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China News 07/2013



China probes staff of Britain's GlaxoSmithKline
SHANGHAI (AFP) – Chinese police are investigating senior management staff of British drug firm GlaxoSmithKline (GSK) in China for suspected "economic crimes", according to a statement. Police in the central Chinese city of Changsha said they were ...

China June property inflation moderates on month: polls
BEIJING | Mon Jul 1, 2013 5:05am EDT. BEIJING (Reuters) - China's property inflation moderated slightly in June on a monthly basis, private surveys showed on Monday, a rare show of results for Beijing's near four-year-old effort to stabilise frothy ...

China Online Petition Website Crashes on First Day
For centuries, China has offered its people a chance to come to Beijing to petition the emperor directly to address grievances. But starting Monday, Chinese officials offered a new way for those not inclined to make the trip: petition online. That ...

China PMI Data Hint at Slowing Economic Growth
BEIJING—China's manufacturing sector showed fresh signs of weakness in June, against a background of strains in the country's financial markets and an effort to rebalance the economy. Two indices of manufacturing activity published Monday came in ...

US nudges China on sea disputes
BANDAR SERI BEGAWAN, Brunei (AFP) – US Secretary of State John Kerry nudged China on Monday to agree a code of conduct to prevent clashes in the South China Sea after the Philippines accused Beijing of a "massive" military build-up. But Kerry ...

Thousands demand China honor Hong Kong democracy pledge
By Greg Torode and Grace Li. HONG KONG | Mon Jul 1, 2013 10:15am EDT. HONG KONG (Reuters) - Tens of thousands braved typhoon rains in Hong Kong on Monday to demand China live up to its promise to allow fully democratic elections there in 2017 ...

China starts anti-dumping probe against European wines
BEIJING | Mon Jul 1, 2013 10:06am EDT. BEIJING (Reuters) - China on Monday formally launched an investigation into whether the European Union is subsidizing and dumping wine in the Chinese market, potentially increasing its leverage in a dispute with ...

US factories rebound, China struggles, Europe shows promise
By Steven C. Johnson and Jonathan Cable. NEW YORK/LONDON | Mon Jul 1, 2013 10:37am EDT. NEW YORK/LONDON (Reuters) - U.S. manufacturing staged a modest rebound in June even as hiring declined sharply but activity among China's large ...

Chinese Malls Waive Rents as Vacancies of 30% Loom: Real Estate
Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies. Preferential leasing terms ...

China to Probe Foreign Infant-Formula Firms
BEIJING—China's top economic planning body is launching an investigation of foreign infant formula providers for suspected antitrust violations, a move that comes as the country's leaders aim to quell widespread fears about the safety of the country's ...

Chinese Malls Waive Rents as Vacancies Loom: Real Estate
Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies. Preferential leasing terms ...

Chinese Makers Boost Polysilicon Output on Tariff Concern
Chinese polysilicon makers led by GCL-Poly Energy Holdings Ltd. (3800) and Daqo New Energy Corp. (DQ) are ramping up production as imports decline amid concerns about retroactive tariffs on the raw material for solar panels. Daqo expects to deliver ...

TPI's Qionglai Facility (QLF) Pre-extraction Plant Scheduled for GMP Inspection
CHENGDU, China, July 2, 2013 /PRNewswire/ -- Tianyin Pharmaceutical Co., Inc. (NYSE Amex: TPI), a pharmaceutical company that specializes in patented biopharmaceutical, modernized traditional Chinese medicine (mTCM), branded generics and active ...

Mixed Results for Japan Auto Makers in China
A Nissan 370Z Roadster sports car, right, known as the Fairlady Z Roadster in Japan, on display at the company's showroom in Yokohama, Japan in May. Bloomberg News. SHANGHAI—Toyota Motor Corp. recorded a second month of sales growth in China ...

Why China Is Ordering Adult Children to Visit Their Parents
Pay a visit to Grandma and Grandpa—or else they'll see you in court. In China, a new law went into effect on Monday requiring people to care for their elderly parents, with provisions calling for children to see them regularly, or at least call on the ...

China to join Russia in its largest-ever naval drills
BEIJING (AP) — China will join Russia later this week for its largest-ever naval drills with a foreign partner, underscoring deepening ties between the former Cold War rivals along with Beijing's desire for closer links with regional militaries. China ...

China Increases Security in Restive Region
BEIJING — The Chinese authorities tightened their grip on the far western region of Xinjiang on Tuesday by confiscating knives and offering rewards for information about possible separatist attacks, according to the state media. The police also issued ...

Glaxo Awaits Details of China Probe 6 Days After Police Call
Six days after police in China began an investigation into GlaxoSmithKline Plc, the U.K.'s biggest drugmaker still has no details on the probe, a spokesman said. Senior executives at Glaxo China are suspected of “economic crimes” and are being ...

Chinese Mainland's Largest Toy Fair China Toy Expo 2013 Expected to Draw ...
Chinese Mainland's Largest Toy Fair China Toy Expo 2013 Expected to Draw ...

China-Japan Tensions Flare Again
TOKYO—Tensions flared up again Wednesday between Japan and China, with Tokyo protesting Beijing's construction of a natural gas drilling rig in contested waters, and China's foreign ministry decrying Japanese Prime Minister Shinzo Abe's refusal to say ...

Beauty Offshore: A Caribbean Passport For A Chinese Restaurateur
In an age of offshore banking and investing, the use of far-flung shell companies in corporate structures in Asia is commonplace. The majority of Hong Kong's public companies are domiciled in low-tax havens, a legacy of the 1997 handover to China that ...

Emerging-Market Stocks Slump on China as Oil Tops $100 a Barrel
Emerging-market stocks were set for the biggest slump in two weeks, currencies sank and bond yields rose on concern the global economy will falter as growth in Chinese services industries slowed and oil topped $100 a barrel. The MSCI Emerging Markets ...

China, neighbors set up hotlines over island disputes
China, confident after a recent high-level meeting in the United States and bilateral talks with regional rivals, is ignoring a second round of US advice to sign a code of conduct that could ease the threat of conflict in a crowded, contested tract of ...

UPDATE 2-Nestle, Danone to cut Chinese infant milk prices amid probe
Wed Jul 3, 2013 12:04pm EDT. * Nestle's Wyeth Nutrition to cut prices from July 8. * Danone's Dumex preparing a price cut proposal. * Move comes amid Chinese antitrust investigation. By Donny Kwok. HONG KONG, July 3 (Reuters) - Swiss food company ...

Chinese Shipbuilder Bows to Demand Slump
BEIJING—A major Chinese shipbuilder has laid off about 40% of its workforce in recent months, in a sign that China Inc. is under increasing strain from the slowdown in the world's No. 2 economy. Lei Dong, secretary to the president of China Rongsheng ...

Boyu Capital Avoids China's 'Princeling' Curse
More often than not, private equity funds set up by the sons and daughters of top Chinese government officials, also known as “princelings,” have been met with a barrage of criticism for being unprofessional and investing money willy-nilly into deals ...

Growth of China's Service Sector Slows
The latest less-than-encouraging news from China's economy: Service-sector companies are seeing lackluster business, according to two separate surveys released July 3. That follows disappointing news showing China's manufacturing growth is also ...

China probes British drugmaker GSK: report
SHANGHAI | Thu Jul 4, 2013 1:45am EDT. SHANGHAI (Reuters) - China's top economic planning agency has opened an investigation into pharmaceutical giant GlaxoSmithKline Plc's operations in China, an official newspaper reported on Thursday, ...

REFILE-China textile mills lobby to boost cotton imports, cut local prices
Thu Jul 4, 2013 4:57am EDT. (Corrects dateline). * China mills want to import more cotton. * Say cotton in state reserves is poor quality, expensive. * But traders sceptical govt will allow bigger quotas. * Mills also want lower prices for sales from ...

China's First Aircraft Carrier Advances With Jet Take-Off Drills
China conducted flight take-offs and landings on its Liaoning aircraft carrier over nearly a month of exercises, the first such drills on the vessel as the country modernizes its military arsenal and extends its reach at sea. The Liaoning returned to ...


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