Chinascope – Page 785

In January the Number of Housing Transactions in Beijing Hit Second Lowest in Nine Years

The Yahao Real Estate Selling and Consulting Solution Agency recently released statistics on the Beijing housing market. According to those statistics, in January 2014, there were a total of 6,908 transactions in the Beijing real estate market. These properties covered 744,200 square meters. In terms of the number of transactions and the total square meters of the properties involved in the transactions, the figures represented a 40 to 50 percent drop compared to December 2013 and to the same period in January 2013.

At the same time, at 6,908, the number of transactions for January 2014 was the second lowest in the almost nine years since 2006 when transactions started to be posted online to increase transparency in the housing market.

The China Index Academy monitored the January real estate transactions in 43 major cities and found that over 90 percent of these cities saw a decline from December 2013 in the total number of transactions. Bangbu was hit the hardest with a 56.78 percent decline, followed by Dalian’s with a 53.11 percent decline. The number of transactions in Shenzhen dropped by 44.4 percent, Beijing by 36.8 percent and Shanghai by 30.65 percent.

Source: Beijing Times reprinted by Huanqiu, February 23, 2014

http://china.huanqiu.com/roll/2014-02/4852590.html

Briefings | | February 27, 2014 | Economy/Resources

Study Times: Take the Initiative to Move Forward on the Road to RMB Internationalization

On February 24, 2014, Study Times, the publication of the Party School of the Central Committee of the CCP, published an article titled “RMB Internationalization Leads Chinese Economic Breakthrough.” The article reported that the People’s Bank has signed a currency swap agreement with the European Central Bank and the Bank of England, two of the three “World Central Banks.” According to the article, a currency swap with major world powers is a convenient way to realize the internationalization of the RMB. China’s economy has reached a critical juncture. It is time to take the initiative to move forward on the road of RMB internationalization. However, a currency war may be bloody and violent.

Source: Study Times, February 24, 2014
http://www.studytimes.com.cn/shtml/xxsb/20140224/3929.shtml

Briefings | | February 26, 2014 | Economy/Resources

The Chinese Communist Regime’s Strategies to Overpower the U.S.

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The Chinese Communist Party (CCP) ghost is still behind every building block of Chinese society, while China’s economy has expanded to a scale comparable to that of the U.S. People who live in a society that doesn’t require having to face the CCP in their daily lives tend to underestimate the Party’s impact.

Although the U.S. government and the American people have never been China’s enemy, due to their conflicting ideologies, U.S. democracy and its values have presented the biggest threat to the CCP’s continued existence. This has been particularly true since the CCP attempted economic openness at the international level, while still trying to keep its political system unchanged. How the communist regime views and treats U.S.-China relations has therefore become quite complex.

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Analyses | | February 25, 2014 | Opinion

Xinhua: The West’s Strong Intervention Caused the Chaos in Ukraine

Xinhua recently reported on the fall of Ukraine’s Yanukovych government, which had been closer to Russia. The report expressed the strong belief that the heavy intervention that the West imposed significantly encouraged the opposition to “raise the price” against the Yanukovych government. Ever since the beginning of the crisis, the European Union and the United States have stood strongly behind the opposition. High ranking EU and U.S. government officials frequently visited Ukraine during the crisis. Some appeared in person right at the center of the demonstrations and even delivered speeches. The report downplayed the role Russia had in the process by saying Russia engaged in the negotiations too late and could do little to change the direction. The report concluded that uncertainty is still the key word to describe the situation currently in Ukraine.

Source: Xinhua, February 23, 2014

http://news.xinhuanet.com/world/2014-02/23/c_126176278.htm

Briefings | | February 25, 2014 | Geo-Strategic Trend

China News: China Made Solemn Protest against Obama’s Meeting with the Dalai Lama

China News reported on February 22 that Zhang Yesui, the Chinese Deputy Minister of Foreign Affairs, summoned the U.S. Embassy charge d’affaires Daniel Kritenbrink to protest the recent meeting between President Obama and the Dalai Lama. Zhang called this a “wrong move,” saying it severely interfered with China’s internal affairs and it caused significant damage to the China-U.S. relationship. Zhang expressed “strong indignation and opposition.” The Chinese spokesperson from the Ministry of Foreign Affairs also pointed out that the Dalai Lama has long been performing the function of splitting China under the name of religion and that the U.S. move violated its promise not to support the idea of an independent Tibet. He also asked the U.S. government to take immediate steps to eliminate the “adverse effects” so as to prevent further damage to the relationship between the U.S. and China.

Source: China News, February 22, 2014

http://www.chinanews.com/gn/2014/02-22/5869673.shtml

Briefings | | February 25, 2014 | US-China Relations

China Daily: RMB Depreciation Signals Economic Slowdown

China Daily recently reported that on February 19, the Chinese currency, the RMB, sharply depreciated by nearly 100 points against the U.S. Dollar. At least two Chinese major banks triggered this dramatic market change by buying the U.S. Dollar for no apparent reason. Some experts suggested that worries about a tangible slowdown of the Chinese economy is changing people’s positive attitude towards the Chinese currency. The offshore RMB exchange rate and offshore RMB futures also dropped immediately. According to Sina Finance, the official RMB to U.S. dollar exchange rate fell another 88 points on February 21; it thus reached the lowest point since last December. This round of sudden RMB depreciation occurred when there was no other clear market fluctuation.

Source: China Daily, February 19, 2014

http://caijing.chinadaily.com.cn/xfly/2014-02-19/content_11244630.html

Sina Finance, February 21, 2014

http://finance.sina.com.cn/money/forex/20140221/111618291056.shtml

Briefings | | February 25, 2014 | Economy/Resources

People’s Daily: Revenue from Land Sales Was 33 Percent of National Financial Income

People’s Daily published an article titled, “It Is a Dangerous Sign that Revenue from Selling Land Has Become the Major Source of Income for Municipal Governments.” The article said that, according to the statistics published by the Ministry of Land and Resources, in 2013, income from land sales was 4.1 trillion yuan (US$0.67 trillion) which was 33 percent of the national income. The article stated that, ten years ago, the cost of land was 20 percent of the cost of housing. In recent years however, it has grown to be 60 percent or even higher. The article pointed out, “Land sales may appear positive but it sends many dangerous signals. … The municipal government can easily rely on land as its income source rather than developing its own economy or making changes to its economic structure. This also increases the financial risk while it impairs the stability and safety of the tax revenue.”

Source: People’s Daily, February 23, 2014
http://finance.people.com.cn/n/2014/0223/c1004-24436578.html

Briefings | | February 24, 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.