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All posts by RWZ - 202. page

Xinhua: Bridging Financial Institutions and Culture Enterprises

Xinhua recently reported that nine government units, namely Peoples’ Bank of China, the Central Propaganda Department of the CCP, the Ministry of Finance, the Ministry of Culture, the State General Administration for Radio, Film & Television, the State Administration of Press & Publications, the China Banking Regulatory Commission, the China Securities & Futures Commission, and the China Insurance Regulatory Commission, jointly released a guidline on financial industry support of the culture industry. The report called for successful implementation of the guidline in three areas: (1) widely publicizing the policies; (2) establishing a smooth bridge between financial and culture industries; (3) carefully performing groundwork.

Source: Xinhua, April 22, 2010

Chinese Capital Needd a Better Looking Face

The International Herald Leader, under Xinhua, published an article suggesting that a better looking face is needed for Chinese capital going abroad. The article identified the Chinese economy’s rapid growth as the primary reason for Chinese to invest in the outside world. However, a negative image of Chinese investments is being built in some countries because: (1) the competitors are spreading negative views; (2) Chinese investors are not acting properly; (3) the industries receiving investments are tough; (4) some western countries spread slander.

The author believes Chinese capital must have a better image. It relies on the self-discipline of Chinese investors as well as media reports. Unfortunately western media have a monopoly and they are often the origin of false accusations.

Source: Xinhua, April 15, 2010

Guangdong and Hong Kong Jointly Building New Economic Region

Xinhua recently republished a report by China Securities Journal on an April 7 event in which the governments of Guangdong Province and Hong Kong signed a framework agreement of cooperation. The agreement focuses on improving Hong Kong’s status as an international financial center. It was made clear that the goal is to enhance Hong Kong’s leading position by integrating resources and services provided by Guangdong Province. The two sides agreed to jointly push the tests of cross-border RMB settlements with needed infrastructure. This is one step in exploring the path of the internationalization of the Chinese currency. Other important elements of the agreement are making the region a center for air travel, shipping, cargo distribution and human talent.

Source: Xinhua, April 8, 2010

Writers are not Telling the Truth

Modern Express News, a branch of Xinhua, recently published an article suggesting that today’s Chinese writers “owe this era” a lot because they don’t tell the truth. The article quoted a question by Tie Ning, the Chairman of The Chinese Writers Association, “I search my heart, and ask myself, as a writer, do my writings live up to the expectations of this great and tough era?" She did not explain more. The author of the article believed many writers are suffering from a serious decline of conscience. They write grand works to praise sham. The author concluded that the fact that most writers don’t tell the truth is turning society into one with a “quiet majority,” and critics should be truly respected.

Source: Xinhua, April 2, 2010

The Next U.S. War Target

Xinhua recently republished an article by PLA Life Magazine, authored by popular military commentator, Zhang Zhaozhong, on who will be the next U.S. war target. The article started with the story that the CIA helped Saddam Hussein obtain the ruling power and pushed the war against Iran. Then, after a failed war against Iran, the U.S. tacitly agreed to Saddam’s plan to invade Kuwait as a trap. The Bushes attacked Iraq to sustain control of the region by having a pro-US government. The war in Afghanistan afterwards was to completely remove Russia’s influence and to “put a knife in China’s back.”

The author considers Obama’s peaceful look to be a “political smoke bomb.” The article looked back into U.S. history and concluded that there was no US president that never had a war. Therefore Obama will not be an exception. Zhang predicts the U.S. will not let Iran be the strongest military power in the Middle East.

Source: Xinhua, April 6, 2010

Xinhua Published Five Commentaries on Local Government Land Sales

From March 28 to April 1, Xinhua consecutively published five commentaries against local governments on selling land to increase income. The key points of the commentaries were: (1) land-selling based local finance policies are an overdraft that’s not sustainable; (2) local governments must change the mentality of real estate speculation; (3) the entire government real estate approval process should be transparent to avoid corruption; (4) land monopoly causes vicious competition and pushes land prices up; (5) the high profit and immediate contribution to GDP (which is a major measurement of a government’s performance) discourages local government’s willingness to control housing price.

Source: Xinhua, April 4, 2010

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