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Sina Finance: China’s Economy Is Slowing Down

Well-known Chinese online financial news portal Sina Finance recently reported that, although rapid growth has made China the world’s second largest economy, the Chinese economy is suffering its lowest growth rate in over twenty years. Many key western investors have started cutting jobs in their Chinese operations. Examples are Hewlett-Packard (HP), International Business Machines (IBM), Johnson’s, and software services provider Bsquare Corp. According to the Chinese government’s official numbers, foreign investment grew 4.7 percent, while domestic investment growth reached 19.9 percent, as compated to the same period last year. Based on statistics provided by a large Chinese online job market vendor, overall job offers increased by 30 percent. However, at the same time, offers from western companies declined by 5 percent. Interviews of well-known headhunter companies also confirmed that business from international companies has shown a significant slow-down. 
Source: Sina Finance, December 13, 2013
http://finance.sina.com/bg/tech/sinacn/20131213/0344924833.html

Global Times: Japan Insisted on Adding Content to ASEAN Summit Announcement

Global Times recently reported that Japan insisted on adding language regarding the newly established Chinese Air Defense Identification Zone to the joint announcement of the Special Summit between Japan and ASEAN (Association of Southeast Asian Nations). Japan wanted to mention the importance of “safety and the freedom of flight over the high seas.” Japan firmly insisted on the addition despite the unwillingness of some ASEAN countries. The final draft also included the agreement that the nations involved would coordinate on the Chinese Identification Zone issue under ICAO (International Civil Aviation Organization). The Chinese Ministry of Foreign Affairs stated that China “noticed the related reports” and would like to suggest that countries should not go against a third party when developing relationships.
Source: Global Times, December 13, 2013
http://world.huanqiu.com/exclusive/2013-12/4660856.html

Xinhua: Central Government Economic Work Conference Held in Beijing

Xinhua reported that China’s Central Government Economic Work Conference was held from December 10 to 13. All members of the Standing Committee of the Communist Party Politburo attended the Conference. President Xi Jinping delivered an important speech summarizing the economic work done in 2013. He explained his overall requirements and goals for 2014. Premier Li Keqiang laid out his macroeconomic policies as well as detailed arrangements of the path to the deliverables. The Conference pointed out six focal tasks for the coming year: (1) Firmly ensuring national food security; (2) Vigorously adjusting industrial structures; (3) Pressing hard on debt risk prevention and control; (4) Actively promoting coordinated development among regions; (5) Protecting and improving the livelihood of the people; and (6) Continuously raising the level in implementing the nation’s “Opening-Up” policy. The Conference called for sustaining “steady growth” while implementing adjustments and reforms. The officials in top leadership from all provinces, key cities, central government ministries, primary state-owned companies, and banks, as well as the military attended the Conference. 
Source: Xinhua, December 13, 2013
http://news.xinhuanet.com/politics/2013-12/13/c_118553239.htm

China Domestic Documentary Films Seek to “Step Out” to the International Market

People’s Daily reported that the China International Documentary Film Festival was held in Guangzhou China from December 8 through 12. 2,071 documentary films from 72 countries and regions participated in the festival. Participants reached agreements on documentary film contracts having a total value of150 million yuan (US$24.7 million). This was the highest amount reached in the film festival’s history.

The focus of the film festival centered on how the domestic documentary film industry can collaborate with the international market in order to “let China step outside and let the world understand China.” Reports indicated that a formal channel and procedure has been set up by the General Administration of Press, Publication, Radio, Film and Television to standardize the process of producing and marketing documentary films. There were also discussions on how to make domestic documentary films adapt to the international market and make their contents fit so that overseas audiences can better understand them.

Reports also indicated that the General Administration of Press, Publication, Radio, Film and Television will not only increase its funding on documentary films; it has also requested that 34 television stations air a minimum of 30 minutes of domestically produced documentary films each day.

Source: People’s Daily, December 13, 2013
http://culture.people.com.cn/n/2013/1213/c87423-23830039.html

State Internet Information Office: Internet Media to Do Better at Bearing Social Responsibilities

On December 13, the China Internet Information Office held a conference on preventing false news reports and improving the credibility of Internet media. The conference addressed the phenomenon that certain media tend to seek news that has an effect, while falsely reporting the news. Ren Xianliang, Vice minister of the State Internet Information Office spoke at the conference. Ren stressed the importance of each Internet site implementing effective measures to standardize Internet news broadcast procedures in order to prevent false news reporting, to improve the credibility of Internet news media, and to gain the public’s trust. Representatives from news media including People’s Daily, Xinhua, China Network Television, China Radio International and commercial websites including sina, sohu, 163, qq and Baidu attended the conference.

Source: Xinhua, December 13, 2013
http://news.xinhuanet.com/politics/2013-12/13/c_118552854.htm

Outlook Weekly: Party Cadres Must Consciously Master Special Skills

On December 16, Xinhua carried an article which was originally published in Outlook Weekly titled "Party Cadres Must Consciously Master Special Skills." In the article, it reiterated points from the recent talks that Xi Jinping gave on various occasions on the need for Party cadres at different levels to study Marx’s original works. The article stated that China’s current situation provides sufficient proof that the Marxist philosophy works well and is still a powerful way to provide guiding principles for the Party. The article stated that the latest major decisions that the Party has made suggest that the Party is good at utilizing the Marxist philosophy. It went on, “Work hard to master Marxist philosophy as a special skill; be steadfast in the ideals and beliefs; pursue a correct political direction; improve the ability of strategic thinking and decision making and the capacity for overall control." 

Source: Xinhua, December 15, 2013
http://news.xinhuanet.com/politics/2013-12/15/c_118561246.htm

Huanqiu: Biden’s Beijing Trip Made Japan Recognize Who Is the Real Master

Huanqiu (Global Times), a subsidiary under People’s Daily, published an article stating that U.S. Vice President Joe Biden’s position in China made the noisy Japanese media "cool down." The article stated, in quoting a report by Hong Kong’s Oriental Daily, that on multiple public occasions in Beijing, Biden talked mainly about "the United States and China actively promoting the advancement of new relations between big powers" rather than the air defense identification zone. This made Japan, who asked the U.S. to do this and that, recognize "who is the real master and who can give orders." 

The article also claimed that, in his meeting with Chinese President Xi Jinping, although Biden provided the reason why the United States is against China’s setting up the identification zone, China’s response was clearly the more important focus. Xi Jinping strongly rebutted him. The article stated that the foreign media that expected the United States to send a strong signal to China commented, "Biden’s visit to China was rebuffed." "Biden made the Japanese worry about the U.S. attitude." 

Source : Huanqiu, December 6, 2013 
http://world.huanqiu.com/exclusive/2013-12/4635259.html

Scholar: Six Misconceptions That Hinder Reforms

Zhang Weiying, a professor at the Guanghua School of Management at Beijing University wrote that there are six misconceptions that hinder further reforms in China. 

1. “The ‘China Model theory’ is a very wrong idea. … We are actually a parasitic economy – others built the road and we now walk on it. It is natural that we walk faster. That does not prove that we are greater than others. Nor does it prove that our system is superior.” 
2. For the relationship between political system reform and economic system reform, Zhang expressed the belief that the era when an economic system could adopt the market mechanism without political system reform has long passed. “Without political system reform, there is little room for economic system reform.” 
3. Zhang noted that the current system does not necessarily benefit vested interest groups. “[They must] understand that human rights are better than special privileges. … Without human rights, one lives without security. Those who live in anxiety cannot be happy people regardless of how much wealth and privilege they have.”
4. As for the statement that State-owned enterprises are the foundation for Communist rule in China, Zhang said, “I think this notion is totally wrong. There was Communist rule first, then the State-owned enterprises, not vice versa.” 
5. “The statement that power comes from the gun is also wrong. The true foundation of political power is whether people consider it legitimate. When people have the idea that the legitimacy of political power has been lost, the military forces cannot maintain political power because the military follows that idea.” 
6. “The fallacy ‘the more the power, the stronger the government’ confuses power and authority. History and reality show that the stronger government is the one that restrains its power, not the one with unlimited power. The reason is that, in fact … a government that people do not trust cannot be a strong government.” 
Source: Financial Times (Chinese Edition), December 10, 2013 
http://www.ftchinese.com/story/001053841/?print=y