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China stock investors wait for release of key economic data

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The Shanghai Composite Index was trading lower in afternoon trade on Thursday, losing 17.33 points, or 0.76% to 2,253.60.

China officials will release key trade, inflation and industrial output data this weekend that are keenly awaited.

For the year to date, the Shanghai Composite Index is almost even, while the Index is up 10.9% for the six months to date.

Trading volumes in the Shanghai index were also lower as was volatility measured by the volatility index.

Which demonstrates that investors are on the sidelines until a better sense of the mixed messages in recent economic data is gained.


*New loan growth*

China's largest four banks extended the lowest amount of new loans in five months in May amid weak credit demand, indicating that uncertainty is still prevalent.

A possible explanation is that the economic recovery is on track but delayed. The growth in the first half is weak, but economic data released to date indicates a recovery, albeit tepid is likely underway in the second half of the year. Reported by Proactive Investors 3 hours ago.

Restaurant Inspections: Miyama, Great China

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Restaurant Inspections: Miyama, Great China Patch Ashburn, VA --

Inspectors from the Virginia Department of Health visited several restaurants in Loudoun County this week. See a sampling of those results below, and visit the health department's website for a complete list of recent inspections.

Miyama Restaurant
20789 Great Falls Plaza #110
Date of inspection: May 24
Dispensing utensils improperly stored between uses.
 
Great China
9265 Citrine Drive Ste. Q102
Date of inspection: May 23
The cashier was eating in areas where they may contaminate food, clean equipment, utensils or other items needing protection.
 
Mediterranean Breeze Restaurant
20693 Ashburn Road
Date of inspection: May 22

The shelving in the leader refrigerator is not designed and constructed to be durable.

"Ideally, an operation would have no critical violations, or none which are not corrected immediately and not repeated. In our experience, it is unrealistic to expect that a complex, full-service food operation can routinely avoid any violations," according to department of health website.

The site continues: "Keep in mind that any inspection report is a 'snapshot' of the day and time of the inspection. On any given day, a restaurant could have fewer or more violations than noted in the report. An inspection conducted on any given day may not be representative of the overall, long term cleanliness of an establishment."

Full reports can be accessed on the health department's website.

· A *core item* "usually relates to general sanitation, operational controls, sanitation standard operating procedures (SSOPs), facilities or structures, equipment design, or general maintenance."
· A *priority item* is "a provision in this Code whose application contributes directly to the elimination, prevention or reduction to an acceptable level, hazards associated with food-borne illness or injury and there is no other provision that more directly controls the hazard," and "includes items with a quantifiable measure to show control of hazards such as cooking, reheating, cooling, hand washing."
· A *priority foundation* item "includes an item that requires the purposeful incorporation of specific actions, equipment or procedures by industry management to attain control of risk factors that contribute to food-borne illness or injury such as personnel training, infrastructure or necessary equipment, HACCP plans, documentation or record keeping, and labeling." Reported by Patch 1 hour ago.

POWERSHARES FTSE RAFI CHINA FUND - Net Asset Value(s)

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Funds Date Ticker ISIN code Shares in Currency Net Asset NAV/per Symbol Issue Value share Base PowerShares 05.06.2013 PSDJ IE00B3BPCG45 100,001 USD 2,045,693 20.45672 FTSE RAFI Hong Kong / China F... Reported by FinanzNachrichten.de 3 hours ago.

China bear bile company quits IPO bid after outcry

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- Animal-rights activists in China are claiming a rare victory after a company that raises bears to extract bile from their gall bladders withdrew its application for a public listing. Reported by WTOP 3 hours ago.

China arrests two executives at poultry plant in connection with deadly blaze

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Authorities in China have arrested two executives at a factory in connection with the deadliest blaze in over a decade after reports that locked doors prevented workers from escaping.Provincial officials said the chairman and general manager of the Baoyuanfeng poultry plant, in Jilin province, have been arrested. Reported by All India Radio 3 hours ago.

US-CHINA SUMMIT : Humble pie for Xi on Sunnylands menu

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China's Western critics, expecting US President Barack Obama this weekend to surrender to Chinese counterpart Xi Jinping's panda-like charm at their summit in the Californian sunshine, are in for a big surprise. Xi is cognizant of the fact that right now the United States holds the advantage in the evolving US-China relationship, and he will think seriously about validating American concerns over cyber-threats. - Peter Lee (Jun 6, '13) Reported by Asia Times 3 hours ago.

China's Uyghurs have nowhere to turn

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Pressure from the United Nations and Washington over alleged religious and cultural suppression by China in Xinjiang province is being resisted by Beijing, which insists its achieving progress in religious freedoms and autonomy in minority regions. Deadly clashes in the province in April that saw 21 killed, including 19 Uyghur “suspects”, suggest a lack of self-determination is leading to radicalization. - Audrey Petit (Jun 6, '13) Reported by Asia Times 3 hours ago.

China complains to Ghana after detentions in mining crackdown

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BEIJING (Reuters) - China's Foreign Ministry said on Thursday the government had complained to Ghana's president after 124 Chinese citizens were detained in a crackdown on illegal gold mining. Reported by Reuters 2 hours ago.

China bear bile company quits IPO bid after outcry from animal-rights activists

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June 06, 2013 4:49 PM

BEIJING (AP) - Animal-rights activists in China are claiming a rare victory after a company that raises bears to extract bile from their gall bladders withdrew its application for a public listing.

 
 
 
  Reported by Straits Times 3 hours ago.

U.S.-China Business Council Elects DuPont Chair and CEO Ellen Kullman as Chair

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Leading U.S.-China Business Advocacy Organization Adds New Officers and Board Members from Walt Disney, Aetna, Peabody Energy, Alcoa, Chindex, Pfizer, Carlyle Group, and Starwood Hotels

Washington, DC (PRWEB) June 06, 2013

The U.S.-China Business Council (USCBC) today announced the election of DuPont Chair & CEO Ellen Kullman as USCBC chair as well as the election of other officers and board directors.

"I am pleased to lead the U.S.-China Business Council at this important time for U.S.-China commercial relations. USCBC is the leading business organization representing American commercial interests with China," Kullman said. "USCBC is celebrating its 40th anniversary this year and has seen many business advances over four decades. Challenges still remain in the commercial relationship, but there are tremendous opportunities to partner between the two countries to ensure sustainable development, economic growth and job creation.”

“When you add up exports to China and sales by companies with operations in China, USCBC estimates that China is at least a $250 billion market for American companies," Kullman continued. "I look forward to serving as USCBC chair during this milestone year and advocating for effective and sensible approaches to further promote and strengthen the U.S.-China commercial relationship.”

Kullman leads a global market-driven science company with annual revenues of nearly $35 billion. DuPont operates in more than 90 countries and has brought world-class integrated science and engineering to the global marketplace through innovative products, materials and services. With over 40 wholly owned or joint venture entities and 7,000 employees in mainland China, DuPont offers technology, products and services to industries including agriculture, food and nutrition, electronics and transportation.

USCBC President John Frisbie announced the following elected officers:
Chair, Ellen Kullman, chair of the board and chief executive officer, DuPont
Vice Chair, Robert Iger, chairman and chief executive officer, The Walt Disney Company
Vice Chair, Thomas J. Lynch, chief executive officer, TE Connectivity
Secretary-Treasurer, The Honorable Barbara Hackman Franklin, president and chief executive officer, Barbara Franklin Enterprises
Counsel, Andrew W. Shoyer, partner, Sidley Austin LLP

USCBC also today welcomed 11 new board members:
Mark T. Bertolini, chairman, chief executive officer and president, Aetna
Stephen Bird, chief executive officer, Asia Pacific, Citi
Gregory H. Boyce, chairman and chief executive officer, Peabody Energy
Mary Callahan Erdoes, chief executive officer, J.P. Morgan Asset Management
Mark Fields, chief operating officer, Ford Motor Company
Klaus Kleinfeld, chairman and chief executive officer, Alcoa
Roberta Lipson, chief executive officer and president, Chindex International, Inc.
Edward J. Rapp, group president and executive officer member, Caterpillar Inc.
Ian C. Read, chairman of the board and chief executive officer, Pfizer
David Rubenstein, co-founder and co-chief executive officer, The Carlyle Group
Frits van Paasschen, chief executive officer and president, Starwood Hotels & Resorts Worldwide, Inc.

An updated list of USCBC's directors can be found at https://www.uschina.org/board_of_directors.html.

"I am delighted with the election of Ellen Kullman to chair and the other officers and new board members. USCBC continues to have one of the most dynamic boards consisting of America's best business leaders,” Frisbie said. “China is a market that matters greatly to America. Clearly there are an array of issues that need to be addressed for more growth to occur, including investment barriers, intellectual property protection, cybersecurity, and a level playing field for all enterprises. Under the leadership of the board, USCBC will continue its high-level advocacy to address these issues and keep the commercial relationship moving forward constructively.”

Kullman succeeds Bob McDonald, former chairman, president, and CEO of The Procter & Gamble Company, as USCBC chair.

"I want to thank Bob McDonald for his leadership and dedication to USCBC's mission during his tenure as chair,” Frisbie said.

The U.S.-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of roughly 225 American companies that do business with China. Celebrating 40 years of operations in 2013, USCBC has provided unmatched information, advisory, advocacy, and program services to its membership. Through its offices in Washington, DC; Beijing; and Shanghai, USCBC is uniquely positioned to serve its members' interests in the United States and China.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.

# # #

6/6/13 Reported by PRWeb 2 hours ago.

US-China Business Council Elects Ellen Kullman, Chair of the Board and Chief Executive Officer of DuPont, as Chair

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Leading US-China Business Advocacy Organization Adds New Officers and Board Members From Walt Disney, Aetna, Peabody Energy, Alcoa, Chindex, Pfizer, Carlyle Group, and Starwood Hotels Reported by Marketwired 2 hours ago.

China frustration with NKorea offers hope for US

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China's growing frustration with longtime ally North Korea offers the United States a glimmer of hope about a once unthinkable prospect: holding discussions between Washington and Beijing about what to do if the government in Pyongyang collapses. Reported by Seattle Times 1 hour ago.

US–China Summit Framed by Cold War Politics

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President Barack Obama and Xi Jinping, the supreme leader of the Chinese Communist Party, are set to meet at the estate of a billionaire publishing magnate in the Californian desert on June 7. The setting—an expansive, private manor and surrounds—is …

The post US–China Summit Framed by Cold War Politics appeared first on The Epoch Times. Reported by Epoch Times 2 hours ago.

Arrests over China plant blaze

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Two senior executives at a poultry processing plant in China have been arrested over a fire that left 120 people dead, officials say. Reported by BBC News 1 hour ago.

Silver lining? India races past China, Russia, Brazil in May, says HSBC

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New Delhi: Economic growth in emerging market economies remained sluggish in May, but India expanded at a better rate than the three BRIC peers China, Russia and Brazil, an HSBC survey said today. During May, the HSBC composite index for India, which maps both manufacturing and services sectors, stood at 52, whereas for China it [...] Reported by Firstpost 1 hour ago.

American Teacher At Elite French School In China Accused Of Sexually Abusing Students

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American Teacher At Elite French School In China Accused Of Sexually Abusing Students An American teacher at an elite French school in Shanghai has been arrested on suspicion of sexually assaulting at least seven children, school officials and parents told AFP on Thursday.

The news comes after a former instructor at the school, also an American, was extradited to the US on similar charges, they said.

The kindergarten teacher was seized by Chinese police last month after seven families filed formal accusations against him, alleging sexual abuse and rape of students of both sexes, several parents told AFP.

"As parents we are devastated," said the mother of one pupil, who requested anonymity to protect her child's privacy.

Management at the Lycee Francais de Shanghai told AFP: "Families have lodged complaints with the Chinese police against a teacher at the French school of Shanghai over assaults on their children.

"The investigation is being carried out by the Chinese police and is ongoing. The teacher has been in administrative detention since his arrest," the school added.

The mother told AFP that her child started behaving oddly soon after they moved to the country.

"My daughter was having nervous breakdowns, she was scratching herself on her face and thighs," she said.

"As we had just arrived in China I figured it was exhaustion from moving countries, I didn't worry about it," she said, adding that only later did she link the unusual behaviour to abuse.

The fee-paying school declined to provide precise details of the accusations against the teacher, nor over what period they allegedly took place. A notice addressed to families referred to "sexual assaults".

Another mother said she suspected her daughter had been abused over a period of months, and that cases of abuse of other children went back as far as five years.

"We are living a nightmare," she said.

The second teacher, a friend of the first, was "extradited by Chinese authorities to the United States in December 2012 following an investigation into sexual touching and violence against minors", the school said in an email.

From 2005 until last year he worked alternately at the French and German schools, which share a campus.

He left the French school in 2011 and its management said his alleged actions took place during individual classes at a private home, when he was no longer on its staff.

One parent expressed frustration, saying: "The French school wants us to believe that there is absolutely no link between these two incidents, except that the two people, while they were working together, were friends."

The French school in Shanghai is a private institution contracted with the Agency for French Teaching Abroad, a government body.

Its two campuses have 1,600 students, ranging in age from three to 18.

Shanghai police declined to comment on the cases. The US consulate in the city also declined to comment.

Copyright (2013) AFP. All rights reserved.

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Join the conversation about this story »

 
 
 
  Reported by Business Insider 50 minutes ago.

FIDELITY CHINA SPECIAL SITUATIONS PLC - Net Asset Value(s)

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Daily NAV Announcement Fidelity China Special Situations PLC The net asset value (unaudited) for the above company as at close of business on 05-06-2013 was: 99.64p The above net asset value was c... Reported by FinanzNachrichten.de 1 hour ago.

McDonald's Brings Rice Recipes to China

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McDonald's Brings Rice Recipes to China Filed under: Investing

A menu of Big Macs and Quarter Pounders must not be enough to drive the growth that McDonald's Corp. (NYSE: MCD) hoped for, or planned for, in the People's Republic. The huge fast-food chain has decided targeting local tastes will be one key to adding customers. That, in turn, means adding rice-based products for consumers.

The People's Daily reported on McDonald's menu changes:



With an eye on dinner tables in the Chinese mainland, McDonald's, the world's leading fast food operator, on Wednesday announced new rice products for the mainland market.

Starting from June 10, the new products, including chicken and beef rice wraps, will be sold in all 1,700 McDonald's restaurants on the Chinese mainland.The core menu, including the chain's staples like the Big Mac and McChicken, will not be changed, Kenneth Chan, chief executive officer of McDonald's China, said in the press release."

Our new dining options are examples of how McDonald's innovates to bring more options to our Chinese customers, because that's what they want," Chan said.



The decision is a clever way to counter the success of Yum! Brands Inc.'s (NYSE: YUM) KFC, which has taken the Chinese market by storm. Recently, issues with the quality of its chicken products has blunted that progress, but the KFC brand is powerful enough to overcome that eventually. McDonald's also has to deal with a rise in the number of Starbucks Corp. (NASDAQ: SBUX) outlets in China, and the growth of Subway, which has more stores than any other fast-food company in the world.

McDonald's has decided that one menu does not fit all. That is despite the temptation to assume that what sells in the United States will be popular elsewhere. That in temptation would be based on the assumption that McDonald's food is better than any other, no matter what the locations of its stores. A marketing plan based on common, universal tastes is arrogant. And it is a path to losing market share in China, and likely elsewhere.

In addition to the intelligent work McDonald's has done in China to increase its customer base, it has added options, rice-based meals, that do not have hundreds of calories and tons of fat. That, by itself, has advantages.


Filed under: 24/7 Wall St. Wire, China Tagged: MCD, SBUX, YUM

 

Read | Permalink | Email this | Linking Blogs | Comments Reported by DailyFinance 1 hour ago.

China money flows: the ins and outs

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Following the country’s leadership transition, capital is flowing back into China. But inflows of hot funds are risky, especially for the shadow banking sector Reported by FT.com 1 hour ago.

CAPITARETAIL CHINA TRUST: CHANGE IN CAPITAL :: OTHERS :: PAYMENT OF MANAGEMENT FEE BY WAY OF ISSUE OF UNITS IN CAPITARETAIL CHINA TRUST

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Change in Capital :: Others* Asterisks denote mandatory informationName of Announcer *CAPITARETAIL CHINA TRUSTCompany Registration No.N.A.Announcement submitted on behalf ofCAPITARETAIL CHINA TRUST... Reported by FinanzNachrichten.de 1 hour ago.
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