IN BRIEF (Page 2)

Positive signs for industry emerging

China's industrial profits showed positive changes in August, thanks to policy efforts to reduce waste. Data released by the National Bureau of Statistics show that profits of industrial enterprises increased by 8.4 percent year-on-year from January to August, up by 1.5 percentage points compared with the first seven months' year-on-year results. Growth in industrial profits in August increased by 19.5 percent year-on-year, the fastest monthly growth since September 2013, data showed. But economists hastened to add that uneven growth is seen across sectors, and the country is faced with a herculean effort in structural reforms.

Beijing rebuffs US charges against firm

China protested on Sept 27 after the United States lodged criminal charges and sanctions on Sept 26 against a Chinese firm it accuses of being connected to Pyongyang's nuclear weapons program. The US accused the Dandong Hongxiang Industrial Development Co of violating US laws against supporting "weapons of mass destruction proliferators", and engaging in money laundering in the US and elsewhere in support of the Democratic People's Republic of Korea. The Chinese Foreign Ministry said China objects to any country attempting to exercise jurisdiction over a Chinese entity or individual based on its domestic laws. The company is already being investigated by the public security authority, Chinese officials said. The cross-border trading company is registered near the China-DPRK border.

Premier welcomed by Castro in Cuba

Premier Li Keqiang met with Fidel Castro, the 90-year-old leader of the Cuban Revolution, on Sept 25 during his visit to the island nation in an expression of respect for the legendary revolutionary. China cherishes the traditional friendship with Cuba, Li said, adding that it is willing to enhance political mutual trust, expand cooperation and boost the friendship between the people of both countries.

Mainland tourists shunning Taiwan

Taiwan is expected to see fewer mainland tourists during the upcoming National Day holiday, as cross-Straits relations remain in stalemate. Bookings for trips to Taiwan during the holiday from Oct 1 to 7, also known as Golden Week, dropped by 20 to 30 percent from last year, according to the China Youth Travel Service, a major tourism operator. Meanwhile, Taiwan tourism professionals are predicting that the number of mainland travelers may drop by 44 percent year-on-year this year, according to media reports.

Massive fund to help reform giant SOEs

Major Chinese state-owned enterprises have launched the nation's largest private equity fund, worth 350 billion yuan ($52.5 billion; 468 billion euros), to finance SOE restructuring as part of China's efforts to advance supply-side reform. The money will be used for such measures as mergers and acquisitions, industrial upgrades and innovation, officials said. A private equity fund, in general, is a type of vehicle involving rules for capital not publicly noted on a stock exchange. Initial capital of 131 billion yuan was raised by 10 state-owned companies, including China Mobile Ltd, China Railway Rolling Stock Corp, and China Petroleum and Chemical Corp. China Chengtong is taking the lead.

Li says more doors to open for Portugal

Portuguese companies are welcome to explore the Chinese market, and Beijing encourages domestic enterprises to invest in the European country, Premier Li Keqiang said while meeting with Portuguese Foreign Minister Augusto Santos Silva on Terceira Island. China is willing to strengthen high-level exchanges, deepen political trust and enhance mutual understanding and pragmatic cooperation with Portugal, Li said. Beijing is also willing to establish closer people-to-people exchanges and enrich the two nations' comprehensive strategic partnership, he added.

Drafts on practices of Party reviewed

The sixth plenary session of the 18th Communist Party of China Central Committee will be held in Beijing from Oct 24 to 27, the Political Bureau of the CPC Central Committee said. Members of the Political Bureau heard reports at a meeting on Sept 27 on the drafting of two documents to be submitted to the plenum for deliberation. They deal with updating the norms of political practices within the Party and revising an intra-Party supervision regulation, according to the announcement. The meeting was presided over by Xi Jinping, general secretary of the CPC Central Committee.

Big money sought to connect Asia-Pacific

Huang Mengfu, honorary chairman of the China National Committee for Pacific Economic Cooperation, said at the International Symposium: Connecting the Connectivities in Asia-Pacific that global demand for infrastructure investment will reach $50 trillion in 15 to 20 years. Joint efforts are needed by Asia-Pacific countries to create innovative financing mechanisms to develop infrastructure, he said. According to the World Economic Forum, annual demand globally is currently $3.7 trillion, but as there is a $1 trillion shortage of investment, actual investment is about $2.7 trillion, Huang said.

Nations to enhance efforts against terrorism

An agreement was reached at the first China-India Dialogue on Counterterrorism and Security held in Beijing that China and India will enhance law enforcement cooperation to fight cross-border terrorist attacks amid increasing threats to the region. Establishing a China-India counterterrorism dialogue mechanism will play an essential role in "enhancing their mutual trust and deepening pragmatic judicial cooperation to fight terror attacks, and in maintaining regional security and stability", said Lan Jianxue, a researcher at the China Institute of International Studies.

Sichuan to lead new opening-up

Sichuan province is expected to become the leader of China's future overall opening-up, Foreign Minister Wang Yi said on Sept 28 during the fourth event in a series to present Chinese provinces, municipalities and autonomous regions to the world. Diplomats and representatives from 140 countries attended the event. Sichuan, in southwestern China, is considered the strategic bridge of the Belt and Road Initiative and the heartland of the Yangtze River Economic Belt. By establishing economic and trade relations with 216 countries and regions, the province has been transformed in recent years from an inland hinterland to the frontier of opening-up.

Build trust that lasts, says 'Tokyo consensus'

China and Japan need to develop extensive nongovernmental exchanges for the sake of the future of Asia and the world, according to the "Tokyo consensus" issued by the 12th Beijing-Tokyo Forum on Sept 28. Chinese and Japanese panelists at the forum conceded that their countries are divided on many issues and agreed to work hard on building long-lasting trust. The document called on the two governments to appropriately handle issues and differences involving security and the military. It recommended that the two countries expedite the establishment of a "maritime and air liaison mechanism" in an attempt to enhance mutual trust, reduce suspicion and avoid misjudgments.

Taiwan urged to safeguard islands

Ma Xiaoguang, spokesman for the State Council's Taiwan Affairs Office. urged people across the Taiwan Straits on Sept 28 to safeguard the Diaoyu Islands and the South China Sea islands as China's ancestral possessions. The mainland also hopes to maintain the peaceful development of relations across the Straits, Ma said during a news conference when asked about remarks by former Taiwan leader Ma Ying-jeou. Ma had said that the Diaoyu Islands in the East China Sea and islands in the South China Sea are China's inherent territory and that Japan's territorial claim to the Diaoyu Islands amounts to an act of theft. He also said peace is highly important to cross-Straits relations and will bring prosperity.

China and Europe work on boosting jobs

China and the European Commission should further learn from each other in boosting employment and social security under the joint Social Protection Reform Project, Wang Xiaotao, vice-minister of the National Development and Reform Commission, said on Sept 28. Wang said although China is on track to make the labor market more resilient, the nation faces new challenges amid its economic transformation. The registered urban unemployment rate in China has been at 4.05 percent in recent years, Wang told a two-day, high-level forum on social protection reform that began in Beijing on Sept 27.

Property to be seized to pay court penalties

A national online system to search for the property information of people who have failed to carry out court judgments is taking shape, Jiang Bixin, vice-president of the Supreme People's Court, said on Sept 28. The system, which will cover all regions of the country, aims to help courts discover what property and other assets are held by defaulters, with a view toward liquidating them to enforce monetary judgments, Jiang said.

Mentuhui cult members sentenced in crackdown

Prison terms have been handed down to several members of the Mentuhui group (Disciples Sect) for organizing a cult and causing deaths, according to the central leading group for the prevention and handling of cult-related activities on Sept 27. The Mentuhui, with tens of thousands of followers, is said to have spread pseudoscience and evil thoughts under the guise of Christianity. Mentuhui was classified as a cult by the government in the 1990s.

(China Daily Africa Weekly 09/30/2016 page2)