Posted inChina, Japan, Middle East, Northeast Asia, World

The Daily Brief for Friday, 24 February 2017

Duterte murder claims: Resurfaced allegations that Philippine President Rodrigo Duterte previously oversaw death squad assassinations threaten to destabilize his strongman rule, reports George Amurao. Philippine senators have voted to reopen a previous inquiry into claims that Duterte, while serving as Davao City’s mayor, created and commanded a vigilante squad responsible for 1,424 extrajudicial killings.

China and Japan: In an interview with the Asia Times, Daniel C. Sneider says fears of Trump giving China a free rein in East Asia are misplaced. Doug Tsuruoka writes that this associate director of research for Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center, who is also an authority on US, Japan and Korea relations, feels that for China and Japan to ever get on the same page it may mean the US has to get out of the middle.

Rooney staying put: Manchester United and England captain Wayne Rooney has announced he is staying in England following persistent speculation he was about to make a lucrative US$1.25 million a week move to the Chinese Super League.
The Asia Times reports that the move would have made Rooney the world’s best paid player but, after his agent traveled to China this week to speak to interested clubs, the player released a statement yesterday insisting he was remaining in Manchester.

Change at Nissan: Carlos Ghosn will step aside as CEO of Nissan Motors after leading the company for 16 years, allowing him to concentrate on deploying his cost-cutting expertise across its alliance with Renault and newly added Mitsubishi Motors. Reuters reports that in handing the helm to company veteran, Hiroto Saikawa, Ghosn ends speculation over when he would relinquish the top job at Japan’s second-biggest automaker amid investor concerns that he was stretching himself too thin.

Posted inChina, Chongqing, Shanghai, World

China Digest for Friday, 24 February 2017

Domestic bond market to open to foreign capital: PBOC economist

The State Administration of Foreign Exchange plans to open the domestic foreign exchange derivatives market to overseas non-central bank institutional investors, Caixin reported on Thursday. Ma Jun, chief economist in the research bureau of the People’s Bank of China, said this was to attract more foreign capital to the interbank bond market.

US drops complaint against Chinese steelmakers

The United States International Trade Commission has dropped a complaint against China’s steel producers, The Paper reported on Wednesday, which will benefit around 40 firms who export goods to the US. The Chinese Ministry of Commerce said the complaint sought to prevent steel products from entering America.

Draft property tax law almost ready: deputy housing minister

A draft property tax law is close to being ready for submission to the National People’s Congress, said Lu Kehua, the deputy housing minister, in a Xinhua state news agency report. A trial of the tax law was implemented in Shanghai and Chongqing that saw taxes imposed on property transactions.

Futures-trading firms deny ban on asset management business

Futures-trading companies say they are operating as normal and have not been banned from the asset management business, The Paper said on Thursday evening. The firms denied knowledge of new securities regulations barring them from selling asset management products, rejecting a Tuesday report in Caixin. Asset management business by futures-trading companies rose 167% in 2016 to 279.2 billion yuan (US$40.52 billion), the biggest increase compared with securities companies and private equities, it said.

Name change for SF Express listing vehicle

Maanshan Dingtai Rare Earth & New Materials Co Ltd, the shell company used for the back-door listing of delivery giant S.F. Express on the Shenzhen Stock Exchange on February 23, said it would change its name to SF Express Co Ltd. The stock code will remain the same. The stock also reached its daily trading limit on the first day of its listing.

We signed deal to buy Premier League club Southampton: Lander

Lander Sports Development, a real estate company listed in Shenzhen, confirmed to The Paper on Thursday evening that it had signed an agreement in January to buy Southampton Football Club. But a Reuters report said on Wednesday that CITIC Securities and materials giant Amer International are involved in a joint US$300 million bid to buy the club. Lander Sports had said in a stock exchange announcement in January that an agreement had been reached with Saints owner Katharina Liebherr, The Paper said.

Human rights law campaigner to resign from NPCSC

The deputy secretary general of the Central Political and Law Commission, Xu Xianming will resign as a member of the National People’s Congress Standing Committee (NPCSC), Caixin reported on Thursday night. According to the NPC’s organizational law, standing committee members cannot hold posts in the country’s administrative, judicial or prosecution bodies. Xu has been campaigning to include a human rights law in the constitution.

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