Changing China
Giant on the move
National Day magistry
First the Olympics and now National Day — China is once more tightening the screws on foreigners living in Beijing, with random identity checks and restrictions on movement, because of worries about security ahead of the 60th anniversary of the Communist Party coming to power, on Oct. 1.
Of course for Chinese, the burden is far heavier when it comes to these controls. Foreigners are generally given much more leeway in China, possibly because many police are uncomfortable dealing with the hassle of language and cultural barriers.
But those who live in the alleyways close to Beijing’s main thoroughfare, Changan Avenue, are in the heightened security zone on either side of the military parade that will be the centerpiece of the day’s celebrations.
Instead, foreigners are being given an order that offers a humourous but sharp reminder of how authoritarian China’s government can still sometimes be.
The messages being relayed by the police can be summed up this way: Stock up on food, take your passport everywhere and no guests are allowed.
Here is a copy, in the original English, of a notice being given out in one part of central Beijing, issued for “the pleasure” of residents’ “happy life”:
ANNOUNCEMENT
The Other China Stimulus
By Zhou Xin
As the world watches how Beijing’s $585 billion stimulus package can create opportunities for investors, they might be overlooking another mini-stimulus that is coming in a matter of weeks: the lavish celebration the government will be staging to mark the 60th anniversary of the founding of the People’s Republic of China on Oct. 1.
On top of what is expected to be a huge military parade through central Beijing, massive firework displays are expected to light up the capital and other big cities around the country.
Although overall spending figures are secret, speculation about the windfall profits that the country’s only listed fireworks firm could reap from the event have caused its share price to, well, explode over the last month or so.
Panda Fireworks shares have more than doubled in value over the past month, even amid a more than 14 percent fall in the benchmark Shanghai Composite Index over the same period. (See the chart plotting their values and relative performance.)
The company, which had revenue last year of about 173 million yuan ($25 million) and profits of 13.6 million yuan, announced on Monday that it was “engaged in some bidding” that would add 5-10 million yuan to its profits this year.
@sdagsdagasg
I know three people who were refused registration, so it’s nothing to do with translation. The display was impressive, but the restrictions terribly inconvenient. The airport was closed for three hours (understandable) but people whose flights were delayed got no compensation if they missed onward connecting flights.