Monthly Archives: September 2013
1. Cover story
2. Economy outlook
3. Financial strategy
4. Legal spotlight
5. Point of interest
7. Remark from editor
Shuanghui International Holdings Limited (“Shuanghui International”) and Smithfield Foods, Inc. (“Smithfield”) announced on September 26, 2013 that they have completed their previously announced strategic combination.
“Today marks an exciting new chapter for both of our proud organizations as we formally begin a partnership that will benefit our customers, employees, producers and partners,” said Shuanghui International Chairman Wan Long. “Together we look forward to utilizing our individual strengths, including Shuanghui’s extensive distribution network in China and Smithfield’s leading production and safety protocols, to provide safe, high-quality products to consumers worldwide.” Continue reading
The first China-Arab States Expo, a key platform to promote the relationship between China and the Arab states, was held from 15 to 19 September 2013 in northwest China’s Ningxia Hui Autonomous Region.
President Xi Jinping sent a letter of congratulations to the event, in which he said the expo is of great significance in promoting an all-round cooperation between China and the Arab states. China is willing to carry out cooperation with Arab states to benefit the people of both sides and contribute to the prosperity of the world, Xi said. Continue reading
The Ministry of Commerce (MOFCOM) of China, the National Bureau of Statistics (NBS) and the State Administration of Foreign Exchange (SAFE) jointly released on August 30 the Statistical Communiqué of 2012 on China Direct Investment Overseas, making public officially the annual data on China direct investment overseas in 2012. The communiqué was composed of six parts: Overview of China direct investment overseas; Characteristics of China direct investment overseas; Chinese investment to major economies, mix of investors, investors by industry and region and comprehensive statistics. Continue reading
WTO Dispute Settlement Body passed the Panel report on September 25 regarding US requests against China’s anti-dumping and anti-subsidy measures against imports of chicken products from US (Case No.DS427). Head of Department of Treaty and Law of MOFCOM made a comment on it that the Panel report rejected part of US’ claims, and gave support to China on such issues as definition of domestic industry, whether comparison of prices was made in the same level of trade, and means to give notice to unknown exporters. China welcomes the said ruling. Meanwhile, China reserves its views on penal ruling of disclosure of basic facts, believing that these problems should be clarified in days to come. Continue reading
The landmark exhibition Bruce Lee: Kung Fu-Art-Life is now open at the Hong Kong Heritage Museum, where it has been met with enthusiasm from fans around the globe. As the largest exhibit honouring Bruce Lee in the world, it will run for five years, and tells the martial arts legend’s life story in detail with more than 600 unique memorabilia items.
Lee’s daughter Shannon is chairman of the Bruce Lee Foundation, which has loaned most of the exhibits to the museum, including more than 400 relics of the late film star. Continue reading
Li Yuanchao is elected vice-president of the People’s Republic of China by the 12th National People’s Congress (NPC) on March 14, 2013. The following is the biographical sketch of Li Yuanchao:
Li Yuanchao, born in November 1950, is a male ethnic Han from Lianshui, Jiangsu Province. He entered the workforce in November 1968 and joined the CPC in March 1978. He received postgraduate training at the Central Party School and holds the degree of Doctor of Laws. Continue reading
China has very tight regulations on foreign exchanges. It used to be there were more restrictions on cash that flows out than that flows in. This phenomenon happens against the background of a developing country that is in need of capital infusion. However, time has certainly changed. Continue reading