Chinascope – Page 753

Xinhua: Development Bank Plan Expected to Be Finalized at the BRICS Summit

Xinhua recently reported that the Sixth BRICS Summit will be held in Brazil on July 15. It is widely expected that the Summit will finalize the plan to establish the BRICS Development Bank and the BRICS Contingency Reserve Fund. The initial capital investments into the Bank will total US$50 billion. Each member country is expected to supply US$10 billion. The Reserve Fund will have US$100 billion to handle unexpected emergency situations. China is expected to provide US$41 billion to the Reserve. Russia, Brazil, and India will contribute US$18 billion each and South Africa will supply US$5 billion. Brazilian officials indicated that the two new mechanisms are in response to the lack of democracy in the World Bank and the International Monetary Fund (IMF). The BRICS Bank is planning to focus its investments on infrastructure-building in poor countries. The World Bank commented on the news that it welcomes the new BRICS Bank and the effort to fight poverty. While the BRICS member countries together will always hold a minimum of 55 percent of shares, the Bank welcomes other UN members to join.

Source: Xinhua, July 10, 2014

http://news.xinhuanet.com/world/2014-07/10/c_126736409.htm

People’s Daily, July 9, 2014

http://world.people.com.cn/n/2014/0709/c1002-25261295.html

Briefings | | July 15, 2014 | Geo-Strategic Trend

BBC Chinese: State TV Report Labelled the iPhone “Dangerous”

BBC Chinese recently reported that, on Friday (July 11), as part of its national news program at noon, China Central Television (CCTV) broadcast news that labelled the Apple iPhone a "national security threat." CCTV criticized the "frequent locations" function of the Apple’s iOS 7 operating system, saying that researchers believe data points recorded by the feature could give those with access to this data knowledge of Chinese intelligence and even "state secrets." The TV report said, “The location data are very sensitive.” BBC Chinese mentioned in its report that official Chinese media have frequently criticized Apple about such issues as the “poor customer service” incident that occurred not long ago. [Editor’s note: On July 13, Apple responded to the CCTV report stating emphatically that the company has never and, in the future, will not obtain users’ “frequent locations” data and that the firm has never created a "backdoor’ in any of its products.”]

Source: BBC Chinese, July 11, 2014

http://www.bbc.co.uk/zhongwen/simp/china/2014/07/140711_china_cctv_apple_iphone.shtml

South China Daily, July 13, 2014

http://tx.southcn.com/tongxin/content/2014-07/13/content_104130252.htm

Briefings | | July 15, 2014 | US-China Relations

Report Shows Internet Speeds Below Standard and Compensation Policies Lacking

According to a 2014 investigative report on Internet speed in the Beijing region, over 97 percent of the customers signed a contract for an Internet speed of over 10 megabits per second (Mbps). Among those, three percent chose a 100 Mbps contract and 11 percent chose 50 Mbps. The report showed that the download speed that most of the Internet companies claimed to provide was below the standard, especially for the ones who claimed to carry the 100 Mbps broadband width. The report said that most of the Internet carriers, especially the second or third tier carriers, are frauduent. In the meantime, most of the Internet users are unaware of the slower speed. The report stated that only one Internet company in Beijing has a compensation policy (to reimburse subscribers) if the internet speed goes below the standard.

Source: Xinhua, July 13, 2014
http://news.xinhuanet.com/fortune/2014-07/13/c_1111588264.htm

Briefings | | July 14, 2014 | Information/Technology

Income from Shanghai Internet Game Industry Reached 25.5 Billion Yuan

Recently, the Shanghai Municipal Bureau of Press and Publications published statistics on the revenue from Shanghai’s game industry. According to those statistics, the total 2013 Internet game revenue, including client server games, online games, and mobile games reached 25.5 billion yuan (US$4.11 billion), up 34.2 percent from 2012. This amount accounted for 30.7 percent of the Internet game revenue in China. Of these three types of games, client server games accounted for 66.5 percent of the total revenue, online games accounted for 24.9 percent, and mobile games accounted for 8.6 percent, which was double the amount in 2012.

Source: People’s Daily, July 11, 2014
http://game.people.com.cn/n/2014/0711/c40130-25266887.html

Briefings | | July 14, 2014 | Information/Technology

2013 Blue Book on the Development of Radio, Film, and Television Published

On July 10, the State Administration of Press, Publication, Radio, Film, and Television published its 2013 Blue Book on the development of radio, film, and television. According to the statistics published in the Blue Book, in 2013, 824 new movies were produced; 326 of them played in theaters and 498 or 60 percent of the new movies didn’t make it to the theater. The movie box office revenue in 2013 was 21.7 billion yuan (US$3.5 billion), 12.7 billion of which came from domestic films. The total investment in television dramas was 10.3 billion yuan (US$1.67 billion) where 441 television dramas and 15,770 series were produced. The figures were down by 65 television dramas and 1,933 series compared to 2012. In addition, the growth rate in radio and television advertising decreased by 2.74 and 6.97 percent respectively compared to 2012. The Blue Book concluded, “It means that the traditional radio and television market is shrinking and the business model for this industry needs to be upgraded.”

Source: Xinhua, July 11, 2014
http://news.xinhuanet.com/book/2014-07/11/c_126738965.htm

Briefings | | July 14, 2014 | Government/Politics

Global Times: No U.S. Conspiracy? Kerry Please Prove It with Action

China’s state media the Global Times published a special invited commentary article about U.S. Secretary of State John Kerry’s remark in an interview with CCTV. Below is an excerpt from the article.

“Recently, in an exclusive interview with CCTV, U.S. Secretary of State Kerry said that China really should abandon the so-called American conspiracy theory, which is to say that the U.S. Asia-Pacific rebalancing strategy is not against China or to contain China. Many [Chinese] netizens questioned whether that is true.”

“Chinese netizens did not take this statement seriously. Many responded to Kerry: [It is] ‘deceiving,’ ‘adding insult to injury,’ ‘The villain is obvious,’ ‘Comrade Kerry, you got the wrong manuscript,’ ‘Every time China wants to give up the American conspiracy theory, the United States always hits your face with the facts,’ ‘Whenever the United States abandons its conspiracy, we will abandon the American conspiracy theory,’ and so on.”

“Americans [always] give [the best] explanation of the American conspiracy theory with their actions. U.S. officials, including Obama, have claimed on several occasions that the Asia-Pacific rebalancing strategy is not aimed at China. However, since the start of this year, the United States has frequently created troubles for China.”

“Sino-U.S. relations are quite grim. The Washington Post reported on the 7th that some experts believe that China-U.S. relations are currently facing the most severe test since President Nixon’s visit to China in 1972. On June 26, the U.S. National Interest magazine website published an article by Michael Vlahos stating that history reminds people that the outbreak of a Sino-U.S. war is indeed possible. Some Internet users believe that if the United States does not change its policy of containment against China, talk will only be negotiations about some of the little specific things and it will not solve the Sino-U.S. friction and the deep-level contradictions.”

“We really hope that the ‘American conspiracy theory’ is just ‘hearsay.’ We really hope that the U.S. realizes that ‘the containing China’s theory is wrong, a hundred percent wrong.’ It is of no use if the United States only says it. The key is to come up with action. Establishing new relations between big powers, one has to start bit by bit, rather than shout with exaggerated, empty words.”

Source: Huanqiu (Global Times), July 10, 2014

http://opinion.huanqiu.com/opinion_world/2014-07/5057164.html

Briefings | | July 11, 2014 | US-China Relations

Tencent: Seven Ways to Transfer Funds Out of China

According to Tencent Financial, the wealthy in China use a number of means to transfer large amounts of money out of China.

Underground banks conduct the largest share of this type of business. When funds are deposited into an account in an underground bank in China, the client can withdraw the foreign equivalent from an overseas account at the same bank. A second method is currency exchange agents. They secure enough people who will lend their residence cards to exchange up to $50,000 per residence card. Therefore, for one large transfer, it may take days or even weeks to locate enough people.

Other methods include import and export trading companies that engage in money laundering as a side business. Gambling in Macao provides another channel to transfer funds out of China. Some people set up an offshore company and transfer funds little by little through an intermediary. This approach takes a long time and requires expertise in international accounting principles.

A lesser known method is to purchase U.S. real estate investment funds. Then at the end of the investment period, the funds remain in the U.S. Some people in Southern China purchase insurance policies from the Hong Kong market. The high premium insurance allows the policy holder to cancel and to change the beneficiary. Once the insured or the beneficiary arrives in Hong Kong, they cancel the insurance and receive a refund of the premium.

Source: Tencent Financial, July 10, 2014

http://finance.qq.com/a/20140710/013803.htm

Briefings | | July 11, 2014 | 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.