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North Korean Officials: China Is within the Range of North Korea’s Nuclear Attack

Chosun.com  (a major news media in South Korea), reported that an official from the Propaganda Incitement Department of North Korea’s Labor Party Central Committee claimed, “The recent successfully developed new rocket Hwasong-12 (Mars-12) is a nuclear transportation vehicle that can conduct attacks on the entire China.” He made the statements during a speech to the Ryanggang Provincial Party Committee members on May 20.

The speaker stated, “Mars-12 has successfully put China within our missile network,” and “(We) don’t have to fear China’s sanctions against North Korea.”

A source familiar with the situation said, “(Our media) disseminated threatening statements to China such as ‘There is no restriction to our attacks and nobody in the world can survive our attacks.” “China must have known very clearly that these rude remarks targeted itself.”

Source: Chosun.com
http://cnnews.chosun.com/client/news/viw.asp?cate=C01&mcate=M1001&nNewsNumb=20170547694&nidx=47695

China Infuriated by G7 Summit Joint Bulletin’s Remarks on South China Sea

When responding to reporters, China’s Foreign Ministry spokesman Lu Keng announced that China is extremely dissatisfied with the G7 summit’s joint statement on the East China Sea and the South China Sea issues. He said that the G7 summit is dictating to China (on what to do) in the name of international law.

Lu said, “We hope that the Group of Seven and the foreign countries will recognize the situation and abide by their commitments not to take sides on controversial issues; fully respect the efforts that the countries in the region make to control disputes; stop issuing irresponsible remarks; and play a constructive role in the peace and stability in the region.

Source: People’s Daily, May 28, 2017
http://world.people.com.cn/n1/2017/0528/c1002-29305675.html

China Confirmed the Arrest of Lee Ming-cheh, a Taiwan Citizen

On May 26, An Fengshan, a spokesperson for the State Taiwan Affairs Office in mainland China confirmed that China has arrested Lee Ming-cheh, a Taiwan citizen. Lee is an employee of a Non-Government Organization and a former volunteer for the Democratic Progressive Party in Taiwan.

An Fengshan stated that Lee was involved in the crime of “subversion of state power” and thus the police from Hunan Province arrested him. “State Security took forcible measures against Lee Ming-cheh accordingly to the law. After interrogation, Lee and others admitted that they had conducted activities to subvert our state security.”

The Mainland Affairs Council in Taiwan responded that the mainland’s statement was obscure and thus did not seem convincing to the Taiwan people or to the international community.

Source: China Times, May 27, 2017
http://www.chinatimes.com/cn/newspapers/20170527000776-260301

People’s Daily: Russia Is an Important Strategic Partner in Building “The Belt and Road” Together

After talks with Russian Foreign Minister Sergei Lavrov, China’s Foreign Minister Wang Yi told reporters  that China regards Russia as an important strategic partner in building “The Silk Road Economic Belt and the 21st-century Maritime Silk Road” (also known as “The Belt and Road Initiative”) together.

Wang said that President Vladimir Putin recently visited China to attend “The Belt and Road Forum for International Cooperation” and made an important contribution to the success of the Forum. China regards Russia as an important strategic partner to build the “Belt and Road” and believes that Russia will play a unique and irreplaceable role in the process.

Source: People’s Daily, May 27, 2017
http://world.people.com.cn/n1/2017/0527/c1002-29305091.html

People’s Daily: The Japanese Factor in Cross-Strait Relations Will Exist for a Long Time

Wang Jian, a scholar at the Institute of Modern History at the Chinese Academy of Social Sciences, published an article in the Japanese Journal (2017, No. 2 issue) titled, “The Evolution of Taiwan-Japan Relations in the 21st Century,” with the subtitle, “The Structural Contradictions between Taiwan and Japan and the Factors Impacting Future Trends.” The article pointed out that since the start of the 21st century, the relationship between Taiwan and Japan has undergone a series of changes. In Chen Shui-bian’s administration, there were frequent interactions in the political and security areas. The tendency toward “jurisprudential independence” made the Taiwan crisis even more prominent. After Ma Ying-jeou took office, he started the “flexible diplomacy” and initiated the “special partnership between Taiwan and Japan Year” program. The relations between Taiwan and Japan showed an upward trend which continued after the East Japan earthquake. Today difficult-to-reconcile structural contradictions between Japan and Taiwan still remain, including fishing rights in the Douglas Reef (Okino Tori Shima), the export ban on food from five Fukushima counties to Taiwan, and the Taiwan-Japan EPA negotiations. After Tsai Ing-wen came to power, the contradictions started to “intensify.” Taiwan-Japan relations gradually come down to the reality of interests from the too high “expectations” from the past. The factors affecting the relationship such as the Sino-U.S., Sino-Japanese, Japan-U.S. and the cross-strait relations are also being adjusted accordingly, but they will have more uncertainty. From the perspective of the Taiwan DPP authorities’ choice of foreign policy, the future relationship between Taiwan and Japan will be closer. Their alliance for common interests to compete against China’s mainland is still the biggest variable.

Source: People’s Daily, May 28, 2017
http://world.people.com.cn/n1/2017/0528/c1002-29305819.html

China Responded to Moody’s Lowering of China’s Rating

China.com recently reported that major international rating agency Moody’s just downgraded China’s sovereign credit rating and expected its financial strength to weaken. The Chinese Ministry of Finance immediately responded that Moody’s had overestimated China’s challenges and underestimated the Chinese government’s capability to expand domestic demand. The Ministry suggested that Moody’s did not fully understand that the so-called “local government financing platform” and the debt that state-owned companies had would not actually increase the government’s debt. China’s primary news agency Xinhua also published a long commentary faulting Western rating agencies “traditional intent” to downplay China’s credit. Xinhua pointed out that the U.S. government fined Moody’s for “messing things up” during the financial crisis. Analysts of large Chinese commercial banks generally supported the government’s position and expressed the belief that Moody’s recent move was just business as usual and the impact would be very limited and marginal. China’s primary newspaper People’s Daily published a commentary as well. China’s own rating agency Dagong International questioned Moody’s motive and the timing behind its decision – China’s data in the past six months had just started showing a tangible recovery.

Source: China.com, May 24, 2017
http://news.china.com/international/1000/20170524/30563029_all.html#page_1

Chinese Currency Slid to Number Seven in Global Settlements

Well-known Chinese news site Sina recently reported that, based on the latest SWIFT (Society for Worldwide Interbank Financial Telecommunication) numbers, China’s currency was used in 1.6 percent of all of the world’s payment settlements. This is the lowest point since October 2014 and China’s rank slid to number seven (from number five). The Chinese currency peaked at 2.79 percent in 2015, with a rank of number four. SWIFT data showed that the Chinese currency internationalization went well until the first half of 2015. However, the trend slowed significantly after that; some indicators actually reversed. Experts expressed their belief that the obvious slowdown was the result of the slowdown pressure of the Chinese economy, the currency exchange rate fluctuations, as well as the atrophy of cross-border arbitrage activities.

Source: Sina, May 25, 2017
http://cj.sina.com.cn/article/detail/5839878256/262684?cre=financepagepc&mod=f&loc=3&r=9&doct=0&rfunc=100

China Uncovered the Largest Counterfeit Sports Shoes Case

Well-known Chinese news site Sina recently reported that the Chinese police declared success on resolving the largest case of counterfeiting Nike shoes. The case involved over half a million pairs of shoes, estimated to be worth more than RMB 600 million (around US$88 million). The case started near the end of 2015, when Nike China reported to the police of Anhui Province that it had discovered counterfeit shoes in the markets of the Middle East. Nike suspected the source of these shoes was in Anhui. The investigation that the report triggered eventually led to the discovery that the manufacturer was a factory under the Anhui Feiyu Group, which has two other legal shoe making factories. The factory making the counterfeits operated on a very large scale with a full chain of manufacturing, even including a quality assurance department. It also developed a complete wholesale and distribution network covering both domestic and global markets. The findings in the case revealed a highly professional criminal network. It could not have reached such a large scale without help from various levels of government branches across China.

Source: Sina, May 25, 2017
http://finance.sina.com.cn/consume/puguangtai/2017-05-25/doc-ifyfqqyh8267991.shtml