China’s Industrial Future

China’s economic statistics released in recent months imply that its economic slowdown may deepen. Three figures in particular are of concern to economists;those showing drops in growth of industrial value-added output, in the money supply,and in power generation. The growth of industrial value-added output is at a three-year low, having increased only 9.3 percent over a year. The narrow measure of money supply’s (M1) 3.1 percent year-on-year growth marks a record low, while the miniscule 0.7 percent growth of total power generation signals a scaling back of the country’s industrial activities.In a meeting at the end of May, Chinese     

Why China Will Grow Rich Before It Grows Old

正THE announcement of the relaxation of China’s one child policy created great discussion in China and internationally.But its significance was widely misunderstood.Contrary to myth,the increase in China’s labor supply plays little role in China’s rapid economic growth.In reality,96 percent of China’s economic growth comes from factors other than a rising labor supply.Therefore,there is no reason why China’s economy should slow significantly because China’s working age population stopped growing in 2012.The mistaken view,sometimes expressed,that China will grow old before it becomes rich is therefore the reverse of the reality:China will grow rich before it grows old.To demonstrate clearly why,first the facts will be stated and then their implications analysed.     

The Blame Game--Trump administration politicizes pandemic for electoral gain

with a crying need for the U.S.and China to unite and work together,it is unfortunate that China-U.S.relations have deteriorated to a level not seen since the Cold War before Richard Nixon’s historic visit to China in 1972.This deterioration was completely avoidable.One would have hoped that the rhetoric would dissipate as cooler and more rational voices prevailed to restore a greater sense of cooperation in the world’s most important bilateral relationship.     

The Blame Game

正Trump administration politicizes pandemic for electoral gain While in the midst of a pandemic and with a crying need for the U.S. and China to unite and work together,it is unfortunate that China-U.S. relations have deteriorated to a level not seen since the Cold War before Richard Nixon’s historic visit to China in 1972. This deterioration was completely avoidable. One would have hoped that the rhetoric would dissipate as cooler and more rational voices prevailed to restore a greater sense of cooperation in the world’s most important bilateral relationship.     

Society

正China’s Energy Consumption Growth Slows Down The 2014 BP Statistical Review of World Energy shows that in 2013 China led the world in energy consumption.China used 22.4 percent of the world total,growing by4.7 percent,well below the 8.6percent average of the past decade.Meanwhile,China is also the world’s largest energy producer,providing 18.9 percent of global supply.Its No.1energy source is coal,which accounts for 47.4 percent of the global output.In line with the dip in consumption growth,growth in China’s energy production also fell to2.3 percent last year,far below the 7.4 percent average over the past 10 years.     

China and Africa Cooperate in Petroleum Industry

正AFRICA is rich in oil resources.In 2014,Africa’s proven reserves were estimated at 132.1billion barrels,more than North America and the Asia-Pacific combined.The three most oil-abundant countries on the continent are Libya(46.4 billion barrels,3.4 percent of world total),Nigeria(37.2 billion barrels,2.7 percent of world total)and Angola(13.5 billion barrels,one percent of world total).Africa’s oil output is rising due to new technology and exploration.It is estimated that proven oil reserves will grow by 15 billion barrels in the next     

More in the Pipeline

With the government's decision to peak carbon emissions before 2030 and achieve carbon neutrality before 2060,the race is on in China to switch to clean fuel.Some of the biggest energy companies in the country have increased investment in the exploration of natural gas.China National Offshore Oil Corp.(CNOOC),the largest producer of offshore crude oil and natural gas in the country,for example,has announced that gas will account for 30 percent of its production by 2025,growing to 50 percent in 2035.     

Safe,Stable and Serviceable

<正>Seeking economic progress and stability,China is focusing on the financial sector Amidst the rapid stretching out of China’s financial industry,the National Financial Work Conference convened in Beijing on July 14-15,gathering top policymakers to discuss hot financial issues and formulate policies for the sector.Held every five years,the conference is an important event that sets the tone for the country’s financial policies and reform in the     

China's Development Revered

A visit to China is in many ways a humbling and instructive experience. It has been a humbling experience because of the rapid economic progress that China has achieved in such a short span of time since its great leader Deng Xiaoping launched his policies of reform and opening up to the outside world in December 1978.     

Lugu Lake

Our destination was Lugu Lakesupposedly home to the only matriarchal society left on Earth. This unique civilization is based around the banks and beaches of the lake, a spectacular alpine body of water which straddles the Sichuan and Yunnan border in southwest China. Sitting at an altitude of 2,685 meters, it is officially the highest lake in either province. We didn’t quite believe that a society like this could exist, and if it did, how it could function peacefully. We boarded the Lugu Lakebound bus to investigate. Though a handful of China’s 55 ethnic minority groups are represented here, including Yi and Pumi peoples-it is the Mosuo and the dominant role of their women in society that attract visitors. These people may number a mere 40,000 in total,     

What Can the World Expect From China?

正The core of the message to the outside world lay in President Xi Jinping’s assertion that the international community expects to hear China’s voice and be aware of China’s plans and China will not be absent from the world’s debate.This is not new,of course.For some time now,the world has recognized China as a force to be reckoned with.But in order to understand what the world can expect from China in 2016,it is useful to analyze the carefully considered content of the president’s     

Focus

Voices "The fact that core technologies are controlled by other countries is the crux of the problem why China’s industrial sector is big but not strong. To reverse this situation, science and technology has to be brought into full play,"said Minister of Industry and Information Technology Miao Wei in an interview with People’s Daily. He spoke about the progress China has made in recent years, including setting up 127 national engineering research centers,729 state-level enterprise     

The Road to Food Self-sufficiency

CHINA'S grain production accounts for a fourth of the world's total output, and its population for a fifth, said Chen Xiwen, deputy head of the Central Rural Work Leading Group, when discussing how China succeeds at self-sufficiency with respect to basic agricultural products. China is a responsible country that is making significant contributions to global food security.     

Western China Development Drive——Strategic decision for improving right to subsistence and development

The implementation of theWestern China DevelopmentStrategy is a concrete expres-sion of accelerating the eco-nomic development andsocial progress and safeguarding and pro-tecting the right to subsistence and devel-opment of the people in that part of thec…     

Maintaining Confidence in China’s Economy

正China’s economy has undergone a profound restructuring since 2011,and its double-digit growth speed has gradually slowed down to 7percent or so.Such a shift in gears has stoked rumors that the country is headed toward a hard landing or even that the world’s largest developing economy is about to collapse. In fact,misunderstandings,doubts and even curses against China’s economy have been unceasing ever since the founding of the People’s Republic of China in 1949,especially in tough     

Chongzuo：A Frontier City at the Forefront of Development

WHILE China＇s eastern seaboard has been experiencing rapid development for close to two decades, the Chinese government has recently been taking steps to try and foster similar progress in other parts of the country. Chongzuo City, near Vietnam in China＇s far south, is an example of a previously obscure area that has started to undergo the kind of dazzling changes that cities like Guangzhou, Shanghai and Beijing have been experiencing for many years.     

Market Watch

TO THE POINT: Spring Festival comes, and Spring Festival goes. The nation’s biggest holiday was rewarding for consumer products manufacturers and retailers. The festival period consumption jumped 15 percent compared with that of last year. Right after the seven-day carnival, China’s central bank showed its concerns over excessive capital liquidity and raised the bank reserve requirement ratio another 0.5 percent, a mild move to calm down the white-hot investment and stock market speculation. Also after the festival, which has always been a big test for China’s transportation capability, Air China and Qunar.com had announced an online ticket search and booking service for travelers’ convenience. The last week of February was a black week for most traders in the stock market. February 27 saw the benchmark Shanghai Composite Index drop 9 percent, the sharpest of its kind in a decade and many lost their money. For newcomers to the stock market, what they have lost is probably confidence. In a country low in inflation, individuals are still keen on buying gold for family financial stability in case real inflation takes place. Though gold output in 2006 reached an unprecedented high, the amount was still insufficient and will face strong demand in the future. Meanwhile, by the end of 2006, total banking assets in China hit a record high, accounting for 5 percent of the world’s total. The Big Four state-owned commercial banks are still major players with relatively good performance.     

MESSAGES OF CONFIDENCE

Fears and rumors that China’s slowing growth would drag down the global economy have surfaced since last year.Right before the opening of this year’s full sessions of China’s national legislature and top political advisory body,Moody’s Investors Service downgraded its outlook for China’s government credit ratings from"stable"to"negative"on March 2,citing reasons including rising government debt and a continuing fall in reserves.In response,top officials in charge of economic affairs met the press,aiming to reassure the world by saying that China would continue to contribute to global growth.Edited excerpts of their comments follow:     

Focus

Most Depressives Untreated The Chinese Psychiatrist Association under the Chinese Medical Doctor Association says less than 10 percent of China’s 30 million clinically depressed have access to professional help. Statistics show that China has a total of 17,000 registered psychiatrists–about one for every 100,000 patients. The ratio in developed countries, however, is 1:10,000. China needs to train and register another 113,000 psychiatrists in order to achieve the developed mean ratio.     

Food in China： From Getting Enough to Eating Right

WHEN the People＇s Republic of China was founded in 1949, the US Secretary of State Dean Acheson commented that Chinese dynasties had all come to grief over their failure to solve the food problem, and the Communist regime would be no different. According to John Leighton Stuart,before 1949, 3-7 million Chinese people died of hunger each year. Providing enough food for 550 million people was the key question faced by new China.