China
Guangdong’s Recipe for Happiness: Fewer People, More Sex
The bedroom has become the latest target in a campaign to make “happiness” keep up with unbridled economic growth in the southern Chinese province of Guangdong, with a senior local official pledging to improve the sex lives of singletons. “There will not be a happy Guangdong without local residents having happy sex lives,” the state-run China Daily quoted Zhang Feng, deputy secretary-general of the Guangdong provincial government, as saying on the eve of national Singles Day on Friday (so designated because the date is 11/11/11). More than 20% of single people suffered from a feeling of sexual repression in Guangdong — China’s richest and most populous province — according to Mr. Zhang, who is also director of Guangdong’s family-planning commission and chairman of the Guangdong Sexology Association. Statistics from the family-planning commission show that, on average, Chinese people are now getting married at the age of 30, compared with 20 about a decade ago, but are also attaining sexual maturity at an earlier age, the China Daily said. “That indicates the Chinese have more years as sexually mature singles,” Mr. Zhang was quoted as saying. He also called for better sex education, urging relevant departments to offer more help to migrant workers who were “suffering severe sexual repression as they had to live away from their spouses.” The report did not offer explicit details concerning how Mr. Zhang planned to encourage the province’s residents to step up their sexual activity. The proposal is the latest manifestation of a ”happy Guangdong” campaign, which aims to focus government efforts on improving public services and other quality-of-life issues, rather than just promoting breakneck GDP growth. In July, Guangdong made headlines when it became the first Chinese province to publicly apply for permission to ease the “one-child” policy, which imposes fines and other penalties on most — though not all — urban couples who have more than one child. Local authorities asked the central government to allow couples in which either the husband or wife was an only child to have more than one baby. At the time, Mr. Zhang was quoted in state media saying the relaxation wouldn’t cause a fast increase in the population because of the high cost of natal care and child rearing. However, Mr. Zhang was quoted in state media last month saying Guangdong had now dropped that application and didn’t plan any significant changes to its family-planning policies in the next five years. He said that the family-planning policy had relieved the province of an extra 35 million people, without explaining how that figure was calculated. He also said that Guangdong had set a target of keeping its population — 104.3 million according to the latest census last year — below 111 million through 2015. The abrupt turnaround will come as a disappointment to leading Chinese demographers who have been urging the government for years to ease the one-child policy, which they say is leading China toward a demographic crisis over the next two decades . They argue that China’s real fertility rate has fallen well below official estimates and that, as a result, the labor force will start to shrink by 2016, while the number of retired people will balloon, placing a huge financial burden on the state and the working population. The national Familiy Planning Commission, however, has so far allowed only small pilot schemes in certain small regions, and committed only to “strengthen” the family planing policy over the next five years, while keeping the birth rate low, and improving the “quality” of the population. – Jeremy Page
The bedroom has become the latest target in a campaign to make “happiness” keep up with unbridled economic growth in the southern Chinese province of Guangdong, with a senior local official pledging to improve the sex lives of singletons. “There will not be a happy Guangdong without local residents having happy sex lives,” the state-run China Daily quoted Zhang Feng, deputy secretary-general of the Guangdong provincial government, as saying on the eve of national Singles Day on Friday (so designated because the date is 11/11/11). More than 20% of single people suffered from a feeling of sexual repression in Guangdong — China’s richest and most populous province — according to Mr. Zhang, who is also director of Guangdong’s family-planning commission and chairman of the Guangdong Sexology Association. Statistics from the family-planning commission show that, on average, Chinese people are now getting married at the age of 30, compared with 20 about a decade ago, but are also attaining sexual maturity at an earlier age, the China Daily said. “That indicates the Chinese have more years as sexually mature singles,” Mr. Zhang was quoted as saying. He also called for better sex education, urging relevant departments to offer more help to migrant workers who were “suffering severe sexual repression as they had to live away from their spouses.” The report did not offer explicit details concerning how Mr. Zhang planned to encourage the province’s residents to step up their sexual activity. The proposal is the latest manifestation of a ”happy Guangdong” campaign, which aims to focus government efforts on improving public services and other quality-of-life issues, rather than just promoting breakneck GDP growth. In July, Guangdong made headlines when it became the first Chinese province to publicly apply for permission to ease the “one-child” policy, which imposes fines and other penalties on most — though not all — urban couples who have more than one child. Local authorities asked the central government to allow couples in which either the husband or wife was an only child to have more than one baby. At the time, Mr. Zhang was quoted in state media saying the relaxation wouldn’t cause a fast increase in the population because of the high cost of natal care and child rearing. However, Mr. Zhang was quoted in state media last month saying Guangdong had now dropped that application and didn’t plan any significant changes to its family-planning policies in the next five years. He said that the family-planning policy had relieved the province of an extra 35 million people, without explaining how that figure was calculated. He also said that Guangdong had set a target of keeping its population — 104.3 million according to the latest census last year — below 111 million through 2015. The abrupt turnaround will come as a disappointment to leading Chinese demographers who have been urging the government for years to ease the one-child policy, which they say is leading China toward a demographic crisis over the next two decades . They argue that China’s real fertility rate has fallen well below official estimates and that, as a result, the labor force will start to shrink by 2016, while the number of retired people will balloon, placing a huge financial burden on the state and the working population. The national Familiy Planning Commission, however, has so far allowed only small pilot schemes in certain small regions, and committed only to “strengthen” the family planing policy over the next five years, while keeping the birth rate low, and improving the “quality” of the population. – Jeremy Page
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Guangdong’s Recipe for Happiness: Fewer People, More Sex
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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