Vol. II Issue. 21
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29 Chinese fishermen abducted
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21 May 2012
FOREIGN AFFIARS
A Democratic People's Republic of Korea gunboat has reportedly hijacked three boats with 29 Chinese fishermen onboard and demanded 1.2 million Yuan ($189,800) for their release. "China is keeping close contact with the DPRK via relevant channels, and we hope this problem will be appropriately resolved as soon as possible," Chinese Foreign Ministry spokesman Hong Lei said.
China has urged the Democratic People's Republic of Korea to guarantee the legitimate rights of Chinese crewmen of fishing ships. There has been no response from DPRK regarding the issue.
Source (s): China Daily, May 18, 2012.
China, Netherlands enhance bilateral ties
Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC) met with the presidents of the First and Second Chamber of Dutch parliament at The Hague.
The two sides reached broad consensus on enhancing bilateral ties and parliamentary exchange. Mr. Wu expressed appreciation for the Netherlands' adherence to the one-China policy and its support for China's peaceful unification. In terms of parliamentary links, Wu said the two sides should strengthen exchanges at all levels and all areas. Wu invited the parliamentarians to visit China.
The visit to Netherlands was followed by a visit to Croatia, Luxemburg and Spain.
Source (s): China Daily, May 18, 2012.
China reacts to transgressions remark by India
China has refuted the remarks made by India's Minister of State for Home, Mullappally Ramachandran in Rajya Sabha on March 16 that the Chinese Army has transgressed Sino-India border more than 500 times in the last two years.
"Chinese position on China and India boundary question is clear and consistent. China is always committed to (implement) bilateral agreements aimed at ensuring peace and stability at the border areas", Chinese Foreign Ministry Spokesman, Mr. Hong Lei said.
Source (s): China Daily, Indian Express, May 18, 2012.
SCIENCE AND TECHNOLOGY
China will be largest IT consumer in Asia-Pacific
According to a report by International Data Corporation (IDC), China would become the largest consumer of IT products and services in the Asia-Pacific region. The increase in the IT consumption is attributed to increasing consumer need and government support in this sector. It is expected that China would witness an increase of 29.8 percent per year.
Shanghai plans to provide WiFi internet access in all public places by end of 2013. A total of 130,000 WiFi zones will be developed by 2013.
Source (s): China Daily, May 17 & 19, 2012.
China to build more radiation monitoring stations
The Gansu province in China's northwest region is planning to build more than 30 radiation monitoring stations in the following five years. Approximately US$ 4.7 million will be spent on setting up the stations in 14 cities and prefectures.
So far there are three radiation monitoring stations in Gansu which were instrumental during the Fukushima nuclear disaster. Gansu has about 2900 radioactive source and more than 1000 radioactive facilities.
Source (s) China Daily, May 19, 2012.
More satellites to join the Beidou navigation system
China will be launching three additional satellites for the indigenous Beidou satellite navigation system. Beidou will be able to proved free services such as positioning, navigation and time service for customers in the Asia-Pacific region by end of 2012. "The trial service of the Beidou system shows it can provide a high-quality regional service," said Ran Chengqi, director of the China Satellite Navigation Office. He added that countries such as Pakistan and Mongolia have shown interest in using Beidou's services. China aims to complete the constellation by 2020 with more than 30 satellites.
Source (s) China Daily, May 17, 2012.
POLITICS AND SOCIETY
Beijing on 'high alert' over Huangyan
Beijing has vowed to remain on "high alert" over Huangyan Island in case of any provocations, after Manila on Friday postponed a protest trip to the island. A group of about 20 people, led by outspoken former Philippine Marine officer Nicanor Faeldon, and television crews, were set to depart from the northern coastal town of Masinloc. However, the Phillipine President, Benigno Aquion's, last minute call led the protestors to call off the trip.
The Huangyan Island has been China's undisputable territory for centuries, and the Philippines did not officially lay rival claim over it until 1997. The Philippines bases its territorial claim on its argument that the island is within its so-called 200-nautical-mile exclusive economic zone, and it has vowed to raise the issue of the island before international tribunals.
In the wake of the April incident, China has declared high alert on Huangyan Islands and tightened quality controls on fruit imported from the Philippines, including bananas, and cut the number of tourist visits and flights to Manila.
Source (s): China Daily, May 19, 2012.
Flood prediction for Yellow River
The Yellow River, China's second longest river, is likely to flood in its middle and lower reaches this summer, the river's monitor agency reported. The prediction, based on the long-term weather and climate forecast, said that the southern part of North China, the Yellow River region, the Yangtze River region and the Huaihe River region are expected to see more rainfall than in past years.
Nearly 1.9 million people live in the lower stream of the Yellow River. The flood may pose grave threats to their safety, said the commission. Guo Gengmao, governor of Henan province, expressed concern that it is a tough task to rein in the Yellow River and the river's safety is closely related to the grain yield, the hydropower plants and the ecological development in the region.
Additionally, the flood-distribution projects in the lower stream of the Yellow River are incomplete and the infrastructure construction along the river remains in a poor condition, supplementing to the threats of a possible flood.
Source (s): China Daily, May 16, 2012.
Xi stresses importance of folk diplomacy
Vice President Xi Jinping has stressed the importance of people-to-people diplomacy, urging unremitting efforts on the part of China's non-governmental friendship organizations to enhance understanding between the people of China and the rest of the world.
Xi made the remarks while meeting with participants in the 10th National Council conference of the Chinese People's Association for Friendship with Foreign Countries (CPAFFC), a major non-governmental friendship body.
The CPAFFC, established in Beijing in 1954, promotes understanding and friendship between Chinese and people in foreign countries. It has established cooperative ties with about 500 non-governmental groups in 157 countries thus far.
Source (s): Xinhua, May 15, 2012.
ECONOMY
Chinese Deposit Ratio to remain unchanged: Official
It is reported that the Chinese commercial banks have extended less credit at the beginning of each month and quarter while extending loans intensively at the end of each month and quarter for several months.
China's banking regulator said it has no plan to adjust the loan-to-deposit ratio for banks, which stands at 75 percent currently, according to the state-run Shanghai Securities News.
Wang Zhaoxing, Vice Chairman of the China Banking Regulatory Commission stated that although the bank are taking steps to extend loans at a steadier pace, there are no existing plans to change the loan-to-deposit ratio for banks.
Source (s): Caijing, May 17, 2012.
China's four big banks extend almost zero credit in May
China's biggest four banks have posted nearly zero growth in new loans for the first two weeks of May, extending the country's weak credit growth last month, and bolstering calls for an interest cut to stimulate the slowing economy.
The four banks?Industrial & Commercial Bank of China Ltd., China Construction Bank Corp, Bank of China Ltd. and Agricultural Bank of China Ltd., usually accounts for 30 percent of new yuan loans issued by China's whole banking system.
The weak credit growth came after last month's sharp decline, with new loans issued by the four banks hitting a record low in the year of 681.8 billion yuan, according to statistics published on May 11 by the central bank. An understanding for this can be gained following the stalled economic growth the world's second-largest economy has faced in the past few days.
Source (s): Caijing, May 16 2012.
According to a latest report by Ernst & Young, the Chinese mainland remains world's most attractive investment destination.
In the "Capital Confidence Barometer" report released Tuesday, China continues to lead the "most attractive markets for investment" list, followed by India, U.S., Brazil and Indonesia. China topped the most attractive spot for global investors in the world's leading advisory firm's report last October.
Chinese companies are more focused on optimizing capital in the near future, said Robert Partridge, Transaction Advisory Services leader of Greater China at Ernst & Young.
This year's report shows 70% percent of the respondents say they will reduce already low debt-to-capital ratios over the next year and 44% will focus on optimizing their capital positions, by a combination of releasing cash, improving working capital, optimizing the tax structure or integrating previously acquired businesses.
The report also showed Chinese executives are more upbeat about the global prospects with 70% of respondents see the global economy improving.
Source (s): Caijing, May 9, 2012.
Contributors:
• Sadhavi Chauhan
• Priyanka Mehrotra
• Pankhuri Mehndiratta
• Rahul Prakash
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