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Xi Jinping: Anti-Corruption Remains Tough and Complicated

On January 14, 2014 at the third plenary session of the 18th Communist Party Central Commission for Discipline Inspection in Beijing, Xi Jinping acknowledged, “The breeding ground for corruption still exists and the anti-corruption situation remains tough and complicated.”

“All Party members must fully understand the nature of the long-term, complicated, and arduous anti-corruption fight. With the determination to cure a disease with powerful drugs and the courage to scrape the poison off the bone and cut off one’s own snake-bitten wrist to save one’s life, [we must] resolutely carry on the campaign until the end to build a fine Party culture, keep its organizations clean, and fight against corruption.”

“We will harshly disciple corrupt officials as we find them.”

Source: Xinhua, January 14, 2014

http://news.xinhuanet.com/politics/2014-01/14/c_118967450.htm

Briefings | | January 16, 2014 | Government/Politics

China’s Minister of Culture: Balance the Economic and Social Benefits of All Cultural Products

On January 10, 2014, the all-China Journalists’ Association held a “Press Salon” for diplomats and reporters. At the event, Cai Wu, China’s current Minister of Culture, explained the on-going reform of China’s cultural system. Cai explained that the government will no longer own and financially support China’s cultural institutions including organizations such as dance, music, art, drama, and movie companies. They will need to make their own living and make a profit. However, the Chinese government must still take tight control over what is necessary on the macro level [ideologically and politically]. Therefore, the Chinese government will help to establish non-profit cultural organizations and neutral bodies to balance the “economic benefits” and the “social benefits” of all cultural products.

Source：China Review News，January 10， 2014
http://hk.crntt.com/doc/1029/7/3/2/102973262.html?coluid=151&kindid=0&docid=102973262&mdate=0111002857

Briefings | | January 15, 2014 | Government/Politics

China Review News Agency: The End of the U.S. QE Measures Will Lead to Massive Capital Outflow

On January 6, 2014, China Review News published an article on China’s economy. According to the article, the slower growth of China’s economy in 2013 was the result of the government’s nationwide macro-control. While maintaining stable economic progress in 2014, the Chinese government will push forward economic reform. However, the approaching end of the U.S. quantitative easing (QE) measures will cause the withdrawal of hot money from China and even lead to a massive capital outflow. Therefore, China must get ready to deal with a shortage of money.

Source: China Review News, January 6, 2014
http://hk.crntt.com/doc/1029/6/2/6/102962683.html?coluid=53&kindid=0&docid=102962683&mdate=0106080210

Briefings | | January 15, 2014 | Economy/Resources

Xinhua: China to Test Privately Owned Banks This Year

Xinhua recently reported that the China Banking Regulatory Commission (CBRC) announced on January 7 that China is set to start an experiment to allow banks to be fully privately owned. The CBRC is planning to take a very conservative approach and allow only three to five banks this year. Meanwhile private capital can now be part of the ownership of current banks. The fully private banks will only be able to do business under a “limited license,” which will impose restrictions on the scope of business, operating regions, and customer profiles. In addition to these “limited restrictions,” all private banks will be required to establish a “will,” which must explain what will happen if the bank were to file for bankruptcy in a circumstance where taxpayers provided no bailout. Over thirty publicly traded companies have filed their applications to enter the banking business.

Source: Xinhua, January 7, 2014

http://news.xinhuanet.com/2014-01/07/c_125965308.htm

Briefings | | January 14, 2014 | Economy/Resources

People’s Daily: Land Resources Restricted in Cities with Population over Five Million

People’s Daily recently reported that Jiang Daming, Minister of Land and Resources, announced in a speech given at a conference that from now on cities with a population of over five million will not be granted new land resources for construction. However, this new rule does not apply to land that’s considered “living space,” which means the housing market will not immediately be impacted. Most of the capital cities of the provinces fall within the scope of the new rule. This is in line with the recently announced new policy of strict control of the scale of the population in large cities. The new rule focuses on managing the supply of industrial and business land. The Ministry of Land and Resources is encouraging cities to make better use of the land they have already been granted. Jiang also pointed out that, in addition to this new rule, more regulations are being planned to enable the clear identification of city boundaries. The up-coming policies will ensure the safety of permanent agricultural land.

Source: People’s Daily, January 10, 2014

http://politics.people.com.cn/n/2014/0110/c70731-24086306.html

Briefings | | January 14, 2014 | Economy/Resources

CRN: China’s Economy Faces Four Major Challenges

China Review News (CRN) recently published an article discussing China’s macroeconomic trend, based on the goals set by the recent Third Plenary Session of the 18th Central Committee Conference of the Communist Party. The author expressed the belief that China’s rapid economic growth was largely based on demand that was not domestic. Over the past 35 years, China’s domestic consumer market has been playing less and less of an important role in its GDP numbers. The article identified four primary challenges China faces: 1) Taking advantage of the rapid developments in the science and technology space; 2) Reducing the dependency on pure government investments for economic growth; 3) Adjusting the economy gracefully to deal with the lack of younger workers due to an aging society; 4) Balancing the domestic economy and China’s role in the global economy. The author called for a significant change of the economic growth model and structure so as to focus more on domestic consumers.

Source: China Review News, January 12, 2014

http://hk.crntt.com/doc/1029/7/4/5/102974525.html?coluid=53&kindid=0&docid=102974525&mdate=0112082909

Briefings | | January 14, 2014 | Economy/Resources

State Oceanic Administration: Half of Ocean Waste Water Discharge Outlets Exceed Pollution Level

According to the State Oceanic Administration, the latest statistics show that, out of 156 ocean waste water discharge outlets in China, 78 of them, or 50 percent exceed the allowable level of pollution, especially in phosphorus, suspended solid waste, and the chemical oxygen demand level. In addition, seawater encroachment and soil salinization both worsened compared with 2012.

Source: Xinhua, January 10, 2014
http://news.xinhuanet.com/politics/2014-01/10/c_118922927.htm

Briefings | | January 13, 2014 | Economy/Resources

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.”

Xi Jinping: Anti-Corruption Remains Tough and Complicated

China’s Minister of Culture: Balance the Economic and Social Benefits of All Cultural Products

China Review News Agency: The End of the U.S. QE Measures Will Lead to Massive Capital Outflow

Xinhua: China to Test Privately Owned Banks This Year

People’s Daily: Land Resources Restricted in Cities with Population over Five Million

CRN: China’s Economy Faces Four Major Challenges

State Oceanic Administration: Half of Ocean Waste Water Discharge Outlets Exceed Pollution Level

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