Archive for November 12th, 2012
Meetings this morning, some commentary in bold, otherwise just links:
BUSINESS AND ECONOMY
China’s Banking Leaders Seek to Calm Concerns Over Loan Quality – NYTimes.com - I certainly do not buy the “Chinese policymakers are omniscient and omnipotent” naivete, but I do think they are more proactive than Greenspan, Geithner and their staffs ever were// The regulators and bank chairmen said during a rare joint news conference that they were managing the industry prudently and that effective measures had been taken to limit risk even as lending expands briskly.
Banking sector in good health: top officials|Economy|chinadaily.
Zhou Cautions on Lingering Crisis Even as China Exports Rebound – Bloomberg - “Overall our macro-economic controls have been successful,” Zhou said at a briefing in Beijing yesterday as part of the Communist Party congress that begins a once-a- decade leadership transition. “But of course the financial crisis didn’t finish, and became a European debt crisis, and therefore we are still continuing to deal with it.”
24 Companies: Profits Doubled with Strain on Operating Cash Flow in Q3-Caijing - Chinese companies are anticipating a recovery as the world’s second-largest economy picks up, the Securities Times reported. Preliminary results showed strong performance figures in nearly half the listed companies, with 68 of the total 941 companies expecting their Q4 earning greater than the profits for the first three quarters combined.
China to Raise RQFII Quota, Boost Foreign Investor Access – Bloomberg - The China Securities Regulatory Commission, the People’s Bank of China and the State Administration of Foreign Exchange have agreed in principle to raise the quota for the Renminbi Qualified Foreign Institutional Investor program by 200 billion yuan ($32 billion), Guo Shuqing, chairman of the securities regulator, said at a briefing in Beijing yesterday.
CIC chief outlines China’s global investment strategy – Taipei Times - China’s sovereign wealth fund will focus more of its US$482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei (樓繼偉) said.
Sany vows to ‘fight to the end’ in lawsuit against Obama |Economy |chinadaily.com.cn - A court hearing due on Nov 28 will decide whether the case will be accepted, and the company will take the case to the US Supreme Court if it’s not, said Liang Wengen, board chairman of Sany, at a group interview on the sidelines of the 18th National Congress of the Communist Party of China, which opened Thursday
China Billionaire Liang Seeks Bigger Role for Private Companies – Bloomberg - will be interesting if he makes central committee// Chinese billionaire Liang Wengen, who heads the nation’s biggest machinery maker, called on the country’s new leadership to give more space for private enterprises to grow. Liang, chairman of Sany Heavy Industry Co. (600031) and founder of parent company Sany Group Co., spoke at a briefing yesterday in Beijing as part of the Communist Party congress that opened Nov. 8 to begin a once-a-decade leadership change. Liang is one of 27 delegates to the meeting from the private sector, according to the official Xinhua news agency
Securities regulator dismisses near-future launch of int’l board – Xinhua | English.news.cn - China’s securities regulator on Sunday dampened the hope for allowing overseas companies to go public in domestic equity markets soon, saying that the launch of “international board” needs a lot of preparations and China does not have a timetable for it.
海航有意取消10架A380订单 明年航空业利润料上升 - Hainan Airlines to cancel order for 10 Airbus A380s?
经济参考网–信用卡全额计息引热议 律师提醒避免不当使用 - CCTV and other media have launched an assault on sketchy tactics by chinese credit card issuers
POLITICS AND LAW
Hu Jintao set to step down as military chief | South China Morning Post or perhaps Hu has stacked the CMC with “his generals” so that he does not actually have to stay on as CMC chair and recreate the “two centers” problem but will still have much influence?// Outgoing President Hu Jintao will formally relinquish his position as military chief at the end of the 18th party congress this week, according to sources. His decision to opt for complete retirement surprised many analysts, who had expected him to keep the top job at the party’s Central Military Commission
Hu Keeping Military Post May Weaken China’s Xi as Tensions Flare – Bloomberg - whoops, if SCMP right that Hu is stepping down
The Sunday Times: Neil Heywood Was An English-Teaching Know-Nothing Nobody Beijing Cream - lots of excerpts in this post, no reason to think the sunday times is authoritative or in any way more accurate than previous reporting in wall street journal, new york times or other outlets. so many version, so many rumors, no one seems to have gotten the full story. ironic that one Rupert Murdoch owned newspaper seems to contradict some of the reporting of another of paper he owns. guess he is hedged…// In a 3,600-word piece, Cathy Scott-Clark and Adrian Levy of Britain’s The Sunday Times lay bare the myth of Neil Heywood. They argue that far from being an intrepid power broker living astutely within the inner circles of China’s elite, the murdered Briton was a “failed businessman,” a “chancer,” an “irritant,” and a liar who lucked into his connection with Bo Xilai, and was killed after a miscalculation on both his part and Gu Kailai’s. The piece, titled “Lost in China,” reads at times like a direct repudiation of the Wall Street Journal’s story last week, “Briton Killed in China Had Spy Links.”
Lost in China | The Sunday Times - paywalled// Neil Heywood has remained an enigma since his suspicious death rocked China’s elite. But a year-long investigation reveals that the man labelled a spy or high-level fixer was really a lazy chancer out of his depth
Elites fight secret battle for China’s soul–Sydney Morning Herald–Garnaut - He Di and the Boyuan Foundation. Wonder if He Di has read In the Garden of Beasts: Love,Terror,and an American Family in Hitler’s Berlin: Erik Larson// With one eye on Hitler and the lessons of 1930s Germany and Japan, a top banker is quietly trying to build his own Chinese revolution, writes John Garnaut in Beijing.
刘源张海阳亮相十八大 撇清薄案影响_多维新闻网 - so much for rumors that Liu Yuan in trouble/under investigation? he and Zhang Haiyang make an appearance at the 18th–Duowei// 中共十八大开幕当天，
Socialism with Chinese characteristics, a banner guiding China’s modernization – People’s Daily Online - The road may not be smooth and various tests will certainly be experienced before realizing comprehensive modernization and national rejuvenation. As long as upholding the great banner of socialism with Chinese characteristics, adhering to the road of scientific development and taking the realization of the fundamental interests and welfare of the people as starting point and objective, China will usher in a beautiful tomorrow.
Commentary: Decoding China’s political logic – People’s Daily Online- In the report to the 18th CPC National Congress, Hu Jintao said the CPC should draw on the political achievements of other societies, but “we will never copy a Western political system.” It shows the CPC will follow a socialist path of making political advance with Chinese characteristics. Such a political development road follows China’s historical and cultural tradition, and suits its own national conditions. On the other hand, it is improving with the times and will always be inclusive. This is China’s political logic.
Xinhua Insight: What to watch in China’s political reform? – People’s Daily Online - Though it remains unsaid when to expand the vibrant democracy like in Yongledian to upper levels of the Party hierarchy, political experts interviewed by Xinhua including those involved in the drafting of the report said the Party is sincere in pursuing democracy and positive changes, though might not be imminent, can be expected.
十八大后推进中国改革需要把握好的几个原则 – 易鹏 – 名家博客 – 博客 – 财经网 - 总体而言，随着中国中产阶层越来越壮大，
专家称户籍制度改革遭地方政府反对致其难落实_新闻_腾讯网 - 户籍制度改革，常常被专家称为改革的坚冰区，改革难点在哪儿？
Interview: China to move forward despite difficulties: Kissinger – Xinhua | English.news.cn - He in the doghouse for his Bo Xilai work?// Talking about the keynote report delivered by General Secretary Hu Jintao at the CPC congress, Kissinger said: “I was impressed by the report’s emphasis on reform, on the expression of confidence in the future of China and on the conciliatory tone in foreign policy.”
In defence of how China picks its leaders – FT.com - By Daniel Bell and Eric Li The coverage in the western media of leadership changes at the Chinese Communist party’s 18th congress has been almost uniformly negative
Chinese Communist Party Faces Calls for Democracy – NYTimes.com - “It is still possible for China to get on the right track while staying stable,” said Mr. Li, the scholar who observed the American vote. “It is also possible, however, for the party to miss the opportunity and devolve into chaos.”
FOREIGN AND DEFENSE AFFAIRS
Jon Huntsman on China’s National Party Congress – YouTube - too bad Huntsman rejected by GOP// As part of CCTV America’s coverage of China’s 18th Party Congress, Mike Walter speaks to Former U.S. Ambassador to China Jon Huntsman about US – China relations and the new leadership being installed in Beijing.
New top defense officers chorus loyalty, military modernization – Xinhua | English.news.cn - The four newly-appointed top officers of the Chinese armed forces chorused loyalty to the ruling Communist Party of China (CPC) and military modernization at their debut to the ongoing CPC national congress in Beijing.
Low-cost Chinese drone to be unveiled at Zhuhai show | South China Morning Post - Mainland enters lucrative global UAV market with prices well below US and Israeli rivals
第九届珠海航展_腾讯新闻_腾讯网 - nice QQ special section on the zhuhai air show. world entering a new wave of cheap, high-tech arms sales? russia can not be happy with china’s attack on this market
Japan Curbing China Investment as Feud-Weary Firms Flee – Bloomberg - Along with Koito, Japanese parts-makers including Sumitomo Electric Industries Ltd. (5802) and Toyo Tire & Rubber Co. are rethinking plans to expand in China, where Toyota’s sales plunged 41 percent in September as demonstrations over disputed East China Sea islands flared. The manufacturers are focusing expansion plans on Thailand, Vietnam, Myanmar, Indonesia and Cambodia, a sign that this year’s drop in Japanese investment in China may deepen next year, crimping bilateral trade that has tripled to $340 billion in the last decade.
Japan, U.S. to start review of defense guidelines | The Japan Times Online - Defense Minister Satoshi Morimoto has expressed his willingness to rethink the guidelines in a bid to deal with emerging threats, particularly China’s increasingly provocative maritime activities in connection with the Senkaku Islands dispute, as well as terrorism and cybercrimes.
U.S. Military’s New Focus on Asia Becomes Clearer – NYTimes.com - More attention to Asia: One measure of the region’s growing importance is that Mr. Panetta and Gen. Martin E. Dempsey, the chairman of the Joint Chiefs of Staff, now hold a secure one-hour video conference every other week with the top commander for Asia and the Pacific, Adm. Samuel J. Locklear III. Pentagon officials say the frequency is similar to that of video conferences with American commanders in war zones.
How debts and double-dealing sparked Japan-China islets row | Reuters - The road to China’s breakdown in relations with Japan began here – a sleepy Tokyo suburb that is home to the reclusive real-estate investor at the centre of the explosive property deal that enraged Beijing.
TECH AND MEDIA
Hollywood magic put to work in China|Art|chinadaily.com.cn - The first project China’s Galloping Horse will work on with Digital Domain, the leading Hollywood visual effects company it acquired two months ago, will be Ender’s Game, a film based on the popular American science fiction. Digital Domain will hold a 37.5 percent of the stake in the film, investing both technology and money.
China slams distorted view of copyright piracy problem | Reuters - But Tian Lipu, head of China’s State Intellectual Property Office, said the government’s efforts were being ignored.
China Film Regulator: Don’t Blame Us For Hollywood Hiccups – China Real Time Report – WSJ - Government regulators played no role in a recent month-long disappearance of foreign films from the Chinese box office, said Tian Jin, Vice Minister of China’s State Administration of Radio, Film and Television (SARFT) at a cultural reformation meeting held during the Chinese Communist Party’s 18th Party Congress. Officials also had no hand in box offices film delays or simultaneous releases for several major Hollywood blockbusters, said Mr. Tian.
SOCIETY, ART, SPORTS, CULTURE AND HISTORY
Beijing Marathon never rejects Japanese athletes, say organizers – Xinhua | English.news.cn - just a big misunderstanding, like so many things are once they are discovered…// Some reports had said that the 2012 competition did not admit Japanese runners as there was no option of Japan as to nationality in the application page. ”As far as last year’s registration concerned, it was rare that Japanese runners signed up online individually. Basically they applied through Japanese enterprises,” Shen explained. ”So this year, we remained to accept group registration because it is convenient for the Japanese participants to look after each other and also it is easy to handle in terms of picking up competition numbers and outfits. Therefore, there was no registration option for individual Japanese marathon fans,” Shen said.