All posts by LLD - 132. page

The government of Zimbabwe is looking to China to help fund its $27 billion plan to rebuild its economy. The Africa Report wrote on Wednesday that this fund would be more than twice the size of the economy of the impoverished southern African nation. The five-year plan will seek to improve basic services and revitalize the slowing economy.

On February 11, Zimbabwe’s Finance and Economic Development Minister Patrick Chinamasa and the Chinese Ambassador to Zimbabwe Lin Lin had signed the deal in Harare. As reported in People’s Daily, it included the loan amount of $23 million earmarked for the construction of clinics, primary and secondary schools in resettled areas acquired under the land reform program, as well as boreholes drilling and acquiring meteorological equipment.

Not revealing details, Chinamasa, who visited Beijing last month, said, "The government of the People’s Republic of China and the government of Zimbabwe are working towards a comprehensive financial package. (We) have committed ourselves to finalizing the matter within three months."

Zimbabwe had not been able to obtain funds from western governments and funding institutions such as the World Bank, as it had previously failed to repay billions of dollars in debt. Since 2005, the nation has adopted a “Look East” policy as a result, relying increasingly on emerging Asian economies to offset sanctions from traditional Western partners, People’s Daily reported.

China, on the other hand, is interested in the rich mineral resources in Zimbabwe, including the world’s second largest reserves of platinum, huge deposits of gold, alluvial diamonds, coal, and chrome. China had previously loaned nearly $700 million to Zimbabwe, in March 2011, the biggest package to date. In addition, last November, China’s Export Import Bank agreed to lend Zimbabwe $320 million to expand its Kariba hydro-power plant.

Source: BBC Chinese, February 11, 2014
http://www.bbc.co.uk/zhongwen/simp/china/2014/02/140211_zimbabwe_china.shtml

The following is from a recent Xinhua report about the Confucius Institute at The University of Sheffield, UK.

"In 2004, the first Confucius Institute was set up. Along with the development of China, within just ten years, Confucius Institutes and Confucius Classrooms have emerged all over the world. Data shows that, as of now, 120 countries and regions on five continents have established 440 Confucius Institutes and 646 Confucius Classrooms, with 850,000 registered students."

"The management and operations of the Sheffield Confucius Institute at the University of Sheffield, UK is a cooperation of the University of Sheffield, the Beijing Language and Culture University, and Nanjing University. For nearly seven years, it has been an important center for the Chinese and English languages and cultural exchanges in the central and northern UK."

Zhao Xia, the Director of the Sheffield Confucius Institute and a Lecturer at the School of East Asian Studies of the University, stated, "We have partnered with the Sheffield City Council to organize three ‘out of the bookshelf’ Literary Festivals. We have also collaborated with the Sheffield City Department of Children and Family Services to hold Chinese traditional festivals and cultural activities at 26 libraries. Meanwhile, a number of activities and projects have been initiated, such as the Chinese New Year Painting Competition, the Chinese style photo contest, and library activities." In 2013, the Sheffield Confucius Institute held 149 cultural activities, reaching 18,000 people."

Wang Zhimin, Deputy Director of the Institute and a Professor from the Beijing Language and Culture University, added, "The Confucius Institute offers an opportunity for many Western students to understand Chinese culture and get in touch with Chinese music, movies, and other art forms." "China’s development supports and needs the global promotion of Chinese culture. We should be mindful of the current situation and fulfill our historic mission."

Source: Xinhua, February 10, 2014
http://news.xinhuanet.com/2014-02/10/c_119264730.htm

On November 22, The China Arts and Entertainment Group (CAEG) and IMG Artists announced a new joint venture – Sino America Global Entertainment (SAGE) – effectively the largest private, performing arts partnership between the United States and China. Liu Yandong, Vice Premier of the State Council, and Ding Wei, Vice Minister of the Ministry of Culture oversaw the official signing during a Symposium held at Carnegie Hall in New York. Dignitaries and executives from the leading arts, education, and culture institutions in New York were in attendance.

IMG Artists LLC is a leading universal performing arts management corporation with diverse lines of business. IMG Artists’ capabilities include the management and touring of world renowned musicians, dance companies, orchestras, and attractions, as well as consulting and advisory work for independent clients, arts institutions, concert halls, and culturally engaged corporations.

According to CAEG’s website, "China Arts & Entertainment Group (CAEG) is a large State-owned cultural company, and one of the four national model bases for cultural exports affirmed by the Ministry of Culture. CAEG so far has organized 290 programs and 21,000 performances in some 60 countries and regions, attracting more than 28 million audience members. The group has 19 wholly-owned companies at home and abroad."

According to Zhang Yu, president and general manager of CAEG, the mission of CAEG is to have Chinese culture "go global." With SAGE, Chinese cultural programs can reach mainstream audience in North America via operations such as North American business tour, "Chinese Culture Week," and "Chinese Cultural Festival." But there is a greater significance. "For a long time, the landing of our cultural and arts products overseas has depended almost entirely on foreign performing companies. Although this avoided risk, we lost the autonomy of our cultural products. As we could not reach the end consumers, we were not able, on a fundamental level, to enter the market and effectively compete. The launch of the joint venture allows us to be effective in localizing the operations in New York, the center of world’s performing arts, and other parts of the North America market, so as to transition from the model of relying on local performing companies to directly facing the end consumers."

SAGE will build new platforms for global entertainment and performing arts initiatives including international arts festivals, talent exchange, sharing of local market expertise and more.

Source: Xinhua, December 3, 2013
http://news.xinhuanet.com/2013-12/03/c_118393477.htm