THE ESSENTIAL EIGHT
1. U.S., China appear to get little done in removing economic barriers | Reuters so what are the big “deliverables” for Xi’s visit in September? // The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meeting that was overshadowed by security rivalries.
Related: China Agrees to Limit Currency Interventions, Jacob Lew Says – WSJ China has committed to limiting its currency interventions to moves countering damaging swings in exchange rates, U.S. Treasury Secretary Jacob Lew said Wednesday after high-level talks with top officials visiting from Beijing. The commitment, agreed upon in the annual round of U.S.-China Strategic and Economic Dialogue negotiations, narrows the conditions under which China says it would be willing to manage the value of the yuan.
Related: Commentary: Focus on common interests conducive to better China-U.S. ties – Xinhua As everyone knows, territorial disputes in the South China Sea have never impeded the free passage of vessels, let alone key shipping lanes there. And China, as a major trading nation in the region, has more reasons than any other to maintain navigation freedom on the South China Sea. The United States, which is not a claimant to the South China Sea disputes, should stop its lopsided approach of exerting pressure on China while pampering other claimants like Vietnam and the Philippines. But that does not mean Beijing will not welcome a constructive role by Washington in Asia, since Chinese President Xi Jinping made it clear that the Asia-Pacific is vast enough to accommodate both countries. A smooth development of China-U.S. ties is a boon not only for the two countries, but for the whole world, and any serious setback in their relations will be a cause for worldwide concern. It is hoped that Washington is on the same page with Beijing in building a new type of relationship between major countries which features win-win cooperation and mutual respect, instead of confrontation and zero-sum games.
2. 央行主管报纸刊文：本月或已无降息降准可能 PBoC’s newspaper says likely no chance of rate or RRR cuts this month // 《金融时报》专家组成员、国际金融问题专家赵庆明也表示，可能近期不会有大动作，本月已无降息、降准可能，央行可能会继续观察前期政策措施的效果。
3. China to scrap commercial banks’ loan-to-deposit ratio | Reuters The removal of the restriction will “strengthen ability of financial institutions to lend more to the agriculture sector and small businesses”, the State Council said in an online statement. Analysts said shares in Chinese banks, including top lenders Industrial and Commercial Bank of China Ltd , China Construction Bank Corp , Agricultural Bank of China Ltd and Bank of China Ltd , would likely rise as a result. As China steps up its financial reforms, its central bank has cut interest rates three times in the last seven months in a bid to lower borrowing costs, while giving banks more flexibility over how much they pay depositors, which has hit bank earnings as lenders face competitive pressure to pay more for deposits.
Related: 取消贷存比影响几何金融频道财新网 执行20年的法定监管指标存贷比被正式取消，弱化为监测指标。分析师认为，存贷比取消基本符合市场预期，因受制于贷款规模等其他约束，未有放水之效，但有利于降低银行存款成本等
4. Allies in Asia Welcome U.S. Progress on Trade Deal – The New York Times China, which is not among the 12 nations negotiating the deal and had proposed a competing agreement, refrained from criticizing the vote. For Mr. Obama, the deal, which appeared headed toward passage on Wednesday, represents an important element of the so-called pivot to Asia to help maintain United States influence as countries grow increasingly dependent on trade with China. For American allies, it offers the political cover to commit to trade concessions, removing the risk that Congress might reject the negotiated deal.
5. Children of Migrant Parents Left Alone to Die-Caixin “Increasing numbers of rural people are leaving home for a better life,” said Wu Zhihui, director of the Rural Education Institution at Beijing Normal University. “But their children are being sacrificed.” Indeed, according to the government-backed advocacy group All-China Women’s Federation, more than 61 million children in rural areas nationwide were growing up without parents in 2013. That figure represented a more than 150 percent increase from 2010. Not only do these children lack parental protection and love, but some experts say youngsters who live in these kinds of divided families often suffer adverse psychological effects.
6. Second woman PLA major general under corruption investigation | South China Morning Post PLA major general Dong Youxin, 54, who is deputy director of the Information Department of the PLA’s General Staff Department and a vice-president of the All-China Women’s Federation, was detained by the military’s anti-graft watchdog for allegedly taking 7 million yuan (HK$8.86 million) in bribes, one of the sources said….A source close to the Jinan military area command said that both Dong and Gao were seen as members of the PLA’s “Henan Gang”, allegedly led by General Jia Tingan…”If the top anti-graft watchdog dares to investigate Jia, the former secretary of ex-president Jiang Zemin, that means they’re going to root out all of Jiang’s influence in the army.”
7. 人民日报任理轩：认识把握共产党执政规律的新飞跃–一论协调推进“四个全面”战略布局 任理轩-人民网 another sign the Four comprehensives is going to be Xi’s contribution to the theoretical pantheon? this from page 7 of today’s People’s Daily, the first in a series of four articles. My grad school advisor says “任理轩” is likely a pseudonym for the People’s Daily’s Theory Department // 党的十八大以来，以习近平同志为总书记的党中央立足我国发展的现实需要，回应人民群众对美好生活的热切期待，根据共产党执政规律、社会主义建设规律、人类社会发展规律，擘划执政兴国的宏伟蓝图，形成并提出了协调推进“四个全面”战略布局。协调推进“四个全面”战略布局，是实现国家富强、民族振兴、人民幸福的战略布局，实现了我们党治国理政方略的与时俱进，实现了我们党治国理政思想的新飞跃。为深入宣传阐述协调推进“四个全面”战略布局，我们于近日集中推出一组4篇“任理轩”文章，分别为《认识把握共产党执政规律的新飞跃》《认识把握社会主义建设规律的新飞跃》《认识把握人类社会发展规律的新飞跃》《党治国理政思想的新飞跃》，从“三大规律”入手，集中展示协调推进“四个全面”战略布局创造性运用“三大规律”在思想理论上取得的新成果新发展。今日刊登第一篇，敬请关注。——编 者
8. How to Save the U.S.-China Relationship – Evan Osnos -The New Yorker Even after four decades, American officials are sometimes startled when Chinese counterparts pose basic questions about American governance. A senior official told me recently, “That clearly expresses a kind of curiosity, along the lines of, ‘How does it really work here?’ Which you can read as a heartening curiosity about the other guy, and what that means for the possibility of interactions down the road.” But, he added, “It’s also frightening, given the possibility of conflict.” We are entering a more dangerous era, in which neither side can afford to misread the other. // And the US knows even less about Chinese decision-making now…One issue that needs to be addressed in all the talk about the future of the US-China relationship is what if Beijing really believes that the US is in terminal decline and so will see any of the suggested accommodations as just signs of US weakness and proof of the belief that the US is in decline?
BUSINESS, ECONOMY AND TRADE
China creates leading group for enhancing manufacturing prowess – Xinhua The State Council, China’s cabinet, will set up a leading group for its ambitious plan to enhance manufacturing prowess and change the reputation of “Made in China” goods. The group, led by vice premier Ma Kai, will coordinate, deliberate and implement plans for becoming a world manufacturing power, according to a statement published on the government website. The group will be headquartered in the Ministry of Industry and Information Technology, the statement said.
In China Buyout Boom, One Man Stakes Claim as King of Rainmakers – Bloomberg Business Neil Shen, the billionaire co-founder of Sequoia Capital China, is leading the charge among venture capitalists and private equity firms to scoop up companies listed in the U.S. and ultimately take them public in the mainland, where a surging stock market means shares are being afforded higher multiples. Shen and Sequoia have targeted at least five companies for takeovers this month. // how is Sequoia valuing any stakes that get transferred from its USD funds to its RMB funds, and how might the USD fund LPs feel about these deals?
Cabinet cuts insurance rates to relieve employers’ burden – Xinhua From Oct. 1, the average insurance rate for employment injuries will go down from 1 percent to 0.75 percent, said a statement released after an executive meeting of the State Council, presided over by Premier Li Keqiang. The top rate for birth insurance will go down from 1 percent to 0.5 percent. The measures are expected to save 27 billion yuan (4.43 billion U.S. dollars) for employers, the statement said.
国务院部署”互联网＋”行动 为经济转型创业创新注活力-新华网 新华网北京６月２４日电（记者于佳欣、高亢）２４日召开的国务院常务会议通过了《“互联网＋”行动指导意见》，提出具体措施推动互联网与各行业深度融合。专家认为，这顺应了时代发展趋势，有利于促进大众创业、万众创新，加快促进形成经济发展新动能。
光大银行逆向操作 提高配资杠杆金融频道财新网 光大银行逆向操作，提高了部分客户的配资比例。这种判断，不仅仅来自光大银行对市场短期波动的判断，也基于银行对未来实体经济走势的体查。但中国经济是否已经企稳回升，市场观点并不一致
中财办主任刘鹤获孙冶方奖 被视作中国核心智囊新闻腾讯网 Liu He wins Sun Zhifang economics prize
Rally resumed, or dead cat bounce? – FT.com Gavekal Dragonomics suggests that rather than a crash, there could be a rotation into the laggards of recent months, in particular banks. Banks and a couple of property companies are the only dual-listed stocks priced similarly in both Hong Kong and China (the average dual-listed stock is a quarter higher on the mainland). Logic suggests a shift. But logic had little to do with China’s market boom, and is unlikely to have much to do with the eventual bust.
Alibaba’s Jack Ma Buys $23 Million Property in New York’s Adirondacks – WSJ Jack Ma, the Chinese billionaire and co-founder of e-commerce giant Alibaba, has quietly made a new acquisition: a 28,100-acre property boasting trout streams, woodlands and a maple-syrup operation in New York’s Adirondacks. Mr. Ma paid $23 million for the sprawling upstate New York property, which he bought principally for conservation purposes, but also plans to use as an occasional personal retreat, according to a spokesman…Brandon Park // so will the Ausable Club let him join?
POLITICS AND LAW
China mulls cyber security law – Xinhua The draft law was submitted to lawmakers for its first reading at the bimonthly session of the National People’s Congress (NPC) Standing Committee which runs from Wednesday to July 1. The law aims at “safeguarding cyberspace sovereignty and national security,” according to the draft. Cyber security has become an important issue concerning national security and development as well as public interests, said Lang Sheng, deputy head of the Legislative Affairs Commission of the NPC Standing Committee, at the session. The 68-article draft law suggests mechanisms to guarantee the safety of Internet products and services, operation, network data, as well as information.
抹黑英雄恶搞历史成网络公害–时政–人民网 近日，《亲历者讲述刘胡兰的真挚恋情》一文走红网络，通过实地走访刘胡兰生前当事人，讲述烈士生前身后事，澄清历史、揭示真相、以正视听。这既揭露了网络博文《在武力胁迫下，乡亲们颤抖着，铡死了刘胡兰》的造假，也是对网上抹黑英雄、歪曲历史现象的一次有力回击。 在互联网丛林中，历史虚无主义悄悄披上了摩登的外衣，罔顾事实质疑一切，恶搞戏说颠覆主流：黄继光堵枪眼不合理，刘胡兰系被乡亲所杀，雷锋日记全是造假，狼牙山五壮士其实是土匪……这些现象是网络恶搞文化的一个缩影，却从深层次反映出一些网民价值观的缺失与精神信仰的迷失。- 《 人民日报 》（ 2015年06月25日 23 版）
State Council Invites Public to Help Review Its Policies-Caixin The central government says it wants the public to help it review and update some of the policies put in place by the State Council since the People’s Republic was founded. From June 16 to 25, individuals can visit the government’s website, www.gov.cn, to review and comment on 54 policies and regulations in fields ranging from education and employment to food safety and environmental protection, the cabinet said. Those policies were enacted from 1985 to 2013. The comments would be used to help experts at the State Council clean up outdated regulations and rewrite those needing updating, the cabinet said.
Bomb attack in restive Xinjiang and police response kill at least 18: Radio Free Asia | Reuters Ethnic Uighurs attacked police with knives and bombs at a traffic checkpoint in China’s far western Xinjiang region, Radio Free Asia reported on Wednesday, and at least 18 people were killed. The attack occurred at the beginning of the Muslim fasting month of Ramadan on Monday in the southern city of Kashgar, where tensions between Muslim Uighurs that call the region home and the majority Han Chinese have led to bloodshed in recent years.
党报刊文：文艺界缺少对人民的真诚投入，影视作品充斥肥皂剧舆论场澎湃新闻-The Paper 文艺创作在当前呈现的“有高原缺高峰”的现状引起文艺批评者重视。 6月25日，人民日报刊文批评当前文艺界缺少对人民真诚投入：影视作品充斥着虚假肥皂剧、无休止的宫廷戏，综艺节目里各种无底线的娱乐、闹剧般的狂欢，即便是严肃艺术创作也是平庸、低俗、雷同。文章指出，好的文艺创作应该是有筋骨、有道德、有温度的文艺作品，是对历史虚无主义的排斥，是对虚假情感的批判，是对脱离现实的鞭挞。
德州原副市长跳楼详情:被纪委人员堵在办公室|王敏|黄金忠|反腐_新浪新闻 Caijing has details on the arrest and attempted suicide of former Dezhou, Shandong mayor Huang Jinzhong // 6月23日，山东省纪委发布消息称，德州市原副市长黄金忠涉嫌违纪违法，决定开除其党籍和公职。此前4月26日，黄金忠曾从德州市政府办公楼内跳下而受伤。 山东省政界多位权威消息源对《财经》记者表示，黄金忠涉山东省委原常委、济南市委原书记王敏案，其跳楼是得知自己被调查时的“畏罪行为”。
FOREIGN AND DEFENSE AFFAIRS
China set to bolster space security, nuclear capacity: Draft law – Xinhua Chinese lawmakers are mulling the inclusion of security of China’s activities and assets in space, on the international sea bed and in polar regions in a draft law, the latest move to improve the legal framework protecting national security. The draft national security law — tabled for a third reading on Wednesday by the top legislature, the National People’s Congress (NPC) Standing Committee, — said China would “peacefully explore and exploit outer space, international sea bed areas and polar regions”. The country will build entry and exit security, develop scientific capacity, enhance international cooperation, and safeguard activity and asset security on “new strategic frontiers”, it read.
China’s New Military Strategy: “Winning Informationized Local Wars” | The Jamestown Foundation In China’s approach to military affairs, the military strategic guideline represents China’s national military strategy. It provides authoritative guidance from the Central Military Commission (CMC) of the Chinese Communist Party (CCP) for all aspects of the People’s Liberation Army’s (PLA) combat-related activities. Since the establishment of the People’s Republic in 1949, China has issued eight strategic guidelines (军事战略方针). The 2015 Defense White Paper reveals that a ninth change has occurred (Xinhua, May 26). The new guidelines shift the goal of China’s military strategy from “winning local wars under the conditions of informationization” to “winning informationized local wars.” The change in the strategic guidelines reflects an evolution of the existing strategy, not a dramatic departure.
“北斗少帅”王飞雪 – 中国军网 敢于创新，敢于挑战，敢于攻坚——王飞雪用血性与智慧屡屡证明，他无愧于同事送给他的“北斗少帅”的美誉。他说：“在事关国家安全利益的高科技领域，核心技术买不来，也引不进，除了自主创新，别无他路。要拥有自主知识产权的核心关键技术，就得拿出舍我其谁、时不我待的满腔热血，用超常的努力去赶超。” 北斗导航卫星工程系统建设初期曾遇到一个技术瓶颈，国内专家屡屡攻关都无法突破。刚读博士的王飞雪与雍少为、欧钢等同学另辟蹊径，创造性地拿出“全数字化快速捕获信号与传输技术方案”，有专家断言这是“根本不可能实现”的方案。但经过3年不懈拼搏，难题成功破解。这一年，王飞雪只有27岁。
What the West should know about Xi Jinping, China’s most powerful leader since Mao-Jonathan Fenby If he faces a choice between economic modernisation and party control, Xi is likely to choose protecting the second – in line with his condemnation of the Gorbachev experiment in the Soviet Union – as he steps forward as the strongman who defends the PRC’s Leninist form of bureaucratic state capitalism. But that in turn would cramp the development and modernisation necessary to perpetuate the Communist Party’s claim to rule. Such contradictions will shape China in the coming decade and, given the country’s global impact, will weigh heavily on the world. // We will find out…I don’t think Xi believes this is a contradiction that can not be managed…perhaps his apparent renewed focus on dialectical materialism helps him sleep at night instead of agonizing over this? Overall this is a useful, long piece, occasional hyperbole like this aside: “After being abolished officially in 2002, class warfare has reappeared as a mantra in state media, along with Mao’s “mass line” – to ensure conformity under the leadership “…If you want to understand the “mass line” under Xi, which has had nothing to do with the masses or Maoist mass movements, read this from Alice Miller. As for the “reappearance” of “class warfare”, what party publications besides CASS newspaper and Red Flag Manuscript have had any serious (and very infrequent) discussions of “taking class struggle as the key link”?
“中国崩溃论”：西方的意识形态武器 commentator in latest Red Flag Manuscript says the “China Collapse Theory” is a western ideological weapon // 历经30余年的改革开放，中国已经成为现实国际体系的推动者和建设者，亦有意与西方发达国家达致良性互动，成为这些国家的伙伴而非对手。然而，面对中国的和平崛起，西方还是对中国采取了遏制策略。但在选择遏制中国的路径时，他们已不再更多采用20世纪中后期对中国经济、政治和军事的“刚性遏制”政策。因为，对中国的“刚性遏制”，只能强化中国的独立自主和反西方倾向，无助于达到其 “教化”中国的目的。“刚性遏制”的低效，促使西方摒弃以往咄咄逼人的“攻势”战略，转而选择“柔性”策略。在意识形态领域制造关于中国的妖魔性话语，就是西方遏制中国策略之首选。而“中国崩溃论”就是西方意识形态妖魔化中国的话语载体之一。
Melbourne suburbs property packages China-style: house, land and a visa International property expos in China’s main cities of Beijing, Shanghai and Guangzhou are filling up with Australian developers and middlemen, vying for cashed-up Chinese investors. Many make misleading claims about converting Australian property into the ‘PR’ prize. Almost all, including JLF, have teams of lawyers, immigration agents and bank lenders who play on the desire of mainland Chinese investors to plan for their kids, escape the poor air quality and diversify their assets in the face of growing economic uncertainty, especially in the property market. President Xi Jinping’s anti-corruption campaign is accelerating the search abroad.
TECH AND MEDIA
Alibaba Pictures Goes Hollywood with Stake in ‘Mission: Impossible’ Movie | Alizila Through the investment, the financial details of which were not disclosed, Alibaba Pictures will become an official partner responsible for promoting the big-budget franchise film in China, using Alibaba Group’s giant shopping websites and extensive e-commerce ecosystem to sell tickets and movie-related merchandise to hundreds of millions of Chinese moviegoers, the companies said.
Aliyun Data Center in HK Suffers 14-Hour Disruption-Caixin A data center in Hong Kong that is part of Alibaba Group Holding Ltd.’s cloud computing Aliyun arm suffered a 14-hour disruption on June 21, and then gave different explanations for the problem. Some of Aliyun’s corporate clients began to notice they could not access their data about 9:30 a.m. Aliyun then said on Sina Weibo, China’s answer to Twitter, that the problem was due to a power outage. However, Aliyun later told clients that the disruption was the result of a severed Internet cable running between Hong Kong and the mainland. When clients asked if there was only one cable connection, it said the problem was related to a power outage. It is unclear why Aliyun provided the differing explanations.
一个媒体人谈白岩松的对与错|警察|白岩松|媒体人_新浪新闻 quite the controversy over Bai Yansong’s remarks about the death in line of duty f two cops..His show went on “hiatus” this week
The upstarts that challenge the power in Beijing – FT.com One must assume that, if push came to shove, the authorities could cripple even the biggest private company. Yet so embedded are the likes of Alibaba and Baidu in people’s lives that even the mighty Communist party might have cause to pause. // More that the Communist Party has had cause to totally co-opt them and effectively control them without actually owning them
SOCIETY, ART, SPORTS, CULTURE AND HISTORY
String of youth violence cases shocks nation – China Daily A string of violent incidents involving minors has caused many people to question whether more attention should be given to the moral, rather than academic, development of China’s youth. A video posted online on Sunday allegedly shows several teenagers burning a first-grade boy with cigarettes in Qingyuan County in east China’s Zhejiang Province. In the clip, which lasts more than two minutes, Xiaomao (not his real name), who is no more than six years old, is tied up and can be heard screaming while a group of teenagers take turns to beat him up.
Wanda poised to buy 3 more sports firms – China Daily Dalian Wanda Group Co Ltd, the Chinese property giant, will buy at least three more sports companies this year as it continues on its quest to become a leader in the global sports industry. Wang Jianlin, its chairman, told Xinhua News Agency that he expects to announce a major acquisition very soon that would be “good news” for Chinese soccer, without giving further details.
毛泽东外孙王效芝等红军后代出席四渡赤水80周年纪念活动中国政库澎湃新闻-The Paper 6月24日，长征四渡赤水80周年纪念活动在四川古蔺举行， 毛泽东和朱德等革命家后代出席。 据中国日报网消息，6月24日，红军长征四渡赤水战役胜利80周年纪念活动，在四川古蔺县举行。毛泽东主席外孙王效芝、朱德元帅外孙刘建，陈毅元帅之子陈昊苏、罗荣桓元帅之子罗东进、陈赓大将之子陈知庶等红军后代出席活动。
ENERGY, ENVIRONMENT, SCIENCE AND HEALTH
China’s ‘Green Angel’: in memory of Ye Weijia | Ray Cheung – China Dialogue Aged just 62, businessman and activist Ye Weijia passed away in Beijing on June 14 from sudden heart failure. He is survived by wife Li Lailai and son Ye Dingzi. For the last decade, Weija relentlessly promoted sustainable economic development in China through the small non-governmental organisation he led, Dao Institute of Environment and Development (Dao IED). Under his leadership, the NGO established partnerships with international and Chinese organisations that educated hundreds of elementary school children in the tenets of environmental stewardship and trained up-and-coming Chinese environmental leaders.
福建宁德一项目公众满意度涉造假 环评机构称不负责国内新京报网 该项目的环评报告出具方称，应福建省环保厅的要求，就报道进行说明，表示保证名单真实有效是企业的责任，企业是不是造假，与环评机构无关。而对于将涉嫌造假的数据用到环评正式报告里是不是会损害报告的公信力，该负责人表示：“这个不需要你关心。”
“疯狂的”南红玛瑙：私挖盗采成风 生态严重破坏深度新京报网 南红玛瑙六年间身价上涨数百倍，改变了一批追逐者的命运。倒卖玛瑙的商人，完成了原始资本积累；在深山中挖掘南红的彝人，很多放弃了祖辈耕种的农田，有些人暴富，有些仍在为生计发愁；暴富的人染上毒瘾，挖矿的人命丧土石。他们只在意暴利，并不在乎对环境生态的破坏，被挖出的巨坑，随着渐渐降低的地平面，呈现在眼前。
人民大学将大幅缩减兼职博导 部分省部级官员在列国内新京报网 今天上午，中国人民大学就全面深化博士生教育综合改革召开发布会，人民大学校长助理吴晓求介绍，既要大幅缩减在职博士生录取比例，又要大幅减掉兼职博导人数。吴晓求证实，部分担任人大兼职博导的省部级官员也在缩减范围内。
FOOD AND TRAVEL
In China, Stomachs Turn at News of Traders Peddling 40-Year-Old Meat – The New York Times The Chinese news media announced that the authorities had seized nearly half a billion dollars’ worth of smuggled frozen meat this month across China, some of it dating to the 1970s. The caches of beef, pork and chicken wings, worth up to 3 billion renminbi, or $483 million, were discovered in a nationwide crackdown that spanned 14 provinces and regions, the state news agency Xinhua reported.
经济参考网 – 京津冀产业转移税收利益破藩篱 迁入迁出地三大税种五五分成 年均缴纳“三税”逾2000万元企业纳入分享范围
Beijing marks 3,060-year-old city history – Xinhua Beijing first took shape during the Shang Dynasty (16th-11th century B.C.), however, excavations indicate that the city was founded in 1,045 B.C., as the capital of Yan. Liulihe Town in Fangshan District in Beijing’s southwest, was the capital of Yan.
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