Chinascope – Page 1092

2010: China’s Mergers and Acquisitions Overseas

According to a report from PricewaterhouseCoopers, in 2010, Chinese companies transacted 188 mergers and acquisitions (M&A) overseas. Totaling US$38 billion, this represented a 30% increase over the previous year. Thirty-four M&As occurred in the United States, which was the largest share. While the majority of M&As appeared to be in mining, metal, and chemical plants, the number in the technology sector increased from 11 in 2009 to 24 in 2010. Regarding whether China is treated fairly in its M&A activities in the United States, PricewaterhouseCoopers stated that the government review and approval process is the same for Chinese companies as it is for their competitors.

Source: Jinghua Times, January 18, 2011
http://epaper.jinghua.cn/html/2011-01/18/content_624117.htm

Briefings | | January 20, 2011 | Geo-Strategic Trend

International Herald Leader: Managing Sino-US Relations

According to an article in the International Herald Leader, there is not much room for the Sino-U.S. relationship to expand. The priority should be to manage, rather than develop, the bilateral relationship. The article states that there is no way whatsoever for China to satisfy the U.S. requests on the issues of RMB appreciation, global energy dominated by the U.S., or China’s military modernization. There is no misunderstanding between the two – what exists is truly that their interests are at stake. “What is important now is how to manage the fundamentals and major differences in the bilateral relationship, rather than to explore ways to further develop mutual understanding and common interests, so that these differences will not affect cooperation in other areas.”

Source: Xinhua, January 14, 2011
http://news.xinhuanet.com/herald/2011-01/14/c_13690481.htm

Briefings | | January 20, 2011 | US-China Relations

CNS: New Confucius Statue Erected in Tiananmen Square

China News Service (CNS) reported on January 12, 2011, that a new 17-ton bronze statue of Confucius was erected in front of the north gate of The National Museum of China. The statue is 9.5 meters tall. Throughout Chinese history, up until the Cultural Revolution, the Chinese people considered Confucius to be a “sage.” Lu Zhangshen, Director of the National Museum, said that he considers Confucius to be “the business card of Chinese Culture.” Lu also believes that the statue “matches the museum’s cultural orientation.” Several tourists told the reporter that they hope to see more instances of traditional Chinese culture brought to modern life.

(Ed: According to Wikipedia, "during the Cultural Revolution, Confucianism was frequently attacked by leading figures in the Communist Party of China…")

Sources: China News Service (CNS), January 12, 2011
http://www.chinanews.com/cul/2011/01-12/2783547.shtml Wikipedia: http://wikipedia.org/wiki/Confucius

Briefings | | January 19, 2011 | Government/Politics

Xinhua News Agency Establishes New Media Base

On January 11, 2011, Xinhua News Agency and the city of Beijing jointly held an unveiling ceremony for the Xinhua Net Industrial Park. The park is Xinhua’s first media high-tech development base designed to improve distribution capabilities and competitiveness in new media channels. In its publication business, Xinhua News Agency pays close attention to new media. The park plans to attract more partners and to join international competitions. Some of the goals in establishing the park were to enhance China’s “soft power” and to enhance “the capacity to guide public opinion.” As part of the plan, the park is to integrate various national level government websites as well as a “national search engine,” multimedia technologies, mobile interconnectivity, network video, digital publication, and e-commerce.

Source: Xinhua, January 11, 2011
http://news.xinhuanet.com/2011-01/11/c_12969805.htm

Briefings | | January 19, 2011 | Information/Technology

CNS: Chinese Investment in Brazil Has Dramatically Increased

China News Service (CNS) recently reported that, in 2010, China became Brazil’s largest investor – up from the 20th in 2009. In 2010, the estimated total investment from China was US$12 billion. The amount invested between 2001 and 2009 was only US$213 million. Chinese investments in Brazil have focused on the energy, mining, steel, and oil industries. Brazil is planning to invest US$1 trillion over the next few years to prepare for the Olympics and the World Cup. China considers this to be an opportunity. Brazil’s Stock Exchange is working with Chinese stock exchanges to allow Chinese companies to do IPOs in Hong Kong and Brazil simultaneously. The Brazilian economy has demonstrated very strong growth in the past decade.

Source: China News Service (CNS), January 12, 2011
http://www.chinanews.com/cj/2011/01-12/2783792.shtml

Briefings | | January 19, 2011 | Economy/Resources

Chinese Scholar Proposes a New East Asia Strategy: Be Powerful but Humble

[Editor’s Note: Government think tanks have recently had extensive debates about the direction of China’s foreign policy. The main focus is whether to continue the “low profile” strategy that Deng Xiaoping instituted in 1989 or switch to an aggressive approach to demonstrate China’s growing power. This article and the one following reflect these opposing views. Nanfang Daily online published an article by Wang Yizhou, a Beijing University professor, proposing a powerful but humble approach. In the following article, published in the International Herald Leader, the title expresses the author’s view: "China’s Foreign Diplomacy Should Reflect Its ‘World Number Two’ Status."

Wang Yizhou argued that “China still has a long way to go before becoming a truly developed country.” “For its foreign diplomacy and strategy, soothing relations with its neighbors and deepening regional cooperation is critical in order for China to maintain a good environment for development and to step into its role as a world power.”] [1]

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Reports | | January 18, 2011 | Report

In Honor of Its 90th Birthday, the CCP Directs the Nation to Eulogize Its History

On January 1, 2011, Qiushi, a magazine of the CCP Central Committee, published an editorial about recognizing the 90th anniversary of the establishment of the CCP, which will be on July 1, 2011. The editorial says that the Party’s leadership is the fundamental guarantee for achieving the goals laid out in the economic and social development plan for the next five years.

The Committee directed the nation to: “Use the 90th anniversary of the CCP’s birthday as an opportunity to enthusiastically eulogize the Chinese Communist Party’s glorious history and great achievements, and to vigorously propagandize the important significance and newest accomplishments of modernized and popularized Marxism in China.”

Source: Qiushi, January 1, 2011
http://www.qsjournal.com.cn/zxdk/2011/201101/201012/t20101229_60854.htm

Briefings | | January 18, 2011 | Government/Politics

China’s Reaction to Trump’s Election Win

Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized