THE ESSENTIAL EIGHT
1. U.S., China appear to get little done in removing economic barriers | Reuters so what are the big “deliverables” for Xi’s visit in September? // The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meeting that was overshadowed by security rivalries.
Related: China Agrees to Limit Currency Interventions, Jacob Lew Says – WSJ China has committed to limiting its currency interventions to moves countering damaging swings in exchange rates, U.S. Treasury Secretary Jacob Lew said Wednesday after high-level talks with top officials visiting from Beijing. The commitment, agreed upon in the annual round of U.S.-China Strategic and Economic Dialogue negotiations, narrows the conditions under which China says it would be willing to manage the value of the yuan.
Related: Commentary: Focus on common interests conducive to better China-U.S. ties – Xinhua As everyone knows, territorial disputes in the South China Sea have never impeded the free passage of vessels, let alone key shipping lanes there. And China, as a major trading nation in the region, has more reasons than any other to maintain navigation freedom on the South China Sea. The United States, which is not a claimant to the South China Sea disputes, should stop its lopsided approach of exerting pressure on China while pampering other claimants like Vietnam and the Philippines. But that does not mean Beijing will not welcome a constructive role by Washington in Asia, since Chinese President Xi Jinping made it clear that the Asia-Pacific is vast enough to accommodate both countries. A smooth development of China-U.S. ties is a boon not only for the two countries, but for the whole world, and any serious setback in their relations will be a cause for worldwide concern. It is hoped that Washington is on the same page with Beijing in building a new type of relationship between major countries which features win-win cooperation and mutual respect, instead of confrontation and zero-sum games.
2. 央行主管报纸刊文：本月或已无降息降准可能 PBoC’s newspaper says likely no chance of rate or RRR cuts this month // 《金融时报》专家组成员、
3. China to scrap commercial banks’ loan-to-deposit ratio | Reuters The removal of the restriction will “strengthen ability of financial institutions to lend more to the agriculture sector and small businesses”, the State Council said in an online statement. Analysts said shares in Chinese banks, including top lenders Industrial and Commercial Bank of China Ltd , China Construction Bank Corp , Agricultural Bank of China Ltd and Bank of China Ltd , would likely rise as a result. As China steps up its financial reforms, its central bank has cut interest rates three times in the last seven months in a bid to lower borrowing costs, while giving banks more flexibility over how much they pay depositors, which has hit bank earnings as lenders face competitive pressure to pay more for deposits.
Related: 取消贷存比影响几何_金融频道_财新网
4. Allies in Asia Welcome U.S. Progress on Trade Deal – The New York Times China, which is not among the 12 nations negotiating the deal and had proposed a competing agreement, refrained from criticizing the vote. For Mr. Obama, the deal, which appeared headed toward passage on Wednesday, represents an important element of the so-called pivot to Asia to help maintain United States influence as countries grow increasingly dependent on trade with China. For American allies, it offers the political cover to commit to trade concessions, removing the risk that Congress might reject the negotiated deal.
5. Children of Migrant Parents Left Alone to Die-Caixin “Increasing numbers of rural people are leaving home for a better life,” said Wu Zhihui, director of the Rural Education Institution at Beijing Normal University. “But their children are being sacrificed.” Indeed, according to the government-backed advocacy group All-China Women’s Federation, more than 61 million children in rural areas nationwide were growing up without parents in 2013. That figure represented a more than 150 percent increase from 2010. Not only do these children lack parental protection and love, but some experts say youngsters who live in these kinds of divided families often suffer adverse psychological effects.
6. Second woman PLA major general under corruption investigation | South China Morning Post PLA major general Dong Youxin, 54, who is deputy director of the Information Department of the PLA’s General Staff Department and a vice-president of the All-China Women’s Federation, was detained by the military’s anti-graft watchdog for allegedly taking 7 million yuan (HK$8.86 million) in bribes, one of the sources said….A source close to the Jinan military area command said that both Dong and Gao were seen as members of the PLA’s “Henan Gang”, allegedly led by General Jia Tingan…”If the top anti-graft watchdog dares to investigate Jia, the former secretary of ex-president Jiang Zemin, that means they’re going to root out all of Jiang’s influence in the army.”
7. 人民日报任理轩：认识把握共产党执政规律的新飞跃–
8. How to Save the U.S.-China Relationship – Evan Osnos -The New Yorker Even after four decades, American officials are sometimes startled when Chinese counterparts pose basic questions about American governance. A senior official told me recently, “That clearly expresses a kind of curiosity, along the lines of, ‘How does it really work here?’ Which you can read as a heartening curiosity about the other guy, and what that means for the possibility of interactions down the road.” But, he added, “It’s also frightening, given the possibility of conflict.” We are entering a more dangerous era, in which neither side can afford to misread the other. // And the US knows even less about Chinese decision-making now…One issue that needs to be addressed in all the talk about the future of the US-China relationship is what if Beijing really believes that the US is in terminal decline and so will see any of the suggested accommodations as just signs of US weakness and proof of the belief that the US is in decline?
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