30th January 2012
The Lion Awakes
Daily News, Culture & Current Affairs about China
See how China sees the world, see how the world sees China
Xiaosui Zhou is the owner & editor of Kaixin
These are stories of her time growing up in China
during the Cultural Revolution
People's Daily
Interconnectivity calls for more responsible national roles
DAVOS, Switzerland, Jan. 29 (Xinhua) -- The world is growing increasingly interconnected and major problems in any single country or region can have huge repercussions across the globe.
This was a consensus among participants at the annual World Economic Forum, which featured discussions on the European debt crisis, efforts to sharpen leadership and new growth patterns.
The challenges are multi-faceted and the debt crisis in the eurozone might be the biggest influence on the world this year.
China issues 175 bln yuan in loans to support low-income housing in 2011
BEIJING, Jan. 30 (Xinhua) -- China's central bank said Monday that banks lent 175.1 billion yuan (27.77 billion U.S. dollars) to support the construction of low-income housing in 2011.
The lending accounted for 50.1 percent of the sector's total new loans, up 31.7 percentage points from the beginning of last year, the People's Bank of China (PBOC) said in an annual financial report on its website.
Attack on China's RMB exchange rate unfair: PBOC adviser
DAVOS, Switzerland, Jan. 27 (Xinhua) -- Attack on China's currency exchange rate is totally unfair, as the renminbi (RMB), also known as yuan, has been continuously appreciating, an adviser to China's central bank said here on Friday.
"RMB exchange rate has probably caused the biggest misunderstanding between China and the world," Li Daokui, a member of the monetary policy committee of the People's Bank of China (PBOC) told Xinhua in an exclusive interview.
China committed to helping build Africa's self-development capability
BEIJING, Jan. 27 (Xinhua) -- China is committed to helping African nations to improve their abilities for self-development, Chinese Vice Commerce Minister Gao Hucheng said on Friday.
Gao, also International Trade Representative of the Ministry of Commerce, made the remarks in an article published by Xinhua ahead of top Chinese political advisor Jia Qinglin's visit to Africa. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, is scheduled to attend the opening ceremony of the 18th African Union summit and pay an official visit to Ethiopia from Friday to Sunday.
"The major task of the economic and trade cooperation between China and Africa is to help improve Africa's development conditions and enhance its self-development capability," said the official.
China says Africa's views should be respected in solving Libyan conflict
UNITED NATIONS, Jan. 26 (Xinhua) -- China said here on Thursday that in the process of addressing the Libyan issue, Africa's concerns should receive adequate attention and Africa's views should be duly respected.
Chinese, Israeli leaders congratulate on anniversary of bilateral ties
BEIJING, Jan. 24 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao on Tuesday exchanged congratulatory messages with their Israeli counterparts Shimon Peres and Benjamin Netanyahu on the 20th anniversary of the establishment of diplomatic ties between the two countries.
German Chancellor to visit China in February
BEIJING, Jan. 20 (Xinhua) -- German Chancellor Angela Merkel will visit China in early February, Chinese Foreign Ministry spokesman Liu Weimin confirmed on Friday.
During Merkel's China visit, Chinese and German leaders will exchange views on bilateral ties and how to enhance the strategic cooperation between China and Germany, Liu said at a regular news briefing.
They will also talk about the world economic situation and Europe's economic and financial situation, said the spokesman.
Foreign workers pour into China
BEIJING / SHANGHAI - China is luring more foreign job seekers as its economy shines amid the global slowdown.
Ian Hoorneman, a Harvard Business School MBA holder from the United States, came to Beijing in 2009 and is now a counselor and coordinator for international affairs in Beijing Royal School.
Although Hoorneman doesn't earn as much as he did in the US, where he ran his own educational institution, he believes China's education market is more promising.
"In the next 20 years there will be an opportunity for me to earn a lot more money in China than the sum I could earn in the US," he said.
China raises pensions by 10 pct for enterprise retirees
China announced on Friday it will raise pensions to each enterprise retiree by 10 percent, starting January 1, 2012, in response to commodity price hikes and income growth.
Blaming China won't solve US problems
BEIJING - Blaming China will not solve problems in the United States or help presidential candidates win more votes, a Foreign Ministry official said on Friday.
"The US itself will never benefit from politicizing trade issues and promoting protectionism," said Xie Feng, director-general of the Department of North American and Oceanian Affairs of the Foreign Ministry.
China's top 10 scientific breakthroughs of 2011
China’s Top 10 Scientific Achievements 2011 elected by academicians of the Chinese Academy of Sciences and Chinese Academy of Engineering was announced on Jan .17 in Beijing.
China to increase its voice in 2012
BEIJING, Jan. 18 (Xinhua) -- China will have a more open posture and adopt more forceful measures to spread its voice in 2012, as it seeks to obtain increased understanding from the world about its values and development pattern, a senior official said Wednesday.
Wang Chen, head of the State Council Information Office, said China also hopes to seek a better understanding about its national conditions as well as domestic and foreign policies from the international community.
China signs currency swap deal with UAE
People's Bank of China, China's central bank, said on Jan. 17 that it has signed a 35-billion-yuan (5.6 billion U.S. dollars) currency swap agreement with the Bank of the United Arab Emirates (UAE).
China to help drive world GDP expansion
EIJNG - Despite registering a slowdown, China's growth will play an increasingly important role in the global economy, as forecasts suggest the world is on the verge of another major downturn in 2012, according to experts.
A report by the United Nations, released on Tuesday, put the outlook for global economic growth at 2.6 percent this year and 3.2 percent for 2013, as compared with 2.8 percent seen in 2011.
China, India sign pact on border affairs
NEW DELHI - China and India signed an agreement here Tuesday on establishing a working mechanism for consultation and coordination over their border issues.
Chinese premier urges greater China-Saudi business links
RIYADH, Jan. 15 (Xinhua) -- Visiting Chinese Premier Wen Jiabao urged Saudi and Chinese enterprises to expand cooperation and mutual investment here Sunday.
Wen made the remarks while meeting Saudi entrepreneurs, including Abdul Rahman Al-Jeraisy, president of the Saudi Arabia-China Friendship Association.
The Chinese premier said his visit to Saudi Arabia this time was aimed at seeking cooperation and strengthening friendship between the two countries.
Cross-border RMB business grows steadily
Li said that with the approval from the State Council, the pilot program of RMB settlement in cross-border trade has been expanded to the entire country, covering all cross-border current account transactions such as goods trade and service trade as well as certain capital account activities. The program has facilitated Chinese direct investment abroad and foreign direct investment in China using RMB funds.
China will promote its cross-border RMB business steadily, in a bid to boost trade and investment facilitation.
Currently, 181 foreign countries and regions have cross-border actual RMB receipt and payment business in China and the business scale has been enlarging stably, Li said.
China cannot stop buying Iranian oil
t is said that the United States wants China to cooperate with it through stopping buying oil from Iran, so as to tighten sanctions against Iran. However, China has no reason to blindly follow the economic sanctions against Iran initiated by the United States, no matter which side is considered. Particularly, it is impossible for China to stop buying Iranian oil.
China to boost Central Asia energy ties
BEIJING - China will continue to expand energy ties with Central Asian countries, which have proven to be a fruitful model of mutually beneficial cooperation, a senior Chinese diplomat said on Thursday.
Zhang Hanhui, director-general of the Foreign Ministry's Department of European-Central Asian Affairs, said the Central Asian economy showed strong momentum last year with 7 percent growth in GDP, and cooperation between nations in the region and China has great potential to be upgraded to a new level.
Chinese energy enterprises have participated in oil and gas development in Kazakhstan, Turkmenistan and Uzbekistan, he said.
28th China Harbin Int'l Ice and Snow Festival kicks off
Two kids play with each other in the Ice and Snow World in Harbin, capital of northeast China's Heilongjiang Province, Jan. 5, 2012. The 28th China Harbin International Ice and Snow Festival and the 13th Harbin Ice and Snow World opened here on Thursday. Made of 180,000 cubic meters of ice and 160,000 cubic meters of snow, the Ice and Snow World will put on show a wide range of ice and snow sculptures, including those of many cartoon figures worldwide.
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China Daily
Call to adjust interest rates
BEIJING - A former senior legislator has proposed that the authorities adjust interest rates to prevent inflation from eroding savings.
Cheng Siwei, former vice-chairman of the Standing Committee of the National People's Congress, the top legislature, also said that the government must use legislation to resolve an increasing number of mass incidents, or protests, rather than trying to "stifle" them.
China willing to aid bailout: EU leaders
DAVOS, Switzerland - The leaders of Denmark and Finland said on Friday that China has showed a willingness to contribute to global efforts to bail out debt-ridden European countries. However, a senior Chinese policy adviser said there should be preconditions.
Speaking at the World Economic Forum annual meeting in Davos, Helle Thorning-Schmidt, prime minister of Denmark, and Finnish Prime Minister Jyrki Tapani Katainen stressed the need for China and the European Union to cooperate to help struggling nations.
Both sides are "in the same boat", said Katainen. "China will suffer from the worsening economic situation in Europe, and vice versa, so it would be good for China to use part of its foreign reserves surplus through (the International Monetary Fund) to finance countries in trouble.
Davos grapples with bleak forecast
DAVOS, Switzerland - The European debt crisis and global challenges have cast a pall over the Swiss Alpine resort town of Davos unlike anything experienced before at the World Economic Forum, leading economists said.
US to streamline travel visas for Chinese
WASHINGTON / BEIJING - The United States is expected to simplify and quicken the process of visa applications for Chinese travelers, US President Barack Obama announced on Thursday as part of an initiative to boost tourism.
"Every year, tens of millions of tourists from all over the world come and visit America. And the more folks who visit America, the more Americans we get back to work," Obama said in the White House news release.
China's US Treasury stock at 16-month low
Country encouraged to put money into alternative varieties of assets
BEJING - China cut its holdings of United States Treasury bonds to the lowest level in 16 month in November in a step that analysts said was meant to continue the diversification of the country's foreign exchange reserves amid global uncertainties.
Chinese economy heads for soft landing in 2012
BEIJING - China's economy can achieve a soft landing in 2012 despite a global economic slowdown, World Bank chief economist Justin Lin said Wednesday.
China's massive foreign exchange reserves will help the world's second-largest economy shrug off external pressures and maintain a growth rate above 8 percent this year, Lin said at a press conference on the global economic outlook.
As official data show that the government's fiscal deficit is equivalent to about 25 percent of its gross domestic product, China has "lots of room" for a stimulative fiscal policy to stabilize its economy and maintain rapid growth, due to its low debt levels, Lin said.
US must be objective, Xi says
Vice-President marks Nixon trip with vision of future ties
BEIJING - The United States should view China's strategic intentions in an objective way and ensure that disputes between the two countries do not harm ties, Vice-President Xi Jinping said on Monday, ahead of a key visit to the US.
Iron ore trade platform will improve price transparency
BEIJING - China launched its first iron ore spot trading platform on Monday, a move meant to help the nation - the world's largest user and importer of the commodity - gain more influence in global pricing.
The China Beijing International Mining Exchange (CBMX) launched the online platform together with the China Iron & Steel Association (CISA) and the China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters.
"The iron ore market should be determined by and reflect real supply and demand. However, monopoly practices and price manipulation have exerted a big impact on prices" and hurt many Chinese companies, said Wang Xiaoqi, vice-chairman of CISA.
China accounts for 60 percent of the global iron ore trading market. The nation's iron ore sources increased from 48 countries in 2010 to 67 in 2011, and there was a marked expansion in physical transactions.
Taiwan's Ma wins tight re-election race
BEIJING / FUZHOU - Incumbent Taiwan leader Ma Ying-jeou won a close re-election bid on Saturday, leveraging his message of greater prosperity through expanded ties with the Chinese mainland to beat his populist-minded opponent.
The elections had been expected to be tight, but the "Central Election Commission" said Ma and his running mate Wu Den-yih had garnered 51.6 percent of total votes, against 45.6 percent for Tsai Ing-wen and her running mate Su Jia-chyuan of the main opposition Democratic Progressive Party (DPP).
US curbs on Chinese firm 'puzzling'
BEIJING - China on Saturday voiced its "strong dissatisfaction and firm opposition" to sanctions imposed by the United States on a Chinese company for allegedly selling refined petroleum products to Iran.
The Obama administration on Thursday invoked US law to sanction China's State-run Zhuhai Zhenrong Corp, barring it from doing business in the US.
"Like many other countries, China maintains normal cooperation with Iran in energy, the economy and trade," Foreign Ministry spokesman Liu Weimin said in a statement issued on the ministry's website late on Saturday.
US visa applications sharply rise in China
WASHINGTON - The number of applications for US visas that were processed in China and Brazil in the first quarter of the fiscal year 2012 increased more than 50 percent from the same period last year, the US State Department said Thursday.
In China, US consular officers adjudicated nearly 260,000 visas in China in the first quarter of fiscal year 2012, which lasted from October to December 2011, compared to 175,000 in the same period in fiscal 2011, an increase of 48 percent.
China's forex reserves drop
BEIJING - China's central bank said Friday that the country's foreign exchange reserves as of the end of the fourth quarter last year had fallen to $3.18 trillion, down $20.6 billion from the previous quarter.
The net quarterly decrease was a rare case in recent years for the country, which is currently the world's largest holder of foreign exchange reserves
Premier Wen looks at the big picture
China and the US should focus on common interests, premier says
BEIJING - China and the United States should enhance economic and trade cooperation rather than politicize economic issues, leading government officials said on Wednesday.
"China insists that dialogue is better than confrontation, cooperation is better than containment," Premier Wen Jiabao said as he met US Treasury Secretary Timothy Geithner.
"We should take care of the core interests and concerns of each other, and resolve friction appropriately," Wen said.
"Both countries should take concrete measures and promote cooperation in trade, investment, infrastructure and high-tech, in a wider, closer, more balanced way."
Wen's remarks came against a backdrop of economic and trade friction between China and the US.
Millions on move as peak travel season starts
BEIJING - China started the Spring Festival peak travel season Sunday, with tens of millions of passengers, mainly migrant workers and college students, on the move in the world's largest seasonal migration.
The Spring Festival, or Chinese Lunar New Year, falls on January 23 this year. It is the most important traditional Chinese festival for family reunions.
A total of 3.16 billion passenger trips are expected during the 40-day peak travel season, or Chunyun (Spring transportation) in Chinese, up 9.1 percent from a year earlier, according to the National Development and Reform Commission.
Your hair or your uncle? There can only be one!
With the approach of the Chinese New Year, many Chinese people have to make a choice: to cut their hair or lose their uncles (here, 舅舅 jiùjiu, your mother's brothers).
It's obvious uncles are much valuable than haircuts, especially during the Spring Festival, when uncles are quite useful for handing out lucky new year's money (压岁钱 yā suì qián). So no matter whether you are a boy or a girl, in order to save their uncles' lives, everyone would prefer to have their hair cut before the eve of the Spring Festival (除夕夜 chú xī yè). That's why barber shops are always so busy this time of the year.
How did this custom come about?
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XinHua News
Cultural activities held on 2nd day of Chinese Lunar New Year
Amazing winter scenery of Yellow Mountain
Located in southern Anhui Province, Mount Huangshan covers an area of 250 kilometers, of which 154 square kilometers are scenic attractions. Its landscape features "four wonders" of imposing peaks, spectacular rocks, odd-shaped pines, and a sea of clouds.
China Mei Tian
中国每天
Day to Day Photo Essays
about
Life in China
(We overcome the language barrier through Photos)
Every country is made up of mothers, fathers, children, sisters, brothers, aunts, uncles, grandparents, cousins, friends ...... different cultures, different languages, same people
We should celebrate the diversity rather than be threatened by it
Iran's Ahmadinejad says "We do not need to sell oil to Europe"
TEHRAN, Jan. 26 (Xinhua) -- Iranian President Mahmoud Ahmadinejad said Thursday Iran does not need to sell its oil to European countries, the semi-official Mehr news agency reported.
The European Union (EU) on Monday imposed further sanctions against Iran's oil exports as well as its central bank, a move aimed to ramp up pressure over the country's disputed nuclear program.
Wen urges countrymen to cherish development situation
DOHA, Jan. 19 (Xinhua) -- Visiting Chinese Premier Wen Jiabao on Thursday urged his countrymen here to cherish their hard-earned favorable development situation and continue to work on the ongoing development of China.
Wen, during a meeting with representatives from a number of Chinese cooperations, embassy staff and students, said that under the complicated and volatile international situation, China last year maintained its GDP growth of 9.2 percent.
The Chinese economy, hailed by many countries and economists as resilient, is quite capable of adapting to change, Wen said.
"We should cherish the hard-won favorable development situation and be confident of China's future development," the premier said.
The Chinese government has mapped out plans for "stable and relatively fast economic growth" in 2012, including the pursuit of stable commodity prices and maintaining a harmonious and stable society, Wen said.
China will accelerate its systemic transformation and upgrading, adjust its economic structure and shift the mode of development, the premier said.
China calls for caution in taking sanctions in int'l affairs
UNITED NATIONS, Jan. 19 (Xinhua) -- China's Permanent Representative to the UN Li Baodong said here Thursday that caution should be called for in metering out sanctions in international affairs.
Li made the remarks when addressing a Security Council open debate on the question of justice and rule of law.
Chinese premier's visit promotes friendly cooperation with Nepal, Arab countries
BEIJING, Jan. 19 (Xinhua) -- Chinese Premier Wen Jiabao's just-concluded visit has promoted friendly cooperation with Nepal, Saudi Arabia, the United Arab Emirates (UAE) and Qatar, Chinese Foreign Minister Yang Jiechi said Thursday.
During his four-nation tour in the past six days, Wen attended more than 40 bilateral and multilateral activities and delivered important speeches at the opening of the Fifth World Future Energy Summit in Abu Dhabi and the Fourth China-Arab Business Conference, Yang said.
Wen's activities have demonstrated China's sincere wish and firm resolve to enhance political trust and strategic cooperation with Arab nations and highlighted China's notion and policy measures to follow a path of green and sustainable development, he said.
China to continue support for Europe's efforts in solving sovereign debt issues
BEIJING, Jan. 17 (Xinhua) -- China here on Tuesday said it will work with the international community to continue support for Europe's efforts in solving sovereign debt issues.
China pledges to support Iceland's financial stability, economic growth
ABU DHABI, Jan. 16 (Xinhua) -- Visiting Chinese Premier Wen Jiabao said here Monday that China supports the efforts of European countries, including Iceland, to preserve financial stability and maintain economic growth.
Chinese premier calls for concerted global efforts to secure energy supply
ABU DHABI, Jan. 16 (Xinhua) -- Visiting Chinese Premier Wen Jiabao on Monday urged the world to work together to secure a safer and more stable and sustainable supply in the global energy market.
"To reduce the problems and inequality brought by the energy and resources issues, countries in the world should take further action and exert more effort," Wen said in his keynote speech at the opening of the 5th World Future Energy Summit (WFES).
He offered a four-point proposal to achieve the objectives.
Firstly, increasing energy efficiency should be put on top of the agenda to establish national economies that featured reduced energy input, lower energy consumption and less emissions.
Second, the development of renewable energy should be promoted by adopting more favorable policies to help expand the technological application in an effort to cut costs.
His third proposal was to actively promote new technologies to enhance efficiency. As long as intellectual property was properly protected, developed countries should help developing and under-developed countries to step up technology transfer endeavors, Wen noted.
Lastly, the premier urged countries to effectively safeguard energy security. To this end, Wen proposed establishing a global energy market management mechanism based on the principle of mutual benefit and within the framework of G20.
Chinese premier calls for end to violence in West Asia, North Africa
RIYADH, Jan. 15 (Xinhua) -- Visiting Chinese Premier Wen Jiabao on Sunday called for an end to violence against civilians in West Asia and North Africa.
The Chinese leader made the remarks during a meeting with Secretary General of the Organization of Islamic Cooperation Ekmeleddin Ihsanoglu in the Saudi capital.
Wen said China and the OIC shared common interests in safeguarding peace and stability in West Asia and North Africa, adding the OIC and the Arab League could play an important role in this regard.
Falling forex reserves, yuan funds trigger concerns of capital outflow, policy easing
BEIJING, Jan. 13 (Xinhua) -- China's central bank said Friday that the country's foreign exchange reserves as of the end of the fourth quarter last year had fallen to 3.18 trillion U.S. dollars, down 20.6 billion U.S. dollars from the previous quarter.
The net quarterly decrease was a rare case in recent years for the country, which is currently the world's largest holder of foreign exchange reserves.
China faces greater pressure to ensure energy supply in 2012: energy chief
BEIJING, Jan. 10 (Xinhua) -- China's energy chief said here Tuesday that the country is under greater pressure to ensure energy supply this year as both demand and international competition for resources grows.
Liu Tienan, head of the National Energy Administration (NEA), made the remarks when speaking at a national energy work conference.
"It is always worrisome to have to sustain supply of energy and resources for a country with 1.3 billion people," Liu said.
As China is facing a "grim situation" in energy saving and emission reduction, Liu noted, it is urgent to restructure the country's energy use and control the gross consumption volume this year.
To ensure a stable energy supply, China will optimize the layout of energy exploration, start construction of energy-transmission projects and other major energy programs while boosting reserves of oil, natural gas and coal in 2012, Liu said.
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Global Times
Chinese dragon waits for recognition
The Year of the Dragon is coming. China is growing into a "consumer dragon," but the spending volume during the Spring Festival is still far less than that of Christmas in the West, it is not treated as such.
What kind of dragon is China? It's a worrying question to ask, with implicit motives. Dragons only exist in fictional stories, but their image in the West is much worse than in China. It seems we can only hope to improve this image by bringing China to prosperity and democracy.
China has been forced to change its label of being "ambiguous." Some people predict that the tension over Iran and Syria, and the challenges facing the world economy will force China to voice its opinions more.
What they say is true to some extent. The world's second largest economy can never stay isolated, and it's not necessarily a bad thing to step onto center stage. As long as the Chinese society embraces its newfound position, it will quickly see the benefits of it.
China should not set too high a standard for itself, or fear making mistakes, as having a place on the world stage allows for some leeway.
What we should especially keep in mind is that China is the arriviste in the world club, and is destined to be teased or scorned by others, and we should therefore forget about "face."
We must get ready for economic loss in order to be tenable to stand up to our rivals, and flex our military muscles for that purpose. Only in this way will the world change for China.
This year, China is the most predictable among world powers. China's economic development faces mounting pressure, but the GDP growth will remain strong, while "surprises" during leadership change would be few.
China should become a tangible dragon. We should not pursue an impeccable image, but try to better ourselves as best as possible. China's true power comes from its sheer size, which is also a source of its headaches. There are no absolutes in China.
US actions make China-Russia alliance appealing
As US aircraft carrier groups gather in the Arabian Sea, a showdown between Iran and the West is rumbling on. If a war erupts, this will be another upshot of the US pursuit of absolute national security.
Mainstream forces in Washington are trying to sell a ludicrous standpoint to the American people: that it is worthwhile to bear financial costs and even lose some lives to confront lurking dangers to US security in the Middle East.
This is not a rational analysis, but rather a pious belief in US politics. With an appetite for national security causes, the US becomes increasingly meticulous in eliminating potential challenges.
The US has somewhat defused two powder kegs in the Middle East: Iraq and Afghanistan. It also helped bring the fall of Slobodan Milosevic and Yugoslavia. Now it is preparing for a potential confrontation with Iran, and appears confident of another successful air strike.
Such a demonstration of armed might makes powers like Russia and China increasingly nervous.
By stirring up other powers' sense of insecurity, the US is actually undermining its own interests. Its security paranoia instills many uncertainties into global dynamics and into the US itself.
If the West slides into a war with Iran, the damages will not be any lower than the potential threat of Iran's nuclear power.
Perhaps the US is used to resorting to war to solve geopolitical problems. But many worry that such a mentality will sooner or later lead to a US clash with Russia and China. So far Moscow and Beijing are relatively restrained, though NATO seeks to expand its strategic presence in East Europe and US strengthening its military alliances in Asia. But the two cannot fall back forever.
For Beijing and Moscow alike, ties with the US have been stressful. The two don't want to set off external doubts in their heated relations. But in both countries, an increasing number of people now advocate a Moscow-Beijing "alliance." The two do have countermeasures against the US, and they are capable of deterring US allies. If they are really determined to join hands, the balance of power on many world issues will begin to shift.
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CHINA
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News and Current Affairs
Cultural activities held on 2nd day of Chinese Lunar New Year
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Graeme has been using ChinesePod since 2007
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The Wall Street Journal
Feng Shui Analysis Foresees Volatility in Year of the Dragon
The index, which applies traditional Chinese astrology to market forecasting, predicts a volatile year (pdf). Though the Year of the Dragon is traditionally considered auspicious, there are likely to be countervailing forces at work, CLSA says. The reason: This particular dragon year is associated with water, which is far less lucky for investing than other elements like fire and metal.
See Kaixin's - Year of the Dragon 龙 (long)
Photos: Ringing in the Year of the Dragon
People around the world celebrated the beginning of the Lunar New Year and the start of the year of the dragon in the Chinese zodiac. See more photos of celebrations from around the world.
China Eyed as Next Educational Frontier
SHANGHAI—If there was ever a need for business schools in China, it's now.
Breakneck economic growth has far outstripped the supply of management talent. Meanwhile, Chinese companies in both the private and state sectors are responding to government incentives to "Go Out" and compete against the best companies in the world—while juggling fierce competition, rapidly changing technology and shifting macro-economic forces at home.
German Statesman the Inspiration Behind China’s State Control
Several panelists agreed emphatically. “What we need is reform-minded leaders and grassroots entrepreneurs, not a loose monetary policy and low interest rates,” said Zhang Weiying, a professor of economics at Peking University.
IMF Reviewing Whether Yuan Still 'Substantially Undervalued'
WASHINGTON -- The International Monetary Fund is reviewing whether China's currency should still be considered "substantially undervalued," as the yuan has appreciated more than 8% in the last year and the fund is developing a new method of assessing global currencies.
Davos: What Would You Do With China’s Foreign Exchange Reserves?
Mr. Lamy dismissed speculation that China would invest in European debt in return for some political or trade concessions by the European side, saying it is “media fluff-fluff” and that he doesn’t believe it “for one second.”
He added: “They don’t even do that with the U.S., they buy the U.S. debt without any condition.”
Davos: StanChart Bullish on China, India
Standard Chartered PLC remains bullish on the major Asian economies of India and China, encouraged by the policy outlook for the two countries this year, the bank’s Asia chief executive said.
China Dials Back Its Davos Presence in Holiday Week
BEIJING—China appears to have eased back on its presence at this week's World Economic Forum gathering in Davos, Switzerland, as the event coincides with the biggest Chinese holiday of the year.
China's Debt: You'll Grow Out of It
Objects in the rearview mirror are often closer than they appear at first. But in the case of the Chinese juggernaut, rapid economic growth means they are actually shrinking at a rapid rate.
China Chides EU Over Iran Ban
BEIJING—The Chinese government on Thursday criticized the European Union for banning oil imports from Iran, underscoring the difficulty the U.S. faces in creating a wedge between Iran and China, one of the largest buyers of Iranian crude.
China's Xi to Visit White House
BEIJING—Xi Jinping, the man widely expected to become China's top leader this year, will take his biggest step into the international spotlight Feb 14 when he meets President Barack Obama on his first official visit to the U.S. as vice president.
In Defense of China’s GDP Data
Is something wrong with China’s 2011 GDP data?
A solid outcome for China’s gross domestic product in 2011 – 9.2% growth despite fears of a sharper slowdown – has panda hunters reaching for their flamethrowers. Derek Scissors of the Heritage Foundation is leading the pack, suggesting that China’s numbers cannot be trusted.
Year of The Water Dragon: 12 Chinese Maritime Developments to Look for in 2012
China has now entered the Year of the Dragon. According to traditional geomancy, for the first time since 1952, the year will be associated with the element water. Sixty years ago, in the throes of the Korean War, Beijing could scarcely have been further from the water. Today, however, China’s shipyards are humming and the PLA Navy (PLAN) is sustaining operations half a world away in the Gulf of Aden.
Beginning with the major potential newsmakers, here are 12 key things to watch for and what they mean:
China Eyes Stimulus Targeted at Boosting Consumption
As China’s economy slows and key export markets look increasingly shaky, the government’s next move to ensure a soft landing will probably be fiscal stimulus aimed at spurring domestic consumption.
China Shops Around for Oil, Wary of Iran, Arab Spring
BEIJING—China signed billions of dollars in deals with key U.S. allies during its premier's visit to the Persian Gulf, forging ahead with long-term efforts to rely less on its traditional oil suppliers, including Iran—even as it publicly brushes aside U.S. and European pressure to cut its Iranian imports.
China Sees Drop in Property Prices
SHANGHAI—Property prices in 70 Chinese cities in a government survey fell in December from the previous month, marking the third straight decline after developers cut prices to boost sales amid Beijing's campaign to cool the property market.
Fidelity’s Bolton Reiterates Bullish Stance on China
Fidelity Worldwide International’s fund manager Anthony Bolton has had a rough run in Hong Kong, but he’s still bullish on China.
China Finds a New Route to India
India's economy rarely opens the front door to China. But New Delhi shouldn't be too concerned that China has found a new point of entry.
Chinese Put Money in Gold
Chinese consumers are loading up on gold ahead of the Lunar New Year. Is that demand strong enough to influence the metal’s price? The WSJ’s Deborah Kan speaks to Ken Brown in Hong Kong.
China Turns Predominantly Urban
Transfer of Millions to Cities Is Double-Edged Sword; Property Demand a Factor in Land Grabs
BEIJING—China has announced that people living in its towns and cities now outnumber those in the countryside, making it a predominantly urban nation for the first time in Chinese civilization.
China’s New Strategic Target: Arctic Minerals
As policymakers in Washington focus on China’s expanding presence in Africa and growing assertiveness in the South China Sea and Indian Ocean region, Danish diplomatic assistance is opening the gate for China to establish a strategic foothold in the Arctic.
Introducing: China Real Time’s China Econtracker
To save hours that would be spent navigating the maze of government websites, we present China Econtracker, an interactive tool for tracking the country's economic indicators.
China's Growth Engine Slows
BEIJING—China's GDP growth slowed to 8.9% in the last quarter of 2011, compared with a year earlier, showing that the world's fastest engine of growth is downshifting.
China Speeds Up Approvals for Foreign Investors
SHANGHAI—China accelerated approvals for foreign companies to invest in its domestic capital markets in December, taking another step forward in its campaign to inject much-needed confidence into a sagging domestic stock market.
China Reserve Changes Weighed
BEIJING—China may eventually invest more of its $3.2 trillion foreign-exchange reserves in stocks, enterprises and other assets as it looks for ways to boost returns on its reserves, according to Jiang Jianqing, chairman of China's largest state-owned bank.
City of Beijing to Continue Property Curbs
SHANGHAI—The Beijing municipal government will continue home-purchase restrictions this year to curb speculation and reduce prices, city mayor Guo Jinlong said Thursday.
Beijing house prices fell 11%, last year. Private house sales in the city fell 14% in the period. Close to 90% of homes sold in 2011 were to first-time buyers, Mr. Guo said in an annual work report to city officials.
There have been calls for the Beijing government to ease restrictions on home purchases by people who aren't permanent residents. The city does not allow home purchases by those who haven't paid social-security or income taxes for five consecutive years. Some had called for this requirement be reduced to three years but Beijing's vice mayor Chen Gang said that is "impossible," according to a Beijing News report.
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The New York Times
Jobs, Jobs and Cars
Gov. Mitch Daniels got so much wrong in his reply to the president State of the Union address. To really create jobs, it takes a cluster, not just heroes.
Apple, Electronics and Environmental Ills
Environmental groups say that while multinational corporations like Apple are trying to improve conditions, thousands -- or perhaps tens of thousands -- of smaller companies are cutting corners and dumping hazardous chemicals in rural areas and even near densely populated areas.
Daily Report: Chinese Factories and the iEconomy
The latest installment of the iEconomy series takes an inside look at the working conditions inside Chinese factories that make electronics. The authors say that inside Apple, the leader in the industry, there is an unresolved tension: executives want to improve conditions within factories, but that dedication falters when it conflicts with crucial supplier relationships or the fast delivery of new products.
How Obama's Tough Talk Plays in China
Chinese officials know that the president must address his opponents' claims that he has failed to stand up to Beijing, but that does not mean that they like it.
China's Hidden Wealth Feeds an Income Gap
An astonishing picture is building of extravagant, high-end Chinese spending that offers a glaring contrast to the hardscrabble, high-saving image of most Chinese. Where is all the money coming from?
Obama Gives China the Business
HONG KONG --- President Obama repeatedly attacked Chinese trade practices in his State of the Union speech Tuesday night in Washington. But with the exception of Myanmar, where Mr. Obama said "a new beginning'' was taking shape, most of the rest of Asia got no mention at all. No Japan, no India and neither Korea.
Apple, America and a Squeezed Middle Class
Building Apple’s iPhone in the United States would demand much more than hiring Americans — it would require transforming the national and global economies.
The Emerging Gilded Age
It is a season of doubt and fear in much of the West, as the relative decline of Europe and the United States seems more and more apparent. But, Chrystia Freeland writes, the current era of global prosperity owes its life to Western policies and technology. How much of China and India's success is rooted in the West?
For Intrigue, Malaria Drug Artemisinin Gets the Prize
A researcher’s award becomes part of the complicated history of a medicine inspired by Mao Zedong.
In Wukan, China, Protest Leader Is Made Party Boss
Despite the new political appointment in the local Communist Party, some villagers in Wukan say their grievances have yet to be addressed.
Wen Jiabao in Middle East as China Evaluates Oil Policy
The Chinese prime minister’s visit to Saudi Arabia, Qatar and the United Arab Emirates may suggest that China is reconsidering its strategic alliance with Iran.
Warming to U.S. Plea, Japan Pledges to Cut Oil From Iran
The move was in response to a request from the visiting United States Treasury Secretary, Timothy Geithner, who was rebuffed by China on the matter a day earlier.
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Will China help out the West in Sudan?
China is considered key to ending the 
crisis in the Horn of Africa as Sudan's President Omar al-Bashir in effect seeks US$15 billion for assuring the survival of his Western-backed, breakaway neighbor South Sudan. That is Bashir's price for keeping open the pipeline from the South that supplies 5% of China's oil imports. After doing the strategic math, Beijing will likely keep the book shut. - Peter Lee
European Union passes oil buck to China
By agreeing to close off Iran's second-biggest market, European foreign ministers have dramatically escalated the pressure on Iran to negotiate on its nuclear program. However, the immediate effect will be to pass the diplomatic initiative to Iran's largest trading partner, China, which will reluctantly become a powerful arbiter of the oil market and Iran's fate. - Phil Radford
China, Vietnam drift in South China Sea
Eight months after trading threats, China and Vietnam are now huddled in negotiations over claims to the South China Sea. With elements of a deal on the table, the full prestige of both politburos has been engaged, even though it's a high-stakes game for the countries' communist leaders. - David Brown
China's slowdown fears ease
Fears are easing that China's efforts to rein in inflation will drag down economic growth to dangerous levels, with expansion at the end of last year stronger than expectations. Further slowing is forecast, but a hard landing now looks unlikely. - Robert M Cutler
SINOGRAPH
Ma's re-election rings
loudest on the mainland
The re-election of President Ma Ying-jeou in Taiwan probably has more important consequences for Beijing than for the island. Political reunification is far in the future, but the political questions are on the agenda and de facto pressing Beijing's own political reforms schedule today.
- Francesco Sisci
China weighs 'right side of history' in Gulf
While a tour by Chinese Premier Wen Jiabao was solidifying political and energy ties with Sunni Gulf countries, Beijing was at the same time standing shoulder-to-shoulder with Shi'ite Iran over United States sanctions. That the Saudis invited Wen despite tensions with Tehran shows China's diplomatic hedging is paying off. Meanwhile, Washington's attempt to sanction a Chinese oil firm smacks of desperation.
- M K Bhadrakumar
Taiwan vote may trip up US and China
The United States and China share many reasons to hope Taiwan's President Ma Ying-jeou is re-elected in Sunday's elections. All the same, victory for the anti-unification Democratic Progressive Party's Tsai Ing-wen in the close race is unlikely to spur major policy shifts in Washington or Beijing. While Tsai is reluctant to roll back cross-strait relations, China has little incentive to punish the island.
- Jens Kastner
South China Sea: Call for US build-up
A think-tank with close ties to 
the administration of President Barack Obama has called for Washington to pursue a policy of "cooperative primacy" in the South China Sea to both avoid future conflict with Beijing and preserve freedom of navigation and the independence of smaller countries in the region. First though, the US needs to bolster its navy, the report suggests.
- Jim Lobe
SUN WUKONG
Hu warns successors
over 'peaceful evolution'
President Hu Jintao's call for China to resist ideological infiltration by "hostile forces" was widely seen as a declaration of war against Western culture, similar to spiritual pollution campaigns in the 1980s. However, Hu was actually warning those who will take power at this year's 18th Communist Party congress to stay awake to the greatest threat to communist rule - "peaceful evolution".
- Wu Zhong
Grim future for Wukan model
Optimism that China's land seizures, inequality and corruption could be solved by simply listening to activists rather than through suppression, as apparently happened in Guangdong's Wukan village, is undermined by pressures on local governments to contribute to the national growth rate. With land transactions accounting for at least half of revenues, regional administrations are unlikely to soon stop cracking heads. - Willy Lam
China's new role in the making of Europe
If China opts to support the eurozone it will become a significant investor in European integration, while helping to create a world where the United States dollar loses absolute pre-eminence. The level of Sino-European interdependence achieved during China's renaissance will likely accelerate as Europe better understands China's governance and as Beijing greater appreciates the complexities of the continent. - David Gosset (
Guangdong boss bets on velvet glove
Villagers from Guangdong's Wukan have welcomed the provincial authorities' decision to investigate land seizures that spurred attention-grabbing protests there. While local party chief Wang Yang hopes his handling of the case secures a Politburo Standing Committee seat at this year's leadership shuffle, his softer line is up against Chongqing party secretary Bo Xilai's more "ruthless" approach to crime and corruption.
- Kent Ewing
BOOK REVIEW
Invisible walls in Xinjiang
The tree that bleeds: a Uighur town on the edge
by Nick Holdstock
A snapshot of Xinjiang province's Yining city four years after deadly ethnic riots in 1997, this book provides insights into how fraught relations between Uyghurs and Han Chinese were worsened by Beijing's divisive rules and policies, particularly in education. The separate dormitories, canteens and admissions described as the ethnicities "pretend the other doesn't exist" make recent violence easier to understand. - Michael Rank
China sends a message to Nepal
The most recent manifestation of Nepal's political crisis is handwringing over the postponement of Chinese Premier Wen Jiabao's visit. Beijing's decision gives traction to the perception that the Nepalese government, under (India-educated) Prime Minister Baburam Bhattarai, is determined to strengthen relations with India - at China's expense if necessary. - Peter Lee
SINOGRAPH
China and Japan find
common ground
A significant monetary agreement between China and Japan could become a platform for political convergence. In the short term, the currency swap makes it easier for Beijing and Tokyo to help America and Europe. In the long term, a new regional order could be built around North Korea that sees Japan and the US become China's important strategic partners.
- Francesco Sisci
China rallies behind supreme leader
China's desire for a smooth power transition saw it swiftly back Kim Jong-eun following his father's death, with Beijing inviting him for a visit and urging Seoul and Washington not to promote regime change. China is not only concerned over instability causing a refugee influx, it also needs a Northeast Asian buffer against the United States' "return to Asia".
- Yvonne Su
Trying times in US-China ties
Both China and the United States enter 2012 fragile, needing one another to be strong while at the same time resenting the vestiges of strength each appears to have over the other (China bridling at America's regional position and military power while America resents China's seemingly stable economy). This is in a nutshell the peril: both have as much to gain from seeing the other stumble as from pursuing stability.
- Benjamin A Shobert
BOOK REVIEW
A future with China
China and the Credit Crisis: the Emergence
of a New World Order
by Giles Chance
The book explores the inter-connection between United States policy and China's participation in globalization. The presentation on what the current economic crisis means for the future of the US dollar and the necessary adjustment by the world's financial and regulatory systems to incorporate China's needs are balanced and satisfying. Yet the most important reason to read this work may be what it has to offer about how these troubled times will reshape US-China relations.
- Benjamin A Shobert
INTERVIEW
Getting the dragon onboard
The Chinese may have an attitude whereby they want to exploit the rest of the world for their own benefit. They do not see themselves yet as a responsible leader of the world economy. The issue is how can China be brought to stand alongside Europe and America? So asks Giles Chance, author of China and the Credit Crisis in a conversation with Benjamin A Shobert
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
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Caixin Online
- China's Fiscal Revenues Up in 2011
- China saw its fiscal revenues jump by 25 percent year-on-year, largely on land VAT revenue
- Emissions Get Set for a Speed Cleaning
- New emissions standards will require power plants to install nitrogen oxide scrubbers within two years but some experts argue results will hinge on technology requirements
- China's Labor Force Decreased in 2011
- China's share of working-age people has decreased for the first time since 2002, prompting some experts to suggest abolishing the one-child policy
- Shanghai to Spend 1.2 Bln Yuan on Airport Renovation
- Shanghai Pudong International Airport's terminal one will undergo refurbishment to increase passenger capacity from 20 million to 36.8 million people per year
- Liu Mingkang: Responding to the Challenges of 2012
- Interview with Liu Mingkang, former chairman of the China Banking Regulation Commission
- China Premier: Protect Farmers' Land Rights
- The Chinese government for the first time emphasized that urbanization and industrialization cannot come at the cost of farmers'land rights, a state expert said
- Forced Demolitions Getting Creative
- New rules last year set out to end forced demolitions, but local officials have instead resorted to legal loopholes to continue the controversial practice.
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How Britain and China will Rise or Fall Together
- As the world becomes increasingly interconnected, Sino-British engagement i
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- To take the next step in its development, China must commit to a broad range of structural reforms this year
- Gao Hua, Controversial Historian, Dies at 57
- The historian's major work the 1940s is still banned in the mainland for exposing the Communist Party's power struggles at the time.
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Soft Power and Hard Choices
- What tools do Chinese policymakers have on hand to counter the influence of U.S. cultural exports?
Strategize, Adapt, Reform
In an interview, the influential governor of China's central bank retraces 2011 economic policy steps and forecasts the 2012 pace
- Water Diversion Blues
- Rapidly growing cities need more water, and plenty of it – but experts say China faces a sobering outlook on the impacts of water diversion projects
- A Garment Industry in Tatters
- South Africa was once a good fit for Chinese clothing manufacturers, but wage issues are threatening their existence
- China to Put Brakes on Foreign Investment in Auto Sector
- The turnaround in preferential policies to promote foreign investment comes after the withholding of core technologies to Chinese companies, say analysts
- Policymakers Issue New Guidelines on Foreign Investment
- China revised its foreign investment catalog, making the first changes since October 2007
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- China is running a deficit in 'intellectual trade' with the United States and needs to make a greater effort to understand its partner and rival
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