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DC5m United States china in english 48 articles, created at 2016-12-16 11:10 articles set mostly positive rate 1.2
1 1.3 China aircraft carrier group conducts first live-fire drills (5.42/6) China's Liaoning aircraft carrier battle group has conducted its first exercises with live ammunition, the country's navy said, in a show of strength as tens... 2016-12-16 02:11 3KB www.dailymail.co.uk
2 2.2 Beijing admits it has installed weapons on islands in the South China Sea (2.06/6) Chinese officials acknowledged they have placed weapons on contested islands in the South China Sea, which contradicts a pledge not to militarize them. 2016-12-16 03:00 3KB www.upi.com
3 0.0 Cathay Dragon to replace 23 Airbus narrowbody jets SHANGHAI, Dec 16 (Reuters) - Cathay Dragon, the sister airline of Hong Kong's Cathay Pacific, on Friday said it intends to replace its existing narrowbody fl... (2.06/6) 2016-12-16 01:37 1KB www.dailymail.co.uk
4 4.5 No country is exempt from one-China principle, says Beijing (2.06/6) Foreign minister Wang Yi tells French counterpart the principle is basis for ties with Beijing 2016-12-16 00:31 2KB www.scmp.com
5 1.0 Facebook Announces Chinese Style Censorship In US (1.14/6) New guidelines will allow establishment media to silence opposition New guidelines will allow establishment media to silence opposition 2016-12-15 18:08 1004Bytes www.infowars.com
6 2.9 Trump Considering Pro-Trade Governor For
(1.08/6) Agriculture Secretary Idaho Gov. Butch Otter, the most recent addition to the list of President-elect Donald Trump's potential secretary of agriculture choices, just returned from a trade mission to China in November. O 2016-12-15 18:17 3KB dailycaller.com
7 0.6 China cedes top US creditor crown to Japan as yuan struggles (1.05/6) Japan has dethroned China to be the top holder of U. S. government debt, as the Chinese central bank dipped into its currency reserves to support the yuan. 2016-12-15 19:34 6KB www.cnbc.com 8 3.4 Colorado To Kill Some Mountain Lions, Bears To Boost Mule Deer Numbers : The Two-Way : NPR (1.03/6) The state plans to kill up to 15 mountain lions and 25 black bears beginning in the spring. Some biologists worry the plan ignores the threats of habitat destruction and energy development. 2016-12-15 20:43 3KB www.npr.org
9 0.8 As Trump riles China, Taiwan tallies defence costs By J. R. Wu TAIPEI, Dec 16 (Reuters) - Before getting too carried away with Taiwan's elevated status under a Donald Trump presidency, President Tsai Ing-wen m... (1.02/6) 2016-12-16 02:27 5KB www.dailymail.co.uk
10 3.6 China treasury yields ease after calming c.bank liquidity injection
(1.02/6) BEIJING, Dec 16 (Reuters) - China's central bank made a larger than expected liquidity injection on Friday morning, helping push treasury yields down after i... 2016-12-16 02:27 3KB www.dailymail.co.uk
11 0.7 Australian Police: Suspected Drug Smuggling Ship Intercepted A commercial ship police say that was used in a suspected drug smuggling operation was intercepted off Australia and its crew are expected to be taken into custody, (1.02/6) officials said Friday. The 10 crew members are believed to be Chinese nationals, Australian Border Force regional commander... 2016-12-16 02:22 1KB abcnews.go.com
12 0.0 UBS slashing nearly two dozen jobs in Asia in cost- cutting push -sources
(1.02/6) By Sumeet Chatterjee and Fiona Lau HONG KONG, Dec 16 (Reuters) - UBS Group AG is cutting nearly two dozen jobs in its Asian investment banking business, main... 2016-12-16 00:34 3KB www.dailymail.co.uk
13 4.3 Ex-nurse Megan Haines sentenced to 36 years in jail for murder by insulin overdose (1.02/6) Former nurse Megan Haines has been jailed for 36 years for murdering two residents at Ballina's St Andrews Village aged-care facility by injecting them with lethal doses of insulin. 2016-12-16 00:09 2KB www.dailymail.co.uk
14 4.6 Chinese who first glimpsed American culture through Alan Thicke mourn his death
(1.02/6) A certain generation of Chinese remember Hollywood actor Alan Thicke as the man who taught them about psychiatrists and shoulder pads. 2016-12-15 21:10 4KB www.latimes.com 15 1.0 Iraq boosts oil sales to China, U. S., India before OPEC supply cuts bite - sources (1.00/6) By Florence Tan and Chen Aizhu SINGAPORE/BEIJING, Dec 16 (Reuters) - Iraq is selling more crude oil to its biggest customer, China's Unipec, people familiar... 2016-12-16 02:36 3KB www.dailymail.co.uk
16 0.0 China, Hong Kong stocks stabilise after sell-off SHANGHAI, Dec 16 (Reuters) - China stocks edged up on Friday, stabilising after the previous session's sell-off in the wake of tighter U. S. monetary policy, ... (1.00/6) 2016-12-16 01:34 3KB www.dailymail.co.uk
17 4.3 Hu Jintao Fast Facts Check out CNN's Hu Jintao Fast Facts for a look at the life of the former president of (0.12/6) the People's Republic of China. 2016-12-15 21:24 4KB rss.cnn.com
18 1.6 Chinese leaders set 2017 economy plans amid trade pressure Chinese leaders are meeting to set economic goals for 2017 amid pressure from U. S. President-elect Donald Trump and European governments over trade and market access. 2016-12-16 03:15 3KB www.thenewstribune.com
19 2.8 The milk gambit: Australian udder to Chinese glass in three days: Russell By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) - How much would you pay to ensure your milk was fresh and safe? A Chinese businessman is betting th... 2016-12-16 02:03 5KB www.dailymail.co.uk
20 3.6 The ‘selfie firm’ value $4.6bn Chinese start-up Meitu is best known for an app that helps people beautify their selfies. Whether it is to remove pimples, tweak their face shape or alter 2016-12-16 00:00 1KB headlinenewstoday.net
21 1.5 Chinese media outlet calls for 'use of force' over Taiwan Contact WND (CNBC) Why Trump’s foreign policy is on a collision course in the South China Sea A Chinese newspaper is calling on the country to consider force as a means to conquer Taiwan, following an apparent shift in U. S. policy. The Global Times,... 2016-12-16 02:01 1KB www.wnd.com
22 4.3 Finnish woman, Chinese man’s holiday ‘romance’ captures internet users’ imagination Spotlight cast on cross-cultural pair after woman visits Chengdu hometown of her new friend following chance meeting in the Middle East 2016-12-16 01:34 2KB www.scmp.com 23 0.0 China wants 23 northern cities put on red alert for smog BEIJING, Dec 16 (Reuters) - Environmental authorities in China have advised 23 northern cities to issue red alerts, the highest possible air pollution warnin... 2016-12-16 01:34 3KB www.dailymail.co.uk
24 0.6 US Congress will face grave consequences if Iran nuke deal is cancelled: White House The US Congress will have to deal with "grave" consequences if it blows up the Iran nuclear deal as such a move would make it difficult for America to convince countries like India, China and Japan to enforce sanctions against Tehran, the White House has warned. ... 2016-12-16 01:14 972Bytes article.wn.com
25 2.8 China police confirm detention of human rights lawyer Jiang Tianyong China police confirm detention of human rights lawyer Jiang Tianyong The activist’s family are still waiting to hear from him despite officials saying he was released more than two weeks ago 2016-12-16 01:12 3KB www.theguardian.com
26 1.9 Natalie Portman dresses her baby bump in floor length gown at Huading Awards The 35-year-old actress, who is currently on the campaign trail to promote her new biographical film Jackie, looked glamorous in her gorgeous floor-length gown at the Chinese awards show. 2016-12-16 01:08 2KB www.dailymail.co.uk
27 1.2 Top Hong Kong judges dismiss murderer’s landmark appeal, disagreeing with UK Supreme Court ruling Case revolved around British court’s overturning of three-decade-old legal principle of joint enterprise 2016-12-16 00:45 3KB www.scmp.com
28 2.5 China: 'Political' blue sky comes at a price China's temporary fixes to create clean air during high-profile and politically sensitive events are making smog worse in the long term, an academic study has found. 2016-12-15 23:56 3KB www.cnn.com
29 3.6 Can A Chinese Brand Thrive In The High-End Headphone Market? FIIL was founded in March 2015 and I joined the team in July that year. We spent half the year developing the first-generation product 2016-12-15 23:45 7KB www.valuewalk.com 30 2.5 Teenage entrepreneur, 15, plans to turn Christmas holidays into a $100,000 opportunity with pop-up toy shop business A 15-year-old boy from Toowoomba in Queensland is set to turn his Christmas holidays into $100k. Will Deeth imports toys from China and sells them in a pop-up store over December. 2016-12-15 23:44 2KB www.dailymail.co.uk
31 3.3 Regina Ip pledges to defend academic freedom and allow discussion of Hong Kong independence in schools Contender for city’s top job also promises to support local athletes over mainland Chinese sportsmen 2016-12-15 23:30 3KB www.scmp.com
32 0.6 Jailed treasure hunter is STILL refusing to reveal secret location of 500 missing gold coins he recovered from 1857 shipwreck - and he's been kept behind bars and fined $1,000 a DAY since last December for not talking Tommy Thompson has been held in contempt of court since last December, when Judge Algenon Marbley in Columbus found he violated a plea deal by refusing to respond. 2016-12-15 23:29 2KB www.dailymail.co.uk
33 0.0 China yuan weakness prompts support measures China Friday set the CNY mid-point rate at the lowest level in 8-1/2 years on heavy capital outflows and a hawkish Fed. 2016-12-15 23:08 3KB www.cnbc.com
34 0.5 Muddy Waters Calls Huishan A Near Zero Muddy Waters is Short China Huishan Dairy Holdings Co Ltd (6863:HK) Part 1 We are short China Huishan Dairy Holdings (6863 HK / “Huishan”) because we believe it is worth close to Zero. We conclude Huishan is a fraud. … 2016-12-15 23:05 6KB www.valuewalk.com
35 2.2 Gunter rolls past Boling 43-7 to win 3A-II in 1st title game Colson Stovall rushed for 180 yards and four touchdowns and Gunter rolled in its first state final appearance, beating Boling 43-7 for the Class 3A Division II championship Thursday night. 2016-12-15 23:00 1KB www.charlotteobserver.com
36 1.2 China Credit Stimulus Pushing Steel Demand Until 1st Half 2017 China's credit stimulus program is having a different impact in infrastructure than real estate, a Goldman Sachs research piece notes 2016-12-15 22:15 3KB www.valuewalk.com 37 2.6 Dr Doom Marc Faber: Trump trade war will hurt US more than China If Trump’s rhetoric ends up fueling a trade war with China, the U. S. will take it on the chin, said Marc Faber, the publisher of the Gloom, Boom & Doom report. 2016-12-15 21:55 4KB www.cnbc.com
38 2.2 In run for top job, Regina Ip seeks balance between pleasing Beijing and Hongkongers New People’s Party chairwoman wants harmonisation of relationship between city and mainland China in wake of growing tensions 2016-12-15 21:29 4KB www.scmp.com
39 2.2 Canadian beauty queen confronts China The Chinese-born Anastasia Lin is a practicer of Falun Gong, a religion outlawed in China. 2016-12-15 21:11 2KB www.pressherald.com
40 0.0 The Eagle Huntress is a documentary that soars The Eagle Huntress is a documentary narrated and executive-produced by Daisy Ridley about a Kazakh girl in remote Mongolia who yearns to do what only men have done in her tribe. 2016-12-15 21:09 1KB www.dailymail.co.uk
41 5.6 Ecuador sends troops to Chinese copper exploration project after protest By Alexandra Valencia QUITO, Dec 15 (Reuters) - Ecuador sent soldiers and police on Thursday to an isolated jungle area after a policeman was killed and seve... 2016-12-15 21:08 2KB www.dailymail.co.uk
42 3.3 China says justice ministry official probed for suspected graft BEIJING, Dec 16 (Reuters) - A senior official at China's justice ministry is under investigation for suspected graft, the ruling Communist Party's anti-corru... 2016-12-15 20:43 1KB www.dailymail.co.uk
43 3.2 Tuk tuk driver accused of raping Australian tourist in Thailand Tuk tuk driver Ekburut Ritrakkhaphan, 32, is accused of raping an Australian tourist in Thailand after police saw CCTV, but denies the charges claiming the sex was consensual. 2016-12-15 20:23 1KB www.dailymail.co.uk
44 2.3 Business News Roundup, Dec. 16 European officials flipped the switch Thursday on a satellite navigation system meant to rival the U. S.-made GPS service that’s become a staple feature of smartphones and cars worldwide. The Galileo system — named after the Italian engineer and astronomer — is designed to provide commercial... 2016-12-15 20:20 5KB www.sfgate.com 45 2.1 Chinese imperial seal from 18th century sells for record $22mn — RT Viral A Chinese imperial seal from the 18th century has sold for a whopping $22 million at an auction in Paris. 2016-12-15 19:24 1KB www.rt.com
46 0.0 Cesc Fabregas could be next Chelsea player to head for China as Guangzhou Evergrande eye £40m summer move Cesc Fabregas could follow Oscar out of Chelsea in a mega-money move to China in the summer. The 29-year-old midfielder is the subject of interest from Guangzhou Evergrande. 2016-12-15 18:30 2KB www.dailymail.co.uk
47 1.2 BULLSH**TER OF THE DAY: Sean Spicer, for the most opaque view yet on presidential transparency The Trump apologist understands everything about conflicts of interest except conflicts. And interests 2016-12-15 18:24 1KB www.salon.com
48 3.3 ‘The Great Wall’ Review Matt Damon doesn’t save China in this capably directed but generic fantasy spectacle extolling Chinese culture and military excellence. 2016-12-15 18:00 1KB variety.com Articles
DC5m United States china in english 48 articles, created at 2016-12-16 11:10
1 /48 1.3 China aircraft carrier group conducts first live-fire drills
(5.42/6) China's Liaoning aircraft carrier battle group has conducted its first exercises with live ammunition, the country's navy said, in a show of strength as tensions with the US and Taiwan escalate. China's first and only aircraft carrier led large-scale exercises in the Bohai Sea, the People's Liberation Army Navy said late Thursday in a statement on their website. The drills involved dozens of ships and aircraft in the carrier group and saw more than 10 air-to-air, anti-ship, and air defence missiles being tested, it said. The group also performed reconnaissance exercises, tests of early-warning systems, aerial interception, and missile defence. The goal of the exercises was to "test the performance of weapons and the training level of the team", the statement said. China's national broadcaster CCTV showed footage of J-15 fighter jets taking off from the carrier and firing missiles. The drills come as a heated war of words intensifies between Beijing and US President-elect Donald Trump, who broke convention by speaking directly to Taiwanese president Tsai Ing-wen and even suggested Washington could jettison Washington's decades- old "One China policy". The "One China policy" is a diplomatic compromise allowing the US to do business with both China and Taiwan while only recognising Beijing. Since Trump's and Tsai's phone call, China has sent military aircraft close to Japanese territory near the Miyako Strait and reportedly sent a bomber to circumnavigate disputed territory in the resource-rich South China Sea, flights its air force has described as "routine". The US Pacific commander said Wednesday that the US will keep challenging China's "assertive, aggressive behaviour in the South China Sea", despite Beijing's rapid development of artificial islands capable of hosting military planes. Satellite images published this week by a US think tank showed structures on Chinese-built artificial islands that appeared to be large anti-aircraft guns and close-in weapons systems (CIWS) designed to take out incoming missiles and enemy aircraft, the think tank said. China's defence ministry said on a verified social media account that the construction was mostly for civilian use, and that necessary military installations were for self-defence. "If someone were flexing his muscles outside your door, wouldn't you get a slingshot ready? ", it wrote. Beijing is seeking to build a "blue water" navy capable of operating in distant seas and has embarked on an extensive project to modernise its two million-strong military, the world's largest. The Liaoning is a secondhand Soviet ship built more than 25 years ago. It was commissioned in 2012 after extensive refits. In December 2015, China's defence ministry announced the country was building a second aircraft carrier based entirely on domestic designs. China live-fires aircraft China's 1st aircraft carrier China holds first live-fire China’s Liaoning aircraft carrier group amid Taiwan carries out live-fire exercise drills with aircraft carrier, carrier conducts first live-fire tensions with US article.wn.com warships drill as Beijing shows off theguardian.com dailymail.co.uk military might scmp.com
China's 1st Aircraft Carrier China’s 1st aircraft carrier Carries out Live-Fire carries out live-fire exercise Exercise wtop.com abcnews.go.com
2016-12-16 02:11 Afp www.dailymail.co.uk
2 /48 2.2 Beijing admits it has installed weapons on islands in the South China Sea (2.06/6) BEIJING, Dec. 15 (UPI) -- Although China has told the Obama administration it did not plan to militarize artificial islands in the South China Sea it has constructed, officials in Beijing have confirmed what appeared to be weapons in satellite images released earlier this week.
Chinese officials said in response to a U. S. think tank releasing images showing military construction and hardware on the islands in the South China Sea that they are there for defense only and that the islands will mostly be used for civilians.
Chinese President Xi Jinping pledged not militarize islands in the contested South China Sea, including the artificial ones it has built by expanding already existing reefs, and the Chinese Defense Ministry insists the construction does not change his pledge because the weapons are defensive.
"On the issue of reef building, the Chinese side has repeatedly expressed its stance that the construction is mainly for civil purposes," China's Defense Ministry said in a statement. "As for the necessary military facilities, mainly for defense and self-defense, is legitimate. For example, someone in your doorway swagger, do not you can not prepare a slingshot it? " The South China Sea is hotly contested partially because China claims much of it, however the waterway is surrounded by other countries, including the Philippines, which also have their own claims. The sea, however, is also an important trade route carrying about $5 trillion of goods to countries around the world.
The images revealing military developments on artificial islands were released by the Asia Maritime Transparency Initiative, a project at The Center for Strategic and International Studies, show several octogonal shapes on the edges of the islands, around other construction.
U. S. military officials told The Wall Street Journal that China has been adding weapons to the islands for months, with three of them gaining weapons just since August. They say the weapons have limited ranges of a mile or two and could not hit a U. S. naval ship because they travel farther from the coast than that -- suggesting the weapons are truly defense.
The concern is if the Chinese add more weapons or military installations, which may allow them to assert more dominance over the hotly contested waterway. The weapons, described by officials as modular, could easily be swapped out for bigger surface-to-air missiles that may actually pose a threat to ships in the South China Sea.
"It appears China is intent on transforming these features into operational bases that will allow its military to project power and assert control of one of the most vital international waterways," said Arizona Sen. John McCain. "This is unacceptable. "
China suggests it has US report says China adds placed weapons on disputed weapons to South China Spratly islands Sea islands post-gazette.com foxnews.com
2016-12-16 03:00 Stephen Feller www.upi.com
3 /48 0.0 Cathay Dragon to replace 23 Airbus narrowbody jets
(2.06/6) SHANGHAI, Dec 16 (Reuters) - Cathay Dragon, the sister airline of Hong Kong's Cathay Pacific, on Friday said it intends to replace its existing narrowbody fleet of 23 Airbus Group planes as part of a modernisation plan. The airline said it had issued a request-for-proposal to upgrade its 15 A320 and eight A321 planes and expected the first of these new aircraft to arrive by 2019. It did not say whether it was looking at Boeing Co or Airbus models. "The process will allow us to explore the full range of products and options of various size and range that can complement the airline's fleet development needs," it said in an e-mailed statement. The former Dragonair was rebranded as Cathay Dragon in November and the replacement plans come as its parent company grapples with weak passenger traffic figures that recently forced it to issue a profit warning. Cathay Dragon's total fleet comprises of 42 planes, including 19 A330 jets. The South China Morning Post first reported the purchase plan on Friday. (Reporting by Brenda Goh; Editing by Stephen Coates) Cathay Dragon Airline Is Hong Kong’s Cathay Dragon Planning to Replace Nearly plans HK$20b aircraft Half Its Fleet replacement programme fortune.com scmp.com
2016-12-16 01:37 Reuters www.dailymail.co.uk
4 /48 4.5 No country is exempt from one-China principle, says Beijing (2.06/6) The one-China principle is the basis for developing ties with Beijing and no country can be an exception to this rule, China’s Foreign Minister Wang Yi told his French counterpart. US president-elect Donald Trump has upset China by speaking with Tsai Ing-wen, the president of self-ruled Taiwan, which China claims as its own, and casting doubt on Washington’s nearly four-decade policy of recognising that Taiwan is part of “one China”. Speaking with France’s Foreign Minister Jean-Marc Ayrault, Wang said the Taiwan issue concerned China’s sovereignty and territorial integrity, China’s Foreign Ministry reported late on Thursday. “The one-China principle is the prerequisite and basis for other countries to develop their relations with China and that when it comes to this vital issue of right or wrong, no country can be an exception,” the statement cited Wang as saying. Wang said he appreciated Ayrault’s clear stance on the “one China” issue. Beijing regards Taiwan as a renegade province and has never renounced the use of force to bring it under its control. China considers Taiwan independence a red line issue. Ayrault was quoted by the Xinhua news agency as saying that the relations between China and France were based on mutual trust and mutual benefit and that the one- China principle was related to international and regional peace and stability, to which France attached great importance and would continue to play a positive role on the matter. The two sides also exchanged views on deepening cooperation in the field of nuclear energy, Xinhua reported. China says no country can China says no country can be exception to ‘one China’ be exception to "one China" principle principle article.wn.com dailymail.co.uk
2016-12-16 00:31 Reuters Reuters www.scmp.com
5 /48 1.0 Facebook Announces Chinese Style Censorship In US
(1.14/6) Alex Jones breaks down Facebook’s dangerous new program that allows members of the establishment media to censor any narrative they oppose on the platform.
Snopes, who’s main political “fact checker” is a self-described liberal who equated Tea Party conservatives with jihadists, is one of the websites now in control of picking what news is real or fake on Facebook.
Others include The Washington Post, which recently had to retract a story that falsely labeled countless media outfits as Kremlin propaganda.
Facebook announces strategy to tackle fake news foxnews.com
2016-12-15 18:08 Infowars.com - www.infowars.com
6 /48 2.9 Trump Considering Pro-Trade Governor For Agriculture Secretary (1.08/6) Idaho Gov. Butch Otter, the most recent addition to the list of President-elect Donald Trump’s potential secretary of agriculture choices, just returned from a trade mission to China in November. Otter’s staff confirmed that the Republican governor and former U. S. congressman is being vetted by Trump’s transition team, the News-Times reported Wednesday. Trump’s focus on making good trade deals may be why he’s considering Otter. Idaho business leaders praised Otter’s most recent trip to China as a positive move to improve the state’s trade relationship with the country.
“Personal relationships are an essential part of doing business in the Chinese market,” Otter said when he returned in mid-November. “We identified some excellent opportunities, and I look forward to seeing their future successes.”
Otter has also led multiple trade missions during his time as governor, taking Idaho business owners to Vietnam, South Korea, and Taiwan.
Trade is incredibly important to agriculture, as “roughly a third of agriculture produced [in the U. S.] is destined for export, at least at the macro level,” Dale Moore, director of policy at the American Farm Bureau Federation, told The Daily Caller News Foundation. “It’s a pretty big deal.”
Trump’s stated opposition to the Trans-Pacific Partnership, a proposed deal intended to open up trade between the U. S. and 11 other countries with major ports in the Pacific Ocean, has caused some concern among farm policy groups. They argue that if the U. S. does not take advantage of opportunities to sell to countries like Vietnam, Malaysia and Singapore, China would gain those relationships.
“There’s a concern that without [the TPP], China could step into that breach and take over that platform,” Moore said. “There’s a lot more that we were gaining than we were losing” in the proposed trade deal.
Otter has been elected to three terms and has served as governor since 2006. He was a U. S. representative for Idaho from 2001 to 2007, and before that was lieutenant governor of his state from 1987 to 2001.
Like the search for other cabinet secretaries, media have reported numerous top picks for agriculture secretary over the past few weeks. Democrat Sen. Heidi Heitkamp is said to be a potential pick for the post, though Trump’s agriculture advisors have balked at the idea of nominating a Democrat.
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Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected]. Trump: Obama’s press Spicer lead candidate for secretary ‘a foolish guy’ Trump press secretary thehill.com thehill.com
2016-12-15 18:17 Thomas Phippen dailycaller.com
7 /48 0.6 China cedes top US creditor crown to Japan as yuan struggles (1.05/6) China has been dethroned by Japan as the top holder of U. S. government debt as the Chinese central bank has dipped into its foreign exchange reserves to support the yuan, while its Japanese counterpart has been content to allow the yen to weaken.
Investors are paying close attention to declines in China's holding of U. S. Treasuries as any sharp sell-off could add further upward pressure to U. S. interest rates, which in turn can undermine the Chinese currency.
Figures for foreign ownership of U. S. Treasuries in October released late Thursday in Washington confirmed the shift, with China's stock of U. S. federal debt plunging to the lowest in more than six years.
On Wednesday, the U. S. Federal Reserve raised interest rates and signaled a faster pace of rate increases in 2017 , sending yields on shorter-dated Treasuries to their highest levels in more than five years.
U. S. President-elect Donald Trump 's attacks on Beijing over its trade and currency policies, as well as his questioning of the stance of current and past U. S. administrations concerning Taiwan , has triggered fears that China could decide to sell U. S. Treasuries in response.
However, Chinese government policy advisers, who declined to be identified because of the sensitivity of the subject, say they believe that's highly unlikely.
An official at the news department of the People's Bank of China, the nation's central bank, declined to comment.
In October, China's holdings of U. S. Treasuries fell by $41.3 billion to $1.115 trillion, according to data from the U. S. Treasury Department. It marked the fifth straight monthly drop and brought the total China has sold off over the previous 12 months to $139.2 billion, the third-largest annual decline ever.
The more important figures will be for November and December, which will not be released until some weeks into next year. They will show what happened after Trump won the U. S. presidential election on Nov. 8,, and investors sold off Treasuries in anticipation of rising U. S. economic growth and larger U. S. government budget deficits, as Trump plans to cut taxes and borrow to fund new infrastructure spending.
China's reduction of its holdings of Treasuries in the autumn may well have helped it avoid some hefty losses.
Treasuries prices have slumped since the election, and investors have faced a negative total return of 3.3 percent in that time, according to the Bank of America/Merrill Lynch U. S. Treasury Index. Losses have been particularly steep in longer-dated paper, with the 10-year note falling 5.7 percent and 30-year bond losing 10.3 percent, both on a total return basis.
Japan's move into the top spot came as it also cut its U. S. Treasuries stake, although by a far- smaller amount, about $4.5 billion, to $1.132 trillion in October. Its holdings have fallen by about $17.3 billion from the previous October.
Japan's holdings eclipsed China's for just one month in February 2015, the first time since the 2008-2009 global financial crisis.
"China has been selling dollars to keep the yuan steady while Japan is very happy to let the yen depreciate," said Chester Liaw, an economist at Forecast Singapore.
Economists say they expect China to continue to reduce its holdings of U. S. government debt, considered as the most liquid dollar assets, to help defend the yuan, but a big sell-off looks unlikely.
The yuan fell to its weakest level against the U. S. dollar in more than eight years on Thursday, after the Federal Reserve's rate rise and outlook.
"China has been consciously cutting its holdings of U. S. Treasuries, to defend the yuan, and it's hard to stop this trend," said Zhou Hao, Singapore-based economist with Commerzbank.
China's foreign exchange reserves, still the world's largest, have fallen by $942 billion from a peak hit in June 2014, to a six-year low of $3.052 trillion in November, a drop of 24 percent. Meanwhile, China has reduced its U. S. Treasury holdings by $111 billion between June 2014 and September this year, a drop of 9.0 percent.
The PBOC is likely to spend more of its reserves to support the yuan, although it's walking on a tightrope, seeking to slow the yuan's descent while trying to preserve the reserves by reducing capital outflows through tighter controls.
Some traders believe the $3 trillion mark is a key psychological level for the PBOC, but it risks rapidly churning through its remaining stockpile of reserves if the U. S. dollar keeps climbing and Beijing has to fight to steady the yuan.
Some Chinese government economists have put the minimum prudent level of reserves at somewhere between $1.62 trillion to $2 trillion. One central bank adviser said earlier this month that China should use its foreign reserves to help maintain market confidence in the yuan, as expectations of further depreciation have led the exchange rate to weaken too far against the U. S dollar.
But government policy advisers do not believe that dumping U. S. Treasuries is among policy options to be considered by top leaders, even if China wants to retaliate against the United States. That will, of course, also depend on whether Trump carries through on his threats to declare China a currency manipulator, impose punitive tariffs on Chinese imports into the U. S., and whether he abandons the 'One China' policy.
Liquidating a big chunk of U. S. debt holdings could roil financial markets and force the United States to scramble for funds, but analysts believe such a move by Beijing would risk starting a fire sale in which the value of its own portfolio would burn.
There are few alternatives to U. S. government bonds, with their negligible risk of default and positive yields.
"This (dumping U. S. debt) is a bad idea. It will not be among retaliatory measures to be considered by the government," said one Chinese government policy adviser.
China cedes top U.S. Japan tops China as world's creditor crown to Japan as largest holder of U.S. yuan struggles Treasuries -data dailymail.co.uk dailymail.co.uk
2016-12-15 19:34 CNBC www.cnbc.com
8 /48 3.4 Colorado To Kill Some Mountain Lions, Bears To Boost Mule Deer Numbers : The Two-Way : NPR (1.03/6) Rebecca Hersher
A group of mule deer in Colorado in 2008.
Nathan Bilow/ASSOCIATED PRESS
hide caption
A group of mule deer in Colorado in 2008.
The Colorado Parks and Wildlife Commission has approved a plan to kill some mountain lions and black bears. It's part of a plan the commission hopes will decrease the number of predators to help boost the state's mule deer population.
Under the plan , state wildlife crews will capture and kill up to 15 mountain lions and 25 black bears each year in the Piceance Basin of northwest Colorado. beginning in the spring of 2017.
The state said it would also pay $435,000 per year for a nine-year study of the "effects of mountain lion population density on mule deer populations. "
The Fort Collins Coloradoan reported the total cost of the wildlife population management plan will be $4.5 million.
The state estimates more than 400,000 mule deer live in Colorado, which the Parks and Wildlife Commission says is about 80 percent of the target population.
Colorado allows people to hunt mule deer each year if they obtain a permit from the state. The required licenses cost $34 for Colorado residents, and more than $300 for hunters from out-of- state.
Last year , about 34,000 mule deer were legally killed by hunters in Colorado according to the Parks and Wildlife Commission.
On its website, the commission said its motivation was not to sell more licenses to hunt deer. "Revenues were not a factor in determining where and how to proceed," it says on a page titled " Predator Management Q & A. "
Colorado State University wildlife biologists told the Denver Post earlier this week they believe the plan contradicts the state commission's own science:
" 'We find it surprising that [Colorado Parks and Wildlife's] own research clearly indicates that the most likely limiting factors for mule deer are food limitation, habitat loss and human-induced disturbance – not predators,' [Colorado State University] biologists Joel Berger, Kevin Crooks and Barry Noon wrote in a Saturday letter to CPW commissioners.
"The biologists point to vast deer habitat in Colorado that has been fragmented by roads, damaged by oil and gas drilling and rendered inhospitable for wildlife by other development.
" 'We do not understand why compelling scientific findings based on research conducted in Colorado by CPW researchers is not being used to better inform management actions to benefit mule deer,' they wrote. 'This seems both illogical and a waste of public funds. The scientific consensus is clear and compelling – predator control is a costly and ineffective management tool to increase mule deer populations.' "
On its website, the Parks and Wildlife Commission refuted the biologists' claims, writing, "Ongoing research in the Piceance Basin suggests predation rather than other factors (habitat, energy development) is most likely limiting this population. "
"Habitat is a primary focus in other areas where habitat may be more limiting than the two areas where the influence of predation is being examined," it continued.
Colorado's Mule Deer Story from Colorado Parks & Wildlife on Vimeo . SEE IT: Mountain lion kills deer on California couple's porch feeds.nydailynews.com
2016-12-15 20:43 Rebecca Hersher www.npr.org
9 /48 0.8 As Trump riles China, Taiwan tallies defence costs
(1.02/6) By J. R. Wu TAIPEI, Dec 16 (Reuters) - Before getting too carried away with Taiwan's elevated status under a Donald Trump presidency, President Tsai Ing-wen might want to check her bank balance. Trump's suggestion that the "one China" principle - that Taiwan is a part of China - was up for negotiation has already prompted sabre-rattling from Chinese state media and some in the military establishment. Taipei's ability to mitigate any military action by China will be severely limited by its weak economy and a tiny domestic arms industry that will take years to build up. And even if the United States - Taiwan's sole arms supplier - agrees to sell the advanced weaponry the island needs to deter a Chinese attack, Taipei will struggle to pay the bill, government advisers and experts say. "The trend in defence spending is a 'slow rise'," said Chieh Chung, a long-time defence expert and researcher with the National Policy Foundation in Taipei, a think tank. "There isn't a lot of flexibility in government finances. " The ability of Taiwan to defend itself, and the willingness of the United States to help it, have been brought into sharp relief since President-elect Trump accepted an unprecedented phone call from President Tsai early this month. Tsai has never conceded the "one China" principle and Beijing has never renounced the use of force to take back what it deems a wayward province, particularly if Taiwan makes moves toward independence. Despite that threat, Taiwan has spent less than 2 percent of its half-a-trillion dollar economy on its defence needs in recent years, leaving it woefully unable to match a free- spending China militarily. U. S.-based think tank the Rand Corporation said in a research report last year the United States would find it far more challenging to come to Taiwan's aid in the event of an attack now compared to two decades ago, due to rapid advances in Chinese capabilities. In 1996, only two U. S. air wings would have been need to achieve air superiority at the outset of a conflict, but by 2017 that rises to 30, the report said. ARMS SALES Selling arms might be more palatable, and there is certainly a need. Two of Taiwan's four submarines date to World War Two, while the two other Dutch-built boats have been in service for nearly 30 years. But Chieh estimates submarines would cost Taiwan more than $2 billion each, requiring a special budget fundraising via government bonds - a more expensive prospect in a rising interest rate environment. Any arms sale would also risk provoking Beijing. Retired Major- General Luo Yuan, a widely read Chinese military figure, told Hong Kong's Phoenix Television on Monday that Taiwan buying U. S. arms could be considered a hostile act. "If you want to buy one set of anti-missile systems from the United States, then we'll set up four in response on the other side of the Taiwan Strait, so that you will know pain, that you can't buy security, and that what you're actually buying is danger," he said. INDIGENOUS DEFENCE INDUSTRY Buying big-ticket items like subs would also be a tough sell at home because Tsai has made developing an indigenous defence industry a key policy plank to create jobs and pump up the sluggish economy, currently growing at less than 2 percent. Taiwan has previously developed its own missiles and also manufactured over 100 of its own fighter jets in the 1990s before the programme withered. The navy has just begun programmes to build a few small warships, and next on Taiwan's list are submarines and advanced jet trainers. But critics say it will take years to build a battle-ready fleet, costs would likely be higher than buying second-hand equipment and there is almost no export market to sustain programmes for Taiwanese defence goods. Taiwan's reliance on the United States is therefore key. "Beijing knows that we have obligations to help Taiwan defend itself and resist coercion, as enshrined in the Taiwan Relations Act, and that we make decisions about our defence relationship with Taiwan based on the threat that China poses," said Daniel Blumenthal, director of Asian Studies at the American Enterprise Institute, and a former U. S. defence official. Trump's campaign rhetoric, however, indicated he may be less likely to go to war over someone else's defence while recent comments suggest Taiwan may be a pawn in his trade negotiations with China. Madeleine Bordallo, a member of the U. S. House of Representatives Armed Services Committee, says throwing China a "curve ball" will make Beijing think twice about issues such as Taiwan. Bordallo backed a defence bill supporting senior military exchanges between the United States and Taiwan that was approved by Congress this month. "I believe that different types of engagement with Taiwan offer us a way to throw that curve ball in the coming years," she told an audience at a security conference in Taipei this week. "Further engagement with Taiwan is important to achieving the strategic goal. " ($1 = 31.9830 Taiwan dollars) (Additional reporting by Ben Blanchard in BEIJING; Editing by Lincoln Feast)
Why the 'One China' Policy Works bloomberg.com
2016-12-16 02:27 Reuters www.dailymail.co.uk
10 /48 3.6 China treasury yields ease after calming c.bank liquidity injection (1.02/6) BEIJING, Dec 16 (Reuters) - China's central bank made a larger than expected liquidity injection on Friday morning, helping push treasury yields down after interbank markets tightened following the U. S. Federal Reserve's rate hike on Thursday. The People's Bank of China (PBOC) lent 394 billion yuan ($56.72 billion) via its medium-term lending facility (MLF) on Friday with rates unchanged at 2.85 percent for six-month loans and 3.0 percent for one-year loans. The injection came amid signs of stress in the interbank market, with the overnight Shanghai Interbank Offered Rate (SHIBOR) set at 2.33 percent on Friday morning, the highest in 19 months. "The market was in panic after plunges in the treasury futures and other rumors, but it stabilised soon after central bank support through MLF loans," said a trader at a Chinese bank in Shanghai. Following the injection, midday yields on the ten-year treasury came down 0.68 percentage points from the market open to 3.32 percent. During the past month, the central bank had increased the cost of capital through open market operations in what analysts said was an effort to tamp down speculation. And the strain on liquidity in China's financial markets became more acute following the Fed rate hike. China's benchmark 10-year treasury futures tumbled the maximum allowed 2 percent on Thursday, the biggest single-day fall on record. In early trade Friday, the price of 10-year treasury futures had recovered 0.7 percent. After draining 535 billion yuan last week, the PBOC injected a net 250 billion yuan into the banking system this week via open market operations, according to Reuters calculations. And, to counter the market's illiquidity, China's securities regulator instructed some bond market makers to continue trading, two sources with direct knowledge of the matter told Reuters on Friday. China's central bank urged major commercial banks to lend to non-bank financial institutions on Thursday afternoon after many suspended interbank operations due to tight liquidity conditions, Caixin reported on late on Thursday. The PBOC intervened to help institutions such as securities firms and fund managers after banks, including the big four state- owned banks, became reluctant to make loans, the financial magazine said, citing traders and institutional sources. ($1 = 6.9460 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk, Winni Zhou and Elias Glenn; Editing by Simon Cameron-Moore)
China bars banks from China c.bank presses banks China's yuan steadies from funding coal, steel "zombie to help with funds after 8-1/2-year lows, liquidity firms" interbank lending freezes- injection eases nerves dailymail.co.uk Caixin dailymail.co.uk dailymail.co.uk
2016-12-16 02:27 Reuters www.dailymail.co.uk
11 /48 0.7 Australian Police: Suspected Drug Smuggling Ship Intercepted (1.02/6) A commercial ship police say that was used in a suspected drug smuggling operation was intercepted off Australia and its crew are expected to be taken into custody, officials said Friday.
The 10 crew members are believed to be Chinese nationals, Australian Border Force regional commander James Watson told reporters in the island state of Tasmania.
On Monday, Australian officials intercepted the 50-meter (160-foot) former research vessel in international waters off Tasmania, Watson said. The boat was then brought to the state capital, Hobart, and was being searched on Friday.
Officials found a "significant quantity" of illegal drugs on board, Watson said. He declined to specify what type of drugs were found and said it was too early to know exactly how much was on board the boat. Australian police: Suspected drug smuggling ship intercepted thenewstribune.com
2016-12-16 02:22 By abcnews.go.com
12 /48 0.0 UBS slashing nearly two dozen jobs in Asia in cost- cutting push -sources (1.02/6) By Sumeet Chatterjee and Fiona Lau HONG KONG, Dec 16 (Reuters) - UBS Group AG is cutting nearly two dozen jobs in its Asian investment banking business, mainly in Hong Kong and Singapore, as part of a push to slash costs, people with direct knowledge of the matter said. The Swiss bank joins rivals in making investment banking cost cuts in Asia as deal volume remains sluggish. The latest round of job cuts at UBS will be mostly mid-level staff but will also include a few managing directors, said the people, declining to be identified due to the sensitivity of the issue. Wall Street banks are grappling with a harsh environment in Asia as the region's economies and markets have failed to deliver sustained growth after the 2008 financial crisis. The banks' business has also been eroded by local competitors, notably aggressive Chinese firms. One of the sources said UBS's cuts could involve as many as 20 bankers. UBS has about 550 investment bankers in Asia including China, a source said. A spokesman for UBS in Hong Kong declined to comment. Equity activity in Asia ex-Japan stock exchanges slumped 30 percent in the first nine months of 2016 with $140.7 billion worth of deals, weighed down by a steep decline in follow-on share offerings, Thomson Reuters data showed. And, after leading the equity capital market (ECM) league table in Asia for several years, UBS fell to fourth place in the first nine-months of the year from second in the same period a year earlier, the data showed. UBS co-head of equity capital markets (ECM) for Asia, Damien Brosnan, will leave the Swiss investment bank at the end of the month, Thomson Reuters publication IFR reported on Thursday. Barclays, Goldman Sachs and Standard Chartered are among Western banks that have reduced their investment banking headcounts this year in Asia. Reuters reported last month that Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount across all the major business centres starting with Singapore and Hong Kong, as the bank steps up an aggressive drive to cut costs. In October, UBS maintained its gloomy outlook amid negative interest rates in Switzerland and economic uncertainty which has kept many investors on the sidelines. (Fiona Lau is a reporter for IFR; Additional reporting by Julie Zhu and Elzio Baretto in HONG KONG; Editing by Saeed Azhar and Muralikumar Anantharaman) UBS Is Said to Be Slashing Nearly Two Dozen Jobs in Asia fortune.com
2016-12-16 00:34 Reuters www.dailymail.co.uk
13 /48 4.3 Ex-nurse Megan Haines sentenced to 36 years in jail for murder by insulin overdose (1.02/6) A former nurse has been jailed for at least 27 years for murdering two residents at a northern NSW aged-care facility by injecting them with lethal doses of insulin. Megan Haines, 49, was found to have murdered Marie Darragh, 82, and Isabella Spencer, 77, in May 2014 at Ballina's St Andrews Village, after learning they had made complaints about her. In the NSW Supreme Court on Friday, Justice Peter Garling described the murders as 'particularly serious', noting the vulnerability of the victims and the registered nurse's significant breach of trust. Scroll down for video During the two-and-a-half week murder trial, the court heard that Haines had boasted about knowing how to kill a person while she watched an episode of CSI with her ex-boyfriend in 2009. 'It's easy - inject them with insulin,' she allegedly said. 'Because the body continues to metabolise insulin, so it looks like natural causes.' Haines had previously been suspended after complaints about her in Victoria and had only recently started work at Ballina while she was subject to reporting conditions. The judge said Ms Darragh had complained about Haines refusing to give her a cream to soothe an itch, while Ms Spencer said she had refused to help her reach the toilet. Hours after learning of the complaints, Haines went into the medication room between midnight and 1am, removed two syringes, drew up two injections of insulin, and administered them to the women, probably as they slept. In jailing her for a maximum of 36 years, the judge described her offences as 'deliberate and calculating', and a flagrant abuse of her power. Outside court, Ms Spencer's brother Donald said he was 'over the moon' about the sentence. 'I knew I would lose my sister sooner or later, but not in those circumstances,' he said. Nurse Who Murdered 2 Elderly Australians Jailed for 36 Years abcnews.go.com
2016-12-16 00:09 Australian Associated www.dailymail.co.uk
14 /48 4.6 Chinese who first glimpsed American culture through Alan Thicke mourn his death (1.02/6) A certain generation of Chinese remember Hollywood actor Alan Thicke as the man who taught them about psychiatrists and shoulder pads.
His sudden death this week saddened many across the nation who first encountered America through the celebrity and his persona as a befuddled, loving father.
“Growing Pains,” the three-decade- old family sitcom starring Thicke, gave millions of Chinese their initial taste of American culture as the country emerged from decades of isolation and began to engage with the world.
The series aired in China for four years starting in 1990, one of the first U. S. TV-shows dubbed in Chinese and available to a wide audience. Countless young Americans watched Thicke’s Jason Seaver, a psychiatrist and stay-at-home dad, debate bad grades and teenage relationships with his children. But it resonated differently in a newly opened China, a reminder even today of U. S. entertainment’s global influence.
“It was all very exotic to me,” said Li Jinglin, 37, a Beijing office clerk who watched the show every week with her parents. Her father liked to view it in silence and banned anyone from crunching on sunflower seeds. Afterward, she and her dad would mimic lines from the show about cleaning the house.
“I learned how different the U. S. was then,” Li said, “but I also learned how similar Americans were to us.”
Viewers couldn’t believe young couples openly dated or that a family would raise three — and later, four — children. (China for decades forbade families from having more than one child, a policy the government relaxed last year.) But the show also conveyed a universality that made the United States appear a little less foreign.
“People at that time expected stories on TV shows to be staged,” said Li Xun, a research fellow at the China Film Art Research Center. “Although this show was from the other side of the world, ordinary Chinese people could relate to it.”
Chinese parents handled child-rearing differently, he said, but it still reinforced “what happened to them could happen to us.”
State media announced Thicke’s death Tuesday at age 69 on social media accounts, and received a deluge of responses. “Can’t stop crying,” one person said. Another wrote, “Dad has passed away.”
The actor, originally from Canada, suffered a heart attack while playing ice hockey with one of his sons, Carter, in Burbank. His loss hit a nerve in a country that has shifted its adoration to Korean soap operas and Japanese anime.
“Those stories of the Seaver family are my childhood’s best memories,” someone wrote on Weibo, China’s version of Twitter. “My sincere condolences to Uncle Jason.”
The series became a lesson in fashion and relationships. Girls started wearing pink hairbands. Family members questioned whether they interacted enough with each other.
“I have to say this show has changed my values,” said one person on Zhihu, a question-and- answer site. “The home on the show is what I believe a home should be.”
The real-life characters may not have lived up to that ideal. But for many Chinese who viewed Thicke’s death with a touch of nostalgia, that wasn’t the point.
“I just realized how much has changed in my life,” said Zhang Weiwei, 40, an accountant in Beijing who can still recite the show’s theme song. “That was one of the happiest moments when I was a child.”
The first place officials look to assess the drought is the northern Sierra Nevada , Black Lives Matter is a case study in art as protest , in the corruption trial of retired Sheriff Lee Baca, a former Los Angeles Times reporter's testimony dealt a heavy blow, and you might want to leave the kids at home if you plan on going to see “Rouge One” this weekend .
Yahoo says more than a billion user accounts have been hacked. Dec. 15, 2016. (CBS Miami)
The Orbital ATK Pegasus XL rocket launched from the company's L-1011 Stargazer airplane at 8:37 a.m. EST, carrying the CYGNSS spacecraft for launch.
The Seau Foundation's 250 thousand dollar endowment to UCSD will aid in the study of traumatic brain injury and support a lecture series on the subject in Junior Seau's name.
More than 26 tons of cocaine seized in eastern Pacific
More than 26 tons of cocaine seized in eastern Pacific Alan Thicke's ex-wife Gloria reveals sons' heartache at father's sudden death dailymail.co.uk
2016-12-15 21:10 Jessica Meyers www.latimes.com
15 /48 1.0 Iraq boosts oil sales to China, U. S., India before OPEC supply cuts bite - sources (1.00/6) By Florence Tan and Chen Aizhu SINGAPORE/BEIJING, Dec 16 (Reuters) - Iraq is selling more crude oil to its biggest customer, China's Unipec, people familiar with the matter say, digging a deeper foothold in the global supply market just before production cuts agreed with OPEC and other producers are scheduled to kick in. With new deals with Indian and U. S. refiners also coming on stream, the expanded contract with the trading arm of Asia's largest refiner Sinopec means Baghdad will have to reduce supply to other clients to honour its commitment to cut output by 210,000 barrels per day (bpd) from 2017. Three people with knowledge of the matter said the Unipec contract was signed just before the Organization of the Petroleum Exporting Countries (OPEC), of which Iraq is a member, agreed with other producers led by Russia to cut output by as much as 1.8 million bpd in an effort to reduce a global fuel supply overhang and prop up prices. Speaking on condition of anonymity because they weren't authorised to speak to media, the people said Iraq's Oil Marketing Company (SOMO) has boosted Basra crude forward export sales to Unipec by 3 percent to a total of 40 million-60 million barrels each quarter - 435,000- 652,000 bpd - for 2017. "If Iraq increases its sales to China while others have to cut back or just hold their volumes steady, Iraq will inevitably gain market share in what is arguably the most important oil market," said a trader who specialises in sending crude to China but is not allowed to speak publicly. Iraq is OPEC's second-biggest producer behind Saudi Arabia and now ranks third among crude suppliers to China - after Russia and Saudi Arabia - having recorded a 15 percent year-on-year jump to about 723,000 bpd between January and October. As part of the expanded Chinese deal, one of the people said, Unipec is expected to load 2 million barrels of Basra Heavy crude every quarter. "Basra is now an established grade with stable quality and reliable supplies," said another trader, who buys Iraqi crude but isn't authorised to speak to the media. Unipec said it doesn't comment on specific deals. SOMO will also supply Basra Heavy crude under new term contracts to Exxon Mobil, Chevron Corp and Indian refiner Essar Oil for 2017, according to a person close to the matter and a preliminary January loading schedule for the oil. The contracts contribute to an expected jump in Basra exports to 3.53 million bpd in January 2017, the highest volume since June, the loading schedule showed. SOMO did not reply to an e-mail from Reuters seeking comment. Exxon and Chevron said they don't comment on operational matters, and Essar declined to comment. In India, crude imports from Iraq rose 24 percent in the first 10 months this year to 784,000 bpd, making Iraq the second-largest crude supplier after Saudi Arabia. Iraqi crude exports to the United States have more than doubled in the first nine months of 2016 from the same period a year ago to nearly 350,000 bpd as Venezuelan supplies declined, data from the Energy Information Administration showed. (Reporting by Florence Tan in SINGAPORE, Chen Aizhu in BEIJING and Rania El-Gamal in DUBAI; Additional reporting by Nidhi Verma and Sudarshan Varadhan in NEW DELHI; Editing by Henning Gloystein and Kenneth Maxwell)
China's $8.6 bln P2P fraud trial starts - Xinhua dailymail.co.uk
2016-12-16 02:36 Reuters www.dailymail.co.uk
16 /48 0.0 China, Hong Kong stocks stabilise after sell-off
(1.00/6) SHANGHAI, Dec 16 (Reuters) - China stocks edged up on Friday, stabilising after the previous session's sell-off in the wake of tighter U. S. monetary policy, with strength in small-cap shares lending support. The Hong Kong market also rebounded after hitting a four-month low the previous session. But gains were capped after the Federal Reserve's rate hike and hawkish policy signals on Thursday, potentially luring capital out of emerging markets. The blue-chip CSI300 index rose 0.1 percent, to 3,342.35 points by the midday break, while the Shanghai Composite Index was unchanged at 3,116.48 points. Blue chips in China are on track for their biggest weekly fall since January, down more than 4.3 percent so far this week, in part dragged by regulators' recent moves to curb insurers' stock investments. Hong Kong's Hang Seng index added 0.1 percent, to 22,076.96 points, while the Hong Kong China Enterprises Index gained 0.3 percent, to 9,502.91 points Hong Kong stocks, which are down around 3 percent this week, are set to post their biggest weekly fall in three months. Market reaction was muted towards possibly fresh measures from the insurance regulator. The Securities Times reported the regulator is considering lowering the percentage of equity assets allowed on insurers' balance sheets by 10 percent. In addition, the regulator issued warnings to 10 insurers after they failed to properly carry out self-inspections on their risk levels, the Securities Daily reported on Friday. Aggressive stake-building by mainland insurers has raised authorities' concern on possible financial risks. The markets got some support from small-caps. Shenzhen's start-up board ChiNext was up more than 1 percent, on signs that some foreign investors were buying small-caps after the index's recent weakness. Investors also found some solace from the bond market. China's 10-treasury futures rebounded nearly 1 percent at the lunch break after Thursday's panic sell-off in response to the Federal Reserves' policy tightening. In Hong Kong, the market was mixed, with gains in service and energy shares cancelled out by losses in telecommunication stocks. Shares in the city slumped 1.8 percent in the previous session after the Fed flagged more rate-path projections, and a strengthening dollar continued to put pressure on the market. The dollar index, which measures the greenback's strength against a basket of major currencies, stood at 103.050, after climbing to 103.560 overnight, the highest in nearly 14 years. (Reporting by Jackie Cai and John Ruwitch; Editing by Jacqueline Wong)
Regulator tells China bond market makers to keep trading despite liquidity crunch - sources dailymail.co.uk
2016-12-16 01:34 Reuters www.dailymail.co.uk
17 /48 (0.12/6) 4.3 Hu Jintao Fast Facts Personal: Birth date: December 21, 1942
Birth place: Jixi, Anhui Province, China
Birth name: Hu Jintao
Father: Hu Jingzhi, a merchant
Mother: Li Wenrui
Marriage: Liu Yongqing
Children: Hu Haifeng; Hu Haiqing
Education: Tsinghua University, 1964
Other Facts: Is the first Chinese leader to start his political career after the 1949 Communist revolution.
Timeline: 1964 - Joins the Communist Party of China (CPC).
1964-1965 - Postgraduate and political instructor at Tsinghua University in the Water Conservancy Engineering Department.
1965-1968 - Works in research and development (R&D) and as a political instructor at Tsinghua University in the Water Conservancy Engineering Department.
1968-1974 - Works for the Ministry of Water Conservancy, post-Cultural Revolution.
1974-1982 - Works for the Gansu Provincial Construction Committee in several positions, eventually becoming vice chairman.
1982-1985 - Works for the Secretariat of the Central Committee of the Communist Youth League of China, eventually becoming its leader.
1985-1988 - Rises to Secretary of the Guizhou Provincial Party Committee.
1987-1992 - Member of the 13th CPC Central Committee.
1988-1992 - Secretary of the Party Committee of Tibet Autonomous Region.
1989 - Uses the Chinese military to stamp out Tibetan protests against China's rule.
1992-1997 - Member of the 14th CPC Central Committee, the Politburo and the Standing Committee.
1993-2002 - President CPC, Central Committee's Central Party School.
1997-2002 - Member of the 15th CPC Central Committee, the Politburo, the Standing Committee and later the Secretariat. Also becomes vice chairman of the 15th CPC Central Committee and the Central Military Commission.
1998-2003 - Vice president of the People's Republic of China.
1999-2002 - Vice chairman of the Central Military Commission of the PRC.
2002 - Becomes a member of the 16th CPC Central Committee, the Politburo and the Standing Committee. Later becomes General Secretary of the 16th CPC Central Committee.
2002-2004 - Vice chairman 16th CPC Central Committee and Central Military Commission.
2002-2005 - Vice chairman of the Central Military Commission of the PRC.
November 2002 - Succeeds Jiang Zemin as General Secretary of the Chinese Communist Party.
March 15, 2003 - Elected president of the People's Republic of China.
September 19, 2004 - Chairman of the 16th CPC Central Committee and the Central Military Commission.
March 13, 2005 - Chairman of the Central Military Commission of the PRC.
April 2006 - Makes first state visit to the United States; meets with President George W. Bush to discuss trade and North Korea.
January 30-February 10, 2007- Makes an eight-nation tour through Africa. During the trip, Hu negotiates more than $1 billion of trade deals, loans, and debt cancellations with countries such as Liberia , Sudan and South Africa.
May 7, 2008 - Makes the first visit to Japan by a Chinese leader in 10 years.
November 18-19, 2008 - Hu makes a two-day visit to Cuba. He meets with former President Fidel Castro and promises that China will provide Cuba with $78 million in donations and credit. April 1, 2009 - Meets President Barack Obama for the first time during economic summit in London.
January 18-21, 2011 - Travels to the United States for a four-day visit. The visit includes a state dinner at the White House.
November 15, 2012 - Steps down as General Secretary of the CPC Central Committee and as Chairman of the Central Military Commission (CMC).
March 14, 2013 - Formally steps down as president of the People's Republic of China.
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18 /48 1.6 Chinese leaders set 2017 economy plans amid trade pressure Chinese leaders are meeting to set economic goals for 2017 amid pressure from U. S. President-elect Donald Trump and European governments over trade and market access.
The government of President Xi Jinping has promised to make the world's second-largest economy more competitive and productive by giving market forces a bigger role, but reform advocates complain Beijing is failing to reduce the dominance of state companies. Foreign companies say regulators are trying to squeeze them out of technology and other promising fields. The Economic Work Conference, attended by Xi and other Communist Party leaders, is a throwback to China's era of central planning but still plays a key role in directing economic development.
This year's gathering, which began Wednesday, comes as Beijing faces complaints it is hampering access to its markets and subsidizing exports in violation of its free-trade commitments.
Trump, who takes office Jan. 20, has vowed to press Beijing by imposing 45 percent tariffs on Chinese goods. Few economists expect Trump to go that far but any sanctions could hurt Chinese export industries that support millions of jobs.
For their part, European governments face complaints by steelworkers and others that a flood of low-cost Chinese exports is threatening their jobs.
European business leaders express frustration that Beijing blocks foreign purchases of most Chinese assets while its own companies are on a global buying spree to acquire technology and brands.
China's ruling party has emphasized its intention to tighten political control over major companies, which its trading partners say runs counter to pledges to promote competition. Official development plans call for Chinese companies to dominate fields including information technology, electric cars and other emerging industries.
"The world will listen whether the conference will send credible signals of further opening and reform," said Germany's ambassador to Beijing, Michael Clauss, in a statement on his embassy's website.
"The signals so far are mixed at best," said Clauss. "The keywords seem to be stability, security and unified thinking, not bold reform, equal competition and liberated thinking. "
Chinese economic growth held steady at 6.7 percent over a year earlier in the quarter ending in September, shored up by twin booms in credit and real estate sales. Forecasters expect growth to weaken as regulators tighten lending controls and try to cool housing costs.
Communist leaders insist they are comfortable with slower growth after the last decade's explosive double-digit expansion but face pressure to avoid a spike in job losses.
2016-12-16 03:15 By JOE www.thenewstribune.com
19 /48 2.8 The milk gambit: Australian udder to Chinese glass in three days: Russell By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) - How much would you pay to ensure your milk was fresh and safe? A Chinese businessman is betting the answer is that his countrymen will fork out up to 15 times what Australians pay for a litre of the dairy product. Lu Xianfeng paid A$280 million ($209 million) earlier this year to buy Van Dieman's Land Co (VDL), Australia's largest dairy, located on the windswept northwest coast of the southern island state of Tasmania. This was viewed as a top price for the 17,000 hectare property, but Lu, who built his fortune after founding sun-shade textile maker Ningbo Xianfeng New Material Co, had a bigger vision for the company beyond merely being a supplier of milk to local processors to make cheese and other dairy products. That vision became a little clearer on Nov. 25 when Lu's company announced plans to airfreight 50,000 litres of fresh milk a week from Tasmania's major city Hobart straight to Ningbo, the second-largest city in China's populous Zhejiang province. The initial plan is to use a Qantas Boeing 767 aircraft for the flights, slated to start in the first half of 2017. But Lu is hoping that this is just the beginning, with company officials saying the ultimate aim is for several flights a week using a bigger Boeing 747 freighter that will carry not only milk, but also other fresh Tasmanian products such as salmon and abalone. It's a bold vision and one that gives some practical impetus to the much talked about "mining to dining" boom, in which Australia ramps up its agricultural exports to China to at least partially compensate for the winding down of the boom in demand for minerals and energy that has driven the economy for the past 15 years. There are still a few regulatory hurdles to clear and a few practical limitations as well. Hobart airport still needs to extend its runway to accommodate larger planes such as 747s. But, by June Chinese consumers in Ningbo should be able to purchase fresh milk from a Chinese-owned dairy in Australia. THE PRICE OF FRESHNESS David Beca, the chief executive officer of VDL Farms, the dairy operating company, said it will be possible for milk to travel from the cow's udder in Tasmania to a glass in Ningbo within three days - comparable to the time it would take to reach an Australian supermarket shelf. The plan is for the milk to be trucked for about seven hours from VDL to a processing plant near Hobart, where it will be treated and packaged, and then placed on the aircraft for the 10 to 11 hour flight to China. Once there, subject to clearance by the Chinese authorities, the milk will be distributed to retail outlets. None of this will come cheaply for the Chinese consumers, with Beca estimating that the price per litre in Ningbo will be between A$10 and A$15 a litre. Milk in Tasmanian supermarkets currently sells for about A$1 (75 U. S. cents) a litre, meaning Chinese consumers are paying a hefty premium for a guarantee of quality and freshness. There is little doubt about the quality of the product, with the northwest tip of Tasmania enjoying the cleanest air in the world and a recent visit to VDL Farms showed lush pastures and healthy herds. However, for Lu's investment to make high returns the more wealthy Chinese middle class will have to be convinced that local dairy products are still of significantly inferior quality and safety to imported milk. Certainly, the Chinese dairy industry did itself no favours through scandals in recent years, including one in 2008 when as many as 300,000 people became ill and six infants died as a result of renal problems caused by drinking milk laced with melamine, added in a bid to boost apparent protein content. Certainly, the Chinese authorities are trying to boost the domestic industry, with Agriculture Minister Han Changfu telling a conference in August that 99.3 percent of domestic fresh milk and 99.5 percent of milk products had passed quality inspections in 2015. The main risk for Lu's company, now named VAN Dairy, is that Beijing backs up its desire to promote the local dairy industry by making it harder for imports to enter the country. But for now, dairy lovers in Ningbo can look forward to seeing if they can indeed taste the fresh air and the green grass of Tasmania in their milk, even they will have to pay handsomely for the privilege. (Editing by Richard Pullin)
2016-12-16 02:03 Reuters www.dailymail.co.uk
20 /48 3.6 The ‘selfie firm’ value $4.6bn Chinese start-up Meitu is best famous for an app that helps people “beautify” their selfies.
Whether it is to mislay pimples, tweak their face figure or change their skin tone, some-more than 450 million people use a app each month – especially teenagers and immature adults, primarily female.
And notwithstanding struggling anticipating a approach to make income from a app, Meitu has only listed on a Hong Kong batch exchange, lifting $629m – that gives it a gratefulness of $4.6bn. That creates it a biggest IPO by a record organisation in a city in roughly a decade.
Produced by Helier Cheung
2016-12-16 00:00 admin headlinenewstoday.net
21 /48 1.5 Chinese media outlet calls for 'use of force' over Taiwan Contact WND (CNBC) Why Trump’s foreign policy is on a collision course in the South China Sea
A Chinese newspaper is calling on the country to consider force as a means to conquer Taiwan, following an apparent shift in U. S. policy.
The Global Times, considered a provocative mouthpiece for Beijing, penned an editorial column on Wednesday which suggested it was time China took a less passive approach.
“It might be time for the Chinese mainland to reformulate its Taiwan policy, make the use of force as a main option and carefully prepare for it,” it read.
2016-12-16 02:01 www.wnd.com
22 /48 4.3 Finnish woman, Chinese man’s holiday ‘romance’ captures internet users’ imagination Following recent reports of the marriage of an American teacher and a Chinese farmer that went viral online, Chinese media have turned the spotlight on a budding relationship between a Chinese man and a Finnish woman. Zou Yifei, who works at a power supply company in the southwestern city of Chengdu, met a Finnish woman who grew up in Jerusalem, identified only by her first name Margaret, while he was visiting the Dead Sea in February, the reported. Zou showed Margaret photos he had taken of his home country on his camera, and explained to her what China was like. “I showed her where Chengdu was on a map,” Zou was quoted as saying. Margaret gave Zou a Bible as a gift and took him to a high-rise building to watch the sun set. She also invited him to a family gathering and showed him around nearby scenic spots during his stay, after which he invited her to visit his hometown of Chengdu. To Zou’s surprise, Margaret sent him a screenshot of her air ticket to China six months after they first met and told him she was going to stay in Chengdu for a month. Zou arranged a room for her to stay at his house in Chengdu and returned her hospitality by taking her to the city’s scenic sites. On the day of her departure, he presented her with a surprise present – a handmade wooden ring. However, when asked if they are in a romantic relationship, the pair said they would “go with the flow” and not push things. “Many people are wondering if we are together now, but to me, the feeling we have now is quite enough. Why do we have to be together or not?” Zou was quoted as saying. Their story was first shared by the company Zou works for on its official WeChat account, after which their friendship gained media attention and the tale went viral on the internet. Reports of farmers or other working-class people marrying foreigners are popular themes in Chinese media, as such intercultural marriages are seen as a novelty.
2016-12-16 01:34 Jane Li www.scmp.com
23 /48 0.0 China wants 23 northern cities put on red alert for smog BEIJING, Dec 16 (Reuters) - Environmental authorities in China have advised 23 northern cities to issue red alerts, the highest possible air pollution warning, on Friday evening, against the "worst" smog the country has experienced since autumn, state media said. China issued its first ever red alert for smog in Beijing, the capital, last December, after adopting a colour-graded warning system in a crackdown on environmental degradation left by decades of breakneck economic growth. Officials in Beijing issued a red alert on Thursday after the Ministry of Environmental Protection (MEP) warned of a smog build-up across China's north, saying the alert was expected to run until Dec 21. The ministry has also advised 22 more cities reeling under pollution to issue the red alert warning, the official China Daily said on Friday. Nine cities, including Jinan in the province of Shangdong were advised to issue the lower-status orange alert, Liu Bingjing, the ministry's head of air quality management, told the paper. The notification will be the third joint warning by city governments this month, Liu added. Regular episodes of smog blanketing northern China this year stem from a combination of local emissions, unfavourable weather and pollutants wafted in from elsewhere, Bai Qiuyong, head of China's Environmental Monitoring Center, told the paper. Environmental authorities in Hebei province, which borders capital city Beijing, asked for a level one emergency response from major cities in the region to begin from Friday, according to a post on its official Weibo account late on Thursday. The order requires the large number of heavy polluting industries in these cities, including in Tangshan, China's steel capital, to cut back or halt production until Wednesday. Red alerts are issued in Beijing when the air quality index, a measure of pollutants, is forecast to break 200 for more than four days in succession, surpass 300 for more than two days or overshoot 500 for at least 24 hours. At each level, the colour-graded warning system prescribes advisories for schools, hospitals and businesses, as well as possible curbs on traffic and construction. Thresholds for the issue of alerts vary among cities, as do the cautionary measures urged on local residents and businesses at each stage. Residents of smaller cities near Beijing have previously complained that local government bodies failed to issue warnings when pollution was just as severe as in the capital. (Reporting by Christian Shepherd; Editing by Clarence Fernandez)
2016-12-16 01:34 Reuters www.dailymail.co.uk
24 /48 0.6 US Congress will face grave consequences if Iran nuke deal is cancelled: White House The US Congress will have to deal with "grave" consequences if it blows up the Iran nuclear deal as such a move would make it difficult for America to convince countries like India, China and Japan to enforce sanctions against Tehran, the White House has warned. ...
2016-12-16 01:14 system article.wn.com
25 /48 2.8 China police confirm detention of human rights lawyer Jiang Tianyong China police confirm detention of human rights lawyer Jiang Tianyong Police in China have confirmed that a respected human rights attorney was detained, his lawyer said, nearly a month after he disappeared under mysterious circumstances amid a widening crackdown on lawyers and activists.
But despite a police claim that Jiang Tianyong has since been released, he has not contacted his family or lawyer, and they doubt claims made by officials. Jiang was last heard from as he prepared to board a train on the night of 21 November and friends and family worried he was held in secret custody because of his work defending Tibetan protesters, fellow human rights lawyers and Falun Gong practitioners.
The 45-year-old Christian lawyer has been detained on many occasions, with rights lawyers becoming increasingly targeted since the so-called “709 crackdown” - a police offensive against Chinese civil rights lawyers that began in July 2015.
Almost one and a half years after that “war on law” began, several of China’s most admired human rights lawyers, including the crusading attorneys Li Heping and Wang Quanzhang , remain behind bars.
Police in the central city of Changsha told Jiang’s lawyer that they detained him for nine days starting on 21 November, accusing him of using IDs belonging to someone else to buy train tickets. Police said he was then released, according to his lawyer Qin Chenshou.
“Jiang Tianyong was a highly experienced attorney, he would not do things that violate the law,” Qin said, adding he was “extremely doubtful” of what the police said.
Police refused to give Jiang’s father a written notice of his son’s detention, an unusual step usually reserved for political cases. Qin suspects Jiang is still being held by security forces but has no idea where.
Police searched two places in Beijing including his younger brother’s home, where Jiang sometimes stayed, and confiscated items, according to another friend who asked not to be named.
A panel of United Nations experts earlier this month called on the Chinese government to investigate Jiang’s situation, despite suspected involvement of the security forces.
“We fear that Jiang’s disappearance may be directly linked to his advocacy and he may be at risk of torture,” the UN panel said.
“We cannot rule out the possibility that Jiang may have been disappeared by the state agents because of his human rights work,” the experts added. “Over the past years, we have received information that Jiang has been arrested, detained, and beaten by the police and state security officers on multiple occasions as a result of his human rights work.”
Jiang’s disappearance and detention may be a reprisal for meeting with UN rights officials in August, according to Philip Alston, the UN special rapporteur on extreme poverty and human rights and a member of the expert panel.
When he first disappeared, Jiang’s wife said she feared for her husband’s safety.
“I am very worried about him. I am worried about his health. I am worried he might be tortured while in jail,” Jin Bianling said.
2016-12-16 01:12 Benjamin Haas www.theguardian.com
26 /48 26 /48 1.9 Natalie Portman dresses her baby bump in floor length gown at Huading Awards She is the epitome of style. And Natalie Portman put her best maternity fashion foot forward on Thursday night at China's Huading Awards in Los Angeles. The 35-year-old looked gorgeous in a glamorous floor length gown as she proudly displayed her baby bump at the event celebrating global film. The actress is currently on the campaign trail to promote her new biographical film Jackie. Portman just nabbed a nomination for Outstanding Performance by a Female Actor in a Leading Role for Jackie by the Screen Actors Guild Awards. The veteran actress offered one of the classiest responses as she thanked those she worked with. 'I am very grateful for the recognition of my peers with this morning’s SAG nomination,' she pregnant star started. 'I loved making JACKIE so much, in large part due to the incredible actors our great director Pablo Larrain assembled.' 'Greta Gerwig, Peter Sarsgaard, Billy Crudup, John Hurt, John Carroll Lynch, Richard Grant, just to name a few, brought such inventiveness and honesty to every moment,' she added. 'Pablo gave us so much freedom and inspiration to play. And that combination allowed us to show Jackie through the many different relationships she had, in many different lights.' It's the second time that the Huading Awards, created in 2007, have been held in Los Angeles. The award winners are voted for by Chinese audiences voting online through the Huading website and major third party platforms such as Sina.com, according to Variety . 'Los Angeles is where film culture originated from. So being here helps us to build the authority of the Huading Awards,' said awards founder Wang Haige. Hilary Swank also showed up for the event with her mom Judy as her date. She wore a full-length nude strapless gown with her hair up in a stylish chignon. The Boys Don't Cry and Million Dollar Baby Oscar winner added a matching clutch and a dark red pedicure. On hand, too, was Entourage's Jeremy Piven in a shiny black tuxedo with open-necked black shirt.
2016-12-16 01:08 Dailymail.com www.dailymail.co.uk
27 /48 1.2 Top Hong Kong judges dismiss murderer’s landmark appeal, disagreeing with UK Supreme Court ruling Hong Kong’s top court has rejected a landmark appeal that challenged the city’s five most senior judges to change the definition of murder and alter the city’s criminal law. The case centred on a ruling by the United Kingdom Supreme Court overturning the three-decade-old legal principle of joint enterprise – which allows someone to be convicted of murder even if they did not strike the fatal blow – and whether it applied in Hong Kong. At the centre of the Hong Kong case is Chan Kam-shing, who appealed against a life sentence for the 2014 murder of 18- year-old Kwok Ching during a triad gang attack. Chan was not at the scene of the crime, nor did he strike the fatal blow. A panel of five top court judges disagreed with the UK Supreme Court judgement for three reasons: 1) The justices believed the “joint criminal enterprise doctrine” did not overextend an accomplice’s liability. It accepted that a person who participated in a group crime, for example, “foreseeing” that a more serious offence such as murder might be committed, and who “with such foresight” remained in the group during the crime but did not carry out a criminal act “should be treated as gravely culpable and held liable as an accomplice”. 2) The Court of Final Appeal considered the abolition of the joint criminal enterprise doctrine to have left “a serious gap in the law of criminal complicity” for crimes committed by more than one person. 3) It also found the concept of “conditional intent” introduced in the UK Supreme Court decision caused “conceptual and practical difficulties” in cases where a group brought a weapon to a crime over whether the group had intent to use the weapon when a situation arose. Mr Justice Roberto Ribeiro said in a written judgment that Chan’s guilt was established with the law based on his obeying orders from his triad boss for him and his fellow group members to arm themselves with lethal weapons with the intent of “chopping” rival triad members. “By arming himself and participating in the predatory hunt for victims, he also acted as an accessory, encouraging the other members of the gang, including the eventual perpetrators, to commit the intended offence,” Justice Ribeiro said. In a unanimous decision, Chief Justice Geoffrey Ma Tao-li, Mr Justice Robert Tang Kwok-ching, Mr Justice Joseph Fok and Lord Justice Leonard Hoffmann agreed with the judgment to dismiss the appeal. Before the UK Supreme Court introduced a new ruling earlier this year, the law on joint enterprise was based on a 1985 Hong Kong case in which the UK’s Privy Council, which at that time was the city’s top court, ruled that only foresight was needed for an accomplice to be convicted of murder so long as he or she foresaw the fatal act might be committed by the principal attacker. The UK Supreme Court decided in February that the joint enterprise doctrine was the result of the law taking a “wrong turn” three decades ago and ruled it was wrong to treat “foresight” as a sufficient test.
2016-12-16 00:45 Danny Lee www.scmp.com
28 /48 2.5 China: 'Political' blue sky comes at a price For a three-year period, a team of researchers from Peking University and Fudan University sampled air quality in 189 cities before and after the annual showpiece meeting of China's parliament and top advisory body in March, known locally as the two sessions.
It's a time when local governments in China, especially in the smog-prone north, try to create clear skies by imposing temporary bans on heavy polluters, shutting factories and limiting the number of vehicles on the road.
The researchers found that pollution levels bounced back dramatically and levels were even worse than expected after the meetings had finished. The study was published in May in the journal China Industrial Economics but was largely ignored by China's state media. It has been widely discussed on social media in recent weeks as the winter typically brings heavier pollution.
Beijing has issued its first red alert for pollution this year, with severely high levels of smog expected in northern China for five days from 8 p.m. Friday.
"'The political blue sky' comes with the price of retaliatory pollution after political events," the study concluded.
While the research doesn't explore the cause of pollution rebound, ramping up production to compensate for economic losses during the ordered shut down is likely to blame, Guo Feng, one of the authors from Peking University, told CNN.
Could this smog-eating tower end pollution?
Welcome to China's most polluted city
'APEC blue'
In 2014, Internet users coined the wry term "APEC blue" for the capital's clear skies during the two-week gathering of world leaders during the APEC summit. The blue skies vanished once the leaders had left.
Last year, azure skies during the September military parade to commemorate the end of World War II got the nickname "parade blue" and earlier this year and in the lead-up to the G20 in Hangzhou this August, 225 factories were ordered to close and half the city's vehicles barred from roads.
Chinese designer turns sneakers into pollution masks
From December 2013 to March 2016, the researchers used the official air quality index (AQI) and measured concentrations of six pollutants including PM2.5 and PM10, the most dangerous kinds of particle.
The research showed an average 4.8% decrease in the fog and haze level measured by AQI, during the local "two sessions" and an 8.2% rebound after the meetings, when compared to average levels.
Beijing man photographs 3 years' worth of smog from his window
While the improvement in air quality during the National People's Congress (NPC) is noticeable, "it is nothing" compared to the 80% to 90% decrease in pollutants during international conferences such as APEC, Guo said.
"We focus on local 'two sessions' because the meeting is a wider practice across the nation. The sample is larger and more representative," he added.
Guo said he had contacted various Chinese media outlets about the research but none had showed any interest. While China has been taking steps to tackle pollution, it's still a politically sensitive topic.
2016-12-15 23:56 Serenitie Wang www.cnn.com
29 /48 3.6 Can A Chinese Brand Thrive In The High-End Headphone Market? Chinese manufacturing has come a long way. It is the country that puts together Apple’s iPhones, one of the world’s best- crafted smartphones. But the luster of high-quality manufacturing fades when it comes to Chinese brands. They might use the same manufacturers as foreign brands, but their adoption still lags that of established foreign names in the higher- end goods market.
Former Huawei executive Joe Peng is trying to change that with FIIL Headset , a maker of headphones that is aiming for the middle-to-higher end market for audiophiles now dominated by the likes of Apple’s Beats. He joins FIIL founder Wang Feng, a famous rock & roll star in Beijing. In this interview with [email protected] , Peng talks about the startup’s market positioning, sales channels strategies and hardware development plans. He believes that smart wireless headphones are the wave of the future.
An edited transcript of the conversation follows.
[email protected] : Let’s talk about FIIL. How did the company come about and what has it done since its founding?
Joe Peng: FIIL was founded in March 2015 and I joined the team in July that year. We spent half the year developing the first-generation product [of headphones] and launched the first series of products in October 2015. Then we launched two more series — FIIL Diva and FIIL Carat — this summer and fall. We are planning to have a sharing platform on product development and expect to launch two to three series of products each year when ready.
Our first-generation product has won Germany’s iF Product Design Award, the Red-Dot Design Award and [received] the HI-Res [Audio designation from the Japan Audio Society]. We have sold more than 100,000 units, the highest volume among Chinese brands for the high-end headset market. After a 30-million-yuan angel investment, we received an A-round VC investment of $20 million at the end of last year. We actually had higher expectations on sales as we are confident of the quality of the product and it has a 30% price advantage compared to foreign brands of the same quality. However, we underestimated the difficulty of communicating to consumers and failed to deliver the message of the product features. Many people feel rock star Wang Feng is just doing this for fun and our customers are currently restricted to music buffs and fans of Wang Feng.
“If we persist with the ‘smart and wireless’ direction, FIIL will be totally different from other brands.”
[email protected] : What challenges have you met in communicating the brand to the masses?
Peng: We positioned FIIL as a middle-of-the-road to high-end brand with our major product priced at 1,000 yuan. This assumed a target consumer with purchasing power looking for high quality audio. There may be five target consumers among 100 potential clients, but we haven’t found an effective way to reach precisely those people.
Compared to the well-established players in this segment, we are still searching for a clear brand position. [Our competitors fall into] two camps: Sennheiser, Audio Technica and Monster all have decades of history and they have gained a good reputation among music fans; Beats and some other brands have a great amount of cross-border cooperation with the sports and entertainment worlds and a great influence among young people.
To make a mark in the high-end market, you have to be able to get [a clear brand identity]. Our first-generation product has performed well in audio and design. It is comfortable to wear and has Bluetooth technology and more. However, we haven’t found a feature [that makes it] stand out. For example, the OPPO mobile phone has highlighted its exceptional battery life, Wanglaoji Herbal Tea is branded as a drink that “dispels pathogenic dryness.” … We haven’t [found] this kind of positioning yet.
[email protected] : What is the future development direction of your product?
Peng: Headset products are going wireless, becoming smarter and will be scenario-based in the future. The first two features — “smart and wireless” — will characterize our future direction.
In the past, good headsets were all wired. However, the current Bluetooth 4.1 can support very high quality audio, and our team is especially strong in Bluetooth technology. Our CTO, Wu Ning, comes from Plantronics (a U. S. headset company), which is well-known for its wireless communication [technology]. We provide good wireless quality within 100 meters with very low power consumption and standby time of more than 30 hours.
Meanwhile, the wireless headset is likely to be popular commercially. Our first FIIL wireless is priced at 1,599 yuan, 50% more expensive than wired products, but its sales are much better. Wireless products are much more convenient than wired, with many scenarios you can imagine. For example, you can walk around with it at home. Our product portfolio will gradually eliminate wired products.
As an audio player device, the headset has a history of more than 100 years, although its function has not changed substantially. The current technology is smarter, more interactive and more convenient. For example, when you are wearing a headset, someone comes to you to say hello. Can the music be stopped automatically and then restart automatically? This means it gets more humanized. I believe if we persist with the “smart and wireless” direction, FIIL will be totally different from other brands. [email protected] : Are you on track to launch new features? What else are you working on longer term?
Peng: The automatic off-and-on function has been realized. We had a lot of ideas which have not been actualized due to current technology restrictions or concerns about the integrated user experience, as some new functions might weaken the performance of others. For example, we found out that the headset can be independent and separate from the mobile phone but it will require an implanted 4G or Wi-Fi communication module. This will have some negative impacts – radiation as well as increased power consumption and weight.
“The headset has a history of more than 100 years, although its function has not changed substantially.”
Our product development process is quite interesting. We all brainstorm together and put forward some bold and unconstrained ideas. However, the R&D team is usually more conservative because they have to balance all demands from the angle of engineering feasibility.
[email protected] : Many players in the headset market have hundreds of years of history. How can a startup catch up with them?
Peng: In terms of key technology, the headset industry has seen no substantial improvement. That’s why a new team can have a late development advantage. Our R&D members all come from leading brands of high-end headsets. Most of them have more than eight years’ experience in design, communication technology, noise reduction and other key production processes.
We have also invested massive resources in R&D. The whole FIIL team is around 70 people with 40 in the hardware R&D unit and another 10 in Internet experience-related functions. In
2016-12-15 23:45 Knowledge Wharton www.valuewalk.com
30 /48 2.5 Teenage entrepreneur, 15, plans to turn Christmas holidays into a $100,000 opportunity with pop-up toy shop business A 15-year-old entrepreneur who has dedicated countless weekends and school holidays to success is set to make over 100k this Christmas period. Will Deeth from Toowoomba in Queensland has started his own importing business – bringing cool new toys from China to Australia – and selling them in his pop-up stores. The teenager should have $75,000 in the bank heading into the new year. His mother Lisa has supported his dreams and even traveled to China to help him pick out the toys for his stores. 'He is naturally business minded, since he was a young fellow he has been trying to work out how to make money,' Mrs Deeth said. The teenager is on track to owning his own home by April, according to his mother. 'All he wants to do is buy his first property, 'she said. 'That is what he has been working so hard for.' Mr Deeth had a pop up store last year and manage to make a few thousand dollars which he saved to re-invest in this year's stock. But because his dreams were so big he also took a loan of $20,000 from his parents so he could buy more stock to sell. 'Once you take away the $25,000 he started with the prophet will be around $75,000,' she said. 'We will be heading back to China again in April to buy more stock for his online store and pop-up businesses. 'Will has also given his 17-year-old sister a job.' Will's parents own an importing company of his own but the youngster has been wanting to start his own brand for years – so his mother finally gave in. 'I keep having to hold him back if anything, and let him know I still need to work as well,' she said. Mr Deeth will have 20 different items for sale in his store after spending a week trying out new toys in some of China's busiest factories.
2016-12-15 23:44 Belinda Cleary www.dailymail.co.uk
31 /48 3.3 Regina Ip pledges to defend academic freedom and allow discussion of Hong Kong independence in schools Chief executive contender Regina Ip Lau Suk-yee has pledged to defend academic freedom and to allow students to discuss Hong Kong independence in schools, in sharp contrast to the city’s current leader’s – a taboo one in Beijing’s eyes. Ip, a lawmaker and former security minister, also said she would express support for Hong Kong athletes even when they were competing against mainland sportsmen, something Chief Executive Leung Chun-ying was criticised for late last year. Ip launched on Thursday her campaign for the city’s top job and announced her intention to revive two of Hong Kong’s most contentious political issues –. Speaking on a Commercial Radio programme on Friday morning, Ip elaborated that since both goals were as difficult to achieve, they should be “handled together”. “Some scholars have said that national security legislation should be done after we have universal suffrage for the city’s leader ... so I think the two topics can be done together,” she said. “But I will defend academic freedom and freedom of speech. For example, Hong Kong independence should be discussed in schools. Students will benefit as long as you are presenting the pros and cons of the topic, and not subjectively promoting it,” Ip said. Retired judge Woo Kwok-hing, the only other contender to officially announce his bid so far, has also said. Leung earlier said there was no room for such talk on campus. A caller to the radio phone-in programme urged Ip to “stand up for Hongkongers and support the Hong Kong football team”. “Of course I support the Hong Kong team. If you go to a game overseas, everyone supports his or her own college or state team.” Ip’s potential rival Financial Secretary John Tsang Chun-wah has been , both in person and online. Ip on the other hand was ridiculed by internet users for proposing that Hong Kong should bid to host China’s 2021 National Games, when the rights had already been awarded to Shaanxi province. She apologised on Friday morning and clarified that the city could bid to host the 2025 games instead. Among the various policy solutions she outlined on Thursday, Ip said her priority was to boost land and housing supply if she became chief executive. Critics have said many of her policy ideas are similar to those held by the incumbent chief executive, who made a shocking announcement last week that he would not seek a second term. But Ip said: “Leung also inherited [his predecessor] Donald Tsang’s anti-poverty policies because good policies should be continued, but different leaders would have different styles.” Noting the shortage of big names at Ip’s announcement event on Thursday, political scientists warned that this might make it difficult for her to obtain Beijing’s backing. Ip countered: “We had retired senior civil servants, professionals and leaders from the religious, textile and garment, and agricultural and fisheries sectors there... We must not stick to the traditional thinking that it is only good to have lots of tycoons.”
2016-12-15 23:30 Tony Cheung www.scmp.com
32 /48 0.6 Jailed treasure hunter is STILL refusing to reveal secret location of 500 missing gold coins he recovered from 1857 shipwreck - and he's been kept behind bars and fined $1,000 a DAY since last December for not talking A federal judge on Monday ordered a former deep-sea treasure hunter to answer questions about the location of 500 missing gold coins. Tommy Thompson has been held in contempt of court since last December, when Judge Algenon Marbley in Columbus found he violated a plea deal by refusing to respond. Marbley on Monday told Thompson to answer the questions within 30 days. Thompson is being held in an Ohio jail cell until he reveals where the treasure is, the Washington Post reports. The judge's order came after Thompson and his attorneys spent the past month at Marbley's direction reviewing documents that might hold clues about the location of the coins and other assets worth millions. Thompson has said he told everything he knew during depositions last year. Todd Long, an attorney for Thompson, told Marbley on Monday that nothing has changed from Thompson's perspective. 'He has nothing further to say,' Long said. The coins were minted from gold taken from the S. Central America, a Gold Rush-era ship that sank off South Carolina in an 1857 hurricane with thousands of pounds of gold aboard, contributing to an economic panic. The 161 investors who paid Thompson $12.7 million to find the ship never saw any proceeds. Two sued — a now-deceased investment firm president and the company that once published The Columbus Dispatch newspaper. A fugitive from Ohio since 2012, Thompson was apprehended in January 2015 along with his longtime female companion at a hotel where he was living near Boca Raton, Florida. The time that's passed since Thompson's last deposition might give him an opportunity to answer the questions, Marbley suggested. 'Who knows — he might have an epiphany,' the judge said. 'It is the season of miracles.' Marbley has also ordered Thompson to pay $1,000 a day until he answers questions. Currently, he owes more than $350,000, said Doug Squires, an assistant U. S. attorney. Squires said he hopes the government will see the money. 'The federal government always works very hard to recover all assets,' he said.
2016-12-15 23:29 Associated Press www.dailymail.co.uk
33 /48 0.0 China yuan weakness prompts support measures The People's Bank of China Friday set the mid- point rate for the yuan at the lowest level in eight- and-a-half years as heavy capital outflows and a hawkish Federal Reserve raise currency pressures in the world's second-largest economy that the government says are manageable.
The yuan's mid-point was set at 6.9508 per dollar Friday, the lowest since May 2008, compared with 6.9289 on Thursday. China's central bank lets the yuan spot rate rise or fall a maximum of 2 percent against the dollar relative to the official fixing rate.
Haibin Zhu, China chief economist for JP Morgan, said a rally in the dollar following a Fed rate hike this week and a hawkish forecast of three increases in 2017 was the key reason for the yuan's depreciation alongside other currencies.
But China has moved in recent weeks to shore up its currency in the last few weeks on the back of gains in the greenback, including capital controls.
This week, the Chinese central bank has injected a net 250 billion yuan ($36 billion) for the week via open market operations, versus a net 535 yuan billion drain last week, according to Reuters.
The China Securities Journal said in a news report Friday that intervention in the foreign exchange market has been underway via big Chinese banks, which sold dollars and injected liquidity into the interbank market to support the yuan against the dollar on Thursday.
According to data from the U. S. Treasury Department, China's holdings of U. S. debt fell by $41.3 billion in October from a month ago to $1.115 trillion , the lowest since July 2010 as the PBOC dips into its reserves to support the currency. The sales led to Japan moving into the top spot as the largest holder of U. S. Treasurys , which China had held.
But Communist Party-run newspaper the People's Daily said in an editorial on Friday that there was "no need to worry too much" over whether the rate hikes would put further depreciation pressure on the yuan and increase capital outflows.
The days of "when the United States sneezes" the whole world catches a cold have drifted away. Liquidity in today's global markets is no longer all in U. S. dollars, the newspaper said.
"In the short term devaluation pressure on the yuan does exist, but in the long run, economic fundamentals decide the direction of the yuan exchange rate," it said.
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2016-12-15 23:08 CNBC with www.cnbc.com
34 /48 0.5 Muddy Waters Calls Huishan A Near Zero Muddy Waters is Short China Huishan Dairy Holdings Co Ltd (6863:HK)
Part 1
We are short China Huishan Dairy Holdings (6863 HK / “Huishan”) because we believe it is worth close to Zero. We conclude Huishan is a fraud. In this first report on Huishan, we detail the following conclusions and supporting facts.
Since at least 2014, the company has reported fraudulent profits largely based on the lie that it is substantially self-sufficient in producing alfalfa. We found overwhelming evidence that Huishan has long purchased substantial quantities of alfalfa from third parties, which gives us no doubt that Huishan’s financials are fraudulent.
We believe Huishan has engaged in CapEx fraud related to its cow farms. We estimate that Huishan has overstated the spending on these farms by RMB 893 million to RMB 1.6 billion. The primary purpose of the CapEx fraud is likely to support the company’s income statement fraud.
Chairman Yang appears to have stolen at least RMB 150 million of assets from Huishan – the actual number is quite possibly higher. The theft relates to the unannounced transfer of a subsidiary that owned at least four cow farms to an undisclosed related party. It is clear to us that Chairman Yang controls the subsidiary and farms.
Even if Huishan’s financials were not fraudulent, the company appears to be on the verge of default due to its excessive leverage. Taking Huishan’s financials at face value, its credit metrics are horrible. The leverage is so substantial that in FY16, Huishan’s auditor appears to have stopped just short of issuing a “going concern” qualification. Given that we conclude Huishan’s reported profits are fraudulent, we have no confidence that Huishan can make it through the next year without defaulting. There are clear signs of enormous financial stress, including the types of financing Huishan is trying to employ and halted projects. The asset side of Huishan’s balance sheet, in our opinion, is massively overstated due to fraudulent profits and cash, overvalued biological assets, and certain highly suspicious asset accounts.
Although Huishan has a “real business” in contrast to a typical Zero, its massive leverage cause us to conclude that its equity is close to worthless. It is our view that Huishan’s asset values and reported profits are inflated by significant amounts, and that its cash is greatly overstated. The extent of these overstatements are unclear, and it is likely there are other asset accounts that are similarly afflicted. Valuing Huishan’s true equity value requires knowing the truth about its accounts – and truth is in short supply at Huishan.
CCASS data strongly suggests that a significant portion of Huishan’s outstanding shares has been pledged as collateral for loans. If we are correct, this presents a significant risk to long holders if the borrower(s) is / are unable to meet margin calls.
We researched Huishan for several months. During this time, our investigators visited 35 farms, five production facilities (including one that was halted mid-construction), and two announced production sites that had no evidence of construction. Additionally, our investigators conducted drone flyovers of selected Huishan sites. We engaged three dairy experts, including two with deep backgrounds in China dairy farming. We and our investigators spoke with suppliers and importers of alfalfa in three different provinces, some of whom were selling alfalfa to Huishan. In addition, we conducted extensive due diligence into Huishan’s topline, which we will discuss in Part 2.
Although Huishan has a “real business” in contrast to a typical Zero, its massive leverage cause us to conclude that its equity is close to worthless. It is our view that Huishan’s asset values and reported profits are inflated by significant amounts, and that its cash is greatly overstated. The extent of these overstatements are unclear, and it is likely there are other asset accounts that are similarly afflicted. Valuing Huishan’s true equity value requires knowing the truth about its accounts – and truth is in short supply at Huishan.
CCASS data strongly suggests that a significant portion of Huishan’s outstanding shares has been pledged as collateral for loans. If we are correct, this presents a significant risk to long holders if the borrower(s) is / are unable to meet margin calls.
We researched Huishan for several months. During this time, our investigators visited 35 farms, five production facilities (including one that was halted mid-construction), and two announced production sites that had no evidence of construction. Additionally, our investigators conducted drone flyovers of selected Huishan sites. We engaged three dairy experts, including two with deep backgrounds in China dairy farming. We and our investigators spoke with suppliers and importers of alfalfa in three different provinces, some of whom were selling alfalfa to Huishan. In addition, we conducted extensive due diligence into Huishan’s topline, which we will discuss in Part 2.
Fraudulently Inflating Margins by Falsely Claiming Alfalfa Self-Sufficiency
We conclude that Huishan has fraudulently inflated its gross margins and reported profits since at least FY14 by lying about being self-sufficient in alfalfa. Huishan cites self-sufficiency in alfalfa production as the main driver of its industry-leading gross margin. Our research indicates that Huishan was never self-sufficient in alfalfa. Instead Huishan has bought substantial quantities of alfalfa from third parties at higher prices than its claimed production costs. The company also claims to preserve margins by implementing a feed cost reduction effort that we find dubious. Starting in FY16, Huishan began claiming that it is decreasing alfalfa rations to engineer lower milk yields in an environment of depressed prices. We do not believe this holds water, and instead view it as a ham-fisted attempt to unwind the alfalfa fraud.
MW_6863_HK_20161216
2016-12-15 23:05 VWArticles www.valuewalk.com
35 /48 2.2 Gunter rolls past Boling 43-7 to win 3A-II in 1st title game Colson Stovall rushed for 180 yards and four touchdowns and Gunter rolled in its first state final appearance, beating Boling 43-7 for the Class 3A Division II championship Thursday night.
Stovall had TD runs of 1, 5, 22 and 2 yards, and quarterback Trey Carr opened the scoring with a 1-yard plunge as Gunter (16-0) built a 21-0 lead by the middle of the second quarter. Carr rushed for 105 yards and completed all four of his passes for 37 yards.
Gunter didn't allow an offensive touchdown and gave up just 142 yards total offense and six first downs while gaining 411 yards.
The only touchdown for Boling (13-3) came on an 80-yard kickoff return by Ronal Krushall.
Gunter was coming off a semifinal victory over two-time Class 2A Division I champion Canadian. Boling won a title in its only other trip to the state finals in 1972.
Dylan Jantz rushed for 48 yards and Gunter's final touchdown on a 26-yard run in the fourth quarter.
Kade Bickham had 51 yards rushing to lead Boling, and Vernon Jackson was 3 of 7 passing for 41 yards.
2016-12-15 23:00 The Associated www.charlotteobserver.com
36 /48 1.2 China Credit Stimulus Pushing Steel Demand Until 1st Half 2017 China has been an economy that has faced significant headwinds , with multiple predictions of doom and gloom failing to materialize. The notion that China was causation for commodity deflation was a popular meme, but steel consumption is picking up. A Goldman Sachs report looks at steel demand and tracks how government credit stimulus efforts impact steel demand. The report tracks stimulus and its impact based on how it is injected into the economy. Steel demand out of China should remain strong until at least the first half of 2017, a December 13 Commodities Research report from Goldman notes.
There are two primary methods that the Chinese government has introduced stimulative credit into its economy. One method, through infrastructure spending, creates a stimulative impact that can sometimes take longer to filter into the system but lasts longer.
In a research report titled “China on Demand: The long shadow of credit stimulu s,” notes that credit stimulus can be expected to last for four or five years when injected through infrastructure plans. This is because it can take longer to build railways, subways and other steel heavy projects.
Compare this to housing credit stimulus, which the report estimates can find its way into steel demand quicker but only last one to two years. Stimulus overall becomes apparent during the third quarter after the initial credit injection, but becomes statistically insignificant from the fourth quarter onward.
“Credit stimulus casts a long shadow over metal demand,” and that demand “remains stronger for longer if credit stimulates infrastructure vs. property investment,” The report concluded. “The lead/lag relationship between credit and steel consumption can be different, as infrastructure projects tend to take much longer to complete than housing units. Such differences are important because it means that the profile of credit boost to steel consumption may vary depending on where the government directs credit flows.”
For Chinese steel demand, the credit stimulus that was input into the system earlier in the year is starting to have an impact. If the stimulus faucet were to be turned off to near 2014 lows, the support has at least a 6-month impact, the report estimated.
Sometimes the stimulus can artificially overheat a market.
China’s latest property market boom , driven in large part by central government planning, has led to local governments announcing purchase restrictions over the past few months. Ironically, this is leading to government central planning being used to clean up the mess from government central planning.
Goldman says that property restrictions could be an investment headwind and “clearly a risk to watch.”
There is also policy uncertainty that is a risk, that is not exclusive to China. “While potential fiscal stimulus in the US and improvement in activity globally are lifting risk assets and inflation expectations, policy parameters under the Trump administration remains unknown,” the report said. “China credit and capital outflow risks, which depend crucially on government policies, could resurface in 2017.” 2016-12-15 22:15 Mark Melin www.valuewalk.com
37 /48 2.6 Dr Doom Marc Faber: Trump trade war will hurt US more than China If President-elect Donald Trump 's rhetoric ends up fueling a trade war with China, it's the U. S. that will take it on the chin, Marc Faber , the publisher of the Gloom, Boom & Doom report, told CNBC on Friday.
"Mr. Trump is not particularly keen on China," Faber told CNBC's "Squawk Box" on Friday. "There may be some trade war escalation or trade restrictions with China, which in my view would rather be negative for the U. S. than for China. "
Trump has certainly set his sights on China. On the campaign trail, Trump repeatedly accused China of manipulating its currency in order to give its exports an advantage over U. S.-made goods, and he threatened to slap a tariff of up to 45 percent on Chinese imports.
While China's yuan has fallen against the U. S. dollar in recent months, policymakers on the mainland have been intervening to support the currency, not weaken it.
But Faber, who is also known as Dr. Doom for his usually pessimistic predictions, noted that China wouldn't be easily cowed.
"China does not depend on the U. S. The U. S. is still its largest export destination as a country, but taken together, all the emerging markets are for China much more important," Faber noted.
China exported about $482 billion in goods to the U. S. last year, more than any other country exported to the United States, according to the Office of the United States Trade Representative. The U. S. exported about $116 billion in goods to China in 2015, putting its goods trade deficit $366 billion.
That compared with the 10 members of the Association of Southeast Asian Nations (Asean) alone importing $211.55 billion from China in 2015, while exporting around $134.25 billion to the mainland, according to data posted in November by the trade bloc.
But Faber wasn't sanguine on the outlook for China's markets.
"We have a credit bubble in China, like, by the way, everywhere else in the world. It's just bigger in China and that, in my view, will have to be deflated," he said.
Dr. Doom also wasn't trusting Wall Street's rally since Trump's election, nothing that Presidents Ronald Reagan and Herbert Hoover also began their tenures with huge rallies, followed by crashes.
On Thursday, the Dow Jones industrial average rose 59.71 points, or 0.3 percent, to close at 19,858.24, after climbing at one point to a mere 50 points away from hitting the 20,000 mark.
Faber said that the U. S. market was getting toppish.
"If you want to be in equities, the U. S. market is now at the most expensive level compared to Europe, Japan and emerging economies it's ever been," he said. Despite Thursday's gains, "there were more new 12-month lows than new highs. "
He wasn't optimistic on how much further the market can run.
"In March 2017, the U. S. bull market will be eight years old. By any standard, this is a very aging bull market. By June 2017, the economic recovery will be eight years old. By any standard, a recovery that is very mature," he noted.
Faber was also pessimistic about the market's prospects under the Trump administration.
"We have to be very careful when we talk about investments. We have a lot of volatility coming toward us. I think that in general people are far too optimistic about the U. S. becoming again a great country," he said. "I doubt that one man alone can do it. "
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2016-12-15 21:55 Leslie Shaffer www.cnbc.com
38 /48 2.2 In run for top job, Regina Ip seeks balance between pleasing Beijing and Hongkongers Regina Ip Lau Suk-yee’s platform for her chief executive bid is a testament to her efforts to strike a fine balance between securing Beijing’s trust and winning the support of the Hong Kong people. As she officially announced her run for the city’s top job on Thursday, the New People’s Party chairwoman called for harmonising the relationship between Hong Kong and the mainland in the wake of growing tension across the border over the past few years. In her declaration speech, she pointed to the need for efforts to go beyond “slogan-yelling to solve the myriad problems faced by Hong Kong”. Her solution? A “comprehensive narrative” about the concept of “one country, two systems”. “I believe the next administration shall give Hong Kong people and the international community a more in-depth and comprehensive narrative about the concept and implementation of ‘one country, two systems’, with a view to rebuilding harmonious Hong Kong-mainland relations so that Hong Kong can continue playing to the strengths of ‘one country, two systems’,” she said. Ip pledged to relaunch consultation on electoral reform based on the restrictive framework laid down by the National People’s Congress Standing Committee in August 2014 for electing the chief executive by universal suffrage. In June last year, the Hong Kong government’s proposal for the 2017 chief executive election, which followed Beijing’s framework under which Hongkongers would choose from two or three candidates endorsed by a 1,200-strong nominating committee, was voted down in the Legislative Council. Known as “Iron Lady” because of her combative and uncompromising style in her promotion of the national security legislation in 2003, Ip also promised to revive the. In July 2003, she stepped down as security chief after 500,000 people took to the streets in protest and forced the government to shelve the bill. Compared with Financial Secretary John Tsang Chun-wah, who has scored points for his appreciation of Hong Kong’s values and recognition of the bright side of localism, Ip obviously chose to pay greater heed to “one country” while highlighting the importance of “two systems”. Tsang, who tendered his resignation on Monday, is expected announce his bid for the city’s top job once he gets approval from the central government. The slogan of Ip’s manifesto, “Win Back Hong Kong”, begs the question of from whom she or Hong Kong people should win the city back, or what she wants to win back for Hong Kong, which has been deeply divided since the Occupy protests in 2014. Ip should bear late Singaporean prime minister Lee Kuan Yew’s advice in mind when she struggles to please both Beijing and Hongkongers. During his visit to Hong Kong in 2005, Lee said the chief executive had a very difficult task. “It is a thankless job. You have a master in China. You have subsidiary masters in Hong Kong,” he said. Ip, the veteran-official-turned-politician, was all business when she outlined her platform on nine policy areas at Thursday’s press conference, making it more like a media briefing on policy papers offered by a minister. During her 45- minute speech at the Convention and Exhibition Centre in Wan Chai, she , and there was a dearth of colourful sound bites to rouse her supporters on the floor. At his election rally in November 2011, then underdog Leung Chun-ying fought back tears when he talked about how the image of his late mother kept coming back to him as he was writing his declaration speech. Leung, who defeated the early front runner Henry Tang Ying-yen four months later, said his mother had her feet bound when she was a child, and that every step he had taken up to this point was “like the step that my bound-foot mother had taken. It symbolises my determination in pursuing my goals”. All eyes are on Ip now, waiting to see how far the “Iron Lady” – armed with her no-frills declaration speech and manifesto – can go in the race to succeed Leung, who with his decision not to seek re-election.
2016-12-15 21:29 Gary Cheung www.scmp.com
39 /48 2.2 Canadian beauty queen confronts China WASHINGTON — Poised but defiant, Miss Canada will be vying for more than the winner’s tiara when she competes in the annual Miss World pageant in Washington this weekend. Anastasia Lin wants to tell the world about the evil of organ-harvesting.
Lin was due to compete at Miss World last year when it was hosted by China but was barred from entering the country due to her activism against persecution of Falun Gong, a meditation practice that she follows and that China’s government has outlawed.
U. K.-based Miss World is allowing her to compete again this year in the U. S. Some U. S. media organizations say Miss World, which has Chinese corporate sponsorship, has prevented them from speaking to Lin. But she was allowed to speak to The Associated Press in an interview Wednesday in which she spoke forthrightly about her cause, although she sidestepped questions about whether she faced restrictions.
“Everybody is tied economically with China. China’s soft power is so huge that no one really dares to speak up,” said Lin, 26, at a hotel just outside Washington at the National Harbor in Oxon Hill, Maryland.
Lin, who was born in China and moved to Canada with her mother at age 13, has riled China’s government with her public advocacy. She has alleged that tens of thousands of Falun Gong practitioners have been killed so their organs could be harvested and sold for transplants. She has spoken out at a U. S. congressional hearing, and since her exclusion from last year’s pageant in China, she has attracted world media attention and given testimony before the British and European parliaments. She says the Miss World pageant, in which contestants each present a cause or platform, is another opportunity to speak out and give people hope.
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2016-12-15 21:11 www.pressherald.com
40 /48 0.0 The Eagle Huntress is a documentary that soars The Eagle Huntress There's a Star Wars connection in The Eagle Huntress, too, for it is a documentary narrated (and executive-produced) by Daisy Ridley about a Kazakh girl in remote Mongolia who yearns to do what for more than 1,000 years only men have done in her nomadic tribe. She wants to hunt with eagles. This is 13- year-old Aisholpan, who lives in a real yurt, not one in the Cotswolds. Her dream of becoming Mongolia’s first eagle huntress rather scandalises the male elders, for whom a woman’s rightful place is in the home, cooking and washing. ‘They get cold,’ declares one, dismissively, at the very idea of females being out hunting. But the hugely engaging Aisholpan is determined to do what her father and grandfather did before her, using eagles to provide vital sustenance in the form of food and fur. We see her triumph in the most heartwarming way, confounding her elderly critics by winning a hunting competition. But best of all we watch her out on the steppes, taming and training an enormous eagle, like a ruddy-cheeked and less scrawny Kazakh version of Billy Casper, the hero of Kes. The (first-time) director is Otto Bell, whose film has been shortlisted for an Academy Award nomination. And that seems quite right. It deserves to soar.
2016-12-15 21:09 Brian Viner www.dailymail.co.uk
41 /48 5.6 Ecuador sends troops to Chinese copper exploration project after protest By Alexandra Valencia QUITO, Dec 15 (Reuters) - Ecuador sent soldiers and police on Thursday to an isolated jungle area after a policeman was killed and several security officials injured in a violent protest against a Chinese copper exploration project amid conflicts between mining companies and indigenous communities. Ecuador's president, Rafael Correa, declared a 30-day state of emergency in Morona Santiago province, home to the Panantza-San Carlos exploration project operated by the ExplorCobres company. His government said "illegally armed groups" protested against the project on Wednesday. "Violent people want to take over the mining camp," Correa said on Twitter. "We have one dead police officer and several others injured. Criminals! " Local media reported that the indigenous Shuar group, which accuses authorities of generating violence by kicking them out of their ancestral home to make way for mining developments, staged the protest. The head of Ecuador's larger indigenous association, CONAIE, called on the church to mediate the conflict. "These are no invaders, these are communities who have lived here for hundreds of years," said Jorge Herrera. The incident highlights tensions facing Ecuador and much of mineral-rich Latin America - how to develop vast mineral wealth while addressing deep inequalities, environmental concerns and indigenous rights. Reuters was not immediately able to reach ExplorCobres. China has been the largest financier of Ecuador, an OPEC nation, since 2009 and is heavily present in its oil industry. (Reporting by Alexandra Valencia; Writing by Alexandra Ulmer; Editing by Peter Cooney)
2016-12-15 21:08 Reuters www.dailymail.co.uk
42 /48 3.3 China says justice ministry official probed for suspected graft BEIJING, Dec 16 (Reuters) - A senior official at China's justice ministry is under investigation for suspected graft, the ruling Communist Party's anti- corruption watchdog said on Friday. In a brief statement, the Central Commission for Discipline Inspection said Lu Enguang, head of the ministry's political affairs department, was suspected of "serious discipline violations", using the usual euphemism for graft. It gave no other details. It was not possible to reach Lu for comment and it was unclear if he has been allowed to retain legal representation. Lu assumed his current position in November last year, and had previously worked in the Ministry of Human Resources and Social Security and in the publishing industry. Chinese President Xi Jinping is leading an aggressive campaign against official corruption that is tearing down once-untouchable Party, military and business leaders and rolling up their powerful networks of relatives and allies. (Reporting by Ben Blanchard; Editing by Stephen Coates)
2016-12-15 20:43 Reuters www.dailymail.co.uk
43 /48 43 /48 3.2 Tuk tuk driver accused of raping Australian tourist in Thailand Ekburut said they traveled to the deserted building in the district where they had sex and he then left without her. Thai police moved quickly to investigate the case amid concerns about its impact on the tourism industry. But senior Thai police earlier publicly denied the allegations, saying the rape was reported too quickly to be 'likely'. 'If there was a sexual assault, it would have taken her longer [to get to the police station],' Pol. Col. Thanawat said. Besides, at the time she claimed the assault took place, she was seen on Khaosan Road,' he added. The police officer said it can take up to 25 minutes for a tuk to travel from Khao San Road to the abandoned building where the alleged rape took place. He also explained CCTV cameras place the tourist with the bike and its rider just four minutes before she entered the police station. The young Australian arrived at the police station on the back of a motorbike – after fleeing from her alleged attackers. It was understood the Australian woman arrived in Thailand on December 2 and is due to go home on December 19. Those found guilty of rape in Thailand can face up to 20 years in jail.
2016-12-15 20:23 Nic White www.dailymail.co.uk
44 /48 2.3 Business News Roundup, Dec. 16 European officials flipped the switch Thursday on a satellite navigation system meant to rival the U. S.-made GPS service that’s become a staple feature of smartphones and cars worldwide.
The Galileo system — named after the Italian engineer and astronomer — is designed to provide commercial and government customers with more precise location data than GPS. However, it is eight years late and billions over budget.
Being able to accurately pinpoint a position is key to a growing range of products and systems, including real-time logistics, self- driving cars and drone delivery services.
Satellite systems such as GPS also play an important role in providing precision timing for financial transactions and energy grids.
The launch of the first 18 Galileo satellites was hit by delays and several failures. One satellite has stopped working and two others ended up in the wrong orbit. But the European Space Agency managed to launch four satellites on a single rocket last month and expects to have a full complement of 24 satellites, plus spares, in orbit within four years.
While GPS receivers are standard in millions of devices, only a handful of gadgets support the Galileo system so far.
Consumer prices rose in November by the smallest amount in three months as the climb in energy prices moderated a bit and food prices remained flat.
The Labor Department said Thursday that its consumer price index increased 0.2 percent last month after a 0.4 percent October increase.
Energy prices were up 1.2 percent, a slowdown from a 3.5 percent rise in October. The result reflects the fact that gasoline prices rose 2.5 percent last month, less than half the 6.7 percent October gain. Food prices showed no increase for a fifth straight month.
Over the past year, consumer prices are up 1.7 percent, below the Federal Reserve’s 2 percent target.
Chemical giant DuPont will pay more than $50 million but admit no fault under a proposed environmental settlement after releasing toxic mercury for decades into Virginia’s Shenandoah Valley waterways, authorities announced Thursday.
The deal will resolve state and federal litigation over pollution from a company factory. It amounts to the largest environmental damage settlement in Virginia history and the eighth- largest in the nation, officials said. The money will go to wildlife habitat restoration, water quality enhancement and improvements to recreational areas.
“In bringing this settlement to a close, we are finally righting a wrong that has impacted the South River and the South Fork of the Shenandoah River for so many decades,” Gov. Terry McAuliffe said at a news conference announcing the settlement.
Long-term mortgage rates climbed for the seventh straight week after Donald Trump ’s election victory, again marking new highs for the year.
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate loan rose this week to 4.16 percent from 4.13 percent the previous week. The benchmark rate is well above its 3.97 percent level of a year ago.
The rate on 15-year home loans rose to 3.37 percent from 3.36 percent.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.
The average doesn’t include points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for 30-year and 15-year mortgages was unchanged this week at 0.5 of a point.
Rates on adjustable five-year loans rose to 3.19 percent from 3.17 percent. The fee slipped to 0.4 of a point from 0.5 of a point.
The Obama administration has filed its 15th challenge against China at the Word Trade Organization , alleging it is unfairly limiting American farmers’ ability to export rice, wheat and corn.
China had agreed to permit a certain amount of grain and corn to enter the country subject to a reduced tariff rate. The administration says it’s filing the challenge to hold China to that commitment.
Exporters are sometimes concerned that countries make it difficult to take advantage of the lower tariff rates. U. S. trade officials describe China’s system as “not transparent, predictable or fair.”
Agriculture Secretary Tom Vilsack says China is a significant market for U. S. grain farmers.
Lawmakers from both political parties are applauding the challenge.
Chronicle News Services
2016-12-15 20:20 Chronicle News www.sfgate.com
45 /48 2.1 Chinese imperial seal from 18th century sells for record $22mn — RT Viral The item, which sold for more than 20 times the estimated price, was purchased by an anonymous Chinese collector in France’s Drouot auction house, according to AFP.
The seal which was at the center of a heated battle between both bidders on the telephone and at the auction house, belonged to Chinese Emperor Qianlong who is believed to be the longest serving emperor in the country’s history.
Under Emperor Qianlong’s leadership, culture flourished in China and his long reign resulted in the Qing Empire reaching its most prosperous era, with the country's economy and population being boosted.
The sides of the seal are decorated with nine dragons that resemble the emperor’s authority and masculinity, the auction house told AFP.
Emperor Qianlong’s reign led to the increase of the population by around 400 million people as his territory expanded. It was only towards the end of his reign that the country began declining.
The Qing dynasty lasted until 1912. A young naval doctor obtained the seal in China during the late 19th century and the item had remained in the same family’s possession ever since.
The officer had made frequent trips to China and created an impressive collection of artifacts from the region through his “taste, culture and the friendships he was able to build up over the years,” the auction house said.
READ MORE: Photo of Chinese artist Ai Weiwei posing as drowned refugee child Aylan Kurdi sparks controversy
2016-12-15 19:24 www.rt.com
46 /48 0.0 Cesc Fabregas could be next Chelsea player to head for China as Guangzhou Evergrande eye £40m summer move Cesc Fabregas could follow Oscar out of Chelsea in a mega-money move to China in the summer. The 29-year-old is the subject of interest from the Chinese Super League but neither Chelsea nor Fabregas would consider a deal in January. The midfielder is happy at Chelsea and is playing his way back into Antonio Conte's plans. His likeliest destination is Guangzhou Evergrande, who are coached by Luiz Felipe Scolari, the former Chelsea manager, and were also in the mix for Oscar. They lost out to Shanghai SIPG in that £52million deal, which was exclusively revealed by Sportsmail. While Chelsea have sanctioned the sale of Oscar to Shanghai in January, they are keen to keep Fabregas, who scored the only goal away at Sunderland on Wednesday. Insiders say Chelsea could ask for as much as £40m if Fabregas, whose contract with the west London club runs until 2019, leaves for Guangzhou. The Spaniard has struggled for game time this season and the riches on offer in China — Oscar will reportedly earn a staggering £400,000 a week — may tempt him. Fabregas has appeared in only seven Premier League matches this season — starting just three of them — but he has thrived recently and hit out at his critics on Thursday. 'In football today people forget very, very quickly who you are and what you can do,' he said. 'Hopefully now I can get a run of games in the team.' Sportsmail previously revealed that Guangzhou will offer a huge deal to John Terry when his Chelsea contract expires. The former England captain, 36, is an ambassador for the Chinese club. Fabregas and Terry would join former Atletico Madrid and Porto forward Jackson Martinez, 30, who signed for Guangzhou for £32m. Other well-known players in China include former Chelsea midfielder Ramires and Brazil forward Hulk. Chelsea offered no comment on Fabregas.
2016-12-15 18:30 Kieran Gill www.dailymail.co.uk
47 /48 47 /48 1.2 BULLSH**TER OF THE DAY: Sean Spicer, for the most opaque view yet on presidential transparency –Sean Spicer, CNN, Dec. 14, 2016 Delusional #MAGA supporter and potential Press Secretary for the Trump administration, Sean Spicer Donald Trump was supposed to hold a “major press conference” today explaining how his blatant conflicts of interest are not going to be a problem. Instead, he postponed it indefinitely, and he tweeted on Tuesday that his children (who, by the way, have front-row seats in the transition team) would be taking over the Trump business. Of course that doesn’t solve the conflict of interest, it just pushes it down the Trump lineage. But lo and behold, here’s Sean Spicer to try to make you think that there are no issues because they are being “transparent” about all of them. The Trump administration is either too stupid to understand the difference between transparency and conflict of interest or they think the American people are. Conflict of interest means having, well, conflicting interests. That is, the President of the United States should always look after what benefits the majority of the people, not one of his own businesses. The Trump company should not have direct access to policy meetings – as it has had so far during the transition. And if you want to talk about transparency, Mr. Spicer, having a camera at the entrance of the building does not help in explaining how Trump (the brand) and Trump (the president) are behaving absolutely independently of each other.
2016-12-15 18:24 Mireia Triguero www.salon.com
48 /48 3.3 ‘The Great Wall’ Review With shocking regularity, films depict China or Chinese officials as being direct or indirect heroes whose morality and intellect save the world (e.g., “Arrival”) or solve the problem. These plot devices are naked efforts to obtain exhibition in China and/or reflect that Chinese money helped to finance the film. Sickening and pandering on breathless scale. I hope Matt got a big paycheck for this.
Actually, in Arrival it is the complete opposite! Chinese hot headed-ness threatens world destruction! A calm American scientist saved the day. Which is why Arrival is a masterpiece. ★★★…
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This sounds completely coma-inducing.
2016-12-15 18:00 Maggie Lee variety.com
Total 48 articles.
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Created at 2016-12-16 11:10