HANGZHOU – Two brothers and their father were sentenced to death on Monday for cheating 15,000 investors out of over $1.1 billion in east China’s Zhejiang province. Ji Wenhua, president of the Yintai Real Estate and Investment Group, was sentenced to death for the crime
Dan Collins CMR “Gold going to $7,000”, an article today in the Chinese media is going viral and one of the most viewed articles in the financial press. The article references American Jim Rickards and his concept of comparing inflation-adjusted gold prices. Most Chinese economists
Dan Collins CMR When I moved to China back in 1998 I was surprised to learn how highly the Chinese thought of America. Of course China was a much poorer place back then but coming from the Detroit area I couldn’t fathom where was all
It’s not uncommon for the large Wall Street banks to combine in shorting an entire years supply of minded silver in a single day.The same goes for all commodities. Endless paper printing getting funneled to Wall Street has destroyed all real price discovery. Capitalism fails
You have to laugh at the whole “China will collapse crowd” on CNBC and even respected sites like Zero Hedge. Personally, I love the Zerohedge stuff. They understand the ponzi-financial fraud-money printing-welfare state economy that now envelops the West. But China is a real economy,
Chanos is back! His short China thesis is very long in the tooth but as it goes with most ego maniacs he cannot accept failure or that fact that he might be wrong. Being wrong on an entire country where you have never visited and
Breaking News today that a Chinese vessel as rammed and sunk a Vietnamese fishing boat. All countries in the South China Sea and East China Sea are using fishing boats in a game of cat-and-mouse to challenge each other on their respective areas. This time
Stockswatch China has become a banking powerhouse. Four of the five largest banks in the world are Chinese, according to SNL Financial’s latest global bank rankings. It’s a big change from the past few years when only two Chinese banks made the top five. Beijing-based
Scared of losing the Chinese tourist dollar, France has relented to China and will allow Chinese police on the streets of Paris. More signs of the benefits of third-world immigration into the West to the point where cultural breakdown has occurred and law and order
D.Collins CMR China’s cloud computing market is expected to be worth 37.2 billion yuan (US$6 billion) in 2017 as demand for the service grows, the Chinese-language China Securities Journal reported on Friday. Some American tech companies are watching the largest and fastest I.T. market in
Gold has been flowing East for a decade. When the West wakes up to the fact that their gold is gone, they will no longer have sound money with which to back a currency. The world has only been off a gold standard since 1971
From the China Daily… BEIJING – China will lower banks’ reserve requirement ratio (RRR) by 0.5 percentage points starting May 18, the country’s central bank announced Saturday. The cut, the second of its kind this year, will drop the RRR for the country’s large financial
One year after the launch of direct trading between the renminbi and Japanese yen, the daily trading volume between the two currencies has reached 50-100 billion Japanese yen on the Shanghai market and 15 billion yen on the Tokyo market, a combined volume double that
Japan will learn the hard way that destroying your currency is not an viable economic strategy. Shanghai Daily JAPAN posted a record 1.63 trillion yen (US$17.4 billion) trade deficit in January as rising exports trailed surging imports of crude oil and gas due to rising
Is China tweaking its numbers on GDP? Probably. For twenty years Chinese GDP roughy came in right on the governments target. This would be an almost magical performance record considering economists in the West can predict absolutely nothing. For years, China most likely lowered GDP
China is now home to 4 of the 5 largest Bitcoin mining operations and
70% of the computational power globally.
The Communist Party has recently , however, banned domestic bitcoin exchanges
and in general banned conducting digital transactions between the local currency RMB.
Of course, that does nothing to stop crypto-currency holders from holding
crypto-currencies or exchanging them in U.S. dollars which can then be
transferred into RMB.
Chinese Bitcoin miners have dominated the space thanks to low electricity prices
and low cost engineering.They have also been adapt at modifying computing systems
with access to low cost gaming chips which are efficient for bitcoin mining and
Another key advantage has been the cost of electricity. The average cost in the U.S.
for 1Kwh hr of electricity is around 10 cents. In China, the cost can be less than
1 cent depending on the deal that has been worked out with the local power company.
Many of those deals not all above board.
There are dark skies on the Horizon, however, as Bitcoin miners are actively watching
government interference into the activity. Bitcoin miners have searching out new
locations to set up Bitcoin mining operations in places with access to low cost electricity
such as Russia.
Chinese science, in particular genomics, stem cell research, and other areas are
far ahead of what the world knows. Chinese scientists have not only caught up but
are pushing the envelope in field after field of scientific endeavor.
In addition, to genomic projects which attempt to isolate the genes of people with
IQ’s over 150 in an attempt to clone smart people, the scientific community in China
seems almost willingly to try anything.
As the global tech elite have been moving considerable resources into longevity and
anti-aging by hormones, blood doping, and slowing cellular transcription, a Chinese
scientist may have come up with the answer.
Fuck it…will just sew your head onto a new body.
For all of those worried about tech replacing jobs, don’t worry. Plenty of demand
for body donors in the future.
Tencent has became the first Chinese company to be valued at more than $500 billion.
Shares of the 19-year-old company, which is listed on the Hong Kong Stock Exchange, rallied to reach HK$418.80 to give it a market cap of HK$3.99 billion which takes past the $500 billion mark. Close rival Alibaba is Asia’s second-highest-valued firm at $474 billion.
Entry to the half-a-trillion-dollar club — which includes Apple, Alphabet, Facebook, Microsoft and Amazon — comes a week after Tencent posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion) for Q3 2017. Overall profit was up 69 percent year-on-year and revenue rose by 61 percent thanks to Tencent’s games business
As SCMP pointed out, a US$9,000 investment in the company’s 2004 IPO would now be worth US$1 million.
Just looking at the last twelve months alone, Tencent’s share price has doubled thanks to impressive earnings reports like Q3.
In case your still pushing that tired meme around how the only thing
China does is export goods the truth is they can consume also. And they
like to consume big. China is an import powerhouse, and will claim the
#2 spot globally for imports.
(U.S. will always be number #1 in the category as they no longer can
produce anything with 40% corporate tax rates and a drugged out
Singles day spending was only $9 billion in 2014. We are seeing massive
growth in China in the e-commerce area. Like so many new economic trends
such as EV vehicles the true power of e-commerce is showing itself in
Kyle Bass, famed Hedge fund investor is seeing his losses pile up in his
bets against China. His commentary on China looks increasingly unhinged
without facts or reason behind them.
After becoming famous for his subprime mortgage bets his fund went on to
massively underperform the markets averaging only 1.5% over the next 8 years.
He then was on the wrong side of predicting a crash in Japan and as now moved
onto China. His fund, has now become a small shadow of its former self as
investors look for returns elsewhere.
Like a modern day Captain Ahab, the white whale in the mind of Bass was
Japan and now its China. And we all know what happened to Captain Ahab.
The whale returns to Ahab, who stabs at him again. The line loops around
Ahab’s neck, and as the stricken whale swims away, the captain is drawn with
him out of sight.
From the mobile payments markets, high-speed rail,to Quantum communication.
China now has 71 unicorns valued at over $1b each.
The writing is on the wall if your smart enough to pay attention.
Zhou Xiaochuan said China’s gross domestic product would pick up from the
6.9 per cent figure recorded in the first six months of the year thanks to
a boost from household spending, according to a synopsis of his comments
at the G30 International Banking Seminar posted to the People’s Bank of
China website on Monday.
Mr Zhou’s comments come ahead of official third quarter GDP figures set to
be released on Thursday.
China Money Report
The World Bank, run from Washington D.C.,is not immune from becoming completely
out of touch. Staffed by academics who have spent entire careers inside Ivory
Towers they are currently pushing the U.S. administration for more funds to
expand World Bank Lending. The global media are castigating the Trump
administration for demanding changes at theWorld Bank.
Jim Yong Kim, the World Bank’s president, has been pushing for extra financial
resources and had hoped that shareholders would agree on at least a timetable
for the increase at this week’s annual meetings in Washington.
The problem…the World Bank’s largest borrower is China. Yes, China, the same
country that has 3 trillion in currency reserves. China is the biggest recipient
of development loans borrowing $2.4b annually.These are fund thats could be going
to small developing countries in Africa to alleviate poverty or how about areas
in the U.S. that now more closely resemble 2nd and 3rd word countries than they
do the lush, wealthy confines of the Washington D.C.area.
China has become the world’s largest creditor.The China Development Bank and
the Export-Import Bank of China (CHEXIM) together lent some US$684 billion
between 2007 and the end of 2014. The next six biggest lenders, which include
the World Bank, the Japan-led Asian Development Bank and the Inter-American
Development Bank,have provided finance worth US$700 billion. These are
2014 numbers, China is lending more than the World Bank and Asian Development
Bank combined and that is before we even start to take the Belt-n-Road projects
China also has the world’s largest bank system. Chinese bank assets hit $33tn
at the end of 2016, versus $31tn for the eurozone, $16tn for the US and $7tn
The World Bank has clearly become yet anther D.C. institution surviving solely
to keep themselves employed.
National Day holiday has come and gone and, now that the crowds and traffic have
dispersed, the China National Tourism Administration has released statistics
indicating this year’s October ‘Golden Week’ was a record-breaker, with
705 million trips made domestically.
This year’s trip numbers are up 12 percent from last year, according to GRT Radio,
and stand in stark contrast to the 428 million trips made during the National Day
holiday five years ago.
Normally a seven-day holiday, this year’s National Day holiday was extended to eight
days, as it overlapped with the Mid-Autumn Festival. The extra day has been credited
with allowing more people to vacation than in past years.
Other factors responsible for the tourism boom include the ‘free-of-charge policy’
that China implements on its vast highway system during public holidays (read: no tolls)
and the nation’s ever-expanding rail network, according to People.cn.
According to estimates by China Railway Corp, 40 percent of this year’s holiday trips
were made by train. Yesterday, October 8, an additional 920 trains were put into service
by railway authorities to cope with a projected 14 million passengers.
As one would expect, the record number of travelers last week meant big bucks for the
tourism sector, with vacationers estimated to have spent RMB583 billion.
The southern Chinese province of Guangdong received a total of 48 million visitors over
the holiday, an increase of 11 percent, according to GRT Radio. The province also added
RMB38 billion in tourism revenue to its coffers.
In Shanghai, 10.6 million visitors descended on the city, according to Shine, with those
who spent the night spending an average of RMB1,023 per day during their stay – up 2.4 percent.
It’s fake news but the picture is real. Its not uncommon to see groups of Chinese women
in the South Korean airport having just come out of plastic surgery.