Via Buzzfeed's "The 50 Cutest Things That Ever Happened"
Hanggai is playing at 2 Kolegas tonight, and you should go. Links will always be here. China's Steve Jobs? (He's reportedly now a billionaire.) "Ladies and gentlemen, meet Lei Jun, the jeans-and-black-shirt-wearing billionaire founder of Xiaomi, China's hottest smartphone company. And, if you believe Lei, the next Steve Jobs. // Beijing-based Xiaomi sells an Android smartphone called the MI-One. It's a high-powered phone based on a dual-core processor from Qualcomm but with a price far lower than many comparably equipped phones sold in China. That combination of raw power and a reasonable price tag has attracted huge attention from Chinese consumers: When the phone went on sale last fall, Xiaomi received 300,000 preorders in the first 34 hours. Less than a year after launch the company has sold more than 3 million MI-Ones and counting. The phone is hot. Red-hot. Apple hot." [Forbes] Chinese fans mostly unhappy that Jeremy Lin's leaving the spotlight of the Big Apple, despite: "Analysts have argued that Houston, thanks to its experience with Yao, likely has a better understanding than New York of Lin's off-court value, especially in Asia. That's a notion not lost on users of Sina Weibo, where Lin boasts more than 2.8 million followers. 'The Rockets have tasted the sweetness of having a Chinese element and known the bitterness of losing it,' wrote a Weibo user posting under the name Canglan2010. 'This is a business transaction.'" [WSJ] Corollary: About the Knicks and James Dolan screwing up – read this. [Jay Caspian Kang, Grantland] Corollary: "'I love the New York fans to death,' Lin said. 'That's the biggest reason why I wanted to return to New York. The way they embraced me, the way they supported us this past season, was better than anything I've ever seen or experienced. I'll go to my grave saying that. What New York did for me was unbelievable. I wanted to play in front of those fans for the rest of my career.'" [Sports Illustrated] Corollary: "Jeremy Lin That I Used To Know." [YouTube] Just because you can prosecute doesn't mean you have to. "A 16-year-old boy (at the time of the crime) was in love with a 13-year-old girl and had lived together. Although both parents did not take further legal action, the boy was prosecuted by the authorities. First instance trail convicted him of rape, the court sentenced him 1 year and 3 months imprisonment." [China Hush] I hate mosquitos probably more than anything in the world. "According to a statement from Beijing Centers for Diseases Control and Prevention (CDC) Wednesday, the density of mosquitoes in Beijing has increased by 16 percent compared to last summer. According to monitoring results, more mosquitoes congregate in local residential communities, rather than other environments such as tourist sites or parks." [Global Times] The public official who pissed off a lot of tourists (we linked to this story on Wednesday), has been identified. "On Sunday morning, a jeep carrying Liu Qi, the former mayor of Beijing and the architect of the 2008 Olympic Games, arrived at Mount Changbai accompanied by a single police car. Accordingly, park wardens suspended a shuttle bus to Heaven's Lake, which sits spectacularly in a volcanic crater at the top of the 9,000ft-tall mountain. // Tourists were left waiting in the parking lot, and a crowd of several thousand soon built up. // 'Thousands of people chanted "Refund! Refund!",' according to one witness, who posted several photographs of the scene onto Sina Weibo, China's version of Twitter, and gave her name as Ms Huang." [The Telegraph] Review of Mao's Invisible Hand. "Their answer is something of a shocker, to experts and non-experts alike: The key to the survival and thriving of the Chinese Communist Party lies in its inheritance and continuing practice of Maoist 'guerrilla-style policy making.' That is, Beijing's ability to avoid collapse is not because of the abandonment of the core elements of Maoism but rather due to the continuing practice of it. // This is a rather bold argument. And it needs to overcome a few empirical and theoretical hurdles to be convincing." [Maochun Yu, WSJ] Lip-dub of Beyonce interlude:
Finally… An interview with filmmaker Ou Ning. [Dan Edwards, ArtSpace China] Hidden old Communist bunker. [Atlantic Cities] Here's what Patrick Henri Devillers (of Bo Xilai saga fame) looks like. [WSJ] And Lin Jun's parents (of Luka Rocco Magnotta fame). [Shanghaiist] Finally, finally… Via QQ: Street peddler unable to get chengguan's attention.
Here is today's real-time top 10 search list, recorded at 1:32PM. 1. 游泳队遇色狼 yóuyǒngduì yù sèláng – A 25 year-old man was caught last Friday peeping at the Chinese women's national swim team change room inside University of Leeds. The Chinese swim team has been preparing for the London Olympics at the university. Here's the article in Chinese. 2. 武汉领导坐轿 Wǔhàn lǐngdǎo zuòjiào – Yesterday, photos of two men seated on a raft carried through flooded streets of Wuhan by four men inspired a great deal of attention on microblog platforms. Many online users made snide remarks of the photo assuming the two men perched on the raft as self-important government officials. However, it turns out the two men are just employees of the Wuhan Huangbei District Center for Disease Control with special health needs requiring extra attention during the flooding. Here's the article in Chinese. 3. 小贩抱大腿 xiǎofàn bào dàtuǐ – A photo of a street vendor clinging onto a city management official's right leg struck a nerve with microblog users. The official in the photo appeared coldly indifferent to the vendor's desperate pleas, inspiring enough hate messages online to get himself suspended from duty. Here's the article in Chinese. 4. 进错房抱错姑娘 jìn cuò fang bào cuò gūniang – Last month, an intoxicated man in Anhui province walked into the wrong hotel room and attempted to initiate intimacy with an unknown woman. The young lady bit the man so hard out of self defense that he finally came to his senses and ran out of the room. The 24 year-old was arrested roughly a week later in his home for acting indecently towards a female. Here's the article in Chinese. 5. 劫持北京地铁安检员 jiéchí Běijīng dìtiě ānjiǎnyuán – Yesterday around 9PM, a man dressed in black attempted to kidnap a Beijing subway security check inspector at Hujialou Station exit. The assailant held the inspector captive with a knife pointed to her throat, all the while threatening to kill her. The police team could not successfully negotiate her release, and eventually ordered for the man to be shot. The victim is now safe with her family. Here's the article in Chinese. 6. 女医生害羞 nǚyīshēng hàixiū – In October last year, an elderly man was kicked in the lower regions from a neighborhood dispute and rushed to a local hospital in Anhui's Shucheng county for emergency operation. A female doctor was called in to treat the patient, but upon a quick inspection of his injuries refused to conduct immediate treatment because the part of the body in need of care was "inconvenient" for her to handle. When another doctor was finally ready to conduct the operation the patient's conditions had already deteriorated beyond salvage. The court has recently ordered for the hospital to pay the victim's family a 96,000 RMB fine to compensate for delaying the victim's treatment, contributing to his death from septic shock. Here's the article in Chinese. 7. 裸奔拦车 luǒbēn lánchē – This Tuesday around 7AM, a naked man appeared on the streets of Anhui's city of Hefei, beating at car windows and causing major disruptions in city traffic. More than 20 cars were vandalized within 30 minutes of his unexpected appearance. The man's fists were already severely wounded from his violent tantrum when policemen finally stabilized him. The authorities plan to contact the man's family once the local hospital confirms his mental state. Here's the article in Chinese. 8. 裸身女鬼 luǒshēn nǚguǐ – A young woman with long black hair clad in nothing but a nude-colored underwear and nip-guards turned up at the 4th Annual Shenzhen Animation Festival held this Wednesday. Organizers of the event confirmed that the woman was not invited to be a part of the exhibition, but seemed prepared ahead of time to put on a good show. Many online users are referring to the woman as the "naked female ghost." On the other side of the exhibition room that day, another young woman appearing to be just as naked as the "female ghost," held a sign that read "seeking for a sugar daddy." Here's the article in Chinese. 9. 茉莉死因 Mòli sǐyīn – Internet celebrity and up-and-coming TV personality Molly was found stripped bare and dead in a hotel bed in Guangzhou this Monday morning. The forensic inspection of her corpse suggests that she was raped and killed at around 3AM the night before her discovery. Here's the article in Chinese. 10. 潘秀成 Fán Xiùchéng – Fan Xiucheng has been named to replace Dai Hua as the new Nanjing municipal party committee member and member of the Nanjing standing committee. Here's the article in Chinese.
» Got A Pretty Penny? The China Daily Front Page Can Be Yours Beijing Creamwhen will the washington post sell its front page to the china daily?// In yesterday's edition of China Daily, Louis Vuitton is the front page. Not a story about LV, or a quarter-page ad, or even an ad jacket. Just Louis Vuitton, its address (Plaza 66 Nanjing Xi Road, Shanghai), and the words "Opening July 21."
The Jamestown Foundation: Polar Stakes: China's Polar Activities as a Benchmark for Intentionsperhaps china discovered the arctic as well?// It appears that in polar affairs at least, China achieves many gains out of the current international order, so to classify it as a "reluctant stakeholder" there would be a slight exaggeration. There are clearly areas where China would like to shape international governance to better suit its own national interests. China's ever-growing economic power—at a time when Western governments are under massive financial pressure—is enabling it to strengthen its global influence, in the polar regions as elsewhere. Where new norms are being forged, as in the Arctic and possibly in time in the Antarctic; observers can expect Beijing to be assertive in demanding a right to have a say given its investment.
The Jamestown Foundation: The Soapbox and the Truncheon: Hu Jintao's Amorphous Power To say that Hu has no power would be senseless. To say that he has had to exercise what power he has in a dynamic, changing context, with wholly different levers that his predecessors comes nearer the mark. Hu's objectives have been to deliver growth through stability and reform through a consensus-led, unified leadership without the kind of party-wide strong arm politics of the past. He has had to do this often with the deployment of some unpleasant repressive measures to deal with internal party and national challenges.Hu may have been able to purge Chen Liangyu and Bo Xilai, but his ability to remove the former's challenge did not allow him to place his people at the 17th Party Congress. How Bo's purge affected the power dynamics in the next leadership selection remains to be seen. If anything, these leadership crises have shown Hu by himself is able to operate at the extremes, exhorting rhetorically across the system or picking off individual challengers—broad but ineffectual, narrow but powerful. More institutionalized policymaking may have offered Hu a way to guide policy without being a strong man, but this process also gave his opponents more opportunities to obstruct him. Only time will tell, however, whether the growing stagnancy in the Chinese political system happened because of or in spite of Hu Jintao.
Chinese Feel Burned by Olympic Uniform Controversy – Bloombergharry reid makes yang rui sound reasonable. pathetic// Most commentators focused on what they perceive to be the narrow-minded hypocrisy of cynical American politicians. Take this inflammatory but representative tweet on Sina Weibo, China's most popular microblog, from Yang Rui, a notoriously jingoistic host on the English-language channel of the state-owned China Central Television: I just finished the live London Olympic countdown broadcast. Regarding American senators wanting to burn those "made-in-China" uniforms in an election year, I just said one sentence in the prologue: It's a joke, right? I asked: Would they like to burn those "made-in-China" iPhones? Most iPhones are made in China, so they also take away Americans' jobs? How much does Apple earn in China? This publicity stunt in an election year is so disgusting.
北京：昔日林彪秘密基地 变身军事酒吧-财经网Lin Biao's secret HQ in mentougou is now a military-themed bar. i want to go// 7月18日，北京西郊门头沟水峪嘴村的京西古道景区，植被茂密的深山内隐藏着一座军事工事，距市区仅30公里，是当年林彪的秘密司令部。1968年，林彪在出逃蒙古机毁人亡温都尔汗前，曾短暂使用过这个秘密据点。如今，当地政府开发旅游，将这里改建成了一座名为"0498"的军事主题酒吧。之所以叫这个名字，是因为原先的工事代号为"04"，"98"则是酒吧的谐音。詹敏/东方IC
Bang & Olufsen enrolls partners for China growth | Reuterssparke roll a big deal, interesting move for B&O, could be very good. // Bang & Olufsen said on Thursday it will raise 177 million crowns ($29.2 million) in a share issue to two new partners, privately owned Sparkle Roll Holdings Limited and A CAPITAL, a private equity fund founded two years ago which invests in companies that need to grow in China.
China dissident Ai Weiwei sees no chance of winning tax appeal | Reuters China's most famous dissident Ai Weiwei says he has "absolutely no hope" that a court on Friday will repeal his more than $2 million fine for tax evasion in a case that critics accuse the authorities of using to muzzle the outspoken artist.
Sino-African cooperation, what's the next step? – People's Daily Online The Fifth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) is being held in Beijing from July 19 to 20. People's Daily Online (PD Online) interviewed Ren Xiaoping (Ren), former Chinese Ambassador to Namibia, discussing the significance of Sino-African cooperation and FOCAC.
In China, Researching Companies Gets Harder – WSJ.comso how do investment banks and accounting firms due diligence? oh wait…// Muddy Waters founder Carson Block said that in the course of his investigation into New Oriental one of his employees had been visited by officials from the Ministry of State Security. The Ministry of State Security couldn't be reached for comment. "The message that investigative firms are hearing [from state security] is that we do not want any more work done researching companies, especially public companies," Mr. Block said.
Russia, China Veto Syria Resolution at U.N. – WSJ.comwhat fun revelations await the ransacking of syria's military and intelligence files?// It was the third time Russia and China vetoed a resolution intended to pressure the regime of Syrian President Bashar al-Assad to leave power. The failure of the latest diplomacy points to a growing likelihood that Syria's fate will be decided by bloody clashes in the streets of the capital and not in the halls of the U.N.
Defense guideline targets private investment |Politics |chinadaily.com.cn Defense-related industries will open more to private investors in a "fair and safe manner", according to an investment guideline unveiled on Thursday. Investors and State-owned defense technology enterprises will be treated equally across the board, including licensing and tax, said the guideline, jointly crafted by the State Administration of Science, Technology and Industry for National Defense and the General Armament Department of the People's Liberation Army. The guideline, however, only applies to private investors on the mainland.
Chinese MBO boomlet may take necessary breather | Considered View | Breakingviews Chinese management buyouts may fizzle on Wall Street. A regulatory probe, short-seller allegations, and a profit warning sliced 60 percent off New Oriental Education in the past two days. Though depressed stocks may make it cheaper for U.S.-listed Chinese companies to take themselves private, a spike in financial – and perhaps legal – costs may halt the buyout trend.
三成多企业销售负增长 北京商场经济遭遇挑战|三成多|企业|销售_21世纪网 30% percent of Beijing retails shops showing declining sales, blame placed on internet retailing. secular trend everywhere, not sure why anyone anywhere would invest in bricks and mortar retail
Dependence on Middle Eastern Oil: Now It's China's Problem, Too – Damien Ma – The Atlantic One Chinese commentator, pointing out that U.S. oil imports from the Gulf have plummeted to 15 percent and that domestic gas production rose from 20.2 to 22.4 trillion cubic feet in just three years, argued that these developments give Washington more leverage to push around China through, for instance, Iran sanctions. Meanwhile, a researcher at CNOOC, one of China's big three national oil companies, echoed similar sentiments about America's diminishing role in the Arab world
BBC News – Rural Chinese get online as mobile overtakes desktop Mobile phone prices continued to drop," the report said. "The emergence of smartphones under 1,000 yuan [$157, £100] sharply lowered the threshold for using the devices and encouraged average mobile phone users to become mobile web surfers."
China's Internet users go mobile – Xinhua | English.news.cnand soon most will have smartphones. network and censorship loads will grow exponentially// China is going mobile as mobile phones have overtaken desktop computers as the primary source of Internet access in the country, a report showed Thursday. Some 388 million Chinese were connected to the Internet through mobile phones as of the end of June, compared with 380 million people who connected through their desktops, according to a report released by the China Internet Networks Information Center (CNNIC).
Overseas blockbusters drive China's box office surges in first half – Xinhua | English.news.cnwhy china now making hollywood movies open at same time, to dilute their box offices. china film group under political pressure over this// In the past nine years, domestic films have gained more in ticket sales than overseas films, but the weak performance in the first half is challenging the trend. "The condition is not optimistic for this year," said Zhang, noting a new wave of overseas blockbusters in the next half year such as "Ice Age IV" and the fourth Spiderman sequence "The Amazing Spiderman." Zhang said China's openess to the fierce overseas blockbusters will make Chinese filmmakers sober up. "How can they produce quality films that cater to the audience and generate lakes of cash?" He suggested theaters not lavish too much love on the profitable Hollywood blockbusters and arrange more screens for home-made small-budget films
China will not relax property control policies – Xinhua | English.news.cn China will continue to maintain a firm grip of its real estate market and consolidate previous achievements in bringing down home prices so as to prevent them from rebounding, according to an urgent government notice released Thursday. "Local authorities must strictly implement the nation's property control policies. They should not relax the control and relevant requirements unauthorized," according to the notice.
China reprimands Russia for alleged attack on Chinese fishing boats – Xinhua | English.news.cnUS should not get overly concerned about appearances of Sino-Russian alliances. They hate and mistrust each other// Chinese Vice Foreign Minister Cheng Guoping on Thursday expressed strong dissatisfaction with Russia over an alleged attack on a Chinese fishing vessel, which has left a fisherman missing.
男子北京地铁内劫持女安检员被特警击毙(图)_新闻_腾讯网 man takes security officer hostage in beijing line 10 hujia lou station, Beijing SWAT shoots him dead, frees her "特警总队蓝剑突击队"
The South China Sea: From Bad to Worse | Battleland | TIME.comUS have enough carrier groups to send to S China Sea if things go south, while Syria/Iran/Persian Gulf and Afghanistan all need attention?// Territorial disputes in the South China Sea are about to get a whole lot worse — and at the worst possible time. Whether the U.S. can avoid being dragged into a shooting match will depend on how far Beijing and its unruly mix of military, maritime and natural resources agencies choose to push their claims. And whether China's increasingly frustrated neighbors decide to push back.
All Things Nuclear • China in Focus #6: China is Not the Soviet Union Knowledge of the events that shaped the lives and beliefs of the incoming generation of Chinese leaders is more likely to produce an effective approach to U.S. China policy than imagining their country as "a modern day Soviet Union." It is difficult to predict or influence the behavior of people you don't understand. The Chinese Communist Party does not volunteer a lot of information about itself to outsiders — even to the people it governs — but that is no excuse for the administration's apparent lack of awareness of China's recent past.
SinoNK Dukes of Hazzard Edition: Chasing the General Ri « SINO-NK While our team of analysts at SinoNK has – as yet— been unable to capture any exclusive interviews about the departure of General Ri Yong-ho from Pyongyang's strewn stages, we have surely been reading the Chinese press for clues and new analytical threads. Was there great rejoicing in Zhongnanahai when Ri's fall was announced? Will the General now be blamed for the various impasses with China as regards both missile tests and the abduction of Chinese fishermen by the KPA Navy, or,if the desires of Chinese analysts be met retroactively, perhaps shot as the person responsible? Perhaps, perhaps not. As always, only time and the archives will tell.
Nokia in China: it's all relative | beyondbrics back to China. It's a hugely important market for all phonemakers and a hard one to crack. Even Apple has admitted to getting it a bit wrong there. So what happened to Nokia? According to the company, net sales in the country were down 41 per cent, from €913m in Q2 2011 to €542m in Q2 this year. Device volumes fell from 11.3m to 7.9m – a drop of 30 per cent.
Customs Fraud — China takes this very seriously Overall, in the last six months we have seen an absolutely unprecedented increase in China's tightening down on its laws as they apply to foreigners. (It is possible that China is cracking down on its laws with respect to everyone, but because my law firm just represents foreigners in China or doing business with China, as opposed to Chinese citizens in China, we do not know if that too is the case.) China is shutting down improperly formed WFOEs like never before. Beijing is left and right shutting down WFOEs that do not have the proper facilities or are operating outside their scope of business. And we hardly need to tell you about the recent crackdown on foreigners in China without proper visas. There is an easy explanation for all of this and we have seen it before (though never to such an extent). It's the economy, stupid….Bottom Line: I hate to sound so trite, but the key here really is simple: follow the law no matter what.
政令不畅 中共欲解政法委十年沉疴_多维新闻网duowei seems to be owning the story about politics and law committee reforms// 多维新闻】自2月份王立军事件开始，中国接连发生了陈光诚事件、李旺阳事件以及什邡民众示威等种种让中共感到棘手的事情，而政法系统尤其是地方政府的公检法等政法部门在处理这些事情时的简单、粗暴、无知都成为遭到海内外舆论批评的理由。对此有接近公安部的知情人士对多维新闻透露，实际上公安部及整个政法系统高层都在这一系列事件中承受了巨大的压力，但是摆在中共面前的问题是，在现在整个政法体系中，中央层面和地方组织存在严重脱节的情况，中央精神无法顺畅贯彻到地方之上，造成地方政法官员在遇到此类问题时不知如何去做，只知一味打压，最终往往适得其反、酿成大祸。
China's Growth Still Real but Turning Profitless-Caijing While the resilience of wage growth is a positive trend, the lack of reduction in the fiscal burden and the limited space for private corporates to grow is pushing China into a status of profitless growth.
财新传媒的微博 新浪微博-随时随地分享身边的新鲜事儿caixin says on weibo that tencent will have no role in daily operations or editorial// 财新完成了最新一轮新股融资，欢迎腾讯加入成为股东之一，而浙报控股亦保持原有持股比例不变。腾讯不参与财新传媒的日常运营，财新传媒未来仍会坚守独立专业的采编方针，为广大受众带来高质量的财经新闻和资讯。
China Auto Financing Tripling by 2017 Spurs Vehicle Sales: Cars – Bloomberg Mia Zhao says her parents, part of the generation that came of age in the 1970s, before China introduced free-market reforms, would never spend beyond their savings. Zhao, by contrast, has no problem with debt if it helps her get the things she wants — like an $88,000 BMW 530Li. "Life would be unimaginable without credit," said the 27-year-old dance instructor in Beijing, who bought the car in January. "I don't see why I can't spend future money if I can make the monthly payments."
Tencent grabs stake in Caixin Media — Shanghai Daily | TENCENT, China's largest Internet company by market value, has bought an undisclosed stake in one of the nation's leading business news providers Caixin Media. Caixin Media recently completed a new financing round and introduced Tencent as one of its shareholders, while its other major shareholder Zhejiang Daily Press Group will keep its 40 percent stake, the financial news publisher said on its official microblog toda
China Mouthpiece Xinhua Reports 5.6 Billion Yuan Revenue in 2011 – Bloomberg Xinhua News Agency, China's official news wire, reported revenue of 5.6 billion yuan ($884 million) in 2011, a 72 percent gain from 2010, as the country pushes to expand its influence around the world. The government's doubling of its allocation to Xinhua, to 1.9 billion yuan, accounted for most of the increase, according to the report, which was posted on www.gov.cn. Expenses were a matching 5.6 billion yuan.
California Shark Fin Sales Ban Challenged in Group's Suit – Bloomberg California was sued by San Francisco's Chinatown Neighborhood Association over claims the state's ban on shark fin sales discriminates against people of Chinese origin for whom the fins are a cultural tradition.
China Developers Face 'Significant' Liquidity Woes, KPMG Says – Bloomberg Chinese developers face "significant liquidity issues" and rising funding costs after regulators curbed borrowing through trust companies and property sales fell, according to KPMG LLP. Although there are "indications" that restrictions on real estate trusts may ease soon, the impact is unclear with investor sentiment changing, according to a KPMG report entitled Mainland China Trust Survey 2012. The report, emailed yesterday, didn't elaborate on what the indications are.
China's Security Chief Still on the Job? – China Real Time Report – WSJwere certain western media used by zhou's rivals to smear him?// From appearances at least, China's security chief Zhou Yongkang seems to be firmly in the saddle. Despite reports that he has been forced to hand over day-to-day security affairs because of his support for ousted leader Bo Xilai, he seemed to be earning his pay earlier this week. While he has been seen on numerous occasions in the recent past — meeting visiting foreign delegations, inspecting social service centers or chatting with villagers – his appearance on Tuesday seemed to be an example of the real thing. He was addressing a conference on social stability in the run up to the 18th Communist Party congress later this year – and the leadership transition that will guide China over the next decade.
Top Five: Rock and Roll in China: An Insider's Journey – Scene Asia – WSJ The jaded Western music establishment can learn a thing or two from China, Jonathan Campbell says. The 37-year-old, who spent four years in Beijing as a band promoter, documents the relatively brief history of Chinese rock in his book "Red Rock: The Long, Strange March of Chinese Rock & Roll." "The best of Chinese rock music embodies something that isn't embodied in this part of the world anymore—hope, energy and survival," says Mr. Campbell, who now lives in Toronto. "Rock did change the lives of a lot of people, and Chinese rock demonstrates that."
Fishermen set eyes on South China Sea resources |Economy |chinadaily.com.cn SOUTH CHINA SEA – Chinese fishermen are setting their eyes on the vast and largely untapped fishery resources in the South China Sea with the sail of a big fishing fleet to the region. The fleet of 30 boats, including a 3,000-tonne lead boat carrying fresh water, fuel, and other supply, arrived at Zhubi shoal for fishing on Wednesday, almost a week after it left port in southern Hainan province.
Paulson sees no hard landing for China|Top Stories|chinadaily.com.cn given how well he predicted the 2008 crisis, this mean china in real trouble?// China still has considerable room in which to adjust economic policy and won't face a "hard landing" this year, former US Treasury secretary Henry Paulson said on Tuesday. Just back from a trip to China, the man who led President George W. Bush's 2008 bailout of Wall Street shared observations about the country and his new blueprint for upgrading economic relations between the world's two biggest economic powers. "There's no doubt that the economy has slowed down significantly, and in a number of areas, really slowed down," Paulson said in an address at the Atlantic Council, a think tank in Washington. "My own best judgment is that we're not going to see a hard landing," he added.
the chinese company buying hawker shut production 6 months ago?//2012年7月，青岛民营小老板成身棕，一夜间闻名全球。 链接阅读：【成身棕其人】"并购狂人"成身棕："外行"与"炒作者"？…这一切，源于成身棕运作的一起跨国并购案：他坐镇北京卓越航空工业有限公司（下称"北京卓越航空"），正指挥着聘请的中美律师团队，与拥有80年历史的老牌飞机制造商——豪客比奇飞机公司（下称"豪客比奇"）进行并购谈判，价码高达114亿元人民币…然而，7月16日，本报记者在成身棕旗下企业青岛海利直升机制造有限公司（下称"海利直升机"）现场看到，这家企业由于订单量不够已经停工近半年，院内的杂草长至一人多高。而成身棕的青岛总部，偌大的办公室空空如也，仅9人办公。
Tide turning in China's battle against tobacco – Xinhua | English.news.cn China's Health Minister Chen Zhu on Wednesday became the first person from the Chinese mainland — home to one third of the world's smokers — to receive a prestigious World Health Organization (WHO) award on tobacco control.
Buyers Bet Wen Can't Keep Prices Down as Home Sales Gain – Bloomberg "The possibility that history will repeat remains," Credit Suisse Group AG analyst Vincent Chan said in a phone interview from Hong Kong, referring to past property surges that followed sales increases. A 20 percent to 30 percent rebound is possible if the government, similar to past cycles, "mildly drops its tightening policy," Chan wrote in a July 4 report. Existing home prices in Beijing, Shanghai, Guangzhou and Shenzhen surged 42 percent, 58 percent, 79 percent and 69 percent respectively in the 24 months from February 2009 as China loosened property curbs, according to Credit Suisse… "Transaction volumes have been picking up, that's primarily from first-time home buyers," said Michael Klibaner, Shanghai-based head of China research at broker Jones Lang LaSalle Inc. "Now, with the two interest rate cuts in the last month, the pricing of mortgages has come down too."
Yum Profit Trails Estimates as Costs Increase in China – Bloomberg Yum, which has more than 4,600 locations in China, is facing higher costs for workers and raw materials amid plans to open at least 700 restaurants in the nation this year. Wage rate inflation in China was 13 percent in the quarter and commodity inflation was 6 percent, reducing profit margins.
Muddy Waters Report Sinks New Oriental: China Overnight – Bloomberg New Oriental Education & Technology Group Inc. (EDU) sank to a five-year low, leading declines in New York-traded Chinese stocks, after short seller Muddy Waters LLC said financial statements at its units are fraudulent.
Fears of Chinese media crackdown ahead of leadership transition – Telegraph The apparent toppling of two senior newspaper executives in Shanghai has triggered claims that Chinese authorities are conducting a pre-emptive crackdown on the media in the lead up to this year's crucial leadership transition.
Shifang protest reflects crisis of local rule in China China's feeble public participation system is forcing people onto the streets to protect their environmental interests, as the latest demonstrations in the south-west show. Tang Hao reports.
Tmall Will Make More than $30 Billion in Sales This Year Alibaba's Tmall may have changed its name to Skycat (in Chinese) earlier this year, but it apparently hasn't changed its habit of selling hundreds of billions of RMB worth of stuff. The company broke 100 billion RMB ($15 billion) in sales in 2011, but it continues to accelerate rapidly, estimating it will rack up more than 200 billion RMB ($31 billion) in sales by the end of this year.
Asia Sentinel – Meltdown for Asean over South China Sea Indonesian diplomats scurry across region attempting to put the pieces back together The combination of aggressive Chinese jawboning and Filipino pride are combining to create a diplomatic crisis in the Association of Southeast Asian Nations that Indonesia is trying desperately to untangle.
KPMG localization is a sham | China Accounting Blog | Paul Gillis It turns out KPMG claims to have only 25 partners, of which 15 are locally qualified, allowing KPMG to just meet the 60% localization test. That is a joke. KPMG claims on its website to have 9,000 staff in China. It has hundreds of partners, who are apparently now going by some other title.
Busy times | China Accounting Blog | Paul Gillis Taken together, I think these events indicate that U.S. and Chinese officials may have decided to step back from the abyss and look to find a way to solve the problems related to U.S. listed Chinese companies. There have been increasing indications that China wanted to stop the use of U.S. capital markets by its private companies. Perhaps the best evidence of this is the fact that there has only been one IPO in the past year and it essentially failed. The China Development Bank has been active in taking U.S. listed companies private. Officials were obviously frustrated with entrepreneurs evading Chinese laws through use of offshore companies and VIE structure. It is in the interest of both the SEC and Chinese regulators to shut down the use of the VIE structure and I would not be surprised to learn they are working together on this.
China's Wen Warns of Severe Job Outlook as Growth Yet to Rebound – Bloomberg Premier Wen Jiabao said China's labor situation will become more "severe," underscoring concern that the weakest economic growth since 2009 will lead to increasing job losses. The government will continue to implement a more "proactive" labor policy, Wen said yesterday at a government meeting on employment, according to a statement posted on the central government's website. The job situation will become more "complex," Wen said.
China City Officials Must Reveal Assets for Promotions – Bloomberg A Chinese city seeking to clamp down on corruption ordered officials to disclose all their family assets on an internal website as a requirement for promotion. Officials with the position of section head and higher in the eastern city of Huai'an must disclose all their property, their investment portfolios and the timing and price of vehicle purchases, according to a statement posted on a city government website today. There was no provision in the rules for the assets to be revealed publicly.
State Council's Plan for China 2015: 3G Everywhere, 100 Mbps Broadband China's powerful State Council released a report yesterday that addresses, among many other things, its plans for the development of the web and mobile sectors in China by 2015. The report indicates that by 2015, 3G coverage should be available more or less everywhere in both cities and rural areas. The report also urges the implementation of IPv6 and fiber-optic broadband.
Heads roll at Dongfang Daily after call to restrain government｜Politics｜News｜WantChinaTimes.com One senior official has been sacked from the Dongfang Daily, a Chinese-language newspaper belonging to the Wenhui-Xinmin United Press Group based in Shanghai, while another has been suspended following an article calling for the powers of the government to be reined in, according to Duowei, a news outlet operated by overseas Chinese.
FT Alphaville » China's transmission mechanisms in a knot One of the enduring arguments about China is that the government has ample firepower to sort out the country's economic challenges. All that fiscal surplus, all those USD reserves. Firepower to burn. Yet it's looking increasingly difficult for policymakers to ward off a hard landing without re-igniting inflation and of course, enhancing the country's already extreme concentration on investment rather than consumption.
China's property bounce: mixed blessing | beyondbrics News that Chinese house prices rebounded in June will be welcomed in many quarters. Growth in the second half could get a boost, while it may also help instill a bit more confidence in the general state of the economy. But for policy makers in Beijing, it provides something of a headache. The data showed that even in the first tier cities – Beijing, Shanghai and Guangzhou – prices rose last month, the first such increase in a year. As SocGen's Wei Yao points out, there is also an apparent bottoming in sales, which could allow developers to raise prices further.
In China, Long Wait Leads to Standoff with Officials – NYTimes.com Thousands of people threw water bottles and blocked traffic at a popular nature preserve in northeastern China on Sunday after word spread that the arrival of top Communist Party leaders was causing an hours-long wait to visit a scenic lake. It was one of a string of brash confrontations in recent months between the authorities and Chinese citizens.
Cambodia Frees Frenchman Linked to China Scandal – WSJ.com Mr. Devillers flew to Shanghai late on Tuesday night after Cambodian authorities released him without charge at the "suggestion" of the Chinese government, Foreign Ministry spokesman Koy Koung told The Wall Street Journal. Mr. Devillers couldn't be reached for comment. "We didn't force him: He honestly agreed to go to China by himself," Mr. Koy said, adding that the French Embassy in Phnom Penh was also involved in the decision. "We arrested and detained him at China's suggestion and now we're releasing him at China's suggestion."
China's June Home Prices Rebound as Sentiment Improves – Bloomberg China's new home prices in June rose in the most number of cities tracked by the government in 11 months as buyer sentiment improved after the central bank cut interest rates. Prices climbed in 25 cities out of the 70 the government looks at, the most since July last year. Prices fell in 21 from a month earlier, according to data released by the statistics bureau today. The eastern city of Hangzhou led the gain with a 0.6 percent jump from May, while major cities Beijing and Shanghai recorded gains of as much as 0.3 percent. Home prices were unchanged from May in 24 cities.
Rising China star set for key promotion: sources | Reuters Li Zhanshu, 61, was relieved as party boss of Guizhou province in southwest China and succeeded by provincial governor Zhao Kezhi, 58, state news agency Xinhua reported on Wednesday. Li will be "reassigned", Xinhua said but did not elaborate. Li, who has close ties to both President Hu Jintao and leader-in-waiting Vice President Xi Jinping, is the front-runner to become head of the powerful General Office under the party's elite 200-member Central Committee, said two sources with knowledge of Li's planned promotion.
China's neighborly relations look increasingly disharmonious.
Reuters has a great look at ASEAN's recent failed summit in ASEAN Way founders in South China Sea storm. Efforts to silence discussion of the South China Sea issue were not always subtle:
As Philippine Foreign Minister Albert del Rosario began to raise the sensitive issue of the South China Sea at one of last week's Asian summit meetings, his microphone went dead….A technical glitch, said the Cambodian hosts. Perhaps something more sinister, hinted some diplomats who were frustrated by Chinese ally Cambodia's dogged efforts to keep the subject off the agenda.
The Financial Times has a telling quote from a leading Singapore academic and former official:
The outcome was "a disaster" for Asean, said Kishore Mahbubani, dean of the Lee Kuan Yew School of Public Policy at National University of Singapore…."This is clearly a warning signal to Asean that a new geopolitical struggle is breaking out between the US and China in south-east Asia," he said.
Walter Russell Mead makes the point that:
It is more of a technical and procedural win for China than a substantive one. China's neighbors will continue to work towards a multilateral approach on this issue, the United States will continue to support them, and China will still pay a diplomatic and political price for its stand.
China's one party system probably does not create the right culture to build effective diplomacy, in spite of all the bromides to Sun Tsu and harmony.
Russia fired warning shots and then detained two Chinese fishing boats that had entered Russia's EEZ. Pravda published a provocative but inaccurate piece claiming that the "sneaky Chinese" have territorial claims to nearly 20 countries and another Russian media report warns that China may go to war with Vietnam to shore up support.
Japan sent its ambassador back to China after instructing him "to inform Beijing accurately of Japan's proposal to place the Senkaku Islands under state ownership". On Tuesday the Global Times warned Japan about the Senkaku/Diaoyu issue and the dangers of another prime ministerial visit to the Yasukuni shrine:
A confrontation of public opinion may be more disastrous than hostilities between the two governments. Is Asia heading toward a dangerous public opinion showdown? If the Japanese government encourages such a trend within Japan, it may start a chain reaction. Room for negotiation in Asia will gradually be squeezed out.
China's robust public opinion often imitates blundering words from Japan's extreme public figures on the issues of the Diaoyu Islands and Yasukuni Shrine visits.
Asia is no longer in an era when governments alone can resolve public issues. Public opinion will be a prime factor shaping public policy. But if governments let public opinion off the leash, Asia will be ushered into an uncertain future when the possibility of war cannot be ruled out.
Contentious public opinion has diverted the attention of countries to territorial disputes. Development, also a core issue, has lost its appeal in public opinion. For now, diplomatic toughness between Asian countries is more or less just public posturing. But once a hostile situation is formed, it is difficult to reverse.
Japan mustn't be shepherded by politicians such as Ishihara. Rationality must come back to Japanese politics, otherwise confrontation in Asia will spiral out of control.
Just bluster all around? Or potentially something much more dangerous, especially as China and Vietnam's economies are sputtering?
The Variable Interest Entity (VIE) issue is back with the news that the SEC has opened a formal investigation of New Oriental Education. The announcementdropped EDU 34% on the day and dragged down most other US-listed China stocks, the majority of which also use VIE structures. There is no apparent accusation of fraudulent accounting, unlike with Ambow, another Chinese education company whose stock blew up last week on the resignation of the CFO and allegations of 2008 financial impropriety. Ambow and New Oriental are not sketchy reverse merger stocks; they had blue chip underwriters for their IPOs and PWC audits Ambow, Deloitte audits New Oriental.
Paul Gillis examined New Oriental's problems in a post earlier today:
EDU announced the investigation in the same call as it announced its fourth quarter earnings. It said that Deloitte had not finished its audit of the accounts for the year ended May 31, 2012. Deloitte is in a real pickle here. They are already up to their eyeballs in trouble with the SEC, and if they sign off on these accounts they could be setting themselves up for more. Deloitte's signoff, or refusal to do so, will be the first indication as to the seriousness of the SEC's challenge to consolidation.
What are the risks that this spreads to other companies? It is tough to say, since we do not know specifically what the SEC is focused upon. If Deloitte refuses to sign off on the May 31 numbers, then I expect it spreads very quickly. If instead, it is a company specific issue (such as an allegation of lying to the SEC) then the problem may be contained to EDU.
It is starting to look like shorting almost anything China is 2012′s trading version of shooting fish in a barrel.
For fun, I posted to Twitter some pictures I took when I was in Beijing in 1989. I have a lot more, but the negatives are eluding me right now. The best way to read this blog is to subscribe by email, especially if you are in China, as Sinocism is still mostly blocked by the GFW. The email signup page is here, outside the GFW. You can also follow me on @niubi or Sina Weibo @billbishop. Comments/tips/suggestions/donations are welcome, and feel free to forward/recommend to friends. Thanks for reading.
Today's links:
TODAYonline | World | ASEAN, neutral or neutered? Perfect neutrality is impossible, when some of its members are formal allies with one power, or receive large amounts of high-profile aid from another. But open and healthy dialogue about the fullest possible range of issues is critical for ASEAN-led dialogues to remain relevant.For this, each ASEAN member must be willing to keep the group's interest as a whole in view, and not focus solely on its bilateral ties with China or America. Otherwise ASEAN will not only fail to be neutral, but be ineffective and indeed neutered.
Gold-trading ring took in billions|Economy|chinadaily.com.cn Police in Central China's Henan province rounded up 33 people suspected of illegal gold-futures trading in a case involving more than 5,000 investors and at least 380 billion yuan ($59.62 billion). The suspects, who had been trading since October 2008, had never registered with industrial and commercial authorities, as required by the law, said Guo Congbin, director of Luoyang public security bureau, on Tuesday
China has territorial claims to nearly 20 countries – English pravda.ru They are silent about the "Iodo island" (the Chinese version is Suenchzhao. – Ed) in the East China Sea. The sneaky Chinese took the principle of dividing the Arctic as an example and now claim that the underwater ridge of this tiny piece of land is under close control of the Chinese. Since the Iodo is closer to Korea, in 2003 the Koreans built an uninhabitable marine research station there. From the standpoint of the international law, this rock in general should not be the subject of a debate.
Tax revenue too high – People's Daily Online However, despite their claim that they are abiding by the rules, local governments seem to be tightening the screw on businesses making it even harder for them to navigate the uncertainties…As the corporate sector holds the key to stable growth and job creation, a more predictable taxation system is a must.
US stirs up conflict among Asian countries as part of rebalancing strategy – People's Daily Online Stirring up tensions and conflict among Asian countries has been an important way for the Obama administration to implement its rebalancing strategy. Objectively speaking, there remain many unresolved territorial disputes in Asia, and certain neighboring countries are worried about and afraid of a rapidly rising China. U.S. policymakers have taken advantage of this situation to rebalance their national economic and security interests toward Asia.
赵紫阳大秘文集面世 学者料成禁书_多维新闻网 the collected works of zhao ziyang's secretary bao tong go on sale in hong kong
赵紫阳在内蒙古-炎黄春秋 the yanhuang chunqiu essay on Zhao Ziyang–"Zhao Ziyang in Inner Mongolia"
炎黄春秋忆赵紫阳勤俭亲民_多维新闻网 latest issue of yanhuang chunqiu has essay about zhao ziyang 中国敢言杂志《炎黄春秋》2012年第七期再次刊登怀念前中共总书记赵紫阳的文章，称赞赵紫阳爱下乡与农牧民促膝谈心、不通知地方政府接待、睡会议室等故事，展现赵紫阳亲民、勤俭等形象。
South China Sea tensions deliberately stirred up with outside help – Globaltimes.cn The last major principle in the international law is promissory estoppel, which means you must not withdraw your promises. Vietnam has acknowledged in the past that the Xisha and Nansha Islands belong to China and the Philippines also once acknowledged Huangyan Island as China's territory.So it is illegal and unreasonable for Vietnam and the Philippines to expand their exclusive economic zone into Chinese territories just because they signed the UN treaty. These acts are a violation of promissory estoppel.The article was based upon a speech given by Zhu Chenghu, at the World Peace Forum in Beijing. Zhu is director-general and professor at the Academic Department of Strategic Studies of the National Defence University
Bargain govt car auctions prompt graft accusations – Globaltimes.cn A recent auction of government cars in Central China's Henan Province has fueled heated controversy after they were sold at extremely low prices, prompting experts to call for transparency to prevent the loss of state assets
Lexington: The China-bashing syndrome | The Economist The trouble with such talk is that it reinforces the feeling among China's leaders that America is out to thwart their country's "peaceful rise". The fact that both parties are happy to portray China as the bogeyman of globalisation creates an impression of uniform hostility. That, in turn, undermines America's message that China is unduly paranoid and defensive. It also disenfranchises those American voters who would like to express a more optimistic view of the consequences of commerce.
CNOOC says S.China Sea blocks tender progressing well | Reuters CNOOC, China's top offshore oil producer, said on Tuesday a tender issued last month to invite firms to bid for oil and gas blocks in the South China Sea is progressing well, attracting interest from companies including from some U.S.-based ones. The state-run firm in late June invited foreign companies to jointly develop nine blocks in the western part of the South China Sea, a move Vietnam said was illegal because the blocks overlap its territorial waters and ownership is disputed.
政府表态"三不"|政府|表态|三不_21世纪网 did not realize solar firm LDK is in so much financial trouble, report says LDK may be seeking to be nationalized// 7月16日，有媒体报道称，7月12日召开的新余市八届人大常委会第七次会议上，审议通过了市人民政府关于将江西赛维LDK公司向华融国际信托有限责任公司偿还信托贷款的缺口资金纳入同期年度财政预算的议案。而赛维在上述信托中的借款余额约为7.55亿元，引发地方政府帮助企业还贷的巨大争议。
Heard on the Street: China's Expanding Outbound Investment Appetite – WSJ.com Foreign direct investment in China's economy came in at $59.1 billion in the first half of 2012, down 3% year-to-year. That reflects slower economic growth, which makes China a less attractive place to invest. A remission in yuan appreciation, falling property prices, and dismal mainland equity markets have taken the shine off the China bet, too. The story on China's outbound investment is the reverse. Overseas direct investment in the first half came in at $35.4 billion, up 48% year-to-year. That reflects a combination of abundant cash on the books of Chinese firms, and bargains to be had as foreign asset prices remain depressed.
Working together is the best way, Wen says|chinadaily.com.cn Premier Wen Jiabao stressed the importance of consultation to address the trade balance during a meeting with China-US business leaders, officials and former officials in Beijing on Tuesday. Wen also highlighted the benefits of cooperation.
Yongshu Reef is heart of Nansha Islands[1]|chinadaily.com.cn Soldiers receive supplies from a fishing boat near the Yongshu Reef, Nansha Islands, in China on July 16. Yongshu Reef, a coral atoll located about 740 sea miles away from Chinese mainland , is the administrative and military headquarters of Nansha Islands. High tide swallows the reefs in water 0.5 to 1 meter deep, while it reveals only a few rocks below the low tide. China successfully set up an ocean observatory and mobile services on the reef. About 100 people reside on Yongshu, which has big potential for development.
Survey shows strong support for tax relief |Economy |chinadaily.com.cn Two-thirds of people polled in Guangzhou, Beijing and Shanghai support large-scale tax reductions that they believe will lead to lower prices, better social equality, decrease random government spending and increase individual wealth.
Wenzhou bad loans jump |Markets |chinadaily.com.cn As of the end of June, the balance of bad loans reached 18.1 billion yuan ($2.8 billion), almost double the 9.4 billion yuan at the start of the year. The corresponding bad-loan ratio jumped to 2.69 percent, up from 1.33 percent at year-start.
Beijing halts face-lift of ancient courtyard home |Society |chinadaily.com.cn where hong huang used to live. beautiful old house// Authorities have halted a project to give an ancient courtyard home in downtown Beijing a face-lift and issued a hefty fine to the construction firm and the courtyard's owner, Beijing cultural heritage bureau said Tuesday. The century-old courtyard, No. 51 in Shijia Hutong, is better known as the former residence of Zhang Shizhao, a prominent scholar and politician in modern China history. After his death in 1973, the courtyard home was lived in by his daughter Zhang Hanzhi who once served as Chairman Mao's English teacher and her husband Qiao Guanhua, a former foreign minister.
Beijing real estate market warming up: analysts – Xinhua | English.news.cn Real estate developers' appetite for land bids seems to have recovered, as home sales grew in the Chinese capital more than one year after unprecedented tightening policies were introduced to control the property market, market analysts said. Two land bids hit high points on Tuesday. In the southern suburb of Daxing, a 53,870-square-meter plot was auctioned for 2.2 billion yuan (about 346 million U.S. dollars), according to the Beijing Land Reserve Center, a government body in charge of public land management.
Senior official stresses stability prior to national congress – Xinhua | English.news.cn Zhou Yongkang, a senior official of the Communist Party of China (CPC), has called for confidence and more concrete methods to ensure social stability for the upcoming 18th National Congress of the CPC. Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks Tuesday at a meeting on keeping social stability.
China Focus: China's Sansha starts forming government – Xinhua | English.news.cn Photo taken on July 17, 2012 shows a scene of a meeting of the Standing Committee of the Hainan Provincial People's Congress in Haikou, capital of south China's Hainan Province. China on Tuesday set up an organizing committee for the legislative body of Sansha, officially beginning the formation of the government of the newly established city in the South China Sea. The committee was set up by the Standing Committee of the Hainan Provincial People's Congress on Tuesday morning. The State Council, or China's cabinet, in June approved the establishment of Sansha, a prefectural-level city to administer the Xisha, Zhongsha and Nansha islands and the surrounding waters in the South China Sea
Chinese Premier urges efforts to boost jobs – Xinhua | English.news.cn Premier Wen Jiabao on Tuesday called for more efforts to expand employment, urging authorities at all levels to prioritize job creation. Wen made the remarks at a national conference held in the Great Hall of the People to honor collectives and individuals that have made great contributions in boosting the country's employment.
Dictionary's exclusion of gay terminology sparks criticism – Xinhua | English.news.cn The compilers of a newly-revised authoritative Chinese dictionary have come under fire for excluding a word commonly used to refer to the country's growing homosexual community from the reference book. The Chinese term "tongzhi," which literally translates as "comrade" in English, has been widely used by Chinese homosexuals to refer to themselves for years and has entered the popular lexicon as well. However, the word failed to find its way into the sixth edition of the Contemporary Chinese Dictionary.
Falling property investment drives China H1 FDI drop | Reuters China's foreign direct investment inflows fell 3 percent in the first half of 2012 versus last year, the Commerce Ministry said on Tuesday, the latest sign of intensifying headwinds facing the world's second-largest economy as global growth slows.
China Slowdown Stymies Plan to Curb Shadow-Banking Risks – Bloomberg China's economic slowdown threatens to derail efforts to curb underground lending — measures championed by Premier Wen Jiabao as crucial to future growth. The country grew in the second quarter at the slowest pace since the depths of the global financial crisis in 2009, 7.6 percent, putting pressure on China's leaders to boost stimulus spending. Wen's proposals to rein in the shadow-banking system, estimated to be about one-third the size of official lending, may be sidelined as a result, according to half a dozen economists interviewed by Bloomberg News.
Indonesia president warns over South China Sea | ABS-CBN News Indonesian President Susilo Bambang Yudhoyono Tuesday said there would be no quick resolution to competing territorial claims in the South China Sea, warning tensions must not be allowed to escalate.
Politburo Standing Committee to revert to seven members: Duowei｜Politics｜News｜WantChinaTimes.com really?// Senior officials as well as Jiang Zemin are believed to have decided the lineup of the next leadership generation at the meeting at the Beidaihe resort in Hebei between July and August last year. As Hu's successor, Xi Jinping will consult with the current president before making a final decision on the lineup, while the still-influential Jiang will be an adviser to review all candidates, in line with the party's practice of ensuring continuity of policy and a smooth planned transition of power
Capital Vue: China's Electricity Demand Growth Drops Significantly In First Half According to Yu Yanshan, deputy director of the Office of the SERC, power consumption growth continued to slow down in the first half of this year, with total electricity consumption up 5.5% y/y to 2.3744 trillion kwh, with the growth rate down 6.7 percentage points from the same period last year. The electricity consumption of secondary industry grew by 3.76% in the first five months, lower than the electricity consumption growth of the entire society by 2.06 percentage points. Since the beginning of January this year, the industrial electricity consumption growth rate has been consistently lower than the growth of the entire society. Among the major electricity consumption industries, ferrous metals and building materials industry continued negative growth.
LOST in the Senate | Via Meadia GOP kills ratification of law of the sea treaty, against the urging of us military// The treaty has been kicking around the Senate for twenty years, but support has recently grown as China asserts rather tenuous claims to disputed islands in surrounding waters. Beijing is a signatory to the treaty, along with 161 other countries. U.S. officials (including all living Republican former secretaries of state) worry that refusing to follow suit diminishes America's leverage in dealing with China over these territorial clashes.
Q. & A.: Searching for Perfect Pitch in Chinese Design : The New Yorker But when the global advertising business handed out awards last month at the annual Cannes Lions festival, one of the biggest prizes went to a surprising winner, the obscure twenty-year-old student artist from Hong Kong named Jonathan Mak Long. He had designed a serene outdoor ad for Coca-Cola, and the path that led him to the stage in France was no less surprising: after Steve Jobs died, last October, Mak dreamed up a little tribute—an Apple symbol subtly embedded with Jobs's silhouette—and the image went viral.
Chinese Draft Rule Could Prohibit Citizens and NGOs From Monitoring Air | Tea Leaf Nation enter Rule 81 of the Chinese environmental protection agency's April 2009 innocuously-named draft document, "Environmental Monitoring Management and Regulations: Consultative Report (For Public Comment)." The money line: "Prior to official approval, no work unit or individual can in any shape or form publish environmental quality monitoring information from environmental monitoring equipment." If the rule were implemented and enforced, public air quality monitoring could become the sole province of the government once again.
Cambodia Rules The Waves, And China Cheers | Via Meadia In the long run, this could be good for ASEAN. Many friends of the organization have long felt that the ASEAN tradition of requiring unanimous consent on every issue prevents the organization from living up to its potential. Cambodia's veto of an agreement that its neighbors passionately support will prompt some thinking in other ASEAN countries about whether this approach really works.
China's financial slow boat speeding up – FT.com Beijing deserves credit for its accomplishments. After all, many observers had thought 2012 would be a quiet year for government initiatives. With the Communist party consumed by a once-in-a-decade leadership transition, there was supposed to be little appetite for policy experiments. But Beijing's progress looks slow when set against the rapid pace of change in Chinese financial markets, which is occurring beyond the confines of the official reform agenda.
SEC v EDU – the end of VIEs? | China Accounting Blog | Paul Gillis New Oriental Education and Technology Group (NYSE: EDU) dropped a bombshell in its fourth quarter earnings release this morning. The company reported that the SEC has issued a formal order of investigation captioned "In the Matter of New Oriental Education & Technology Group Inc." The Company believes that the investigation concerns whether there is a sufficient basis for the consolidation of Beijing New Oriental Education & Technology (Group) Co., Ltd., a variable interest entity of the Company, and its wholly-owned subsidiaries, into the Company's consolidated financial statements.
Taiwan seek missing intelligence officer-RTHK Taiwan has put a military intelligence officer on the wanted list after she failed to report to work following a holiday in Thailand last month. The lieutenant has been sacked by the military intelligence bureau and will face court martial for abandoning her post if she returns to the island. However, the defence ministry denied media reports alleging she had acquired important intelligence and defected to the mainland.
China rail: back on track | beyondbrics Andy Rothman, China macro strategist at CLSA, said that although China's infrastructure spending has come in for criticism, much of the rail spending is on necessary upgrades such as double-tracking and electrification. "Although passenger rail gets the headlines, high-speed rail frees up the existing network for freight. And as well as manufacturing gains, rail has played a big role in income inequality. The gap in wages between coastal regions and the interior has narrowed, as it's become possible to set up factories inland." Rothman points out that due to transport bottlenecks, for some areas of the country it's been easier to get coal from Indonesia rather than from within China. "The investments by and large make sense."
China steel hits 2012 record low | beyondbrics when Chinese steel prices sink, they carry a stark economic message. On Tuesday, the world's most traded steel futures contract – the Shanghai rebar future – hit its 2012 low, with the most-traded January contract reaching Rmb3,848 per tonne, the lowest price the since the rebar future was launched in early 2009.
明镜网等接力报导：中共权力交接博弈，习近平"中枪" – 中国数字时代 Is it conceivable Bloomberg exposed details about xi jinping relatives' wealth that the central disciplinary inspection commission didn't find while vetting xi? rumors about his sister have been around for years, two family friends in Beijing who know the xi family knew all about her dealings, said they were widely known, didn't see the big deal about the Bloomberg story, other than the embarrassment of having this so well documented. Why do so many assume that the Bloomberg story about xi family assets was the result of tip/tips by xi's enemies? Maybe Bloomberg realized w gu kaiIai and bo xilai that they didnt need rumors & could find a lot in public filings, more than anyone realized?
Already Valued at $4B, China's Xiaomi Has Declared War on Apple | PandoDaily Apple could do it major damage if it released a <2000 RMB apple 4 for china, say when iphone 5 launches.// China's answer to Apple occupies the 12th floor of a staid office tower in a sprawling commercial area of Beijing. It has no signage on the building's exterior, so the only clue that suggests I'm in the right place is a standard directory plaque in the lobby that lists, among other companies, the name "Xiaomi Corporation."
West to Gain as China Imports Rare Earths, Quest CEO Says – Bloomberg U.S. and Canadian producers of heavy rare earth metals are poised to benefit as China becomes a net importer of some of the materials as early as 2014, said Peter Cashin, chief executive officer of Quest Rare Minerals Ltd. (QRM)
US sees record 1m visa request from China|China|chinadaily.com.cn President Barack Obama's initiative to boost international tourism has pushed the US government to process a record 1 million visa applications from China so far during fiscal 2012. "This extraordinary accomplishment represents visa processing growth of almost 43 percent over the same period last fiscal year, when we had processed just over 675,000 visa applications in China," the State Department announced Thursday.
China's Soft Power Strategy in the Middle East | Brookings Institution While the U.S. is looking more towards the Pacific, China's needs are driving it more towards the Middle East. To fuel and sustain its economic growth, China is heavily reliant on Middle Eastern oil. The resource rich and volatile Middle East is a critical center of gravity for the Asia-Pacific and the key for China's continued economic prosperity. Thus, while China builds military capability to project power closer to its shores, it is also leveraging its power into a new kind of anti-access and area denial (A2/AD) strategy in the Middle East. It is operating through mostly asymmetric means, effectively using its growing soft power to circumvent America's traditional military strengths and significant sway in region.
Am I a China Bear? « Patrick Chovanec Indeed I am worried — not thrilled, not vindicated — because contrary to stereotypes, I do not consider myself a "bear" on China. In that respect, I would like to make a few points. Because over the next few days I'm going to be saying some very negative, critical, and even scary things about China's economy, these points are quite important.
China's solar frontier – YouTube China's far western province of Xinjiang is at the forefront of the nation's newest energy push: renewable energy, and particularly solar power. Leslie Hook visits a remote desert village that draws all its power from an off grid solar project.
Top editor reshuffled at Guangzhou paper – China Media Project CMP has confirmed today that the editor-in-chief of the New Express, a spin-off of Guangzhou's Yangcheng Evening News, has been shuffled sideways in a move that effectively spells his removal as editor-in-chief of the popular newspaper.
Sotheby's Sues Chinese Bidder for $3.5 Million Nonpayment – Scene Asia – WSJ Just ask Sotheby's, who on Tuesday said it was suing a man from mainland China for 27.5 million Hong Kong dollars (US$3.5 million) plus interest, an amount the auction house claims he owes for 20 works of art he won at a Hong Kong sale. The lawsuit against Zhang Bo, whose address is in China's Henan province, was filed over the weekend in Hong Kong's High Court.
Art World Unnerved by China's Detention of Two -Gallery openings are a bit more subdued, anxious art dealers have been keeping a low profile, and several wealthy collectors have been barred from leaving China while the investigation continues. Auction house giants like Sotheby's and Christie's have been asked to cooperate with the authorities in what has become a wide-ranging investigation
In Mongolia's Boom Town, Hope and Fear – NYTimes.com With the country on the brink of prosperity, Ms. Badamgarav is betting her future on her nation's soaring aspirations. "Mongolians are like dogs just let off the chain," she said. "We're hungry to afford the good stuff."
Blogs » Politics » One Year Later, Wukan Faces Same Challenges One Year Later, Wukan Faces Same Challenges Photo: Street in Baiyang town, Baoshan, Shanghai, by Remko Tanis The Rich List, “Brother Watch” and the Gini Coefficient in China Foxconn Plant Open, But Broader Issues Persist Does Mitt Romney Know the Difference Between Currency Manipulation and IP Infringement? The Fourth Amendment in the Electronic Age No Passport, No U.S. Visit For Ai Weiwei The journey of a thousand miles starts with a single step… Growing Up a Chinese Patriot, Then Heading West in a Changed World Tourism Businesses in Asia must be Socially Responsible China’s Online Commenters Greet First Aircraft Carrier With Doubt, Disdain Photographs Capture a Disappearing China 20 Die in Coal Mine Plunge Why I have no female Chinese friends Let Them Eat Pop-Tarts! ...
Blogs » Society » LinkedIn Lunches LinkedIn Lunches Girls Night Out @ Bar Rouge Watch: Damien Hirst cuts up dead things, calls it art, this time in Hong Kong Absurd racism claim and attacks on Chinese culture Photos: The good, the bad, and the ugly new kit designs for Chinese Super League 2013 Two teenagers engage in rare double self-immolation in Sichuan Presented By: China And The EU Drift Towards A Solar Trade War Neither Wants NGOs’ failing obsession with pandas and tigers Watch: Yet another example of how dangerous it is to drive a scooter in China Looking Back At Tracy McGrady’s Inaugural Season In China Scrutinizing The Mandiant Report: Taking A Hard Look At What It Proves And, More Importantly, What It Doesn’t Headlines You Don’t See Every Day, Except Maybe If You Live In Henan: “Man Scalps Parents” Picture Of The Day...
Blogs » Society » 10 amazing restaurants you should check out during Restaurant Week Shanghai! 10 amazing restaurants you should check out during Restaurant Week Shanghai! An Entrepreneur’s Bone-Chilling Story Of China Business And Betrayal Writ Not So Large. ‘Live TV’ Execution Of Mekong Murders Mastermind Stirs Controversy Building Out China’s Bond Markets Friday Night Musical Outro: White+ – Red Friday Links: Eerie suicide on camera, a televised execution (not), and an infographic on the Great Firewall General Luo Yuan’s Sina Weibo Account Remains The Greatest (As He Would Eagerly Tell You) German TV Crew Attacked In Hebei Province Just Outside Of Beijing Did This Guy Get “Raped” By A Girl On The Streets Of Chengdu? People Are Really Upset About Civilian Use Of Military Vehicles, As Jackie Chan And Young Soldier Discover Forget ...
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