China
China Watch: The Sina Weibo Story, a Warning to Police
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.) News Items: China’s Ministry of Public Security issues a warning to police not to get involved in activities outside the scope of their duties , including housing demolitions and operating entertainment venues. (Xinhua) Vietnam claims sovereignty violations in lodging an official complaint against Chinese naval exercises in the South China Sea. (AFP) A record number of foreigners came to study in China in 2010, according to new government statistics. (China Daily) Digging Deeper: Following news that several Chinese state-run companies were suspending operations in Libya, Global Times tries to calculate Beijing’s losses in the North African country. Manacle Man: In the wake of calls for a “Jasmine Revolution,” the Financial Times examines the ascendancy of China’s security chief, Zhou Yongkang. “Two Meetings” Watch ( background ): The assets of government officials will be disclosed “ step by step ,” according to a CPPCCC spokesman. First task, he says: defining what “assets” means. China should raise its poverty line to match global standards, a political adviser says, arguing that the current level leaves 100 million poor people uncounted in official statistics. Social Media Watch: The Story of Sina Weibo: Forbes writer Gady Epstein takes a long, detailed and highly informative look at China’s most active microblogging platform. How many social network users are there in China? Penn Olson flags a new report that predicts 488 million by 2015 . Just Because: Shocker: Shanghai Daily reports that an online “Festival for Mistresses”—in which mistresses joined cheating husbands and wronged wives in a chat room— ended badly . How does a rich Chinese businessman memorialize his mother? With a $500,000 funeral . –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.)
News Items:
- China’s Ministry of Public Security issues a warning to police not to get involved in activities outside the scope of their duties, including housing demolitions and operating entertainment venues. (Xinhua)
- Vietnam claims sovereignty violations in lodging an official complaint against Chinese naval exercises in the South China Sea. (AFP)
- A record number of foreigners came to study in China in 2010, according to new government statistics. (China Daily)
Digging Deeper:
- Following news that several Chinese state-run companies were suspending operations in Libya, Global Times tries to calculate Beijing’s losses in the North African country.
- Manacle Man: In the wake of calls for a “Jasmine Revolution,” the Financial Times examines the ascendancy of China’s security chief, Zhou Yongkang.
“Two Meetings” Watch (background):
- The assets of government officials will be disclosed “step by step,” according to a CPPCCC spokesman. First task, he says: defining what “assets” means.
- China should raise its poverty line to match global standards, a political adviser says, arguing that the current level leaves 100 million poor people uncounted in official statistics.
Social Media Watch:
- The Story of Sina Weibo: Forbes writer Gady Epstein takes a long, detailed and highly informative look at China’s most active microblogging platform.
- How many social network users are there in China? Penn Olson flags a new report that predicts 488 million by 2015.
Just Because:
- Shocker: Shanghai Daily reports that an online “Festival for Mistresses”—in which mistresses joined cheating husbands and wronged wives in a chat room—ended badly.
- How does a rich Chinese businessman memorialize his mother? With a $500,000 funeral.
–compiled by Josh Chin. Follow him on Twitter @joshchin
After keeping its currency tightly linked to the US dollar for years, China in July 2005 revalued its currency by 2 % against the US dollar and moved to an exchange rate system that references a basket of currencies.
China continues to lose arable land because of erosion and economic development.
The government has also focused on foreign trade as a major vehicle for economic growth.
Available energy is insufficient to run at fully installed industrial capacity, and the transport system is inadequate to move sufficient quantities of such critical items as coal.
Its mineral resources are probably among the richest in the world but are only partially developed.
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.
China’s increasing integration with the international economy and its growing efforts to use market forces to govern the domestic allocation of goods have exacerbated this problem.
The ministry made the announcements during a press conference held in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade.
But “this is just a beginning.
China is aiming to be the world’s largest new energy vehicle market by 2020 with 5 million cars.
In large part as a result of economic liberalization policies, the GDP quadrupled between 1978 and 1998, and foreign investment soared during the 1990s.
Since the late 1970s, China has decollectivized agriculture, yielding tremendous gains in production.
In terms of cash crops, China ranks first in cotton and tobacco and is an important producer of oilseeds, silk, tea, ramie, jute, hemp, sugarcane, and sugar beets.
Hogs and poultry are widely raised in China, furnishing important export staples, such as hog bristles and egg products.
Offshore exploration has become important to meeting domestic needs; massive deposits off the coasts are believed to exceed all the world’s known oil reserves.
China’s leading export minerals are tungsten, antimony, tin, magnesium, molybdenum, mercury, manganese, barite, and salt.
Major industrial products are textiles, chemicals, fertilizers, machinery (especially for agriculture), processed foods, iron and steel, building materials, plastics, toys, and electronics.
The iron and steel industry is organized around several major centers (including Anshan, one of the world’s largest), but thousands of small iron and steel plants have also been established throughout the country.
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China Watch: The Sina Weibo Story, a Warning to Police
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. |
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