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Low Altitude Interception Systems Passed Inspection

China Review News (CRN) reported that the China Aerospace Science and Industry Corporation (CASIC) recently completed a test of the Slow Low-Altitude Small Target Detection and Interception System. The system is urgently needed in the domestic security market, which requires round-the-clock detection and high precision features.

The system is expected to be used at important conference sites, large gatherings and sensitive locations. According to the test results, the system is ready for real-world deployment.

Source: China Review News, August 23, 2010
http://gb.chinareviewnews.com/doc/1014/2/2/9/101422909.html?coluid=45&kindid=0&docid=101422909&mdate=0823090642

Briefings | | |   Defense/Military

Xinhua: Weaknesses of Chinese Social Security System

In a recent forum, Yin Weimin, Minister of Human Resources and Social Security, discussed four main weaknesses of China’s current Social Security System: (1) elderly unemployed city residents don’t enjoy any pension or monetary protection; (2) the aging traditional pension system still covers the government system and public institutions; (3) there is a lack of smooth connections between various social security related systems; (4) supplementary social protection systems are under very slow development and do not satisfy diverse market needs.

Yin suggested that a sound social security system is urgently needed for sustainable social development. The biggest unfairness is the fact that a large chunk of the population lacks basic social protection arrangements.

Source: Xinhua, August 23, 2010
http://news.xinhuanet.com/2010-08/23/c_12474383.htm

Briefings | | |   Economy/Resources

Wen Jiabao: The Biggest Danger for the Ruling Party is Corruption

In a recent State Council working conference, Chinese Premier Wen Jiabao required officials at all government levels to establish the concept of the rule of law and to strictly follow the Constitution and other laws. He emphasized that the biggest danger the current government now faces is corruption, and concluded that the result of it is ineffectiveness in the execution of laws and regulations.

Wen listed four points in his speech at the conference, mainly talking about openness and the democratic processes. The conference included officials in charge of the central government all the way down to the county level. Lawmakers and the court system also sent representatives to the conference.

Source: China Review News, August 27, 2010
http://gb.chinareviewnews.com/doc/1014/2/8/6/101428676.html?coluid=151&kindid=0&docid=101428676&mdate=0827203114

Briefings | | |   Government/Politics

Huanqiu: China Won’t Be Trapped in an Arms Race with the U.S.

According to an article published on August 20, 2010, on Huanqiu, the Chinese edition of Global Times, the purpose of the U.S. decision to send an aircraft carrier to the Yellow Sea for military drills was to lure China into an arms race with the United States so as to weaken China’s economic strength and induce China’s neighboring countries to contain China together with the U.S. 

“With rich experience in the international struggle, especially with a deep understanding of the former Soviet Union’s lessons, China will never be lured into an arms race with the United States.”

Source: Huanqiu, August 20, 2010
http://mil.huanqiu.com/Exclusive/2010-08/1032701.html

Briefings | | |   US-China Relations

China Is Diversifying the Allocation of Its Foreign Exchange Reserves

At the end of June, 2010, China had $2.4543 trillion in foreign exchange reserves. On August 24, 2010, China Review News reported that China has been implementing a strategy to diversify the allocation of its foreign exchange reserves.　　

According to the U.S. Treasury Department on August 16, China had reduced its holdings of U.S. Treasury bonds by $96.2 billion since July 2009.

Japan’s Finance Ministry announced on Aug. 9 that China had purchased 456.4 billion yen (about 5.3 billion U.S. dollars) in Japanese government bonds in June, which means that China has purchased Japanese government bonds for 6 consecutive months. For the first half year of 2010, China purchased a total 1.73 trillion yen in holdings of Japanese government bonds (about 20.2 billion U.S. dollars). Meanwhile, China has increased its holding of South Korea government bonds by 111%, up to 3.99 trillion won (about 3.4 billion U.S. dollars). In mid-July of 2010, the Chinese Administration of Foreign Exchange bought about 400 million euros in Spain’s 10-year bonds.

Source: China Review News, August 24, 2010
http://gb.chinareviewnews.com/doc/1014/2/4/1/101424122.html?coluid=53&kindid=0&docid=101424122&mdate=0824080231

Briefings | | |   Economy/Resources

China is the Largest Doctoral Degree Manufacturing Country without Quality Assurance

China Gate (http://www.wenxuecity.com/) republished an article from Changjiang Daily on August 24, 2010, claiming that China is the world’s largest doctorate manufacturing country.

China awarded more doctoral degrees than the U.S. in 2008. In the ten years from 1999 to 2009, the number of doctoral students increased from 54,000 to 246,300, a total of 4.56 times more. Statistics show that 46% of doctorate advisors guide more than 7 Ph.D. students and even as many as 47 Ph.D. students (not including master’s program students). Nearly 13% of doctoral students communicate with their advisors less than one time per month. Three percent of doctoral students said that they had never communicated with their advisors.

Source: Changjiang Daily, August 24, 2010
http://news.wenxuecity.com/messages/201008/news-gb2312-1150578.html

Briefings | | |   Grapevine

SARFT and China Eximbank Struck Deal on Financing Culture Exports

On August 26, China’s State Administration for Radio, Film, and Television (SARFT) and China Eximbank signed a Cooperation Agreement on Supporting and Fostering Key Export Oriented Radio, Film, and Television Enterprises and Projects. Under the agreement, over 5 years, China Eximbank is to provide 20 billion yuan or the equivalent in foreign currency financing support for radio, film, and television enterprises, in addition to multiple financial products and services.

Signers of the deal believe that the agreement, as part of fulfillment of the state’s strategy of Chinese culture “going global,” will help enlarge China’s share of film and TV products in the world market, boosting the nation’s cultural soft power.

In 2009, China sold more than 10,000 hours of TV programming to more than 100 countries, with a total export of US$80 million in film and other broadcasting products and services.

Source: Xinhua, August 26, 2010
http://news.xinhuanet.com/2010-08/26/c_12488797.htm

Briefings | | |   Government/Politics

Ministry of Culture and Agriculture Bank’s Strategic Cooperation

A strategic cooperation between the Chinese Ministry of Culture and the state Agriculture Bank was launched on August 26, at a ceremony where the latter joins the “Culture Industries Investment and Finance Public Service Platform,” a government initiative to help fund culture enterprises. According to Gao Shuxun, the Assistant to the Culture Minister, the central government supports the Bank-Ministry alliance and has become a new model for the financial institutes to support the development of culture industries.

On August 18, the Ministry and Agriculture Bank jointly issued a Notice of Comprehensively Strengthening Strategic Cooperation, which made clear the Ministry of Culture’s policy support of the Agriculture Bank to provide financial services to culture enterprises.

Source: Ministry of Culture website, August 26, 2010
http://www.ccnt.gov.cn/sjzz/whcys/cydt/201008/t20100826_81718.html

Briefings | | |   Government/Politics