The Sinocism China Newsletter 06.24.15

Today’s Links:

AnchorTHE ESSENTIAL EIGHT

1. CPC meeting warns of slack discipline enforcement in SOEs – Xinhua The statement also said that a fresh round of inspections will be launched at 26 governmental agencies, institutions and SOEs including the Ministry of Transport, the People’s Daily, the China Resources and the Aluminum Corp. Maximum effort should be applied when governing the Party, and inspection work is integral to implementing this, the statement said. As the drive to strictly govern the Party deepens, inspection work has been closely linked with the “Four Comprehensives,” it said, adding that inspections have helped curb and deter discipline violations. “Solutions to problems in China rest with the CPC, and to solve the problems of the CPC should rely on strengthened supervision of the Party by the party itself and by the public,” it said. “To maintain the advanced nature and health of the Party is a major challenge for us,” it went on. “It has been proven that the CPC is able to correct its own mistakes.”

Related: China’s graft-busters train sights on new round of targets | South China Morning Post The Central Commission for Discipline Inspection said in an article on its website that the companies to be targeted in this year’s second inspection round included China Resources Group, China National Travel Service (HK) Group Corporation, China Merchants Group, China Eastern Airlines, Anshan Iron and Steel Group, and China Aerospace Science and Technology Corporation. Apart from party mouthpiece People’s Daily, official bodies targeted include the State Council’s poverty relief and development leading group, the Ministry of Transport, the National Railway Administration, the Taiwan Work Office of the Communist Party and party journal Qiushi.

Related: 王岐山:巡视顺党心合民意 要为全面从严治党做出新贡献—中央纪委监察部网站 经中央批准,2015年中央第二轮巡视将对中央台湾工作办公室、中央直属机关事务管理局、交通运输部、国家机关事务管理局、国家铁路局、中国民用航空局、国务院扶贫开发领导小组办公室、人民日报社、求是杂志社、中国航空集团公司、中国东方航空集团公司、中国港中旅集团公司、招商局集团有限公司、中国航天科技集团公司、中国航天科工集团公司、中国航空工业集团公司、中国兵器工业集团公司、中国兵器装备集团公司、中国商用飞机有限责任公司、华润(集团)有限公司、鞍钢集团公司、中国铝业公司、中国第一重型机械集团公司、哈尔滨电气集团公司、中国邮政集团公司、中国铁路总公司等26家单位进行专项巡视。// the full list of the next inspection tour victims…

2. Background Briefing on the U.S.-China Strategic and Economic Dialogue MODERATOR: All right, thank you very much, Steve, and thanks to everyone for joining us today. As Steve said, this will be a call on background; it will be attributed – attributable to a senior State Department official – no names or titles please. But just for everyone’s awareness, the person we have with us today is [Senior State Department Official]. But again, from here on out, refer to [Senior State Department Official] as a senior State Department official. And today’s call will be about the Strategic and Economic Dialogue, and with that, I will turn it over to our speaker for a few introductory words and then we’ll get to your questions

Related: 以战略定力促中美关系行稳致远(钟声)-搜狐滚动 People’s Daily commentator Zhong Sheng on US-China relations on even of latest S&ED 

Related: 海外版望海楼:中美关系,有了“压舱石”,还需“定海针”-人民网 People’s Daily Overseas Edition column “Haiwang Lou” on the US-China relationship

Related: 社评:中美战略对话应达到四个目标评论环球网 Global Times commentary on the S&ED 

Related: China, U.S. to focus on length, quality of negative lists in investment treaty talks – Xinhua “During the latest 19th round of negotiations, the two sides exchanged the initial offers of negative lists,” Zhang Xiangchen, deputy China International Trade representative and assistant minister of commerce, said at a press briefing through a translator on the sidelines of the seventh round of China-U.S. Strategic and Economic Dialogue (S&ED) starting Tuesday in Washington D.C. “The negative list itself is a major progress in the negotiations, and both sides described it as a milestone event,” Zhang said, noting that it will “fundamentally change foreign investment administration regime” and “substantially facilitate foreign investment” in China. //19 rounds of negotiations for something probably as big as a phone book…this could go on for years, but no BIT is better than a bad BIT

3. Changing China policy: Are we in search of enemies? | Brookings Institution – Jeffrey Bader Our security, and that of our partners, will not be aided, however, by a strategy that suggests we have decided that China is, or inevitably will be, an adversary. Our allies and partners in Asia certainly welcome our presence, security and otherwise, in the face of a rising and more assertive China, but they do not welcome hostility toward China. They want to see us work out or at least manage our differences, and to do so in a way that promotes continued economic dynamism and lowers tensions in the region. That will require us sometimes to resist unwelcome Chinese behavior that threatens to destabilize the region. It does not require that we make dubious pessimistic assumptions about China’s future behavior and set up a hostile dynamic leading to a downward spiral. China, not the United States, will make the critical decisions about its future. If despite our best efforts, it takes steps that harm the security of our allies and partners or undermine global norms and order, that will be its decision, not ours, and we will need to adjust our strategy accordingly. We should not, however, discard the approach taken by eight presidents since Nixon in favor of an assumption of inevitable hostility and a strategy of across-the-board rivalry that may be compelling in international relations theory but which no president has found persuasive

Related: INTERVIEW/ Kurt Campbell: China should think carefully about provoking South China Sea tensions – AJW by The Asahi Shimbun In an interview with The Asahi Shimbun at his Washington, D.C., office, Campbell discussed a range of topics from Chinese land reclamation in the South China Sea to the relocation of a U.S. air base in Okinawa Prefecture. On the issue of the South China Sea, Campbell emphasized U.S. interests in freedom of navigation, and cautioned China to consider carefully how its actions could affect relations with its neighbors. “China is beginning to understand, and realize, what the United States has known for a long period of time, that when big powers do things, they get more attention than when smaller powers do,” he said.// how big a role might Campbell have in a Hillary Clinton White House? National Security Advisor?

Related: China’s Place in U.S. Foreign Policy – The American Interest KARL W. EIKENBERRY An effective U.S. China policy is best built on a thorough assessment of the context in which Sino-American relations exist and operate.

Related: What if Beijing and Washington understood each other perfectly…but still clashed? – Lowy Interpreter According to RAND, today’s superpowers understand and trust each other little, and both hold subjective views of the other that can be corrected through exchange and interaction. But a century ago, Britain and Germany knew each other intimately, suggesting that their conflict was not simply some intellectual error. Instead, at least one side saw war as unavoidable and even desirable. Is it possible that China and America could understand each other perfectly, and still clash? What if the problem is not one of information or imagination, but of pure stubborn interest? RAND would argue that calamity still arises from those three informational failures. But with the recent passing of John Nash, we are reminded that even enlightened, rational actors making ‘maximising’ decisions can end up in lose-lose outcomes.

4. China’s Stocks Rise Monday in Biggest Intraday Rebound in Eight Years – Bloomberg Business The Shanghai Composite Index rose 2.2 percent to 4,576.49 at the close after sinking as much as 4.8 percent in the morning session, a 312-point recovery that was bigger than any since June 2007.

Related: Big Investors Bet on China Despite Recent Losses – Barron’s With China’s markets weak, investors are aggressively betting the CSI 300 Index — essentially the largest stocks on the Shanghai and Shenzhen exchanges — will surge through July. Surprising as this may seem given the recent weakness, these investors created upside call positions in the past 10 days. They bought Deutsche X-Trackers Harvest CSI 300 Index ETF’s (ticker: ASHR ) July $55, $60 and $65 calls. Other investors sold ASHR December $45 puts, expressing confidence ASHR remains above $45 by expiration.

Related: China Traders Cut Margin Debt in First Two-Day Drop Since April – Bloomberg Business Chinese traders sold shares purchased with borrowed money for a second day on Tuesday, the first back-to-back decline since April, after the benchmark stock index tumbled the most since the 2008 global financial crisis. The outstanding balance of margin debt fell 0.7 percent on Tuesday and 0.2 percent last Friday on the Shanghai Stock Exchange, according to bourse data. Margin debt rose to a record 1.48 trillion yuan ($238.5 billion) on June 18. The Shanghai Composite Index reached a seven-year high on June 12 before slumping 13 percent last week.

Related: China Shares Rally as IPO-Induced Funds Return – WSJ Chinese stocks are rallying in early trade, boosted by a return of funds previously locked up for purchases of initial public offerings

Related: 复盘900点巨震_证券时报网 “Peizi” loans selling pressures peaked Friday, have passed, says Shanghai Securities Journal  //  A股昨日度过了惊心动魄的一天。各大指数午前均快速跳水,沪综指击穿60日均线,6个交易日内最多时下跌逾900点。随后午盘又强劲反弹,走出“深V”反转。牛市中投资者情绪在“贪婪”与“恐惧”间的切换,在短短几个交易日中尽显无遗。 上证报记者了解到,在昨日指数大落大起之后,场外配资平仓洪峰或已平稳度过,市场自发降杠杆的过程可能暂告一段落。而在高风险偏好资金离场之后,牛市节奏有望更趋稳健,行情热点也将围绕更具确定性的改革预期与业绩改善展开。

5. China puts $6 trillion price tag on its climate plan | Reuters Xie Zhenhua, special representative for climate change affairs at China’s National Development and Reform Commission, said the objectives China will outline by the end of June will be “quite ambitious”. Xie was participating in a three-day Strategic and Economic Dialogue forum in Washington where he met with counterparts in the Obama administration, including U.S. climate negotiator Todd Stern, Environmental Protection Agency Administrator Gina McCarthy and Energy Secretary Ernest Moniz.

6. 我能来美国,都是托作弊的福-新闻-中国新闻周刊 you can buy TOEFL cheating packages on Taobao…China Newsweek looks at how people cheat on the various exams needed to go to school in the US  //  零花钱、压岁钱、书本费、报名费、参加活动的各种费用从进入高中的第二年开始,赵晨宇(化名)不断地以各种名目从父母那儿要钱。得到的每一笔钱,都让他朝着父母为他制定的留学美国的目标逼近一步。赵晨宇没有挥霍父母给他的钱,而是省吃俭用,悄悄把它们积攒下来。在自己的淘宝账户里,他接受了同学的推荐,秘密参加了昂贵的“名师保分”托福考试培训,而这种“培训”的内容只有一项——帮助他在托福考试中作弊。

7. Internet Companies Writing New Prescription for Health Care Industry-Caixin Companies offering health-related apps are looking for more tangible – and profitable – offline options, a change that could revolutionize the medical sector

8. “接盘富豪”车峰财新周刊频道财新网 Caixin out with another long article on the detention of Che Feng, son in law of former PBoC head Dai Xianglong. Dai is not mentioned in this article but the rumors are getting thick in Beijing that Dai himself has been detained and that he is giving up lots of names and details, which if true could make some tigers quite nervous… //  多位消息人士对财新记者证实,车峰被查,动因之一是2015年1月落马的原安全部副部长马建及北京盘古氏投资有限公司实际控制人郭文贵案;此外,车峰还涉嫌非法洗钱等问题,所涉金额极为巨大。 财新此前报道称,郭文贵分别与车峰和马建熟识,车峰经郭文贵介绍结识了马建。知情人士告诉财新记者,郭车两人过从甚密。车峰曾向一直苦于资金短缺的郭文贵提供借款6亿元。 财新记者调查发现,车峰与郭文贵还涉及另外一桩交易。2012年9月,即车峰控制的数字王国借壳奥亮集团前夕,郭文贵以郭浩云的身份,从车峰兄长车涛手中买入8.6%的奥亮集团股份,2015年1月16日全部套现,净赚8000多万港元。彼时,郭文贵与原北大方正集团CEO李友的对战已经两败俱伤,李友于1月4日被带走,郭文贵逃亡海外仅以身免,其在北京公司高管遭调查,公司银行账号被封。而马建则正是在1月16日被中央纪委宣布接受调查。车峰落网或许并非句号。是否会借此清查他的财富积累过程,是否存在其相关人士利用权力、围猎权力获取财富的事实,外界相当关注。

 

AnchorBUSINESS, ECONOMY AND TRADE

Explosive local govt debt issuance threatens China central bank’s easing efforts | Reuters Traders are betting government bond yields will rise rather than fall in coming months on the back of more debt sales, producing a tug-of-war between a People’s Bank of China (PBOC) determined to prop up flagging economic activity and a bond market awash with supply. “The sudden fall in government bond futures really runs against the overall monetary easing trend,” said a senior trader at a major Chinese bank. “It reflects market sentiment that investors are supplied with too much new debt of late, including local government bonds.” Five-year September 2015 government bond futures suffered their worst trading day of the year on May 26.

China’s renminbi liberalisation leaves capital controls intact – FT.com The IMF’s 2014 report classified the renminbi as “fully” or “partly” convertible on 35 items, with most of the remaining five related to cross-border investment by individuals and the sale of stocks and bonds by foreign companies. Analysts say the PBoC is prepared to declare that full convertibility has been achieved once all or most of the five remaining items are “partially convertible”, even if investment remains subject to approval requirements and quotas.

Beijing Tries an Old Script in Debt Drama – WSJ “Banks will remain the biggest buyers of local government bonds, which means the risk will stay in the system. It’s the same accounting treatment that Beijing used in the 1990s,” said Terry Gao, a senior analyst at Fitch Ratings. Beijing allowed governments to negotiate directly with banks to swap maturing loans for bonds. As an enticement, the government is allowing banks, which face a squeeze on income because of the lower interest rates they are getting, to use the bonds as collateral for low-cost loans from the central bank. “The debt swap is effectively a debt restructuring for banks,” said Zhu Haibin, J.P. Morgan Chase & Co.’s chief China economist.

China Aircraft Ex-CEO Said Probed With Airline Officials – Bloomberg Business The former chief executive officer of China Aircraft Leasing Group Holdings Ltd. is being probed as part of a corruption investigation involving officials at China Southern Airlines Co., people familiar with the matter said.

SEC.gov | SEC Obtains Asset Freeze Against China-Based Trader for Suspicious Activity Last Week The SEC alleges that Haijian Luo of Guangzhou, China, made bets that Qihoo’s stock price would rise in the short term and purchased approximately $700,000 of out-of-the-money call options prior to the buyout announcement.  After Qihoo’s stock price rose sharply, Luo sold all of his options and then requested that his brokerage firm wire transfer more than half of his $1 million proceeds to a foreign bank account.  Luo, who is the CEO of a Chinese online gaming company (4399 Co according to the full complaint), had no prior history of trading Qihoo securities in this recently opened brokerage account.

Lower-Income College Students Confident on Employment Prospects-Caixin A vast majority of students receiving financial assistance believe that their academic achievements can lift them out of poverty, with many saying that they will seek a job in government, according to a recent survey. The study, which was conducted by the Center for Public Communication and Social Development at Peking University, found 73.7 percent of the respondents said they hope to land a job in government, the public sector or state-owned firms. Over 90 percent of them said they will look for employment opportunities in large or medium-sized cities. Surveyors randomly sampled 1,200 college students of 60,000 students currently receiving financial aid under Project Hope, a government-affiliated aid program, since 2012.

 

AnchorPOLITICS AND LAW

中纪委网站谈保密工作:有人妄图摆平纪检机关新闻腾讯网 保密是纪律审查的生命线。纪律审查是纪委最重要的权力,也是最容易出问题的环节。有的人一有“风吹草动”,就四处打听消息,利用各种手段“围猎”,妄图摆平纪检机关。能否做好保密工作,关系到查办每一起违纪违法案件的成败。纪委从来信接访到后勤服务的同志,人人重要、个个要害,谁也不准打探情况、跑风漏气、帮着说情。纪委的干部要严守规则、执行纪律、管住细节,从政治纪律的高度来认识保密纪律,时刻紧绷保密这根弦,“严守党的纪律,保守党的秘密”。

Senior Party official stresses Communism research – Xinhua Senior Communist Party of China (CPC) official Liu Yunshan on Tuesday urged researchers to develop communist theories based on the country’s realities. Liu, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, told a group of researchers that, to consolidate people’s confidence in socialism, they should advance research on Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the principles of the Three Represents and the Scientific Outlook on Development. They should also closely follow the latest theories of the CPC, carefully studying President Xi Jinping’s remarks and instructions and explain them to the people, he said.

中纪委批官员迷信:一些机关大楼不设13、14层新闻腾讯网 些机关大楼不设4、13、14层,一些办公室的桌椅摆放讲究朝向、风水,一些干部的案头上赫然摆放石兽、“转运石”等装饰物,更有甚者一些地名因“不吉利”而改,有的工程因“大师”妄议而建,一些建筑因“挡风水”而拆。 全国政协常委、复旦大学教授葛剑雄一针见血地指出,“官员信风水就是一种堕落”。

Exiles angered as China holds beer festival in Muslim county | Reuters The beer festival happened in a village in Niya County in the deep south of Xinjiang, which is overwhelmingly populated by the Muslim Uighur people who call Xinjiang home. Muslims are not meant to consume alcohol, according to the Koran. The Niya government website said the “beer competition”, which happened last Monday just before the start of Ramadan, was attended by more than 60 young farmers and herders. It showed pictures of women dancing in front of a stage and a line of men downing as much beer as they could in one minute. At least was wearing a traditional Uighur skull cap.

 

AnchorFOREIGN AND DEFENSE AFFAIRS

China unveils plans for V-Day parade – Xinhua Xi will present medals to war veterans and the families of the deceased, Wang said. This year is the 70th anniversary of the victory in the Chinese People’s War of Resistance againstJapanese Aggression and the World Anti-Fascist War. It will be the first time China has held a parade to commemorate the events. Qu Rui, deputy director of the Parade Steering Group Office, said representatives of veterans, civilians who supported the army during the war and surviving members of the families of the fallen will take part in the parade, which will “show our respect for veterans, civilians and martyrs alike.” Troops to be reviewed will come from seven military area commands. Navy, Air Force, Second Artillery Force, Armed Police and units under the direct command of thePeople’s Liberation Army(PLA) general headquarters and departments will all take part, said Qu, who is deputy chief of operations of the PLA general staff. Also marching will be representatives of heroic or model troops in the war, he said. Equipment and armaments on display will be mainly home-made weaponry in active service, many of which will be given their first public outing.

Official underlines national defense technology innovation – Xinhua Xu Qiliang, vice chairman of the Central Military Commission, made the remarks during an inspection in east China’s Shanghai and the provinces of Jiangsu and Anhui. “China is in a crucial transition from ‘big’ to ‘strong,’ and our military’s equipment construction is shifting from catch-up research to independent innovations,” Xu was quoted in a statement made public Monday as saying. According to Xu, priorities should be given to research in both basic and cutting-edge fields, and research achievements must be transformed into advanced production and combat abilities in a timely fashion. “The whole of the society should be encouraged to take part in the innovation cause for national defense technologies,” Xu said, urging integrated support of technology, talents and funds as the foundation for better innovation efficiency.

58张军营美图带你穿越一所所中国军校新闻腾讯网 China’s military academies in 58 pictures

Japanese plane circles over China-claimed region in South China Sea | Reuters According to Japanese and Philippine officials, the Japanese P3-C Orion surveillance plane, with three Filipino guest crew members, flew at 5,000 feet (1,524 m) above the edge of Reed Bank, an energy-rich area that is claimed by both China and the Philippines. It was accompanied by a smaller Philippine patrol aircraft.

Defense.gov Deputy Secretary of Defense Speech: China Aerospace Studies Institute  As Delivered by Deputy Secretary of Defense Bob Work, RAND Corporation, Arlington, VA, Monday, June 22, 2015-let’s turn our attention to China, which is the subject of this institute, and also the subject of today’s conference. It’s a rising power and a growing economy and impressive weight in military technical capabilities. And it’s going to present a more significant and perhaps enduring strategic challenge to our nation over the next 25 years, if not beyond, and one the DOD has to be particularly focused on. This does not mean to suggest I think that we are doomed to have an overtly hostile relationship. Indeed, our future relationship, the way we see it, will have elements of cooperation and competition and not open hostility.

China Opens New Land Route to Tibet for Indian Pilgrims – The New York Times Bill Bishop, an American entrepreneur and writer of the Sinocism China Newsletter in Beijing, said he witnessed many Indian pilgrims in matching winter jackets riding on horses last August when he, his partner and their 8-year-old twin daughters did a trek around Mount Kailash. It took them three days. The trail rises more than 5,600 meters, or 18,370 feet, above sea level at the crossing of the Drolma La, the highest pass on the route. Tibetan pilgrims often walk the circuit in one day.// I want to go back, and so do our kids. If you want to go, check out the excellent travel agency we used–Windhorse Tibet. They can design just about any trip you want.

Beijing Police Detain Hundreds of PLA Veterans As Thousands Protest Lack of Pension Authorities in the Chinese capital have detained hundreds of former People’s Liberation Army (PLA) soldiers after thousands of them staged a sit-in outside China’s central military command on Tuesday in protest over a lack of pension and other benefits, protesters said.The protesters, mostly veterans of China’s brief 1979 border war with Vietnam and the Sino-Soviet border conflict of March 1969, converged on the Central Military Commission (CMC) headquarters in Beijing on Tuesday morning. Zhejiang-based veteran Sun Enwei said he had counted around 3,000 retired PLA soldiers outside the complaints department of the CMC before the authorities took some of them to the Jiujingzhuang unofficial detention center on the outskirts of Beijing.

We’ll Meet More Often, U.S. Navy Captain Says to China – Bloomberg Business The U.S. expects further encounters at sea with China’s navy, according to the captain of a U.S. coastal combat ship that has patrolled the disputed South China Sea and met a Chinese ship last month. The countries have agreed codes to help understand each other and talk via radio, said Commander Rich Jarrett, commanding officer of the USS Fort Worth. The language used is similar to that used 20 years ago with the Soviet Union, the U.S.’ former Cold War foe, he said.

Businessman sought in China graft probe seeks Canada refugee status | Reuters Cheng Muyang, known in Vancouver as developer Michael Ching, asked a judge to review a November ruling by the Canadian refugee board that denied him protection. In April, China’s Interpol office released the names of 100 people wanted in its “Sky Net” anti-graft campaign. The list included Cheng Muyang, son of a once high-ranking Chinese official removed from office for graft in 2003. // send him home

 

AnchorTECH AND MEDIA

Cook Says Chinese Tastes Considered in Apple Product Designs – Bloomberg Business Apple Inc. takes Chinese consumer tastes into account when it designs many of its products, Chief Executive Tim Cook said, underscoring the country’s importance to the iPhone maker. The company considers details including color palettes to suit local tastes, Cook said in an interview in the June 17 Chinese-language version of Bloomberg Businessweek

China’s Hillhouse Leads $1 Billion Uber Investment Deal – WSJ The deal, which is in the range of $1 billion, has sparked some controversy as Hillhouse Capital is also an investor in Didi Kuaidi Joint Co., which is China’s largest taxi-hailing app and major Uber competitor in China. Uber is ramping up its efforts in China, pledging to spend $1 billion in the country this year and has launched a separate fundraising round specifically for its China operations, UberChina, on Monday.

Alibaba Sells U.S. Subsidiary 11 Main to OpenSky – WSJ Jack Ma tends to quickly recognize failure and adjust  //  Chinese e-commerce giant Alibaba Group Holding Ltd. said Tuesday it is selling its U.S. online-shopping subsidiary 11 Main to another U.S. online marketplace OpenSky. In exchange, Alibaba is taking a 37.6 percent stake in OpenSky. The deal is an indication of the challenges 11 Main has faced since Alibaba launched the site last year through its California-based subsidiary as its first major foray into the U.S. online shopping market

China to Ban Celebrities From Presenting TV Shows – Hollywood Reporter – The Hollywood Reporter China is planning to ban celebrities from working as presenters on TV shows, according to a new rule by the country’s media regulator, the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT). “TV stations often hire famous actors, actresses and celebrities as guest hosts, especially for popular reality shows, which might result in improper remarks or mistakes during live broadcasting,” ran a report on the state news agency Xinhua. The regulation will officially take effect on July 1.

Momo Receives Going-Private Offer From CEO – WSJ Momo CEO Tang Yan and affiliates have proposed to acquire all the outstanding shares not already owned by the group for $18.90 in cash per American depositary share. This represents a 20.5% premium over its closing price on June 22.

Focus Media’s China Listing Plan Hits New Hurdle – WSJ Zhu Dehong, the chairman of Jiangsu Hongda New Material, the shell company Focus Media plans to use for its backdoor listing in Shenzhen, resigned for “personal reasons,” the rubber maker said in a filing to the Shenzhen Stock Exchange Tuesday. Mr. Zhu’s resignation comes a week after Hongda said regulators were investigating the company and Mr. Zhu for allegedly violating Chinese securities laws. Hongda gave no details on whether these investigations were linked Focus Media’s plan to return to its home turf through what is known as a reverse merger

刘姝威称乐视烧钱模式难以为继-新华网 Interesting critique of LeTV from a well-known finance professor…after he first comments a couple of weeks ago she was attacked online in what looks like an organized astroturfing

Qualcomm Forms Venture With Chinese Firm – WSJ Chinese foundry Semiconductor Manufacturing International Corp. said Tuesday it will form a joint venture company with Qualcomm, Huawei Technologies Co. and Belgian chip research center Imec to develop advanced 14-nanometer chips.

阿里云香港机房为何瘫痪12小时公司频道财新网 Caixin on why Alibaba Aliyun’s Hong Kong cloud data center went down for 12 hours  //  事故发生24小时后,阿里云和运营商对事故原因和细节仍莫衷一是,甚至无辜的消防和电力部门也被拉来躺枪。阿里云作为国内最大的互联网云提供商是否已经准备好

 

AnchorSOCIETY, ART, SPORTS, CULTURE AND HISTORY

China Sees a Chance to Climb Back Into the Game’s Top Tier – The New York Times Now a starting midfielder, Han will get her long-awaited chance at redemption Friday, when a revived Chinese team faces the Americans in the World Cup quarterfinals in Ottawa. The Chinese women went into a long slide after the 1999 World Cup, failing to qualify for the 2011 tournament or the 2012 London Olympics. The team went through coaches like rolls of tape

Rare color photos reveal life in Mao’s Communist China – CNN.com French master photographer Bruno Barbey of Magnum Photos was one of a handful of foreign journalists allowed into Communist China — and one of the only ones to shoot in color.

How China Stepped Into the FIFA Mess – Bloomberg Business Wang Jianlin, China’s richest man, smiled from the middle of the first row, in front of the stage where FIFA President Sepp Blatter was about to be elected to a fifth term as global soccer’s top boss. At Wang’s side on May 29 sat another Blatter, Philippe, the nephew of the FIFA leader and chief executive officer of Infront Sports & Media AG, a sports-marketing company that does millions of dollars worth of business with FIFA. Wang’s Dalian Wanda Group Co. bought Infront four months ago, an acquisition that Wang said would help China raise its global soccer profile and, eventually, play host to a World Cup.

探访中国最穷困人口生活:人畜同住1年吃3次肉新闻腾讯网 屋子分成两半,左侧是牛圈,杂草上散落着牛粪;右侧是人住的地方。这就是四川省大凉山区美姑县拉木阿觉乡马依村村民尔日书进的家。大米每10天逢集时才能吃到,肉一年最多吃3次。// a look at how the poorest in China live

Sinica Podcast-The Brother Orange Saga The story started when a Buzzfeed editor lost his iPhone in an East Village bar in February of last year and blossomed into the Sino-American romance of the century, and probably the most up-lifting and altogether unlikely China story that we can remember. It features Apple products, global crime networks, human flesh search engines, the draw of instant celebrity, and Ellen DeGeneres. Who can resist the cross-cultural romance of Matt Stopera and Brother Orange?

“宝马撞散马自达”视频曝光 慢速处理下还原现场_凤凰资讯 some video of the awful car crash in Nanjing over the wekend that killed two and has set off a firestorm online about police handling of the case so far

 

AnchorENERGY, ENVIRONMENT, SCIENCE AND HEALTH

Allied-Bristol Life Sciences license Harvard research on Chinese medicine blue hydrangea root – Business Insider The pair found that the active ingredient in blue evergreen hydrangea root, called halofuginone, could block a type of rogue T-cell, and they also identified how it blocks these cells. T-cells are the part of the immune system that tackles viruses, but rogue T-cells attack healthy cells and can cause inflammation and damage. This occurs in autoimmune conditions such as multiple sclerosis, type 1 diabetes, and lupus. Allied-Bristol Life Sciences is hoping to use the Harvard research, based on a synthetic form of halofuginone, to develop drugs to treat these types of diseases.

Russia Pips Saudi Arabia in Race to Grab China Oil Market Share – Bloomberg Business China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday. That’s equivalent to 927,000 barrels a day, a 20 percent increase from the previous month. Saudi sales slumped 42 percent from April to 3.05 million tons.

 

AnchorEDUCATION

高考状元语录:“我不是学霸”、“我就是个小菜鸟”特别报道新京报网 the top scorers in Beijing Gaokao for science and humanities are both young women 

 

AnchorFOOD AND TRAVEL

Chinese Railway Tickets to See Unified Appearance and Slight Change – Tracking China Apart from the rather visible “intrusion” of ads (even if it’s for the railways), the new layout is good news in that it unified how HSR and regular rail tickets are shown

Chinese City Defends Dog Meat Festival, Despite Scorn – The New York Times “Why do people always pick on Yulin?” asked Tang Chengfei, 24, a recent university graduate who was sitting at one of the tables. “Haven’t you seen how the Japanese eat live bullfrog sashimi?” Indeed, it is the perceived hypocrisy of the critics that seems to most annoy residents of this bustling city of seven million in the southern region of Guangxi, which borders Vietnam. “I understand the other point of view,” Mr. Tang said. “Many people feel a special bond with dogs. But we grew up around dog meat. For us, it’s normal.”

 

AnchorBEIJING

经济参考网 – 京津冀拟统一编制“十三五”规划 将进行经济社会发展规划、城乡规划、土地利用规划“三规合一”试点 Economic Observer-to further the Beijing-Hebei-Tianjin integration plan, the three will jointly prepare their contribution to the upcoming 13th 5 year plan preparations 

北京新房成交创3年同期新高 大兴通州成交量靠前-新华网 Beijing new home sales at a 3 year high

Megalopolis: the future of urban planning in China | South China Morning Post Plan to link Beijing, Tianjin and Hebei into city the size of Uruguay and as populous as Japan is seen by president as template for urbanisation

京津冀协同发展纲要呼之欲出 中央牵头破除利益壁垒要闻一财网 多名受访人士预计,纲要将对京津冀地区进行大规模的手术改造。未来,从行政到经济,该区域都将发生较大变动,从根本上改变京津冀地区的发展动力和模式。

Beijing govt’s relocation plan to Tongzhou seen as wise move- China.org.cn Beijing needs to relocate municipal administrative bodies to the eastern Tongzhou district to ease the pressure on public services, according to the capital’s leading think tank. The Beijing Academy of Social Sciences released its annual report on public services on Tuesday, saying the gap between public services in different areas of the city has not narrowed in recent years.

 

AnchorJOBS AND EVENTS

InitialView | Not Your Ordinary Job education services firm InitialView is looking for a few key people to join the Beijing team

 

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