The Digital Yuan and China's Potential Financial Revolution
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Tianjin Travel Guide
Tianjin Travel Guide Travel in Tianjin Tianjin (tiān jīn 天津), referred to as "Jin (jīn 津)" for short, is one of the four municipalities directly under the Central Government of China. It is 130 kilometers southeast of Beijing (běi jīng 北京), serving as Beijing's gateway to the Bohai Sea (bó hǎi 渤海). It covers an area of 11,300 square kilometers and there are 13 districts and five counties under its jurisdiction. The total population is 9.52 million. People from urban Tianjin speak Tianjin dialect, which comes under the mandarin subdivision of spoken Chinese. Not only is Tianjin an international harbor and economic center in the north of China, but it is also well-known for its profound historical and cultural heritage. History People started to settle in Tianjin in the Song Dynasty (sòng dài 宋代). By the 15th century it had become a garrison town enclosed by walls. It became a city centered on trade with docks and land transportation and important coastal defenses during the Ming (míng dài 明代) and Qing (qīng dài 清代) dynasties. After the end of the Second Opium War in 1860, Tianjin became a trading port and nine countries, one after the other, established concessions in the city. Historical changes in past 600 years have made Tianjin an unique city with a mixture of ancient and modem in both Chinese and Western styles. After China implemented its reforms and open policies, Tianjin became one of the first coastal cities to open to the outside world. Since then it has developed rapidly and become a bright pearl by the Bohai Sea. -
4 China: Government Policy and Tourism Development
China: Government Policy 4 and Tourism Development Trevor H. B. Sofield Introduction In 2015, according to the China National Tourism Administration (CNTA), China welcomed 133.8 million inbound visitors; it witnessed 130 million outbound trips by its citizens; and more than 4 billion Chinese residents took domestic trips around the country. International arrivals generated almost US$60 billion, outbound tour- ists from China spent an estimated US$229 billion (GfK, 2016), and domestic tour- ism generated ¥(Yuan)3.3 trillion or US$491 billion (CNTA, 2016). By 2020, Beijing anticipates that domestic tourists will spend ¥5.5 trillion yuan a year, more than double the total in 2013, to account for 5 percent of the country’s GDP. In 2014, the combined contribution from all three components of the tourism industry to GDP, covering direct and indirect expenditure and investment, in China was ¥5.8 trillion (US$863 billion), comprising 9.4% of GDP. Government forecasts suggest this figure will rise to ¥11.4 trillion (US$1.7 trillion) by 2025, accounting for 10.3% of GDP (Wang et al., 2016). Few governments in the world have approached tourism development with the same degree of control and coordination as China, and certainly not with outcomes numbering visitation and visitor expenditure in the billions in such a short period of time. In 1949 when Mao Zedong and the Communist Party of China (CCP) achieved complete control over mainland China, his government effectively banned all domestic tourism by making internal movement around the country illegal (CPC officials excepted), tourism development was removed from the package of accept- able development streams as a bourgeoisie activity, and international visitation was a diplomatic tool to showcase the Communist Party’s achievements, that was restricted to a relative handful of ‘friends of China’. -
Chinese Underground Banking and 'Daigou'
Chinese Underground Banking and ‘Daigou’ October 2019 NAC/NECC v1.0 Purpose This document has been compiled by the National Crime Agency’s National Assessment Centre from the latest information available to the NCA regarding the abuse of Chinese Underground Banking and ‘Daigou’ for money laundering purposes. It has been produced to provide supporting information for the application by financial investigators from any force or agency for Account Freezing Orders and other orders and warrants under the Proceeds of Crime Act 2002. It can also be used for any other related purpose. This document is not protectively marked. Executive Summary • The transfer of funds for personal purposes out of China by Chinese citizens is tightly regulated by the Chinese government, and in all but exceptional circumstances is limited to the equivalent of USD 50,000 per year. All such transactions, without exception, are required to be carried out through a foreign exchange account opened with a Chinese bank for the purpose. The regulations nevertheless provide an accessible, legitimate and auditable mechanism for Chinese citizens to transfer funds overseas. • Chinese citizens who, for their own reasons, choose not to use the legitimate route stipulated by the Chinese government for such transactions, frequently use a form of Informal Value Transfer System (IVTS) known as ‘Underground Banking’ to carry them out instead. Evidence suggests that this practice is widespread amongst the Chinese diaspora in the UK. • Evidence from successful money laundering prosecutions in the UK has shown that Chinese Underground Banking is abused for the purposes of laundering money derived from criminal offences, by utilising cash generated from crime in the UK to settle separate and unconnected inward Underground Banking remittances to Chinese citizens in the UK. -
Lu Zhiqiang China Oceanwide
08 Investment.FIN.qxp_Layout 1 14/9/16 12:21 pm Page 81 Week in China China’s Tycoons Investment Lu Zhiqiang China Oceanwide Oceanwide Holdings, its Shenzhen-listed property unit, had a total asset value of Rmb118 billion in 2015. Hurun’s China Rich List He is the key ranked Lu as China’s 8th richest man in 2015 investor behind with a net worth of Rmb83 billlion. Minsheng Bank and Legend Guanxi Holdings A long-term ally of Liu Chuanzhi, who is known as the ‘godfather of Chinese entrepreneurs’, Oceanwide acquired a 29% stake in Legend Holdings (the parent firm of Lenovo) in 2009 from the Chinese Academy of Social Sciences for Rmb2.7 billion. The transaction was symbolic as it marked the dismantling of Legend’s SOE status. Lu and Liu also collaborated to establish the exclusive Taishan Club in 1993, an unofficial association of entrepreneurs named after the most famous mountain in Shandong. Born in Shandong province in 1951, Lu In fact, according to NetEase Finance, it was graduated from the elite Shanghai university during the Taishan Club’s inaugural meeting – Fudan. His first job was as a technician with hosted by Lu in Shandong – that the idea of the Shandong Weifang Diesel Engine Factory. setting up a non-SOE bank was hatched and the proposal was thereafter sent to Zhu Getting started Rongji. The result was the establishment of Lu left the state sector to become an China Minsheng Bank in 1996. entrepreneur and set up China Oceanwide. Initially it focused on education and training, Minsheng takeover? but when the government initiated housing Oceanwide was one of the 59 private sector reform in 1988, Lu moved into real estate. -
The Dawn of the Digital Yuan: China’S Central Bank Digital Currency and Its Implications
The Dawn of the Digital Yuan: China’s Central Bank Digital Currency and Its Implications Mahima Duggal ASIA PAPER June 2021 The Dawn of the Digital Yuan: China’s Central Bank Digital Currency and Its Implications Mahima Duggal © Institute for Security and Development Policy V. Finnbodavägen 2, Stockholm-Nacka, Sweden www.isdp.eu “The Dawn of the Digital Yuan: China’s Central Bank Digital Currency and Its Implications” is an Asia Paper published by the Institute for Security and Development Policy. The Asia Paper Series is the Occasional Paper series of the Institute’s Asia Program, and addresses topical and timely subjects. The Institute is based in Stockholm, Sweden, and cooperates closely with research centers worldwide. The Institute serves a large and diverse community of analysts, scholars, policy-watchers, business leaders, and journalists. It is at the forefront of research on issues of conflict, security, and development. Through its applied research, publications, research cooperation, public lectures, and seminars, it functions as a focal point for academic, policy, and public discussion. No third-party textual or artistic material is included in the publication without the copyright holder’s prior consent to further dissemination by other third parties. Reproduction is authorized provided the source is acknowledged. © ISDP, 2021 Printed in Lithuania ISBN: 978-91-88551-21-4 Distributed in Europe by: Institute for Security and Development Policy Västra Finnbodavägen 2, 131 30 Stockholm-Nacka, Sweden Tel. +46-841056953; Fax. +46-86403370 Email: [email protected] Editorial correspondence should be directed to the address provided above (preferably by email). Contents Summary ............................................................................................................... 5 Introduction ......................................................................................................... -
China's Currency Policy
Updated May 24, 2019 China’s Currency Policy China’s policy of intervening in currency markets to control The yuan-dollar exchange rate has experienced volatility the value of its currency, the renminbi (RMB), against the over the past few years. On August 11, 2015, the Chinese U.S. dollar and other currencies has been of concern for central bank announced that the daily RMB central parity many in Congress over the past decade or so. Some rate would become more “market-oriented,” However, over Members charge that China “manipulates” its currency in the next three days, the RMB depreciated by 4.4% against order to make its exports significantly less expensive, and the dollar and it continued to decline against the dollar its imports more expensive, than would occur if the RMB throughout the rest of 2015 and into 2016. From August were a freely traded currency. Some argue that China’s 2015 to December 2016, the RMB fell by 8.8% against the “undervalued currency” has been a major contributor to the dollar. From January to December 2017, the RMB rose by large annual U.S. merchandise trade deficits with China 4.6% against the dollar. (which totaled $419 billion in 2018) and the decline in U.S. manufacturing jobs. Legislation aimed at addressing Since 2018, the RMB’s value against the dollar has “undervalued” or “misaligned” currencies has been generally trended downward. Many economists contend introduced in several congressional sessions. On May 23, that the RMB’s recent decline has largely been caused by 2019, the U.S. -
Official Colours of Chinese Regimes: a Panchronic Philological Study with Historical Accounts of China
TRAMES, 2012, 16(66/61), 3, 237–285 OFFICIAL COLOURS OF CHINESE REGIMES: A PANCHRONIC PHILOLOGICAL STUDY WITH HISTORICAL ACCOUNTS OF CHINA Jingyi Gao Institute of the Estonian Language, University of Tartu, and Tallinn University Abstract. The paper reports a panchronic philological study on the official colours of Chinese regimes. The historical accounts of the Chinese regimes are introduced. The official colours are summarised with philological references of archaic texts. Remarkably, it has been suggested that the official colours of the most ancient regimes should be the three primitive colours: (1) white-yellow, (2) black-grue yellow, and (3) red-yellow, instead of the simple colours. There were inconsistent historical records on the official colours of the most ancient regimes because the composite colour categories had been split. It has solved the historical problem with the linguistic theory of composite colour categories. Besides, it is concluded how the official colours were determined: At first, the official colour might be naturally determined according to the substance of the ruling population. There might be three groups of people in the Far East. (1) The developed hunter gatherers with livestock preferred the white-yellow colour of milk. (2) The farmers preferred the red-yellow colour of sun and fire. (3) The herders preferred the black-grue-yellow colour of water bodies. Later, after the Han-Chinese consolidation, the official colour could be politically determined according to the main property of the five elements in Sino-metaphysics. The red colour has been predominate in China for many reasons. Keywords: colour symbolism, official colours, national colours, five elements, philology, Chinese history, Chinese language, etymology, basic colour terms DOI: 10.3176/tr.2012.3.03 1. -
On the Renminbi
Revised September 2005 On the Renminbi Jeffrey Frankel Harpel Professor for Capital Formation and Growth Kennedy School of Government, Harvard University CESifo Forum, vol 6, no. 3, Autumn 2005, p. 16-21 Ifo Institute for Economic Research Fixed and flexible exchange rates each have advantages, and a country has the right to choose the regime suited to its circumstances. Nevertheless, several arguments support the view that China should allow its currency to appreciate. (1) China’s economy in 2004 was on the overheating side of internal balance, and appreciation would help easy inflationary pressure. Although this excess demand probably moderated in 2005, the general principle remains: to achieve both internal balance and external balance simultaneously, an economy needs to be able to adjust its real exchange rate as well as its level of spending. (2) Although foreign exchange reserves are a useful shield against currency crises, by now China’s current level is fully adequate, and US treasury securities do not pay a high return. (3) It becomes increasingly difficult to sterilize the inflow over time. (4) Although external balance could be achieved by increasing expenditure, this policy applied by itself might send China back into the inflationary zone of excess demand. (5) A large economy like China can achieve adjustment in the real exchange rate via flexibility in the nominal exchange rate more easily than via price flexibility. (6) The experience of other emerging markets points toward exiting from a peg when times are good and the currency is strong, rather than waiting until times are bad and the currency is under attack. -
The Analysis of the Current Situation and Prospects for Tourism Real Estate in China LIU Lijun , WANG Jing2 , HE Yuanyuan3
2nd International Conference on Science and Social Research (ICSSR 2013) The Analysis of the Current Situation and Prospects for Tourism Real Estate in China LIU Lijun1, a, WANG Jing 2 , HE Yuanyuan 3 Economic and Trade Institute, Shijiazhuang university of economics, P.R. China, 050031 Shijiazhuang University of economics, P.R. China, 050031 Shijiazhuang institute of railway technology ,P.R. China, 050000 a E-mail [email protected] Keywords: Real-estate for tourism. Development. Real-estate. Environment. Abstract . Real-estate for tourism is an extension of timeshare in China market. The real estate and tourism initiative created this new format in terms of economic growth an environmental change. Real-estate for tourism in China has undergone more than two decades of development, in the great achievements made at the same time exposed a lot of problems: Which one is the focus of real-estate for tourism between tourism in and real estate? Is it a simple superposition of the tourism and real estate? What is the difference between this new form of real estate and other property? Taking the advantage of the combinations of theory and practice, quality study and quantity analysis, data collection and field research, this paper gives answers to these questions through analysis of the development of real-estate for tourism in China market. Introduction The early nineteen eighties, tourism industry began to develop in China, especially since the end of last century, the tourism industry as “sunrise industry" by the national advocate energetically, become the new period in our country and a new growth point of national economy. -
Tumor-Associated Inhibition in Vitro Pathway and Resistance of Dendritic Cells to B Canonical Κ Promotes Activation of NF
Chromosome 1 Open Reading Frame 190 Promotes Activation of NF- κB Canonical Pathway and Resistance of Dendritic Cells to Tumor-Associated Inhibition In Vitro This information is current as of September 25, 2021. Zhizi Jing, Xin Yuan, Jing Zhang, Xin Huang, Zhiqian Zhang, Jingyi Liu, Miaomiao Zhang, Jiangbo Oyang, Yuan Zhang, Zhujun Zhang and Rongcun Yang J Immunol 2010; 185:6719-6727; Prepublished online 3 November 2010; Downloaded from doi: 10.4049/jimmunol.0903869 http://www.jimmunol.org/content/185/11/6719 http://www.jimmunol.org/ Supplementary http://www.jimmunol.org/content/suppl/2010/11/03/jimmunol.090386 Material 9.DC1 References This article cites 41 articles, 17 of which you can access for free at: http://www.jimmunol.org/content/185/11/6719.full#ref-list-1 Why The JI? Submit online. by guest on September 25, 2021 • Rapid Reviews! 30 days* from submission to initial decision • No Triage! Every submission reviewed by practicing scientists • Fast Publication! 4 weeks from acceptance to publication *average Subscription Information about subscribing to The Journal of Immunology is online at: http://jimmunol.org/subscription Permissions Submit copyright permission requests at: http://www.aai.org/About/Publications/JI/copyright.html Email Alerts Receive free email-alerts when new articles cite this article. Sign up at: http://jimmunol.org/alerts The Journal of Immunology is published twice each month by The American Association of Immunologists, Inc., 1451 Rockville Pike, Suite 650, Rockville, MD 20852 All rights reserved. Print ISSN: 0022-1767 Online ISSN: 1550-6606. The Journal of Immunology Chromosome 1 Open Reading Frame 190 Promotes Activation of NF-kB Canonical Pathway and Resistance of Dendritic Cells to Tumor-Associated Inhibition In Vitro Zhizi Jing, Xin Yuan, Jing Zhang, Xin Huang, Zhiqian Zhang, Jingyi Liu, Miaomiao Zhang, Jiangbo Oyang, Yuan Zhang, Zhujun Zhang, and Rongcun Yang Tumor-associated dendritic cells (DCs) often induce T cell anergy or deletion and regulatory T cells instead of antitumor immunity. -
Self-Study Syllabus on China’S Domestic Politics
Self-Study Syllabus on China’s domestic politics www.mandarinsociety.org PrefaceAbout this syllabus. syllabus aspires to guide interested non-specialists in Thisthe study of some of the most salient and important aspects of the contemporary Chinese domestic political scene. The recommended readings survey basic features of China’s political system as well as important developments in politics, ideology, and domestic policy under Xi Jinping. Some effort has been made to promote awareness of the broad array of available English language scholarship and analysis. Reflecting the authors’ belief that study of official documents remains a critical skill for the study of Chinese politics, an effort has been made as well to include some of these important sources. This syllabus is organized to build understanding in a step-by-step fashion based on one hour of reading five nights a week for four weeks. We assume at most a passing familiarity with the Chinese political system. The syllabus also provides a glossary of key terms and a list of recommended reading for books and websites for those seeking to engage in deeper study. American Mandarin Society 1 Week One: Building the Foundation The organization, ideology, and political processes of China’s governance • “Chinese Politics Has No Rules, But It May Be Good if Xi Jinping Breaks Them” Overview ,Christopher Johnson, Center for Strategic and International Studies, August 9, 2017. Mr. Johnson argues that the institutionalization of This week’s readings review some of the basic and most distinctive features of China’s Chinese politics was less than many foreign political system. -
The Yu of Yi-Mei and Chang-Wan in Kwangtung,S Xin-Hui Xian
Genealogy and History: The Yu of Yi-mei and Chang-wan in Kwangtung,s Xin-hui xian By L . E ve A r m e n t r o u t M a Chinese / Chinese American History Project, El Cerrito CAt USA A number of reasons have been advanced to explain why formal clan and lineage1 organizations first became widespread in China during the Song dynasty. Among these is the suggestion that the “ new ’, men (many of obscure origins), brought into the bureaucracy by the Song emphasis on the しonfucian examination system, desired to strength en the fabric of society. One means they chose was encouraging the revitalization and extension of clan and lineage organizations. They did tms in order to fill the void created by the decline of the aristocratic (“ great”) families (Twitchett 1959: 100-101). If these assumptions are true, one would expect to find a certain amount of the “ ordinary ” in the genealogies kept by these groups. 1 his was, indeed, often the case. A good example is that of the Yu 余 lineage that I will introduce in this essay. These Yus lived in the villages of Yi-mei 乂美 and Chang-wan 長湾 in Kwangtung’s Xin-hui xian 新会縣. As we shall see, they provide an interesting case study of a lineage that had its brief moment of glory, constructed a genealogy that helped to reflect this moment, and then faded into relative obscurity. In light of what we know about the distribution of wealth and power in the southern Chinese countryside, there must have been thousands of lineages similar to this one.