Posts tagged ‘China’

01/04/2014

Almost 10,000 Divorces Each Day in China’s Breakup Boom – Businessweek

China is facing a boom in breakups. Almost 10,000 marriages end in divorce every day, a figure that has been growing for the past decade, according to a report in China Daily citing Zhang Shifeng, head of the department of social affairs at the Ministry of Civil Affairs.

Almost 10,000 Divorces Each Day in China's Breakup Boom

In 2012, the last year for which figures were available, China counted 3.1 million divorces, up 133 percent over 2003. Big cities are the epicenter of China’s new wave of “conscious uncoupling,” including Shanghai, Tianjin, and Beijing. In the capital, 164,000 couples tied the knot in 2012, while one-third as many dissolved their marriages—pushing the number of divorces up 65 percent since 2011.

In most cases the irreconcilable differences at the root of China’s rising divorces are common ones around the world: Top of the list are extramarital affairs, domestic violence, and an inability to communicate, said Du Huanghai, a Shanghai attorney cited in the China Daily report. Urbanites in their 20s and 30s “lack the patience to adapt to each other or make the necessary compromises, so their marriages are often in a fragile state,” Du said.

via Almost 10,000 Divorces Each Day in China’s Breakup Boom – Businessweek.

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01/04/2014

China charges former senior military officer with graft: Xinhua | Reuters

China has charged former senior army officer Gu Junshan with corruption, state news agency Xinhua said, in what is likely to be the country’s worst military scandal since a vice admiral was jailed for life for embezzlement in 2006.

An unfinished residence which belongs to former People's Liberation Army (PLA) General Gu Junshan is pictured in Puyang, Henan province January 19, 2014. REUTERS/Stringer

In a renewed campaign on graft, Chinese President Xi Jinping has vowed to go after both powerful “tigers” and lowly “flies”, warning that the issue is so severe it threatens the ruling Communist Party’s survival.

Gu has been charged with corruption, taking bribes, misuse of public funds and abuse of power, Xinhua said on one of its official microblogs on Monday. He will be tried by a military court, it added.

Three sources with ties to the leadership or military, speaking on condition of anonymity, said Gu also sold military positions.

Gu has been under investigation for corruption since he was sacked as deputy director of the logistics department of the People’s Liberation Army (PLA) in 2012, sources have said.

Sources told Reuters this month that Xu Caihou, 70, who retired as vice chairman of the powerful Central Military Commission last year and from the Communist Party’s decision-making politburo in 2012, was under virtual house arrest while helping in the probe into Gu.

As one of Gu’s main supporters in his rise through the ranks, Xu is being implicated in ignoring, or at least failing to report, Gu’s alleged misdeeds.

Reuters has not been able to reach either Xu or Gu for comment. It is not clear if they have lawyers.

via China charges former senior military officer with graft: Xinhua | Reuters.

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31/03/2014

China’s Huawei books quickest profit growth in four years on smartphone demand | Reuters

China’s Huawei Technologies Ltd, the world’s No.2 telecommunications equipment maker, reported its fastest profit growth in four years as expansion in enterprise and consumer revenue far exceeded growth in its network building division.

A man looks at a Huawei mobile phone as he shops at an electronic market in Shanghai January 22, 2013. REUTERS/Carlos Barria

The unlisted company has benefited from companies investing heavily in cloud and mobile computing, while it has shipped so many mobile handsets that it became the world’s third-biggest smartphone manufacturer last year.

Shenzhen-based Huawei is now looking for revenue from Chinese mobile phone operators switching to fourth-generation networks to cushion the impact of a slowdown in network spending abroad.

In 2013, net profit rose 34.4 percent to 21 billion yuan ($3.38 billion), the company said in a statement on Monday.

Operating profit was 29.1 billion yuan, compared with the company’s forecast range of 28.6 billion yuan to 29.4 billion yuan.

via China’s Huawei books quickest profit growth in four years on smartphone demand | Reuters.

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30/03/2014

Civil service jobs in less demand – China – Chinadaily.com.cn

The number of applicants for civil service jobs has dropped in most places so far this year, according to information released by provincial-level governments.

Sixteen of the 18 provinces, municipalities and autonomous regions that released employment information on Thursday saw a decrease in applicants year-on-year.

The number of applicants in Zhejiang province was down 37 percent from 360,000 last year to 227,000 this year, according to the human resources and social security department.

Most other provinces saw a decrease of between 10 and 30 percent this year, the Beijing News reported.

Only Shaanxi province and the Inner Mongolia autonomous region have seen increases in the number of applicants this year.

Meanwhile, 15 provincial-level governments have cut the number of civil service positions available. The number of posts in Zhejiang province, for example, is about 1,500 less than last year.

Civil service jobs have long been deemed ideal for many college graduates. The central authorities, provincial-level governments and city governments respectively recruit civil servants once a year.

In 2013, for example, 1.52 million graduates took the national civil service exam. On average, about 77 applicants competed for each available position. The most desirable posts saw a competitive ratio of 7,192 to 1.

Gu Ruocun, a graduate from Shandong Normal University who works for a private company, said that more than half of his classmates applied for positions in the provincial government last year.

“In my opinion, civil service is a decent job with decent pay,” he said, adding that he is preparing for this year’s application exam after failing a year ago.

Xu Yaotong, a professor of public administration at the Chinese Academy of Governance, said that the central government has begun reforms to streamline public agencies. Local governments will tend to follow suit to decrease the number of new civil posts, Xu said.

The decrease in applicants this year shows that the public has been changing its attitude toward such jobs, he said, adding that it is good news that more young people want to work outside of the government.

via Civil service jobs in less demand – China – Chinadaily.com.cn.

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30/03/2014

Americans Must Adjust to a World Dominated by China – Fed’s Bullard – China Real Time Report – WSJ

This post originally appeared on Real Time Economics.

It won’t be long until the U.S. is eclipsed economically by China—and Americans need to start thinking about how to adjust to such a world.

That’s according to Federal Reserve Board of St. Louis President James Bullard, who spoke to the Wall Street Journal on the sidelines of a conference during a recent visit to Hong Kong.

“Attitudes in the U.S. are going to have to change, because the U.S. will not permanently be the global leader,” Mr. Bullard said.

China is already the largest economy in the world after the United States, and is growing much faster than the U.S. Not too far in the future — estimates range from as soon as 2016 to as “distant” as 2028 — it will surpass the American economy in size.

Most likely, China will eventually match the U.S. in per capita income terms as well. With a population about four times as large as America’s, that would imply a massive shift in the global balance of power.

In that case, “the U.S. would be playing a role to China similar to the role the U.K. plays to the U.S. today,” Mr. Bullard said. “People think it’s 50-75 years away but it’s probably only 25 or 20 years away, something like that.”

China’s economy currently is a little more than half the size of America’s, IMF data show, clocking in at $8.9 trillion in 2013 versus $16.7 trillion for the U.S.

But China’s economy is growing much more quickly, targeting growth of about 7.5% this year. In contrast, the U.S. economy will be lucky to grow by 3%.

Then there’s India, another economy of a billion-plus people that’s also growing quickly. Eventually, Mr. Bullard said, he can foresee a tri-polar world in which China and India are the major economic powers, counterbalanced by a bloc of the United States, Europe and Japan, whose populations together will total about one billion people.

“We’ve said the U.S. is a superpower, an economic superpower. But these are giants, they’re bigger than a superpower,” he said. “What would that world be like, both economically and politically? I think that’s really hard to understand. How much would the Western bloc be willing to cooperate politically to be a counterbalance to China and India?”

Mr. Bullard offered few specifics of what such a world would look like, but did acknowledge that it might require some adjustment on the part of ordinary Americans like those he serves in the heartland.

via Americans Must Adjust to a World Dominated by China – Fed’s Bullard – China Real Time Report – WSJ.

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30/03/2014

Germany, China say renminbi hub in Frankfurt will boost trade | Reuters

A decision by Germany and China to make Frankfurt a European hub for financial transactions in the Chinese currency will give new momentum to trade between the two economic powers, Chinese President Xi Jinping and a German minister said on Saturday.

China's President Xi Jinping waves to media following a joint news conference with German Chancellor Angela Merkel after an agreement signing, at the Chancellery in Berlin March 28, 2014. REUTERS/Fabrizio Bensch

In a speech to politicians and business leaders in the city of Duesseldorf, Xi said setting up the hub for the renminbi in Germany “represents an important step on the road of the internationalisation of our currency,” according to a translation.

The Bundesbank and the People’s Bank of China signed an agreement on Friday to facilitate transactions in the Chinese currency in Frankfurt and to cooperate more closely in clearing and settlement arrangements of renminbi payments.

Up to now, transactions in China’s currency, the renminbi or yuan, have been impractical for all but very large European companies that are able to involve China’s central bank in a deal, because the renminbi is not freely convertible.

via Germany, China say renminbi hub in Frankfurt will boost trade | Reuters.

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30/03/2014

Exclusive: China seizes $14.5 billion assets from family, associates of ex-security chief – sources | Reuters

Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, two sources said.

China's Public Security Minister Zhou Yongkang reacts as he attends the Hebei delegation discussion sessions at the 17th National Congress of the Communist Party of China at the Great Hall of the People, in Beijing in this October 16, 2007 file photo. REUTERS/Jason Lee/Files

More than 300 of Zhou’s relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months, the sources, who have been briefed on the investigation, told Reuters.

The sheer size of the asset seizures and the scale of the investigations into the people around Zhou – both unreported until now – make the corruption probe unprecedented in modern China and would appear to show that President Xi Jinping is tackling graft at the highest levels.

But it may also be driven partly by political payback after Zhou angered leaders such as Xi by opposing the ouster of former high-flying politician Bo Xilai, who was jailed for life in September for corruption and abuse of power.

Zhou, 71, has been under virtual house arrest since authorities began formally investigating him late last year. He is the most senior Chinese politician to be ensnared in a corruption investigation since the Communist Party swept to power in 1949.

“It’s the ugliest in the history of the New China,” said one of the sources, who has ties to the leadership, requesting anonymity to avoid repercussions for speaking to the foreign media about elite politics.

The government has yet to make any official statement about Zhou or the case against him and it has not been possible to contact Zhou, his family, associates or staff for comment. It is not clear if any of them have lawyers.

via Exclusive: China seizes $14.5 billion assets from family, associates of ex-security chief – sources | Reuters.

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29/03/2014

This is why Germany doesn’t want China anywhere near Berlin’s holocaust memorial

26/03/2014

Fashion contest the focus of ‘first lady diplomacy’ during Michelle Obama’s China visit | South China Morning Post

The closely watched day spent together by the first ladies of China and the United States have sparked lively online discussions this week. Comparison of the two women kicked off the moment Peng Liyuan, the glamorous singer wife of Xi Jinping, welcomed her counterpart Michelle Obama at a Beijing high school on Friday morning.

That the two have much in common is obvious: both women, in their early 50s, are lauded for their sense of style, are highly-educated and managed successful careers before their husbands became leaders. Both are active in charity initiatives in public health, and both have daughters.

Commenting on everything from their choice of outfits to the details of their visits, the curious online public were amazed by the juxtaposition of these two women with strong personalities.

Thomas Ye, a widely followed fashion blogger on Chinese social media platforms who tweets under “Gogoboi”, graded their attire:

Chinese President Xi Jinping (C) and his wife Peng Liyuan (R) show the way to US first lady Michelle Obama (L) as they proceed to a meeting room at a guest house in Beijing on March 21, 2014. Photo: AFP

“Fashion contest first round: Michelle Obama’s casual black waistcoat, shirt and wide-legged trousers were eclipsed by a dignified Peng, exemplified by her formal navy blue suit, decorated with a red purse. Top points to Peng,” he wrote on Sina Weibo over the weekend.

The second round, however, went to Obama, who “hit back” with a joyful red dress by designer designer Naeem Khan  when she showed up for a banquet at the Diaoyutai State Guesthouse on Friday evening.

Several official media outlets joined the discussion.

The official China Daily said in a photo caption showing their dresses: “The first ladies of China and the US … have much in common: They are symbols of glamour in their own countries and stand uneclipsed by their more powerful husbands. They are loved by the public not because of their spouses but for who they are. Each woman has created a ‘power centre’ – a kind of soft power – from a combination of femininity and self-assertion”.

China once again embraced the idea of “first lady diplomacy” since Xi Jinping took power in 2013, in the hope of giving a soft touch to the country’s rising assertiveness. The country’s last visible “first lady” was the charismatic Wang Guangmei, wife of Liu Shaoqi, who held the presidency between 1959 and 1966.

Peng’s increasing popularity with the public – thanks to her gracious manners and elegant style gained through her years as a professional performer – raises questions about the extent of her role.

via Fashion contest the focus of ‘first lady diplomacy’ during Michelle Obama’s China visit | South China Morning Post.

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26/03/2014

2nd-child policy hurts female job application – China – Chinadaily.com.cn

China has loosened its family planning policy by allowing couples to have a second child if either parent is an only child. Unfortunately, the policy has resulted in discrimination against some married women who are looking for jobs or are already employed, according to the Xinhua News agency.

2nd-child policy hurts female job application

Xia Fang, a Changsha local who gave birth to her first child 10 months ago, said that during job interviews she is always asked if she is an only child or if she plans to have a second child.

“I don’t plan to have a second child. But when potential employers learn that my first child is a girl, they think I’m likely to have another baby,” said Xia.

Before the second-child policy was introduced, married women with children and work experience had an advantage in the job market, but now they are being confronted with gender discrimination again, Xia added.

Female employees of child-bearing age are being affected, as well. A white collar worker surnamed Liu said she was passed over for a promotion that went to a young man, because her boss thought she might plan to have a second child.

“Women have to work harder to be given equal status in the workplace. And many face pressure from their families to have second children, which can affect their career prospects,” Liu said.

“Companies can predict the cost of a female employee’s maternity leave when they’re allowed to give birth to only one child,” said Li Bin, a professor of sociology at Zhongnan University. “But some middle and small-sized companies can’t bear the costs of two leaves in a few years.”

via 2nd-child policy hurts female job application – China – Chinadaily.com.cn.

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