Chinascope – Page 1071

Cultural Performances Draw in Overseas Chinese

Since 2009, the State Council’s Office of Overseas Chinese Affairs, a government agency that seeks to engage overseas Chinese, has organized an annual New Year’s performance, “Cultures of China, Festival of Spring” in 49 cities on six continents, with an overseas audience of 1.75 million. Programs have included patriotic songs, ethnic dances, and acrobatics.

The President of the New York based U.S.-China Cultural Exchange Association, Luo Man, said after watching the performance, “I have been immersed in the diverse culture of the U.S. for a long time, but my feelings always belong to the land where I was born and raised. This emotion is cast in blood and cannot be changed.”

The programs are designed to boost China’s global image, while winning the hearts of overseas Chinese. “As China’s economic and overall national power rises, so do the prejudices, misunderstandings, and mistrust of international society. When facing a complicated external environment, we must actively react to guide international society to form an objective and comprehensive ‘image of China.’”

Source: Qiushi, April 1, 2011
http://www.qstheory.cn/zxdk/2011/201107/201103/t20110329_74424.htm

Briefings | | April 4, 2011 | Geo-Strategic Trend

Globe: Chinese Banking Giants Intense Global Expansion

[Editor’s Note: An article from Globe, a bi-weekly publication of Xinhua News Agency, gives an account of how the expansion of Chinese banks overseas has been accelerating since the financial crisis. “Some people in the industry believe that, during the crisis, certain countries made it easier for foreign banks to set up shop in their countries in order to help their own financial industries. The relatively low cost of entering foreign markets provided a rare window of opportunity for Chinese banks.” Excerpts from the article are translated below.] [1]

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Reports | | April 3, 2011 | Report

CNOOC Acquires the Rights to a Uganda Drilling Area for US$1.467 Billion

On March 30, 2011, CNOOC (China National Offshore Oil Corp) announced that it had signed an agreement with U.K.’s Tullow Oil to acquire a one third interest in the company’s three drilling areas in Uganda. The transaction is a cash deal amounting to about US$1.467 billion. It is expected to close in the first half of 2011.

Source: China News Service, March 30, 2011
http://www.chinanews.com/ny/2011/03-30/2941922.shtml

Briefings | | April 1, 2011 | Economy/Resources

The Chinese Government ‘s White Book: China ‘s National Defense in 2010

On March 31, 2011, the Chinese government published the white book: China ‘s National Defense in 2010. This is the eighth time since 1998 that the Chinese government has published the national defense white book.

The book contains the following sections: introduction and the security situation, the policy of national defense, modernizing the PLA, using armed force, national defense mobilization and the development of backup forces, military law, the science and technology industry of national defense, funding national defense, establishing military mutual trust, military control, and disarmament.

The book laid out the aim and task of China’s National defense: to protect national sovereignty, security, and development; to maintain the harmony and stability of society; to modernize national defense and the army; and to maintain world peace and stability.

The book comprehensively discussed the multiple functions of national defense during peace time. It also emphasized adapting to new situations and proactively coping with various security threats.

Source: Xinhua, March 31, 2011
http://news.xinhuanet.com/2011-03/31/c_121252260.htm

Briefings | | April 1, 2011 | Government/Politics

People’s Daily: The West Should Abandon the Mindset of Leading the World

An opinion article on the People’s Daily website questions the purpose of Western countries’ military action in Libya. “The original idea of UN Security Council resolution 1973 was to stop violence and protect civilians." However, one wonders at the Western countries’ purpose. “Help the opponent obtain a military opportunity by striking the government’s army. This has led the conflict in Libya to escalate. Is this stopping the violence?” “Some Western countries directly fund and arm the opponents to achieve their goal of ‘overthrowing Gaddafi.’ Is this consistent with its emphasis that ‘the purpose is not to overthrow Gaddafi?’"

“In fact, behind the slogan of protecting civilians’ interests is protecting Western countries’ interests. … including economic interests and … Western leader’s mindset of leading the world from their bones.” “From their action toward Libya, … it seems there is a ribbon to bind them together, i.e. Western countries leading world affairs.”

The article concluded: “the future direction of Libya is not only to test how long Gaddafi can last, but also to test whether Western countries’ mindset toward the world will change.” 　　

Source: People’s Daily, April 1, 2011
http://world.people.com.cn/GB/14290933.html

Briefings | | April 1, 2011 | Geo-Strategic Trend

Challenges for China’s Sustainable Urbanization

[Editor’s Notes: The Red Flag Manuscript, a political and theoretical semi-monthly publication under Qiushi Journal, published an article by Bao Zonghao, Director of the Huaxia Social Development Research Center. Bao discusses eight challenges that China faces as it continues urban development. ] [1]

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Reports | | March 31, 2011 | Report

Hong Kong to Become the RMB Offshore Center

Premier Wen Jiabao reiterated Beijing’s support for Hong Kong to become the RMB offshore center, suggesting that Hong Kong should lead China’s financial reform. According to Hong Kong’s monetary authority, in 2010, a total of 36 billion yuan (US$5.5 billion) in RMB bonds were issued. China Merchants Bank President Ma Weihua said earlier this month that Hong Kong’s RMB deposits totaled 370.6 billion and may hit 2 trillion in five years.

Ba Shusong, a senior official at the Financial Research Institute under the State Council’s Development Research Center envisions a three-step process: 1) establishing channels for RMB inflow and outflow, with partial convertibility overseas; 2) setting up an offshore market in Hong Kong where RMB can circulate inside the region independently from the mainland; 3) Attracting RMB from Russia and Africa back to Hong Kong. Ba believes that if RMB deposits reach 2 trillion in Hong Kong, it will likely achieve self-circulation and Hong Kong will thus truly become the RMB offshore center.

Source: Chinese News Service, March 31, 2011
http://www.chinanews.com/cj/2011/03-31/2941967.shtml

Briefings | | March 31, 2011 | Economy/Resources

Hu Jintao Meets with Sarkozy, Calling for Ceasefire in Libya

When French President Sarkozy visited Beijing on March 30, 2011, Hu Jintao told him, “If the coalition’s military actions are harming innocent civilians, creating a greater humanitarian crisis, this violates the original intention of the UN Security Council resolution.” “We have always maintained that every country’s independence, sovereignty, unity, and territorial integrity should be respected, and have opposed the use of force in international affairs. … The ultimate solution lies in dialogue and other peaceful means.”

Hu further stated, “China supports all political efforts that are conducive to easing the current tension in Libya. We call on all parties to call an immediate ceasefire, seek a peaceful solution, and prevent more civilian casualties as soon as possible, to restore stability in Libya.”

Source: Xinhua, March 30, 2011
http://news.xinhuanet.com/2011-03/30/c_121249991.htm

Briefings | | March 31, 2011 | Geo-Strategic Trend

China’s Reaction to Trump’s Election Win

Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized