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China News 09/2013



China Anti-Graft Agency Probes State Assets Chief Jiang
Jiang Jiemin, a former PetroChina Co. (857) chairman who oversees the country's biggest state-owned enterprises, is being investigated by the Communist Party anti-corruption watchdog, the official Xinhua News Agency reported. Jiang, 57, director of the ...

Silver Lining in China's Smog as It Puts Focus on Emissions
HONG KONG — Jiang Kejun may be one of the few Beijing residents who see a ray of hope in the smog engulfing the city. A researcher in a state energy institute, he is an outspoken advocate of swiftly cutting China's greenhouse gas output, and he says ...

China Minzhong Denies Short Seller's Allegations of Financial Impropriety
SINGAPORE--China Minzhong Food Corp. (K2N.SG), the latest Singapore-traded target of short sellers, Sunday denied allegations of impropriety and said that a damaging report by Glaucus Research Group was aimed at benefiting from a fall in its share ...

Shanghai Cites Pipe in Deadly Ammonia Accident at Warehouse (1)
Pipe leakage at a frozen-seafood plant was responsible for an ammonia leak that killed 15 people yesterday, the Shanghai government said following an initial probe into the accident. The city's worst accident in almost three years also injured 25 ...

China Pres Urges Military To Expand, Strengthen
As China becomes a superpower, so with it comes the need for a stronger military. President Xi Jinping told the Navy this weekend that he wants his military to train harder, strengthen their defense capabilities and protect the country's “sovereignty ...

Joanna Shelton: What Bo Xilai trial indicates about China's growth prospects
Chinese public and political attention has been focused on the latest scandal to hit the Chinese Communist Party, with allegations of murder, extortion, adultery and other crimes worthy of a good crime novel or blockbuster movie. Bo Xilai, formerly a ...

China Factory Gauge Jumps to 16-Month High in Recovery Sign (3)
China's top solar-panel makers are returning to profitability following two years of losses as higher demand and prices drive up margins. Photographer: Qilai Shen/Bloomberg. A Chinese manufacturing index rose to its highest level in 16 months in August ...

Alpine Sees Property Rally Extending on Growth: China Overnight
Chinese property stocks traded in New York, the best-performing industry group last month, will keep rising on prospects policy makers will take steps to boost growth in the real-estate sector. “We are seeing a softening of the approach of policy to ...

China Probes State-Assets Director as Anti-Graft Campaign Widens
Former PetroChina Co. Chairman Jiang Jiemin, pictured, is the highest-profile official investigated since Chinese President Xi Jinping took over the ruling party in November, vowing to crack down on graft which he said threatened its six-decade hold on ...

China Economy Strengthens as Factory Gauge at 16-Month High
China's economy is strengthening after a two-quarter slowdown, with a manufacturing gauge rising to a 16-month high in August as new orders jumped and overseas demand rebounded. The Purchasing Managers' Index was at 51.0, the National Bureau of ...

Most Chinese Stocks Rise After Manufacturing Growth Accelerates
Most Chinese stocks rose after an official report showed manufacturing strengthened last month. Machinery companies rallied, while Kweichow Moutai Co. plunged the most in seven years after reporting slowing profit growth. Zoomlion Heavy Industry ...

Indofood swoops in to buy embattled China Minzhong for $382 million
By Anshuman Daga and Eveline Danubrata. SINGAPORE | Mon Sep 2, 2013 5:23am EDT. SINGAPORE (Reuters) - Indonesia's Indofood, one of the world's biggest instant noodle makers, has launched a takeover offer for China Minzhong that values the food ...

China manufacturers lead Asia in shaky factory recovery
By Koh Gui Qing. BEIJING | Mon Sep 2, 2013 2:31pm IST. BEIJING (Reuters) - China's factories had their best growth in months in August as domestic demand made up for weak exports, though lacklustre performances from other regional manufacturers ...

Beijing issues new measures aimed at curbing air pollution
BEIJING, Sept 2 | Mon Sep 2, 2013 3:16pm IST. BEIJING, Sept 2 (Reuters) - Beijing unveiled yet another slew of measures on Monday to curb a choking pollution problem, including limiting the number of new vehicles on the roads and closing or upgrading ...

Economists React: China Looks Set for Good Numbers in August
The first data on China's economic performance in August suggest that the run of positive numbers from July is set to continue. The official manufacturing purchasing managers' index rose to a 16-month high of 51 in August, from 50.3 a month before ...

Factory Data From China Is Bright Spot in Asia
BEIJING—China's factory sector showed signs of stronger growth Monday, while weak economic data from a number of other Asian nations underscored the impact of a recent selloff in emerging-market assets. Enlarge Image. image. Close. image. Agence ...

Manila: China Set Impossible Conditions for Visit
Philippine President Benigno Aquino III canceled a trip to a Chinese trade fair after Beijing demanded that he first withdraw a legal complaint over disputed territories in the South China Sea, Filipino officials said Monday. Chinese Foreign Minister ...

China Minzhong investor defends stake by launching takeover bid
Indonesia's largest noodle maker, Indofood, has gone on the offensive in Singapore against short sellers who questioned the accounts of a Chinese food company in which it holds a one-third stake. Indofood took a leaf out of the playbook of sovereign ...

Solar Defaults Shock Holders as $8.4 Billion Due: China Credit
LDK Solar Co.'s delay in paying debt and Suntech Power Holdings Co.'s attempts to renegotiate obligations are prompting investors to gird for losses as $8.4 billion in renewable energy bonds come due by the end of 2014. The 2014 securities of LDK slid ...

Copper Rally Loses Steam as China Demand Falters
SHANGHAI—A monthlong rally in copper tied to China's improving economy is running out of steam as prices slip and signs rack up that Chinese manufacturers, the world's biggest buyers, are cutting back on demand. Copper surged about 7.8% in the first ...

Bribery by GSK China was coordinated at company level: Xinhua
SHANGHAI | Tue Sep 3, 2013 7:35am EDT. SHANGHAI (Reuters) - A Chinese police investigation into drugmaker GlaxoSmithKline has discovered that alleged bribery of doctors in China was coordinated by the British company and was not the work of ...

Manila Accuses China of Building on Disputed Reef
The Philippines says it has spotted dozens of concrete blocks it believes may be the beginning of a Chinese construction project on a disputed group of reefs in the South China Sea. Manila's Defense Ministry on Tuesday unveiled aerial photos of the 30 ...

China's top restaurants reeling over new austerity
BEIJING The shark's fin, bird's nest and abalone are gone from the offerings at Beijing's Xiang E Qing restaurant -- a favorite of Communist Party cadres just months ago. Diners are now left with less exotic fare such as shredded beef, pickled turnip ...

China Sacks State Enterprise Official
BEIJING — Chinese authorities have fired a high-ranking economic official in what appears to be part of a widening of the country's crackdown on corruption. Political analysts said the firing of Jiang Jiemin, who used to head up an official body that ...

Minter: Don't Trust a Chicken Nugget That's Visited China
Chinese chickens waiting to be sold in Shanghai. Do we want them turned into nuggets and shipped to the U.S.? Photographer: Kevin Lee/Bloomberg. Would you willingly eat a chicken nuggets processed in a country that has no intention of meeting U.S. ...

Xi Says China's Slower Economic Growth Is Result of Adjustment
Chinese President Xi Jinping said China's slower economic growth this year was a conscious choice by the government to allow it to adjust the nation's economic structure. China would “rather bring down the growth rate to a certain extent in order to ...

China August data to show economy finding its feet
By Aileen Wang and Jonathan Standing. BEIJING | Wed Sep 4, 2013 3:23am EDT. BEIJING (Reuters) - China looks to have prevented a sharp slowdown in its economy, data for August due next week should confirm, after the government stepped in with ...

China's ex-security chief helping probe, not target-sources
By Benjamin Kang Lim and Ben Blanchard. BEIJING, Sept 4 | Wed Sep 4, 2013 5:19am EDT. BEIJING, Sept 4 (Reuters) - China's former domestic security chief Zhou Yongkang, one of the country's most powerful politicians of the last decade, is helping ...

China police say aunt likely gouged out boy's eyes, then killed herself
BEIJING – Chinese authorities said Wednesday that they suspect that the woman who gouged out a 6-year-old boy's eyes was his aunt who later killed herself, adding a surprising twist to a gruesome case with conflicting details. The attack on the boy ...

China calls for regional cooperation over Fed quantitative easing tapering
BEIJING | Wed Sep 4, 2013 4:40pm IST. BEIJING (Reuters) - China and its Asian neighbors should strengthen financial ties to head off risks stemming from any U.S. tapering of its stimulus programme, China's deputy central bank governor, Yi Gang, said on ...


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