Mobile Application Design - User contributions [en]

Affected-companies

2008-01-27T14:23:28Z

Neteinfo126:

he has urged all departments concerned to ensure a safe and smooth transportation during the traditional Chinese New Year holidays so that the people would enjoy a happy, peaceful and harmonious festival season.

Chinese Premier Wen Jiabao(R) talks with a truck driver at the Zhuozhou service station of the Beijing-Shijiazhuang Expressway, in north China's Hebei Province, Jan. 25, 2008. Wen Jiabao inspected the Zhuozhou Service Station of the Beijing-Shijiazhuang expressway and Beijing's West Railway Station on Friday. [Xinhua]

Wen visited a service zone of an expressway and a railway station in Beijing on Friday and inspected the traffic situation before and during the Spring Festival holidays, the busiest travel season in the country.

Related readings:
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Vice premier stresses safe transport during Spring Festival
China to see 22m travel by air during Spring Festival
178.6m to travel by train during Spring Festival

The Spring Festival traffic season is 20 days ahead and 20 days after the Chinese Lunar New Year, which falls on February 7 this year. All kinds of traffic tools will be busy with shipping homebound passengers and food and major industrial goods like coal used for power plants.
Since January 12, rare snowfalls, the heaviest in decades for some central and southern provinces have further worsened the traffic tension in the country. Many expressways and airports have been closed, forcing many passengers to choose railways as their option.

During his visits, Wen had talks with some truck drivers, passengers and staff of the Zhuozhou Service Zone of the Beijing-Shijiazhuang Expressway, 60 kilometers southwest of the national capital, and the Beijing West Railway Station, one of the most bustling traffic hubs in the country.

The premier, who is also member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, thanked the drivers and highway and railway workers for their hard work during the season.

The State Council has decided to exempt all the tolls for vegetable-loading trucks when they go by the "Green Channel" highways linking to major cities, to curb market fluctuation, he said.

Police have posted a 50,000-yuan (US$6,849) reward for information leading to the arrest of a Northwest China bank clerk who embezzled an "extremely large" sum of public funds.

The Ministry of Public Security (MPS) have issued a class B warrant for Bai Jie, 38, who is wanted in connection with the "misappropriation of public funds".

The warrant says Bai fled with the money, but gives no further details on the case.

The procuratorate of Xining, capital of Northwest Qinghai Province, started an investigation into the case on September 17 last year.

The ministry also issued a class B warrant on Chen Xinghong, 41, who was allegedly involved in an "extremely large" graft case and fled with illegal earnings.

He has been under investigation by the Qujiang District People's Procuratorate in Quzhou City, Zhejiang Province, since September 4 last year. Police have posted a reward of 20,000 yuan (US$2,739) for information leading to his arrest.

Ma Hongjiang, Huang Jianyong and Ma Jianyong are also wanted on class B warrants for the "illegal assimilation of public deposits", or using money from individuals to engage in financial activities when it should have been banked.

Their alleged activities were said to have affected more than 1,100 people and involved more than 50 million yuan (US$6.85 million).

Police of Urumqi, capital of northwest Xinjiang, started a probe of two local companies led by the three on October 9 last year.

A reward of 10,000 yuan (US$1,369) has been offered for information leading to the arrest of each person.

The ministry posted ID numbers and pictures of the five suspects on its website (www.mps.gov.cn).

Warrants issued by the MPS include class A - for emergent or extremely serious violent cases - and class B, which are issued at the request of provincial police to arrest suspects, who have disappeared. They carry rewards of at least 10,000 yuan.

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Acknowledgings

2008-01-08T16:43:49Z

Neteinfo126:

This more accurate picture of China clarifies why Beijing concentrates so heavily on domestic priorities such as growth, public investment, pollution control and poverty reduction. The number of people in China living below the World Bank’s dollar-a-day poverty line is 300m – three times larger than currently estimated.

Why such a large revision in the estimates of China’s economic condition? Until recently, China had never participated in the careful price surveys needed to convert accurately its gross domestic product into PPP dollars.

The World Bank’s estimates based on summary data from the late 1980s probably overstated China’s PPP gross domestic product even then. Up to now, the bank has revised its estimate very little. In the meantime, China has repeatedly raised the prices of food, housing, healthcare and a range of other non-traded goods and services. These reforms should have lowered the PPP adjustment, but the bank left it basically unchanged.

Last month, Robert Zoellick, World Bank president, argued that the bank should continue to lend to countries such as China, India and Brazil because they still had large shares of the world’s poor.

More than 800,000 applied to be volunteers for the Games while another 920,000 applicants are chasing 400,000 positions as "city volunteers", according to Liu Jian, head of the Volunteer department at the Beijing organising committee (BOCOG).

"Mencius says a just cause enjoys abundant support," Liu told reporters, quoting an ancient Chinese philosopher. "We should sincerely thank those people who are voluntarily offering help."

An army of volunteers has become a standard feature of the Olympics over the past few decades, helping to keep the cost of the Games down by working without pay and not charging travel and accommodation expenses.

The 80,000 recruited volunteers, nearly half of whom are university students in Beijing, had passed exams and interviews, received general training and been tried out during a series of test events, Liu said.

More than 50,000 applications came from outside Chinese mainland but Liu would not say how many overseas volunteers would be recruited.

Liu said all the city's people could demonstrate their enthusiasm for the Olympics through social and community service.

"The youngest 'volunteer' I've ever seen was a two-year-old child picking up leaves with the help of his mother," said Liu.

In a little-noticed mid-summer announcement, the Asian Development Bank presented official survey results indicating China’s economy is smaller and poorer than established estimates say. The announcement cited the first authoritative measure of China’s size using purchasing power parity methods. The results tell us that when the World Bank announces its expected PPP data revisions later this year, China’s economy will turn out to be 40 per cent smaller than previously stated.

The new, more accurate statistics describing a smaller, poorer China strengthen this argument. The ADB’s announcement also indicates that the number of dollar-a-day poor in India is closer to 800m than the current estimate of 400m.

These PPP adjustments affect poverty measures because the World Bank’s dollar-a-day poverty line is a PPP dollar poverty line. Reducing PPP consumption estimates drops large numbers of additional households below the poverty line.

For China, the correction needs to be made back to the 1980s and 1990s, when instead of World Bank estimates of roughly 300m people below the dollar-a-day poverty line, the number was more likely more than 500m. China has made enormous strides in lifting its population out of poverty – but the task was perhaps more gargantuan than most people thought and progress has been overstated by bank estimates.

These calculations are not just esoteric academic tweaks. Based on the old estimates, the US Government Accountability Office reported this year that China’s economy in PPP terms would be larger than the US by as early as 2012. Such reports raise alarms in security circles about China’s ability to build a defence establishment to challenge America’s.

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Well-informed analysts know that PPP calculations are a poor measure of a country’s potential military base, but with the corrected China PPP statistics, the whole question is moot. China is just not that big now and will not get that big any time soon.

Given uncertainties about China’s political and security evolution, this more moderate picture of China’s economic size is reassuring. It means that the US and other developed nations have more time to engage China and interact with its fledgling institutions. There might be no better place to start than with military-to-military relations.

The immediate international interest, however, is for China to succeed in its still daunting internal development challenges. Such opportunities might be manageable if engagement focused on a needy sub-region such as Sichuan Province, where the US has a flourishing Peace Corps programme. The goal is to promote economic development conducive to political moderation.

Close contact with China’s development process on the ground might also help us understand better the lessons China’s experience might have for so many poor countries where development is stalled.

Finally, both Congress and the Treasury department should recognise the limitations and opportunities revealed by these more accurate data. For example, risks to its impoverished rural hinterland from a sudden large revaluation of its currency loom larger in Beijing’s eyes than in Washington’s. Acknowledging this could smooth negotiations.

2007-11-16 07:26 AM #1

tongluren (tongluren)
Senior Member

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Status Offline Right!!

Now all that the jealous Brits have to do is to WISH away China's foreign currency reserves, and the double digit growth.

And if they wish hard enough, it would have been the Chinese banks that are now reporting the tens of billions of dollars in losses, instead of the British banks (HSBC alone was what, $3.5 Billion just for this first round, and god knows how many tens of billions are still hidden in those fraudulent books?).

The Brits are so jealous they are green at the gills. So are the Yanks. They'd have to write something, right, just to make China sound bad.

----------------------all from chinadaily corpright

Incomeconsecutive

2007-12-31T15:26:11Z

Neteinfo126:

The amendment will go into effect as of March 1, 2008.

Raising the threshold of individual income tax collection from 1,600 yuan to 2,000 yuan means a reduction of 30 billion yuan in state revenue a year, according to official statistics.

However, the rise in personal income tax collection threshold will free 70 percent of income earners from paying income tax. The current threshold of 1,600 yuan makes 50 percent of income earners free from paying the tax.

China's consumer price index climbed 6.9 percent in November, marking the fourth consecutive month the index had been above six percent. Price increases for various goods have already placed a burden on common families.

The individual income tax cutoff point was raised from 800 yuan a month to 1,600 yuan starting in 2006. This was based on an investigation of the then citizen's consumption expenditure for basic living costs.

"Over the past two years, citizen's consumption expenditure for basic living further increased. This required us to readjust the individual income tax starting point again," Finance Minister Xie Xuren told a legislative session of the National People's Congress Standing Committee.

In addition, laws on labor dispute mediation and arbitration, drug control, resolutions to the Law on Road Transportation Safety, the Frontier Health and Quarantine Law and the Law on the Protection of Cultural Relics, and a revision of the Law on Science and Technology Progress, were also adopted at the end of the session.

The session will also hear and approve work reports by the NPC Standing Committee, the Supreme People's Court, the Supreme People's Procuratorate, and a State Council plan on institutional reform.

China's top legislature on Saturday adopted a law amendment to raise the country's individual income tax threshold from 1,600 yuan a month to 2,000 yuan.

The individual income tax threshold increase was believed to relieve the economic burden of medium- and low-income earners amid the recent price increase of some goods.

Last week, the Qingdao Central Hospital in Shandong Province performed two operations to remove earphones that had become stuck inside the ears of two students hoping to cheat on national college English examinations.

The two students had hired people to call in the answers to the questions on the test, which they received through miniature earphones deep inside their ears.

The scheme seemed to have worked until they realized they could not get the earphones out.

BEIJING - Central Huijin Investment Co. (Huijin), an investment arm of the Chinese government, signed a contract with the China Development Bank (CDB) here Monday to inject US$20 billion into the state-owned policy bank.

The investment, ratified by the State Council, would sharply raise the CDB's capital adequacy and improve its risk-prevention capability, said a press release by the People's Bank of China, the nation's central bank.

The release indicated CDB was undergoing a fundamental reform to become a fully commercial financial institution.

Huijin had formerly invested in major Chinese commercial banks, including ICBC, CCB and the EverBright Bank, to help them shake off the heavy burden of bad loans before being restructured into a joint-stock company.

On December 25, Lou Jiwei, chairman of the China Investment Corp. (CIC), the country's state forex investment company, indicated at a public occasion that it controlled Huijin and was confident in the CDB's reform and restructuring.

CIC had formerly promised to invest a third of its US$200 billion capital, or about US$60 billion, in the CDB and the Agricultural Bank of China.

CDB is one of the country's three policy banks, the other two being the Eximbank and the Agricultural Development Bank. CDB's public financial data revealed it was in far better financial condition than most of the country's commercial banks.

China is scheduled to elect new State leaders, including the top legislator, the president and vice-president of China, the premier and vice premier, and ministers, at the First Session of the 11th National People's Congress (NPC), which begins on March 5, 2008.

The session, which will last for about two weeks, will elect the new chairman of the Central Military Commission and heads of the Supreme People's Court and the Supreme People's Procuratorate, according to a resolution passed by the Standing Committee of the 10th National People's Congress (NPC), at its 31st meeting which concluded here on Saturday.

The agenda also includes the reading and approval of a government report; checking and approval of reports on the implementation of the annual plan on national economic and social development in 2007 and the draft plan on national economic and social development in 2008, and checking and approval of reports on the implementation of the central and local budgets of 2007 and the draft central and local budgets of 2008.

----------------------all from chinadaily corpright

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Interests-rules

2007-12-27T15:00:49Z

Neteinfo126:

It's year-end. All restaurants have become extremely busy, with every available parking space around them occupied. Toasting each other at the huge round tables in specially reserved rooms are government officials and company managers with blank checks prepared to "entertain for business purposes".

The practice, known as "feasting on public money", is common all year round but banquets abound especially at year-end because this is the time for public relations.

You have to invite officials from organizations at the higher level to a meal, as they may make it easier next year for your department to get the annual fund allocation according to the size you hoped for. You also need to invite people from other departments at your level or those that have frequent business relations with your office or company, because mutual support is essential.

And even within your own work units, leading cadres need to meet for a year-end conference, at which a "get-together meal" is an essential part, because it will help create a harmonious atmosphere within the unit.

Nevertheless, whatever the excuse, it is the expenditure of public money for a feast for a small number of people, who mostly hold leading positions. The public resents the practice, though they have become accustomed to seeing it.

When the media revealed that hundreds of billions of yuan was spent each year on "feasting" everybody (many of whom were the banquet-goers themselves) expressed shock and indignation at the squandering of public money. Most, however, could do nothing but shake their heads and say "meibanfa" (nothing can be done). And they continue to attend these banquets, either happily or reluctantly.

There are two reasons for the tolerance of feasting on public money.

First, having meals together to enhance personal relations is part of China's traditional culture of officialdom and business partnerships. Declining an invitation to a meal will be regarded as being against human nature.

Second, feasting on public money is no longer a serious matter in many people's minds. They think eating one meal on public money is simply alright, as compared to embezzling public money or taking bribes.

It is true that people do not particularly go to such banquets to satisfy their craving for good food, but to establish or consolidate relations. They are fully aware that these relations help to take advantage of or even the loopholes in State policies and provide cover for each other in their efforts to dodge laws and regulations.

Therefore, it is no exaggeration to say that these dinner tables often nurture corruption. The harm such dinners may cause to the nation far exceeds the price of the meal.

The corruption of people's minds is far worse than the corruption of human relations. It is time we took the problem seriously before public servants and managers of State-owned enterprises no longer have any sense of shame about feasting on public money and when the public does not react positively to the problem.

We should no longer remain indifferent. Feasting on public money must be dealt with seriously. It is no different in nature to embezzlement. Legislation must be introduced to outlaw it.

Iran -- Iran and Malaysia signed a $16 billion agreement to develop two Iranian gas fields, state-run television reported Wednesday, describing the deal as the largest energy contract in Iran.

Iran's Pars Oil and Gas Company managing director, Ali Vakili(R) and Syed Mukhtar al-Bukhari(L) of Malaysia's SKS, exchange a signed agreement in front of Malaysian Ambassador to Iran Datu Munshe Afdzaluddin(2ndL) and Iran's Oil Minister Gholam Hossein Nozari in Tehran December 26, 2007. [Agencies]

Iran's Pars Oil and Gas Company (POGC) and Malaysia's SKS Ventures signed the multibillion dollar contract to develop Golshan and Ferdows gas fields in southern Iran.

The contract was formally signed by Ali Vakili, director of POGC, and Mokhtar Al-Bokhari, director of SKS Ventures, in the capital Tehran on Wednesday, according to the report.

"This contract worth $16 billion. Some $6 billion is for development of offshore and $10 billion for development of onshore gas fields for a period of 25 years," Vakili told the official IRNA news agency.

Iran's Oil Minister, Gholam Hossein Nozari, said the deal was a vindication of his country's efforts to counter pressures to isolate his nation.

"This is the biggest investment contract in the country's energy sector," the official IRNA news agency quoted Nozari as saying.

Nozari said an economic boom in southeastern Asia has sharply increased its need for imported oil and gas and that the contract with Malaysia has to be seen in that light.

The reserves at the Golshan gas field, 65 kilometers from the southern port city of Bushehr, is estimated more than 50 trillion cubic feet of gas and it is expected to produce 2.5 billion cubic feet of natural gas per day.

The Ferdows' gas reserves is estimated at around 10 trillion cubic feet and it would produce more than 880 million cubic feet of gas on a daily basis.

But the hospital staff were bound by the agreement which ultimately cost the lives of two people, including the baby. It was the only possible choice of the hospital staff, for otherwise, they would have to bear responsibility for the consequences.

The husband was reluctant to sign the agreement because of the legal meaning of the signature. He knew he would have to bear all costs and the risk of the operation once he signed.

This tragedy typically shows the impact of legal concerns that arise in hospital-patient conflicts that occur frequently today. The increase in the strict obedience of the law, no matter the circumstances, is the result of efforts to make more people aware of the laws in recent years.

In the past, Chinese people would follow their ethical intuition in this kind of situation; but now they have become more "cool-minded" (or rather, cold-hearted).

The development of the understanding of laws in society is certainly a mark of social progress. However, there must be something wrong with the understanding of a particular law if it is followed so rigidly that a human life has to be lost. If the law itself states so, then it should be thrown into the dustbin.

Our problem is that over many years our efforts to promote knowledge of the laws, and the media reports about law-related cases, have been too focused on judicial responsibility. It prompts people to worry: "What kind of legal consequence will I face."

What kind of slogan have we used most in promoting knowledge of the laws? "Learn to protect your rights by legal means." People's understanding of the laws today is more an association between legality and interests. In a certain sense, our people have been misled.

Laws, in their original sense, requires people, in the first place, to observe certain rules so as to ensure that society gets along in an orderly and harmonious manner. It then punishes violators of the rules and regulations. In other words, for citizens, abiding by the laws to maintain social order is of primary importance, while avoiding violation of them, which incurs punishment, is of secondary importance.

Here the first thing is a legal obligation to maintain social justice while the second is to protect one's personal interests. People, however, intentionally or unintentionally, limit their understanding of law on the latter.

If anyone among the doctors, officials and policemen in the pregnant woman case had a correct understanding of the true meaning of law, someone would have said: "Put the legal responsibilities aside. Start the operation now."

----------------------all from chinadaily corpright

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