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The China MonitorJanuary 2009China Consolidating Position as World No.1 GoldProducer China's Ministry of Industry and InformationTechnology has released figures for the country's goldoutput in November showing that production for theyear to end-November reached 246.51 tonnes. This isup only 2.14 % fromthe figure for the first11 months of 2008 -the year in whichChina's goldproduction exceededthat of South Africafor the first time,making it the world's Smithsoniantop producer.China to expand its military reachChina has said it plans to step up the modernisation ofits armed forces, expanding the military's global reach,but at the same time calling on the incoming USadministration to improve military relations betweenthe two countries. A government policy report,released recently, said China's overall securitysituation had improved but that China's armed forcesneeded to improve to protect Chinese economicinterests around the world.China cuts fuelprices for firsttime in twoyearsChina cutdomestic fuelprices in Januaryfor the first timein almost twoyears as itManagingthedragon.comrevamps its regulated pricing regime, passing along ashare of oil's over US$100 slump to help reviveflagging economic growth. Crude oil gainedmoderately after Beijing announced a 14 % cut inrefinery gate gasoline prices and 18 % drop in dieselprices, plus a nearly one-third cut in jet fuel. The cutswere not unexpected after China announced lastmonth that it would push ahead a long-stalled effort toallow its domestic prices to fluctuate in line with theglobal market.China-Taiwan start direct transport, postal serviceChina and Taiwan began direct air, sea transport andpostal services, the latest step to further improve thestrained ties between the two rivals. The move marksan end to the practice that air and sea transport as wellas mail between the mainland and Taiwan had to bererouted. Direct shipping, transport and postal servicesacross the Taiwan Strait also commenced. This is thefirst time direct flights have been conducted betweenthe two countries since the Chinese civil war in 1949.CNOOC to increase crude, gas productionChina's top offshore oil and gas producer CNOOC Ltd.plans to lift its 2009 crude and gas production by 16 %to 18 %, as some significant projects are expected tocome online this year. Total production will be 225million to 231 million barrels of oil equivalent comparedwith the estimated production of 194 million to 196million BOE for 2008, the Beijing-based company saidin a statement.Death Sentences in Chinese Milk CaseChinese courts sentenced two men to death forendangering public safety in a tainted-milk scandal thatkilled at least six children, according to Chinese staterunnews media. Three other defendants, including atop dairy company executive, were sentenced to life inprison. Another defendant received a suspended deathsentence, and 15others were givenprison terms from 2 to15 years. Thesentences were thefirst to be handeddown in one of theworst food safetyOurworldfoundation.org.uk scandals in China indecades. Thescandals erupted in September 2008, prompting aglobal recall of Chinese-made dairy products, shakingconsumer confidence and devastating the nation’sdairy industry.China's energy saving a silver lining to economicgloom Government data showed that China met anunofficial energy-saving target for the first time in 2008,as a serious economic slowdown succeeded whereyears of exhortations from the country's leaders failed.The amount of energy used to generate each dollar ofnational income fell 4.2 % last year, accelerating froma 3.7 % fall the previous year as factories closed or cutback production across the country's manufacturingheartland. Heavy industrial and manufacturing sectorshave been worst hit by the crisis, nudging the country'spattern of growth toward the service and retail sectorsin a way that, at least temporarily, dovetails withBeijing's plans for cleaner growth.China plays maritime chessChina, undergirding its larger geostrategic motives,says it is "seriously considering" adding an aircraftcarrier to its navy fleet — a symbol of "a nation'scomprehensive power," as a military spokesperson putit. The start of Chinese patrols in the pirate-infestedGulf of Aden is intended to extend China's naval roleand presence far from its shores while demonstrating,under United Nations rules of engagement, a capabilityto conduct complex operations in distant waters.© Centre for Chinese Studies, University of Stellenbosch; All Rights Reserved12
The China MonitorJanuary 2009Taiwan embraces China's gift of 2 pandasTwo giant pandasfrom Chinacaptivated thousandsof Taiwaneserecently, but theplayful bears failed tocompletely disarmZimbio.comspectators from therival island. Chinapresented the 4-year-old pandas to mark warming tiesbetween the mainland and the island, which split amidcivil war in 1949, although opposition politicians andother Taiwanese sceptics have denounced the gift aspropaganda. China named the animals Tuan Tuan andYuan Yuan, which together means "reunion."China’s US$124 Billion Health-Care Plan Aims toBoost Consumption China’s pledge to spendUS$124 billion to revamp its health-care system willspur consumption and help achieve the government’sgoal of 8 % economic growth this year, said a seniorgovernment official. The Chinese governmentintroduced the health plan and other polices “toovercome the current difficulties and to also lay thegroundwork for long-term development,” Ma Jiantang,head of the National Bureau of Statistics, said at abriefing in Beijing after he announced that China’seconomy grew at the slowest pace in seven yearsduring the fourth quarter.Spring Festival marks new beginning for ChineseGlobal crisis or not, Chinese retained their enthusiasmfor celebrating the Lunar New Year, which officiallybegan at the end of January. More than 68 tonnes offireworks debris were collected on the eve of theSpring Festival in Beijing alone. Beijingers also wenton a US$ 85.2millionshoppingspree,spending 13.4% more thanlast year. Notonly did 1.3billion Chinesebask in theXinhua Newsfestive atmosphere, some foreign nationals sharedtheir feelings.disputes and, in semi-annual reports, refrained fromlabelling it an illegal “manipulator” of its currency.China’s growth drops as recession hits exportsGrowth in manufacturing powerhouse China droppedsharply in the fourth quarter, as the global recession hitfactory exports and a domestic property slump stifledconstruction. Fourth quarter GDP growth dropped to6.8 %, dragging full year growth down to 9 %, theNational Bureau of Statistics revealed. Thatrepresented a sharp fall from last year’s 13 %, whichpushed China up the rankings to the world’s thirdlargest economy. Though growth is still faster thanother major economies, it has now been slowing for sixconsecutive quarters, a trend that is worrying itsleaders as well as the international community. Majortrade partners like the US fear Beijing will furtherdevalue the yuan to help exports, reviving tradefriction.Castro serenades China's Hu on landmark Cubavisit Chinese President Hu Jintao made a landmarkvisit to Cuba inJanuary, bearingmillions of USdollars in aid andpromises ofcloser futuretrade ties. TheChinese leaderXinhua Newsbrought 4.5tonnes ofhumanitarian aid for victims of three hurricanes thatbattered Cuba this year, which was handed over lateMonday.Sourced from: Google, Xinhua News, Nature.com, CNN.com, ChinaBriefing, Bloomberg.com, AllAfrica.com, Aljazeera.net,Smashits.com, Reuters, NYTimes.com, Japantimes.co.jp,Forbes.com, Guardian.co.ukChina Is ‘Manipulating’ Yuan, Geithner TellsCongress Timothy Geithner, President BarackObama’s nominee for Treasury secretary, said the newU.S. administration believes China is “manipulating” itscurrency. The remarks on China’s exchange-ratepolicy may presage a tougher line with the nation thatis the biggest foreign investor in U.S. government debt.Former Treasury Secretary Henry Paulson preferreddiplomacy over confrontation with China to resolve© Centre for Chinese Studies, University of Stellenbosch; All Rights Reserved13
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