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Liberty Times: American Investors Stop Investing in China

Liberty Times reported that the wealthy American investor Tim Draper announced that he has stopped investing in China or in any companies headquartered in China, due to difficulties in getting money out of China.

Draper is a famous investor from the United States. In the past, he successfully invested in Tesla, Hotmail, and Skype.

In the past few years, China has experienced a slowdown in economic growth and in money outflow. To reduce the pressure on Renminbi devaluation and save its foreign reserves that have been dropping rapidly, Beijing has taken a series of actions since November of last year to tighten the control of capital, preventing companies from sending money out of China.

Itamar Har-Even, the Co-CEO of Ion Pacific, a Hong Kong consulting company for investment banking and funds management, thinks that China’s capital control has hurt many companies’ global investment desires. He said, “We have spent a lot of time (thinking about) how to get money out of China.”

Source: Liberty Times Net, June 7, 2017
http://news.ltn.com.tw/news/business/paper/1108450

Chinese Helicopter Crossed Sino-Indian Border before Xi’s Meeting with Modi

On June 4, a People’s Liberation Army (PLA) helicopter flew inside India’s Arunachal Pradesh and made a landing. It then returned five minutes later. Both China and India claim this region, but it is currently under India’s control.

The Indian government strongly protested the border crossing and stated that, in the upcoming meeting with Xi Jinping, Indian Prime Minister Narendra Modi would demand an explanation from China’s President Xi.

Xi and Modi then met at the Shanghai Cooperation Organization on June 9. It is not clear whether Modi requested an explanation.

An earlier incident occurred in 2014. While Xi was visiting India and was about to meet Modi to negotiate an investment of $20 billion, the PLA army crossed the China-Indian border and camped on the Indian side. Many people think that Xi’s political opponents in China set up the incident.

Source: DW News, June 5, 2017
http://global.dwnews.com/news/2017-06-05/59818526.html

Wu Chi-wai: China Is Changing the “One Country, Two Systems” in Hong Kong

July 1 will be the twentieth anniversary of Hong Kong’s return to China. The Democratic Party in Hong Kong held a forum on June 11 to discuss the “One Country, Two Systems” situation in Hong Kong.

Wu Chi-wai, the Chairman of the Democratic Party said, “From the 2014 (Beijing’s) People’s Congress’ whitepaper on implementing the ‘One Country, Two Systems” in Hong Kong to the speech that Zhang Dejiang (Chairman of the People’s Congress) gave recently, you can see that the central government has a general goal: to use a series of approaches to effect the gradual conversion of the hidden powers (of the central government), as defined in the Basic Law, into truly effective, clear, standardized, and enforceable powers (for the central government). This is having a big impact on (the principles of) ‘One Country, Two Systems,’ that ‘Hongkongese rely on to manage Hong Kong,’ and its ‘High-degree of self-determination.’”

Wu expressed that C.Y. Leung has long been claiming a severe “Hong Kong Independence” issue. This has given the Communist Regime in China an excuse to interfere in Hong Kong’s internal affairs.

Sources:

1. YouTube, June 11, 2017
https://www.youtube.com/watch?v=z-Ng-QQXCdg, June 11, 2017
2. New Tang Dynasty TV, June 14, 2017
http://www.ntdtv.com/xtr/gb/2017/06/14/a1329003_p.html

Xi Jinping Authorized New Medals for the PLA

On June 12, Xi Jinping, Chairman of the Central Military Commission, authorized the issuance of the “August 1 Medal” to the People’s Liberation Army’s (PLA’s) staff. August 1 is the PLA’s Army Day.

This is the third time that the PLA will be awarded medals. The previous two times were in 1955 and 1988, by Mao Zedong and Deng Xiaoping, respectively.

Source: Xinhua, June 12, 2017
http://news.xinhuanet.com/politics/2017-06/12/c_1121128933.htm

Ten Officials from the Financial Oversight Offices Were Taken Down

Xi Jinping and Wang Qishan expanded the anti-corruption campaign into the financial sector this year.  The Communist Party’s Central Commission on Discipline Inspection (CCDI) listed 53 officials in the financial sector who have been taken down since 2012. Among them, ten were from the four top financial oversight offices: the Central Bank (People’s Bank of China), China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC), and the China Insurance Regulatory Commission (CIRC).

Among those ten, five were from the CSRC, four from CBRC, and one from CIRC. However, the CIRC official held the highest rank: Xiang Junbo (项俊波), Chairman of the CIRC. No one from the Central Bank was taken down.

Source: Phoenix New Media, May 7, 2017
http://news.ifeng.com/a/20170507/51055004_0.shtml?wratingModule=1_9_1

China Intensified Internet Blockade during June 4 Period

On April 15, 1989, former Chinese Communist Party (CCP) leader Hu Yaobang died. Hu had worked to move China toward a more open political system and had become a symbol of democratic reform. By April 18, thousands of students had come to Tiananmen Square to mourn his passing. As more arrived, protests against corruption and for greater democracy ensued. The numbers grew; it is estimated that as many as one million Chinese, mostly students, came to Tiananmen. On June 4, 1989, the CCP used tanks and guns to crack down on the democracy demonstration. This event became known as the Tiananmen Massacre. Since then, every year during the June 4 anniversary, the CCP has been on alert and has taken extreme measures to prevent any form of protest.

According to Radio Free Asia (RFA), this year the CCP intensified its Internet blockade. Many Wechat accounts and even Facebook accounts were blocked. (Wechat is the most popular social media network phone application among Chinese). VPN software that people used to bypass the Internet blockade couldn’t connect to the Internet overseas either.

A netizen Zhu Xueqin said that she posted a video of pigs with a comment on Facebook:  “It is a grief to be a pig in China, but it is a greater grief to be a Chinese.” She was referring to a report that many pork producers fed pigs with chemicals to shorten the pig’s growth period from a year to only a few months. Her Facebook account was blocked.

Source: RFA, May 31, 2017
http://www.rfa.org/mandarin/yataibaodao/meiti/ql1-05312017102521.html

 

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