Caixin Weekly
July 10, 2017
Rural Depression
China is home to an estimated 61
million left-behind children whose
parents have left home to seek work
elsewhere in the country. The children are mainly in the
care of their grandparents and although their basic physical
needs are met, their psychological needs are largely neglect-
ed. According to statistics from the Rural Education Ac-
tion Programme released by Peking University and Stan-
ford University in April, 2016, 24.5 percent of caretakers
of infants and small children in rural areas have a tendency
to suffer from depression, including 1.8 percent who have
severe depression. The heavy work, poor conditions as well
as the lack of emotional support lead to the prevalence of
depression. Experts warned that while China’s urbanisa-
tion boom has lasted for more than 30 years, the binary
structure of urban and rural areas remains the same, forcing
many migrant workers to abandon their offspring in rural
areas because when they reach urban areas they face rising
housing prices and a shortage of educational resources and
medical care.
China Economic Weekly
July 11, 2017Overseas M&A
Official statistics showed that Chinese enterprises conducted
438 overseas merger and acquisition transactions in 2016, with
a total volume of US$215.8 billion – mostly funded by bank
loans. Since November, 2016, however, the State Administra-
tion of Foreign Exchange required that any overseas M&A transactions larger than
US$5 million dollars have to be approved first – the previous threshold was US$
million. What’s more, favourite investment areas for Chinese enterprises including
the film and entertainment industry, football clubs and real estate programmes were
virtually halted in early 2017. From January to May 2017, Chinese enterprises have
invested in 145 countries and regions with a volume of nearly US$35 billion, a 53 per-
cent decrease year on year. It is increasingly difficult to make a profit through overseas
M&A and some enterprises are allegedly transferring assets overseas under the guise of
M&A, a method which government agencies are struggling to oversee and regulate.Xinmin Weekly
July 5, 2017Nanny Concerns
Along with the growing wealth of the public and their quick-
ening pace of life, nannies, once only hired by rich families, are
common in many Chinese households. After China ended the
One Child Policy, nannies have become increasingly popular and there is a shortage
of nannies in many urban areas. However, negative news stories involving nannies
frequently hit the headlines. One high-profile case in Hangzhou, Zhejiang Province,
grabbed the nation’s attention recently. A nanny deliberately started a fire that killed
the mother and her three children, igniting a new crisis of trust nationwide. Official
statistics show that there were over 20 million nannies in 2015, many of whom were
laid-off or migrant workers. Experts noted that it is high time for the role of nannying
to be professionalised, and more vocational schools should be established to train and
qualify nannies before they take up their duties.Fangyuan Magazine
June 7, 2017Stealing from the Poor
Corruption related to poverty alleviation programmes usu-
ally involves small amounts of money but generates consid-
erably negative impact. In 2016, in Hunan Province, procu-
ratorate organs at different levels investigated at least 5,675 corruption cases related
to poverty alleviation programmes and covering nearly 8,000 people, including the
embezzlement of agricultural machinery subsidies, relief funds and the basic living
allowance. Low-level officials in rural areas accounted for the majority of the corrupt
group and officials at various departments are involved. What’s more, many sus-
pects come from the same work unit. The growing level of government investment
in poverty alleviation, coupled with a lack of disclosure of government affairs, local
officials’ low legal awareness as well as the difficulty in evidence collection has made
corruption in poverty alleviation projects widespread.Many Chinese fondly remember the scene on July 1, 1997, when
the flag of China was raised at the Hong Kong Convention and
Exhibition Centre and history began a new chapter. Back then,
China was deepening its Reform and Opening Up Policy and Hong
Kong, as one of the four Asian Tigers, had maintained an eco-
nomic boom for 30 years. 20 years since the handover and under
“One Country, Two Systems,” Hong Kong and the Chinese main-
land have cemented political, economic and cultural ties. In 1997,
Hong Kong’s GDP accounted for nearly a quarter of that of China.
Now, it has shrunk to 2.77 percent. Since the handover, there have
been great achievements made by the people of Hong Kong, but
concerns and uncertainties abound and it remains a challenge for
Hong Kong to adapt to the change and find its rightful place. The
solution lies in further integration and cooperation to break the
political barriers and enhance mutual trust which will be a boon
for the public on both sides.
ChinaReport, Chinese Edition
July 10, 2017
20 Years of Hong Kong