China says to rein in local debt, push financial reform | Reuters.
Category Archives: General
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Shenzhen to Hike Minimum Wage Levels | China Briefing News
Chinese public holidays in 2014
Dates of Chinese holidays in 2014 according to state council publication:
1. Unified schedule for public holidays and festivals, 2014, year of the horse
2. Public holidays and festivals for all people
New Year, one day holiday (January 1);
First Day of the year of the horse is January 31st, 2014;
Spring Festival Holiday, Chinese New Year, three days holiday (First three days according to the lunar calendar); (Jan 31 to FEB 2);
Ching Ming Festival, one day holiday (Lunar Qingming day); (Apr 5);
Labor Day, one day holiday; (May 1);
Dragon Boat Festival, one day holiday (Lunar Dragon Boat Festival day); (Mai 31);
Mid-Autumn Festival, one day holiday (Lunar Mid-day); (SEP 8);
National Day, three day holiday (October 1, 2, 3);
3. Special public holidays and festivals for specific groups of the population
Women’s Day, half-day holiday for women; (March 8);
Youth Day, half-day holiday for the youth over 14 years of age; (May 4);
Children’s Day, one-day holiday for children under 14 years of age; (June 1);
People’s Liberation Army Day, half-day holiday for soldier in active duty; (August 1);
4. Minority festivals or holidays will be fixed according to local customs;
5. All other holidays or festivals are not public holiday in 2014
6. If a public holiday (section 2) falls on a Sunday or Saturday, it should be compensated by a day-off on a normal work day. This rule does not apply for special public holiday (section 3)
7. These rule come into affect on the day of publication
Original publication by the State Council:
http://www.gov.cn/zwgk/2013-12/11/content_2546227.htm
Annual Central Economic Work Conference (CEWC)
The CEWC is part of the annual policy cycle, following on the Politburo meeting earlier this month.
The CEWC issued a statement emphasizing the need for stability, stability of economic reform and macroeconomic policy.
The statement mentions several areas of reform, but does not give much detail. However the need to resolve the overcapacity problem gets more attention than before.
6 key tasks a mentioned for 2014:
Food security; industrial structure (including overcapacity problem); dept risk prevention; coordinated regional development; to protect and improve the people’s livelihood; continuously improve the openness of economy.
China expands VAT reform to 2 new sectors – Xinhua | English.news.cn
Claims in the East China Sea – I guess it is time to talk
Interesting illustration:
Overlapping Airspace Claims in the East China Sea – Graphic – NYTimes.com.
Investors eye reform effects |Editorials |chinadaily.com.cn
The Third Plenum of the 18th Central Committee of the Communist Party produced the first policy and reform blueprint of the new Chinese leadership, it is a pledge to deepen reform and strengthen the role of the free market.
Though the announcements so far are lacking detail and any short term changes will be limited. Change in all areas covered by this third plenum will be introduced gradually and only if proven successful.
Xi JinPing steals the show
Chinese President Xi JinPing and Secretary of State John F. Kerry were selling their nations at the summit in Bali. Xi stressed the need for a peaceful region which would be good for business. But Secretary of State John F. Kerry countered, “Every entrepreneur and business in the Asia Pacific needs to know that they can reap the benefits when they develop the next big thing,”.1
Xi, in his relatively low key speech only made references at the territorial disputes and the role of the United States. But China rightly points at the fact that the US shifted its focus to the region without backing it with the appropriate resources.
Xi was also recently touring the region, signing bi-lateral agreements in Indonesia and Malaysia, preparing the way for direct investments and economic cooperation. China is clearly gaining influence in the region and is committed to its political and economic goals. Time for the US and EU to wake up before it is too late.
1: washingtonpost.com; By Anne Gearan, Published: October 8
Global firms facing human resources challenges in Asia|Economy|chinadaily.com.cn
China’s Outbound Direct Investment (ODI) is going to ASEAN countries
China’s outbound direct investment reached a record high of $87.8 billion in 2012, making it the world’s third-largest outward investor during the period. [xinhua]
In 2013, China continues to seek opportunities around the world and especially Asia. The population in south-east asia is growing fast, infrastructure projects will offer opportunities for investments and cooperation. It comes at no surprise that China and its neighbours seek to lift bilateral ties under the new circumstances.
Cooperation between China and the ASEAN countries holds great potential. President Xi JinPing visited Jakarta last week and then continued to Malaysia. Meeting with top level officials in Indonesia and Malaysia to strengthen cooperation and investments in those countries and the region.
Also Chinese Premier Li Keqiang left Beijing on Wednesday morning to attend the East Asia leaders meetings and pay official visits to Brunei, Thailand and Vietnam from October 9 to 15.