Xinhua: China’s Global Strategy
November Year to Date Profit for State Owned Enterprises Down 7 Percent
According to data released by the Ministry of Finance on December 14, 2012, November year to date profit for State Owned Enterprises was 1.94 trillion yuan (US$310 billion), down seven percent compared to the same period last year.
The revenue for November year to date was 37.94 trillion yuan (USD$6.08 trillion), up 10.9 percent from the same period in 2011 and 11.8 percent from October. The industries that showed the largest increase in profit included electric power, tobacco, electronics, light industry, and the auto industry. The industries that showed the sharpest decrease in profits include the chemical industry, nonferrous metals, transportation, construction material, and mechanical areas.
Source: Xinhua, December 15, 2012
http://news.xinhuanet.com/fortune/2012-12/15/c_114034861.htm
China Holds Central Economic Work Conference
China will hold a Central Economic Work Conference on December 15 and 16, 2012, to determine the direction for its economic policies in the upcoming year.
Many policy experts believe that the target for economic growth will remain at 7.5 percent with a focus on maintaining stability while improving quality and productivity. It is expected that the urbanization of rural areas will drive economic growth in the mid to long term. There will also be personnel shifts at the upper management level in the Central Bank, the Ministry of Finance, the Ministry of Commerce, and the National Development and Reform Commission, as well as in some entities dealing with financial regulation.
Source: Huanqiu, December 13, 2012
http://china.huanqiu.com/politics/2012-12/3374586.html
Xinhua Commentary: China Has Made Significant Improvements in Human Rights
On December 12, 2012, the Chinese Society for Human Rights Studies and the China Foundation for Human Rights Development co-hosted the fifth Beijing Forum on Human Rights. On December 13, Xinhua published a commentary and stated that the forum “has had a significant impact in urging exchange and collaboration of the international community in promoting human rights; it also demonstrated the progress China has made in this area.”
As to the criticism that China has received from foreign media and from some Chinese people about its human rights record, the commentary stated that some are constructive while more are “one-sided and lack fairness.” The commentary also noted that China’s human rights are not perfect, just like the U.S., the human rights preacher, whose record is often criticized. The commentary further asserted that China should be recognized for the significant improvements it has made on human rights issues.
Source: Xinhua, December 13, 2012
http://news.xinhuanet.com/comments/2012-12/13/c_114017998.htm
Xinhua: The U.S. Senate Complicates the Diaoyu Islands Issue to Deter China
Military Expert: PLA Submarine’s Performance Nearing that of Western Countries’
Naval expert Li Jie was invited to be a guest expert at the People’s Daily Military Forum. At the Forum, Li discussed the Chinese PLA’s development of submarines. Li Jie said, “The functionality and performance of China’s self-designed submarines are close to those made by the United States, Russia, Germany, and Japan. Only the propelling plant, noise, and some other factors still have some minor gaps as compared with the advanced countries.”
China Ranks No. 1 in Asia in Arms Exports
Huanqiu reported that, according to the website of a Russian think tank, China is now a leading world exporter of certain munitions. Based on the 2004 to 2011 statistics of the Russian think tank, China ranks 10th in the world and 1st in Asia in arms exports. With a total value of $8.73 billion, China’s arms exports surpass that of all other Asian Pacific countries combined. It exports 51.65% of the total value of all arms in the Asian Pacific region.
Source: Huanqiu, December 11, 2012
http://mil.huanqiu.com/observation/2012-12/3366012.html