follow us:
site: HOME > > Economic > China Buzz > Media Review
Morning Wrap: Top Stories in the Chinese Press - Aug 6

August 6, 2013
Translated by Tian Shaohui, Luo Shuqi and Pang Lei

Dominating headlines today are more reports about how the individual who released photos and videos that allegedly reveal four judges from Shanghai's top court visiting a nightclub and engaging the services of prostitutes trailed the court officials for a year (China Smack) and (Global Times).

There is also plenty of reporting about the decision of Abbott Laboratories to recall batches of baby formula that were being sold in China. The recall by the U.S. company is related to a broader recall of baby formula sold by Fonterra in various countries (Caijing).

Aside from that, most websites are sticking to familiar topics like the stifling heat - eight provinces are expected to see temperatures reach 41 degrees over the coming 3 days - details of the upcoming "gang rape" trial of the son of a famous military singer and more on the Daoist "Grand Master Wang Lin.

Keep reading below for translated digests of some of the other stories being reported by mainland Chinese media outlets today.

CNCA Requests Traceability System for Organic Milk
Southern Metropolis Daily
China's Certification and Accreditation Administration (CNCA) is requiring dairy companies to set up a system that will allow regulators to better trace products. This system would allow consumers to look up information on every procedure in the production chain of a bottle of organic milk, from the quality of the pasture to the homogenisation process. A milk product can usually only be labeled organic when no pesticide or antibiotics are used in its production. Chen Yu (陈瑜), a Chinese dairy industry expert, says that by introducing a system that allows customers to trace the source of organic dairy products, not only improves the standard of organic milk made in China, but also helps to better regulate the market.
Original article: [Chinese]

Expanded Property Tax to Target New Property
Securities Times
A property tax that is already being levied in Shanghai and Chongqing is expected to expand to other cities in the near future. Cities that are set to introduce the tax will base their plan on the one submitted by the Hangzhou government, which has been approved by a variety of bureaus such as the Ministry of Finance (MOF) and the State Administration of Taxation (SAT). The plan levies the tax on only newly-constructed houses and it will only be applied to home owners who have more than 60 square meters of living space per person. The Hangzhou plan also taxes properties differently depending on whether they are owner-occupied or investment properties. Owner occupied residential properties that qualify for the tax will be charged at a rate of 4 percent. Owners of investment properties will have to pay 8 percent.
Original article: [Chinese]

Property Prices to Continue to Rise in Major Cities
China Business News
China's property market will maintain their strong momentum in the latter half of the year, especially in the main urban centers, according to a report authored by the Institution of China Land Surveying and Planning (中国土地勘测规划院), a think tank under the Ministry of Land and Resources. Property developers are also prepared to pay more for key plots of land, with land transfer fees in Beijing and Shanghai over the first seven months of the year reaching over 8 billion yuan and 70 billion yuan respectively.
Original article: [Chinese]

No Power Shortages this Year
Beijing News
There seems no ground for power shortage this year despite soaring temperatures around the country. Power supply for enterprises will not be limited over the summer, though record high load on the power grid have been set in Beijing and several other cities.  The power demands of secondary industry is growing at a slower pace than average overall growth. Officials from the China Electricity Council (中国电力企业联合会) say that this means that great progress is being made in terms of economic restructuring.
Original article:


Comments(The views posted belong to the commentator, not representative of the EO)

username: Quick log-in

About China Buzz

The Economic Observer's editorial staff are always on the look out for interesting, fresh and high-quality China-related content. Whether it's the latest buzz on Weibo, links to insightful articles or updates on the latest books and reports, through China Buzz we'll keep you in the loop about what's going on in the world of Chinese politics and economics.

Most popular

this week
this month


E-mail subscription

Enter your e-mail address to subscribe to China Buzz and receive notifications of new posts through e-mail.