Category Archives: Indepth

China Focus: Factory slowdown shows signs of stabilizing

China Focus: Factory slowdown shows signs of stabilizing

    BEIJING, June 23 (Xinhua) — China’s factories did better last month, a preliminary HSBC survey showed on Tuesday, though overall manufacturing activity still contracted slightly.

The HSBC flash manufacturing purchasing managers’ index (PMI) recovered to 49.6 in June from May’s final reading of 49.2, beating market forecast of 49.4.

The figure is a notch below the 50 point level that separates growth in activity from contraction indicating that manufacturers remain pessimistic, but those hoping for signs of stabilization in China’s flagging economy may find some relief in Tuesday’s report.

A breakdown of the survey results showed the sub-indices of output, new orders and quantity of purchases all improved in June. The index of new orders rose above the 50-point mark for the first time in four months.

The sub-index of employment, however, showed manufacturers continuing to cut their staff, with the latest reduction the sharpest in over six years, indicating relatively muted growth expectations as demand both at home and abroad remains subdued, Markit economist Annabel Fiddes said.

“The data adds to evidence that the sector has lost growth momentum in the second quarter as a whole, and suggests that the authorities may step up their efforts to stimulate growth and job creation in the second half of the year,” Fiddes said.

Tuesday’s reading is not the only one to suggest that authorities may open their tool box again; much recent data has missed market expectations.

Weighed by unsteady global demand, stuttering domestic investment and a weak property sector, China’s economic growth fell in the first quarter to 7 percent, its lowest level in six years.

The central bank has cut benchmark interest rates three times since November and lowered banks’ reserve requirement ratio (RRR) twice since February.

“Interest rate and RRR cuts to date could lift real fixed asset investment by around 2.4 percentage points, but this is not enough to stabilize growth at around 7 percent,” Qu Hongbin, chief China economist at HSBC said in a Tuesday report.

Qu expects a 50 basis point interest rate cut and a 250 basis point cut in the RRR in the rest of the year, with intensified fiscal support, more municipal bond issues and mobilization of fiscal funds. As the effects of these easing policy filter through, growth could pick up in coming months, he said.

China’s central bank economists are cautiously optimistic, expecting a modest recovery in sequential growth in the second half of the year. The economists lowered their growth forecast to 7 percent for 2015, from previous 7.1 percent, reflecting the headwinds faced by the economy. Endite

China Focus: Chinese shares in biggest weekly drop since 2008

China Focus: Chinese shares in biggest weekly drop since 2008

BEIJING, June 19 (Greenpost) — Chinese shares plummeted on Friday, with the benchmark Shanghai Composite Index down 6.42 percent to finish at 4,478.36 points.

The Shenzhen Component Index lost 6.03 percent to close at 15,725.47 points.

The major Shanghai index dived by 13 percent from the previous week, in the biggest weekly drop in seven years. Nearly one thousand shares on the two bourses slumped by the daily limit of 10 percent.

During Friday’s trading, losers outnumbered winners by 903 to 25 in Shanghai, and by 1,295 to 96 in Shenzhen.

Combined turnover for the two bourses shrank to 1.29 trillion yuan (210.23 billion U.S. dollars) from Thursday’s 1.5 trillion yuan.

Stocks relating to nuclear power, transportation, medical care, online education, mobile games and reform of state-owned enterprises were the biggest losers.

Guangzhou Baiyun International Airport Company dived by the daily limit of 10 percent to close at 17.77 yuan per share. Shanghai Electric Group Company lost 9.98 percent to end at 17.23 yuan.

The ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, dived 5.41 percent to end at 3,314.98 points.

Analysts attributed the plunge mainly to four factors. Firstly, new listings of stocks, especially large-cap shares have kept drawing money away from the market.

On Thursday, Chinese securities trader Guotai Junan Securities Co., Ltd. became the largest domestic IPO in nearly five years after launching on the Shanghai Stock Exchange. The company will sell up to 30.1 billion yuan (4.92 billion U.S. dollars) at 19.71 yuan per share, according to its IPO prospectus filed with the Shanghai Stock Exchange on Tuesday.

Secondly, market regulator the China Securities Regulatory Commission (CSRC) last week banned illicit loans for stock purchases, and announced that margin trading outside the brokerage system would be strictly punished. It is estimated that the move will prevent around 500 billion yuan from entering the market.

Thirdly, companies need to settle their account balance and complete payment to banks in the middle of the year, resulting in a shortage of funds and hence the fall of the major index.

Last but not least, the stock market has posted dramatically large gains since the beginning of the year, with the ChiNext Board index rising 170-percent rise at its peak without a proper callback, until the current correction comes.

Analysts warned that the biggest threat to the market is the high-rate rise, and the current nosedive could help release accumulated risks.

The Chinese stock market has seen an impressive rebound since the second half of 2014 after being stuck in the doldrums for about six years.

The major Shanghai index closed at fresh seven-year highs for several consecutive days last month, before posting another nosedive on record turnover on May 28.

On June 5, the major Shanghai index surpassed the 5,000-point landmark for the first time in over seven years, jumping to 5,023.1 points. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

Commentary: Suu Kyi’s China debut underscores common wish for better ties

Commentary: Suu Kyi’s China debut underscores common wish for better ties

Stockholm, June 10 (Xinhua) — Myanmar opposition leader Aung San Suu Kyi is set to start her first visit to China on Wednesday.

In the past few days since the Communist Party of China (CPC) announced Suu Kyi’s acceptance of an invitation to visit China, there has been some excitement among observers of China-Myanmar relations, and it is believed the debut trip underscores a common wish of the two nations to improve ties.

As is known to many, the CPC communicates not only with foreign political parties that adopt the same ideology, but also those with a different political vision.

The invitation extended to Suu Kyi is a proof that the CPC stands ready to engage with any political parties as long as they are willing to promote the sound development of relations with China.

Since 2010, the China-Myanmar relations have witnessed some disturbances, with several key cooperation projects, including a water dam and a copper mine, being brought to a standstill.

The two countries have made progress in addressing these undesired events and both sides have the will to keep things going that way. After all, neither side wants to ditch the friendship that has been there for decades in the face of a few challenges.

As an important politician in Myanmar, Suu Kyi must have a very thorough understanding of the special bond between the two countries, as shown by the famous comparison she drew: not like married couples who could always get a divorce if they do not get along, nothing can be done to change the fact that China and Myanmar are each other’s neighbor.

In its dealings with neighboring countries, China, as a regional economic powerhouse and vital facilitator for development, has adhered to the principles of mutual benefits and win-win cooperation.

China welcomes anyone with friendly intentions and it bears no grudge for past unpleasantness.

It is hoped the upcoming visit by Suu Kyi will enhance mutual understanding and promote cooperation and friendly relations between China and Myanmar.

There is also a reminder: China has no intention to interfere in Myanmar’s internal affairs, but is determined to protect its citizens from being caught in a war launched from the other side of the border.

Myanmar has to honor its commitment to safeguarding security and stability on the China-Myanmar border and do the utmost to avoid incidents such as stray bombs on Chinese soil. Enditem

 

When the Prince got married, what did the King say

     When the Prince got married, what did the King say

 

Stockholm, June 14, (Greenpost)–Swedish Prince Carl Philip and Sofia Hellqvist got married on Saturday, 13 of June, 2015.

What did the King said at the wedding banquet?

H.M. the King’s speech to the married couple, 13 June 2015

To the Bride and Groom,

Finally, we are celebrating your wedding, Sofia and Carl Philip!

Today, we have witnessed your fine ceremony, heard the loving marriage vows you made to each other and listened to the joyous peals of bells which began the ceremony where ‘two shall become one flesh’.

And, my dear son, it is a particularly wonderful feeling to be able to celebrate your love for each other here, in the palace where you were born, dear Carl Philip.

Your mother and I are immensely happy to share this important day with you.

This is a moment you have both been longing for, have put so much energy into, and have planned so carefully to give it your personal touch and it will remain a very special memory all your lives, for the two of you and for all of us.

You have a wide range of interests, curiosities and abilities in many areas. You are a versatile, curious person, evidenced not least in the broad education you have acquired.

Following your military service as boat commander in Vaxholm’s Amphibious Battalion, you continued your training to become an officer. You have since risen through the ranks and are now a major.

You completed a course in graphic design and advertising at Forsberg skola. Your most recent achievement is a University Diploma in Agricultural and Rural Management, following your studies at the Swedish University of Agricultural Sciences in Alnarp.

You have succeeded in all these areas – not forgetting to include your artistic endeavours. For example, I am thinking of your celebrated photographic exhibition of the Botanical Gardens in Uppsala to commemorate the tercentenary of Carl Linnaeus, plus your time at Rhode Island School of Design in the USA.

The school held a competition to create the best new logo for Martha’s Vineyard Museum, which you won with your proposal that had been submitted under a pseudonym.

Your wide range of accomplishments is a link to interests and professions that have held an important place in our family for many generations. But you have forged your own path; and done so in your own way. You have worked hard and purposefully to achieve these excellent results – and as your father, I am very happy and proud.

You and I have many similarities. For example, we share a passion for sport, and have almost the same talents. Neither of us are shining stars on the tennis court, and we are hardly well-known for our ball skills either.

But put us on skis or round a running track and we are in our element. And I discovered these parallels fairly early on. One day – you were around eight or nine – I was about to head out for a run in the grounds at Drottningholm. Before I knew it, there you were – the laces of your running shoes already tied, waiting for me.

You wanted to come running too! So you did – and we ran many miles together. Of course, until the day came that you out-paced me!!

You have brilliantly taken on the role of my uncle, your godfather, Prince Bertil as a car lover. Not only is it fun, but it also has another claim: it gives me a cast-iron fatherly excuse to go to race events!

Your interest in food is extensive, going all the way from field to fork. We also share this passion, but so far it’s only me who has membership ‘plate’ number 17 in the Swedish Gastronomic Academy, as your godfather had before me.

I am also glad to share your commitment to forestry, agriculture and the environment, including the Stenhammar estate.

All this is also a great asset when you help me in representing Sweden. As Head of State, I want to thank you specially for the work you do serving this country.

I would also like to take this opportunity to highlight one of your personal qualities that everyone in Sweden recently got to see – your courage. It was incredibly courageous of you to talk about your reading and writing difficulties, and thereby raise awareness in this field. This means a lot to hundreds of thousands of others in the same situation, in particular children and young people, and not least to me.

You also demonstrated courage during a night dive where you saved a situation that could have ended very badly indeed. You and your dive group found yourselves in a cave, when vision suddenly became badly impaired. With your courage, knowledge and calm leadership, you took charge of the situation and linked arms with your colleagues to lead them out to safety. This incident is typical of you and your character. Carl Philip, you are a great role model for many people.

Sofia, I want to give you a very warm welcome into our family. We have got to know you as a warm, secure and open person. You are dedicated, enterprising and also very thoughtful. You show genuine care for other people.

You have worked as a volunteer and an aid worker in many African countries. It is very impressive how you set up Project Playground, which establishes important initiatives for children and young people in Cape Town.

You will also greatly benefit from all of this in your new role as a princess of Sweden. We are proud of you!

And when I think about it, Carl Philip and I also have a similarity here – that we have each succeeded in finding the perfect, most fantastic woman to share our lives.

It really is striking, just how much happiness and togetherness that you, Sofia and Carl Philip have found in each other. It is genuinely pleasing to see how you both bring out the best in each other. How you cooperate and complement each other, and how you support each other – in both the big and little things.

I would also like to warmly welcome the Hellqvist family into our family. Through Carl Philip’s and Sofia’s love for each other, new bonds of friendship are also formed.

To the Bride and Groom – today is the new beginning of your lives as husband and wife.

‘For this reason a man shall leave his father and mother and be joined to his wife, and the two shall become one flesh.’ As it is written.

From today, your loyalties should rest first and foremost to each other.

It is not always easy for a father to get used to that thought – and neither for your mother too, come to that.

But this is how it should be.

Carl Philip and Sofia: All of us here today can see the love and solidarity you have towards each other.

A fantastic atmosphere has been created both in the Royal Chapel and here in Vita havet, the White Sea Ballroom. Let this atmosphere sink in now, keep it with you always and think of it in your day-to-day lives as a married couple.

Follow Paul’s Epistle to the Romans, as we heard in the Royal Chapel today, to outdo one another in mutual respect.

To the Bride and Groom. Take care of each other and the joint life you are now beginning to build.

We, your family and friends, wish you the greatest of luck and prosperity!

I now ask everyone in the room to join me in congratulating the couple and giving a toast.

[All guests:] “De leve! Hurrah! Hurrah! Hurrah! Hurrah!”

Source  Swedish Royal Family website.

Editor  Xuefei Chen Axelsson

China to invest RMB17 trln in environmental protection in 2016-2020 中国将在13五期间投入17万亿元用于环境保护

China to invest RMB17 trln in environmental protection in 2016-2020

Stockholm, June 10 (Greenpost) – China is estimated to invest over 17 trillion yuan in environmental protection in 2016-2020, according to Chinese Academy for Environmental Planning.

China’s Ministry of Environmental Protection (MEP) would focus on improving environmental quality in compiling national environmental protection plan for 2016-2020, which is expected to be submitted to the State Council for approval in March 2016.

The new five-year plan would add targets on improvement of environmental quality beside existing targets on cut or control of overall emissions, said a report by Economic Information Daily on Wednesday.

The environmental protection plan would involve green economy, nuclear safety, soil protection, biological protection as well as prevention and treatment of water pollution.

China would introduce amount control mechanisms over newly-added industrial smoke and dusts, volatile organic compounds (VOCs), total nitrogen and total phosphorus in 2016-2020. (Edited by Liu Yanan, liuyn@xinhua.org)

Source  Xinhua

Editor  Xuefei Chen Axelsson

My Splendid Experiences in New Zealand

http://english.cri.cn/messenger/list/200405.pdf

By Chen Xuefei

F rom March 2003 to April 2004, I stayed in New Zealand as a visiting scholar. It’s hard to describe my feelings and experiences over there. If I have to describe the place in one word the first thing that pops into my head is “beautiful”. But clearly, that‟s not enough: the longer I think about it the more I realize that a single word doesn‟t really do it justice, and it at least needs to be modified. “Absolutely beautiful” is what I‟ll leave you with for the time being. And the Kiwi people are very nice as you can always hear a “hello” even you just meet them in the street. The following are a few segments of my unforgettable experiences in New Zealand.

Beautiful Campus in A Beautiful City

It was a rainy morning when I arrived on the campus. I stood in front of the University of Canterbury‟s Students’ Union Building waiting for Head of Department Jim Tully to pick me up. I was stunned by the beautiful trees growing all over the campus. There was a maple forest before my eyes and most of the maple leaves were red or yellow. I couldn’t help thinking: “This is exactly the place where I‟d like to stay.” Jim arrived. Then, much to my surprise, he went to buy some birthday cake for one of the 20 students in Graduate Diploma in Journalism class. Jim remembers everybody’s birthday and buys some cake to help add a “sweet” element to the special day. As we got to the classroom, it was almost time for the next class. Jim introduced me to the 20 students and then began the class focusing on objective reporting in journalism. To improve my skills and get to know more about journalism in the west, I joined this class. I almost got lost when I tried to go back to the bus stop after class as the campus is, especially for someone who has just arrived, a little confusing. It’s huge and well forested, with trees and flowers everywhere. Fortunately, there is a map almost in every corner and an arrow to show where you are. When I left the campus, I ended up in another beautiful place, Hagley Park. The park is located between my apartment and the campus, and I pass through it everyday. It’s a huge park, and if you walk around it, it takes more than an hour. Most of the trees in the park are hundreds of years old; but there is at least one tree which is very young, planted by the Mayor of Gansu, Christchurch‟s sister city. There were very few people in the park, which is surprising considering its beauty. The botanical garden in the center of the park is surrounded by a stream where people can take small boats to see the surrounding beauty. And, interestingly enough, there‟s a sailor wearing handsome uniform that moves up and down the stream in a boat. The day before I left Christchurch for Beijing, I went to the park again and began to think there really is a “Heaven on Earth”. The city of Christchurch got its name from a Christian church located in the city center. The church was built in the 18th century and still serves the people everyday and is a place that proudly displays the city‟s history. Not very far from the church, is the newly-opened art gallery that shows modern aspects of the city. It is made of glass and hosts both modern and classic art exhibitions. Some of the most common descriptions I heard from Chinese students are “fresh air”, “blue sky” and “beautiful gardens”. And they are right! Christchurch is a real garden city.

An Unforgetable Dinner

People often asked me what I eat and if I cook. To tell you the truth, most Chinese staying abroad cook for themselves, and I was by no means an exception. It‟s less expensive and makes it a little easier to keep the tastes of home alive and well. Here I‟d like to tell you about a special dinner I had with my Kiwi classmates. We went on a reporting trip to the Marlborough Express newspaper in Blenheim, in the northern part of New Zealand‟s south island. Jim drove us there on June 16th, and the next day we went to work at the Marlborough Express. Our assignments were to write soft stories like profiles for their weekend edition. I interviewed a few Asian students including some from China, Japan, South Korea and Thailand. They all expressed that it was a good place to study because of its beauty, tranquility. However, while many of them cherished the opportunity of studying abroad, they usually discovered that there was no “taste like home”. They were not used to having bread or drinking milk twice a day. Although the schools took measures to hire Asian cooks to serve them Asian food every Tuesday, they still missed eating good hometown food all the time. After work, we went to the Countdown supermarket to buy some food for our meal. This evening, we would cook dinner in pairs. After we arrived at our Motel, Jim said: “You can start now.” The two Nicolas, Nicola B and Nicola W, started first. They took a big piece of pan cake, and then they put mushrooms, tomatoes, peppers and many other things on it. They were making pizza! After this, they put it in the oven to bake. And then the other students follow suit. I also tried to make a pizza, my first one! “To my surprise,” I said to Jim, “I didn‟t realize western food can also help create such a good atmosphere. It reminds me of Chinese Spring Festival when every member of the family joins hands to make dumplings. I feel at home!” “Yes,” Jim replied. “food always helps create a good atmosphere and good feelings.” It‟s true. Especially when my pizza was ready, I felt very warm to say the least. When I took my pizza out, Jim said it looked very good. In fact, it tasted even better! It was a great dinner! It was the first time I‟d ever eaten with a large group of students outside of China and I feel it was unforgettable.

Celebrating Spring Festival in RNZI

Another unforgettable thing was celebrating Spring Festival at Radio New Zealand International where I worked for almost 3 months. RNZI has only 11 permanent staff, but runs 24 hour programs. It was fun to be there. I didn‟t realize what time of year it was until I started to receive a few emails of festival greetings, which meant Spring Festival or Chinese New Year was on the way! The next day at noon, I went out to get some sweets, which they call lollies in New Zealand. I put the candy on the table which stands in the middle of the newsroom. “Hello everyone, please take some candies to celebrate the Chinese New Year!” “Wow! Happy New Year, Xuefei!” my Kiwi colleagues cheered. Janine and Penny were both born in the year of monkey. They were very happy to know that this year belonged to them. “What is it like to be a monkey?” Janine couldn‟t help asking. “Well,” I said, “it’s just like a monkey, intelligent, clever, smart and hard-working also. By the way, my mother was born in the year of monkey too.” Then, everyone starts to wonder what symbol is his or hers. In the end, we found out that Walter, Koro and Steven and I were all born in the year of horse. Then we drew the conclusion that horses make good journalists and editors because they are enthusiastic, independent and hard-working. And here the four horses are at different ages with Walter older and Koro younger than me. Then Lynda wondered what her birth symbol was and I guessed that it must be ox. An ox is definitely a good worker. It‟s true with Lynda, mother of two extremely energetic boys, who was very hard working and efficient, a good journalist. Sara turned out to be a rat, intelligent, sensitive, and easygoing. Then someone found some information about the Chinese zodiac and printed it out in English. As Linden came over, I told her that she was a tiger. “What is a tiger like?” She asked. “Just like you, in charge, very demanding and also capable.” I said. She burst out laughing. Linden is the manager and she is a good team leader because you can often hear laughter coming out of her office. And if you have any worries, she‟s also an amazing problem solver! Then the ladies started thinking of their partner‟s or children‟s birth symbol. After an enthusiastic discussion about their zodiac signs, people went back to work. As Penny came back to her desk after an interview, she said, “Our life is not the same any more.” I didn‟t really know what she was getting at. No one pointed out what she meant. But after a while I began to understand that the knowledge they gained caused them to wonder about their family members’ signs: what year their parents were born; and what kind of character their children and friends had. It gave people a new way of understanding others. It doesn‟t matter where they‟re from, the zodiac applies as equally to Chinese people as it does to Kiwi‟s and everyone else around the world. Everyone cares about their fate, their luck, their future and their relatives. It‟s a thread that links us all together. Even the next day we continued to talk about it. And we found out that Don‟s birth symbol was also monkey. Johnny was a rabbit and he would like to come to China some day soon. And a colleague of Steven‟s found out that he was born in the year of the dog. He said his mother even gave him a name Damin, which, at least in his opinion, is a dog‟s name. There weren‟t any fireworks or big family reunions, but I felt I had a great Spring Festival celebration in RNZI‟s newsroom.

Farewell to the University of Canterbury

200405The year passed so quickly that I barely had time to catch my breath, but the time came that I had to say goodbye. Why? The campus is a sacred place, it‟s fun, it‟s hard, it‟s frustrating and totally unforgettable. In fact, I didn‟t really feel that the campus has anything to do with academics; rather, it seemed much more like a social place to me, where I, and everyone else for that matter, could socialize freely. It was fun to practise Teeline or short-hand in English during journalism classes and I also found that I‟d developed a serious interest in media law along the way. Interviewing Chinese and other Asian students in Bleinheim was a wonderful experience. But what I found even more inspiring was to see students protest an increase of their tuition fees. As a visiting scholar from China Radio International, I really enjoyed sitting in the classroom, listening to lectures and having heated discussions with classmates. I was deeply impressed with the professors‟ attitudes and lectures; yet, I could also feel the stress they experienced during recent restructuring. I felt the library was extremely convenient because you only needed one card for everything.

The University of Canterbury has over a hundred years of history, yet it‟s also a melting pot for people coming from all over the world. It doesn‟t matter where you‟re from, anyone from anywhere can become a member of it. Goodbye, Canterbury, I loved you at first sight, and I will love you forever! (Chen Xuefei)

China Headlines: China eyes bigger global role with Chinese solutions

China Headlines: China eyes bigger global role with Chinese solutions

Stockholm, June 5 (Greenpost) — China on Sunday pledged to play a bigger role in international affairs while stressing its commitment to peace and justice by advancing win-win cooperation and common development.
Foreign Minister Wang Yi highlighted old Chinese wisdom and modern approaches in the country’s diplomacy at a press conference on the sidelines of the national legislature annual session.
The top Chinese diplomat took an array of questions on subjects ranging from China’s relations with the United States and Russia, to a military parade it will stage to mark the victory in World War II and the situation on the Korean Peninsula and warring northern Myanmar.

PARTNERSHIP, NOT ALLIANCE
The minister said China’s diplomacy in 2015, with two main themes of peace and development, will focus on making progress in the “Belt and Road” infrastructure initiatives.
China has said on many occasions that the initiatives, proposed by President Xi Jinping to upgrade cooperation between countries in Asia, Europe and Africa, are not exclusive and not a tool of geopolitics like the Marshall Plan.
Wang turned to a musical metaphor, “The initiatives are not a solo for China, but a symphony performed by all the countries involved.”
The hallmark of Chinese diplomacy with major countries is win-win cooperation, he said.
It includes upholding an independent foreign policy of peace and equality among all countries, he said, adding that these ideas originate from Chinese traditions and reflect the socialist principle.
He said China is blazing a new diplomatic path of “making partners rather than allies.”
China has established formal economic partnerships with more than 70 countries and many regional organizations.
While advocating that the current international order needs to be updated, Wang said his country has “no intention of overturning it or starting all over again,” 70 years after the end of WWII and the founding of the United Nations.
“It is very important to safeguard the legitimate rights and interests of developing countries which are in the majority of the world,” he said.
The minister promised to work with other countries to increase cooperation in combating cross-border corruption, an extension of the anti-graft declaration adopted during the Asia-Pacific Economic Cooperation meetings last year in Beijing.

MICROSCOPE, TELESCOPE
On relations between China and the United States, Wang said the world’s two biggest economies should not “magnify problems through a microscope,” but instead “use a telescope to look ahead to the future.”
He said that President Xi’s scheduled visit to the United States in September will inject “new momentum” into one of the world’s most important partnerships.
The minister also noted that Beijing and Washington, as they exert “pioneering efforts” to build a new model of major-country relations, will encounter obstacles along the path, calling for more trust between them.
With Russia under Western sanctions over the Ukraine crisis, Wang said that China’s relations with Russia will not be affected by “international vicissitudes” and are not aimed at any third party.
The two countries, with a comprehensive strategic partnership of coordination, will prioritize cooperation in areas including railways, finance and oil and gas.
Meanwhile, Wang said China will cooperate more with Africa on industrialization, sanitation and security and peace. It will also liaise with India to facilitate settlement of the boundary issue.
This year marks the 70th anniversary of China’s victory in the Chinese people’s War of Resistance against Japanese Aggression. Uncertainties overshadow ties between China and Japan, with territorial and historical disputes being far from resolved.
Wang, a former Chinese envoy to Japan, asked Japanese politicians to use their sense of conscience in judging history 70 years after Japan lost the war.
China is planning commemorative events, including a military parade, to mark the 70th anniversary and will invite foreign leaders to China for the commemorations.
China welcomes the participation of “anyone who is sincere about coming,” Wang said.
“By staging those commemorations, China will expand its convergence with other peace-loving countries and peoples,” said Prof. Gong Fangbin at the National Defense University of the People’s Liberation Army.

MEDICINE, SOLUTIONS
With its growing presence worldwide and increasingly interwoven interests in some regions, China has been seeking to address global hotspot issues by “putting forward Chinese solutions.”
“The most striking feature of China’s diplomacy last year was its activeness,” said Zhang Yunling, an international studies specialist who is also a member of the National Committee of Chinese People’s Political Consultative Conference. “It matches China’s role as a major player in the world.”
Over the past year, China, which has been following the principle of non interference with internal affairs of other countries, mediated on a host of regional issues, including in Afghanistan, Iran and South Sudan.
“When approaching a hotspot issue, we first need to take the pulse, adopt an objective and impartial attitude, and understand where the issue has come from and establish conceptions based on facts,” said Minister Wang, taking a metaphor from traditional Chinese medicine.
He pledged to follow a multi-pronged approach that seeks a political settlement addressing the concerns of all involved, rather than resorting to the use of force or sanctions.
The minister also urged stability in the conflict-hit northern Myanmar and called for calmness and restraint as the situation on the Korean Peninsula entered another delicate period.
Wang said that China would properly handle regional conflicts and advocate dialogue between cultures, religions and ethnic groups to counter terrorism, which was called by him as a “common scourge to mankind.”
The minister defended China’s construction on South China Sea islands and reefs, saying the move is lawful and justified.  Enditem

 

Source   Xinhua

Editor  Xuefei Chen Axelsson

Facebook: chenxuefei7

Twitter: chenxuefei7@hotmail.com

 

China Focus: China, ADB can tap “belt and road” potential

China Focus: China, ADB can tap “belt and road” potential

 

Stockholm, June 5(Greenpost)– The Asian Development Bank (ADB) and China can make use of the huge potential in infrastructure and energy along the belt and road, said ADB Vice President Zhang Wencai.

“Belt and road” refers to the Silk Road economic belt and the 21st century maritime Silk Road proposed by China in 2013 for improved cooperation between countries in Asia, Europe and Africa.

The belt and road will result in increased investment that will improve connectivity across Central Asia, Zhang said in an interview with Xinhua.

The ADB can work with China to translate the concept into concrete action through the Central Asia Regional Economic Cooperation (CAREC) program, Zhang said.

The CAREC program is an ADB initiative launched in 2001 to promote regional cooperation in transport, energy and trade between its 10 members, including Afghanistan, Azerbaijan, China, Tajikistan, and Uzbekistan.

“China can contribute to the economic corridor development in the CAREC region by sharing its experience in logistics, infrastructure, economic zones, spatial economic agglomeration, urbanization and public-private partnerships,” he said.

“Large investment needs for infrastructure in the region create large funding gaps,” he said.

All CAREC countries have substantial needs in energy development, Zhang added.

An ADB study in central Asia found that investment of about 36 billion U.S. dollars is needed before 2022 for power infrastructure in four countries.

“Given the large funding gap, China could look into co-financing with the ADB and other multilateral institutions in CAREC countries, and share its technical and management skills in large infrastructure projects,” he said. Enditem

Source  Xinhua

Editor Xuefei Chen Axelsson

facebook: chenxuefei7

twitter: chenxuefei7@hotmail.com

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China Headlines: Interest rate liberalization in last mile

China Headlines: Interest rate liberalization in last mile

BEIJING, June 3 (Greenpost) — After a series of reforms, China’s decades-long endeavor to free up the interest rates is finally reaching the last mile.

On Tuesday, China’s central bank issued a regulation for financial institutions to issue large-denomination certificates of deposit, known as CDs, to individuals and companies, which analysts hail as a key step forward towards the full liberalization of interest rates.

The certificates are tradable deposit agreements that allow lenders to bypass the interest rate controls. Currently, China has removed its grip on lending rates, but the ceiling on deposit rates is still retained at 1.5 times the benchmark.

“The introduction of the CDs is a milestone in pushing China’s interest rate reform through the last mile,” Deng Haiqing, an analyst with CITIC Securities, said.

MARKET IMPACT

The participation threshold for purchasing a CD is set at 300,000 yuan (about 48,860 U.S. dollars) for individual investors and 10 million yuan for institutions, according to the central bank.

Interest on the certificates will be mainly determined by the market. Banks and investors can set a fixed or a floating rate, using the Shanghai Interbank Offered Rate (Shibor) as a benchmark.

Shibor, which measures costs of interbank borrowing that is not under state control, stood at 3.191 percent for six-month loans and 3.4080 percent for one-year loans on Wednesday.

The current interest rates for six-month and one-year ordinary deposits cannot exceed 3.075 percent and 3.375 percent, respectively.

With higher returns and less risks due to the deposit insurance system already in place, the CD scheme is expected to offer banks new channels to lure deposits at a time when they are under vehement attack from other wealth management products and a booming stock market.

Central bank data showed outstanding yuan deposits stood at 125.76 trillion yuan as of the end of April, up 9.7 percent year on year. The growth slowed 4.6 percentage points from a year earlier.

Lou Lili, general manager of the strategy and innovation department under Evergrowing Bank, a Chinese joint-stock commercial bank, said the certificates of deposit tailored to investors will further enrich investment options in China’s financial market.

“Meanwhile, the certificates’ tradable feature will help enhance deposit liquidity,” Lou said.

But at the same time, the freedom to price the rates is likely to set off fierce competition among the lenders, which may translate into higher financing costs for the struggling real economy, a report by Huatai Securities warned.

In the long term, however, liquidity flow will become more market-oriented once interest rate liberalization is realized, the report added.

INTEREST RATE LIBERALIZATION

Interest rate liberalization is a significant part of China’s pledge to allow the market to play a decisive role in allocating resources.

Zong Liang, a finance researcher at Bank of China, said Tuesday’s introduction of CDs would enhance banks’ capability to independently decide the price of interest rates, and nurture social expectations of market-based rates.

Since 1996 when the country removed its control over inter-bank lending rates, China has taken incremental steps toward interest rate liberalization, including a move in July 2013 to scrap the floor limit for bank lending rates and, later, a guideline for piloting negotiable deposit certificates on the interbank market.

On May 1, the long-awaited deposit insurance scheme was put in place, which was considered a precondition for China to free up deposit rates

At a press conference on the sidelines of the national legislature’s annual session, central bank governor Zhou Xiaochuan said in March that the possibility for China to fully liberalize its interest rate mechanism is “very high” this year.

And with Tuesday’s introduction of the CDs, Guojin Securities predicted that the grip on deposit rate will be completely removed by the end of 2015.

TIMELINE

In 1996, China removed control over inter-bank lending rates.

In 2004, the central bank scrapped an upper limit for banks’ lending rate and allowed a downward flotation of no more than 10 percent from the benchmark lending rate.

In July 2013, the central bank fully scrapped the floor limit for banks’ lending interest rate.

In December 2013, the central bank gave green light to the issuance of inter-bank negotiable certificates of deposit, which expanded banks’ financing channels and encouraged market-based interest rates.

In May 2015, China began implementing the deposit insurance scheme, which is regarded as an important part of financial safety and a precondition for China to free up deposit rates.

On May 10, 2015, the central bank lifted the upper limit of the deposit rate’s floating band to 1.5 times the benchmark from the previous 1.3 times, granting banks more pricing autonomy.

On June 2, 2015, the central bank allowed banks to issue certificates of deposit to both individual and institutional investors, less than two years after the issuance of certificates were rolled out among banks. Enditem

Source  Xinhua

Editor Xuefei Chen Axelsson

chenxuefei7@hotmail.com

 

China Voice: South China Sea issue should not hinder China-U.S. ties

China Voice: South China Sea issue should not hinder China-U.S. ties

BEIJING, June 1 (Greenpost) — A series of actions and words by the United States are an overreaction on the South China Sea issue, which only lead to their international credibility being affected.

A U.S. anti-submarine and maritime surveillance aircraft flew over waters off China’s Nansha Islands last month. Onboard the aircraft was also a CNN team, which claimed they had been given permission by the Pentagon.

Clearly the United States wanted to play up China’s island construction activities to portray it as a threat to regional stability.

Speaking on his way to Singapore to attend the annual Shangri-La Dialogue security forum last week, U.S. Defense Secretary Ash Carter called for an end to island-building in the South China Sea, despite the fact that Beijing has repeatedly elaborated that China’s construction on the islands, besides meeting necessary defense needs, mostly serves civil purposes.

For a long time, the South China Sea has maintained peace and stability with the freedom of navigation fully upheld. China’s construction activities on the Nansha islands and reefs are entirely within China’s sovereignty. They are lawful, justified and reasonable and do not affect or target any particular country.

China’s sovereignty, rights and interests in the South China Sea have been consistently upheld by successive Chinese governments and established over a long history, with ample historical and legal basis.

China’s stand has been firm and clear: It will not want anything that does not belong to it, but it will ensure each inch of land it owns safe and sound.

Currently, China and ASEAN countries have identified a “dual track” approach on the South China Sea, which calls for disputes to be resolved through negotiation and consultation between parties directly concerned and for China and ASEAN member states to work together to maintain peace and stability.

Progress has been made in consultations on a Code of Conduct in the South China Sea (COC), and the COC is meant to be a set of rules for China and countries in the region rather than rules set by outsiders.

One thing for sure, the United States is not a party concerned with the South China Sea issue. Stirring up trouble in the region will only make it unpopular.

If unnecessary anxiety by the U.S. and oversensitivity to the South China Sea issue is developing to the severity that hurts the stability and development of the Asia-Pacific region, it will run against the common aspiration of the people and countries of the Asia-Pacific region and be detrimental to the United States itself.

On the whole, the China-U.S. relationship is developing on a steady track, the stability brooks no disturbance or troublemaking. More importantly, both sides should properly handle disputes so as not to distract the overall direction of the bilateral ties. The world’s most important bilateral relationship deserves to be cherished.

The South China Sea issue will not and should not become an obstacle of the China-U.S. ties. Washington should be aware of this and be discreet in its words and deeds. Enditem

Editor’s note: This article doesn’t represent Greenpost’s view.

Source Xinhua

Editor  Xuefei Chen Axelsson

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China Headlines: Beijing holds breath for effective smoking ban

China Headlines: Beijing holds breath for effective smoking ban

BEIJING, June 1 (Greenpost) — A downtown hotpot restaurant was the first business to get an official warning for breaking Beijing’s toughened smoking ban, as inspectors swooped to enforce the new regulation on Monday.

On the first day of the ban, which prohibits smoking in all indoor public places, workplaces, and on public transport, authorities sent more than 1,000 inspectors to government agencies, hospitals, schools, hotels, restaurants and entertainment venues to ensure it is being followed.

The inspectors found cigarette butts in the hotpot restaurant’s washroom on Monday morning, with the restaurant also failing to publicize the smoking complaint hotline 12320 on its no-smoking posters.

Inspectors said they will visit again in two days to check the restaurant’s compliance, and warned of a fine up to 100,000 yuan (1,614 U.S. dollars) if it fails to comply.

The new ban was passed by Beijing’s municipal legislature in November. Individuals caught smoking in public places may be fined 200 yuan (32 U.S. dollars), while businesses will have to pay up to 100,000 for failing to discourage smoking on their premises.

As the world’s largest tobacco maker and consumer, China has more than 300 million smokers, almost the size of the U.S. population, and another 740 million people are exposed to second-hand smoke each year.

Ma Yongsheng, who runs a restaurant in Beijing, canceled a wedding banquet reservation on Monday, as a guest insisted on smoking during the meal.

“If we continue to host guests who smoke, we’ll surely be fined,” Ma said.

At Beijing Capital International Airport, people gathered at two designated outdoor smoking areas to have a last puff as indoor smoking rooms in the airport’s three terminals have all been closed.

While regulators has vowed strict implementation, some still doubt the feasibility of the new ban and fear authorities’ resolve to curb smoking could taper over time and leave the ban as ineffective as its predecessors.

Beijing has had smoking bans in place since as far back as the 1990s, and stepped up the campaign before the 2008 Olympics, but the bans have always been weakly enforced.

A Xinhua reporter spotted people smoking indoors in a downtown hospital on Monday.

“I hope the government’s momentum to curb smoking can last this time,” said someone with the screen name “@skywalker” on microblog Sina Weibo. “Just don’t let this ban become another barely-enforced policy nobody remembers after six months.”

At a bus stop during the morning rush hour, a volunteer asked scores of people to finish smoking elsewhere before lining up.

“Most stub out their cigarettes at our request but that’s the most we can do,” the volunteer said. “We are not authorized to fine those who refuse to obey the ban.”

The World Health Organization (WHO) suggested mobilizing the public to help enforce the ban.

“If you see someone smoking in a restaurant, tell them to stop! Talk to the manager or owner, or call the national health hotline 12320 to complain,” said WHO China Representative Bernhard Schwartlander.

China signed the WHO Framework Convention on Tobacco Control (FCTC) in 2003.

“Beijing’s ban on smoking indoors is consistent with China’s commitment to the FCTC of protecting the health of non-smokers through enhanced legal support,” said Wang Qingbin, a professor with China University of Political Science and Law who helped draft the new smoking ban.

The new ban also serves as a test case for a similar move nationwide. Draft legislation for a national ban has been published to solicit public opinions.

In April, China’s top legislature adopted an amendment to the Advertisement Law, banning tobacco advertising in mass media, in public places, public vehicles and outdoors.

China also raised consumption tax on cigarettes at the wholesale level on May 10, a move expected to cut cigarette consumption by 4 to 5 percent and add 100 billion yuan to annual tax revenue.

Data from local price monitoring departments across the country shows the tax rise has largely been passed on to consumers. Cigarettes priced under 20 yuan per pack have seen a price hike of between 0.5 and one yuan. Those priced above 20 yuan have generally been subject to a price rise of around two yuan.

Angela Pratta, who leads the WHO’s Tobacco Free Initiative in China, has urged the government to lead by example in enforcing the ban.

“Strong enforcement is critical to ensuring the effectiveness of smoke-free laws, so too is leadership. Senior officials and leaders in government offices need to lead the way by setting an example and supporting enforcement efforts,” Pratta said. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

Interview: Formal signing of China-S.Korea FTA to enhance economic cooperation

IN-DEPTH

 

Interview: Formal signing of China-S.Korea FTA to enhance economic cooperation

 

SEOUL, June 1(Greenpost) — The formal signing of the China-South Korea free trade agreement (FTA) will further enhance economic cooperation between the two neighbors as the free trade accord will facilitate a productive competition, experts here said.

Chinese Commerce Minister Gao Hucheng and his South Korean counterpart Yoon Sang-jick formally signed the bilateral FTA in central Seoul Monday, three years after the two countries began talks on the deal in May 2012.

After Chinese President Xi Jinping’s state visit to Seoul in July 2014, negotiations on the free trade pact made fast progress. President Xi and his South Korean counterpart Park Geun-hye announced the conclusion of substantive negotiations on the deal in Beijing in November 2014, and the two nations initialed the FTA three months later.   “The formal signing means a signal flare to more deepened economic cooperation between the two nations,”Han Jae-jin, senior research fellow at the Hyundai Research Institute, said in an interview.

Han said South Korea seemed to have joined all China-led global projects for economic integration, including the Asian Infrastructure Investment Bank (AIIB) as well as the bilateral FTA, to go together with the Chinese economy, one of the world’s fastest growing economies.

The implementation of the FTA was expected to intensify competition between companies of the two countries as China has been changing its focus from labor-intensive industries to technology-innovative ones. Competitiveness of Chinese manufacturers was forecast to advance at a fast pace in terms of technology, management and finance.   “China’s attention is moving from low value-added industries to high value-added ones like IT and chips where competition will get fiercer between South Korean and Chinese companies,”said Han.

The researcher, however, said that the two economies can advance together, while competing with each other, as” opportunities will come together with the crisis.”

China’s Xiaomi, Huawei and Lenovo were increasingly eroding the market shares in the global smartphone market of Samsung Electronics and LG Electronics, South Korea’s tech giants. There were many Chinese companies going global and competitive such as the Alibaba Group.

After the bilateral FTA comes into force, Chinese firms could make inroads into the South Korean market through mergers and acquisitions (M&A) to secure higher technological competitiveness and brand value of South Korean companies.

South Korean firms can take the free trade pact with China as an opportunity for making a foray into the world’s largest consumer market. The FTA would further open Chinese markets, and South Korean firms would face eased regulations.   “South Korean companies should see the Chinese market as a place where they compete with Chinese and global companies in high-tech industries, not as a place where they can manufacture products with low labor costs,”said Han.

The researcher said that South Korean companies could succeed in the world’s No.1 consumer market only when preparing for the changing trend in China toward high value-added, innovative industries and consumer demand for higher-quality products.

Jee Mansoo, research fellow at the Korea Institute of Finance ( KIF), said that the formal signing of the bilateral FTA drove China and South Korea into a closer relationship economically, but he cautioned that benefits from the deal may be lower than expected given the narrower width of liberalization and the slower pace of opening compared with other free trade accords.

Under the accord, South Korea will eliminate tariffs on 92 percent of all products from China within 20 years after the FTA implementation in return for China abolishing tariffs on 91 percent of all South Korean goods.

Other free trade deals tend to eliminate tariffs on as much as 99 percent of all products within five years after the implementation.

Jee, however, noted that the low-level of FTA between China and South Korea would reduce possible damages to farmers and industries of both countries, adding that it would be affordable FTA for people of the two nations. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

China to make Silk Road documentary

China to make Silk Road documentary

BEIJING, June 3 (Greenpost) — China National Documentary Film Group (CNDF) announced on Wednesday that it will shoot a TV documentary about countries along the Silk Road.

The documentary, named “The Silk Road in a New Century”, will focus on history, culture and the economies of more than 10 countries along the ancient route.

A crew will set out in July to travel about 16,000 kilometers across Asia and reach its final destination of Italy in September.

“Cultures along the Silk Road are colorful, and economic potential in this region is great. I hope Chinese people can understand these countries better through a lens,” said CNDF board chairman Gao Feng.

In history, the Silk Road served as a business and cultural link between Asia and Europe. It has regained attention since Chinese President Xi Jinping proposed an economic belt of countries along the route in September 2013. Enditem

Source  Xinhua

Editor  Xuefei Chen Axelsson

Beijing’s largest coal-fired boiler house retired

Beijing’s largest coal-fired boiler house retired

BEIJING, June 3 (Greenpost) — The largest coal-fired boiler house in urban Beijing was shut down on Tuesday, as part of the government’s plan to cut pollution in the capital city.

The boiler house, which has four boilers with a total capacity of 80 tons of vapor per hour, accounts for over a fifth of the total coal-fired boiler capacity in urban Beijing and provides heating for a rail equipment manufacturing company and 20,000 local residents.

The boiler house, located near the famous Marco Polo bridge in Fengtai District, will be replaced with three gas-fired boilers before November, when the city’s centrally controlled heating is turned on for the winter.

The boiler house used 40,000 tons of coal and emitted 54 tons of sulfur dioxide, 57 tons of nitric oxide, 45 tons of dust and 1 ton of volatile organic compounds per year.

Beijing plans to close all coal-fired boilers in urban areas by the end of this year, according to a government work plan released in April.

Of the four major coal-fired power plants in Beijing, three have been closed so far and the last is scheduled to be closed next year. They will be replaced with four gas-fired power plants.

Beijing is aiming to limit annual coal consumption to 15 million tons in 2015 and 10 million tons in 2017. Enditem

Source  Xinhua

Editor  Xuefei Chen Axelsson

China, Central and Eastern Europe make breakthroughs in infrastructure cooperation

China, Central and Eastern Europe make breakthroughs in infrastructure cooperation

 

Stockholm, June 3 (Greenpost) — Chinese enterprises and their partners in Central and Eastern European (CEE) countries have made new breakthroughs in infrastructure cooperation in recent years. The Chinese enterprises have actively followed up and participated in the projects of bridge, power station, highway and flood control in those countries, said Xu Xiaofeng, deputy head of Department of European Affairs under Ministry of Commerce (MOC) on Wednesday.

Chinese enterprises have participated in construction of projects such as Belgrade’s Danube-spanning bridge and the Kostolac power plant in Serbia, Serbia’s E763 highway, highway projects in Macedonia, thermal power plants in Bosnia and Herzegovina, etc.

China is the largest trade partner of the 16 CEE countries in Asia, while Poland, Czech Republic and Hungary are the top three trade partners in the CEE for China.

In recent years, the bilateral trade between China and CEE countries has grown steadily.

According to Chinese customs statistics, the bilateral trade increased to 60.2 billion US dollars in 2014 from 52.1 billion US dollars in 2012, representing a rise of 15.6 percent.

In the first four months of 2015, their bilateral trade value amounted to 17.6 billion US dollars, down 6.4 percent year on year. Enditem

Source  Xinhua

Editor  Xuefei Chen Axelsson