China Economy Forum

[AndrewJin]

S.Korean film ‘Assassination’ aims to make a killing in China
By Li Jingjing -- 2015-9-9 18:28:01

A still from South Korean film Assassination Photo: CFP

Patriotic period films rarely become box office winners, yet South Korean film Assassination won both critical acclaim as well as a hefty box office in its home country.

"There were no successful examples in South Korea before this. This film doesn't try to force audiences to feel patriotic. I wanted to make a film that had continuous tension," the film's director Choi Dong-hun told the Global Times at a press meet in Beijing on Tuesday.

After premiering on July 22 in South Korea, the film soon broke the 10 million admissions mark in just 25 days and eventually received 12.5 million admissions overall, the sixth South Korean film to do so in the country's film history.

Now, just a few days after South Korean President Park Geun-hye attended China's military parade commemorating the 70's anniversary of the end of WWII, Assassination has been scheduled to hit Chinese screens on September 17.

Anticipation

Although the film hasn't officially hit Chinese cinemas, it already has high ratings (8.4/10) and positive reviews on Chinese media site douban.com.

Many of those who have already seen the film have praised the film's storyline and the performances of the actors, saying that the cast has successfully transformed a patriotic period film into an "idol drama."

Although the film depicts Koreans fighting against Japanese invaders, it also has a deep connection to China as well. The film is set in the 1930s, a time when Korea was under Japanese control and many resistance fighters chose to make Shanghai their stronghold.

To help maintain historical accuracy, many of the film's scenes were filmed in studios in Shanghai.

"I heard China has many films set in this period. But this is a film about what other countries did during this period, so I trust Chinese audiences will be interested," Choi said.

Perfect choiceAssassination gathers several A-list stars famous across Asia, Gianna Jun, Lee Jung-jae and Ha Jung-woo. Jun especially gained ultra-high popularity in China through her film My Sassy Girl (2001) and TV drama My Love from the Star (2014).

Also starring Jun and Lee, Choi's previous film The Thieves (2011) was also a record-breaker in South Korea. The Thievesbroke several box-office records to become the No.1 South Korean box office winner of all time (a record later broken by 2014's The Admiral Roaring Currents). A coproduction with a Chinese studio and also featuring Chinese actors, the film was also a success in the Chinese market.

Now one of South Korea's box-office winning directors, Choi said that he began thinking about making a film likeAssassination almost nine years ago. However, it wasn't until he was preparing for The Thieves that he felt he found the perfect actress for the film in Jun.

Although she played an out-going and pretty character in The Thieves, Jun's inherent calmness and steadiness surprised the director. Jun soon became his ideal choice for Assassination's main character - the sniper the majority of the plot revolves around.

Choi also revealed he liked Lee's performance during the first day of filming The Thieves that he decided he wanted to work with him again so he could see a different side of the actor.

Lee has earned fame and awards for his performances in films like A Love Story (2000) and The Face Reader (2013). He plays a double agent in Assassination.

"I believe everyone has two-sides. It's my way of acting that when I'm playing a funny and out-going person, I like to add some loneliness as well. But when playing a character with deep emotions, I tend to treat them as more out-going," Lee, who was also at the event, said.

Known for his outstanding films The Chaser (2008), The Yellow Sea (2010) and The Terror Live (2013), Ha is no stranger to China.

In 2014, Ha adapted famous Chinese novel Xu Sangguan Mai Xue Ji by Yu Hua into feature film Chronicle of a Blood Merchant, which he directed and played the main character.

"Chinese literature is inexhaustible. China is a very interesting country. Yu Hua's novel surprised me. I hope to have more opportunities to adapt more Chinese works," Ha said.

The film has received mixed reviews outside South Korea, with some praising the film's actions scenes and others criticizing the story as being too complicated. The Village Voice called the film an "overstuffed historical mega-production that Hollywood doesn't make anymore."

However, considering the shared history between China and South Korea, the popularity of the cast in both countries and previous market successes, it seems Assassination is set for a promising future in the Chinese market.

***

Please do remember: South Korean movies are not considered foreign, hence, there is no quota unlike the one placed on other foreign productions.

Interesting story!

 

[AndrewJin]

沙发！

 

[AndrewJin]

Nice title, so bored to read those into the arms of rising sun when their economy is rapidly shrinking.

 

[Chinese-Dragon]

Though economic growth moderated to 7 percent in the first half, retail growth in China has risen more than 10 percent so far this year. Household disposable income has also outstripped economic growth, Li said.

10% retail growth is really impressive, and bodes well for our plan to turn our domestic consumer market into a new engine for our economy.

 

[AndrewJin]

10% retail growth is really impressive, and bodes well for our plan to turn our domestic consumer market into a new engine for our economy.

4.28 trillion US dollars of 2014!!

 

[TaiShang]

China Plans to Launch Own International Payment System by 2016

09:40 10.09.2015

China will continue to loosen restrictions on private capital access to the financial sector, Prime Minister Li Keqiang said.


DALIAN (Sputnik) — China plans to launch its own international payment system later this year, the country's prime minister, Li Keqiang, said on Thursday.

"By the end of the year, we will complete the development of China's International Payment System, CIPS", Premier Li Keqiang said at the annual plenary session of the State Council, China's cabinet.

The prime minister described steps the Chinese government is taking to become more open to the world community.

"We have a high savings rate and large foreign exchange reserves. It is necessary to use these resources effectively, and to improve the efficiency of the financial sector, by reducing the key rate," he said.

According to Li Keqiang, China will continue to loosen restrictions on private capital access to the financial sector.

"We will help develop private banks, and open the financial sector wider for the rest of the world. It is our goal," he added.

Li Keqiang noted that China plans to assist in facilitating foreign central banks in the inter-bank foreign exchange market.

CIPS is expected to replace the use of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment system in China, and will provide a network enabling financial institutions across the world to send and receive information about financial transactions to Chinese financial institutions.

 

[TaiShang]

Nice title, so bored to read those into the arms of rising sun when their economy is rapidly shrinking.

These are to provide some insight into China's inclusive development across the board. Unfortunately, certain countries often finds no other diplomatic discourse other than militarization.

 

[Echo_419]

Closer Seoul-Beijing ties bring prosperity
By Wang Sheng -- 2015-9-9


The nominee president of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun visited South Korea earlier this week. During the trip, he highlighted the significance of the multilateral development bank and discussed future cooperation with South Korean officials and enterprises.

Jin picked South Korea for his first trip, out of all the 57 founding members, because of the pivotal role that the nation is expected to play in the AIIB. The multilateral development bank, focusing on the infrastructure development in the region, is closely connected to China's "One Belt, One Road" initiative.

South Korean President Park Geun-hye has proposed the Eurasia Initiative in 2013, aiming to enhance connectivity among logistics, transportation, information and communication technology and energy networks in the region.

These two trade initiatives share similarities and can be linked up on the AIIB platform. Seoul's experience, as well as its financial and technical support, has a special significance for the future of the AIIB.

In addition, the Korean Peninsula is expected to play an indispensible role in the regional infrastructure development, as well as the future integration of East Asia. The Korean Peninsula ought to be included in the east end of the "One Belt, One Road" initiative. This will accelerate the establishment of the East Asia Free Trade Area and facilitate the development of the Tumen River, which runs along China's border with North Korea.

Economic cooperation will also make reconciliation in the region easier to realize.

Other clues for closer Beijing-Seoul ties are easy to find. Lately, Park, despite pressure from both home and abroad, accepted the invitation to participate in China's V-day parade to celebrate the 70th anniversary of the end of WWII. She also brought the largest ever South Korean economic delegation to Beijing.

The bilateral free trade agreement has been signed in June, which was completed only three months after the two sides announced a conclusion of negotiations. All these is strong evidence for a warmer China-South Korea relationship.

The stronger ties between the two sides are not surprising. With the development of China's economy, Seoul is increasingly dependent on Beijing. South Korea's trade volume with China has far exceeded that with the US.

Park's government has been in a diplomatic dilemma in recent years. In the past, the ideal approach for Seoul was to balance its relationship with Beijing with its alliance with Washington.

However, the nation's increasingly economic dependence on China means that, for Park's government, China will carry more weight than before in the policymaking process. In addition, the development of the Beijing-Seoul relationship is based on the historical linkage over security in Northeast Asia. Preventing Japan's re-militarization is a shared political foundation for the two sides to cooperate.

Beijing's closer ties with Seoul may become a concern for Pyongyang. However, it should be stressed that the warmer China-South Korea relationship will facilitate the improvement of the bilateral relations between two Koreas.

Under the influence of China, South Korea may gradually begin improving its relations with the North. Pyongyang, meanwhile, will be less suspicious and mistrustful of Seoul following the efforts made by the South Korean government.

It has already been more than 20 years since Beijing and Seoul established a diplomatic relationship. It turns out that China's fast-developing relationship with South Korea has not influenced its friendship with the North, nor has it shaken the political foundation of China-North Korea relationship. The warming Beijing-Seoul ties will create a virtuous circle for the development of trilateral relationship.

The closer Seoul and Beijing become, the more difficult Washington's re-balancing policy in the Asia-Pacific region will be. The US has long been attempting to take advantage of its alliances with Japan and South Korea in order to target China. Admittedly, South Korea may have to bear some pressure from the US.

However, Seoul's diplomatic strategy will become more diverse if it continues its warm relationship with Beijing. The closer China-South Korea relationship is not only good for the two countries, but also beneficial to the peace and prosperity of the region.

Very original title

 

[VALKRYIE]

(Xinhua)
Updated: 2015-09-09 10:49:04

HANOI - Over 450 enterprises from Vietnam, China and other regional countries will attend the 15th Vietnam-China International Trade Fair 2015 in Vietnam's northern Lao Cai province, some 250 km northwest of capital Hanoi.

During the fair, which is scheduled to be held during Nov 12-17, participants will display their products in over 1,000 stalls, according to a report by Vietnam's state-run news agency VNA on Tuesday.

Agricultural products, machinery, electronics equipment and handicrafts will be displayed during the event, together with introduction of investment projects as well as tourism routes along Kunming-Lao Cai-Hanoi-Hai Phong-Quang Ninh economic corridor and other localities.

The event is held alternately between Vietnam's Lao Cai province and China's Yunnan province.

"This is an important event on promoting tourism and investment for Lao Cai and Yunnan in 2015, as well as a good opportunity for enterprises to meet and expand cooperation," said the report.

Over 450 enterprises to attend 15th Vietnam-China intl trade fair
- Chinadaily.com.cn

 

[Jlaw]

Household disposable income has also outstripped economic growth, Li said

This is probably the most important quote of a real healthy economy. Forget all those statistics economists will throw at you to confuse the masses. IF disposable income does not outstrip economic growth and inflation, you are not really better off despite making more.

My father worked in a warehouse back in 1987 making $25,000/year. In 2015, a typical warehouse job in medium-large city in Canada pay $15/hr or roughly $27,000/year pre-tax. According to Canadian CPI index with inflation, etc. a warehouse worker should be making at least $46,000/year to have the same buying power as someone making $25k in 1987. But alas that is not the case. I have not even include taxes deducted from pay as people paid lower taxes in 1987 than in 2015

China contributes 30% to global growth in H1
September 10, 2015

China contributed around 30 percent to world economic growth during the first half of this year, Chinese Premier Li Keqiang said on Thursday, adding that the world's second largest economy will not take a "hard landing".

Speaking at the opening ceremony of the annual summer meeting of the World Economic Forum in northeastern Dalian city, Li said China's 7 percent growth during the first half of this year was not an easy achievement amid a slowing world economy.

He said a seven percent rise for a 10 trillion dollar economic base is much bigger than the 10 percent growth of a smaller economy in the past, placing China among the world's top major economies.

MORE CONSUMPTION

A more encouraging sign, according to Li, is that the country's economy is more oriented toward consumption, which accounts for half of China's economic output and 60 percent of growth.

Though economic growth moderated to 7 percent in the first half, retail growth in China has risen more than 10 percent so far this year. Household disposable income has also outstripped economic growth, Li said.

Employment growth exceeded 7.18 million during the first half of this year, or 72 percent of the 10 million target set for the whole year.

"I have repeatedly said that as long as there is adequate employment, a steady rise in incomes and an improving environment, slower or faster growth is acceptable," Li said.

More than 100 million Chinese travelled abroad last year and the number of visitors rose 10 percent in the first six months of this year. Chinese tourists have demonstrated strong purchasing power abroad.

At home, consumption of information, culture, health and tourism services is strong. Energy conservation, environmental protection and the green economy are also emerging to create new growth drivers, according to Li.

NO HARD LANDING

Li also said the Chinese government is capable of dealing with the consequences of growth sliding out of reasonable range and that the Chinese economy will not have a "hard landing".

Despite slower foreign trade value growth, imports of commodities have grown in volume and the country's foreign direct investment will also continue to grow at a fast pace, Li said.

The Chinese economy is changing gears. Its vast manufacturing sector is upgrading and the economy is changing from relying heavily on investment to coordinated growth from both investment and consumption.

Li said fluctuation in growth at a time when the economy is undergoing a painful, difficult transition is normal and should not be a surprise.

"We are making targeted adjustments to the economy to reduce fluctuation in the short term and prevent risk contagion from overflowing." Li said.

***

Another case of China's inclusive development.

@tranquilium , @terranMarine , @Jlaw , @bolo , @AndrewJin , @cirr et al.

This is going to hurt some haters and increase "red eye" syndrome, lol.

 

[AndrewJin]

"red eye" syndrome

 

[cirr]

This should shut up a lot of the doomsayers with a brain that still functions。

 

[Zsari]

The Great Chinese Economic Transition Is Here
J. Edwards
September 9, 2015

Growth is certainly slower and its structure is changing, but is the outlook for China's economy quite as awful as global share markets seem to think?
Now the world's biggest economy (using the IMF's purchasing power parity measure), China matters vastly more for world markets than it did a decade ago, when it was less than half the size. It matters particularly to Australia, which in a decade has seen exports to China increase from one tenth of Australian goods exports to nearly one third.

The most dramatic recent slowdown sign was two weeks ago in China's manufacturing purchasing index. It was a little weaker than the market expected, sparking a global share sell off. But here's the problem: weakness in manufacturing output is exactly where we should expect to see weakness, if China is indeed making its long announced transition from exports, investment and heavy industry to consumption and services.
It was supposed to happen, and for a while it didn't. And now that it is happening markets don't know what to make of it.

The evidence of the transition accumulates, and it looks similar to the evidence for a general slowdown in China. Indeed it is identical, because slowing output growth is also part of the transition. Exports have slowed, for example. Steel production growth has slowed to zero, at least in the most recent reports, and most indicators of residential construction – prices, floor space sold – are very much weaker than they were a few years back. The current account surplus has dramatically narrowed (though now widening a little). Savings has fallen as a share of GDP, as has investment.

....

Revealed: The Great Chinese Economic Transition Is Here | The National Interest Blog

 

[Hamartia Antidote]

Chinese blockbuster Monster Hunt to hit North American theaters | EW.com

The record-breaking Chinese blockbuster Monster Hunt is heading across the Pacific, thanks to distribution company FilmRise, which has acquired exclusive North American rights to the live-action and CGI film. Screen Daily first reported the deal.

Directed by Raman Hui, who served as supervising animator on the first two Shrek films, Monster Hunt is set in a mythical world based on medieval China, where a “monster” race exists alongside humans. When a baby monster named “Huba” is born to a human man and monster queen, both races threaten the newborn’s existence.

Since its release mid-July in China, the film has become the highest-grossing Chinese film in history, raking in nearly $370 million. It’s on pace to become the highest-grossing movie of all time in China, a title currently held by Furious 7.

Monster Hunt will arrive in American theaters in early 2016.

 

[meis]

bumping this up so that Vietnamese can butt hurt