Category Archives: News

China financial system “largely stable”: forex regulator

BEIJING, Jan. 9 (Xinhua) — China’s financial system is “largely stable” and foreign exchange reserves are “relatively abundant”, the State Administration of Foreign Exchange (SAFE) said Saturday.

The official remarks came after the Chinese yuan, under persistent depreciation pressure, dipped to a five-year low against the U.S. dollar this week.

The SAFE said in an online statement that it will further facilitate cross-border trade and investment, and continue to promote the yuan’s convertibility under the capital account in an orderly manner.

The administration will strengthen the monitoring of China’s balance of payments, and improve the management of foreign debt and cross-border capital flows.

The SAFE will also try to better operate and manage the country’s foreign exchange reserves.  Enditem

 

China’s textile industry starts to make overseas layout in line with B&R drive

BEIJING, Jan. 11 (Xinhua) — China’s textile industry has entered a new development phase by making overseas layout, according to the National Textile Industry Transfer Work Conference held last Friday.

“The Belt and Road Initiative has provided an unprecedented opportunity for China’s textile industry,” said Xia Lingmin, vice president of the China National Textile and Apparel Council (CNTAC), adding that China’s acceleration of overseas layout was the result of market option and efficiency priority.

“On the one hand, China’s textile enterprises have built processing bases overseas in a bid to reduce labor costs. On the other hand, some enterprises seek to establish multinational groups with global competitive edge by settling different links of the industrial chain in different countries,” explained Xia.

According to statistics released by the CNTAC, by the end of 2014, Chinese enterprises had set up over 2,600 textile manufacturing, trading and design enterprises in at least 100 countries and regions. In 2015, Chinese textile enterprises have accelerated its pace to “go out.”

China has been a big textile exporter for a long time. However, its textile industry has been dampened by the sluggish economic situation worldwide in recent years. Xia noted that “going out” was an important selection for the textile industry during the 13th Five-Year Plan period (2016-2020).  Enditem

 

China’s economy likely to bottom up in 2016, economist

BEIJING, Jan. 11 (Xinhua) — China’s economic growth is likely to touch the bottom and recover to 6.8 percent in 2016, said Li Daokui, director at of the Center for China in the World Economy (CCWE) at Tsinghua University.

Li said at the 26th quarterly forum of the CCWE that domestic consumption in China has started to recover in the second quarter of 2015 from around 10 percent to 11.2 percent. He expected the trend will continue in 2016 and help drive up overall China’s economy.

Li estimated China’s domestic consumption grew 10.7 percent in 2015 and the growth rate would reach 11 percent in 2016.

As China’s efforts to reduce production capacity and inventory gradually take effect, real estate investment is expected to bottom up. Moreover, stabilized commodity prices and recover in major world’s economies would help stable China’s export.

China’s fixed-assets investment may stand at 10 percent in 2016, taking predictions of investment in infrastructure, manufacturing industry and real estate into consideration, said Li.  Enditem

 

 

China financial system “largely stable”: forex regulator

 

BEIJING, Jan. 9 (Xinhua) — China’s financial system is “largely stable” and foreign exchange reserves are “relatively abundant”, the State Administration of Foreign Exchange (SAFE) said Saturday.

The official remarks came after the Chinese yuan, under persistent depreciation pressure, dipped to a five-year low against the U.S. dollar this week.

The SAFE said in an online statement that it will further facilitate cross-border trade and investment, and continue to promote the yuan’s convertibility under the capital account in an orderly manner.

The administration will strengthen the monitoring of China’s balance of payments, and improve the management of foreign debt and cross-border capital flows.

The SAFE will also try to better operate and manage the country’s foreign exchange reserves.  Enditem

 

 

 

 

China’s textile industry starts to make overseas layout in line with B&R drive

BEIJING, Jan. 11 (Xinhua) — China’s textile industry has entered a new development phase by making overseas layout, according to the National Textile Industry Transfer Work Conference held last Friday.

“The Belt and Road Initiative has provided an unprecedented opportunity for China’s textile industry,” said Xia Lingmin, vice president of the China National Textile and Apparel Council (CNTAC), adding that China’s acceleration of overseas layout was the result of market option and efficiency priority.

“On the one hand, China’s textile enterprises have built processing bases overseas in a bid to reduce labor costs. On the other hand, some enterprises seek to establish multinational groups with global competitive edge by settling different links of the industrial chain in different countries,” explained Xia.

According to statistics released by the CNTAC, by the end of 2014, Chinese enterprises had set up over 2,600 textile manufacturing, trading and design enterprises in at least 100 countries and regions. In 2015, Chinese textile enterprises have accelerated its pace to “go out.”

China has been a big textile exporter for a long time. However, its textile industry has been dampened by the sluggish economic situation worldwide in recent years. Xia noted that “going out” was an important selection for the textile industry during the 13th Five-Year Plan period (2016-2020).  Enditem

 

RMB rate to depend more on basket of currencies: PBOC economist

   BEIJING, Jan. 11 (Xinhua) — The Chinese yuan’s exchange rate will be determined with more reference to a basket of currencies, as it faces persistent depreciation pressure against the U.S. dollar, according to a senior economist with the central bank on Monday.

“Giving more consideration to a basket of currencies means the RMB’s value will be kept basically stable against the whole basket,” said Ma Jun, chief economist of the People’s Bank of China’s research bureau.

“That will be the keynote of the yuan’s exchange rate formation mechanism in the foreseeable future,” he said.

China will guide the market to form a yuan/dollar rate, so as to help stabilize the yuan’s value against the currency basket, said Ma.

“The central bank will ask market makers to consider the yuan’s stability against the currency basket when reporting their central parity quotes to the China Foreign Exchange Trade System,” he said.

The yuan’s value will be increasingly stable against the currency basket, while the yuan/dollar rate will fluctuate wider in a two-way manner, rather than in a single direction, Ma predicted.

When investors understand the basket-based exchange rate formation mechanism, short selling of the yuan will decline, according to him.

“The yuan’s exchange rate is currently not pegged to the U.S. dollar nor is it allowed to float in an unchecked way,” he said.

“We will introduce a mechanism to properly limit daily yuan/dollar rate fluctuation,” said Ma.

Giving stronger consideration to a basket of currencies will not hurt the Chinese government’s autonomy in making monetary policies, he said, adding that the yuan’s rate will not be strictly pegged to the basket.

Ma’s remarks came after the Chinese yuan, under persistent depreciation pressure, dipped to a five-year low against the greenback last week.  Enditem

 

 

China to continue to have abundant labor force: official

BEIJING, Jan. 11 (Xinhua) — China will have an abundant labor force for decades to come, though its overall quality needs to be improved, said a senior official with the National Health and Family Planning Commission (NHFPC) on Monday.

Wang Pei’an, deputy head of the NHFPC, said at a press conference that in 2015, China had a labor force of one billion, which is expected to slip slightly to 958 million in 2030.

According to the official, the labor force is estimated at around 827 million for 2050.

Therefore, the challenge for the nation in the next few decades lies not in the size of the labor force but in its quality, said Wang.

Wang highlighted the nation’s need to allow all couples to have two children.

The new family planning law took effect on Jan. 1, ending the one-child policy that had been in place for decades.

He said the timing for the new policy is good, considering the trend of a declining labor force,  and rising demographic dependency ratio, which rose from 34.2 in 2010 to 36.2 in 2014, in addition to the population of child-bearing women, which has dropped from the peak of 380 million in 2011.  Enditem

 

 

Beijing to ease entry, residence policy for overseas talent

BEIJING, Jan. 12 (Xinhua) — The Ministry of Public Security (MPS)announced on Tuesday it will ease rules for foreign talents to enter and exit Beijing, and provide favorable terms to acquire permanent residence.

The MPS will run the pilot program in Beijing’s Zhongguancun Science Park to provide convenience for foreign talents such as special offices for permanent residence examination and approval, streamlined approval procedures and more favorable conditions for foreigners with doctorate degrees or above to get a Chinese green card.

The new regulations will also allow short-term internships in Beijing for foreign students and permit them to run their own start-ups in Zhongguancun.

Foreign tech and senior management talents are also encouraged to join China’s creative companies and file application to get permanent residence, the MPS said.

The MPS said it will help the Beijing municipal government launch a “Transit Without Visa” project for certain foreign nationals to stay in Beijing for no more than 144 hours without an entry visa.

The new regulations, scheduled to take effect on March 1, are aimed at promoting Beijing’s soft environment for innovation and start-ups, the MPS said.  Enditem

 

 

China-initiated development bank to be highlighted at 2016 Davos meeting

BEIJING, Jan. 13 (Xinhua) — China-related topics, the recently launched Asian Infrastructure Investment Bank (AIIB) in particular, will be among the major highlights of this year’s World Economic Forum (WEF) annual meeting to be held next week in the Swiss town of Davos.

AIIB President-designate Jin Liqun is scheduled to speak on infrastructure construction in Asia during the four-day meeting, probably his first appearance at a global forum since the official establishment of the China-initiated institution on Dec. 25, 2015.

David Aikman, chief representative officer of Greater China and managing director of the WEF, said the launch of the AIIB shows China’s increasing role in leading and innovating institutions to address the trillion-dollar infrastructure gap around the world.

“China has a lot to bring in terms of experience with the large-scale infrastructure projects and really has an opportunity to innovate,” he told Xinhua. “I think the world wants to hear and interact with those leaders.”

Aikman also said that policymakers from Latin America and Africa will be interested in coming to the forum and understanding infrastructure investment in the Asian context.

The inauguration ceremony of the AIIB, a complement to existing international financial system, is scheduled on Saturday. The bank now has 57 members and will finance infrastructure — airports, mobile phone towers, railways and roads — in Asia.

More than 2,500 participants from over 100 countries will attend the 46th WEF annual meeting, scheduled between Jan. 20 and Jan. 23. A senior delegation from the Chinese government is expected to attend the meeting.

Themed “Mastering the Fourth Industrial Revolution,” this year’s WEF annual meeting will also focus on security and other global issues.  Enditem

Traditional Chinese medicine hospitals on the increase

BEIJING, Jan. 14 (Xinhua) — The number of traditional Chinese medicine (TCM) hospitals in China has increased by 500 in five years, a rise of 15.5 percent, a TCM official said on Thursday.

Meanwhile, the number of TCM outpatient departments and clinics increased by 531 and 5,890, said Wang Guoqiang, director of the State Administration of TCM at the 2016 national TCM meeting.

In 2014, there were 530 million visits to TCM hospitals, accounting for 17.9 percent of total hospital visits across the country, Wang said.

In addition, the TCM industry became a 730 billion yuan (110.8 million U.S. dollars) industry in 2014, representing one third of the total industrial output of China’s medical industry.

The import and export revenues for the TCM industry amounted to 4.63 billion U.S. dollars in 2014, according to Wang.

China has been promoting the modernization of TCM and has been pushing for TCM to be accepted and popular worldwide. Tu Youyou’s winning the Nobel Prize with a TCM-based anti-malarial drug served as a boon to the industry.  Enditem

 

China doesn’t restrict forex sales to individuals: regulator

BEIJING, Jan. 13 (Xinhua) — The State Administration of Foreign Exchange (SAFE) said Wednesday it does not limit foreign currency sales to individuals, although China faces dropping forex reserves.

SAFE denied media reports that Chinese banks put restrictions on foreign currency sales as many people are buying the U.S. dollar, which has been appreciating against the yuan.

As usual, everyone with an ID card can freely buy foreign currency worth 50,000 U.S. dollars every year from Chinese banks, according to SAFE, and those with proper reasons can buy more.

China’s foreign exchange reserves fell by 107.9 billion U.S. dollars in December to 3.33 trillion at year end, the lowest level in more than three years.

The December decline, the sharpest monthly fall on record, was partly due to an interest rate hike last month by the U.S. Federal Reserve and possible future rises as capital flowed out of China for higher returns.  Enditem

FDI rises 6.4 pct despite slowing economy

 

BEIJING, Jan. 14 (Xinhua) — Foreign direct investment (FDI) into the Chinese mainland maintained steady growth in 2015 despite the economic slowdown in the world’s second-largest economy.

FDI, which excludes investment in the financial sector, rose 6.4 percent year on year to 126.27 billion U.S. dollars in 2015, the Ministry of Commerce (MOC) said on Thursday.

Investment in the country’s burgeoning service industry continued robust growth, accounting for 61.1 percent of total flows during the period.

FDI in the manufacturing sector came in at 39.54 billion U.S. dollars, accounting for 31.4 percent of the total. Flow to high-tech manufacturing gained 9.5 percent to 9.41 billion U.S. dollars.

The MOC attributed the growth to the government cutting red tape around investment approvals and accelerating construction of free trade zones.

Foreign mergers and acquisitions in China increased sharply, with their share of total FDI surging from 6.3 percent in 2014 to 14.1 percent in 2015.

The Chinese economy expanded 6.9 percent in the first three quarters of 2015, the lowest reading since the second quarter of 2009.

China is due to release annual growth data next Tuesday.  Enditem

 

 

Swedish Spring Film Premiere 2016 held in Stockholm

STOCKHOLM, Jan 13. (Greenpost)–Swedish Spring Film Premiere 2016 was held on Monday in Stockholm.

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Kristina Börjeson, Head of Film Support speaks at the opening.

IMG_9852Kristina Börjeson,  Head of Film Support said that since the beginning of the 1990s, Swedish government has decided to support film production in the country. The funding almost all comes from the Film Support. For example 12 of the 16 films are supported by Swedish Film Support.  Directors can apply for many kinds of subsidies to produce films. There has always been a great enthusiasm in making films in Sweden.

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Erik Gandini directed The Swedish Theory of Love which was also screened in the International Film Festival in Stockholm in November.

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Suzanne Osten directed The Girl, Mother and Demons describing a lonely and psycologically problematic mother with her daughter who is just 7 years old.  Esther Quigley is seen as a young star.

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Linda Hambäck, director of Bajsfilmen-Dolores och Gunnellens värld said this was the first time she directed a film wholly by herself.  She was South Korean origin and adopted by Swedish parents.

 

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“I have got some flavor of my own background in the film, it’s about friendship. When one of the two friends wants to go outside world, the other was almost mad,” said Linda Hambäck to Green Post.

IMG_9938In the film, she shows one girl with western face and the other with an Asian face.

Famous TV host Cecilia Nilsson was the MC of this premiere.

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Another film aroused our attention was The last Generation. It is about Sami culture and Sami people.  Petri Storlöpare who directed the film told Green Post that he lived around many Samis.  He was born in Finland but lives in Sweden all his life.  He was luckily able to follow the main charactor in the film for a year to experience his life as a reindeer herdsman.

He wanted to show the sami people, sami culture and hope that they will not disappear so soon.

A  lot of funds were invested in promoting sami culture during the 2014 European Cultural Festival.

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CREW of Rubbish Helicoptor were interviewed by Cecilia.

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Similar documentary about Swedish famous singer and her colleague famous singer BABs  was also screened.IMG_9913

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Cecilia Nilsson, Petri Storlöpare.

Another film aroused our attention was The last Generation. It is about Sami culture and Sami people.  Petri Storlöpare who directed the film told Green Post that he lived around many Samis.  He was born in Finland but lives in Sweden all his life.  He was luckily able to follow the main charactor in the film for a year to experience his life as a reindeer herdsman.

IMG_9960He wanted to show the sami people, sami culture and hope that they will not disappear so soon.

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Henrik Andersson talks about his daily life as a sami.

A  lot of funds were invested in promoting sami culture during the 2014 European Cultural Festival.

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This was a very heavy film describing relationship between father and daughter.IMG_9995Sixteen films were introduced during the spring film premiere.

Photo/text   by Xuefei Chen Axelsson

Relationships between parents and small children

Stockholm, Jan.13(Greenpost)–Statistics show that 30 percent of all parents of young children in Sweden separate.

Researchers at the University of Gothenburg have mapped the most important factors behind the separations and divorces – and offer five tips that can save the relationship. 

 According to 2012 statistics from Statistics Sweden, one out of three Swedish couples that have small children get separated. The average age of the first child at the time of the separation or divorce is 4 years and 8 years.

In a study at the Sahlgrenska Academy of the University of Gothenburg, 452 parents answered a scientific questionnaire that measures relationship quality in five different dimensions:

Consensus,  Cohesion, Satisfaction, Sensuality and Sexuality. The questionnaire was answered at three occasions, when the first child was 6 months old, 4 years and finally when the child was 8 years old.

Of the respondents, 23 couples had separated after four years, and after eight years, another 16 had separated. In the study, the researchers measured the separated parents’ relationships quality before they went separate ways, and compared the results with those who still lived together.

The study found certain similarities:

“When the child was 4 years old, both sexuality and sensuality were at constant low levels both among the couples who separated and those who had not,” says Malin Hansson, doctoral student at the Sahlgrenska Academy.

The largest statistically significant differences were seen in the dimensions of Satisfaction,  Consensus and  Cohesion: when the child was 6 months old, the separated respondents agreed less about different matters, they were less satisfied with the relationship, and felt less togetherness and lower quality in their sexual lives compared with those who did not separate.

The study showed that the risk of separating was twice as high among co-habitating partners as married spouses. A low level of education and unemployment were also risk factors (which agrees with Statistics Sweden’s statistics from 2012).

Using the parents’ answers to the question “What factors do you think contributed to your current situation (both positive and negative)?”, the Gothenburg researchers were able to formulate seven factors that contribute to separation. They were: strains from parenthood, stressful conditions,  lack of intimacy, insufficient communication, differing personalities and interests, no commitment (in the relationship), and negative effects of addiction.

“If you were to generalize, you coud say that the separated fathers wanted to have more time for themselves, while the mothers wanted more time together with both their partner and with their children,” says Malin Hansson:

“It is not always bad that parents separate. But there are “unnecessary divorces” that are a result of communication problems or a temporary downturn in the relationship, which could be avoided with more support. The healthcare system also has a responsibility here. Healthcare staff come into contact with most prospective and new parents, and should take on the task of supporting them in the relationship by for example emphasizing the importance of sharing responsibility for the home and the children, arranging relief and emphasizing the importance of maintaining sensuality and a shared sex life.”

The article Factors contributing to separation/divorce in parents of small children in Sweden was published online in Nordic Psychology in October.

China plans more cross-border e-commerce zones

BEIJING, Jan. 6 (Greenpost) — China will set up more cross-border e-commerce pilot zones, the State Council announced Wednesday.

The zones will attract businesses, help create jobs and nurture new business models to boost foreign trade and stimulate the economy, according to a statement released after an executive meeting of the council chaired by Premier Li Keqiang.
They will be built in cities in China’s east, center and west that have good infrastructure and a good trade and e-commerce base.
The move follows the approval of the Hangzhou cross-border e-commerce pilot zone in March last year, which is based on open information sharing between businesses, financial institutions and regulators, one-stop online financial services, smart logistics and open e-commerce credit systems.
Efficient services will help businesses cut costs, said the statement.
Following its inspections last year, the State Council cited 50 provincial regions, cities, districts and counties for good work in shantytown renovation and other major projects and promised them policy support and funding.
However, it also said more than 900 officials have been punished for inaction found in the inspections.  Enditem

 

Top story: China scraps approvals for first, second children

BEIJING, Jan. 5 (Greenpost) — A Chinese couple can have two children if they like, according to a new policy.

China on Tuesday stopped requiring couples to apply for official approval before having a first or second child, following the abolition of the one-child policy.

The news came out last year, many thought they still need approval to have a second child the same as when they have the first one.  But the truth is that they don’t need any approval for a second one.

The move, which entered effect immediately, was announced by the Communist Party of China (CPC) Central Committee and the State Council.
They said the approval system will be replaced by birth registrations for couples’ first and second children.
All Chinese couples have been allowed to have two children since Jan. 1, after the national legislature amended its family planning policy in late December.
A document released by the CPC Central Committee and the State Council said the nation is aiming to improve its services for women and children in both urban and rural areas.
It also called for intensified efforts to monitor and predict growth in the number of newborns.
The family planning policy was introduced in the 1970s. In 1980, the government started limiting most couples to one child. The grip gradually relaxed in the following decades. For example, rural couples were allowed to have two children if the first was a girl.
In 2013, China allowed couples to have a second child if either parent was an only child.
Tuesday’s document said the family planning policy was effective in curbing alarming growth in the nation’s population, reducing pressure on resources and the environment.
The one-child policy is estimated to have prevented 400 million births.  Enditem

Editor     Xuefei Chen Axelsson