Just links today:
- Top Five: Rock and Roll in China: An Insider’s Journey – Scene Asia – WSJ
The jaded Western music establishment can learn a thing or two from China, Jonathan Campbell says.
The 37-year-old, who spent four years in Beijing as a band promoter, documents the relatively brief history of Chinese rock in his book “Red Rock: The Long, Strange March of Chinese Rock & Roll.” “The best of Chinese rock music embodies something that isn’t embodied in this part of the world anymore—hope, energy and survival,” says Mr. Campbell, who now lives in Toronto. “Rock did change the lives of a lot of people, and Chinese rock demonstrates that.”
- 明鏡新聞網: 很黃很貪婪的黃勝副省長，落馬與誰有關？
- Fishermen set eyes on South China Sea resources |Economy |chinadaily.com.cn
SOUTH CHINA SEA – Chinese fishermen are setting their eyes on the vast and largely untapped fishery resources in the South China Sea with the sail of a big fishing fleet to the region.
The fleet of 30 boats, including a 3,000-tonne lead boat carrying fresh water, fuel, and other supply, arrived at Zhubi shoal for fishing on Wednesday, almost a week after it left port in southern Hainan province.
- Paulson sees no hard landing for China|Top Stories|chinadaily.com.cn
given how well he predicted the 2008 crisis, this mean china in real trouble?//
China still has considerable room in which to adjust economic policy and won’t face a “hard landing” this year, former US Treasury secretary Henry Paulson said on Tuesday.
Just back from a trip to China, the man who led President George W. Bush’s 2008 bailout of Wall Street shared observations about the country and his new blueprint for upgrading economic relations between the world’s two biggest economic powers.
“There’s no doubt that the economy has slowed down significantly, and in a number of areas, really slowed down,” Paulson said in an address at the Atlantic Council, a think tank in Washington.
“My own best judgment is that we’re not going to see a hard landing,” he added.
- 卓越航空已停产半年 114亿并购美飞机商起底|114亿|蛇吞象|并购_21世纪网
the chinese company buying hawker shut production 6 months ago?//2012年7月，青岛民营小老板成身棕，一夜间闻名全球。 链接阅读：【成身棕其人】“并购狂人”成身棕：“外行”与“炒作者”？…这一切，源于成身棕运作的一起跨国并购案：他坐镇北京卓越航空工业有限公司（下称“北京卓越航空”），正指挥着聘请的中美律师团队，与拥有80年历史的老牌飞机制造商——豪客比奇飞机公司（下称“豪客比奇”）进行并购谈判，价码高达114亿元人民币…然而，7月16日，本报记者在成身棕旗下企业青岛海利直升机制造有限公司（下称“海利直升机”）现场看到，这家企业由于订单量不够已经停工近半年，院内的杂草长至一人多高。而成身棕的青岛总部，偌大的办公室空空如也，仅9人办公。
- Chinese expedition reaches Arctic Circle – Xinhua | English.news.cn
A Chinese expedition team entered the Arctic Circle Wednesday, beginning a three-month scientific exploration of the Arctic Ocean.
- Tide turning in China’s battle against tobacco – Xinhua | English.news.cn
China’s Health Minister Chen Zhu on Wednesday became the first person from the Chinese mainland — home to one third of the world’s smokers — to receive a prestigious World Health Organization (WHO) award on tobacco control.
- Soldiers of Chinese Armed Police Force take part in special trainings – Xinhua | English.news.cn
- Buyers Bet Wen Can’t Keep Prices Down as Home Sales Gain – Bloomberg
“The possibility that history will repeat remains,” Credit Suisse Group AG analyst Vincent Chan said in a phone interview from Hong Kong, referring to past property surges that followed sales increases.
A 20 percent to 30 percent rebound is possible if the government, similar to past cycles, “mildly drops its tightening policy,” Chan wrote in a July 4 report. Existing home prices in Beijing, Shanghai, Guangzhou and Shenzhen surged 42 percent, 58 percent, 79 percent and 69 percent respectively in the 24 months from February 2009 as China loosened property curbs, according to Credit Suisse…
“Transaction volumes have been picking up, that’s primarily from first-time home buyers,” said Michael Klibaner, Shanghai-based head of China research at broker Jones Lang LaSalle Inc. “Now, with the two interest rate cuts in the last month, the pricing of mortgages has come down too.”
- Yum Profit Trails Estimates as Costs Increase in China – Bloomberg
Yum, which has more than 4,600 locations in China, is facing higher costs for workers and raw materials amid plans to open at least 700 restaurants in the nation this year. Wage rate inflation in China was 13 percent in the quarter and commodity inflation was 6 percent, reducing profit margins.
- Muddy Waters Report Sinks New Oriental: China Overnight – Bloomberg
New Oriental Education & Technology Group Inc. (EDU) sank to a five-year low, leading declines in New York-traded Chinese stocks, after short seller Muddy Waters LLC said financial statements at its units are fraudulent.
- EDU Major Holders | New Oriental Education & Techno Stock – Yahoo! Finance
some big us funds crushed in edu, assuming they held after march 30, 2012 reporting date
- Highlights from Chinese Education Provider New Oriental’s IPO Filing – Seeking Alpha
Underwriters: Credit Suisse, Goldman Sachs, Piper Jaffray . 2006
“After the offering, the CEO will hold 31.18% of the company. Tiger Global Private Investment Partners will hold 14.91%”
- hello 你好 I’m a friend
- Fears of Chinese media crackdown ahead of leadership transition – Telegraph
The apparent toppling of two senior newspaper executives in Shanghai has triggered claims that Chinese authorities are conducting a pre-emptive crackdown on the media in the lead up to this year’s crucial leadership transition.
- Jing Daily: Automaker Red Flag Takes Aim At China’s “Red Collar” Worker
- Shifang protest reflects crisis of local rule in China
China’s feeble public participation system is forcing people onto the streets to protect their environmental interests, as the latest demonstrations in the south-west show. Tang Hao reports.
- Tmall Will Make More than $30 Billion in Sales This Year
Alibaba’s Tmall may have changed its name to Skycat (in Chinese) earlier this year, but it apparently hasn’t changed its habit of selling hundreds of billions of RMB worth of stuff. The company broke 100 billion RMB ($15 billion) in sales in 2011, but it continues to accelerate rapidly, estimating it will rack up more than 200 billion RMB ($31 billion) in sales by the end of this year.
- Asia Sentinel – Meltdown for Asean over South China Sea
Indonesian diplomats scurry across region attempting to put the pieces back together
The combination of aggressive Chinese jawboning and Filipino pride are combining to create a diplomatic crisis in the Association of Southeast Asian Nations that Indonesia is trying desperately to untangle.
- New Oriental Education & Tech Grp (ADR): NYSE:EDU quotes & news – Google Finance
New oriental shares destroyed last couple of days
- ‘It Was Like a War Zone’: A Former Nanny for Rupert Murdoch and Wendi Deng Speaks Out
‘It Was Like a War Zone’: A Former Nanny for Rupert Murdoch and Wendi Deng Speaks
- KPMG localization is a sham | China Accounting Blog | Paul Gillis
It turns out KPMG claims to have only 25 partners, of which 15 are locally qualified, allowing KPMG to just meet the 60% localization test. That is a joke. KPMG claims on its website to have 9,000 staff in China. It has hundreds of partners, who are apparently now going by some other title.
- Busy times | China Accounting Blog | Paul Gillis
Taken together, I think these events indicate that U.S. and Chinese officials may have decided to step back from the abyss and look to find a way to solve the problems related to U.S. listed Chinese companies.
There have been increasing indications that China wanted to stop the use of U.S. capital markets by its private companies. Perhaps the best evidence of this is the fact that there has only been one IPO in the past year and it essentially failed. The China Development Bank has been active in taking U.S. listed companies private. Officials were obviously frustrated with entrepreneurs evading Chinese laws through use of offshore companies and VIE structure. It is in the interest of both the SEC and Chinese regulators to shut down the use of the VIE structure and I would not be surprised to learn they are working together on this.
- Discussion in 2012 with New Oriental about becoming a franchisee on Vimeo
- June 2012 – President & CFO, Louis Hsieh wrongly denying the company is a franchisor on Vimeo
- Initiating Coverage on EDU – Strong Sell | Muddy Waters Research
Muddy waters says there is significant accounting fraud at new oriental. Grim
- China calls for information security – China.org.cn
- Nigeria signs $1.49 bln railway deal with China
- Is This the Week Apple Finally Launches a Product in China Without Incident? – China Real Time Report – WSJ
- UPDATE 1-US SEC delays court action seeking Deloitte China audit papers
- Business Insider-Automaker Red Flag Takes Aim At China’s “Red Collar” Worker
- China’s Wen Warns of Severe Job Outlook as Growth Yet to Rebound – Bloomberg
Premier Wen Jiabao said China’s labor situation will become more “severe,” underscoring concern that the weakest economic growth since 2009 will lead to increasing job losses.
The government will continue to implement a more “proactive” labor policy, Wen said yesterday at a government meeting on employment, according to a statement posted on the central government’s website. The job situation will become more “complex,” Wen said.
- China City Officials Must Reveal Assets for Promotions – Bloomberg
A Chinese city seeking to clamp down on corruption ordered officials to disclose all their family assets on an internal website as a requirement for promotion.
Officials with the position of section head and higher in the eastern city of Huai’an must disclose all their property, their investment portfolios and the timing and price of vehicle purchases, according to a statement posted on a city government website today. There was no provision in the rules for the assets to be revealed publicly.
- Adidas to Shut Down the Only Factory in China Later this Year: Media-Caijing
Adidas has decided to shut down the only factory in China which is directly under its control, Netease reported, in an apparent move to shift its production lines into southern Asia.
- China’s Trusts Could Soon Overtake Insurers in Size – Deal Journal – WSJ
Trust companies, a major component of China’s “shadow financing” sector, could soon leapfrog the mammoth insurance sector to become the country’s second-largest industry for financial services.
- State Council’s Plan for China 2015: 3G Everywhere, 100 Mbps Broadband
China’s powerful State Council released a report yesterday that addresses, among many other things, its plans for the development of the web and mobile sectors in China by 2015. The report indicates that by 2015, 3G coverage should be available more or less everywhere in both cities and rural areas. The report also urges the implementation of IPv6 and fiber-optic broadband.
- Heads roll at Dongfang Daily after call to restrain government｜Politics｜News｜WantChinaTimes.com
One senior official has been sacked from the Dongfang Daily, a Chinese-language newspaper belonging to the Wenhui-Xinmin United Press Group based in Shanghai, while another has been suspended following an article calling for the powers of the government to be reined in, according to Duowei, a news outlet operated by overseas Chinese.
- FT Alphaville » China’s transmission mechanisms in a knot
One of the enduring arguments about China is that the government has ample firepower to sort out the country’s economic challenges. All that fiscal surplus, all those USD reserves. Firepower to burn.
Yet it’s looking increasingly difficult for policymakers to ward off a hard landing without re-igniting inflation and of course, enhancing the country’s already extreme concentration on investment rather than consumption.
- 牌照受限 谷歌地图在华份额降至17.5%_原创_DoNews-IT门户-移动互联网新闻-电子商务新闻-游戏新闻-风险投资新闻-IT社交网络社区
google map’s share in china down to 17.5% amidst license uncertainty and competition?
- China’s property bounce: mixed blessing | beyondbrics
News that Chinese house prices rebounded in June will be welcomed in many quarters. Growth in the second half could get a boost, while it may also help instill a bit more confidence in the general state of the economy.
But for policy makers in Beijing, it provides something of a headache.
The data showed that even in the first tier cities – Beijing, Shanghai and Guangzhou – prices rose last month, the first such increase in a year. As SocGen’s Wei Yao points out, there is also an apparent bottoming in sales, which could allow developers to raise prices further.
- Nearly half of Chinese smartphones to cost less than $200 by 2015: report — Morning Whistle
Smartphones priced under the $200 benchmark will comprise 40% of the Chinese market by 2015, compared with approximately 25% in 2012, research firm Canalys said in a report.
- In China, Long Wait Leads to Standoff with Officials – NYTimes.com
Thousands of people threw water bottles and blocked traffic at a popular nature preserve in northeastern China on Sunday after word spread that the arrival of top Communist Party leaders was causing an hours-long wait to visit a scenic lake. It was one of a string of brash confrontations in recent months between the authorities and Chinese citizens.
- A Catholic Wedding in Beijing – Video Library – The New York Times
In China, people are flocking to the city’s oldest Catholic church for a sense of community, entertainment, or a wedding ceremony, even if they are not Catholic.
- Cambodia Frees Frenchman Linked to China Scandal – WSJ.com
Mr. Devillers flew to Shanghai late on Tuesday night after Cambodian authorities released him without charge at the “suggestion” of the Chinese government, Foreign Ministry spokesman Koy Koung told The Wall Street Journal. Mr. Devillers couldn’t be reached for comment.
“We didn’t force him: He honestly agreed to go to China by himself,” Mr. Koy said, adding that the French Embassy in Phnom Penh was also involved in the decision. “We arrested and detained him at China’s suggestion and now we’re releasing him at China’s suggestion.”
- China’s June Home Prices Rebound as Sentiment Improves – Bloomberg
China’s new home prices in June rose in the most number of cities tracked by the government in 11 months as buyer sentiment improved after the central bank cut interest rates.
Prices climbed in 25 cities out of the 70 the government looks at, the most since July last year. Prices fell in 21 from a month earlier, according to data released by the statistics bureau today. The eastern city of Hangzhou led the gain with a 0.6 percent jump from May, while major cities Beijing and Shanghai recorded gains of as much as 0.3 percent. Home prices were unchanged from May in 24 cities.
- Open letter to Marissa Mayer – News Stream – CNN.com Blogs
- Rising China star set for key promotion: sources | Reuters
Li Zhanshu, 61, was relieved as party boss of Guizhou province in southwest China and succeeded by provincial governor Zhao Kezhi, 58, state news agency Xinhua reported on Wednesday. Li will be “reassigned”, Xinhua said but did not elaborate.
Li, who has close ties to both President Hu Jintao and leader-in-waiting Vice President Xi Jinping, is the front-runner to become head of the powerful General Office under the party’s elite 200-member Central Committee, said two sources with knowledge of Li’s planned promotion.
- Jon Huntsman visits Taiwan, meets DPP chief, talks up Xi Jinping: Shanghaiist
- Chinese Fans Also Not Thrilled With Jeremy Lin’s Move from Knicks to Rockets – China Real Time Report – WSJ
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