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Beijing ReviewBeijing Review

Beijing Review

Vol. 62/No.40-41

Beijing Review is China's only national newsmagazine in English. It is published every week in Beijing, by the China International Publishing Group (CIPG). Launched in March 1958, Beijing Review reports and comments on the country's social, political, economic and cultural affairs, policy changes and latest developments. It also offers in-depth analysis on major regional and international events, and provides consulting and information services.

Beijing Review
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beijing review

President: Li Yafang Vice President: Luo Xianyong Associate Editors in Chief: Li Jianguo, Ding Zhitao Assistant President: Li Zhenzhou Executive Editor: Yan Wei Associate Executive Editors: Zan Jifang, Liu Yunyun, Ding Ying Production Director: Yao Bin Editorial Administrators: Zeng Wenhui, Shi Bosen Assistant Executive Editor: Li Fangfang Commentator: Lan Xinzhen Opinion/Culture Editor: Ding Ying World Editor: Yu Lintao Nation Editor: Zan Jifang Business Editor: Deng Yaqing Web Editor: Li Nan Editorial Consultants: Rebeca Toledo, Sudeshna Sarkar Staff Reporters: Tang Yuankai, Wang Jun, Pan Xiaoqiao, Yuan Yuan, Wang Hairong, Ji Jing, Lu Yan, Wen Qing, Li Qing, Li Xiaoyang, Ma Miaomiao, Zhang Shasha Visual Director: Pamela Tobey Photo Editor: Wang Xiang Photographer: Wei Yao Art: Li Shigong Design Director: Wang Yajuan Chief Designer: Cui Xiaodong Designer: Zhao Boyu Proofreading: Ma Xin, Hou Beibei Distribution Director: Hu Keqiang Human Resources: Zhang Yajie Marketing/PR Director: Pan Changqing Legal Counsel: Yue Cheng North America Bureau Chief: Yu Shujun Tel/Fax: 1-201-792-0334 E-mail: yushujun@bjreview.com Africa Bureau Chief: Li Jianguo Tel: 27-71-6132053 E-mail:…

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seventy glorious years

October 1 marks the 70th anniversary of the founding of the People’s Republic of China (PRC), and in honor of this historic event, Beijing Review’s cover stories in this issue review China’s social and economic progress over the past seven decades. In order to understand contemporary China, one has to know about the course China has traversed. It is a transient moment for history but for the Chinese people, the past 70 years have been a time of victory over poverty and a march toward national renewal. The Chinese have weathered all kinds of storms and difficulties to make tremendous achievements. China’s economic growth has soared over the past 70 years. In 1952, China’s GDP was $30 billion and there were only a few factories. The country had to rely on imports for…

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Harvest Season Farmers harvest crops in Mayinghai Village, north China’s Shanxi Province, on September 21. The Chinese farmers’ harvest festival is celebrated on the autumn equinox, which fell on September 23 this year. Human Rights A white paper on China’s progress in human rights over the past 70 years was published on September 22. The white paper, Seeking Happiness for People: 70 Years of Progress on Human Rights in China, was released by the State Council Information Office. “Living a happy life is a primary human right,” the document said, adding that the rights to subsistence and development are regarded as primary and basic human rights in China. People’s rights have been improved in a coordinated manner since the founding of the People’s Republic of China in 1949, especially after the 18th National Congress of…

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Capital Inflow Foreign capital inflow into China’s A-share market remains robust since the beginning of September after major global benchmarks announced widened inclusion of A-shares. Net foreign capital inflow reached 45.9 billion yuan ($6.5 billion) since the beginning of September through stock connect schemes with the Shanghai and Shenzhen stock exchanges, according to a report released on September 20 by Economic Information Daily. The figure accounts for about 27 percent of foreign capital inflow since 2019, which stood at 167.4 billion yuan ($23.5 billion). The influx came after global index provider MSCI raised the index weighting for Chinese A-shares from 10 percent to 15 percent, effective from August 27. Another benchmark FTSE Russell strengthened the weighting in one of its indices from 5 percent to 15 percent, while the S&P Dow Jones Indices weighed 1,099…

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UNITED NATIONS UN Secretary General Antonio Guterres speaks at the opening ceremony of the UN Climate Action Summit 2019, where he urged concrete action amid a worsening climate crisis, at the UN Headquarters in New York on September 23 GERMANY People enjoy beer during the first day of Oktoberfest 2019 in Munich on September 21 SYRIA A dancer performs a traditional whirling dance during a celebration marking the International Day of Peace at Umayyad Square in Damascus on September 21 KENYA People stand at the scene where a classroom collapsed in Nairobi on September 23. At least seven students were killed and 59 others injured UNITED STATES Kristalina Georgieva, CEO of the World Bank, attends a press conference at the International Monetary Fund (IMF) Headquarters in Washington, D.C. on September 25. She was approved as IMF managing director for…

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people & points

NEW HEAD OF AGRICULTURAL BANK Zhang Qingsong, President of the Export-Import Bank of China (EXIMBC), will leave his position to fill the same role at the Agricultural Bank of China (ABC), according to China Securities Journal on September 23. Born in 1965, Zhang graduated from the People’s Bank of China’s School of Finance, Tsinghua University in 1990 with a master’s degree in economics, after which he worked at the Bank of China (BOC). During his 30-year tenure at BOC, he gained abundant experience in various departments including clearing, global markets and asset-liability management. Between 2011 and 2014, he was the general manager of the BOC Singapore branch. In 2016, Zhang was promoted to vice president of BOC and was transferred to the EXIMBC to serve as vice chairman and president. ABC is one of Big…