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- Happiness and wealth: Money can’t buy me love | The Economist
Mr Lei declares himself pleased with the past decade’s reduction in rural taxation; not too bothered by moderately rising prices of goods; and somewhat concerned that, although his basic health care is adequate, his coverage would not suffice if he were to suffer a severe illness or injury. But he is clear on the one thing that does make him unhappy: official corruption. In his hometown, official posts are handed out to friends or bought and sold. Once installed, he laments, officials can grab land, charge fines, and demand bribes under threat of closing down a business. They do whatever they want, he says, and the people cannot stop them.
- Newly built low-cost flats meets target – Politics & Society – Morning Whistle –
Latest statistics shows that up to the end of May, 3460 thousand low-cost flats have been started building, which covers 46.4% of the whole year target, while 2060 thousand flats have been completed, meeting 41.25% of the whole year target.
more fun from Beijing Daily
a Chinese think tank attacks Hu Jintao and Wen Jiaboa for revisionism, deviating from Deng Xiaoping
- Private Economy’s Original Sin – Caixin Online
The ‘non-public economy’ gets a bad rap for a variety of reasons, but considering the important role it plays it is time to end the discrimination
- To Battle Counterfeits, Kweichow Moutai Reveals Supply Figures – Caixin Online
Company that makes famed – and often faked – liquor aims to make clear how much authentic baijiu really reaches market
- China Pension Shortfall to be CNY18.3Trl in 2013: Report-Caijing
China’s pension shortfall is expected to be in 18.3 trillion yuan ( about 2.9 trillion U.S. dollars) in the year 2013， building a case for a rise of retirement age.
- Farmers collect rare fungus on Qinghai-Tibetan Plateau – Xinhua | English.news.cn
A local resident presents caterpillar fungus in Naqu County, southwest China’s Tibet Autonomous Region, May 31, 2012. The caterpillar fungus grows on the remote, humid mountain slopes on the Qinghai-Tibetan Plateau. It is usually harvested in May and June. The rare fungus’ Chinese name – dongchongxiacao – literally means “winter worm, summer herb.” Ground into a powder, the fungus is a valuable ingredient in traditional medicines and is believed to boost the immune system. A kilogram of the dried caterpillar fungi costs roughly 120,000 yuan (18,840 U.S. dollars) at present. However, the price might raise after this year’s harvest due to the reduced collection
- Officials suspended in forced abortion case |Society |chinadaily.com.cn
The city government of Ankang on Thursday evening apologized to a woman who underwent a forced abortion at a hospital in Northwest China’s Shaanxi province, adding that officials who have been found to be responsible for the incident will be relieved of their duties.
- Coal stocks hit record, easing summer crunch |Industries |chinadaily.com.cn
Record high coal stocks coupled with falling demand by secondary industries including mining, manufacturing and construction, will cut the danger of power shortages this summer, according to the National Development and Reform Commission.
- China to regulate residential power use |Policy and Regulation |chinadaily.com.cn
What about government offices?//
The National Development and Reform Commission announced Thursday that China will initiate a trial to charge residents more for electricity if their usage exceeds a certain level.
- Wal-Mart in China Faces New Food-Safety Complaints – WSJ.com
surprised the fcpa investigation has not spread to china//
Beijing’s Food Safety Administration said Thursday that it accused Wal-Mart of violating food-safety standards in March by selling sesame oil exceeding standard amounts of benzopyrene and squid containing hazardous levels of cadmium. The agency’s website said the sesame oil and squid were produced by domestic companies.
- How Best Buy Tackled China’s Middle Class Through Trial and Error – WSJ.com
who is Best Buy’s China PR firm?
- China Steps Up Support for Parts of Housing Market – WSJ.com
The government has encouraged banks to offer lower mortgage rates for first-time home buyers, called on developers to increase construction of smaller and cheaper apartments, and is tolerating moves by some cash-hungry municipal and provincial governments to loosen property restrictions at the local level.In addition to these sector-specific measures, it has also eased monetary policy aggressively—the People’s Bank of China cut interest rates last week, its first such move since December 2008—and required banks to park less cash as reserves with the central bank.As a result, home buyers have been flooding back into property showrooms in parts of the country in recent weeks.
- New Chinese engine to power space program — Shanghai Daily
CHINA has developed a non-toxic and pollution-free engine for its new generation of carrier rockets, making it the second country in the world to harness such technologies.
- China displays ADS and tank under development | Defense Tech
PARIS – Sure, NORINCO, China’s lead military manufacturer didn’t have the real thing, but they did display a model of the Sky Dragon air defense system and Main Battle Tank 3000 in development.
- Pit of Dreams – By Jonathan Kaiman | Foreign Policy
Can China’s rust belt reinvent itself as a tourist destination?
- China’s Coal Country – An FP Slide Show | Foreign Policy
- Court Delays Apple China IPad Trademark Ruling For Talks – Bloomberg
A Chinese court will delay its decision on Apple Inc. (AAPL)’s appeal of a ruling denying its ownership of the iPad trademark in China to let the company pursue mediation with Proview Technology (Shenzhen) Co.
The Higher People’s Court of Guangdong won’t release a ruling on Apple’s Feb. 29 appeal so long as both parties continue talking, Zhao Le, a spokesman at the court’s foreign affairs office said in a phone interview today.
- China: US commercial properties? We buy those too | beyondbrics
Chinese investors’ appetite for US real estate knows no bounds it seems. Alongside Manhattan penthouse apartments, commercial developments such as hotels, office buildings and warehouses have also been at the receiving end of Chinese capital.
- 2m spy cameras in Guangdong by 2015 | SCMP.com
The province has already installed 1 million, which officials say have solved 100,000 crimes, but activists say the surveillance will further erode public privacy
- 明鏡新聞網: 獨家：周永康稱病住院，中共開吹「黨內民主」
Mirror News claiming Zhou Yongkang “sick”, spends most of his time in hospital, still sticking with it and Boxun’s rumor that Zhou and Ling Jihua consipred to hold a quick caucus of top party member in early May to determine preferences for PBSC members, and that Ling was near the top. Wonder where this rumor originated
- Illuminant’s Chinese Takeout: Enter the Dragon (a realistic overview of China)
- Yili recalls mercury-laced milk goods | SCMP.com
Dairy giant the Yili Group yesterday recalled some baby formula products after “abnormal” levels of mercury were found
- 伊利部分奶粉“汞含量异常” 紧急召回|汞含量|异常|伊利_21世纪网
mercury-laced Yili milk
- “Grandpa Wen, I want to go to school!” | Ministry of Tofu 豆腐部
Weibo users reported the demonstration at the entrance of Fengtai District Education Commission in Beijing by elementary school age kids who are not eligible because they don’t have Beijing hukou.
- Adventure, regret, anger: one Global Times reporter’s epic South China Sea journey « southseaconversations 讨论南海
After a three-week tour of the Paracels, Spratlys and Scarborough Shoal, the Huanqiu Shibao‘s special South Sea correspondent Cheng Gang 程刚, an experienced war journalist, filed a lengthy feature story that ran in the paper’s June 1 edition. It was titled, ‘Fisherfolk’s grief: we don’t fire the first shot, countries occupying the islands have fired countless shots‘.
- Netizens Agree: China’s Rape Law Must Be Reformed | Tea Leaf Nation
- Gruesome photos put spotlight on China’s one-child policy – Behind The Wall
Photos of Feng Jianmei on her hospital bed after a forced abortion have been circulating on the web. The photos were taken by her sister who in turn contacted the media about the story. The photos originally appeared in a local newspaper report online and then they were picked by netizens and distributed online.
- Netizen Rage Over China’s Unborn – China Digital Times (CDT)
21st century herald looks at the ugly art market in china. buyer beware
- China PBOC Plays Down Mortgage Policy Easing Talk | MNI
The People’s Bank of China played down talk that the government is easing up on restrictions on pricing mortgages, with a spokesman telling the official Xinhua News Agency Thursday that the bank will continue to tow the official line on housing policy.
The interview with the spokesman followed reports that the PBOC is encouraging banks to lend to home buyers at the full 30% discount below the floor on benchmark mortgage rates.
- Baidu to Share Revenue With Apple on China Iphone Search – Bloomberg
- Tragedy of Tiananmen Still Unfolds – NYTimes.com
- Consortium Buys Saab Automobile and Plans Electric Cars – NYTimes.com
More than a year after it last made a car, Saab Automobile of Sweden was sold on Wednesday to a group of Chinese, Japanese and Swedish investors who plan to convert the company into a manufacturer of electric vehicles.
- China: ‘weak growth’ for years, says Credit Suisse | beyondbrics
Remember last year when China was fretting about inflation? CPI hit 6.5 per cent in July, stoking talk of serious overheating and civil unrest.
What a difference a year makes. Last month, Chinese inflation dropped to 3 per cent. Now, says Dong Tao of Credit Suisse, China looks to be more troubled by deflation. And that could damage the economy for years to come.
- Government May Relax Mortgage Conditions – Economic Observer News- China business, politics, law, and social issues
The central government is considering policies that would make it easier for home buyers to take out mortgages on mid- and low-priced properties, the 21st Century Business Herald reported Wednesday citing unnamed sources at banks.
- ‘In the Current System, I’d Be Corrupt Too’: An Interview with Bao Tong by Ian Johnson | NYRblog | The New York Review of Books
- Special-supply food exclusively for astronauts angered Chinese netizens | Offbeat China
Yesterday, an article from Beijing News introduced a special food supply center at Jiuquan, China’s satellite launch center, that provides 100% organic food exclusively to astronauts. According to the article, the special food supply center is located on a huge area of untouched grassland. All breads at the center, from cows to fishes, are 100% organic: cows need take a one-month rest period before being milked; pigs need to be kept around 90 kg.; fishes are purely natural without feeding. Even more natural than meats, eggs there are collected from wild ducks. As commented by one of the staff working at the center: “Every single plate on astronauts’ tables is extremely carefully selected. Strangers are prohibited to enter the center. Also no cars, not even bicycles. All is to ensure zero pollution.” Between the special food supply center and astronauts dining tables, foods must also be double-checked by designated health professionals before handed over to the chef.
- 人民日报评官员“晚节” 被指再喻薄熙来_多维新闻网
- People’s Daily editorial a veiled attack on Bo Xilai: Duowei｜Politics｜News｜WantChinaTimes.com
A People’s Daily editorial condemning older Communist Party officials for turning to graft in the twilight of their political careers is a veiled attack on the disgraced former Chongqing party secretary Bo Xilai, says Duowei News, a media outlet run by overseas Chinese.
- Chinese government official becomes a woman aged 84 – Telegraph
An 84-year-old retired government official from southern China has become an unlikely trailblazer for transgender rights after speaking out about his decision to become a woman – in his ninth decade of life.
- Temasek Seeks to Boost Quota for Mainland Chinese Securities – Bloomberg
Temasek Holdings Pte, which holds stakes in China’s biggest banks, said it filed an application to boost its quota for publicly traded securities in mainland exchanges to tap the nation’s long-term growth.
- Chinese Lottery Awards Record $89.5 Million Jackpot in Beijing – Bloomberg
An unidentified man won China’s biggest-ever lottery jackpot, worth 570 million yuan ($89 million), and has yet to come forward to claim the prize, the country’s lottery agency said yesterday.
The man bought 110 tickets for the “Dual-Colored Ball” game at a shop in Beijing’s Sanlitun neighborhood, according to a statement on the website of the China Welfare Lottery Issuing and Management Center.
- Credit Suisse Sees China ‘Weak’ for Years as Forecast Cut – Bloomberg
Credit Suisse Group AG (CSGN) cut its forecast for China’s economic expansion this year to 7.7 percent on falling corporate profits and an investment slowdown and said that the nation faces years of “weak” growth.
“Investment is unlikely to see a meaningful rebound in the foreseeable future,” Tao Dong, the bank’s chief China economist said in a note today. “Government stimulus could moderate the downside risks to growth and perhaps cushion the down-cycle, but we do not see it providing sustainable upward growth momentum.” His previous estimate was 8 percent.
- Liu Yang tipped to be the first Chinese woman in space｜Culture｜People｜WantChinaTimes.com
Major Liu Yang, a 34-year-old woman from Hebei province in northern China, is expected to become the country’s first female astronaut aboard the Shenzhou-9 mission later this month.
- Debt-ridden business tycoon hangs himself in Baotou｜Society｜In-depth｜WantChinaTimes.com
A real-estate tycoon in Baotou, Inner Mongolia hung himself in a hotel June 6, becoming the latest casualty in China’s tightened housing market policies, reports the Shanghai-based National Business Daily.
- 北京5月楼市销售率仅为26% 多个项目出现零成交-财经网
The best way to read this blog is to subscribe by email, especially if you are in China, as Sinocism is still blocked here. The email signup page is here, outside the GFW. You can also follow me on @niubi or Sina Weibo @billbishop. Comments/tips/suggestions are welcome, and feel free to forward to recommend to friends. Thanks for reading.
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