From: gaojeng@durras.anu.edu.au (J. Gao)
Subject: CND 24-7-92 FRI
Summary: CND
Keywords: CND
Organization: Computer Services Centre, Australian National University
Date: 24 Jul 92 04:42:16 GMT

             * * *  C h i n a   N e w s   D i g e s t  * * *

                             (News Global)

                         Friday, July 24, 1992

Table of Contents                                               # of Lines
--------------------------------------------------------------------------
1. News Brief (2 Items).................................................25
2. Government Orders Slowdown in Bank Loans for Second Half of 1992.....32
3. Chen Yun Backs More Reform, Warns of Problems........................55
4. China to Make Southern Island Experimental Economic Zone.............25
5. What's in Today's Hua Xia Wen Zhai #69 (cm9206d).....................27
--------------------------------------------------------------------------

--------------------------------------------------------------------------
1. News Brief (2 Items).................................................25
--------------------------------------------------------------------------
[AP-DJ, 7/22] TAIPEI -- Taiwan brushed aside China's  criticism  Wednesday
of  a  new  Taiwanese  law that regulates ties with the mainland and urged
Beijing to recognize this island as a political entity.  "It is undeniable
that  this government has existed for 81 years and has the legal authority
to make the law, " said Chu Wu-hsien, director of the legal and  political
affairs  department  at  the Mainland Affairs Council.  "It is also a fact
that China was separated into two regions in 1949,"  he  said.  Under  the
law,  Taiwan would allow direct transportation, mail, and trade links with
China when China recognizes the Nationalist government as a political  en-
tity, agrees to solve disputes peacefully, and respects Taiwan's status in
international society. (From: Jian Liu)
                        ____  ____  ____  ____

[AP-DJ, 7/23] BEIJING -- China on Thursday  called  "absolutely  unaccept-
able"  attempts  by  the U.S. Congress to attach conditions Beijing's most
favored-nation (MFN) trading status.  The Chinese Foreign Ministry said in
a  statement:  "Any attempt, through legislation, to stop granting the MFN
status to China or attach conditions to the granting is  contrary  to  the
principle  of mutual benefit in trade, and is thus absolutely unacceptable
to us." It reiterated China's position that MFN "is a reciprocal and mutu-
ally  beneficial  arrangement."  The statement was carried by the official
Xinhua News Agency. As reported, the  U.S.  House  of  Representatives  on
Tuesday  passed a bill requiring the Chinese government to improve its hu-
man rights and trade practices in return for retaining most-favored nation
trade status. The vote was 339-62. (From: Jian Liu)

--------------------------------------------------------------------------
2. Government Orders Slowdown in Bank Loans for Second Half of 1992.....32
--------------------------------------------------------------------------
From:    Jian Liu
Source:  AP-DJ, 7/20/92

BEIJING -- Chinese banks loaned twice as much  money  as  planned  in  the
first half of 1992 and the government has ordered a slowdown in the second
half of the year, a state official said Monday.

Zhang Zhongji, spokesman for the State Statistical Bureau, said loans from
January  to  June totaled 120 billion yuan, when the target was 60 billion
yuan.  He said the number of new projects started up also  was  too  high,
with the state sector alone investing 1 trillion yuan in new construction,
up 18.8% from the same period of last year.

Speaking to a news conference, Zhang insisted that inflationary  pressures
remained  under  control.  The official price index was up 5% in the first
half of the year over the same period of last year, the  biggest  jump  of
three years.

Zhang said the government has ordered banks to cut back loans to unprofit-
able  companies  and construction projects not approved by central or pro-
vincial authorities.

Zhang acknowledged that under the current boom, raw material supplies  are
growing  tight  and China's railroads are unable to cope with the surge in
shipments. "Because deep-rooted problems in the  economic  structure  have
not been resolved, the present acceleration of economic development is not
on a sound foundation," he said.

However, Zhang insisted the economy could stand the pressures for  two  or
three  more years before seeing a repeat of 1988's shortages, panic buying
and nearly 40% inflation.

Zhang refused to say how many workers have lost their jobs or  been  reas-
signed  to  lower-paying  jobs in the current drive to make factories more
efficient.

--------------------------------------------------------------------------
3. Chen Yun Backs More Reform, Warns of Problems........................55
--------------------------------------------------------------------------
From:    Chongyu Hua <cyuhua@ncsa.uiuc.edu>
Source:  UPI, 7/23/92
By:      Nick Driver

BEIJING -- China's most powerful conservative leader issued  cautious  and
carefully  worded  praise for recent economic reforms, yet warned of prob-
lems arising from the development of capitalist economic  zones,  official
reports said Thursday.

Chen Yun, an economic  specialist and leader of the  so-called "hard-line"
faction  of  Communist Party elders, published his comments in a eulogy to
former president Li Xiannian, a conservative who died last month.

The article, carried in all major state-run newspapers,  acknowledged  the
speedy  development  of  Shenzhen, the most successful of the four Special
Economic Zones but also a haven for prostitution, crime and  other  social
ills.

"Shenzhen's economy has already changed from a basic import type to an ex-
port  one,  high-rise buildings have gone up, and the development has cer-
tainly been rapid," Chen noted.

Senior leader Deng Xiaoping made a special tour of Shenzhen, which borders
Hong Kong, at the beginning of the year to launch a campaign to revive the
country's market-oriented reforms. The region's success has hinged on  his
backing.

Chen, long the guru of central economic planning in China,  said  "certain
practices,  which  proved  effective  in the past, are no longer useful in
light of the new situation resulting from the policies of reform and open-
ing to the outside world."

Many  conservative  leaders,  however,  have  also  voiced  concern   over
Shenzhen's high prostitution and crime rate, opposing the enclave's swash-
buckling brand of capitalism.

The 86-year-old Chen tempered his statement with a note of caution,  warn-
ing of the complexities of economic change.

"The present scale of economic construction is much greater and more  com-
plicated  than  before," said Chen, adding "we must solve problems as they
occur."

Chen Yun is thought to be the second most  powerful  man  in  China  after
Deng.  While he is confined to a wheelchair and is in poor health, he con-
tinues to wield power.

In his emotional eulogy, Chen memorialized Li as a great Communist  and  a
pivotal  character in the 1976 fight to rid the government of the "gang of
four," a group of radicals led by Mao Tse-tung's wife Jiang Qing.

Chen further urged his fellow leaders to routinely consult with one anoth-
er  on the further development of the country, using a strong commendation
of Deng Xiaoping's role in the 1976 crisis to make his point.

"Comrade Xiaoping intimated to (Li Xiannian and another leader) that  they
should solicit opinions among the old leaders," the article said.

--------------------------------------------------------------------------
4. China to Make Southern Island Experimental Economic Zone.............25
--------------------------------------------------------------------------
From:    Jian Liu
Source:  AP-DJ, 7/23/92

HONG KONG -- China will make the southern island of Donghai  in  Guangdong
province  an experimental zone for economic open-door policies, a Beijing-
backed newspaper reported Thursday.

In a dispatch from the nearby coastal city of Yanjiang,  the  Wen  Wei  Po
newspaper  said  Donghai  would  become  a major port, international trade
center and processing zone within 20 years.

No specific plans were detailed, but the report said the government  would
grant  various preferential policies to Donghai, located about 400 kilome-
ters south of Hong Kong.

Covering an area of 286  square  kilometers,  Donghai  is  China's  third-
biggest  island,  trailing  only nearby Hainan province and Chongming near
Shanghai.

The report said Donghai, a flat, heavily forested island, would  be  suit-
able  for  steel,  chemical and other heavy industries. With two-thirds of
its 90-kilometer coast offering 40-meter-deep waters, Donghai and its gen-
tle winds and waves should also be favorable for shipping and tourism, the
article said.

China currently has five special economic zones, all located in the south.
The  zones  are driven by market-oriented forces and have far outpaced the
economic performances of other parts of the country.

--------------------------------------------------------------------------
5. What's in Today's Hua Xia Wen Zhai #69 (cm9206d).....................27
--------------------------------------------------------------------------
>From: CND Hua Xia Wen Zhai Editorial Board < cnd-cm@djohn-sun.kent.edu >


                Hua Xia Wen Zhai (CND Chinese Magazine)
                              Issue #69
                            July 24, 1992

------------------------------------------------------------------------
                      Table of Contents (cm9207d)
------------------------------------------------------------------------
1.  Quotations:  Glittering Pearls
2.  Biography:  Zhang Weiguo (Part 2 of 2) .......................Hu Nan
3.  In Real Life:  Humor That Penetrate Thin Wall ............Tong Muyie
4.  Prose:  Ode to Joy / Cuckoo ...........................Liao Fengming
5.  Unique Couplets:  For Marriage among Teachers ..........Li Shengxian
6.  New Stories in the World:  Beggars ...................Ding Guangquan
                               The Pleasure Inside ..........Wang Huiyun
7   Humorous Riddles ( 3 Items )
8.  Essay:  On the Arizona Desert .............................Chen Jian
9.  "We"(Wo3 Men2):  Varieties of Patriotism and Nostalgia ....Xiao Ying
10. Essay in Series:  To Leave or to Stay (Part 2 of 3) .....Huo Yunping
------------------------------------------------------------------------
      Executive Editor:  Zhang, Yalin <cnd-cm@djohn-sun.kent.edu>
------------------------------------------------------------------------
   See the box below for subscription information. To seek technical
      help, send your questions to <cnd-help@djohn-sun.kent.edu>.
   ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

+------------------------------------------------------------------------+
|             Executive Editor:      Junjie Hu       (U.S.A.)            |
+------------------------------------------------------------------------+
| China News Digest (CND) offers the following services:                 |
|  (1) Global News (Daily)            (2) US Regional News               |
|  (3) Canada Regional News           (4) Europe & Pacific Regional News |
|  (5) Hua Xia Wen Zhai (Weekly Chinese Magazine)                        |
|  (6) Several Information Packages                                      |
| For subscription information, mail to:   cnd-info@djohn-sun.kent.edu   |
| News contributions should be sent to:  cnd-editor@djohn-sun.kent.edu   |
+------------------------------------------------------------------------+

Newsgroups: aus.culture.china