Chinascope – Page 944

The Volume of Real Estate Transactions in China Continues to Decline

According to the Ministry of Statistics, from January through May of 2012, a total of 288 million square meters or 3.1 trillion square feet of real estate changed hands, a reduction of 12.4 percent from the same period last year; the rate of the decline decreased by 1 percent compared to January through April. The total sales volume was 1,693 billion yuan or US$266 billion, down 9.1 percent compared to the same period last year; the rate of decline decreased by 2.7 percent compared to January through April.

Of the total number of real estate transactions, residential housing space was down 13.5 percent, office space went up 3.6 percent, and commercial buildings fell 1.4 percent. The total sales volume for residential housing declined by 10.6 percent while the office space went down 8.7 percent, and commercial buildings rose 3.9 percent.

In terms of the total decline in real estate space, the eastern region was the highest at 14.1 percent. The central region was second at 10.2 percent and the western region was 11.1 percent.

By the end of May, 307 million square meters or 3.3 trillion square feet of real estate space remained unsold, up 4.32 million square meters or 46.5 million square feet from April. Of the unsold real estate, residential space went up by 2.7 million square meters or 29 million square feet, office space went up by 60,000 square meters or 645,600 square feet, and commercial buildings went up by 430,000 square meters or 4.62 million square feet.

Source: Xinhua, June 9, 2012
http://news.xinhuanet.com/house/2012-06/09/c_123258567.htm

Briefings | | June 11, 2012 | Economy/Resources

Wuhu City in Anhui Province Has 11 Deputy Mayors û an Unusually High Number

Wuhu City in Anhui Province is a prefectural level municipality in Anhui Province with a population of 3.8 million. Wuhu has 11 deputy mayors in its city government, far surpassing the average number of staff for a city of Wuhu’s size. After the unusually high number of deputy mayors in Wuhu was called into question, the Wuhu government changed its website information; it removed 3 deputy mayors from the list on the website. Even so, the reporter found that, about 10 days ago, 2 of them used their current title to participate in activities; they gave no indication that they no longer held the title of deputy mayor.

Professor Wang Yukai from the China National School of Administration (CNSA) told the reporter that 11 deputy mayors seems to be too many. Professor Wang said that it’s quite widespread for (local) governments to employ too many staff in the deputy position, particularly in the deputy secretary position. An example of this is that, two years ago, there were 9 deputy mayors and 20 deputy secretaries in Tieling City in Liaoning Province.

Source: Nanfang Daily, June 6, 2012
http://nf.nfdaily.cn/nfdsb/content/2012-06/06/content_47401559.htm

Briefings | | June 8, 2012 | Government/Politics

China Central Bank Lowers Interest Rates

The People’s Bank of China announced that it was lowering its interest rates by 0.25 percentage point, effective June 8, 2012. The one year deposit rate will drop from 3.5% to 3.25% and the one year lending rate will fall from 6.56% to 6.31%. This is the first time since December 23, 2008, that the central bank has lowered interest rates. At that time, the central bank lowered its interest rates by 0.27 percentage points.

Source: Xinhua, June 7, 2012
http://news.xinhuanet.com/fortune/2012-06/07/c_112152900.htm

Briefings | | June 8, 2012 | Economy/Resources

China Offers $10 billion Loan to SCO Members

On June 7, 2012, President Hu Jintao announced in Beijing that China will offer a loan of $10 billion to members of the Shanghai Cooperation Organisation (SCO) to promote economic development within the security group. Hu also said that China will help train 1,500 experts from other member countries over the next three years. It will also provide 30,000 government scholarships and invite 10,000 Confucius Institute teachers and students to come to China for research and study over the next decade.

The Beijing-based SCO was founded in Shanghai on June 15, 2001, and currently has six full members — China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. India, Pakistan, Iran and Mongolia have observer status in the SCO.

Source: Xinhua, June 7, 2012
http://news.xinhuanet.com/politics/2012-06/07/c_112143358.htm

Briefings | | June 7, 2012 | Geo-Strategic Trend

Politics and Law Commission Secretaries in Guangdong Province Have Less Power

According to Southern Metropolis Daily on June 4, 2012, in six big cities in Guangdong Province, deputy party secretaries concurrently serve as secretaries of the Politics and Law Commission. The Politics and Law Commission secretaries in 21 cities in Guangdong Province no longer serve as heads of Public Security Bureaus. Instead, in these 21 cities, vice mayors serve as heads of the Public Security Bureaus. Wang Yang is the Communist Party Secretary of Guangdong Province.

Source: Southern Metropolis Daily, June 4, 2012
http://nd.oeeee.com/nfhypd/hytopnews/201206/t20120604_1310175.shtml

Briefings | | June 7, 2012 | Government/Politics

PLA Major General Challenges the U.S. with Ten Questions

On June 5, 2012, at a press conference for the release of a report assessing the power of the U.S. military, PLA Major General Luo Yuan posed 10 questions to the United States. The China Strategy Culture Promotion Association, where Luo serves as its spokesperson and Deputy Executive Director, released the report.

The 10 questions are as follows:

Who has the largest and best-equipped military? Who has the world’s biggest military budget? Who has the largest inventory of nuclear weapons? Which country is involved in the most wars at present? Which country arranges the greatest number of combined military excises around the world? Who perceives China as its enemy? Who is the target of the U.S. strategic pivotal shift to the East? Who is the target of the air and sea combat strategy? Who is implementing or preparing to implement cyberspace warfare? Who is creating roadblocks in the Sino-U.S. military cooperation?

Luo concluded that the U.S. has the most powerful military with the largest budget and has a strong hostile state of mind towards China.

Source: Huanqiu, June 5, 2012
http://mil.huanqiu.com/paper/2012-06/2789073.html

Briefings | | June 7, 2012 | US-China Relations

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.