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Briefings - 1264. page

Provincial Officials to Receive Advanced Training in US

On December 27, the University of Utah accepted 23 officials from Hainan Province. In a week they will depart for a year and half long program resulting in an Executive Master’s in Public Administration (EMPA). As part of their five year training plan which will consist of 18 programs launched by Hainan Province, these officials were selected to receive advanced study so that they will obtain “leadership and executive ability; strategic and global vision; and financial management skills under the market economic environment,” said Wei Liucheng, the provincial party secretary of Hainan.

Source: Xinhua News Agency, December 30, 2007
http://news.xinhuanet.com/local/2007-12/30/content_7339313.htm

Briefings | | |   Government/Politics

Emergency Fund Issued To Aid College Student Cafeterias

On December 29, the Ministry of Finance approved a 50 million yuan (US$6.8 million) emergency fund to provide temporary aid to college student cafeterias. It is to ensure that, prior to the upcoming winter break, students’ lives will not be affected by the increased price of raw materials. Earlier this year, the General Office of the State Council issued a notice to various levels of governments to provide financial relief to student cafeterias and those students who are on financial aid. In addition, the National Development And Reform Mission also requested the students’ receive discounts in college utility expenses.

Source: China News, December 30, 2007
http://edu.chinanews.cn/edu/kong/news/2007/12-30/1119587.shtml

Briefings | | |   Economy/Resources

Former Secretary of The Deceased Vice Premier May Face Death Sentence

Wang Weigong, former secretary of the deceased Huang Ju, Executive Vice Premier of China was arrested for corruption involving Shanghai’s social security funds and may face a death sentence. The scale of corruption was reported to be as high as 45 million yuan (US$6.1 million), which is the largest known amount of corruption. It was reported that Wang has refused to disclose any other names involved in this case including Jiang Mianheng, the son of Jiang Zemin, former President of China.

Source: Powerapple, December 29, 2007
http://news.powerapple.com/article/2007/1229/article_33729.html

Briefings | | |   Government/Politics

China’s Economy is Not as Robust as We Think

On December 20, 2007, the International Herald Leader under Xinhua published an article calling on western countries to reconsidertheir their strategy in pushing for an adjustment in the RMB exchange rate. The reason: a World Bank study found the Chinese economy is overestimated by about 40 percent.

Briefings | | |   Economy/Resources