Tag Archives: China

China Gold Output Seen Rising to Record by Mining Group

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“Gold output in China, the world’s largest producer, is poised to rise almost 10 percent this year to a record even as bullion prices slump, the nation’s mining association said. Bullion extended its drop this year to 23 percent and hedge funds cut bets on a rally by the most since February after the Federal Reserve said it may slow a bond-buying program that’s been pumping stimulus into global markets. That hasn’t deterred buyers in the second largest economy, which may pass India as the largest gold consumer as early as this year as regulators in Beijing make investing in the precious metal easier.”

http://www.bloomberg.com/news/2013-06-24/china-gold-output-seen-rising-to-record-by-mining-group.html

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China’s gold imports still at unprecedented highs

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“China will certainly become the world’s No. 1 gold consumer this year – if indeed it was not already.  So far net imports through Hong Kong for the first five months of the year have totalled over 413 tonnes – double those of a year earlier when China imported just over 830 tonnes in the full year.  China’s own gold production from its mines and as a byproduct from its smelting and refining sector exceeded 400 tonnes last year and is heading to between 420-450 tonnes by 2015 according to official estimates.  This suggests Chinese gold imports plus its domestic production will, this year, account for comfortably over 50% of global new mined gold output.”

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=197040&sn=Detail

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Beauty Offshore: A Caribbean Passport For A Chinese Restaurateur

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“When Zhang Lan decided last year to file for an IPO in Hong Kong for her restaurant group South Beauty, she reorganized her holdings under an entity in the Cayman Islands. However, she didn’t just move her company offshore. She did the same to herself, applying for fast-track citizenship in the Caribbean state of St. Kitts & Nevis (pop. 50,000) under an investment scheme. Three months later a passport was delivered to her office in Beijing. In June 2012 Zhang filed for a share offering in Hong Kong as the foreign principal of South Beauty Investment Co. Ltd., a Cayman-registered company that earns its revenues in mainland China.”

http://www.forbes.com/sites/simonmontlake/2013/07/03/beauty-offshore-a-caribbean-passport-for-a-chinese-restaurateur/

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Shanghai sees global status via new free-trade zone

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“Under the plan, endorsed by the State Council on Wednesday, Shanghai is expected to allow companies to freely convert foreign exchange within specified areas of the city while allowing free capital and commodity inflow for the entire city.  Mayor Yang Xiong said Shanghai’s future hinged on the free trade zone, which could give the city a leg-up over rivals.  Shanghai’s ambitions to become the nation’s economic engine, leapfrogging Hong Kong as the dominant financial hub in the region are an open secret. The long-awaited policy incentive granted by the cabinet will only add heft to the city’s attempts to attract global capital and talent.”

http://www.scmp.com/business/economy/article/1275689/shanghai-sees-global-status-free-zone

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Biden urges end to hacking, human rights abuses by China

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“‘We both will benefit from an open, secure, reliable Internet. Outright cyber-enabling theft that US companies are experiencing now must be viewed as out of bounds and needs to stop,’ Biden said.  A recent US study said that corporate America was losing hundreds of billions of dollars a year through a vast, organized hacking campaign to steal US trade, government and military secrets. Biden also raised concerns about human rights, days after Chinese troops reportedly opened fire on Tibetans celebrating the birthday of their exiled spiritual leader, the Dalai Lama.”

http://www.rawstory.com/rs/2013/07/11/biden-urges-end-to-outright-hacking-theft-by-china/

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Pepe Escobar: Towards a Snowden endgame

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“The US Ambassador in Austria, William Eacho, was responsible for spreading the (false) information about Snowden being on board Bolivia President Evo Morales’ Falcon – leading to the denial of overflying rights in France, Spain, Portugal an Italy. Eacho – a former CEO of a food distribution company with no diplomatic experience whatsoever – was appointed by Obama in June 2009. Why? Because he was a top Obama fundraiser.  Eacho did little to disprove those who sustain that the NSA really needs to ‘analyze’ every phone call, email and tweet on the planet – otherwise they could never obtain such pearls of intelligence as pinpointing Snowden on Evo’s plane.”

http://www.atimes.com/atimes/World/WOR-01-090713.html

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Chinese Gold Rush Underway

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“This featured chart depicts the explosion in Chinese gold imports from Hong Kong since January 2012, during which China imported an astonishing 1,206 tonnes of gold – 20% more than the nation’s latest official gold holdings of 1,054 tonnes. In the first quarter of 2013 alone, China imported 372 tonnes from Hong Kong, or nearly what was imported through the entire first half of 2012.”

https://www.hardassetsalliance.com/investing-news/editorial/chinese-gold-rush-underway

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China Now General Motors’ Biggest Market

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“GM and its Chinese joint venture partners saw sales surge by 10.6 percent during the first half of 2013, to nearly 1.6 million vehicles, an all-time record that positions it as the booming Asian nation’s No. 2 automotive manufacturer. It sold just over 1.4 million vehicles in the U.S. during the same period. GM isn’t the only American maker outpacing the growth of the overall Chinese market. Rival Ford set its own record for the first half, with sales surging 47 percent there and demand up 44 percent in June.  While several makers have yet to report their final numbers, it appears that the two American makers significantly outperformed the overall Chinese market.”

http://www.cnbc.com/id/100870316

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Riot after Chinese teachers try to stop pupils cheating

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“Last year, the city received a slap on the wrist from the province’s Education department after it discovered 99 identical papers in one subject. Forty five examiners were ‘harshly criticised’ for allowing cheats to prosper.  So this year, a new pilot scheme was introduced to strictly enforce the rules.  By late afternoon, the invigilators were trapped in a set of school offices, as groups of students pelted the windows with rocks. Outside, an angry mob of more than 2,000 people had gathered to vent its rage, smashing cars and chanting: ‘We want fairness. There is no fairness if you do not let us cheat.'”

http://www.telegraph.co.uk/news/worldnews/asia/china/10132391/Riot-after-Chinese-teachers-try-to-stop-pupils-cheating.html

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Mission Accomplished: China Gets Half of Iraq’s Oil.

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“You may remember the promise of the neocons in 2003: America’s war with Iraq would be paid for by Iraqi oil. Besides, the war would cost only $50 billion — $60 billion, tops. The war cost $2.2 trillion — $3 trillion, tops — and the oil is being gobbled up by China. The story of how China is buying almost half of Iraq’s oil has not gotten much attention. It does not seem to be consistent with President Bush’s war aims. But that’s how the fortune cookie crumbles. The war cost the Chinese government nothing. It is now using its newly printed counterfeit money to buy the oil that it could not legally buy under the Clinton Administration’s oil export restrictions on Iraq.”

http://teapartyeconomist.com/2013/06/04/mission-accomploished-china-gets-half-of-iraqs-oil/

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