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China Uses 15 to 17 Percent of GDP to Pay Interest Each Year

According to an article the Jing Rong Jie (Financial World) website published, during the Tenth Chinese Mulan (Women) Entrepreneur Annual Conference held on April 14 in Beijing, Mao Zhenhua, the Founder and Chairman of China Chengxin Credit Management Company gave a speech in which he stated that, each year, China spends 15 to 17 percent of its GDP to make its interest payments. It is therefore facing an unprecedented economic and financial crisis. As a result, financial risk prevention has become the top priority for the country to deal with. According to Mao, with the large amount of capital injection following the 2008 world financial crisis as well as the country’s strong economic growth policy, China has emerged as the world’s economic power. However, China has also become the country that prints the most money in the world. Almost all the companies in China suffer from a huge amount of debt. Meanwhile China has surplus production and faces the issue that the supply is greater than the demand, as well as the issue of the price level of its stock and its real estate is too high. All of these have created an economic bubble that could lead to a financial crisis and therefore, in 2017, the government took tighter control of the economy. This control is expected to continue over the next few years.

Source: Jing Rong Jie, April 14, 2018
http://opinion.jrj.com.cn/2018/04/14225824390437.shtml

Beijing Public Security Bureau Claims 5,000 Spy Tip-Off Calls Received in One Year

Huanqiu carried an article that Beijing Evening News originally published on April 10. The article reported that, in the year since the Beijing Public Security Bureau issued a notice to reward citizens for offering information about suspicious spying activities, the bureau has received close to 5,000 calls. The article listed examples of a few reported spying activities. One involved a former classmate from a foreign country trying to obtain confidential academic information. A second one involved a person who was overseas attending an academic conference. The person was asked to provide confidential academic information in exchange for a permanent residence status. A third involved a Chinese cab driver who noticed a group of foreigners conducting suspicious activity near a restricted military area. The article claimed that the tipping hotline has received an increased number of calls and the end results have been effective. A VOA article reported that the monetary reward could be as high as 500,000 yuan (US$80,000) for each occurrence. When a VOA reporter called the tipping hotline, the operator who answered the call declined to comment on how many of the tips were eventually validated.

Sources:
1. Huanqiu, April 10, 2018
http://society.huanqiu.com/article/2018-04/11820948.html
2. VOA, April 13, 2018
https://www.voachinese.com/a/4345272.html

Duowei News: Repositioning the Party and Religion; How Communist China Fights the War of Ideology

Duowei News published an opinion article on recent events related to religious affairs in China. First, Xi’s new administration placed national religious affairs under the management of the United Front Work Department. Then, on April 3, the Information Office of the State Council issued a White Paper titled, “China’s Policies and Practices on Protecting Freedom of Religious Belief.” During the White Paper release conference, the Information Office claimed that, “The measure of the effectiveness of religious work is whether it can unite people with different religions with the party and the government and whether the religions in China are the ones with Chinese characteristics.” Finally, on March 30, the Bible was pulled from online stores in China. According to the article, with all that is taking place, it will be interesting to see how the communist party under Xi’s new administration fights the war of ideology and which side the Chinese people will choose: Marxism or a religious belief?

Source: Duowei News, April 8, 2018
http://news.dwnews.com/china/news/2018-04-08/60050593.html

Four Large Mobile News Apps Were Ordered to Terminate Their Services

Radio France Internationale reported that Cyberspace Affairs is enforcing tighter surveillance and control of online news sites. Recently four of the online news sites: Jinri Toutiao (Headlines), ifeng.com, news.163.com, and the ten cent news app were ordered to terminate their services due to a “standardization of communication order in accordance with law.” No specific violation was mentioned in the original official news article.

Source: Radio France Internationale, April 10, 2018
http://cn.rfi.fr/%E4%B8%AD%E5%9B%BD/20180409-%E5%9B%9B%E5%A4%A7app%E6%96%B0%E9%97%BB%E5%B9%B3%E5%8F%B0%E5%8F%97%E8%B4%A3%E4%B8%8B%E6%9E%B6%E5%AE%98%E6%96%B9%E6%8B%9F%E5%8A%A0%E5%A4%A7%E6%96%B0%E9%97%BB%E7%AE%A1%E5%88%B6

RFA: China Hires Neighborhood Administrators to Monitor Residential Neighborhood Activities

Radio Free Asia reported that China has divided neighborhoods into small blocks of about 15 to 20 households each and has assigned an administrator to manage each block. The neighborhood committee maintains close contact with the local police department and regularly reports “suspicious” movements going on in the neighborhood. Recently a hiring notice for the Residential Administrator of a neighborhood committee indicated that the administrators are required to know their assigned neighborhood, people’s housing situations, the basic infrastructure setup, the number of organizations in the neighborhood, the population and any potential risks. They also need to collect feedback from the residents and be prepared to assist and resolve conflicts. Each administrator is responsible for 15 to 20 families in the neighborhood. The administrators are also required to maintain confidentiality when going about their work.

A news report from last November showed that these administrators can make up to 5,000 yuan (US$796) a month. The money comes out of the stability maintenance fund.

Source: Radio Free Asia, April 10, 2018
https://www.rfa.org/mandarin/yataibaodao/meiti/ql2-04102018102215.html

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