Chinascope – Page 773

Huanqiu on Corrupt Chinese Officials Hiding in the U.S.

Huanqiu published a report on corrupt Chinese officials who have fled China. The report was titled, “U.S. Media: China Has Provided a List of a Thousand Corrupt Chinese Officials Who have Fled to the U.S.”

“Since the 18th Congress of the Chinese Communist Party, China’s anti-corruption and clean government measures have attracted attention both at home and abroad. One hot topic is how to bring those criminals who are corrupt officials and have fled China to justice. The U.S. media said that China has provided the U.S. with a list of such corrupt officials. The list contains the names of more than 1,000 people. Although from time to time the United States publishes the so-called news that ‘the U.S. will help China arrest corrupt officials,’ due to the lack of an extradition treaty and because of the complexity and the lengthy judicial procedures, apprehending those corrupt officials hiding in the United States faces numerous difficulties. In the past 10 years, only two people were repatriated from the United States to China, while recently, the exodus of corrupt officials has been speeding up. Some U.S. law enforcement officials and legal professionals have told the Global Times reporter that China and the U.S. should truly carry out judicial cooperation through diplomacy and bring these corrupt officials to justice. At the same time, China and the U.S. should pay attention to the new characteristics of the funds from corruption that are fleeing China and close the loopholes in surveillance and control that have allowed these corrupt funds to escape from China.”

Source: Huanqiu reprinted by Xinhua, May 12, 2014

http://zgws.xinhuanet.com/info.aspx?id=48790&typeid=20

Briefings | | May 15, 2014 | Government/Politics

Xinhua: Capital for Real Estate Companies Is Drying up

Xinhua recently reported that, according to the E-House Real Estate Research Institute’s "Report on Real Estate Enterprises’ Capital in the First Quarter of 2014," China’s real estate companies are tight on money.

For the first quarter, the year-on-year increase in the rate of fully-funded capital was 6.6 percent, a significant drop from last year’s 26.5 percent. On the source of capital, year-on-year foreign investment decreased 33.9 percent, while money from domestic lending and self-raised capital increased by 20.4 percent and 9.6 percent respectively.
The year-on-year increase in the rate of money lent domestically, foreign investment, self-raised money, and other sources of capital also dropped by 12.7 percent, 66.7 percent, 11.7 percent, and 30.8 percent respectively.

Unlike the tight money in real estate, the land market was still hot. Ten typical cities’ land transfer fees totaled 269 billion yuan (US$44 billion), an increase of 83.1 percent from a year ago. The total in land transfer fees from first tier cities (Beijing, Shanghai, Guangzhou, and Shenzhen) was 175 billion yuan (US$28.6 billion), which was 35 percent of last year’s annual amount.

As both overseas capital and domestic capital are drying up and as land prices keep increasing, the real estate business faces a severe money challenge. "Mid-level and small companies need to prepare for bad times. Some companies that can only tolerate a low risk may be forced out of the market."

Source: Xinhua, May 13, 2014
http://news.xinhuanet.com/house/bj/2014-05-13/c_1110654420.htm

Briefings | | May 14, 2014 | Economy/Resources

Global Times: There Is No Person in the Military That We Can’t Touch

Global Times published an article promoting the anti-corruption campaign in the military. The article stated that, although the public received the Xi Jinping-headed anti-corruption campaign very well, recently some voices have suggested that this kind of anti-graft action will create chaos in the military. The fallacy was even put forth that "the military can lead the spiritual civilization campaign, but not the anti-corruption campaign."

The article rebutted these views by stressing that only a clean army can defend the country well. "There is no person in the military that we can’t touch [with a corruption charge]."

The article acknowledged that the anti-corruption campaign is a tough job and suggested three areas to focus on: (1) the officers, (2) the two fields where corruption is intense – personnel management and military property management, and (3) the cause of corruption – low moral standards and wrong ideology.

Source: Global Times, May 12, 2014
http://mil.huanqiu.com/observation/2014-05/4992407.html

Briefings | | May 14, 2014 | Government/Politics

China Review News: Xi Jinping’s International Strategy

China Review News published a commentary on Xi Jinping’s international strategy for China. A few points it mentioned follow:

1. China wants a peaceful development path; it also needs other countries to take the peaceful approach. If some country takes China’s restraint and patience as a sign of weakness, and takes advantage of China’s suggestion of solving conflicts via political dialog and the diplomatic approach, it will pay dearly for it. “China is not afraid of conflict, nor does it want conflict. One should not separate peaceful development from safeguarding our national interest. China’s core national interest is not allowed to be attacked or harmed.”

2. China is working on the following international relationships:

– Establishing a new type of relationships with major countries. For the U.S., take the approach of no-confrontation, mutual respect, and cooperation for a win-win situation. For Russia, treat each other as the largest and most important strategic partner. For the Europe Union, focus on the trend of change there and the on development opportunities. For India, take the advantage of the rapid development trend in both countries and engage in cooperation and joint-development.

– Advance the diplomatic relationship with neighboring countries. In the next five to ten years, create win-win situations, push for regional security cooperation, and establish a public opinion base for a sense of community.

– Set up the right view of righteousness and interest in order to strengthen and develop the cooperation with developing countries. For those countries that have been a long-term friend of China but are having a hard time with their own development, China should give greater consideration to their interests.

– Be more active in international affairs.

Source: China Review News, May 7, 2014
http://hk.crntt.com/doc/1031/7/0/1/103170107.html?coluid=151&kindid=11513&docid=103170107&mdate=0507000519

Briefings | | May 14, 2014 | Geo-Strategic Trend

HSBC’s April Chinese Manufacturing PMI Remains Low

Well-known Chinese news site Sina Finance recently reported that the newly released HSBC April Chinese Manufacturing PMI (Purchasing Managers Index) number remains low, at 48.1. This key indicator has remained below 50 for four consecutive months. Both “new export orders” and the “employment rate” have dropped significantly. Qu Hongbin, the HSBC Chief Economist for the China Region, commented that the domestic demand level recovered slightly but still remains low. He expressed the belief that the new numbers demonstrate that the manufacturing sector as well as the whole Chinese economy are still slowing down and that more economic stimulation policies are needed. PMI is an indicator of financial activity reflecting the purchasing managers’ acquisition of goods and services. A PMI number below 50 typically reflects a decline.

Source: Sina Finance, May 5, 2014

http://finance.sina.com.cn/china/hgjj/20140505/103519001934.shtml

Briefings | | May 13, 2014 | Economy/Resources

China News: The Canton Fair Reflected a Weak Import Export Situation

China News recently reported that China’s largest trade show, the China Import Export Fair (also known as The Canton Fair), closed on May 5 in Guangzhou, Canton Province. The 115th Canton Fair, widely regarded as “China’s International Trade Barometer,” attracted significantly fewer foreign attendees than last year, while the volume of signed export agreements also fell. Over 55 percent of the foreign procurement representatives were from Asia. Those from Europe and North American combined held only around one third of the foreign customers. The main region that saw an increase of the number of buyers was Africa. This round of the Canton Fair concluded with a total export volume of US$31 billion, which represented a 12.64 percent decrease from last year. The Spokesperson for the Fair indicated that the outcome was slightly disappointing; however, it correctly reflected a very slow recovery of the global economy, especially in China’s “traditional European and American markets.” Another key observation at this Fair was that most (more than 80 percent) of the contracts were short-term contracts (less than six months into the future).

Source: China News, May 5, 2014

http://finance.chinanews.com/cj/2014/05-05/6135380.shtml

Briefings | | May 13, 2014 | Economy/Resources

Qiu Shi: China’s African Investment Model Upgraded

Qiu Shi, a magazine of the Communist Party Central Committee, recently published an article discussing the strategy of investing in Africa. The author expressed the belief that China’s pace of entering the African market is speeding up. China’s primary investment focus has shifted from mines to infrastructure-building. In its plans for the future, agricultural and financial cooperation are the next steps. For the past five years in a row, China has been Africa’s largest trading partner. The trade volume in 2013 was over US$200 billion. China has been helping many African countries turn natural resources into economic power sources by spending money made in mining to develop hospitals, roads, the education system, and water processing facilities. Africa’s high speed economic growth is opening up many new market segments, such as communications. For example, Large Chinese companies such as ZTE, Huawei, and Shanghai Bell have already established footholds in the African communications market. With more and more Chinese investments pouring in, the Chinese currency has become the number one choice of reserve currency for Angola, Nigeria, Tanzania, Ghana, Kenya, and South Africa.

Source: Qiu Shi, May 7, 2014

http://www.qstheory.cn/jj/jjyj/201405/t20140507_346875.htm

Briefings | | May 13, 2014 | Geo-Strategic Trend

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.”