IFR Asia 858 – August 23, 2014 | By Lianting Tu Wealth-management assets in China’s banking sector jumped more than 23% in the first half of this year, but most of these are either invested in low risk securities or cash, not risky shadow banking
Fin Alt The former chairman of China’s largest private bank has raised more than US$8 billion for a private equity fund, instantly making it one of the country’s largest. Dong Wenbiao’s China Minsheng Investment Corp. launched in Shanghai last week with 50 billion yuan (US$8.1
Yao Chen has more followers on Weibo (China’s version of Twitter & Facebook) than the population of Britain. That’s 71 million followers. 5% of the population of China is following her on Weibo and hang on her every word. Her blog is focused on helping
Want China Times Russian media say China has become one of the few nations capable of building a high-definition Earth observation satellite after it launched its first, and with existing weapons the system may be one of the most powerful in the world, reports Duowei,
Dan Collins CMR The S&P 500 benchmark hit a new all-time high today surpassing 2,000 for the first time. The P/E multiples of the listed companies continue to expand as earnings for corporate America stay relatively flat. The trillions of printed Dollars must of course
Shanghai to San Francisco in 100 minutes by Chinese supersonic submarine China has moved a step closer to creating a supersonic submarine that could travel from Shanghai to San Francisco in less than two hours. New technology developed by a team of scientists at Harbin
While the Mexican military spends its time supporting human and drug smuggling into the American Southwest; on the other side of the world North Korea has lined up tanks to stop its impoverished people from escaping. Thats the difference between two superpowers, the new strong
India is building a new 62-billion-rupee (US$1.02 billion) mountain strike corps to counter China along the China-India border in the northeastern part of the country, according to a report from the New Delhi-based Hindustan Times. The report said General Dalbir Singh Suhag, Chief of the
Shanghai Daily OFFSHORE investors are rallying behind China’s undervalued equities by plowing billions of dollars into Hong Kong’s exchange-traded funds denominated in the yuan currency. As a scheme to allow more foreign inflows into Chinese stocks draws near, fund managers are wagering on a sustained
Dan Collins CMR An article appeared in Bloomberg several days ago that cross-border investment outflow from the U.S. hit a new record as China and Japan reduced their holdings of Treasuries and private investors abroad sold bonds and notes. June had a very strong sell
Want China Times Japan is reportedly considering selling arms to members of the Association of Southeast Asian Nations in response to China’s growing influence in the region and aggressiveness in asserting maritime claims. Tokyo has decided to hold a seminar late September to meet diplomatic
According to the South Korean, “Chosun Ilbo” news outlet, North Korea has recently published a new batch of 5,000 Won Currency notes with the portrait of the “Dear Leader Kim Il Sung. The North Korean press stated that the new notes were not intended to
Industrial production in Italy is down to 1980 levels. Its GDP has collapsed almost 10% back to the year 2000 level. That won’t stop policy makers from fixing the GDP numbers. Just add in drugs, prostitution, and arms trafficking.
Dan Collins CMR The purge continues. Communist Oligarchs continue to battle it out in the worlds largest nation. Billionaires and millionaires are falling by the minute. If your on the wrong side of Premiere Xi Jinping then your on the run. And unlike Russian oligarch
IFR Asia 858 – August 23, 2014 | By Lianting Tu
Wealth-management assets in China’s banking sector jumped more
than 23% in the first half of this year, but most of these are
either invested in low risk securities or cash, not risky shadow
banking investments, according to a landmark report the China
Banking Regulatory Commission had authorised.
The report, published last week, unveils details of wealth-
management exposures at China’s banks for the first time, shedding
light on a murky sector often associated with the shadow banking
The total outstanding amount of assets in bank wealth-management
products (WMPs) stood at Rmb12.65trn (US$2trn) at the end of June,
up 23.5% from the end of 2013, the China Banking Wealth Management
Registration System said in the report.
The total is about one third of the size of China’s domestic bond
market and close to a quarter of the country’s 2013
Of greater significance to many analysts, however, are the report’s
revelations on underlying asset quality. As of June 30, about 40% of
China’s WMP assets were invested in bonds and money-market funds and
about 30% were in cash and bank deposits, suggesting the industry is
less exposed to risky, shadow banking assets than previously assumed.
The former chairman of China’s largest private bank has raised
more than US$8 billion for a private equity fund, instantly
making it one of the country’s largest.
Dong Wenbiao’s China Minsheng Investment Corp. launched in
Shanghai last week with 50 billion yuan (US$8.1 billion),
The Wall Street Journal reports. That’s larger than any of the
Asia-focused p.e. funds raised by industry giants Kohlberg
Kravis Roberts, CVC Capital or TPG Capital recently.
While most of Minsheng Investment’s assets will be deployed to
private-equity investments, some will be used to found a
real-estate development company and a Hong Kong investment bank.
Dong was chairman of China Minsheng Banking Corp. until his
resignation just days before Minsheng Investments’ launch.
Despite the similarity in name, and Dong’s hire of several
Minsheng Banking veterans, the two firms are not legally related.
Yao Chen has more followers on Weibo (China’s version of Twitter & Facebook)
than the population of Britain. That’s 71 million followers. 5% of the
population of China is following her on Weibo and hang on her every word.
Her blog is focused on helping causes. Many children’s operations have been
paid for by her followers. Some followers have donated their life savings to
causes she supports.
Forbes now ranks her 83rd among the world’s most influential women in the world.
The story mostly not covered in mainstream media is how China is becoming a
Christian country. You can’t go anywhere now in Zhejiang province without
running into newly built churches. As the West de-Christianzes the Mainland
is becoming more Christian. Its a bizarre turn of events similar to the
economic systems as the United States turned toward Oligopolies and
Central planning while China became a free market.
Yao is reported to have discovered Christianity when she was 25.
She often quotes from the Bible. “When I was younger a family member shared
the gospel with me,” she explains. “And over the course of that summer
I read the Bible and it just answered all of the questions I had about life,
so very soon after I was baptised.”
She largely stays away from politics but hits on sensitive topics from time to time.
One on post, she joked that her son wouldn’t recognise a blue sky unless he
saw one in a history book.
Want China Times
Russian media say China has become one of the few nations capable of
building a high-definition Earth observation satellite after it launched
its first, and with existing weapons the system may be one of the most
powerful in the world, reports Duowei, an outlet run by overseas Chinese.
The observation satellite Gaofen-2 launched Aug. 19 from the Taiyuan
Satellite Launch Center, is able to discern one-meter-long objects on
the ground with high resolution in full color. Russia’s latest observation
satellite has a 30-centimeter detection rate while that of the leading
power in the race, the US, reaches 12.7 centimeters.
China’s Aug. 19 satellite launch means that the country will be capable
of building a powerful Earth detection system in space and thus enhance
significantly its military strength. The one-meter detection rate may
seem far less powerful than the Russian or American satellites, but it
is sufficient for most military and economic detection missions, the
The Chinese military equipped with the facilities for analyzing the
satellite detection data will make a big stride in its competition
with US intelligence capability, said the report.
Duowei’s report said China’s anti-satellite development plan may be the
largest and most advanced in the world. The balance of military power
between China and the US will lean toward China significantly if the
country is to combine its space detection system and existing mid-range
missiles capable of covering the Asia-Pacific region, despite the fact
that the facilities are inferior to those possessed by the US.
The S&P 500 benchmark hit a new all-time high today surpassing 2,000
for the first time. The P/E multiples of the listed companies continue
to expand as earnings for corporate America stay relatively flat.
The trillions of printed Dollars must of course go somewhere, why not
into companies that at least have real assets of some kinds. Of course,
most U.S. companies no longer have capital assets such as plants and
equipment, instead they have become warehouse and distribution businesses
that source from China.
If there was ever a sure sign that showed us that financial markets and
the real economy have become totally separated look no further than the
fact that as the stock indices hit all new time highs, while the welfare
rolls march lockstep with the markets and continue to break new records.
In this brave new world of free money for bankers and outsourcing
for everyone else, you expect to see these type of economic dichotomies
surface. They are warning signs of an entire system crashing down
and this type of economic situation can of course only be a temporary
There are now 109,631,000 Americans living in households that received
benefits from one or more federally funded “means-tested programs” — also
known as welfare — as of the fourth quarter of 2012. This number equaled
35.4 percent of all 309,467,000 people living in the United States at that
time. The U.S. has over 50 million on food stamps, 11 million on disability,
and millions more on extended unemployment benefits.
The total benefit takers on the record as of now are 153.3 million people
which equals 49.5 percent of the population. There are only 142.4 million
people in Russia.
The United States now has more people on welfare than the
entire population of Russia.
American economic fundamentals are collapsing before our eyes. The loss
of 65,000 factories over ten years combine with bleak employment numbers.
Only 62.8% of Americans participate in the work force today — the lowest level
Recent June numbers show that 288,000 jobs were created in June.
But full-time jobs declined by 523,000 while part time jobs increased by
This rise in part-time jobs is expected to continue because it is driven
in part by Obamacare, which does not require coverage for part-time workers.
U.S. companies even large brand name American companies such as Burger King
are now fleeing the country as fast as they can getting their tax base out
of the United States. The United States has for a decade practised the
financial prudence more reminiscent of a Latin American banana republic…
with companies and business now fleeing the country the comparisons can
no longer stay hidden.
Shanghai to San Francisco in 100 minutes by Chinese supersonic submarine
China has moved a step closer to creating a supersonic submarine that
could travel from Shanghai to San Francisco in less than two hours.
New technology developed by a team of scientists at Harbin Institute of
Technology’s Complex Flow and Heat Transfer Lab has made it easier for a
submarine, or torpedo, to travel at extremely high speeds underwater.
Li Fengchen, professor of fluid machinery and engineering, said the team’s
innovative approach meant they could now create the complicated air “bubble”
required for rapid underwater travel. “We are very excited by its potential,”
Water produces more friction, or drag, on an object than air, which means
conventional submarines cannot travel as fast as an aircraft. However, during
the cold war, the Soviet military developed a technology called supercavitation,
which involves enveloping a submerged vessel inside an air bubble to avoid
problems caused by water drag.
A Soviet supercavitation torpedo called Shakval was able to reach a speed
of 370km/h or more – much faster than any other conventional torpedoes.
In theory, a supercavitating vessel could reach the speed of sound underwater,
or about 5,800km/h, which would reduce the journey time for a transatlantic
underwater cruise to less than an hour, and for a transpacific journey to
about 100 minutes, according to a report by California Institute of Technology
However, supercavitation technology has faced two major problems. First, the
submerged vessel has needed to be launched at high speeds, approaching 100km/h,
to generate and maintain the air bubble.
Second, it is extremely difficult – if not impossible – to steer the vessel
using conventional mechanisms, such as a rudder, which are inside the bubble
without any direct contact with water.
As a result, its application has been limited to unmanned vessels, such as
torpedoes, but nearly all of these torpedoes were fired in a straight line
because they had limited ability to turn.
Li said the team of Chinese scientists had found an innovative means of addressing
both problems. Once in the water, the team’s supercavitation vessel would constantly
“shower” a special liquid membrane on its own surface. Although this membrane would
be worn off by water, in the meantime it could significantly reduce the water drag
on the vessel at low speed.
After its speed had reached 75km/h or more the vessel would enter the supercavitation
state. The man-made liquid membrane on the vessel surface could help with steering
because, with precise control, different levels of friction could be created on
different parts of the vessel.
“Our method is different from any other approach, such as vector propulsion,” or
thrust created by an engine, Li said. “By combining liquid-membrane technology with
supercavitation, we can significantly reduce the launch challenges and make cruising
However, Li said many problems still needed to be solved before supersonic submarine
travel became feasible. Besides the control issue, a powerful underwater rocket engine
still had to be developed to give the vessel a longer range. The effective range of
the Russian supercavitation torpedoes, for example, was only between 11 km and 15 km.
Li said the supercavitation technology was not limited only to military use. In future,
it could benefit civilian underwater transport, or water sports such as swimming.
“If a swimsuit can create and hold many tiny bubbles in water, it can significantly
reduce the water drag; swimming in water could be as effortless as flying in the
sky,” he said.
Besides Russia, countries such as Germany, Iran and the United States have been
developing vessels or weapons using supercavitation technology.
Professor Wang Guoyu, the head of the Fluid Mechanics Laboratory at Beijing Institute
of Technology who is leading another state-funded research project on supercavitation,
said the global research community had been troubled for decades by the lack of
innovative ideas to address the huge scientific and engineering challenges.
“The size of the bubble is difficult to control, and the vessel is almost impossible
to steer,” he said. While cruising at high speed during supercavitation, a fin could
be snapped off if it touched the water because of the liquid’s far greater density.
While the Mexican military spends its time supporting human and drug smuggling
into the American Southwest; on the other side of the world North Korea has
lined up tanks to stop its impoverished people from escaping.
Thats the difference between two superpowers, the new strong and growing power,
China , gets respect from its neighbour. On the other hand, the United States is
a crumbling joke that now only exists to rip off what’s left.
It is estimated there are now 80 tanks on the border with China as well as the
North Korean coastal patrol with boats patrolling the Ya Lu River trying to
stop refugees fleeing the North.
India is building a new 62-billion-rupee (US$1.02 billion) mountain strike corps
to counter China along the China-India border in the northeastern part of the
country, according to a report from the New Delhi-based Hindustan Times.
The report said General Dalbir Singh Suhag, Chief of the Army Staff of the Indian
Army, is set to visit the Kolkata-based Eastern Command before the end of the month
to track the progress of the new 17 Corps, which is being set up to counter China’s
reconnaissance and intelligence along the 4,057-kilometer Line of Actual Control
(LAC) between the two countries. The corps is likely to be operational by 2022,
the report said, adding that it is expected to reduce China’s combat power
advantage over India from the current ratio of 3:1 to 2.1:1.
Singh, who recently completed a tour along the the disputed LAC in the sensitive
Ladakh area of India-controlled Jammu and Kashmir, has also served as an inspector
general in a covert China-centric unit comprising Tibetan soldiers called the
Special Frontier Force, the report added.
Additionally, India is seeking greater opportunities for defense cooperation with
the US in the development and production of modern weapons systems, the report
said, though plans to buy 145 BAE Systems M777 ultra-light howitzers from the
US for the 17 Corps have stagnated due to the high cost.
The Tribune, another English-language Indian daily newspaper, has also reported that
India is ramping up military defenses in Jammu and Kashmir after Beijing “ringed the
area” with six airfields, fighter jets and special forces. As part of the movie,
New Delhi will reportedly move an armored brigade of 150 T-72 tanks to Ladakh and
deploy Smerch multi-barrel rocket launch units — which are capable of hitting targets
70-80km away — at key locations.
The Indian media reports were published shortly before new claims that Chinese troops
crossed what New Delhi perceived to be its side of the LAC before entering 25-30km deep
into in Burtse area of north Ladakh on Sunday. India reportedly despatched a quick
reaction team to the site but the Chinese troops refused to budge. A spokesperson
from the Indian army downplayed the incident by saying that there are areas along the
border where India and China have differing perceptions of the LAC.
Zhao Gancheng, director of the Center for Asia-Pacific Studies at the Shanghai Institute
for International Studies, told China’s nationalistic tabloid Global Times that India’s
bolstering of defenses along border comes as no surprise. Due to significant differences
in perception over the LAC, Chinese and Indian troops have had many confrontations in
the area in the past, Zhao said, though it is clear that recent actions from New Delhi
are not in the interests of Sino-India relations.
OFFSHORE investors are rallying behind China’s undervalued equities by plowing
billions of dollars into Hong Kong’s exchange-traded funds denominated in the
yuan currency. As a scheme to allow more foreign inflows into Chinese stocks draws
near, fund managers are wagering on a sustained rebound for the Shanghai Composite
Index after a prolonged four-year slump has opened up opportunities to buy on the
“There were some switchings from markets where fund managers had gained positive
returns to places that they thought there could be more opportunities, and China
was to be one of them,” said Jackie Choy, an ETF strategist at researcher Morningstar.
ETFs under the Renminbi Qualified Foreign Institutional Investor posted significant
net inflows of 8.2 billion yuan (US$1.3 billion) last month, the highest since
December 2012 and nearly doubling from June, Morningstar data showed.
The majority of the net inflows went into the CSOP FTSE China A50 ETF, which
attracted an estimated 6.8 billion yuan, followed by the Bosera FTSE China A50
Index ETF, which drew around 2.4 billion yuan.
A strengthening of the yuan, which has gained 2 percent from 18-month lows hit
in April, and a recovering economy, have also helped draw foreigners to these
ETFs, analysts say. Launched in 2011, RQFII enables financial institutions to
use offshore yuan to invest in the Chinese mainland’s securities markets.
Foreign investors, who cannot directly invest in mainland equities, have eagerly
embraced the QFII and RQFII schemes to tap China’s onshore market. Chinese equity
markets were among the worst performers in the first half of this year.
The Shanghai Composite Index dropped 3.2 percent, while the US market rose
7 percent during the same period.
However, the A-share index has rebounded by nearly 10 percent in the past month
as investors prepared for the launch of the stock connect that is set to make a
debut in October and speculate on price convergence of dual-listed shares.
Yuan-denominated A shares are generally only available for purchase by mainland
Stock connect would allow mainland investors to trade shares in designated
companies listed in Hong Kong, and at the same time let Hong Kong investors
buy shares in Shanghai-listed firms.
Thanks to this surge in fund flows, the Hong Kong Monetary Authority has had to
intervene in the foreign exchange market in recent weeks to protect the Hong Kong
dollar’s peg with the US dollar. The total injection of funds was around HK$75
billion (US$9.68 billion) since July 1, a large chunk of it due to capital
inflows into markets.
“Market sentiment has started to change in the past two to three weeks and fund
managers are no longer that pessimistic about China,” Norman Chan, chief executive
at the HKMA, said last week. He was referring to the recent economic data suggesting
China may have arrested a sharp loss of momentum at the start of the year. The higher
appetite has also seen RQFII quotas being exhausted quickly in the past few months,
prompting fund mangers to apply for fresh quotas from China’s State Administration
of Foreign Exchange.
An article appeared in Bloomberg several days ago that cross-border investment
outflow from the U.S. hit a new record as China and Japan reduced their holdings
of Treasuries and private investors abroad sold bonds and notes. June had a very
strong sell off in Treasury bonds. The total net outflow of long-term
U.S. securities and short-term funds such as bank transfers was $153.5 billion,
after an inflow of $33.1 billion the previous month. The net selling of Treasury
bonds and notes by private investors in June, were the largest on record.
China’s holdings of U.S. Treasuries declined by $2.5 billion to $1.27 trillion in
the month. Year-to-date China has been a net seller of Treasuries to the tune
of $7.2 billion. Japanese treasury holdings also dropped $600 million to
$1.22 trillion for the month.
As the world walks away from U.S. Treasury’s the RMB continues to get stronger as
the Bank of China intervenes less and less in the FX markets to push its currency
The RMB today hit 6.1408 on Tuesday and continues to climb. Where will it go from
here? Keep in mind the RMB was a very strong 2.8 to $1 USD back in the 1990′s.
We are heading back to those levels as China balances out its economy from competing
on cheap exports to building a consumption and service economy. It will take until
2020 to get there but it will get there and the RMB will replace the USD as the
world’s major reserve currency. The world’s reserve currency today is the Dollar,
but it is backed by the world’s largest debtor with uncontrollable government and
trade deficits. Trade flows and global production patterns have gone East…the
financial system is following.. and the world reserve currency will follow.
Want China Times
Japan is reportedly considering selling arms to members of the Association
of Southeast Asian Nations in response to China’s growing influence in
the region and aggressiveness in asserting maritime claims.
Tokyo has decided to hold a seminar late September to meet diplomatic and
defense officials from ASEAN member states, according to the Tokyo-based
Kyodo News. Japan will seek to understand their requirements needs for
defense technology and promote its own defense products, the report said.
Japan has asserted that the vast swath of water from the Indian Ocean to the
South China Sea and western Pacific should remain boundless and free and
should not be under Chinese suzerainty, according to the Tokyo-based Sankei
Shimbun. The assertion and Tokyo’s view that international law should govern
the high seas instead of coercive force won support from the member countries,
it said, also claiming that Japan-made hardware, especially ships and
aircraft, represent attractive investments to ASEAN member countries.
Many of these Southeast Asian nations need arms and some are involved in
conflicts with China, said Hu Wenlong with China Military Culture Research
Association, an organization in association with the People’s Liberation Army.
If Japan offered long-term loans and preferential condition to sell large amounts
of military hardware to countries which have territorial disputes with China,
they would be likely to take a tougher stance in territorial disputes and
increase the risk of conflict, Hu said.
According to the South Korean, “Chosun Ilbo” news outlet, North Korea has recently
published a new batch of 5,000 Won Currency notes with the portrait of the “Dear
Leader Kim Il Sung. The North Korean press stated that the new notes were not intended
to carry out currency reforms or deal with out of control inflation. Instead they were
issued in order to increase the prevalence of the Dear Leaders portraits into society.
I guess that is the Hermit Kingdoms version of Quantitative easing.
Industrial production in Italy is down to 1980 levels.
Its GDP has collapsed almost 10% back to the year 2000 level.
That won’t stop policy makers from fixing the GDP numbers.
Just add in drugs, prostitution, and arms trafficking.
The purge continues. Communist Oligarchs continue to battle it out
in the worlds largest nation. Billionaires and millionaires are
falling by the minute. If your on the wrong side of Premiere Xi Jinping
then your on the run. And unlike Russian oligarch criminals which can
easily be found and protected in London, Chinese Oligarchs get no free
pass and must run over to Thailand , Los Angeles, Canada, or Vietnam making
the chase more difficult.
Today, Xinhua has reported that an international manhunt is underway as
an Interpol arrest warrant has been issued for the arrest of Liao Rongna,
a Chinese businessman suspected of raising billions of yuan illegally and
who has fled the country. Liao, 58, is the chairman of Zhengling Group, a
private auto and machine manufacturer based in south China’s Guangxi
Zhuang Autonomous Region.
Liao was once listed among the wealthiest individuals in China by Hurun’s
Rich List and has been based in Liuzhou, one of my personal favourite places
to visit over the years. I have actually worked with some of Liao’s companies
in the past.
Not only is Liao caught up in the chaos, his son has been arrested and his
wife, a former vice chairman of Zhengling is on the run.
Police have found more than 1,500 loan contracts worth 3.2 billion yuan in
Zhengling files during their investigation. People who have invested in
Liao’s ponzi funds will lose everything.
In July, the government campaign Fox Hunt 2014 began to track down suspects
of economic crime who have fled the country. A high ranking Public Security Chief
was quoted as saying. “Even if they are in the farthest corners of the world, we
will find them, seize them and bring them to justice.”
China breaks a record in drone development with its Blue Arrow 7′s in
being able to keep the drones in flight for 30 hours surpassing the
U.S. Hellfire drone program. Australian defence experts are screaming
that the new U.S. F-35 strike fighter, a $1 trillion dollar program,
would be clubbed to death like a baby seal if it was in a dogfight with
current Russian or Chinese jets.
A Canadian defence analyst just reported that China’s new CSS-20 ballistic
missile could take out all US military facilities in the Western Pacific.
Are we seeing a pattern here?
But thats not all folks…
China now plans to build 10 aircraft carriers.
Want China Times
PLA Navy set to build 10 aircraft carriers
To create its first blue-water navy, China plans to construct a total of
10 domestic aircraft carriers according to the Kanwa Defense Review, a
Chinese-language military magazine operated by Andrei Chang also known
as Pinkov, a military analyst from Canada.
After Admiral Jonathan Greenert, the US chief of naval operations, visited
China’s first aircraft carrier, the Liaoning, a refitted Soviet-era carrier
purchased from Ukraine, the blueprint of the nation’s first domestic carrier
is nearly complete, according to Kanwa. Greenert said China is speeding up
the construction of its second aircraft carrier and even predicted the vessel
will enter service in the near future.
Richard Fisher, a military expert from US thinktank the International
Assessment and Strategy Center, said China may have between four and five
aircraft carriers in active service by 2030. This number may eventually increase
to 10 in the next few decades. Greenert said, however, that the gap between US
and Chinese aircraft carriers is still large. While a US carrier is capable of
launching and retrieving 100 aircraft simultaneously, a Chinese aircraft
carrier can only operate 10.
Before the PLA Navy is able to put its aircraft carriers into action, a great
deal of work has to be done, Greenert said, adding however that China has
achieved much in a very short period of time. Kanwa reported that China has
acquired blueprints for a Soviet-era nuclear-powered aircraft carrier, also
Quoting from the Singapore-based Straits Times, the article said that China’s
first domestically built aircraft carrier will be able to carry 50 J-15B carrier
-based fighters and other aircraft such as the K-8 or the Z-8 early warning
helicopters. In the future, between 25 and 27 stealth fighters such as the
J-20 or the J-31 may serve aboard the Chinese aircraft carriers to replace
the J-15, the PLA’s current carrier-based fighter.
China is on pace to take over the drone space has it develops lower cost
and technically more sophisticated drones.
Want China Times
China has broken a record in its drone development by successfully keeping
a civilian unmanned aerial vehicle aloft for 30 consecutive hours, reports
a Washington-based military website.
The UAV used for the test was designed by the state-run Chinese Academy of
Surveying & Mapping for mapping and land use surveys. The previous record
for a Chinese drone in the air was 16 hours. Designed with lightweight
materials and weighing under 50 kilograms, the drone is capable of carrying
lightweight and powerful cameras to economically survey agriculture and
In addition, the drones can also be used by the police and security services.
“For several decades a growing number of Chinese commercial firms have been
developing military UAVs. One of the most powerful of these is the Wing Loong
UAV which can be equipped to carry two BA-7 laser guided missiles,” said the
Strategy Page. Photos and videos of the Wing Loong were revealed by the
People’s Liberation Army in 2008.
The Strategy Page was able to conclude from promotional materials that the two
BA-7s, also known Blue Arrow 7 missiles, are very similar to the US-produced
Hellfire. Each of the missiles weighs 47 kilograms and has a max range of
7,000 meters. They were basically designed as laser-guided anti-tank missiles
to attack ground targets. China offers the Blue Arrow 7 at a lower (at least a
third lower) price than the $70,000 Hellfire and is willing to negotiate.
Lingerie decorated with gold has grabbed the attentions and spotlight in
various shows in China. Jewelry shops hired models wearing gold-decorated
lingerie sets for their opening ceremonies and promotional activities.
Source: Xinhua | August 10, 2014, Sunday
THREE Chinese disease control teams will travel to Guinea, Liberia
and Sierra Leone to help the fight against the deadly Ebola virus, the
National Health and Family Planning Commission said yesterday.
It is the first time that China has offered assistance to foreign nations
in response to a public health emergency.
The African countries are facing a severe shortage of drugs and disease
prevention knowledge, and are in urgent need of support, it said.
The experts will help to train local medical workers on personal protection,
disinfection and biological safety, it said.
Oh man…if things were not tense enough before in Xinjiang, get ready.
China unveils a new innovatiave plan to fight Islamic extremism..limit
their birth rate. Next stop….primae noctis.
Xinjiang Chief Signals New Curbs on Births for Minorities
China plans to adopt the same family planning policies for all ethnic groups
in Xinjiang, the western province’s Communist Party chief wrote in an essay,
signaling further curbs for the Uighur Muslim minority. Southern Xinjiang
will “implement family planning policy equally on all ethnic groups, to lower
and stabilize an appropriate birth rate,” Zhang Chunxian wrote in the August
edition of Qiushi, an official magazine of the party.
Zhang’s remarks may indicate a shift in rules that let Uighurs have as many
as three children in the countryside, while Han Chinese can have two. Even
though about 92 percent of China’s 1.3 billion population is Han, more than
45 percent of Xinjiang’s 22 million people are Uighurs, a Muslim people
from eastern and central Asia.
VIDEO: RBNZ’s Wheeler Signals Pause in Rate Rises
The essay was published as authorities tighten security amid ethnic violence
in the region that last week saw as many as 96 people killed. Unrest by
Uighur separatists has been on the rise in Xinjiang and beyond, prompting
President Xi Jinping to order a crackdown earlier this year.
China will use strong measures to fight terrorists and will strengthen
intelligence efforts, Public Security Minister Guo Shengkun said during a
visit to the region this month, the official Xinhua News Agency reported
today. New rules have also focused on the personal lives of residents, with
beards and Islamic veils not permitted on buses in Xinjiang’s Karamay city,
local media reported yesterday. Under current rules, Uighurs can have two
children in urban areas while Han Chinese are in general only allowed one.
Uighurs are supposed to be exempt from China’s one-child policy. Yet under
the policy, four Uighur women in Hotan prefecture in Xinjiang were forced
to undergo forced abortions, Radio Free Asia reported in December.
Increasing restrictions on ethnic minorities in Xinjiang come as China relaxes
its one-child policy across the country. The Standing Committee of the
National People’s Congress in late November approved rules that allow couples
to apply for permission to have a second child where either parent is an only