Chinascope – Page 915

BBC: China’s Economy Affects the Hurun Rich List

The Hurun Research Institute published China’s 1,000 Rich List for 2012. The shift in China’s economy has affected the list in that the super rich candidates from China showed a net decrease in assets.

In 2012, although 43 out of the top 100 candidates were from the real estate business, for the first time, the number of those who came from the manufacturing sector surpassed those in the real estate sector. Meanwhile, the threshold that delineated the top 1,000 was 1.8 billion yuan, down from 2 billion yuan the previous year. Of these, the number of candidates who held over 10 billion in asset totaled 120, down by seven from the prior year. Of the 1,000 candidates, the net assets of 469 of them decreased, with 37 of them showing a rate of decrease that was 50 percent or more. The professions that were most affected were in the solar energy, clothing, and retail sectors.

The list also showed that 157 or 15.3 percent of the candidates held political titles, including members of the National People’s Congress or the National Committee. Beijing is the city that had the most rich people, with Shanghai in second place and Shen Zheng in third place.

Source: BBC Chinese, September 25, 2012
http://www.bbc.co.uk/zhongwen/simp/chinese_news/2012/09/120925_china_richlist.shtml

Briefings | | October 4, 2012 | Economy/Resources

Qiushi: Adhere to and Develop Socialism with Chinese Characteristics

On October 1, 2012, Qiushi, a journal of the Central Committee of the Chinese Communist Party, published an article titled, “Adhere to and Develop Socialism with Chinese Characteristics – Unswervingly Walk on the Right Path That the Party and the People Opened up in their Long-term Practice.” Using the economic growth over the past 30 years as evidence, the article said that the only correct path to achieve national prosperity and the people’s happiness and well-being is the path of socialism with Chinese characteristics.

The article summarized Mao Zedong, Deng Xiaoping, Jiang Zemin, and Hu Jintao’s “achievements” in terms of the development of socialism. “It is the choice of history, the choice of the people, and the choice of the times for China to take the road of socialism with Chinese characteristics.”

Source: Qiushi, October 1, 2012
http://www.qstheory.cn/zxdk/2012/201219/201209/t20120927_183958.htm

Briefings | | October 3, 2012 | Government/Politics

Military Professor: Corruption is the #1 Enemy of the People’s Liberation Army

On October 2, 2012, BBC Chinese published an article titled “Military Professor: Corruption is the #1 Enemy of the People’s Liberation Army (PLA).” Professor Liu Mingfu of China’s National Defense University of the PLA, recently published his new book called “Why the PLA Will Win.” In the book, Liu pointed out, “The most dangerous and the #1 enemy of the PLA is corruption.” He said, “The anti-corruption forces are not as powerful as the forces of corruption. Those who are engaged in corruption have more energy than those who are against corruption. The corrupt officials have a greater chance of getting promoted.”

Source: BBC Chinese, October 2, 2012
http://www.bbc.co.uk/zhongwen/simp/chinese_news/2012/10/121002_china_army_corruption.shtml

Briefings | | October 3, 2012 | Defense/Military

Xinhua: Syria Accuses U.S. and Its Allies of Backing Terrorism

On October 2, 2012, Xinhua published an article titled “Syria Accuses the U.S. and Its Allies of Backing Terrorism.” According to the article, Walid Al-Moualem, the deputy prime minister and foreign minister of Syria, accused the United States, France, and their allies of clearly "using money, weapons, and foreign fighters to induce and support terrorism in Syria." Walid Al-Moualem made this statement on Monday, October 1, 2012, at the general debate during the 67th session of the UN General Assembly.

Walid Al-Moualem said, "Instead of seeking to contribute to the settlement of regional and international disputes by peaceful means, some well-known countries continue to deal with those crises by pursuing new colonial policies, based on political hypocrisy."

Source: Xinhua, October 2, 2012
http://news.xinhuanet.com/2012-10/02/c_123784213.htm

New layer…

Briefings | | October 3, 2012 | US-China Relations

Xinhua: HSBC Released China’s Manufacturing PMI for September

Xinhua reported in Hong Kong that HSBC released the latest PMI (Purchasing Managers Index) number for China’s manufacturing industry. The September PMI reached 47.9. This indicates that China has had a month-by-month manufacturing decline for 11 months in a row. The Manufacturing Output Index showed a 10-month low of 47.3. The New Export Orders Index dropped to 44.9, which meant a further decline from August’s figure. The inventory Index reached a 5-month low, which reflected the continuation of the inventory clean-up process. These numbers demonstrated a consistent decline in manufacturing activities. With the biggest decline of new orders in 42 months, the inventory level naturally dropped. HSBC’s Chief Economist of the Chinese Economy expected higher pressure from quantitative easing for the Chinese central government. PMI is an indicator of financial activity reflecting the purchasing managers’ acquisition of goods and services. A PMI number below 50 typically reflects a decline.

Source: Xinhua, September 29, 2012

http://news.xinhuanet.com/gangao/2012-09/29/c_113258732.htm

Briefings | | October 2, 2012 | Economy/Resources

China Launched a Second Satellite for Venezuela

On September 29, 2012, China News reported that China just successfully launched a second satellite for Venezuela, named VRSS-1. The satellite was delivered by the Long March II-4 rocket. The VRSS-1 is a remote sensing satellite with a design based on the Chinese CAST2000 satellite platform developed by China Aerospace Science and Technology Corporation. The satellite was actually manufactured by China Great Wall Industry Group Co., Ltd. In the year 2008, China successfully launched a communications satellite for Venezuela as well. This new launch is the 168th mission for the Long March rocket program.

Source: China News, September 29, 2012

http://www.chinanews.com/gn/2012/09-29/4223249.shtml

Briefings | | October 2, 2012 | Geo-Strategic Trend

CRN: China May Suffer Low Quality Growth

China Review News (CRN) recently published a commentary on the decline in the quality of China’s economic growth. In the year 1980, an investment of RMB 1 yuan could result in RMB 4.1 yuan worth of return in GDP. However in year 2011, an RMB 1 yuan investment brought only RMB 1.8 yuan worth of GDP return. China’s model of high government investment in economic growth results in a weakness in the promotion of quality domestic consumption. The lowered quality is reflected in the inability to match supply with the decreased international demand. Meanwhile, China’s government run financial market suffers from very low efficiency in capital utilization. The private sector has much higher productivity but cannot access sufficient credit to obtain loans. The situation is made even worse when higher inflation and asset bubbles are added to the mix. The commentator called for tax cuts, breaking up monopolies, and improving financial support to the private sector.

Source: China Review News, September 25, 2012

http://www.zhgpl.com/doc/1022/4/6/3/102246367.html?coluid=53&kindid=0&docid=102246367&mdate=0925065247

Briefings | | October 2, 2012 | Economy/Resources

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.