China Economy Forum
- Thread starter EagleEyes
- Start date
Saifullah Sani
SENIOR MEMBER
- Joined
- Apr 15, 2011
- Messages
- 3,339
- Reaction score
- 2
- Country
- Location
Taking advantage of the slump in international gold prices, the People's Bank of China may have purchased large amounts of gold in a bid to diversify its reserves, thereby lowering its share of US government bonds, inside sources say, according to Shanghai's National Business Daily.
The People's Bank of China released data recently that showed the nation's official gold reserves stood at 1,054 tons as of the end of 2013.
Gold transactions at the Shanghai Gold Exchange has now hit 1,100 tons a quarter now and the monthly delivery volume of gold has risen to 212 tons from the respective amounts of 362 tons and 44 tons in January 2008, reported National Business News. The newspaper also added that the transaction volume has picked up rapidly since April 2013, when international gold prices began to plunge.
Alasdair Macleod, a columnist at goldmoney, an industry website, said gold demand in China doubled to 4,843 tons in 2013, which didn't include gold purchased by the Chinese government for deposit overseas.
In an article publicized on his blog, industry analyst Koos Jansen said that based on gold withdrawal at Shanghai Gold Exchange, China's gold reserves has been increasing at an annual clip of 1,761-1,746 tons in recent years, adding that the official amount of 1,054.1 tons for the nation's gold reserves is a gross understatement. Jansen believed that China has become a major buyer on the global gold market, with its gold reserves having surpassed that of Russia. Jansen also said that China has imported 8,000-9,000 tons of gold since 1995, which, should they be put under the custody of the People's Bank of China entirely, would have boosted the nation's official gold reserves to a level on a par with that of the US.
China's gold reserves may be greater than official figure｜Economy｜In-depth｜WantChinaTimes.com
The People's Bank of China released data recently that showed the nation's official gold reserves stood at 1,054 tons as of the end of 2013.
Gold transactions at the Shanghai Gold Exchange has now hit 1,100 tons a quarter now and the monthly delivery volume of gold has risen to 212 tons from the respective amounts of 362 tons and 44 tons in January 2008, reported National Business News. The newspaper also added that the transaction volume has picked up rapidly since April 2013, when international gold prices began to plunge.
Alasdair Macleod, a columnist at goldmoney, an industry website, said gold demand in China doubled to 4,843 tons in 2013, which didn't include gold purchased by the Chinese government for deposit overseas.
In an article publicized on his blog, industry analyst Koos Jansen said that based on gold withdrawal at Shanghai Gold Exchange, China's gold reserves has been increasing at an annual clip of 1,761-1,746 tons in recent years, adding that the official amount of 1,054.1 tons for the nation's gold reserves is a gross understatement. Jansen believed that China has become a major buyer on the global gold market, with its gold reserves having surpassed that of Russia. Jansen also said that China has imported 8,000-9,000 tons of gold since 1995, which, should they be put under the custody of the People's Bank of China entirely, would have boosted the nation's official gold reserves to a level on a par with that of the US.
China's gold reserves may be greater than official figure｜Economy｜In-depth｜WantChinaTimes.com
cirr
ELITE MEMBER
- Joined
- Jun 28, 2012
- Messages
- 17,049
- Reaction score
- 18
- Country
- Location
Alibaba eyes its own OS to run China smartphones 
Published: 4:02 AM, December 9, 2014
BEIJING — Alibaba Group Holding wants its mobile operating system to run millions of smartphones in China. The fastest solution: Spend some of its cash hoard on a handset maker.
Vice-chairman Joseph Tsai said last month that Alibaba’s homegrown system, YunOS, can knit services together for the company as Asia’s largest e-commerce giant steps beyond clothes and gadgets to entertainment and healthcare. With a market value of US$266 billion (S$351 billion), Alibaba has struggled to push YunOS in China, where more than nine out of 10 mobile devices use Google’s Android.
Alibaba could pursue a possible stake in Xiaomi, China’s largest smartphone seller. Or it could invest in Hong Kong-listed Coolpad Group to guarantee that YunOS is installed on the factory floor. Another option is to target one of the dozens of smaller, closely held manufacturers in China, said research firm Canalys.
“We expect Alibaba to take several attempts at the smartphone market over the next decade,” said Mr Neil Mawston, executive director in the global wireless practice at Strategy Analytics. Mr Bob Christie, a spokesman for Alibaba, declined to comment on whether the company is interested in Xiaomi or Coolpad.
Alibaba runs marketplaces including Taobao, which links individual buyers and sellers, and Tmall.com, which connects retailers and consumers. The company’s mobile operating system is key because China’s online shoppers are migrating from computers to phones and tablets. Alibaba wants YunOS to connect its ever-widening range of services.
Mr Tsai said Alibaba’s long-term goal is to have YunOS in tens of millions of smartphones. That aim dovetails with the government’s push for manufacturers to reduce dependence on Android and its promotion of national champions to rival Google and Apple.
“Local smart devices are heavily reliant on the Android camp,” China’s Ministry of Industry and Information Technology wrote in a report last February. “The development of self-made operating systems is significantly difficult.”
Some smaller manufactures have adopted YunOS. Shenzhen Sang Fei Consumer Communications makes phones running the operating system under the Philips brand and Meizu Technology adopted YunOS this year. Even so, Alibaba does not yet have a backer among the biggest handset vendors in China.
“We always take the long view — 10, 15 years,” Mr Tsai said. “What really matters is that in the long run, a lot of people will be using phones with our OS.”
Android has such a grip in China, the world’s largest smartphone market, that Alibaba needs to do more than just make another mobile operating system, said Ms Vanessa Zeng, an analyst at Forrester Research. A collaboration with Xiaomi is a possibility because Alibaba will struggle to win market share on its own, she said.
BLOOMBERG
Published: 4:02 AM, December 9, 2014
BEIJING — Alibaba Group Holding wants its mobile operating system to run millions of smartphones in China. The fastest solution: Spend some of its cash hoard on a handset maker.
Vice-chairman Joseph Tsai said last month that Alibaba’s homegrown system, YunOS, can knit services together for the company as Asia’s largest e-commerce giant steps beyond clothes and gadgets to entertainment and healthcare. With a market value of US$266 billion (S$351 billion), Alibaba has struggled to push YunOS in China, where more than nine out of 10 mobile devices use Google’s Android.
Alibaba could pursue a possible stake in Xiaomi, China’s largest smartphone seller. Or it could invest in Hong Kong-listed Coolpad Group to guarantee that YunOS is installed on the factory floor. Another option is to target one of the dozens of smaller, closely held manufacturers in China, said research firm Canalys.
“We expect Alibaba to take several attempts at the smartphone market over the next decade,” said Mr Neil Mawston, executive director in the global wireless practice at Strategy Analytics. Mr Bob Christie, a spokesman for Alibaba, declined to comment on whether the company is interested in Xiaomi or Coolpad.
Alibaba runs marketplaces including Taobao, which links individual buyers and sellers, and Tmall.com, which connects retailers and consumers. The company’s mobile operating system is key because China’s online shoppers are migrating from computers to phones and tablets. Alibaba wants YunOS to connect its ever-widening range of services.
Mr Tsai said Alibaba’s long-term goal is to have YunOS in tens of millions of smartphones. That aim dovetails with the government’s push for manufacturers to reduce dependence on Android and its promotion of national champions to rival Google and Apple.
“Local smart devices are heavily reliant on the Android camp,” China’s Ministry of Industry and Information Technology wrote in a report last February. “The development of self-made operating systems is significantly difficult.”
Some smaller manufactures have adopted YunOS. Shenzhen Sang Fei Consumer Communications makes phones running the operating system under the Philips brand and Meizu Technology adopted YunOS this year. Even so, Alibaba does not yet have a backer among the biggest handset vendors in China.
“We always take the long view — 10, 15 years,” Mr Tsai said. “What really matters is that in the long run, a lot of people will be using phones with our OS.”
Android has such a grip in China, the world’s largest smartphone market, that Alibaba needs to do more than just make another mobile operating system, said Ms Vanessa Zeng, an analyst at Forrester Research. A collaboration with Xiaomi is a possibility because Alibaba will struggle to win market share on its own, she said.
BLOOMBERG
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
Venezuela signs agreements with China to boost energy sector
The Venezuelan government signed agreements on Monday with Chinese companies to boost Venezuela's electric energy sector which has been severely affected since 2010 after more than 30 years without renovation.
At a televised ceremony attended by Venezuelan President Nicolas Maduro, energy officials and various companies signed accords to create joint ventures to produce LED bulbs and maintain public lighting.
"None of these agreements can stay solely on paper, we have the money, the place to start up the factory and the technology to have these bulbs and luminaries installed in the shortest time possible," said Maduro.
Among the Chinese companies that signed contracts was Zhejian Yankon Group whose representatives promised that with its technology, Venezuela would save around 10 percent of its electricity consumption.
"This agreement is one of many that will be done with China to consolidate our national economic development in 2015," Maduro said.
Maduro said the joint ventures will be set up in "special economic zones" which he has recently approved.
Since Chinese President Xi Jinping visited Caracas in July, China and Venezuela have signed various cooperation agreements of mutual benefit.
Last week, Venezuelan Vice President of Economy and Finance Rodolfo Marco Torres visited China to further promote bilateral cooperation.
The Venezuelan government signed agreements on Monday with Chinese companies to boost Venezuela's electric energy sector which has been severely affected since 2010 after more than 30 years without renovation.
At a televised ceremony attended by Venezuelan President Nicolas Maduro, energy officials and various companies signed accords to create joint ventures to produce LED bulbs and maintain public lighting.
"None of these agreements can stay solely on paper, we have the money, the place to start up the factory and the technology to have these bulbs and luminaries installed in the shortest time possible," said Maduro.
Among the Chinese companies that signed contracts was Zhejian Yankon Group whose representatives promised that with its technology, Venezuela would save around 10 percent of its electricity consumption.
"This agreement is one of many that will be done with China to consolidate our national economic development in 2015," Maduro said.
Maduro said the joint ventures will be set up in "special economic zones" which he has recently approved.
Since Chinese President Xi Jinping visited Caracas in July, China and Venezuela have signed various cooperation agreements of mutual benefit.
Last week, Venezuelan Vice President of Economy and Finance Rodolfo Marco Torres visited China to further promote bilateral cooperation.
Beidou2020
SENIOR MEMBER
- Joined
- Dec 3, 2013
- Messages
- 7,857
- Reaction score
- -48
- Country
- Location
Lawyers are the scum of the earth.
Beidou2020
SENIOR MEMBER
- Joined
- Dec 3, 2013
- Messages
- 7,857
- Reaction score
- -48
- Country
- Location
Destroy Android.
war is peace
FULL MEMBER
- Joined
- Oct 13, 2014
- Messages
- 139
- Reaction score
- 0
- Country
- Location
Impossicant!!!
war is peace
FULL MEMBER
- Joined
- Oct 13, 2014
- Messages
- 139
- Reaction score
- 0
- Country
- Location
Why beidou?
Isn't it too much even for an economy of China's size?
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
I am not sure what it too much or what is the right size. It is just happens to be so. If there is an anomaly, the market will probably correct itself. Not all business ventures end up successfully. In TW, my department once supervised/subsidized ten start-ups and, at the end of the year, three have failed. Probably, in two years time, only one or two will happen to be sustainable.
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
Bank of China to buy Manhattan tower for nearly $600 mln
2014-12-09
A Manhattan office building that Bank of China has made a deal to buy. (File photo)
(ECNS) – Bank of China (BOC) has made a deal to buy a Manhattan office building for nearly $600 million, finance.sina.com.cn reported Tuesday.
With a total area of 470,000 square feet on 28 floors, the glassed office block at the intersection of 40th Street and Sixth Avenue is to the south of the 1200-foot Bank of America tower.
The purchase of this block after its construction next year is the latest move of Chinese funds into the US real estate market.
BOC may move its headquarters into this office building, which would be an upgrade compared to its existing headquarters at No. 410, Madison Avenue.
The new building was constructed with joint capital from Houston developer Hines and J.P. Morgan Chase & Co.'s asset management arm.
2014-12-09
A Manhattan office building that Bank of China has made a deal to buy. (File photo)
(ECNS) – Bank of China (BOC) has made a deal to buy a Manhattan office building for nearly $600 million, finance.sina.com.cn reported Tuesday.
With a total area of 470,000 square feet on 28 floors, the glassed office block at the intersection of 40th Street and Sixth Avenue is to the south of the 1200-foot Bank of America tower.
The purchase of this block after its construction next year is the latest move of Chinese funds into the US real estate market.
BOC may move its headquarters into this office building, which would be an upgrade compared to its existing headquarters at No. 410, Madison Avenue.
The new building was constructed with joint capital from Houston developer Hines and J.P. Morgan Chase & Co.'s asset management arm.
rcrmj
SENIOR MEMBER
- Joined
- Jan 5, 2011
- Messages
- 6,322
- Reaction score
- -12
- Country
- Location
····lawyers are good, a country cant function without them, things need to be in order
Similar threads
