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• China discipline warning over Bo
• Obama blocks China wind farm plan
• Medtronic Agrees to Pay $816 Million for China Kanghui
• Nike Drops Amid Slowing Demand From China
• U.S. call for "cool heads" in China-Japan island dispute goes unheeded
• Previous Post
• China seals Bo’s fate ahead of November 8 leadership congress
• AUDIO: Father on lesbian daughter 'offer'
• China embassy in Tokyo receives bullet in envelope
• Bo Xilai accused of China crimes
• China embassy in Tokyo receives bullet in envelope
• Pilot suspended after airline gets HIV tip-off
• Food poisoning sickens 42 kids, one dead
• Email account ready to accept tips on suspects
• VIDEO: Plane crash in Nepal capital
• Nineteen die in Nepal plane crash
• `Obstinate' Japan PM blasted
• Beijing has criticized Japanese Prime Minister Yoshihiko Noda's "obstinate persistence" after he insisted there could be no compromise on the ownership of the Diaoyu Islands.
• Taiwan firms in dire straits
• Japan and China trade barbs at UN

China discipline warning over Bo Posted: 28 Sep 2012 05:16 PM PDT No-one is immune from Communist Party discipline, warns China's state news agency, as top politician Bo Xilai is expelled to face criminal charges.

Obama blocks China wind farm plan Posted: 28 Sep 2012 12:47 PM PDT President Barack Obama has stopped a private Chinese firm from building wind turbines in the US state of Oregon, citing national security concerns.

Medtronic Agrees to Pay $816 Million for China Kanghui Posted: 28 Sep 2012 09:11 AM PDT Source: Bloomberg News By Kanoko Matsuyama and Dave McCombs Medtronic Inc. (MDT) agreed to pay $816 million for orthopedic implant maker China Kanghui Holdings Inc. (KH), gaining a broader foothold in the nation's medical-device market with its biggest overseas acquisition. The pacemaker and spinal implant supplier will pay $30.75 per American depositary receipt in a transaction worth $755 million net of Kanghui's cash, the Minneapolis-based company said in a statement on its website. That's 22 percent higher than yesterday's closing price. The biggest purchase of a Chinese health-care products maker brings Medtronic closer to the goal of getting 20 percent of sales from emerging markets by 2016, from less than 10 percent last year. China is Asia's second-largest user of medical devices, an industry that will grow 39 percent to $228 billion by 2015 in the world's 10 biggest markets, MarketsandMarkets estimated last year. "Kanghui provides several advantages for Medtronic," Jason Mann, health-care analyst at Barclays Plc in Hong Kong said in a report to clients today. "Access to thousands of hospitals in China, the fastest growing orthopedic market, international corporate culture and emerging market access, with 15 percent revenue from outside China, including Latin America and the Middle East." Medtronic has spent more than $2.6 billion on overseas acquisitions, including a $221 million deal for a 15 percent stake in Shandong Weigao Group Medical Polymer Co. (1066) in 2007, at the time the biggest maker of medical devices in the world's most populous nation. Chinese Orthopedics "Kanghui brings Medtronic a broad product portfolio, a strong local R&D and manufacturing operation," Chris O'Connell, president of Medtronic's Restorative Therapies Group, said in the statement. The deal provides "advantages in the fast- growing Chinese orthopedic segment, as well as a foothold in the emerging global value segment in orthopedics." Based on the $755 million deal value net of Kanghui's cash, Medtronic is paying about 32 times 2011 earnings before interest, depreciation, taxes and amortization. That compares with the 14 times earnings average of nine similar medical products deals announced or completed over the past 12 months, according to data compiled by Bloomberg. The deal is expected to close in the next few months and will help Medtronic widen its offerings in orthopedics and neurosurgery, according to the statement. Changzhou, China-based Kanghui was founded in 1997 and raised $68.4 million in an August 2010 initial public offering. Kanghui profit rose 21 percent to 121 million yuan ($19 million) last year, on sales that increased 35 percent to 327 million, according to data compiled by Bloomberg. Kanghui ADRs surged 21 percent to $30.41 at 9:55 a.m. New York time, and had gained 70 percent this year through yesterday. Medtronic declined 1.7 percent to $42.76, and had climbed 14 percent this year through yesterday.

Nike Drops Amid Slowing Demand From China Posted: 28 Sep 2012 09:14 AM PDT Source: Bloomberg News By Matt Townsend Nike Inc. (NKE), the world's largest sporting-goods company, declined the most in almost three months after reporting future orders that trailed analysts' estimates as demand sank in China. Nike fell 2 percent to $94.06 at 9:50 a.m. in New York. The Beaverton, Oregon-based company's shares earlier slid as much as 3.3 percent for the biggest intraday decline since June 29. The stock was little changed this year through yesterday. Chief Executive Officer Mark Parker has been discounting merchandise in China to clear inventory that wasn't selling well, hurting demand for new products. Future orders from China, excluding currency fluctuations, declined 6 percent, trailing analysts' average estimate for a 1.2 percent gain. Total orders for the Nike brand from September to January advanced 8 percent, trailing the 10 percent average estimate. "The futures numbers are what's most important, and when you've got a negative China number and deceleration in global future numbers, that's what's driving the stock down," Camilo Lyon, an analyst for Canaccord Genuity Corp. in New York, said in an interview. The China orders "were worse than anyone expected." The economy in China "appears to be slowing, creating a short-term impact to any business operating there," Charles Denson, president of the Nike brand, said yesterday on a conference call with analysts. He declined to say when results in China would improve. Profit Drops Net income in the quarter ended Aug. 31 declined 12 percent to $567 million, or $1.23 a share, from $645 million, or $1.36, a year earlier, the company said yesterday in a statement. Analysts projected $1.13 a share, the average of estimates compiled by Bloomberg. The profit drop was the second straight decline after nine straight quarterly gains. Several companies have had to discount this year as demand declines in China. There is a significant glut of inventory in athletic apparel and footwear, said Lyon, who recently spent time in the region. A year ago, Nike's orders for China rose 22 percent. While total revenue rose 9.7 percent to $6.67 billion, which also topped analysts' estimates, Nike's profitability was hurt by higher costs for labor and materials. Gross margin, or the percentage of sales left after the cost of goods sold, narrowed 0.8 percentage point to 43.5 percent from a year earlier. That marked the seventh straight decline. "There are some very real pressures in this world, and in this market, that even a company with the size and sophistication of Nike can't avoid," Lyon said before the results. North America continued to be a bright spot for Nike as revenue in the region surged 23 percent to $2.71 billion. Orders rose 13 percent. Analysts projected 14 percent. That strength, especially in the U.S., has masked slowing growth overseas, Lyon said.

U.S. call for "cool heads" in China-Japan island dispute goes unheeded Posted: 28 Sep 2012 09:30 AM PDT Source: Reuters By Andrew Quinn and Paul Eckert (Reuters) – U.S. Secretary of State Hillary Clinton urged China and Japan on Thursday to let "cool heads" prevail in a festering dispute over a cluster of East China Sea islands, but hours later Chinese and Japanese diplomats traded barbs at the United Nations. Clinton met Chinese Foreign Minister Yang Jiechi on the sidelines of this week's U.N. General Assembly meeting in New York and said it was important to ratchet down the quarrel over the islands that has soured ties between Asia's two largest economies, a senior State Department official said. The uninhabited islets, whose nearby waters are thought to hold potentially rich natural gas reserves, are known as the Diaoyu islands in China and the Senkaku islands in Japan. They have been under Japan's control since 1895. "The secretary … again urged that cooler heads prevail, that Japan and China engage in dialogue to calm the waters," the official told reporters. "We believe that Japan and China have the resources, have the restraint, have the ability to work on this directly and take tensions down, and that is our message to both sides," the official said. Yang, however, used a portion of China's annual address to the U.N. General Assembly on Thursday night to forcefully restate Beijing's stance that the islands had belonged to China from ancient times and were seized in 1895 after Japan defeated the Qing Dynasty in a war. Yang also condemned the Japanese government's purchase of the islands earlier this month from their private owner, a step that sparked protests across China and prompted Beijing to curb bilateral trade and tourism. "The moves taken by Japan are totally illegal and invalid," he said of the purchase, which Tokyo says was done to ease the dispute by preventing the islands' use by Japanese activists. "They can in no way change the historical fact that Japan stole the Diaoyudao and affiliated islands and that China has sovereignty over them," Yang told the General Assembly. Diaoyudao is what China calls the main island in the cluster. DUELING CLAIMS AT U.N. Japan then exercised its right to reply in General Assembly debate, restating Tokyo's position that no sovereignty dispute exists and that Japan began surveying the islands a decade before deciding to incorporate them in 1895, and there exists no evidence that the islands belonged to China. "It has only been since the 1970s that the government of China and the Taiwanese authorities began making their assertions on territorial sovereignty over the Senkaku Islands," said Kazuo Kodama, Japan's deputy U.N. ambassador. "Before then they did not express any objections," he added. Not to be outdone, China's U.N. Ambassador Li Baodong accused the Japanese envoy of "resorting to spurious, fallacious arguments that defy all reason and logic." "The recent so-called purchase of the islands is nothing different than money laundering," he said, accusing Tokyo of buying stolen property when it acquired the islands this month. China has declared the islands "sacred territory," and Taiwan has also asserted its own sovereignty over the area. Clinton was due to meet Japanese Foreign Minister Koichiro Gemba and South Korean Foreign Minister Kim Sung-hwan in a three-way meeting on Friday. Japan and South Korea, two close U.S. allies, have also seen their relationship rocked in recent months by maritime territorial disputes. In hour-long talks on the sidelines of the United Nations on Tuesday, Japan's Gemba urged China to exercise restraint over the dispute. Japanese diplomats described the meeting as "tense," as Gemba endured a stern lecture from China's Yang. Yang called on Tokyo to handle the dispute through negotiation, and Japanese Chief Cabinet Secretary Osamu Fujimura said "it is necessary for both countries to maintain and strengthen bilateral communications and respond to the issue calmly and with a broad perspective in mind." ESCALATION RISK Both China and Japan have sent patrol boats in a game of cat-and-mouse in the waters near the disputed islands, raising concerns that an unintended collision or other incident could escalate into a broader clash. In a further sign of economic fallout from the dispute, Chinese buyers and Japanese sellers of refined copper have postponed agreement on terms for 2013 shipments. Chinese and Japanese companies failed to reach a deal in talks this week, even though Japanese sellers were willing to cut price premiums by about 10 percent from last year, a Chinese executive familiar with the talks said. The United States has said repeatedly it takes no position on the sovereignty dispute, but believes it is important for China and Japan to work out their differences peacefully. Washington has repeatedly confirmed, however, that the U.S.-Japan security treaty would apply to the islands in the event of military attack. In her meeting with Yang, Clinton also touched on territorial disputes in the South China Sea that have set Beijing against a number of its Southeast Asian neighbors, including the Philippines, a close U.S. ally. China has resisted calls by the United States and some Southeast Asian countries to agree on a multilateral framework to settle the disputes, preferring to engage with each of the other less powerful claimants individually. The U.S. official said Clinton welcomed moves by China to restart informal meetings with members of the Association of Southeast Asian Nations, or ASEAN, most recently in Cambodia two weeks ago, as a sign of progress. "We expect these meetings are going to continue in the lead-up to the East Asia Summit in November," the official said. "This is precisely what the secretary has been advocating, that they restart a dialogue." Clinton met later with a delegation of ASEAN ministers, who were guardedly upbeat about China's latest moves, a second U.S. official said. "We are going to have to wait and see over the course of the next several weeks, but we have obviously encouraged the process to grow and deepen," the official told reporters.

Previous Post Posted: 28 Sep 2012 09:08 AM PDT Have You Heard…

China seals Bo’s fate ahead of November 8 leadership congress Posted: 28 Sep 2012 09:33 AM PDT Source: Reuters By Chris Buckley and Ben Blanchard (Reuters) – China's ruling Communist Party accused disgraced politician Bo Xilai of abusing power, taking huge bribes and other crimes on Friday, sealing the fate of a controversial leader whose fall shook a leadership handover due at a congress from November 8. The once high-flying Bo now faces a criminal investigation that stemmed from a murder scandal, and will almost certainly be jailed. With the Communist Party congress about six weeks away, further steps in the case could come before then, helping pave the way for a transition of power, experts said. "Bo Xilai's actions created grave repercussions and did massive harm to the reputation of the party and state, producing an extremely malign effect at home and abroad," the official statement from a party leaders' meeting said, according to a report by the official Xinhua news agency. Bo's wife Gu Kailai and his former police chief Wang Lijun have already been jailed over the scandal stemming from the murder of British businessman Neil Heywood in the southwestern municipality of Chongqing, where Bo was Communist Party chief. The official statement carried by Xinhua said that in the murder scandal, Bo "abused his powers of office, committed serious errors and bears a major responsibility". That charge appears to reflect accusations from Wang's trial that suggested Bo tried to stymie the murder investigation. Reports that Bo, the "princeling" son of a revolutionary leader, could escape with a light punishment have now been dealt a fatal blow, and accusations of womanizing could further tarnish his reputation in the eyes of Chinese people. But the few weeks left before the congress will probably not allow time for a trial, said He Weifang, a law professor at Peking University who has closely followed Bo's downfall. "I think it's quite certain that he won't be able to escape punishment under the criminal law, but the timing makes it unlikely that will happen before the congress," said He. "I'd guess that he'll get a jail sentence of 20 years or longer. The death penalty is unlikely, although the bribery charges could in theory allow it, if the amount is as huge as they say." At the congress, Chinese President Hu Jintao will step down as party chief, almost certainly making way for Vice President Xi Jinping to emerge as top leader. Xi is then almost sure to be appointed state president at the annual parliament session, likely in March next year. WARNING TO HEED EXAMPLE Bo, 63, has been expelled from the party as well as the elite decision-making Politburo and Central Committee "in view of his errors and culpability in the Wang Lijun incident and the intentional homicide case involving Bogu Kailai", said the party announcement. Bogu is his wife's official but rarely used surname. Bo's "grave violations of party discipline" extended back to his time as an official in Dalian city and Liaoning province in northeast China, and as minister of commerce, said the statement from the Politburo. "Party organizations at all levels must use the case of Bo Xilai's grave disciplinary violations as a negative example," it said. Bo's son, Bo Guagua, who was a friend of the murdered Heywood, has remained largely silent throughout the fall of his parents. He appears to be still in the United States, after finishing graduate studies at Harvard University. Since Bo Xilai was ousted in March, he has not been seen in public and has not been allowed to answer the accusations against him. At a news conference days before his removal, Bo rejected as "filth" and "nonsense" the then unspecified allegations against him and his family. At the same time as announcing the slate of accusations against Bo, the party set the November 8 date for the congress that will unveil the country's new central leadership line-up. Eight is considered a lucky number in China. The twin announcements will "significantly reduce perceived political and economic risks" and "help end policy paralysis," Ting Lu, China economist Bank of America/Merrill Lynch in Hong Kong said in an emailed research note. "If anything, this should make markets and the general public somewhat assured that this is not really being delayed too far," Damien Ma, an analyst for the Eurasia Group who follows Chinese politics, said of the November 8 congress date. LEFTIST SYMPATHISERS CRY FOUL Bo, 63, was widely seen as pursuing a powerful spot in the new political line-up before his career unraveled after his former police chief, Wang Lijun, fled to a U.S. consulate for more than 24 hours in February and alleged that Bo's wife Gu had poisoned Heywood to death. After his appointment as party chief of Chongqing in 2007, Bo, a former commerce minister, turned it into a showcase of revolution-inspired "red" culture and his policies for egalitarian, state-led growth. He also won national attention with a crackdown on organized crime. His brash self-promotion irked some leaders. But his populist ways and crime clean-up were welcomed by many of Chongqing's 30 million residents, as well as others who hoped that Bo could take his leftist-shaded policies nationwide. His likely trial could still stir that ideological contention. China's party-run courts rarely find in favor of defendants, especially in politically-sensitive cases. After state television announced the charges against Bo, some leftist sympathizers insisted that he was the innocent victim of a political plot. "I just still don't believe that Bo has so many problems with corruption," Han Deqiang, a leftist Beijing academic who has supported Bo, told Reuters. "We have to wait and see what else comes out. But I don't think we've been given the truth." In March, Bo was sacked as Chongqing party boss, and in April he was suspended from the party's Politburo, a powerful decision-making council with two dozen active members. The latest party statement also said Bo "had or maintained improper sexual relations with multiple women". It added that the investigation discovered clues of other, unspecified crimes. "We'll have to wait and see what charges are accepted by the prosecutors in any indictment," said Li Zhuang, a Beijing lawyer who was jailed by Bo after raising allegations that Chongqing's anti-crime gang policies involved torture and other unchecked abuses. "The charges could change."

AUDIO: Father on lesbian daughter 'offer' Posted: 28 Sep 2012 05:17 AM PDT A well-known Hong Kong billionaire has offered $65m (£40m) to any man able to woo and marry his lesbian daughter.

China embassy in Tokyo receives bullet in envelope Posted: 28 Sep 2012 01:48 AM PDT China's embassy in Tokyo, Japan today said they received an envelope with a rifle bullet in it and Japanese police are now probing the case. "We received a suspicious letter on Thursday. Japanese police came to check it and confirmed there was a rifle bullet in the envelope. We have asked Japanese police to beef up protection of Chinese nationalists," the embassy said in a statement. Kyodo News Service cited the police as saying that no threatening message was found in the envelope but the sender's name was Yoshihiko Noda, Japan's prime minister. Tokyo Police Bureau considered it a joke because the two countries are in a standoff over the disputed Diaoyu Islands. They are still checking if the bullet is a real one.

Bo Xilai accused of China crimes Posted: 28 Sep 2012 01:22 PM PDT Top politician Bo Xilai is expelled from China's Communist Party and is to face criminal charges for alleged abuse of power and corruption.

China embassy in Tokyo receives bullet in envelope Posted: 28 Sep 2012 01:48 AM PDT China's embassy in Tokyo, Japan today said they received an envelope with a rifle bullet in it and Japanese police are now probing the case. "We received a suspicious letter on Thursday. Japanese police came to check it and confirmed there was a rifle bullet in the envelope. We have asked Japanese police to beef up protection of Chinese nationalists," the embassy said in a statement. Kyodo News Service cited the police as saying that no threatening message was found in the envelope but the sender's name was Yoshihiko Noda, Japan's prime minister. Tokyo Police Bureau considered it a joke because the two countries are in a standoff over the disputed Diaoyu Islands. They are still checking if the bullet is a real one.

Pilot suspended after airline gets HIV tip-off Posted: 27 Sep 2012 11:45 PM PDT A pilot of an unnamed Chinese airline has been suspended from flying after the company received a tip-off from his gay partner that the pilot is a HIV carrier. A 19-year-old Shenzhen student, identified as Xiao Xiong, said early this week that he met and slept with captain Zhao Liang in May and their relationship lasted one month. Xiao said Zhao neither took any safety measures nor told him about his HIV status. He accused the captain of "maliciously spreading the virus." Though his medical check result was negative, Xiao Xiong was afraid that Zhao would harm more people and reported it to Zhao's company whose name was not disclosed, the Beijing News reported. The airline management admitted the scandal and said Zhao had been banned from flying and is undergoing hospital treatment. Another pilot told the paper that they need to pass a strict physical examination in order to obtain a flight license. However, sex-related diseases like AIDS and syphilis have just been put on the checkup list this year.

Food poisoning sickens 42 kids, one dead Posted: 27 Sep 2012 11:41 PM PDT One of the 42 children suffering food poisoning in a village kindergarten in southwestern Guizhou Province died on Wednesday despite emergency treatment, local media reported today. The children showed symptoms of diarrhea, fever and vomiting after having lunch in the Dakan Village kindergarten last Friday, said health officials in Zuiyi City which administers over the village. Medical workers were sent to the village to treat the sick children and bring them to hospitals in Zunyi and Zheng'an County. One girl died this Wednesday and 23 children remain hospitalized. Only four recovered and returned home, according to the Guiyang Evening News. Authorities have not yet published the result of their investigation into the food poisoning case.

Email account ready to accept tips on suspects Posted: 27 Sep 2012 11:26 PM PDT THE Ministry of Public Security (MPS) yesterday publicized an email address (interpol.china@mps.gov.cn) that the public can contact to report on Chinese criminal suspects who have fled overseas. The email account, run by the International Criminal Police Organization (Interpol) China Center Bureau, was opened to allow whistleblowers to provide clues on the whereabouts of criminal suspects that have left the country, according to a statement from the MPS. Police encourage the public to actively and truthfully report missing suspects based on facts and the law, and the public is urged to provide information such as a suspect's name, identification number, address, contacts and suspected crimes, as well as photos of a suspect, if possible, it said. Police have vowed to keep the identity of informants and the information they provide confidential, according to the statement.

VIDEO: Plane crash in Nepal capital Posted: 27 Sep 2012 11:44 PM PDT A plane heading for the Everest region has crashed in the Nepalese capital, killing all 19 people on board.

Nineteen die in Nepal plane crash Posted: 28 Sep 2012 06:19 AM PDT A plane heading for the Everest region crashes in the Nepalese capital, killing all 19 people on board, including a number of Chinese nationals.

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Beijing has criticized Japanese Prime Minister Yoshihiko Noda's "obstinate persistence" after he insisted there could be no compromise on the ownership of the Diaoyu Islands. Posted: 27 Sep 2012 10:03 PM PDT Ad: Magic Submitter By Alexandr Krulik - The Power To Dominate Social Media And All Search Engines Affiliates Join www.magicsubmitter.com/affiliate

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Japan and China trade barbs at UN Posted: 27 Sep 2012 11:38 PM PDT China's foreign minister accuses Japan of "stealing" islands both claim in a UN speech - prompting Japan to reply, as the US calls for calm.

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