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Since the Start of 2017, Chinese Overseas Real Estate Investment Declined 84 Percent

Hong Kong’s Mainland-backed Phoenix New Media recently reported that, based on an analysis that Morgan Stanley Chase completed, the commercial real estate markets in New York, Sydney, and London may face serious challenges in the next two years. The primary cause of this warning is that Chinese investors have started withdrawing from overseas real estate markets. The Chinese government is tightening up capital control and commercial loans very quickly. Statistics showed that, since the beginning of 2017, the total of Chinese overseas real estate investment has declined 84 percent. The expectation is that an additional 18 percent drop will continue into year 2018. The same 2017 number that the Chinese Ministry of Commerce released was an 82 percent decline. According to statistics that the Chinese banking industry published, in the first half of this year, China’s total direct investment overseas showed a decline of 45.8 percent, to US$48 billion. In the second quarter, real estate pricing in Manhattan had already dropped 25 percent.

Source: Phoenix New Media, August 14, 2017

China Responded to U.S. Religious Freedom Report: Mind Your Own Business

China Central Television (CCTV) recently published a commentary on its official website responding to the Religious Freedom Annual Report that the U.S. State Department just released. The report pointed out that China, along with six other countries, had a bad record on respecting religious freedom. The Chinese government officially described this Report as “ignoring the facts and being flat out wrong.” The commentary used the recent Charlottesville, Virginia incident as an example of the “chaotic situation” inside the United States. The author suggested that the U.S. really has no moral authority to judge other countries. Even the U.S.’s own industrial leaders in the area of manufacturing resigned from the Trump Manufacturing Council. The commentator urged the U.S. government to give up its attempt to interfere with other nations’ internal affairs in the name of religious freedom and stated that, “Americans should really just mind their own business.”

Source: CCTV, August 16, 2017

China Withdraws Industrial Equipment from North Korean Rason Area

The DailyNK, a South Korean news site that focuses on North Korean activities, recently reported, based on its own sources, that hundreds of trucks filled with industrial equipment from the Rason region were lining up outside of Chinese customs, waiting to return to China. This occurred the second day after China banned two thirds of North Korea’s export products based on the UN sanctions resolution. The Chinese government has not yet ordered the evacuation of industrial factories. However, the Chinese factory managers in those factories have been very much concerned about the potential of becoming the target of North Korean retaliation. Locals worried that, if this trend continues, Rason city could quickly become an empty town. At the moment, many Chinese factory owners are still busy looking for trucks. Not long ago, China unexpectedly supported UN Resolution 2371. This move caused quite a few complaints among Chinese investors in North Korea since they were caught unprepared.

Source: DailyNK, August 17, 2017

China Economy: India’s Interest Rate Cut Exposed the Fragile Side of Its Economy

China Economy recently reported that India’s central bank just announced an interest rate cut. This is the first time since the end of last year that an Asian central bank has cut its interest rate. The cut brought India’s interest rate to a seven-year low. Apparently, the Indian economy is facing a serious challenge. Ever since Indian Prime Minister Narendra Modi’s banknote demonetization last year, India’s manufacturing and consumer spending has been suffering major declines. The Modi administration also started its tax reform in July, which caused serious chaos in India’s supply chains as well as distribution channels. It significantly worsened India’s commercial market to its “lowest point” since the global financial crisis. Although the tax reform may have some benefits in the long run, the solution for the immediate chaos should not depend on creating a distraction by triggering military disputes with neighboring countries, which will prove to be “extremely stupid.”

Source: China Economy, August 7, 2017

China News: University Dean Accused of Plagiarism after Copying Students’ Thesis

China News recently reported that Cai Jianchun, Director and Deputy Communist Party Secretary of Zhongshan Hospital at Xiamen University, Executive Deputy Dean of the Xiamen University School of Medicine, and winner of multiple national and provincial awards, was accused of directly copying his graduate students’ thesis for his own doctoral thesis. More than half of Cai’s doctoral thesis (in Polymer Chemistry and Physics) was a word-for-word copy of his students’ graduation thesis. Xiamen University said the university is currently conducting its own internal investigation. Cai also works at Fujian Medical University and some parts of his thesis were copied from students’ work of that University. Fujian Medical University refused to comment on this matter. Reporters have been trying to contact Cai using a number of channels of communication, but they could not reach him. Cai Jianchun is a very well-known oncologist in China.

Source: China News, August 10, 2017

The Paper: India Started Charging China Anti-Dumping Duties in 93 Categories

The well-known new Chinese news site The Paper recently reported that the Indian government started charging anti-dumping duties in 93 categories of products imported from China. The decision was made after key players in the Indian tire industry met with government officials. The 93 categories include products in a wide range of industries such as chemical and petrochemical, steel and other metal products, fiber and yarn, mechanical products, rubber or plastic products, power electronics and different types of consumer goods. India also launched an anti-dumping investigation in July on photovoltaic cells and modules from China, Taiwan, and Malaysia. India currently has a US$51 billion trade deficit with China. Indian media have been complaining about cheap Chinese products filling up the Indian market. However, reports from India’s own market study agencies showed that Indian consumers have preferred affordable Chinese products that typically are of better quality that India’s similar ones. According to the Chinese Ministry of Commerce, in the first half of this year, India became the country that had the largest number of anti-dumping investigations against China.

Source: The Paper, August 11, 2017

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