Archive for ‘China alert’

31/01/2015

China’s Provinces Lower Their Sights After Most Miss Economic Targets – China Real Time Report – WSJ

Most Chinese provinces missed their economic growth targets for last year, according to figures published Friday, in what would only recently have been an unthinkable event but is another sign of the economy’s rapid deceleration.

Out of 31 provinces and province-like administrative regions, 27 missed their marks, while one met its target and three have yet to report their performance, according to the Beijing News, a state-run newspaper.

Growth targets have been seen for decades as ironbound objectives, by Chinese officialdom, from Beijing on down. Provinces have typically competed to outdo the national target—which has ranged around 7% to 8%–setting their own goals higher and then making sure they exceed them, and with good reason: Growth factors heavily in the performance assessments for mayors, governors and other officials seeking promotions to higher office.

via China’s Provinces Lower Their Sights After Most Miss Economic Targets – China Real Time Report – WSJ.

31/01/2015

5 Things to Know About Turkey and the Chinese Uighurs – WSJ

1 TURKISH NATIONALISTS CONSIDER UIGHURS KIN.

Many Turkish nationalists regard the Uighurs, who speak a Turkic language, as part of a broad family of ethnic Turks spread across Eurasia. They have lobbied successive Turkish governments to offer refuge to those fleeing Chinese rule and to allow Uighurs to campaign against Beijing’s policies from Turkish soil.

2 TURKEY HAS SHELTERED UIGHUR LEADERS SINCE AT LEAST THE 1950S.

Turkey offered shelter in the 1950s to Isa Yusuf Alptekin, a Uighur nationalist who was a leader of the East Turkestan Republic established in southern Xinjiang from 1933 to 1934. A small park named after him can be found in Istanbul, near the Blue Mosque in the city’s historic center.

3 TURKISH AUTHORITIES HELPED ESTABLISH UIGHUR COMMUNITIES IN TURKEY IN 1965.

In 1965, Turkey offered sanctuary to a group of some 200 Chinese Uighurs who had escaped on foot to Afghanistan. Turkish authorities airlifted them out of Kabul and settled them mostly in the central Turkish city of Kayseri, where many still live today.

4 UIGHURS FLEEING CHINA OFTEN HEAD FOR ISTANBUL.

The Turkish government doesn’t provide official statistics for the number of Uighurs in Turkey. Uighur groups say there are about 20,000, many of whom have never been to China. About 1,500 are in Kayseri, while most others live in Istanbul, especially in the Zeytinburnu neighborhood near old town. There are also hundreds of thousands of Uighurs living in former Soviet Central Asia

5 THE UIGHUR ISSUE MAKES TURKEY-CHINA RELATIONS A DELICATE BALANCE.

After inter-ethnic rioting in 2009 left at least 156 dead in Urumqi, the capital of Xinjiang, Turkey’s then Prime Minister — now President — Recep Tayyip Erdogan described the violence as “genocide,” prompting an angry response from Beijing. In 2012, with relations improving, Mr. Erdogan made his first stop in Xinjiang during an official visit to China.

via 5 Things to Know About Turkey and the Chinese Uighurs – WSJ.

31/01/2015

China expels top police official from Communist Party | Reuters

Fast and furious, the anti-corruption campaign continues to run.

“A top police official under investigation for corruption has been expelled from China’s ruling Communist Party, the country’s top anti-graft body said on Friday.

State media said Cai Guangliao holds the rank of major general in the paramilitary armed police, which is under the powerful Central Military Commission (CMC). He was first placed under investigation last year on suspicion of violating party discipline, a euphemism for corruption.

A statement from the anti-corruption agency said Cai took advantage of his position to seek benefits for others and accepted bribes, illegally engaging in business activities and accepting gifts of money and valuables.

His case has been transferred to the judicial system, the statement said.”

via China expels top police official from Communist Party | Reuters.

31/01/2015

Panasonic withdraws from TV production in China: source | Reuters

As we said with the reduction of workforce at Foxconn, this could be the beginning of the end to off-shored manufacturing.  Time will tell if we’re right or not.

Panasonic Corp (6752.T) has stopped making TVs in China and plans to liquidate its joint venture in Shandong, a company source said on Saturday, the latest in a string of Japanese electronics companies exiting overseas TV markets amid strong pricing pressure.

Exhibitors prepare the Panasonic exhibit space ahead of the International Consumer Electronics show (CES) in Las Vegas, Nevada January 5, 2015. The show officially opens on January 6. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY)

The source, who did not want to be identified because the move had not yet been announced to the roughly 300 workers at the Shangdong plant, said Panasonic ended production there on Friday.

The Nikkei earlier reported that Panasonic would withdraw from TV production in China and Mexico. The report said the company was expected to sell the Mexican plant, which has produced about 500,000 units a year, most of which were shipped to the United States.

Reuters could not confirm the company’s plans to exit Mexico. It currently has two plants in that country, part of the company’s nine TV manufacturing plants, excluding Shangdong.

A fierce price war has made the global TV market unprofitable for many Japanese electronics makers. Panasonic said in late October it was transferring its unprofitable Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric (6839.T) in return for royalties.

Toshiba Corp (6502.T) said on Thursday that it would stop making and selling TVs in North America and was considering similar exits from other countries.

Sharp Corp (6753.T) has licensed its TV brand in Europe to Universal Media Corp Slovakia as part of an effort to trim costs and pull back from loss-making operations. Sony Corp (6758.T) has spun off its struggling TV business into a separate entity, although CEO Kazuo Hirai has said the company does not plan to sell or shut down the unit.”

via Panasonic withdraws from TV production in China: source | Reuters.

29/01/2015

China pledges to ‘regulate and revamp’ e-commerce sector amid Alibaba row | South China Morning Post

The Ministry of Commerce said it will boost regulation of China’s e-commerce sector amid the continuing row between Alibaba Group, over alleged sale of fake goods by its subsidiary Taobao.com, and the State Administration for Industry and Commerce (SAIC).

Alibaba's corporate headquarters in Hangzhou, Zhejiang province. Photo: Reuters

Shen Danyang, a spokesperson for the Ministry of Commerce, said on Thursday that the move was aimed at revamping the entire sector.

Last year, the ministry investigated more than 11,000 violations in the fast-growing e-commerce industry, and closed 3,400 websites, Shen said. The ministry would continue its campaign to build a safe and reliable market for consumers.

Online media company Sina reported on Thursday that a SAIC spokesperson denied they had received a formal complaint from Taobao.com against director Liu Hongliang, despite Taobao’s claim yesterday that they would do so.

An open letter was published on Taobao’s official Weibo account on Tuesday accusing SAIC director Liu of commissioning an “unfair” quality survey of goods sold on the platform, which resembles eBay of the US, and making public the results without giving online shop owners a chance to appeal.

Alibaba Group is due to release its quarterly earnings tonight.

via China pledges to ‘regulate and revamp’ e-commerce sector amid Alibaba row | South China Morning Post.

29/01/2015

China eyes mass innovation, entrepreneurship as new engine – Xinhua | English.news.cn

China’s State Council pledged to take various steps to create an amicable environment for innovation and entrepreneurship in order to power growth and generate jobs.

China should embrace the trend of mass entrepreneurship and innovation in the Internet age, a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang said.

The statement said China will foster a platform offering low-cost services in a variety of areas to micro businesses and individual start-ups that show innovation.

The government will also step up policy support, such as simplifying registration procedures and giving subsidies, to innovative businesses. They will improve financing systems to give special support to start-up companies, according to the statement.

Although China’s broader economy is slowing, China’s young entrepreneurs are driving a wave of startups that has become a bright spot for the economic landscape and an important engine for future growth.

The number of newly founded companies in China surged almost 46 percent year on year to 3.65 million in 2014, the latest data showed.

via China eyes mass innovation, entrepreneurship as new engine – Xinhua | English.news.cn.

28/01/2015

Car ownership tops 154 million in China in 2014 – Xinhua | English.news.cn

China added a record 17 million new cars on the road in 2014 as car ownership reaches 154 million, said the Ministry of Public Security on Tuesday.

Strong demand for cars has helped the automobile replace the motorcycle as the main method of transportation. Cars made up 58.6 percent of total motor vehicles, a sharp rise from 43.9 percent five years ago.

The number of people obtaining driving licenses also ballooned from 219 million in 2013 to 247 million as of the end of 2014, said the ministry, adding 29.7 million drivers have fewer than one year’s driving experience.

Of the 35 cities which have more than one million cars each, ten have more than two million cars, including Beijing, Chengdu, Shenzhen, Tianjin, Shanghai, Guangzhou and Chongqing.

The ministry said the number of passenger cars has reached 117 million, 90 percent of which are private cars. Beijing has the highest private car penetration, with 63 private cars for every 100 households, while the average is 25 private cars for every 100 households.

Carmakers have enjoyed strong sales over the years, with more middle-class customers placing orders for their first cars. But with frequent traffic jams, it is yet to be seen whether cars can still ride the booming tide in the years to come. More local governments have begun to limit car use, among them eight cities have quotas for new car plates.

via Car ownership tops 154 million in China in 2014 – Xinhua | English.news.cn.

28/01/2015

China plans to set 2015 growth target at ‘around 7 percent’ – sources | Reuters

China plans to cut its growth target to around 7 percent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by market forces.

The growth target, which is set to be announced by Premier Li Keqiang at the annual parliament session in March, was endorsed by top party leaders and policymakers at a closed-door Central Economic Conference in December, said a number of people with knowledge of the outcome of meeting who spoke to Reuters.

The target, which is in line with market expectations, has not been previously reported.

“This year’s economic growth target will be around 7 percent, but the 7 percent should be the bottom line,” said one of the sources, an influential economist who advises the government.

via Exclusive: China plans to set 2015 growth target at ‘around 7 percent’ – sources | Reuters.

27/01/2015

Taobao cries foul over study’s claim that it sells fake, substandard goods | South China Morning Post

China’s largest online shopping platform Taobao.com has hit back at the results of an official quality survey that accused it of selling fake and substandard goods, saying that the poll’s sampling methods were questionable and its test standards unfair.

Taobao cries foul over study’s claim that it sells fake, substandard goods

More than 60 per cent of products randomly chosen from Taobao failed to meet China’s retail-goods standards, according to a recent survey commissioned by the state commercial regulator and conducted by the China Consumers’ Association.

In an open letter published on Taobao’s Weibo account, the e-commerce giant said the survey selected only 51 products out of the more than 1 billion that it had on sale.

It also said it was unfair of the State Administration of Industry and Commerce to compare the quality of goods sold on Taobao – whose platform comprises millions of e-commerce businesses operated by individual sellers – with those sold by self-operated retailers.

One of China’s major self-operated e-commerce businesses is Taobao’s major rival, Jingdong Mall. It is also the country’s second largest online shopping platform. The survey results showed that 90 per cent of Jingdong Mall’s products met official standards.

About 80 per cent of goods sold on Yihaodian, a Chinese online grocery business controlled by Walmart, met standards.

Taobao’s open letter, titled “Don’t “Don’t make unfair calls, Director Liu Hongliang. You’ve crossed the line”, was penned by an anonymous employee, Taobao said on Weibo.

The letter addressed State Administration for Industry and Commerce director Liu Hongliang, accusing him of making public the survey results without giving the online shop owners a chance to appeal. The move violated China’s regulations on quality surveys, it said.

“Director Liu, is it appropriate to make use of your public power [like this]? It’s easy to ruin [the reputation of] Taobao, but please don’t ruin the spirit of private entrepreneurs simply because [you are angry with] Taobao,” the letter said.

Chinese officials, including Premier Li Keqiang, have over the past year repeatedly voiced support for the country’s burgeoning private enterprises, especially those in the e-commerce sector.

At least 350 million people have shopped online in China, with each spending at least 3,000 yuan (HK$3,770), according to official statistics.

via Taobao cries foul over study’s claim that it sells fake, substandard goods | South China Morning Post.

27/01/2015

New highway encircles stubborn homeowners – Chinadaily.com.cn

A room with a 360-degree road view

New highway encircles stubborn homeowners

If you can’t build through it, build around it – city planners seem to have taken this advice quite literally.

Motorway builders encircled the homes of three Chinese families with a four-lane flyover after they refused to make way for the bulldozers.

Demolition teams in Guangzhou had planned to destroy the houses in order to connect the city’s road network to a recently opened tunnel under the Pearl River.

A photograph of the so-called “nail houses” – so named because they proved difficult to move–completely surrounded by the flyover, proved popular on the Chinese Internet this week.

Some Internet users joked that authorities had given locals homes “with a 360-degree road view”.

via New highway encircles stubborn homeowners[1]- Chinadaily.com.cn.

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