Clifford Lo reports: About 200 parcels mailed from the mainland to the United States carrying counterfeit electronic products were intercepted in a three-day joint operation mounted by Hong Kong Customs and United States authorities.
In Hong Kong, about 1,300 fakes including mobile phones, tablet computers and chargers were confiscated in 54 parcels totalling an estimated street value of HK$1.3 million, the Customs and Excise Department said.
It is understood some of the parcels intercepted in the United States were confiscated based on intelligence from Hong Kong customs officials.
Initial investigation showed the fake products were mailed from the mainland and destined for the US via Hong Kong, a source said. Read the rest of this entry »
’We have seen a significant drop of U.S. companies going to China…On the contrary, they are coming back here,’ says market expert.
For a long time, a lot of American companies saw China as the world’s biggest business opportunity. But that time may be over.
“If you’re waiting for the booming Chinese consumer…it’s just not on the way. The upside is just not what some consumer firms were hoping for.”
— Derek Scissors, chief economist at China Beige Book International, which regularly surveys Chinese businesses
This week, McDonald’s was reportedly in talks to sell its China unit and license its name to a Chinese company instead, following Yum Brands ‘ decision to do something similar and spin off its China operations into a new firm called Yum China last month.
“The trend is that opening retail business on the ground in China as a foreigner is difficult and expensive.”
Coca-Cola announced plans to sell its China bottling business in November, and International Paper said in March that it’s spinning off its China and Southeast Asia corrugated packaging business.
“We have for years tried to push a lot of our clients not to do that, but instead do what McDonald’s and Yum Brands are doing, which is…monetise your name and your knowledge without actually being the one who does all the work to make it work in China. China is a tough, tough market.”
— Dan Harris, lawyer at Harris Bricken and author of the China Law Blog
“The trend is that opening retail business on the ground in China as a foreigner is difficult and expensive,” said Dan Harris, lawyer at Harris Bricken and author of the China Law Blog.
“We have for years tried to push a lot of our clients not to do that, but instead do what McDonald’s and Yum Brands are doing, which is … monetise your name and your knowledge without actually being the one who does all the work to make it work in China,” Harris said. “China is a tough, tough market.”
McDonald’s said in March it was looking for “strategic partners” for key Asia markets. Last year, Yum Brands said its decision to spin off its China unit followed a “rigorous review of strategic options.”
Fast food companies were early major entrants to China nearly three decades ago. As individual Chinese grew wealthier, the opportunities for tapping the Chinese consumer market appeared to grow exponentially. But roadblocks appeared: U.S. fast food chains struggled with food safety scandals in China, and other companies have had intellectual property such as trademarks stolen.
“We have seen a lot of U.S companies struggling [with] their China” operations, said Siva Yam, president of the Chicago-based U.S.-China Chamber of Commerce. “The market is much more mature. We have seen a significant drop of U.S. companies going to China. … On the contrary, they are coming back here.”
An annual report from the American Chamber of Commerce in China found last year that 32 per cent of member companies surveyed do not plan to expand investments in China, a percentage that’s higher than during the financial crisis in 2009. Read the rest of this entry »
The reaction among the United States’ strongest allies in Asia — Japan and South Korea — was more severe, however, as local stock markets plunged.
Patrick Brzesk reports: As news of Donald Trump’s shocking presidential win was reverberating around the world Wednesday, media coverage in China was oddly scant — and not by accident.
“I think Trump is the tragedy of the American people. How did he win? It must be a scam. Now I think cats and dogs can be president!”
— Sina Weibo user Zhonghua Junlon
China’s censors had issued advance orders to media outlets to restrict coverage of the U.S. democratic contest. All websites, news outlets and TV networks were told not to provide any live coverage or broadcasts of the election and to avoid “excessive” reporting of the story, a source who was briefed on the official instructions told the South China Morning Post.
“In Tokyo, and across the Japanese archipelago, the election also was a sensation. TV stations in Japan rapidly rejigged schedules Wednesday afternoon to continue coverage of the U.S. election as the reality of a Trump presidency became apparent, while the Tokyo stock market crashed as the yen soared against a weakening dollar.”
In response, coverage of Trump’s upset was carried only as a secondary story across the Chinese media landscape, with most outlets highlighting a meeting between Chinese Premier Li Keqiang and Vladimir Putin instead.
China’s foreign ministry also stopped short of issuing congratulations to Trump in the immediate aftermath of the decision, instead stating: “China is closely following the U.S. presidential election, and expects to maintain healthy Sino-U.S. relations with the new government.” (Chinese President Xi Jinping was also making calls elsewhere: he rang outer space to congratulate the astronauts aboard China’s recently launched Shenzhou 11 spacecraft, wishing them “a victorious return.”)
The press restrictions were part of Beijing’s usual strategy of limiting the Chinese public’s exposure to Western ideas and democracy. Instead, censors told Chinese media to report “in a timely manner” on any embarrassing scandals during the election and to criticize “in depth” any perceived political abuses.
“2016 looks like it may be a turning point in world history with first Brexit and now this. I’m hoping 2016 doesn’t go down as the beginning of the end.”
— A manager at a major Japanese entertainment company, who spoke on condition of anonymity
To that end, the People’s Daily ran an editorial on the eve of the election saying that the current cycle had “undeniably revealed the dark side of so-called democracy in the U.S.” The paper, which is the official mouthpiece of the Chinese Communist Party, described the presidential contest as dark, tasteless, chaotic and nothing more than a “meaningless farce.” A similar editorial controlled by Xinhua said the election was “an expression of all of the American political system’s flaws.”
As Trump’s victory began to circulate around Chinese social media late Wednesday (local time), the response was a mix of surprise, schadenfreude and amusement.
Sina Weibo user Zhonghua Junlong said of the result: “It shows that the U.S. government and democracy have weakened. And at the same times it provided our country with a prosperous opportunity — it will make China more powerful.”
A user named Fangsi de qingchun weighed in with a more democratic-leaning reaction: “I think Trump is the tragedy of the American people. How did he win? It must be a scam. Now I think cats and dogs can be president!”
A Pew Research poll conducted in October showed that Clinton was the slim favorite of most Chinese, but an SCMP poll published earlier this week suggested that Trump was viewed somewhat more favorably in China than anywhere else in Asia. Read the rest of this entry »
Beijing’s Draft Ruling on Oath-Taking for Hong Kong Legislators ‘So Detailed it Amounts to a New Law’Posted: November 5, 2016
Constitutional expert says interpretation sets dangerous precedent for Beijing to interfere when it does not like a law, but Bar Association chairwoman believes it will have limited impact.
Joyce Ng reports: The Beijing draft ruling on how lawmakers should take their oath appears so elaborate that it amounts to making a new law for Hong Kong, lawyers say, though they differ on how much the intervention will affect the judicial system.
One professor says the ruling could set a dangerous precedent for Beijing to issue its own interpretation if it does not like a Hong Kong law or does not trust local judges in dealing with a sensitive issue. The Bar Association chief says the decision could provide clarity for lawmakers about oath-taking.
The draft interpretation, set to be voted on Monday, is likely to prescribe the format and conduct for legislators taking the oath and the consequences of non-compliance, as well as defining words like “allegiance” in Article 104 of the Basic Law, according to Basic Law Committee members who have been consulted by the National People’s Congress Standing Committee.
But Johannes Chan Man-mun, an expert in constitutional law at the University of Hong Kong, said such details should not exist in or be added to a document like the Basic Law.
“It is acceptable Beijing wants to define words like ‘allegiance’ and ‘uphold’, but to add in so much other detail is not interpreting the law but making a new law, which the Standing Committee cannot do,” he said.
The controversy erupted when two localist lawmakers used derogatory language about China when taking their oaths. The chief executive and secretary for justice then launched a court bid to disqualify the two, Sixtus Baggio Leung Chung-hang and Yau Wai-ching, from taking their Legco seats.
Under Article 18 of the Basic Law, if the Standing Committee wishes to apply a mainland law to Hong Kong, it must first consult the Hong Kong government and add it to annex 3 of the Basic Law. Chan said the Standing Committee arguably bypassed this procedure by way of interpretation.
Another possible point of the interpretation is to confirm that the Legislative Council’s secretary-general, who is in charge of administration issues, has the power to invalidate oaths.
Chan said it would be ridiculous to elevate the status of the secretary-general and put him in the constitutional document, giving him too much power. Read the rest of this entry »
Things just keep getting worse and worse for Hong Kong’s paper of record.
Now, if you try to log onto South China Morning Post‘s Chinese-language news site or lifestyle site you are redirected to the paper’s English-language website and informed that SCMP’s Chinese-language services have been closed in order to better “integrate resources.” The message concludes, “We thank you for your past support.”
And just like that years of Chinese-language reporting by the SCMP has been wiped out. Current and former employees told Quartz that they were not told in advance about the decision to close the site. This is backed up by the fact that SCMP’s Chinese-language news site, nanzao.com, was still posting stories on Facebook as late as this afternoon. Read the rest of this entry »
South China Morning Post reports: Hong Kong police will hold unprecedented election security drills next week ahead of the Legislative Council polls, and mobilise all regional response teams set up after the 2014 Occupy protests to tackle social or political disturbances, the Post has learned.
“We will discuss tactics to be used during the elections. They need to update their knowledge about the latest equipment. So that everyone is on the same page about the operation. We learned a lesson from the Mong Kok riot. We want no blunders.”
Some 2,000 officers in five Regional Response Contingents drawn from the elite Police Tactical Unit and Emergency Units, among others, will be on standby for any mob violence on September 4, when more than 3.7 million eligible voters fan out across 595 polling stations to vote in the city’s most critical elections to date.
A senior police source told the Post that the risk level during the election period was “not very high”, based on initial assessments, but the force would not take any chances, especially given concerns about protest action by radical localists.
“The five regional teams will stand by during this period and will be deployed immediately in case of any trouble. They know their districts the best and have laid out clear manpower arrangements. A heavy police presence could put pressure on voters and impact the way they vote. So we have to be very careful.”
“Potential threats are there, especially with two returning officers receiving threatening letters just recently after disqualifying localist hopefuls,” the source said.
“The five regional teams will stand by during this period and will be deployed immediately in case of any trouble. They know their districts the best and have laid out clear manpower arrangements.” But the source also noted: “A heavy police presence could put pressure on voters and impact the way they vote. So we have to be very careful.”
The backlash so far has not been violent against the government’s recent decision to disqualify Legco candidates who advocate independence for Hong Kong, but some election officials responsible have received threats by mail.
The manpower arrangements were adopted as part of lessons learned during the 2014 civil disobedience campaign and the Mong Kok riot in February. The force established the response teams in the Hong Kong Island, Kowloon East and West, and New Territories North and South regions last year. Read the rest of this entry »
Beijing taking no chances in protest-prone Hong Kong.
Emily Rauhala writes: In a sign of the times, officials in Hong Kong are gluing down bricks ahead of a visit by a top Chinese official, a move reportedly aimed at stopping protesters from turning pieces of pavement into projectiles.
The road work is part of a sweeping security mobilization that includes counterterrorism measures, such as road closures and barricades near the city’s central business district. Demonstrators will be relegated to protest zones, drawing complaints that the government is trying to play down dissent.
The man at the center of the storm: Zhang Dejiang, a member of China’s highest political body and the top official responsible for Macau and Hong Kong. Zhang lands in Hong Kong on Tuesday for a three-day trip. He will be the highest-ranking cadre to visit the city since pro-democracy protests in 2014.
Judging by the security preparations, not everyone is looking forward to his visit.
Anger and frustration over Beijing’s influence in Hong Kong affairs has been on the rise since 2014, when protesters occupied the heart of the city for months calling for free and fair elections.
More than a year and a half later, the issues raised by the demonstrators remain unresolved and many worry that Beijing is tightening its grip on the former British colony, threatening rule of law and the free press.
Amid crackdown on a Hong Kong publishing house this winter, Lee Bo, a local bookseller with a British passport, disappeared from a warehouse in the city and surfaced across the border in mainland China under truly unbelievable circumstances. Read the rest of this entry »
Hong Kong At ‘Serious Risk’ Of Cyberattack Amid 7 Million Daily Attempts Worldwide, Cyber Security Experts WarnPosted: May 15, 2016
Hong Kong is certainly at a “serious risk” of cyberattack, with an average of 7 million hacking attempts daily worldwide, a Hong Kong cyber crime research centre warned authorities, urging them to do more to protect themselves from such an attack.
According to Frank Tong Fuk-kay, CEO of the government-funded Hong Kong Applied Science and Technology Research Institute (ASTRI), security officials are in a serious need to step up resources and efforts to stop cybercrimes, the South China Morning Post (SCMP) reported Saturday.
Tong’s comments came just a week after ASTRI warned authorities that the Hong Kong Monetary Authority and People’s Bank of China were among a long list of central banks that may be the top targets for hacking group Anonymous in May.
“More resources are needed in ensuring cyber security if Hong Kong keeps up its position as the global financial centre,” Tong told the SCMP in an interview Friday. “[Hong Kong] needs to train its own experts. Even some banks have a chief technology officer on director boards, which shows how important cyber security is.”
ASTRI and Hong Kong Police Force have organized a cyber security summit from Monday to Wednesday, which will be attended by cyber experts from Interpol and countries like the United States, Australia, Ireland, Japan, Singapore and Hong Kong.
During his interview with SCMP, Tong warned that the increase in the use of financial technology on banks, insurance companies, airlines, public transport service provides and hospitals, involve large amounts of personal data, which could be targeted by hackers. Read the rest of this entry »
New York judge bans eight parties from sending promotional materials, including a company with a branch in Sheung Wan.
US authorities have shut down a long-running international “psychic” mail fraud ring linked to a Hong Kong company that cheated over a million Americans out of more than US$180 million.
“This widespread scam targeted more than one million Americans, many of whom were elderly or in financial distress.”
— Benjamin C. Mizer, head of the Justice Department’s Civil Division
It was understood Hong Kong police have not received any complaints about such a scam or the local firm, Destiny Research Center Limited.
A federal judge from the Eastern District of New York approved a consent decree on Monday, permanently banning eight parties, including Destiny Research Center and its president, Martin Dettling of Zurich, from using the US mail system to send ads, promotional materials and solicitations on behalf of self-styled psychics, astrologers and clairvoyants.
Since 2000, the defendants allegedly preyed upon vulnerable Americans’ superstitions and sent them over 56 million letters through the US mail purported to have been written by French psychics Maria Duval and Patrick Guerin. The letters predicted the recipients would become rich through means such as winning the lottery if they bought products and services to secure good fortune.
One such letter touted how Duval and Guerin shared “clear visions” that recipients would come into “massive sums of money on games of chance” if they paid US$50 for a “mysterious talisman” and a copy of “My Invaluable Guide to My New Life”. Read the rest of this entry »
Beijing (AFP) – The website of the South China Morning Post, a Hong Kong newspaper being bought by Internet giant Alibaba, has become inaccessible in China during a series of high-level government meetings in Beijing.
Attempts by AFP in China on Friday to open the newspaper’s English and Chinese-language websites returned only error messages saying that the pages could not be displayed.
The scmp.com website was blocked starting on March 3, according to the security website GreatFire.org, which monitors online censorship in China.
China’s Communist Party oversees a vast censorship system — dubbed the Great Firewall — that aggressively blocks sites or snuffs out Internet and TV content and commentary on topics considered sensitive, such as Beijing’s human rights record and criticisms of the government.
Popular social network sites such as Facebook and Twitter are inaccessible in the country, as is Youtube.
Several Western news organisations have accused China of blocking access to their websites in the past, including the New York Times, Wall Street Journal, Bloomberg and Reuters. Read the rest of this entry »
A fifth person affiliated with a bookstore that sells books critical of China’s government went missing last week, raising concerns over Hong Kong’s freedoms.
Fiona Law reports: Hong Kong police are investigating the disappearance of the co-owner of a bookstore specializing in works critical of the Chinese government, that has prompted local lawmakers to voice fears that mainland Chinese law-enforcement agencies crossed the border to detain him.
Hong Kong and foreign media have reported that the wife of Lee Bo, a shareholder of Causeway Bay Books, told police on Friday that Mr. Lee had gone missing and that four people who worked for the bookstore or a publisher affiliated with it have gone missing in recent months, including one who disappeared in Thailand.
“It is terrifying,” said Albert Ho, a pro-democracy lawmaker. “So the mainland police can publicly arrest people in Hong Kong?”
On Sunday, a group of lawmakers and activists marched to the central Chinese government’s liaison office in Hong Kong, demanding answers about the missing people. Read the rest of this entry »
Force backs down after being accused of trying to whitewash the city’s history and role played by pro-Beijing radicals.
Christy Leung reports: The Hong Kong police force has made an unexpected climbdown and is restoring its official account of the 1967 riots after causing a storm earlier this year by deleting parts of it.
A source told the Post the missing details would be reinstated on its archived website as early as Friday, and more historical details would be added to make the account “fuller”.
The U-turn was decided at a meeting of the Police Historical Records Committee yesterday.
It reverses a controversial move in mid-September to revise the official version of the riots, during which pro-Beijing radicals inspired by the Cultural Revolution sought to overthrow the colonial government.
The force replaced phrases like “communist militia” with “gunmen” and deleted detailed descriptions of events such as leftist mobs threatening bus and tram drivers who refused to strike.
Police were accused of trying to whitewash history out of political considerations. They were also ridiculed for claiming there was not enough space to publish full details online.
“[We are uploading the original version] to answer our readers’ calls and have no political agenda behind it,” the source explained yesterday.
“We think people nowadays are not into reading bulky and long paragraphs, but since they enjoy reading the full version, we are bringing it back.”
In addition to the original write-up, the history of women in the force and the Hong Kong Police College will be added to the website.
“We want to make the contents ‘finer’ and ‘fuller’, so that people can have a better understanding of police history,” the source said.
It is understood the committee is still reviewing the content and may upload the original version along with the new information on January 1 at the earliest. Read the rest of this entry »
With the South China Morning Post, Jack Ma’s personal politics will move into a global spotlight, for anyone to see and read in English.
Josh Horowitz writes: After lengthy negotiations, Alibaba founder Jack Ma may be close to an investmentin the publisher of the South China Morning Post, according to reports in Bloomberg, the New York Times, and Caixin.
Neither party has commented publicly about a deal, and it is unclear whether Ma would buy all or some of the SCMP Group. He already has a media empire that rivals Amazon’s Jeff Bezos, and has invested in two US-based social media apps—Tango and Snapchat. But the maybe-pending SCMP bid has already attracted nearly as much attention as any of those done deals.
That’s because with the SCMP, Ma’s personal politics will move into a global spotlight, for anyone to see and read in English.
The SCMP was once the English-language paper of record for reporting on China. Founded in 1903 as the “printing house for the Chinese revolution,” it covered far more than just Hong Kong. Throughout the fifties and sixties, it was often the first source for information about the famines and political clashes of the Mao era. After the country opened up, its multi-national staff would regularly break stories about political scandals and human rights abuses on the mainland, even after Hong Kong was handed over to China in 1997.
Its reporting was rewarded financially. In 1997 it earned HK$805 million (over $200 million) in net profits, about $420 in profit per-reader. Read the rest of this entry »
Woman aged between 50 and 60 entered the restaurant 24 hours earlier, but police were not called for several hours.
A homeless woman lay dead at a Hong Kong McDonald’s restaurant for hours surrounded by diners before authorities were called.
“The subject was certified dead at the scene.”
The woman, aged between 50 and 60, was found dead on Saturday morning and has been held up as an example of the growing number of homeless people who seek shelter in 24-hour restaurants.
“We endeavour to support street sleepers to enhance their self-reliance…the subject is a complex social problem.”
“Officers arrived upon a report from a female customer [that a person was found to have fainted],” said police in a statement.
“The subject was certified dead at the scene.”
Local media said the woman was slumped at a table, 24 hours after she first entered the restaurant in the working class district of Ping Shek.
She had not moved for seven hours before fellow diners noticed something was wrong, according to Apple Daily, citing CCTV footage.
The woman was thought to have regularly spent nights in the McDonald’s, said the South China Morning Post. Read the rest of this entry »
Uniqlo sex video: Police investigate smartphone footage showing couple doing the ‘secret communist handshake’ in Uniqlo’s Beijing flagship store changing room
Laura Lorenzetti reports: A sex tape filmed in a changing room of Uniqlo’s Beijing flagship store went viral on Chinese social media, sending national authorities into a tizzy.
“Uniqlo, which is owned by Fast Retailing, denies any such association, releasing a statement that customers should ‘abide by social ethics, maintain social justice and correctly and properly use the fitting spaces.’”
The short video, which features a black-clad male having sex with a naked woman, was condemned by Chinese officials as going “severely against socialist core values,” according to the South China Morning Post.
Internet censors scrambled to ban and eliminate the clip after it spread across popular social networks like Weibo and WeChat Tuesday. It has reportedly been removed from the Internet by the Cyberspace Administration of China and an investigation has been launched to find out who made the clip.
Chinese authorities have also ordered social media executives to help uncover the source of the video, while Uniqlo has come under fire for using it as a publicity ploy. Read the rest of this entry »
Because that’s how we roll: The Communist Party’s way of doing business is coming to the city
Thankfully, this time there is no bloodshed or widespread mayhem. But Beijing’s local loyalists are using some of the same rhetorical tactics to isolate and intimidate pro-democracy figures.
“Now in Hong Kong opposition politicians and their supporters are routinely accused of consorting with and being funded by foreign powers; of advocating the violent overthrow of the state; and of perpetrating child abuse—the last charge based on the large numbers of young people who joined Hong Kong’s antigovernment protests.”
Back then the search was on for “traitors” who were named, shamed and then terrorized, often to a fatal degree. Now in Hong Kong opposition politicians and their supporters are routinely accused of consorting with and being funded by foreign powers; of advocating the violent overthrow of the state; and of perpetrating child abuse—the last charge based on the large numbers of young people who joined Hong Kong’s antigovernment protests.
“Less-high-profile individuals have also encountered employment problems. RTHK, the public broadcaster, is under relentless pressure to sack certain people. And in privately owned media, columnists have been removed and other journalists have been told that the time has come to toe the line.”
These sorts of accusations are routinely found on the pages of Hong Kong’s increasingly rabid Communist newspapers. While largely ignored by the bulk of the population, these publications are carefully scrutinized by the leaders of the local government because their content enjoys Beijing’s imprimatur.
“The Communist press has also been in the forefront of a wider campaign to “expose” the democratic movement’s leaders, accusing them of being in the pocket of overseas governments and in receipt of illicit funding.”
One of their current targets is Johannes Chan, former dean of the law school at Hong Kong University and a respected professor. His main “crime” is his association with another legal scholar, Benny Tai. Mr. Tai was one of the founders of the Occupy Central movement that morphed into the Umbrella Movement street protests last year.
The communist press has been busy darkly hinting that Prof. Chan is somehow involved in unlawful funding of the protest movement and that he neglected his academic duties. Following these accusations, his appointment to a pro-Vice Chancellor post was blocked.
- Hong Kong’s Occupy Central Plans Civil Disobedience Protest in October
- CHINA’S Ticking Clock: Critical Hong Kong Vote Ruling by Beijing Coming Soon
- Beijing: China Legislature Rules No Open Nominations for Hong Kong Leader
- Hong Kong Democracy Movement Losing Mojo
- Beijing Gets Ugly in Hong Kong
- ‘Insufficiency of Mutual Trust’: Hong Kong’s Pro-Democracy Protesters to Get Pro Bono Aid
Another academic targeted was political scientist Joseph Cheng, who was demoted prior to retirement and threatened with a denial of his pension. The accusations in this instance were even more extreme, ranging from charges of plagiarism to abuse of office.
The Communist press has also been in the forefront of a wider campaign to “expose” the democratic movement’s leaders, accusing them of being in the pocket of overseas governments and in receipt of illicit funding. Read the rest of this entry »
Hong Kong (AFP) – Hong Kong lawmakers rejected a Beijing-backed political reform package Thursday as pro-democracy legislators united to vote down the divisive electoral roadmap that has sparked mass protests.
Most pro-government lawmakers staged a walkout as the bill headed for defeat, with just eight casting their vote in support of the package and 28 voting against it.
Hong Kong is having another umbrella moment.
First there was the umbrella movement last year when young people took to the streets to defy China’s plan for watered-down democracy. Now there is an umbrella maker that’s stunned the stock market.
“It is a bit crazy. The fundamentals do not justify the current stock price.”
— Hannah Li, strategist at UOB-Kay Hian
Jicheng Umbrella Holdings Ltd.1027.HK +13.29% is an unlikely title holder of Hong Kong’s best performing newly listed stock in 2015. At its initial public offering back in February, it received little interest with bankers pricing it at the low end of an indicated price range. But once it got trading it went through the roof, and at one stage last month it rose nearly 20-fold from its IPO price and is still up 14-fold as of Friday.
“It is a bit crazy,” said Hannah Li, strategist at UOB-Kay Hian. “The fundamentals do not justify the current stock price.”
The rally means the company is worth 9.1 billion Hong Kong dollars ($1.17 billion), and is trading at a price-earnings ratio of 100, far higher than the 11.2 for the average of stocks in the Hang Seng index.
Exactly why investors are so keen on an umbrella maker to give it a sky high valuation is puzzling, while its shareholder structure looks even more bizarre. The Securities and Futures Commission, Hong Kong’s market regulator, issued a warning Thursday to investors that just 17 shareholders hold over 99% of the company’s shares (the major shareholder owns 75% of the company). This means a buyer could easily push the stock up substantially as there’s so few owners of the shares.
Ms. Li said while Jicheng’s business is in good shape, the small number of shares held by public shareholders is a major reason for the rally. Read the rest of this entry »
[VIDEO] ‘Seen By My Eyes’ Time Lapse Documentary by Hong Kong Independent Photographer Francis So 我所看見的美麗香港Posted: May 13, 2015
This time-lapse documentary caapturing scenes around Hong Kong, at Kowloon Peak, Yuen Long, Sai Kung, Tai Mo Shan, Po Toi, has swept four awards at a photography contest in Portugal, including top prize in the mountain view.
Chinese Tycoon Wang Jianlin Blames ‘Western Schooling’ for Son’s Comments About Wanting a Girlfriend With Big BoobsPosted: February 25, 2015
Wang Jianlin blames Western education for his son’s controversial remark that potential girlfriends needed to be “buxom”
Wang, one of the richest men in China, used an interview on state television on Tuesday evening to publicly defend his son, whose remark caused a furore on social media and led to condemnation by a state news agency. He also said he preferred to stay away from politics and said businessmen should “refrain from bribes”.
Wang said his son, Wang Sicong , had spent years studying overseas and had got into the habit of speaking whatever was on his mind.
The younger Wang was lambasted after making the remark on Valentine’s Day, with the state-run news agency Xinhua publishing a 1,287-word commentary condemning his remarks.
His father, who runs a property and cinema empire, said he was always ready to “take a hint” from others and not “speak carelessly”, but his son was more direct and had not learnt Chinese subtlety.
“He is smart. He went overseas to study at grade one and he has a Western-style of thinking,” said Wang.
“Maybe after spending five or eight years in China, he will truly become Chinese.”
Wang Sicong, a board member of his father’s Wanda Group and the chairman of the private investment firm Prometheus Capital, is well-known for his outspoken comments on social media.
He made his latest eyebrow-raising remark after helping to raise more than 500,000 yuan (HK$630,000) for charity by auctioning the chance for a member of the public to watch a film with him.
The senior Wang said he wanted his son to succeed in his own right in business, but would give him only two opportunities. “The third time he fails, he comes to work at Wanda,” he said.
The tycoon’s comments appeared to question Western customs and values, echoing remarks by government officials in recent months.
Critics: Hong Kong’s TV Industry Hits New Low with Derivative Talk Show Clone of Shows Like David Letterman, Jimmy FallonPosted: February 3, 2015
Vivienne Chow reports: Hong Kong’s television industry has hit a “new low” as TVB’s latest talk show Sze U Tonight was accused of copying popular American hosts such as Jimmy Fallon and David Letterman.
“A TVB spokesman said Lee had already announced that his show would ‘take references’ from U.S. talk shows. But Lee insisted the show did not copy US shows entirely.”
Critics said the TVB show, hosted by comedian Johnson Lee Sze-chit, reflected the lack of creativity in the city’s TV productions – and even warned the alleged similarities in format and set designs could lead to legal action.
Sze U Tonight, which debuted on TVB Jade on Sunday, features Lee behind a desk interviewing celebrities sitting on a sofa, against the backdrop of Hong Kong’s skyline. It apparently bore a striking resemblance of the likes of The Tonight Show Starring Jimmy Fallon on NBC and Late Show with David Letterman on CBS.
Lee’s desk, complete with an old-fashioned microphone, a pencil holder full of pencils and a coffee mug, was said to look like Letterman’s. The show also has a live band, a signature of Letterman’s show.
“Sze U Tonight risked falling into copyright traps, but it will depend on whether the U.S. networks decide to take legal action.”
Sze U Tonight achieved 16 rating points on Sunday – an equivalent to a TV audience of more than a million, accounting for a 93 per cent share. A TVB spokesman said Lee had already announced that his show would “take references” from US talk shows. But Lee insisted the show did not copy US shows entirely as it featured local content.
The South China Morning Post contacted NBC but the broadcaster has yet to comment on allegations its show has been copied.
Barrister Albert Luk Wai-hung said it was common for TV stations to customise foreign shows. ATV screened quiz show Who Wants To Be A Millionaire? while TVB broadcast The Weakest Link in the 1990s. But ATV and TVB acquired the rights from foreign stations which had originally broadcast them overseas.
Mainland China has also acquired the rights to foreign shows, such as South Korea’s Running Man and Dad! Where Are We Going?
However, it is understood that TVB did not acquire the rights to any of the US talk shows for the production of Sze U Tonight. Read the rest of this entry »
Hong Kong Supporters of Charlie Hedbo Held Silent Protest Outside the Foreign Correspondents Club in Central TodayPosted: January 8, 2015
The identity of the sitter for the portrait hanging in Paris’ Louvre museum has long been a matter of debate. If Paratico’s theory is correct, it means the 15th-century polymath was half-Chinese.
The woman depicted in the Mona Lisa might be both a Chinese slave, and Leonardo da Vinci’s mother, according to a new theory from Angelo Paratico, a Hong Kong-based historian and novelist.
“One wealthy client of Leonardo’s father had a slave called Caterina. After 1452, Leonardo’s date of birth, she disappeared from the documents. She was no longer working there. During the Renaissance, countries like Italy and Spain were full of oriental slaves.”
The identity of the sitter for the portrait hanging in Paris’ Louvre museum has long been a matter of debate. If Paratico’s theory is correct, it means the 15th-century polymath was half-Chinese.
“Mona Lisa is probably a portrait of his mother, as Sigmund Freud said in 1910. On the back of Mona Lisa, there is a Chinese landscape and even her face looks Chinese.”
However, the historian’s claims are tenuous.
The Hong Kong pro-democracy protesters had planned to have some kind of vote yesterday on how they would go forward. But they didn’t. From the South China Morning Post, Hong Kong’s leading English-language newspaper:
Occupy Central protesters and observers yesterday backed an 11th-hour decision to scrap a poll on the way forward for the month-old sit-in, saying the move made it easier to enter into more talks with the government.
Protest leaders announced the U-turn hours before the electronic ballot was to start at 7pm and apologised for not having sufficiently discussed with demonstrators the poll’s methodology and objectives. But shelving it did not mean they had shifted their stance or intended to end the occupation, Federation of Students secretary general Alex Chow Yong-kang said.
Some protesters had said the poll was redundant. A huge banner that called for delaying the poll was hung from an Admiralty footbridge yesterday morning.
Occupy co-founder Benny Tai Yiu-ting said: “The public may feel there are problems with the movement’s organisation and leadership, and we admit that … I promise that in the future, we will give sufficient notice to and discuss with protesters before making a major formal decision.”
For me, the lesson in this story is that “democracy” is not a self-executing political panacea. Democracy has a value — a high value — as ONE element of a fair and well-ordered society. But democracy can only serve its proper function as a check on the tyranny of the state when it operates within a system of well-defined and transparent laws and institutions. It is not surprising to me that the vote called by the protesters did not happen. There was no framework of law and institutional operation within which it could happen.
The smartest lawyers and statesmen in the rebel colonies worked for many months to draft the Constitution of the United States before it was finally implemented. Doing this created the framework of laws and institutions in which democracy operated as only one dynamic part of a system that was crafted after extremely careful deliberation by some of the wisest men who have ever considered these issues. The Framers of the US Constitution did their work after putting in place a temporary structure — the Articles of Confederation — to ensure a stable environment for long enough to work out the permanent “political operating system” for their country. They did not do their work in the heated stress and passion of an armed rebellion against the Crown. They first made an imperfect compromise in the Articles of Confederation to buy themselves the time they knew it would take to work out a truly well-ordered system. My advice to the protesters: study history.
“For me, the lesson in this story is that “democracy” is not a self-executing political panacea. Democracy has a value — a high value — as ONE element of a fair and well-ordered society.”
The problem, of course, is that there is no time for study. The pro-democracy protesters have been improvising and responding to the largely pro-Beijing government’s actions from the beginning. They are working from a base that is fueled by legitimate passion for liberty and fear of tyranny, but without a well-established leadership operating within a widely-recognized and accepted organizational structure.
“But democracy can only serve its proper function as a check on the tyranny of the state when it operates within a system of well-defined and transparent laws and institutions.”
In any conflict, all things being equal, the side with the more easily achieved strategic goal and the larger number of tactical options will prevail. For better or worse, in this situation, the side with both of these advantages is the pro-establishment side. For the pro-Beijing Hong Kong government, the strategic “victory condition” is maintaining the status quo, and they have a broad range of tactical options along the spectrum of patiently waiting out the protesters on one end to forcefully removing them on the other. I fear the pro-democracy side may not really realize this or, if they do, can think of no tactical response other than “keep doing what we’re doing.” Without regard to the merits of either side’s goals, this makes the pro-democracy side’s strategic and tactical position very weak. Unless they realize this and adjust their strategy and tactics accordingly, the outcome for them does not look good.
“In any conflict, all things being equal, the side with the more easily achieved strategic goal and the larger number of tactical options will prevail. For better or worse, in this situation, the side with both of these advantages is the pro-establishment side.”
This grim picture is playing itself out in a situation where the largest number of the anti-establishment protesters are high school and college students, without strong and experienced leadership that has been tested over time, and without any organizational infrastructure to support the building of strategic or tactical consensus. Unless this situation changes, it looks increasingly unlikely that the pro-democracy movement will put itself into a situation where it can achieve a real “victory.” If their only tool is a “passion for democracy,” they cannot prevail.
“In his post, Lo comments in Chinese: ‘A super quick way to wash a dog: soak, clean, and dry. All done. Clean and quick!'”
For South China Morning Post, Hazel Parry reports: A man being investigated over a Facebook post featuring photographs of a dog churning in a washing machine claims to have fled to the mainland. The man, who goes by the name of Jacky Lo, posted a status update yesterday in which he bragged that he was on his way out of Hong Kong as pressure mounted for him to be punished.
“In response to a comment underneath asking if the dog was dead, Lo answers: ‘Yes! Do you want to see it!'”
The post included a link to the online petition urging the police to bring him to justice, with Lo commenting: “Wanted?? This afternoon I’m going back to China. See ya later.”
“His latest remarks have brought more criticism online, with people calling him a ‘weak bully’, ‘shameless’, ‘sick’ and a ‘monster’.”
The pictures, which show a small white dog submerged in water and being spun around helplessly in the washing machine, have sparked outrage, with about 14,000 people signing the petition.
In his post, Lo comments in Chinese: “A super quick way to wash a dog: soak, clean, and dry. All done. Clean and quick!”
He then add a smiley icon and the words “feeling content” in English.
— SCMP News (@SCMP_News) August 16, 2014
A look at the extensive business interests of Zhou Yongkang, after the former security chief was placed under formal investigation, shattering the decades-old political taboo of not prosecuting the highest ranking Communist Party officials for corruption.
”These are all my children, my babies.”
Most people hate cockroaches and would do just about anything to keep them out of their homes. But that is not the case for one woman.
“They are most active at night, mating and hunting for food. They mate with each other after eating. The mating process lasts for two hours, and then spawning happens. Every spawn hatches dozens of baby cockroaches.”
— Yuan Meixia
She breeds them and raises them so she can sell them to a pharmaceutical company, which uses them for medicine. She lives in separate home, but visits the breeding home everyday. She was inspired to start breeding them after she saw a program on television which talked about their potential healing properties.
”These are all my children, my babies,” she says to a Southern Metropolis News reporter on a tour of the facility in Linbian village. Yuan resides at another house in Siqian county, but visits the breeding house every day. Read the rest of this entry »
A bus stop has been built on the Jiefang South Road where several thousand Han people marched with knives and sticks, seeking revenge on the Uygurs, but were stopped by officers of the People’s Armed Police with tear gas. Elderly women wearing red armbands sat on chairs at the bus stop yesterday, watching passers-by, while squads of armed police patrolled the area.
A Uygur who owns a grocery shop on the Xinhua South Road said his business was affected for several months after the riot in 2009, as the road was the worst-hit part of the city.
“Uygurs would be regarded as terrorists after the July 5 incident, if men wore a beard or women wore a kerchief, a veil or a gown,” he said. “Schools are teaching children not to believe in religion.
“We’re so depressed and feel unable to breathe,” he said. [Source]
The 2009 riots erupted from protests over the deaths of two Uyghur migrant workers in southern China, which ignited a cocktail of existing grievances. At Dissent Magazine, Nick Holdstock examines the triggers of this and earlier incidents, from which he argues authorities have learned the wrong lessons:
Four years later, what are the prospects for further unrest in Xinjiang? In as much as anything in China (or elsewhere) can be said to follow a pattern, there have arguably been broad similarities between the causes of, and responses to, the Urumqi protests and previous ones in Xinjiang.
Chris Luo reports: US television network ABC has issued a formal apology for allowing the comment “Kill everyone in China” to air on its late-night show Jimmy Kimmel Live, which has provoked outrage from Chinese communities around the world.
“We offer our sincere apology,” read a statement from ABC obtained by South China Morning Post on Saturday. “We would never purposefully broadcast anything to upset the Chinese community, Asian community, anyone of Chinese descent or any community at large…our objective is to entertain.”
The statement, signed by Lisa Berger, ABC Entertainment’s executive vice president who oversees the Jimmy Kimmel Live show, and Tim McNeal, vice president of ABC’s talent development and diversity branch, added that ABC had removed the controversial comment from all media platforms and would edit the comment out of any future airing of the show.
Video: Jimmy Kimmel’s show stirs controversy with comment about killing Chinese
This is the first known apology the television network has issued over the controversial skit originally aired on the “Kid’s Table” segment of Kimmel’s late-night talk show on October 16. It showed a young boy who suggested that the US should resolve its debt crisis by “killing everyone in China.”
Cyberspace-based organisation 80-20 Initiative in US that promotes equal opportunities for Asian Americans said the apology was a result of its “hard negotiations”.
Video: Jimmy Kimmel’s on-air apology for comment about killing Chinese
S.B.Woo, the organisation’s chairman and of Hong Kong-origin, told the Post by telephone that he immediately lodged a protest with the television network as soon as he found out that the Jimmy Kimmel Live programme was actually not live.
Beijing is in search of a red planet–and it’s not Mars
Gordon G. Chang writes: After howls of protests from both American scientists and Beijing propagandists screaming “discrimination,” NASA has reversed its initial decision to exclude Chinese nationals from the Kepler Science Conference at the Ames Research Center in California early next month.
The reversal came after Representative Frank Wolf (R-VA), the author of legislation restricting contacts between NASA and China, indicated the Chinese should not be barred. “The congressional provision — which has been in place since early 2011 — primarily restricts bilateral, not multilateral, meetings and activities with the Communist Chinese government or Chinese-owned companies,” he wrote to NASA on the 8th of this month. “It places no restrictions on activities involving individual Chinese nationals unless those nationals are acting as official representatives of the Chinese government.”
Nearly all Chinese media outlets have blocked out reports on the incidents and are removing pictures and clips taken from the explosion in Beijing. They don’t want negative reports to deter potential investors and foreigners and affect trade relations. So, if they don’t want a future with daily events like this they better block out muslims from their country. As usual the muslims in China whine about “discrimination”. What does discrimination mean in muslim language? It means that if they don’t have full blown Islam in any country they go to or live in, they ‘feel mistreated’ and demand that the entire society bend and conform to their demands. They take no responsibility of their own behavior but continue with the same aggression and savagery we see everywhere they are.
Only one media outlet (South China Morning Post) dwelled deeper on the investigation: “There were some suggestions that police were looking at suspects from the Uighur community, Muslims from the northwest of China.”
(more) Published: October 29, 2013 | New York Times
BEIJING — The Chinese authorities investigating a deadly episode near Tiananmen Square appeared to be focusing on suspects from Xinjiang, the region in China’s far west that has been the scene of increasingly violent resistance to Beijing’s hard-line policies. Officials increased security at pivotal intersections, subway stations and tourist sites across the capital on Tuesday. But they remained conspicuously silent about an incident that many Chinese believe was a deliberate attack on the political and symbolic heart of the nation.
A Chinese healer, who was linked to the deaths of more than 140 people in the 1990s, has been arrested for killing a 23-year-old college graduate with poisoned soup just two years after his release from prison.
Patrick Boehler reports: China’s government and state-owned companies are putting more pressure on media outlets around the world to prevent and punish reporting critical of Beijing, a US-based think tank has said.
“These measures obstruct newsgathering, prevent the publication of undesirable content, and punish overseas media outlets that fail to heed restrictions,” the National Endowment for Democracy in Washington DC writes in a report released on Tuesday.
“Indirect pressure [is] applied via proxies – including advertisers, satellite firms, and foreign governments – who take action to prevent or punish the publication of content critical of Beijing,” it said… Read the rest of this entry »
Social media platforms over the weekend were brimming with sarcastic critiques of Fukushima’s newest unofficial mascot, Fukuppy, after a local refrigerator manufacturer in the disaster-struck prefecture unveiled their latest publicity creation.
In a 9,000-words-piece published on the website of “Party Building,” a magazine that claims to be overseen by China’s Central Propaganda Commission, a self-proclaimed macroeconomics analyst unleashed an all-out attack on ex-Google China chief Lee Kaifu. Titled “Ten Questions for Lee Kaifu,” the article questioned Lee’s work experience and citizenship status, accused him of forging family history, and criticized his public commentaries and political leaning.
It went so far as to query if Lee, a Taiwanese who relinquished American citizenship in 2011, is in fact ill from lymphoma, and if the purpose of his stay in Taiwan is indeed medical treatment. Lee, 51, announced that he was diagnosed with lymphoma in early September and has since withdrawn from work to undergo chemotherapy in Taiwan.
The article was first published last Tuesday but only began to gain traction on Friday, after Chinese news outlets such as Sina.com, South China Morning Post and Xinhuanet.com picked it up. In just one day, the number of search results of “Lee Kaifu and Ten Questions” on Weibo has nearly doubled to more than 130,000. Whereas most Weibo responses stood behind Lee, almost all comments marked “popular” on Sina.com, which may be more strictly censored, supported the article or demanded Lee’s response. As of today, Lee has not made any mention of the article on his Weibo account. Phone calls and an email to spokesperson Wang Chaohui at of Lee’s company went unanswered.
Abstract master Zao Wou-ki, one of China’s most significant artists whose works routinely fetch millions of dollars at auction, has died in Switzerland aged 93.
Zao, who suffered from Alzheimer’s, died on Tuesday and had been in hospital for 10 days in the western Swiss town of Nyon, his widow’s lawyer Marc Bonnant told Reuters.
[…]“He mixed Western influences with his Chinese identity to give his work a universal scope,” [French Foreign Minister] Fabius said in a statement. “With him, we are losing an emblematic figure of lyrical abstraction whose work made an outstanding contribution.”
The New York Times outlines Zao’s emigration to France, his artistic lineage, and the popular reception of his work in the west:
Mr. Zao, who was born in Beijing in 1921, moved to France in 1948, just before the 1949 Communist takeover of China. He became a French citizen in 1964.
[…]Mr. Zao’s abstract works — influenced by both European abstraction and traditional Chinese brushwork — quickly drew the attention of galleries in New York and Paris, where he was regularly showing by the 1950s. He befriended contemporaries like Alberto Giacometti and Joan Miró. Read the rest of this entry »