Xiamen University shaping up to be the largest foreign university campus in Malaysia

 Xiamen University Malaysia Campus

Video: First ever Chinese overseas campus opens in Kuala Lumpur

CCTV News – CCTV.com English http://english.cctv.com/2016/09/23/VIDEQAcbMXh1wwYcpf2mzJGF160923.shtml#.V-S9c6xl6C4.twitter

In Malaysian capital Kuala Lumpur, students have this week been enrolling at the first Chinese university to open a campus overseas.

Officials feel it is more than just an educational ventune, it is also a way to advance good relations between China and its southeast Asian neighbors, as well as promoting the inclusive Belt & Road initiative.

A specially chartered Xiamen Airlines plane brought this special, first group of students to Kuala Lumpur. In all, 440 students from 14 Chinese provinces will be arriving this week to take their places at the emerging new campus of Xiamen University in Malaysia. They all scored top marks in China’s university entry exams and chose to be part of this pioneering educational venture.

“In terms of the quality, in terms of the size of the batch of students, and in terms of the procedures, this is unprecedented in terms of Malaysia’s tertiary education history. So it’s really a big day for us too,” said Professor Wang Ruifang President, Xiamen University Malaysia.

A specially chartered Xiamen Airlines plane brought this special, first batch of students to Kuala Lumpur.

A specially chartered Xiamen Airlines plane brought this special, first batch of students to Kuala Lumpur.

It’s also a big day for the students.

“First is excited, because it’s an opportunity for me to develop, and it’s an opportunity for me to enjoy the cultural diversity,” said Zhu Wen, student, Xiamen University Malaysia.

The Chinese students will join students from Malaysia and later around South East Asia. Numbers will eventually swell to 10,000 at what is shaping up to be the largest foreign university campus in Malaysia. All courses will be taught in English, except for Chinese studies and Traditional Chinese Medicine.

At a recent meeting with Southeast Asian leaders, Chinese premier Li Keqiang said China wants to strengthen its relationship with ASEAN in a number of key areas, including people to people ties, and in particular, education.

The university says it hopes to advance that aim as well as China’s One Belt, One Road initiative, something the Chinese students are well aware of.

“The Malaysia campus is based on China’s Belt and Road initiative so I think to come to the Malaysia campus is to put our hands on the ark of history and combine historical process and our personal development together,” said Wu Hanyang, student.

A lofty goal, perhaps, but in keeping with what this campus is really about: Meeting the highest academic standards while helping China and ASEAN deepen their social, cultural, strategic and economic cooperation.

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Tiangong-2 space lab draws global praise, with the world’s first “cold” atomic clock on board

NASA closely watches Tiangong-2 launch

  •  NASA closely watches Tiangong-2 launch. The space industry has paid close attention as China sent the Tiangong-2 lab into space. NASA is watching the Tiangong-2, as well as China’s space program in general. It says the launch marks another step on China’s long march to a permanent orbital outpost. Former…


    China on Thursday hurled its first Tiangong-2 lab into space, marking another step forward in the country’s plans to establish a permanent station by the early 2020s.

    China’s rapid development in space exploration within the past decade has impressed the world. Martin Barstow, director of Leicester Institute of Space & Earth Observation at the University of Leicester, told Xinhua in a recent interview that China’s developing space program is another major milestone towards establishing a permanent presence in space.

    “The earlier success of the first space station (Tiangong-1) shows how the program is developing and the new space laboratory will continue to add to China’s status as a major space power,” the professor said.

    Former NASA astronaut Leroy Chiao, the first Chinese-American to be commander of the International Space Station, hailed Tiangong-2 as “another significant step for China’s human spaceflight program.”

    “China is moving in a very deliberate and orderly fashion to advance their space capability,” Chiao said. “I think the technology is good, and they are moving to get more operational experience through TG-2, before the beginning of space station construction.”

    Barstow also spoke highly of China’s space capability, saying “China is already a key player in the international space industry,” and Tiangong-2 will “enhance” its well-developed space capability.

    Gao Yang, director of Surrey Technology for Autonomous Systems and Robotics (STAR) Lab, said manned spaceflight is of indicative significance in space technology, and China’s rapid development in this area is well-known.

    British Broadcasting Corporation (BBC) said in an article published on Thursday that “Beijing has made space exploration a national priority and is the third country, after the Soviet Union and the U.S., to put astronauts into space.”


    In different interviews Xinhua carried with space experts, all mentioned the need for international cooperation in space exploration. Space station programs have always been a cradle for countries to work together, Gao said.

    Such collaboration has been vividly reflected in the Tiangong-2 mission, which carries, among a number of scientific experiments, an astrophysics detector that is the first space-science experiment built jointly by China with European countries.

    POLAR, dedicated to establishing whether the photons from Gama ray bursts (GRBs) — thought to be a particularly energetic type of stellar explosion — are polarized, was built largely with Swiss funding, and with the collaboration of Swiss, China and Polish scientists and support from the European Space Agency (ESA), according to the British journal Nature.

    POLAR project manager Nicolas Produit, who spoke to Nature, said U.S. law bars NASA from doing joint projects with China’s space agencies, but the Chinese Academy of Sciences is discussing a number of other collaborative space projects with the ESA.

    Gregory Kulacki, senior analyst and China project manager at the U.S.-based Union of Concerned Scientists’ Global Security Program, said that it is encouraging that China intends to solicit international participation in its space station project.

    “My hope is that the United States and China will, at an appropriate time in the future, find a way to cooperate in the peaceful exploration of space instead of competing to turn it into a battlefield, as they are now,” he said.

    Chiao said international coperation is “a common point of interest that helps improve overall relationships. The International Space Station is a great example of that. Many nations came together to build the amazing facility, and we are working together to further science. This helps to improve overall relations between the member countries.”

    Barstow believed that more and more countries are seeing the importance of space activity but this will not turn into a race. He said that to benefit smaller economies, a growth of space activity across the world will need to be nurtured by the major agencies like ESA, NASA, the Russian Federal Space Agency (Roscomos) and China National Space Administration (CNSA).


    China has been actively developing a three-step manned space program since the first decade of the 21st century.

    The program’s first mission took place in 1999 with the launch of the Shenzhou-1 to examine the performance and reliability of the launcher and verify key technologies relating to capsule connection and separation, heat prevention, control and landing.

    The first step, to send an astronaut into space and return safely, was fulfilled by Yang Liwei in the Shenzhou-5 mission in 2003.

    The second step was developing advanced space flight techniques and technologies including extra-vehicular activity and orbital docking. This phase also includes the launch of two space laboratories — effectively mini space-stations that can be manned on a temporary basis.

    The next step will be to assemble and operate a permanent manned space station.

    China will begin building a space station that is more economically efficient and uses more data than the current International Space Station (ISS), starting as early as 2017, chief engineer of China’s manned space program Zhou Jianping told Xinhua on Thursday.

    With the ISS set to retire in 2024, the Chinese space station will offer a promising alternative, and it will make China the only country to have a permanent space station after the  ISS. -Xinhua

    China launched first ‘cold’ atomic clock aboard second space station

    Every clock on Earth is flawed. Even science’s most accurate atomic clocks are beholden to our planet’s gravitational pull, and end up slowing down ever so slightly over time. That’s why researchers from Shanghai decided to send one up into space.

    On Sept. 15, Chinese researchers launched a cold atomic clock into orbit around Earth, where it will only slow down by one second every billion years, as opposed to every 300 million years like the current gold-standard of atomic clocks. The Cold Atomic Clock in Space (Cacs), as it is called, will likely become humanity’s most accurate timekeeping device.

    Atomic clocks are largely used for calibrating extremely sensitive electronics, like global positioning systems (GPS), or conducting experiments in hyper accuracy-dependent disciplines like particle physics and geology. According to the South China Morning Post, the Chinese government intends to use Cacs to improve their own national GPS, which currently operates at levels below the system employed by the US.

    Atomic clocks were originally created to run on the exact measure of a second as agreed upon by the entire scientific community. Seconds used to be measured as a tiny fraction of a day. The trouble is, the average day includes a lot of variation, depending on where you are and the earth’s axial wobble, caused by its magnetic poles and, more recently, melting ice sheets.

    Scientists realized that the way that electrons (the tiny negatively charged particles that surround atoms) jump back and forth between different energy states in molecules or atoms, was a much more precise way of calculating a second. These oscillations end up appearing like vibrations that occur at a constant rate—as long as molecules or atoms are at a constant temperature. Since 1967, the official definition of a second has been “9,192,631,770 vibrations of a cesium 133 atom.”

    Laser-cooled “cold” atomic clocks are generally considered to be the most accurate clocks that exist—other clocks and watches, like the kind anyone could buy in a store, tend to slow down over time. Although it’s often just a couple of seconds, that inconsistency won’t do in a research setting.

    But alas, on Earth, even cold atomic clocks are prone to slowing down ever so slightly. Because of the force Earth’s gravity applies to atoms, the National Institute of Standards and Technology’s NIST-F2 atomic clock in Boulder, Colorado will slow down by a second every 300 million years.

    Cacs, which will orbit our planet gravity-free, will use rubidium atom vibrations to keep time, and will slow down much more slowly than Earth-bound atomic clocks. It’s also a lot smaller—about the size of the trunk of a car, whereas the NIST-F2 takes up an entire room.

    Cacs was sent into space on the second Chinese space laboratory, called Tiangong-2, launched from Jiuquan Satellite Launch Centre in Inner Mongolia. Although there are currently no humans aboard, the China National Space Administration plans to send two astronauts to the lab in October to conduct various experiments for a month, as the next step towards launching a full-fledged space station in 2020. – Quartz @ qz.com

    China launched its second space station, Tiangong-2, from Jiuquan Satellite Launch Center in northwestern China’s Gobi desert on Thursday with the world’s first “cold” atomic clock on board – representing a pivotal step in China’s plan to become a major player in the modern-day space race.

    Two astronauts are set arrive at the station in October where they will spend one month completing experiments. Running the Cold Atomic Clock in Space, one of 14 different experiments planned for the station’s two-year orbital stint, aims to determine if escaping the effects of gravity increases the accuracy of the timepiece.

    “It is the world’s first cold atomic clock to operate in space … it will have military and civilian applications,” Professor Xu Zhen, a scientist involved with the atomic clock project, told the South China Morning Post.

    China to launch world’s first ‘cold’ atomic clock in space … and it’ll stay …

    http://www.scmp.com › News › China South China Morning Post

    Atomic clocks, some of which are so accurate that it would take billions of years to drift off by even a second, are used to conduct sensitive experiments across a variety of scientific fields and calibrate electronics used by global positioning systems.

    To keep time, these clocks rely on measuring the natural vibration rates of atoms and the scientific definition of a second: 9,192,631,770 vibrations of a cesium 133 atom. China’s cold clock will use a laser to slow down the atom and thus lessen the likelihood of the timekeeper missing one of the atom’s rotations and introducing an error, according to the South China Morning Post.

    Additionally China hopes that sending the cold clock into space and freeing the timekeeping atoms from their ties to gravity will make it more accurate than other atomic clocks currently keeping time around the world and make it capable of measuring fluctuations in microgravity.

    The station will serve as a laboratory for a variety of experiments across scientific disciplines that China expects to culminate in launching its own equivalent of the International Space Station (ISS).

    “The launch of Tiangong-2 will lay a solid foundation for the building and operation of a permanent space station in the future,” Wu Ping, deputy director of China’s manned space engineering office, said during a prelaunch briefing, according to Xinhua.

    China is not a member of the international consortium that operates the ISS (and isn’t allowed to send its astronauts to the station), so it is planning to build its own permanent space station, which at an estimated 60 tons will be 380 tons lighter than the ISS.

    China’s president, Xi Jinpin called on engineers and scientists to help advance the Chinese space program at a Space Day celebration earlier this year.

    “In establishing Space Day, we are commemorating history, passing on the spirit, and galvanising popular enthusiasm for science, exploration of the unknown and innovation, particularly among young people,” Xi said at the celebration, according to The Economic Times. “Becoming an aerospace power has always been a dream we’ve been striving for.”

    China’s ambitious goals for space exploration in the coming years include plans to study the yet-unexplored dark side of the moon, and a mission to Mars that will not only orbit the Red Planet, but land and deploy a rover. Both missions are scheduled to launch in 2020.

    Dean Cheng, a Chinese space policy expert at the Heritage Foundation in Washington D.C., told New Scientist that Thursday’s launch is about national pride – “a reminder that China has a manned space program, including the ability to put its own astronauts into space, something the Americans cannot do [without assistance from Russia].” – Source: Christian Science Monitor

    Astronauts given comfort upgrade on China’s new space lab


    New space lab will be equipped with Bluetooth, better lighting, sound dampening, exercise equipment and other features

    China’s newest space laboratory, Tiangong II, will provide more comfortable digs to astronauts living aboard than its predecessor, Tiangong I, the spacecraft’s designers said.

    Zhu Zongpeng, chief designer of Tiangong II at China Academy of Space Technology, said designers aimed to create an astronaut-friendly environment in every regard when they refitted the space lab that was developed based on Tiangong I.

    “We considered many factors including the sound, lighting, inner decorations as well as support facilities. For instance, we installed a foldable, multifunctional table that can be used for dining and experiments. We also equipped the astronauts with Bluetooth headsets and Bluetooth speakers,” he said.

    “A number of particulars were taken into account-the carpet in Tiangong I was replaced with floorboards. The light is softer and its brightness can be adjusted. Each astronaut has a bed lamp,” Zhu added.

  • Astronauts given comfort upgrade on China's new space lab
    space lab Tiangong II roars into the air on the back of a Long March-2F
    rocket from the Jiuquan Satellite Launch Center in Northwest China,
    Sept 15, 2016. [Photo/Xinhua]


    The Tiangong II consists of two cabins with separate functions-the experiment cabin will be hermetically sealed and will act as the astronauts’ living quarters, while the resource cabin will contain solar panels, storage batteries, propellant and engines.

    Liao Jianlin, a senior engineer at the academy who took part in Tiangong II’s development, said the lab has about 15 square meters for astronauts to live and work, including a separate sleep section and waste storage area.

    He said engineers installed muffler devices in the spacecraft to ensure its inner sound is kept under 50 decibels. Environmental controls will keep the temperature within the experiment cabin between 22 C and 24 C and the humidity between 45 and 55 percent.

    In addition, Tiangong II has an air detector capable of checking for and dealing with more than 20 hazardous gases and microbes.

    Furthermore, designers placed exercise equipment in the space lab such as a treadmill, exercise bike and acupuncture point massager to help astronauts keep healthy, according to Liao.

    He said its communications systems also allow astronauts to receive and reply to emails and make calls to family and friends.

  • Astronauts given comfort upgrade on China's new space lab 

    Space lab to cross five-year mark.

    China’s space lab Tiangong-2 may serve for more than five years and co-exist with its first space station, scheduled for completion around 2020, an expert at the space programme said.

    China successfully launched Tiangong-2 on a Long March-2F T2 rocket, blasting off from Jiuquan Satellite Launch Centre in the northwest Gobi Desert on Thursday.

    With a designed life of two years, Tiangong-2 was originally built as a backup to Tiangong-1, which completed its mission in March, said Zhu Congpeng, chief designer of Tiangong-2.

    “But we expect Tiangong-2 to serve for more than five years given the introduction of an in-orbit propellant technique for the first time,” Zhu said.

    In April 2017, China’s first cargo spaceship Tianzhou-1 will be sent into orbit to dock with the space lab, providing fuel and other supplies.

    “If the fuel-supply experiment goes well, we will become the second after Russia to master the in-orbit propellant technique,” Zhu said.

    While in space, the 8.6-tonne space lab will manoeuvre itself into orbit about 393km above Earth surface.

    “As it is higher than past space missions, the Tiangong-2 will be more cost-effective and have a longer lifespan,” said Zhu. — Xinhua

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N. Korea nuclear test short of strategic deterrent, blame it on THAAD




North Korea’s official media announced today the country had successfully conducted a nuclear test, confirming international media reports that Pyongyang had carried out its fifth nuclear test. A 5.0-magnitude earthquake in North Korea was detected by overseas monitoring services. South Korea claims the explosion was equivalent to about 10,000 tons of TNT, the most powerful one North Korea has tested thus far.

Today’s test happened only eight months after the claimed hydrogen bomb test of January, the shortest time span between any two previous tests. Two weeks ago, North Korea conducted a submarine-launched ballistic missile test, and a few days ago it launched three missiles.

Pyongyang seems to be set to intimidate the US and South Korea, who are exerting more military pressure. It is also trying to force the international community to abandon their efforts to seek a nuclear-free Korean Peninsula. But the efforts only drew a backlash. It has created anger and embarrassment, but unlikely to scare the outside world. The other five countries of the Six-Party Talks, which are now in a deadlock, are unlikely to make concessions.

North Korea should bear in mind that nuclear weapons are only a strategic deterrent tool and cannot be resorted to. North Korea has scarce resources and its economy is limited, therefore, even if it has the ability to make nuclear bombs, the number of its nuclear arsenal would be small, so it could not reach the minimum threshold of a global nuclear power. Its nuclear capability would pale in comparison with the nuclear prowess of the US. The US believes if North Korea uses nuclear weapons first, it would lead to its destruction. North Korea is not capable of ensuring an effective strike-back after being hit by a nuclear weapon. Several factors combined, North Korea cannot build a nuclear deterrent in the traditional sense.

Look at how much Pyongyang has sacrificed to develop nuclear weapons. It has become the world’s most isolated country. It is suffering from extreme economic difficulties and sees no hope of getting out of trouble any time soon. No North Korean leader has visited China in the past few years. Its top leader diplomacy is almost zero. Owning nuclear weapons appears to have added a strategic tool for North Korea. But the severance of diplomatic channels means the “growth in national strength” cannot transform to influence.

Northeast Asia is in a mess. The THAAD issue has led to a stalemate between China and the US-South Korea alliance. North Korea is taking advantage of this, hastening its nuclear tests. Seoul believes the new North Korean tests make it more necessary for the US to deploy the THAAD missile system.

They are all wrong. What they are doing will only drag Northeast Asia into deeper chaos. The Korean Peninsula will become an even more dangerous powder keg.

Owning nuclear weapons won’t ensure North Korea’s political security. On the contrary, it is poison that is slowly suffocating the country. It is turning into a country possibly with one or two nuclear bombs but nothing else – no prosperity, no opening up, no confidence in national security. Pyongyang will have to always be on alert.

North Korea has not become any stronger because of its fifth nuclear test. The Korean Peninsula nuclear issue knot has merely tightened.

It’s North Korea’s national day on Friday. We understand how eager the country wants to boost morale and enhance national cohesion. But the nuclear weapon that’s more like a firework for the North Korean people may well become one that signals a new crisis. We sincerely hope North Korea is aware of the situation and open to advice. Global Times

Blame DPRK’s fifth nuke test on THAAD

Democratic People’s Republic of Korea said on Friday, its 68th National Day, that it “successfully” tested a nuclear warhead in the morning. This is the fifth nuclear test conducted by Pyongyang since 2006 and the second this year. The DPRK only on Wednesday rejected a UN Security Council statement condemning its latest missile tests and threatened to take “further significant measures”.

China’s Ministry of Foreign Affairs has issued a statement censuring Friday’s nuclear test and urging the DPRK to meet its denuclearization commitments.

In the Republic of Korea, the presidential office reportedly held a National Security Council meeting on Friday afternoon after “a seismic event” of magnitude 5.3 was detected near the DPRK’s northeastern nuclear test site.

The nuclear test carried out by the DPRK on Friday should not come as a big surprise given the planned deployment of the US’ Terminal High Altitude Area Defense system in the ROK. In other words, the almost confirmed deployment of THAAD, an anti-missile defense system, has prompted Pyongyang to continue its ill-designed foreign policy.

Judging by its latest nuclear test, the DPRK still stands firm on its strategic misreading, believing that by developing nuclear weapons it will pressure the United States to respond to its concerns. That also explains why the DPRK has conducted missile tests this year even though THAAD might not necessarily pose a major threat to it.

Besides, a nuclear test on the 68th National Day of the DPRK also has a noteworthy political implication – that top leader Kim Jong-un will keep expanding the country’s nuclear arsenal.

But it does not suggest the situation on the Korean Peninsula is out of control, because Pyongyang’s nuclear efforts usually follow US and ROK military moves.

China is determined to divert this trajectory toward a peaceful direction. But admittedly, China’s strategic choices in the face of a rising nuclear threat in the neighborhood are limited because of the geopolitical complexity and the denuclearization process may take five to 10 years to complete. So Beijing has been urging all parties concerned to make more concerted efforts to becalm the ensuing turbulence.

Washington and Seoul, in particular, should sincerely rethink their decision to install THAAD on the peninsula and review their other strategic mistakes that have prompted Pyongyang to make the wrong steps.

A vicious cycle is in the making between the US and the ROK on one side and the DPRK on the other, which can make peaceful reunification of the peninsula even more unlikely. In fact, if tensions continue to rise on the peninsula, the DPRK and the ROK will eventually be the worst victims.

The peninsula policies adopted by the US and the ROK are not conducive to lasting peace, as they have exhausted the very few opportunities to replace the 1953 armistice with a peace treaty.

As US President Barack Obama will leave office in four months and his ROK counterpart Park Geun-hye faces a presidential election next year, there is hope their successors (if there is one in the ROK) would make a difference and forge a permanent peace and security mechanism with China.

The author is a researcher in Asia-Pacific strategy at the Chinese Academy of Social Sciences. The article is an excerpt from his interview with China Daily’s Cui Shoufeng.

By Wang Junsheng (China Daily)

The author is a researcher in Asia-Pacific strategy at the Chinese Academy of Social Sciences. The article is an excerpt from his interview with China Daily’s Cui Shoufeng.

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G20 2016 concludes with multiple victories; China puts its stamp on global governance





     China’s multiple victories from G20 summit

    The Hangzhou G20 summit concluded Monday afternoon. China as host of the summit has garnered more global attention. China’s careful organization has maximized the efficiency of the meeting, with abundant results achieved. While world opinion was reserved about the role of the G20 platform in the future, the Hangzhou summit has undoubtedly consolidated its status in global governance.

    From China’s perspective, the summit is more successful. China’s situation, its ideas and stance have all been shown to the world. It has opened the door to comprehensive communication between China and the outside world.

    Chinese President Xi Jinping met with his US and Russian counterparts respectively, which bears significance for global strategy. The summit also offered a chance for Sino-Japanese and Sino-South Korean ties, both of which are at a low ebb currently.

    China has gained a great deal of soft power through the meeting. As a rising power, China’s unique system has been seen by Western media as its first identity. Some in the media were more interested in seeing China make mistakes as a host than expecting fruitful results of the summit. It turned out that the summit went smoothly and was a crowd-pleaser.

    The US Defense Intelligence Agency tweeted a New York Times article about the G20 and wrote, “Classy as always China” to its 83,000 followers. It later deleted the tweet and made an apology. The act only shamed the agency.

    The way China hosts international conferences indeed differs from the West, but so what? The Hangzhou G20 meeting has further enhanced China’s confidence.

    The world is diverse, and China does not need to feel shy about displaying its cultural characteristics or care about what the West thinks.

    Many countries are simply shouting out slogans, while China is dedicated to actions. Picturesque Hangzhou becomes more beautiful after hosting the G20. Despite some criticisms, its positive impact will long be enjoyed by Hangzhou residents and domestic travelers.

    China has encountered some controversies and challenges during its hosting of the G20 summit, but now they are all gone. This is a valuable process for China as it conveys the meaning of being a major power.

    As long as we are firm and dedicated, we will be confident that even if there are some errors, we can be at ease about it.

    During China’s rise, we will keep changing our understanding of success and become more skilled in coping with the West. Development still tops the agenda. Rapid development is the biggest parameter for China to win respect and discourse power, and how the West sees us is one of the least important factors.

    We also got to know what world unity is. China should make contributions to unite the world. The Hangzhou G20 summit proves that China has such capabilities and doing so suits our interests. – Global Times

China puts its stamp on global governance at G20 Summit

The ceremonies, handshakes, meetings and speeches, banquets and performances of this year’s G20 Summit have now come to an end.

In fact, they ended on Monday after the leaders of the world’s 20 major economies met in Hangzhou, East China’s Zhejiang province, and a long list of agreements were signed. Check details of the final communiqué

But these were not the be-all and end-all of the 2016 G20, as it is likely to have a lasting legacy in international relations, with China leaving its stamp on the G20 as a mechanism to coordinate future actions by the world’s leading economies.

China’s contribution to the 2016 G20 has been significant in two ways.

First, China has demonstrated unswerving commitment to globalization, more specifically to defending free trade and cross-border investment and business cooperation, despite the fact that it can no longer easily increase its own exports by relying on low-cost labor, and that many processing operations formerly based in China have relocated elsewhere.

Amid growing calls for protectionism worldwide, pessimism about the future, and fear of sharing opportunities with foreigners, China understands that it must set an example by working with other countries to defend the existing global market system.

Just as President Xi Jinping told the delegates at the Business 20, a sideline session of the G20 Summit, on Saturday, rather than overturning the existing system, what China wants is to expand the global market system, to make it include more nations, more workers and more entrepreneurs.

China has also cautioned against attempts to seek self-protection, and politically defined small-circle games, since they tend to rewrite the rules for the global system and worsen the problems plaguing the world economy. On Sunday, Xi again called on the G20 members to continue to promote the liberalization and facilitation of trade and investment.

Second, China’s contribution has also been significant in the way the G20’s agenda has been aligned with the long-term goals and programs set out by the United Nations. China has contributed substantial content to affect this, including its efforts to nurture cooperation among the emerging market economies and inviting more leaders from developing nations to participate in the G20 process, as well as the proposal for a common e-commerce platform for small and medium-sized enterprises across the world.

To brave the rough waters of the world economy and start a new journey for future global growth, the G20 should not only help the world coordinate efforts to deal with emergencies, as was its original purpose following the onset of the global financial crisis, it should also focus on long-term governance. It should address both the symptoms and root causes of the world’s economic problems with real actions, so as to spread opportunities where there are few or none.

In anti-globalization, anger and divisiveness hold sway. Globalization, on the other hand, requires people from different countries to exchange views, compare notes and learn from one another.

However, the G20 members can do more than just talk. They can generate more trade and cross-border investment deals, showcase more innovations, provide more services, and extend help to more poor people and under-developed nations. In the process, the G20 can become more important by finding “a direction and a course for the world economy with a strategic vision”, as Xi has urged. In this way it can help realize people’s common aspirations for sustainable, balanced and inclusive growth. – China Daily


Beijing’s prescriptions may sound too good to be executable at this point, but not if the G20 members, as Xi called for, “work with real action with no empty talk”.

Remarks by H.E. Xi Jinping President of the People’s Republic of China At the Closing Ceremony of the G20 Hangzhou Summit

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G20 summit recognizes China’s success, a historic starting point for the world, expert said

MOSCOW: The fact that the G20 summit will be held in Hangzhou, China, reflects the global recognition of and respect for China’s giant economic success, a leading Russian economic expert has said.

“The international community admits that China has become a major economic power, which largely determines the economic development of the whole world,” Vyacheslav Kholodkov, head of the International Economic Organisa­tions Department at the Russian Institute for Strategic Studies, told Xinhua.

As the second-largest economy of the world, China has a strong impact over global economic processes, the economist said, adding that the performance of China’s stock markets and its import of energy resources exert a powerful influence on world markets.

Kholodkov also expressed the belief that the Western media today have exaggerated and distorted the existing problems with the Chinese economy.

“China’s economic success is like a thorn on the side of many Western politicians and journalists, because it shows that there are other more successful models besides the Western liberal economic model,” the expert noted.

In his opinion, the current problems plaguing China were those of structural adjustments and shifts in economic development pattern.

If previously China’s development had been driven mainly by exports, it is now shifting from an export-oriented development model to focusing on domestic demand, Kholodkov said.

Kholodkov saw “nothing dramatic” in such a development, as other countries that experienced similar problems have survived such transitional periods.

China’s GDP grew by 6.9% last year, a rate to be envied by many countries, according to Kholod­kov.

China presents an example for many developing countries, including Russia, which are closely watching China’s experiences and following some of its trends in their political practices, he concluded. — China Daily/Asia News Network

Summit can be historic starting point for the world

The Austria-born American management philosopher Peter Drucker once attributed the absence of right-wing fanaticism in North America to the self-organizational ability of society, represented, first of all, by the thousands of well-managed business enterprises.

That point should be appreciated today, when, eight years after the 2008 global financial crisis, all major economic powers still cannot guarantee a sustainable recovery for the world.

The annual meeting of the G20 bears witness to the shared will and joint efforts of the leading developed and developing economies in the world. All countries have so far remained steadfast in their agreement to hold a defensive line for the globalist agenda. There has not been a full-scale trade war and competitive currency depreciations-at least not yet.

The global financial crisis has cast a very long shadow, with growing income inequality in many places and corporations holding onto their capital instead of investing, and judging from the rising protectionism, along with some ideologically-charged rhetoric, from various political forces, there are some who seem willing to set back or spoil the globalization process.

A genuine “mass flourishing” of businesses is needed to help the world both stay on the course of globalization and avoid the malaise that caused the last crisis.

That is why the G20 created, alongside its annual summit, a business leaders’ meeting, called the Business 20. That is also why the G20 needs not just a business leaders’ meeting, but also a distilled vision of common concerns and necessary actions, which is what President Xi Jinping delivered in his keynote speech at the B20 Summit on Saturday.

Drucker proposed that long-range planning does not deal with future decisions, but with the future of present decisions. In his speech Xi urged all parties to prescribe remedies to the world’s economic problems and explore new sources of growth and expand the space for development.

The foreign guests can see for themselves through Hangzhou, the host city of the G20 and B20 summits, how China has become a leader of growth, as the city is home to many new businesses and new management models.

As Xi said it is an unprecedented achievement for a country with such a large population to realize modernization. The more businesses are created, the more they spread from developed to under-developed areas. In the process, obsolete industries are phased out and new ones emerge, jobs are created, and cities such as Hangzhou become vibrant.

The same process can also prove true elsewhere in the world. – (China Daily)/ANN

China plays a key role in setting G20 agenda

The G20 summit meets against the backdrop of two interrelated global issues.First,since the international financial crisis global growth has been slow. Second, asa result social and geopolitical crises have persisted. China’s proposals for the G20 summit – an innovative, invigorated, interconnected and inclusive economy –simultaneously and in an integrated way address both issues.

China’s four proposals are inseparably connected:

Innovation, in technology and in management, logistics, skills and ideas, is indispensable for sustained economic development.

But innovation purely in ideas is insufficient to lead to sustained economic development. Advances in ICT technology, for example, had to be embodied in investment in internet and computer technologyto produce productivity gains. Therefore, the global economy must be invigorated through increased investment, new trade liberalisation agreements, new financial institutions such as the Asian Infrastructure Investment Bank (AIIB) and modifications in global economic governance. This requires drawing on numerous resources in global economy and finance.

Development is most powerful if internationally integrated. Since Adam Smith founded modern economics it has been known that the most powerful force developing productivity is division of labour, which in a globalised economy necessarily includes international division of labour.Retreats into protectionism deeply damage the world economy. But advancing international division of labour requires not only legal trade and investment agreements but development of internationally integrated infrastructure making such trade possible and supporting international investment. Such integration highlights the importance of China’s ‘One Belt, One Road’initiative,while China supports economic integration in Africa, Latin America, Europe and elsewhere.

Development must be inclusive both between and within countries.Failure of sections of the world’s population to benefit from economic development is dangerous politically. Impoverishment of sections of the population and social disintegration has led to terrorist organisations gaining support, andin some cases open warfare, in parts of Africa and the Middle East. Within advanced economies failure of parts of the population to gain from economic growth strengthens protectionist and xenophobic forces which threaten global economic integration and therefore global prosperity.

Success in developing innovative, invigorated, interconnected and inclusive economic growth will therefore lessen geopolitical and social tensions.

China is in an unequalled position to give leadership on this G20 agenda not only theoretically but due to China’s practical achievements in dealing both with the international financial crisis and over the longer term.From 2007, the last year before the financial crisis, to 2015 China accounted for 46% of world growth measured at current exchange rates – compared to 22% for the second placed US.China was the world economy’s most powerful engine to face the international financial crisis, benefitting both advanced and developing economies.

World Bank data shows 83% of the world’s population still lives in developing countries. Economic development therefore remains the most pressing issue facing humanity. China, the world’s largest developing economy, increased its per capita GDP, the fundamental index of economic development, from 2007 to 2015 by 86% – the fastest of any G20 country.

China playsa key G20 agenda setting role because, in addition to these shorter term anti-crisis trends, China’s historical economic and social achievements are unprecedented.From 1978 onwards China experienced the most rapid economic growth in a major economy in human history. China lifted 728 million people from World Bank defined poverty, 83% of the reduction of those living in poverty in the world. This is greatest contribution of any country to human well-being.

But despite these achievements China’s stress on integrated inclusive growth means China has no conception it can successfully develop alone. Instead China advocates strengthening the G20’s role. G20 economies account for 85% of world GDP, including the largest advanced and developing economies. The G20 is therefore provides an unequalled forum to coordinate measures to deal with the world’s most pressing economic issues.

China’s proposals for an innovative, invigorated, interconnected and inclusive economy are therefore crucial not only for this year’s Hangzhou summit but a step towards the G20s strategic development.

By John Ross (People’s Daily Online)

John Ross is Senior Fellow at Chongyang Institute for Financial Studies, Renmin University of China.

G20 can unlock global economic potential

The 2016 G20 Hangzhou summit will kick off on Sunday and a related meeting, the Business 20, will be held this weekend. As China is the chair of this year’s G20, expectations are running high though some still try to interpret the event through an ideological lens. But the fact that the global governance capability will be mobilized to its maximal extent at this year’s summit may be a common consensus.

China sees G20 as a top item on its agenda and has strived to create favorable conditions for the summit. Some say too much attention has been put on G20. However, the positive significance of a successful G20 overweighs the negative effect. From the perspective of urban development, the summit has promoted Hangzhou’s growth and image.

China is a unique member of G20. It is the world’s second-largest economy and the largest developing country. It has excelled in some areas but the overall economic and social development is not as advanced as in some other countries. China’s high speed development together with its experience, from both successes and mistakes, make us easier to find common ground with both developed nations and emerging markets.

China is sincere about promoting global governance and creating a win-win situation in resolving world economic issues. China’s rise, to some extent, is the result of globalization. Chinese believe strengthening international cooperation is a global trend and are devoted to the win-win principle. We believe the G20 playing a greater role will benefit China and the world.

Compared to the time of the first G20 summit in 2008, the global economic issues have become more complicated and morale has taken a further beating. Eight years after the financial crisis, the developed nations have yet to walk out of the shadows and the emerging markets are facing increasingly grave challenges. G20 needs a passionate summit and the enthusiasm of the Chinese society will help make it happen.

There is still great potential in the global economy and the key is to redistribute resources more reasonably so that less developed regions can drive growth that benefits all sides. The same issue has also been haunting China. The country has been restructuring and developing through the process of reform. The exploration belongs as much to China as to the world.

Macroeconomics may not be the most popular stories. Some Western media tend to politicize the summit or sprinkle their coverage with gossip. The summit only takes two days and the topics proposed by China revolve around the economy. As the global economy is once again at a crossroad, we hope the media can make the call heard for an “Innovative, Invigorated, Interconnected and Inclusive” world economy. Global Times


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Be an entrepreneur or a politician?

Let your children decide on their employment choice

Most parents in their fifties are looking at retirement options when their children starts looking for employment after their studies. There is this transition moment in our family circle of life where the baton of employment, career or business is being passed to the next generation.

The older generation after 30 years of slogging, looks forward to easier passing of days without the responsibilities and worries whilst the younger generation looks forward with optimism and high hopes of securing a good career ahead.

As an entrepreneur with businesses and investments, my natural instinct is to rope them into the family business, if any, as any typical old generation Chinese businessman will do. But I made up my mind some 7 years ago when my first born started his A Level, that my children will make their own choice whether they will prefer to seek employment elsewhere or participate in the family business. It will be their choice and decision and I will support whole heartedly whatever decisions they will make. 7 years later, I still have the same conviction.

I had this feeling that the business world and environment will be much different with all these globalization and technological advancement and the businesses that I was in will be operating in a much more competitive and disruptive world order. This has proven to be true.

The traditional brick and mortar businesses are under tremendous stress to keep up with new disruptive technologies and new business ideas.

My children will have to learn new skills and insights and they definitely will not be able to learn from my traditional family business unless I had instituted changes to my existing business to join the new business order. But I did not know how.

So it is better that they decide on their choice of employment in whatever industries they choose as long as they are working for a forward looking company who is able to embrace the new technological changes that is changing the business order across the global markets. And if they do decide later after some years of working experience to venture out as an entrepreneur, I will also support them wholeheartedly.

Assuming they are up to it, with the right attitude and skill sets.

Not everyone is capable of being a ‘successful’ entrepreneur. It is easy to start a business, call yourself a founder and entrepreneur but chances of being successful is limited to the capable few. For most cases, you are better off building a good career in a good organization rather than struggling in a small scale business for the rest of your life.

If you planned to be an entrepreneur, just make sure your business potential is scalable to a size that will earned you nett, double what you would be earning in a good job. Or else it will be a waste of time. The thrill of being your own boss wears thin over time when you are not doing well financially.

I have many friends who have done very well in their corporate careers and they seem very happy when we do meet up. They definitely look younger than me, with less stressful lines, a radiant and happy face. Compared to my aged face filled with worried lines and scars of agony suffered through the years. Was it worth it?

With the wisdom of hindsight, I am now able to advise my children on their decision making process on whether they should be a corporate suit or to go on their own. My only guidance to them is whatever choice they make, just ensure their actions are productive and contribute towards the well being of the economy. Don’t be lazy, do good where you can and be as good as you can be. Then start a family. Circle of life starts again.

The only career that I totally discouraged my children from is the job of a politician. Good politicians are hard to find nowadays. Since integrity left the politicians, good virtues and honesty followed. What is left is a shell of a conniving and corrupted politician using whatever means they can to stay in power supposedly representing the people’s interest.

All over the world, the politicians together with religious and racist bigots have caused total mayhem to our daily lives. People are divided by race, religion and skin colour. Nothing makes sense anymore. Throw in lots of money into a politician’s hands and we have absolute corruption across the ranks. Cash is king. Everybody can be bought. And I mean everybody.

What is really sad is the complete breakdown of morality and integrity of the human politician. Where he suffers no shame when he is openly corrupted. When he can sleep well even though he has done many evil things destroying the moral fabric of the society which he swore to protect. I have nothing but despise for these toxic politicians.

The few genuine politicians who stand up their grounds to all are few and far between. Eventually, they too will engulfed by the all pervasive influence of corruption.

To the younger generation joining the working community, my only advice is to pick a job that fits your personality and your skill sets. Make sure you enjoy the job. Get some proper working experience under your belt and you can evaluate your options in a more leisurely way.

You will know when there is a calling for you to become an entrepreneur. You will be unhappy with your job, your bosses irritates you, there is a burning desire that has just lighted up in your belly, a brilliant idea suddenly appeared and you feel that you are now ready to be an entrepreneur. Are you?

From experience, it takes a long time for an entrepreneur to make big fortune. If you do not have the patience, I recommend you a job that makes money faster than an entrepreneur.

Be a politician.

Source: Tan Thiam Hock, On Your Own/Starbizweek

The writer is an entrepreneur who hopes to share his experience and
insights with readers who want to take that giant leap into business but
are not sure if they should.

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China cracks down on P2P lending to curb illegal activities


BEIJING: China’s banking regulator issued tough new rules on Wednesday to tighten regulation of the country’s $60 billion peer-to-peer lending sector, which has been dogged by scandals and fraud.

The measures mark the latest attempt by China to reduce risks to the world’s second-largest economy by cleaning up the its rapidly growing but loosely regulated online financial sector.

Peer-to-peer lending (P2P) platforms will not be able to take deposits, nor provide any forms of guarantee for lenders, according to a joint document issued by the China Banking Regulatory Commission (CBRC), Ministry of Public Security, Cyberspace Administration of China, and the Ministry of Industry and Information Technology.

The regulator said some P2P firms were running Ponzi schemes and raising funds illegally, and said it would bar firms from 13 “forbidden” activities.

Under the new rules, P2P firms would not be permitted to sell wealth management products which are popular with many Chinese investors, nor issue asset-backed securities, and must use third party banks as custodians of investor funds, the regulator said.

It added that P2P firms cannot guarantee investment returns nor investment principal, and they would be subjected to higher disclosure requirements.

The regulations follow the April passage of a plan by the State Council, or cabinet, to clean up the non-bank financial sector after rare demonstrations by angry investors stoked fears of social unrest.

The banking regulator is responsible for tightening regulations over P2P, online trust businesses and online consumer finance firms

China’s online P2P lending platforms, which match small business and individual borrowers with retail investors with spare funds, has seen rapid growth in the past two years largely due to the lack of regulatory oversight.

The industry raised more than 400 billion yuan ($60 billion)by November last year, CBRC data showed.

But among the more than 3,600 P2P platforms, more than 1,000 were problematic, the CBRC had said.

The rise of P2P lending was originally seen by the government as a type of financial innovation that could make funds accessible to credit-hungry consumers and small businesses, which continue to struggle to get loans from traditional financial institutions.

Beijing’s hands-off approach to promote the rapid development of the sector, however, led to a large number of high-profile P2P failures, scandals and frauds.

The consequences have devastated many retail investors, who dumped their life-savings into P2P platforms in hopes of receiving double-digit returns, threatening China’s social and financial stability.

Ezubao, once China’s biggest P2P lending platform, turned out to be a Ponzi scheme that solicited 50 billion yuan ($7.5 billion) in less than two years from more than 900,000 retail investors through savvy marketing.

Investor funds were squandered by Ezubao executives on lavish lifestyles. Retail investors are still unable to get back their hard-earned money, and many have blamed Beijing for its lack of regulation and scrutiny. – Reuters


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    • Crossover: P2P financing sector still to develop?

    •  Crossover: P2P financing sector still to develop?. For more on P2P regulations, we talk to Chen Jiahe, chief strategist at Cinda Securities.Q1. The recent series of P2P defaults seriously damaged investors’ faith in P2P financing. Do you think P2P still has a lot of room to develop, after these regulations?…
  • China tightens rules for troubled P2P lending sector

  • China tightens rules for troubled P2P lending sector. China released new rules on Wednesday to tighten regulations covering the country’s scandal-tainted peer-to-peer lending sector. Government officials say reducing risks and illegal activities in the US$60 billion sector has become a key
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