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Media Report
January 20 , 2017
  • The New York Times：China's Economy Grows Strongly, Yet Central Bank Eases Policy
    The New York Times reports: "China's economy firmly hit its growth target last year and even accelerated a bit at the end. In most countries, that would be seen as unequivocally good news. But this is China, where figures are sometimes doubted and where economists look for signs of strain underneath the numbers. Indeed, Chinese officials who released the economic data on Friday faced questions about the country's mounting debt. And in an unusual move, its central bank on Friday took an extra step to inject more money into the economy over the next month. China's economy grew 6.7 percent last year after accelerating slightly to 6.8 percent in the fourth quarter, the government's statistics bureau announced on Friday morning. The Chinese government appears to have delayed an economic reckoning, but at a high cost. The central bank and state-owned banks shoveled trillions of renminbi into a surge of credit, putting aside longstanding worries about a deeply indebted corporate sector and signs of a real estate bubble. The government borrowed and spent heavily, continuing oversize projects like the construction of world-class highways and high-speed rail lines to cities that are increasingly remote from the main hubs of economic activity near the coast."
  • The Financial Times：China is shaping up to be a world leader on climate change
    The Financial Times reports: "The entire world needs to build cities in which we can move, breathe and be productive. It must also ensure better access to clean energy, use it more efficiently and protect the natural resources that are the foundation of our economy. China's role will be key, not only as the world's largest emitter but also as its largest investor in sustainable infrastructure. China has come so far so fast that many people are unaware of how much progress it has made, from investing in renewable energy to tackling air pollution. It still faces significant adjustment challenges, particularly around reducing coal consumption, but it is displaying the commitment and creativity needed to tackle this urgent and complex challenge. China has recognised not only the grave risks of unmanaged climate change, to which it is very vulnerable, but also the great attractions of an alternative path for growth which is cleaner, more efficient, innovative and dynamic. At home, its most recent five-year development plan reflected profound changes to its economic strategy that incorporate sustainable development. On the global stage, Beijing's support was indispensable to the success of the Paris climate negotiations and it is moving quickly to implement its pledges under the resulting agreement. By acting decisively now both domestically and abroad, China will reap the early benefits of the low-carbon economy. China is well placed to catalyse action on five fronts."
  • BBC：Paramount gets $1bn Chinese funding
    BBC reports: "US film company Paramount Pictures has secured a $1bn (£810m) cash injection from two Chinese firms. As part of the deal, Shanghai Film Group and Huahua Media will finance about a quarter of all Paramount's films over the next three years. The partnership gives Paramount an entry point into China, the world's second biggest box-office market. Viacom-owned Paramount said the investment would help fund future projects to help grow the studio. 'Shanghai Film Group's long and successful history as a prolific studio, coupled with Huahua's strong track-record in the Chinese market and its growing reach globally, make this a natural and powerful move for Paramount,' said Brad Grey, Paramount Picture's chief executive. The terms of the deal were finalised in November last year, when Mr Grey was in Shanghai. Shanghai Film Group was an investor in Paramount's Jack Reacher: Never Go Back movie. The Paramount partnership follows other Chinese companies investing heavily in Hollywood. Last year Dalian Wanda spent $3.5bn on a controlling stake in US film studio Legendary Entertainment. The Paramount deal comes as Viacom tries to revive its fortunes. Its most recent earnings were hit by poor box-office results for Paramount's Teenage Mutant Ninja Turtles: Out of the Shadows. Meanwhile its cable channels Nickelodeon and Comedy Central have struggled to maintain audiences as younger viewers increasingly watch entertainment on mobile devices and computers."
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