Tag Archives: China

Hong Kong Billionaire Brothers Give $350 Million To Harvard University

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“Hong Kong real estate moguls Ronnie and Gerald Chan have pledged a $350 million gift to Harvard University through their charitable foundation, according to a report in the Harvard Crimson.  The gift is the largest in the institution’s history. The university will rename Harvard’s public health school in honor of the brothers’ father. FORBES currently estimates the duo, who run one of China’s commercial real estate giants, Hang Lung Group , to be worth a combined $3.2 billion.  That places them among some of Hong Kong’s wealthiest billionaires. The bulk of their fortune stems main from  shares in publicly-traded Hang Lung, which was founded by their father in the 1960s.”

http://www.forbes.com/sites/chloesorvino/2014/09/08/hong-kong-billionaire-brothers-to-give-350-million-to-harvard-university/

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Bill Bonner: A Secret Only a Tiny Number of Investors Understand

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“‘The last century was America’s century,’ says our Chinese colleague. ‘This is China’s century.’  ‘You know why America was such a success,’ he continued. ‘Because it was a fairly free market with massive domestic demand. Companies could scale up in the highly competitive US market. That would make them larger and more advanced than their foreign competitors. They could then enter foreign markets and easily beat the locals. China is full of new companies. Everything is new. And the internal market is fairly free compared to America. Talk about scale. These companies have massive domestic growth and learning capacity before they have to compete on the world markets.”

http://bonnerandpartners.com/secret-tiny-number-investors-understand/

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Abe’s party loses local vote after Japan’s security policy shift

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“The election in the western prefecture of Shiga was the first high-profile poll since Mr Abe’s cabinet adopted a resolution ending the ban on exercising ‘collective self-defence’, or aiding a friendly country under attack – the most dramatic change in Japanese security policy in decades.  Mr Abe has argued the change is needed to cope with a tough security environment, but the move has stirred angst among many voters wary of entanglement in foreign wars and worried that Japan’s post-war pacifist constitution is being gutted. Tokyo and Beijing have long been at odds over territorial claims and Japan’s military record before the end of the World War II.”

http://www.smh.com.au/world/abes-party-loses-local-vote-after-japans-security-policy-shift-20140714-zt6k1.html

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Ex-U.S. officials hail Japan’s decision on collective self-defense

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“Former U.S. policymakers on Monday welcomed a July 1 decision by the Cabinet of Prime Minister Shinzo Abe to allow Japan to exercise the right to collective self-defense, saying it will invigorate the Japan-U.S. alliance and create firmer deterrence against China’s military buildup and territorial ambitions. ‘Together, the United States and Japan present a partnership that can prevent China from achieving its territorial ambitions through military force,’ it says.  The report calls for integrating China into ‘a rule-based Asia Pacific community’ so as to achieve a more peaceful and prosperous Asia-Pacific region.”

http://www.globalpost.com/dispatch/news/kyodo-news-international/140714/ex-us-officials-hail-japans-decision-collective-self-d

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Bank of China New York opens Queens branch

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“Bank of China opened its newest New York branch in Flushing, Queens, home to the second-biggest Chinese and Chinese American population in New York City, relocating its Chinatown branch from Manhattan.  Bank of China opened its first US branch in New York in 1981 and has four American branches, two in New York, one in Chicago and one in Los Angeles.  At the opening ceremony on Friday were Sun Guoxiang, consul general of the People’s Republic of China in New York, Zhu Shumin, executive vice-president of Bank of China, Grace Meng, US congresswoman, and Peter Koo, New York City councilman.”

http://usa.chinadaily.com.cn/2014-06/30/content_17620960.htm

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China Banks Boost Precious Metals Hoard Amid Lease Demand

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“The value of precious metals held by China’s biggest lenders surged 66 percent from a year ago as banks lease more gold to customers because tighter borrowing rules make it harder to lend funds.  The growth since last year outpaced the gain in benchmark bullion prices, which rose 7.5 percent over the same period.  China is seeking to rein in credit by raising borrowing costs and cutting off lending to sectors considered at risk of default amid a property slump and rising number of bad loans. That’s prompting banks to hold more precious metals as they expand their gold-leasing business because it’s not subject to loan caps and is considered off-balance sheet lending, according to Industrial Bank Co.”

http://www.bloomberg.com/news/2014-09-01/china-banks-boost-precious-metals-hoard-amid-lease-demand.html

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Venezuela’s newest shortage: breast implants

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“Beauty-obsessed Venezuelans face a scarcity of brand-name breast implants, and women are so desperate that they and their doctors are turning to devices that are the wrong size or made in China, with less rigorous quality standards.  Venezuelans once had easy access to implants approved by the U.S. Food and Drug Administration. But doctors say they are now all-but impossible to find because restrictive currency controls have deprived local businesses of the cash to import foreign goods. It may not be the gravest shortfall facing the socialist South American country, but surgeons say the issue cuts to the psyche of the image-conscious Venezuelan woman.”

http://bigstory.ap.org/article/venezuelas-newest-shortage-breast-implants

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New ‘Anti-Terror’ Checks On Beijing’s Subway Cause These Lines

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“Beijing’s subway network is the busiest in the world, with commuters taking about 10 million rides a day throughout nearly 200 subway stations.  These commuters, who already deal with massive traffic jams, overcrowded public transportation, and air so filthy that biking or even walking to work is often not an option, are experiencing a new obstacle: airport-style security at major subway stations.  On Saturday, Beijing tightened security checks at subway stations following an attack in China’s troubled Xinjiang region which killed 31 people.  Check out the massive lines during rush hour at Beijing’s Tiantongyuan North Station.”

http://www.buzzwok.com/new-anti-terror-checks-on-the-beijings-subway-cause-lines-like-nothing-youve-ever-seen/

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Alibaba files to sell up to $24.3 billion in stock, biggest US IPO ever

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“Chinese e-commerce giant Alibaba on Friday filed to sell up to $24.3 billion in stock, making it the biggest technology listing in the United States.  The intended deal size would make the Chinese e-commerce company the biggest IPO in U.S. history, followed by Visa, ENEL SpA, and Facebook, according to Renaissance Capital. Alibaba accounts for about 80 percent of all online retail sales in China, where rising Internet usage and an expanding middle-class helped the company generate gross merchandise volume of $296 billion in the 12 months ended June 30.”

http://www.cnbc.com/id/101976122

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Bill Bonner: What I Learned in China About the Fate of the US Dollar

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“‘China is the nation to watch,’ begins a Beijing colleague.  It is already the biggest trading nation in the world. And it will soon pass the US as the world’s biggest economy. But what is really important is that it will also overtake the US in two other important categories: military power and money.  Now, the US is making a show of supporting the nations around China… as though it could stop China by teaming up with the Philippines and Japan.  This is like the early 19th century, when France tried to get all of Europe to unite against Britain, the rising power of that era. It didn’t work… You can’t stop a nation whose time has come. And China’s time is coming.'”

http://bonnerandpartners.com/learned-china-fate-us-dollar/

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