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Pan Asia Nonferrous Metals Exchange Is a State Ponzi Scheme

The Pan Asia Nonferrous Metals Exchange was once an attractive investment platform that the government promoted in 2011. Over 220,000 people invested a total of 43 billion yuan (US$6 billion) in it. However, in 2015, it turned out that it was a Ponzi scheme and most people lost their money.

Investors have repeatedly appealed to both the Yunnan Provincial government and the central government to request help in order to recover their losses, but, so far, the government has provided no response.

Recently, a video was posted on YouTube with edited video clips promoting Pan Asia from the China Central Television (CCTV). These showed that the government was responsible for crediting and promoting Pan Asia in its earlier years. The video clips showed CCTV’s vigorous introduction of the nonferrous metal exchange platform, broadcasting Pan Asia’s collaboration with CCTV, and promoting Pan Asia’s business.

Source: Radio France International, September 24, 2016
http://cn.rfi.fr/中国/20160924-泛亚诈骗:国家导演的庞氏骗局

People’s Daily: “The Borderline Is the Bottom Line!”

For the past few weeks, China and India have had a standoff in a disputed area between China and Bhutan.

The Chinese call the disputed highland region “Donglang” and the Indians call it “Doklam.” It is on the border between China and Bhutan. Bhutan is China’s only neighboring country that has not established a formal diplomatic relationship with China, mainly due to the border dispute.

Recently, China started building a road in the disputed area. India then sent its soldiers to block China from building the road.

An Indian brigadier-general said, “We didn’t fire. We only formed a human body wall to prevent Chinese from continuing its invasion.”

China’s Ambassador Luo Zhaohui said during an interview, “This is the first time that the Indian military crossed the predefined borderline to invade China’s territory, causing the military standoff.” “There is no disagreement between China and Bhutan that Donglang belongs to China. India has no right to intervene in Sino-Bhutan negotiations, nor does it have the right to advocate for territory for Bhutan.”

On July 7, People’s Daily’s official weibo account published a picture with the title, “The Borderline Is the Bottom Line.” The picture is the border map showing the area of China, India, and Bhutan. It shows Donglang is in China. It also shows an arrow pointing from India to China. The note read, “The Indian military illegally crossed the border to enter China’s side.”

{Editor’s note: According to an article published in War on the Rocks on July 13, 2017, when China initiated its road building, “(India) in ‘close coordination’ with a Royal Bhutan Army patrol approached the Chinese construction party and urged them to desist… (This) appears to be an attempt to wean Bhutan away from India.”}

Sources:
1. Weibo
http://weibo.com/p/100808b2f565c3e128dcf37ac2e69d40235183?k=界线即是底线&from=526&_from_=huati_topic
2. BBC, July 5, 2017
http://www.bbc.com/zhongwen/trad/world-40503298

BBC Chinese: China Seems to Be Planning to Ban VPNs

BBC Chinese recently reported, based on a number of media sources, that the Chinese government appears to have become much stricter on domestic Internet access control. The three primary Chinese communications companies have been ordered that, by February 2018, they must ban Virtual Private Networks (VPNs) on their Internet networks. VPN refers to the technology to form an encrypted secure channel to go across the public Internet. This is the primary technology for Chinese netizens to access the free Internet outside of China’s “Great Firewall.” It has been estimated that over 30 percent of the 700 million Chinese Internet users depend on VPN technology to break the government’s firewall to visit banned websites such as Facebook and Twitter. It is technically challenging to fully ban VPN usage. At the same time, it may also impact the international companies that use VPN technology for their secure connections to their headquarters’ networks for legitimate business purposes. The VPN ban will further limit Chinese scientists, researchers, and scholars from their day-to-day research work and their communications with foreigners in the same field. Experts expressed their belief that this recent VPN ban demonstrates the Chinese government’s desperation in its attempt to obtain tight Internet control.

Source: BBC Chinese, July 12, 2017
http://www.bbc.com/zhongwen/simp/press-review-40580679

Caixin: Chinese International Travelers Significantly Changed Their Spending Pattern

The well-known Chinese financial news media group Caixin recently reported that Chinese international travelers have been labeled as major spenders. The United Nations World Tourism Organization’s (UNWTO) 2016 numbers showed that Chinese consumer’s international spending reached US$261 billion, which was more than twice the U.S. total (the U.S. spending was ranked number two). However, international consulting company Oliver Wyman just released a study showing some significant changes in the pattern of Chinese’ international spending habits. The report showed that, starting in 2016, Chinese international tourists spent only 33 percent in their total overseas expenditures on buying physical products. The same number was 41 percent in 2015. The statistics also showed that those who are still interested in buying physical products are among the lower income population. The spending trend is shifting to the categories of “Sightseeing” (ranked number one) and “Entertainment” (ranked number two). The research also showed that Chinese travelers depend heavily on Chinese language website reviews and on security incident news about the destination countries.

Source: Caixin, July 12, 2017
http://international.caixin.com/2017-07-12/101114417.html

China’s First Overseas Military Base Caused U.S. Worries

Well-known Chinese news site Sina recently reported that China’s first military base outside China was officially established on July 11. The Chinese Naval Base at Djibouti is currently serving as a logistics supply provider for the Chinese Navy. The Chinese Ministry of Foreign Affairs emphasized that the Djibouti Base is only a small scale logistics base for peace-keeping missions. It cannot be compared with full-blown military bases that the U.S., France, and Japan have nearby. However, some Chinese analysts have been reading the language between the lines in the U.S. media such as the New York Times for concerns. The analysts expressed their belief that the U.S. was worried about the short distance to the nearby U.S. Camp Lemonnier, which is one of the largest U.S. permanent overseas military bases. Secondly, the U.S. may be worried about its dominant status in the region.

Source: Sina, July 12, 2017
http://dailynews.sina.com/bg/chn/chnpolitics/chinapress/20170712/08197951823.html

China’s SOEs Are the Largest Oil Drilling Contractors in Kuwait

According to an article that China.org published, China’s State Owned Enterprises (SOEs) broke through the domination that the U.S. and the European countries held and became the largest oil drilling contractors in Kuwait, which is considered a strategic partner of China’s “one belt one road” project. The SOEs have built 53 teams in Kuwait and employ over 3,000 Chinese and foreign workers. They own 53 drillers and hold 45 percent of the oil drilling market share. The article claimed that by the end of first quarter in 2017, China’s SOEs will be responsible for a total of 64 projects in the amount US$13.7 billion in Kuwait. The projects range from oilfield services, exploration, refinery, housing, and infrastructure, to telecommunications.

Source: China.org, July 16, 2017
http://news.china.com.cn/2017-07/16/content_41222830.htm

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