News » Politics » Chinese real estate loans see rapid growth in Q3

News » Politics » Chinese real estate loans see rapid growth in Q3


Chinese real estate loans see rapid growth in Q3

Posted: 25 Oct 2012 05:30 AM PDT

Financial institutions increased lending to the real estate sector in the third quarter as the result of a warming market, statistics from the central bank showed Monday. Financial institutions had 1...

Gov't official's alleged corruption uncovered by netizens

Posted: 25 Oct 2012 05:30 AM PDT

A government official in Guangzhou, capital of China's southern Guangdong province, has been removed from his post after investigators found that his lifestyle, including his ownership of 22 homes, fa...

China's economy has bottomed out, says economists

Posted: 25 Oct 2012 05:26 AM PDT

Digesting recent economic numbers, financial institutions across the globe have reached a general consensus: China's economy has bottomed out. Data released last week by the National Bureau of Statis...

China's military announces major leadership reshuffle

Posted: 25 Oct 2012 04:50 AM PDT

The Chinese Communist Party has announced a major reshuffle of its Central Military Commission ahead of the 18th National Congress next month as seven current members have reached the mandatory retire...

China's military announces major leadership reshuffle

Posted: 25 Oct 2012 03:54 AM PDT

The Chinese Communist Party has announced a major reshuffle of its Central Military Commission ahead of the 18th National Congress next month as seven current members have reached the mandatory retire...

South Korea set to present its own claims in East China Sea

Posted: 25 Oct 2012 03:54 AM PDT

South Korea may become a new party to the disputes between China and Japan in the East China Sea when it submits its formal claim regarding its continental shelf to the United Nations, the Seoul-based...

Beijing's decrees take months to hand down: report

Posted: 25 Oct 2012 03:54 AM PDT

Already green-lit government policies and initiatives in China are taking months to implement due to bureaucratic hurdles, reports Want Daily. An investigation conducted by our sister newspaper has...

Replicas flood China's auctions as art becomes a business

Posted: 25 Oct 2012 03:46 AM PDT

Collecting art has become popular in China, both as a means of enjoying one's wealth and as an investment strategy to protect its value, and the market has reached billions of yuan in transactions eve...

China's cotton reserves swell to 1 million tons

Posted: 25 Oct 2012 03:46 AM PDT

The amount of cotton purchased by the Chinese government has reached 1 million tons as of Oct. 24 — 150 times the amount bought up last year — since the government introduced a cotton collection and...

Chinese Regime Moves to Control Internet during 18th Congress

Posted: 24 Oct 2012 06:48 PM PDT

A young man uses a computer at an Internet bar in Beijing on Sept. 8, 2011. ( Liu Jin/AFP/Getty Images)

A young man uses a computer at an Internet bar in Beijing on Sept. 8, 2011. ( Liu Jin/AFP/Getty Images)

With the 18th Party Congress less than a month away, the Chinese Communist Party (CCP) has started tightening its already severe control over the Internet, while announcing a long string of regulations, including an Internet blockade, in the name of "network security."

The Chinese Ministry of Industry and Information Technology stated that an Internet blockade will be enforced in China as to ensure "the security of the telecommunication network." The blockade will start on Nov. 7, one day before the 18th Party Congress, when a new generation of CCP leaders is sworn in to control the regime for the next decade, and will last till the end.

The talk of network security is actually an excuse for imposing Internet censorship during the Congress says Wu Fan, Chief Editor of China Affairs, an online magazine, in an interview with The Epoch Times.

An Internet blockade aims to curb the spread of any "sensitive" information that may emerge during the 18th Party Congress.

The CCP has already imposed blocks on its domestic Internet before. For instance, during the "mass riots" in China's Xinjiang Province on July 5, 2009, the Chinese regime reportedly severed all Internet and phone services in the region.

Whether such extreme measures are being contemplated in the context of the 18th Party Congress was unclear from official reports.

'Security Measures'

The Ministry of Industry and Information Technology has issued a number of demands for Internet users in China, according to a recent announcement through the media.

Each person will be held accountable for security at every work unit, and all information officers at every level must guarantee they can be reached 24-hours a day, the announcement said. Emergencies must immediately be reported to superiors, it said.

Telecommunication companies are required to be well prepared carry out extensive monitoring of their networks—for what was not made clear.

The announcement says that the intent is not to shut down Internet access or block access to foreign websites, but merely to "guarantee smooth network operation."

Wu Fan, the political analyst, is concerned that enhanced control is actually being sought, and that measures may be implemented as a way of testing the reaction from the public to a various forms of Internet restriction, including even a potential blockade.

The rapid spread of news about social unrest is no doubt driving the Communist Party's anxiety, Wu Fan said.

Read the original Chinese article. 

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Top China Stories from WSJ: Laos Rail Link, State Sectors, Lenovo

Posted: 24 Oct 2012 06:59 PM PDT

For the first time, personal-computer maker Lenovo plans to sell its smartphones outside of China; a top regulator said China would speed up the reform of its railway, postal service and salt industries; China has agreed to finance a $7 billion railway link in Laos.

Chinese, US, Russian agencies set up new credit rating company

Posted: 25 Oct 2012 02:18 AM PDT

Three rating agencies from China, the United States and Russia will jointly launch a new credit rating company to rival current industry leaders and promote independence. It was announced on Wednes...

Companies unlikely to adopt Windows 8 immediately: Acer founder

Posted: 25 Oct 2012 01:58 AM PDT

Most businesses will most likely wait a while before adopting Microsoft's new Windows operating system, scheduled for launch this month, the founder of Taiwanese computer maker Acer said Tuesday. "...

Plans to invest China's pension funds shelved over risks

Posted: 25 Oct 2012 01:58 AM PDT

The Chinese government's plan to allow pension funds to invest in the stock market, aimed at reforming the country's social security scheme, has stalled because of questions raised about the potential...

Website lists Beijing, Shanghai in Asia's most sexually active cities

Posted: 25 Oct 2012 01:58 AM PDT

One of Thailand's largest dating sites, Date Seeker, recently surveyed its 10,000 male users to find out the top 10 most sexually active cities in Asia, which it judged according the number of sexual ...

Back of the class, Samsung: Hubei teacher groups students by cell phone

Posted: 25 Oct 2012 01:58 AM PDT

A college teacher in Hubei, a province in central China, arranged his students to be seated in groups according to the brand of cell phone they owned as part of a class on mobile operating systems. Hi...

Shares of Compal lower on layoff announcement

Posted: 25 Oct 2012 01:58 AM PDT

Shares of Compal Electronics, one of Taiwan's leading contract notebook computer manufacturers, moved lower Wednesday morning after it announced plans to cut more than 100 employees from its tablet co...

Chinese rock musician rallies online support in light of house demolition

Posted: 24 Oct 2012 05:41 PM PDT

A comic of rock musician Zuoxiao Zuzhou holding a megaphone on his roof. /Picture from Weibo.com

Jiangsu, China – Popular rock singer Zuoxiao Zuzhou is fighting against his house demolition in Changzhou, Jiangsu Province with his wife Bian Xiaoli. When Bian posted the entire event online, many celebrities came along to support him defending his home.

On October 23, Zuoxiao Zuzhou said in his Weibo that his townhouse in Changzhou was attacked when his parents, wife and two children were still inside. His neighbors' house were to be demolished on the 24th which will damaged the wall attached to his house. He also wrote to the town mayor of Nanxiashu on his Weibo hoping not to demolish his home.

Bian Xiaoli, Zuoxiao's wife reported their situation early in the morning on October 24th, when a few people began to work on her neighbor's roofs. Bian went on the roof of her own house trying to defend the property. She said her cellphone was smashed by strong men while a police vehicle driving by but didn't stop to help. In addition, many local villagers blocked the road to the village. They assaulted reporters when they tried to enter the village. Some were even taken away by police when they called police for help. Bian said she lost internet connections in the house and was only able to report through her smartphone.

Liu Xiaoyuan, a lawyer who helped the family said that local government of Nanxiashu has illegally occupied their land a year ago. The land requisition was never approved.

Zuoxiao Zuzhou said in his Weibo the whole incident was caused by "local government officials selling illegally occupied land to realtors." The musician has left Beijing for Changzhou to fight for his home.

Zuoxiao Zuzhou is a well-known rock musician and a contemporary artist in China. Many  people were attracted to his happening on Weibo. He said it is much honored to be a Dingzihu (钉子户,a person who refused to vacate from own property ) than a rock star, since the former is more difficult than the latter. FMN/ Report by Jonas Cheng

Dyson accuses Bosch of paying research spy

Posted: 24 Oct 2012 10:25 AM PDT

Company founded by Sir James Dyson claims secrets were passed to Bosch's Chinese motor manufacturer

Dyson has accused its German rival Bosch of paying an employee to steal company secrets from inside its high-security research division.

The maker of the famous bagless vacuum cleaners has filed proceedings at the high court claiming that a member of staff in its advanced motor development team in Malmesbury, Wiltshire, was handing secrets to Bosch for as long as two years. Dyson alleges that the mole was paid via a specially created business.

The company founded by Sir James Dyson claims secrets were passed to Bosch's Chinese motor manufacturer and claimed that Bosch's vice president Dr Wolfgang Hirschburger knew about the alleged spying.

"Dr Hirschburger was aware of the engineer's employment at Dyson. Dyson has confronted Bosch with evidence of wrongdoing but it has refused to return the technology," the company said. "Nor has it promised not to use the technology for its benefit, forcing Dyson to take legal action."

Mark Taylor, Dyson research and development director, said: "We have spent over 15 years and £100m developing high-speed brushless motors, which power our vacuum cleaners and Airblade hand dryers. We are demanding the immediate return of our intellectual property."

Dyson, which claims to sell a vacuum cleaner every 30 seconds in the UK, has a long history of aggressively defending its intellectual property as firms become more wary of imitators.

But Bosch Group, which has its UK headquarters in Middlesex and develops automotive and industrial technology, consumer goods, and building technology, denied the allegations. It said Dyson had taken on someone who already had a contract with a division of Bosch.

"Dyson employed an individual with a pre-existing consultancy agreement with Bosch Lawn and Garden Limited in relation to garden products, and not vacuum cleaners or hand dryers as Dyson implies.

"Bosch has sought to establish the full details of what occurred, including attempting to establish from Dyson what, if any, confidential information supposedly passed between Bosch and Dyson.

"Bosch regrets that Dyson has chosen to issue legal proceedings and a press statement at this stage, but will continue to act in the appropriate way."

Dyson would not comment on when the alleged espionage took place or when it was discovered. "We have security measures in place for exactly this reason", said a spokesman, who refused to say how much the possible leaking of secrets had cost Dyson.

It is not the first time that the British company, which is also famed for its airblade hand-dryers, has taken action against competitors.

In 2010 French courts ruled that TTI's "Dirt Devil" vacuum cleaners, had unfairly copied Dyson's overall look - which is known for its classic grey design enhanced with bright colours. The Dyson Air Multiplier fan has seen around 500 infringements in over 30 countries over the past two years.

Dyson, which employs nearly 4000 people, has also taken a robust stance against Chinese firms. The company worldwide challenged Chinese-owned Vax over the appearance of a product which Dyson felt looked similar to Dyson's DC02 cleaner. In December billionaire inventor Sir James Dyson warned the Chinese government that it risked being expelled from the World Trade Organisation (WTO) over copyright breaches including rip-offs of his inventions. Dyson is pursuing 20 design or patent cases around the world, many of them related to the distribution and sale of products made in China.


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Jiangsu police seized over 6000 guns from illegal workshops

Posted: 24 Oct 2012 04:31 PM PDT

Police in the city of Huai'an in east China's Jiangsu Province announced on October 23 that they have arrested seven people and seized more than 6,000 weapons in a major case involving the illegal manufacture and sale of firearms.

The arrests resulted from a tip received from an Internet user on March 19 alleging that a netizen using the screenname "dahaimoxing" had been selling firearms online by passing them off as replicas of actual weapons.

After confirming that the weapons were capable of injuring people, local police launched an investigation and arrested "dahaimoxing," actually a man surnamed Chen, in the city of Shenyang in northeast China's Liaoning Province in late March.

After examining Chen's computer in an effort to track down his suppliers, police found evidence that a man surnamed Wang had been supplying Chen with the weapons.

Police seized 23 guns at Wang's residence in the city of Shantou in south China's Guangdong Province in April, as well as another 5,400 guns in an abandoned factory that served as a warehouse for Wang.

The investigation then led police to another suspect surnamed Xu who had supplied Wang with weapons. Police found that a criminal organization led by Xu produced about 20,000 weapons from August 2011 to April 2012, earning profits of 1.7 million yuan (about 270,000 U.S. dollars) by selling them.

The investigation is still under way. /China Daily

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