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All posts by RWZ

Xinhua: Central Inspection Work Found Local Governments Faked Economic Data

Xinhua recently reported that the Communist Party Central Commission for Discipline Inspection recently released a report that showed “issues” it had found in the provinces of Inner Mongolia, Jilin, Yunnan and Shanxi. The Twelfth Inspection Round was a “random patrol” on provinces and central-government-owned companies that had been inspected before. There have been “random patrols” done in 12 provinces already, as part of the “look-back” initiative. The new round discovered that a wide range of issues that were discovered in the previous round had not been properly remedied. Most importantly, some local governments in Inner Mongolia and Jilin were found to be faking official economic data. This new round of inspection resulted in some additional government officials being put under further investigation.

Source: Xinhua, June 12, 2017
http://news.xinhuanet.com/politics/2017-06/12/c_1121124767.htm

China Published 2017 Blue Book Report on College Graduates Employment

Web news media Zhejiang Province Online recently reported, based on information aggregated from various popular Chinese sources, on the newly published Blue Book Report on Chinese College Graduates Employment. An independent third-party publisher instead of the Chinese government compiled the Blue Book. The survey was based on a sample of 289,000 2016 college graduates. According to the Blue Book, 91.6 percent of the students were employed within six months of graduation. However, only 65 percent of them were satisfied with the work they found. The highest job satisfactory lies in the top-five categories: software development companies, colleges, the Communist Party or government branches, Airlines, and some other Communist Party or government related organizations. The average new college-graduate worker’s monthly salary was RMB 3,988 (around US$586). The Blue Book also shows that the most popular college majors welcomed by the employers were Software Engineering, Network Engineering, Communications Engineering, and Information Security. The least popular majors were Music Performance, Fine Arts, and Law School. The Blue Book also found that the attractiveness of the “First Tier” cities (Beijing, Shanghai, Guangzhou, and Shenzhen) had declined.

Source: Zhejiang Province Online, June 14, 2017
http://china.zjol.com.cn/ktx/201706/t20170614_4221755.shtml

Chinese Students in the U.S. Have the Highest Overstay Rate

Well-known Chinese news site Sina recently reported that, based on a recent study, in 2016 there were 25,486 Chinese visitors in the United States who overstayed without proper permission. Among these people, 7,545 were Chinese students on expired visas. Among students from all foreign countries, this number is the highest. The country that ranked number two is India (3,014); South Korea is number three (2,068). The statistics were based on an analysis of overstay visa data that the Department of Homeland Security released. The same study also showed that the type of visa that suffered the largest share of the overstaying population was the student visa, reaching 42,493 in 2016. That’s 2.74 percent of all student visa holders. The consequences of overstaying without proper permission can be quite severe. It may lead to a minimum three-year ban (typically it is a 10-year ban) from entering the U.S. One could also be banned from the right to status adjustments or to obtaining a different type of U.S. visa anywhere else except in the country of origin.

Source: Sina, Jun 17, 2017
http://dailynews.sina.com/bg/news/usa/usnews/chinesedaily/20170617/07277913562.html

The Paper: Criminal Activities Grew in Cheating on the National College Entry Exam

The well-known new Chinese news site The Paper recently reported that more and more advanced technologies are being used during the Chinese National College Entry Exam to help those who have decided to cheat on the Exam. This year’s Exam just completed a few days ago. The police have been busy jamming wireless signals around the official exam locations and chasing up and down the supply chain as well as the distribution channels of a massive amount of the high-tech cheating tools that criminal organizations provide. The technologies in the “cheating industry” upgrade rapidly. They have found their way into nearly all things that are allowed into the exam locations. Examples are drinking bottles with micro video cameras; communication devices hidden in watches, pens, erasers and eye glasses; electronics have been found in vests and belts connecting to the exam building conferencing system. Criminal groups run high power transmitters near the exam locations in order to support all these mobile devices. The cheating activities have been discovered across all provinces and have been growing.

Source: The Paper, June 7, 2017
http://www.thepaper.cn/newsDetail_forward_1702434

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China News: Around 20 Banks Have Stopped Making Home Loans

China News recently reported that the “first tier” real estate cities (Beijing, Shanghai, Guangzhou, and Shenzhen) have all been increasing home loan interest rates. Cities in the second and the third tiers are following suit. China has been tightening up the real estate market in an effort to control the ever-increasing housing prices. The banks are seeing a sharp decline in terms of business volume. Their response is to introduce an interest rate hike on those who will have to buy a home no matter where the market is heading. According to new market study statistics, out of 533 banks in the home loan market, around 170 banks have lowered interest rate discounts, 244 banks have switched to the standard (government set) interest rate, 20 banks have even stopped providing home loans. The Chinese government’s current policy of restricting home loans is taking effect. The housing market is expected to cool down and banks are expecting a much lower profit level.

Source: China News, June 10, 2017
http://www.chinanews.com/cj/2017/06-10/8247092.shtml

India’s GDP Growth Rate Surpassed China for Three Years in a Row

Well-known Chinese news site Sina recently reported that, according to the official numbers that the Indian government just released, India’s 2016 fiscal year GDP growth rate was 7.1 percent. This has been the third year in a row for India to have a higher growth rate than China. The Indian government and the private sector investments suffered a very slow growth rate, at two percent. However personal spending grew very strongly, at nine percent. In the meantime, based on the newly released numbers, India’s disruptive abolition of large bills near the end of 2016 did cause some negative impact on consumer spending. The World Bank estimated that India will enjoy a 7.2 percent growth in 2017 and 7.5 percent in 2018. The International Monetary Fund expects India’s 2018 growth will even reach 7.7 percent. Experts expressed the belief that India’s tax reform will bring growth in the future. China’s official 2016 GDP growth rate was reported to be 6.7 percent.

Source: Sina, May 31, 2017
http://finance.sina.com/bg/usstock/sinacn/20170531/22381606606.html

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