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Copyright © 2014 Review Ebooks, All trademarks are the property of the respective trademark owners. Washington may believe that Beijing is overreacting, since the Pentagon's latest annual report to the US Congress is by and large business as usual. But Beijing, too, sees Washington as overreacting: Not only does this year's report devote considerably more space to the South China Sea issue, but it portrays Chinese moves there as "coercive", misrepresenting Chinese actions and intentions. This may not seem like a big deal, given the lingering tension in the South China Sea, and given the fact that mutual finger-pointing has become the new normal for the Pentagon and its Chinese counterpart; particularly since they are conscious of and serious about negotiating the potential risks of escalating tensions. On Thursday, one day prior to the report's release, the chairmen of the two countries' Joint Chiefs of Staff spoke to each other via a video teleconference and committed to communicating more frequently to "address key issues".
Such contact, along with the formulation of a shared code of conduct for the two militaries' unexpected encounters, assure us that, risky as they look, the tense encounters between the two countries' naval and air forces are being managed professionally so as to not lead to unwanted outcomes. That is why we should not underestimate the contradictory ways Beijing and Washington describe what is happening in the South China Sea.
Certainly there is no easy way to undo the confusions surrounding the South China Sea, at least before a certain degree of consensus is maneuvered on the causation at work. But the picture would appear clearer if Beijing made its case more solid from the perspectives of both history and international law, and Washington stopped refusing the basic truth that Beijing is not making new, aggressive territorial claims, nor is it acting forcefully unprovoked.
More importantly, the US should not categorically ignore that Beijing persistently appeals for negotiations to resolve the disputes. The Permanent Court of Arbitration in The Hague is expected to rule on the unilateral arbitration case submitted by the Philippines on its territorial disputes with China in the South China Sea in a few weeks.
Despite Beijing's consistent stance that the South China Sea islands and reefs mentioned in the arbitration case do not fall into the Philippines' territory and it is fully within its rights not to participate in the case, Beijing should brace itself for fending off international pressure following the ruling, since it is widely believed that the ruling may be unfavorable to China. However, the numerous restrictions the court faces also mean China should not be over-pessimistic about its ruling. Such factors should be taken into consideration before the court rushes to a make a ruling on the Philippine's case. In the run-up to the ruling, the Unites States, however, has gone all out to pressure China into accepting whatever ruling the court delivers.
A series of White House and Pentagon officials, including US President Barack Obama, Secretary of Defense Ashton Carter and Commander of the US Pacific Command Harry Harris, have successively urged China to comply with the international order that is based on "laws and rules", although the US itself is one of the few countries which has not ratified the UN sea convention.
China should rebuff such "international pressure" and make use of available international occasions to clarify its stance and prove the "inefficacy" of the forced arbitration case. Unofficial channels, such as academic exchanges, should also be used to make China's reasonable voice heard to the outside world.
Besides, Alibaba and the Western companies hold different views on how to fight fake goods.
Third, it is improper to impose the duty of fighting counterfeiting onto the e-commerce platforms only. Authorities used to issue a guiding document that promised to effectively curb IPR violations in e-commerce in China. TWO PORCELAIN BOWLS, which the owner claims were worth about 260 million yuan ($39 million), were broken when he was transporting them on a flight from Shanghai to Tianjin in March.
It is understandable that the law limits the compensation for lost or damaged baggage to 100 yuan per kilogram or less, as air delivery is not without risks. However, according to the law on civil aviation, the limited compensation does not apply to passengers whose luggage is damaged through carelessness by the carrier. More than a decade ago, the Standing Committee of the National People's Congress, the country's top legislative body, approved the Convention for the Unification of Certain Rules for International Carriage by Air, which stipulates that a passenger can receive up to 10,900 yuan in compensation for lost luggage. Yet the rule is yet to be adopted, so carriers can limit the compensation they pay for lost or damaged luggage.
Still, using the 100-yuan-per-kilogram rule, which has not been revised in over 10 years, to refuse to properly compensate passengers, constitutes a violation of consumers' rights, even though the passenger failed to declare the valuables in the baggage. A FEMALE student at Beijing Institute of Technology received a text message requesting she donate an egg to help infertile women, for which she would be paid 8,000 ($1,226) to 40,000 yuan within 15 days according to height, appearance and education level. But such an offer might appeal to some university students willing to ignore the illegality and the risks. For young women, a large dose might produce more than 20 eggs each time, which could enlarge her ovaries, and in some cases, it could cause bleeding or even necrosis, meaning she will become infertile. Although residents in Hong Kong enjoy freedom of speech and freedom of association under the Hong Kong Basic Law, the Basic Law also states such freedoms must be carried out according to the Basic Law, other laws and ordinances, with the Basic Law taking precedence. The words and behavior of these groups are not in accordance with the law as they not only challenge the principle of "One Country, Two Systems", but also violate the Hong Kong Basic Law, as well as the Hong Kong Crimes Ordinance and the Hong Kong Societies Ordinance.
In any country, freedom of speech and forming associations face boundaries, that means, they should not violate the interests of the country, society and the legal freedom and rights of other citizens. People and organizations promoting "Hong Kong independence" not only defy the Basic Law and the SAR government, but also challenge the interests of the country, the SAR and the Chinese people. Some people suppose that Article 23 in the Basic Law, which stipulates the SAR enact laws on its own to prohibit any act of treason, secession, sedition, subversion against the Central People's Government, means it is impossible to hold accountable those responsible for actions that are suspected of endangering national security. As stated in the Hong Kong Basic Law, the SAR is an inalienable part of the People's Republic of China. Thus speeches that advocate "Hong Kong independence" may be treason or sedition under Hong Kong Crimes Ordinance. This is why so-called parties that advocate Hong Kong "independence" cannot be legally registered in Hong Kong.
The principle of "One country, Two Systems" is the basic policy by which the central government deals with Hong Kong issues. In the context of "One Country, Two Systems", these groups advocating Hong Kong's "independence" and seeking to make Hong Kong a city state, pose a great danger to national unity and territorial integrity. And their illegal words and actions not only deal a blow to the order of Hong Kong society and ruin the lives of other residents, but also tarnish the image of Hong Kong as a city that is proud of its rule of law. In the past several months, the US military has visibly ratcheted up its posture in the South China Sea.
The US knows full well that it is impossible to deter China from defending its rights in the South China Sea.
Despite all the media hype about potential military confrontation and armed conflicts in the region, it is unlikely that they are the intended result of the US' actions.
In addition, despite their serious divide on the South China Sea issue, China and the US do share one thing in common.
Based on the above analysis, to advance its rebalancing strategy, the US will continue to meddle in the South China Sea issue, using political, diplomatic, military tools and public opinion to challenge China's territorial sovereignty and maritime rights and interests so as to build obstacles to China's development. With less than one month before the national college entrance examination, the news that Jiangsu province would offer some of its college enrollment quota to students from less developed regions created panic among students and parents in the East China province.
The education authorities later stated that the 38,000 university places being offered to students from the central and western regions would not mean fewer students from the province would be enrolled in colleges. Both the education authorities and some media outlets are responsible for the angry response to the news, as the former failed to give a clear explanation about the reform, while the latter misinterpreted it.
Lacking a detailed explanation about the change, many parents and students assumed it would mean the quota for students from the central and western regions would be at the expense of children in Jiangsu. The education authorities should have made clear when they released the news that only 9,000 of the 38,000 students will be recruited as undergraduates, and the remainder will be enrolled for junior college education and vocational training.
Jiangsu's actual college enrollment quota from the province may only be reduced by 5,000 at most, and the reduction for key universities may be only 2,000 to 3,000, with colleges in other provinces recruiting more students from Jiangsu province to compensate for this. Some students and parents supposed the reduction in the number of exam candidates would mean that it would be even harder than before to pass the national college entrance examination in Jiangsu.
If the college enrollment quota in Jiangsu province doesn't reduce accordingly, the college enrollment rate in Jiangsu province will increase. It's unreasonable to only take the reduction of the enrollment quota into consideration while ignoring the fact that the number of candidates taking the exam is declining. First, educational authorities should better explain their plans to the public in a timely manner, because college enrollment is related to the interests of students and their families.
Second, there should be a unified standard of college enrollment adjustment in the developed regions. It will be a huge challenge for the education authorities to map out a plan that balances the interests of the developed and the underdeveloped regions.
Having served as consul general in Shanghai and chief minister at the Japanese embassy in China previously, Yokoi already has connections with the country. At a farewell party seven Japan-China friendship groups threw in Tokyo on Friday, Yokoi told his audience that building trust remains the crux of the issue.
The two countries still have various unsettled issues to resolve, including their territorial dispute over the Diaoyu Islands in the East China Sea. He is the first of the "China school" of diplomats, officers trained for years in the Chinese language in China to hold the ambassadorship. Japanese foreign ministry officers who are considered China specialists have increasingly been attacked by Japan's right wing. When the Abe administration was making its decision to "purchase" some of the Diaoyu Islands, Japan ignored the advice of its then ambassador to China, Uichiro Niwa, who warned it could spark a crisis. Yokoi will have his work cut out trying to reduce his country's disagreements and misunderstandings with China as he is supposed to. In the last two years Abe has taken a summit meeting with Chinese President Xi Jinping to be a top diplomatic accomplishment.
In remarks at the Foreign Correspondents' Club of Japan in Tokyo in 2013, Niwa said the two countries could have divorced if they were a couple.
While their relationship is gradually warm, the two countries still need to put more efforts into moving it forward. The previous Japanese ambassador to China, Masato Kitera, assumed office in December 2012 amid what he called "a dry and cold wind like that of the Beijing winter blowing between the two countries". Yutaka Yokoi took over the ambassadorship on Sunday when, in Kitera's words, "the warm sunshine of spring" is beginning to take hold. The foreign minister of Japan just paid an official visit to Beijing, the first after a four-year-and-a-half hiatus. There appears to be an unannounced consensus that China-Japan relations have sailed past their most difficult time in decades and are on the mend, albeit slowly. It is thus understandable that well-wishers in both countries will place more expectations on the shoulders of the new diplomatic envoy. Counting his time in Beijing learning Chinese, Yutaka has lived for more than 15 years in China, and, in his own words, "witnessed the entire process of China's reform and opening-up".
While the prospects of a serious meeting between the leaders of the two countries remain slim, there is little an ambassador can do to make a substantial difference. The Japanese foreign minister's latest visit was the outcome of a shared feeling that the damaged ties should no longer be left unattended and allowed to further deteriorate. After they learned on the weekend that 38,000 places from Jiangsu's quota for university enrollment will be given to high school graduates from provinces or regions with meager education resources, the anger some people in East China's Jiangsu province have expressed is understandable, as they worry it will mean their own kids will have less chance of getting enrolled in good universities. Despite the promises from both the local and central education authorities that the enrollment rate for local students by universities will not drop this year, more needs to be done to convince local residents that the authorities are serious about what they say. The move to give more university places to students from provinces or regions with fewer institutes of higher learning is a bid by the central government to promote education equality by getting all provinces and regions to more equally share educational resources. Nevertheless, there can never be too much caution in designing and putting into practice such a measure.
Of all the concerns that need to be taken into consideration, the primary one is that the interests of local residents should be well balanced.
Reforms concerning the enrollment of college students are no small matter, as they involve the interests of all families who hope their children will go to college.
THE NATIONAL BUREAU of Statistics recently released the average salaries in various sectors last year. Those working in the financial sector still enjoy the highest average salary of 114,777 yuan ($17,572) a year, almost twice the average for all urban employees.
The excessive liquidity and fluctuations in the securities market in recent years have contributed to the high average salary in the financial sector, as have fast growing credit loans and underground financial activities. If the current trend continues, it will not only widen the income gap, but also create bubbles, one of the biggest risks to the economy. It is time for the regulators to accelerate economic restructuring so that the real economy gets a bigger share of the cake.
It is time to accelerate economic restructuring to get rid of these risks to China's economy. DIDI CHUXING, the domestic ride-hailing app developer and service provider, announced on Friday that it had received $1 billion from Apple.
Apple has already derived huge profits from Chinese consumers, even more than in the United States.
Meanwhile, Didi Chuxing not only gets $1 billion, but also a rare opportunity to enter the Apple chain.
RECENTLY, some patients complained that medical staff at a community health service center affiliated to Chongqing No 6 People's Hospital injected them with the vaccines that may not the ones they had paid for.
The local authorities said the vaccines were the right ones, but some of the medical staff derived illicit profits and they are conducting further investigations. The scandal in March involving expired and improperly stored vaccines that were sold to hospitals throughout China dealt a severe blow to people's trust in the related authorities and any further incident might lead to widespread panic if not properly handled.
In order to prevent such panic, the authorities cannot afford any delay and must respond to people's questions as quickly as possible.
The concerns around vaccines at the moment mean the authorities have to be completely transparent and be truthful in the statements they issue.
Despite having claimed more than once that she wants to "preserve the status quo" in cross-Straits relations, she is yet to convince people that her party, which has long refused to acknowledge the 1992 Consensus that Taiwan and the mainland are both parts of one China, will give up pursuing the island's full "independence". The DPP's latest attempts to break the cultural bond shared by the mainland and Taiwan and seek "cultural independence" are a case in point.
The island's "formal independence" is undoubtedly pie in the sky in the face of the mainland's unequivocal opposition, but the DPP's "cultural independence" campaign, if not seriously dealt with, may add more uncertainties to cross-Straits ties in the years to come. Playing the "cultural independence" card has helped the DPP win several key elections in recent years, including this year's leadership election, and Tsai's party is expected to make it a political priority after it officially assumes power. In effect, the tactic employed by Lee Teng-hui, the initiator of Taiwan's "de-Sinicization campaign," and his successor as the island's leader Chen Shui-bian has resulted in many young people having a misperception of history and a lack of national identity. This already poses a grave challenge to the peaceful development of cross-Straits relations, as well as the future reunification of the mainland and Taiwan. On the one hand, the ruling DPP will likely keep fooling Taiwan residents by equivocating about what will be done to maintain the "status quo".
As "torchbearers" of "Taiwan independence" propaganda, Lee and Chen changed "Japanese colonization" into "Japanese governance" and Taiwan's day of liberation into "day of suffering". After regaining the island's leadership after eight years, the DPP has embarked on the political containment of the Kuomintang, which painstakingly put cross-Straits relations back onto the right track by endorsing the 1992 Consensus during its eight-year rule.
Such "de-Sinicization moves" will become a ticking time bomb in cross-Straits exchanges and a major threat to regional stability. The truth is, provoking the pro-independence mentality to distract public frustration toward Taiwan's poor economic performance, as Chen did before 2008, will get the DPP nowhere. The "cultural independence" trick will neither improve local residents' livelihoods nor steer the cross-Straits relationship in the right direction. The project is the largest of all cultural exchange programs signed between China and the United States, and it will not only have far-reaching influences on the global theme park market and the development of China's cultural and leisure industries, but also on the hospitality industry, cultural creation industry and other service industries in the Yangtze River Delta. The Walt Disney Company had long had its eyes on the Yangtze River Delta, the most developed, most densely populated and most market-radiant area in China.
In fact, China's theme park industry has been bucking the trend of worldwide sluggish spending since the outbreak of the global financial crisis in 2008. However, the picture is not all rosy for theme park companies in China as there have also been failures. Undoubtedly, the opening of the Disney theme park in Shanghai is a creative move - and will prove to be a milestone - in Sino-American cultural exchanges. And it is something that it will need to continue doing, as China's culture consumers, including theme park goers, are fast maturing. It is surely not easy to find the best business model to sustain a money-spinning theme park.
Anyone in the entertainment industry will have to strive hard to create a unique experience for every customer if they want to succeed in the increasingly competitive Chinese market.
The author is a research fellow at Literature Institute of Shanghai Academy of Social Sciences and the deputy chief of the Shanghai Dongfang Public Culture Evaluation Center. When China joined the World Trade Organization in 2001, it agreed to a 15-year transitional period during which other WTO members were allowed to apply the "nonmarket economy methodology" in anti-dumping procedures concerning China. Under this methodology, the trade officials of the EU Commission are entitled to estimate by analogy the domestic production cost and prices of export products, instead of basing their investigation on domestic market prices.
The Chinese government argues that when the transitional period ends on December 11, 2016, the trade officials from the Commission will no longer be entitled to apply the nonmarket economy methodology.
Conversely, some lawyers argue that until the other WTO members grant market economy status to China in their national legislation, their anti-dumping investigators can continue to use the nonmarket economy methodology.


To deny market economy status to China would be a strong political signal from the EU and could cause the deterioration of the warming political relationship between the two economies. One of the main drivers of the market economy status debate is the fear of job losses in Europe's less competitive manufacturing industries. The author is president of the business-led international association ChinaEU, which is headquartered in Brussels.
Out of the members present, 546 voted against treating China as market economy, 77 abstained and only 28 members voted in favor. First of all, trade rules, anti-dumping and cost calculations are extremely technical and, to some extent, most European Parliament members are no different from passers-by on the streets in terms of their knowledge of the issues involved. They are prone to be influenced by biased reports (bear in mind one of the widely-circulated reports on this topic is from a think tank based in the United States) and many of them have not set foot in China. Second, European businesses, especially those investing and trading in China won't agree with the parliamentarians who voted against market economy status for China. This means if the decision is made on the basis of one country one vote, the result will be far different from that on Thursday. What's more, the majority of the members of the World Trade Organization have already recognized China's market economy status. Instead of closing its doors and imposing protectionism, the EU should recognize that more opportunities will occur as China continues to push forward its market-oriented reforms and open-up further.
Both sides should admit each other's strengths and weakness with constructive, visionary and forward-looking attitudes. Since the second quarter of 2014, the appreciation expectation of the renminbi against the dollar in the market has been reversed to a depreciation expectation.
The key reason for the reversal is that the effective exchange rate of the renminbi appreciated too fast from 2013 to 2014, which could not be supported by economic fundamentals.
From the second quarter of 2014 till July 2015, although there was depreciation pressure, the exchange rate of the renminbi against the dollar remained unchanged.
To show that the PBOC is determined to decrease its intervention and to facilitate the renminbi's inclusion into the special drawing rights reserve currency basket of the International Monetary Fund, the PBOC initiated a reform of the renminbi's daily opening price on Aug 11. On the one hand, the depreciation pressure was so strong that it seemingly was beyond the expectations of the PBOC. Because the PBOC had already given up the management of the daily price of renminbi vs the dollar, the new tool used to stabilize the renminbi's exchange rate was open market operations, which meant the central bank has to sell dollars and buy renminbi. If the PBOC conducted open market operations only in the CNY market, the exchange rate spread between the CNY and the CNH markets would expand, which would bring about stronger pressure for renminbi depreciation. So, although without official acknowledgement, the PBOC was believed to be conducting open market operations on both the CNY and the CNH markets to avoid depreciation of the renminbi. However, if there is depreciation pressure and the PBOC does not allow this pressure to be released, there are certain costs.
The second cost of refusing the renminbi's depreciation is the shrinking of China's foreign exchange reserves. Although the valuation effect of the fluctuations of major currencies may have contributed to the shrinking of the foreign exchange reserves, my own calculation suggests that that could explain only about a third of the shrinkage. In fact, the real loss of foreign exchange reserves may be much larger than the abovementioned number, if some market rumors are to be believed that the PBOC tried to hide the real amount of dollar assets it sold on the market. However, due to concerns that monetary loosening would push down the interest rate spread between China and the United States and then further exacerbate depreciation pressure against the renminbi, the central bank has postponed RRR and interest rate cuts for a long time, which not only increases the downward pressure on the real economy, but also results in stock market fluctuations. So if the PBOC continues to maintain the stability of the exchange rate against the dollar and refuses to release the depreciation pressure, the costs would finally become unaffordable for the Chinese economy.
Last but not least, to avoid the downward overshooting of the renminbi's exchange rate, the PBOC should strengthen controls on short-term capital flows to avoid a vicious spiral between depreciation and capital outflow. The author is senior research fellow and head of the department of international investment, Institute of World Economics and Politics, Chinese Academy of Social Sciences.
During a recent business trip to Copenhagen, I rolled my suitcase into the hall of the central railway station and followed the signs to find a restroom. With coin in hand, I looked around for a slot at the entrance, only to find tucked inside was a piece of paper that read, in English and Danish, "Credit card only".
Five krone is about the average in Europe, but my most expensive experience was in Lucerne, Switzerland. That means the cost of using a public toilet in some places is higher than the average daily per capita income in some less-developed countries. Interestingly, despite higher living standards and a sophisticated financial services sector, Denmark and Switzerland have fully recognized the market economy status of China, which generally lags behind in terms of the hygiene of its public restrooms, either on the street, at stations or at tourist attractions.
On most occasions, users will be charged to use such facilities, even in places like McDonald's.
What's more, many cannot speak European languages, although they can usually find a public restroom by following the universally recognized male and female figures used on most signboards.
Europeans would be more welcoming if they make public restrooms cheaper to use, convenient to access, and use signage that included Chinese characters when necessary. I think I must be cursed with the ability to experience the bizarre and weird things that life has to offer - let's face it, as a journalist you're always looking for something that lifts a story above the mundane. Back in London after a monthlong trip that included a first stay in Beijing and my umpteenth visit to Ho Chi Minh City, I'm looking back at some of the odder moments in what was ultimately a very successful and personally satisfying trip. I knew I'd get a friendly welcome, if the Beijing expatriates in my office here in London were anything to go by.
I was inundated with suggestions of things to do, places to go, and obviously things to eat. In this day and age of smartphones - and Beijingers seem to have them glued to their hands - photographing one's food before eating it seems to be the norm.
But I had to stifle a laugh when the chef at our table, preparing to carve the duck, white gloves and all, offered us a photo opportunity before he set to work. What they don't warn you about in Beijing are the silent but deadly electric scooters and delivery trucks.
Let me tell you, I almost died a million times before I got used to having eyes in the back of my head. But I was impressed by the orderly flow of traffic on the wide boulevards, although one friend warned me that Chinese drivers had only had about 20 years to get used to traffic flow, "so lane discipline can be an issue". I know comparisons are odious, and the great thing about travel is experiencing a different culture in each country. I've always been a believer in the theory that the earlier a country is in its developing stage, the more family members are needed to greet or say farewell to a traveler.
So it was a pleasure to head for Thu Duc, about 30 kilometers outside the city, for a celebration of my wife's cousin's 50 years as a nun in the Benedictine order.
There was a mass, and afterward a lunch in the grounds given by the family (it's a huge family - there must have been 40 or 50 members there).
Then I needed to head for the bathroom, and when I asked a waiter where it was, he summoned a giggling novice nun to show me the way.
The world is watching China with great interest, and no little concern, as this great industrial nation embraces the next phase in economic and social development. The Chinese economy is the second largest in the world and will become the largest in due course.
Now, as we all experience the influence of modern communications technology, the internet in particular, and as social media and big data become so important in our lives, the Chinese economy is in transition toward a new balance, where service industries will become more important and the domestic economy will become more important compared with the historic reliance on exports. But the new economy - made up of companies of diverse nature - is not easily measured in terms of its progress or the performance of the companies occupying the service sector.
The world has moved rapidly to a world of big data - the powerful computers and mobile devices that populate the world today can generate masses of data.
Among all the progress going on around us, it is heartening indeed to see a highly innovative Chinese company taking a clear lead with technology development and application. BBD is playing a particularly important part in enabling deep and transparent analytics to qualify company data, which will be especially important in tracking new economy companies. The new economy index recently introduced by BBD as part of the launch of its activities in the United Kingdom has been widely acclaimed as an important breakthrough, and it has special relevance to the tracking and measurement of the Chinese economy from old to new. As a businessman working around the world, I am very excited to see BBD extend its activities globally - and particularly happy to see a its operation in the heart of London's fintech sector. For those with sufficient knowledge of information technology, software and the latest technological developments in data handling, the discussion has shifted from big data to metadata. Tao's work on developing and testing extremely sophisticated science-based algorithms has been highlighted in many publications, such as Nature News, MIT Technology Review and Harvard Business Review.
In a world where artificial intelligence and machine learning are racing ahead alongside developments in robotics and genetics, and where technologies converge and collide more than ever before, my sense as an observer is that BBD is an organization capable of helping to change that world to good effect. For the time being, global economics, finance, financial and risk management represent sufficient challenges for this young company. Companies such as BBD are already working with government agencies and academic centers to grapple with the dilemmas and difficulties of data ownership, data sharing, open data, and aspects of privacy and confidentiality.
It was very interesting for me to meet Gao Jinkang, dean of the Law School at Southwestern University of Finance and Economics in Chengdu and hear of the dedicated work he and his team are doing in the field of big data standards and regulation.
In conclusion, working beside the young executive team at BBD, it is clear to see why they speak enthusiastically about their acronym standing not only for Business Big Data, but also building big dreams. The author is a professor and entrepreneur in residence at the Judge Business School in Cambridge University.
The whole world seems to be talking about the People's Daily interview on May 9 with an anonymous "authoritative figure", a one-and-a-quarter-page comprehensive review of the Chinese economy. The trajectory of China's GDP growth will stay L-shaped, instead of U-shaped or V-shaped, after it fell from an annualized 12 percent in 2010 to 6.9 percent in 2015, said the "authoritative figure".
The planned range for this year's GDP growth has been set by the government to be no lower than 6.5 percent. It means the economy is probably at the turn of the "L", with its growth rate slashed almost by half, and it won't pick up for the next couple of years. Third, a very serious concern with the country's soaring debt level as it poses a threat of "systemic financial risks". Deleveraging, or cutting down indebtedness, is in fact listed as one of the five tasks of China's supply-side reform for 2016. Overseas observers say they see an inherent contradiction: Since the economy's recent growth was to such a great extent driven by debt, how could any effort at debt control not cause a deeper slowdown?
Indeed, making state-owned banks swap their loans into equity ownership is only a way to reduce debt in the accounting books, and cannot be considered an elixir.
A large-scale, campaign-style deleveraging effort is only thinkable by involving private capital. Chinese officials must have watched with jealousy the groups of the country's newly rich people touring abroad buying not just high fashion, but new houses and other assets, along with residential status and a second travel document. Yet how to work with people like them, by providing them with a duly protected new channel of investment, is an area in which China has yet to come up with a comprehensive plan in the many years since the door was opened to private capital in a limited number of industries and services. Despite the comprehensive diagnosis of the economy's state, China has yet to come up with a comprehensive therapy, one in which private capital, or the people's financial power, is to play an indispensable role.
Xi visited the offices of three mainstream media outlets, stressing the urgency and significance of embracing new media. New media have expanded across China, with Jiemian and The Paper in Shanghai, Jiupai in Central China's Hubei province, and the Cover in Southwest China's Sichuan province. According to a China Internet Network Information Center report issued in July, the number of smartphone users in the country is 620 million, which reflects the huge market for mobile reading. As more and more traditional media outlets direct their attention to mobile apps, uploading content from print editions to the internet alone will not be enough to draw readers and to shift to new media.
Publishers should also use a combination of new methods to present news, because readers and viewers today demand more and varied information. Therefore, journalists need to radically change the way they approach news, which essentially means the traditional media have to change the way they tell a story and train their journalists in new media skills. More importantly, the traditional media ought to make more effort to engage and interact with readers and viewers, who in turn can make greater contributions to the presentation of a story.
Tian Zhihui is professor of new media studies at the Communication University of China, Beijing. But the text of the Pentagon's unclassified 2016 report on China's military and security developments has already provoked "strong dissatisfaction and firm opposition" from Beijing. Instead, it lurks in the quiet accumulation of negative mutual perceptions, and the subsequent potential for misjudgment. For example, the court enjoys no jurisdiction over sovereignty disputes or maritime demarcation, and China declared in 2006 that it excluded compulsory arbitration under the UN Convention on the Law of the Sea. The annual trade volume of counterfeits was almost $461 billion, or 2.5 percent of the global total trade in 2013. Alibaba only forbids goods that prove fake, while Western luxury brands insist that all sales channels beside their own should be cut. The airline says it will compensate him at its fixed rate of 100 yuan per kilogram because they were in the baggage and not declared as valuables or fragile articles. Egg retrieval needs a certain dose of injections for ovarian stimulation before the operation, which may damage the donor's ovaries.
It is a local administrative region that enjoys high degree of autonomy but is directly under the jurisdiction of the central government.
Hong Kong's Societies Ordinance also stipulates the principle of "no violation of national security, public security and public order" in the process of registration and operation of societies.
They not only undermine the principle of "One country, Two Systems", but also threaten national sovereignty and national interests. By using "freedom of navigation" as a pretext, the US has been directly challenging China's sovereignty and maritime rights and interests in the South China Sea and siding with the Philippines against China. By deploying military assets on top of a series of diplomatic and public opinion campaigns, Washington hopes to pressure China into accepting a settlement of the disputes that suits the US. They not only go against the Declaration on the Conduct of Parties in the South China Sea, an agreement signed by China and all the members of the Association of Southeast Asian Nations, but also the dual-track approach advocated by China. Although its aim is to counter China's growing strength, the US can't afford to see the hawks take over at home and risk losing control over tensions in the South China Sea. But it will limit the scale and intensity of such actions so as not to upset the cooperation between the two sides on critical issues. In fact, the number of candidates for the exam this year decreased by 32,500 compared with that of last year.
It is good for the country that the education authorities are adjusting the college enrollment to help those students from areas with less educational resources. Students and parents in Jiangsu province were strongly opposed to the adjustment this time in part because of the unbalanced enrollment rate in different regions. Yokoi's command of the Chinese language and knowledge of China will be beneficial for his job, as a common tongue enables people to communicate directly and helps build friendliness. The embassy has played a limited role in the Abe administration, which has preferred to tackle bilateral issues through national security chief Shotaro Yachi. They have been largely sidelined over the past two decades because politicians figure China hands are not appropriate to represent Japan.
At the time, Niwa faced broad criticism for the comments, and some Japanese parliament members called for his firing.
For this reason, the Abe administration is expected to attach more importance to its China policy. He has thereby developed broad personal connections with Chinese officials, including Foreign Minister Wang Yi reportedly. His experience in and with China should prove conducive to better managing the fragile and volatile relations. On the contrary, his special profile and expertise is a precious asset for handling the tricky relations at such a sensitive juncture. Local people need to be kept well informed about how their chances of sharing good education resources will be affected by the adjustment in quotas.
Thanks to the lack of transparency about the move, they have enough reason to believe that their own interests are being infringed on. Education equality should not be achieved by the shifting of educational resources in favor of the some regions at the cost of those in the other ones. For example, the domestic A-share market experienced ups and downs in 2015, in which process some speculators made enormous profits but enterprises involved suffered huge losses.
This is also risky as many non-private companies are monopoly State-owned enterprises or governmental agencies. By making such a large investment in the company, Apple is sending a clear signal it has confidence in the Chinese market and high expectations for the Chinese economy. Didi Chuxing has good technology that has enabled it to take a leading role in China's market, and, in doing so, it has also collected ample big data about Chinese consumers.
Their cooperation might change the balance in China's internet market and give rise to a number of changes.
In the Chongqing vaccine incident, authorities did quite a good job by allowing patients and children's parents to witness and supervise the whole process.
On the other, the new education authorities, along with other pro-independence forces, may double their intervention in school education and distort historical facts in textbooks, with the aim of separating "Taiwan history" from Chinese history. Several textbooks even outrageously claimed that some Taiwan women "volunteered" to work as comfort women for Japanese soldiers before and during World War II.
It also eyes promoting "independence" as the "only right thing to do", disregarding the island's true history. Should they manage to solicit public support, it would deal a heavy blow to the ideological foundation for the future reunification and the shared interests of people from both sides.
The mainland, on the other hand, is confident and capable of safeguarding its sovereignty and territorial integrity, and will not sit idle while Taiwan's separatists seek to cross the line. The opening of the new site helps consolidate Disney's position as one of the world's top three theme-park companies, and the operation in China is even likely to significantly avert the decline of the multinational's global business. First, it provides a large, comprehensive entertainment platform for the Chinese public to get a taste of US culture.
Many tourists from the Chinese mainland have already been to a Disneyland, whether in Hong Kong, Orlando, Tokyo or Paris. Such venues make up only 30 percent of the entire operations of the Walt Disney Company, with the remaining 70 percent distributed across movies and their derivatives, and the media, of which media networks account for 40 percent. In the short term, there are concrete risks of retaliation from China that would cause the EU economies serious pain and uncertainty about the end result.


A wise decision would be to adopt a forward looking political approach, whereby granting China market economy status could be used by the European institutions to strengthen dialogue with the Chinese authorities in support of the business activities of the EU companies in China. It is however time for the EU to reflect on why its ability to compete with other economies is getting worse in many sectors. On the contrary China and Europe should work together more closely in the future and for the future. They don't know the reality of the Chinese economy or that market-oriented reforms are still being advanced. But statistics indicate that more than 80 percent of European businesses in China are profitable.
Although there are no official figures, more than half of countries in the European Union, including the Nordic countries, the United Kingdom, the Netherlands, Germany, Luxemburg and those from central and East Europe are prepared to recognize Beijing's market economy status. And if it is improperly being taken as a key part of EU decision-making, the EU will be taking the wrong path. Meanwhile, the renminbi's real effective exchange rate - the weighted average relative to a basket of other major currencies, adjusted for inflation - appreciated 57 percent. In that period, the renminbi was still largely pegged to the dollar, and the effective exchange rate of the dollar appreciated very fast due to the end of quantitative easing and expectations of interest hikes.
The intervention tool of the People's Bank of China was the management of the daily opening price of the renminbi against the dollar. The key point of this move was to let the daily opening price of the renminbi against the dollar be more determined by the closing price of the previous trading day.
On the other hand, the PBOC began to be criticized because the renminbi's depreciation was thought to be the critical factor, which caused turmoil in both domestic and international financial markets. Moreover, as a result of renminbi internationalization, there are two renminbi exchange markets now, the CNY market (onshore) and CNH market (offshore).
Instead of asking whether the PBOC should let the renminbi depreciate, we ought to examine whether we can afford the costs of renminbi stability. The logic is, if there is a continuous depreciation expectation of the renminbi against the dollar, both residents and nonresidents will want to exchange their renminbi-denominated assets into dollar assets, resulting in capital outflows. From the second quarter of 2014 to the second quarter of last year, the accumulated financial account deficit was $200 billion. By the end of January, the reserves were $3.2 trillion, indicating that the scale of this reserve had decreased nearly $800 billion from its peak. If depreciation pressure persists and the PBOC continues to conduct open market operations, it is possible that China's foreign exchange reserve could drop below $2.5 trillion by the end of 2016. According to monetary theory, if the PBOC can't control capital outflow and continues to maintain exchange rate stability, it won't be able to implement independent monetary policy. However, for a large economy like China, independent monetary policy should be considered more important than maintaining a stable exchange rate. Although China's goods trade surplus was $578 billion in 2015, the reason for the huge surplus was not the good performance of the export sector, but rather the very bad performance of import growth. Weak external demand was one reason behind the dismal export growth, and the strong appreciation of the renminbi's effective exchange rate was another important reason. So the sooner the depreciation pressure is released, the better for the PBOC and for the Chinese economy. The government also should consolidate regulation to minimize the potential impact of depreciation, such as the bursting of dollar-denominated debts of Chinese enterprises. It wasn't hard, and when I eventually arrived I was required to pay 5 krone (75 cents US; 65 cents euro). Fortunately, I had a card with me, and I was quickly allowed in without the need to enter a pin number.
In some outlets, if you eat there, a password to gain access to the restroom will be printed on the receipt. For many, especially elderly Chinese, who don't use credit cards, there is a potential cultural shock in Copenhagen. At the very least, they should simply stick to the universally accepted figures for men and women.
Students and fast-food delivery boys tend to run them without lights in darkness, to squeeze the maximum range out of their batteries.
On the highways leading out of town, "lane discipline" indeed seems to be an issue, if not a remote concept. But considering Vietnam and China, centuries ago, shared a common alphabet and a number of cultural things, the difference when you fly from Beijing to Vietnam is huge. Leave Ho Chi Minh City's Tan Son Nhat International Airport and your senses are assailed the second you step outside the customs area.
No matter what time of day or night, the concourse at Tan Son Nhat's main terminal is heaving with people. That workhorse of family and small business life, the motor scooter, dominates the scene, weaving in and out of the cars, trucks, buses and light vans. The choral background to lunch, by a group of novices, was charming - but it was the karaoke-singing Buddhist monk that grabbed my attention, crooning a song, in Vietnamese, that urged listeners to examine their spiritual inner selves. Next up was a Benedictine friar who delivered a monologue of jokes, again in Vietnamese, all of which he assured us could be found in the Bible. Already, the manufacturing share of China's measured economy has reduced from more than 50 percent to less than 40 percent, while the service sector has developed consistently from less than 40 percent to stand now at more than 50 percent. The speed and effectiveness of the transition of the Chinese economy to a new and stable status is not easily tracked, either. But data is not information in its raw form, and a big data and financial technology industry has emerged rapidly to seek to make proper sense of the data and provide useful and usable information for governments, companies and other organizations to use in effectively understanding and managing economies, companies and, indeed, people's lives. Many companies - more every day - populate the fintech sector in great centers of financial management and investment, such as London. Business Big Data, a company based in Chengdu, is fast developing a global network that provides governments and businesses with cutting-edge commercial data services enabling improved decision making using big data across worldwide business functions.
But it has far wider implications for those seeking to measure the performance and effectiveness of new-economy companies and for those considering investments. More sophisticated ways of turning raw data into useful and useable information are becoming available.
His translation of the book Big Data: A Revolution That Will Transform How We Live and Work has been widely read in China. I recall the comments at a recent London seminar of Shen Minggao, an eminent economist with a track record at Peking University, Stanford, with Chinese government organizations and as chief economist for Citibank China. Organizations such as the Open Data Society are seeking to guide practitioners toward definitions of best practice and adherence to common standards. Since the BBD head office is in Chengdu, we can be encouraged to believe that constructive and innovative approaches will emerge and that international collaboration will be encouraged. There are semiofficial sources saying the interview could have been based on things said at the very top of the Chinese leadership.
Despite some positive figures among the data about the general economic performance in the first quarter, the "authoritative figure" said he didn't see an "auspicious start" to the year, as some cabinet officials had claimed.
In fact, as the interviewee said, the nationwide growth rate is unlikely to plummet even without increasing financial stimulus from the central government. That, as seen by some overseas observers, made the People's Daily's stand on the Chinese debt problem resemble what George Soros - the international financial capitalist known as the "man who broke the Bank of England" - said earlier: that China could be at the top of a debt precipice comparable to the one the United States tumbled off in 2008.
Now that half a year already has passed, at least some action should be taken during the remainder of the year, as the interview suggests.
Or, to sustain the economy's growth rate while tightening up the credit line can be done only by relying on more private spending and private investment. It is only in one or two industries that state-owned enterprises are faced with worthy competition from large, privately owned companies.
Speaking about how to promote the convergence of traditional and new media, Xi says the media should pay attention to both convergence and management, and ensure media convergence advances in the right direction. The first impact of new media on the traditional media is the loss of readers, resulting in falling circulation. User-generated content has become a vital part of news production, and citizen journalism is today an accepted fact. Therefore, the traditional media should adopt creative mobile strategies to meet people's fast-changing appetites. They need to adopt methods like visualization and virtual reality to effectively present an event. User-generated content is a source that editors should pay more attention to, because citizen journalists have been responsible for breaking quite a bit of news. The European Parliament recently passed a non-binding decision not to recognize China's market economy status. The whole society should be responsible for the rampancy of fake goods and no one can afford to neglect that. In addition, as admitted in the request, the donation is specifically aimed at producing boys. It has moved from behind the scenes to center stage and become deeply involved in the disputes. While the US would like to hold back China's development by singling out the maritime disputes in the South China Sea and making the South China Sea issue a regional flashpoint, the global dimension and comprehensive nature of China-US relations suggest there is little possibility that the South China Sea issue could dominate the course of the relations. China is an indispensable partner for the US in solving key global and regional issues, and cooperation between China and the US serves the fundamental interests of both countries and the need for peace and development in the wider world. Moreover, even though frictions do occur from time to time between China and the US, there are bilateral mechanisms to prevent those frictions from spinning out of control.
It is also hard to imagine that the US would ever take a high risk and pay a heavy price in the interests of another country.
Indeed, over the past seven years, the number of exam candidates has fallen by about 160,000.
But the educational authorities should also draw a lesson from the panic of parents and students in Jiangsu this time. The educational authorities should directly face the issue of unfairness in the college enrollment process. His mother went to Northeast China in the 1940s to marry his father who was working at a Japanese company there. It was the extravagant profits to be made in the financial and realty sectors that attracted huge capital out of manufacturing and marginalized it.
If they always enjoy higher salaries, it's not fair to their counterparts in private enterprises. Given the huge number of internet users in China, getting involved in the internet market in China will offer Apple a lot of opportunities to do business.
But there are more questions that need to be answered, such as how the medical staff concerned got illicit profits from the process. Of course, it needs to keep a close eye on the DPP's "cultural independence" moves and nip them in the bud. And that Chinese elements have been assimilated will no doubt impart to it a distinctive character as the two different cultures are combined.
For them, the thrilling sensory experiences, moving stories and gorgeous costumes and scenes are no longer new. That 70 percent, however, provides an inexhaustible source of innovation for the group's theme parks. It would also threaten the positive outcome of the ongoing negotiations for a bilateral investment treaty and the potentiality to conclude an FTA between China and the EU - which, according to Commission estimates, could raise European prosperity by 250 billion euros ($282.71 billion). One of the reasons is no doubt the burden of too many EU regulations that hamper the overall ability to innovate and invest. Cooperation with China on the fourth industrial revolution will be crucial if we want to keep European industry competitive and strong. The resolution, which is not legally binding, is intended to help the European Commission, the EU's executive body, make a final decision. If China is not a market economy, how are those European investors managing to survive, and indeed prosper, in the increasingly sophisticated market environment there? Before August last year, the daily opening price did not equal the closing price of the previous trading day.
However, because there was significant depreciation pressure on the exchange rate of renminbi against the dollar, the result of the Aug 11 reform was the sharp depreciation of the renminbi. As a result, several days after the reform, the PBOC was forced to intervene on the foreign exchange market again. However, the deficit increased to $160 billion and $200 billion in the third and fourth quarters of last year respectively. To make things worse, the fast shrinking of reserves may intensify depreciation expectations. Under current circumstances, the economic slowdown and the exacerbation of deflation pressure require the PBOC to loosen monetary policy by lowering banks' required reserve ratio or cutting benchmark interest rates.
If the renminbi continues to remain stable against the dollar and the dollar continues to appreciate against other major currencies in 2016, China's export sector will continue to face downward pressure. And those who are thrifty will likely try to reduce the frequency of using public toilets in Switzerland.
I remember a friend who told me that, although he can't speak English, he'd learned while in the UK to follow the sign that begins with "M" - as in men's - to ensure he went into the correct side of the toilets. So after polishing off the skin, pancakes, hoisin sauce and cucumber, I was a bit taken aback by being presented with the feet, and worst of all, the head, complete with beak.
The great strength of its industrial position has been built on leadership in manufacturing, mining and energy sectors. It was fascinating to spend time recently with the BBD team, including Senior Vice-President and Chief Risk Officer George Yuan and Chief Scientist Tao Zhou.
Meanwhile, Yuan's research, developments and experience in the use of data in international financial management and understanding is acknowledged within the global financial sector. But if the corporations really are competitive, most probably they don't face the problem of a default. Consequently, advertisers have turned to new media and it is becoming increasingly difficult for publishers to survive, let alone make profits. The younger generation favors mobile devices and entertaining ways of storytelling, forcing the traditional media to focus on visualization and participative reporting. For example, they have to find out what kind of content is suitable for mobile devices and what sort of presentation provides the best visual experience. And to shift to new media, publishers have to build a team of journalists who can make full use of new technologies and know how to combine them with objective journalism.
Interaction with readers and viewers is equally important as it can help editors focus more on what their target audience wants.
Now, we have a EvaPhone service which allows you to make free unlimited calls anywhere in the world. On topics such as market economy status, intellectual property rights protection, and anti-dumping, these Western countries discriminate against China and refuse to work with Chinese enterprises.
The consumers, law enforcers, and the whole market need to think about it, not only a Chinese enterprise.
For instance, the Memorandum of Understanding on Rules of Behavior for the Safety of Air and Maritime Encounters, which the two sides announced in 2014, provides a code of conduct for effective and normal communication between the two navies. During her stay in China, his mother made friends and played mahjong, a popular Chinese pastime, with local people. Then, without ample investment, manufacturing had to give up technological innovation and continue to produce low value-added products. And more than 60 are under construction, which will make China home to the world's largest number of theme parks.
Second, it will change the structure of the Chinese market for theme parks, as it will lead to a redistribution of customers, which, in turn, will force theme park operators to upgrade their products in order to compete. Of the 30 percent that is generated by its theme parks, revenue from admission fees makes up only 30 percent, with the other 70 percent coming from visitors' spending in shops and restaurants inside the park. According to the Mission of China to the EU, more than 80 countries, including New Zealand, Australia, Peru, Chile and Association of Southeast Asian Nations countries, have already granted China market economy status. There would probably be fewer dumping disputes if European governments proceeded with the necessary structural reforms. History has demonstrated that dialogue and cooperation overcome misunderstandings and reduce distances. Therefore, the PBOC could offset the depreciation pressure by pushing up the daily opening price persistently.
The reason for the worsening capital outflow was that, after the Aug 11 reform, depreciation of the renminbi was aggravated, not mitigated. If the pressure is too significant, both economic growth and the labor market will suffer serious setbacks. The authoritative tone of the interview, and the issues and the space it covers, made it clear enough that it should be taken as a piece of guidance on the policy level. If it is from the top leadership, as some readers speculated, then what it represents is a requirement on the policy level - cut the debt level, by whatever means.
Information technology devices allow readers to access information without the limits of time and space, further reducing the attractiveness of the print media. Publishers' mobile-device strategy will, to a large extent, determine the success of their shift to new media. However, the opinions they express and their activities in pursuit of this aim are unlawful behavior in the guise of freedom of speech and freedom of association. Up till now, Chinese and US naval vessels have been able to act in a professional and rules-based manner, which is also critical for avoiding miscalculation and accidents as well as keeping the South China Sea stable. A vicious circle has already been formed and it is necessary to break it to sustain the nation's long-term competitiveness.
Their choice was primarily dictated by political reasons, including the conclusion of free trade agreements. If there is no significant depreciation, the PBOC's effort to stabilize the renminbi's exchange rate cannot eliminate depreciation expectations.



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