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New York city is one in every of the world centers of international finance, politics, communications, film, music, fashion, and culture, and is among the world’s most vital and prestigious cities. The City of New York contains a complicated park system, with varied lands operated by the park Service, the big apple State workplace of Parks, Recreation and Historic Preservation, and also the big apple town Department of Parks and Recreation.
New York town has over 28,000 acres of municipal piece of ground and fourteen miles of public beaches. Jack Ma, chairman of Alibaba Group Holding Ltd, has canceled a speech at an anti-counterfeiting conference in the United States after the trade group behind it suspended the e-commerce giant's recently gained membership. Alibaba has been dogged for years by accusations that its online shopping platforms were conduits for counterfeiters and critics say it has not done nearly enough to stop the problem. At least three members of the Washington-based International Anti-Counterfeiting Coalition, including board member Tiffany & Co, quit the group in protest and others threatened to leave after Alibaba was admitted as a member in April. On Friday, the IACC suspended the new category in which Alibaba was admitted, effectively terminating its membership. Alibaba Group President Michael Evans will speak at the conference in Orlando, Florida instead. Kuperman reiterated Alibaba's stance that it is "firmly committed to the protection of intellectual property rights and combating counterfeits". On Tuesday - the same day as the cancellation - Ma had lunch with US President Barack Obama at the White House, an Alibaba source with knowledge of the situation said.
China's biggest e-commerce firm has pledged to fight fake goods and has hired an army of employees to root them out, but many brands say the problem is still widespread, particularly on the hugely popular shopping site Taobao. In a letter to the IACC explaining its decision to leave the group, luxury brand Michael Kors called Alibaba "the largest marketplace for counterfeit merchandise the world has ever seen" and blasted the IACC for providing "cover to our most dangerous and damaging adversary". Last week Taobao said it was tightening controls on the sale of luxury goods, requiring sellers to show proof of authenticity as a way to try to combat the sale of fakes. Jack Ma, chairman of Alibaba Group Holding Ltd, attends a joint meeting on strategic cooperation with the city government of Hangzhou, capital of Zhejiang province. Market researchers looking at the sector said that new lifestyle concepts are being adopted by Chinese consumers, such as "afternoon tea", "coffee break", and "office pantry". And analysts said these have driven the growth of consumption of dairy food and beverages, transforming food consumption habits. They added that helping to sustain the rise in demand are creative new food and beverages which are now finding favor with Chinese consumers.
The managing director of Fonterra's China operation, Christina Zhu, said Anchor Food Professionals would provide western restaurants, bakeries and casual dining restaurants in China with different products ranging from cream and cheese to butter, and the company would also help businesses with their product presentation, pricing, and promotions.
Analysts say that a wide variety of western food and beverages have been penetrating the Chinese market and that consumers' demand for bakery products, such as cakes, bread, dairy drink and desserts such as icecream, is growing fast, which in turn is attracting more players to compete in the developing market. A research note from China Galaxy Securities Co Ltd said young consumers are particularly frequent visitors to bakeries.
Yu said her average spend in bakeries has increased from around 30 yuan per week five years ago, to 200 yuan now. Food sector experts say they have also seen growing consumer interest in homemade bakeries, another driver of the general growth in dairy goods consumption in the country.
Drawing on its ties with the government, the bank said it has built databases of information on Chinese small and medium-sized enterprises in different provinces. The BOC said it is offering a series of matchmaking services to Chinese and foreign SMEs according to their demands.
Gao Yingxin, executive vice-president of BOC, said on Tuesday Chinese SMEs have a wide market but they still need to improve the level of their technologies. Last year, the BOC held 11 matchmaking fairs both in and outside the country to promote SME cross-border investment and trade cooperation.
During the fairs, the bank arranged more than 4,500 one-on-one meetings, which led to nearly 3,500 cooperation agreements. Ulrich Spiesshofer, its chief executive officer, said such products can be used effectively across a huge range of services, from cleaning and assembly operations within the chemical and automotive sectors, to working at height or at depth, where human workers face safety risks. As the Chinese population has grown wealthier, and more people live in cities, many service and labor-intensive industries have started to struggle to find sufficient numbers of workers, and have seen rising employee turnover rates. The country's automotive, chemical, communication and consumer electronics product manufacturing sectors have been among the hardest hit, putting growing pressure on companies to increase their investment in fully automating factories. Spiesshofer said ABB's plans to expand its advanced robotic technology capability in the service industry is in line with the government's flagship "Made in China 2025" strategy, which is aimed at upgrading the country's economic structure. He claims that with 80 percent of its robot models, and 90 percent of all its robots sold in China already locally produced, ABB is the only multinational to "localize" its robotics value chain, including research and development, production, sales, engineering and services. The Swiss firm employs 18,000 in China and operates 40 local firms across a sales and service network in 147 cities. And it is working hard at building close ties with local universities and research institutes to develop new growth drivers in the region's fast-growing automotive, shipbuilding and railway transportation markets.
Zhang Bin, chief expert in world economic forecasting and policy simulation at Chinese Academy of Social Sciences, said the efficient use of robots will play a crucial role in China's future economy.
According to Zhang Xiaoning, deputy secretary-general of Shaanxi provincial government, during the recent 5-day Silk Road International Exposition held in provincial capital Xi'an, the authorities signed contracts worth $11.7 billion with foreign partners, and 681 billion yuan ($104 billion) with domestic investors. Despite a slowing domestic economy and weak global demand, Zhang said the scale and scope of those deals is significant. Attending the Xi'an expo, Woo Jeong-hwan, director of South Korea's Trade-Investment Promotion Agency in China, said 70 percent of all cooperative projects between the province and South Korea now involve electronics-related activity. South Korea is now Shaanxi's third-largest trade partner and volumes have been growing steadily since the electronics giant Samsung Corp invested $7 billion in a semiconductor chips factory in Xi'an in 2012. Boosted by that spend, and the free-trade agreement signed in June last year between the two nations, Woo said he is confident the contribution of that accord to both the Shaanxi and South Korean economies will continue to grow. By late last year, South Korea had invested $5.6 billion in 244 projects in Shaanxi, accounting for around 19 percent of the province's total foreign investment. Zhou Weiqian, deputy chief of Xi'an Customs, said the China-South Korea FTA had helped Chinese people enjoy Korean products such as cosmetics, electronic appliances and foods more conveniently.
It said the strategic cooperation will speed up the application of the world's advanced VR technologies in China's broadcasting, TV and video sectors. Wang added that the use of VR technology as a visual experience would change the ways people receive information from all dimensions. Founded in 2000, Sumavision is mainly engaged in the research, development, production and technical services of digital television software and hardware products.
Zheng Haitao, the founder and president of Sumavision, said the most crucial part of the broadcasting and television sector now lies in live broadcast, and live VR was a very meaningful area for them. VideoStitch focuses on the production of VR video content, especially bringing live 360-degree video content creation software to content producers all over the world. Founded in 2012, the company has offices in Paris and Silicon Valley in the United States, and has over 1,000 customers in 45 countries, including Facebook Inc, Google Inc and YouTube. The VR market is growing rapidly and a number of Chinese enterprises are moving into the sector, investing in handsets and related devices. Goldman Sachs Group Inc has estimated that film, television and entertainment and live video will be an important application field in the sector, along with the games industry, with its market size reaching over $7 billion by 2025.
Sumavision's Wang said he hoped that Chinese families could watch entertainment programs and sports events through VR live video technologies in future, and believed the cooperation with VideoStitch will bring about new business opportunities for both parties. A woman plays a VR game provided by the VR device supplier HTC Vive at a mobile internet expo in Beijing.
The Shanghai-based logistics provider is working with China International Capital Corp, HSBC Holdings Plc and JPMorgan Chase & Co to arrange the share sale in Hong Kong, according to the sources. Proceeds from the offering could help Anji benefit from growing vehicle demand in the world's biggest car market. Anji is preparing a Hong Kong IPO amid the slowest start for new offerings in the city since 2013, according to data compiled by Bloomberg.
The logistics unit is studying the feasibility for an overseas listing, SAIC said in a statement to the Shanghai stock exchange last week, which didn't provide further information. Chinese mainland stocks on Wednesday declined to their lowest level in two months, amid weak investor sentiment about prospects for the Chinese economy. Technology stocks, power equipment manufacturers, shipbuilding and materials shares led the decline.
Analysts said that Wednesday's decline could reflect fragile investor sentiment about prospects for the economy after key data for April released over the weekend showed weaker than expected growth in industrial production, fixed-asset investment and retail sales.
Such is the whipsawing sentiment on China's outlook," said Jeremy Steven, Asia Economist at Standard Bank. The benchmark Shanghai index has declined 21 percent this year, making it the worst performer among the 93 benchmarks tracked by Bloomberg. Guo Yanhong, a strategist at Founder Securities Co said that Wednesday's market slump also reflected the rising confusion of investors over Beijing's policy direction after a recent article by the People's Daily, citing an unnamed authoritative person, stressed an "L-shape" economic recovery path and criticized using leverage and massive credit easing to stimulate growth. The stock selloff on Wednesday also came after media reports suggested that the securities regulator is mulling new rules to curb the trading leverage of the hedge funds, subsidiaries of mutual funds and asset management firms. More than 2,000 Chinese sturgeon, a protected and precious species of fish, have been released into waters at the upper reaches of the Yangtze River in Yichang, Hubei province, to improve the river's ecological system. The endangered Chinese sturgeon are often called "aquatic pandas", because they are considered a living fossil whose origin is believed to date back millions of years to prehistoric times and the age of dinosaurs.
This is the 58th time that the rare species has been set free into the river by China Three Gorges, a State-owned power giant, which set up the country's first sturgeon research initiative in 1982.
He said some 60 Chinese sturgeon were found near the Gezhou Dam for reproduction in 2014 but it was unable to be determined whether they were bred naturally or artificially.
The tracking systems now connected to six vigorous selected sturgeon under the latest initiative are designed to obtain data about their environment as was their swimming patterns, Jiang said.
The building of the dam on the river's upper side has blocked the passage to the Jinshan River, the habitual breeding ground of the fish.
The institute says it has been doing a great deal of research on artificially inseminating and spawning cultured Chinese sturgeon to save the species from extinction. CTG, the Beijing-based power utility, has spent 200 million yuan ($30.7 million) on research and associated activities over the past 30 years. More than 5.5 million of the fish bred in captivity have been released into the wild over the past three decades, according to the company. President Xi Jinping has said that Yangtze River ecological restoration should focus on extensive protection, not engage in large-scale development. Cao Wenxuan, the academic and aquatic species researcher from the China Academy of Sciences, said artificial breeding is an important way of protecting and developing Chinese sturgeon and a measure to maintain the diversity of the river. Authorities release Chinese sturgeon and other species of fish into the Yangtze River in Yichang, Hubei province.
On April 29, together with London-headquartered Plan International, one of the world's largest child-centered humanitarian development organizations, AkzoNobel announced the Youth Employment Solution for You Project.
Western China is experiencing rapid urbanization, which has created markets for many industries.
As one of the major cities in western China, Chengdu is home to about 2.2 million rural migrant workers. According to official statistics, 60 percent of rural migrant workers are members of the post-80s and post-90s generations. She said Plan International has identified youth employment as a priority program in China. For the first year of the project, 200 vulnerable young men and women will receive market-oriented vocational training.
The training will cover five areas, including barista training, automotive technician training, room attendant training, restaurant service training and Shu embroidery training, with training in each category lasting for three to eight weeks. Four local employees from AkzoNobel will participate in the life skills training to share their experiences in terms of career development, job seeking and communication skills with the young trainees.
Ruud Joosten, Executive Committee member responsible for Decorative Paints at AkzoNobel, said education strengthens the cities that people live in, work in and connect with.
Chang Cheng, sales manager of a consumer goods company in Chengdu, said his department would like to hire migrant workers, but they often require a longer time to gain the professional skills necessary to fit in compared with local talent. A launch ceremony for the mother and infant health development fund "Breast-feeding for Love", was held in Beijing on May 14. Four hundred people took part in the "Wujiang Run" on May 14 in an ecological park in Suzhou, Jiangsu province. More than 30 Taobao e-shops have been set up by farmers in Jingyuan county, Gansu province, following efforts by Alibaba Group Holding Ltd to boost the local economy by offering business training to startups. A second conference and workshop on treating children with thalassemia, a form of inherited blood disorder, took place in Liuzhou, Guangxi Zhuang autonomous region on May 14. The Zhifuqu Disabled Person's Federation of Yantai, Shandong province, has held its 26th National Day for Helping the Disabled, during which handicrafts made by children were sold to raise cash for the physically challenged people.
A larger shareholding in KUKA AG, a leading global supplier of intelligent automation solutions, will help facilitate the "smart" strategy of Midea Group, one of China's leading industrial groups in consumer appliances, heating, ventilation and air-conditioning systems, according to a top executive of the Chinese company.
According to Fang, the Chinese home appliances maker would like to have a meaningful stake in KUKA above 30 percent, making Midea the biggest shareholder, ahead of Germany's Voith, a maker of industrial equipment.


In line with the applicable regulatory framework, the increase of the shareholding requires an offer for all issued shares in KUKA AG, according to the Midea. Trading of Midea's shares was suspended in the Shenzhen Stock Exchange on Wednesday, while KUKA shares jumped 33 percent to 112.60 euros in Frankfurt at around 9 am, according to Bloomberg.
The intended offer is in line with Midea's "smart" strategy, which was launched in 2015 and aimed to upgrade the largest Chinese home appliances maker's manufacturing competencies and develop more smart home devices, according to Fang. One of KUKA's key strategic focus areas is the broader robotics market in China, an area in which Midea also sees substantial growth opportunities driven by rising labor costs and an aging population, according to Fang. KUKA has already expanded its Asian presence in recent years, with a factory being established in Shanghai in 2013 and already having helped Midea to automate its factories. By 2020, KUKA plans to grow sales to 1 billion euros in China, according to the German company sources.
Lin Jiang, a professor at the Guangzhou-based Sun Yat-sen University, said Midea's increased shareholdings in KUKA would help bring more automation and smart solutions for traditional manufacturing in the Pearl River Delta. Reporters visit consumer appliances maker Midea Group, which is based in Foshan, Guangdong province.
Li Jianning, Pearl River Piano's vice-chairman and general manager, said the purchase will ensure Schimmel can continue to be independent, and continue to manufacture some of the world's highest quality pianos.
Yang Weihua, secretary of its board of directors, added the purchase will also help raise his own products to a higher level. The German piano maker builds its instruments at two factories in Germany and Poland, and those operations will be unaffected by the acquisition, the statement insisted.
Schimmel sells around 2,200 pianos annually worldwide, giving it a 10 percent global share. Pearl River Piano celebrates its 60th anniversary this year, and is believed to be the world's largest manufacturer, selling 131,590 of the 135,432 pianos it produced last year.
It claims to have produced 35 percent of China's pianos and a quarter of the world's, after selling more than 2 million in its lifetime. Zhu Wenyu, chairman of Shanghai Best Friend Music Culture Co Ltd, China's largest domestic piano retailer, said the local market has grown substantially in the past three decades. The Ministry of Commerce said it would fight for fair treatment for its steel companies through the World Trade Organization's settlement mechanism.
The US Commerce Department said on Tuesday that China's cold-rolled flat steel products were being sold in the US market below cost and with unfair subsidies.
The duties will increase by more than fivefold the import prices on Chinese made cold-rolled flat steel products, which brought in $272.3 million of sales there in 2015. China's Ministry of Commerce said the US has adopted unfair practices during anti-dumping and anti-subsidies investigations on Chinese products, which severely harmed the rights of Chinese enterprises to formally defend themselves.
The ministry said that because the US refused to levy separate rates on Chinese State-owned enterprises, the companies were forced to give up on their response to the probe, which has resulted in high punitive taxes on steel products from China. Cold-rolled steel is used in automotive body panels, appliances, shipping containers and construction. He said the ruling will not affect Chinese steelmakers in the short term since their steel exports to the US market had already fallen to less than 1 percent of total steel exports. But experts said the Chinese government and companies should be prepared for further talks with the US on the issue, taking the issue seriously, in case it spreads to other types of products. Any trade protection practice can trigger disputes between the two countries and lead to global trade war, he said. China's Ministry of Finance said on Wednesday that it will maintain its tax rebate policy for steel exports as part of its efforts to help the sector tackle its longstanding overcapacity problems. In an exclusive interview with Reuters on Tuesday, Guo said his group - which up to now has largely targeted companies in developed markets - was also turning its focus to investment opportunities in emerging markets. Guo also said things were "back to normal" following an incident in December when he was briefly reported missing, with Fosun's president saying Guo was helping police with an investigation.
Fosun has spent about $30 billion in the past two decades outside China, mainly acquiring insurance and real estate assets in Europe and the United States, as well as making investments in the likes of tourism group Club Med and Canada's Cirque du Soleil. Despite building up hefty debts in the process, Guo made clear his continuing interest in consumer-led sectors, saying they offered strong value. Last month, Moody's credit rating agency restored its outlook on Hong Kong-listed Fosun International's Ba3 credit rating to stable from negative, reflecting its expectation that the group "will prudently manage its expansion and strengthen its financial discipline". Farm produce prices fell for a sixth consecutive week last week, the Ministry of Commerce said on Wednesday. China's property sector continued to recover in April, with more cities reporting month-on-month rises in new home prices, an official survey showed on Wednesday. Chinese mainland is the fastest growing mutual-fund market in Asia and will hold that position for the foreseeable future, Fitch Ratings said on Wednesday in a report. Evergrande Real Estate Group Ltd, a Hong Kong-listed property developer, proposed to change its name to "China Evergrande Group" in an announcement on Tuesday night.
A Chinese semiconductor company has filed a trademark rights suit against three companies, including US-based Qualcomm Incorporated, claiming compensation of 100 million yuan ($15.3 million). Alipay, China's biggest third-party payments system, faces a setback in its push to expand overseas as the central bank tightens rules on the money kept in accounts.
The US industrial production in April surged at the fastest pace in more than a year, a sign that the US economy will bounce back in the second quarter, the Federal Reserve said on Tuesday. US new home starts and building permits rebounded in April, a signal that housing market may gain some momentum after a sluggish first quarter. The Japanese government said on Wednesday that its gross domestic product grew an annualized 1.7 percent in real terms in the first quarter of 2016. Innovations from students across the Taiwan Straits on display at an exhibition in Fuzhou, capital of Fujian province. Baijiu, the Chinese liquor distilled from grains including sorghum, wheat and rice, is the most consumed spirit in the world.
In the summer of 2014, four expatriates - William Isler, Simon Dang, Matthias Heger and Johannes Braun - opened a small bar in a historic hutong in central Beijing, and claimed it is the world's first bar dedicated to baijiu. Named Capital Spirits, it has soon became a hotspot among the expatriates, thus challenging the notion that baijiu is failing to attract foreigners and young Chinese.
The bar created such a buzz in the capital that executives from the country's main baijiu producing regions in Sichuan and Guizhou provinces travelled to Beijing to see the phenomenon with their own eyes. The quartet decided to set up a consulting company to help Chinese baijiu companies with their internationalization plans so that the clear liquor could start the conquest of foreign markets. Their main focus is to select baijiu brands with taste profiles that are more acceptable to the Western palate and then rebrand them for the international market. Although they refuse to disclose the names of the companies they have signed contracts with, they hint that big baijiu producers are ready to expand to new markets.
Last year, total retail sales of baijiu reached 508 billion yuan ($78.7 billion), according to market research firm Mintel.
The huge size of the domestic demand has traditionally discouraged local producers to pursue other markets. However, a nationwide austerity campaign that started in 2012 had impacted sales of the high-end liquor in the domestic market, forcing manufacturers to look at foreign markets. Although growing slowly, exports of the distilled drink are still insignificant compared with national consumption.
In the January-September period of 2015, China exported baijiu worth 2.9 billion yuan, according to national statistics.
Making the drink popular in the West remains a crucial strategy for baijiu producers to win the hearts of Chinese millennials back home. Matt Trusch, CEO of Byejoe, an American producer and distributor of baijiu mix drinks, is among the increasing number of foreigners involved in spreading the baijiu culture overseas. Trusch set up his company in 2013 to take on the mission of placing the high-alcohol drink in every international bar.
Trusch, who lived in Asia for 15 years, imports a light red sorghum baijiu base from China and then re-filters it in a distillery in Houston to take away impurities and to mix it with other ingredients.
The company's bestseller is Dragon Fire, a baijiu drink containing dragon fruit, lychee and hot chilies. Although Byejoe's initial goal was to convince Westerners to drink baijiu, Trusch realized that many young Chinese consumers were also interested in trying the mix drink.
Although Byejoe refuses to disclose annual revenues, the company says the business is expanding quickly, registering an annual average growth of 300 percent.
Their drinks are now distributed to restaurants, bars and liquor stores in 15 states in the US, including a supply agreement with Disney World in Florida. Byejoe, which has already expanded to Hong Kong, says it has also received expressions of interest from importers in Switzerland, the United Kingdom and Spain. Los Angeles-based CNS Imports, one of the oldest and largest baijiu suppliers in the US, has been importing top baijiu brands from China for over 35 years.
The importer prides itself in having more than 200 products in its portfolio, from the ultra premium Moutai brand to HKB, a special blended mix drink designed for Western palates. Steaven Chen, COO at CNS Imports, explains that when his parents started the company in the 1980s, they mainly focused on selling the liquor within Chinatowns.
Chen and his sister took up the baton to focus on educating the West on the high-proof spirit, noting that US consumers are increasingly keen on the drink.
CNS anticipates positive sales growth of the liquor among both the Chinese community overseas and the mass market, with the general market carrying a much higher long-term potential. Industry experts note that most foreigners find it extremely difficult to pronounce and remember the names of China's main brands, requiring producers to come up with more international names if they want to crack foreign markets.
Additionally, baijiu bottles are in desperate need of more cosmopolitan and interesting shapes to appeal to international audiences. However, Western consumers do not have any cultural attachment to the liquor and tend to clash with the traditional baijiu drinking ritual. In China, consumers of the liquor are encouraged to drink glass after glass, yet this custom can be considered excluding to those who prefer to slowly enjoy their spirits.
Women have also often felt excluded in the practices of drinking the liquor because they prefer to consume spirits with lower alcoholic content and sweeter flavors.
Capital Spirits believes that most producers of the white spirit have failed to understand that there is a need to first educate consumers in the West about the drink and the way it is consumed. China's largest baijiu producers have been generally reluctant to introduce new flavors or to enter the ready-to-drink market. Chinese like very strong smells in baijiu and that is not necessarily something appealing for foreigners. Infusing flavors and using drink mixes are expected to help foreign consumers to assimilate the drink faster.
Workers at the production line of the famed baijiu Moutai at Moutai town in Guizhou province.
China will have a "huge" demand for robotics professionals as the world's second largest economy is trying to upgrade its labor-intensive industry with technological innovation, said the chief of China's largest robot manufacturer by market value. A technician commands an industrial robot at the workshop of Ruihong Robot Ltd in Jiaxing, Zhejiang province. Qu's comment came as China is planning to triple its annual production of robots used in the manufacturing sector to 100,000 in five years. Currently, the country is already the world's largest market for industrial robots, accounting for a quarter of global sales, according to the International Federation of Robotics. Qu said China is in great need of world-level robot research and development teams as well as high-end technicians, as companies across the country are cranking up the automation of factories. In February, Siasun bought Teutloff Training and Welding Education Non-profit Ltd Liability Company, a leading German mechanical engineering vocational school, for an undisclosed sum. The deal, which Siasun said is the first full Chinese acquisition of a German vocational institute, will give the company, based in Shenyang, Liaoning province, access to Germany's decades of experience in vocational training. It is also part of Siasun's broad efforts to compete with foreign heavyweights such as ABB Ltd, and KUKA Robotics Corp in China, where many corporate clients know little about operating robots and therefore extra technical training will help boost sales. On Tuesday, Boston Consulting Group Inc said in its latest report that China's efforts to boost manufacturing prowess will reshape the country's labor landscape, affecting around one million jobs in the near future. According to Du, China has already cultivated a big pool of efficient workers after three decades of rapid growth in the manufacturing industry. China's intensified efforts to promote the use of industrial robots also came amid a looming labor shortage, which has spurred a surge in labor costs in the world's most populous country. Christian Guse, principal at BCG, said cutting-edge products will make it easier for Chinese companies to nurture qualified employees. Upon completion of the acquisition, ICBC, China's largest commercial lender by assets, will become the first Chinese bank to have a vault in London, which is one of the largest precious metals vaults in Europe, the bank announced on Monday evening. By owning a precious metals vault, ICBC Standard Bank will be capable of providing a precious metals clearing service. ICBC will gain the ability to provide one-stop precious metals services across the entire process, which includes clearing, market making, pricing fixing, vaulting and risk management.
Earlier in May, ICBC Standard Bank was approved to join a precious metals clearing system operated by London Precious Metals Clearing Ltd, becoming the first Chinese bank to provide clearing services for London's precious metals market.


ICBC is the first banking group to be admitted to London Precious Metals Clearing Ltd since 2005, joining the other five members - Barclays, HSBC Holdings PLC, JPMorgan Chase & Co, the Bank of Nova Scotia and UBS AG.
Apart from the clearing service, ICBC Standard Bank will have the opportunity to play an important role in providing precious metals commodity leasing and financing intermediary services, according to analysts. Since the start of its precious metals business in 2009, to the end of March, ICBC has recorded nearly 730,000 tons of total metals trading volumes with the value of transactions exceeding 7 trillion yuan ($1.07 trillion). The bank has built a global investment management platform for precious metals and commodities while steadily pushing forward its business in core international financial markets. Barclays, meanwhile, has decided to exit the precious metals business in the wake of US and European Union regulators examining whether at least 10 banks, including Barclays, JPMorgan Chase & Co and Deutsche Bank AG, manipulated the prices of precious metals.
The report shows Chinese buyers paid a higher price for condos, homes and apartments than other foreign buyers, according to figures from the National Association of Realtors, which recorded the average price paid by Chinese buyers in 2015 was $831,800, compared to $499,600 for other international buyers. Arthur Margon, one of the authors and a partner at independent real estate economics consultants Rosen, said: "This wave of investment is coming from diverse sources in China. The study also reveals China is the biggest foreign holder of mortgage-backed securities issued by US government-sponsored enterprises such as Fannie Mae and Freddie Mac, with a total of $207.9 billion, up from $20 billion in 2000.
Since 2010, the report claims nearly 20,000 Chinese, using an EB-5 visa for immigrant investors, generated at least $9.5 billion of capital and may have created or sustained 200,000 jobs. The visa program allows a foreign national who invests at least $500,000 in projects that create a minimum of 10 jobs to receive a US visa and, on completion of the project, a green card for permanent residency status.
Elsewhere, the study shows half the total $17.1 billion investment by Chinese since 2010 in existing office towers, hotels and other commercial buildings came in 2015, representing an annual growth rate of 70 percent. Commenting on the findings, executive vice-president at East West Bancorp Inc Wendy Cai-Lee said Chinese buyers are becoming more knowledgeable about the US real estate market.
A US exhibitor resorts to a Mickey Mouse cartoon to attract home-buyers at a property expo in Shanghai.
Analysts said the mature market infrastructure and sound legal system of the US market, as well as the access to high-tech companies, were among the driving forces behind the trend. Xu Hongcai, director of the economic research department at the China Center for International Economic Exchanges, said the growing trend of Chinese investors making the US a popular investment destination would likely continue after official data showed a record $8.39 billion of Chinese ODI in the US last year. A recent report by nonprofit organization the National Committee on US-China Relations and research firm Rhodium Group predicted that 2016 would be another record year for Chinese investments in the US. The economic slowdown, industrial overcapacity, as well as the uncertainty of the renminbi's exchange rate have accelerated outbound investment by Chinese companies.
China's total nonfinancial ODI surged by 71.8 percent from the previous year to $60 billion in the first four months of this year, according to the Ministry of Commerce.
Besides the US, Australia was another major destination for Chinese outbound investment, which jumped 188.1 percent year-on-year. Chinese companies also invested a total of $4.91 billion in 49 economies involved in the Belt and Road Initiative in the January to April period.
However, Chinese investment in the European Union decreased 44.8 percent from the same period of last year, which analysts said may have something to do with the rising protectionism in the region.
The district is home to Shanghai General Motors' Wuhan factory, which opened last year and assembles 1,300 Buick Excelles a day, at full tilt, supporting an ecosystem of dozens of auto parts factories. The city is very beautiful and third most heavily populated city in the United States and the center of the New York Metropolitan Area. In its 2013 ParkScore ranking, The Trust for Public Land according that big apple town had the second best park system among the fifty most thickly settled U.S. Parks in New York City Central Park, Prospect Park, Flushing Meadows–Corona Park, Forest Park, and Washington Square Park. In 2015 alone, China had 40,000 new bakeries and beverage stores serving dairy food and drinks, while in 2012 the number was fewer than 5,000. A survey which polled more than 2,000 respondents across China showed 43 percent of consumers, aged between 20 and 30, said they visit bakeries two to six times every week. This allows them to conduct video conversations at the initial stage of contact, followed by face-to-face and one-on-one communication. Some of their products are not competitive enough, and some companies have problems connected to heavy pollution and high energy consumption. It also has plans, he said, to establish a robotics application center in the industrial hub of Wuhan, capital of central China's Hubei province. It says it is a leading enterprise in promoting China's progress in so called three-network convergence, which aims to combine cable television, telecommunications and the internet into one seamless chain. The offering could take place early next year, they added, asking not to be identified as the information is private.
China reported sales of 25 million automobiles last year, up 4.7 percent from the year before, according to the China Association of Automobile Manufacturers. It tumbled more than 2 percent during intraday trading, but managed to recoup some of the loss as big-cap financial stocks rallied toward the market close.
That, coupled with illegal fishing and the deteriorating ecology of the river, has put the species in danger.
It will help 800 vulnerable young people, aged 16 to 29 in and around Chengdu, to gain certain skill sets for them to hold down a stable job.]]> AkzoNobel NV, a Dutch multinational focusing on specialty chemicals and coatings, said it is committing itself to the development of western China's talent by launching a youth employment project in Chengdu, Sichuan province.
AkzoNobel, like other foreign enterprises, has been accelerating its business expansion in the area. However, only 34.8 percent of them have received job skills training, with even fewer having received an opportunity for proper life skills training.
It has implemented several programs in many provinces and autonomous regions in China, such as Shaanxi, Ningxia, Yunnan, Anhui, Sichuan, Qinghai and Hunan.
Organizers said more than 30 domestic and foreign experts, including those from the United States, Australia, Singapore and Malaysia, are supporting the initiative by hosting events such as health forums, public lectures, and parent-child health development events. Coorganized by Wujiang Daily and local sports and health organizations, the campaign raised 639 yuan ($98) in total, which will be used on public welfare activities organized by Wujiang Daily. Jingyuan is renowned for the Chinese wolfberry, considered one of the most antioxidant-rich fruits, and the online development effort has greatly helped sales. The event was co-hosted by the Thalassemia International Federation, the Thalassemia Chinese Federation, China Siyuan Foundation for Poverty Alleviation, Beijing Angelmom Charity Foundation and China Philanthropy Research Institute of Beijing Normal University. More than 70 children participated in this year's event, at which advice on dealing with disabilities and free cataract screening were also offered. The voluntary takeover offer will be conducted by Midea's affiliate MECCA International Limited, at 115 euros in cash per share. Some 30,600 domestically built pianos were exported, while 147,500 were imported, an 11.7 percent rise on 2014.
He said approximately 3 percent of families in the country now own a piano, but around one in five families in Shanghai has one. Even though it will not affect Chinese companies in the short term, it matters about whether Chinese companies have really dumped or received unfair subsidies or not," said Zhou Mi, senior research fellow at the Chinese Academy of International Trade and Economic Cooperation. Of 70 large and medium-sized cities surveyed in April, 65 saw new home prices climbing month on month, up from 62 in the previous month, the National Bureau of Statistics said.
The Chinese mainland accounted for more than 3 percent of the global market in 2015, Fitch said, citing increasing incomes, high savings and the preference for bank deposits over asset-management products as major driving forces. Customers who don't have a mainland bank card won't be able to keep money in accounts from July 1, according to a statement from parent Zhejiang Ant Small & Micro Financial Services Group Co on Wednesday. The center aims to take advantage of Google's global precision marketing to foster 10 international brands, help 1,000 local businesses earn $10 billion revenue in three years and provide promotion services for 3,000 enterprises, according to Kevin O'Kane, Google's managing director of small and medium business in the Asia-Pacific region.
Industrial production, an indicator of manufacturing, mines and utilities output, increased 0.7 percent in April from the previous month, the biggest monthly gain since November 2014. In inflation-adjusted terms, the growth corresponds to a 0.4 percent increase from the previous quarter.
The Finance Ministry announced the revised growth forecast in a quarterly bulletin for January-March 2016. The event, which opened on Tuesday, has attracted more than 50 startup companies from the mainland and Taiwan.
Instead of offering the drink by the bottle as is customary, Capital Spirits sells the fiery liquor by the glass and mixed in stylish cocktails. The consultancy also helps producers to establish an accessible market price to lure novice drinkers in the West. We are exploring to have ownership rights to the new baijiu brands that we are creating together with the producers," noted Heger, co-founder at Capital Spirits. Additionally, the domestic market is expected to shrink in the coming years as young Chinese tend to prefer imported spirits such as whiskey.
It mainly exports to countries in Northeast Asia and Southeast Asia through distribution centers in Hong Kong and Singapore. The vault can store 2,000 tons of gold and other precious metals such as silver, platinum and palladium. It will offer customized services including supply and inspection of precious metals, according to ICBC. The bank will be able to carry out both retail and wholesale business on precious metals, whether they are paper or physical. It was approved access to the gold price mechanism of London Bullion Market Association as a gold fixing pricer in April. It said this was driven by the desire to gain access to the explosion of technological innovation, as well as the urge to tap the growing spending power of domestic middle-class consumers by investing in tourism and hospitality. People introduce their hometown as "China's Motor City", and many young people expect to work in the automotive industry when they leave school or college. But now as my income has risen, I love to buy 16-yuan croissants for breakfast, or buy an assorted bag of bread for the weekend," said Yu Zhihua, a 27-year-old Shanghai consumer, shopping at a bakery in Lujiazui.
It also allows on site visits, and a package of customized financial services during the life cycle of Chinese SMEs, once they reach cooperation agreements with their foreign counterparts. He said they are finding it increasingly difficult to receive funding, especially during China's economic slowdown.
A spokesman for SAIC didn't immediately respond to calls seeking comment, while representatives for CICC, HSBC, JPMorgan declined to comment.
A charity Jingyuan wolfberry picking festival will be held in July, co-hosted by the local government and State Council Leading Group Office of Poverty Alleviation and Development.
Meanwhile, five cities reported month-on-month price declines, down from eight in March, according to NBS data.
While property development remains its core business, the company has in recent years entered other markets such as finance, internet, health, culture and tourism.
According to the legal complaint submitted by the plaintiff, the "Gaotong" trademark in Chinese characters was registered in 1992, the year the semiconductor company was established.
Alipay, which has 450 million users, didn't specify how many customers would be affected and has told clients to clear their balances to avoid the risk of funds being frozen.
Industry experts calculate that exports of the fiery drink represent only 1 percent of the total production.
Because the white spirit is a traditional drink strongly embedded in China's history, baijiu producers have only opted for conservative designs that are attractive to local consumers.]]> Now that the business of baijiu, the Chinese intoxicating drink, is looking to expand beyond Asia, industry experts note there are still some notable obstacles on its way to success.
Baijiu is the favorite drink on the Chinese table during special occasions such as holidays and weddings. Despite the increasing interest in exporting the drink, the white liquor is not a love at first shot for most foreigners. It is stationed within the Northeastern United States in southeastern New York State, close to halfway between Washington, D.C.
The headquarters of the international organization is in the big apple and most countries have a consulate building here.
ParkScore ranks urban park systems by a formula that analyzes median park size, park acres as percent of city space, and the percent of town residents at intervals a half-mile of a park, defrayal of park service’s per resident, and also the variety of playgrounds per 10,000 residents. The different rates reflect positive changes in China's economic structure, as power use in the service sector grew faster than the industrial sector.
On a yearly basis, 46 cities posted new-home price increases and 23 reported falls in April, compared with 40 and 29 in March. The new name "will better reflect the diversified business strategy and corporate identity", according to the board.
This is notwithstanding the budget projection of 2.7 percent," the ministry said in the bulletin. The proposed name change needs final approval at the company's annual general meeting on July 16, and by the Registrar of Companies of the Cayman Islands, where Evergrande is incorporated.



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