No. 324, July 16(3)

A Case of the Beijing Rep Office Shakeup 
News, page 7 
Ten months after the State Council called for the cleaning up of provincial and large-scale industry representative offices in Beijing in order to reduce lobbying, corruption, and conflicts of interest, Chengde City of Hebei is complying.  

Full article: [Chinese]

Invincible Steel Mills Evade Regulation
Nation, page 9 
Despite operating without licenses and causing severe environmental damage to surrounding communities, 14 Zibo iron and steel mills are immune to fines and shutdowns in part due to an ironic loophole in the law. 

Full article: [Chinese] 

Wenzhou Takes Lead with Public Trust Evaluations 
Nation, page 11 
In order to reduce the influence of personal relationships and private interests in goverment, Wenzhou bas begun evaluating public trust of its various departments and agencies. This reform initiative is being interpreted as preparation for application to the State Council for an expansion of Wenzhou’s jurisdiction, which comes with greater legislative freedom.  

Full article: [Chinese]

Debate Over Share Options for State Owned Banks 
Money & Investment, page 19 
As the China Construction bank considers a plan to offer its 270,000 employees 800 million yuan worth of share options, principal investors express dissent. Among other reasons, they say that if put into effect, upper-level managers would be largely unaffected by stock price dips while employees would bear possibly significant losses. 

Full article: [Chinese]

Stock Transactions Slow 
Money & Investment, page 23 
In the first half of this year, securities brokers profited nicely from a high volume of transctions. But this profitability has taken a hit with the increase of the stamp tax, itself part of the multidimensional response by policymakers to a bubbling market. Nevertheless, analysts are optimistic about the securities market, as bond financing, futures, and covered warrants become increasingly popular. 

Full article: [Chinese]

Guan Jinpeng: The Producer’s Identity 
Lifestyle, page 53 
Rapid economic growth has given the film industry room to grow. But film financing and production in China still lacks a real system. Director Guan Jinpeng discusses this, cooperation with Hong Kong, creative currents, and more. 

Full article: [Chinese]