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Overseas businesses boost Chinese banks----------------------------Taobao agent timtao.com

Overseas businesses boost Chinese banks
A branch of Industrial and Commercial Bank of China. [Photo/Xinhua]
BEIJING -- Interim reports of 16 A-shares listed Chinese banks posted slight profit growth,thanks to their overseas business offsetting the impact of the slowing domestic economy.   Taobao agent
The net profits of China's largest State-owned banks expanded less than 1 percent in the firsthalf (H1) this yearexcept for Bank of China (BOC), which saw 1.69 percent expansion.
Overseas commercial businesses of China Communication Bank (CCBnetted the bank 2.12billion yuan ($332.92 millionin the January-June periodup 35.61 percent year on year.
The Agricultural Bank of China's (ABCoverseas branches reported net profits of 1.81 billionyuanup 22.8 percent from a year ago.
The H1 pre-tax profits of BOC hit $4.65 billion and Industrial and Commercial Bank of China(ICBCgained 13 percent to 1.71 billion yuan.
Yi HuimanICBC presidentsaid the bank was increasing business abroad foreign to improveits global competitiveness.
The foreign capital market posed new challenges to the banksoverseas strategiesespeciallythe fluctuating exchange ratewhich affected the liquidity of yuan.
"Offshore renminbi liquidity will be improved as the currency goes globaland cross-borderrenminbi businesses remains heavyweight in the overseas sectors of Chinese-funded banks,"said Mao Yuminpresident of CCB (Asia), a CCB subsidiary.
BOC vice president Zhang Jinliang said banks should grasp the opportunity afforded by therecent changes to the yuan exchange rateand establish offshore renminbi businesses.
According to interim reportscross-border renminbi settlement by CCB hit 834.15 billion yuan,and BOC reported 2.63 trillion yuanThe total cross-border renminbi businesses of ICBC roseby 16.5 percent to 1.99 trillion yuan.
"Cross-border use of China's yuan is an irresistible trend," suggested Hu Zhanghong,executive president of CCB Internationaladding that the banking sector needed moreoverseas innovative businesses and better services for renminbi capital abroad.
Meanwhilecentral policies like the Shanghai-Hong Kong Stock Connect will provide facilitatemore renminbi business in Hong Kong.
"We take Hong Kong as a 'bridgeheadfor our overseas businesses," said Chen Siqing,BOC's presidentBOC (Hong Konghas signed agreements or loan contracts with enterprisesin free trade zones in GuangdongTianjin and Fujianto launch direct yuan-denominatedloans.
Many domestic enterprises with financing needs have filled for their IPOs in Hong KongExchanges as A shares IPOs had been suspendedand the market for yuan-denominatedbonds has maintained momentum in Hong Kong since 2014 providing extra opportunities.
China's top securities regulator said on July 10 that it will continue with its approvalprocedures for IPOsalthough it confirmed that there will be no IPOs in the near term   Taobao Broker.w

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A for entertainment, F for accuracy



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A for entertainment, F for accuracy
The screenshot shows students's bad behavior at class in the BBC documentary,Are Our Kids Tough Enough? Chinese School.
BBC documentary series on China-UK education project is fun but flawed   Taobao agent
It ran for three weeks, and triggered an avalanche of comments both in China and the UK. Debate rages about the merits of British education versus the Chinese system. Most of my friends and colleagues have watched it, and I have been glued to the screen.
The series, Are Our Kids Tough Enough? Chinese School, has been described by critics and viewers variously as car-crash television, reality TV gone mad, an insult to both Chinese and UK teachers, and a superficial attempt to tackle an interesting question.
Me, I tend toward the car-crash television theory - you watch because you are waiting for the next bit of high drama.
One thing that did surprise me was that the three-part series was made in conjunction with Britain's Open University, which provides distance learning and off-campus study for tens of thousands of people in Britain, either those in work, or those who missed out on a traditional bricks and mortar educational career path. In other words, a serious educational establishment.
I should confess here and declare an interest - I am studying for a BA honours degree in History at the OU. But that's given me access to the members-only online debate that's been set off by this series.
And what a debate - over 30 pages of comments, averaging at least 10 comments per page, from OU students past and present, of all ages and from all backgrounds. I don't think I've seen such a reaction to a subject since I started my studies two years ago.
There are common themes running through the debate thread - outrage at the behavior of the students, harsh criticism for the apparent aloofness and remote attitudes of the Bohunt School staff members, disbelief at the disruptiveness of some students, disagreement over the accuracy of the Chinese and British systems as portrayed, and sympathy for the five Chinese teachers involved in the month-long project.
Sample comments:
"I watched with dismay this tosh (rubbish) on television."
"A dreadful, smug head."
"Uninspiring Chinese teachers."
"Merely lame 'edutainment' - the cameraman zoomed in on the pretty girls in the class."
"It does look as if the Chinese teachers were set up to fail, and reinforce the prejudices of the rather smug English teachers that our system is better."
"Chinese school students need more creativity and vitality, and British students need more perseverance and responsibility."
"I am appalled by this documentary. It is utterly unfair to put Chinese teachers into a British school to teach Year 9s."
"In Britain we seem to have turned education into a form of entertainment, a game that everybody wins."
"The Chinese teachers must have known to some extent what they were letting themselves in for."
"Students I teach from China can also be lazy and disrespectful, but express it in different ways - evasiveness, plagiarism and being uncooperative in class."
And the comments go on, and on, with a fair number of Chinese contributors as well as Britons.
From my perspective, I feel it is wholly wrong to portray this as a serious experiment - it only lasted for a month, and there was no attempt to mention any caveats.
We learn from the Chinese-language media that only two of the teachers were straight from the education system in China - the rest, it is said, have been living and teaching in the UK for several years. I can't vouch for the accuracy of that.
If you looked closely, the various students who were misbehaving and disruptive were all wearing discreet microphones clipped onto their polo shirts - the others did not. That raises strong doubts in my mind about the spontaneity of the scenes in class.
My wife, herself a product of a French education in her native Vietnam, came up with the word that summed up a lot of what the program was purporting to say. That word is "disconnect".
Disconnect in as much as it was clear the students, Chinese teachers and English teachers, as well as parents, had little or no understanding of what was happening.
If you take two totally separate societies and cultures and compare the two, of course there will be differences.
Point a camera at most teenagers, and they will for the most part act up.
I have been through a traditional English education, my daughters have done the same, and I am watching my two grandchildren navigate their way through the vagaries of the English primary system. Plus, my eldest daughter is a teacher, and she has never witnessed any scenes such as those depicted in these programs.
I work with Chinese colleagues here in London, and all are adamant that China's system is changing, and has been for the past decade.
Pause here for a smug, I-told-you-so moment. After the second episode aired, I firmly predicted to colleagues in the office that there would be a happy, Disney-like ending.
There was. The badly-behaved members of the class miraculously got their acts together, the Chinese teachers relaxed slightly, and in the final test between the English system and the Chinese method, China edged it. Self-conscious high-fives all round, with pupils admitting they had enjoyed it after all.
You couldn't have made it up. Well, if you were producing a three-part television series you could.
And here's a final thought - if the British education system is so lacking, why do thousands of Chinese students come here to sample its sixth-form colleges and universities?
I have the overwhelming feeling that what the producers were looking for was sensational tabloid-style television. Fine, but please don't present it as a serious study.
A bit like comparing chalk and cheese, really.    China Ebay

Houston scientist honored

Dr Paul Chin-wu Chu, professor, founding director and chief scientist at the Texas Center for Superconductivity at the University of Houston, is one of the five overseas Chinese in the world - and the only one in the US - invited to view the military parade on Sept 3 from the upstairs of Tiananmen Rostrum in Beijing celebrating victory in Taobao agent .
Houston scientist honored
Dr Paul Chin-wu Chu
Chu said that he accepted the invitation to attend the celebration marking the 70th anniversary of the end of World War II and the victory in China's war of resistance against Japan a couple of months ago.
"I happened to need make a research trip to Shanghai at the same time, so I incorporated it into my schedule," said Chu.
The invitation to ascend to the top of the Tiananmen Rostrum to view the military parade came as a complete surprise to Chu. "I was in Geneva when a student of mine forwarded me the news, I am not sure why I was selected but I feel honored," Chu told China Daily.
Chu is a well-known physicist for his discovery of higher temperature superconductors and has been nominated for a Nobel Prize. His discovery led to a legendary event in science known as the "Woodstock of Physics" in 1987, when scientists mobbed the New York Hilton and presented papers on superconductors until 3 in the morning.
Over the years, Chu has continued to work in superconductor research and has been active in joint research efforts with scientists in Chinese mainland, Hong Kong and other nations. He also served as president of Hong Kong University of Science and Technology from 2001 to 2009 and helped build it into a leading research university.
Chu's father was a pilot in the Chinese air force during World War II. "My father was a pilot in the US when Japan invaded China," Chu said. "He made speeches and did fundraising to muster support for China. Then, he and 12 pilot buddies went back to China together to join the air force to fight Japan in late 1930s," said Chu.
Chu's father was stationed at the air force base in Nanchang, Jiangxi province. Since he was the only son of the family, his mother insisted on his working on the ground. He stopped flying after a while and managed to survive the war. Sadly, all 12 of his pilot buddies were killed in the fighting.
"I listened to those WWII stories growing up, it's a very important part of their history," said Chu. "China fought hard to win the war against Japan, the victory didn't come easy. I am very happy to see a stronger China."
Chinese Consul General Li Qiangmin said that Chu, a member of Chinese Academy of Sciences, has dedicated decades of his life to superconductor research and achieved remarkable results.
"Chu also cares about the development of his birth country and has made great contributions to the friendly cooperation between China and the US. I congratulate him on receiving the honor representing all overseas Chinese in the US to view the WWII victory military parade from the top of Tiananmen Rostrum," said Li.  Taobao Intermediate.

China sees major breakthrough at Beijing athletics world championships


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China sees major breakthrough at Beijing athletics world championships
High jumper Zhang Guowei celebrates after winning a silver medal at the Bird's Nest on Sunday. WEI XIAOHAO/CHINA DAILY
Chinese athletes have cast off the shadow of star hurdler Liu Xiang's retirement to restate the country's challenge to world powers in track and field.  taobao agent
China saw breakthrough performances at the World Ath letics Cha   mpionships, which ended in Beijing on Sunday evening, scooping nine medals including one gold, seven silvers and one bronze. 
The sad memory of Liu withdrawing from the 110-meter hurdles final at the Beijing Olympics in 2008 was erased in the Bird's Nest stadium on Saturday when China took the silver medal in the men's 4x100m relay.
"We are excited to see more-balanced progress achieved by China at the World Championships, showcased by podium finishes in all four disciplines of walking, running and jumping as well as throwing, for the first time in the history of Chinese athletics," said Du Zhaocai.
The International Association of Athletics Federations council member and director of the Chinese Athletics Association, made the comments at a news conference on Sunday.
Motivated by boisterous home crowds, Chinese athletes ended the championships with one gold medal, seven silver and one bronze to finish 11th in the medal table.
Just before the championships ended on Sunday evening, Chinese high jumper Zhang Guowei won a silver by clearing 2.33 meters, while female javelin thrower Lyu Huihui won a silver with 66.13 meters.
Led by 26-year-old Su Bingtian, the men's team initially finished third in the 4x100m relay final but was upgraded to second place after the United States was disqualified for a false exchange.
Men's high jump - Silver medal
China sees major breakthrough at Beijing athletics world championships
Zhang Guowei of China reacts as he competes in the men's high jump final during the 15th IAAF World Championships at the National Stadium in Beijing, August 30, 2015   China Ebay .


Anchor babies' talk stirs political, business debate

Birth tourism' issue enters electoral, economic realm in US    Taobao Intermediate 
While some Chinese Americans take offense at Republican presidential candidate Jeb Bush's recent comments about "anchor babies", a Chinese "birth tourism" operator isn't concerned, saying his business would not be affected.
Bush's rival candidate Donald Trump used the term "anchor baby" in his campaign to challenge the 14th Amendment, which grants birthright citizenship.
Bush, who has called for immigration reform, used the term while responding to a question about Trump's call to change the law. He later explained, at a press conference in McAllen, Texas, on Aug 24, that his use of the term was "more related to Asian people," who "committed fraud" in order to "take advantage of a noble concept, which is birthright citizenship".
Aides to Bush further explained that he was referring to "birth tourism", which is mostly associated with affluent women from China who are accused of traveling to the United States solely to give birth to a US citizen child.
"It's racial discrimination," said a Chinese mother who gave birth at a Los Angeles-based maternity hotel last year and now lives in the San Francisco Bay Area. "It hurts our feelings. As a Chinese, I can't accept such remarks," she said, asking to be anonymous.
She said it's not necessarily illegal for foreign national women to give birth in the US as long as they don't misuse their visas and pay their own bills.
"They just want to give their children another choice for their future," she said. "It's different from what the 'anchor baby' implies."
To Wenhong Xie, a Chinese-American blogger living in the Bay Area, Bush's comments demonstrate that the Chinese community in the US was politically powerless.
"It's kind of a tradition for US politicians to bash the Chinese people during their election campaign. This time, Bush narrowed his target to Chinese women in order to win back the Hispanic voters amid the controversy," said Xie, whose account, called "Civil Rights" on WeChat, has tens of thousands of followers in the US and in China.
Asian-American voters accounted for only about 3 percent of the nation's total, and 73 percent of them voted for Barack Obama in 2012.
But more Chinese immigrants in California have leaned Republican since last year's SCA-5, or California Senate Constitutional Amendment No.5, which was introduced by a Democratic senator to ask voters to consider eliminating the state's ban on the use of race, sex, color, ethnicity, or national origin in recruitment, admissions, and retention programs at California's public universities and colleges, according to Xie, who is a Republican supporter himself. Some Chinese Americans believe that would affect the rate at which they are admitted into California universities.
"I think Bush rang the alarm for us Chinese Americans that we need to build our own influence, no matter which party you support," he said.
In China, a "birth tourism" operator and a popular blogger, who called himself "Ada's Dad", has been closely watching the "anchor baby" controversy, but he is not as concerned as Chinese Americans.
Two days after Bush made the comments, "Ada's Dad" said in a post on his Weibo account "usbabyada": "Look carefully, he (Bush) refers to those who committed fraud. If you don't lie on your visa and legally enter the US, you have nothing to worry about."
He said his first child was born in the US in 2012 and he then started his Weibo account to share his experience. As more people turned to him for consultation through Weibo, Xie set up his own maternity hotel in Los Angeles earlier this year. So far he has more than 50,000 Weibo followers and has helped more than 10,000 Chinese women give birth in the US.
"I've always encouraged people to be honest when applying for a visa and entering the US," he told China Daily. He said he also told his clients to pay their own bills and not to think of taking advantage of the benefits.
He said the business was greatly impacted by the federal agents' raids in March this year, but it would be as affected by the Republican presidential candidates' comments. "It's politicians' rhetoric, because it is unlikely the Constitution would be changed," he said.
But Bush's supporters said he had a point. According to a Aug 26 article in the Unz Review, a Chinese birthing center's advertisement promotes that an "anchor baby" will be entitled to "civil rights", "free tuition when attending public schools" and "low-interest student loans", among other benefits.
"Ada's Dad" said that most of the Chinese mothers who intend to have babies in the US were wealthy, so they would not become a financial burden to the US government, and, on the contrary, they would contribute to the local economy as they usually spend at least $50,000 for a three-month stay in the US.
Karthick Ramakrishnan, a professor of public policy and political science at the University of California, Riverside, wrote in the Huffington Post on Aug 28: "Chinese birth tourists account for about 1 percent of all Chinese tourists visiting the United States, who numbered around 2.2 million in 2014.
"Targeting individuals who may be intending to engage in birth tourism is not only likely to invoke concerns about racial profiling and violations of privacy, it also puts at risk a robust and growing trend in Chinese tourism to the United States, which is expected to reach $81 billion in spending by 2021."  Taobao agent







Crowd funding gets attention at 2015 CIFIT--------------------------------taobao agent timtao.com

The China International Crowd-funding Industry Forum & Exhibition (CICIFE) will be staged as part of the 2015 China International Fair for Investment & Trade in Xiamen, Fujian province on Sept 8   Taobao agent  .
Hosted by the Beijing-based Wode Crowd, this year's CICIFE will welcome government officials, authoritative industry figures and crowd-funding organizations to take part in discussions relating to national policies, the current state of the sector and a number of case-studies.
The exhibition will feature road shows, matchmaking sessions, a crowd-funding festival and cross-Straits makers' competition, where the ten best crowd-funding projects will be awarded by the host.
Crowd-funding has become a popular option of financing for small and medium-sized businesses in recent years. Crowd-funding platforms entered the mainstream in China around 2011. However, it wasn't until last year that, the Chinese crowd-funding industry experiences somewhat of a boom in the country.
Taobao and JD, two e-commerce giants in China, have both established crowd-funding platforms, while Ping An, a major insurer and banker, has also entered the market   Taobao Intermediate  .









2015年8月29日星期六

Investors eye C2C market----------taobao agent timtao.com

Chinese makers are eyeing the customer-to-customer (C2C) market in online to offline (O2O) businesses as venture capital counselors urge potential self-employed entrepreneurs to grab the opportunity to provide customized service both online and offline  Taobao Intermediate .
Investors eye C2C market 
Li Feng 
Li Feng, co-founder of Frees Fund, said China is far ahead of the US in online retail because of such companies as Taobao.com and JD.com. He said he started his own business with the backdrop of manufacturing overcapacity in China without lessons learned abroad.
Li, a former co-partner of International Data Group (IDG), now runs Frees Fund, an investment institute focusing on C2C services.
"I really regret not investing in taxi apps because I thought it was too hard to match a driver and a passenger," Li said on a maker salon organized by Sohu, a leading portal website of the nation. "But it turned out to be a near-monopoly because it is specialized once you make it."
Investors eye C2C market
Meng Xing 
Meng Xing, founder of China's leading catering brand Diaoye Niunan, suggested that starters focus on the minority and high-end customers to make money. "We can search online to find those who need personalized service to tap a new market."
"Most people don't like durian because of its smell. But I prefer to become a durian just to be loved by a small group of special people," Meng said   Taobao agent .

UN chief, experts laud China's role in WWII---------------news from taobao agent timtao.com

BEIJING -- UN Secretary-General Ban Ki-moon and experts from around the world have highly commented on China's contribution to and sacrifice in World War II (WWII), shortly before China's Sept. 3 parade to mark the 70th anniversary of its victory in the Anti-Japanese War  taobao agent .
UN chief, experts laud China's role in WWII
UN Secretary-General Ban Ki-moon meets the press at the UN headquarters August 28, 2015.  [Photo/Xinhua]
"China's contribution and sacrifice during the Second World War is very much recognized, (China is) appreciated for all such sufferings, and sympathized by the world's people," Ban told reporters at the UN headquarters.
Japan invaded Northeast China in 1931 and had conducted a full-scale invasion since 1937. By the end of World War II, more than 35 million Chinese were killed or wounded during the Japanese aggression.
The UN secretary-general will join 30 heads of state, including Russian President Vladimir Putin and Republic of Korea President Park Geun-hie, in attending the upcoming celebrations of the victory in the Anti-Japanese War.
China, which won the war in the major oriental theatre of WWII, will stage a grand military parade in the heart of Beijing to mark the anniversary on Sept. 3.
Asked about his response to the reported Japanese concern on his upcoming China visit, the secretary-general said it is very important for the world community to learn from the past and move forward.
The Chinese people's contribution to the victory in World War II has been significantly underestimated until recently, said Nikolay Samoylov, an East Asia expert at St. Petersburg State University.
The Chinese people deserve credit for having faced the threat single-handedly in the early years of the war following the beginning of overt Japanese aggression in 1931, Samoylov said on the eve of the 70th anniversary of the end of World War II and the liberation of China from Japanese aggression.
Ukrainian historian Oleksiy Koval called China's resistance against Japanese invasion an example of the nation's struggle for freedom.
"China's resistance to Japanese aggression can be called one of the most heroic and tragic pages of World War II," said the expert, who is also a member of the Ukrainian Sinologists Association.
During the conflict, Chinese people showed exceptional courage and made an enormous national sacrifice, he said.
Chinese people's role in defeating Fascism deserves greater recognition, said Kazakh President Nursultan Nazarbayev.
China made unmeasurable contributions to the Allied victory in WWII, Nazarbayev told Xinhua in an interview before departing for China to attend the Sept. 3 parade.
China's military parade symbolizes a sense of pride and is a celebration for heroism and the older generation's remarkable feats, he said.
Nazarbayev also expressed concern about some forces' attempt to distort the history of WWII, saying the deliberate manipulation of history has become a publicity means for some politicians.
The distortion of history aims to serve for short-term political interests, including stirring up social hatred, he said  Taobao Intermediate .