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China News 08/2013 (Page 5)



Steeled for change: China's bloated industry to face market forces
Fri Aug 16, 2013 5:35am EDT. * Top officials tending toward market reforms. * Direct state intervention in steel sector has failed. * Bankruptcies unpalatable, subsidies unsustainable. By David Stanway. BEIJING, Aug 16 (Reuters) - Momentum is growing ...

Buffett Acolyte Zhao Returns to China Stocks
Zhao Danyang, the Chinese investor who won a charity lunch with billionaire Warren Buffett in 2008, led his hedge funds to post returns three times more than their Asian peers this year by shifting assets back to Chinese stocks. Zhao's Hong Kong-based ...

HK economy grows 3.3 pct on Chinese tourists
HONG KONG (AP) — Hong Kong's economy picked up a little steam in the second quarter as local consumption and mainland Chinese tourist spending in the trade-reliant Asian financial center helped make up for weak global demand. Growth remained ...

China Stocks Roiled as Bad Trades Spur Biggest Swings Since 2009
China's stocks were roiled by a trading error at Everbright Securities Co. (601788) that spurred a 53 percent surge in volumes and sent the Shanghai Composite Index to its biggest intraday gain since March 2009. The Shanghai gauge jumped from a loss of ...

Easy Credit Dries Up, Choking Growth in China
SHENMU, China — As the Chinese economy boomed, few cities soared faster or higher than Shenmu, a community of nearly 500,000 in northwestern China. Enlarge This Image. Adam Dean for The New York Times. In Shenmu, China, stores have closed, ...

China mogul's villa in the clouds coming down
It must have been good while it lasted. A traditional medicine mogul in China who spent a chunk of his fortune converting the roof of a 26-storey Beijing apartment building into a faux-mountain-top villa, complete with ornate gardens (albeit made with ...

China, Japan, and India's Asian Arms Race
China and Japan managed to get past the Aug. 15 anniversary of the Japanese surrender in World War II without incident. For weeks leading up to the date, the question was, will he or won't he? Will Shinzo Abe, the conservative prime minister who last ...

Asian Stocks Post Weekly Gain as Chinese Shares Rally on Economy
Asian stocks rose this week after Chinese shares rallied amid signs the world's second-largest economy is stabilizing, and as companies from Lenovo Group Ltd. to Tata Steel Ltd. posted profit that exceeded estimates. China Shenhua Energy Co. (1088 ...

EU asks WTO to rule over dispute over China's anti-dumping duties on steel pipes
BEIJING — The European Union on Friday asked the World Trade Organization to rule in a dispute over Chinese anti-dumping duties imposed on steel pipes imported from EU countries. The EU said in a news release that it made the request to the WTO after ...

China to Boost Foreign Investment in Industries Serving Elderly
China will simplify procedures and cut administrative fees for industries related to the elderly as the nation seeks to manage its aging population, Premier Li Keqiang said in a State Council statement yesterday. The government wants to make it easier ...

China grapples with rash of fake officials
BEIJING — He had the swagger and the trappings of a senior party cadre, and a natural authority that made him hard to contradict. The walls of his office in the heart of the Chinese capital were adorned with photographs of him next to retired generals ...

Industrial overcapacity hits China
Beijing, Aug 17 — More than 1,400 companies in 19 industries in China have been asked to reduce their production due to overcapacity, the ministry of industry and information technology has said. The reduction must be completed by the end of September ...

China's Cherry Bomb
A partnership between the Agriculture Department and a Chinese e-commerce company lets Chinese consumers buy fresh fruit directly from the Pacific Northwest. Demand is high. Like · Tweet. We all know U.S. consumers have a voracious appetite for ...

Prominent Advocate Held in Southern China
HONG KONG — The police in southern China have detained an outspoken advocate of democratic rights on charges of disrupting public order, his lawyer and human rights groups said Saturday. They called his detention another step in a government effort to ...

China to Ease Foreign Investment Rules for New Free Trade Zones
China plans to suspend some laws on foreign investment in proposed new free trade zones including Shanghai as part of Premier Li Keqiang's drive to open up the economy to sustain growth. The changes will provide “innovative” ways of opening up the ...

JP Morgan Under Investigation for Hiring Practices in China
HONG KONG—An investigation by U.S. regulators into hiring practices by J.P. Morgan Chase in Hong Kong touches on a common issue for many big investment banks: the hiring of children of senior Chinese officials. U.S. regulators are investigating J.P. ...

China July Home Prices Rise as Big Cities Post Record Gains
China's new home prices rose in almost all cities in July, led by gains in the biggest metropolitan centers, amid expectations that the government won't further tighten property market restrictions. Prices climbed in 69 of the 70 cities the government ...

UPDATE 1-Missing refinery deal halts landmark China-Afghan oil project
Sun Aug 18, 2013 4:41pm IST. * Chinese staff temporarily sent home to save money. * Refinery deal with Uzbek government under discussion. * Landmark project had reassured other foreign investors (Adds context, detail). By Jessica Donati. KABUL, Aug 18 ...

China's new college graduates struggle to put their skills to work
BEIJING — Li Sha, 23 and with a fresh college degree in waste water management, meandered tentatively through the Saturday job fair at the China International Exhibition Center. She passed booths advertising vacancies for software whiz kids, Sichuan ...

China's July Home Prices Rise as Nation Seeks Long-Term Measures
China's new home prices rose for a third month in all but one city in July, led by gains in the biggest metropolitan centers on anticipation the government will focus on a longer-term housing plan than immediate curbs. Prices climbed in 69 of the 70 ...

Best Earnings Surprise Since 2005 Fuels Gains: China Overnight
The biggest earnings surprise by Chinese companies traded in New York since at least 2005 sparked the best weekly advance this year for E-House (EJ:US) China Holdings Ltd. to Phoenix New Media Ltd. (FENG:US). Twenty-six of the 29 companies on the ...

China's Rising Home Prices Unstoppable
Any investor that bought a piece of real estate in China (especially Hong Kong) has got to be feeling like a genius right now. Even though Beijing has tried putting out the fire, the Chinese housing market is just too hot. Buckets of cold water and ...

Property Mogul Wang Emerges as China's Richest Person
Wang Jianlin, owner of China's biggest commercial land developer, is the nation's wealthiest person, based on regulatory filings that show his non-real estate businesses are more valuable than previously calculated. The chairman of closely held ...

Glaxo Trips for Chinese Doctors Played to Overburdened Medical System
BEIJING—GlaxoSmithKline PLC employees in China are said to have organized an all-expense-paid trip in May for a group of doctors to tour the scenic river town of Guilin, one of China's premier tourist destinations. The goal: Get Chinese doctors to ...

Seeing the system in its own context
The lecturer in Chinese politics at Oxford University says it is important, instead, to see the world's second-largest economy on its own terms. "Western political science generally uses research models that derive from Western experience and they ...

China Portrays Bo Trial as Victory for Xi's Anti-Graft Campaign
Former Politburo member Bo Xilai's trial in the provincial city of Jinan this week is the most prominent in a series of graft cases at the heart of Chinese President Xi Jinping's bid to cement control with a promise to clean up the Communist Party. Bo ...

China Gerui Advanced Materials Group Limited Announces Conference Call to ...
China Gerui Advanced Materials Group Limited Announces Conference Call to ...

Chuck Hagel holds first Pentagon talks with Chinese
WASHINGTON — In his first Pentagon meeting with his Chinese counterpart, Defense Secretary Chuck Hagel faces a familiar agenda marked with tensions over U.S. missile defenses, Chinese cyberattacks and other issues. But if the talks follow form, they ...

Hiring the Well-Connected in China
It's rough going for China's elite. This week the show trial for Bo Xilai, the purged politician who is one of the country's most high-profile princelings, or children of top-level officials, is scheduled to open. In the days before the Bo trial begins ...

Banks Work Around China's Lending Limits
Chinese regulators have tried for months to rein in lending by the country's banks, most recently by instigating a cash squeeze that left some scrambling for funds. But the banks have stayed one step ahead, keeping the lending spigots open largely ...


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