Annual Economic Conference Held in Beijing

时间:2022-07-25 01:59:00

From December 10 to 13, the Chinese government held its economic conference, its highest-level annual economic meeting at which leaders map the government’s major economic tasks for the coming year.

At the conference, the government set its 2014 GDP target at 7.5 percent, the same as in 2013. The figure was slightly higher than the 7 percent analysts had predicted before the conference. Analysts believed a lower GDP target would allow more space for the latest round of reforms, while the government, according to State media, aims to stabilize employment with medium-to-high economic growth.

Rather than focusing on growth speed, policymakers have emphasized that a progressive strategy is needed to push forward reform. “We should not define ‘development’ as ‘GDP growth.’ What we want is a speed that can ensure economic growth without any side effects,” read a statement from the conference.

Guided by this principle, the government has tried to recover the losses sustained due to overdevelopment in previous years, calling for tighter controls on problems including overcapacity, mounting local debt and insatiable urban construction. For the first time, the government emphasized the need for a higher “quality” of urbanization, pledging to allow rural migrants to enjoy the same rights as those holding a permanent urban residence permit.

Analysts are therefore predicting that the government will soon launch reform at regional and industrial levels, but wider reaching reform will not be implemented until policymakers come to an agreement and work out a detailed plan.

Diplomacy

Britain in China

British Prime Minister David Cameron made an official visit to China from December 2 to 4, in an effort to improve Sino-British relations, which had been strained since Cameron’s meeting with the Dalai Lama last May.

The state visit had a notably“civilian” theme, as Cameron took photos with Chinese entrepreneurs, had lunch at an ordinary restaurant in Chengdu, capital of Sichuan Province, and played ping-pong with local students. He also opened a microblog account on China’s Twitter equivalent, Weibo, which now has over 500,000 fans.

Cameron’s visit earned significant economic benefits he returned home with commercial agreements worth six billion pounds (US$9.8bn), covering the fields of sports, automobiles, tourism and trade.

In response, Cameron pledged not to meet with the Dalai Lama again in the near future, and also became the first European leader openly to support China’s promotion of free trade zone negotiations between China and Europe.

Science

Moon Landing

China’s Chang’e-III spacecraft deployed its Yutu rover on the surface of the moon on December 14, marking the success of the country’s first attempt to land on an extraterrestrial body.

The soft landing was conducted 13 days after Chang’e-III blasted off from the Xichang Satellite Launch Center in southwest China. The unmanned voyage will last 90 days, during which time the Yutu rover will probe deep into the surface of the moon, and carry out soil analysis.

According to China’s State media, Yutu, which uses domestically-manufactured nuclear batteries, has so far sent back over 50 images of the moon’s surface taken with its onboard camera.

According to the Chinese Academy of Sciences, China plans to land a manned probe on the moon around 2030, and set up the first lunar lab on its surface.

Business

4G Licenses Issued

China’s Ministry of Industry and Information Technology recently granted 4G (fourth generation telecommunication technology) licenses to China Mobile, China Telecom and China Unicom, China’s three State-owned telecom giants.

The first batch of 4G licenses authorize TDLTE (Time Division Long Term Evolution) technology only, a homegrown Chinese 4G standard similar to the internationally adopted FDD technology, developed in the US.

In the open statement, the Ministry pledged to grant FDD licenses in the future when “conditions are in place,” but some domestic experts have ex- pressed concern that the use of FDD technology puts China’s data security at risk. Chinese domestic media have revealed that the three companies have already begun experimenting with integrating TD and FDD technologies.

4G technology allows for super-fast network transmissions up to 100 megabytes per second, about 50 times the speed of 3G technology, yet costs less than its predecessor. The commercialization of 4G technology is expected to aid China’s economy by promoting investment into the upgrading of telecommunication equipment and networks.

Policy

Government Plans to Raise Retirement Age

To ease growing pressure on its pension fund, the Chinese government has announced its intention to raise the retirement age in “progressive steps.”

According to the Ministry of Human Resources and Social Security, the government will notify the public of changes several years before they are enacted, and will only add one or two months each time. The Ministry has also pledged to first implement the policy in selected occupations that impose higher experience requirements, such as doctors and teachers.

This soft approach did little to ease the worries of those who believe that the policy will impair their interests by extending insurance payments while shortening retirements. Others voiced concerns that the change will further reduce employment opportunities for graduates.

China’s current retirement age is 50 (female) or 55 (male) for private sectors or State-owned enterprises(SOE) workers, and 55 (female) or 60 (male) for government employees or SOE executives. Experts have predicted that each additional year will result in a 4-billion-yuan(US$667m) increase in the government’s pension fund.

Society

Young AIDS Sufferers on the Rise

China saw 1,700 more young people infected with HIV in 2012, 24.5 percent more than in 2011.

The figures were revealed by the Chinese Center for Disease Control and Prevention under the National Health and Family Planning Commission on November 30, the day before World AIDS day. The official statistics showed that young people aged between 15 and 24 accounted for 1.7 percent of the total number of new HIV infections in 2012, almost twice the figure for 2008. According to Yu Jinjing, director of the center, China is now home to more than 7,000 HIV-infected students.

The bureau also revealed that 87 percent of Chinese AIDS cases are transmitted through sexual intercourse, 64.8 of which was male-to-male. The experts have called for a more extensive awareness campaign specially targeting young people who hold increasingly open attitudes toward sex.

new hIV Infections:

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