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Bank of China to Enter the News Industry

Bank of China is set to enter the news industry and make it a key sector of the bank’s 2009 operational plan, according to Wang Zhaowen, the spokesperson of Bank of China. Bank of China foresees the news industry as a potential sector with growth opportunities and wishes to provide comprehensive services including banking, security, insurance, investment and financial consulting.

Source: Securities Daily, March 23, 2009
http://media.people.com.cn/GB/40606/9007075.html

Outlook Weekly Praises the Progress of US-Sino Relationship and Warns the Obstacles Ahead

A commentary by the Outlook Weekly calls the meeting between Obama and Hu one of the highlights at G20. Two major milestones were achieved from the meeting, the article cited, “building a positive, cooperative and comprehensive relationship in the 21st century” and “establishing a Strategic and Economic Dialogue group”. It named the meeting a historic event which “has set a stage and tone of US-Sino relationship in such a swift and highly efficient manner and carries a significant meaning on the future development of both sides”.

The article also warned a few obstacles along the path including the actions taken by US congress on Tibet and Taiwan issues, Pentagon’s “intention to stir up the South China Standoff” as well as some “anti-China force continues to embark on the trades and currency issues”.  It concludes that the future of US Sino relationship remains a major task for both countries to resolve.

Source: China News, April 7, 2009
http://chinanews.com.cn/gn/news/2009/04-07/1634477.shtml

Xinhua report: “Mutated” Protectionism Attacks “Made In China”

International Herald Leader, under Xinhua News, reported from Beijing that traditional protectionism is no longer the primary weapon against China. Some countries are attacking “Made in China” with “mutated” protectionism.

European and American countries are currently hiding protectionism behind accusations raised by their NGOs. Examples are attacks under the names of “animal protection” and “labor rights”. The Xinhua report concluded that, the goal of this kind of “hidden” protectionism is to reduce imports from China. The report also suggested that Chinese NGOs should fight back by various means.

Source: Xinhua Net, March 31, 2009.
http://news.xinhuanet.com/herald/2009-03/31/content_11104980.htm

Six Industries Enjoy Increased Export Tax Rebate Rate

The International Finance News for Chinese state media People’s Daily reported that six industries started to enjoy increased export tax rebate rates on April 1. The six industries are Apparel and Textiles, Light Industry, Electronics and Information, Steel, Nonferrous Metal, and Petrochemical.

This is the second time China has increased export tax rebate rates this year. Export companies welcomed the move in general. However, some suggested that due to the decline of exports they tend to sell more goods to the domestic market. Also, due to the international financial crisis, the rate increase may result in more anti-dumping investigations.

Source: International Finance News/People’s Daily, April 1, 2009.
http://finance.people.com.cn/GB/1037/9060251.html

Zimbabwean First Lady Enjoys Immunity in Hong Kong

Although Hong Kong police have enough evidence to bring Zimbabwe’s first lady Grace Mugabe to court, she will not be prosecuted, according to the Hong Kong Department of Justice. Mugabe attacked and hurt British reporter Richard Jones on January 15. According to the Hong Kong Secretary of Justice, the decision was made by the Chinese Ministry of Foreign Affairs, who decided that Mugabe enjoys diplomatic immunity.

Many Hong Kong human rights organizations and Legislative Council members argued that Mugabe was on a tourist trip, not a diplomatic mission, when she conducted the attack. They also expressed deep concerns regarding the Hong Kong government’s inability to stand for human rights while yielding to Beijing’s pressure in support of dictators.

Source: Epoch Times, April 1, 2009.
http://epochtimes.com/gb/9/4/1/n2480942.htm

Debate: Is Sichuan Earth Quake Related to Zipingpu Dam?

After Science magazine published an article “Seismology: A human trigger for the great quake of Sichuan?” (January 16, 2009 edition), China Daily interviewed a scholar of the China Engineering Academy, Chen Houqun, to rebut the point of the Science article, that Zipingpu Dam contributed to the earthquake.

BBC Chinese then pointed out that there are many obvious loopholes in Chen’s rebuttal and listed those loopholes in detail. It also pointed out that there are several indications that the Chinese government was aware of the earthquake and had taken certain actions to prepare for it, including releasing the water from Zipingpu Dam, which can be concluded from Chen’s statement, as well. But the Chinese government didn’t announce the earthquake to the public and continues to deny its awareness.

Source: BBC Chinese, April 1, 2009
http://news.bbc.co.uk/chinese/simp/hi/newsid_7970000/newsid_7976600/7976693.stm

Xinhua: Panchen Lama’s English Shocked the World

Xinhua reported the following. On the opening of the Second World Buddhist Forum on March 27, 2009, the 11th Panchen Lama Qoigyijabu gave a speech in English. His English skills “shocked” the eminent monks and cultural elites at the conference. He took at least two English lessons each week.

Xinhua also quoted reports from other media sources. According to Xinhua, Ta Kung Pao said that the Panchen Lama’s good English is helpful to promote Tibetan Buddhism overseas and to clear the outsiders’ misunderstanding of Tibet and Tibetan Buddhism. Xinhua said Reuters stated that the “Chinese government chosen” Panchen Lama is the critical tie for Tibetans to stay loyal to the central government. Xinhua also offered Sing Tao’s comment that “Under the official arrangement, the 19-year old Panchen Lama is moving quickly to the front stage.”

 

Chinascope Editor’s note: Panchem Lama is the second highest religious position in Tibet. After the death of the 10th Panchen Lama, the Dalai Lama proclaimed Gedhun Choekyi Nyima as the 11th Panchen Lama. However, the Chinese government named their own 11th Panchem Lama, Qoigyijabu, whose parents are both Chinese Communist Party members.

Source: Xinhua, April 2, 2009
http://news.xinhuanet.com/herald/2009-04/02/content_11118684.htm

China Formally Announced Its Intention to Build Aircraft Carrier

The Xinhua online forum reported that during his meeting with the Japanese Defense Minister Yasukazu Hamada, the Chinese Minister of National Defense, Liang Guanglie, expressed his intention to build an aircraft carrier. Xinhua stated that this is the first time China has made an official announcement on this issue.

Source: Xinhua, March 21, 2009
http://forum.xinhuanet.com/detail.jsp?id=64963696

In early March, Xinhua published several news articles to prepare for the open announcement, including interviews with retired high-ranking military officials, statements from navy commanders, and quotes from foreign newspapers regarding China’s intentions of building the aircraft carrier. Those articles include the following:

http://news.xinhuanet.com/mil/2009-03/04/content_10938392.htm
http://news.xinhuanet.com/mil/2009-03/06/content_10954617.htm
http://news.xinhuanet.com/misc/2009-03/06/content_10953807.htm
http://news.xinhuanet.com/world/2009-03/08/content_10968282.htm
http://news.xinhuanet.com/mil/2009-03/10/content_10979871.htm