Late on July 4, the Shanghai and Shenzhen exchanges announced that 28 planned IPOs of “A Shares” will be delayed, 10 at Shanghai Stock Exchange and 18 at Shenzhen Stock Exchange. On July 3, China Securities Regulatory Commission expressed that, in light of the recent market situation, there would be no new IPOs in the near-term and the number and volume of deals down the line would be greatly reduced.
VOA Blog: He Qinglian on Blaming the Stock Market Plunge on a Foreign Conspiracy
Well known economist and sociologist, He Qinglian, who blogs regularly on Voice of America, looked into the theory that has been widely circulated in China that a foreign conspiracy accounted for the crash in China’s stock market causing Beijing to roll out a slew of support measures to stem the stock market slide.
Xinhua Exclusive Report Says Western Media Incited Turkish Anti-China Demonstrations
China’s state media Xinhua published an exclusive report to “disclose” information about the recent Turkish demonstrations against the Chinese government. In asking what caused the demonstrations, the report quoted unnamed analysts who “point out that a few Western media have long been distorting China’s ethnic policy and the living status of those in ethnic minority areas. A small group of agitators and their reporting of rumors that [China] banned the ‘Ramadan fast’ in the Xinjiang Autonomous Region have brought about the recent anti-China protests in Turkey.”
HK Mingpao: New Poll Showed Impression of Beijing Getting Worse
HSBC PMI Number for Chinese Manufacturing Remains Low
BBC Chinese: Chinese Military Audit Discovered Numerous Financial Issues
China Consumes Half of the Antibiotics in the World
Xinhua reported on a research study that the Guangzhou Institute of Geochemistry, which is part of Chinese Academy of Science, had recently conducted. The study found that the consumption of antibiotics in China was 162,000 tons (147 million Kilograms) in 2013 which accounted for half of the total usage in the world. Of this total, 52 percent was for animal use and 48 percent was for human use. The study also found that over 50,000 tons (45 million Kilograms) of antibiotics was discharged into soil and water each year. The statistics also revealed that China’s average antibiotics consumption per person was 5 to 8 times higher than in Western countries and that antibiotics were found in close to 60 percent of children’s urine samples. The expert stated that the over usage of antibiotics was driven by two factors. One is that doctors like to prescribe antibiotics in order to seek a speedy recovery for their patients and the other is the higher profit margin of antibiotics which can bring economic benefits to the hospital.
Source: Xinhua, July 6, 2015
http://news.xinhuanet.com/fortune/2015-07/06/c_127988141.htm
Qiushi Theory: Cliques Are Absolutely Disallowed within the Party
Qiushi Theory published an article that reprinted a talk that Xi Jinping gave on preventing Party officials from forming cliques or factions of members that stick together in order to protect their own interests. The article said that the phenomenon is getting worse and has damaged the “advancement,” “unity,” and “purity” of the nature of the Party. The article then named some conditions that resulted in the formation of small interest groups within the Party. It called these a "culture of factionalization,” which occurs when officials study power circles and learn how to work around them through the “back door.” “Bourgeois liberalization” has resulted in officials not being able to balance the relationship between themselves and the Party. Thus they “seek and form personal interest groups,” which refers to the “die hard circle” of friends, alumni, and comrades–in–arms, who stick together for their own interests. The article stated that there should be zero tolerance for this type of behavior; it is a “battle that the Party cannot afford to lose.”
Source: Qiushi Theory, June 30, 2015
http://www.qstheory.cn/dukan/qs/2015-06/30/c_1115751308.htm