China - Economic Data & News 07 (Oct 11 - Apr 12)

Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Tue Mar 27, 2012 6:18 pm

China to Ban Public Purchases of ‘High-End’ Alcohol

Chinese Premier Wen Jiabao pledged to ban the use of public funds to buy cigarettes and “high- end” alcohol, warning that corruption may endanger the ruling Communist Party’s survival.

Wen, at a State Council meeting yesterday, also said state- owned enterprises and agencies must “strictly control” funds used to renovate “luxury” office buildings or buy artwork, according to a statement on the government’s website.

Consumption by government officials using public funds has helped push up the prices of products such as China Kweichow Moutai Distillery Co. (600519)’s 106-proof liquor. Moutai, the sorghum- based liquor that Chinese Premier Zhou Enlai used to toast visiting U.S. President Richard Nixon in 1972, sometimes sells for twice the maximum retail price set by the company.

A half-liter bottle of Flying Moutai, the company’s best- selling brand, costs 1,980 yuan ($314), according to the Sam’s Club online shopping website.

The number of protests in China, including strikes and demonstrations, rose to at least 180,000 in 2010, double the number four years earlier, according to Sun Liping, a sociology professor at Tsinghua University.

Wen, due to step down next March after his second five-year term, said yesterday that government agencies must publish detailed information about spending related to car purchases and use, and overseas travel.

State-owned enterprises and financial institutions shouldn’t sponsor events unrelated to their businesses, he said.

The government will also step up supervision of officials whose spouses or children have emigrated abroad, Wen said.

http://www.bloomberg.com/news/2012-03-2 ... ettes.html
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Wed Mar 28, 2012 6:31 am

Dead Brit linked to firm of former spies

A British businessman whose death has prompted calls by London for a probe had done work for a secretive strategic-intelligence firm.

Neil Heywood, 50, died in Chongqing, the city at the heart of China's biggest political drama in years after leader Bo Xilai was dramatically removed from office earlier this month.

"Neil had a long history of advising Western companies in China and we were among those who sought his advice," a spokesman for London- based Hakluyt & Company said.

British media previously reported the company was set up and staffed by former members of British spy agency MI6.

Heywood, whose death was said to be alcohol-related, was rumored to be linked to former Chongqing party chief Bo.


Source: AGENCE FRANCE-PRESSE
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Wed Mar 28, 2012 3:09 pm

China dissident Gao Zhisheng gets jail visit

The brother of prominent Chinese rights lawyer Gao Zhisheng said Wednesday he was allowed to meet with him in a remote jail for the first time in nearly two years, allaying fears for his well-being.

Gao, who has defended some of China's most vulnerable people including Christians and coal miners, was detained in February 2009 and had been held largely incommunicado by authorities except for a brief release in March 2010.

Then in December -- in the first official news about Gao since 2010 -- the state-run Xinhua news agency said the lawyer had been sent to prison.

Judicial authorities subsequently sent a letter to his older brother Gao Zhiyi saying the lawyer was being held in a prison in the remote northwestern region of Xinjiang.

But when he travelled there to visit the activist in January, authorities at the prison refused to let him in, saying Gao Zhisheng was undergoing a three-month period of "education".

According to the Washington-based rights group Freedom Now, which for years has campaigned to free the lawyer, Gao Zhiyi was allowed a 30-minute visit at the prison in Shaya county "several days ago".

Gao's wife Geng He -- who fled to the United States with her two children in 2009 after suffering what she said was constant police harassment in Beijing -- was quoted by the group as saying she was "relieved to hear he is alive".

The United States, the European Union and the United Nations have repeatedly urged Beijing to release Gao Zhisheng.

His troubles began more than five years ago, when he renounced his Communist Party membership and openly called for an end to a crackdown on the banned Falungong spiritual group.

In December 2006, he was convicted of subversion and given a suspended sentence of three years in prison, immediately placed under house arrest and put on probation for five years.

He has openly complained of torture at the hands of police authorities, such as suffering electric shocks to his genitals and cigarette burns to his eyes.


Source:AFP Asian Edition

http://www.newsmeat.com/news/meat.php?a ... &buid=3281
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby tonylim » Wed Mar 28, 2012 6:50 pm

PRC father found used CONDOM in ‘Abbott’ milk powder when feeding baby

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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Fri Mar 30, 2012 6:15 am

Seven Signs China’s Headed for a Recession By Louis Basenese

Here’s a breakdown of the evidence…

http://www.yolohub.com/economy/seven-si ... -recession
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Fri Mar 30, 2012 8:22 am

Three Things You Must Know to Invest in China

Lesson 1: Don’t invest in labor-intensive industries.

Lesson 2: Invest in premium goods.

Lesson 3: Beware of middling brands.

http://www.forbes.com/sites/forbesleade ... n-china/2/
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Fri Mar 30, 2012 6:49 pm

Secret Chinese "Coup" Could Send These Stocks Higher By Keith Fitz-Gerald

Reports of a coup in the past week have startled many long-time China watchers.

Of course, we've seen next to nothing in the Western media about it despite the fact that what is going on behind the scenes now may be the biggest political play we've seen in decades.

Call it a "coup" or a "power play" if you like. Either way, recent events in China suggest the Chinese Communist Party is badly fractured at the very top.

Former Ambassador Jon Huntsman notes that the split may be the most significant since the tumultuous Tiananmen Square era - a sentiment I share based on more than 20 years of involvement with Chinese markets.

http://moneymorning.com/2012/03/30/secr ... ks-higher/
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Sat Mar 31, 2012 11:54 am

China microblogs block users from posting comments

China's two most popular microblogs, Sina Weibo and Tencent QQ, on Saturday blocked web users from posting comments on the sites, saying they were acting to stop the spread of rumours.

The Internet giants said the measure would remain in force until Tuesday. It came just hours after authorities said they had shut down websites they accused of spreading misinformation and made a string of arrests.

China has been strengthening its control of the Internet after being rattled by a flood of online rumours and criticisms.

Groundless rumours of a coup in Beijing began circulating on the Internet earlier in March following the dismissal of political star Bo Xilai.

"Rumours and illegal, harmful information spread via microblogs have had a negative social impact and the comments contain a large amount of harmful information," said a message on Tencent's website.

"From March 31, 8:00 am to April 3, 8:00 am, Weibo's comment function will be temporarily suspended," said Sina, which runs China's most popular microblogging service, Sina Weibo.

Authorities early Saturday said they had shut down 16 websites for spreading rumours of "military vehicles entering Beijing and something wrong going on in Beijing," the official Xinhua news agency quoted a spokesman for the State Internet Information Office as saying.

Six people had also been detained for "fabricating or disseminating online rumours," the State Internet Information Office and Beijing police said, according to Xinhua.


Source:AFP Asian Edition
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Tue Apr 03, 2012 5:56 am

3 Trends to Watch for Global Investors

Below are three additional constructive trends we see in China.

1. China Returns Poised to Revert to the Mean

2. Liquidity Cycle Could Benefit Stocks

3. Incentive to Maintain Growth

http://www.usfunds.com/investor-resourc ... lk/?i=8063
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Re: China - Economic Data & News 07 (Oct 11 - Apr 12)

Postby winston » Mon Apr 09, 2012 7:38 pm

Chinese shares close down 0.90%

Chinese shares closed down 0.90 percent on Monday after data showed a higher-than-expected rise in inflation for March, dealers said.

China's consumer price index -- the main measure of inflation -- hit 3.6 percent in March, official data showed, up from 3.2 percent in February and higher than market expectations of around 3.3 percent.

The government is scheduled to release its gross domestic product figure for the first quarter and main economic indicators for March on Friday.

Banking shares fell across the board after the industry regulator said last week that it had started investigating banks' fee-based business and threatened punishment of those charging high fees.

Property stocks were lower on concerns over developers' first-quarter earnings as the government has shown little sign of easing measures aimed at bringing down home prices.


Source:AFP Global Edition
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