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At a State Think Tank Conference, China’s Real Estate Companies Asked for Help

The Development and Research Center of the State Council is a policy research and consultation institute under the State Council. On November 9, it held a conference with several real estate developers and banks in Shenzhen in order to talk about the real estate situation in China.

At the meeting, a representative of the Kaisa Group (佳兆业集团) asked for help stating that the company is facing great difficulties, including a tight cash flow, a complete loss of investment capability, continuous credit downgrading, and the fact that Chinese banks’ have stopped providing loans.The Kaisa representative expressed that, without external help, the company may cause a chain reactions of work stoppage and unfinished construction.

(Editor’s Note: Several Chinese media, including the communist party controlled Ta Kung Pao in Hong Kong, reported this news, but they later removed their articles.)

Source: Secret China, November 9, 2021
https://www.secretchina.com/news/gb/2021/11/09/989065.html

Briefings | | |   Economy/Resources

Ten Explosions in One Week in China

Recently the Chinese media reported that ten explosions occurred in China in the period from October 21 to 27.

  1. October 21: Shenyang City, Liaoning Province had an explosion that impacted 2,000 households in the neighborhood. (See Chinascope briefing: A Huge Explosion in Shenyang)
  2. October 22: A chemical plant in the Alashan League High-Tech Industrial Development Zone, Inner Mongolia, exploded in the middle of the night.
  3. October 24: There was an explosion on the top floor of a residential building in Dalian City, Liaoning Province.
  4. October 24: A lab at the Nanjing University of Aeronautics and Astronautics, Jiangsu Province, had an explosion.
  5. October 25: An explosion occurred on the food vendor street outside the Huangdao Campus of Shandong University of Science and Technology, Qiangdao, Shandong Province. The whole street was burned out.
  6. October 26: An explosion occurred at Shandong Ding Ding Chemical Technology Co. in Zibo City, Shandong Province.
  7. October 26: An explosion occurred in a residential building in Nanchang City, Jiangxi Province.
  8. October 26: Nine fishing boats caught on fire in Zhuhai City, Guangdong Province.
  9. October 27: A building under construction in Tianjin City was caught on fire.
  10. October 27: A fire broke out at a factory building and the hotel next to it in Zhongshan City, Guangdong Province.

Political commentators expressed the thought that it was abnormal to see so many explosions or even the intensified reporting on the explosions, as the Chinese Communist Party tends to filter out negative news to portray a “stable” society.

Source: Epoch Times, October 31, 2021
https://www.epochtimes.com/gb/21/10/31/n13342305.htm

Briefings | | |   Government/Politics Social Stability

Beijing Issued a “Food Conservation Action Program”

On October 31, the General Office of the Chinese Communist Party (CCP) Central Committee and the General Office of the State Council issued a “Food Conservation Action Program.”

It has the following sections:

  1. Overall requirements
  2. Improve the conservation and loss reduction in the agricultural production chain
  3. Improve the loss reduction in food storage
  4. Improve the loss reduction in food transportation
  5. Improve the conservation and loss reduction in food processing
  6. Resolutely curb the waste in food and drink consumption
  7. Push for innovation on food conservation and loss reduction
  8. Strengthen the propaganda and education on food conservation and loss reduction
  9. Strengthen the food safeguarding measures

Source: China’s Government Site, November 1, 2021
http://www.gov.cn/zhengce/2021-11/01/content_5648085.htm

Briefings | | |   Economy/Resources

Does Ruili City Need Help?

Ruili City in Yunnan Province is a key port city bordering Myanmar in southwest China. It has been locked down five times since last year due to Covid. The former Deputy Mayor Dai Rongli recently posted an article on the Internet stating that Ruili residents have suffered severely. He appealed to the government to provide aid to the city and its people.

This article spread widely among Chinese netizens.

The current Ruili Mayor Shang Labian responded that the article was only one person’s opinion and it used out-of-date data. He said that Ruili does not need support from other places. (Note: Communist Officials generally do not want negative exposure.)

Mao Xiao, the Party Secretary of Ruili’s Party Committee also said that the higher-level government has already provided them with a lot of support.

Many netizens from Ruili also posted comments on the Internet, stating, for example, “The mayor does not need help but I need help.”

Sources:
1. Lianhe Zaobao, October 29, 2021
https://www.zaobao.com.sg/realtime/china/story20211029-1208156
2.  Epoch Times, November 2, 2021
https://www.epochtimes.com/gb/21/11/2/n13347206.htm

 

Briefings | | |   Government/Politics Social Stability

Nine Chinese Real Estate Companies Missed Their U.S. Dollar Debt Payments

Sina reported that on October 26, China’s Foreign Investment Department of the Development and Reform Commission, together with the Capital Department of the Foreign Exchange Bureau, held a forum with some key industry players to discuss their foreign debts.

Nine Chinese real estate companies have missed the payments on their U.S. dollar debts, including Oceanwide Holdings (泛海控股), Fantasia (花样年), China Fortune Land Development (华夏幸福), Sunshine 100 China (阳光100中国), The Tianfang Group (天房集团), The Sannong Group (泰禾集团), Sinic Holdings (新力控股), Languang Dev (蓝光发展), and Modern Land (当代置业). The combined unpaid debt is US$ 28.073 billion.

Source: Sina, October 27, 2021
https://finance.sina.com.cn/china/2021-10-27/doc-iktzqtyu3754338.shtml

Briefings | | |   Economy/Resources

Xi Jinping’s Speech at the PLA Military Equipment Conference

The People’s Liberation Army (PLA) Military Equipment Conference was held in Beijing on October 25 and 26. At the conference, Xi Jinping gave a key speech.

Xi said, “I hope that comrades implement the Party’s thinking about building a strong army, … and that they build the management system for weapons and equipment modernization in order to make positive contributions to the PLA’s one hundred year anniversary (August 1, 2027).”

Zhang Youxia, the Vice Chairman of the Chinese Communist Party’s (CCP’s) Central Military Commission, said, “We must focus on national security needs, keep an eye on the realistic military struggle, focus on technological self-reliance and self-improvement, and make every effort to speed up the modernization of weapons and equipment, to advance the PLA’s weapons and equipment work to another great level.”

Source: People’s Daily, s Daily, s Daily, October 27, 2021
http://paper.people.com.cn/rmrb/html/2021-10/27/nw.D110000renmrb_20211027_2-01.htm

 

Briefings | | |   Defense/Military

China’s Chairman of National People’s Congress: We Resolutely Reject Western Constitutionalism

On October 23, Li Zhanshu, who is a member of the Chinese Communist Party Politburo Standing Committee and Chairman of the National People’s Congress gave a speech at the closing ceremony of the 31st meeting of the People’s Congress Standing Committee.

Li stressed, “First, we must adhere to the Party’s overall leadership as the highest political principle, resolutely uphold the authority of the Party Central Committee and its centralized and unified leadership … . Second, we must unswervingly follow the path of Socialism with Chinese Characteristics. … We must not give up the fundamental nature of China’s political system and (must) resolutely oppose, resist, and prevent the erosive influence of the ‘constitutionalism,’ multi-party elections, separation of powers, the bicameral system, and the independence of the judiciary that exists in the West …”

Source: People’s Daily, October 24, 2021
http://politics.people.com.cn/n1/2021/1024/c1024-32262271.html

Briefings | | |   Government/Politics