Chinascope – Page 1103

China Business Times: U.S. Companies Responsible for China’s Real Estate Bubble

Huanqiu reprinted an article from China Business Times stating that U.S. Wall Street companies are responsible for the real estate bubble in China. China’s real estate bubble is being driven up by speculation on Wall Street. "They use all available tools, sometimes to sing the blues, and other times to flatter the Chinese real estate market. Their sole purpose is to make a profit.” Take MSREFIII International and MSREFIV International (both Morgan Stanley funds), for example. According to the article, 50% of their funds went to China where Morgan Stanley obtained Chinese government support and approval to jointly develop real estate with Chinese partners. They soon bought out their Chinese partners and took over control of the real estate. “They have now sold out their residential and office buildings. … Their profits on paper are at least 100%,” said the article.

Source: Huanqiu, October 15, 2010
http://finance.huanqiu.com/roll/2010-10/1172836.html

Briefings | | October 28, 2010 | Economy/Resources

China Central Bank: Price Increases Cannot be Ignored

China’s central bank, The People’s Bank, issued its third quarter economic analysis on October 27, 2010. The analysis states that, compared to the second quarter, the market fears of an excessive downturn in the economy have receded; China’s economy is showing clear signs of stabilization, but pressure on prices cannot be ignored. The pressure comes from price hikes in food, the reform of income distribution and resource prices, as well as uncertainty about bulk commodity prices in the international market.

Source: Xinhua, October 27, 2010
http://news.xinhuanet.com/2010-10/27/c_13578505.htm

Briefings | | October 28, 2010 | Economy/Resources

China Review News: Digesting the Twelfth Five-Year Plan

A China Review News article on October 24, 2010, reports that China’s Twelfth Five-Year Plan focuses on “transitioning.” It describes China’s current economy as having an imbalance between domestic and foreign demand, and expects this imbalance to reverse, that is, for domestic demand to rise, accompanied by a fall in foreign demand. The Plan targets a change from an economy featuring low-cost manufacturing to one with high value-added production.

The article lists five potential changes for the coming five years: 1. Economic growth decelerates and local government’s “GDP fever” pursuit cools down, as the eight percent GDP growth rate is no longer Beijing’s highest priority. 2. The domestic market is to expand, especially in the luxury goods and culture-related industries. 3. Rural areas are to see major development. 4. Economic prosperity is to shift from export-oriented coastal provinces to the central and the western provinces. 5. China is to develop new energy and “green” energy.

Source: China Review News, October 24, 2010
http://gb.chinareviewnews.com/doc/1014/8/2/6/101482660.html?coluid=53&kindid=0&docid=101482660&mdate=1024081019

Briefings | | October 27, 2010 | Government/Politics

PLA Live-Fire Exercise in Tibet

According to a People’s Liberation Army publication, the Tibet Military Region Command conducted a live-fire military exercise in late Fall, with the actual date not disclosed. The exercise took place at a 4,700 meter elevation and involved troops from the air force, armored units, artillery, and electronic warfare units. The exercise showcased fighter jets, armed helicopters, artillery, the electromagnetic system, a new type of tank, and a new air defense system that was just deployed to the military.

Source: The PLA Pictorial
http://www.plapic.com.cn/txt/201010b/20101005-1B.htm

Briefings | | October 27, 2010 | Defense/Military

China Celebrated the 60th Anniversary of the Chinese Army Joining the Korean War

China held a high-profile celebration of the 60th anniversary of the Chinese army joining the Korean war. The Commemoration conference was held at the Great Hall of the People in Beijing on October 25. Hu Jintao met with Korean War veterans prior to the conference. Xi Jinping, the newly-elected Vice Chairman of the CCP Central Military Commission, attended the meeting. Xi also gave a speech at the commemoration conference. In his speech, Xi paid tribute to the old CCP leaders, the North Korean government, and the USSR. Chinese media published articles to praise China’s achievements in the Korean war.

North Korea held a 30,000-person celebration in Pyongyang on October 25. Kim Jong-Il, King Jong-Un, and other top leaders attended the event. Guo Boxiong, the Vice Chairman of the CCP Central Military Commission, led a high-level PLA delegation to Pyongyang for the event.

Sources: Xinhua and Yangcheng Evening News, October 25, 2010
http://news.xinhuanet.com/politics/2010-10/25/c_13574855.htm
http://news.xinhuanet.com/2010-10/25/c_12700037.htm
http://news.xinhuanet.com/2010-10/25/c_12699947.htm
http://www.ycwb.com/ePaper/ycwb/html/2010-10/25/content_953589.htm

Briefings | | October 27, 2010 | Geo-Strategic Trend

China News Service: Online Public Opinion Influenced by Microblogging

The Public Opinion Research Lab of Shanghai at Jiao Tong University recently released a report that indicated that microblogging, as a new communication channel, is having an impact in influencing public opinion. The report took a look at the hot topics of the top 20 websites in the third quarter of 2010 and analyzed the coping abilities of local governments, companies, and individuals. Indexes included communication speed, communication skills, and communication effectiveness. The research showed that microblogging is becoming an effective channel for companies and individuals to provide information. In some instances, microblogging played a very important role in spreading messages. The report also found that government agencies were weak in terms of controlling communication and releasing information during crises.

Source: China News Service, October 20, 2010
http://www.chinanews.com.cn/it/2010/10-20/2598464.shtml

Briefings | | October 26, 2010 | Information/Technology

Xinhua: China’s Plan to Explore Mars Revealed

At the time of The Third China Space Technology Forum, the Chinese Academy of Space Technology (CAST) revealed China’s plan for exploring Mars. The plan is mainly based on the technologies used in the Chang-E Moon Satellite Platform. According to CAST experts, the Chinese plan reached a pretty high level compared to Mars exploration plans developed outside of China in recent years. Experts also indicated that the Chinese space activities targeting Mars will increase China’s power in the deep space technology race and shorten the distance from leading countries. This is considered the mission of the future Chinese space technology development.

Source: Xinhua, October 21, 2010
http://news.xinhuanet.com/2010-10/21/c_13569005.htm

Briefings | | October 26, 2010 | Information/Technology

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

Xinhua Commentaries: “Exposing the Three Major Political Deficits of the U.S.”

The CCP’s Performing Arts Troupes in the U.S.