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© The Financial Times Limited 2016. All Rights Reserved. Not to be redistributed, copied or modified in any way. Edition 2530 FT | 04 Apr 2016 Chinese football, more than a game

By Ben Bland Ukraine’s Shakhtar Donetsk and Charles Clover xinhua for USD55m in February. It was the third time in a mat- My life in hasn’t real- ter of days that the national ly started yet,” says Gervin- transfer record had been ho with a nervous laugh. broken and Jiangsu report- “But Chinese football has edly beat English Premier huge growth ahead of it (…) League side Liverpool to many friends in the football sign Teixeira. world have congratulated Chinese clubs have had to me and told me they want to pay big transfer fees and of- join me here.” fer some of the highest sala- In a country more famed ries in the football world, a for its exports than its im- move that threatens dramat- ports the 28-year-old Ivo- ically to alter the dynamics rian footballer is one of the of the global transfer mar- unlikely faces of a new Chi- ket, according to industry nese revolution - one that observers. aims to bring the world’s Edward Woodward, ex- biggest game to the world’s ecutive vice-chairman largest audience. of Manchester United, the The former Arse- third-wealthiest club in the nal and Roma footbal- world by revenue, told in- ler in January moved for vestors recently that China’s a USD20m transfer fee to investment had created “an- , a city best other useful market if we’re known as the country’s looking to sell any players”, biggest coal port. His new without noting that Euro- employer, recently promot- pean clubs may face stiffer ed China Super League team competition to sign that tal- Hebei China Fortune, has ent in the first place. been transformed by the “In a matter of weeks, sudden rush of investment we’ve seen the global pow- from its billionaire owner. er balance in football shift The impact of such in- east by quite a big margin,” vestments has not gone says Simon Chadwick, a unnoticed. Through buy- professor of sports business ing foreign players, taking at the UK’s Salford Uni- stakes in overseas clubs versity. “China and football like Manchester City and have been flirting with each even acquiring sponsorship other for the best part of two rights for FIFA, the game’s decades but it’s never really governing body, China’s taken off. The big difference spending splurge on football now is the backing of Pres- is reverberating around the ident Xi and his desire to world. host the World Cup and then Supported by some of eventually win it.” the country’s best-known Just like its plans for coal tycoons including Jack production and railway con- Ma of Alibaba and Wang struction, the ruling Com- Jianlin of Wanda, it mirrors munist party has a fixed its unprecedented acquisi- growth target for sports. It tion spree of other premium Guangzhou Evergrande players celebrate after scoring a goal released a plan last year to global assets from hotels achieve Mr Xi’s goal to turn to agribusiness. And it has international power, reflect- industries from robotics to to power, and with his sup- ter transfer window, more China into a “great sports prompted similar questions. ing Beijing’s ambitions to aviation. port, sports are being giv- than in any other league, in- nation”, creating an industry Are Chinese companies compete in other global “After Xi Jinping came en a boost,” says Zhang cluding England’s big-mon- worth Rmb5tn ($760bn) by overpaying? Is such ram- Dazhong, chief executive ey Premier League, accord- 2025, up from Rmb400bn- pant deal making sustain- of the recently established ing to Deloitte. last year, and expanding the able or is yet another bubble Unlike an earlier trend sports division at Alibaba, Unlike an earlier trend number of schools offering soon to burst? the Chinese ecommerce of importing fading stars, specialised football training Much seems to hinge on of importing fading group that invested in the several clubs have secured from 5,000 to 50,000. the backing of one man: country’s top club in 2014. leading players from Euro- The ultimate aim is to win President Xi Jinping, a fan stars, several clubs have “It’s high time for us to do pean teams. Record sign- a bid to host the World Cup of the game who wants to secured leading players this.” ing Alex Teixeira, a 26-year- and help the poorly perform- turn China from a foot- CSL clubs spent more old Brazilian midfielder, ing national team - ranked balling backwater into an from European teams than $280m during the win- joined Jiangsu Suning from 96 in the world, behind

Syndicated articles from 04.04.2016 F2

© The Financial Times Limited 2016. All Rights Reserved. Not to be redistributed, copied or modified in any way.

Chinese football, more than a game (continued) the Faroe Islands and North ambition and allow Chinese wards pay-per-view sports.

Korea - compete at the companies to learn from the xinhua The media executive esti- highest level. The nation’s experts. But they admit it mates that with revenues as tycoons - many of them has put them under financial they stand and half of the beneficiaries of the long pressure. league’s 16 teams spend- property boom - are lend- “We don’t know yet if the ing Rmb1bn or more a year, ing their support, investing premiums clubs are pay- clubs will be racking up sub- heavily in the CSL, creating ing for players are justified stantial losses. football schools, competing and it’s very hard to value Richard Battle, a football for TV rights after their re- them,” says Adrian Chen, business analyst at Deloitte, lease from state control and an executive at R&F Prop- argues that deep-pocketed acquiring stakes in some of erties, which owns Guang- owners and rising reve- Europe’s top clubs. zhou R&F, one of two CSL nues will support the medi- Less than two months af- clubs in the southern city. um-term growth of the game ter Mr Xi posed for a self- “We hope there will be an in China. “As long as high- ie with Manchester City improvement in gameplay net worth individuals and striker Sergio Aguero while that will boost ticket and businesses want to compete on a state visit to the UK in merchandise sales and im- in football, clubs don’t have October, Li Ruigang, a me- prove the overall quality of to generate all the revenue dia mogul who was on the football in China.” needed to cover their costs,” trip, led a consortium that Guangzhou’s other team, he says. paid $400m for a 13 per cent now known as Evergrande Football supporters in Chi- share of the club. Mr Li also Taobao FC after Alibaba’s na fear that these tycoons paid a record Rmb8bn for investment, paved the way will lose interest, run out of the five-year rights to broad- for China’s football revo- cash or even fall foul of Pres- cast the CSL and sold them lution, recruiting interna- ident Xi’s other pet project - on for a profit in February. tional players and coaches, the anti-corruption crack- Last year Mr Wang, chair- building one of the world’s down. “If China doesn’t get man of the Wanda property biggest football schools, results quickly, how long and entertainment group, dominating the CSL and before these investors go paid $52m for a stake becoming the first Chinese cold?” asks Mr Chadwick. in Spain’s Atlético Ma- winners of the Asian Cham- “A lot of this is dependent drid and Chen Yansheng, a pions League in 2013. on President Xi. If something toy-car tycoon, took control “We have the biggest fan happens to him, how quickly of Espanyol, another top-ti- base in the country and are will all this unravel?” er Spanish team. totally market oriented,” While owners worry about Wanda and Alibaba have says Mr Zhang of Alibaba, Gao Lin (righ) of China vies with Ali Samooh of Maldives during 2018 FIFA World Cup qualification finances, fans are debating both signed sponsorship which owns 38 per cent of football match played last month in , China whether the influx of -for deals with scandal-hit the club. The club became eign stars will help or hin- Fifa in recent months, with the first Asian football busi- ball writer in China who has baba also see an opportunity in media rights, ticket sales der the development of the Wanda claiming that its ness to list on a stock market transformed himself into a to build content businesses and other revenue streams. national team, which failed agreement would leave it last year. Mr Zhang boasts player’s agent, says Ever- in a country where mobile Lei Zhenjian, chief ex- in its most recent effort to “better placed to play a role of a market capitalisation grande set the standard for commerce is growing fast. ecutive of LeEco Sports, qualify for the World Cup. in the bidding process to close to Manchester Unit- others to follow, while Mr Most clubs have seen a sig- an online broadcaster CSL teams are limited to host major football events ed’s $2.3bn, although its Xi’s enthusiasm “had a big nificant jump in attendances that bought the first two signing five foreign players such as the World Cup”. shares are 95 per cent owned effect on how much major during the opening fixtures years of CSL rights but often fill the attacking Chinese football execu- by Alibaba and Evergrande, enterprises are willing to in- this season but ticket prices for Rmb2.7bn from Mr positions, blocking oppor- tives say these purchases, a property company, and vest”. remain too low to provide a Li last month, compares the tunities for local talent. On like the wider trend of in- the club reported a loss Many of those enterprises major boost to incomes. So deal to BSkyB’s purchase the opening weekend of the vestment in developed mar- of Rmb483m in 2014. also see good business rea- as clubs are forced to spend of the English Premier season, all 16 goals were kets, are designed to signal Christopher Atkins, a foot- sons for being involved in more on foreign players and League broadcast rights in scored by imports, including the sport. R&F, Hebei, Ever- coaches, the risk is that the 1992. Those rights are now Gervinho and Teixeira. grande and many other CSL losses grow faster than the the most expensive in world But Huang Zexin, an Ev- clubs are majority owned by revenues. football. ergrande fan, believes the If China doesn’t property developers. Well Mr Li, the media tycoon, But he admits that his foreign players have im- get results quickly, known in their home regions says Chinese football is company will not make any proved the quality of the they hope their involvement entering a virtuous circle, profit on the current deal league. “Two or three years how long before these in football will help them where increased investment as Chinese consumers are ago, I discussed only Euro- build nationwide brands at in broadcast rights supports reluctant to pay to watch pean matches and stars with investors go cold? a time when the real estate higher spending by clubs, football. Instead, he says my friends,” he says. “That Simon Chadwick market is struggling. Inves- leading to a better quality he is investing in “changing has changed and many Chi- Professor of sports business tors such as Wanda and Ali- league and further growth the behavior of viewers” to- nese matches and clubs have become the topic at our par- ties.” The football world is ask- ing if China can use its fi- Participants: The player, the manager and the owner nancial firepower to build success or whether the new- The veteran foreign player: His advice to the players mov- that the top clubs are most inter- marketing company in Beijing, found fondness for the game Adam Hughes came to China in ing to China: “You have to learn ested in buying the foreign stars paid $9m to acquire the top-tier is based on shaky founda- 2012 in search of a new challenge to respect and understand the needed to generate more reve- Dutch club ADO Den Haag in tions, like its investment but the Australian midfielder Chinese culture. Sometimes nue in the short term rather than 2014. He has invested further binges on property, steel and struggled with the language, the you have to sit back, not say too investing in youth talent. That funds but his efforts have been other industries. food and the biting cold weather much and take it all in.” would bode ill for the national criticized by fans who say he “If we want to be com- at his team’s then home base in team’s prospects of reaching an- has not delivered on his invest- petitive in the World Cup, the northern city of . The youth team manager: Un- other World Cup finals. ment promises. we need to learn how the After taking language lessons like in parts of Africa and Lat- “It will take at least two de- He says fellow Chinese busi- football world functions,” and learning more about China, in America, where many top cades for China to make it to nessmen should follow his lead says Mr Chen of Guangzhou the 33-year-old says he has grown players have emerged from the the finals of the World Cup,” he and buy more European clubs R&F. “Football is a long- to love the experience. He helped streets, most Chinese profession- says. “We cannot see that day to mine them for expertise. term investment, for us it is his second-division team Yiteng al footballers have come through very clearly to be honest.” “We need more Chinese to play still early days.” FC, which has since moved well-run amateur youth teams in Europe and for our coach- to Zhejiang province, win promo- like Beijing’s Guo’ao Yue Ye. The foreign club owner: es and managers to learn from Copyright The Financial tion to the . Club manager Cai Wei worries Wang Hui, who runs a sports these well-run clubs,” he says. Times Limited 2016

mon 04.04.2016 特刊 FEATURE F3

Development based on Mormonism founder’s plan finds few fans

By Lisa Rathke, Vermont Within 15 n obelisk soars into ap photo the sky on a hill in years, Hall central Vermont, hopes to marking the birthpla- ceA of the founder of the Church create similar of Jesus Christ of Latter-day Saints — and perhaps heralding developments an immense, futuristic, utopia-­ like community based on his throughout the papers. United States If a Mormon Utah busines- sman has his way, a develo- and have one pment would sprout nearby, albeit many years in the futu- full community re, that includes housing for 20,000 people, offices, gardens, going in 20 48 basketball courts and 48 years Olympic-size swimming pools. David Hall’s vision would be one thing if it were pie in the impact reviews in Vermont, sky. But he has deep pockets, which Hall believes would ena- 150 engineers working on the ble his project, while some resi- concept and land deals proving dents say they would quash it. he’s serious. His plan, the scope So far, the foundation has bou- of which has never been seen in ght nearly 900 acres in the com- this largely rural and mountai- munities of Sharon, Tunbridge, nous area, is creating concern. Strafford and Royalton and “I feel like this is a bomb that’s Concerned residents attend a public meeting in Tunbridge, Vermont, on a Utah businessman’s plans for a large-scale hopes to patch together 4,100 going to land on us and destroy development based on the writings of Mormon leader Joseph Smith more acres over the next 30 to what we have built up over the 50 years as people sell homes last 200 years here,” said Randy for making synthetic diamonds spend this summer in Vermont Surveys by the foundation and farms. For now, he plans to Leavitt, of South Royalton, that is used for cutting, grin- working with professionals to show that 10 percent of the po- lease the Vermont properties, during a community meeting ding, drilling and polishing in manage the land and homes. pulation would already prefer which include about a dozen with Hall by phone Thursday the electronics, computer and The foundation plans this year to live in smaller homes as long homes. evening. energy industries. Hall built on to start building eight apart- as they had conveniences, Hall Hall chose Vermont because Hall said that he expected lo- that and became an expert in ments and then a village with said. He also cited a growing it’s Smith’s birthplace and he cals to be opposed but hopes drilling technology. In Septem- 80 apartments in Provo, Utah. desire for locally raised food. recalls childhood trips to the that as other such developmen- ber, he sold his company, No- Within 15 years, he hopes to Buildings, land and equip- memorial. ts are built and become succes- vatek, and most of the proceeds create similar developments ment would be community-ow- “I’m interested in it just be- sful, residents will warm to the are going into engineering stu- throughout the United States ned and leased by individuals cause it’s such a beautiful area idea. dies for the project. and have one full community or families, but community and I’ve just had connection for Hall’s family foundation is Since the 1970s, Hall told going in 20 years. members would own their busi- so long,” he said. “And the Jo- also pursuing NewVista deve- The Associated Press in an in- While the communities are nesses, he said. seph Smith papers, not the re- lopments in Nevada, China, terview, he has spent USD100 modeled after Smith’s 1833 The project would require en- ligion, are the foundation of the India and Bhutan, he said, but million on engineering and plans for the city of Zion to be vironmental and community concept.” AP he would not disclose the exact other research on the con- built near Independence, Mis- locations. cept and plans to spend $100 souri, which called for a rec- “I already know that the local million more, with spinoff bu- tangular grid with square plots, people don’t want this,” he told sinesses such as transformable they will not be religiously ex- ap photo the crowd at the Tunbridge li- walls for the apartments and clusive, Hall said. brary. “What I’m counting on is foam-flushing toilets. Hall, 69, The plans set out by Smith that over time people will come said he doesn’t expect the Ver- resemble some other commu- to like it as they understand it.” mont project to happen in his nities of the time, especially the It’s billed as an economically, lifetime but possibly during the Fourierite socialist communes, ecologically and socially sustai- lifetime of his daughter, who is including Utopia, Ohio, and to nable development and wou- president of the family’s New- some degree the Oneida Com- ld include 24 main buildings, Vista Foundation and plans to munity, a religious commune in small apartments (200 square New York, said Dona Brown, a feet per person), rooftop gree- history professor at the Univer- nhouses and other gardens that sity of Vermont. would grow food, and offices But the development won’t be that could be converted into ho- I feel like this is like the communes that sprang tel or meeting rooms. The com- up in Vermont during the coun- munity would be walkable and a bomb that’s terculture of the 1960s. include enclosed “pod ways” for going to land “This is very free market. electric public transit. You’ve got lots of delis all over If all the development’s re- on us and the place, just around the sidents were new to tiny Ver- corner,” Hall said. “It’s free-­ mont, it would increase the sta- destroy what market, more city-type living te’s population by more than 3 that way; rural living because percent and quadruple the po- we have built you always have gardens and a pulation of the four small towns up over the last view right there. So it’s a combi- where he has bought land. nation between dense housing Hall’s father, a General Elec- 200 years here. and rural.” tric chemist, invented a process Randy Leavitt What’s the attraction? A sign marks the birthplace of Mormonism founder Joseph Smith Interview NATURE

04.04.2016 mon F4 NATURE 自然

system, a factor that may fur- ther weigh on prices. The pollu- tion cap in the EU ETS program EU carbon plan emissions fall decreases 1.74 percent each year in the 2012-2020 trading period. Permits are handed out as mild winter cuts power use or sold by governments to cover each metric ton of carbon dioxi- de companies emit. By Ewa Krukowska In 2014, carbon-dioxide dis- charges in the EU cap-and-tra- ollution by companies ap photo de program decreased by about Pin the European Union’s 4.5 percent after falling by emissions cap-and-trade pro- around 3 percent in 2013 on a gram, the world’s largest, fell like-for-like basis, according to by 0.8 percent last year as war- the European Commission. mer-than-average weather re- “In the last few days, EU duced demand for electricity. allowances have traded hi- Preliminary EU data implies gher o‎n the back of some pollution in the bloc’s emis- speculative buying; purchases sions trading system fell to 1.796 ahead of the surrender deadli- billion metric tons, the lowest ne by industrials,” Ingo Ram- since the market started in 2005, ming, London-based co-head according to Bloomberg New of commodity solutions for Energy Finance. The estimate Commerzbank AG, said Wed- excludes airlines, which together nesday in an e-mail. “With the with more than 11,000 installa- ce’s calculations. as 5.9 percent to 4.91 euros percent drop, according to Ber- news about emissions out, tra- tions owned by utilities and ma- “In the U.K., fuel-switching (USD5.61) a metric ton, the nadett Papp, an analyst at Ver- ders took profit. Over the next nufacturers are also a part of the and warm weather caused an lowest in more than five weeks. tis Environmental Finance Ltd. few weeks we would expect the EU ETS, Europe’s flagship policy 18 percent fall in power sector-­ The benchmark contract traded in Budapest. market to remain subdued.” tool to reduce greenhouse gases related emissions on a like-for-­ at 5.16 euros on ICE Futures “This might explain the sell-­ The commission, the 28-na- blamed for climate change. like basis,” said Jonas Rooze, Europe as of 3:34 p.m. in Lon- off after the publication,” she tion EU’s executive arm, today Last year was set to be Euro- London-based analyst at New don. Prices are still 78 percent said. “As the price broke above granted access to 2015 emis- pe’s second-hottest on record, Energy Finance. “Spain, in con- lower than at the start of 2008 the declining trend line, there is sions data at installation level. the World Meteorological Or- trast, saw a 17 percent increase amid a glut of allowances ag- a good chance that the price of The information covers 87 per- ganization said in December. in power sector emissions, but gravated by an economic slow- the allowances stabilizes above cent of stationary installations, Emissions from the power sec- this was more than offset by de- down that curbed industrial ou- 5 euros.” excluding aviation and newly tor in the EU ETS declined 2.9 clines in the U.K. and, to a les- tput and demand for permits. Today’s data suggests that the added sectors, and the estima- percent, with the largest drop ser extent, Germany.” The 2015 data is at the lower annual decline in emissions is tes were made on a like-for-like coming from U.K. utilities, ac- Emission permits for delivery end of analyst forecasts ranging slower than the drop in supply basis, according to New Energy. cording to New Energy Finan- in December dropped as much from a 1 percent increase to a 1 of permits to companies in the Bloomberg

ASK THE VET by Dr Ruan Du Toit Bester Caring for a Cat with Herpes Virus

he herpes cat virus causes flu-like symptoms. There are three means of con- Tsymptoms. It’s only contagious to tracting the feline herpes virus. They are: other domestic cats, but there›s no cure. • In utero, when unborn kittens contract If your cat contracts feline herpes virus, the virus from their mother. the most you can do is try to relieve the • Direct contact, when your cat comes symptoms and lessen the severity of the into contact with the oral or respiratory se- outbreak. Here›s what you need to know cretions of a cat who is shedding the virus. about felineherpes. • Indirect contact, when your cat comes into contact with the food bowl, litter tray, Feline Herpes Virus bedding or other belongings of a cat who is Explained shedding the virus. Feline herpes virus, or FVR, is an acute upper respiratory infection caused by feli- Dangers and Symptoms of • Lethargy Your cat will need to continue taking in ne herpesvirus type 1 or FHV-1. Feline her- Feline Herpes Infection • Ulcers of the mouth and tongue food and water. If the outbreak is particu- pes is the most common cause of upper The feline herpes virus grows in your • Pneumonia larly severe, this may mean putting him on respiratory distress in cats. It’s common in cat’s eyes, nose, throat, mouth, sinuses, an IV drip, force feeding him or injecting kittens, and in cats who must endure stres- and tonsils. This causes inflammation and Caring for Cats with Herpes fluids subcutaneously. sed or overcrowded environments, such as fever. Nasal discharge can cause a loss of Once your cat has become infected The amino acid, L-Lysine, may help to those found in animal shelters. Once your appetite, which is dangerous, especially in with feline herpes virus, he’ll remain in- suppress the virus and prevent outbreaks. cat is infected with the virus, he’ll have it kittens, who are especially prone to mal- fected for life; there is no cure. Treatment Speak to your vet before supplementing for the rest of his life. nutrition and dehydration. involves supportive care to help your your cat’s diet. The first outbreak is often the worst. Secondary infections can occur due to cat’s immune system suppress the vi- Once your cat recovers from this initial ou- tissue damage caused by the feline herpes rus once more; you can relieve your cat’s Hope this helps tbreak, his immune system will keep the vi- virus. The felineherpes virus may cause symptoms and try to shorten the outbreak. Till next week rus under control most of the time. Howe- spontaneous abortion in pregnant cats. You’ll need to keep your cat’s eyes and Dr Ruan ver, during times of stress or sickness, nose clear of discharge. Cleanse them your cat may experience another outbreak. Symptoms of feline herpes gently with clean, warm water and a cot- Corticosteroids may also trigger outbreaks infection include: ton ball. Your cat may need antibiotics to Ask the Vet: in cats suffering from feline herpes. • Sneezing treat secondary infections that could arise. Royal Veterinary Centre • Discharge from the eyes and nose Antiviral drugs may help shorten the fe- Tel: +853 28501099, +853 28523678 How Cat Herpes Infection • Conjunctivis and sometimes corneal ul- line herpes outbreak. We are currently Fax: +853 28508001 Spreads cers using Omega Interferon and PollyImmu- Email: [email protected] Your cat can catch the herpes virus from • Fever nostimulant as Immune boosters for cats www.facebook.com/rvcmacau other cats even if they aren’t showing • Loss of appetite with FHV and Cat Flu with great response. www.royalveterinarycenter.com