19th of April 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
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People's Daily
China puts brake on economic bullet train
Just as China lowered the speed of the Beijing-Shanghai high-speed train to ensure safety and affordability, the country is now trying to slow down its torrid economic expansion to ensure sustainability in the coming years.
The government's efforts can be seen in economic data from the first quarter of 2011, or the start of China's Twelfth Five-Year Plan. Its economy expanded 9.7 percent in the first quarter, tapering off slightly from the 9.8 percent growth posted in the fourth quarter of last year.
Sheng Laiyun, a spokesman from the National Bureau of Statistics, called the performance a sign of "steady growth" and "a good beginning."
China signs currency swap deal with New Zealand
The People's Bank of China (PBOC), the central bank, said Monday that it has signed a 25-billion-yuan ($3.83 billion) currency swap agreement with the Reserve Bank of New Zealand.
The agreement will last for three years and is extendable by mutual consent, according to the statement posted on the PBOC website.
The swap is aimed at promoting bilateral trade, investment and financial cooperation, it said.
Since the onset of the world financial crisis in late 2008, China has signed currency swap agreements with the Republic of Korea (ROK), Hong Kong, Malaysia, Belarus, Indonesia, Argentina, Iceland and Singapore.
Boeing's newest China plant to launch production in 2013
The China office of U.S. aircraft manufacturer Boeing said Monday that an expansion of its China venture in north China's port city of Tianjin will be operational in 2013.
The 21-million-U.S.-dollar project will double the size of Boeing Tianjin Composites Co. Ltd., a joint venture between Boeing and the China Aviation Industry Corp. which produces components and parts for the Boeing 737, 747, 767, 777 and the 787 Dreamliner aircraft.
Play the Middle East card subtly and deftly
By Li Hongmei
Just give it more than a passing thought, even when the Western powers successfully hawked their idea of democracy all by force in these "authoritarian countries", it would never be that these countries will be converted into new-made and rich democracies, for the simple reason that a "democratized" country built up in such a forced hurry cannot automatically turn out to be a "success state", in a similar vein, many so-called "democracies" can just be "failure states". Democracy goes hand-in-hand with risks, some of them uncontrollable.
With that said, China should involve "subtle power" in its Middle East diplomacy. If the notion of "smart power", an approach highly touted by US State Secretary Hillary Clinton, is generally defined as the combination of hard and soft powers, "subtle power", China's way of extending influence, can be described as the art to take advantage of the three elements - non-confrontation, non-interference and readiness for game change.
Democracy, freedom and human rights are cherished by any country and any people, but if mistakenly interpreted, they could become the contemporary superstition, so they must go with other values and in the light of specific conditions.
The established truth is that only by combining democracy with development, can the marriage produce a happy and healthy child. Therefore, the Western-style "hurry" to push their values into the Middle East will give birth to nothing but a monster.
Growing merits of yuan appreciation
By Li Hong
Two different schools of opinion-leaders are debating the speed of liberalizing China's currency exchange rates with major global currencies. One advocates "more haste, less speed", meaning any quickening of the process will destabilize the country's financial system and might lead to a crisis. The other believes the exchange-rate-system reform "should be expedited" and now, "the time for action has arrived".
But, within the broad safety frame of controllability, Beijing could choose to appreciate its currency more quickly – by a bigger magnitude if not one-off rises, to suit China's economic needs. I would list three merits of a more precipitous gain of the yuan.
First, China has faced strong headwinds of inflation ...
Some in China are worried about the worth of the country's colossal foreign exchange reserves ...
And, thirdly, gains in the yuan value make exports more difficult ...
See Kaixin's - YUAN REVALUATION & INTERNATIONALISATION
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China Tibet Online
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China Daily
Wages to double within five years: Ministry
China is striving to increase the average Chinese wages by 15 percent annually in a bid to achieve a two-fold increase in pay by the end of 2015, the Ministry of Human Resource and Social Security (MHRSS) said according to a report in the Jinghua Times Tuesday.
Yang Zhiming, vice minister of MHRSS, speaking during a national labor relation conference Monday, said 13 provinces have raised their minimum wage by an average of 22.8 percent, with more cities likely to see a pay raise within the year.
Despite measures, inflation could shoot past target
Hikes in reserve requirement ratio, interest rates not enough: Analyst
SHANGHAI - China's inflation this year will overshoot the government's target despite more expected tightening measures, Wang Tao, head of China Economic Research at UBS AG, said on Monday.
Expert says rush to build hydropower poses risks
NANJING - The largest obstacle China must overcome as it looks to build hydropower projects in its seismically active southwestern regions is the need to use technology that will reduce the danger posed by earthquakes and other disasters, a senior water conservation official said on Monday.
"Major water projects currently under construction or in the pipeline in the country's southwestern regions are among the largest in the world their capability to resist floods, earthquakes and other natural disasters has become an issue of increasing public concern," Hu Siyi, vice-minister of water resources, told a conference on Yangtze River protection.
To be safe, hydropower projects should include technologies designed for use in areas characterized by high altitudes, frozen ground and high frequencies of earthquakes, as well as technologies needed to repair dams after they are hit by natural disasters.
China has placed a priority on expanding its reliance on hydropower, both to meet citizens' increasing demands for energy and to respond to international pressures to reduce its emissions of greenhouse gases.
Housing prices dip in survey
Majority of cities monitored saw a fall in value or slower growth rate
BEIJING - Property prices in key cities grew slower in March, and some actually declined, as the government's measures to curb rampant real estate speculation and tightened monetary policies began to bite.
Of 70 large and medium cities surveyed more than half experienced a fall in property values or a slower rate of increase. Twelve cities witnessed month-on-month falls in property prices, compared with eight in the previous month. Eight cities saw no change while 29 cities experienced smaller rises in property prices than in February, the National Bureau of Statistics (NBS) said on Monday.
Prices of new homes in Beijing rose 4.9 percent in March from a year earlier, easing from a 6.8 percent gain in the previous month. In Shanghai prices jumped 1.7 percent last month, down from 2.3 percent in February, according to the NBS.
"The government's policies obviously reduced property sales in some first and second-tier cities. However, that does not mean that targets have been met," said Li Ming, chief executive officer of Sino-Ocean Land Holdings Ltd. "I think the government will launch more rigorous measures."
Sino-Ocean Land, like other property companies, plans to expand in smaller cities, according to Li.
F1 drives into pole position
Sport revs up interest as supporters and sponsors embrace the fast life, reports Lei Lei in Shanghai.
The Chinese Grand Prix, part of the Formula One World Championship, has been an annual feature at the Shanghai International Circuit for eight years, and Yin Yue has been there on each occasion since his hometown won the right to stage the race in 2004. On Sunday he wore a Ferrari-red costume and a red wig.
Witness of Tibet Photography Contest and Exhibit
2011 marks the 60th anniversary of the peaceful liberation of Tibet, and the magazine China's Tibet and Federation of Literary and Art Circles of Tibet Autonomous Region are jointly holding a "Witness of Tibet, 1950-2010" photography contest. In addition to prizes, all winning works will be exhibited in Beijing and Lhasa in May 2011.
See Kaixin's - CHINA & TIBET & Jambhala (Photographer)
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XinHua News
Chinese Premier meets Singapore's Senior Minister on bilateral ties
BEIJING, April 18 (Xinhua) -- Chinese Premier Wen Jiabao met with visiting Singapore's Senior Minister Goh Chok Tong on Monday on bilateral ties and further cooperation.
Wen said cooperation between China and Singapore has been fruitful in ecological environment, energy conservation and finance, adding that the two countries have also been actively implementing China-Singapore Free Trade Agreement and the China-ASEAN Free Trade Agreement.
He said the two sides should continue consolidating mutual trust and further bilateral ties from a strategic and long-term perspective, and make unrelenting efforts in promoting peace, stability and prosperity in East Asia.
Ruling parties of China, Ukraine sign cooperative agreement
BEIJING, April 18 (Xinhua) -- The Communist Party of China (CPC) and the Party of Regions of Ukraine signed an agreement on Monday to expand cooperation between the ruling parties of the two countries.
China, Iran to enhance parliamentary cooperation, exchanges
TEHRAN, April 18 (Xinhua) -- Senior Chinese legislator Chen Zhili met with vice speaker of Iranian Majlis (parliament) Seyed Shahabedin Sadr here on Monday, agreeing to boost parliamentary cooperation and exchanges.
Senior CPC official arrives in Nairobi to start visit to Kenya
NAIROBI, April 18 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Nairobi on Monday evening for an official goodwill visit to Kenya.
Vietnamese president meets China's chief justice
HANOI, April 18 (Xinhua) -- Vietnamese President Nguyen Minh Triet received here on Monday the visiting China's President of the Supreme People's Court Wang Shengjun.
Triet highly appreciated judicial cooperation between the two countries. The supreme courts of Vietnam and China should bolster exchange of experiences in building the socialist law-governed states, Triet said.
China to launch nationwide crackdown on illegal organ transplants
BEIJING -- China's Ministry of Health said on Monday that it would launch a nationwide campaign to crack down on illegal organ transplants following recent reports of such cases.
Most quake-damaged Tibetan monasteries in NW China to be restored this year
GYEGU, Qinghai, April 17 (Xinhua) -- Construction workers will in this year finish rebuilding 62 Tibetan monasteries damaged in last year's 7.1-magnitude earthquake that leveled the plateau county of Yushu in northwest China, a local government official said Sunday.
Main structures of the other 25 monasteries will also be completed by the end of 2011, as the reconstruction is in full swing, said Wang Yuhu, head of the prefecture government of Yushu, Qinghai Province.
Monks perform religious music during the launching ceremony of the reconstruction of the Changu Monastery in Yushu, northwest China's Qinghai Province, April 17, 2011. The four-year reconstruction project of the monastery, with total investment of more than 40 million RMB yuan (about 6.12 million U.S. dollars), was launched on Sunday. Changu Monastery was built some 700 years ago and destroyed in earthquake which struck Yushu on April 14, 2010
See Kaixin's - CHINA & TIBET
CCTV
Studio interview: How high can RRR go?
For more analysis into China's latest tripple R (Central Bank's Reserve Rate Ratio) hike, we are joined by Mr. Chen Jiahe, a strategy analyst with Cinda Securities.
Q1: How will this hike affect investment in China? Will it lead to large inflows of speculative or hot money?
Q2: Monetarily speaking, how high could the reserve ratio go? How much room does the central bank have in raising the rate, and will it help bring down inflation?
Electricity shortage hits East China
Eastern China is currently suffering from a new round of power shortages. Industry insiders say the shortage this time around could be more severe than the 2004 one. Experts believe rapid growth in excessive capacity industries is behind the shortage.
Dai Yan is the deputy director of the electricity dispatching center, at the State Grid's Zhejiang Branch.
He and his colleagues have been scrambling to buy enough electricity to meet demand since the beginning of this year.
Studio interview: What's driving the fall in property prices?
Well, for us ordinary people, that must be good news. Let's turn back to Ms Wang, from Founder Securities.
Q1: In your opinion, what are the main reasons behind the drop in property prices? What role do macro-control measures play in the process?
Chinese aviation celebrates 60th anniversary
China's aviation industry celebrates its 60th anniversary on Sunday. From humble beginnings, the country has gone from imitating foreign technology to being a world-leader in innovation.
This is the engine of China's C-919 passenger jet.
The 200-seat airliner will begin trial flights in 2014.
But the plane's engines are already the focus of worldwide attention.
Wang Zhilin, General Manager of Commercial Aircraft Corp. of China, said, "We plan to make key technic breakthroughs by 2016. The C-919 will make its commercial debut by 2020."
Studio interview: Factors behind recent development of China aviation
For a detailed review of Chinese aviation industry we're pleased to now be joined by Mr. Zhang Xinguo, Vice President of the China Aviation Industry Corporation.
Q1: China's aviation industry has been growing at a fast pace in recent years, which has attracted much international attention. What do you think are the factors behind this rapid development?
Q2: Back in the 1950s, the Chinese manufacturing industry had a slogan -- "Chao Ying Gan Mei" -- meaning to overtake the UK and the US. If we could now ask you to pick up a slogan to sum up China's aviation development now, what would it be? And why?
Jet profile: J-10 fighter aircraft
The State Post Bureau has released a set of commemorative stamps marking the 60th anniversary of the nation's aviation industry. The designer selected 3 aircraft thought to best represent the aviation development: the J-10 Fighter, the JH-7A Flying Leopard Bomber, and the AC313 Civilian Helicopter.
Vertical liftoff 20 years ago, no Chinese aircraft could take on such a challenge. Two decades later, this has become a routine maneuver for the J-10.
Song Wencong, Chief Designer of J-10 Fighter Aircraft, said, "Back in the 1970's, when the Chinese Air Force was still counting on second generation aircraft like the J-7, the US had already developed the F-16."
Chinese FM meets World Bank chief
During the IMF and World Bank spring meetings, Chinese Finance Minister Xie Xuren met World Bank president Robert Zoellick.
Their meeting covered a wide range of issues, including the global economic outlook, and development and internal reform of the World Bank.
The two acknowledge that bilateral cooperation has been very effective. Xie Xuren says China will enhance collaboration with the World Bank in loans in the fields of energy, infrastructure, agriculture and education.
Studio interview: Prospects of 6-party talks
For more analysis on US Secretary of State Hillary Clinton's visit to Asia, we are joined by our current affairs commentator, Professor Xie Tao, from Beijing Foreign Studies University. Hello Professor Xie.
Q1: The 6-party talks have been stalled for almost two years. Do you think Clinton's visit to South Korea will help push them forward?
Q2: Clinton's next stop will be Japan. It will be the first visit of a US senior official since the devastating earthquake and tsunami hit Japan last month. Do you think there are strategic aims behind the visit or is it mostly just to pay condolences and tribute to country?
Thank you indeed. Professor Xie Tao from Beijing Foreign Studies University.
Studio interview: Property market cools down in Beijing
For more discussion on the Beijing real estate market, we now turn to our Current Affairs Commentator, Professor Liu Baocheng, from the University of International Business and Economics. Welcome, Professor Liu ...
Q1: Housing prices in Beijing are beginning to drop. Do you believe the trend will be sustained in this quarter?
Q2: Most of the units sold in March, especially at lower prices, are located in the city's suburbs. How significant is this change?
Paulson: US has capacity to resolve budget deficit
Former US Treasury Secretary, Henry Paulson, is attending the Bo'ao Forum this year.
In a CCTV interview, he spoke about the US economic and financial situation, and said the most urgent task for the US right now is to cut the budget deficit.
Paulson believes the budget deficit issue is one that needs to be resolved as a nation. He's confident the US has the capacity to resolve it. But he said the process should start right away, adding that the longer the wait, the more painful it will be.
After the financial crisis in 2008, the US Federal Reserve instituted the nation's first Quantitative Easing Policy. And in November last year, the Fed announced a 600 billion dollar second quarter to buy US treasury bonds. Paulson says the easy money policy will not ignite inflation in the US, but stimulate economic recovery.
He believes the US financial market will grow fast over the next half year, although he is still cautious about its prospects.
Boao: Growing pains and benefits
Bo'ao, a small town on the east coast of China's island province of Hainan, has played host to the annual Boao Forum for Asia since its inception in 2001. Over the past 10 years, the quiet and unknown place has witnessed economic transformation from a fishing village to tourism town. Our reporter Shen Le has been talking to the locals there on how life has changed for them.
10th Boao Forum to Focus on “Inclusive Development” in Asia
BEIJING, Jan. 6, 2011 – The Boao Forum for Asia (BFA) will celebrate its 10th anniversary this year with an annual conference focusing on “Inclusive Development.” To be held April 14-16, the BFA Annual Conference 2011 will gather business leaders, politicians and intellectuals to discuss ways of ensuring that economic growth benefits all and aids social development.
Newly-appointed BFA Secretary General Zhou Wenzhong said that the BFA Annual Conference had become the premier platform for discussion and debate on economic development in the Asian region, and this year it will welcome a record number of high-profile delegates. Sticking to the forum’s tradition of tackling the economic and social challenges facing Asia with the aim of promoting regional economic integration, Zhou said the theme for this year’s forum, “Inclusive Development: Common Agenda and New Challenges,” was apt and timely.
CCTV Rediscovering China - Wuxi's economic story VIDEO
See Kaixin's - China & Tibet
Global Times
The UK taught the world how to produce in the 19th century, the US showed the world how to consume in the 20th century, and China needs to demonstrate how to develop in a sustainable way in the 21st century.
Mystery jet 'flies' again
Photos of China's J-20 stealth fighter prototype are all the rage on online military forums, after word emerged that another test flight was completed Sunday when officials in Beijing celebrated the 60th anniversary of the establishment of China's aviation industry.
An alleged J-20 prototype prepares to take off from the Chengdu Aircraft Design Institute's airfield in Sichuan Province on Sunday.
Oil bonanza in South China Sea
At a press conference Thursday, Hong Lei, spokesman of the Ministry of Foreign Affairs, reiterated that China has indisputable sovereignty over the South China Sea islands and adjacent waters.
The region has abundant resources of oil and natural gas, and some surrounding countries have been exploring resources there for years.
As part of the strategy to deepen the exploitation of deep-water resources, China has stepped up efforts in oil and natural gas mining in the areas, but overall levels of investment and production are considerably smaller than those of nearby countries such as Vietnam and the Philippines.
Although the government has expanded exploration in the area in the hopes of easing China's dependence on imported oil, technological limitations and continued explorations from surrounding countries that disregard Chinese claims over the areas are hindering the ambitious plan.
Markets to favor foreign exporters
China will boost domestic consumption in the next five years to give momentum to the economy and will continue to be an attractive export market for foreign enterprises, Chinese President Hu Jintao promised at the ongoing Boao Forum for Asia (BFA).
BRICS summit: one for all, all for one
The world's West-centric standpoint will not be maintained for long. However, BRICS countries neither seek nor have the ability to establish another political and economic center, accurately reflecting the true state of transition of the international community today.
The national strength of BRICS countries is on the up, but converting strength to power is slow going. They must thus be patient and resist being called an "anti-Western alliance."
The restraint of emerging countries and the generosity of Western countries are both indispensable. It is not justified to refuse more development rights to BRICS countries, but the feelings of the developed countries should also be taken into consideration.
BRICS countries look forward to increased cooperation. The public opinions in the five countries are in favor of more political coordination and diplomatic development. The Sanya Declaration criticized the NATO bombing of Libya, and in doing so became the most forceful voice of opposition against the air strikes.
Among the five BRICS countries, China, with the strongest comprehensive strength, is the most persistent in low-key diplomacy, which prevents the organization from being seen as opposed to the West at its inception. However, Russia and India will also affect China. We believe that the BRICS summit might help China to express itself truly.
A West-centric perspective must experience the changes of a new era. Emerging countries do not challenge the West, but nor should they worship it. If the West is not broad-minded enough to face this reality, there is sure to be a tough road ahead.
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Dialogue
A 30 Minute Current Affairs Programme on CCTV - 9 (In English) where current issues are discussed by experts from China and Internationally:
Special Dialogue - Boao Forum for Asia
Advertising industry evolving in new age
China-US people-to-people exchanges
BRICS urges more representation foremerging Ecomonies
Architectural design and facelift work
China and Brazil seek closer ties
International News Sources
The Wall Street Journal
Economists React: China Ups Reserve Ratio Again
With new numbers showing China’s consumer price inflation continuing to accelerate, the People’s Bank of China on Sunday announced a 0.5 percentage point increase in the share of deposits banks must hold in reserve, otherwise known as the reserve requirement ratio. It was the fourth such move so far this year and came less than two weeks after the central bank raised benchmark interest rates. Analysts weigh in: ...
See Kaixin's - ECONOMIC CHINA
Yuan's Role in China Trade Grows Quickly
BEIJING—About 7% of China's foreign trade in the first quarter was done in transactions denominated in yuan, up from 0.5% a year earlier, illustrating the Chinese currency's rapidly growing—though still small—international role.
See Kaixin's - YUAN REVALUATION & INTERNATIONALISATION
Paulson Plans to Pen China Book
“I’m not talking about this much because I’m taking plenty of time, and this won’t be like my book on the financial crisis, where I did it in nine months, but I’m also planning to write a book on China and doing business in China, and just sort of demystify that,” Mr. Paulson said at the Boao Forum ...
Former U.S. Treasury Secretary Henry Paulson speaks at the Boao Forum For Asia Annual Conference 2011 at The International Conference Center of the Boao on April 15, 2011 in Boao, China.
How High Can the Private Jet Industry Fly?
Private jet manufacturers are looking to China for sales to soar. But with undeveloped infrastructure, tight regulations and limited hangar space, it could be a while before the industry is flying high.
U.S. Technology Firms, China Tangle Again Over Contracts
There's an old proverb in China: The mountains are high, and the emperor is far away—meaning, if you're a bureaucrat out in the hustings, you can pretty much forget about Beijing and do whatever you like.
U.S. companies are learning this the painful way.
Shell Shock: Chinese Demand Reshapes U.S. Pecan Business
Pecans are as all-American as anything can be. Washington and Jefferson grew them. They are the state nut of Arkansas, Alabama and Texas. The U.S. grows about two-thirds of the world's pecans and chews most of them itself.
For generations, pecan prices have fallen with bumper crops and soared with lousy ones. But lately, they've only been going up. A pound of pecans in the shell fetched $2.14 on average last year, according to the U.S Department of Agriculture, nearly double what they brought three years earlier.
The reason: The Chinese want our nuts.
Kaixin OpEd – Stop laughing, this is serious.
Perhaps the headline should have been ‘The Canary in the Cage!’
From the news yesterdy: Global food crisis "one shock away", says World Bank chief
It is not just a simple as pointing the finger at China or any one nation, it is a global problem …..
There is simply not enough food being produced for it to be available at a reasonable price to everyone in the world.
So, inevitably, in our capitalist world, the food will go to those who can afford to pay the most for it.
Bring in population growth, bring in the rising wealth of the BRICS nations and you have a looming problem.
Bring in one major environmental disaster and you have a world crisis.
cheap, cheap …… cheap!!!
Though, cheap is not what the price of food will be.
Age: Global food crisis "one shock away", says World Bank chief
The global economy is “one shock away” from a crisis in food supplies and prices, says World Bank President Robert Zoellick.
Yuan's Role in China Trade Grows Quickly
BEIJING—About 7% of China's foreign trade in the first quarter was done in transactions denominated in yuan, up from 0.5% a year earlier, illustrating the Chinese currency's rapidly growing—though still small—international role.
Kaixin OpEd – Perhaps America should ponder that there would be no real demand for the Yuan if America had shown integrity in its role as the guardian of the world’s reserve currency.
Instead, from the time the $US was de-linked from gold in the early 1970’s, America has systematically debased its real value, and printed it at will to pay for its military.
Regan used the printing presses to defeat the USSR who could not print their own money and use it in the world.
Whether the defeat of the USSR was a good thing, or not, will be decided by history, it is far too soon to tell.
Then in 1987 Greenspan opened the printing presses to full speed and miss-priced the $$$’s spewing out.
Every financial crisis was met with the same response, more $$$’s and lower interest rates …… until the ultimate economic lunacy, a flood of $$$’s and 0 interest rates.
The world could only look on and take cover.
Kaixin almost cried with laughter this morning (well, I think it was laughter, it was hard to tell, perhaps there was a touch of hysteria).
Standard and Poors threatened to downgrade America’s credit rating.
Not once leading up to the GFC did they blink. Subprime debt was given AAAAAAAAA+++++++++ ratings and flogged to the world. Not once did they blink.
Now, when America is just struggling to its feet (with a long way to go) they downgrade its credit rating.
The economists at Standard and Poors have a grip on something, but it is not reality.
Geithner says with confidence that Congress will lift the debt ceiling.
And how do you think America will pay off its debt …. you guessed it! Print more and more of those $$$$$’s.
No wonder the world is eyeing off alternatives, in particular the BRICS.
Which country came out of the GFC with money in the bank and with the capacity to nurse its country through the crisis using money, not debt?
Yes, China.
Which country will become a leading economy in the 21st centre?
Yes, China.
The Yuan is looking better and better, while at the same time the $US is looking worse and worse.
Caveat: America is a great country with enormous potential. It will get through all this by going back to the basics of hard work and thrift …. just as soon as the American people take away the power from the spivs on Wall St and take back control of their democracy.
Ahead of Shanghai Auto Show, Beijing Warns of Less-Robust Growth
BEIJING—Automotive officials predicted slower growth in China's market this year, even as big car makers prepared to unveil new models at the Shanghai auto show—an event that will highlight the country's importance to the global industry.
Reserving Judgment on PBOC's Inflation Fight
The latest increase in China's reserve-requirement ratio is more about soaking up an ongoing influx of liquidity than getting ahead of the curve on inflation.
China New Home Price Rises Slow
SHANGHAI -- Prices of newly built homes in 49 of the 70 large and medium-sized Chinese cities covered by a government survey rose in March from the previous month, down from 56 cities in February and 60 in January, indicating the central government's tightening efforts are gradually beginning to show results.
The New York Times
Inflation in China Poses Big Threat to Global Trade
By DAVID BARBOZA
SHANGHAI — As the United States and Europe struggle to get their economies rolling again, China is having the opposite problem: figuring out how to keep its revved-up growth engine from generating runaway inflation.
Fishermen and sellers in a fishing port in Sanya City of Hainan Province, China - NYT
Caixin Online
China Raises Reserve Requirement Ratio
Economists expect that the central bank will continue to act on rising inflation with measures including interest rate increases and exchange rate adjustments
(Beijing) – The People's Bank of China, China's central bank, announced it would lift cash reserve requirements for banks on April 17 by 0.5 percentage points.
Property Developers Still Riding Strong on Sales
China's top 10 developers saw property sales increase 78 percent in the first quarter of 2011, according to consultancy Centaline Property
(Beijing) – Strong balance sheets give leading developers little incentive to cut prices despite increasingly tighter government curbs over the housing market, Centaline Property said in a study on April 15.
The Words and Images of a Dynasty
Strategies of communicative control during the rule of Emperor Yongzheng
In the summer of 1731, Emperor Yongzheng sent the chief censor of his cabinet, Shi Yizhi, out west to head a delegation that would visit provinces supporting the war effort against the Junggar tribes of Xinjiang.
Japan, China and Lessons from Nuclear Leaks
Transparency was a victim during the Fukushima crisis, yet Japan's institutional strengths are worth noting
More than a month after an earthquake and tsunami, Japan was still battling to contain a subsequent nuclear crisis. And low-level radioactive dust and seawater had been detected in several countries in the Asia-Pacific region.
Lights Going Out for Pingtan's Rail Tunnelers
Expert tunnel builders from a Fujian community have started exiting the nation's railway expansion project
Men from Fujian Province's Pingtan County are famous tunnelers, and the companies that employ them have been contracted to build 70 percent of the tunnels completed or soon to be built for the nation's rapidly expanding railroads.
Shifting Strategy for Real Estate Developers
As a boom for residential business fades, property developers are setting ambitious goals in the commercial sector
At recent meetings across China where property developers announced 2010 financial results, confident real estate executives told their investors about an important, and collective, shift in business strategy: From this year forward, commercial projects would replace residential properties as the industry's new focus.
The Age
It's the season for price-fixing chastity
John Garnaut
Investors and central bankers may be fretting about Chinese inflation spilling into global markets but Beijing officials are relaxing into their evenings with bottles of fixed-priced baijiu. The China National Liquor Association was one of 24 industry associations that last week ordered its members to "stabilise" prices.
Kaixin OpEd – Kaixin will watch with interest this tussle in China between Free Market and Command & Control.
Mounting US debt a fast-growing risk to China
William Pesek
US TREASURY Secretary Timothy Geithner has it backwards. The real question is whether Beijing is willing to double down on a nation whose balance sheet makes Italy look good. Holding $US1.2 trillion of US debt is a fast-growing risk to China. Traders have a theory about why the euro is reasonably stable amid a broadening debt crisis: Asian central banks are converting proceeds from recent intervention moves into other currencies. ''Asian central banks'' has become a euphemism for China, whose reserves now exceed $US3 trillion.
Kaixin OpEd – This is an issue that Beijing is well aware of, Kaixin is sure.
Well, if we all know about it, then it is probable Beijing has an inkling …
America is till the largest global economy and still the most powerful country on this planet.
America has an enormous capacity.
America will not go broke.
It is not in America’s interest. It is not in China’s interest. It is not in the world’s interest.
During the first half (probably the first quarter) of the 21st century there will be adjustments and glitches, but America will survive, of course, and continue to be a major world economy.
However, it is unlikely that America will retain the dominance it had in the second half of the 20th century.
It will have to share the stage with BRICS, Europe, Africa.
This, in Kaixin’s opinion, is a good thing.
One dominant power is a bad thing.
Asia Times Online
China tightens inflation curbs
By Olivia Chung
China's latest increase in the amount banks have to keep in reserve is unlikely to be the last move this year to rein back inflation, now rising at its fastest pace since mid-2008. The government rejects fears that prices combined with slowing growth is a matter of immediate concern.
CHINA AND THE STATUS QUO
Biding time for an orderly rise
By Francesco Sisci
This is the conclusion of a three-part report.
Part 1: China banks on giving peace a chance
Part 2: The China 'threat' as a blessing
Keeping the present geopolitical status quo going is an imperative for China since American-led globalization allows it to concentrate on building economic might with the thought that political clout will follow. But Beijing is in no hurry to take over America's costly military or political responsibilities, and, besides, history tells the leadership to play the long game.
China proposes Seoul lead nuclear talks
By Sunny Lee
China has suggested a "three-stage" process for North Korean nuclear disarmament, with inter-Korean talks followed by a United States-North Korea dialogue and then resumption of the six-party talks. The plan would entail a radical shake-up of diplomatic leadership in dealing with Pyongyang, with Seoul handed a lead role that neither Washington nor Beijing particularly wants.
See Kaixin's - CHINA & TAIWAN
US-China rivalry still a mismatch
By Jinghao Zhou
America's people and leaders increasingly see China's rise as an economic and military threat to US dominance. However, the Middle Kingdom's economic growth is threatened by dangerous social undercurrents and burnout, and its army - which has for two millennia focused on defense - is a minnow compared to US might.
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See Over for the 18th of April 2011
CULTURAL CHINA
Articles of interest from the week's news
Insights into China's Society & Cutlure
CCTV9 - Rediscovering the Yangtze River
People fly kites at an open ground in Weifang, East China's Shandong province, April 17, 2011. The 28th Weifang International Kite Festival was held on Sunday, attracting more than 100,000 people from 29 countries.
Two girls fly kites at an open ground in Weifang, East China's Shandong province
The joy of school for Tibetan pupils
Tibetan primary school students write sentences and words on a blackboard on April 18, 2011, in Kangding, Sichuan province. The school with a history of more than 60 years has evolved into a model school in local rural areas for its free and boarding education system
CCTV Ancient Tibetan temples get makeover VIDEO
Let's head to southwest China's Tibet Autonomous Region, where ancient Buddhist temples dating back several centuries are receiving a facelift.
A professional team is hard at work to ensure an authentic restoration at Sera Monastery near the regional capital Lhasa.
The Sera Monastery plays a major role in Tibetan Buddhism and culture.
But 600 years of exposure to the plateau's harsh weather has taken its toll on the temple just north of Lhasa.
See Kaixin's - CHINA & TIBET
Chinese state councilor visits Harvard University
BOSTON, April 13 (Xinhua) -- Chinese State Councilor Liu Yandong says she expects Harvard University to continue playing an active role in promoting exchanges of education, science and technology, and culture between China and the United States.
Havard has shared a long-standing friendship with China and has established fruitful cooperation with several higher education institutions in China in recent years, Liu said at a welcome reception hosted by the world-renowned university on Wednesday.
China mulls legislation on domestic violence: women' s federation
CHANGCHUN, April 14 (Xinhua) - Drafting China's first independent law on domestic violence has already been put on the country's top legislature's agenda, an official with the All-China Women's Federation (ACWF) said.
This would be the country's first independent and comprehensive law on domestic violence, as currently only a few clauses in several other laws, such as the Marriage Law, have addressed some aspects of the offence.
Chinese Women's Research Network (WSIC)
All0China Women's Federation (ACWF)
Women in China
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