Chinascope – Page 667

China Significantly Increased Its Gold Reserves for the First Time in Six Years

Well-known Chinese news site Sina recently reported that, according to China’s central bank, China’s official gold reserves reached 53.31 million ounces (1,658 tons) as of the end of June. This is a 57 percent increase from the previous official number revealed in April 2009, which was 33.89 million ounces (1,054.6 tons). The central bank announced the intent to continue the increase of the gold reserves in the future to have better management of financial risks. According to the World Gold Council (WGC), China surpassed Russia to become the world’s fifth largest country in gold reserves (excluding the International Monetary Fund). Analysts have indicated that, according to cost figures, the Chinese central bank did not reach this new gold reserve level with a recent one-time acquisition. China is the largest gold producer in the world and is the second largest gold consumer after India. Since 2009, the central bank has never updated its official gold reserve level.

Source: Sina, July 17, 2015

http://finance.sina.com.cn/money/nmetal/20150717/192622719369.shtml

Briefings | | July 28, 2015 | Economy/Resources

BBC Chinese: Fake Taylor Swift Branded Products Have Flooded China

BBC Chinese recently reported that, when well-known U.S. pop music singer Taylor Swift will launch her touring concert in Shanghai this November, she plans also, at the same time, to announce her own clothing line in China. Swift is working with Chinese online shopping sites to market her authentic line of products in the Chinese market, with a guarantee to the buyers that they won’t get fakes. This is an effort to fight the widespread fake Swift products that have spread through the Chinese online market. For example, a T-shirt printed with Taylor Swift’s famous song named “Shake It Off” sells for RMB 40 yuan (around US$7) online at China’s largest online shopping site (also the world’s largest) TaoBao.com. Swift, however, never gave any authorization for it. TaoBao.com was recently accused of not making enough of an effort to crack down on counterfeits. In the meantime, Swift’s concert may face another totally unrelated issue. Her new music album is named “T.S.1989,” standing for her initials and the year she was born. However, in China, the number 1989 and the initials are considered “sensitive” because the Chinese authorities may connect them with the 1989 Tiananmen Square Massacre.

Source: BBC Chinese, July 24, 2015

http://www.bbc.com/zhongwen/simp/world/2015/07/150724_swift_china

Briefings | | July 28, 2015 | US-China Relations

Internet Users’ Information Theft Is Alarming in China

People’s Daily reported that, according to the 2015 Investigative Report on China’s Internet Users’ Protection Rights, 78.2 percent of Internet users in China have had their personal information stolen. The related financial losses that resulted were 8.05 trillion yuan (US$1.3 trillion).This is equivalent to 124 yuan (US$20) per person for the period between July 2014 to June 2015, assuming there were 649 million Internet users and close to 7 percent of the Internet users suffered financial losses as high as 1,000 yuan (US$161). The report indicated that online shopping, online searches, social websites, online games and online travel are the sites where most of the Internet users experienced information theft. According to the legal expert, the personal and identify information theft rate in China is alarming, but since the financial damage is relatively small, few of the Internet users seek legal protection.

Source: People’s Daily, July 24, 2015
http://tc.people.com.cn/n/2015/0724/c183008-27353836.html

Briefings | | July 27, 2015 | Information/Technology

By 2022, China Will Have 9.2 Million Hepatitis B Patients

Guangming Daily reported that, on July 25, 2015, World Hepatitis B Awareness Day, there were 6.9 million Hepatitis B patients in China. According to the vice chairman of the China Foundation for Hepatitis Prevention and Control, that number will reach 9.2 million by 2022. The article also disclosed that among 400 million Hepatitis B and C carriers in the world, China accounts for 25 percent of the population while the number of liver cancer patients in China accounts for half of the world’s population.

Source: Guangming Daily, July 26, 2015
http://politics.gmw.cn/2015-07/26/content_16424619.htm

Briefings | | July 27, 2015 | Information/Technology

People’s Daily Had Full Page Coverage of The Difficult Position that Democracy Faces in the U.S.

Xinhua reported that, on July 26, the print edition of People’s Daily used a full page to cover the issue of democracy in the U.S. The title was, “The Difficult Position Democracy Faces in the U.S.” In the editor’s note, the article questioned what happened to democracy in the U.S. It said that democracy in US has turned into a mere show off piece, which is a problem in itself. It is evident in the U.S. economy, in the model for the operation of democracy, and in U.S. foreign policy. The full page consisted of the translation of four articles. These were, “Money dictates Politics; ‘American Democracy’ is not a true Democracy,” written by John Ross, the former director of London’s economic and business policy [Editor’s note: John Ross was economic advisor to Ken Livingstone when he was mayor of London]; “A Double Standard is Used; Inequality is Increasing,” written by Boris Guseletov, the Advisor to the State Duma (Russian Parliament); “The Small Group holding Power Has Control of the General Population; the Oligarchy Damages Democratic Values,” written by Paulo Duate, Researcher at the Catholic University of Louvain, Belgium; and “American Democracy Does Not Fit Other Countries; Being a Copy Cat will not Work," written by Yuksel Gormez, the Central Bank of Turkey’s Beijing Economic Counselor.

Source: Xinhua, July 26, 2015
http://news.xinhuanet.com/world/2015-07/26/c_128059281.htm

Briefings | | July 27, 2015 | Government/Politics

PLA Strategist: China’s Rise Requires Great Wisdom

[Editor’s Note: Oriental Outlook Weekly interviewed People’s Liberation Army (PLA) Major-General Qiao Liang on China’s military strategy on the issue of China’s rise. Qiao Liang is the PLA strategist who co-authored the book, Unrestricted War.

In the interview, Qiao argued that the Diaoyu Islands and the islands in the South China Sea are not China’s current core interest and that, for the next 10 to 20 years, China should focus on its continued economic development so that it can become a super strong economic power. He also talked about how China can counter the U.S.’s military superiority in the information technology field.

Although the interview was conducted in March 2014, his points and his perspective are still relevant today. The following are excerpts from the article.] [1]

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Reports | | July 24, 2015 | Report

Xinhua: In Defense White Paper, Japan’s Ulterior Motive Is to Stir Up the “China Threat”

Xinhua published an article on its headline news denouncing the Japanese government’s approved Defense White Paper (2015 edition). The article stated that the purpose of the white paper is to stir up the "China threat" and create a tense atmosphere so as to strengthen Japan’s security policies, develop its defense system, and find an excuse for a closer Japan-U.S. military alliance.

The article said that "the volume of the white paper this year was the smallest in the last 10 years, but the China-related contents have increased rather than decreased. Attacking China has intensified as well."

"Unlike previous years, this year’s white paper placed the China ‘threat’ in a prominent position. Furthermore, for the first time this year, the white paper set up a separate section called ‘Maritime Trends,’ making a big fuss about maritime security issues and making the accusation that ‘China’s unilateral action is undermining the principle of freedom of navigation.’"

"The white paper also instigated, for the first time, the issue of the South China Sea islands and reefs. In addition, it published a set of high-definition pictures to show that China is building islands from the reefs, creating an excuse for Japan to intervene on the South China Sea issue."

"In the white paper, the Japanese government constantly repeated that ‘the security environment is getting more severe by the day and China has become the biggest threat,’ paving the way for the ‘expansion of the role of the Self Defense Force.’"

Gao Hong, deputy director of the Institute of Japanese Studies at the Chinese Academy of Social Sciences, stated that the Japanese right-wing forces recently refused to recognize their history, provoking the redline of Asian security and stability. It does this by spreading [the rumor] that the external security environment is deteriorating and China is its "enemy." The purpose is to confuse the public and hide its ever-expanding military ambitions.

Source: Xinhua, July 22, 2015

http://news.xinhuanet.com/world/2015-07/22/c_1116010371.htm

Briefings | | July 24, 2015 | Geo-Strategic Trend

70 Percent of Investors Suffered Losses in the Stock Market Crash

Southern Metropolis Daily published the results of a survey in which individual investors in the stock market in Huizhou City, Guangdong Province were asked to respond. The survey closed on July 21, 2015. Of the 1,006 participants, about 70 percent suffered losses, 20 percent had gains, and 10 percent had neither gains nor losses. As to the extent of losses, over 40 percent of respondents said they lost over 30 percent of their investment.

Of those responding, male investors accounted for 87 percent and female 13 percent. As for the level of experience, those with less than two years of experience in the market accounted for 40 percent of the participants in the survey. Over 40 percent indicated they had invested over 50 percent of their savings in the market.

Source: Southern Metropolis Daily, July 23, 2015

http://hz.southcn.com/content/2015-07/23/content_129102070.htm

Briefings | | July 24, 2015 | Economy/Resources

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.