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| September 2004 |
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| CHINA BUSINESS HEADLINES |
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Hu Succeeds Jiang as Chairman of CPC Central Military Commission
Hu Jintao succeeded Jiang Zemin as chairman of the Central Military Commission
(CMC) of the Communist Party of China (CPC) at the Fourth Plenum of the 16th CPC
Central Committee, which concluded Sunday.
The four-day plenum approved Hu to take over the CMC chairmanship after
accepting Jiang's resignation.
The plenum approved Xu Caihou, 61, as CMC vice-chairman.
The plenum also approved Chen Bingde, Qiao Qingchen, Zhang Dingfa and Jing
Zhiyuan as CMC members.
Hu, 61, is also general secretary of the CPC Central Committee and president of
China. He was vice-chairman of the CMC previously.
Jiang, 78, had held the CPC's top military position since November 1989.
Jiang, after serving as general secretary of the CPC Central Committee for 13
years, bowed out of the Party Central Committee at the 16th CPC National
Congress held in Beijing in November 2002.
He went on to relinquish the state presidency he had held for 10 years at the
annual full session of the National People's Congress, China's top legislature,
in March 2003. Hu took over both positions.
"The plenum unanimously agreed that this (Hu's becoming CMC chairman) is
conducive to upholding the fundamental principle and system of the Party's
absolute leadership over the military, and is also conducive to the
strengthening of the military's revolutionization, modernization and
regularization process," said a communiqu¨¦ released after the closing of the
plenum.
The communiqu¨¦ also noted that the plenum had "highly evaluated Comrade Jiang
Zemin's outstanding contributions to the Party, the state and the people."
"In the 13 years from the Fourth Plenum of the 13th CPC Central Committee to the
16th CPC National Congress, under the extremely complicated international and
domestic situation, the third-generation central collective leadership of the
Party with Comrade Jiang Zemin at the core had held high the great banner of
Deng Xiaoping Theory, unswervingly adhered to the Party's basic lines, rallied
and led the entire Party and people of all ethnic groups across the country ...
to score remarkable achievements in pushing forward the cause of socialism with
Chinese characteristics," the communiqu¨¦ said.
In the past 15 years as he served as the CMC chairman, the communiqu¨¦ said,
Jiang had "grasped the development trends of new military reforms in the world
with his great insight" and had enriched the army building ideas of Mao Zedong
and Deng Xiaoping to "found the Jiang Zemin thought for national defense and
army building."
"Under his leadership, (China's) national defense and army modernization process
had achieved tremendous success," it added.
The communiqu¨¦ also highly praised Jiang for founding the "Important Thought of
Three Represents" after pooling the wisdom of the entire Party.
"The Important Thought of Three Represents is the latest outcome of the
localization of Marxism in China, as well as a fundamental guideline for the
realization of the magnificent goal of building a relatively affluent society in
an all-round way," said the communiqu¨¦.
"It (the Three Represents thought) must be implemented in all areas of China's
socialist modernization drive and be reflected in all aspects of Party
building," it added.
In a letter to the Political Bureau of the CPC Central Committee dated Sept. 1,
Jiang formally requested to resign the CMC chairmanship, saying that he "had
always looked forward to the complete retirement from leading positions" for the
good of the long-term development of the cause of the Party and the people.
"Practice has proved that the central collective leadership elected at the
Party's 16th National Congress and the First Plenum of the 16th Party Central
Committee is able and competent, and can stand the test of reform, opening-up
and complicated situation," said Jiang in the letter, adding that he had decided
to resign after "meticulous consideration."
Jiang proposed in his letter that Hu take over the CMC chairmanship, saying that
"Comrade Hu Jintao is absolutely qualified for this post" and that "this is also
conducive to upholding the fundamental principle and system of the Party's
absolute leadership over the military."
He said he would also submit a request to the National People's Congress (NPC),
China's top legislature, for resignation from the post of chairman of the
Central Military Commission of the People's Republic of China.
Jiang also said that he would "always give allegiance to the cause of the Party
and the state" and "always be a loyal member of the Chinese Communist Party".
A decision passed at the plenum regarding the acceptance of Jiang's resignation
said that Jiang's move had "fully displayed his foresight about the development
of the cause of the Party and the state," and "his broad-mindedness as a true
Communist."
The document also noted that since the First Plenum of the 16th CPC Central
Committee at which Jiang was asked to stay as the Party's military chief, Jiang
had "given full support to the work of the Party's new central collective
leadership with Comrade Hu Jintao as general secretary," and had
"whole-heartedly performed the duty bestowed on him by the Party Central
Committee."
Sources: Xinhua News Agency
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Energy Shortage May Dim China's Economic Boom
China is basking in the glow of booming success, but while the future looks
bright no one's sure for how long -- because of urgent energy concerns.
In places like Shanghai which is home to just under 17 million people, the
entire city basks at night in a dazzling display of brilliant, new-found wealth.
"But the lights also signal a looming crisis for this nation," says CTV reporter
Steve Chao in Shanghai.
In the march to modernize, the demand for electricity in China is overwhelming.
"The system is overstretched," says Chao.
Millions of new energy users are tapping in to the electricity system each day,
enjoying their new-found wealth.
Chao says the surging use is coming from homes and factories. Many people are
reveling in new comforts that technology brings.
"When we were young life was so tough, we didn't have such things as electricity
or air conditioning," homeowner Zhao Guo Yu told CTV News.
"We used hand fans to keep us cool. Now we have it all."
But will people "have it all" for long if current trends continue?
Brownouts have been rolling across the country in recent months. To conserve
energy, Chinese officials have ordered thousands of factories to shut down, or
to operate in non-peak hours.
And that's not all. It will soon be illegal for people and businesses to overuse
electricity.
"In Shanghai's famous tourist district, its already lights out -- at 11 p.m.
sharp," says Chao.
But even with all these drastic moves, it's not enough.
Just to keep the lights on in China, officials estimate they need to increase
capacity by 500 gig watts. That's five times what Canada is able to produce in
one year.
In one move that's made headlines around the world, China built the Three Gorges
Dam on the central Yangtze River.
The vast hydro-electric project that forced the re-location of an estimated 1.3
million people. But Chinese leaders say the dam will generate much-needed
electricity in China's interior, as well as control chronic flooding in the
region.
Another part of the solution could lie in nuclear power.
Chao says a good example is the Qinshan power facility near Shanghai, which has
a big Canadian connection. Eight years ago, Canada signed a deal that gave China
a $15-million loan to build Candu reactors in Qinshan.And recently, Canada's
natural resources minister, John Efford, toured the site to promote development.
"Day to day things are improving," Efford told CTV News during a visit to
Qinshan. "So I think yes, China will be moving forward. And we will be there to
work with them."
China also plans to build at least 30 more power plants -- to help meet
ever-growing demand.
But for now the country is waiting for those new plants to come on-line and help
alleviate any energy shortages.
In the meantime, Chao says, a pressing problem for authorities is changing how
people think -- especially young people.
"Convincing the new generation of Chinese to save energy will also be crucial,"
says Chao.
But he says some people worry that it won't be easy.
"The young generation are spoiled," homeowner Zhao told CTV News.
"They don't understand what it means to save and sacrifice."
It's a message some Chinese may have to learn anew, amid the bright lights and
power-hungry ways of modern life in their country today.
Source: CTV.ca
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China's Nonferrous Metal Market Stable in September
Due to increase in output and market supply of some nonferrous metals, market
prices of nonferrous metals in China have basically remained stable in September
this year.
Meanwhile, China's fixed assets investment grew 26.3 per cent year on year in
August, lower than the 32 per cent growth in July. This has made China's market
demand for such basic nonferrous metals as copper and aluminum stable.
China's further implementation of macro-control policy will for sure dampen to
some extent the country's market demand for nonferrous metals.
In fact, high-speed growth of nonferrous metal output may help ease supply
shortage. China produced 6.693 million tons of 10 kinds of nonferrous metals in
the first half of this year, up 21.4 per cent year on year. Copper output grew
17.28 per cent; aluminum, 26.21 per cent; and lead, 17.27 per cent.
China's nonferrous import is also increasing. Copper import reached 842,000 tons
in the first seven months of this year, while the export was only 98,600 tons.
Lead import was 3.37 million tons while export was 377,000 tons. China's
nonferrous import is expected to increase in September.
Though there are many factors that dampen market prices of nonferrous metals,
there are also counteractions. The State Development and Reform Commission and
China Power Regulatory Commission jointly issued a circular on August 31,
requiring local governments to introduce differential rates for power
consumption by 6 high energy-consuming sectors including cement, electrolytic
aluminum and ferroalloy. With September 20 as the deadline, high
energy-consuming enterprises either close down or have their power rates
increased by 0.05 yuan/kWh.
Starting from 2003, some 237 electrolytic aluminum projects have either been
stopped or suspended. Since this year, some 400,000 tons of electrolytic
aluminum production capacity have been suspended.
Generally speaking, market prices of nonferrous metals in China will remain
stable. But as copper price has grown over 50 per cent in nearly a year period,
experts do not rule out the possibility of slipping of copper price. As for
others, aluminum price may drop as market demand for aluminum remains weak;
nickel price may remain at a high level; and lead price may rise further.
Source: Asia Pulse
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Support for IC Industry to Keep On
The State Development and Reform Commission pledged on September 21 to prop up
the further development of the country's integrated circuit industry.
In addition to the policy of rebate-upon-collection of taxes on IC products, the
document numbered (2000)18, along with its complimentary regulations, will
remain valid.
In line with the WTO rules and international common practices and taking into
the real situation of China, the country will continue its support to the IC
industry to encourage research and development and foster talents.
In the meantime, export taxes on IC products will be rebated in full amount.
Some WTO members including US put up complaints against the tax rebates policy
to China since this year. An understanding has finally been reached between
China and these WTO members after consultations.
China agreed to stop refunding the taxes involving the portion above 6 percent
of the total duties to be levied on imports of home-designed and overseas
manufactured IC products. Refunding of value-added taxes on domestically made IC
products will phase out on April 1, 2005.
Sources: People's Daily
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China to Double Hydropower Capacity by 2020
China may double the electricity it produces from dams in the next 16 years as
the world's second- largest energy market seeks cheaper and cleaner alternatives
to coal.
China should be able to generate 230 gig watts of power by 2020, tapping half
the nation's hydroelectric resources, said Bi Yaxiong, president of Yangtze
Power Co., operator of the world's biggest hydro project. That would be up from
100 gig watts today, he said. A gig watt is 1,000 megawatts.
China is turning to alternative fuel sources to cope with power shortages and
reduce pollution in a country where 67 percent of power plants burn coal. China
suffered power shortages this year as the economy expanded 9.7 percent and
electricity demand shot up 16 percent.
Yangtze Power will provide about half the nation's hydropower capacity by 2020,
Bi said in an interview in Sydney two weeks ago. Hydropower should account for
24 percent of the nation's total power capacity by 2020, up from 21 percent now,
he said.
Still, opportunities for hydroelectricity in China are limited. ``Not all parts
of China are suitable for building hydropower stations, and not all resources
may be commercially viable,'' Bi said while attending a global energy conference
in Australia.
China is using about a fourth of its potential hydropower resources at present,
said Bi. That should rise to more than 60 percent in 16 years.
Yangtze Power's parent, China Three Gorges Project Development Corp., plans to
build 26 generators on China's longest river by 2009, each with 700 megawatts of
capacity, he said. China is spending 180 billion yuan ($22 billion) to develop
hydroelectric capacity on the Yangtze.
Expanding
Three Gorges is selling plants to Yangtze Power as they start operating and
earning revenue. ``Yangtze Power is expanding through step-by-step acquisitions
from the parent,'' said Bi, who is also vice president of Three Gorges.
``Yangtze Power eventually will take over all of the parent's assets.''
Yangtze Power used the proceeds from its October 2003 initial share sale to buy
four generators from Three Gorges, doubling its capacity to 5,515 megawatts.
Yangtze Power will buy another two generators early next year, taking capacity
to 6,900 megawatts.
After 2009, Three Gorges will start work on an even larger project in the
Jinshajiang region further upstream on the Yangtze. The project will provide
40,000 megawatts of capacity by 2020 and eventually be transferred to Yangtze
Power, Bi said.
Yangtze Power will control more than 60,000 megawatts of capacity by 2020, with
smaller hydropower producers accounting for the remainder. Total capacity will
include thermal power companies like Huaneng Power International Inc. and Datang
International Power Generation Co.
Sources: Bloomberg
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