Skip to content

People’s Daily: Noda’s Government Can No Longer Resolve the Diaoyu Islands Crisis

People’s Daily published an article on its website analyzing the Japanese media’s reaction to China’s handling of the latest Diaoyu Islands dispute. The article observed that China’s four state-owned commercial banks refused to attend the annual meeting of the International Monetary Fund (IMF) and the World Bank held in Tokyo, Japan on October 9, 2012. This has made the Japanese media extremely worried.
 

On October 9, Chinese fishing boats and ocean surveillance ships appeared again in the Diaoyu Islands’ waters. The Japanese media seemed to have nothing else to talk about except for the "Chinese government ships cruising the Diaoyu Islands" for nine consecutive days. 
Chinese scholars believe that, after the Democratic Party of Japan came to power, they crossed the “not-to-touch” bottom line that both sides, Japan and China, had set on the Diaoyu Islands issue and have made it so the "mutual trust" no longer exists. In the "Diaoyu Islands collision incident in September 2010, the Japanese side arrested Chinese captain Zhan Qixiong and handled the incident using Japanese domestic law; then again last month, Japan nationalized the Diaoyu Islands according to Japanese law. "Today, China no longer trusts Noda’s government; we expect that the next Japanese government will be able to deal more flexibly with the Diaoyu Islands issue." 
Source: People’s Daily, October 10, 2012 
http://world.people.com.cn/n/2012/1010/c1002-19221920.html

People’s Daily on the Party’s Leadership in Managing Talent

On October 9, 2012, People’s Daily published an article titled “Improve the Party’s Leadership in Managing Talent; Gather Talent for the Cause of the Party and the Nation’s Development.” It also explained a previous article, “Opinions on Further Strengthening the Party’s Leadership over Talent,” which the General Office of the CCP Central Committee published on September 26, 2012.

According to the articles, the Chinese Communist Party’s leadership over talent is an important principle in talent management work.

Source: People’s Daily, October 9, 2012
http://politics.people.com.cn/n/2012/1009/c1001-19198266.html

RFA: Chinese People Are Following the U.S. Presidential TV Debates

On October 5, 2012, Radio Free Asia published an article on news in China about the first U.S. Presidential debate. Since the Thursday before the debate, 400,000 news reports about the U.S. presidential election have appeared on mainland China’s social media. Some netizens have opened “U.S. Presidential Election” microblogs, collecting all of the articles about the election. Sina’s official microblog also opened “Micro Topic,” allowing people to discuss the U.S. presidential election.

Many netizens’ messages show how an atmosphere in which ordinary people in a democratic country participate in general elections has an effect on the people in China. They are having new thoughts about democracy. “Only by achieving democracy in the political process can the administration of government be open and transparent.”

Source: Radio Free Asia, October 5, 2012
http://www.rfa.org/mandarin/yataibaodao/sy-10052012111750.html

Huanqiu Editorial: The U.S. Must Suffer Retaliation for Creating Trouble for China’s Companies

On Oct. 10, 2012, Huanqiu (the Chinese edition of Global Times) published an editorial titled, “The U.S. Must Be Subjected to Retaliation for Creating Trouble for Chinese Companies.” U.S. lawmakers are seeking to block Huawei and ZTE, China’s top network equipment makers, from doing business in the U.S. because of national security reasons.

The Huanqiu editorial asserted, “China needs to be serious about protecting its own enterprises. It should have the courage and the willingness to use state power to retaliate against those countries that make trouble for China’s enterprises. China must take action to let the United States and Europe understand that, if Chinese enterprises encounter trouble in their countries, their companies in China will then become scapegoats. Now is the time for China to show its determination to the United States and Europe.”

Source: Huanqiu, October 10, 2012
http://opinion.huanqiu.com/1152/2012-10/3172166.html

CRN: Dropping U.S Bond Prices Causes Inflation Concerns

China Review News (CRN) recently reported that U.S. 10-year and 30-year bond prices are dropping. The price drop occurred just at the time when the Federal Reserve announced its QE3 policies, which caused a lot of concern about inflation. The Federal Reserve is scheduled to release its September meeting minutes. The difference between the yields of the inflation-indexed bonds and the regular 10-year bonds is commonly used to measure expected consumer prices. That difference is 2.48 percent, which is higher than the same number collected at the end of last year (1.95 percent). Some experts expressed the belief that the U.S. economy may slow a little bit but won’t fall. The Federal Reserve is to ensure growth and it should monitor inflation. However this may weaken the demand for long term bonds.
Source: China Review News, October 5, 2012
http://www.zhgpl.com/doc/1022/5/8/1/102258102.html?coluid=148&kindid=7551&docid=102258102&mdate=1005174237

Xinhua: Holiday Economy Can Be Strategic for Domestic Consumer Spending

Xinhua reported that the recent Mid-Autumn Holidays delivered an unexpected test result on the newly implemented no-fee freeway policy for vehicles with seven seats or less. Stimulated by this new policy, a large number of car owners took the opportunity to travel. As a result, surprisingly strong consumer spending took place at tourist attractions during China’s Golden Week. The holiday, which started on National Day on October 1, commemorates the anniversary of the founding of the PRC on October 1, 1949. National statistics showed that 119 famous tourist attractions reported an average sales increase of 19.47 percent as compared to the same period last year. Freeway traffic volume in Beijing, Shanghai, and Nanjing increased 30 percent to 70 percent. The number of domestic tourists was estimated to reach 345 million for the holiday week alone. However, the extremely high traffic volume in some areas caused major congestion, which also made news. Economists took notes and are studying the value of this phenomenon as a strategic base for stimulating domestic consumer spending so as to give a boost to the falling economy.
Source: Xinhua, October 7, 2012
http://news.xinhuanet.com/fortune/2012-10/07/c_113289037.htm

Global Times: Large Japanese Insurance Companies Stopped Offering Strike Policies in China

Global Times recently reported that all large Japanese insurance companies have temporarily stopped offering strike policies to Japanese investors in China. It is widely believed that Japanese investments in China will face much higher risks if the lack of strike insurance continues. Ongoing tension in recent Japan-China relations has resulted in a large number of strikes against Japanese owned companies in China. The Japanese insurers are carefully monitoring the situation and will make decisions about business offerings based on the future developments of the anti-Japan movement in China. Most of the Japanese owned companies in China have an SRCC (Strike, Riot or Civil Commotion) clause in their insurance policies in regards to strike coverage.
Source: Global Times, October 7, 2012
http://finance.huanqiu.com/view/2012-10/3167489.html

BBC: Sea Of People Flooded Tourist Sites during China’s Golden Week

China’s Golden Week started on National Day on October 1, commemorating the anniversary of the founding of the PRC on October 1, 1949. Tourists overwhelmingly flooded most of the tourist sites in China. The convergence of visitors at many popular sites resulted in large numbers of tourists being trapped on the road without any access to hotels, food, or rest rooms.

The BBC Chinese website carried a list of comments from the Sina microblog site, which described the scenes involving the explosion of tourists at many tourist sites: A sea of people, slow traffic on highways, piles of trash left behind, and long lines waiting at entrance sites, bathrooms, and restaurants. People who took the trip complained that they felt tired, irritated, and regretful.

Source: BBC, October 4, 2012
http://www.bbc.co.uk/zhongwen/simp/chinese_news/2012/10/121004_china_weibo_crowded_holiday.shtml