29th of June 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
People's Daily
Wen tells Merkel: China to back up euro
Premier Wen Jiabao told German Chancellor Angela Merkel Tuesday that the two largest economies in Asia and Europe could forge even closer economic and trade ties, as the two leaders reiterated belief they would back up the euro.
US export control disappoints China
A spokesman of the Ministry of Commerce (MOC) said Tuesday China is deeply disappointed at the United States' decision to withhold export control of high-tech products to China, saying such move was "discriminatory."
Full steam ahead for high-speed rail patents overseas
China's railway sector will stick to its strategy to explore high-speed rail markets overseas, a railway ministry spokesman said.
China, Nepal vow to further ties
Senior Chinese political advisor Li Jinhua met here Monday with a cadre delegation from the Unified Communist Party of Nepal (Maoist) (UCPN-M) and the Communist Party of Nepal-United Marxist Leninist (CPN-UML).
How CPC successfully implemented 'one country, two systems'
When the Communist Party of China was founded 90 years ago, the Party committed itself to the historical mission and sacred responsibility of fundamentally accomplishing China's reunification and the solidarity of the Chinese nation and has made persistent struggles to achieve the goals. The Party's 90-year history, in a sense, is the struggle of the Party to lead the Chinese people in achieving the country's reunification and the solidarity of the Chinese nation.
China insists on bilateral talks to resolve South China Sea disputes
China has always insisted on resolving disputes with other countries in the South China Sea through bilateral negotiations, Foreign Ministry spokesman Hong Lei said at a press conference on Tuesday.
Clashes over South China Sea pose a test to new E Asian Structure
By Li Hongmei
South China Sea waters will be churned up if some regional countries insisted on risky ventures to address the so-called border issue. What is happening now is already inviting the global concerns--- Vietnam is using live ammunition in its war exercises in the waters of the South China Sea. Meanwhile, Philippine President Benigno Aquino's office stated it was renaming the South China Sea as the "West Philippine Sea" amid the mounting tensions with Beijing.
A vision for ruling CPC
By Li Hong
Three events will serve as footnotes for the 90th anniversary of the ruing Communist Party of China: the world's single longest high-speed railroad connecting Beijing and Shanghai goes to operation; top lawmakers approve an amendment to the tax code, giving tax exemptions to low- and middle-income earners but adding tax on the rich; and probably, by coincidence, Premier Wen Jiabao visits Hungary, Britain and Germany, forging a deeper and closer partnership with Europe.
China Daily
Beijing to develop 42 new suburban towns
Beijing - The capital is to raise 10 billion yuan ($1.55 billion) during the next decade to tap the diverse potential of 42 underdeveloped suburban towns, according to the Beijing Municipal Commission of Development and Reform.
Grassroots candidate tops the poll
RUIJIN, Jiangxi - When he started to feed milk cows in his courtyard eight years ago, Zeng Haisheng never expected to become a lawmaker at the local people's congress.
Social security set to cover foreign workers
Foreign workers in China will soon be covered by the country's social security program, according to the Social Insurance Law, which will take effect on Friday.
The new law will allow foreign employees to receive medical, work injury, retirement, unemployment and maternity benefits similar to those for Chinese citizens.
XinHua News
China, Slovenia pledge stronger defense ties
BEIJING, June 28 (Xinhua) -- China and Slovenia on Tuesday pledged to deepen substantive cooperation between their military forces.
Top Chinese leaders to meet with Sudanese president
BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao and other top leaders are scheduled to meet with visiting Sudanese President Omar al-Bashir on Wednesday, Foreign Ministry spokesman Hong Lei said Tuesday.
FM press conference on 28th June
Global Times
US, Philippines start joint naval exercise
The US and the Philippines began an 11-day joint naval exercise on Tuesday, shortly before China accused the US Senate of intervening in the South China Sea issue.
Beijing on Tuesday slammed a non-binding resolution by the US Senate on Monday claiming that China's use of force in the South China Sea has caused serious concerns in the region.
"The resolution was groundless. It distorted the truth. We hope that US senators can do more helpful things for regional peace and stability," China's Ministry of Foreign Affairs spokesman Hong Lei said on Tuesday.
"China insists on resolving the South China Sea issue through bilateral negotiations with the other countries involved. We oppose intervention from countries outside the region, and condemn any action that would exacerbate the issue," Hong added.
On Sunday, China and Vietnam pledged to resolve their differences over the South China Sea issue through bilateral talks.
Dangerous nationalism risks future of South China Sea
Recent disputes in the South China Sea have been focused above all on the Nansha Islands, drawing in the Chinese mainland, Taiwan, Vietnam, the Philippines, Malaysia, and Brunei and going back to the 1960s.
Kaixin OpEd - A good historical perspective
SCO hails anti-terror successes
The Shanghai Cooperation Organization (SCO) marked 10 years since its inception Wednesday during a summit in Astana, Kazakhstan, where the group outlined its future cooperation in anti-terrorism and trade, and its stance on international issues.
Keep Sea issue simple, says Beijing
China has warned against attempts to internationalize and complicate the South China Sea issue but said it will not resort to the use of force in defusing tensions.
The Wall Street Journal
Wen Says China Has Offered to Buy European Bonds
BERLIN—Chinese Premier Wen Jiabao said China has offered to help Europe resolve some of its financial difficulties by buying government bonds.
"The difficulties that have appeared in Europe are temporary. As long as financial reforms and adjustments continue, the difficulties can be gradually overcome," Mr. Wen said at a news conference with German Chancellor Angela Merkel.
Chinese Company Orders 62 Airbus A320s
FRANKFURT—ICBC Financial Leasing Co., a leasing company held by China's biggest lender Industrial & Commercial Bank of China Ltd., Tuesday ordered 62 Airbus A320 aircraft at a ceremony in Berlin.
China, Ecuador Sign $2 Billion Loan Deal
QUITO—Ecuador's government on Monday signed a loan for $2 billion with China Development Bank Corp., Ecuador's Finance Ministry said, as China deepens its financial ties with the South American nation.
Video: China Risks Property-Bubble Burst
Chinese real-estate prices are declining, which has investors asking whether the country’s economy is over-leveraged. Could China’s real-estate bubble burst in coming years–and, if it does, how might that affect other countries? Listen to veteran WSJ macroeconomic reporter Bob Davis break it down.
See Kaixin's - CHINA REAL ESTATE
Australia's Westpac Applies for Yuan License
BEIJING—Australia's Westpac Banking Corp. has applied to conduct local-currency banking in mainland China, joining a growing list of foreign banks seeking to beef up yuan-related services amid increasing use of the currency in international transactions.
A yuan license from the China Banking Regulatory Commission would boost Sydney-based Westpac's ability to finance cross-border trade in the yuan, also known as ...
IMF Appoints Lagarde as Managing Director
WASHINGTON—The International Monetary Fund executive board Tuesday officially named Christine Lagarde as the next IMF director, after the French finance minister won late support from the U.S. and several major emerging-market nations.
See Kaixin's - The selection of the next IMF President
Innocents Aboard: A High-Speed Rail Test Run
The Beijing-Shanghai high-speed rail line, held up by the government as a symbol of China’s economic and technological prowess, has gotten its share of bad press – including from China’s usually tightly controlled domestic media.
Much of that skepticism appeared to evaporate Monday as several hundred Chinese and foreign journalists boarded the 300 kilometer-per-hour train for a test run ahead of the line’s scheduled launch on Thursday.
An Anti-Bribery Boom in China
Hefty fines handed down for breaches of the U.S. Foreign Corrupt Practices Act and the advent of new British legislation to combat bribery are good news for risk consultants active in China.
A DIY Guide to Exposing Dodgy Companies
But thanks to BofA-ML’s guidelines, now anybody can engage in a bit of sleuthing, Muddy Waters style. Focusing on 32 Chinese companies listed in the U.S., Hong Kong and China where there were publicly disclosed details regarding fraud, BofA-ML says there are three common accounting frauds and three common ways of finding out.
Video: Private Sleuths for Investors in Chinese Companies
Stuart Witchell is what you might call a private detective for investors who are interested in China but concerned about the accuracy of financial information on Chinese businesses. He’s in a growth industry. Investors around the world eager to profit from China’s fast-growing economy want to know the risks. And hedge funds are circling over more and more Chinese stocks they want to bet against. WSJ’s Alison Tudor reports.
China’s Haute-Couture High Rollers
Could China’s taste for luxury be on the ropes?
Some investors fear rising inflation and property prices will hit China’s $21 billion market for luxury goods. But demand is showing little sign of a slowdown.
Baijiu All Around as Diageo Wins Bid Approval
A few celebratory shots of baijiu may have been guzzled in London Monday night as Diageo PLC finally won regulatory approval for its bid for a Chinese producer of the firewater.
The New York Times
Chinese Leader's Visit to Germany Ends With Large Trade Deals
BERLIN — Wrapping up a five-day visit to Europe, Prime Minister Wen Jiabao of China concluded trade deals in Germany worth several billion euros, including a contract to purchase 88 Airbus A320 aircraft.
China National Petroleum Begins Work at Al-Ahdab Oil Field in Iraq
The China National Petroleum Corporation has begun operations at the Al Ahdab oil field, the first major new area to start production in 20 years.
Caixin Online
Under the Gun for Capital
After China's banking regulator put up higher capital requirements, every publicly-listed commercial bank is now in a rush to refinance – but will there be a pushback from shareholders?
Last year, commercial Chinese banks scurried to replenish their coffers. This year look just as frantic, with added pressure from the China's banking regulator.
JP Morgan China JV Wins Business License
JP Morgan First Capital, a joint venture between JP Morgan Chase & Co. and First Capital Securities, received the green light on its business license from regulators
(Beijing) – JP Morgan First Capital said on June 28 that it was approved for a securities business license from the China Securities Regulatory Commission.
A Fringe of Foam on Foreign Shores
China's real estate investment cups have runneth over – and domestic buyers have gone abroad on a strong yuan and favorable lending conditions – but has the investment bubble followed them?
In late May of this year, more than 400 people lined up to purchase apartments at a site in New Westminster City, a suburb of Vancouver. Within two and half hours of the start of the sale, all 153 units had been sold.
See Kaixin's - CHINA REAL ESTATE
Asia Times Online
SUN WUKONG
CCP rediscovers democracy, at 90
By Wu Zhong, China Editor
As the Chinese Communist Party celebrates its 90th birthday and prepares for new leaders, it is re-implementing Mao Zedong's early ideas of intra-party democracy. Chairman Mao believed his democratic model would allow the party to avoid the fate of vanquished dynasties. Now, with the "on horseback" revolutionary leaders long gone, votes are the only way to confer legitimacy
China runs gauntlet in South China Seas
By Jian Junbo and Wu Zhong
China has remained cool in the face of Vietnamese provocations over disputed South China Sea territories, aiming to reinforce its status as a "responsible player" in international affairs. However, nationalists are interpreting this as weakness. While the backlash is for now too minor to provoke the social instability that worries the Chinese Communist Party, if it heats up, so will Beijing's response.
BOOK REVIEW
Pomp and porn during the Qing Dynasty
Decadence Mandchoue by Sir Edmund Trelawny Backhouse
Reviewed by Kent Ewing
In an erotic romp through the twilight years of the Qing Dynasty, these memoirs recount among other trysts the Victorian Orientalist author's subservient servicing of the Empress Dowager Cixi, then 69, and adventures with the eunuchs and catamites of Peking's bathhouses. Intermingled with fantastical imperial palace intrigue, the work has faced charges of fraudulence and obscenity; this belies its charm and historical significance.
Mao's army on the attack
By Kent Ewing 
Mao Zedong romanticists are so worried that the mythology of the Great Helmsman may be officially debunked they are calling for the growing band of Mao bashers to be prosecuted. The campaign is unlikely to gain official traction though: China's leaders, including Red Book-waving Chongqing party boss Bo Xilai, use Mao's words, never his policies, and only when it suits them.
THE ROVING EYE
An extreme traveler, Pepe's nose for news has taken him to all parts of the Pepe Escobar globe. He was in Afghanistan and interviewed the military leader of the anti-Taliban Northern Alliance, Ahmad Shah Masoud, a couple of weeks before his assassination
China Themes
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