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The Daily Brief for Tuesday, 11 April 2017

Samsung, change needed: In 1993 Samsung started a journey that saw it become one of the world’s leading electronics groups, after founder Lee Kun-hee told his employers “Change everything but your wife and children”. Andreea Zaharia argues that the bribery and embezzlement crisis facing the biggest of the South Korean conglomerates will actually see it successfully reinvent itself once again.

Putin, in charge? It is highly unlikely that President Putin would have sanctioned a sarin attack in Syria because it would certainly derail a Russian peace process that he hoped Washington would eventually support. Stephen Bryen explains how some are now suggesting the various confrontations against the West in Easter Europe, the North Sea, Black Sea and Atlantic, are actually promoted by the Russian military and are not actually supported by Russia’s civilians leaders.

Thailand separatist escalation: In the wake of an upsurge of attacks across Thailand’s three volatile southernmost border provinces, the region’s foremost Malay-Muslim separatist faction, the Barisan Revolusi Nasional (BRN), has issued a rare communiqué. Anthony Davis reports the statement brushes aside the ruling junta’s current negotiation attempts and reflects the rising anger over the controversial and slow-moving peace process.

China’s deadly secrets: Beijing remains the world’s top executioner, an Amnesty International claims, and in 2016 killed more prisoners than all other countries put together. Liu Hsiu Wen writes that while China has also sought greater international co-operation in combating terrorism and drug trafficking, Amnesty says its lack of transparency in relation to its own enforcement methods remain a concern.

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Posted inBeijingChinaChongqingTianjin

China Digest for Tuesday, 11 April 2017

Banking regulator highlights property risk control

China Banking Regulatory Commission named 10 risks to tame, including those related to credit, liquidity, property, local government default, bond volatility and internet finance, National Business Daily reported.

CBRC fines 17 banks for 25 irregularities

The China Banking Regulatory Commission said it fined 17 financial institutions a total of 42.9 million yuan (US$6.21 million) for evading rules and violating policies, with Ping An Bank accounting for 16.7 million of that, followed by Hua Xia Bank and EGB.

PBOC spearheads modern financial regulatory regime in new zone

The central bank held a joint discussion panel with other top government bodies to devise a concept for a unified approach on financial regulation that parallels the integrated development of the Beijing-Tianjin-Hebei cluster, Securities Daily reported, citing Pan Gongsheng, a vice governor of the central bank.

Irrational overseas investment should not be allowed: Xinhua

Blind and uncontrolled spending on foreign assets must not be allowed, Xinhua said in a commentary. A government clampdown on “irrational speculation” on overseas assets led to a 52.8% drop in non-financial outward direct investment in January and February from a year earlier, Xinhua said.

NDRC calls for further power industry deregulation

National Development and Reform Commission urges local government to further reform the power sector and avoid the construction of unnecessary plants that have no demand in the market, National Business Daily reported.

Mortgages account for 60% of Big Four’s new loans in 2016

The four biggest state-owned banks — ICBC, CCB, ABC and BOC — issued 2.7 trillion yuan of housing loans in 2016, accounting for more than 60% of new home lending, according to China Economic Weekly.

Info Tech sector is the largest component of SZSE

Info Technology companies accounted for about one-fifth of the value of the Shenzhen Stock Exchange, with a market capitalization of 4.1 trillion yuan (US$594 billion) at the end of March.

Cloud computing on… a cloud

The cloud computing industry is expected to reach 430 billion yuan by 2019, with two or three leading Chinese enterprises accounting for a major share of the global cloud computing market, the Ministry of Industry and Information said, reported by Caixin.

10% of companies reliant on government handouts

Government subsidies of 34 billion yuan made up more than half the profits for about 10% of listed companies that have announced earnings, Securities Daily reported.

Chongqing targets decorations to drive growth

Chongqing is targeting a slice of the high-end decorations market — forecast to reach 500 billion yuan by 2020 — as a key driver of growth after its auto and electronics industries, 21st Century Herald said.

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