In China, Despair for Cause of Democracy After Nobel Laureate’s Death

(THIS ARTICLE IS COURTESY OF THE NEW YORK TIMES)

 

A memorial to Liu Xiaobo in Hong Kong this week. In mainland China, attempts to pay tribute to Mr. Liu, a Nobel Peace laureate, have met with censorship and arrests. CreditVincent Yu/Associated Press

BEIJING — For years, the fiery band of activists pushing for democracy in China looked to Liu Xiaobo, the jailed Nobel Peace laureate, as a source of inspiration. They created social media groups devoted to his iconoclastic poetry. They held up his photos at rallies, demanding justice and transparency.

But Mr. Liu’s death last week of liver cancer, after a final, futile attempt by friends to bring about his release, has dealt a withering blow to the pro-democracy movement. Some say it is now at its weakest point since the Tiananmen Square crackdown in 1989.

“It’s a turning point,” said Yan Wenxin, a human rights lawyer in Beijing. “The feeling of powerlessness among activists has peaked.”

Under President Xi Jinping, the government has imprisoned dozens of lawyers, journalists and advocates and tightened controls over the internet. Now, the ruling Communist Party’s feverish attempts to erase Mr. Liu’s legacy have raised fears that Mr. Xi will intensify his campaign against activists pushing for ideas like freedom of speech and religion.

The authorities, wary of turning Mr. Liu into a martyr, have in recent days censored online tributes and arrested activists who have sought to publicly remember him.

“People are full of sorrow, anger and desperation,” said Zhao Hui, 48, a dissident writer who goes by the pen name Mo Zhixu. “We hope the democratic activists who still remain can keep the flame alive. But bringing about change to the bigger picture might be too much to ask.”

Photo

Wu Qiang drove hundreds of miles to be near Mr. Liu as he was dying. Many of Mr. Wu’s fellow dissidents now have a desire to “turn sorrow into strength,” he said. CreditZhu Zhu

The passing of Mr. Liu, who preached peace and patience, has provoked debate about the best path toward democracy. Many activists argue that more forceful tactics are necessary to counter what they see as unrelenting government hostility. Some have pushed for mass protests, while a small number believe that violence is the only option, even if they do not endorse it outright.

“Some have turned to believe in violent revolution,” said Hu Jia, a prominent dissident who served more than three years in prison for his activism and still faces routine surveillance. “It makes people feel the door to a peaceful transition has closed.”

Mr. Liu’s allies remain incensed by the Chinese government’s handling of his case. Officials disclosed that Mr. Liu, 61, had advanced liver cancer only when it was too late to treat it, prompting accusations that his medical carewas inadequate. The authorities have also prevented his wife, Liu Xia, an artist and activist, from speaking or traveling freely.

The scrutiny facing government critics is likely to grow even more suffocating in the months ahead.

The Communist Party will hold a leadership reshuffle this fall, at which Mr. Xi is expected to win another five-year term and appoint allies to key positions. In the run-up to the meeting, the party is tightening its grip on online communications and escalating pressure on critics.

Human rights advocates say that the party appears increasingly hostile toward dissent and intent on quashing even small-scale movements. Over the past two years, dozens of human rights lawyers have been jailed and accused of conspiring with foreign forces to carry out subversive plots. Mr. Xi’s government, wary of grass-roots activism, has also increased oversight of domestic and foreign nonprofit organizations.

Yaxue Cao, an activist who grew up in China but is now based in the United States, said Mr. Liu’s death was “the climax of a long and continuous stretch of ruthless elimination.” She recited a long list of critics who had been sidelined since Mr. Xi rose to power in 2012, which she said had led to a culture of fear and intimidation.

“The party has been working systematically to block the path forward,” she said. “A few hundred or a few thousand activists are nothing for the party.”

Advocates say they were startled that foreign leaders did not speak out more forcefully about the treatment of Mr. Liu. While American diplomats called on China to allow Mr. Liu to travel abroad for cancer treatment, Mr. Trump did not speak publicly about the case.

The Chinese authorities released this photo of Mr. Liu’s wife, Liu Xia, taken as his ashes were lowered into the sea last week. She has been prevented from speaking or traveling freely.CreditShenyang Municipal Information Office, via Agence France-Presse — Getty Images

“Western countries have adopted a policy of appeasement,” Mr. Hu said. “The Communist Party has the resources to whip whomever they want.”

The Chinese government has defended its treatment of Mr. Liu and accused foreign critics of meddling in its affairs.

While China has seemed less responsive to foreign pressure on human rights issues in recent years, several activists said they thought it was still important for world leaders to speak out.

“We hope the West can maintain its moral position,” Mr. Zhao said. “Even though the pressure is not as effective as it should be, it needs to be expressed.”

Despite the government’s efforts to limit dissent, some of Mr. Liu’s supporters say they have emerged more energized in the days since his death. They see hope in a middle class that is increasingly outspoken; grass-roots activists who are taking on issues as varied as pollution and forced demolitions of homes; and a generation of young advocates who have taken on causes like feminism and rights for gay, lesbian, bisexual and transgender citizens.

“How long can such an approach last before discontent boils over?” said Maya Wang, a researcher at Human Rights Watch in Hong Kong. “One only needs to look at the protests, particularly in the countryside, to see the enormous grievances there are out there.”

In the aftermath of Mr. Liu’s passing, his admirers have found ways around the government’s controls on speech to honor him. Several supporters uploaded photos of the ocean this week as a tribute to Mr. Liu, whose ashes were spread at sea.

Wu Qiang, a dissident intellectual, drove about 400 miles last week from Beijing to the northeastern city of Shenyang, where Mr. Liu was being treated, to be near him in his final days. Mr. Wu, 46, said Mr. Liu’s death had left many of his admirers with a desire to “turn sorrow into strength.”

“On one side is darkness; on the other side is hope,” he said. “We need to find a new way forward.”

China Shows Off Their First Aircraft Carrier To The Public

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

China’s carrier open to the public

Hong Kong residents march to defend freedom as China’s president draws a ‘red line’

(THIS ARTICLE IS COURTESY OF THE WASHINGTON POST)

Hong Kong residents march to defend freedom as China’s president draws a ‘red line’

 July 1 at 7:48 AM
 Tens of thousands of Hong Kong residents marched through the streets in defense of their cherished freedoms Saturday, in the face of what many see as a growing threat from mainland China, exactly two decades after the handover from British rule.Earlier in the day, China’s president, Xi Jinping, marked the 20th anniversary of the handover with his sternest warning yet to the territory’s people: You can have autonomy, but don’t do anything that challenges the authority of the central government or undermines national sovereignty.

Under the terms of the 1997 handover, China promised to grant Hong Kong a high degree of autonomy for at least 50 years, but Xi said it was important to have a “correct understanding” of the relationship between one country and two systems.

“One country is like the roots of a tree,” he told Hong Kong’s elite after swearing in a new chief executive to govern the territory, Carrie Lam. “For a tree to grow and flourish, its roots must run deep and strong. The concept of one country, two systems was advanced first and foremost to realize and uphold national sovereignty.”

Many people in Hong Kong accused China of violating the territory’s autonomy in 2015 by seizing five publishers who were putting out gossipy books about the Chinese leadership and allegedly distributing them on the mainland.

Some are also angry that Beijing intervened to disqualify newly elected pro-independence lawmakers who failed to correctly administer the oath of office last year. Many people are worried about a steady erosion of press freedom, and that in a range of areas China is increasingly determined to call the shots.

But Xi made it clear that challenges to Beijing’s authority would not be allowed.

“Any attempt to endanger China’s sovereignty and security, challenge the power of the central government and the authority of the Basic Law of the Hong Kong Special Administrative Region, or use Hong Kong for infiltration or sabotage activities against the mainland, is an act that crosses the red line and is absolutely impermissible,” he said.

But that message didn’t appear to go down well on the streets of Hong Kong. Organizers said more than 60,000 people joined Saturday’s annual march, which they said was meant to deliver a message to the Chinese president.

“He’s threatening Hong Kong’s people, saying he has the power to make us do what he wants,” said Anson Woo, a 19-year-old student. “But I still have hope. Seeing all the people around me today, the people of Hong Kong are still fighting for what we value.”

A poll by the Chinese University of Hong Kong showed people here attach even greater importance to judicial independence and freedom of the press than to economic development. Any notion that Hong Kong as a city is only about making money is clearly not accurate.

“We have to take the chance to express our views while we still can,” said Chan Sui Yan, a 15-year-old schoolgirl. “They say it is one country, two systems, but right now we are losing a lot of the rights we value.”

Some chanted slogans demanding democracy, criticizing the territory’s ruling elite or the Communist Party. many called for the release of Nobel laureate and democracy icon Liu Xiabo, imprisoned in China since 2008 and this week taken to a hospital under close guard for treatment for advanced liver cancer.

“We want to show the mainland there are other voices, outside the official voice,” said teacher Tong Siu, 53. “We want to safeguard the core values of Hong Kong.”

In his speech, China’s leader said that the concept of one country, two systems was a great success, and should be implemented “unswervingly” and not be “bent or distorted.”

While his words made it clear that sovereignty took precedence over autonomy, he said neither aspect should be neglected. “Only in this way will the ship of one country, two systems break the waves, sail steadily and last the distance,” he said.

Yet many people here say Hong Kong’s autonomy was again badly distorted in March, with Lam’s election as chief executive. Although the former bureaucrat trailed well behind rival candidate John Tsang in opinion polls, she was chosen by a panel of 1,200 members of the territory’s elite that was packed with pro-Beijing loyalists.

Although Tsang was also an establishment figure, political experts say Beijing seemed to want someone in the chief executive’s chair who would not challenge its authority.

Xi did not shy away from raising two controversial demands that have previously brought Hong Kong residents out on the streets in the hundreds of thousands.

China’s leader said the territory needed to improve its systems “to defend national security, sovereignty and development interests,” as well as “enhance education and raise public awareness of the history and culture of the Chinese nation.”

China’s demand that the territory pass a national security law caused massive street protests 14 years ago, while plans to implement a program of “patriotic education” brought more people onto the streets in 2012 and helped politicize the territory’s youths.

Both plans were subsequently shelved, but Lam has indicated she aims to put them back on the table. But she also argues the time isn’t right to satisfy a popular demand for greater democracy by allowing a future chief executive to be chosen by universal suffrage.

Marchers said moves to interfere with the education system smacked of “brainwashing.”

Martin Lee, Hong Kong’s veteran pro-democracy political leader, said China was deliberately confusing patriotism with obedience.

“When they say you must love the country, what they mean is you must obey the Communist Party,” he said. “We have no problem with the Communist Party as long as it adheres to the promises made to us.”

But Lee said China had not fulfilled its promise to grant Hong Kong greater democracy.

“They kept on postponing democracy,” he said. “That’s why young people are losing their patience.”

On Saturday morning, a small group of pro-democracy protesters said they were attacked by hired thugs when they tried to stage a demonstration, and subsequently were briefly detained and beaten by police.

Joshua Wong, who led protests against patriotic education in 2012 and in favor of democracy in 2014, was among the group and called the incident another violation of the promise to maintain Hong Kong’s values, including the right to free speech. “‘One country, two systems’ has given way to ‘one country, one-and-a-half systems,’” he told The Washington Post.

“Why would Hong Kong people want to accept patriotic education from a country that is ruled by a single party dictatorship?” he said. “This is the core question. If the government is not elected by the people, how can we have a sense of belonging?”

Luna Lin contributed to this report.

Moody’s Downgrades China Over Worries About Its Growing Debt

(THIS ARTICLE IS COURTESY OF THE NEW YORK TIMES)

SHANGHAI — Moody’s Investors Service downgraded its credit rating on China’s sovereign debt by a notch on Wednesday, saying that the steady buildup of debt in the Chinese economy would erode the country’s financial strength in the coming years.

In a bluntly worded statement, Moody’s said that the Chinese government remained committed to achieving high economic growth despite slowing productivity gains and a shrinking population of working-age adults. The only way for China to achieve that high growth is to allow its debt to continue to grow as a way to stimulate the economy, Moody’s warned.

”The downgrade reflects Moody’s expectation that China’s financial strength will erode somewhat over the coming years, with economywide debt continuing to rise as potential growth slows,” the credit rating firm said.

Moody’s moved down China’s debt rating to A1 from Aa3, but changed its outlook for further ratings adjustments to stable, from negative.

Moody’s action is still likely to anger Chinese officials, who have tried hard to persuade the Chinese public and the international financial community that they have the country’s debt troubles well in hand.

Stock markets in China and Hong Kong opened slightly lower on Wednesday on the news. The Australian dollar, which is widely considered a barometer of investor sentiment about China because Australia sells so much of its raw materials to that country, weakened against the United States dollar.

Israeli Jets Strike Inside Syria; Military Site Near Palmyra Reportedly Targeted

(THIS ARTICLE IS COURTESY OF CNN)

Israeli jets strike inside Syria; military site near Palmyra reportedly targeted

An Israeli fighter jet takes off from the Ramat David ar base, southeast of Haifa, in June.

Story highlights

  • Syria says strikes targeted military site near Palmyra
  • Israeli jets make incursions inside Syria, but IDF rarely confirms it

Jerusalem (CNN) In the most serious clash between Israeli and Syrian forces since the start of the Syrian conflict six-years ago, Israeli aircraft struck several targets in Syria overnight, the Israeli military said Friday.

Israel targeted a military site near the ancient city of Palmyra, the Syrian military said, in what would be one of its deepest airstrikes inside Syrian territory since the civil war began there.
Palmyra, once held by ISIS and retaken by the Syrian government, is strategically important to both the regime and its opponents.
Most of Israel’s reported strikes have been around the capital of Damascus, about 60 kilometers (37 miles) from the Israeli-occupied Golan Heights.
In response, Syrian forces fired anti-aircraft missiles at the Israeli jets, saying they downed one aircraft and hit another. Israeli vehemently denied the assertions, calling them “absolutely not true.”
“At no point was the safety of Israeli civilians or the IAF aircraft compromised,” a statement from the Israel Defense Forces said. The statement is unusual in that Israel rarely comments on airstrikes in Syria.
The intercept triggered alarm sirens in the Jordan Valley. Shrapnel from the explosion, which was heard as far south as Jerusalem, landed in western Jordan, the Jordanian military said.

Israel denies Syrian claim it downed Israeli plane

Israel denies Syrian claim it downed an Israeli plane
Syria’s latest claims are reminiscent of its statement in September about downing an Israeli aircraft near Quneitra, close to the Golan Heights. Israel seized parts of that region from Syria in the 1967 Six Day War.
The Israeli military said then that Syria fired two anti-aircraft missiles at its jets targeting artillery positions, but both missiles missed. They were fired long after Israeli jets left the area, the military added.

Arrow missile defense

One of the missiles overnight was intercepted by Israel’s Arrow missile defense system, marking its first operational use. Arrow, Israel’s ballistic missile defense system and the long-range version of its Iron Dome, is designed to intercept missiles outside the atmosphere.
The use came more than a year after the first successful Arrow-3 intercept test was carried out in December 2015. At that time, Israeli officials would not say when the missile would become operational.
The Israeli military would not explain why Arrow was used against an anti-aircraft missile, fueling speculation that Israel was either testing the Arrow missile or that its Iron Dome missile defense system wasn’t within range of downing the anti-aircraft missile.

Taking aim at weapons smuggling

Israel has long focused on stopping the transfer of weapons from Syria to terror groups.
In December, Israeli Defense Minister Avigdor Liberman told a delegation of European Union envoys that Israel will “prevent the smuggling of sophisticated weapons, military equipment and weapons of mass destruction from Syria to Hezbollah.”
It was another acknowledgement of Israel’s ongoing operations in Syria. Last April, Prime Minister Benjamin Netanyahu confirmed that Israel has struck Syria “dozens of times,” breaking with the policy of remaining quiet about involvement in its war-torn northern neighbor.
Netanyahu returned last week from Moscow, where he reaffirmed Israel’s military coordination with Russia in the skies over Syria. The two countries established the coordination last year to avoid conflicts in Syrian airspace, ostensibly to allow both countries to operate freely. Netanyahu also expressed his concerns about a growing Iranian presence in Syria.

Repeated incursions

Israel has attempted to stay out of Syria’s civil war but has reportedly struck the country multiple times in the past, often taking aim at weapons shipments intended for Hezbollah in Lebanon.
As recently as late February, Syrian media reported that Israeli jets hit military positions and weapons convoys near Damascus.
In November 2012, Israel fired warning shots toward Syria after a mortar shell hit an Israeli military post, the first time Israel had fired on Syria across the Golan Heights since the 1973 Yom Kippur War.
Israeli jets have been hitting targets in Syria since at least 2013, when US officials told CNN they believed IDF jets had struck nside Syrian territory.
In 2014, the Syrian government and an opposition group both said an IDF strike had hit Damascus’ suburbs and airport.

Israel wary of Russian military buildup in Syria

 Israel wary of Russian military buildup in Syria
The state-run Syrian Arab News Agency characterized those strikes as “a flagrant attack on Syria, targeting two safe areas in (the) Damascus countryside in Dimas and near Damascus International Airport.”
Israeli strikes have also gone after ISIS fighters inside Syria. Late last year, IDF troops operating in the disputed Golan region came under fire from militants of the ISIS affiliate Khalid ibn al-Walid Army, Israeli military spokesman Lt. Col. Peter Lerner said.
The soldiers fired back, triggering an exchange of gunfire. A subsequent Israeli airstrike destroyed a vehicle carrying four militants, Lerner said.

Hong Kong goes Crazy For ‘Hero’ Policeman

(THIS ARTICLE IS COURTESY OF THE BBC)

Hong Kong goes crazy for ‘hero’ policeman

  • From the section Asia
Ifzal Zaffar Image copyright HONG KONG POLICE

A 20-year-old Hong Kong policeman has swept to fame online after he talked a suicidal Pakistani man out of killing himself – in fluent Urdu.

The man had climbed a 20-metre-high (65ft) crane at a construction site, and police were called to the scene.

Ifzal Zaffar, who is of Pakistani descent, duly climbed up too and addressed him in their shared language.

The man agreed to come down, and was taken to hospital.

Constable Zaffer, who also speaks fluent Cantonese, said he was simply following his training.

“I used the techniques we learned at the academy … I think he felt safer knowing that I could talk to him in his own language,” he told Apple Daily.

The young man joined the force just under a year ago, and is said to be the only officer of Pakistani origin in the district.

He arrived via a Hong Kong police scheme to recruit non-Chinese officers, called Operation Gemstone.

Constable Zaffer’s handling of the delicate situation won him praise from superiors – and a social media fan club.

“He is very handsome yet having a golden heart,” gushed Facebook user Nuna Priya.

“Mr IFZAL ZAFFAR, many citizen support you, please keep on serving the society. Thanks!!!” wrote Baba Bebe Wong.

As netizens commended his integrity and professionalism, the Muslim Council of Hong Kong also joined the chorus of support.

“Bravo to this young man and thank you to the HK police force for bringing him in,” it said.

“Hope more such stories can be seen to show HK is indeed a multi-cultural city.”

China’s Premier Says Hong Kong Will Never Be Allowed Independence

(THIS ARTICLE IS COURTESY OF CNN)

Hong Kong (CNN) China’s second highest-ranking politician criticized calls for Hong Kong independence in a speech to the nation’s parliament Sunday.

Speaking at the opening of the annual National People’s Congress, Premier Li Keqiang said calls from within the city to go it alone would “lead nowhere.”
This was the first time “Hong Kong independence” has ever been mentioned in any Chinese premier’s annual address.
“We will continue to implement, both to the letter and in spirit, the principle of ‘One Country, Two Systems’,” Li said, referring to the doctrine by which Hong Kong maintained certain freedoms and rights after it passed from British rule to Chinese in 1997.
“We pledge our full support to the chief executives and governments of (Hong Kong and Macau) in exercising law-based governance, growing their economies, improving people’s well-being, advancing democracy and promoting social harmony,” Li said.
Macau, a small island near Hong Kong, is also a special administered region of China.
He also had strong words for those who might seek independence for Taiwan. Officially the Republic of China, Taiwan has been self-governing since 1949, but Beijing claims it as an inalienable part of its territory.
“(China) will resolutely oppose and contain separatist activities for Taiwan independence,” Li said. “We will never tolerate any activity, in any form or name, which attempts to separate Taiwan from the motherland.”
Growing trend?
Within Hong Kong, calls for independence from China have been growing since the 2014 Umbrella Movement protests ended in no reforms to the existing political system.
For 79 days, thousands of protesters occupied Hong Kong’s financial district and elsewhere to demand true universal suffrage — one person, one vote, without the interference of Beijing.
The crowd was eventually dispersed by police, and organizers vowed to push for change by other means.
Hong Kong voters elect pro-democracy activists
In parliamentary elections last year, several pro-independence candidates were blocked from standing, but there was nevertheless a pronounced swing towards so-called localist parties, which support anything from greater autonomy to full self-rule.
Two pro-independence lawmakers who were elected never managed to take their seats however, having been ejected by the courts for failing to take their oaths of office properly after they staged a curse word-filled protest during the swearing-in process.
The intervention by Beijing into that case sparked more concerns by many Hong Kongers that the city’s autonomy — as guaranteed by “One Country, Two Systems” — is being eroded.

Fears

Anti-American views clear in new China propaganda

Beijing has always reacted angrily towards any promotion of independence for its special administered regions of Hong Kong and Macau, or suggestions from self-ruled Taiwan that the island should seek full legal independence.
A bizarre propaganda video posted online by the Chinese Supreme People’s Procuratorate, the country’s top prosecutor’s office, in August contrasted apocalyptic images of Syria and Iraq with bucolic views of China today.
“The haze of ‘domestic and international concerns’ has not dispersed from the Chinese sky,” the video said.
“Tibet, Xinjiang, Hong Kong and Taiwan separatism, as well as dissident leaders, lawyers who would fight until death and other agents of Western forces are damaging China’s internal stability and harmony. Behind all these incidents, we can often catch a glimpse of the dark shadow of the Stars and Stripes.”
Speaking to the South China Morning Post Sunday, political advisory body delegate Tam Yiu-chung said the mention of Hong Kong independence by Li shows that “Beijing is very concerned about the problem.”
“The central government would not tolerate it … it’s a very serious problem,” Tam said.
Some commentators have predicted that Hong Kong’s next leader, who will be chosen by a Beijing-dominated “election committee” later this month, will be told to crack down harder on pro-independence sentiment.
“(They) might be asked by Beijing to enact Article 23,” Chinese University of Hong Kong professor Willy Lam told CNN last year, referring to a hugely controversial anti-subversion law that led to mass street protests in 2003 and the eventual resignation of then Hong Kong Chief Executive Tung Chee-hwa.

Mainland China To Hong Kong Trade Drops 7.1% In First 11 Months Of 216

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

Mainland-HK trade drops 7.1% in first 11 months

THE Chinese mainland’s trade with Hong Kong totaled US$274 billion in the first 11 months of 2016, down 7.1 percent year on year, according to the Ministry of Commerce.

The value accounted for 8.3 percent of the mainland’s total overseas trade in the January-November period.

Mainland exports to Hong Kong hit US$258 billion, a decrease of 9.3 percent year on year, while the mainland’s imports from the region saw an increase of 51.9 percent to US$16.1 billion.

Hong Kong is the mainland’s fourth-largest trading partner and third-largest export market, according to the ministry.

The mainland approved 11,309 Hong Kong-invested projects from January to November, with the actual use of Hong Kong capital reaching US$72.8 billion, down 6.8 percent from the same period of last year.

By the end of November, the mainland had approved 397,522 Hong Kong-invested projects, with the actual use of Hong Kong capital reaching US$906 billion, accounting for 51.6 percent of the mainland’s actual use of overseas capital.

China: President Jinping Says Stability Is Needed To Help Global Markets As China Beats Their War Drums

 

 

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

Stability needed next year for stronger global economy

FOR China and the world to witness stronger economic growth next year, one thing is needed: stability.

For an international market trapped in fluctuations during a year of surprising events, a new direction in 2017 is a must, something discussed at a recently ended annual economic policy meeting in Beijing.

“Seeking progress while maintaining stability” was the main theme of this year’s Central Economic Work Conference, according to a statement released by the conference on Friday. Economic priorities for 2017 were also be hammered out.

With a gross domestic product (GDP) accounting for over 15 percent of the global total, China’s growth at 6.7 percent in the third quarter, or between 6.5 percent and 7 percent annually, represents a natural and significant contribution to global economic stability.

That is true more than ever since the International Monetary Fund in October revised down global growth to 3.1 percent for 2016 and 3.4 percent for 2017.

Moreover, the spillover of China’s new economic policies will be strongly felt in the ongoing joint construction of the China-proposed Belt and Road Initiative, which will see development of countries along its route.

STABILITY WITH CONTINUED SUPPLY-SIDE STRUCTURAL REFORM

In combination with the growth trend in the second half of 2016, the important messages Chinese policymakers convey at the key annual economic conference will highlight a clear reform course for the world’s second largest economy.

Stability is a prerequisite for reforms, commented Margit Molnar, head of the China Desk of the Economics Department of the Organization for Economic Cooperation and Development.

Having dealt with such flashpoints like the asset bubble and local government debt, China will help prevent systematic risks, creating conditions for continuing the supply-side structural reform, he told Xinhua.

The economic work conference has maintained supply-side structural reform as necessary for stable growth, with a continued focus on upgrading the country’s economic structure.

Reforms which focus on expanding effective supply in a dynamic supply-demand equilibrium, will promote stability, said Zhao Yao, professor with the business school of Rutgers University in the United States.

LONG-TERM MOVES TO COOL DOWN REAL ESTATE

Homes are for living in rather than speculation, the conference stressed, proposing to use financial, land, taxation, investment and other instruments to establish a fundamental and long-term system to curb real estate bubbles and market volatilities.

Guo Shengxiang, dean of the Australian think tank Academy of APEC Creative Finance, described the idea as “forward-looking”.

“It will be a good news, to stabilize the market, improve people’s well-being and facilitate the development of the real economy,” he said.

The Hong Kong and Shanghai Banking Corp. (HKSB) believes measures to cool down real estate will not thwart China’s economic recovery.

Without a complete tightening of monetary policy, the impact of government regulations could be neutralized by infrastructure investment with financial support, it said.

PRUDENT AND NEUTRAL MONETARY POLICY AGAINST RISKS

The conference defines China’s monetary policies for 2017 as “prudent and neutral”, promising better adjustments to ensure stable liquidity.

Monetary policymaking should adapt to changes in the use of money supply tools, and further efforts are needed for smoother policy transmission, it said.

China will keep the yuan basically stable, while improving the flexibility of exchange rates.

“The stance shows the government is trying to find a subtle balance between stabilizing growth and controlling asset bubbles,” noted Hong Hao, chief China strategist at BOCOM International.

Earlier, a Standard Chartered Bank report predicted financial and monetary policy instruments available to the Chinese government would suffice to support China’s growth in the coming years.

China: Says Stability Is Needed For Stronger Global Economy As They Beat The War Drums In The South China Sea

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

Stability needed next year for stronger global economy

FOR China and the world to witness stronger economic growth next year, one thing is needed: stability.

For an international market trapped in fluctuations during a year of surprising events, a new direction in 2017 is a must, something discussed at a recently ended annual economic policy meeting in Beijing.

“Seeking progress while maintaining stability” was the main theme of this year’s Central Economic Work Conference, according to a statement released by the conference on Friday. Economic priorities for 2017 were also be hammered out.

With a gross domestic product (GDP) accounting for over 15 percent of the global total, China’s growth at 6.7 percent in the third quarter, or between 6.5 percent and 7 percent annually, represents a natural and significant contribution to global economic stability.

That is true more than ever since the International Monetary Fund in October revised down global growth to 3.1 percent for 2016 and 3.4 percent for 2017.

Moreover, the spillover of China’s new economic policies will be strongly felt in the ongoing joint construction of the China-proposed Belt and Road Initiative, which will see development of countries along its route.

STABILITY WITH CONTINUED SUPPLY-SIDE STRUCTURAL REFORM

In combination with the growth trend in the second half of 2016, the important messages Chinese policymakers convey at the key annual economic conference will highlight a clear reform course for the world’s second largest economy.

Stability is a prerequisite for reforms, commented Margit Molnar, head of the China Desk of the Economics Department of the Organization for Economic Cooperation and Development.

Having dealt with such flashpoints like the asset bubble and local government debt, China will help prevent systematic risks, creating conditions for continuing the supply-side structural reform, he told Xinhua.

The economic work conference has maintained supply-side structural reform as necessary for stable growth, with a continued focus on upgrading the country’s economic structure.

Reforms which focus on expanding effective supply in a dynamic supply-demand equilibrium, will promote stability, said Zhao Yao, professor with the business school of Rutgers University in the United States.

LONG-TERM MOVES TO COOL DOWN REAL ESTATE

Homes are for living in rather than speculation, the conference stressed, proposing to use financial, land, taxation, investment and other instruments to establish a fundamental and long-term system to curb real estate bubbles and market volatilities.

Guo Shengxiang, dean of the Australian think tank Academy of APEC Creative Finance, described the idea as “forward-looking”.

“It will be a good news, to stabilize the market, improve people’s well-being and facilitate the development of the real economy,” he said.

The Hong Kong and Shanghai Banking Corp. (HKSB) believes measures to cool down real estate will not thwart China’s economic recovery.

Without a complete tightening of monetary policy, the impact of government regulations could be neutralized by infrastructure investment with financail support, it said.

PRUDENT AND NEUTRAL MONETARY POLICY AGAINST RISKS

The conference defines China’s monetary policies for 2017 as “prudent and neutral”, promising better adjustments to ensure stable liquidity.

Monetary policymaking should adapt to changes in the use of money supply tools, and further efforts are needed for smoother policy transmission, it said.

China will keep the yuan basically stable, while improving the flexibility of exchange rates.

“The stance shows the government is trying to find a subtle balance between stabilizing growth and controlling asset bubbles,” noted Hong Hao, chief China strategist at BOCOM International.

Earlier, a Standard Chartered Bank report predicted financial and monetary policy instruments available to the Chinese government would suffice to support China’s growth in the coming years.

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