Chinascope – Page 841

Scholar: Challenges to China’s Economic and Social Transformation

On July 8, 2013, Chi Fulin, President of the China Institute for Reform and Development in Hainan Province wrote a commentary for China Business News entitled, “The Challenges and Trends in China’s Economic and Social Transformation.”

Chi stated that it was his understanding that the new Chinese government has established the goal of doubling China’s per capita GDP and per capita income by 2020. “Currently, both the international environment and the China’s domestic economic and social transformation are right in the middle of complicated, profound changes. Three key elements will determine whether or not China can achieve this goal. The first is whether China can objectively handle the challenges it faces; second is whether China can seize the opportunities available to it; and third, the key is whether China is able to speed up transformation and reform.”

Chi identified three challenges to social transformation: (1) the gap between rich and poor is quite conspicuous; (2) the social structure is irrational. So far, according to the National Bureau of Statistics, China’s middle-income groups account for about 23 percent [of the population]; and (3) as a result, social conflicts and social risks continue to increase.”

Source: China Business News reprinted by Finance (Jingrongjie), July 8, 2013
http://opinion.jrj.com.cn/2013/07/08072415493871.shtml

Briefings | | July 11, 2013 | Economy/Resources

China Review News: How to Avoid Indigestion of the State Council’s Financial Guidance

On July 9, 2013, China Review News published an article discussing how to ensure the actual application of “The State Council’s Guide on the Financial Support for Economic Restructuring, Transformation, and Upgrading.” According to the article, in order to avoid “indigestion" when implementing "this good policy," relevant government agencies must develop concrete operational measures and approaches for implementating the “guide.” Meanwhile, they should establish strict reward and punishment measures to ensure the implementation of the “State’s 10 Policies” (the 10 items listed in the guide).

Source: China Review News, July 9, 2013
http://www.zhgpl.com/doc/1026/1/9/7/102619738.html?coluid=53&kindid=0&docid=102619738&mdate=0709063526

Briefings | | July 10, 2013 | Government/Politics

PRC State Council Encourages More Private Capital to Enter China’s Financial Sectors

On July 5, 2013, the website of the Central People’s Government of the People’s Republic of China released a document titled, “The State Council’s Guide on Financial Support for Economic Restructuring, Transformation, and Upgrading.” The document lists ten items designed to help guide the “effective prevention and dissolution of financial risks” in China. In the ninth item of the guide, the State Council gives a green light to the establishment of private banks funded by private capital under the leadership of the China Banking Regulatory Commission. However, private banks or other private financial institutions must face their own risks.

Source:
The website of the Central People’s Government of the People’s Republic of China & Xinhua, July 5, 2013
http://www.gov.cn/zwgk/2013-07/05/content_2440894.htm
http://news.xinhuanet.com/fortune/2013-07/05/c_124964540.htm

Briefings | | July 10, 2013 | Government/Politics

Xinhua: Five Key Points of the China-Russia Military Exercises

Xinhua recently reported that the China-Russia joint naval military exercises had five important focal points: (1) The large scale included surface ships, submarines, helicopters, fixed-wing aircraft, and Marine Special Forces units; (2) Both sides sent flagship level warships; (3) The scope of the exercises was wide and practical. They therefore enjoyed deep mutual trust and covered joint anti-submarine, anti-aircraft, and anti-ship exercises, as well as joint civilian escort missions; (4) The operational integration level, from planning to commanding, was high; (5) They emphasized real-life combat exercises and cooperation with the air force. The China-Russia “Joint Maritime 2013 Exercises” started on July 5 in the Japanese Sea. A total of 19 warships and 8 aircraft participated in the exercises. This was the first time a Chinese Naval fleet participated in international exercises with no direct logistic support from China.

Source: Xinhua, July 5, 2013

http://news.xinhuanet.com/mil/2013-07/05/c_116424731.htm

Briefings | | July 9, 2013 | Geo-Strategic Trend

People’s Daily: U.S. Missile Intercept Test Failed Again

On July 7, People’s Daily reported in its Top News section that a U.S. land based missile intercept test suffered yet another total failure in the pacific region. The report was based on the July 5th announcement made by the U.S. Department of Defense that a missile launched from the California Vandenberg Air Force Base failed to intercept a long-range missile from the Ronald Reagan Air Force Base in the Pacific. The announcement did not mention the reason of the failure. This was the third consecutive failure of the same intercept system. According to People’s Daily, the U.S. Military has conducted a total of sixteen missile intercept tests in the past. It has only eight successes on its record. The last successful intercept test occurred in the year 2008.

Source: People’s Daily, July 7, 2013

http://military.people.com.cn/n/2013/0707/c1011-22104719.html

Briefings | | July 9, 2013 | Defense/Military

HSBC Chinese June PMI Number Released

China News recently reported that, on July 1, HSBC released the June PMI (Purchasing Managers Index) number for the Chinese manufacturing industry. The June number was 48.2, which is lower than the previous month’s 49.2. This latest PMI number marked a nine month low and indicates that the Chinese manufacturing sector is still on a decline. The new low is directly related to the widespread decrease in customer demand. Both new orders and new exports are shrinking in volume, representing the largest slide since last September. The level of the labor workload in manufacturing companies is declining as well. This is the heaviest decrease since last August. The manufacturing sector inventory level has also dropped for the fifth month. Meanwhile investments and prices are all falling. Qu Hongbin, HSBC Chief Economist for the China Region, commented that the HSBC PMI number demonstrated that the Chinese manufacturing sector is showing signs of shouldering heavy pressure on the demand side while small and medium sized companies are seeing a deterioration of financing conditions. PMI is an indicator of financial activity reflecting purchasing managers’ acquisition of goods and services. A PMI number below 50 typically reflects a decline.

Source: China News, July 2, 2013

http://finance.chinanews.com/cj/2013/07-02/4993914.shtml

Briefings | | July 9, 2013 | Economy/Resources

Decline in Teen Physical Fitness a Major Concern in China

According to an article in China Review News, Chinese teenager’s physical health continues to decline. A research study showed that, from 2005 to 2009, the measure of power, speed and endurance, and instantaneous reactions among teenage students had gotten worse. A lack of physical exercise was cited as the major contributor. According to the article, middle school students spent an average of 11 hours a day at school including travel time, plus an additional two hours on homework or reviews. The study showed that only 9.34 percent of middle school students and 14.89 percent of high school students participate in after school sports activities in China compared to 57.39 percent, which is the average rate for Japan, the U.S., England, Australia, and Singapore.

Source: China Review News, July 6, 2013
http://www.chinanews.com/edu/2013/07-06/5010696.shtml

Briefings | | July 8, 2013 | Information/Technology

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.