Monthly Archives: October 2011
1. Cover story
2. Economy outlook
3. Financial strategy
4. Legal spotlight
5. Point of interest
7. Remark from editor
Following is President Ma Ying-jeou’s National Day Address in commemorating the Xinhai Revolution Centennial.
A Century of Struggle, a Democratic Taiwan
Legislative Yuan President Wang Jin-pyng, Burkina Faso President Blaise Compaoré, Republic of Guatemala President Álvaro Colom Caballeros, Republic of Nauru President Marcus Stephen, Republic of Palau President Johnson Toribiong and Mrs. Toribiong, Vice Presidents and Prime Ministers of the ROC’s diplomatic allies, delegations from around the world, members of the diplomatic corps and other representatives in the ROC, Vice President Vincent C. Siew, Presidents of the Five Yuan of the ROC, distinguished guests, compatriots from overseas, fellow citizens, journalists, and friends watching television: Continue reading
The Chief Executive, Mr Donald Tsang, has on October 12 tackled some of the city’s most pressing concerns in his final Policy Address of the Third Term Hong Kong Special Administrative Region Government. Providing affordable housing, helping the elderly, enhancing competitiveness and improving living standards were among the main issues addressed in his annual policy blueprint entitled “From Strength to Strength”.
To assist low-income families to buy a home, Mr Tsang announced a new policy for the resumption of the Home Ownership Scheme (HOS). The new scheme will target families with a monthly household income of under $30,000 and will be based on people’s ability to pay. Under the scheme, flats with a saleable floor area of 400 to 500 square feet will be priced in a range of about $1.5 million and $2 million. The Government plans to provide more than 17 000 HOS flats over four years from 2016-17 onwards, with a production rate of between 2 500 to 6 500 flats a year. The first batch of flats is expected to be ready for pre-sale in 2014 or 2015. Continue reading
The Currency Exchange Rate Oversight Reform Act was approved in the U.S. Senate on October 11 by a majority of 63 to 35. The bill calls for retaliatory trade measures against countries that maintain an undervalued currency, and while it does not mention China by name, China is clearly its main target. As such, the bill was also nicknamed China currency bill. Continue reading
On October 14, the opening ceremony of 110th China Import and Export Fair (Canton Fair) and Forum on the 10th Anniversary of China’s Accession to the WTO was held in Guangzhou. Mr. Zhong Shan, Vice Minister of Commerce and Deputy China International Trade Representative attended and delivered a speech themed as “expanding openness, promoting balance and gaining mutual benefits”.
Mr. Zhong pointed out that since its accession to WTO, China has gained benefit from multilateral openness, enjoyed a just and stable external environment and achieved economic and social development in leaps and bounds. China’s development has brought benefit to both world economy and people around the world. China has provided the whole world with an emerging market with unprecedented scale and rapid development and become a new growth pole and stable factor for global economy. Mr. Zhong said that China have participated in all the work of WTO, which contributes to the development of multilateral trade system. During the 12th Five-Year Plan, China will attach importance to both export and import, to both attracting foreign investment and investing overseas, and take the increasing of openness as a new drive for transforming economic development mode. Continue reading
The 5th UNWTO/PATA Forum on Tourism Trends and Outlook, organized by the United Nations World Tourism Organization (UNWTO) and the Pacific Asia Travel Association (PATA), was held in Guilin, China from October 26-28, 2011. Director of Macau Government Tourist Office (MGTO) João Maunel Costa Antunes spoke at the Opening Ceremony of the Forum and delivered closing remarks as the Vice Chairman of PATA.
Also present at the opening ceremony were Mayor of Guilin Municipal People’s Government Li Zhigang, Vice Chairman of the China National Tourism Administration Du Yili, Executive Director of the United Nations World Tourism Organization Frederic Pierret, Director General of the Guangxi Tourism Administration Chen Jianjun and Chair Professor and Dean of the School of Hotel and Tourism Management of the Hong Kong Polytechnic University Kaye Chon. Continue reading
The Supreme People’s Court is the highest judiciary in the country and exercises its right of trial independently. It is also the highest supervising organ over the trial practices of local people’s courts and special people’s courts at various levels. It reports its work to the National People’s Congress and its Standing Committee. The right of appointment and removal of the president and vice presidents as well as members of the trial committee of the Supreme People’s Court lies with the National People’s Congress. The following is the biographical sketch of Wang Shengjun, President of the Supreme People’s Court: Continue reading
On October 11th, the US senate passed the so called China currency bill that calls for retaliatory trade measures against countries that maintain an undervalued currency. The House of Representatives are still considering this bill and the White House is not supportive of this measure in fear of a trade war. Continue reading