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Rise of Shenzhen is Hong Kong’s largest contribution to China’s reform and opening up, Carrie Lam says on journey to satisfy state leaders – NEWPAPER24



Rise of Shenzhen is Hong Kong’s largest contribution to China’s reform and opening up, Carrie Lam says on journey to satisfy state leaders

2018-11-10 03:14:23

Hong Kong’s chief on Saturday hailed its function within the rise of Shenzhen as its largest contribution to China’s financial reform, whereas main a delegation of political and enterprise elites to the neighbouring metropolis on a visit to satisfy prime officers in Beijing.

The 160-strong group’s three-day go to was organised to commemorate the 40th anniversary of the nation’s reform and opening up, in addition to to plan for Hong Kong’s future.

Earlier than leaving town, Chief Govt Carrie Lam Cheng Yuet-ngor stated: “Over the previous 40 years, Shenzhen has been reworked from a small fishing to an economically essential metropolis immediately – I consider Hong Kong’s participation was important.”

Early have a look at Hong Kong high-speed trains for Shenzhen leaders

She additionally famous the delegation concerned members from varied sectors of Hong Kong.

Aside from town’s prime officers, the group included distinguished tycoons and politicians similar to Gordon Wu Ying-sheung, the 82-year-old founder and chairman of Hopewell Holdings; toy tycoon Lam Leung-tim, 94; and Peter Woo Kwong-ching, former chairman of Wharf Holdings.

Over the previous 40 years, Shenzhen has been reworked from a small fishing to an economically essential metropolis

Carrie Lam, Hong Kong chief government

Former chief executives Tung Chee-hwa and Leung Chun-ying had been additionally anticipated to affix the tour later as vice-chairmen of the Chinese language Folks’s Political Consultative Convention, the nation’s prime political advisory physique.

Lam had beforehand highlighted how Hong Kong performed a big and distinctive function in China’s reform and opening up. She stated numerous Hong Kong businessmen had been the primary to put money into the mainland, establishing manufacturing traces within the Pearl River Delta area and bringing with them capital, expertise and administration techniques.

The delegation kicked off their journey on Saturday by visiting an exhibition in Shenzhen, which showcased the mainland metropolis’s transformation from a fishing city in 1978 to China’s innovation and know-how hub and residential to 12 million.

Hong Kong second best Chinese language metropolis for fourth consecutive 12 months

The group is predicted to satisfy Shenzhen social gathering secretary Wang Weizhong over lunch, earlier than visiting one other exhibition and an iconic web site associated to reforms at Qianhai, Shenzhen’s new enterprise and monetary district.

The delegation will then fly to the Chinese language capital, and on Sunday attend a seminar to debate with Beijing officers how Hong Kong can additional contribute to China’s improvement.

On Monday morning, the group is predicted to satisfy one or two state leaders, similar to President Xi Jinping or Vice-Premier Han Zheng.


The within story of the propaganda fightback for Deng Xiaoping’s market reforms in China – NEWPAPER24




The within story of the propaganda fightback for Deng Xiaoping’s market reforms in China

2018-11-13 16:21:45

Deng Xiaoping remained a strong determine in retirement however it took intelligent manoeuvring by the then Chinese language paramount chief to get his derailed financial experiments again on observe, in response to a former senior propaganda official.

The bloody Tiananmen crackdown in 1989 virtually killed China’s nascent market reform programme, with conservatives rising to dominate the political scene and the market financial system and overseas funding derided as capitalist or revisionist forces undermining efforts to construct a socialist nation.

It took a visit by Deng to a sequence of southern cities in 1992 to revive the programme.

Whereas what turned often called the “Southern Tour” to Guangzhou, Shenzhen, Zhuhai and Shanghai was the turning level within the salvaging course of, the best way had been paved by a sequence of articles below the pseudonym Huang Fuping, revealed within the Shanghai Communist Occasion mouthpiece Liberation Day by day a yr earlier.

Accounts of the origins of the articles have diversified however Liu Ji, former Shanghai deputy propaganda director and a prime adviser to former president Jiang Zemin, has clarified the roles of a number of key gamers and the way Deng crushed criticism of the articles from behind the scenes.

Liu, who had first-hand data of the articles, mentioned Deng was spending the Lunar New Yr vacation in Shanghai in 1991 when he requested then Shanghai get together boss Zhu Rongji to go to the Xijiao Lodge the place he was staying.

“He summoned Zhu Rongji and talked concerning the market financial system and reform. It was a private dialog. It was in-depth and never the official line. It was the true ideas [of Deng] – that’s, if you wish to reform you must introduce a market financial system,” he mentioned.

Liu mentioned Zhu was very excited that Deng confided his ideas to him, and relayed the dialog to his secretary and Shi Zhihong within the automobile on their manner again from the resort.

On the time, Shi was a director within the analysis division within the municipal get together committee, and would later rise to turn out to be a secretary to former vice-president Zeng Qinghong, and an adviser to Xi Jinping, now the nation’s president.

“Shi was additionally very excited and he went to speak to Zhou Ruijin [the party boss] from Liberation Day by day and an editorial author from the newspaper [Ling He],” Liu mentioned.

Over 40 years of diplomatic drama, a rising China opens as much as, and transforms, the world  

The three males mentioned the road of the articles; Ling and Zhou wrote them and chief editor Ding Ximan signed off on them. The three articles had been revealed below the pen identify Huang Fuping in March and April 1991.

The articles challenged the official line on the time that market reform amounted to capitalism and that utilizing overseas funding was jeopardising China’s self-reliance.

Additionally they criticised the “new stagnation of ideas” and charged that China would lose one of the best alternative for financial improvement if it stayed trapped within the ideological debate of capitalism versus communism.

Liu mentioned the articles raised eyebrows amongst political heavyweights in Beijing, and the Shanghai get together committee acquired cellphone calls not solely from Wang Renzhi, the previous propaganda chief, but in addition from then premier Li Peng and get together elder Track Ping. Li and Track had been recognized for his or her conservative stance.

“Track Ping referred to as [then Shanghai deputy party boss] Wu Bangguo and requested if the author had any particular background. Wu mentioned he didn’t assume so, so Beijing media began to criticise the articles,” he mentioned.

The place to now? 40 years after the large financial experiment that modified China

Liu mentioned Zhu and Wu weren’t on good phrases on the time so it was not shocking that Zhu didn’t inform Wu concerning the articles.

The media storm from Beijing continued for a number of months till Liu was in a position to enlist the assistance of Deng’s daughter, Deng Nan.

“I invited her for a meal and I advised her concerning the assaults on Huang Fuping’s articles. I advised her these are the opinions of your father and now we’re criticised. Are you able to inform your father?”

The following day, Deng Nan referred to as Liu Ji for copies of the articles and Liu understood that she would present them to her father, who was by then 87 and had not learn them.

Deng learn the articles, confirmed them to then president Yang Shangkun, and left it to Yang to supply public assist for the content material, in response to Liu.

“So Yang gave an interview to Liberation Day by day. Within the interview, Yang mentioned the articles had been good and so they had been completely in keeping with the spirit of the central management. As soon as he mentioned that, the storm was calmed. Beijing [media] dared not say something and the criticism stopped,” he mentioned.

“Subsequently in China, I consider all reforms and all insurance policies must do with Deng Xiaoping. We wrote so many articles – that was all as a result of we had the assist of Deng Xiaoping,” Liu mentioned.

Zhu was quickly promoted to the central authorities as a vice-premier after which premier.

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Asian mega free-trade deal stalls in Singapore regardless of China’s push towards protectionism – NEWPAPER24




Asian mega free-trade deal stalls in Singapore regardless of China’s push towards protectionism

2018-11-13 13:48:20

China’s try and seal Asia’s greatest commerce deal stalled at a regional summit in Singapore, regardless of Beijing’s efforts to counter American protectionism and the absence of US President Donald Trump.

After a fruitless assembly on Monday, commerce ministers from Asean’s member nations and the bloc’s six dialogue companions – Australia, China, India, Japan, South Korea, and New Zealand – pushed again additional talks on the Regional Complete Financial Partnership (RCEP) till subsequent yr.

The RCEP is proposed free commerce settlement masking the 16 nations and was initially anticipated to be accomplished by the tip of this yr. However obstacles stay, together with India’s reluctance to open up its markets, notably to Chinese language corporations.

Leaders of the 16 nations are anticipated to conform to proceed the talks after they meet on the sidelines of the summit for the Affiliation of Southeast Asian Nations on Wednesday.

Addressing a enterprise discussion board within the metropolis state, Chinese language Premier Li Keqiang mentioned China hoped to conclude the RCEP negotiations subsequent yr, including that the deal would cowl half the world’s inhabitants and account for greater than a 3rd of its GDP.

“With the rise of protectionism and strains on free commerce, we have to advance the RCEP negotiations and an settlement that’s anchored on World Commerce Organisation guidelines,” Li mentioned.

“It’s going to ship actual advantages for the folks of our area. It’s going to ship a message to the worldwide neighborhood that we stand by free commerce and are decided to push it ahead with concrete motion.”

South China Sea: Beijing hopes for maritime accord with Asean neighbours in three years

Indian Commerce Minister Suresh Prabhu mentioned the longer term “lies in RCEP”, however urged a warning and persistence to make sure “each nation will profit from it”.

Amongst these attending Wednesday’s summit shall be Russian President Vladimir Putin, Canadian Prime Minister Justin Trudeau, Indian Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe. Trump shall be represented by US Vice-President Mike Pence.

The RCEP has lengthy been seen as a rival to the Trans-Pacific Partnership, now renamed the Complete Progressive Trans-Pacific Partnership, a commerce deal that was spearheaded by the US till Trump withdrew American involvement final yr.

China’s escalating commerce conflict and geopolitical rivalry with the US has given it added impetus to conclude the RCEP talks, which started in 2013.

The US-China rivalry was on the forefront of the beginning of the Asean summit on Tuesday when Singaporean Prime Minister Lee Hsien Loong expressed concern about member nations being caught up within the tensions.

“These strategic traits of huge energy competitors and shifts towards multilateralism are pulling Asean member states in several instructions,” Lee mentioned.

“Regardless of this, Asean has proven that it’s nonetheless in a position to work collectively and discover frequent floor.”

Trump absent as China pushes free-trade agenda at Asean summit

Malaysian Prime Minister Mahathir Mohamad mentioned the commerce conflict between China and the US would set off a “domino impact” that will have an effect on commerce relations.

‘[Those trade tensions] shall be a purpose for different developed nations to undertake protecting measures towards growing nations, together with Asean nations,” he mentioned. “This isn’t the time to shut our doorways, invoking commerce protectionism measures”.

Analysts mentioned future RCEP talks might be difficult by potential adjustments of presidency in some nations resembling Australia, India, Indonesia and Thailand, the place elections are due subsequent yr.

Simon Tay, chairman of the Singapore Institute of Worldwide Affairs, mentioned: “Lots of the issues don’t lie inside Asean’s management however relate to the relations between bigger nations, like between India and China, which is topic to each commerce and political issues.”

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China’s new inconvenient reality: how a lot lottery cash corrupt officers stole – NEWPAPER24




China’s new inconvenient reality: how a lot lottery cash corrupt officers stole

2018-11-13 13:12:41

“Ever marvel how come you will have by no means received the lottery? As a result of the prize cash has all been pocketed by corrupt officers!”

This was the newest meme making the rounds on China’s social media, as members of the general public demanded that the federal government disclose how a lot cash had been taken in one of many greatest scandals to hit the nation’s fast-growing lottery trade.

On Tuesday the authorities scrambled to disclaim widespread rumours that as a lot as 136 billion yuan (US$19.5 billion) had been embezzled however mentioned it could be “inconvenient” to disclose the true sum – drawing the ire and mockery of web customers.

“Is it inconvenient … as a result of the quantity is even bigger than what the rumours claimed?” learn probably the most favored touch upon the social community Weibo.

Shanghai’s jailed high prosecutor ‘implicates 100 different officers in corruption case’

In mainland China, the official welfare lottery and sports activities lottery are the one types of playing allowed by the Communist Celebration.

With ticket cubicles all around the nation, their mixed gross sales topped 400 billion yuan final yr, making it the world’s second largest lottery market after the US.

However beneath the fast progress, the state-run system is riddled with issues, together with deep-rooted corruption that has prompted the downfall of 4 lottery officers, plus a minister chargeable for oversight.

The scandal first erupted early final yr, when Li Liguo, the then civil affairs minister, was demoted alongside along with his deputy for permitting “systematic corruption” to occur at businesses underneath his watch, which embody the welfare lottery operator.

Two senior officers who had beforehand been answerable for the China Welfare Lottery Administration Centre have been additionally put underneath investigation for bribery, with one other pair later being subjected to the same investigation.

The scandal attracted renewed consideration final week after the nation’s high anti-corruption watchdog, the Central Fee for Self-discipline Inspection (CCDI), launched a video of the 4 lottery officers “confessing” their wrongdoings.

“Corruption within the lottery system has had an enormous, irreparable affect … It’s a sheer catastrophe,” mentioned Feng Lizhi, a former deputy head of the lottery centre, within the video.

The video was performed at a gathering of the Ministry of Civil Affairs final week as a warning and a lesson for cadres, in response to the CCDI.

“The lottery funds are donated cent after cent by consumers. What should hundreds of thousands of lottery consumers suppose when issues happen in its use and administration?” mentioned a graft buster stationed on the ministry.

Chinese language officers face disciplinary motion after ignoring six direct orders from Xi Jinping

In keeping with laws, 50 per cent of the welfare lottery’s whole income from ticket gross sales ought to go to jackpots and prizes.

An extra 35 per cent is earmarked for social welfare initiatives whereas the remaining 15 per cent covers working and administrative prices.

However lax oversight has lengthy been a problem.

In 2015, a nationwide audit checked out what had occurred to 65.eight billion of lottery funds over a three-year interval and located {that a} quarter of that pattern sum had been misappropriated.

The funds have been initially supposed for social welfare initiatives, however ended up getting used for different functions that vary from constructing properties to handing out bonuses.

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