Econintersect: The following early week news stories related to China have been collected and summarized. Click through Read more >> to review.
- China’s Xi stamps authority on party with Bo verdict – http://news.yahoo.com
By Benjamin Kang Lim and Adam Rose
BEIJING (Reuters) – With ousted senior politician Bo Xilai jailed for life, Chinese President Xi Jinping has stamped his authority on the Communist Party by effectively warning he will not tolerate dissent as he seeks to push through tough economic reforms. Bo was sentenced on Sunday after being found guilty on charges of corruption, taking bribes and abuse of power…
- Bo Xilai to appeal conviction – http://telegraph.co.uk/
By Malcolm Moore
On Sunday, the 64-year-old Mr Bo was found guilty of taking millions of pounds of bribes, embezzling public funds and trying to cover up the murder of Neil Heywood, a British businessman.
He received a life sentence, and must serve at least 13 years before being eligible for parole.
“He said he would appeal,” the source, who asked not to be named, said.
- China unblocks Twitter in Shanghai trade zone – http://bbc.co.uk./
The Chinese government could be about to relax its strict censorship laws, albeit only in a small area of one of its cities.
- EXCLUSIVE: China to lift ban on Facebook – but only within Shanghai free-trade zone – http://scmp.com/
By George Chen
Beijing has made the landmark decision to lift a ban on internet access within the Shanghai Free-trade Zone to foreign websites considered politically sensitive by the Chinese government, including Facebook, Twitter and newspaper website The New York Times.
- Global Economy: Grappling with the Fed and other uncertainties – http://news.yahoo.com
By Alan Wheatley
LONDON (Reuters) – A clutch of surveys this week is likely to show the global economy slowly picking up even as new and old uncertainties combine to test the optimism of businesses and consumers alike. Purchasing managers indexes (PMIs) for the euro zone, China and the United States are all forecast to climb further away from the boom-bust line of 50…
- Shares slip ahead of China data, more Fed talk – http://www.reuters.com/SYDNEY
(Reuters) – Asian markets got off to a lackluster start on Monday ahead of more testing data from China, while the euro had only the briefest of lifts from Chancellor Angela Merkel’s landslide victory in Germany’s general election.
- China Beige Book Shows Slowdown, Opposite Official Data – http://bloomberg.com/
China‘s economy slowed this quarter as growth in manufacturing and transportation weakened in contrast with official signs of an expansion pickup, a private survey showed.
Increases in business-investment and real estate revenue also slowed, while service industriespicked up and employees became tougher to find, the survey from New York-based China Beige Book International said yesterday.
China: Preliminary PMI at 6 Month High – econintersect.com
Econintersect: The HSBC Flash PMI reading for September 2013 has risen to 51.2, up from 50.1 in August. The two-month rise from July’s eleven month low of 47.7 indicates a potentially strong rebound from the slowing economy that China experienced in the first half of 2013.
- Wells Fargo: Riding high – http://www.economist.com/
AS THE dust settles on an extraordinary period of financial tumult, which reached its zenith five years ago this week with the bankruptcy of Lehman Brothers, two banks vie for the title of the world’s biggest by market capitalisation. One is Wells Fargo, a San Francisco-based institution; the other is China’s state-owned ICBC…
- Saving America and China: A Book Review – econintersect.com
by John West, Asian Century Institute
Frank Li, a Chinese American from Chicago, has written a very important book, entitled “Saving America, Chinese Style”. It is a stimulating and fascinating read. Frank is also a regular contributor to the Global Economic Intersection blog. Frank’s argument is that America has two top problems, high unemployment and a huge national debt…
- Week Ahead Economic Overview [23-27 Sep]: Flash PMIs for the US, the eurozone and China – http://www.markit.com/
In a week that sees potential revisions to second quarter GDP in the UK, US and France, flash PMIs will provide early insights into business trends at the end of the third quarter. Sentiment indicators across Europe, including the German IFO index, the inflation rate for Japan and US durable goods order numbers are also among the week’s highlights.
Beijing Review: China to invest in 3 mln hectares of Ukrainian farmland – media
ReutersSHANGHAI, Sept 22 | Sun Sep 22, 2013 10:58am IST. SHANGHAI, Sept 22 (Reuters) – China is to buy 3 million hectares (7.4 million acres) of Ukrainian farmland, media said on Sunday, which would make Ukraine China’s largest overseas farming centre as it …
- Grappling with the Fed and other uncertainties – http://news.yahoo.com
By Alan Wheatley
LONDON (Reuters) – A clutch of surveys this week is likely to show the global economy slowly picking up even as new and old uncertainties combine to test the optimism of businesses and consumers alike. Purchasing managers indexes (PMIs) for the euro zone, China and the United States are all forecast to climb further away from the boom-bust line of 50…
- That’s entertainment: Stars come out as China’s richest man announces $8 billion film park – http://news.yahoo.com
By Jane Lanhee Lee and Matthew Miller
QINGDAO, China (Reuters) – China’s richest man, property developer Wang Jianlin, raised the curtain on a planned 50 billion yuan ($8.17 billion) “motion-picture city” which he described as the biggest-ever single investment in the movie and television industry…
- US companies await reforms from China’s new leadership – http://news.yahoo.com
US companies in China are taking a cautious view of the new Chinese leadership, hoping a key November Communist Party meeting will clear up the outlook for economic reform.
- The best TV show about college returns. We talked to the man behind it. – http://feeds.washingtonpost.com
Brad Neely is a comic book artist and animator, best known for his Web videos set in the fictional town of China, IL, including the series “I Am Baby Cakes,” “The Professor Brothers,” and “China, IL.” The latter has been adapted into a TV series of the same name by Cartoon Network and Adult Swim, with Neely as the head writer…
