China's foreign exchange reserve signalled the currency "may" already have entered a new stage, Li Yang, vice president of the Chinese Academy of Social Sciences at a finance forum.
According to latest statistics, the country's forex reserve increment in the third quarter was $50.9 billion less than that of the second quarter, dragged down mainly by the narrowing trade surplus.
Li's viewpoint on the currency's equilibrium was echoed by Shen Jianguang, chief economist with Hong Kong-based Mizuho Securities Asia, who also refuted the US claims that the RMB has space to further appreciate about 20 percent.
He said the United States may have drawn conclusions from the International Monetary Fund's (IMF) forecast on China's balance of payments, which is not true.
China: 'Extend Kyoto Protocol'
Durban talks should give priority to commitment, spokesman urges
BEIJING - China on Friday said extending the Kyoto Protocol's first commitment period should be the top priority at the upcoming global climate talks.
The Kyoto Protocol is an international agreement to set binding targets for 37 industrialized countries and the European community for reducing greenhouse gas emissions from 2008 to 2012.
It is also the only current legal binding document to cut greenhouse gas emissions. The Kyoto Protocol could be in jeopardy if countries fail to reach an agreement on an extension at the Nov 28 to Dec 9 talks in Durban, South Africa, held under the United Nations Framework Convention on Climate Change (UNFCCC).
"When it comes to tackling climate change, countries should follow the principles of common but differentiated responsibilities, fairness and individual capabilities," Foreign Ministry spokesman Liu Weimin said at a news conference on Friday.
East meets east
Eastern and central Europe is a growing market for China and a gateway to the western region of the continent
The medieval splendor of Prague seems far removed from the skyscrapers of China's modern urban metropolises of Shanghai and Shenzhen - but there is an increasingly close and important trading relationship between Central and Eastern European (CEE) countries and the world's second-largest economy.
Rows over the value of the yuan might overshadow China's trade relationship with the United States and Western Europe but trade between CEE countries and China stands at more than 10 times the level in 2001 and has grown at 32 percent a year over the past 10 years.
Decoding the economic boom
Prominent scholar stresses that it is time for US, China to work together
For more than 50 years, Orville Schell has been explaining China to Westerners. Much before his maiden visit to the Chinese mainland in 1975 at the age of 34, he had already written three books on China.
During that trip when China was still in its last years of the "cultural revolution" (1966-1976), Schell worked with a group of American youngsters for a month in Dazhai, a model agricultural brigade in North China's Shanxi province. He also worked at the Shanghai Electrical Machinery Factory located in the city's western suburbs of Minhang.
Progress made in HIV/AIDS campaign
Latest official estimate shows slower rate of increase on the mainland, Shan Juan reports in Beijing.
About 780,000 people will be living with HIV/AIDS on the mainland by the end of this year, 40,000 more than 2009, according to an estimate issued jointly by the Ministry of Health and UNAIDS.
Nearly 370,000 sufferers have been detected, including 154,000 with full-blown AIDS, the report said. Of the 200,000 who need treatment according to World Health Organization (WHO) standards, 130,000 are receiving it.
Nearly 75 percent of the 216 children who attend primary school in Lulou village, Anhui province, are HIV-positive or were orphaned when their parents died of AIDS. Many Anhui villagers were infected when they sold their blood illegally in the late 1980s and early 1990s.
Stamp exhibition posts a profit
A rare stamp auction at a record-breaking philately exhibition in Wuxi attracted both specialist collectors and hordes of visitors. Shi Jing reports.
A set of stamps commemorating Peking Opera master Mei Lanfang. Provided to China Daily
Singing the praises of Xibaipo
A tour of the revolutionary sites of Hebei province ideally takes in Xibaipo Museum, an interactive guide to China's civil war, Ranzhuang's Underground Tunnel Museum account of the War of Resistance against Japanese Aggression, and the military base of Handan - leaving time for the attractions of Baiyangdian Lake and Goddess Nuwa's Temple as a natural counterpoint to history.
Waxworks of Liu Shaoqi (from left), Ren Bishi, Mao Zedong, Zhou Enlai and Zhu De are on display at the museum.
China's Top 10 Leisure Spots
Share your China stories!
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Graeme has been using ChinesePod since 2007
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XinHua News
Premier urges protection of women's, children's rights
BEIJING, Nov. 27 (Xinhua) -- "The social status of the female population indicates the level of social progress (of a nation), while children are the future and hope of a nationality and a nation," Premier Wen Jiabao said on Sunday.
While addressing the fifth National Working Conference on Women and Children, the premier highlighted the importance of women's and children's wellbeing, noting they bear on "the future of the nation and the nationality."
China's women and children, who make up two-thirds of the country's 1.3 billion strong population, are an "important force for promoting national development and social progress," said Wen, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee.
See Kaixin's - Women in China
Ex-British PM on China's euro zone aid
BEIJING, Nov. 28 (Xinhuanet) -- European leaders should show a credible commitment to stand behind the single-currency system and resolve the ongoing crisis, a prerequisite for China's help, Tony Blair said on Saturday.
"Now is really the last chance for decisive leadership (in Europe). (It's) time for action," said the former British prime minister in an exclusive interview.
"I have no doubt China is prepared to help, but it only helps if Europe gets its act together. There's no Chinese action that can substitute European action," said Blair, who was visiting Beijing to meet with Vice-Premier Wang Qishan to discuss global economics, eurozone debt and the Middle East crisis.
To preserve the euro, he said leaders must show the "whole weight of the European economic system will stand behind the single currency ... whether that can be done through the European Financial Stability Fund, the European Central Bank or can be done in a number of different ways".
Vice premier stresses quality, fair distribution of affordable housing
BEIJING, Nov. 27 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for increased efforts to build and fairly distribute high-quality affordable housing to low-income residents, which he said would benefit both the people's livelihood and the economy.
China's measures to control the property market are at a critical stage, Li said, stressing that the government should stick to its tightening measures over the property market and consolidate the regulative results it has achieved.
Central African Republic president praises China's development model
YAOUNDE, Nov. 26 (Xinhua) -- Central African Republic President Francois Bozize praised China's development model when he met a visiting Chinese official recently, according to news reaching here on Friday.
China's development model has attracted extensive attention from across the world, and it should be an example for the Central African Republic, Bozize said Thursday in his meeting with Luo Fuhe, vice chairman of the National Committee of the Chinese People's Political Consultative Conference.
Bozize said China's achievements in social and economic development are admirable and that its successful experience in sticking to the path of peaceful development is worth learning and following by the Third World countries.
The Central African Republic is grateful to the Chinese government and the Chinese people for their selfless assistance and support to his country's economic and social development, Bozize added.
The president reiterated his country's adherence to the one-China policy.
China focuses on six measures to help LDC economies
VIENNA, Nov. 25 (Xinhua) -- China is to further help the least developed countries (LDCs) in their development effort through zero-tariff treatment and other measures, Yu Jianhua, China's Assistant Commerce Minister said here Friday.
Addressing a LDCs Ministerial Meeting in Vienna, Yu said China will focus on six concrete measures to advance the implementation of the Programme of Action (IPoA), adopted by the Fourth United Nations Conference on LDCs in Istanbul in May.
First, as announced by Chinese president Hu Jintao during the G20 summit in Cannes, China would, in the context of South-South cooperation, give zero-tariff treatment to 97 percent of the tariff items of exports to China from the LDCs that have diplomatic relations with China.
Second, tilt foreign aid further to the LDCs.
Third, carry out cooperation in livelihood projects in the LDCs, including hospital, school, domestic water use and clear energy.
Fourth, strengthen agricultural cooperation with the LDCs, including the increase of food aid, dispatching agricultural and technical experts.
Fifth, strengthen personnel education in the LDCs to build capacity for self-development.
Sixth, continuously promote the establishment of economic and trade cooperation zone in the LDCs by Chinese companies.
China Int'l Environmental Protection Expo opens in Jiangsu
NANJING, Nov. 25 (Xinhua) -- The 2011 China International Environmental Protection Expo opened in east China's Jiangsu Province Friday, attracting more than 240 enterprises from home and abroad.
The most advanced environmental protection technology and products from around the world will be showcased at the expo held in the provincial capital of Nanjing.
China will invest a total of 3 trillion yuan (470 billion U.S.dollars) in its environmental protection industry during the country's 12th Five-Year Plan period (2011-2015).
| Biz China Weekly >> |
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| Some say yes the evaluation is "constructive," yet China has its own particular situation that might not be easily evaluat |
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Global Times
Government must look before it leaps
Some "disturbance" from the public is not bad to the government. The government needs to adjust itself to suit the public, not the other way round.
Public opinion has become more diversified in recent years. The rhetoric of public criticism has also become stronger and sometimes even aggressive, if not "subversive." While it may be hard to judge whether these changes are "good" or "bad," the government needs to accept these changes and adjust accordingly.
From an optimistic point of view, tougher public scrutiny can bring unprecedented changes. It can push governments in China to reform their approaches and ethics in works.
Democracy doesn't have to start from revolt
For a long time, China has not only been criticized as undemocratic, but also anti-democracy. As China does not have Western-style elections, some Chinese find it hard to refute the West's finger-pointing. Although China has made prominent social progress in recent years, it has long been the target of criticism over the democratic issue.
To convince Western public opinion is rather difficult but Chinese people should not be manipulated by the West. It is important to maintain independent thinking on democracy.
Democracy is a good thing, but is this also true when latest streets protests in Egypt claimed dozens of lives? We need democracy, but a truly good democracy that will avoid autocracy, promote scientific decision-making, combat corruption, and more importantly, not give way to social unrest.
This requires the basic construction of a Chinese democratic culture that should match the building of democratic institutions. This should include a social consensus on democratic politics, strong legal authority and respect for the majority opinion.
Democracy may bring different results to different countries. The Egypt revolution may aim at a high standard of democracy, but a true democratic culture needs to be reached through constant economic and cultural development.
China's democratic construction has not stood still. Compared with the situation five years ago, China has more channels to express opinions and there are more restraints on administrative powers. The country's accountability system is working, many officials have fallen from grace after their scandals were exposed on the Internet. These things could not even be imagined five years ago.
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
CHINA
CCTV 9
News and Current Affairs
Dwelling in the Fuchun Mountains - FEATURE
China exported more than 244 billion USD of goods to the US in the first eight months of 2011. But that’s not all we’re exporting
Over the past three decades, China’s economic reforms have created a significant number of millionaires and billionaires. But the new found wealth has also led to a startling increase in the number of Chinese nationals emigrating to other countries. More and more rich seem to be considering moving abroad, as their wealth has made it easier to obtain citizenship and permanent resident status in other countries.
Watch Video.
China on path of carbon emission reduction
"Tiger Mom" leaves, "Wolf Dad" arrives
Play Video
Just as the “Tiger Mom” controversy started simmering down in China, here comes the "Wolf Daddy." Xiao Baiyou, a self-proclaimed expert on strict parenting, is sparking a new round of fervent discussion on child-raising methodologies among anxious Chinese parents.
He insists he’s the best parent in the world. This past June, Xiao Baiyou published a book on parenting that featured a severe method---spanking.
Related stories
- "Tiger Moms" popular in China 2011-04-15
- Argument races over "Tiger Mom" style 2011-03-06
See Kaixin's FEATURE: Tiger Mum - Amy Chua 'Battle Hymn of the Tiger Mother'
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
The Wall Street Journal
Seldom Heard on China: 'Sell'
HONG KONG—Investors have soured on many Chinese companies on fears of a slowing economy and worries about accounting fraud and corporate governance. But for analysts at investment firms, the stocks remain a hot ticket.
Beijing to Keep Tight Grip on Property Sector
BEIJING—China will maintain its tightening measures in property sectors next year and continue its efforts to construct affordable housing, state-run media reported Sunday, citing Vice Premier Li Keqiang.
J.P. Morgan's China Go-Ahead
Firm Is Said to Receive Permission to Set Up RMB, or Yuan-Denominated, Fund
HONG KONG—J.P. Morgan Asset Management, an arm of U.S. bank J.P. Morgan Chase & Co., received permission from the Beijing city government to create a $1 billion RMB fund under the new Qualified Foreign Limited Partner program, people familiar with the matter said, allowing the U.S. firm to become the biggest foreign manager of a yuan-denominated fund to date.
Children of the Revolution
China's 'princelings,' the offspring of the communist party elite, are embracing the trappings of wealth and privilege—raising uncomfortable questions for their elders.
The offspring of party leaders, often called "princelings," are becoming more conspicuous, through both their expanding business interests and their evident appetite for luxury, at a time when public anger is rising over reports of official corruption and abuse of power.
Picture: Bo Xilai, with his son, at a memorial ceremony held for his father in Beijing, in 2007.
Kaixin OpEd: Yes, this is an issue in China. Though the bad old days of slotting a sprog into the top echelon of government is mostly gone. The princelings can be given a mighty leg up by dad, but if they turn out to be a frog, then they will stay in the pond. It takes real talent to rise to the top in China today ........... mostly, and with little twists and turns, but largely.
Mind you, in the 'west', having a rich and/or powerful dad is not without its benefits.
Hormats Challenges ‘Distorted’ Advantages for China’s State Firms
U.S. Undersecretary of State Robert Hormats has been causing a stir in China by arguing that what he calls the principle of “competitive neutrality,” should govern relations between privately held firms from the U.S. and state-owned firms in China and elsewhere
Convertible Yuan Bond Fund Targets Aussie Property
Asian investors will soon be able to buy a yuan-denominated convertible bond targeted at Australia’s commercial and residential property sector.
China, As It Was
In Yunnan province, you can experience ancient traditions like cormorant fishing in a landscape of mountains and mist
As they were rowed out into the dark, churning waters of Erhai Lake, 10 cormorants with black plumage and white crests sat calmly in the bow of the boat.
See Also Kaixin's - Guilin, Guangxi Zhuang autonomous region
China Tests Buddha-Tooth Diplomacy in Myanmar
When China wants another country to feel all warm and fuzzy, it sends a panda. But Myanmar gets something special: A sacred Buddha tooth.
Reuters
Paintings From Australia’s Desert Make Waves in China
An exhibition of Aboriginal art on tour in China is the biggest the country has ever seen and drawing record crowds, but it hails from one of the most remote communities in Australia.
Photos: Guangzhou Auto Show Kicks Off
Amy Tan Q&A: China Then and Now, and How to Bridge the Gap
Novelist Amy Tan has spent most of her life examining the divide between China and America through novels that examine the emotional minefields of families and the clashes that come from cultural misunderstandings.
Photos: Liu Bolin, Vanishing Artist
See Kaixin's FEATURE on Liu Bolin with plenty of Photos
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
The New York Times
China Looking Into U.S. Policies in Renewable Energy Trade
The nation’s commerce ministry opened an investigation on whether American subsidies in the solar, wind and hydroelectric sectors had hurt development of those industries in China.
Chinese Factory Index's Decline Sends Asian Stocks Lower
The HSBC November purchasing managers’ index fell to its lowest level since March 2009, highlighting how the woes in Europe and the United States are taking their toll on the Chinese economy.
The Tussle Between Energy and Ecology Moves to the Australian Outback
An owner of protected wild lands in Australia is fighting plans for a giant coal mine supplying China.
China Outlines Cuts in Carbon Emissions
With global climate talks set to begin next week, China on Tuesday issued the most comprehensive document yet on its plans and negotiating positions on emissions.
A Deeper Look at China, Coal and CO2
Digging deep on the growing flows of coal to China and other emerging industrial centers in Asia.
Chinese Factory Index's Decline Sends Asian Stocks Lower
The HSBC November purchasing managers’ index fell to its lowest level since March 2009, highlighting how the woes in Europe and the United States are taking their toll on the Chinese economy.
China Outlines Cuts in Carbon Emissions
With global climate talks set to begin next week, China on Tuesday issued the most comprehensive document yet on its plans and negotiating positions on emissions.
Republicans and Obama Can Agree on Criticizing China’s Trade Practices
Republican contenders talk tough about China, and President Obama is already getting tough on it.
Eyeing China, U.S. Expands Military Ties to Australia
CANBERRA, Australia — President Obama and Prime Minister Julia Gillard of Australia announced plans on Wednesday for a sustained new American military presence in Australia, a deployment of 2,500 troops aimed at signaling that the United States intends to counterbalance a rising China.
ABC News (Australian Broadcasting Commission)
No better friend - VIDEO
Nick Dole looks back over the 'special relationship' between Australia and the US.
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Asia Times Online
America pivots toward ASEAN
By Donald K Emmerson
KAMPIAL, Indonesia - To the sounds of a gamelan orchestra, white-dressed Balinese pay ritual homage to Saraswati, the Hindu goddess of knowledge and learning. The timing is apt as over a thousand journalists and others try to divine the significance of a week of high-level diplomacy held on the island, including the 6th East Asia Summit (EAS), the 19th Association of Southeast Asian Nations (ASEAN) summit, and other ASEAN-linked events.
Proposed sale of Taiwan raises no laughs
A satirical op-ed advising United States President Barack Obama to abandon military support for Taiwan in exchange for China forgiving US$1.14 trillion of American debt appears to have roots in reality. While the island is conspicuously absent from the US's "return to Asia" plans, US liberal circles have touted the same idea to boost Obama's re-election campaign.
- Jens Kastner
SPENGLER
It might not be an
Asian century after all
Demographics, resistance to democracy and complacency about its visible success all risk taking the steam out of China's rising trajectory. If Beijing erroneously concludes from the United States's financial crash that a command economy is in its interests, and regards America as an enemy rather than as an unthreatening rival, it will decline. The greatest challenge is not American strength but American weakness.
Dissonance grows in US-China network
In the United States, the Internet supports the political belief of the right to express an opinion, whereas in China it shows up the limitations to how individuals may disagree with a government equipped to suppress dissent. While American technology gives Beijing the ability to snoop into the online thoughts of the Chinese people, tensions between political values and commercial opportunities become a big issue for the United States when entry into a compelling market is threatened. - Benjamin A Shobert
Shanghai-led bond
sales may ease China debt fears
By Olivia Chung
China's local governments went on a spending - and borrowing - spree under the country's 2008 stimulus package, with many loans bypassing the legal framework. Shanghai and Guangdong this week led a new scheme of direct bond sales that will help spending to continue - and may help to forestall huge debt defaults.
US and China fret over Taiwan vote
By Bonnie S Glaser and Brittany Billingsley
While China believes defeat for President Ma Ying-jeou and the ruling Kuomintang in Taiwan's January elections will usher in a new era of pro-independence Democratic Progressive Party agitation, Washington suspects his DPP challenger, Tsai Ing-wen, intends to roll back years of cross-strait political and economic detente. However, the Taiwanese have the final say, and the polls are headed towards a photo finish.
A thee-way waltz in Honolulu
By M K Bhadrakumar
United States President Barack Obama and his Russian counterpart Dmitry Medvedev were on first name terms at the weekend's Asia-Pacific Economic Cooperation summit in Honolulu, even though nothing particularly is happening between their countries to justify the bonhomie. Chinese President Hu Jintao, though, remains very much "Mr President", indicative of the strains between Washington and Beijing.
BOOK REVIEW
US-China power imbalance threatens Asia
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
Reviewed by Benjamin A Shobert
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
While arguing that a stark evaluation of Beijing's military strategy proves the United States has been overly optimistic in believing economic engagement would foster democracy, this book makes no alarmist predictions of China pursuing global hegemony. However, to alter deep-seated patterns of power politics drawing the countries toward conflict, the US needs to rebalance its China relationship by urgently addressing its own economic and political dysfunctions.
INTERVIEW
Eagle and dragon lock claws in mid-flight
Benjamin A Shobert talks to Aaron L Friedberg, the author of A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia
America's focus on the emerging challenge posed by China was first distracted by the "war on terror" and then the 2008 financial crisis, says author Aaron L Friedberg. In the meantime, Beijing advanced economically, developed asymmetric capabilities and grew assertive. China may not want to conquer Asia. However, it could extend a preponderant political influence over the region with dire consequences for the US.
THE ROVING EYE
An extreme traveler, Pepe's nose for news has taken him to all parts of the Pepe Escobar globe. He was in Afghanistan and interviewed the military leader of the anti-Taliban Northern Alliance, Ahmad Shah Masoud, a couple of weeks before his assassination
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Caixin Online
- China Lifts Punitive Reserve Requirement on Rural Cooperative Banks
- China Lifts Punitive Reserve Requirement on Rural Cooperative Banks
- More Chinese Oil Giants Wearing a Maple Leaf
- Political stability against the backdrop of Middle East risk has convinced Sinopec and others to invest in Canadian energy
- Boom, then Blowdown for Wind Energy's Sinovel
- Explosive growth marked the start-up years before mishaps and market conditions took a toll on China's wind power giant
Qihoo Says Misunderstood By Western Investors
Free antivirus software provider, Qihoo 360, says Western investors do not understand its business model or the Chinese internet market
Regulators May Be Loosening Monetary Strings
Credit restrictions continue to confound banks, but the days of tight monetary policy may be numbered in China
China's tight-minded policymakers have taken what appear to be the first, cautious steps away toward a more relaxed monetary course.
- Central Bank: Broadened M2 Reflects Abundant Money Supply
- China's central bank says it will continue to implement monetary policies due to abundant money supplies and persistent high inflation
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- Reviving loose monetary policy would reward speculators and redundant property developers while stoking inflation
Leaving the unexplainable unexplained
By Miu Zhe
The best way to make an interesting story boring is to explain it, which is why Dao Erdeng's storytelling enlightens and entertains readers yet offers no clear meaning
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- Failure for Beijing's Independent Candidate By Tom Hancock
- The local government decided the result of a village election, an independent candidate says
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- Podcast: Slum Clearance By Tom Hancock
- In Harbin, a cash-strapped city government claims ordinary housing districts are "slums", so they can be demolished to raise funds for social housing.
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- Podcast Special: China's Missing Children By Tom Hancock
- Parents of children abducted by officials in a rural Chinese county continue to defend their rights, with little hope of success.
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- The Interceptor Producer and Host: Friederike Böge
- Local governments in China are spending a substantial amount of their resources on stopping petitioners from going to Beijing. A new documentary film explains why
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- Podcast Special: Power To The People? By Tom Hancock
- Protests over a chemical plant in Dalian, and a murder case in Yunnan.In China, how powerful is public opinion?
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- Podcast Special: Inflation, China's biggest headache? By Tom Hancock
- Inflation is at a three year high, even after months of financial tightening. Can China afford more price increases?
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- Podcast Special: Alipayed off By Tom Hancock
- Alibaba and Yahoo finally reach a deal to share profits from Alipay, but is Jack Ma the real winner?
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- Caixin News Podcast July 28 By Tom Hancock
- Train crash and rail finance; Synohydro listing; SME tax breaks;housing market controls; China stocks
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- Podcast Special: Wenzhou train crash update By Tom Hancock
- Caixin reporters recorded close to the scene of the train crash which killed at least 36 people.
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- Caixin News Podcast July 15 By Tom Hancock
- GDP growth; economic rebalancing; inflation rise; officials ranked by debt; high-speed rail breakdowns; China stocks
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- Caixin News Podcast July 7 By Tom Hancock
- Interest rate increase; banking worries; Mongolian coal bid; Manufacturing growth slows; Oil spill; China stocks
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- Podcast Special: China's Debt Problem By Tom Hancock
- China's local government debt amounts to more than 10 trillion RMB, how serious are the risks?
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- Caixin News Podcast July 1 By Tom Hancock
- Local government debt; Wen Jiabao in Europe; new income tax threshold; adoption petitioners arrested; Siemens bribery case; China stocks
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- Podcast Special: Riot in Jeanstown By Tom Hancock
- Migrant workers riot in southern China, Caixin's reporter visits the scene
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- China's Hot Money Outflow
- Tim Condon, chief economist, head of research, Asia, ING financial markets, discusses how China's hot money outflow has caused the Chinese government to consider cutting the reserve requirement ration (RRR).
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- Analysis: Increasing U.S.-China Friction
- Mark Matthews, Head of Research Asia at Bank Julius Baer talks about why the US-China rhetoric is getting so heated.
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- Lieberthal on U.S. Presidential Campaign and China
- Kenneth Lieberthal, director of the John L. Thornton China Center at the Brookings Institution, spoke to Caixin about the foreign policy stances of U.S. presidential candidates and how China will factor into the 2012 election.
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- Marriott's Grand China Ambitions
- Simon Cooper, President and Managing Director, Asia-Pacific of Marriott International discusses the hotel chain's expansion plans in the mainland
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- Will China Bail Out Europe?
- Shaun Rein, managing director of China Market Research Group, says China is more likely to keep its war chest for itself than to offer it to Europe.
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- China to Maintain Property Curbs
- Martin Lamb, director of Asia Pacific Real Estate Investments at Russell Investments, talks about the Chinese State Council's decision to press on with property tightenign for the rest of 2011.He adds that property investors should look to tier-2 Chinese cities, because speculative activity is lower than in tier-1 cities.
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- High Labor Costs in China
- Shaun Rein, managing director of China Market Research Group, says Chinese companies are operating on razor thin margins and are getting hurt because of rising labor costs in China.
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- S&P Expects a Soft Landing in China
- Lorraine Tan, VP, Standard & Poor's Equity Research says China's domestic strength remains despite weakness in the external sector, and so expects more of a soft landing.
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- No Surprises in China GDP Data
- Mark Matthews, head of research Asia, Bank Julius Baer, discusses China GDP data and what it means for the economy
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- Investing into Chinese Consumer Space
- Vineet Sharma, head of consumer, Asia Ex-Japan Equity Research at Barclays Capital, advises to stick to market leaders in Chinese consumer sector.
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- Chinese Developers to Face Liquidity Risk
- Bei Fu, Director of Corporate Ratings at Standard & Poors, thinks that chinese developers will face liquidity risk because of uncertain sales prospects and questionable funding access.
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- Slowdown in China Not A Big Worry
- Donna Kwok, Greater China Economist at HSBC, thinks that the slowdown in China is government induced, and its debt is not a big worry because the government is capable of paying it.
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- Upbeat on China & India
- Andrew Pease, Investment Strategist at Russell Investment Group, says China and India are standout markets in Asia, in terms of value.
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- Dim Sum Bonds Look Appetizing
- Zhang Zhi Ming, Head of China Research at HSBC, says the recent correction in dim sum bonds offers a good entry point for investors
Caixin Photo Galleries offer a selection of the day's most important news photos and cultural images.
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- Dozens Protest Kunming Real Estate Company
- Dozens of protestors gathered outside the sales office of a Kunming real estate developer to protest its launch event. The demonstrators claimed that the developer, named Kunbai, was not honoring the terms of a recently-signed contract that gave customers the option to purchase property at certain discounted prices. Carrying large blue and white banners, the protestors blocked the entrance to the developer’s sales office, delaying the start of the event A scuffle with security officers ensued, before the officers locked the protesters out of the sales office altogether.
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- Vigil Held for School Bus Crash Victims
- One day after a nine-seater van full of 62 kindergartners crashed in Gansu Province--killing 19 children and both adults on board--local residents gathered for a candlelight vigil to mourn the victims. The accident has brought attention to the issue of school bus overcrowding and a general lack of school transportation oversight in China. Many children ride to school in unsafe conditions, varying from packed busses to overcrowded vans to open-bed trucks. Often those affected are China’s so-called "left behind" children, whose parents have left for work as migrant laborers in other cities. Chinese government officials have pledged to invest more money and to provide more oversight to combat the issue.
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- Ten Killed in Hunan House Collapse
- A house collapse in China’s Hunan Province left ten dead and twelve injured on November 14. The victims were gathering to prepare for the funeral of the homeowner’s deceased uncle, when the house collapsed on top of them. An investigation is currently underway to identify the cause of the collapse.
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- Deadly Explosion Rips Through Xi'an Restaurant
- A massive explosion at a fast food restaurant killed seven people and injured another 31 in the early morning hours of November 14, according to state media outlets. The explosion occurred around 7:30 a.m. during the morning rush hour in Xi'an, the capital of northwestern Shaanxi province. The victims were pedestrians walking by or waiting for a bus near the restaurant, and many were children. A Xi'an fire prevention bureau spokesman told Xinhua News Agency reporters that the explosion was an accident, caused by a liquid natural gas leak. State media also reported that the blast blew broken window shards as far as two to three kilometers from the site. Officials sealed off the area to guard against any more potential explosions or casualties.
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- Ruins of Illegal Real Estate in Fuzhou
- After a new road opened outside Fuzhou in southern Fujian Province, many passers-by noticed a strange sight: massive heaps of rubble covering the surrounding farmland. According to local residents in the nearby Wufeng Village, the rubble is from an illegal real estate development that the local Bureau of Land and Resources shut down and demolished in 2008. But in the three years since, there has been no effort to clean up the 20 acres of rubble that remain. When asked by a local reporter, officials from the administrative district responsible for the area said a lack of funds, as well as personnel changes, had delayed the cleanup. The officials promised that the rubble would be cleaned up, and that they would station guards around the rubble to prevent people from entering dangerous areas.
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- Changsha Cattle Graze on Garbage
- On November 6, reporters made a disturbing discovery at a landfill on the outskirts of Changsha, the capital of Hunan Province: more than a dozen cows grazing on rotten garbage. An expert quoted in the local media said that mold and heavy metals present in the Heimifeng landfill could render beef from the cows toxic to humans, and that local law prohibits livestock grazing at garbage dumps. But according to workers at the landfill, cattle from a nearby village are often allowed to graze on trash there. Ever-expanding landfills have become increasingly problematic in some parts of China, as they grow to encroach on cities and farmland. The Heimifeng site first opened in 2002 as the largest of its kind at that time, in China. According to an article in the state-run People's Daily, the site is outfitted to be environmentally-friendly, by trapping gas emissions given off by garbage and recycling it for heating, power generation and irrigation.
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- Officials Begin Destroying Millions of Fake Goods
- On November 6, officials began destroying 25 million counterfeit products seized over the past year from 182 major cities across China. The seized items covered the full spectrum of anything that could be copied: agricultural products like pesticides and seeds, industrial materials, designer brand clothing, food, drugs, books and CDs. Since November 2010, Chinese authorities have closed down over 22,000 counterfeiting operations and broken over 6,700 counterfeiting rings. In total, officials have seized over 18 million yuan in fake goods, according to the state news agency Xinhua.
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- "Villages in Cities" Torn Down for Affordable Units
- Earlier this year, the Ministry of Housing and Urban-Rural Development announced plans to build 10 million units of affordable housing in 2011, as part of a larger commitment to construct 36 million low-cost homes in the next five years. By the year’s end, reconstruction of sub-standard housing in cities (also known as “villages within cities”) as well as properties in state-owned industrial, mining, forestry and reclamation areas will yield four million new units. The slum reconstruction project commands a 500 billion yuan pricetag, 40 billion of which will come from the central government. The effort has come under scrutiny, however, because some local governments have also turned to tearing down and reconstructing regular housing in high-value locations, for the sake of raising funds. Some residents in Harbin's 18-year-old Youlian community, for example, have questioned why the government is tearing down their reliable homes, in the name of upgrading slums.
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- Photography Feature – The City Flows
- In the instant of a moment, the city changes. Beijing-based photographer Mo Yi has traversed the landscape of China's new urbanism by documenting both the integration and estrangement of its residents. Mo Yi's photography goes beyond capturing the expressions of urbanites, often tinged within difference in moments of movement, but also the experience of the city coded in black and white tonal contrasts. Photos Courtesy of Three Shadows Photography Art Centre
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- Shenzhou-8 Spacecraft Blasts Off
- In the early morning of November 1, China's unmanned Shenzhou-8 spacecraft blasted off from the Jiaquan Satellite Launch Center, which is based in the desert of Inner Mongolia. Soon after the launch, the commander-in-chief of China's manned space program declared it a success. Propelled by an upgraded Long March-2F rocket, the Shenzhou-8 reached its designated orbit as planned. Up next for the Shenzhou-8 is a rendezvous with the Tiangong-1 space module for a trial run at China's first in-orbit space docking. If the docking proceeds successfully, it will show that China's space program is capable of difficult in-orbit docking maneuvers, and enable Chinese scientists to proceed with plans to launch and dock the Shenzhou-9 and -10 spacecrafts in 2012 and finish a permanent space station around 2020. A spokesperson for the manned space program announced on October 31 that at least one of the 2012 missions will be manned, sending Chinese astronauts back into space for the first time since 2008.
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- Heavy "Fog" Cancels Beijing Flights
- A thick haze rolled into most of northeast China on October 30, lowering visibility and cancelling or delaying more than 150 flights out of Beijing Capital Airport. While state media quoted China's top environmental ministers as saying the air was “slightly polluted” that day, the U.S. embassy in Beijing went to the other extreme and posted issued its two highest air-quality warnings ("very unhealthy" and “hazardous”) via Twitter . Additionally, a local environment bureau advised citizens to stay indoors, if possible. The discrepancy in air quality readings and the state media’s use of the word “fog” to describe high levels of pollution led many to question just how polluted China really is. In response to the public outcry, an editorial in the state-affiliated Global Times on October 31 said that both local governments and the media must stick to accurate reporting when it comes to discussing fog and air pollution. "Local governments need to establish absolute authority over monitoring pollution without concealing information," the editorial said.
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- Seven Dead in Henan Coal Mine Blast
- A coal mine explosion in Henan Province has left seven miners dead, with 11 still missing. The accident occurred in the early morning hours of October 27, when a sudden and explosive pressurized gas leak sent an estimated 1,500 tons of coal flying, effectively blocking the mine shaft and delaying rescue efforts. Run by the state-owned Henan Coal Chemical Industry Group Co Ltd., the mine is located in the city of Jiaozuo. The accident comes almost a week after China's top official in charge of coal mine safety announced that coal mine deaths are down this year, with 27 percent fewer fatalities through the first nine months of 2011, compared to the same period in 2010.
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- Shanghai Homeowners Protest Price Cuts
- On October 23, about 300 early buyers of homes in a Shanghai real estate development gathered to protest at the developer’s office, following news that the company had dropped prices in the development by 6,000 yuan per square meter. After hearing that the company, China Overseas Property Group Co., would not cancel or refund contracts, the buyers scuffled with security personnel, causing minor damage to company property in the office. This latest markdown in real estate value is part of a general trend over the last few weeks, which has caused similar homeowner protests across Shanghai. Real estate prices in some parts of Beijing have also declined, and the government has hinted through its official news agency that further price drops may be necessary to curb China’s real estate bubble.
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