News in review Friday, September 12 to Thursday, September 18

Friday - September 12

Auto sales, production increase in August

Auto sales and production in China rose in August from a year earlier, but the market share of China's domestic brands continued to shrink, an industry association said.

Auto sales hit 1.71 million units in August, up 4.04 percent year on year and 6.72 percent month on month. The automobile output was 1.71 million units in August, up 2.22 percent year on year, but down 0.34 percent month on month, according to the China Association of Automobile Manufacturers (CAAM).

In the first eight months, auto sales reached 15.02 million units, up 7.67 percent year on year, and the output reached 15.22 million units, up 8.61 percent year on year.

The market share of domestic brands slumped for the 12th month.

China is the world's largest auto market and producer. (Photo 1)

Realtor buys stake in plastic surgery company

Evergrande Real Estate Group Ltd has bought a stake in South Korea's biggest plastic surgery operator to tap the increasing demand from domestic clients, sources said.

The company did not provide details about the acquisition, saying only that it will establish a joint medical cosmetology hospital with the South Korean plastic surgery giant soon.

WONJIN Aesthetic Surgery Clinic, which has 34 plastic surgeons, is South Korea's largest plastic surgery operator.

"Teaming with the world's best plastic surgery operator will help boost the company's portfolio and develop a new growth engine for Evergrande, as the property market has witnessed a downward trend," said Han Shitong, deputy director of the Guangdong Real Estate Industrial Research Association.

Monday - September 15

New data will broaden focus from GDP

China's top statistical authority announced a broader accounting plan that aims to shift officials' overriding obsession with gross domestic product (GDP) and place more weight on environmental and social development.

The National Bureau of Statistics (NBS) has ordered statisticians nationwide to focus more on economic stability, structural optimization and industrial upgrading, innovation, the environment and improving people's livelihoods.

The revision comes after Chinese leaders have sought to transform the economic growth mode and protect the environment through more sustainable, balanced development.

Chinese officials have long been obsessed with increasing GDP as economic performance has been the most important factor in their promotion prospects.

Teachers cite low pay, lack of respect

China's teachers are not receiving appropriate pay and respect, suggests a poll.

The poll by qq.com surveyed 400,000 teachers at universities, secondary schools, primary schools and kindergartens across the country from Aug 11 to Sept 4.

According to its findings, more than 80 percent of the respondents feel stressful or very stressful.

The survey also shows a concern about salaries, with 90 percent of respondents complaining.

More than 60 percent of teachers make 1,000 yuan to 3,000 yuan ($163-$489) a month, lower than the national average of more than $600 per month.

Almost seven out of 10 respondents thought they did not receive due respect.

Only 5 percent of respondents said they would choose to teach if they could choose their career again.

Tuesday - September 16

Beijing raises requirements for foreign workers

Beijing municipal authorities have issued requirements tightening foreign hiring in the capital city, Beijing News reported.

Foreign employees should be between 18 and 60 years old, with a bachelor's or higher degree and at least two years' related work experience, the city's decree said.

Foreign workers employed after Oct 3 teaching languages in pre-primary education institutes, schools and private education institutes should have Chinese teacher certificates or International language teaching qualifications. Those who teach disciplines other than language studies should have at least five years of related working experience.

About 37,000 foreigner work in Beijing permanently, and they mainly come from the United States, Japan, South Korea, Germany and Australia.

Sinopec will sell a stake to foreign investors

Sinopec Corp will sell a 107.1 billion yuan ($17.5 billion) stake in its retail unit to a group of 25 Chinese and foreign investors, Asia's top oil refiner said.

The sale, the country's biggest privatization since president Xi Jinping came to power, comes as China's government pushes to restructure its state-owned enterprises by bringing in private capital and expertise.

Leading investors on the deal to buy a combined 29.99 percent of Sinopec include one of China's biggest asset managers Harvest Fund Management Co Ltd taking 15 billion yuan with its subsidiary Harvest Capital Management. Sinopec's marketing and distribution unit, which includes a wholesale business, has more than 30,000 petrol stations, over 23,000 convenience stores, as well as oil-product pipelines and storage facilities. (Photo 3)

Qianlong-era vases sell far above estimate in NYC

A pair of Chinese porcelain vases sold for $1.2 million at Doyle New York, soaring 120 times past estimates.

The two 16-inch (40-centimeter) tall glazed vases, painted with branches of blooming peonies on a turquoise background, each had a Qianlong-era seal on its base, referring to the reign of the Qianlong emperor from 1736 to 1795. Estimated at $10,000 to $15,000, they were part of Doyle's Asian Works of Art sale in New York.

Asian art sales this week in New York at Sotheby's, Christie's, Bonhams and Doyle are expected to tally $95 million. Sotheby's accounts for most of the value with five sales with a target of as much as $58 million.

Austerity guides floral displays for National Day

Austerity rules guiding National Day festivities in Beijing have had gardeners racking their brains to come up with appropriate floral displays in Tian'anmen Square and elsewhere.

For almost three decades, ornate floral displays have been a key feature of the festivities marking the anniversary of the founding of the People's Republic of China on Oct 1.

The Beijing Bureau of Landscape and Forestry declined to say how much this year's display will cost. Last year's display cost 20 million yuan ($3.25 million). Designers and those arranging and installing the flowers have been doing their utmost to ensure the displays do not cost too much and respect the environment, it said.

Jie Jun, a bureau director, said the scale of the floral display will not exceed that of last year. Most flowers will be on public display and will not be allowed in government compounds. (Photo 4)

Thursday - September 18

More than half of computers infected with virus

More than half of the computers in China are infected with viruses and the number is growing for the first time in five years, a recent survey has found.

China's computer virus infection ratio grew by 9.8 percent year on year in 2013 after a reported decline for five consecutive years, the National Computer Virus Emergency Response Center said in a report. A survey by the center revealed 54.9 percent of computers examined had viruses.

Online banking and online payment remain top targets for computer viruses, with hackers not only stealing money, but private information as well. Users on microblogging website Weibo were also vulnerable to virus attacks, the report said.

More than half of the government website portals investigated were susceptible to cyber attack. (Photo 5)

Number of billionaires living in China increases

China has consolidated its position as the world's second-largest home for billionaires, with the country on track to overtake the United States by 2027, according to a new report.

A total of 190 billionaires are living on the Chinese mainland, while last year's figure was less than 160, said the Wealth-X and UBS Billionaire Census 2014, which was released on Wednesday. China has contributed the most to Asia's billionaire club, with 33 new members this year.

New York City has the most billionaires, followed by Moscow, Hong Kong, London and then Beijing, the report said.

Beijing, the city in Asia with the second-most billionaires, is home to 37 with a combined total of $98 billion. Billionaires in Beijing, according to the report, are noted for being self-made and their average age is 51.

China's first mobile phone sidewalk has been designated at a scenic spot in Chongqing municipality. It is 3 meters wide and 50 meters long. One pathway is for cell phone users; the other is for those without cell phones. A warning sign proclaims: "Cell phones walk in this lane at your own risk". It is estimated that the number of smartphone users in China will exceed 500 million this year. Provided to China Daily

(China Daily USA 09/19/2014 page8)