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Briefings - 1017. page

Official Report from the CCP’s Fifth Plenary Session of the 17th Central Committee

Xinhua published an Official Report from the CCP’s Fifth Plenary Session of the 17th Central Committee, which was held from October 15 to 18 in Beijing. The conference members listened to and discussed the CCP’s work report presented by Hu Jintao. The conference passed the twelfth five-year plan for the national economy and social development.

The Report stressed that “in current China, (we should) stick to the essential requirement that ‘development is of overriding importance.’” It listed many economic development strategies. It stressed the importance of developing culture and increasing China’s cultural soft power. It also stressed that the CCP’s leadership is the fundamental guarantee for future development.

Xi Jinping was elected to the position of Vice Chairman of the CCP’s Central Military Commission. [Ed: This is widely viewed as a step in preparation for Xi’s taking over the CCP’s top leadership position in 2012 when Hu Jintao’s term is over.]

Source: Xinhua, October 18, 2010
http://news.xinhuanet.com/politics/2010-10/18/c_12673082.htm

Briefings | | |   Government/Politics

China’s Twelfth Five-Year Plan Focuses on Seven New Industries

China News Service reported that the newly passed Twelfth Five-Year Plan delineated seven new industries for investment: new energy, new energy for automobiles, saving energy and protecting the environment, next generation IT (focusing on the Internet, cloud computing, and GIS), bio-technology, high-end equipment manufacturing (e.g. aerospace, ocean engineering, and satellites), and new materials.

Source: China News Service, October 18, 2010
http://www.chinanews.com.cn/stock/2010/10-18/2595370.shtml

Briefings | | |   Government/Politics

China Starts R&D on Super High-Speed Train

On October 19, Xinhua reported that China has started research and development on a super high-speed train that can exceed 500 km (310 miles) per hour. China has become the largest country with such a high-speed train capability and scale. At the end of September, China had two high-speed railroads under construction. One will cover 7,055 km and another over 10,000 km. On September 28, 2010, during a test run on the Shanghai-Hangzhou high-speed railroad, “Harmony” CRH308A, China’s own high-speed train, set a world record of 416.6 km per hour.

Source: Xinhua, October 19, 2010
http://news.xinhuanet.com/2010-10/19/c_12674953.htm

Briefings | | |   Economy/Resources

China News Service: New Record High for the Wealthiest in China

The Hurun Report recently published its 2010 list of the wealthiest individuals in China. The average wealth of the top 1,000 increased 26% from last year. The most rapid increases were in the medical, IT, retail, and apparel industries. The number of billionaires reached 1,363 this year, and 97 reached the 10-billion level. Ten years ago, those numbers were 24 and 1, respectively. Also, most of the wealthiest women in the world are from China. Out of the top 20 self-made female billionaires in the world, 11 are from China.

The Hurun Institute publishes the report. It is a "leading luxury publishing and events group," comprising a magazine and an active events business targeted at China’s high net worth individuals. It was established in 1999 by Rupert Hoogewerf. The Wall Street Journal (US Edition Jan 2008) commented that “people often aren’t considered truly rich until anointed by the Hurun Report.”

Source: China News Service, October 12, 2010
http://www.chinanews.com.cn/cj/2010/10-12/2580858.shtml

Briefings | | |   Economy/Resources

Ministry of Land and Natural Resources: Provincial Level Governments Accountable for Housing Prices

The Chinese Ministry of Land and Natural Resources recently announced that, in order to further implement State Council policies, the Ministry of Housing and Urban-Rural Development, the Ministry of Land and Natural Resources, and the Ministry of Supervision jointly decided that the provincial level governments will be held accountable for stabilizing housing prices. An assessment system will be established and there will be a follow-up for poor performance. The three ministries are demanding a nationwide increase in housing supplies as well as an increase in the speed of development of low-income housing projects. Effective land supply management is also a requirement and is being put under the monitoring program. Stronger market supervision was also mentioned in the announcement.

Source: China Review News, October 12, 2010
http://gb.chinareviewnews.com/doc/1014/7/2/0/101472005.html?coluid=45&kindid=0&docid=101472005&mdate=1012084341

Briefings | | |   Economy/Resources

Ministry of Commerce: China Now Africa’s Biggest Trade Partner

The Chinese Ministry of Commerce recently published the “Report 2010: Economic and Trade Relations between China and Africa,” in Chinese, English and French. The report claims that China is now Africa’s biggest trading partner, citing a $91 billion trade volume in 2009. In addition to the traditional infrastructure construction area, new developments in the relationship include finance, telecommunications, energy, tourism and aviation. The report includes a “Historic Review of the China-Africa Economic and Trade Relationship,” “The Relationship in 2009,” and “A Look into Year 2010.” This report is considered the first comprehensive annual report on China-Africa trade relations.

Source: People’s Daily, October 15, 2010
http://politics.people.com.cn/GB/1027/12961071.html

Briefings | | |   Geo-Strategic Trend

Xinhua: The U.S. Is the Only Country in the World That Can Truly Manipulate the Exchange Rate

According to Xinhua on October 9, 2010, the U.S. manipulation of the exchange rate will lead to a global currency war and a new round of global inflation.

Chen Fengying, Director of the Institute of World Economic Studies at the Institute of Contemporary International Relations, said that the United States is the only country in the world that can truly manipulate the exchange rate. Chen said, “Recently, the U.S. has again been vigorously pressuring for the appreciation of the RMB, and the U.S. media even released news of a ‘currency war.’ This is how the exchange rate is covertly manipulated.”

Cao Honghui, Director of Financial Markets at the Institute of Finance of the Chinese Academy of Social Sciences, said, “The United States manipulates the U.S. dollar exchange rate and also manipulates the exchange rate of other countries.”

Source: Xinhua, October 9, 2010
http://news.xinhuanet.com/2010-10/09/c_13549175.htm

Briefings | | |   US-China Relations

China Wants to Expand the Social Influence of the Party’s Newspapers and Journals

On October 14, People’s Daily reported on the annual video conference that had been held in Beijing on October 13, on the distribution work of the Party’s newspapers and journals.  

It was pointed out at the conference that the newspaper People’s Daily and the journal Qiushi (www.QSTheory.cn), as the official newspaper and journal of the CPC Central Committee, are important tools for shaping ideology and public opinion. Major Party newspapers and journals must be delivered into the hands of the majority of Party member cadres and ordinary people in a timely manner. The decision was made to continue to expand the area coverage and the social influence of the Party’s major newspapers and journals.

Source: People’s Daily, October 14, 2010
http://politics.people.com.cn/GB/1026/12948207.html

Briefings | | |   Information/Technology