Chinascope – Page 624

Guangming Daily: Six Million Chinese Tourists Travelled Overseas during Chinese New Year Holiday

According to a report carried by Guangming Daily, an estimated 5.7 million to 6 million Chinese tourists will be traveling overseas during the recent Chinese New Year holiday break. Estimates suggest that the total spending for these tourists will reach 90 billion yuan (US$13.8 billion); most of the money will be spent on shopping. The article said that 157,000 Chinese tourists went to Korea this year, up 18.7 percent over the prior year. Most of the money they spent was for Korean made brand name cosmetic products and food. France and Thailand are also among the countries that the Chinese tourists highly favor.

Source: Guangming Daily, February 22, 2016
http://economy.gmw.cn/2016-02/22/content_18976013.htm

Briefings | | February 22, 2016 | Economy/Resources

What Worries China’s Middle Class?

The Paper published a commentary on the worries that China’s middle class faces:

Career: China’s economic turmoil and the restructuring of its industries mean that many mid to high level managers face the risk of losing their jobs. The Internet technology has also impacted almost all industries.

Family assets: The main assets for a middle class family are their home, investments in the stock market, and cash. The housing market and stock market are volatile.

Education for their children: Many in the middle class studied very hard to achieve their status. The family experiences desperation when their children do not receive good grades.

There are also worries over medical insurance, retirement funds, and other matters.

Source: The Paper Online, February 12, 2016
http://www.thepaper.cn/newsDetail_forward_1430325

Briefings | | February 17, 2016 | Economy/Resources

Global Times: How to Deal with the North Korea Issue

"There have been many recent developments in the Korean Peninsula. North Korea exploded a hydrogen bomb and used a long distance missile to launch a satellite. The U.S. sent an aircraft carrier, B-52 bombers, a strategic nuclear submarine, and Special Forces to Japan and South Korea. The U.S. and South Korea also made substantial progress on planning the deployment of the THAAD missile defense system." A Global Times article commented on the North Korea situation.

The article argued that China must take action to prevent the threat of war there.

"First, [China] should mobilize the international community to convince the parties involved in the escalation to go back to the Six-Party Talks. [China] should let North Korea understand: North Korea will face a national disaster if a war starts and China will not sacrifice its own interests to save a regime that does not listen to its advice. [China] should let South Korea understand: There is no benefit to bringing in external forces to escalate the tension on Korean Peninsula and it is practically impossible to use military threats to have the South unite with the North. It is also hard to convince the U.S. and Japan. [China] should ask the ‘healthy voices’ in those two countries to convince their decision makers to move forward with dialog and then with a peace treaty."

"Second, [China] should work with Russia and other countries that are again creating tension in Northeast Asia to make sure that the U.N. Security Council will not authorize the use of force. There is no situation in which the U.N. should authorize any country to start a war in the peninsula."

"Third, [China] should prepare for a war. Even though there is a very low probably that a war will occur, [China] should be 100 percent prepared."

Source: Global Times Online, February 16, 2016
http://opinion.huanqiu.com/1152/2016-02/8543096.html

Briefings | | February 17, 2016 | Geo-Strategic Trend

The Paper: Why the Price of a Bride Keeps Rising

The Paper published an analysis report on the purchase of brides in China’s villages. Chinese, especially peasants, prefer sons to daughters. Because of China’s "one-child" policy over the past few decades, this view has contributed to a higher proportion of males than females in China.

"The development of a nationwide marriage market has resulted in an outflow of females from Western and Central China [because they are able to marry in Eastern China which is more developed economically]. The imbalance between males to females means that, for the groom, the cost of getting married has continued to rise."

"Nowadays, a girl’s preference for a husband is someone who is the only child in the family, has money, and has relatively young parents. In that case, her in-laws can continue to work and pass their earnings on to their only son [and, of course, the girl as well]. They can also provide free babysitting services for the young couple’s baby."

Source: The Paper Online, February 12, 2016
http://www.thepaper.cn/baidu.jsp?contid=1431178

Briefings | | February 17, 2016 | Economy/Resources

In 2015, Chinese Tourists Spend 0.2 trillion Dollars Overseas

According to a Xinhua report on the statistics that the Ministry of Commerce recently published on Chinese’ overseas purchase of luxury goods, in 2015, Chinese tourists spent about 1.2 trillion yuan (US$0.2 trillion) overseas, thus becoming the leader among the world traveler consumer groups.

Fortune Character Institute, a Shanghai based management consulting firm, estimated that, in 2015, Chinese consumers’ expenditures on luxury goods worldwide amounted to US$116.8 billion, about 46 percent of the world’s total expenditures on global luxury goods. Of Chinese consumers’ expenditures, US$91 billion or 78 percent, took place outside of China.

The price difference is still the most attractive reason for making purchases overseas. The average price spread for alcoholic beverages is around 64 percent; for wrist watches it is around 33 percent.

Overseas shoppers are mostly between 25 and 40 years old. Those between 25 to 30 years old prefer clothing and cosmetics; 30-to-35-year-old shoppers like luggage, bags, and digital products, 35-to-40-year-old shoppers are more interested in luxury jewelry, in addition to nutrition and health products.

Source: Xinhua, February 13, 2016

http://news.xinhuanet.com/fortune/2016-02/13/c_1118026740.htm

Briefings | | February 16, 2016 | Economy/Resources

Political Rivalry in China Preface – The CCP’s Political Structure Fosters Political Rivalry

Preface: The CCP’s Political Structure Fosters Political Rivalry

Some Western observers feel that Xi Jinping’s anti-corruption campaign is somehow confusing. It seems to them that, in addition to containing the widespread corruption in China, Xi also uses this campaign to purge officials who rival him politically.

Continue reading →

Perspectives | | February 16, 2016 | Opinion

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.