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Nearly 2，000 local people assembled at the ruins of a middle school in Yingxiu Town， Wenchuan County of southwest China’s Sichuan Province， on May 12， to mourn victims of the 8.0-magnitude earthquake that struck there five years ago.
Lottery Sales Boom
A man checks his lottery ticket in Xinjiang County， Shanxi Province.
China’s lottery ticket sales rose 21.1 percent year on year to 28.56 billion yuan （$4.65 billion） in April， according to data released by the Ministry of Finance on May 15.
The ministry attributed the jump to the release of new lottery games， the promotion of quiz-style games and more outlets for online lottery games.
Job-Hunting Support
The Central Government outlined measures to help college graduates in their job hunts on May 15 amid this year’s grave employment situation.
According to a statement released after a meeting of the State Council， China’s cabinet， about 6.99 million college students will graduate this year.
The State Council called for the implementation of existing policies favorable to graduates’ employment， broadened ways and increased job vacancies， and for guiding graduates to seek jobs in small and mediumsized enterprises， private businesses and at the grassroots level.
The Central Government also encouraged graduates to turn toward self-employment and start their own businesses， promising to provide training subsidies， petty loans， tax breaks and other incentives.
Employment services should also be improved， according to the statement， which added that graduates from low-income families will receive financial assistance.
‘Left-behind’Children
Nearly 100 million rural Chinese children’s parents work in cities， according to a special report released by the All-China Women’s Federation on May 9.
The report， titled Research Report on Rural Left-Behind Children and Migrant Children， said that the number of “left-behind” children cared for by elderly relatives in the countryside hit 61.02 million as of 2010， accounting for 37.7 percent of rural children and 21.88 percent of the country’s child population. The figure was 2.42 million more than that in 2005.
The number of migrant children， which refers to children migrating with their parents to other places， neared 36 million in 2010， an increase of 41 percent compared with 2005， according to the report.
New Media
China has the world’s largest new media market， highlighted by the country’s growing Internet penetration and a vibrant range of new media applications， according to an industry report published by Xinhua News Agency on May 15.
China has made great strides in pushing development in sectors that are key to the emergence of new media， such as mobile telecommunications and information technology， says the Report on China’s Rising New Media.
Data from the China Internet Networks Information Center show that China’s online population had reached 564 million as of the end of last year， with the number of mobile Internet users hitting 420 million.
The fast expansion of network coverage has fueled a surge in the variety of Internet applications， ranging from instant messaging and video-sharing to shopping and banking， as well as social networking.
The growing number of applications will help new media become China’s most significant social and information platform， the report says.
Low-Rent Housing
The Chinese Government has allocated 8 billion yuan （$1.3 billion） to support low-rent housing projects in 2013， the Ministry of Finance （MOF） announced on May 15.
The funds will provide subsidies for the rental， purchase or rebuilding of low-rent housing units.
Of the total， 4.33 billion yuan（$704 million） and 3.41 billion yuan（$554 million）， respectively 54.2 and 42.7 percent of the total， went to the country’s central and western regions. East China， the country’s most developed region， received the remaining 253 million yuan （$41 million）， according to the MOF.
High-Up Experiment
Chinese scientists have launched a sounding rocket to conduct an experiment in Earth’s upper atmosphere.
The National Space Science Center under the Chinese Academy of Sciences announced on May 14 that the rocket blasted off at 9 p.m. on May 13 from Xichang Satellite Launch Center in southwest China’s Sichuan Province.
The experiment was designed to investigate energetic particles and magnetic fields in the ionized upper atmosphere and near-Earth space.
According to a preliminary analysis by the center， the experiment has reached expected objectives， allowing scientists to obtain data on the atmospheric environment at extreme altitudes.
Mo’s New Job
Nobel Prize winner Mo Yan was appointed director of the International Writing Center of his alma mater， Beijing Normal University. Shanghai Free Trade Zone
City planners in Shanghai have set aside 28 square km in Shanghai’s Pudong District for a free trade zone， including the Waigaoqiao Free Trade Zone， Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone.
The area is almost the same size as Macao， and its trade volume already topped $100 billion last year， the highest on the mainland.
A new economic order will be established in the area with its own set of rules for commerce and finance. Authorities believe the tentatively named Shanghai Free Trade Zone will have even more of an impact than other such entities found in Shenzhen， southern Guangdong Province， and Tianjin.
The free trade zone is expected to begin its first phase of operations later this year.
Tencent’s Outperformance
Tencent Holdings Ltd.， China’s largest Internet company by revenue， released strong first-quarter results on May 15 and posted high growth in app subscriber numbers.
Net income rose 37.1 percent to 4.04 billion yuan （$657.9 million） at the end of March this year compared to the same period in 2012， while it showed a 16.8 percent increase from 3.46 billion yuan （$562.9 million） at the end of last year， said the Shenzhen-based company.
Tencent is known for QQ， China’s most popular instant messenger， and WeChat， a free instant messaging app for smartphones.
“We are integrating new services into Wechat to explore emerging business opportunities on the mobile Internet. In addition， we will continue investing in user acquisition activities for WeChat in international markets，”the company said on May 15.
Record-High Bad Loans
Bad loans from Chinese banks reached their highest level in four years by the end of March， according to data released by the China Banking Regulatory Commission（CBRC）， the country’s banking sector regulator， on May 15， while their total assets rose by 17 percent.
Outstanding non-performing loans， or NPLs， stood at 526.5 billion yuan （$85.67 billion）， up by 33.6 billion yuan （$5.47 million） from the end of 2012， while the ratio of bad loans to total lending rose by 0.01 percentage points to 0.96 percent， during the first quarter of the year.
Bad loans have now increased for a sixth straight quarter—the longest deterioration streak in at least nine years.
Total assets of the banking sector stood at 141.3 trillion yuan （$22.99 billion）， meaning total banking assets have increased fivefold in the past decade. Shang Fulin， CBRC Chairman， warned the bad loan levels are likely to continue rising.
The soured-loan increases were reported across all categories， including among state-owned lenders， joint stock banks and regional banks in cities and rural areas.
Major state-owned banks experienced the biggest jump， as their NPLs rose by 14.6 billion yuan （$2.38 billion） during the quarter. Their ratio of such loans to total lending dropped by 0.01 percent to 0.98 percent.
Joint stock banks reported the biggest increase in their NPL ratio， by 0.05 percent to 0.77 percent， while the amount of their bad loans went up by 9.9 billion yuan （$1.61 billion）.
“The rise in non-performing loans is a natural result of an economic slowdown， with increasing defaults among companies， especially small and medium-sized enterprises，” said Guo Tianyong， Director of the Research Center of the Chinese Banking Industry at the Central University of Finance and Economics.
However， he suggested the current increase in soured loans was still mild， and the amount may decrease in the following months， as the economy stabilizes.
Fiscal Revenue Drops
The Central Government fiscal revenue fell in April as business tax income dropped but booming home transactions lifted local government coffers， the Ministry of Finance said on May 13.
The Central Government’s revenue fell 2.2 percent to 535.7 billion yuan （$87.1 billion） from a year earlier， after slipping 0.2 percent in March. It is the first time that the Central Government has seen its revenue shrink for two consecutive months since September.
The ministry attributed the decline to a “very slow” increase in corporate tax and a decline in tariffs from imports.
The ministry cautioned that fiscal revenue will be under pressure this year due to a likely slower industrial output growth， worsening corporate profits and structural taxcutting measures.
However， the local government revenue rose 14.7 percent to 607.4 billion yuan （$98 billion）， 1 percentage point faster than in March， as housing transactions rose and tax revenue boosted， according to the ministry.
Ripe and Ready
Workers from the Fuyuan Cooperative in Ninghe County， Tianjin， load fresh peaches in a greenhouse.
The Fuyuan Cooperative uses organic fertilizer to grow peaches that are better tasting and healthier to eat.
Lottery Sales Boom
A man checks his lottery ticket in Xinjiang County， Shanxi Province.
China’s lottery ticket sales rose 21.1 percent year on year to 28.56 billion yuan （$4.65 billion） in April， according to data released by the Ministry of Finance on May 15.
The ministry attributed the jump to the release of new lottery games， the promotion of quiz-style games and more outlets for online lottery games.
Job-Hunting Support
The Central Government outlined measures to help college graduates in their job hunts on May 15 amid this year’s grave employment situation.
According to a statement released after a meeting of the State Council， China’s cabinet， about 6.99 million college students will graduate this year.
The State Council called for the implementation of existing policies favorable to graduates’ employment， broadened ways and increased job vacancies， and for guiding graduates to seek jobs in small and mediumsized enterprises， private businesses and at the grassroots level.
The Central Government also encouraged graduates to turn toward self-employment and start their own businesses， promising to provide training subsidies， petty loans， tax breaks and other incentives.
Employment services should also be improved， according to the statement， which added that graduates from low-income families will receive financial assistance.
‘Left-behind’Children
Nearly 100 million rural Chinese children’s parents work in cities， according to a special report released by the All-China Women’s Federation on May 9.
The report， titled Research Report on Rural Left-Behind Children and Migrant Children， said that the number of “left-behind” children cared for by elderly relatives in the countryside hit 61.02 million as of 2010， accounting for 37.7 percent of rural children and 21.88 percent of the country’s child population. The figure was 2.42 million more than that in 2005.
The number of migrant children， which refers to children migrating with their parents to other places， neared 36 million in 2010， an increase of 41 percent compared with 2005， according to the report.
New Media
China has the world’s largest new media market， highlighted by the country’s growing Internet penetration and a vibrant range of new media applications， according to an industry report published by Xinhua News Agency on May 15.
China has made great strides in pushing development in sectors that are key to the emergence of new media， such as mobile telecommunications and information technology， says the Report on China’s Rising New Media.
Data from the China Internet Networks Information Center show that China’s online population had reached 564 million as of the end of last year， with the number of mobile Internet users hitting 420 million.
The fast expansion of network coverage has fueled a surge in the variety of Internet applications， ranging from instant messaging and video-sharing to shopping and banking， as well as social networking.
The growing number of applications will help new media become China’s most significant social and information platform， the report says.
Low-Rent Housing
The Chinese Government has allocated 8 billion yuan （$1.3 billion） to support low-rent housing projects in 2013， the Ministry of Finance （MOF） announced on May 15.
The funds will provide subsidies for the rental， purchase or rebuilding of low-rent housing units.
Of the total， 4.33 billion yuan（$704 million） and 3.41 billion yuan（$554 million）， respectively 54.2 and 42.7 percent of the total， went to the country’s central and western regions. East China， the country’s most developed region， received the remaining 253 million yuan （$41 million）， according to the MOF.
High-Up Experiment
Chinese scientists have launched a sounding rocket to conduct an experiment in Earth’s upper atmosphere.
The National Space Science Center under the Chinese Academy of Sciences announced on May 14 that the rocket blasted off at 9 p.m. on May 13 from Xichang Satellite Launch Center in southwest China’s Sichuan Province.
The experiment was designed to investigate energetic particles and magnetic fields in the ionized upper atmosphere and near-Earth space.
According to a preliminary analysis by the center， the experiment has reached expected objectives， allowing scientists to obtain data on the atmospheric environment at extreme altitudes.
Mo’s New Job
Nobel Prize winner Mo Yan was appointed director of the International Writing Center of his alma mater， Beijing Normal University. Shanghai Free Trade Zone
City planners in Shanghai have set aside 28 square km in Shanghai’s Pudong District for a free trade zone， including the Waigaoqiao Free Trade Zone， Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone.
The area is almost the same size as Macao， and its trade volume already topped $100 billion last year， the highest on the mainland.
A new economic order will be established in the area with its own set of rules for commerce and finance. Authorities believe the tentatively named Shanghai Free Trade Zone will have even more of an impact than other such entities found in Shenzhen， southern Guangdong Province， and Tianjin.
The free trade zone is expected to begin its first phase of operations later this year.
Tencent’s Outperformance
Tencent Holdings Ltd.， China’s largest Internet company by revenue， released strong first-quarter results on May 15 and posted high growth in app subscriber numbers.
Net income rose 37.1 percent to 4.04 billion yuan （$657.9 million） at the end of March this year compared to the same period in 2012， while it showed a 16.8 percent increase from 3.46 billion yuan （$562.9 million） at the end of last year， said the Shenzhen-based company.
Tencent is known for QQ， China’s most popular instant messenger， and WeChat， a free instant messaging app for smartphones.
“We are integrating new services into Wechat to explore emerging business opportunities on the mobile Internet. In addition， we will continue investing in user acquisition activities for WeChat in international markets，”the company said on May 15.
Record-High Bad Loans
Bad loans from Chinese banks reached their highest level in four years by the end of March， according to data released by the China Banking Regulatory Commission（CBRC）， the country’s banking sector regulator， on May 15， while their total assets rose by 17 percent.
Outstanding non-performing loans， or NPLs， stood at 526.5 billion yuan （$85.67 billion）， up by 33.6 billion yuan （$5.47 million） from the end of 2012， while the ratio of bad loans to total lending rose by 0.01 percentage points to 0.96 percent， during the first quarter of the year.
Bad loans have now increased for a sixth straight quarter—the longest deterioration streak in at least nine years.
Total assets of the banking sector stood at 141.3 trillion yuan （$22.99 billion）， meaning total banking assets have increased fivefold in the past decade. Shang Fulin， CBRC Chairman， warned the bad loan levels are likely to continue rising.
The soured-loan increases were reported across all categories， including among state-owned lenders， joint stock banks and regional banks in cities and rural areas.
Major state-owned banks experienced the biggest jump， as their NPLs rose by 14.6 billion yuan （$2.38 billion） during the quarter. Their ratio of such loans to total lending dropped by 0.01 percent to 0.98 percent.
Joint stock banks reported the biggest increase in their NPL ratio， by 0.05 percent to 0.77 percent， while the amount of their bad loans went up by 9.9 billion yuan （$1.61 billion）.
“The rise in non-performing loans is a natural result of an economic slowdown， with increasing defaults among companies， especially small and medium-sized enterprises，” said Guo Tianyong， Director of the Research Center of the Chinese Banking Industry at the Central University of Finance and Economics.
However， he suggested the current increase in soured loans was still mild， and the amount may decrease in the following months， as the economy stabilizes.
Fiscal Revenue Drops
The Central Government fiscal revenue fell in April as business tax income dropped but booming home transactions lifted local government coffers， the Ministry of Finance said on May 13.
The Central Government’s revenue fell 2.2 percent to 535.7 billion yuan （$87.1 billion） from a year earlier， after slipping 0.2 percent in March. It is the first time that the Central Government has seen its revenue shrink for two consecutive months since September.
The ministry attributed the decline to a “very slow” increase in corporate tax and a decline in tariffs from imports.
The ministry cautioned that fiscal revenue will be under pressure this year due to a likely slower industrial output growth， worsening corporate profits and structural taxcutting measures.
However， the local government revenue rose 14.7 percent to 607.4 billion yuan （$98 billion）， 1 percentage point faster than in March， as housing transactions rose and tax revenue boosted， according to the ministry.
Ripe and Ready
Workers from the Fuyuan Cooperative in Ninghe County， Tianjin， load fresh peaches in a greenhouse.
The Fuyuan Cooperative uses organic fertilizer to grow peaches that are better tasting and healthier to eat.