Source: Xinhua, April 10, 2011
http://news.xinhuanet.com/2011-04/10/c_121287373.htm
China Sends College Graduates to Work in Villages
Source: VOA, April 9, 2011
http://www.voanews.com/chinese/news/20110409-College-Students-Work-at-Grassroots-119530704.html
Banks’ Hidden Practice of High Quarter-end Rates to Lure Deposits
Source: Beijing Morning Post, April 11, 2011
http://www.morningpost.com.cn/xwzx/jjxw/2011-04-11/179314.shtml
Leadership Reshuffle in State Oil Giants
China recently appointed the top leaders of the state Sinopec Group and China National Offshore Oil Corp (CNOOC). Su Shulin, Party Secretary and General Manager of Sinopec, was appointed Deputy Chief of the Party Committee in Fujian Province. Fu Chengyu, Party Secretary and General Manager of CNOOC, was appointed Party Secretary and Chairman of Sinopec. Wang Yilin, Deputy Manager of China National Petroleum Corporation (CNPC), was appointed Party Secretary and Chairman of CNOOC. China is also using this opportunity to set up a board of directors at the two state oil giants, although their subsidiaries listed in domestic and overseas stock markets already have boards. Sometime later, a board will also be created for CNPC.
Source: Beijing News, April 12, 2011
http://epaper.bjnews.com.cn/html/2011-04/12/content_219795.htm?div=-1
VOA: Aircraft Carrier Varyag Sets a Milestone for the Chinese Military
Voice of America (VOA) recently reported that China’s first aircraft carrier is approaching the stage of final delivery. The report saw this as a major milestone in China’s effort to modernize its military –despite the fact that the aircraft carrier is just a refit of the long-retired Ukrainian aircraft carrier “Varyag.” It is widely believed that this new addition to China’s Navy will be used mainly for training purposes and as a reference for future aircraft carrier designs. The real-world battlefield capabilities are far behind the ship’s counterparts in today’s U.S. Navy. The VOA report also mentioned the worries expressed in the media on the part of China’s neighboring countries, such as Taiwan and South Korea.
Source: Voice of America, April 9, 2011
http://www.voanews.com/chinese/news/20110409-China-First-Aircraft-Carrier-119529679.html
People’s Daily on Internet Culture
Qiushi Journal, a bi-weekly magazine published by the Central Committee of the Chinese Communist Party, recently republished an article from People’s Daily on the phenomenon of Internet culture. According to the author, theoretical studies on this culture are far behind the reality of its rapid development. The article focused on the fastest growing portion of the domestic Internet market – online gaming – saying that the growth of the gaming industry should be limited. The author dismissed the view that Internet culture represents only a “virtual” world. He suggested that the virtual world is obviously interacting with the real world and concluded that, to a certain degree, “managing the virtual society amounts to managing the real one.” The author also expressed the belief that Internet-based enterprises lack deep cultural resources and called for help from the traditional culture industry. The article ended with the observation that the Internet culture is merging into mainstream Chinese culture.
Source: Qiushi Journal, April 5, 2011
http://www.qstheory.cn/wh/sxdl/201104/t20110405_75256.htm
Xinhua: Over 93% of Imports and Exports Rely on Sea Transportation
Xinhua recently reported on The Symposium Celebrating the 90th Anniversary of China’s Sailors’ Union in Beijing. The article stated that China now has over 1.55 million sailors; of those, 650,000 are seamen. Today, 93% of the transportation used for Chinese import and export industries is sea-based. Over 95% of all oil and 99% of all ironstone rely on water transportation. Currently, the scale of China’s water transportation fleet is the fourth largest in the world. It includes 184,000 vessels, which translates into a transportation capacity of 124 million tons. Mainland China now has 12 out of the world’s top 20 ports with an annual freight handling capacity of over one-hundred-million tons.
Source: Xinhua, April 6, 2011
http://news.xinhuanet.com/politics/2011-04/06/c_121273093.htm
State-owned AVIC buys US-based Nexteer
Source:
Xinhua, April 8, 2011
http://news.xinhuanet.com/2011-04/08/c_121283512.htm
http://www.nexteer.com