Archive for March, 2013

02/03/2013

* China targets 15 pc of satellite launch market

SCMP: “China is looking to increase its share of the global commercial satellite launching business, targeting a 15 per cent share by 2020.

chinasat.jpg

China has just 3 per cent of the market now, but the goal laid out on Saturday by a leading space programme official points to its ambitions to be a major player in space.

The deputy head of the China Academy of Launch Vehicle Technology, Liang Xiaohong, told the official Xinhua News Agency that China hopes to accomplish that by establishing strategic alliances with major launch services providers and satellite manufacturers, along with developing its own technology.

China’s main competition in the launch market comes from Europe and the US

Liang said China’s first solid-fuel rocket that could be launched on short notice would make its first flight by 2016.”

via China targets 15 pc of satellite launch market | South China Morning Post.

02/03/2013

Oh dear. It’s a case of “one the one hand, but on the other … “

01/03/2013

* China’s billionaires on rise

China Daily: “China has had more billionaires created by its stock markets this year than in the United States – 212 compared with 211 – a new survey revealed on Thursday.

China's Rich List – The Inside Story

According to the latest Hurun Global Rich List 2013, there were 1,453 people in the world with personal wealth of $1 billion or more at the end of January.

Another significant sign of more wealth being created in the East came with figures showing Asia was home to the highest number of billionaires, with 608, followed by 440 from North America and 324 from Europe, said Hurun researchers.

Among individual countries, the US and the Greater China area dominated with 408 and 357 respectively, followed by Russia, Germany and India.

Between them, the US and China now have half of all billionaires on the planet.

Moscow, with 76 billionaires, is the billionaire capital of the world, followed by New York, Hong Kong, Beijing and London, according to the report.

Mexican telecom czar Carlos Slim, 73, was ranked as the “Richest Man on the Planet” with a personal fortune of $66 billion, followed by US investor Warren Buffett with $58 billion in wealth.

Founder of fashion brand Zara, Amancio Ortega of Spain, shoots into the top three with $55 billion in wealth.

Real estate, telecommunications, media, technology and retail were the most common sources of wealth, the report added.”

via China’s billionaires on rise |Economy |chinadaily.com.cn.

01/03/2013

* Hurun rich list stirs Chinese zodiac discussion

English: The carvings with Chinese Zodiac on t...

English: The carvings with Chinese Zodiac on the ceiling of the gate to Kushida Shrine in Fukuoka ) (Photo credit: Wikipedia)

SCMP: “The publication of the Hurun Global Rich List 2013, which revealed the top 10 wealthiest Chinese billionaires, on Thursday has triggered discussion among Chinese netizens about the Chinese zodiac signs of the rich.

 

The dragon is the most common zodiac sign among the billionaires, followed by the horse, said a post by China’s Global Times.

Commenting on the list of billionaires, one netizen wrote, “Chinese officials must be laughing at this so-called ‘rich list’.”

Others chimed in with comments on Chinese zodiac signs. “Dragons are born with a kind of self-confidence. They are destined to play a strong role,” one said.

Another claimed, “I will give birth to a ‘dragon baby’ and a ‘horse baby’!”

A third wrote, “Global Times, mind your own business.”

The report, compiled by the Shanghai-based Hurun Research Institute, showed that Hong Kong entrepreneurs make up the majority of the list, followed by those from Beijing, Shanghai and Shenzhen.

The top industry sector favoured by the Chinese billionaires on the list is real estate, followed by manufacturing, finance and investment, and information technology.”

via Hurun rich list stirs Chinese zodiac discussion | South China Morning Post.

01/03/2013

* Returning overseas students on the rise

China Daily: “China has seen a surge in the number of students returning to the country after studying overseas, the Ministry of Education said on Thursday.

English: Zhang Yesui(Chinese Ambassador to the...

English: Zhang Yesui(Chinese Ambassador to the United States), his wife and Chinese overseas student in America 中文: 张业遂(中国驻美大使)夫妇与中国留学生 (Photo credit: Wikipedia)

More than 272,000 people returned last year, 86,700 more than in 2011, a 46 percent increase, according to the authority.

At the same time, 399,600 students went abroad, up 17.65 percent.

The country is actively encouraging students to return home after studying overseas, Zhang Xiuqin, director of the Ministry of Education’s department of international cooperation and exchanges, said at a news conference on Thursday.

“The ministry holds entrepreneur competitions and encourages enterprises to hire talent from overseas,” she said. “The ultimate goal is to attract more and avoid a brain drain, which is a global problem.”

According to the ministry, of the 2.64 million students who have gone abroad since 1978, 1.09 million — about two-fifths — have returned.

However, Zhang said the number of returnees has risen year-on-year.

The latest annual report on the development of Chinese studying abroad, which was compiled by the Center for China and Globalization and Mycos, an independent consulting firm, said that in 2011 the return rate reached 36.5 percent.

The report found that more overseas students are willing to return. The top two reasons are more economic opportunities and career development.”

via Returning overseas students on the rise |Society |chinadaily.com.cn.

01/03/2013

* Pinaka rockets successfully test-fired for second day

Times of India: “Indigenously developed ‘Pinaka‘ rockets were successfully test-fired, on the second consecutive day on Friday, from a multi-barrel rocket launcher (MBRL) by an armament establishment from a base in Odisha.

English: Pinaka is a multiple rocket launcher ...

English: Pinaka is a multiple rocket launcher produced in India and developed by the DRDO for the Indian Army. (Photo credit: Wikipedia)

“Three rounds of Pinaka rockets were successfully tested today from the base at Chandipur, about 15 km from here, while three rounds had been fired yesterday,” defence sources said.

On January 30 and 31, this year, seven rounds of ‘Pinaka’ rockets were tested from the same base.

‘Pinaka’, which has undergone several tough tests since 1995, has already been inducted into the armed forces.

The trial was conducted by personnel from Armament Research and Development Establishment ( ARDE), Pune unit at Proof and Experimental Establishment (PXE) firing point-2 at Chandipur, the sources said.

“The MBRL, capable of acting as a force-multiplier, has been developed to supplement artillery guns,” a defence official said.

‘Pinaka’ is an area weapon system with a range of 40 km. The quick reaction time and high rate of fire of the system gives an edge to the army during a low-intensity conflict situation, he said.

The unguided rocket system is meant to neutralise large areas with rapid salvos. ‘Pinaka’ system can fire a salvo of 12 rockets in 44 seconds, the sources said, adding that the battery of six launchers can neutralise at a time a target area of 3.9 sq km.

The system’s capability to incorporate several types of warheads makes it deadly for the enemy as it can even destroy solid structures and bunkers.”

via Pinaka rockets successfully test-fired for second day – The Times of India.

01/03/2013

* China plans bond overhaul to fund $6 trillion urbanization

Reuters: “China plans major bond market reform to raise the money the ruling Communist Party needs for a 40 trillion yuan ($6.4 trillion) urbanization program to buoy economic growth and close a chasm between the country’s urban rich and rural poor.

A man walks past a construction site for a new stadium in Mentougou district, suburb of Beijing February 28, 2013. REUTERS-Kim Kyung-Hoon

The Party aims to bring 400 million people to cities over the next decade as the new leadership of president-in-waiting Xi Jinping and premier-designate Li Keqiang seek to turn China into a wealthy world power with economic growth generated by an affluent consumer class.

The urban development would be funded by a major expansion of bond markets, sources with leadership ties, and a senior executive at one of China’s “Big Four” state banks, who was formerly at the central bank, told Reuters.

“The urbanization drive will push the domestic capital market liberalization agenda,” the senior bank executive said on condition of anonymity. “Urbanization is Li Keqiang’s big project. He has to get it right and he is willing to pursue innovation to make it a success.”

Set to be confirmed as premier at the end of the annual meeting of China’s rubber-stamp parliament, which opens next week, Li must find ways to pay for the urban development that he has made a policy priority.

Central and local governments, as well as bank loans, will fund the costs, the sources said. But, sweeping reforms to create a fully-functioning municipal bond market, boost corporate and high-yield bond issuance and actively steer foreign capital into the sector, are crucial to raising the sums of money China will need, they added.

Despite its ranking as the second-largest economy globally after three decades of stellar growth, China remains an aspiring middle-income country riven with inequality and dependent on state-backed investment.

“If we continue to walk down the path of government spending, it’ll be like wearing new shoes, but walking the old road,” a source with leadership ties said, requesting anonymity to avoid repercussions for speaking to foreign media without authorization.”

via Exclusive: China plans bond overhaul to fund $6 trillion urbanization – sources | Reuters.

01/03/2013

* From builders to managers: educating China’s leadership

Reuters: “Sun Zhengcai earned his PhD from China Agricultural University in 1997, experimenting with different fertilizers for crop rotation in northern China, according to his doctoral thesis.

Sun Zhengcai, then party chief of Jilin province attends a meeting held on the sidelines of the 18th National Congress of the CPC, in Beijing, in this November 9, 2012 file photo. Sun earned his PhD from China Agricultural University in 1997, experimenting with different fertilizers for crop rotation in northern China, according to his doctoral thesis. Sun represents one of the more far reaching changes in Chinese politics. Highly educated leaders in a broad range of disciplines are rising to the top of the ruling Communist Party, according to data from Connected China, a Reuters database application that tracks the connections and careers of China's leaders. REUTERS-China Daily-Files

For the world’s biggest grain grower and consumer, this type of research is crucial for improving yields. But it was an unlikely qualification for political leadership in China where engineers have traditionally held many of the top posts.

Sun represents one of the more far reaching changes in Chinese politics. Highly educated leaders in a broad range of disciplines are rising to the top of the ruling Communist Party, according to data from Connected China, a Reuters database application that tracks the connections and careers of China’s leaders.

Sun, 49, who joined the Politburo at November’s Communist Party Congress, is one of five PhD holders in a body in which all 25 members have at least a junior college education.

Some education experts explain the rise of this more highly educated leadership class as a product of the increasing complexity of China’s economy and society.

It also reflects an evolution in the Party. A generation of revolutionary soldiers gave way to technocratic engineers who guided the following period of industrialization. The engineers are now handing over to leaders better qualified to run the world’s second-biggest economy.

“As the society matures, it is always beneficial to have a leadership with diverse backgrounds,” said Gong Peng, a Professor at Tsinghua University’s Center for Earth System Science. “They bring different thinking and skills to the administration.”

The data from Connected China shows far more Politburo members now hold PhDs and graduate degrees than earlier leadership generations.

It also shows that education is not necessarily the only path to power: loyalties forged during political posts in the provinces, and family ties to former leaders also matter a great deal.

DR XI AND DR LI

The other PhD holders in the current Politburo are party leader and incoming President Xi Jinping, who studied China’s rural markets at Tsinghua University. Li Keqiang, expected to become Premier after the National People’s Congress in March, has a PhD in economics from Peking University. Liu Yandong studied China’s political development at Jilin University, and fellow Politburo member Li Yuanchao explored socialist art and culture in his thesis at the Central Party School.

The current Politburo also features nine members with masters degrees and three with other higher degrees. That stands in stark contrast with members of the 14th Politburo formed in 1992. Only Hu Jintao and Wen Jiabao, who became China’s top leadership duo a decade later, had graduate degrees in that group.

The change in the breadth of education has also been dramatic. Ten years ago, 15 of the 20 college-educated members of the Politburo were trained in engineering or the physical sciences. At the very top of China’s hierarchy, engineers were even more heavily represented.

In the nine-member Politburo Standing Committee appointed in 2002, eight members of the party’s top decision-making body were engineers and one was a geologist. Of these, four were engineering graduates of Tsinghua.

The current Politburo has only four engineers. They are outnumbered by colleagues with training in economics, finance and business management. It also shows a sharp increase in members educated in law, humanities and social sciences. The seven-member Standing Committee has only two engineers; Xi Jinping, who has an undergraduate degree in chemical engineering and Yu Zhengsheng who worked in missile guidance.

For some Chinese educators, the presence of fewer engineers at the top is a welcome development after decades in which technocratic leaders, often Soviet trained, dominated decision-making in Beijing.

“Engineers who do not learn about management may not be good managers and eventually good administrators,” says Tsinghua’s Gong. “I think it will improve the governing quality in China.”

WORLDY LEADERS

In the early 1980s, then paramount leader Deng Xiaoping directed the party to foster a generation of better educated cadres who could accelerate China’s market reforms.

China’s subsequent rise as a major trading nation and growing military power is also increasing pressure on the party to select better educated and more worldly leaders, political analysts and education experts say.

“Because the country is changing and the world is changing, it requires a more sophisticated understanding of the issues,” says Yu Maochun, an expert on Chinese politics and a professor at the Annapolis, Maryland-based United States Naval Academy.

Some experts question whether academic qualifications are as important as loyalty and family ties in a political system where many senior leaders, including Xi Jinping, are “princelings”, children of senior party veterans.”

via Analysis: From builders to managers: educating China’s leadership | Reuters.

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01/03/2013

For most Chinese, this sign will raise a wry smile. It obviously harks back to the early 1900s

when the famous Bund Park in Shanghai featured a sign of regulations that included 

restricting the park to Western community and that dogs were not allowed. In Bruce Lee’s famous ‘Fist of Fury’ it was abbre

viated to “Chinamen and dogs not allowed”.

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