Optimism in the Year of the Ox

FROM BEIJING EXPRESS: CELESTE FONG
THE Chinese call the first day of the year Yuandan and observe three days of public holidays from New Year’s Day.

It’s a long weekend during which all commercial areas, like the flourishing shopping hubs in Wangfujing and Xidan, are packed with crowds as usual.
According to media reports, the Wangfujing Department Store (Group) Co Ltd achieved total sales of 4.5 million yuan in just two hours after opening for business on Yuandan.
Another departmental store’s sales exceeded 30 million yuan in the morning alone.
“I doubt the huge figures,” said a friend who dropped by the Beijing Blue Island Mansion, a popular shopping choice for locals here, after she noted that the crowds were half the usual size of that seen the previous year.
She made a trip to the Beijing downtown area to make her own observations but ended up shopping like the rest.
“They are really buying! Some shops are giving up to 55% discounts and Lunar New Year is coming!” noted my friend excitedly.
The mood could be created by the coming Lunar New Year or as a result of the Chinese government’s efforts to boost domestic demand during days of economic slowdown.
According to a worldwide survey, China has the second highest level of optimism after Kosovo while the people in Hong Kong are the gloomiest about the prospect for 2009 than anyone else in the world.
The Chinese are indeed greeting 2009 with lots of positive feelings. After all, it’s the Year of the Ox in the lunar calendar.
The ox is associated with a bull market, which means much hope is placed on investment prices rising faster than recent averages.

The Chinese are also having fun punning with the word niu (ox).

Among the Yuandan greetings I have received include: Happy Niu (Ox) Year and Niu nian geng niu (A greater year for the Year of the Ox).”
I wish the Niu year will indeed be geng niu by highlighting what is great and pointing out what should be changed.
I hope to write more fun and human interest stories from everyday events to get through the hard days anticipated ahead.
Among the topics that I am looking forward to covering include how China will revamp its food safety system, its medical insurance for the people and the revival of good traditional values.
The Lianghui (the annual legislative meetings of the NPC and CPPCC) in March, the post-Wenchuan earthquake rehabilitation and reconstruction and how China is going to maintain growth would also make interesting reports.
I also hope to look at Macau’s elections for the third term of the Chief Executive under the newly enacted Voter Registration Law, Chief Executive Election Law and Legistrative Assembly Election Law besides warmer ties between the mainland and Taiwan and post-Olympics China.
Best wishes for 2009!