Archive for November 19th, 2012
Just links today:
BUSINESS AND ECONOMY
北京多条地铁获批 第二机场快轨暂定南站首发 - NDRC approves rail line from Beijing South Station to the new Beijing airport, also approves several new Beijing subway lines and extensions of existing ones//
李剑阁：下一步改革仍要坚持市场化方向_专题频道_财新网 - 无论下一步怎么改革，都离不开两点，一要坚持市场化改革的方向，二要多种经济成分共同发展，积极发展民营经济；期待十八届三中全会能形成纲领性文件，推动下一步改革
China’s Xi May Unveil Reform Plan in Late 2013, CICC Head Says – Bloomberg - China’s new leadership, headed by Xi Jinping, will probably unveil new market-oriented reforms in late 2013, according to Li Jiange, head of the country’s biggest investment bank. Li, chairman of China International Capital Corp. and a vice chairman of state-owned Central Huijin Investment Co., which holds stakes in the nation’s biggest lenders, said the main areas targeted for overhaul will probably be reducing government intervention in the economy and breaking up state monopolies. Li spoke at Caixin Media’s annual conference in Beijing today.
吴敬琏：重启改革议程这一步已经迈出_专题频道_财新网 - 需要把过去诸多关于改革的讨论汇集起来，明确重点、实施步骤、时序安排和配套关系，把总体规划和行动纲领制定出来
Week May End China’s U.S. IPO Drought – WSJ.com- VIPShop only got IPO done because 2 of its VCs bought $20m in IPO. YY F-1 says existing investors may buy up to $30m of IPO// Given the market’s shakiness, the an offering of up to $97.5 million from YY, a company that boasts more than 400 million registered users on its online platform, is liable to face keen investor scrutiny…The average China-based IPO, since 2010, in the U.S. has slumped 40% from its offer price, according to analysis of Ipreo’s data. This year is shaping up to be the slowest for IPOs from Chinese companies since 2008, according to data from Ipreo, a market-intelligence firm.//retail investors insane to buy into these IPOs
五粮液茅台8.5亿中标央视广告招标|五粮液|茅台|8.5亿_21世纪网 - Wu liangye spends 499M RMB, Moutai spends 352M RMB on ad slots in CCTV Evening News during 2013 upfronts
央视明年广告招标揽金158亿-搜狐IT - CCTV brings in 15.881 B RMB in advertising commitments in 2013 upfronts, up 11.39 from 2012
China Home Prices Gain in Half Cities Tracked as Market Steadies – Bloomberg - Prices climbed in 35 of the 70 cities the government tracks, compared with 31 in September, according to data from the statistics bureau yesterday. Prices fell in 17 cities.
Subaru Trumps Toyota as Market Rewards China Shutout – Bloomberg - Fuji Heavy (7270) Industries Ltd. President Yasuyuki Yoshinaga has become a market darling for something he failed to do: build a factory in China. The maker of Subaru cars, the only major Japanese auto brand without a plant in the world’s largest vehicle market, has jumped 83 percent in Tokyo trading this year for the biggest gain on the Nikkei 225 Stock Average. (NKY)
Jaguar Land Rover-Chery to Invest $1.75 Billion in China Plant – Bloomberg - Tata Motors Ltd. (TTMT)’s Jaguar Land Rover unit and Chery Automobile Co. will invest 10.9 billion yuan ($1.75 billion) to build a manufacturing plant in eastern China and create a new brand to cater to the nation’s consumers.
GM ups capacity in no-frills China car market | Reuters- The plant in the southern China city of Liuzhou is Baojun’s second producing cars priced as low as 40,000 yuan ($6,400). Much of the competition in China’s auto market is focused on the cheaper end of the market where foreign-led joint ventures targeting China’s emerging middle class are piling pressure on indigenous entry level manufacturers like Geely and Chery.
With too many kids, Chery Auto lives off Beijing benefits | Reuters - Research by state-owned China Lianhe Credit Rating Co shows that Chery would have lost money in each of the past three years were it not for government subsidies. The losses for 2009 and 2010 are noteworthy because auto sales soared then, thanks to Beijing’s incentive programs.
Stock tax reform ‘may buoy market’ |Center |chinadaily.com.cn- In a move aimed squarely at encouraging individual investors to take a long-term approach to their stock market planning, the Ministry of Finance had earlier announced it will apply a sliding scale to taxes on stock dividends for individuals from Jan 1, 2013. For individuals who hold shares for at least a year, the dividend tax will be halved to 5 percent from Jan 1. The rate will be doubled to 20 percent for those who hold shares for one month or less, the ministry said. For investors who keep equities between a month and a year, the tax will remain unchanged at 10 percent of the dividend.
Deloitte dodges a bullet | China Accounting Blog | Paul Gillis - Palashuk has resurfaced // As far as I know, Chinese regulators have done nothing to bring the perpetrators of the Longtop fraud to justice. U.S. regulators – the PCAOB and the SEC – can’t regulate these companies either. That is because the people and records are in China and Chinese authorities will not allow U.S. regulators to operate on Chinese soil. Consequentially, these companies have fallen into a regulatory hole where neither Chinese nor U.S. regulators can hold them accountable. No wonder we have seen so much fraud.
China’s Next Step in Yuan Overhaul Is Convertibility, Zhou Says – Bloomberg - “For the central bank, I think the next movement related to the yuan is going to be reform of convertibility,” Zhou told the annual meeting of International Financial Forum, an advisory organization, in Beijing yesterday. “We are going to realize it, we are moving in this direction, we need to go further, we will have some deregulation.”
POLITICS AND LAW
Xi Jinping might be strong reformer China needs – to surprise of the West | South China Morning Post -Wang Xiangwei–In fact, the prevailing view among China’s elites seems to be that undertaking a new round of reform is the only way forward, and even its most liberal-minded economist, Wu Jinglian, said over the weekend that the 18th congress had put reform back on the agenda, and that now implementation was the key.
The Chinese Party Congress Wrap-Up: 3 Surprises – Damien Ma – The Atlantic - It is of course easy to dismiss all of this as style over substance. But I wouldn’t underestimate just how much Xi’s likeability will matter to his domestic constituency in terms of governance and how the image of China may change under the princeling president who one could conceivably have a beer with.
习近平与彭丽媛的爱情故事-财经网 - Caijing running some great family pictures of Xi Jinping
党内“内阁”大变脸 中共确立新重心_多维新闻网 - changes to CPC Secretariat a sign increased importance to be attached to religious affairs, esp tibet and xinjiang issues?//【多维新闻】中共新一届常委人选尘埃落定，外界对新常委势必要展开一系列的评头论足。但替中共常委负责处理具体事务的被俗称为党内“内阁衙门”、“军机处”的中央书记处，其人事设置发生重大变化，让外界猜测不已。…多维新闻此前披露的中宣部长以及中组部长将分别由刘奇葆和赵乐际担任，看来已经是铁板钉钉。目前，刘奇葆和赵乐际还没有去职四川和陕西书记，按照上一届的惯例，中共半个月以内会公布他们的职务调动。//Duowei says Liu qibao will be minister of propaganda, zhao leji will be head of organization department
Review & Outlook: Parsing China’s New Politburo – WSJ.com - The consensus is that the hardliners defeated reformers, and political liberalization is unlikely. While there is some basis for this assessment, it’s important to remember that the experts are wrong all the time. Outgoing leader Hu Jintao was heralded as a potential political reformer when he came to power in 2002, but his term has seen an increase in political repression and a slowdown in economic liberalization.
胡裸退习亲民赢好评 江泽民显尴尬_多维新闻网 【多维新闻】中共新一届领导班底现已全部敲定，胡锦涛未延续江泽民留任军委主席的先例，而是选择了“彻底引退”，引得了一阵好评，称这是中国政治生态的一次转机。同样地，习近平作为新一届领导核心，在首次与中外记者的见面会上的亲民风格和语言，也赢得了国内外的认可。比照而言，江泽民早已被诟病的“老人干政”，以及未出席15日会见党代表的活动及合影留念，被指为“很尴尬”。
Charlie Rose – Leadership in China Ian Bremmer, president and founder of The Eurasia Group; Richard McGregor of the Financial Times and author of “The Party; and Jim Fallows of the Atlantic and author of “China Airborne”
习近平：物必先腐 而后虫生_网易新闻中心 - assuming initial signs of corruption crackdown are correct, how far and how high will it go? public so cynical, they can’t talk this way without taking some scalps, but if take too many or too big scalps public will become even more cynical.Walking on a knife’s edge//核心提示：11月17日上午，十八届中共中央政治局就深入学习贯彻党的十八大精神进行第一次集体学习。在说道反腐问题时，习近平表示，“物必先腐，而后虫生。”事实证明，腐败问题越演越烈，最终必然会亡党亡国！
习近平体育情结：绿茵场秀脚法 曾现场观看NBA_新闻_腾讯网 - Xinhua slideshow on Xi Jinping’s love of sports, esp football (soccer) and basketball…he is not going to go Putin on us is he? //
China’s new leaders: Time to choose | The Economist - Yet an underlying force for change is coming from below. The Chinese people are cynical about politics and expect little but graft from their leaders; but they are also gradually becoming angrier. In his first speech Mr Xi admitted that the party faces “severe challenges” and said that corruption must be dealt with. With luck that is a sign that he will act against those vested interests, rather than just paying lip service to reform. Playing safe is not an option, given the scale of China’s problems. The princeling must become a bold king.
Family Ties and Hobnobbing Are Keys to Power in China – NYTimes.com - The Communist Party and its acolytes like to brag that the party promotion system is a meritocracy, producing leaders better suited to run a country than those who emerge from the cacophony of elections and partisan bickering in full-blown democracies. But critics, including a number of party insiders, say that China’s secretive selection process, rooted in personal networks, has actually created a meritocracy of mediocrity.
习近平：胡主席主动提出不再担任军委主席_网易新闻中心 - 核心提示：11月16日，胡锦涛和习近平出席中央军委扩大会议。胡锦涛表示，习近平是合格的党的总书记，也是合格的中央军委主席。习近平表示，胡主席主动提出不再担任中共中央总书记、中央军委主席职务。党的十八大和十八届一中全会尊重胡主席的意愿，同意了他的请求。
China’s Xi praises Hu for voluntarily giving up power | Reuters- “Chairman Hu, giving full consideration to the development of the party, country and military, voluntarily proposed no longer holding the positions of party general secretary or chairman of the military commission,” the official Xinhua news agency cited Xi as saying. ”The entire 18th Party Congress respected Chairman Hu’s willingness (to step down), and agreed to his request,” Xi said at a military commission meeting held on Friday.
Internet and governance in China|chinadaily.com.cn - The Internet is influencing governance in China – in most cases for the better. The impact the Internet is having on governance can be gauged from an event on Tuesday, small in scale but huge in significance. The media center of the 18th National Congress of the Communist Party of China organized online discussions between CPC delegates and netizens, which showed how important a channel the Internet has become for the Party to solicit people’s opinions.
China uncovers luxury bag fakery, arrests 73 – Xinhua | English.news.cn- Chinese police, working with U.S. law enforcers, uncovered a major transnational criminal case of manufacturing and exporting fake international brands and arrested 73 suspects. The police has confiscated over 20,000 counterfeit bags branded as Louis Vuitton, Hermes or Coach, closed 37 illegal sites for the production and sale of such bags, and found that the suspects have manufactured and sold more than 960,000 such fake bags, the Ministry of Public Security said in a statement Sunday.
FOREIGN AND DEFENSE AFFAIRS
Southeast Asia calls for talks with China on sea dispute | Reuters - Southeast Asian nations displayed a rare show of unity on Sunday against China’s sweeping maritime claims, calling for the first formal talks with Beijing over a sea dispute that has raised tensions and exposed deep divisions in the region.
Arms race explodes as neighbours try to counter China - Defence spending across the region increased 13.5 per cent to $US25.4 billion ($24.5 billion) last year and was expected to rise to $US40 billion by 2016, the Stockholm International Peace Research Institute said. Flush with economic success and wary of China’s military expansion, countries are acquiring sophisticated sea- and air-based arsenals that include dozens of submarines that can operate in secret.
Remarks by National Security Advisor Tom Donilon — As Prepared for Delivery | The White House In less than 48 hours, President Obama will embark on his first foreign trip since his reelection. He’ll travel to Thailand, make an historic visit to Burma, and conclude his trip in Cambodia for the East Asia Summit. His decision to travel to Asia so soon after his reelection speaks to the importance that he places on the region and its centrality to so many of our national security interests and priorities.
Chinese vessels sail near Senkakus for 30th day | Kyodo News - When a Japanese patrol vessel warned the new Chinese maritime surveillance vessels not to sail near the territorial waters, one of them said in Chinese via radio that the islands are traditionally Chinese territory, according to the 11th Regional Coast Guard Headquarters in Naha, Okinawa Prefecture.
Abe to make educational system more conservative – AJW by The Asahi Shimbun- To change that, the LDP plans to drastically reform the standards used in the school textbook screening process. ”(We aim to change the standards) so that children can learn with school textbooks that lead them to have pride in Japanese traditions and cultures,” the document says.
CDB Pursuing Increased Investment in Russia -Caixin - Lie Kegu, former deputy governor of CDB and a senior consultant at China’s largest policy bank, said the bank had interest in opportunities in Russia’s infrastructure, electricity, and oil and gas, especially in Siberia. The CDB, which has a representative office in Moscow, has outstanding loans totaling US$ 30 billion in Russia, Lie said.
外交部新发言人出身干部家庭 大学外号“迎春花”_资讯频道_凤凰网 - ministry of foreign affairs has a new spokeswoman// 11月16日，中国外交部新闻司司长秦刚宣布，新闻司副司长华春莹任外交部新发言人，下周一她将首次主持外交部例行发布会。图为中国外交部新任女发言人华春莹
TECH AND MEDIA
Chinese e-commerce: Pity the parcel people | The Economist - So life is good for China’s etailers, then? Not exactly. The number of digital marketers is increasing and online sales are booming (see chart). Consumers are enjoying lower prices, better service and more variety. The problem? The pressure on margins in Chinese e-commerce is worse than in America, reckons Elinor Leung of CLSA, a broker. “Almost no one makes money,” she says.
从官方消息看新浪微博接受阿里投资的可能性 – 爱范儿 ・ Beats of Bits - Alibaba may invest in Sina Weibo? True, or Sina supporters spreading rumor to boost stock?
SOCIETY, ART, SPORTS, CULTURE AND HISTORY
Five street children found dead in dumpster in SW China – Xinhua | English.news.cn - BEIJING, Nov. 18 (Xinhua) — Five street children were found dead in a dumpster on Friday in southwest China’s Guizhou Province, media reports said Sunday.
Beijing to issue college matriculation policy for migrant children — Shanghai Daily The commission said the new plan will provide equal rights to education and matriculation opportunities for migrant children. However, it did not give a clear answer on whether migrant students who will take the college entrance exams, or “gaokao,” in June 2013 could stay in Beijing for the exam.
“798”的发展危机及深层次管理体制问题_徐勇_博联社 - 透过时态空间封门引发的18大前一桩危险事件- 看798发展危机及深层次管理结构问题
ENERGY, ENVIRONMENT AND HEALTH
Children’s car seats still a rarity |Society |chinadaily.com.cn- China had 114 million automobiles on the road by the end of June, and 76 percent of them were private cars, according to the Ministry of Public Security. One expert’s “optimistic” estimate put the number of child car seats in daily use at just 800,000.
As Wen Jiabao departs, China’s dam plans to accelerate | Reuters - The number of new hydropower projects in China could surge as the country’s populist premier Wen Jiabao retires and a new leadership team races to meet ambitious 2020 energy goals. Dam building slowed considerably under Wen, who personally intervened to block hydropower projects and avoid the potential for protest from local populations.
150 elephants died for ivory load seized at port in Hong Kong | South China Morning Post The 1,330kg haul, worth an estimated HK$10.65 million, was found on Thursday in the middle of a container of sunflower seeds shipped from Tanzania.
Lenin’s Kisses: Yan Lianke–Amazon - translated by one of translator’s of Yu Hua’s “Brothers”// A mystifying climatic incongruity begins the award-winning novel Lenin’s Kisses—an absurdist, tragicomic masterpiece set in modern day China. Nestled deep within the Balou mountains, spared from the government’s watchful eye, the harmonious people of Liven had enough food and leisure to be fully content. But when their crops and livelihood are obliterated by a seven-day snowstorm in the middle of a sweltering summer, a county official arrives with a lucrative scheme both to raise money for the district and boost his career. The majority of the 197 villagers are disabled, and he convinces them to start a traveling performance troupe highlighting such acts as One-Eye’s one-eyed needle threading. With the profits from this extraordinary show, he intends to buy Lenin’s embalmed corpse from Russia and install it in a grand mausoleum to attract tourism, in the ultimate marriage of capitalism and communism. However, the success of the Shuanghuai County Special-Skills Performance Troupe comes at a serious price.
Bookshelf: Absurdist China – WSJ.com - Life is nothing but a circus. Such is the message of Yan Lianke’s absurdist “Lenin’s Kisses,” a tale of political lunacy and greed set in modern-day China. In this sprawling novel, an ambitious county official forms a traveling freak-show of the disabled. His aim is to raise enough money to buy Vladimir Lenin’s embalmed corpse from Russia to display in China.