Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 349

Posts Tagged ‘chinese’

Chinese investment in Europe falls to 10-year low in 2020 – FDI activity fails to recover in 2021

Posted by fidest press agency su venerdì, 18 giugno 2021

As the Covid-19 pandemic hit in 2020, concerns grew that the economic slump might trigger a round of Chinese distressed asset buying worldwide. So far, these fears have proven mostly unfounded. China’s global outbound merger and acquisition (M&A) activity dropped to a 13-year low in 2020, with transactions totalling around EUR 25 billion, down 45 percent from 2019. The same was true of Chinese foreign direct investment (FDI) in the European Union and the UK. Shrinking M&A activity meant Europe saw a 45 percent decline in completed Chinese foreign direct investment last year, down to EUR 6.5 billion from EUR 11.7 billion in 2019. This took Chinese investment in Europe to a 10-year low. Greenfield investment held up better, reaching its highest level since 2016 at nearly EUR 1.3 billion. These are the key findings of the joint report by Rhodium Group and MERICS: “Chinese FDI in Europe: 2020 Update” by Agatha Kratz (Rhodium Group), Max J. Zenglein (MERICS), Gregor Sebastian (MERICS). The “Big-3” – Germany, the UK and France – reclaimed their top spots, with Germany at the helm. While it remained in third place, the UK saw Chinese FDI fall 77 percent. Poland emerged as a key recipient in 2020, pulled up by one major acquisition. Because small- and mid-size transactions dominated in 2020, Chinese investment was spread more evenly across sectors than in 2021. Infrastructure, ICT and electronics took the top three spots. State-owned enterprises (SOEs) represented 18 percent of total Chinese FDI to Europe, increasing their share but keeping absolute investment flows stable. In contrast? Private investment plummeted 50 percent. Despite a global turnaround in the first quarter of 2021, Chinese FDI faced greater scrutiny by EU member states: 14 member states, including Italy, France, Poland and Hungary, updated their FDI screening mechanisms last year, and member states moved to block several acquisitions by Chinese firms.Chinese FDI activity in Europe continued to fall in the first quarter of 2021. Europe remains an attractive investment location, but persistent disruption from Covid-19, high barriers to outward capital flows in China and rising regulatory barriers to foreign investment in Europe have all contributed to low levels of Chinese investments. Deteriorating EU-China relations could create important additional headwinds for Chinese investors going forward.

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Chinese Ming Dish Sets Record Hammer Price at Bruun Rasmussen

Posted by fidest press agency su venerdì, 4 giugno 2021

A Chinese Ming porcelain dish achieved a hammer price of a staggering DKK 46.2 million / EUR 6.2 million / USD 7.6 million (including buyer’s premium) when it was sold at auction at the Danish auction house Bruun Rasmussen on Wednesday afternoon on 2 June. It therefore also became the most expensive lot ever sold in the history of the auction house and the most expensive piece of Asian decorative art ever sold in Scandinavia. The beautiful and approximately 600-year-old antique dish comes from a prominent private collection by the Swede Salomon Sörensen (1856-1937), who for three decades worked as Malmö’s city architect and designed and built more than 100 buildings in the city with inspiration from the Renaissance period and the city of Florence. Sörensen was a passionate collector of Chinese and Japanese decorative art and had an enormous knowledge within this field. The motif on the dish is quite imaginative: A scaly dragon twists and turns in a rolling sea surrounded by lotus flowers. The dragon as a motif has been used in Asia for centuries, and the mythological creature is often depicted as a mixture of different animal species with, for example, a snake’s body and a lion’s head. In Chinese mythology, it is associated with happiness, nobility and strength – traits that are far removed from the legends of the Western world about dragons as frightening, fire-breathing monsters. The three-clawed version of the dragon that we encounter on this dish has traditionally been associated with nobility, where the imperial dragon is always depicted with five claws. Bruun Rasmussen Auctioneers is one of Scandinavia’s leading international auction houses, and one of Denmark’s oldest. It all started on 6 October 1948, when Arne Bruun Rasmussen conducted the first traditional auction in the saleroom at Bredgade 33 in Copenhagen. Today, Jesper Bruun Rasmussen stands at the helm of the family-run business together with the third generation of the family, his son Frederik and daughter Alexa, and the company’s CEO Jakob Dupont.

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“Chinese Emperors’ Imperial Wonderland”

Posted by fidest press agency su martedì, 3 settembre 2019

Tmall Culture under the global Internet giant Alibaba, in conjunction with the Publicity Department of the CPC Beijing Committee, and China Cultural Tourism and Creativity, hosted “Chinese Emperors’ Imperial Wonderland”, which recreated an immersive experience of the fairyland of the Summer Palace and the 12 bronze Chinese zodiac statues from the Old Summer Palace, at Hôtel Salomon de Rothschild in Paris. The grand overseas debut of Tmall Culture captivated Paris with its Chinese flavor. It is reported that Tong Zhiwei, Deputy Minister of the Publicity Department of the CPC Haidian District of Beijing Committee, Li Shaoping, Cultural Counselor at the Chinese embassy in France, and Di An, General Supervisor of Tmall Home Textiles, were present at the opening ceremony. The Deputy Mayor of Tours, which has the reputation of “the garden of France” because of its numerous royal gardens and castles, was a special guest at the exhibition. He extended his warm welcome to the exhibition for cultural exchange on gardens.An eye-catching feature of this art exhibition was the royal-garden-themed cultural and creative products developed by Tmall Culture. During recent years, cultural and creative products have rapidly become a booming business in China. As the largest B2C trade platform worldwide, Tmall is increasing its investment in the cultural and creative industry. Tmall is daily becoming a bridge by which globally renowned museums and art institutions gain access to the Chinese market. Recently, Tmall Culture 2.0 was announced, planning to enable all museums worldwide to open stores on Tmall in 3 years, and to help them to undertake trans-boundary cooperation with 10,000 brands, in order that one billion people may become consumers of cultural and creative products. Currently, 24 well-known museums worldwide have opened their stores on Tmall, on which over 2400 brands have participated in this flourishing business.This year also marks the 55th anniversary of the establishment of diplomatic ties between China and France. Tmall Culture made its international debut in a cultural capital such as Paris in order to facilitate both cultural and commercial exchange between China and France.

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Chinese philanthropic giving has quadrupled since 2009

Posted by fidest press agency su sabato, 13 aprile 2019

The growth of personal wealth in China has sparked a surge in philanthropy in the world’s second-largest economy, with total giving quadrupling since 2009 to hit US$23.4 billion in 2017, according to new research from the Rockefeller Foundation and the Asian Venture Philanthropy Network.China has the world’s largest concentration of billionaires—819—and its second-highest number of millionaires, as runaway economic growth over the last two decades has spurred on rapid wealth creation. Personal wealth in China has grown on average by 1,300 per cent this century.Wealthy Chinese people are increasingly engaged on social and environmental issues, and are more engaged on global issues than previous generations, driving new investments in social outcomes, the AVPN said, while the Chinese government has lowered the regulatory barriers for registering some foundations and charities, making it easier for wealthy donors to establish their own philanthropic organisations. (font: Global Initiatives 133 Cecil St, #17-02A, Singapore)

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Giant Chinese state investment fund drops coal

Posted by fidest press agency su domenica, 31 marzo 2019

China’s State Development and Investment Corp, a sovereign wealth fund with more than US$200 billion in assets under management, has announced that it will cease investments in coal power in favour of renewable energy. The announcement, made to Chinese reporters and confirmed by the Australian Financial Review, tracks a national policy of attempting to shift the country onto a cleaner energy track to reduce both emissions and air pollution in its major cities.The SDIC’s move brings it in line with other major investors—including banks, investment funds and state bodies, from the Norwegian sovereign wealth fund to the city of New York—who have reduced their exposure or entirely divested from coal and other hydrocarbons. Last September the investment firm Arabella Advisors estimated that investors representing more than US$6 trillion in assets under management had now divested from fossil fuels.

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Chinese Startup Takes Parallel Approach to Become the Blockchain of the World’s Choice

Posted by fidest press agency su domenica, 17 marzo 2019

From telecommunication to the Internet, China now fully recognizes the vital role that technological sovereignty plays in international competition. Blockchain as the technology underpinning Web 3.0 and Industrial revolution 4.0, is enlisted in China’s strategic planning of informatization in spite of the domestic crypto ban. An Australian ICT report shows half of the blockchain patents worldwide last year were applied by Chinese firms such as Alibaba, Baidu, Tencent, etc.Among the big names, some Chinese internet veterans also re-embark on the entrepreneurial journey with blockchain. Shi Xinguo, an operating system expert who led the development of the Chinese version of Linux “Red Flag”, started a small team to develop blockchain three years ago. Now with his patented parallel blockchain technology, he claims that it is time for blockchain to really take off.Early this March, Shi and his team released a blockchain platform called Paralism aiming to support all the businesses and assets worldwide with parallel technology. The platform now has four decentralized applications (DApps) on it covering industries of cosmetics, mobile payment, instant messaging and international trading. None of the above DApps haven been officially promoted to the public yet.There’s little denial to the great potential of blockchain technology, however, it seems that blockchain has presented nothing more than a filibuster to this point. No matter China or other countries, no matter big companies like IBM, Alibaba or grass-root companies like Ethereum, no one has been quite able to bring about the large-scale commercial adoption of blockchain. One of the fundamental reasons lies in the incompetence of blockchain to scale and to connect with each other.Shi Xinguo and Paralism chose to stay quiet for three years because Shi believes they have mastered the true key to solve the problem of scalability and interconnection of blockchain. Many efforts have been paid to solve the above problems: Ethereum has proposed a sharding solution called Casper setting to realize after 2020; EOS has released its mainnet designed to reach one million TPS (transaction per second) but only delivering several thousand; IOTA came up with DAG but struggling to justify it as true blockchain; many others try to improve TPS using PBFT consensus but overlooked that this protocol is more suitable in a half-decentralized situation like consortium chain.According to Shi, parallel blockchain is the only way out – “the must-followed path” – for blockchain to scale and to become inter-connected. “The data structure of traditional blockchain is sequential. This means blocks have to be produced one by one, no matter how fast you improve TPS, blockchain can never scale with single chain,” Shi said.
As Shi explains, under parallel data structure, multiple chains can co-exit and multiple blocks can be produced simultaneously enabling the system to process the large-scale transactions. Sub-chains can also conduct dynamic sharding as the volume of transactions grow and therefore becomes infinitely scalable which is what Ethereum’s Casper thrives to achieve. The parallel blockchain system is also said to be equipped with the natural cross-chain transaction solution allowing businesses to interoperate and value to transmit between chains changing blockchain from isolated chains to a universal blockchain web. Also, for each sub-chain, users can customize the local consensus to tailor to its business hence adding flexibility.The parallel blockchain technology is already granted with the patent authorization from the National Intellectual Property Administration of PRC. With the core parallel technology and the above features, the Paralism platform can support rapid DApps, blockchainization and tokenization, existing ICOs, coin self-issuance, stable coin and decentralized exchange.Up until now, the parallel blockchain technology is only being tested by limited users. As for Paralism, although facing risks, some blockchain pioneers have started their application experiment on the platform. Is this Chinese start-up Paralism and its parallel technology really a stepping stone for the whole blockchain future, or is it another attempt of proof of concept? We can only wait and see.

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Fine Chinese Ceramics & Works of Art

Posted by fidest press agency su domenica, 28 ottobre 2018

London – On 6 November 2018, Christie’s Fine Chinese Ceramics & Works of Art auction will present an array of rare works of exceptional quality and with important provenance, many offered to the market for the first time in decades. The season will be highlighted by exquisite imperial ceramics, fine jade carvings, Buddhist art, huanghuali furniture, paintings from celebrated modern Chinese artists, along with works of art from a number of important collections, including The Soame Jenyns Collection of Japanese and Chinese Art. The works will be on view and open to the public from 2 to 5 November.
The auction will be led by a moonflask, Bianhu, Yongzheng six-character seal mark in underglaze blue and of the period (1725-1735) (estimate on request). This magnificent flask is exceptionally large, and takes both its form and decoration from vessels made in the early 15th century. The Yongzheng Emperor was a keen antiquarian and a significant number of objects produced for his court were made in the antique style, particularly blue and white porcelain, and so their style was often adopted for imperial Yongzheng wares in the 18th century. The vessel is decorated with stylised floral scrolls and a pair of elegant strap handles, each decorated with flowers and foliage, terminating in ruyi heads.The sale will be highlighted by important works of art from the collection of the late Soame Jenyns which will be presented across the Fine Chinese Ceramics and Works of Art sale, alongside an online sale which runs from 1 to 8 November. Soame Jenyns (1904-1976) was a legendary figure in the field of Chinese and Japanese art. He was an esteemed British art historian, collector and connoisseur and worked at the British Museum authoring several seminal books on East Asian art. The collection was built throughout his lifetime and will be led by a gilt-bronze figure of Avalokiteshvara (1426-1435) (estimate £150,000-200,000). It is engraved with a six-character inscription, which can be translated as ‘Bestowed [during the] Xuande era [of the] great Ming’. The figure perfectly reflects the connoisseurship of Soame Jenyns. Radiological examinations of the figure have revealed small consecratory objects: a miniature scroll, various textile fragments and beads. It is rare for the base plate of such an old bronze to be intact and confirms that the figure had been consecrated in a Buddhist ritual. Both aspects are highly appreciated by collectors of Buddhist bronzes. Further highlights of the collection include a rare famille verte ‘Yu Tang Fu Gui’ teapot (estimate: £20,000-40,000), an elegant and fascinating tribute to the skills of porcelain decorators at the imperial kilns in the early Yongzheng reign; and a ‘peony’ ogee-form bowl and cover (estimate: £10,000–15,000), likely to have been made in the early 18th century within the Imperial Palace Workshops in the Forbidden City. Painted enamel was a European technique, which was introduced to China in the Kangxi period (1662-1722). The bowl emphasises the technical sophistication in the workshops and the cultural and artistic exchange between China and Europe in the 18th century.In addition to the live auction, The Soame Jenyns Collection of Japanese and Chinese Art online will offer a superb selection of Japanese lacquer and porcelain including a rare and important Kutani fan box, dating to the Edo period (mid-17th century) (estimate: £20,000-30,000), alongside Kakiemon and Arita ceramics and porcelain from the Ming and Qing dynasties including wucai, blue and white, and enamelled ceramics.The highlight of the jade offering comprises the collection of Chinese hardstone carvings from the late John Pearce (1918-2017), purchased from the renowned Chinese art dealer, T. Y. King, in the 1950s and 1960s. Born into a family with a rich Hong Kong heritage, John Pearce was appointed an MBE (Member of the Order of the British Empire) by George VI for his intelligence work during the Second World War. He was a prominent businessman and became a noted bloodstock breeder and racehorse owner. For forty years he lived at the Hong Kong Mandarin Oriental hotel, where he amassed an impressive collection of art. The collection is led by a large white jade cranes group from the Qianlong period (1736-1795) (estimate: £30,000-50,000). Skillfully executed as a larger and a smaller crane grasping a leafy peach branch, the details of their feathers are finely incised. The imagery of cranes and peaches portrays a wish for longevity, with both symbols closely associated with the Immortal, Shoulao, the God of Longevity. In Chinese mythology, peaches give long life to whomever consumes them, and hence are heavily featured in imagery associated with Immortals and other legendary figures. The collection also presents a greenish-white jade ‘Mythical Beast’ vase (estimate: £15,000–20,000). Dating to the 18th century, the impressive vessel is carved as a baluster vase which forms the body of a bixie, considered to have the power to dispel evil. Additional works from the collection include a greenish-white jade square-section brush pot, Bitong, 18th century (estimate: £10,000–15,000). Standing on four ruyi-form feet, each side is carved with a panel depicting a different scene of a seated scholar in a pavilion, a cowherd, a fisherman, and a farmer, all in a natural landscape.A magnificent sancai and blue-glazed pottery figure of a guardian warrior dating to the Tang Dynasty (618-907) (estimate: £150,000 – 250,000) will also be offered. The guardian is modelled with an unglazed head, bearing a fierce expression. These large sancai tomb figures were the preserve of the Tang elite, and indeed some of the kilns producing them have been linked to the court. The current figure would have been particularly valuable since it has been decorated with a generous amount of blue glaze. In Tang times the cobalt used to create the blue glaze was imported into China and was expensive and used sparingly, unless the family commissioning the sancai ware belonged to the highest echelons of society.The sale will also present outstanding examples of huanghuali furniture including a rare pair of huanghuali horseshoe-back armchairs, Quanyi, (17th to 18th century) (estimate: £100,000-200,000), alongside important archaic bronzes and works by leading modern Chinese painter Qi Baishi (1863-1957).

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New Exam for Chinese Supply Chain Professionals Announced at APICS 2018 Conference

Posted by fidest press agency su lunedì, 1 ottobre 2018

APICS, the premier professional association for supply chain management, and the China Federation of Logistics & Purchasing (CFLP), the only logistics and purchasing industry organization in China, announced their continuing collaboration, including work on a new joint educational resource in Simplified Chinese. Starting in 2019, candidates will be able to buy the CPIM Part 1 – China courseware and exam bundle. This announcement was made at the annual APICS 2018 supply chain conference.APICS worked closely with CFLP to offer the CPIM Part 1 courseware and exam in Simplified Chinese, making study materials accessible to candidates in their native language and enabling a new pathway to APICS certification in China. More than 112,000 supply chain professionals around the world have earned the CPIM certification since it was introduced in 1973.“With CPIM Part 1 – China, professionals and organizations have new, expanded access to APICS education, which elevates global supply chain standards,” said APICS CEO Abe Eshkenazi, CSCP, CPA, CAE. “Top supply chain employers worldwide now prefer applicants with APICS certifications. Together with CFLP, we are making the exam and certification more accessible for this key market. We look forward to our continuing collaboration with CFLP and driving further supply chain industry successes.”“As the national platform of logistics, purchasing and supply chain management industries, CFLP’s deep collaboration with APICS will push the boundaries of professional development in production, inventory control and operation management for the industry in China,” said CFLP Vice President Haoxiang REN.To earn the CPIM certification, candidates must pass two exams within three years, including CPIM Part 2 in English. Those who have earned the credential are required to maintain the designation every five years. APICS offers a variety of resources to build candidates’ knowledge of the supply chain material and support exam preparation.

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Poetry of the Flow Yahon Chang

Posted by fidest press agency su mercoledì, 13 giugno 2018

Palermo 17 June – 19 August 2018 Inauguration 15 June 2018, 6pm – 8pm Sala delle Armi, Palazzo Chiaramonte-Steri Poetry of the Flow Yahon Chang Curated by Maria Rus Bojan Collateral event at Manifesta 12 in Palermo. In the exhibition Poetry of the Flow, Taiwanese artist Yahon Chang’s site-specific installation converts the monumental space of the Sala delle Armi in Palazzo Chiaramonte-Steri into an interactive environment, tackling philosophical, spiritual and existential issues that revolve around the contemporary human condition. Employing Chinese ink painting techniques, Poetry of the Flow shows multiple large-scale ink paintings that cover the entirety of the exhibition space that surround the viewer. Over the last 2,000 years, Palermo has been occupied by numerous European countries and has long-term connections with North Africa and the Eastern Mediterranean. The artist draws inspiration from the social context of the city which hosts Manifesta 12, with its lavish historical, syncretic and cultural values.Ink painting and calligraphy have been an integral part of Chinese literati culture for thousands of years. Chang uses these classical techniques and aesthetics to create a new language that is relevant to a contemporary society. Rather than focussing on the process of creation, the artist works similarly to the western art movement Expressionism whereby the artworks are expressive of the artist’s inner feelings or ideas.Creating an open and performative element, the artist involves visitors and the local community with the exhibition by inviting them to daily workshops at his temporary studio on via Pantelleria during the vernissage week. He will be teaching Chinese calligraphy as well as how to paint on traditional lanterns.
The artist integrates local materials through painting on bedsheets acquired in Palermo, which are hung in the outdoor garden of his studio. This mirrors the urban landscape within the city, where citizens hang their laundry on balconies in abundance. The combination of the large-scale Chinese ink paintings and paintings on locally sourced bedsheets comments on the layering of histories that have saturated the city for thousands of years. Chang creates a bridge between his own culture and the multicultural Palermo.

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Chinese party-state media see European crises as sign of failing “Western values” – EU should work on its image

Posted by fidest press agency su mercoledì, 13 luglio 2016

pechinoThe European Union’s crises have damaged the positive image of the continent in China. The Brexit vote disrupted many Chinese commentators’ sympathetic view of the EU as a shining example of political continuity. Many Chinese media see the EU’s failure to deal with the refugee crisis and terrorist attacks as the result of a lack of unity and force. The EU should react to this image crisis, since it threatens to compromise its ability to act vis-à-vis a powerful player like China, say the authors of an analysis presented in Brussels on Tuesday (12 July).In a paper titled “Questioning not the EU, but the ‘Western System’”, researchers Jasmin Gong, Bertram Lang, and Kristin Shi-Kupfer of the Berlin-based Mercator Institute for China Studies (MERICS), point out that Chinese state media in particular instrumentalize the difficult situation in Europe to denounce “Western values” as a whole. Chinese diplomats use crisis situations like the massive influx of refugees into the EU to refute criticism of the human rights situation or political repression in China.The analysis, published as a part of the series MERICS China Monitor on Tuesday, is based on a quantitative review of about 75,000 articles published in party-state media like “People’s Daily”, market-oriented outlets like “Southern Weekly” as well as social media like Sina Blog or Sohu Blog. The researchers also scrutinized 300 opinion pieces on developments in the EU, such as the Greek debt crisis, the refugee crisis, the rise of right-wing populism, terrorist attacks in Europe, and the Brexit referendum. The resulting picture is mixed: Roughly a third of all analysed opinion articles (34%) portrayed the crises as challenges to EU unity. At the same time, most commentators expressed confidence that political stability could be maintained despite, for instance, a looming “Brexit”.Analysis also revealed different takes on Europe in different types of media: party-state media tend to view the problems of dealing with the crises as proof of Europe being in a state of decay. In their analysis, European crises indicate the “weaknesses and falsehood of ‘Western values’”. This judgement falls in line with recent ambitions of the Chinese party state to denounce deficiencies of democratic systems and demonstrate the superiority of Chinese political concepts. Commentators of market-oriented and social media paint a more differentiated picture of the situation in Europe.
“The domestic media discourse is a better early indicator of potential changes in Chinese attitudes towards Europe than official diplomatic statements,” the MERICS researchers conclude. They advise EU policymakers to capitalize on the “persisting goodwill and genuine interest in Europe in non-official Chinese media” and take more efforts to “communicate an authentic and honest assessment” of Europe’s challenges. 12,30

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International conference with leading China scholars

Posted by fidest press agency su venerdì, 17 giugno 2016

berlinoBerlin. From June 24 to 25 June in Berlin, MERICS will host an international conference with leading China scholars to discuss changes in Chinese leadership style, structures and processes since 2013. Since Xi Jinping took the reins of the Chinese Communist Party and as President of the People’s Republic of China, the country’s domestic and foreign politics have undergone considerable changes. China has become more assertive as an international actor. It has launched new diplomatic initiatives centring on large infrastructure projects, while at the same time contributing to tense relations with many of its neighbouring countries. At home, several pieces of security-related legislation have further constrained the activities of both domestic as well as foreign civil actors.Participating scholars’ expertise covers a wide variety of issue areas, ranging from economic policy making to cyberspace politics, and from societal control to military modernization. The conference participants will share their expertise in the form of concise essays, which MERICS will publish as an essay collection: the MERICS Paper on China No. 1 – “China’s core executive: leadership styles, structures and processes under Xi Jinping”.This essay collection offers the most comprehensive, authoritative and up-to-date account of the changes to China’s core executive under Xi Jinping through its analysis of developments in different policy areas. One observation is dominant – China has moved in further in the direction of top-down, autocratic policy making. The authors – among them renowned experts such as Roderick Mac Farquhar, Barry Naughton, Joseph Fewsmith, You Ji, Victor Shih, and Anthony Saich – discuss the effects of this on current policymaking and policy outcomes, as well as offering a thought-provoking look into the future. What happens if Xi Jinping fails with his overall reform agenda? What if he succeeds in strengthening the control of the party and in restructuring the Chinese economy? Will China’s IT-backed authoritarianism act as a model and spread to other countries, challenging Western democratic modes of governance? Whatever the future holds, such developments will have implications not only for China, but for all its close economic and political partners. (Kerstin Lohse-Friedrich Director of Communications MERICS, Berlin)

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Expert comment on trading suspended on the Chinese stock market

Posted by fidest press agency su venerdì, 8 gennaio 2016

pechinoKamel Mellahi, of Warwick Business School, is a Professor of Strategic Management and researches business in China comment on trading suspended on the Chinese stock market. Professor Kamel Mellahi said: “The efficacy of the circuit breaker is questionable in a highly volatile environment driven by a herd mentality. It does not seem to be having the expected effect. It looks like it’s generating more panic rather than a pause for reflection and objective assessment. “Chinese policymakers are stuck between a rock and a hard place and have no easy solutions. The yuan has risen against its major global currencies, chiefly because it was pegged against the US dollar, making Chinese exports more expensive.”Using currency depreciation to stimulate growth is a double-edged sword. A weaker yuan will help boost the country’s sagging exports and help economic growth, but it will also increase the risk of capital flight out of China, making investment in the stock market less attractive, and increase the cost of imports. “The Chinese economy is going through a very delicate transition which requires a lot of difficult adjustments. Therefore these wild swings in the Chinese stock markets are expected and investors have to get used to them. The Chinese stock markets are set for choppy waters and share prices will continue to see-saw as China seeks to recalibrate its economy while keeping economic growth on track.
“Retail investors, which account for a large portion of stock market trade in China, are not in it for the long haul and are prone to panic. It is to be expected that they react to short-term blips about the health of the Chinese economy. A weaker yuan also makes it unattractive for them to own shares. I think we are going to see more of these stampede type sell-offs driven by a herd mentality in the months to come.”The volatility in the Chinese stock markets may have some short-term impact on global stock markets, but in the medium and long-term the impact is going to be felt mainly in China.”I expect the Chinese government to intervene strongly and publicly to prop up share prices. This will undermine its pledge to let market mechanisms have more influence, but perhaps more importantly, it needs to focus on the management of economic reforms to rebalance its economy. One needs to keep in mind that the stock market fluctuations harm the reputation of the Chinese economy but they are not a true reflection of the Chinese economy.”

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Chinese Contemporary Artist Zhuang Hong Yi at Unit London

Posted by fidest press agency su mercoledì, 2 settembre 2015

Zhuang Hong YiZhuang Hong Yi, RAW, 18 September – 17 October 2015 exhibition of recent works by Chinese contemporary artist Zhuang Hong Yi at Unit London. For the inaugural show at its new Wardour Street space, Unit London is proud to present RAW, an exhibition of recent works by leading Chinese contemporary artist, Zhuang Hong Yi.With a celebrated career spanning nearly three decades, Zhuang Hong Yi has achieved international acclaim with works that explore his mixed cultural heritage. Born and raised in Sichuan, China and currently based in between his Rotterdam and Beijing studios, Yi has had over 30 international solo exhibitions and his work has been selected for important shows at major venues including the Found Museum Beijing, China; the Groninger Museum, The Netherlands; and in Venice, Italy in conjunction with the 55th Venice Biennale (2013).Founding Directors Joe Kennedy and Jonny Burt comment:“RAW will present a breathtaking new body of work by Zhuang Hong Yi, and will be particularly exciting as it is his first major solo show here in the UK. Zhuang is an internationally-renowned and critically-acclaimed artist, and the scale of this exhibition is unlike anything we have previously staged. RAW will present some of Zhuang’s best work to date, and reflects Unit London’s fearless ambition to showcase and celebrate the finest international talent here in the heart of London.”Yi uses traditional Chinese materials to produce vibrant, textural paintings with strong allusions to the European Impressionist movement. The flower is a recurrent motif throughout Yi’s work, and carries strong cultural resonance in both China and Holland. Central to Yi’s artistic oeuvre, the fascination with the floral form echoes Monet’s own focus of artistic production in the latter years of his life, and one can draw parallels between both artists’ works.Yi manipulates thousands of rice paper flowers, which he then combines with layers of oil and acrylic to create large-scale fields of petals on canvas that sing with colour. Meditations on nature and form; the bold, sculptural paintings fuse traditional Chinese artistic practices with a contemporary abstract aesthetic. His work is held in several public and private collections, with notable collectors including Nick Woodham, King Mohammed VI of Morocco, King Hamad bin Isa Al Khalifa of Bahrain, the Al Nahyan royal family of Abu Dhabi and Queen Margrethe II of Denmark.(photo:Zhuang Hong Yi)

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NATO Commander meets Korean and Chinese Counterparts in Gulf of Aden

Posted by fidest press agency su martedì, 1 Maggio 2012

GULF OF ADEN (Nov. 12, 2009) The guided-missil...

GULF OF ADEN (Nov. 12, 2009) The guided-missile cruiser USS Chosin (CG 65) conducts counter-piracy operations in the Gulf of Aden. Chosin is the flagship for Combined Joint Task Force 151, a multinational task force established to conduct counter-piracy operations off the coast of Somalia. (U.S. Navy photo by Mass Communication Specialist 1st Class Scott Taylor/Released) (Photo credit: Wikipedia)

London Last week, Rear Admiral (LH) Sinan Azmi TOSUN, Commander of the NATO Counter Piracy Mission Operation Ocean Shield, met with his counterparts, ROK Naval Escort Task Group Commander Captain KIM Eunsoo and Chinese Task Force Commander Rear Admiral YANG Jun-Fei on the 25th and 27th of April respectively. Republic of Korean Navy and Chinese PLA Navy have supported the counter piracy efforts by providing escorts to the merchant vessels passing through the region. During these warm and constructive meetings, the Commanders had the opportunity to share information and experiences about their counter piracy operations, learn of each other’s capabilities and also discuss matters of mutual concern regarding how to support each other. Speaking about the visits, Rear Admiral (LH) Sinan Azmi TOSUN said “I had a chance to meet both Commanders’ predecessors and this was another opportunity for me to meet my counterparts at sea. Having shared our experiences during the first visits, I am pleased to see how useful these kinds of face-toface meetings are to improve the situational awareness and experience amongst counter piracy forces. I am pretty sure that we will further continue to expand and deepen our cooperation and interaction to tackle piracy in the region.”

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Chinese Automaker Great Wall Motor Co Ltd Opens First European Plant in Bulgaria

Posted by fidest press agency su venerdì, 24 febbraio 2012

London. “Setting up production in Bulgaria is clearly a long-term strategic move for China’s Great Wall Motors which will open a door for locally manufactured cars to be exported to the rest of Europe tax-free. And there is little doubt it will find its customers, if safety and quality standards continue to improve, even though other car manufacturers like Mitsubishi stop car production in Europe due to tough auto market conditions. The bigger question is: what are the benefits for Bulgaria? Short-term benefits are quite obvious and quantifiable, such as new jobs and tax revenues. However, long term benefits are less clear.Since an initial assembly is expected to be done using SKD kits (semi-knocked down), relatively low value will be created in Bulgaria. However, a future possible extension towards CKD (complete knock down) production and the localisation of certain component production (and therefore, securing higher value production in Bulgaria) might face several challenges, as Bulgaria does not have an extensive automotive supplier base (only 18 ISO16949 certified suppliers vs. 436 in Poland by the end of 2008). Usually, the development of a supplier base is triggered by an increasing vehicle production. Generally, a business case for suppliers is created when a profitability threshold is reached which is directly linked to vehicle production volumes. When 100,000 cars are produced annually, a business case for low-value added suppliers (such as gaskets, bearings, simple plastic components) is created. However higher value-added suppliers business (seat, exhaust systems) becomes profitable, when vehicle production hits the 200,000 mark, while high-value added suppliers (powertrain components, chassis components) require production of 500,000 vehicles. Given the current plans to produce a maximum of up to 70,000 cars a year from Great Wall Motors, Bulgaria will face challenges developing its supplier industry. Yet, focusing on alternative mobility solutions (such as electric vehicles from the Chinese automaker which can be produced in small volumes in 2012 already) and electrical/electronic components (batteries, motors and control electronics) manufacturing could help Bulgaria to become a new country on the automotive manufacturing map of Europe.”
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Nato Commander meets Chinese Counterpart in Gulf of Aden

Posted by fidest press agency su sabato, 21 gennaio 2012

English: GULF OF ADEN (Nov. 12, 2009) The guid...

Image via Wikipedia

Rear Admiral (LH) Sinan Azmi TOSUN, Commander of the NATO Counter Piracy Mission Operation Ocean Shield, met with his Chinese counterpart Rear Admiral LI Shihong. They paid reciprocal visits to each others’ flagships on the same day while the Chinese Task Group ships were escorting a convoy and the NATO flagship, TCG Giresun was patrolling through the Gulf of Aden. During these warm and constructive meetings both Commanders had an opportunity to share information and experiences about their counter piracy operations, learn more of each other’s capabilities and also discuss matters of mutual concern in how to tackle piracy. Speaking about the visits, Rear Admiral Sinan Azmi TOSUN stated “the Chinese Navy has supported the counter piracy efforts by providing escorts to merchant vessels passing through the region in cooperation with other navies. These escort missions support provided by other actors in theatre allow NATO maritime forces to fight against piracy in different ways such as intercepting any upcoming threat to the maritime community which increase the effectiveness of our mutual efforts. We both expressed our determination to improve the cooperation between NATO and Chinese units.

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Advancing DDGS Adoption in China

Posted by fidest press agency su venerdì, 9 dicembre 2011

Rice grains

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The U.S. Grains Council’s latest DDGS promotion in China was a successful pair of workshops in Guangzhou and Qingdao, according to Alvaro Cordero, USGC manager of DDGS.“The day-long sessions were designed to provide an exchange of comprehensive DDGS market information, including discussions and analysis of the value of U.S. DDGS,” he reported. “We had 200 to 250 people at each session, a much larger attendance than we initially planned for. The emphasis was primarily on buyers, but we had attendees from other backgrounds.” Cordero noted the benefits of having a number of USGC member companies present. “This created a good opportunity for buyers and sellers to make connections,” he said. The conferences, organized in cooperation with FoodChina Company, included presentations on DDGS use in swine, poultry and dairy rations, in addition to quality control, DDGS supply and demand, and pricing.While the pace has slowed compared to last year’s record volume, the United States continues to export large volumes of DDGS to China, despite an anti-dumping case initiated by the Chinese government last winter. U.S. shipments in the January-to-September period were down 49 percent from the previous year but still totaled almost one million metric tons, making China the number two export market for distillers grains.

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Chinese investors lead Angolan M&A

Posted by fidest press agency su giovedì, 28 ottobre 2010

London, 27 October 2010- Just ten years after the end of a crippling three-decade civil war, Angola has become a magnet for overseas investors. Chinese players such as CNOOC and Sinopec are at the forefront of those casting an eye on the country’s rich oil resources.Angola is already an OPEC member and is Africa’s second largest oil producer after Nigeria. And the country is also experiencing a boom as it rebuilds itself with a 16% growth in GDP in 2008 only momentarily paused last year due to lower oil prices in the wake of the global financial crisis. Early projections for 2010 suggest Angola would again return to double digit real growth.“It is too early to say whether Angola is the next big thing for foreign investors,” mergermarket editor Giovanni Amodeo said. “But mergermarket data shows Africa’s contribution to global M&A is increasing every year, making the region increasingly more attractive due to its natural resources.”
Angolan M&A this year has been dominated by oil related sectors, according to mergermarket data. On the back of this boom downstream activity is also expected with South African PetroSA and the Angolan state-owned Sonangol, for example recently hinting at a joint venture. But like the neighbouring with Democratic Republic of Congo to the North, Angola is also said to have large diamond deposits which have yet to bring any high profile transaction. Petra Diamond, Namakwa Diamonds, Trans Hex Group, Lucara Diamond or Firestone Diamonds are just some of the companies which either are seen as potential sector buyers.

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