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Veteran banker Liu Shiyu was recently appointed chairman of the China Securities Regulatory Commission， the country’s securities watchdog.
Liu was deputy governor of the central bank from 2006 to 2014. He had been head of the Agricultural Bank of China， the country’s third largest commercial lender by assets， prior to his latest appointment.
During his term as deputy governor of the central bank， he commented many times on the Chinese stock market. Liu once said that a multilayered capital market was key to solving various market problems in China and that the country needed to expand capital market financing instead of relying solely on refinancing， which refers to the refunding or restructuring of debt with new debt， equity or a combination of both.
Liu now faces the daunting task of stepping up the reform of China’s stock market. Born in 1961 in Guanyun County in east China’s Jiangsu Province， he holds a master’s degree from Tsinghua University’s School of Economics and Management.
Washington’s Role as A Destabilizer
Xinhua News Agency February 24
The recent U.S. hype about alleged Chinese military maneuvers in the South China Sea， however sensational， will not hide the fact that Washington is now the top contributor of tension in the region.
In the lead-up to Chinese Foreign Minister Wang Yi’s visit to the United States， some U.S. media organizations played up China’s deployment of a surface-to-air missile system on Yongxing Island. Right after Wang’s joint press conference with his U.S. counterpart John Kerry on February 23， Fox News reported that the U.S. intelligence had seen activities of fighter jets on the same island.
U.S. media have failed to give due attention to the fact that deployment of defense measures has been going on for decades on the island， home to the municipal government of China’s southernmost city of Sansha. China has repeatedly made clear that it has no intention to militarize the region. With trillions of dollars worth of goods traversing the patch of water every year， the South China Sea is vital both to global trade and to China’s development. Beijing has no reason to disrupt one of its own crucial arteries of trade.
The United States has conducted a slew of naval and air patrol trips in the vicinity of the China-owned islands. It has also reopened military bases in the Philippines， in a move widely interpreted as stirring up tension in the region. If there were a ranking for destabilizers in the South China Sea， there’s no doubt Washington would top the list. Returning to Family Life
South Reviews February 10-23
A trend of people retreating into their shells has crept in throughout China in recent years thanks to the new normal of economic development， according to Zhu Shanjie， a research fellow from Shanghai University.
In the new normal context， and with slowed growth， many Chinese feel more pressure in their careers. Also， prices of housing and other goods and services keep increasing. Social and economic changes affect not only many people’s careers， but also their lifestyles. Many try to reinstate traditional family life. Topics like healthcare and diet， instead of politics and the economy， are popular on social media platforms. More and more Chinese indulge themselves in spending holidays at home or traveling alone. Rather than take part in big public events， they prefer to spend time with family members and post about their lives. Online shopping is another hot way to kill time.
The trend is believed to become more evident in 2016. With the return to family life and personal worlds， more products related to daily life will be needed， bringing in new business opportunities. The new normal is leading to changes in many Chinese people’s way of life， which may in turn affect the country’s social structure.
Railway Runner Free to Set Ticket Prices
Beijing Times February 22
China Railway Corp. （CRC）， the only operator of the country’s railways， is empowered to decide how much high-speed train tickets cost as of the beginning of 2016. The announcement was made by the National Development and Reform Commission （NDRC）， which previously set the price.
Transferring the pricing right to CRC is a necessary step for the railway runner to realize marketization. To achieve a balance between public service and profitable business， railway ticket prices are not allowed to dance with the market， and the benchmark ticket price for high-speed trains set by the NDRC have remained unchanged for years. Consequently， misallocation of resources has happened frequently and CRC is now shouldering heavy debt. As an enterprise in a market economy， CRC should be freed from the shackles of administrative intervention and adopt a flexible pricing mechanism based on changes in demand and supply.
Yet some worry that the reform may lead to unreasonably high prices for high-speed train tickets， because CRC enjoys a monopoly as the country’s only runner of high-speed trains. Also， current heavy debt may impel CRC to hike ticket prices. What’s more， high-speed trains are safer and more competitive than other means of transportation including planes， ships and cars. To avoid unreasonable ticket price hikes， more efficient transportation choices should be offered and necessary supervision from the government is imperative.
TFORMER NYC COP’S CONTROVERSIAL CONVICTION
The conviction of Peter Liang， a 28-year-old former New York police officer， triggered protests in cities across the United States on February 20.
Liang was a rookie cop on patrol in a Brooklyn housing project in 2014 when he fired his gun. The bullet ricocheted off a wall and struck Akai Gurley， an African American man， in the chest. The victim later died at a hospital. Liang was found guilty by a grand jury and could face up to 15 years in prison for the manslaughter count.
The protesters were primarily Chinese Americans like Liang who carried signs that read “no scapegoating，” “one tragedy， two victims” and“condolences to Akai Gurley， justice for Peter Liang.” They believe that Liang is being used as a scapegoat for past instances of fatal police actions around the United States. Prosecutors， however， held that Liang’s actions were reckless.
“Demilitarization needs efforts of all parties， not only China， but also the United States and ASEAN countries.”
Foreign Minister Wang Yi， commenting on militarization in the South China Sea at a joint press conference with U.S. Secretary of State John Kerry after their meeting on February 23 in Washington， D.C.
“Since 2014， Beijing has increased cooperation with hospitals in Hebei Province’s Yanjiao， Zhangjiakou and Caofeidian by sending experts to perform surgeries in these hospitals and helping them train doctors and nurses.”
Gao Xiaojun， spokesman for the Beijing Municipal Commission of Health and Family Planning， on the capital’s measures to ease overcrowding in public hospitals on February 23
“A firm political stance and fine-tuned professional skills are required for today’s media to exercise their duty.”
Lu Shaoyang， head of Peking University’s School of Journalism and Communication， responding to calls made by President Xi Jinping on news media in China to provide guidance for the public and serve the country’s overall interests at a symposium following his visits to three leading news organizations on February 19
“Over 90 percent of new businesses were set up by individuals in 2015 as more people become entrepreneurial due to easier access and more government support.”
Zhang Mao， head of the State Administration for Industry and Commerce， at a press conference on February 22
Liu was deputy governor of the central bank from 2006 to 2014. He had been head of the Agricultural Bank of China， the country’s third largest commercial lender by assets， prior to his latest appointment.
During his term as deputy governor of the central bank， he commented many times on the Chinese stock market. Liu once said that a multilayered capital market was key to solving various market problems in China and that the country needed to expand capital market financing instead of relying solely on refinancing， which refers to the refunding or restructuring of debt with new debt， equity or a combination of both.
Liu now faces the daunting task of stepping up the reform of China’s stock market. Born in 1961 in Guanyun County in east China’s Jiangsu Province， he holds a master’s degree from Tsinghua University’s School of Economics and Management.
Washington’s Role as A Destabilizer
Xinhua News Agency February 24
The recent U.S. hype about alleged Chinese military maneuvers in the South China Sea， however sensational， will not hide the fact that Washington is now the top contributor of tension in the region.
In the lead-up to Chinese Foreign Minister Wang Yi’s visit to the United States， some U.S. media organizations played up China’s deployment of a surface-to-air missile system on Yongxing Island. Right after Wang’s joint press conference with his U.S. counterpart John Kerry on February 23， Fox News reported that the U.S. intelligence had seen activities of fighter jets on the same island.
U.S. media have failed to give due attention to the fact that deployment of defense measures has been going on for decades on the island， home to the municipal government of China’s southernmost city of Sansha. China has repeatedly made clear that it has no intention to militarize the region. With trillions of dollars worth of goods traversing the patch of water every year， the South China Sea is vital both to global trade and to China’s development. Beijing has no reason to disrupt one of its own crucial arteries of trade.
The United States has conducted a slew of naval and air patrol trips in the vicinity of the China-owned islands. It has also reopened military bases in the Philippines， in a move widely interpreted as stirring up tension in the region. If there were a ranking for destabilizers in the South China Sea， there’s no doubt Washington would top the list. Returning to Family Life
South Reviews February 10-23
A trend of people retreating into their shells has crept in throughout China in recent years thanks to the new normal of economic development， according to Zhu Shanjie， a research fellow from Shanghai University.
In the new normal context， and with slowed growth， many Chinese feel more pressure in their careers. Also， prices of housing and other goods and services keep increasing. Social and economic changes affect not only many people’s careers， but also their lifestyles. Many try to reinstate traditional family life. Topics like healthcare and diet， instead of politics and the economy， are popular on social media platforms. More and more Chinese indulge themselves in spending holidays at home or traveling alone. Rather than take part in big public events， they prefer to spend time with family members and post about their lives. Online shopping is another hot way to kill time.
The trend is believed to become more evident in 2016. With the return to family life and personal worlds， more products related to daily life will be needed， bringing in new business opportunities. The new normal is leading to changes in many Chinese people’s way of life， which may in turn affect the country’s social structure.
Railway Runner Free to Set Ticket Prices
Beijing Times February 22
China Railway Corp. （CRC）， the only operator of the country’s railways， is empowered to decide how much high-speed train tickets cost as of the beginning of 2016. The announcement was made by the National Development and Reform Commission （NDRC）， which previously set the price.
Transferring the pricing right to CRC is a necessary step for the railway runner to realize marketization. To achieve a balance between public service and profitable business， railway ticket prices are not allowed to dance with the market， and the benchmark ticket price for high-speed trains set by the NDRC have remained unchanged for years. Consequently， misallocation of resources has happened frequently and CRC is now shouldering heavy debt. As an enterprise in a market economy， CRC should be freed from the shackles of administrative intervention and adopt a flexible pricing mechanism based on changes in demand and supply.
Yet some worry that the reform may lead to unreasonably high prices for high-speed train tickets， because CRC enjoys a monopoly as the country’s only runner of high-speed trains. Also， current heavy debt may impel CRC to hike ticket prices. What’s more， high-speed trains are safer and more competitive than other means of transportation including planes， ships and cars. To avoid unreasonable ticket price hikes， more efficient transportation choices should be offered and necessary supervision from the government is imperative.
TFORMER NYC COP’S CONTROVERSIAL CONVICTION
The conviction of Peter Liang， a 28-year-old former New York police officer， triggered protests in cities across the United States on February 20.
Liang was a rookie cop on patrol in a Brooklyn housing project in 2014 when he fired his gun. The bullet ricocheted off a wall and struck Akai Gurley， an African American man， in the chest. The victim later died at a hospital. Liang was found guilty by a grand jury and could face up to 15 years in prison for the manslaughter count.
The protesters were primarily Chinese Americans like Liang who carried signs that read “no scapegoating，” “one tragedy， two victims” and“condolences to Akai Gurley， justice for Peter Liang.” They believe that Liang is being used as a scapegoat for past instances of fatal police actions around the United States. Prosecutors， however， held that Liang’s actions were reckless.
“Demilitarization needs efforts of all parties， not only China， but also the United States and ASEAN countries.”
Foreign Minister Wang Yi， commenting on militarization in the South China Sea at a joint press conference with U.S. Secretary of State John Kerry after their meeting on February 23 in Washington， D.C.
“Since 2014， Beijing has increased cooperation with hospitals in Hebei Province’s Yanjiao， Zhangjiakou and Caofeidian by sending experts to perform surgeries in these hospitals and helping them train doctors and nurses.”
Gao Xiaojun， spokesman for the Beijing Municipal Commission of Health and Family Planning， on the capital’s measures to ease overcrowding in public hospitals on February 23
“A firm political stance and fine-tuned professional skills are required for today’s media to exercise their duty.”
Lu Shaoyang， head of Peking University’s School of Journalism and Communication， responding to calls made by President Xi Jinping on news media in China to provide guidance for the public and serve the country’s overall interests at a symposium following his visits to three leading news organizations on February 19
“Over 90 percent of new businesses were set up by individuals in 2015 as more people become entrepreneurial due to easier access and more government support.”
Zhang Mao， head of the State Administration for Industry and Commerce， at a press conference on February 22