Chinascope – Page 665

DW: People’s Daily Implies that Jiang Zemin Is Clinging to Power

On August 10, 2015, DW.com published an article saying that the People’s Daily article titled “Dialectically View the Phenomenon of ‘Tea Turns Cold When People Are Away’” was actually delivering a political message. Since Xi Jinping launched the anti-corruption campaign, there has been speculation that the CCP Central Commission for Discipline Inspection might be targeting Jiang Zemin in an internal investigation.

According to People’s Daily, “When not in the leadership position, the retired cadre should not utilize the power of leadership. Such ‘cold tea’ is the norm.” The People’s Daily article referred to a retired cadre as “cold tea”. Using such a metaphor attracted a lot of online comments. Someone wrote, “If ginger tea insists on being as hot as before, what should we do? In such a case, we should pour it (the ginger tea) out!”

Source: DW.com, August 10, 2015
http://www.dw.com/zh/人民日报一评论文疑影射江泽民/a-18637712

Briefings | | August 12, 2015 | Government/Politics

People’s Daily Criticizes a Retired Leader Who Still Interferes in the Present Leaders’ Work

On August 10, 2015, People’s Daily published an article titled, “Dialectically View the Phenomenon of ‘Tea Turns Cold When People Are Away.’”

The article commented, “People come and go; the present day replaces old times.” “Over the years, many of our Party cadres have correctly treated their status changes after having stepped down from their leadership positions. They consciously have not intervened in the work of the new leadership team, which demonstrates the open-mindedness and noble sentiments of a senior Party member and veteran cadre. They have thus won everyone’s respect.

However, a highly positioned cadre, when he was in power, arranged for his trusted aides to be in the top positions for the purpose of being able to manipulate power in the future. After years of retirement, he is still reluctant to let go of the power from his original work place and from being in charge of major issues. When something does not please him, even in the slightest way, he will sigh, ‘Tea Turns Cold When People Are Away.’ He blames others for slobbering. This phenomenon causes a dilemma for the new leader and puts him in an inconvenient position; this hinders the new leader from doing his job freely and courageously. (The retired cadre’s interference) undermines the Party’s cohesion and combat power and results in rampant vulgar practices. Examples are, organizing many cliques; no one can focus on his own work; it is hard to implement regular work activities.”

“When not in the leadership position, the retired cadre should not utilize the power of leadership. Such ‘cold tea’ is the norm. Once retired from the position, the former leading cadre will no longer be in charge of that job. Naturally, he will not have the power or responsibility.” “We should properly handle the relationship between emotion and principle. Never reheat the cold tea and bring it back to the table.”

Source: People’s Daily, August 10, 2015
http://opinion.people.com.cn/GB/n/2015/0810/c1003-27434178.html

Briefings | | August 12, 2015 | Government/Politics

Chinese Banking Industry Saw a Large Number of Nonperforming Loans

Well-known Chinese news site Sina recently reported that, according to the China Banking Regulatory Commission (CBRC), the Chinese banking industry suffered the highest nonperforming loans ratio since 2010. In the first half of this year, the banks accumulated nonperforming loans totaling RMB 1.8 trillion (around US$290 billion), which represents a year-over-year increase of 35 percent. This half-year increase is larger than the increase China saw for the entire year of 2014. Shang Fulin, Chairman of the CBRC, suggested that the banking industry should take the task of controlling the rapidly growing number of nonperforming loans as a top priority task. Risk management and prevention are key to this work.

Source: Sina, August 6, 2015

http://finance.sina.com/gb/wsj-ftchinese/ftchinese/20150806/02331311090.html

Briefings | | August 11, 2015 | Economy/Resources

Caixin: July Chinese Manufacturing PMI Continued to Decline

Well-known Chinese financial site Caixin recently released its official Chinese Manufacturing PMI index number for July. It was 47.8 – lower than the June number of 49.4. The Caixin PMI was formerly known as the HSBC PMI, which was a well-respected economic indicator that financial institutions widely monitored globally. The British financial company Markit formed the PMI and Caixin recently took it over from HSBC to become the sponsor for the PMI index. The Caixin PMI has been below 50 for five consecutive months so far. Based on sub-indexes under this PMI, in July, both total new business and new exports were on the decline. Manufacturing output suffered the largest decline since November 2011. The employment level in manufacturing has declined for the past 21 consecutive months. PMI (Purchasing Managers Index) is an indicator of financial activity reflecting purchasing managers’ acquisition of goods and services. A PMI number below 50 typically reflects a decline.

In the meantime, Xinhua reported that, according to The General Administration of Customs, China’s July exports declined 8.9 percent, year-over-year. Exports to Europe suffered the greatest loss.

Source: Caixin, August 3, 2015

http://economy.caixin.com/2015-08-03/100835560.html

Source: Xinhua, August 8, 2015

http://news.xinhuanet.com/fortune/2015-08/08/c_1116188457.htm

Briefings | | August 11, 2015 | Economy/Resources

Over 130,000 Legal Complaints Filed against Former Chinese Leader Jiang Zemin

According to Minghui.org, between May 27 and August 6, 2015, the Minghui website editors received copies of criminal complaints that had been filed by 134,386 Falun Gong practitioners in China and other countries against former Chinese leader Jiang Zemin. The complaints urged the procuratorial organs [in China] to conduct criminal investigations into Jiang for his role in launching the persecution against Falun Gong practitioners. The report said that, due to the Internet blockade, the actual numbers of complaints are far more than what is being reported.

Hebei, Liaoning, Shandong, Heilongjiang, and Jilin provinces are the top five regions where the practitioners have filed their complaints. The website said that, based on the receipt confirmations that the Supreme People’s Procuratorate and the Supreme Court have issued, the Supreme People’s Procuratorate, the Supreme Court, the Ministry of Public Security, and the Commission for Discipline Inspection of the Central Committee received over 59,380 of the complaints, accounting for 53 percent of the total number of copies that the Minghui website received.

Source: Minghui.org, August 8, 2015
http://www.minghui.org/mh/articles/2015/8/8/%E5%8D%81%E4%B8%89%E4%B8%87%E5%9B%9B%E5%

8D%83%E4%BA%BA%E6%8E%A7%E5%91%8A%E6%B1%9F%E6%B3%BD%E6%B0%91-313827p.html

Briefings | | August 10, 2015 | Government/Politics

Huanqiu: Foxconn Shifts Its Investments to India

According to a report by Huanqiu, Foxconn, the supplier for Apple, Blackberry, Xiaomi, and Amazon, has signed a US$5 billion contract with India to build an electronic manufacturing plant. The article said that, as one of the fastest growing markets for smart phones, India is a country that smart phone manufacturers, including the ones from China, wish to tap into. In addition to Xiaomi, the TCL Corporation, another Chinese multinational electronics company, is planning to build its plants in Brazil and India. As the manufacturing costs continue to grow in China, driven up by the increase in labor, currency, and energy costs, the price of China made products is close to the U.S. The article said that having investments in countries like India will not only consume the excess production capacity that China has but will also assist Chinese enterprises to “step out” and gain added value for China made products.

Source: Huanqiu, August 7, 2015
http://finance.huanqiu.com/ppgc/2015-08/7232641.html

Briefings | | August 10, 2015 | Economy/Resources

Disciplinary Committee to Inspect State Owned Enterprises

Guangming Daily published an article reporting that State Owned Enterprises will be required to impose strict party disciplinary policies on their Party members. The article stated that the Central Politburo will soon issue a guideline on the Party’s Inspection Work, which the Central Inspection Group will implement. The plan is to conduct inspections that will cover all State Owned Enterprises. The article said that the guidelines should mainly focus on detecting the existence of formalism, bureaucracy, hedonism, and extravagance. For any identified issues, the guidelines require that they to be elevated to the Commission for Discipline Inspection, the Ministry of Organization, or Party organizations within the State Owned Enterprises. Meanwhile necessary actions should take place immediately. The article said that if the issues are being held up without being addressed, the punishment could be severe.

Source: Guangming Daily, August 10, 2015
http://politics.gmw.cn/2015-08/10/content_16604699.htm

Briefings | | August 10, 2015 | Government/Politics

Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

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.”