Chinascope – Page 834

Xinhua: Key National Banks Suffered Savings Account Money Reduction of One Trillion

Xinhua recently reported that the four largest state-owned banks had a decline of RMB one trillion (around US$163 billion) in customers’ savings accounts in the first three weeks of July alone. The speed at which these four banks approved loans also slowed significantly. These four largest banks are the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, and China Construction Bank. Their savings account losses are (in RMB) 346 billion, 234 billion, 180 billion, and 250 billion, respectively. Experts expressed the belief that, due to the fact that customers are not putting their money into these banks, the pressure is high on the interest rate side. It will be more expensive to obtain loans.

Source: Xinhua, July 25, 2013

http://news.xinhuanet.com/fortune/2013-07/25/c_125062433.htm

Briefings | | August 6, 2013 | Economy/Resources

People’s Daily: Thirty Provinces Released GDP Growth Rates Higher than the National Average

People’s Daily recently reported that all but one province (Qinghai Province) had released their official GDP growth rates for the first half of 2013. All of these 30 provinces recorded a growth rate higher than the national GDP growth rate of 7.6 percent. Most of the provinces suffered a slower rate than last year’s. Among the 30 provinces, Guangdong Province had the highest GDP level and Jiangsu Province and Shandong Province followed as the second and the third, respectively. These three provinces accounted for one third of the national GDP. The report suggested that, in addition to the possibility that numbers were forged, statistical calculation differences could have resulted in incorrect financial reports as well. Experts expressed the belief that, despite the questionable accuracy, the numbers still showed a clear slowdown in the Chinese economy; nor has there been any sign of a rebound occurring anytime soon. It is important to promote structural reform and to encourage consumer spending and private sector investments.

Source: People’s Daily, July 29, 2013

http://politics.people.com.cn/n/2013/0729/c1001-22355973.html

Briefings | | August 6, 2013 | Government/Politics

Qiushi: Internet Should Not Be a New Tool for U.S. Hegemony

Qiushi Journal, a bi-weekly magazine published by the Central Committee of the Chinese Communist Party, recently published an article commenting on “Prism Gate.” The article focused on how the United States has been maintaining a “double standard” on the matter of Internet monitoring. The author accused the United States of lecturing other countries on privacy and human rights issues while violating all these principles itself. The article quoted comments from various U.S. allies such as Britain, Germany, and France, as well as other countries like Brazil. These comments all used words like “shocking” and “unacceptable” to describe the reactions from these countries. The article suggested that the Prism project is only the tip of the iceberg. The U.S. government has at least three more projects of this kind to cover areas such as phone communications. The author also expressed the belief that the U.S. has the same mentality in the global financial market and in industrial internationalization, as well as in technology standards. The article concluded by calling for “fair international internet rules,” “respecting a country’s Internet sovereignty,” and the U.S. giving up technical control over the Internet.

Source: Qiushi Journal, August 1, 2013

http://www.qstheory.cn/zxdk/2013/201315/201307/t20130729_253893.htm

Briefings | | August 6, 2013 | US-China Relations

Over 60 Percent of Ocean Sewage Outlets Exceed Limit

The National Oceanic Administration recently conducted inspections of 137 ocean sewage outlets. The inspection revealed that 86 or 62.8 percent of them had pollution levels that exceeded the ocean sewage standard. The concentrations of inorganic nitrogen, activated phosphate, and petroleum were higher than the standard. Tianjin ranked the highest with 85.7 percent of the total outlets failing the inspection; the next was Shandong Province at 73.6 percent. The percentages for Fujian, Liaoning, and Hebei were 60.9 percent, 50 percent and 40 percent respectively.

Source: Guangming Daily, August 4, 2013
http://politics.gmw.cn/2013-08/04/content_8499755.htm

Briefings | | August 5, 2013 | Economy/Resources

Notice Issued to Stop Constructing New Government Office Buildings

At the end of July, the General Office of the State Council issued a notice prohibiting all levels of government from constructing new office buildings, regardless of any justifications or reasons they might have. It requested that the projects that have been approved but have not started construction should stop. The notice also required that the Party cadres evacuate and return the office space that is over the standard. The notice is the 11th one the central administration has issued since 1988 on restricting the construction of excess office space and the third notice since March 2013 under the new administration. However none of them have been strictly enforced.

According to the auditing results that Zhejiang Province disclosed, in the first half of 2009, out of ten provincial government units audited, six had failed the audit. The highest average space per person was 220.2 square meters (2,370 square feet). On April 20, 2012, the National Audit Office’s audit results disclosed that, of the new government offices built in 2011 in Shan Tai County of Sichuan Province, 10 offices on the seventh floor had private bathrooms. The largest space was 66 square meters (710 square feet), exceeding the standard set for county level officials by 6.3 times.

Source: Xinhua, August 4, 2013
http://news.xinhuanet.com/politics/2013-08/04/c_116800252.htm

Briefings | | August 5, 2013 | Government/Politics

China’s Research and Development Funds Misused

On August 1, 2013, People’s Daily reprinted a report from Guangdong Yangcheng Evening News (Yangcheng Wanbao) stating that a major share of the nation’s R&D funds is used for conferences and travel.

At a press conference, Wang Dong, Deputy Mayor of Guangzhou, reported, “Of all national scientific and technology research and development funds, only about 40 percent is truly spent on R&D. The remaining 60 percent is spent on conferences, travel, and other matters.”

The remarks were made in response to earlier reports. Guangzhou officials in charge of R&D had been investigated due to corruption charges. Wang responded, “So many incidents have occurred in this field. It must have something to do with our system.” Wang stated that governments at all levels in China have spent large amounts of funds on R&D. As most Chinese enterprises do not conduct independent R&D, there is an urgent need for reform to assure that the R&D funds are used effectively.

Source: Guangdong Yangcheng Evening News (Yangcheng Wanbao) reprinted by People’s Daily, August 1, 2013 http://politics.people.com.cn/n/2013/0801/c1001-22414743.html

Briefings | | August 2, 2013 | Government/Politics

Military Expert: A U.S. Aircraft Carrier Can Definitely Be Sunk in an Attack

Military expert Yin Zhuo was recently interviewed on Beijing TV’s "Military Decode" program. Yin commented that U.S. media had recently published an article stating that China’s aircraft carrier lacked battle group defense capability and that China seriously lacks a carrier-borne aircraft fleet and a protective fleet, which will leave it vulnerable when facing U.S. troops.

In response, Yin said, “The American media are completely lacking in objectivity in bad-mouthing China’s aircraft carrier. The U.S. aircraft carrier is not perfect either. It is entirely possible to sink it. Aircraft carriers fear nuclear submarines the most. China does not lack nuclear submarines. In addition, it also fears attacks from shore-based aircraft. Whether it is the East China Sea, the Taiwan Strait, or the South China Sea, all of them are within reach of our shore-based aircraft and within the scope of a joint attack.”

“In addition, no one said that we developed an aircraft carrier in order to deal with the U.S. From a strategic perspective, we would not directly confront the U.S. aircraft carrier Nimitz. … We still have a lot of other opponents beside the U.S. For example, when China is solving problems in the East China Sea or the South China Sea, that is when the carrier’s strengths can be played out.”

Source: People’s Daily, August 1, 2013

http://military.people.com.cn/n/2013/0801/c1011-22409788.html

Briefings | | August 2, 2013 | US-China Relations

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.