Archive for ‘China alert’

22/01/2014

China’s Real-Estate Investment Boom Set to Continue in 2014 – China Real Time Report – WSJ

Chinese real-estate investors made a name for themselves abroad in 2013, picking up big-ticket projects from New York to London, and that momentum is poised to pick up this year.

“In the late 1980s, we noticed every second deal was done by the Japanese, and in the 1990s, it was investors from the Middle East,” said Alastair Hughes, chief executive officer of Asia Pacific at property consultancy Jones Lang LaSalleJLL +1.99%. “We’re seeing the beginning of such a wave in China.”

Chinese outbound commercial real-estate investment is estimated to exceed $10 billion this year, after it doubled to $7.6 billion last year from 2012’s $3.3 billion, according to data from Jones Lang LaSalle. Rival brokerage Colliers International is more bullish, saying it expects Chinese investors to spend at least twice as much on overseas property assets this year as last year.

“Chinese investors are very active in every major market in the world, and part of that has to do with government policy on overseas investment becoming less restrictive,” Mr. Hughes said.

Aside from the stronger yuan, which makes purchases abroad cheaper, Chinese investors also are heeding the old adage don’t put all your eggs in one basket.

via China’s Real-Estate Investment Boom Set to Continue in 2014 – China Real Time Report – WSJ.

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22/01/2014

BBC News – China and UK trade at ‘record high’

Bilateral trade between China and the United Kingdom hit a \”record high\” in 2013, according to the Chinese ambassador to the UK, Liu Xiaoming.

Chinese Premier Li Keqiang  and British Prime Minister David Cameron

The state-owned Xinhua news agency quoted Mr Liu as saying that bi-lateral trade between the two surpassed $70bn (£43bn) last year.

He said the UK\’s exports to China grew more than other EU countries.

The UK has been pushing to boost trade ties with Beijing in an attempt to tap into China\’s domestic market.

Last year, British Prime Minister David Cameron visited the world\’s second-largest economy to foster closer trade ties.

“The UK can be the most profitable destination in the Western world for Chinese outward investment in infrastructure, real estate, energy and transportation”

Stephen Perry

48 Group Club

He was accompanied by more than 100 British business people on the three-day visit – his second to the country.

\”The two countries\’ leaders reached a broad consensus on pushing forward bilateral relationship and expanding co-operation,\” said Stephen Perry, chairman of the 48 Group Club, an independent business network that looks to promote ties between China and the UK.

\”China and the UK working together will benefit our people and contribute to global peace and development,\” Mr Perry was quoted as saying by Xinhua.

via BBC News – China and UK trade at ‘record high’.

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22/01/2014

Tea growers get big year-end bonus[1]- Chinadaily.com.cn

A tea company in Wande county of Jinan city, capital of East China\’s Shandong province, shared nearly a million yuan ($165,200) in year-end bonuses with its tea growers, on Jan 20, 2014.Some growers got about 200,000 yuan.Li Taishan Tea Co was established after thevillage piloted a land circulation project in 2003.

Tea growers get big year-end bonus

via Tea growers get big year-end bonus[1]- Chinadaily.com.cn.

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18/01/2014

The internet: From Weibo to WeChat | The Economist

WHEN Luo Changping, an investigative journalist, tried on November 22nd to post the latest chapter of his big scoop on WeChat, a popular Chinese mobile messaging service, censors blocked it. But he was able to work round them. In a follow-up message he told his subscribers they could send him the words “Chapter Seventeen”; users who did so automatically received the post on their mobile phones, uncensored.

WeChat, or Weixin in Chinese, is known mostly for private chatting and innocuous photo-sharing among small circles of friends. With more than 270m active users, it has become the star product from Tencent, an internet conglomerate. Some have compared it to WhatsApp, an American messaging service. More quietly, it has become the preferred medium for provocative online discussion—the latest move in China’s cat-and-mouse game of internet expression and censorship.

 

Mr Luo began posting his serialised stories on WeChat in May. They related how he had exposed the alleged corruption of Liu Tienan, a senior economic official. He had tried tweeting them on Sina Weibo, a Twitter-like microblog on which he had accused Mr Liu of corruption months earlier, but internet censors blocked him from doing so: hence his switch to WeChat. Though his initial attempts there were also blocked, the loophole that enabled him to send out the file is typical of WeChat’s more relaxed approach to censorship.

A WeChat account works much less publicly than accounts on microblogs (of which Sina Weibo is the most prominent). Anyone using Sina Weibo can see almost anyone else’s tweets and forward them on, meaning a single tweet can spread very quickly. On WeChat, it is usually only subscribers to a public account who will see a post (though such posts may also be viewed on a separate web page), and if a subscriber forwards a post, only that subscriber’s circle of friends see it. Its non-public accounts are even less open. Information on WeChat spreads at such a slow burn that authorities feel they have more control over it. Also in contrast to microblogs, many types of public account (like Mr Luo’s) can send out only one post to subscribers a day, making them much easier for authorities to monitor.

Mr Luo does not always have problems sending out his stories on WeChat and, since switching to the service, he has posted the equivalent of a blog post every week or two, and built a following of more than 60,000—“higher than the actual subscription figure of many Chinese magazines”, he says. WeChat is now his prime delivery platform for newsy titbits, including sensitive information that would be censored more rigorously on microblogs. (He has not published for Caijing magazine, his former employer, since being transferred in November to a non-reporting position at an affiliated research institute.) Meanwhile, he makes much less use of his Sina Weibo account, even though it has more than four times as many followers: “The ground for public opinion has begun to shift toward WeChat,” he says.

The rise of WeChat is a business phenomenon in its own right (see article). But it is also a measure of how adaptive and resilient China’s political and social discourse has become—almost as adaptive as the censorship regime that seeks to contain it. Recently a number of public intellectuals have lamented the decline of meaningful discussion on weibo. The microblogs were full of user-led activism in 2012 but, starting in 2013, officials have dramatically escalated their efforts to control them. Propaganda outlets have intensified attacks on the spread of rumours online, authorities browbeat online celebrities to be “more responsible” (at least two have been arrested on unrelated charges), and microbloggers can now be jailed for up to three years for tweeting false information that is forwarded 500 times or viewed 5,000 times. President Xi Jinping, in a speech to party leaders in August, said that the internet was the prime battleground in the fight over public opinion, and that officials must seize control of it.

via The internet: From Weibo to WeChat | The Economist.

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17/01/2014

Golden Statue of Chairman Mao, Pricey Liquor Among the Reported Details of a Chinese General’s Wealth – Businessweek

When armed police a year ago searched the mansion of Lieutenant General Gu Junshan of China’s People’s Liberation Army, they seized three symbolic items along with dozens of others: a wash basin for fortune, a model boat for luck, and a statue of Chairman Mao.

All three were made of gold.

The seizures, including several cases of Moutai, a sorghum-based spirit served on luxurious occasions, came to light this week in a report by the publication Caixin, which specializes in investigative journalism. Caixin cited anonymous sources.

Gu was arrested by authorities in January 2012 and put under investigation. Since then, few details have emerged. This rare exposure of the extravagant possessions Gu accumulated while he was managing land owned by the Army has renewed popular interest in his case.

The Chinese Army controls plenty of property—and has unloaded a lot of it over the years. By 2009, the PLA had sold as much as 30 billion yuan ($5 billion) of real estate holdings, the Chinese state press reported that year. Sales included land in central Beijing that private developers later turned into Diaoyutai No. 7, a row of apartment buildings carrying a price tag of as much as 300,000 yuan ($50,000) per square meter in 2011.

According to the Caixin report, the Army had taken that property from a state enterprise in the name of conducting “science research.” It’s unclear whether Gu gained anything in the transaction. Regardless, the detail prompted this comment from one reader: “Holy Cow! The army is so powerful that it can find such an easy excuse to grab land!”

President Xi Jinping has moved to strip the military of some privileges, including luxury cars. Last month he banned drinking at receptions for military officials and warned against handling land improperly. Other military perks, including universal free parking and an exemption from tolls on roads, still rankle many.

Then there’s the Moutai, which has a market price of as much as 2,158 yuan ($356) a bottle. The crates of it authorities found in Gu’s house were a special supply for the military, according to Caixin’s report.

Regarding real estate, Caixin reported that Gu once got a 6 percent kickback on a 2 billion-yuan sale of military land in Shanghai. In downtown Beijing, he owned dozens of apartments and planned to use them as gifts, Caixin said, citing unnamed sources.

via Golden Statue of Chairman Mao, Pricey Liquor Among the Reported Details of a Chinese General’s Wealth – Businessweek.

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17/01/2014

* China’s Tech Firms Now Challenging the Likes of Samsung, Apple – China Real Time Report – WSJ

Chinese tech firms, once mostly known for their manufacturing prowess, are now challenging market leaders and setting trends in telecoms, mobile devices and online services. As Juro Osawa and Paul Mozur report:

Keeping better-known global competitors at bay in their massive home market, Chinese tech companies are hiring Silicon Valley executives and expanding overseas with aggressive marketing campaigns featuring international sports stars and celebrities.

They still face a perception problem among consumers in many parts of the world that their products aren’t as high-quality or reliable as others. Some foreign competitors have alleged that Beijing gives unfair advantages through subsidies, cheap financing and control over the currency market.

But, many executives at Chinese and Western companies contend, China’s technology sector is reaching a critical mass of expertise, talent and financial firepower that could realign the power structure of the global technology industry in the years ahead.

via China’s Tech Firms Now Challenging the Likes of Samsung, Apple – China Real Time Report – WSJ.

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16/01/2014

China confirms hypersonic missile carrier test | Reuters

 

China has flight-tested a hypersonic missile delivery vehicle in a move that was scientific in nature and not targeted at any country, the Defence Ministry said on Wednesday.

 

A Chinese military build-up has raised regional jitters. Many countries in Asia have welcomed a stated U.S. intention to shift more attention and military assets back to the region. They are beefing up military spending and ties with Washington.

 

\”Our planned scientific research tests conducted in our territory are normal,\” the Beijing Defence Ministry said in a faxed response to Reuters. \”These tests are not targeted at any country and at any specific goals.\”

 

The statement confirmed a report by the online Washington Free Beacon newspaper that the hypersonic glide vehicle (HGV) was detected flying at 10 times the speed of sound over China last week.

 

A spokesman for the Pentagon said it was aware of the test.

 

\”We routinely monitor foreign defence activities and we are aware of this test,\” said Lieutenant Colonel Jeffrey Pool, a Pentagon spokesman:

 

via China confirms hypersonic missile carrier test | Reuters.

 

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16/01/2014

China’s Hebei closes more than 8,000 polluting firms in 2013 | Reuters

China shut down 8,347 heavily polluting companies last year in northern Hebei province, which has the worst air in the country, state news agency Xinhua said on Thursday, as the government moves to tackle a problem that has been a source of discontent.

Residents ride bicycles along a street amid heavy haze in Xingtai, Hebei province November 3, 2013. Dense smog has periodically shrouded major cities in north and northeast China in recent years, raising increasing public discontent, Xinhua News Agency reported. REUTERS/China Daily

Local authorities will block new projects and punish officials in regions where pollution is severe due to lax enforcement, Xinhua cited Yang Zhiming, deputy director of the Hebei provincial bureau of environmental protection, as saying.

High pollution levels have sparked widespread public anger and officials concerned about social unrest have responded by implementing tougher policies.

Hebei, the country\’s biggest steel producer, is home to as many as seven of its 10 most polluted cities, Xinhua said, citing statistics published monthly by the Ministry of Environmental Protection.

Pollution in Hebei often spreads to neighboring Beijing and Tianjin. On Thursday, Beijing was blanketed in its worst smog in months. An index measuring PM2.5 particles, especially bad for health, reached 500 in much of the capital in the early hours.

Some small high-polluting plants are being relocated to remote areas to avoid oversight, Xinhua quoted Yang as saying. He said the government would \”beef up the industrial crackdown\”.

China has drawn up dozens of laws and guidelines to improve the environment but has struggled to enforce them in the face of powerful enterprises.

via China’s Hebei closes more than 8,000 polluting firms in 2013 | Reuters.

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15/01/2014

Wuhan overpass swings into place[1]- Chinadaily.com.cn

A 17,000-ton section of an overpass was rotated 106 degrees, one step closer to the completion of an elevated highway in Wuhan city, Central China\’s Hubei province, on Jan 14, 2014. The section on pier number Z63, at a height of 15 meters, was built along the railway to not disturb trains. It finished rotating and joined its other parts in 90 minutes. The completed overpass will be 256 meters long and span 11 railways, including the Beijing-Guangzhou Railway and Wuhan-Hefei Railway. It is expected to open to traffic this month.

Wuhan overpass swings into place

via Wuhan overpass swings into place[1]- Chinadaily.com.cn.

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15/01/2014

Villagers in SW China share the wealth[1]- Chinadaily.com.cn

Jianshe village in Liangshan Yi autonomous prefecture, Sichuan province, shared about 13.11 million yuan ($2.17 million) in bonuses with the 340 households in the village, on Jan 14, 2013. The village became rich after piloting a land circulation project, which introduced a new farming company and an investment company. One household received 314,000 yuan.

Villagers in SW China share the wealth

via Villagers in SW China share the wealth[1]- Chinadaily.com.cn.

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