Here comes the modern Chinese consumer | McKinsey & Company: "When asked about their expectations regarding future income, 55 percent of consumers we interviewed were confident their income would increase significantly over the next five years—just two percentage points lower than in 2012. (By comparison, just 32 percent of consumers in the United States and 30 percent in the United Kingdom agreed with the same statement in 2011.)"
China’s new economy groups outperform - FT.com: "With 68 per cent of A-share listed companies having reported results, “new” economy companies — defined as those in the accommodation, business services, information technology, science and research, transportation and retail sectors — posted an average earnings per share of Rmb 0.48 last year, up from Rmb 0.45 in 2014"
Q&A: Chinese Finance Minister Lou Jiwei - WSJ: "The central government has abolished hundreds of items for approval requirements, and local governments are also moving in this direction and doing similar things. I think the U.S. also should do more deregulation because there’s too much regulation in the U.S. One of the reasons behind weak public investment in the U.S. is too much regulation."
Pan Yue’s Unique Vision of Green China | Chublic Opinion: "he believes that environmental problems are fundamentally rooted in ethics and culture, and should be addressed in such dimensions. His critique of the country’s ecological plight is morally charged, accusing people of a single-minded, short-sighted pursuit of materialistic wealth, without regard for their moral responsibilities. His invocation of Confucian values as a way to approach the era’s fundamental challenges reflects not just a nationalistic leaning, but also a conviction that problems in the material world originate from the heart."
Lunch with the FT: Jin Liqun — FT.com: "His point about how hard he and Beijing have worked to convince so many countries to join the AIIB is a good one, suggesting that China is seeking to insert itself into a peaceful and co-operative global order rather than overturn existing power structures. ... But Jin’s ambitions for the bank go far beyond replicating the existing multilateral development institutions like the ADB and the World Bank. He believes these have strayed from their original mandate by focusing far too much on poverty alleviation while ignoring the lessons from developing countries like China. “The Chinese experience illustrates that infrastructure investment paves the way for broad-based economic social development, and poverty alleviation comes as a natural consequence of that,” he says. “We want to create something new that combines the strong features of private companies with those of multilateral development banks.” Jin has also coined a slogan to describe the way the new bank operates — he says it will be “lean, clean and green”. That means a bank with a small professional staff and non-resident board of governors (lean) that is not corrupt (clean) and cares about the environment (green)."
China and the rest of the world
Impact of China on advanced economies set to grow - FT.com: "Emerging markets such as China pose a growing risk to advanced economies with events in developing economies increasingly responsible for price movements in financial markets in richer countries, the International Monetary Fund has warned."
Beijing ambulances to get taxi-style meters - BBC News: "From May, the emergency vehicles will charge a fixed rate of 50 yuan ($8; £5) for patients being transported up to 3km (1.9 miles), and then seven yuan for each kilometre travelled after that, the Beijing Morning Post reports. If an ambulance is called but then not needed, a 50-yuan charge will still apply, the paper notes. Until now, ambulance drivers worked out the charges themselves, often leading to complaints from members of the public who felt that their bills were too high, The Beijing News says."
Supersized Medication: Inside China’s Biggest Hospital | Sixth Tone: "China has pledged to achieve affordable and high-quality health care for all of its citizens by 2020. Martin Taylor, the coordinator of health systems and health security at the World Health Organization’s China office, described the health care plan as “one of the most ambitious” in the world. “If China achieves it, that will provide lessons for the rest of the world,” Taylor told Sixth Tone in a telephone interview."
Waking Up to the Threat of Domestic Violence | Sixth Tone: "On March 1, 2016, China’s first ever national law on domestic violence, known in China as “family violence,” came into effect. The law is surprisingly wide in scope. It covers physical and psychological violence against spouses, children and the elderly. It even covers unmarried partners — a big step in a country where having a live-in partner is still considered taboo. Same-sex couples aren’t mentioned, but LGBT organizations are advocating for an inclusive judicial interpretation. Though many provinces previously had domestic violence laws of their own, the national law unifies them and makes domestic violence a national talking point."