China
What Does a New Dragon Stamp Say About China?
Associated Press A man shows Year of the Dragon stamps in Jiaxing on Thursday. Many Chinese lined up on Thursday to buy a stamp commemorating China’s Year of the Dragon, which begins Jan. 23. But the image of the only fictional Chinese Zodiac animal has caused controversy and criticism online for appearing evil and ferocious. For many, the image of a fang-baring, paw-brandishing dragon is too belligerent. In response, stamp designer Chen Shaohua said that the authoritative and powerful image of the dragon was meant to demonstrate a confident and rising China. On his personal blog , he compared his design to the previous two dragon stamps. He said the one for 1988 was a traditional Chinese paper-cut dragon because China was in a difficult time of reform then, and the design intentionally played down the dragon’s stateliness. In 2000, the last Year of the Dragon, the government was promoting a policy of keeping a low international profile, so the design depicted an elegant and sagacious dragon. For the year of 2012, he wrote, “As one of the most influential major states in the world, China is rebuilding its national confidence.” But many disagree. On his microblogging Sina Weibo account, Wang Ran, chief executive of boutique investment bank China eCapital Corp., compared the dragon to China’s notorious city inspectors, who are sometimes caught on camera beating up street vendors. “City inspectors are now on a stamp,” he tweeted. Writer Zhang Yihe wrote on her weibo she was “scared to death” by the stamp. Scholar Wu Jiaxiang uses the Chinese expression 张牙舞爪, which literally means “baring fangs and brandish paws,” to describe the image. He says animals make those gestures when they are scared or startled. In a separate post, he used to stamp image to accompany his tweet about Chinese President Hu Jintao’s newly published essay that urges the country to defend against the West’s assault on the country’s culture and ideology. Yet writer Xiong Peiyun says the image can be interpreted in other ways, “One is locking the ruler in a cage, and the other is keeping the power outside.” –Li Yuan; follow her on Sina Weibo @CWSJ
- Associated Press
- A man shows Year of the Dragon stamps in Jiaxing on Thursday.
Many Chinese lined up on Thursday to buy a stamp commemorating China’s Year of the Dragon, which begins Jan. 23. But the image of the only fictional Chinese Zodiac animal has caused controversy and criticism online for appearing evil and ferocious.
For many, the image of a fang-baring, paw-brandishing dragon is too belligerent. In response, stamp designer Chen Shaohua said that the authoritative and powerful image of the dragon was meant to demonstrate a confident and rising China.
On his personal blog , he compared his design to the previous two dragon stamps. He said the one for 1988 was a traditional Chinese paper-cut dragon because China was in a difficult time of reform then, and the design intentionally played down the dragon’s stateliness. In 2000, the last Year of the Dragon, the government was promoting a policy of keeping a low international profile, so the design depicted an elegant and sagacious dragon.
For the year of 2012, he wrote, “As one of the most influential major states in the world, China is rebuilding its national confidence.”
But many disagree. On his microblogging Sina Weibo account, Wang Ran, chief executive of boutique investment bank China eCapital Corp., compared the dragon to China’s notorious city inspectors, who are sometimes caught on camera beating up street vendors. “City inspectors are now on a stamp,” he tweeted.
Writer Zhang Yihe wrote on her weibo she was “scared to death” by the stamp. Scholar Wu Jiaxiang uses the Chinese expression 张牙舞爪, which literally means “baring fangs and brandish paws,” to describe the image. He says animals make those gestures when they are scared or startled. In a separate post, he used to stamp image to accompany his tweet about Chinese President Hu Jintao’s newly published essay that urges the country to defend against the West’s assault on the country’s culture and ideology.
Yet writer Xiong Peiyun says the image can be interpreted in other ways, “One is locking the ruler in a cage, and the other is keeping the power outside.”
–Li Yuan; follow her on Sina Weibo @CWSJ
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
China continues to lose arable land because of erosion and economic development.
The country’s per capita income was at $6,567 (IMF, 98th) in 2009.
Nevertheless, key bottlenecks continue to constrain growth.
Agricultural output has been vulnerable to the effects of weather, while industry has been more directly influenced by the government.
The technological level and quality standards of its industry as a whole are still fairly low, notwithstanding a marked change since 2000, spurred in part by foreign investment.
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.
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.
“The growth rate (for ODI) in the next few years will be much higher than previous years,” Shen said, without elaborating.
China is expected to have 200 million cars on the road by 2020, increasing pressure on energy security and the environment, government officials said yesterday.
In large part as a result of economic liberalization policies, the GDP quadrupled between 1978 and 1998, and foreign investment soared during the 1990s.
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.
Horses, donkeys, and mules are work animals in the north, while oxen and water buffalo are used for plowing chiefly in the south.
There are also extensive iron-ore deposits; the largest mines are at Anshan and Benxi, in Liaoning province.
China is among the world’s four top producers of antimony, magnesium, tin, tungsten, and zinc, and ranks second (after the United States) in the production of salt, sixth in gold, and eighth in lead ore.
Coal is the single most important energy source in China; coal-fired thermal electric generators provide over 70% of the country’s electric power.
Other leading ports are rail termini, such as Lüshun (formerly Port Arthur, the port of Dalian), on the South Manchuria RR; and Qingdao, on the line from Jinan.
Read this article:
What Does a New Dragon Stamp Say About China?
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. |
Read the rest of the original article.
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
- China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
- Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
- China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
- U.S. national debt is its Achilles’ heel, but China sees it as an opportunity
- Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
- Vietnam’s Approach to China: A Balance of Cooperation and Struggle