P.R. of China's Economy, Foreign Policy & Defense

[mistyronin 1181]

(The Guardian) China stock markets continue nosedive as regulator warns of panic

Chinese stock markets tumbled again on Wednesday as investors shrugged off a series of support measures by Chinese regulators, including the central bank’s first public statement in support of the market since it cut interest rates in late June.

Minutes after opening, the Shanghai Composite Index fell by just over 8%. while the Shenzhen Component was down almost 5%.

Within ten minutes of trading, more than 1,000 shares across China’s two stock markets had dropped by the daily limited of 10% and had their shares automatically suspended. About 1,400 companies, or more than half of those listed – filed for a trading halt in an attempt to prevent further losses.

China’s securities regulator said there was “panic†in the stock market with irrational selling off increasing and “leading the stock market to a situation of intense liquidityâ€.

The People’s Bank of China said it was assisting China’s Securities Finance Corporation (CSFC), the national margin trading service provider, to acquire liquidity in an effort to steady the stock market.

It said it would do this through measures such as inter-bank lending, mortgage financing and floating financial bonds. It said it would keep a close watch on the market and continue to support the CSFC and guard against systematic and financial risks.

[vilas 473]

China is now superpower because they produce all and in fact "made in China" is main unemployment factor in Europe

[sudayev 27]

Does anyone need yet another China topic?

Couldn't you post this here in China general? Is "China stock markets continue nosedive as regulator warns of panic" so damn important t that it need a separate thread that will end as China general talk??

Sorry, but Offtipic is becoming one big mess, threads being duplicated for sake of one article.

[mistyronin 1181]

Couldn't you post this here in China general? Is "China stock markets continue nosedive as regulator warns of panic" so damn important t that it need a separate thread that will end as China general talk??

First this thread is not about everything, but about certain specific subjects related to the P.R. of China. IMO yeah, that subjects are worth this thread.

Second that thread you linked is from a banned user, and hasn't had posts for months.

[vilas 473]

China is going to be world superpower no 1 soon

[mistyronin 1181]

China is going to be world superpower no 1 soon

Well it's still a long way for China, but yeah, in the future it could perfectly be. It's already been the World's num 1 economy and is beefing it's military power.

(Forbes) China's Now The World Number One Economy And It Doesn't Matter A Darn

(BBC) China military budget 'to rise 10%'

[sudayev 27]

First this thread is not about everything, but about certain specific subjects related to the P.R. of China. IMO yeah, that subjects are worth this thread.

Yeah with the next pages you will discuss about Russia, Finalnd, Poland, Spain and European Union.

Second that thread you linked is from a banned user, and hasn't had posts for months.

Doesn't make any difference. Many OP's hasn't had posts for months, this isn't requirement.

[mistyronin 1181]

Yeah with the next pages you will discuss about Russia, Finalnd, Poland, Spain and European Union.

If you have personal issues, feel free to PM me. But trying to derail this thread is quite low.

Doesn't make any difference. Many OP's hasn't had posts for months, this isn't requirement.

It does, in fact one of the rules of the forum is to not dig up on old threads.

[sudayev 27]

It does, in fact one of the rules of the forum is to not dig up on old threads.

In this case forum launches a prompt note. Can't see such note in China general.

Notice: This is an old thread. The last post was X days ago. If your post is not directly related to this discussion please consider making a new thread.

[mistyronin 1181]

In this case forum launches a prompt note. Can't see such note in China general.

Man seriously, if you have any issue with how this forum is moderated, talk to the moderators through the appropriate channels. But stop derailing the thread and trying to flamebait us.

---------- Post added at 14:34 ---------- Previous post was at 14:29 ----------

Now back to the topic:

(CNBC) China’s retail investors give up hope as exodus intensifies

The precipitous plunge in Chinese stocks, and Beijing's struggle to halt the fall, has sent waves of panic through the country's 90 million-plus retail investors, who say their life-savings are "falling into an abyss."

At a Citic Securities brokerage in Beijing on Wednesday, the trading hall was packed was packed with retail investors, many of them pensioners, lamenting the loss of the money in the stock market. One investor was watching the big screen between his fingers as if at a horror flick.

The mood was fearful, panicked and sometimes hostile, as investors huddled around computer screens, waiting to see whether the latest moves by Chinese authorities to prop up the stock market would do any good.

"The government has been manipulating the stock market all this time," one investor who didn't want to be named told CNBC. "The authorities made us believe that we can make money from a bull market but actually we are falling into an abyss losing most of our life savings."

Another questioned the government's motives.

"I'm sure if the Chinese Communist Party is really determined to rescue the market, they could turn it around overnight. They haven't used their most powerful tools. Why? There must be disagreement among the leadership."

[sudayev 27]

Only because I mentioned about existing similar thread you are accusing me of flame baiting. Great.

[mistyronin 1181]

(Washington Times) Thailand nears $1 billion submarine deal with China despite exclusive U.S. military training

In a deal that has raised eyebrows around the region, Thailand’s coup-installed regime is on the verge of purchasing three attack submarines from China for $1 billion, after the country’s navy received exclusive anti-submarine warfare training from the U.S. 7th Fleet.

Criticism of the deal has been strong in Bangkok’s media, with some skeptics saying it would waste money because Thailand has no enemies and the military previously bought an unimpressive aircraft carrier and blimp, plus fake bomb detectors. Royal Thai navy officials selected China over competing bids from Russia, Sweden, France, Germany and South Korea.

Bangkok has long been a key U.S. ally in the region, but it has been stepping up economic and transportation ties with Beijing under President and Prime Minister Prayuth Chan-ocha, the former army officer who heads the military junta that seized power in 2014. Talking to reporters in Bangkok Tuesday, Mr. Prayuth denied the submarine deal was another bid to curry favor with China, the region’s rising power.

“There is no need for that,†he said. “We have a good relationship with China already. Every country is good to us, except those who are still stuck on the word ‘democracy.’â€

[dysta 10]

I'll leave discussions to you guys, I prefer to post news since people start to take interest to China.

Another news below:

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http://hamptonroads.com/2015/07/top-gun-grad-chinese-break-me-out-jail-and-ill-tell-you-everything-i-know

Prosecutors: Top Gun grad offered Chinese secrets for help with jailbreak

By Scott Daugherty

The Virginian-Pilot

© July 8, 2015

NORFOLK

In jail for producing child pornography, a Top Gun graduate turned flight instructor offered to share his fighter pilot expertise with the Chinese government in exchange for its help in breaking him out, according to federal prosecutors.

Correctional officers seized a signed letter to the Chinese Embassy in which Lt. Daniel Chase Harris indicated he had been wrongly convicted of 31 felonies in U.S. District Court in Norfolk and no longer believed in his country.

"Attached is a list (partial) of information I possess that I believe you would be very interested in having. All I ask in return is that you break me out," reads the letter, which referred to the F-35 Joint Strike Fighter, F/A-18 Super Hornet, and general carrier operations, among other things.

The letter concluded with a threat to contact the Russian Embassy if the Chinese did not act fast.

"Once out and under your protection, all my knowledge is yours."

Harris, 31, of Virginia Beach, is set to be sentenced Monday on charges he coerced nine girls between the ages of 12 and 17 into making sexual videos of themselves. He faces the possibility of life in prison.

No new charges have been filed in connection with the letter. Harris' defense attorney, Andrew Sacks, denies his client wrote it. Sacks said he was "actively investigating rebuttal evidence to the allegations that he could have authored or sent the letter."

It isn't the first time Harris - a 2005 graduate of the U.S. Naval Academy - has denied authoring a potentially damaging letter while in jail. Prosecutors bolstered their case at trial with a series of letters and related text messages that investigators say Harris wrote after his arrest. One of the letters, signed "John Anderson" and mailed to Sacks with the help of a friend, claimed that Anderson had framed Harris because he was in love with his wife and wanted to break up their marriage.

Harris' wife filed for divorce in February 2014, shortly after his arrest.

Assistant U.S. Attorney Elizabeth Yusi said in court documents the Chinese Embassy letter was sent using another inmate's name because Harris knew staffers at the Western Tidewater Regional Jail were screening his mail. She did not say how the letter came to the attention of authorities.

The letter was written on the back of Navy flight schedules similar to those that were admitted into evidence at his trial and included a crude map identifying the location of Harris' cell.

"I believe this letter, the schedule it is written on and a Google search of me in Virginia Beach will prove my sincerity/honesty," the letter said. "The decision is yours, but if you don't act fast it will be gone."

A federal jury convicted Harris in March on the 13th day of his trial. Sacks has announced plans to appeal.

According to court testimony, Harris' victims did not know him by name. Prosecutors argued he used online aliases to contact the girls between 2011 and 2013 while he was stationed in Japan; Guam; Key West, Fla.; and Virginia Beach. He was last assigned to Strike Fighter Weapons School Atlantic at Oceana Naval Air Station.

They say Harris used the aliases to pose as teenage boys and to flirt with the girls. He would eventually talk the girls into posing naked for him while chatting online.

The girls said the flirtation eventually turned to threats. Harris would tell the girls he would post the videos online or show them to the girls' friends if they refused his demands.

The youngest victim was 12 when she met Harris online. She testified she tried to cut off communication with him when she realized he was not a teenage boy, but she couldn't.

The girl tried to kill herself after the ordeal, court documents said.

"Blackmail and extortion are abhorrent crimes," Yusi wrote in court documents. "Somehow, though, Harris found a way to go even beyond abhorrent behavior and commit unspeakable, unfathomable crimes involving young, impressionable girls."

In an interview Tuesday, Sacks maintained Harris was innocent. For the purposes of sentencing, however, he took the position that his client was guilty and his misdeeds were the result of his desire to be the best. He noted that Harris is the grandson of a two-star admiral, the son of a Navy commander pilot, and the son-in-law of a Navy surface warfare commander.

"The defendant became a slave to his own aspirations, his self-expectations, and his efforts to succeed. Attaining those achievements controlled the defendant - whether it was being the best student, the best lacrosse player, the best pilot, the best husband, the best son," Sacks wrote. "At some point, being controlled by events caught up with the defendant, and he rebelled psychologically, unconsciously, unknowingly, seeking instead to wrest some kind of control for himself other than the quests for perfection that had been controlling him for years."

Sacks went on to blame the "John Anderson" letter on his client's "deep denial and repression" and a desire to "avoid the humiliation of child pornography-related conduct."

"When law enforcement activity eventually caught up with the defendant, the realization and recognition of his behavior was too shameful to allow him to admit to his flaws," Sacks wrote.

Federal guidelines recommend Harris receive a life sentence. Prosecutors are seeking at least 50 years. Sacks is asking for 15 years - the mandatory minimum.

[mistyronin 1181]

I'll leave discussions to you guys, I prefer to post news since people start to take interest to China.

Interesting input. It's always nice to have someone on the spot that can give us an inside view. :)

- - -

I find curious how the P.R. China's Gov deals with the stock market plunge.

(The Guardian) China bans major shareholders from selling their stakes for next six months

China’s securities regulator took the drastic step of banning shareholders with stakes of more than 5% from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.

The China Securities Regulatory Commission (CSRC) said on its website late on Wednesday that it would deal severely with any shareholders who violated the rule.

The prohibition is also seen applying to foreign investors who hold stakes in Shanghai- or Shenzhen-listed companies, although most of their holdings are below 5%.

China’s stock markets opened down again Thursday morning. The Shanghai Composite Index was down 2% while the Shenzhen Component Index opened down just over 1%.

(The Wall Street Journal) Why Beijing’s Efforts Have Failed to Tame China’s Stock Market

Since the last week of June, the Chinese government has intervened in the country’s stock markets nearly every day to stop their steep slide. But the harder Chinese authorities try, the more it looks like they are losing control.

The Shanghai Composite Index fell 5.9% on Wednesday and is down nearly one-third from its peak on June 12. Since then, $3.5 trillion in value has been erased from companies in the benchmark index—or nearly five times the size of Apple Inc.

[mistyronin 1181]

(Wall Street Journal) Everything You Need to Know About China’s Stock Markets

Even as China’s stock markets rebound after a brutal selloff, they are behaving like no other markets in the world.

Taken together, China’s two stock markets rank second in the world in market capitalization behind the New York Stock Exchange, and in the top 10 in terms of number of listed companies.

Despite their size, China’s markets trade like the wildest emerging markets with huge volatility, big boom and bust cycles driven by fast-trading individual investors and heavy involvement from the government. Unlike every other major stock market in the world, China’s markets are almost completely closed to foreign investors.

China’s modern stock markets are young by global standards, with trading resuming 25 years ago after being interrupted for decades by the Communist revolution. They were born out of the reforms of Deng Xiaoping, who transformed China from a poor, centrally planned, rural economy into the vibrant, export-oriented juggernaut that remains one of the world’s fastest-growing major economies, despite a big slowdown in recent years.

[dysta 10]

https://uk.news.yahoo.com/asia-markets-bounce-back-china-072511271.html

(AFP) Asia markets bounce back as China beefs up measures

Asian markets and the euro rose Monday as European leaders said they had agreed a debt deal to keep Greece in the eurozone, while Shanghai advanced for a third straight session after witnessing fierce recent volatility.

After a torrid few weeks for global markets, analysts said some confidence was returning, with comments out of Brussels indicating the five-month Greece crisis could be close to being resolved, while Chinese markets began to recover.

EU president Donald Tusk said an agreement had been struck between Greece and its creditors after 17 hours of high-pressure summit talks in Brussels.

"EuroSummit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms and financial support," Tusk said, referring to the EU's bailout fund that will oversee the third Greek bailout since 2010.

Tokyo rose 1.57 percent, or 309.94 points, to 20,089.77 and Seoul jumped 1.49 percent, or 30.25 points, to 2,061.52.

Shanghai climbed 2.39 percent, or 92.58 points, to 3,970.39 and in late trade Hong Kong was 1.20 percent higher.

However, Sydney gave back early gains to end 0.34 percent, or 18.8 points, down at 5,473.2.

Tokyo, Sydney and Seoul closed before the deal was announced.

The euro rose to $1.1182 Monday from $1.1149 late in New York. In earlier electronic trading, the single currency fell as low as $1.1089. It was also at 137.70 yen compared with 136.58 yen in US trade.

The breakthrough came after Germany and other eurozone leaders handed Greece a brutal ultimatum for desperately needed bailout cash Sunday, with Chancellor Angela Merkel pushing for a temporary euro exit -- or "time out" -- if it does not agree.

While Greece's Prime Minister Alexis Tsipras baulked at some of the detail in the proposals he hunkered down with German Chancellor Angela Merkel, French President Francois Hollande and EU president Donald Tusk to hammer out a final plan.

"The market had started pricing in fears we're going to see a terrible outcome from China and Greece, but we've started feeling more optimistic now," Koichi Kurose, Tokyo-based chief market strategist at Resona Bank, told Bloomberg News.

"Stock prices are reflecting hopes Greece will come to a resolution. China looks to have reached its lows."

- Shanghai recovery -

Shanghai extended a rebound from the end of last week after almost a month of heavy losses that saw it sink about 30 percent, wiping trillions off valuations. Investors were settled by government moves last week to prevent a market crash.

About 400 firms began trading again Monday after almost half the market was suspended last week to prevent a further meltdown.

There was also some cheer from data that showed exports increased more than expected in June.

"Imports improved significantly in June because of lower import duties," said Liu Xuezhi, an economist with Bank of Communications Co. in Shanghai, told Bloomberg News. "Exports are expected to maintain modest growth in coming months to help the economy."

However, the figures also showed two-way trade sank almost seven percent in the first half of the year, well off the government's target of growth of "about 6.0 percent" for all of 2015.

Despite the uptick in Shanghai, Sam Tuck, a senior currency strategist in Auckland at ANZ Bank New Zealand Ltd., warned: "It's positive that the authorities didn't feel the need to do anything over the weekend but markets are still clearly nervous and we need to see most of the stock market open.

"There's still lots of halts."

The sell-off spread to other regional markets on fears for the world's number two economy and key driver of global growth.

On oil markets, US benchmark West Texas Intermediate for August delivery was down $1.29 to $51.45 and Brent crude tumbled $1.64 to $57.09 a barrel in afternoon trade.

Gold fetched $1,161.12 compared with $1,163.50 late Friday.

[dysta 10]

http://www.globaltimes.cn/content/930271.shtml

(Xinhua) Drilling platform put into operation in South China Sea

Photo taken on June 16, 2015 shows the Xingwang deep-sea semi-submersible drilling platform at Liwan3-2 gasfield in the South China Sea, south China. China's largest offshore oil and gas producer CNOOC Ltd. announced on July 3, 2015 that its Xingwang deep-sea semi-submersible drilling platform has started drilling at 1,300 meters underwater level in Liwan 3-2 gas field in the South China Sea. Photo: Xinhua

[mistyronin 1181]

(Bloomberg) China May Tip World Into Recession: Morgan Stanley

Forget about all the shoes, toys and other exports. China may soon have another thing to offer the world: a recession.

That is the prediction from Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management, who says a continuation of China’s slowdown in the next years may drag global economic growth below 2 percent, a threshold he views as equivalent to a world recession. It would be the first global slump over the past 50 years without the U.S. contracting.

“The next global recession will be made by China,†Sharma, who manages more than $25 billion, said in an interview at Bloomberg’s headquarters in New York. “Over the next couple of years, China is likely to be the biggest source of vulnerability for the global economy.â€

While China’s growth is slowing, the country’s influence has increased as it became the world’s second-largest economy. China accounted for 38 percent of the global growth last year, up from 23 percent in 2010, according to Morgan Stanley. It’s the world’s largest importer of copper, aluminum and cotton, and the biggest trading partner for countries from Brazil to South Africa.

The International Monetary Fund last week cut its forecast for global growth this year to 3.3 percent, down from an estimate of 3.5 percent in April, citing weakness in the U.S. While the Washington-based lender left its projection on China unchanged at 6.8 percent, the slowest since 1990, it said “greater difficulties†in the country’s transition to a new growth model poses a risk to the global recovery.

[R0adki11 3945]

Man seriously, if you have any issue with how this forum is moderated, talk to the moderators through the appropriate channels. But stop derailing the thread and trying to flamebait us.

Can't see how Sudayev is flame-baiting here. He was simply making a suggestion, please don't jump to conclusions and accuse other forum members. Thanks

[oxmox 73]

Chinese company ‘builds’ 3D-printed villa in less than 3 hours

A pioneering 3D-printed house just popped up in Xian, China - and Chinese company ZhuoDa “built†the two-story villa in less than three hours. Made up of six 3D-printed modules, the house was assembled like LEGO bricks before a live audience who were then invited to explore the interior. The modular fireproof home can withstand a magnitude-9 earthquake and is made from a special construction material the company is keeping secret.

The company completed approximately 90 percent of the construction in an off-site factory before shipping the modular pieces to the installation site. This efficient and timesaving process dramatically reduces construction costs to just 2,500 – 3,000 yuan ($400 – $480) per square meter. According to An Yongliang, the developing engineer at Zhuoda, the 3D-printed villa only takes about 10 days to produce from initial construction to final assembly, while it typically takes half a year to build a traditional villa.

After the structural framework was 3D-printed, the company applied decorative sheet textures to each module before final assembly. Homeowners will be able to choose from a variety of decorative textures, such as jade, marble, wood, and granite. Herbs can even be embedded into the walls of the house for ‘built-in aromatherapy.’ The buildings can withstand wear for at least 150 years.

http://inhabitat.com/chinese-company-builds-3d-printed-villa-in-less-than-3-hours/

[mistyronin 1181]

(South China Morning Post) China Markets Live - Shanghai stocks suffer heaviest one-day loss since 2007, Hong Kong sinks in sympathy

(CNBC) Shanghai shares tank over 8% on soft data

Chinese stocks led the sell-off in Asia on Monday, following declines offshore and as the fall in commodity prices, questionable growth in the mainland sapped risk appetite.

Meanwhile, caution ahead of the Federal Reserve's two-day policy meeting also kept investors on the sideline.