China Economy Forum

[applesauce]

Not sure why coca cola is not banned. You can remove rust on chrome with Coca-Cola. How can that be safe for humans?

chromium does not rust, so not sure what you are talking about. now cola is not exactly good for you as everyone know, but in limited amount it doesn't harm you, it is acidic which is why people can rubberize bones and use it to clean but then vinegar is more acidic and people use that in food.

 

[TaiShang]

Students from vocational schools also make big bucks
(People's Daily Online) May 19, 2015

With the issue of China's National Plan for Medium and Long-Term Education Reform and Development in 2010, vocational education in China has made great progress in various fields and entered the golden development stage. In the past 5 years, over 50 million students with professional knowledge and skills had been well trained. A total of 13,300 vocational schools offer nearly 1,000 majors, training talents needed in almost all the fields in national economy. In June 2014, the State Council convened a national vocational education conference, proposing the goal of forming a comprehensive system of vocational education with both Chinese features and world standards. In recent years, the employment rate for graduates of vocational schools has reached 90 percent. And some students from vocational schools even earn more than college graduates.


Wen Mao, a chef at a restaurant in Changsha, Feb. 18, 2015. (Xinhuanet/Li Ga)

31-year-old Wen Mao became a chef after he graduated from a culinary school in 2004. Now he has a stable monthly income of 6,000 yuan.


Wen Mao cooks Spring Festival meal at the restaurant, Feb. 18, 2015. (Xinhuanet/Li Ga)


Gong Jingbo is in front of machine tools on May 14, 2015. (Xinhuanet/Li Ga)

27-year-old Gong Jingbo graduated from Hunan Industry Polytechnic in 2010 and became a milling machine operator of a plant. Two years later he got promoted to senior technician with a monthly income over 6,000 yuan.



Gong controls the machine tools in a plant on May 14, 2015. (Xinhuanet/Li Ga)


Jiang Tongwan at his own shop, March 27, 2015. (Xinhuanet/Li Ga)

26-year-old Jiang Tongwan graduated from Hunan Arts and Crafts Vocational College in 2014. His major was Hunan embroidery. After graduation, he started his own business — a Hunan embroidery shop. Now Jiang’s best piece can sell for 20,000 yuan. He hopes more talented people can join their shop and inherit this art.

Jiang Tongwan does embroidery at his own shop, March 27, 2015. (Xinhuanet/Li Ga)

 

[Jlaw]

chromium does not rust, so not sure what you are talking about. now cola is not exactly good for you as everyone know, but in limited amount it doesn't harm you, it is acidic which is why people can rubberize bones and use it to clean but then vinegar is more acidic and people use that in food.

chrome man. You never seen rust on chrome rims?

Plus try putting a penny in coke and leave it in there for one day. See what happens to the penny.

Students from vocational schools also make big bucks
(People's Daily Online) May 19, 2015

With the issue of China's National Plan for Medium and Long-Term Education Reform and Development in 2010, vocational education in China has made great progress in various fields and entered the golden development stage. In the past 5 years, over 50 million students with professional knowledge and skills had been well trained. A total of 13,300 vocational schools offer nearly 1,000 majors, training talents needed in almost all the fields in national economy. In June 2014, the State Council convened a national vocational education conference, proposing the goal of forming a comprehensive system of vocational education with both Chinese features and world standards. In recent years, the employment rate for graduates of vocational schools has reached 90 percent. And some students from vocational schools even earn more than college graduates.


Wen Mao, a chef at a restaurant in Changsha, Feb. 18, 2015. (Xinhuanet/Li Ga)

31-year-old Wen Mao became a chef after he graduated from a culinary school in 2004. Now he has a stable monthly income of 6,000 yuan.


Wen Mao cooks Spring Festival meal at the restaurant, Feb. 18, 2015. (Xinhuanet/Li Ga)


Gong Jingbo is in front of machine tools on May 14, 2015. (Xinhuanet/Li Ga)

27-year-old Gong Jingbo graduated from Hunan Industry Polytechnic in 2010 and became a milling machine operator of a plant. Two years later he got promoted to senior technician with a monthly income over 6,000 yuan.



Gong controls the machine tools in a plant on May 14, 2015. (Xinhuanet/Li Ga)


Jiang Tongwan at his own shop, March 27, 2015. (Xinhuanet/Li Ga)

26-year-old Jiang Tongwan graduated from Hunan Arts and Crafts Vocational College in 2014. His major was Hunan embroidery. After graduation, he started his own business — a Hunan embroidery shop. Now Jiang’s best piece can sell for 20,000 yuan. He hopes more talented people can join their shop and inherit this art.

Jiang Tongwan does embroidery at his own shop, March 27, 2015. (Xinhuanet/Li Ga)

I think more Chinese start to realize the market for high paying jobs is not just restricted to Phds and MBAs. IT's all about supply and demand. In Canada, trade workers on average make more than office workers.

Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes

By Billy Chan 3 hours ago

• 
• 
• 
• 

• The decline of Hanergy Thin Film Solar Group Ltd. was as spectacular and inexplicable as its ascent.
  
  
  Just 24 minutes of Hong Kong trading erased $18.6 billion of market value and wiped out almost four months of gains that made it more valuable than Sony Corp. of Japan. Those increases came as analysts and investors questioned why, exactly, this stock was increasing in the first place.
  
  The maker of solar equipment controlled by Li Hejun suspended trading after the stock plummeted 47 percent in the morning. Discussion of what triggered the move emerged after trading halted.
  
  Hong Kong’s Securities and Futures Commission has been probing market manipulation in Hanergy’s shares for several weeks, Reuters reported late Wednesday citing an unidentified person. Ernest Kong, a spokesman for Hong Kong’s Securities and Futures Commission, declined to comment to Bloomberg.
  
  More from Bloomberg.com: Ruble Drop Not Deterring Russia Bond Bulls as Auction Sells Out
  
  Chairman Li, who is also the biggest shareholder, didn’t attend an annual meeting in Hong Kong on Wednesday, T.L. Chow, the company’s external spokesman, said by phone.
  
  “All directors of listed companies take part in setting the dates of their shareholder meetings, and they should attend,” said David Webb, shareholder activist and founder of Webb-site.com. “If a chairman of a mainland company did not show up in Hong Kong for the AGM, then it raises questions.”
  
  The stock fell to HK$3.91 before the suspension at 10:40 a.m., shaving HK$144.3 billion ($18.6 billion) off its market value.
  
  Peak Value
  Before today’s decline, the stock had surged more than sixfold in the past year despite questions from analysts and investors about the company’s revenue sources. About 61 percent of Hanergy Thin Film’s sales come from Beijing-based parent Hanergy Holding Group, the listed company said in March.
  
  More from Bloomberg.com: U.S. Stocks Fluctuate Near Records Before Fed Meeting Minutes
  
  The company’s first statement Wednesday didn’t give a reason for the suspension. A subsequent statement from Hanergy Thin Film said the stock has been suspended pending “an announcement containing inside information.”
  
  Hanergy uses a niche technology in the photovoltaic industry, where more than three-quarters of all panels are based on solar-grade silicon. Thin film cells are more flexible but less efficient than crystalline silicon-based panels.
  
  More from Bloomberg.com: Car Owners Overwhelm NHTSA Website in Search of Air-Bag Recalls
  
  Prior to Wednesday’s plunge, Hanergy Thin Film’s market value had at one point risen to more than HK$300 billion. That’s larger than Sony and almost seven times the size of First Solar Inc., the biggest U.S. solar company.
  
  Questions Asked
  The run-up in the shares hasn’t been without questions.
  
  “It’s an adjustment that the market has been waiting to happen, as Hanergy’s earnings and business performance didn’t support such a high stock price or valuation,” said Gong Siwen, Shanghai-based analyst at Northeast Securities Co.
  
  The Chinese solar company was the subject in January of an investigation by the Financial Times newspaper, which questioned its “unconventional” accounting practices.
  
  A Feb. 27 report from analysts Charles Yonts and Johnny Lau at CLSA Asia-Pacific Markets in Hong Kong raised more skepticism, saying the stock was wildly inflated.
  
  The stock “is a disaster waiting to happen,” Geo Securities Chief Executive Officer Francis Lun said Wednesday by phone.
  
  Bloomberg New Energy Finance released a report in March saying Hanergy is working with “unproven” technology and has disclosed few details about the work that underpins its valuation.
  
  Concerns Detailed
  In a six-page examination of the Hong Kong manufacturer’s operations, the London-based researcher said it’s been unable to find a detailed list of solar-power projects that would help explain why the company’s shares surged in the past year.
  
  Hanergy Thin Film, which isn’t included in Hong Kong’s benchmark Hang Seng Index, is covered by only two analysts, according to data compiled by Bloomberg.
  
  Outside solar, Hanergy has more than 6 gigawatts of hydropower projects and 131 megawatts of wind power, according to the company’s website.
  
  Li, the chairman, owns more than half of Hanergy Thin Film and has been outspoken in defending the company. He says critics fail to understand his strategy and the potential of the thin-film market.
  
  “Hanergy is very cautious in thin-film investment,” Li said earlier this year during a brief interview in Beijing. “Outsiders said Hanergy’s investment is a bet, but I am absolutely not gambling.”
  
  First Solar, based in Tempe, Arizona, and Japan’s Solar Frontier K.K. are the other main companies working in thin film. Hanergy supplies equipment to make solar panels. First Solar is focused on developing utility-scale projects using panels that it makes. The two companies use a different manufacturing process that requires different raw materials

Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes - Yahoo Finance


-----------------------------------

anyone have update to this story? What exactly happen?

 

[TaiShang]

Talented recruits snapped up in first quarter
China Daily, May 21, 2015

Talented recruits were in high demand on the Chinese mainland in the first quarter, especially in the State-owned enterprises sector, according to an employment survey.

Only 8.2 percent of 589 corporations that took part in the survey said they had not increased their head count.

The RMG Recruitment Insider Survey is a nationwide quarterly review of hiring carried out by RMG Selection, a China-focused international recruitment and human resources consultancy.

A total of 99.1 percent of State-owned enterprises hired new talent in the first three months of this year. Joint ventures had the lowest hiring rate, but 81.8 percent of them had new vacancies.

Sophie Li, marketing and operations director at RMG Selection, said, "Job-market activity can be measured by two factors - the job-hopping rate and the recruitment rate.

"We can see from the first-quarter survey that 91.8 percent of companies introduced new talent, and this demand continues.

"Part of this activity can be attributed to the boom in starting innovative businesses," Li said. "Encouraged by policies and the market, many company executives have started their own businesses, providing more opportunities for job seekers."

Despite SOEs being affected by the nationwide campaign against corruption, strong recruitment demand remains.

The survey also found there was high demand for talent in first-, second- and third-tier cities, with 91.5, 92.4 and 91.9 percent of companies hiring.

Moreover, 14.6 percent of employers in first-tier cities would like to offer 20,000 yuan ($3,220) to 30,000 yuan a month for new employees, compared to 3.8 percent of those in second-tier cities, according to the report.

Zhu Hongyan, chief careers consultant at the human resources website Zhaopin, said it used to be difficult, for example, for graduates at Tsinghua University to find jobs in third-tier cities that would use their potential. "Now the case is totally different."

But Zhu said there have been cases of talented professionals moving to smaller cities and then returning to Beijing or Shanghai.

"Retaining talent is more important than simply attracting talent. High salaries are just a starting point.

"Smaller cities and local industry should learn from Beijing, Shanghai and Guangzhou, which have professional working environments and better promotion mechanisms."

 

[bobsm]

China’s GDP per capita to exceed $12,000 by 2020: report
2015-05-19 09:03
Ecns.cnEditor: Mo Hong'e

(ECNS) -- The Chinese GDP per capita will reach $12,803 by 2020 from nearly $7575 in 2014, China Business News reported, citing economic research.

In 2020, China's GDP will reach the world's average income level and be at the threshold of a high income society, according to a report titled "2049 Strategy from the China Academy of New Supply-site Economics" released on May 17.

China is likely to have a nominal GDP of $29.1 trillion, overtaking America ($28.4 trillion) as the world's biggest economy. By 2049, the country's GDP will reach $155.5 trillion, and comprise 29.4 percent of the world's total GDP.

However, exceeding the level of $12,000 per capita does not mean China is safely out of the "Middle Income Trap" (MIT). It remains to be seen whether it can stably advance between 2020 and 2030, warns Huang Jianhui, a financial expert.

According to the World Bank, the MIT hurts middle-income economic competitiveness both in terms of labor pricing and in access to advanced technologies. MIT incomes typically range between $1,000 and $12,000. In 2014, China was within the MIT range with a GDP per capita of $7,575.

Overcoming the MIT is a small probability event, according to Wang Qing, an investment expert. Based on global changes from 1960 to 2008, the majority of economies in the MIT fell back to low incomes while only a small fraction eventually went on to become high income nations.

 

[Bussard Ramjet]

Talented recruits snapped up in first quarter
China Daily, May 21, 2015

Talented recruits were in high demand on the Chinese mainland in the first quarter, especially in the State-owned enterprises sector, according to an employment survey.

Only 8.2 percent of 589 corporations that took part in the survey said they had not increased their head count.

The RMG Recruitment Insider Survey is a nationwide quarterly review of hiring carried out by RMG Selection, a China-focused international recruitment and human resources consultancy.

A total of 99.1 percent of State-owned enterprises hired new talent in the first three months of this year. Joint ventures had the lowest hiring rate, but 81.8 percent of them had new vacancies.

Sophie Li, marketing and operations director at RMG Selection, said, "Job-market activity can be measured by two factors - the job-hopping rate and the recruitment rate.

"We can see from the first-quarter survey that 91.8 percent of companies introduced new talent, and this demand continues.

"Part of this activity can be attributed to the boom in starting innovative businesses," Li said. "Encouraged by policies and the market, many company executives have started their own businesses, providing more opportunities for job seekers."

Despite SOEs being affected by the nationwide campaign against corruption, strong recruitment demand remains.

The survey also found there was high demand for talent in first-, second- and third-tier cities, with 91.5, 92.4 and 91.9 percent of companies hiring.

Moreover, 14.6 percent of employers in first-tier cities would like to offer 20,000 yuan ($3,220) to 30,000 yuan a month for new employees, compared to 3.8 percent of those in second-tier cities, according to the report.

Zhu Hongyan, chief careers consultant at the human resources website Zhaopin, said it used to be difficult, for example, for graduates at Tsinghua University to find jobs in third-tier cities that would use their potential. "Now the case is totally different."

But Zhu said there have been cases of talented professionals moving to smaller cities and then returning to Beijing or Shanghai.

"Retaining talent is more important than simply attracting talent. High salaries are just a starting point.

"Smaller cities and local industry should learn from Beijing, Shanghai and Guangzhou, which have professional working environments and better promotion mechanisms."

That is why I say, China is not short at jobs, it is short at people with the right skills.

 

[TaiShang]

Three Gorges eyes overseas M&A deals
China Daily, May 21, 2015

The builder and operator of the world's largest dam, China Three Gorges Corp, will seek merger and acquisition opportunities globally to bolster its presence overseas.

"We are looking for possible acquisitions in markets such as Latin America and Europe, since our last purchase involving a Portuguese utility company has performed well," Executive Vice-President Lin Chuxue told China Daily on the sidelines of the 2015 World Hydropower Congress, a three-day event held by the International Hydropower Association in Beijing.

In 2011, CTG took a 21.35 percent stake in Energias de Portugal SA for 2.69 billion euros ($2.99 billion) and became its single largest shareholder. It was the first acquisition of this type for the Chinese company.

The total installed capacity of the projects involving overseas investment by CTG is about 6,000 megawatts, but the company plans to raise that figure to 25,000 mW over the next several years. That figure is approximately equal to the full capacity of the Three Gorges Dam project, which spans the Yangtze River in Hubei province.

As of the end of 2014, the company had invested in and signed contracts to build 81 overseas projects.

CTG President Wang Lin said that the company's strength lies in its rich domestic experience. By 2020, he said, five of the 10 largest hydropower stations in the world would have been built, operated and owned by CTG. The company hopes to leverage this experience to boost exports.

"From exploration and design to technology, equipment manufacturing and funding, we have advantages across the whole industrial chain, which gives us a competitive edge in winning bids in the international market," Lin said.

The government's "Belt and Road Initiative" offers more opportunities to the Chinese hydropower company, which aims to expand in regions such as Southeast Asia, Africa, Europe and Latin America.

The initiative refers to President Xi Jinping's proposal to build the Silk Road Economic Belt on the Eurasian continents and the 21st Century Maritime Silk Road.

The company is giving priority to Pakistan and Brazil in its overseas investment portfolio, and it is pursuing multiple hydropower projects in the two countries, Lin said.

In Pakistan, hydropower accounts for 30 percent of the energy mix, with oil and natural gas making up the remainder. However, with a shortage of domestic oil resources, demand for hydropower is soaring.

CTG has drawn up a $15 billion plan to build hydropower projects as well as wind and solar facilities, which will ease energy shortages in Pakistan that have constrained economic growth.

The company plans to build hydropower and wind projects in Brazil with total installed capacity of 3,000 mW.

'Golden era' for hydropower projects

The hydropower sector in China is enjoying a "golden age" with the nation's plans for capacity expansion this year and to cut carbon emissions, industry officials said on Wednesday.

China has set a target of having non-fossil fuels make up 15 percent of its total energy use by 2020. To achieve this goal, the country will need to rely on hydropower, Zhang Jun, deputy general manager of the northwest branch of China Power Investment Corp, said on Wednesday during the 2015 World Hydropower Congress in Beijing.

CPIC is a State-owned power generation enterprise.

"We are in a golden age for the development of hydropower, because it has many advantages over other energy sources," he said. "The benchmark price for hydropower is very low and unlike solar and wind power, hydropower is a very stable source."

The nation's installed hydropower capacity was 300 gigawatts in 2014, or 67 percent of the total renewable generation capacity. China aims to have 420 gW of hydropower capacity by 2020, up from an earlier target of 380 gW, according to the National Energy Administration.

Several new hydropower projects, including dams on the Jinsha River, as the northern section of the Yangtze River in Yunnan province is known, are expected to start construction this year, said Zhang Boting, deputy secretary-general of the China Hydropower Engineering Society.

But he warned there could be a surplus of hydropower capacity in the southwestern regions such as Yunnan and Sichuan provinces due to poor grid access.

He also said that the industry is being held back by issues like environmental protection and resettlement of local residents, which raise costs.

 

[Raphael]

China-backed AIIB sets target to be operational by year-end| Reuters

China-backed AIIB sets target to be operational by year-end
China-backed Asia Infrastructure Investment Bank (AIIB) on Friday set an ambitious target to become operational by the end of the year after a three-day meeting of prospective founding member nations in Singapore.

AIIB said in a statement that the meeting finalised the articles of agreement, which are expected to be ready for signing by the end of June, but did not give details. (bit.ly/1FrydwQ)

Delegates told Reuters that China would likely take a 25-30 percent stake in the bank, and India was likely to be the second-largest shareholder.

China's share in the $100 billion lender would be less than 30 percent, an Asian delegate told Reuters. A second delegate said India's share would be between 10 and 15 percent. Both spoke on condition of anonymity.

In all, Asian countries are expected to own between 72 and 75 percent of the bank, while European and other nations will own the rest.

A third delegate said each country representative would take the proposals back to their governments for a final decision.

Some were skeptical of the timeline for the bank to start running, as each member will need to obtain cabinet and legislature approvals at home.

"It is uncertain if we can start from early next year," said a delegate, who declined to be named as he was not authorized to speak to the media.

"China hopes that members will get such approvals by year-end and the operations start from the next year. But I wonder if it is possible, given domestic political situations in each country."

A total of 57 countries have joined AIIB as its prospective founding members, throwing together countries as diverse as Iran, Israel, Britain and Laos.

The United States and Japan have stayed out of the institution, seen as a rival to the U.S.-dominated World Bank and Japan-led Asian Development Bank, citing concerns about transparency and governance, although Tokyo for one is keeping its options open.

AIIB's launch is coming at a time when the space for infrastructure lending is already crowded due to the presence of major multilateral lenders and Japan's latest move to provide $110 billion for Asian infrastructure projects.

The amount of Japanese funds, to be invested over five years, tops the expected $100 billion capitalization of the AIIB.

 

[ahojunk]

China sets up largest gold fund
2015-05-24 09:08 | Xinhua Editor: Qian Ruisha

A gold sector fund involving countries along the ancient Silk Road has been set up in northwest China's Xi'an City during an ongoing forum on investment and trade this weekend.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan (16.1 billion U.S. Dollars) in three phases.

China is the world's largest gold producer, and also a major importer and consumer of gold. Among the 65 countries along the routes of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, there are numerous Asian countries identified as important reserve bases and consumers of gold.

About 60 countries have invested in the fund, which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal, according to the SGE.

"China does not have a big say in gold pricing because it accounts for a small share of international gold trade," said Tang Xisheng of the Industrial Fund Management Co. "Therefore, the Chinese government seeks to increase the influence of RMB in gold pricing by opening the domestic gold market to international investors."

According to Tang, the fund will invest in gold mining in countries along the Silk Road, which will increase exploration in countries such as Afghanistan and Kazakhstan.

 

[ahojunk]

Wow! If this is true, then China is much closer to becoming the top dog much sooner than we think.

-------------
Why China’s actual GDP may be higher than you think
May 22, 2015

We all “know” China’s gross domestic product [growth rate] is declining, but what if it wasn’t? Chiecon, as independent project translating trends in China’s real economy, suggests that much like shadow banking, there is a shadow economy.

It wouldn’t be the first time someone suggested this. But Chiecon thinks it has proof in the form of Professor Li Yining’s article entitled “Six cutting edge issues in the current economy.”

Most of Li’s arguments are based on the under reporting of streams of income to avoid some form of taxes. And while some forms of tax evasion are unique to China, a few of these are pretty common in the U.S. Here are the top four issues:

1. Li, a famous Chinese economist, argues: “In developed Western countries, homes built by rural residents are included in GDP calculations, whereas in China, homes built” by individuals and their friends and relatives are not in the calculation. The number of houses is increasing with the number of new villages, creating a disconnect in the calculation.

2. Many of China’s tens of millions of domestic workers are not being accounted for in the GDP calculations. By not declaring their pay, the bosses don’t need to pay taxes on it. Sounds like the Upper East Side of New York to me.

3. Li also says large numbers of companies run by self-employed individuals are understating their incomes on tax returns, resulting in a lower calculation of GDP. Small and micro businesses are allowed a monthly turnover not exceeding 30,000 yuan before paying taxes. So you can be sure, many are just hitting that mark. This sounds like a lot of the restaurants and bars I’ve worked at.

4. Then to stretch out the last point. Private businesses make up 55% of GDP, while state-run enterprises make up no more than 35%. So, while many pundits say the SOEs are overstating their profits, Li says the understating of profits by the private enterprises is much greater than that because of their greater share of the economy. Hence, an under reported GDP.

 

[empirefighter]

Wow! If this is true, then China is much closer to becoming the top dog much sooner than we think.

-------------
Why China’s actual GDP may be higher than you think
May 22, 2015

We all “know” China’s gross domestic product [growth rate] is declining, but what if it wasn’t? Chiecon, as independent project translating trends in China’s real economy, suggests that much like shadow banking, there is a shadow economy.

It wouldn’t be the first time someone suggested this. But Chiecon thinks it has proof in the form of Professor Li Yining’s article entitled “Six cutting edge issues in the current economy.”

Most of Li’s arguments are based on the under reporting of streams of income to avoid some form of taxes. And while some forms of tax evasion are unique to China, a few of these are pretty common in the U.S. Here are the top four issues:

1. Li, a famous Chinese economist, argues: “In developed Western countries, homes built by rural residents are included in GDP calculations, whereas in China, homes built” by individuals and their friends and relatives are not in the calculation. The number of houses is increasing with the number of new villages, creating a disconnect in the calculation.

2. Many of China’s tens of millions of domestic workers are not being accounted for in the GDP calculations. By not declaring their pay, the bosses don’t need to pay taxes on it. Sounds like the Upper East Side of New York to me.

3. Li also says large numbers of companies run by self-employed individuals are understating their incomes on tax returns, resulting in a lower calculation of GDP. Small and micro businesses are allowed a monthly turnover not exceeding 30,000 yuan before paying taxes. So you can be sure, many are just hitting that mark. This sounds like a lot of the restaurants and bars I’ve worked at.

4. Then to stretch out the last point. Private businesses make up 55% of GDP, while state-run enterprises make up no more than 35%. So, while many pundits say the SOEs are overstating their profits, Li says the understating of profits by the private enterprises is much greater than that because of their greater share of the economy. Hence, an under reported GDP.

If anyone spend some time to compare the calculation method of GDP between China And USA, he can easily find out China's GDP is under calculated . It is not a secret, but everyone love it. USA can keep their position for a longer time, China can pretend to be a poorer country and keep a lower currency to compete, after all, we Chinese are not high profile race and still have a long way to go.

 

[TaiShang]

China sets up largest gold fund
2015-05-24 09:08 | Xinhua Editor: Qian Ruisha

A gold sector fund involving countries along the ancient Silk Road has been set up in northwest China's Xi'an City during an ongoing forum on investment and trade this weekend.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan (16.1 billion U.S. Dollars) in three phases.

China is the world's largest gold producer, and also a major importer and consumer of gold. Among the 65 countries along the routes of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, there are numerous Asian countries identified as important reserve bases and consumers of gold.

About 60 countries have invested in the fund, which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal, according to the SGE.

"China does not have a big say in gold pricing because it accounts for a small share of international gold trade," said Tang Xisheng of the Industrial Fund Management Co. "Therefore, the Chinese government seeks to increase the influence of RMB in gold pricing by opening the domestic gold market to international investors."

According to Tang, the fund will invest in gold mining in countries along the Silk Road, which will increase exploration in countries such as Afghanistan and Kazakhstan.

China appears to be taking another step towards a gold backed RMB.

 

[bobsm]

Chinese R&D team rolls out bio-engineered cornea

English.news.cn 2015-05-23 15:57:42

BEIJING, May 23 (Xinhua) -- A Chinese team unveiled a new product of bio-engineered cornea on Saturday, which is expected to help millions of people suffering from corneal blindness to see again.

The Acornea, an acellular corneal stroma product developed mainly by China Regenerative Medicine Int. Ltd. (CRMI) and the Tissue Engineering R & D Center with the Fourth Military Medical University (FMMU), is the result of decades of research. It was accredited with due qualification by China Food and Drug Administration in late April.

The product, a kind of heterogeneous cornea, is devoid of cells, hybrid proteins, poly-saccharides and other antigens, but retains a natural collagen structure with remarkable bio-compatibility and biological safety, according to Jin Yan, head of the Tissue Engineering R & D Center with FMMU.

"It can quickly integrate with the surrounding tissue, and promote its own cells to be rebuilt. The transplanted cornea will gradually become transparent, thus, recovering the patient's vision," Jin added.

The Acornea has complete independent intellectual property rights and has been industrialized, which is a significant step for China in the field of tissue engineering and regenerative medicine, according to Guan Guoliang from CRMI.

Existing treatment for corneal blindness includes transplants and artificial corneas. Some heterogeneous materials, such as glass and silica gel, made with synthetic material are often rejected by the body.

Beijing Tongren Hospital and Wuhan Xiehe Hospital, among others, have conducted clinical trials of Acornea since 2010, recording a success rate of 94.44 percent, similar to the results seen with donated human corneas.

According to the World Health Organization, there are about eight million blind patients in China. However, only about 5,000 of those receive donated corneas annually.

 

[Jlaw]

CPIC is a State-owned power generation enterprise

Chalk up another win for SOE

 

[TaiShang]

Chalk up another win for SOE

SOEs are one of the backbones of China's economic sovereignty.