China
China Watch: Big on Mao Tai, Afraid of Milk
A list of what the Wall Street Journal’s reporters in China are reading and watching online. (NOTE: WSJ has not verified items in the ‘News’ section and does not vouch for their accuracy.) Last updated: 6:20 pm Beijing time. News Items: More than one hundred bottles of vintage Mao Tai, China’s “national liquor,” sold at auction for a total of nearly $800,000 in Shanghai over the weekend. (Xinhua) A new survey shows 70% of Chinese consumers avoid domestically-produced milk products . (Beijing Times via China Media Project) Digging Deeper: Criminal youth: China Daily reports on findings that migrant workers born after 1980 were responsible for a third of the crimes committed in China in 2010. The end of cheap jeans? The Telegraph examines the effects of rising cotton prices and rising labor prices on China’s producers of cut-rate denim . The dark side of China’s labor shortage: The Los Angeles Times takes a close and harrowing look at the practice, disturbingly common in China, of using disabled people as slave labor . Jasmine Watch: East South West North translates a post on the nationalist Chinese website Anti-CNN.com that picks out instances of Western media using misleading photos in reporting on the “Jasmine Revolution.” Why is China so worried about protests when its economy is growing at an unprecedented rate? The Globe and Mail examines the contradiction . Forget regime change for a second: Forbes blogger Paul Denlinger points looks at how the turmoil in northern Africa will affect China’s business interests there . Other recent readings: In an enlightening essay for Foreign Affairs last week, Wang Jisi, dean of Peking University’s School of International Studies identified several major transformations in China’s strategic thinking , among them a move towards a more “comprehensive understanding of security.” Just because: In video that has spread widely throughout the Chinese internet, angry airline passengers take revenge on “platinum” fliers whose complaints about not getting upgraded caused a flight to be delayed []. Chinfographics produces a striking series of infographics describing everything from the size of China’s car demand over time to just how bad the national soccer team really is. (NOTE: Link is to a Ministry of Tofu summary with low-resolution versions of the infographics; the Chinfograpics website appears to have been hacked, but full-resolution copies of the graphics are available here .) –compiled by Josh Chin. Follow him on Twitter @joshchin
A list of what the Wall Street Journal’s reporters in China are reading and watching online. (NOTE: WSJ has not verified items in the ‘News’ section and does not vouch for their accuracy.) Last updated: 6:20 pm Beijing time.
News Items:
- More than one hundred bottles of vintage Mao Tai, China’s “national liquor,” sold at auction for a total of nearly $800,000 in Shanghai over the weekend. (Xinhua)
- A new survey shows 70% of Chinese consumers avoid domestically-produced milk products. (Beijing Times via China Media Project)
Digging Deeper:
- Criminal youth: China Daily reports on findings that migrant workers born after 1980 were responsible for a third of the crimes committed in China in 2010.
- The end of cheap jeans? The Telegraph examines the effects of rising cotton prices and rising labor prices on China’s producers of cut-rate denim.
- The dark side of China’s labor shortage: The Los Angeles Times takes a close and harrowing look at the practice, disturbingly common in China, of using disabled people as slave labor.
Jasmine Watch:
- East South West North translates a post on the nationalist Chinese website Anti-CNN.com that picks out instances of Western media using misleading photos in reporting on the “Jasmine Revolution.”
- Why is China so worried about protests when its economy is growing at an unprecedented rate? The Globe and Mail examines the contradiction .
- Forget regime change for a second: Forbes blogger Paul Denlinger points looks at how the turmoil in northern Africa will affect China’s business interests there .
Other recent readings:
- In an enlightening essay for Foreign Affairs last week, Wang Jisi, dean of Peking University’s School of International Studies identified several major transformations in China’s strategic thinking, among them a move towards a more “comprehensive understanding of security.”
Just because:
- In video that has spread widely throughout the Chinese internet, angry airline passengers take revenge on “platinum” fliers whose complaints about not getting upgraded caused a flight to be delayed [].
- Chinfographics produces a striking series of infographics describing everything from the size of China’s car demand over time to just how bad the national soccer team really is. (NOTE: Link is to a Ministry of Tofu summary with low-resolution versions of the infographics; the Chinfograpics website appears to have been hacked, but full-resolution copies of the graphics are available here.)
–compiled by Josh Chin. Follow him on Twitter @joshchin
Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2009 stood as the second-largest economy in the world after the US, although in per capita terms the country is still lower middle-income.
Deterioration in the environment – notably air pollution, soil erosion, and the steady fall of the water table, especially in the north – is another long-term problem.
China is also the second largest trading nation in the world and the largest exporter and second largest importer of goods.
The PRC government’s decision to permit China to be used by multinational corporations as an export platform has made the country a major competitor to other Asian export-led economies, such as South Korea, Singapore, and Malaysia.
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
China is the world’s largest producer of rice and is among the principal sources of wheat, corn (maize), tobacco, soybeans, peanuts (groundnuts), and cotton.
A report by UBS in 2009 concluded that China has experienced total factor productivity growth of 4 per cent per year since 1990, one of the fastest improvements in world economic history.
By the early 1990s these subsidies began to be eliminated, in large part due to China’s admission into the World Trade Organization (WTO) in 2001, which carried with it requirements for further economic liberalization and deregulation.
Both forums will start on Tuesday.
According to the ministry, China’s ODI grew by 1.1 percent from a year earlier to $56.53 billion, which includes investment of $47.8 billion in non-financial sectors worldwide, up 14.2 percent year-on-year.
China reiterated the nation’s goals for the next decade – increasing market share of pure-electric and plug-in electric autos, building world-competitive auto makers and parts manufacturers in the energy-efficient auto sector as well as raising fuel-efficiency to world levels.
Although China is still a developing country with a relatively low per capita income, it has experienced tremendous economic growth since the late 1970s.
Agriculture is by far the leading occupation, involving over 50% of the population, although extensive rough, high terrain and large arid areas – especially in the west and north – limit cultivation to only about 10% of the land surface.
China is the world’s largest producer of rice and wheat and a major producer of sweet potatoes, sorghum, millet, barley, peanuts, corn, soybeans, and potatoes.
Fish and pork supply most of the animal protein in the Chinese diet.
Growing domestic demand beginning in the mid-1990s, however, has forced the nation to import increasing quantities of petroleum.
China’s leading export minerals are tungsten, antimony, tin, magnesium, molybdenum, mercury, manganese, barite, and salt.
In the 1990s a program of share-holding and greater market orientation went into effect; however, state enterprises continue to dominate many key industries in China’s socialist market economy.
In the northeast (Manchuria) are large cities and rail centers, notably Shenyang (Mukden), Harbin, and Changchun.
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China Watch: Big on Mao Tai, Afraid of Milk
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
China
Vietnam’s Approach to China: A Balance of Cooperation and Struggle
Vietnam’s diplomatic strategy seeks a balance of cooperation and struggle with China, focusing on strengthening ties while resisting encroachments in the South China Sea through military enhancements and regional partnerships.
Vietnam’s Diplomatic Strategy
Vietnam’s diplomatic approach seeks to maintain a delicate balance between cooperation and struggle with China. While concerned about China’s growing influence, particularly in the South China Sea, Hanoi focuses on strengthening its economic and political ties. This effort involves military enhancements, fostering relationships with regional powers, and engaging in frequent political dialogues. By skillfully navigating relations with major powers, Vietnam aims to protect its sovereignty and foster stability amidst evolving geopolitical dynamics.
Recent Developments and Implications
Hanoi’s diplomatic maneuvering has drawn attention, particularly regarding key visits like Vietnamese Communist Party General Secretary To Lam’s August 2024 trip to China. Although there are apprehensions about a potential shift in Vietnam’s alignment due to To Lam’s background in public security and his anti-corruption initiatives, it is premature to predict any significant changes in policy. Vietnam’s leaders must continuously seek a balance between peaceful coexistence with China and safeguarding national sovereignty.
Economic Interdependence and Military Modernization
Vietnam’s strategy involves fostering economic interdependence with China while simultaneously resisting encroachments. This paradigm of “cooperation and struggle” enables Hanoi to cultivate beneficial ties in economic, political, and security domains. By leveraging its geographical advantage and connections, Vietnam enhances its economic ties while countering threats through military modernization and cooperation with regional partners. This nuanced approach allows Vietnam to welcome trade, particularly amidst shifting dynamics from the US-China trade war, ensuring continued foreign direct investment and growth in key sectors.
Source : Cooperation and struggle define Vietnam’s approach to China
China
2025 Schedule of Public Holidays in China
China’s 2025 public holiday schedule increases holidays by two days, with an 8-day Spring Festival and a 5-day Labor Day. Adjustments address public frustration, though long work periods persist. Notably, weekends are often designated as workdays to balance extended breaks.
China has released its 2025 Public Holiday schedule. Compared to 2024, the number of public holidays for all citizens has increased by two days, specifically for Lunar New Year’s Eve and May 2nd.
The announcement also clarifies the adjusted holiday arrangements, stating that the continuous work period before and after statutory holidays generally should not exceed six days, except for certain special circumstances.
According to the notice, in 2025, the Spring Festival will have an 8-day holiday, the Labor Day holiday will last 5 days, and the National Day and Mid-Autumn Festival will jointly have 8 days off.
China has long been considered one of the least generous countries in terms of public holidays. Additionally, people have expressed frustration over the complicated adjustments to holiday and working days that are meant to create longer breaks. The newly introduced changes are expected to address these concerns to some extent.
Beyond the newly introduced changes, China’s 2025 public holiday schedule still features two major week-long holidays: Spring Festival (also known as Chinese New Year) and the National Day holiday (often called ‘Golden Week’).
In 2025, the Spring Festival falls between January 28 and February 4, and the National Day holiday, together with the Mid-Autumn Festival, fall between October 1 and 8.
Foreign human resource managers should note that Saturdays and Sundays are often marked as additional official workdays in China to compensate for long holiday breaks. For example, January 26 (Sunday) and February 8 (Saturday) are designated as workdays to partially offset the eight days off for the Spring Festival.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
Read the rest of the original article.
- Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
- Vietnam’s Approach to China: A Balance of Cooperation and Struggle
- 2025 Schedule of Public Holidays in China
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