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Media Report
February 29 , 2016
  • Reuters：China expects to lay off 1.8 million workers in coal, steel sectors
    Reuters reports: "China said on Monday it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 percent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given....Yin Weimin, the minister for human resources and social security, told a news conference that 1.3 million workers in the coal sector could lose jobs, plus 500,000 from the steel sector....The central government will allocate 100 billion yuan ($15.27 billion) over two years to relocate workers laid off as a result of China's efforts to curb overcapacity, officials said last week....He said the funds being made available would be used only after the enterprises go bankrupt and settle their debts. He said local governments would also be responsible for dealing with those debts."
  • The New York Times：China Bracing for North Korean Response to New Sanctions
    The Associated Press reports: "Beijing is on alert for any angry responses from North Korea to proposed new United Nations sanctions over the North's recent nuclear test and rocket launch, a Chinese diplomat said Monday....The U.S. and South Korea also bear responsibility to avoid actions that North Korea might view as provocative, such as scheduled military drills, he said....Despite its reservations, Beijing signed on to a draft resolution that for the first time would subject cargo ships leaving and entering North Korea to mandatory inspections, prohibit the sale of small arms and other conventional weapons to the North, and impose financial sanctions targeting North Korean banks and assets and ban all dual-use nuclear and missile-related items."
  • The Wall Street Journal：China Muzzles Outspoken Businessman Ren Zhiqiang on Social Media
    The Wall Street Journal reports: "China's government stripped a prominent and outspoken businessman of his social media accounts after he issued a rare direct challenge to President Xi Jinping over the loyalties of state-controlled news media....The Cyberspace Administration of China, the main Internet regulator, said in a statement posted online that Mr. Ren's Weibo account and another account of his on a similar site run by Tencent Holdings Ltd. were ordered closed because he had used them to 'publish illegal information, which had a negative impact.'...The statement didn't specify which of Mr. Ren's writings were illegal. In an email, Weibo spokesman Gong Min declined to discuss the specifics of Mr. Ren's case, saying the company 'will fully comply with Chinese laws and regulations.'"
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