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Commentary Wrap: Negligence, Gaokao Love & Stock Meltdown


June 28, 2013

Editors from the EO's Chinese website publish 
a daily collection of extracts from commentary pieces on topical issues that appear in the mainland press alongside reactions on Sina Weibo. Every Friday, the EO's English team translates a selection of these opinion pieces.

A Gaokao Champion’s Love
Background: Wu Haihao (吴海灏) from Guangdong Province got the highest score in Chancheng District of Foshan City on this year’s Gaokao college entrance exam. He admitted that the reason he got such a high score was because during the first year of his high school, he developed a crush on a classmate who was doing very well in her studies. In order to keep up with her, he studied very diligently. After exam, Wu professed his love to the girl.

Wu Haihai’s “study for love” undoubtedly demonstrated his sincerity, which more-or-less subverted our traditional concept of education that views the “puberty sprout” (青春期萌动)as a severe flood and fierce beast. The puberty sprout won’t die out because we deliberately try to avoid it or crack down on it. From Wu’s experience, at least we see a new possibility. As long as it’s guided properly, the puberty sprout can become a positive influence on study. Educators should be enlightened by this case. They cannot rashly strangle students’ emotional need to associate with the opposite sex. They should assume the responsibility of providing emotional education and guidance.
- Yangzi Evening News [Chinese]

Today, people have generously recognized the Gaokao champions’ right to profess their love precisely because of their identity as high scorers. But how about those children who failed to pass the exam? Will they be allowed to shout their declarations of love so loudly?
- Southern Metropolis Daily: [Chinese]

Photo: Sohu

Nanjing Girls Die of Neglect
Background: The bodies of 3-year-old Li LuoXue (李梦雪) and 1-year-old Li LuoHong (李梦红) were discovered on Jun 21. They were found to have died of starvation after a long period of abandonment. The mother, who has a history of drug abuse, has been arrested.

It’s unrealistic and unfair that we expect someone to entirely shoulder the responsibility of protecting minors. It’s most practical to rely on government and society. In some countries, the relevant national institutions and social organizations come to the rescue immediately if children’s rights are impaired. However, the situation of our government is unclear, unresponsive and the development of social organizations is far from perfect.
- Yangtze Daily [Chinese]

Unfortunately, there is still no specific legal regulation as to what kind of officer or unit can decide to remove someone as a guardian of minors.
- Beijing News [Chinese]

When there are family care problems, the timely and effective intervention of government and social forces is something that needs to be studied. In order to prevent this case from happening again, it’s necessary to confront the government that failed in its responsibility for "timely and effective intervention."
- Southern Metropolis Daily [Chinese]


Money Market Meltdown Hits Stock Market
Background: The Shanghai Composite Index fell by more than 5 percent on June 24, its biggest daily percentage drop in almost four years after interbank lending rates soared to their highest level in 10 years last week.

The Central Bank's attitude is clear; it doesn't want to continue to provide damaging liquidity to stimulate the economy anymore. This rebalancing is a painful process, and both the money shortage and market crash are indirect "derivatives" of the move.
- Southern Metropolis Daily [Chinese]

In order to deal with the "money shortage" not only should we pick up the pace of interest rate liberalization reforms, more importantly, we need to lower the entrance requirements for private participation in the banking industry. 
- The Beijing News [Chinese]

If this uncompromising monetary policy can stay the course, it might not only solve the problem of excessively rapid expansion in the bank industry, but also set the policy tone for financial reform. This means that banks will no longer assume that if they run into problems the central bank will always be there to loosen monetary policy.
- Oriental Morning Post [Chinese]

Regulators cannot simply sit on the sidelines and watch as the side effects of this "money shortage" wreak havoc. They need to either "prescribe" medicine that will have an immediate on rescuing falling market or alternatively offer a more fundamental solution to the current economic problems. Once the market regains its confidence, the side effects will disappear.
- Guangzhou Daily [Chinese]

The reform of interest rates is key to solving the money shortage problems. By means of that, people will no longer provide "subsidies" to state-owned companies in the form of discount rates anymore. Commercial banks will also be motivated to put money into private firms, especially small- and medium-sized enterprises, as well as IT companies.
- Chengdu Business Daily [Chinese]



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