Dec. 3 – While all eyes have been on British Prime Minister David Cameron and his entourage in Beijing this week, a much subtler yet nonetheless far reaching agreement was being penned in Bucharest. While many in the British delegation have been sold on theories of mass Chinese investment in the West, it is to Eastern Europe that China is looking for bargains. Chinese Premier Li Keqiang has just signed a deal with Romania to import 500,000 cattle and 3 million pigs from the country over the next three years – a huge number of animals, and reminiscent of China’s recent agricultural deal with Ukraine. Continue reading
Nov. 29 – In a move to strengthen ties with the Association of Southeast Asian Nations (ASEAN) and South Asian countries, China’s central bank and 10 other departments jointly released the “Overall Plan for Yunnan Province and Guangxi Zhuang Autonomous Region in Constructing the Close-Border Financial Reform Pilot Zone (hereinafter referred to as the ‘Plan’)” on November 20. The Plan approves the establishment of a new financial pilot zone in Yunnan Province and Guangxi Zhuang Autonomous Region, which will serve as a testing ground for the nationwide financial reforms. Continue reading
Nov. 29 – China’s Office of National Holidays (ONH) is allowing the public to choose between three different proposals for the 2014 national holiday schedule. In an attempt to make the holiday schedule more predictable, the public is currently being asked to indicate their preferred proposal in an online poll featured on a number of leading Chinese websites including Sina, Tencent and Sohu.
As of Thursday, more than 1 million people have participated in the poll that has been available online since Wednesday November 27.
In a similar survey conducted in October, only 12 percent of roughly 2 million participants indicated that they were satisfied with the current national holiday arrangement, and a further 50 percent felt that mandatory long-term holidays that sacrificed regular weekends were unnecessary. Continue reading
Nov. 27 – China and the European Union (EU) released the “China-EU 2020 Strategic Agenda for Cooperation (hereinafter referred to as the ‘Agenda’)” at the 16th China-EU Summit on November 21, which maps out strategic China-EU cooperation through 2020.
The Agenda is a milestone in the China-EU relationship as both sides have decided to combine their targets.
“The Agenda is unprecedented in its breadth of content, ranging from aerospace and counter-piracy to urbanization and energy,” said Chinese Premier Li Keqiang. Continue reading
Nov. 25 – One of the key focal points mentioned in the “Decision on Major Issues Concerning Comprehensively Deepening Reforms (hereinafter referred to as the “Decision”)” is to deepen the reform of China’s fiscal and tax system. Recently passed during the Third Plenary Session of the 18th Central Committee of China’s Communist Party (Third Plenum), the Decision is considered the guideline for mapping out China’s economic policies in the coming years. Continue reading
Nov. 21 – China’s central government released the “Decision on Major Issues Concerning the Comprehensive Reform (hereinafter referred to as the ‘Decision’)” on November 17, which puts forward 60 detailed targets in the following 15 areas to promote the nationwide reform:
- Clarifying the significance and principles of the reform;
- Improving the basic economy system;
- Improving the modern market system;
- Transforming the government function;
- Deepening the fiscal and tax system reform;
- Improving the unified urban-rural development system;
- Establishing the “opening-up economy” system;
- Accelerating the construction of the socialist democratic political system;
- Promoting the construction of a “nation ruled by law”;
- Strengthening the power restriction and supervision system;
- Promoting the cultural innovation system;
- Promoting innovation in social service reform;
- Innovating the social administration system;
- Accelerating the construction of the ecological civilization system; and
- Deepening the national defense and military system reform. Continue reading
Urumqi – Powering Western China’s Growth
By Lisa Quach
Nov. 18 – Located on the eastern frontier of Central Asia, Urumqi is the capital of China’s Xinjiang Uyghur Autonomous Region. Urumqi, which means “beautiful pasture” in Mongolian, is also the most remote city from any sea in the world. Despite this fact, the city thrived as a trading hub along the Silk Road during the Tang and Ming dynasties. Today, with its large coal reserves, strong transportation networks, and a burgeoning consumer class, the city has grown to become the center of industry, retail and commerce in Western China, as well as the regional trade hub for Central Asia. Continue reading
Nov. 15 – China’s central government released the much-anticipated communiqué of the Third Plenum of the 18th Central Committee of the Communist Party (hereinafter referred to as the ‘Communiqué’) on November 12, which is the first policy blueprint unveiled by the new leadership under President Xi Jinping and Premier Li Keqiang.
The Communiqué changes the role of market economy from “basic” to “decisive,” stipulating that the country will deepen its economic reform to ensure that the market will play a decisive role in the allocation of resources. Meanwhile, it pledges to achieve clear accomplishments in major fields and build a sound, scientific and effective institutional system in all areas by 2020. Continue reading