Chinascope – Page 943

The People’s Liberation Army Admits that Its Greatest Enemy Is Corruption

One June 12, 2012, PLA Daily published an article titled “Maintain the Purity of the Army’s Party Organizations and Cadre Teams.” On the same day, many major websites in Mainland China reprinted the article with a different title: “The People’s Liberation Army Admits that Its Greatest Enemy Is Corruption, Seriously Affecting Combat Effectiveness.”

"The Party’s purity is in opposition to all corruption. We must resolutely punish corrupt behavior; this is the inevitable demand for maintaining the Party’s purity. Both history and reality demonstrate that corruption is the biggest corrosive toxin on the army’s pure skin; it is the biggest factor that affects the cohesion and combat effectiveness of the troops.”

Source: PLA Daily, June 12, 2012
http://www.chinamil.com.cn/jfjbmap/content/2012-06/12/content_7555.htm

Briefings | | June 13, 2012 | Defense/Military

HSBC PMI for China’s Manufacturing Sector Continues to Decline

CNForex recently reported that HSBC reported the official May PMI (Purchasing Managers Index) number for the Chinese manufacturing sector to be 48.4. The index has remained under 50.0 for 7 consecutive months, which indicates that the manufacturing sector has been shrinking. It is believed that the PMI number reflects that the current economy is suffering from weak domestic and international demand, causing manufacturing companies to have a reduced output. Statistics show that, in May, these companies employed the lowest number of laborers in the last 3 year. The unemployment rate in this sector is increasing. Also in May, inventory declined and product prices dropped. PMI is an indicator of financial activity; it reflects purchasing managers’ acquisition of goods and services. A PMI number below 50 typically is an indication of decline.

Source: CNForex, June 1, 2012
http://www.cnforex.com/news/html/2012/6/1/f28feb312993372e1fe7438418ded68d.html

Briefings | | June 12, 2012 | Economy/Resources

CRN: Romney’s Anti-China Comments Cause Worries

China Review News (CRN) recently published a review of an article form the Financial Times that discussed U.S. presidential candidate Mitt Romney’s position on US-China relations. Romney’s team recently suggested that the United States “won’t lose anything” if it goes against China and there is nothing to worry about in terms of a trade war. Romney is taking a tough position against China and has been calling China a country that manipulates the currency exchange rate. His position is considered much less soft than that of the former Republican president George W. Bush. Though Romney’s China policies cause worries even among the Republicans, it seems Romney’s team is making them a core part of the campaign image that is designed to differentiate him from the White House. However some Democrats believe that this is just an election year show because Romney’s China position is against the free-market philosophy that he has also been promoting.

Source: China Review News, June 6, 2012
http://www.zhgpl.com/doc/1021/3/2/7/102132722_2.html?coluid=59&kindid=0&docid=102132722&mdate=0606144244

Briefings | | June 12, 2012 | US-China Relations

Xinhua: Reader’s Digest Closed Down in China

Xinhua reported that, on May 28, 2012, Reader’s Digest closed down its operations in China. The news resulted in widespread discussion among senior Chinese media workers. Reader’s Digest started its international Chinese edition in the year 1965. The simplified Chinese edition was officially published in China in 2008. The Xinhua reporter actually contacted the U.S. headquarters of Reader’s Digest to confirm the closure. He received confirmation that the paper edition did cease distribution. No detailed reason was officially provided. The reporter was told that the Chinese market represented only a very small portion of the total operation of the magazine. A digital version is possible in the future. Reader’s Digest suffered a long period during which it fought for for its copyright and trademark rights in China. In recent years, many foreign magazines, such as Scientific American, have given up on the Chinese market, .

Source: Xinhua, June 9, 2012
http://big5.xinhuanet.com/gate/big5/www.js.xinhuanet.com/xin_wen_zhong_xin/2012-06/09/content_25369623.htm

Briefings | | June 12, 2012 | Information/Technology

Shenzhou 9 Spacecraft to Complete China’s First Rendezvous Operation

According to the spokesperson for China Manned Space Engineering, Shenzhou 9 and the carrier rocket Changzheng 2F (Long March-2F) are entering the final stage in preparation for the first rocket rendezvous operation in China’s history. Shenzhou 9 is making its way to the launch site in Jiuquan, Inner-Mongolia, and is timed to launch in mid-June for a rendezvous operation at the space docking channel with Tiangong-1, China’s first space laboratory module, which is currently orbiting earth.

Source: China News Review, June 9, 2012
http://www.chinanews.com/gn/2012/06-09/3950980.shtml

Briefings | | June 11, 2012 | Information/Technology

Ministry of Finance to Issue Local Government Bonds

The Ministry of Finance announced that it plans, for the first time, to issue 41.6 billion yuan in local government bonds for the following seven regions: Qingdao, Guangxi, Chongqing, Shanxi, Gansu, Hainan, and Xinjiang. The bonds are for either a three year or five year term. The three year bonds are valued at 20.6 billion yuan and the five year bonds are valued at 21 billion yuan. Shanxi has the largest share totaling 8.5 billion yuan while Qingdao has lowest share totaling 1.5 billion yuan.

The on sale date for the three year bonds is June 15, 2012, while the five year bonds will be sold on June 29, 2012.

Source: People’s Daily, June 8, 2012
http://finance.people.com.cn/GB/153179/153522/18124989.html

Briefings | | June 11, 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.