Xinhua News Roundup
Aggregated Source: China Hearsay
September 29, 2006|
So many interesting news nuggets from Xinhua today. Probably trying to throw everything out there and clean their desks before the holiday starts. Here goes.
1. "China mulls transfer of state-owned shares to national pension fund" -- The National Social Security Fund (NSSF) is in desperate need of funding, no doubt. However, a lot of State-owned Enterprises (SOEs) have been restructured recently to deal with the problem of non-tradeable shares. This was to solve a huge problem that has plagued the domestic stock market and the financial system in general. To then put these tradeable shares in the pension fund may risk further instability in a system designed to bring back some peace of mind for seniors. Sounds like a bad move.
2. "China to export Xinjiang pears to U.S. after 13-year negotiations" -- Trade protectionism? A simple difference of opinion on quarantine regulations? Who knows. These things take a long time iron out, hmm? Remember this the next time some politician is asking China to make rapid changes to their economy or trading rules.
3. "McDonald's opens more Drive-Thru in China" -- A little Chinglish in the title there, but rest assured, there are multiple drive-thrus here now. Just what we need is another incentive for people to use their cars. I have walked home from the office several times this week because of traffic congestion. Mind you, this is around 7:30 - 8:00pm.
4. "Former lawmaker executed in NE China for corruption" -- Not another corruption story! Yes, but a nice juicy one. This guy was not only corrupt, they got him for "bribery, misappropriation of funds, rape, illegal possession of weapons, organized crime and organizing prostitution." That's an impressive resume.
5. "One-child policy "will not change" -- Last, but certainly not least, a story about population control. Policymaking in this area was much easier, comparatively speaking, when China had a young population and no developed economy. Things are much more difficult now that the population control policy has worked and the country is faced with an aging population and a social security problem. Welcome to the developed world and its fun problems.
1. "China mulls transfer of state-owned shares to national pension fund" -- The National Social Security Fund (NSSF) is in desperate need of funding, no doubt. However, a lot of State-owned Enterprises (SOEs) have been restructured recently to deal with the problem of non-tradeable shares. This was to solve a huge problem that has plagued the domestic stock market and the financial system in general. To then put these tradeable shares in the pension fund may risk further instability in a system designed to bring back some peace of mind for seniors. Sounds like a bad move.
2. "China to export Xinjiang pears to U.S. after 13-year negotiations" -- Trade protectionism? A simple difference of opinion on quarantine regulations? Who knows. These things take a long time iron out, hmm? Remember this the next time some politician is asking China to make rapid changes to their economy or trading rules.
3. "McDonald's opens more Drive-Thru in China" -- A little Chinglish in the title there, but rest assured, there are multiple drive-thrus here now. Just what we need is another incentive for people to use their cars. I have walked home from the office several times this week because of traffic congestion. Mind you, this is around 7:30 - 8:00pm.
4. "Former lawmaker executed in NE China for corruption" -- Not another corruption story! Yes, but a nice juicy one. This guy was not only corrupt, they got him for "bribery, misappropriation of funds, rape, illegal possession of weapons, organized crime and organizing prostitution." That's an impressive resume.
5. "One-child policy "will not change" -- Last, but certainly not least, a story about population control. Policymaking in this area was much easier, comparatively speaking, when China had a young population and no developed economy. Things are much more difficult now that the population control policy has worked and the country is faced with an aging population and a social security problem. Welcome to the developed world and its fun problems.
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