China
Following Jiang Death Rumors, China’s Rivers Go Missing
China’s longest river, the Yangtze, has been at the heart of historic floods this summer that have killed dozens of people and laid waste to hundreds of thousands of acres of farmland. But to users of one of China’s most popular social media sites, it no longer exists. Searches for the Yangtze’s Chinese name – Chang Jiang (长江)—on Sina.com’s Weibo microblogging platform came up empty on Wednesday, as did searches for a number of other Chinese rivers, yielding instead the service’s standard censorship notice: “According to the relevant laws, regulations and policies, the results of this search cannot be displayed.” Why the sudden aversion to flowing bodies of water? The likeliest explanation is a torrent of rumors circulating online since Tuesday that former president Jiang Zemin is either gravely ill or has already died. Mr. Jiang’s surname means “river.” The Chinese rumor mill has wrongly predicted Mr. Jiang’s death before. But the latest round of speculation comes just days after the 84-year-old former leader conspicuously failed to show up at celebrations marking the 90th anniversary of the founding of the Chinese Communist Party. He would be the longest-serving and in many ways most significant Chinese leader to have died since Deng Xiaoping in February 1997. Regardless of whether the rumors are true, Sina is taking no chances. In addition to “river,” the company has also blocked searches for “death” in various iterations as well as “301 Hospital,” a reference to the People’s Liberation Army General Hospital in Beijing where top leaders are often treated. Beyond blocking searches, the service’s human censors have also been busy hand-deleting posts that mention the former leader. Chinese microbloggers have employed a variety of tricks in an apparent attempt to get around the blocks. With Weibo censors blocking searches the word for “hung” (挂了), a common Chinese euphemism for death, users have been circulating an image showing an empty set of clothing hanging out to dry, pants hiked up to chest level the way Mr. Jiang preferred. It’s not the first time China’s censors have gone to great lengths to prevent Internet users searching out information on the country’s top leaders. At various times, Chinese language searches for “carrot” on Google have been blocked , apparently because one of the three characters in the word matches the surname of current Chinese president Hu Jintao. There are some inconsistencies in Sina’s apparent effort to quash the speculation surrounding Mr. Jiang. While “myocardial infarction” is blocked, “heart attack” mysteriously is not. Searches for “301 Hospital” that use Chinese characters for the numbers instead of Arabic numerals likewise produce results. As always, it remains unclear whether the censorship effort has managed to calm speculation about Mr. Jiang’s death or encouraged it further. Jiang-related rumors and commentary remained rife Wednesday night on Twitter, which is blocked in China but can be accessed by means of firewall circumvention software. And while Sina’s content police have gotten wise to the image of the empty suit of clothing, it remains available on Google+ . – Josh Chin. Follow him on Twitter @joshchin
China’s longest river, the Yangtze, has been at the heart of historic floods this summer that have killed dozens of people and laid waste to hundreds of thousands of acres of farmland. But to users of one of China’s most popular social media sites, it no longer exists. Searches for the Yangtze’s Chinese name – Chang Jiang (长江)—on Sina.com’s Weibo microblogging platform came up empty on Wednesday, as did searches for a number of other Chinese rivers, yielding instead the service’s standard censorship notice: “According to the relevant laws, regulations and policies, the results of this search cannot be displayed.” Why the sudden aversion to flowing bodies of water? The likeliest explanation is a torrent of rumors circulating online since Tuesday that former president Jiang Zemin is either gravely ill or has already died. Mr. Jiang’s surname means “river.” The Chinese rumor mill has wrongly predicted Mr. Jiang’s death before. But the latest round of speculation comes just days after the 84-year-old former leader conspicuously failed to show up at celebrations marking the 90th anniversary of the founding of the Chinese Communist Party. He would be the longest-serving and in many ways most significant Chinese leader to have died since Deng Xiaoping in February 1997. Regardless of whether the rumors are true, Sina is taking no chances. In addition to “river,” the company has also blocked searches for “death” in various iterations as well as “301 Hospital,” a reference to the People’s Liberation Army General Hospital in Beijing where top leaders are often treated. Beyond blocking searches, the service’s human censors have also been busy hand-deleting posts that mention the former leader. Chinese microbloggers have employed a variety of tricks in an apparent attempt to get around the blocks. With Weibo censors blocking searches the word for “hung” (挂了), a common Chinese euphemism for death, users have been circulating an image showing an empty set of clothing hanging out to dry, pants hiked up to chest level the way Mr. Jiang preferred. It’s not the first time China’s censors have gone to great lengths to prevent Internet users searching out information on the country’s top leaders. At various times, Chinese language searches for “carrot” on Google have been blocked , apparently because one of the three characters in the word matches the surname of current Chinese president Hu Jintao. There are some inconsistencies in Sina’s apparent effort to quash the speculation surrounding Mr. Jiang. While “myocardial infarction” is blocked, “heart attack” mysteriously is not. Searches for “301 Hospital” that use Chinese characters for the numbers instead of Arabic numerals likewise produce results. As always, it remains unclear whether the censorship effort has managed to calm speculation about Mr. Jiang’s death or encouraged it further. Jiang-related rumors and commentary remained rife Wednesday night on Twitter, which is blocked in China but can be accessed by means of firewall circumvention software. And while Sina’s content police have gotten wise to the image of the empty suit of clothing, it remains available on Google+ . – Josh Chin. Follow him on Twitter @joshchin
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Following Jiang Death Rumors, China’s Rivers Go Missing
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
China
Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
Italy ratified an upgraded Double Tax Agreement (DTA) with China, effective in 2025, to reduce tax burdens, prevent evasion, and enhance investment. The DTA introduces modern provisions aligned with international standards, targeting tax avoidance and improving dispute resolution for Italian businesses.
Italy recently ratified the upgraded Double Tax Agreement (DTA), which will finally take effect in 2025. This agreement was signed in 2019 and was designed to reduce tax burdens, prevent tax evasion, and promote Italian investment in China.
On November 5, 2024, Italy’s Chamber of Deputies gave final approval to the ratification of the 2019 Double Tax Agreement (DTA) between Italy and China (hereinafter, referred to as the “new DTA”).
Set to take effect in 2025, the new DTA is aimed at eliminating double taxation on income, preventing tax evasion, and creating a more favorable environment for Italian businesses operating in China.
The ratification bill for the new DTA consists of four articles, with Article 3 detailing the financial provisions. Starting in 2025, the implementation costs of the agreement are estimated at €10.86 million (US$11.49 million) annually. These costs will be covered by a reduction in the special current expenditure fund allocated in the Italian Ministry of Economy’s 2024 budget, partially drawing from the reserve for the Italian Ministry of Foreign Affairs.
During the parliamentary debate, Deputy Foreign Minister Edmondo Cirielli emphasized the new DTA’s strategic importance, noting that the agreement redefines Italy’s economic and financial framework with China. Cirielli highlighted that the DTA not only strengthens relations with the Chinese government but also supports Italian businesses, which face increasing competition as other European countries have already established double taxation agreements with China. This ratification, therefore, is part of a broader series of diplomatic and economic engagements, leading up to a forthcoming visit by the President of the Italian Republic to China, underscoring Italy’s commitment to fostering bilateral relations and supporting its businesses in China’s complex market landscape.
The newly signed DTA between Italy and China, introduces several modernized provisions aligned with international tax frameworks. Replacing the 1986 DTA, the agreement adopts measures from the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the OECD Multilateral Instrument (MLI), targeting tax avoidance and improving dispute resolution.
The Principal Purpose Test (PPT) clause, inspired by BEPS, is one of the central updates in the new DTA, working to prevent treaty abuse. This clause allows tax benefits to be denied if one of the primary purposes of a transaction or arrangement was to gain a tax advantage, a move to counter tax evasion through treaty-shopping.
| 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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Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in
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