Nine Most Talked-About Words in 2007

1. Olympics

 

With less than 220 days to go before the 2008 Olympics, the Games certainly ranks first among hot topics in Beijing. In 2007, 13 five-star hotels opened in Beijing, with more 18 coming ahead of the Games’ opening on August 8, 2008. Economy hotels and youth hostels are also springing up in the city, which will supplement star-rated hotels in providing accommodation for an estimated 550,000 additional visitors expected during the summer of 2008. 

The lucky dogs of 2007 are those who successfully booked their 2008 Olympic tickets during the first phase of ticket sales from mid-April to June 30, 2007. The Beijing Olympic Ticketing Center received applications for 5.18 million tickets. A total of 1.6 million tickets were allocated to more than 300,000 people in 2007, and all 26,000 tickets for the Games’ Opening Ceremony sold out, with only one lucky winner for every 21 applicants.

Basketball, diving, table tennis, football and gymnastics were the most sought-after tickets for the sporting events. About seven million tickets were placed on sale to the public for the 2008 Games, with more than 70 percent reserved for domestic sales. Prices ranged from 30 yuan (US$4.07) to 5,000 yuan (US$679.35).

One of the most challenging “job applications” in 2007 was that to become an Olympic volunteer. As of December 4, 2007, about 760,000 people had applied to serve in one of the 2008 Olympic or Paralympic Games-time volunteer positions, but there were only 70,000 jobs available for the Olympic Games and 30,000 for the Paralympic Games. Still, the applications are pouring in; they will end in March 2008. In addition, more than 830,000 people have applied to serve as city volunteers; only 400,000 are needed.

Modern Olympic Games has been closely related with commercials since the 1984 Los Angles Olympic Games, and there is no exception with the Beijing 2008 Olympic Games. In December 2007, CCTV earned a record of more than 8 billion yuan (US$108.7 million) on advertisement pre-sales for 2008. This compares with about 7 billion yuan (US$951 million) for 2006. The upcoming Olympic Games credited with this great increase.

 

2. CPI

 

The CPI (Consumer Price Index) increased month by month in 2007 in China, with the price of pork leading the way. People kidded that they should not eat pork in the Year of the Pig.

This key inflation barometer surged to an 11-year high of 6.9 percent in November 2007 on food price increases, triggering fears that inflation would become more evident. China’s CPI was forecast to be around 4.7 percent for 2007. It would be the highest yearly figure since 1997. To restrain price increases, the government said it would boost the production of necessities and major agricultural products, clampdown on price rigging and extend allowances to low-income residents.

In addition to food price increases, the price of oil also shot up. To maintain reasonable taxi fares, the Beijing Municipal Government increased the monthly taxi subsidy by 110 yuan to 780 yuan per month.

 

3. Houses

 

A 70-square-metre apartment around Beijing’s North Fifth Ring Road cost 500,000 yuan (US$68,500) at the end of 2006, but the price doubled in 2007 to about 1 million yuan (US$137,000) even though the place lies about 20 kilometres from Tian’anmen Square at the city's centre. People were also surprised to find that the most expensive apartment in Beijing is about 53,000 yuan (US$7,572) per square metre, a property alongside the National Swimming Centre (Watercube). Accordingly, rents increased elsewhere, especially in central and highly urbanized areas of the municipality.

 

4. Stock Market

 

Stock holders in China are experienced nail-biting roller-coaster riders, and 2007 gave them little relief. The Shanghai Composite Index rocketed from below 3,000 to a peak of 6,000 in October before dropping to about 4,800 at the end of 2007. From January to September, there were 47.61 million new accounts, nine times the new accounts for all of 2006.

 

5. Public Transport

 

For the first time in Beijing, public transport commuters outnumber car commuters. Figures show that 34.5 percent of the city’s commuters now choose public transport, beating for the first time the number of people opting for private vehicles, who made up 32 percent of the total.

The increase followed a municipal government decision to spend 1 billion yuan (US$136 million) a year slashing subway and bus fares by 33 percent and 60 percent. It is now free to make transfers on the city’s several subway lines.

The day the price-cut took effect in October, the Beijing Subway’s new Line No. 5 went into service. The daily average subway passenger volume instantly increased to 2.48 million, up 910,000 from the daily average of the previous nine months.

 

6. Babies

 

Oh, god…so many babies were born in China in 2007! Some parents believed that the Year of the Pig would bring good luck to their newborn. It is estimated that more than 140,000 babies were born in 2007, while the figure was 129,000 for 2006. 

The monthly salary of an experienced babysitter in Beijing was about 2,500 yuan–3,000 yuan before 2007; in 2007 the rate soared to 3,500 yuan–4,000 yuan. Demand for babysitters reportedly increased by about 20 percent, based on statistics from several large babysitting companies in Beijing.  

Commodities such as milk powders, baby clothes and shoes were in great demand, with prices increasing by about 10 percent.

 

7. CCTV Tower

 

The “two legs” of the new headquarters of China Central Television (CCTV) joined the Beijing skyline in December 2007. The joining of the two leaning towers came amid years of debate about its construction. Arguments mainly focused on feared extra traffic congestion around it in the CBD, its unusual gravitation-challenging design and its high cost. Others described the towers as “daring,” “dramatic,” and “glamorous.”

 

8. Lust, Caution:

 

A film that causes debate, yet wins criticism and praise in equal measure is rare, and this was especially true with Lust, Caution in the watery 2007 film market. Lust, Caution won the Golden Lion at the 64th Venice Film Festival, but stirred the rage of the public in doing so. It was criticized for romanticizing traitors and its boldness in depicting sexual themes.

 

9. Golden Week Holidays

 

After nine years’ golden weeks, the public finally began to tire of the crowds at every turn in the country during the Golden Week Holidays of Labour Day and the National Day. After extended debate, the Golden Week of the Labour Day was cancelled. Rest holidays will be transferred to other traditional Chinese festivals. But the practice for the paid holiday issued by the State Council is still up in the air.