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China News 05/2012 (Page 8)



16 Retired Chinese Aides Call for 2 Top Officials to Quit
BEIJING — In a rare sign of open opposition against two of China's most powerful leaders, a group of retired Communist Party members have called for the resignation of the country's security boss, Zhou Yongkang, and a top propaganda official, ...

Will China Mobile Finally Get the iPhone?
By Angela Moscaritolo China Mobile, the world's biggest telecom carrier, is currently in talks with Apple to offer the iPhone, the company's new chairman told shareholders Wednesday. Bloomberg is reporting that China Mobile Chairman Xi Guohua told ...

China's CCTV headquarters is completed, joining Beijing's architectural new wave
BEIJING — The futuristic building — with two leaning towers linked with a 90-degree twist at the top — has attracted much controversy since the day its design debuted a decade ago. Now, it is ready for occupation by China's staid state TV ...

McDonald's to Almost Double China Employees as Gears Up
McDonald's Corp. (MCD), the world's largest restaurant chain, will hire 70000 people in China this year, almost doubling its workforce there, as it accelerates new store openings in the Asian nation. On May 20, all 1400 McDonald's stores in China will ...

China Postal Express IPO to Fund Online-Shopping Push
By Jasmine Wang on May 16, 2012 China Postal Express & Logistics Co., the nation's biggest courier, is seeking 9.98 billion yuan ($1.6 billion) in an initial public offering as it struggles to keep pace with a domestic delivery market growing 20 ...

Bo's Ties to Army Alarmed Beijing
By JEREMY PAGE And LINGLING WEI BEIJING—In early February, Bo Xilai, then Communist Party chief of Chongqing city, visited a military complex in Kunming, some 400 miles from his political base. It was home to the 14th Group Army, a direct descendant ...

Yuan Drops as U.S. Talks Begin on Weaker Global Jobs Data
Yuan forwards strengthened, rebounding from a four-month low, on speculation policies to stimulate China's domestic demand will help the world's second- largest economy withstand Europe's debt crisis. China will lower lenders' reserve requirements ...

China Expands Scope for Short Selling, Securities Journal Says
By Bloomberg News on May 16, 2012 China will start a trial next week that will allow brokerages to borrow stocks for clients wishing to conduct short selling, the China Securities Journal reported. Brokerages can also borrow money on behalf of clients ...

METALS-Copper rises after 4-day slide, fragile gains
* Shanghai spot prices in premium, demand still lukewarm * LME copper may rebound to $7833/T - technicals * Coming up: US jobless claims, weekly; 1230 GMT (Adds details, comments; updates prices) By Rujun Shen SINGAPORE, May 17 (Reuters) - London ...

Some Chinese steel mills defer iron ore shipments: sources
By Manolo Serapio Jr and Ruby Lian | SINGAPORE/SHANGHAI (Reuters) - Some Chinese steel mills have postponed delivery of iron ore from miners including top supplier Vale as a slow steel market cuts demand for the raw material and producers expect a ...

Yuan ends weaker, BIS data shows China wants stable yuan
By Lu Jianxin and Gabriel Wildau | SHANGHAI (Reuters) - The yuan ended a touch lower on Thursday, tracking the dollar's global movements, while traders said data issued by the Bank for International Settlements (BIS) showed that China intended to keep ...

China Seeks to Assure Workers of Stability
HONG KONG - The Chinese government is seeking to reassure workers of their rights, a move activists say highlights Beijing's concern that possible labor unrest could cause disruptions to social stability. China's latest economic figures indicate the ...

Secondary Sources: Greek Exit, Wisconsin Jobs, Chinese Dissatisfaction
By Phil Izzo –Greek Exit: Lorenzo Bini Smaghi says irrationality is driving the crisis in the euro zone. “Europe's history over the past century should teach us not to underestimate the risk of collective irrationality and the dangers of populist ...

Marcello Lippi to coach in China
AP GUANGZHOU, China -- Marcello Lippi has been hired to coach big-spending Chinese Super League team Guangzhou Evergrande and plans to bring an Italian style to the club immediately. Evergrande released a statement Thursday saying it had hired the ...

China Cosco in Talks to Restart Freight Derivatives Trading
China Cosco Holdings Co. (1919), the country's largest ship owner, is seeking permission to resume freight derivatives trading three years after settling losses of at least $166.7 million. The Chinese government hasn't allowed state-controlled shipping ...

Uzbekistan aims to join China gas supply route in 2012
* Uzbekistan says legal issues delay its gas supplies to China * Uzbektransgas: 2012 China shipments seen at 2-4 bcm * IEA sees Central Asian gas boosting global energy security * Says boosting energy efficiency will spare more gas for export (Adds ...

North Koreans accused of holding Chinese fishermen for ransom
BEIJING -- Chinese fishing boat owners have accused the North Korea military of taking 29 Chinese fishermen on three boats captive and holding them for ransom. The seizing of the fishing boats has opened up a rare public rift between North Korea and ...

US Solar Tariffs on Chinese Cells May Boost Prices
By Ehren Goossens, Brian Wingfield and William McQuillen on May 17, 2012 The US yesterday imposed tariffs of as much as 250 percent on Chinese-made solar cells to aid domestic manufacturers beset by foreign competition, though critics said the decision ...

'Princelings' in China Use Family Ties to Gain Riches
SHANGHAI — The Hollywood studio DreamWorks Animation recently announced a bold move to crack China's tightly protected film industry: a $330 million deal to create a Shanghai animation studio that might one day rival the California shops that turn out ...

America's not perfect, but it's certainly not in decline
“Anyone who tells you that America is in decline or that our influence has waned,” said President Obama in his 2012 State of the Union address, “doesn't know what they're talking about.” It was a “rah-rah America!” applause line for a president who ...

China Sentences Ex-Fugitive to Life in Prison
By CARLOS TEJADA BEIJING—A court sentenced a man once labeled China's most-wanted fugitive to life in prison, according to state media, bringing an end to a case that highlighted the depth of official graft there and had inflamed tensions between ...

Only reforms can revive China's growth: Andy Xie
By Andy Xie BEIJING ( Caixin Online ) — China's April economic data continue to show deceleration. The odds are that the slowdown in the second quarter is more dramatic than in the first. Imports didn't rise in April, exports rose by 4% and ...

Deleveraging China
By TOM ORLIK As good Marxists, China's leaders know that all economic systems carry within them the seeds of their own destruction. So it is with China's credit-fueled growth. The ratio of credit to gross domestic product ballooned from about 134% in ...

MetLife China sees strong insurance demand
By MarketWatch SHANGHAI (MarketWatch) -- Chinese demand for life insurance is set to remain strong in the coming years due to a fast-ageing society and an increasingly mobile population as the country's pace of urbanization accelerates, MetLife China ...

Forget Greece, China Biggest Risk to Global Economy: Faber
Forget Greece, which is an "insignificant" economy, it is China that poses the biggest risk to the global economy, Marc Faber the editor and publisher of the Gloom, Boom and Doom report told CNBC on Friday. The European Central Bank [cnbc explains] ...

Yuan Completes Worst Week Since January on China Growth Concerns
The yuan had the biggest weekly drop since January on concerns over a default by Greece and a slowdown in the world's second-largest economy. New home prices in China declined from a year ago in 46 out of 70 cities last month, the statistics bureau ...

China's Bo Xilai scandal revs up news media run by exiles
The scandal involving fallen politician Bo Xilai and his wife gives news outlets run by Chinese exiles a lot of ammunition against the Communist Party. Commentator Tang Baiqiao appears on New Tang Dynasty Television as technician Meichu Chen works the ...

Pentagon Study Says China Military Getting Stronger
WASHINGTON — China is pressing a long-range modernization of its military, part of a strategy aimed at maximizing its leverage over Taiwan, extending its influence farther abroad, but avoiding conflict around its borders or with the United States, ...

Rematch for Liu and Richardson in Shanghai
AP SHANGHAI -- Liu Xiang's hurdles rematch with Jason Richardson is the most anticipated race of the Shanghai Diamond League meet on Saturday. Dayron Robles won the 110-meter hurdles at the world championships in Daegu, South Korea, last August, ...

How Did Wal-Mart Crack Open China?
Wal-Mart Stores (WMT) entered China in 1996 and has billions of sales there. But how did it crack China? One big answer is a 65%-Wal-Mart-owned joint venture with a company run by the son of a former Chinese vice president who was tossed in 2009 out by ...


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