Chinascope – Page 555

Duowei News: More Shakeups in Financial Industry Expected Prior to 19th Congress

Duowei News published an article reporting that, on April 9, the Central Commission for Discipline Inspection took down two senior officials in the financial industry due to corruption charges: Xiang Junbo, Chairman of the China Insurance Regulatory Commission and Li Changjun, director of the Beijing branch of the Export–Import Bank of China. According to the article, the move is an indication that Beijing has reached its limit in dealing with financial disasters that have taken place in the past and which have caused quite an embarrassment. It has determined that, prior to the upcoming 19th National Congress, it will shake up the financial industry to ensure that it “maintains the same understanding as the Central Administration.” The article stated that the Chinese official media praised the Party’s determination in its anti-corruption effort. The Hong Kong media, however, indicated that these two individuals were targeted because it was their “inside job” in the financial industry which caused a number of financial disasters over the past years: the stock market crash in 2015 and the battle between Vanke and Baoneng over stock ownership in 2016. The article further explained that, “The analysis shows that reforming the Chinese financial market is no less complex than unifying ideology within the Party or reforming the military… it is expected that Beijing will launch an anti-corruption effort on an even larger scale to eliminate completely any inside dealings that are contrary to its direction.”

Source: Duowei News, April 10, 2017
http://china.dwnews.com/news/2017-04-10/59809773.html

Briefings | | April 11, 2017 | Government/Politics

Statistics Show More Party Officials Committed Suicide after 18th National Congress

Radio Free Asia carried an article which quoted statistics from Lianhe Zaobao a Singapore based Chinese language newspaper. The article pointed out that the number of Chinese Party officials who committed suicide grew significantly in 2014, which was the third year after the Party’s 18th National Congress held in October 2012. The article reported that, according to the statistics that the Chinese Academy of Sciences released, from 2009 to 2016, the number of Party officials who committed suicide was as follows: 21, 25, 22, 17, 10, 59, 50, and 39. While the article pointed out that in 2013, the second year following the party’s 18th National Congress, the number dropped to 10, it grew five times to 59 in 2014. Even though the number has decreased since 2014, it was still significantly higher than the numbers before 2012. Reports indicate that the corruption scandal and inadequate personal ability are blamed as the main cause for the stress which led to depression. The most common suicide choice was jumping off buildings.

Source: Radio Free Asia, April 10, 2017
http://www.rfa.org/mandarin/Xinwen/8-04102017142950.html

Briefings | | April 11, 2017 | Government/Politics

SPIC: Still Evaluating Westinghouse’s Bankruptcy

Well-known Chinese news site Sina recently reported that the Chairman of China’s State Power Investment Corporation (SPIC) visited Japan and had a discussion with its parent company Toshiba about the future of Westinghouse. He told the media that SPIC was still evaluating Westinghouse’s ownership structure. SPIC has not yet made a decision on whether to acquire it. China’s third generation nuclear power plants use Westinghouse’s AP1000 nuclear technology. Based on U.S. media reports, the Trump administration has been very much concerned about the potential possibility of Chinese capital acquiring Westinghouse. Westinghouse, with its 130 years’ history, is widely recognized in the world as the original inventor of nuclear power generation. SPIC paid a lot of attention to Westinghouse’s bankruptcy before it was even filed. SPIC said the restructure of Westinghouse should not concern the U.S. government, since it has already been sold several times previously. However, sources revealed that the U.S. Secretary of Energy Rick Perry has taken actions to seek the elimination of any Chinese connection among the potential buyers. Westinghouse owns a large number of military technologies as well.

Source: Sina, April 8, 2017
http://finance.sina.com.cn/roll/2017-04-08/doc-ifyecezv2467689.shtml

Briefings | | April 10, 2017 | Economy/Resources US-China Relations

Global Times: India Could Be the Winner in the Trade War between China and the U.S.

Global Times recently reported that the anticipated trade war between China and the United States has been discussed around the world as the source for warnings of global economic risks. However, India may have a different opinion. Some members of India’s Bharatiya Janata Party (BJP) National Executive Committee recently expressed the belief that the U.S. threats to punish Chinese manufacturers may result in China’s need for India’s large domestic market. China’s need to maintain growth can actually provide India a new leverage to play in the regional strategic balance. China’s manufacturing advantage depends on large export markets. Since the United States may no long be there for China, the largest market in Asia for exports is India. In fact, in its relations with both China and the United States, India’s large domestic market can be an advantage. It seems a United States under protectionism can create more trouble for China than for India.

Source: Global Times, April 8, 2017
http://oversea.huanqiu.com/article/2017-04/10442908.html

Briefings | | April 10, 2017 | Geo-Strategic Trend

China’s Chief Aircraft Carrier Designer: Nuclear Powered Carrier Is a Must

Global Times recently reported that Zhu Yingfu, a member of China Engineering Academy and Chief Designer of the Liaoning Aircraft Carrier, delivered a speech not long ago on improving the Chinese Navy’s equipment. Zhu is also the Chief Designer of a number of other naval vessels, such as China’s 052C Chaser, better known as “China’s Aegis.” Zhu mentioned that China’s second aircraft carrier may appear to be the same as the first one, but its internal equipment has been drastically updated. Zhu estimated that China should have at least three carriers, but preferably four to five. However, he was very confident that China must develop nuclear powered aircraft carriers. He asked the audience to remain patient and assured them that China will catch up to the world’s leading-edge level on that front “very soon.”

Source: Global Times, April 7, 2017
http://mil.huanqiu.com/observation/2017-04/10437291.html

Briefings | | April 10, 2017 | Defense/Military

China’s Bottom Line on North Korea Nuclear Issue: The Security and Stability of Northeast China

In a commentary on North Korea’s nuclear crisis, Global Times, a newspaper under People’s Daily, published an article giving China’s bottom line if the U.S. chooses to challenge the North Korean regime unilaterally. The article stated：

“If the U.S. wants to solve North Korea’s nuclear issue, it is necessary to reduce the differences among the peripheral countries and form some key consensus. At the same time, it must also open up channels of communication with Pyongyang and leave some open space to allow the pressure on North Korea to take effect.”

“China hopes that the North Korean nuclear issue gets resolved as soon as possible. However, no matter what happens, China has a bottom line. China will protect China’s Northeast territory at all costs for its safety and stability. Related to this, North Korea’s nuclear activities must not cause any pollution in Northeast China. In addition, North Korea cannot go through the kind of turmoil that will produce a massive output of refugees. On the other side of the Yalu River, it cannot have a regime hostile to China. The U.S. military cannot march to the Yalu River.”

“If Washington wants to strengthen cooperation with Beijing to solve the North Korea nuclear issue, its policy should not be against China’s above concerns.”

Source: Global Times, April 5, 2017
http://mil.huanqiu.com/observation/2017-04/10425899.html

Briefings | | April 9, 2017 | Geo-Strategic Trend US-China Relations

Former Shanghai Mayor’s Role Highlighted in Xi Jinping’s Grand 1000-Year Plan

Ta Kung Pao, a Beijing affiliated Hong Kong daily newspaper, reported that former Shanghai mayor Xu Kuangdi was shown on CCTV, China’s state television, on February 23, interacting closely with Xi Jinping during Xi’s visit to the Xiongan New Area.

CCTV‘s footage was not publicly released until this past weekend, when Beijing announced the planning and construction of the area, which is said to be part of the 1000-year plan that Xi set forth showcasing “world vision, international standards, Chinese characteristics, and high goals.”

Xu Kuangdi currently serves as the chief advisor for the Beijing-Tianjin-Hebei integration. He was mayor of Shanghai from 1995 to 2001, and supervised the city’s transformation into a center for international investment and trade with the establishment of the Pudong New District.

According to Radio Free Asia‘s commentator Paul Lin, he was asked to resign from the mayor’s position to make room for Chen Liangyu, a favorite of then Party secretary general Jiang Zemin. In 2006, Chen was disgraced because of corruption charges and dismissed from all positions including being a member of the Politburo.

Xu, who held several academic positions before becoming mayor of Shanghai, recommended that the construction of the Xiongan New Area should focus on technological and innovative industries and that the region should attract high-end innovative talent and resources. The new district covers the counties of Xiong, Rongcheng, and Anxin and is currently a poor, rural area. Xu said it was chosen because the “low density of its population, the low level of development, and plenty of space for future growth.”

Sources: Ta Kung Pao, April 4, 2017
http://news.takungpao.com/mainland/focus/2017-04/3438214.html
Radio Free Asia, December 13, 2001
http://www.rfa.org/mandarin/pinglun/72194-20011213.html

Briefings | | April 6, 2017 | Economy/Resources Government/Politics

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.