Chinascope – Page 686

People’s Daily: China Responded to Pentagon’s Annual Report on China’s Military

On May 9, People’s Daily reported that the Chinese Ministry of Defense responded to the newly released Secretary of Defense report to the U.S. Congress on "Military and Security Developments Involving the People’s Republic of China 2015." Geng Yansheng, the spokesperson for the Chinese Ministry of Defense, told the media that the 2015 U.S. report completely ignored the facts and simply repeated the long outdated theory of the “Chinese military threat.” The United States made “groundless accusations” against the Chinese military’s strategic planning, the development of its military branches, space development, Internet warfare, military transparency, and the Taiwan issue. The United States Report especially ignored the positive contributions China has made to maintain regional stability and to improve the relationship between the U.S. military and the Chinese military. China is firmly against this report. Geng also suggested that the United States has been publishing the Report for several years, which has significantly damaged the mutual trust. He asked the U.S. Department of Defense to take immediate steps to stop its negative activities. He also said that China reserves the right to have further reactions.

Source: People’s Daily, May 10, 2015

http://military.people.com.cn/n/2015/0510/c1011-26975141.html

Briefings | | May 12, 2015 | US-China Relations

The 117th Canton Fair Saw a Decline in the Volume of Exports

Well-known Chinese news site Sina recently reported on the 117th China Import and Export Fair (also known as the Canton Fair) which concluded on May 5. As China’s largest import/export fair, the Canton Fair is considered “symbolic.” It is China’s foreign trade barometer and wind vane. According to the official statistics of the Fair, the total contract value this year was US$28.1 billion, which represents a year-over-year decline of 9.64 percent. The number of business visitors also declined. This level of decline matches the actual first quarter import/export data that the General Administration of Customs (GAC) recently reported. It seems that meeting the goal of a six percent annual increase in trade that the central government set earlier, will be a difficult task. At this year’s Fair, the export of electromechanical products saw an overall increase, but exports to Japan, Russia, and the United States declined by 31.4 percent, 30 percent and 25.9 percent, respectively. Home appliances and consumer electronics products, which hold 47.5 percent of the total trade volume, suffered a significant decline. For example, the consumer electronics category saw a decline of 34.1 percent, year-over-year.

Source: Sina, May 6, 2015

http://finance.sina.com.cn/roll/20150506/065222114888.shtml

Briefings | | May 12, 2015 | Economy/Resources

Xinhua: 2014 Shanghai Financial Supervisory White Book Published

Xinhua reported on the 2014 Shanghai Financial Supervisory White Book which was recently published. According to the report, in 2014, 2,063 financial crime cases went through legal proceedings; a total of 2,378 people were involved. These numbers were up 46.2 percent and 47.8 percent respectively compared to 2013. Credit card fraud still ranked number one. The rest of the crimes included taking illegal public deposits, illegal financing and loans, insurance fraud, and insider trading. Reports indicated that another trend highlighted in the White Book was that the number of crimes that financial professionals committed reached a record high in 2014.

Source: Xinhua, May 10, 2015
http://news.xinhuanet.com/fortune/2015-05/10/c_127783921.htm

Briefings | | May 11, 2015 | Economy/Resources

Huanqiu: China’s Special Treatment in Moscow’s Red Square Military Parade Shows Close Relationship

Huanqiu carried an article about China’s participation in the Red Square military parade in Moscow on May 9. The article commented that lack of attention from the Western world did not undermine the grand scale of the Red Square military parade. The Russians viewed Xi Jinping’s appearance in the parade as “spiritual support” to the Russians in the midst of the boycott from the West. According to the article, Xi not only received unprecedented treatment at the welcoming ceremony; China’s guard of honor placement at the end of the international section and right before the Russians was also an indication of the close relationship between Russia and China.

Source: Huanqiu, May 10, 2015
http://world.huanqiu.com/exclusive/2015-05/6396641.html

Briefings | | May 11, 2015 | Geo-Strategic Trend

Guangming Daily: China be on Guard against Japanese Politicians Making Inciting Statements

Guangming Daily carried a commentary on the relationship between China and Japan. The article stated that 2.41 million Chinese tourists visited Japan in 2014, which was up 84 percent from 2013. However, in 2014, China Daily and the Japanese non-profit think tank Genron NPO, conducted a survey about China and Japan’s relationship. The survey indicated that 93 percent of the Japanese people do not like Chinese people and most of them will refuse to visit China in the next two years. The commentary claimed that the imbalance was due to two factors. First, certain Chinese “Tuhao” or nouveau riche tend to show off their wealth in Japan and, second, Japanese Prime Minister Abe has anti-Chinese sentiment. The commentary concluded that anti-China propaganda influences the Japanese public. Therefore China should be on guard against the inciting statements that Japanese politicians make.

Source: Guangming Daily, May 11, 2015
http://world.gmw.cn/2015-05/11/content_15623091.htm

Briefings | | May 11, 2015 | Geo-Strategic Trend

The Effort to Join SDR May Include RMB Depreciation

Laohucaijing.com published a commentary about the speech that Zhou Xiaochuan, president of China’s central bank, gave at the meeting of the International Monetary Fund (IMF) on April 18, 2015. The commentary warned that, based on Zhou’s remarks, the bubbles in China’s housing and stock markets will burst in the second half of 2015 and RMB depreciation may be likely.

According to the commentary, Zhou’s speech was very detailed and important, unequivocally demonstrating China’s determination to be included in the IMF’s Special Drawing Rights (SDR). The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, and pound sterling).

The core of Zhou’s speech was that the Chinese Government is working to allow free conversion of the RMB, or at least managed free conversion. The condition for joining SDR is free conversion of the RMB, which China cannot do at the moment. Therefore managed free conversion is a major step forward. If managed conversion is implemented, the bubble in China’s housing and stock market will burst. Chinese will be looking all over the world for investment opportunities. To avoid a reduction in foreign exchange reserves, China’s central bank may depreciate the RMB in the second half of the year.

Source: Laohucaijing.com, May 7, 2015

http://www.laohucaijing.com/news/23466.html

Briefings | | May 8, 2015 | Economy/Resources

The Fifth Generation Chinese Leader’s Political Opponents Include Four Interest Groups

The fifth generation of Chinese leaders [Xi Jinping’s Administration] initiated reform with bold steps, far exceeding its predecessor, the Hu-Wen administration. As the reform has been advancing, a number of interest groups have been thwarting the effort with increasingly strong resistance. Four categories of resisters have gradually coalesced to become the political opponents of the fifth generation of Chinese leaders.

The first category consists of powerful elite interest groups. Many of them are in high positions and have control of important political and economic resources. Many were once the main force of reform. However, as they became the established interest group, they turned toward resistance. For example, Zhou Yongkang, Ling Jihua, and their followers represent such groups.

The second category is the interest groups that have formed a selfish departmentalism. These people ignore orders from the upper levels in order to defend their local interests in the implementation of the reform policies.

The third category is the grassroots bureaucracy. Many local officials have developed a habit of taking a bite out of whatever is going through them. For example, by the time the disaster relief fund reaches the people who really need it, half of it has been siphoned off.

The fourth category is the social intricacies of various pressure groups. This group is scattered and can gather as a group via the Internet.

Source: original by Oriental Daily and reposted on Wenxuecity.com, April 10, 2015 http://www.wenxuecity.com/news/2015/04/10/4178601.html

Briefings | | May 8, 2015 | Government/Politics

The Central Party School Promotes Four Comprehensives û Xi Jinping’s New Theory

On April, 27, 2015, the website of the Party School of the Chinese Communist Party Central Committee (http://www.ccps.gov.cn/) published an article that promoted Xi Jinping’s new theory. Xi Jinping, the current General Secretary of the CCP Central Committee, has presented his new theory as “Four Comprehensives.” That is, the China would work comprehensively to build up a moderately prosperous society, comprehensively deepen reforms, to comprehensively govern the nation according to the law; 4) comprehensively be strict in governing the Party.

According to article, Xi Jinping’s new “Four Comprehensives” theory is rich in content and great in its system. It is the ideological guidance and theoretical guidelines to realize “China Dream” of the great rejuvenation of the Chinese nationality. It can also guide us to do all kinds of jobs. … The important and far-reaching significance is self-evident.”

Source: Website of Party School of the Chinese Communist Party Central Committee, April 27, 2015

http://www.ccps.gov.cn/theory/zjzx/201504/t20150427_59642.html

Briefings | | May 7, 2015 | 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.