Xi visits winter sports venues to energize plans for Olympics

CHINA DAILY - Tue, 01/24/2017 - 04:48

President Xi Jinping talks to children skiing in Zhangjiakou, Hebei province, during a visit to check preparatory work for the 2022 Winter Olympics. Lan Hongguang /  Xinhua

President Xi Jinping urged organizers on Monday to host an extraordinary Winter Olympics in 2022 through rational planning and economic use of resources.

Xi made the remarks during his visit to Zhangjiakou, Hebei province, Beijing’s co-host city for the 2022 Games, to listen to a briefing on preparatory work and inspect proposed venue areas around Chongli county.

The president stressed that the organizing committee and involved departments should approach the preparation based on scientific planning in venue design, construction and resource allocation to host a green, open-minded and corruption-free Olympics in a shared manner.

“There should be clear positioning of this region for future development. Rather than developing into a large-scale comprehensive metropolitan area, Chongli should be built into a ski destination with a strong local character,” Xi said.

“The post-Olympics operation of the facilities should be considered beforehand, given that many Olympic host cities face challenges with venues left unused after the event,” he added.

Beijing, host of the 2008 Summer Olympics, and Zhangjiakou were picked in 2015 to host the 2022 Winter Olympics. Beijing will be the first city to hold both Summer and Winter Games.

During his visit to Genting Ski Resort in Chongli, the proposed venue for snowboarding and freestyle skiing in 2022, Xi received a warm ovation from regular skiers and athletes of China’s national freestyle skiing team, who are training at the resort.

Public participation in and the athletic level of winter sports in China remain relatively low, but the 2022 Games will provide the perfect opportunity to boost the sector within five years, Xi said.

Xi also visited the resort’s equipment rental area before going outdoors to check venue layouts around the resort.

China is rolling out a national plan inspired by Xi to encourage 300 million people to participate in winter sports and related activities by 2022. Governmental support for developing winter sports has earned positive comments from Thomas Bach, president of the International Olympic Committee. Bach said that after meeting Xi in Lausanne, Switzerland, on Jan 18, he feels certain China will be a success in hosting the Games.

“It’s obvious that the central government has high expectations in promoting winter sports ... as a new driver for economic growth, while encouraging the public to participate more in sports in general for a healthier nation,” said Lin Xianpeng, a sports industry researcher from Beijing Sport University.

Categories: INTEL 3

Senate committee approves Rex Tillerson for Secretary of State, must still pass full Senate

CNBC - 39 min 54 sec ago
In order to be confirmed in the role, Tillerson must be approved in the wider GOP-controlled Senate.

President Trump designates Ajit Pai as next FCC chairman

CNBC - 58 min 54 sec ago
Pai said in a statement he is "deeply grateful" for the "humbling honor."

Market pausing now, but more all-time highs ahead, expert predicts

CNBC - 1 hour 4 min ago
Oresident Donald Trump's tax cuts and deregulation should push corporate profits and stocks higher, Ken Moraif said.

White House says it will have Supreme Court nominee in next couple of weeks

CNBC - 1 hour 22 min ago
Trump will soon announce a Supreme court nominee.

Trump declares National Day of Patriotic Devotion...but you already missed it

CNBC - 1 hour 28 min ago
Trump's National Day of Patriotic Devotion shouldn't be confused with previous presidential proclamations with similar names.

Shake Shack is giving away burgers if you download its app

CNBC - 1 hour 34 min ago
Shake Shack is offering a free burger to anyone who downloads its new app by Feb. 28.

Breakingviews: Foxconn’s $7 billion U.S. bet goes beyond politics

CNBC - 1 hour 41 min ago
Building a huge American factory would fit neatly with President Trump's push to create domestic jobs.

WH spokesman Spicer decries about 'demoralizing' negative media narrative of President Trump

CNBC - 1 hour 52 min ago
Spicer has faced criticism after claiming reporters misrepresented crowd size at Trump's swearing in.

Yahoo to report earnings after the bell

CNBC - 2 hours 4 min ago
Earnings could be one of Yahoo's last major reports as an independent company.

The so-called Trump rally hasn't been an actual rally since mid-December

CNBC - 2 hours 10 min ago
The S&P 500 has now moved sideways for a longer period than the actual post-election rally.

One thing great leaders never do

CNBC - 2 hours 17 min ago
Six tips for effectively managing people who know more than you.

Trump reinstates 'global gag rule,' which limits abortions abroad

CNBC - 2 hours 21 min ago
The policy, also known as the 'global gag rule' and 'Mexico City policy,' has long been a political football, NBC News reports.

A rocket scientist who helped explore Mars explains how ignorance can help

CNBC - 2 hours 24 min ago
NASA engineer Adam Steltzner shares his counter-intuitive but successful approach to challenges.

Mexico's Jose Cuervo planning February IPO

CNBC - 2 hours 27 min ago
Jose Cuervo, the world's biggest tequila producer, is planning a Feb. 8 pricing for its long-delayed IPO.

A third of Californians dreaming of a country without Trump, polls says

CNBC - 2 hours 31 min ago
One in every three California residents supports the most populous U.S.state's peaceful withdrawal from the union, according to a new Reuters/Ipsos opinion poll.

These stocks have more than doubled in two years — and I’m betting on more gains to come: Trader

CNBC - 2 hours 37 min ago
Netflix and Nvidia continue their rally, and one trader is betting on them to rise even higher.

US to prevent China from taking over territory in international waters

SOUTH CHINA MORNING POST - 2 hours 39 min ago
The new US administration of President Donald Trump vowed on Monday that the United States would prevent China from taking over territory in international waters in the South China Sea. “I think the US is going to make sure that we protect our interests there,” White House spokesman Sean Spicer told a news briefing. “It’s a question of if those islands are in fact in international waters and not part of China proper, then yeah, we’re going to make sure that we...
Categories: INTEL 3

Investors worried about President Trump should buy these stocks, Goldman Sachs says

CNBC - 2 hours 54 min ago
Goldman recommends stocks "capable of growing sales rapidly, independent of economic and policy uncertainty" from Trump's agenda.

White House spokesman Sean Spicer: 'Our intention is never to lie to you.'

CNBC - 3 hours 13 min ago
Spicer was asked about whether he intended to always tell the truth.

Trump administration shouldn't be arguing over inaugural crowd size, Ari Fleischer says

CNBC - 3 hours 15 min ago
The White House press secretary was following orders when he argued about the inaugural crowd size, Ari Fleischer said.

Why Trump’s business conflicts can’t—and won’t—just be swept aside

CNBC - 3 hours 21 min ago
In his latest podcast, Chris Riback digs into why Trump's statement that "I have a no-conflict situation, because I'm president" is just wrong.

By this market measure, Trump's transition 'was the smoothest ever'

CNBC - 3 hours 26 min ago
For Wall Street, the period between Trump's election victory and his inauguration have been a picture of serenity.

Santoli: Wall Street may not love Trump's focus on the manufacturing economy

CNBC - 3 hours 36 min ago
Here's what CNBC's Michael Santoli is watching into the closing bell.

I'm going to 'make Justin Trudeau's life absolute hell,' Kevin O'Leary of 'Shark Tank' says

CNBC - 3 hours 43 min ago
Running for conservative leadership in Canada will provide a platform to knock its current government, Kevin O'Leary says.

After asking over 100 people about their mornings, Tim Ferriss adopted this 5-step routine

CNBC - 3 hours 48 min ago
He tested various AM rituals, and this is what works.

Former President George H.W. Bush ready to leave intensive care, wife Barbara goes home

CNBC - 3 hours 58 min ago
Former President George H.W. Bush is still suffering from pneumonia, but is well enough to leave the intensive care unit at a Houston hospital.

Mexico president says he'll seek to preserve tariff-free NAFTA trade

CNBC - 3 hours 59 min ago
Mexico will also immediately seek bilateral deals with countries that formed part of the Trans-Pacific Partnership free trade deal, Pena Nieto said.

Disappointed Hatchimal owner files lawsuit against Spin Master

CNBC - 4 hours 2 min ago
Hatchimal just didn't hatch, a mother says in a lawsuit again Spin Master over the toy.

Journalists should stop interviewing Kellyanne Conway: Professor

CNBC - 4 hours 12 min ago
Kellyanne Conway, the "spin-master of Trump's muddy words," offers no real value, says professor Jay Rosen.

Supermarket chain Kroger to fill 10,000 permanent positions

CNBC - 4 hours 14 min ago
Supermarket operator Kroger said it would fill 10,000 positions this year, joining a list of companies that have publicized routine hiring plans.

S&P 500 slips, set for worst day of the year—the post-election ‘honeymoon is over’

CNBC - 4 hours 16 min ago
Stocks are staging a decline on Monday, as Trump's brash words and anti-free-trade moves appear to spook investors.

Spring Festival fund helps poor and disabled

CHINA DAILY - 4 hours 20 min ago

The Ministry of Civil Affairs has responded to Premier Li Keqiang's call to help people in hardship this Spring Festival, allocating 5.7 billion yuan for food and shelter for more than 50 million Chinese.

The ministry estimated that 52 million people would depend on the food subsidy and 17 million needed extra clothes to stay warm this winter.

Civil affairs vice minister Gong Puguang told a press briefing on Monday that 80 percent of the funds have gone directly into the pockets of people in need and promised others would soon receive their share.

As many as 24 provinces, including Hubei, Sichuan and Guizhou, have given out 790 million yuan to the poor, while provinces like Hebei, Anhui and Hunan have spent 235 million yuan buying cotton quilts and coats for residents.

To make sure the fund is being spent in the right place, the ministry has sent senior officials to join the central government's inspection team to provinces like Hebei, Fujian and Hubei. Gong said the results so far seemed positive.

As of November, 45.6 million rural residents in China were living on the government's minimum allowance.

They benefited from 88.5 billion yuan between January and November, 10 percent more than the previous year, according to Gong.

China has the largest number of people with disabilities with almost 32 million officially registered as of December. In many rural areas, having a disability condemns them to a life of poverty. Their wellbeing has long concerned China's top decision makers, especially given the ongoing nationwide effort to lift everybody out of poverty by 2020. State Councilor Wang Yong said last year that helping people with disabilities out of poverty will essentially solve the nation's poverty challenge.

Yu Jianliang, the ministry's director of social welfare and promotion of charities, said the ministry has worked with the China Disabled Persons' Federation to make sure every eligible person gets the stipend they deserve under a new act promoted last year.

By the end of November, 8.4 million people with disabilities received their allowances, and 8.7 million with severe disabilities received extra financial support. Yu said the effort will continue, especially in less developed areas.

Categories: INTEL 3

Teacher opens home to Tibetan students

CHINA DAILY - 4 hours 23 min ago


Since 1978, Wuhan University teacher Yang Changlin, has invited Tibetan students who could not return home for Spring Festival, to his home for dinner every year.

"At the beginning, we had the reunion dinner at my home. Later, as more and more students came to my home, we moved the dinner to a restaurant," Yang said.

Yang, who graduated from Wuhan Institute of Physical Education in 1965, voluntarily applied to work in Tibet. In Ngari Prefecture, he met his Tibetan wife Tsering Dekyi.

In 1976, Yang had a high altitude heart attack and he had to go back to Wuhan to work.

After his return to Wuhan, Yang’s house became the home of Tibetan students studying in the city. In addition to the Spring Festival reunion dinner,

Yang also organized football matches and traditional dancing events for the Tibetan students every year.

Over the years, he has taught and helped more than 10,000 Tibetan students in Wuhan.

Yang Changlin and Tibetan students have reunion dinner at Wuhan University. [Photo/Zhou Lihua]


Categories: INTEL 3

Trump says suit claiming constitutional violations is 'without merit'

CNBC - 4 hours 31 min ago
An ethics watchdog group Monday sued President Donald Trump, claiming that his business holdings put him in violation of the Constitution.

Op-Ed: Trump’s strategy to bash corporations on Twitter suddenly makes sense

CNBC - 4 hours 40 min ago
President Trump knows all the tricks of Corporate America—and that will help him avoid the pitfalls that Bush, Reagan and other Republicans before him faced, says Jake Novak.

SpaceX won’t attempt a landing after its next launch

CNBC - 4 hours 41 min ago
It’s a heavy satellite going to a high orbit, so there won’t be much propellant leftover, The Verge reports.

Watch live: White House spokesman Sean Spicer's first official press conference

CNBC - 4 hours 51 min ago
Spicer's appearance is first after blasting reporters for what he said were false reports over inauguration crowd size.

Bill Gates could become the world's first trillionaire

CNBC - 5 hours 26 min ago
Here's what it would take for one of the richest men alive to cross the next great divide.

Trump says lawsuit charging he violated Constitution is 'without merit'

CNBC - 5 hours 27 min ago
His remarks coincided with a letter by Democratic lawmakers asking about Trump's hotel lease for the Old Post Office building.

Big turnout at Women's Marches could be misleading for Democrats, Nate Silver says

CNBC - 5 hours 31 min ago
The marches drew more than 3 million people in cities and towns around the country.

How Apple's lawsuit threatens Qualcomm's business model

CNBC - 5 hours 38 min ago
Qualcomm has been loved by investors because of its high-margin licensing business, but lawsuits are raising red flags.

Hedge fund assets top $3 trillion for the first time after boost from the Trump post-election rally

CNBC - 5 hours 42 min ago
Hedge fund assets increased by $46.8 billion to $3.02 trillion in the fourth quarter, according to HFR.

Ex-Bush 43 economist: Here are 4 things the US already has going for it

CNBC - 5 hours 47 min ago
Industry, mobility, taxes and immigration are four things the United States should be proud of, former Bush 43 economist Ed Lazear says.

Leaked merger deals are surging in the US: Here's why it matters

CNBC - 5 hours 50 min ago
Deals that leak tend to generate higher premiums than their counterparts, and leaks also tend to encourage more bids.

Trump signs order withdrawing US from Trans-Pacific trade deal

CNBC - 5 hours 54 min ago
Trump also signed an order imposing a federal hiring freeze and a directive banning U.S. NGOs receive federal funding from providing abortions abroad.

Op-Ed: If Trump wants to accomplish anything as president, here's what he needs to know

CNBC - 5 hours 57 min ago
Trump may be a dealmaker but in order to get anything done in Washington, he needs to understand these three things, says former US regulator Bart Chilton.

China: We can lead world beyond 'crisis' of Western democracy and capitalism

CNBC - 6 hours 20 min ago
Beijing-run newspaper People's Daily says the world can see the upside of "socialism with Chinese characteristics."

Jobs Trump brings back will pay better and be high skilled, US manufacturing chief says

CNBC - 6 hours 21 min ago
Repatriated manufacturing jobs will have major benefits for U.S. workers, Scott Paul says.

Wall St.'s elation turns to concern after Trump's first bizarre weekend

CNBC - 6 hours 22 min ago
Wall St. says enthusiasm for Trump has stalled because of the president's mercurial approach, Politico's Ben White says.

Taiwan's jobless rate rises in 2016

CHINA DAILY - 6 hours 26 min ago

TAIPEI -- Taiwan's average unemployment rate in 2016 stood at 3.92 percent, up 0.14 percentage points from 2015, the island's statistics authority revealed Monday.

On average, 460,000 people were out of work in 2016, increasing 20,000 from the previous year, with about 70,000 unemployed for a long period of time, the authority said. The total workforce in Taiwan reached 11.72 million last year.

The highest unemployment rate was observed among those who had a junior college education or higher at 4.23 percent in 2016. In terms of age, the unemployment rate among young people ages 15 to 24 reached as high as 12.12 percent, it said.

In December, the unemployment rate was 3.79 percent, both down 0.08 percentage points compared with November and the same period in 2015.

Categories: INTEL 3

Olive Garden's next phase in 'never ending' features lasagna and more

CNBC - 6 hours 26 min ago
Never Ending Classics included in the promotion will sell for $11.99 and feature five dishes.

China's hi-res SAR imaging satellite put into use

CHINA DAILY - 6 hours 27 min ago

BEIJING -- China's first high-resolution Synthetic Aperture Radar (SAR) satellite has passed all its in-orbit tests and is now operational, according to the State Administration of Science, Technology and Industry for National Defense on Monday.

The Gaofen-3 satellite, which is accurate to one meter in distance, was launched in August 2016.

Tong Xudong, a senior engineer with the administration, said the satellite covers the globe with an all-weather, 24-hour observation service and will be used for disaster prevention and reduction, ocean monitoring, and the protection of maritime rights.

Gaofen-3 is China's first low orbit remote sensing satellite to have a long lifespan.

With 12 imaging modes, Gaofen-3 has the most imaging modes in the SAR imaging satellite family. The high-definition observation satellite is capable of switching freely between various imaging modes, taking wide pictures of both earth and bodies of water, and detailed photographs of specific areas.

Gaofen-3's spatial resolution ranges from one meter to 500 meters and its largest viewing swath is 650 kilometers.

According to the administration, Gaofen-5 hyerspectrual satellite is planned to be launched in September 2017.

Categories: INTEL 3

The next Star Wars film now has an official title

CNBC - 6 hours 30 min ago
"Star Wars: The Last Jedi" will hit theater Dec. 15, 2017.

Passengers keep train attendant's painting dream alive

CHINA DAILY - 6 hours 32 min ago

Art-loving train attendant Li Wei draws a portrait for a passenger onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Lucky passengers departing from Chongqing may get more than they expected on their journey as they make their way home for Spring Festival.

Art-loving train attendant Li Wei has given away over 1,800 portraits of passengers in the past 12 years to record their special journey.

"Hey, sister, can I draw a portrait for you?" Li asked a passenger holding a baby in her arms during a trip from Chongqing to Beijing last week.

The mother was a little surprised, but agreed. After a while, Li handed her a pencil sketch of the mother and her baby as a gift.

Li, 35, started working as a train attendant in 2003, but has always dreamed of becoming a painter.

During a trip from Chongqing to Guangzhou, he noticed several passengers drawing pictures in the carriage and found out later they were students from the art school. Li became friends with those students and decided to chase his childhood dream.

Though he failed the entrance exam for the local art school in 2004, he started to draw pictures during his spare time on the train.

"It is a good way to practice my painting skills and also makes the trip a little bit interesting," Li said.

"I am recording the real life of people with my pencils and brushes."

In addition to pencil sketches, he also does oil paintings and watercolor paintings for passengers.

In 2009, he bought a camera to help record the train journeys.

Train attendant Li Wei poses for a photo with his drawings onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei gives his drawing as a gift to a girl onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei draws a portrait onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei shares his drawings with his colleagues onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Train attendant Li Wei takes a picture for passengers onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei works onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei is seen onboard a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Train attendant Li Wei helps a boy get on a train from Chongqing to Beijing, Jan 18, 2017. [Photo/Xinhua]

Li Wei is seen at a railway station in Chongqing, Jan 18, 2017. [Photo/Xinhua]

Categories: INTEL 3

Traders betting these 5 stocks will beat Wall Street's earnings expectations this week

CNBC - 6 hours 36 min ago
CNBC PRO used crowdsourced earnings platform Estimize to find the stocks with the best chance at beating the Street.

Hubei rolls out rule to protect Yangtze

CHINA DAILY - 6 hours 45 min ago

WUHAN -- Legislators in Central China's Hubei province passed a rule to better protect the Yangtze, the country's longest river facing environmental challenges.

Construction of new petrochemical and coal chemical plants will be limited along the main stream of the Yangtze, while no new projects that would discharge pollutants into the river should be allowed, according to the rule, which was approved on Saturday by the provincial people's congress, the local legislature, at its annual meeting.

In addition, it underscored that enterprises that fail to meet pollution emissions standards must be "shut down resolutely."

The rule also said that boundaries should be set for exploitation of the Yangtze's water, water usage efficiency and pollution emissions into the river.

Local officials' environmental track record will be linked to their performance assessments, according to Zhou Shuihua, chief engineer of the provincial environmental protection department.

Hubei has the longest section of the Yangtze, with 1,061 kilometers of the river frontage.

A national plan to boost the development of the Yangtze River Economic Belt, published in September 2016, named environmental protection and restoration as paramount tasks.

Categories: INTEL 3

Intel to rally 16% this year as earnings beat expectations, Pacific Crest says

CNBC - 6 hours 45 min ago
Pacific Crest's estimate for Intel earnings per share is 78 cents versus the 74 cents consensus.

Young homebuyers get no help from one of Trump's swift, first moves

CNBC - 6 hours 47 min ago
By reversing an Obama order on mortgages, the Trump administration may have discouraged homebuyers, say officials.

This former defense secretary is terrified of nuclear catastrophe

CNBC - 6 hours 50 min ago
William Perry, the 19th secretary of defense for the United States, says today we have three clear paths towards nuclear destruction.

Here are the best and worst states for retirement

CNBC - 6 hours 51 min ago
Most people are focused on when they will retire. A better question may be where.

Banks post fall in bad loans and NPL ratio

SHANGHAI DAILY - 6 hours 52 min ago
BANKS in Shanghai saw outstanding bad loans and non-performing loan ratio drop last year as lenders curtailed their loans to certain sectors such as property to control financial risks, the local banking regulator said yesterday. The NPL ratio of lenders in Shanghai shed 0.23 percentage points from the beginning of last year to 0.68 percent at the end of December, when outstanding bad loans shrank 7.6 billion yuan (US$1.1 billion) to 40.4 billion yuan, the Shanghai Office of China Banking Regulatory Commission said in a report. The improved loan quality was mainly due to “prevention of risks and strengthening of services,” the report said. As Shanghai raised down payments for first-time buyers and tightened their eligibility for mortgages in November, banks in the city conducted a so-called “diversified credit policy” on mortgage applicants and squeezed credit in the property sector. “The policy should be strictly carried out to curb speculative house buying frenzy to avoid risks,” the regulator emphasized. Shanghai lenders grew their total assets by 11.3 percent to 14.42 trillion yuan last year, according to the report.

Microsoft and startups share tech

SHANGHAI DAILY - 6 hours 52 min ago
MICROSOFT Corp has opened its first accelerator base in Shanghai, the software giant said yesterday. The company will use the accelerator base in Xuhui District, which will serve the first batch of 14 startups, to share advanced technologies, resources and experiences, and to help Shanghai develop into an international innovation and entrepreneurship platform, Microsoft said. Programs the base runs focus on technologies like cloud computing, Big data, artificial intelligence and the Internet of Things, which bring new challenges and opportunities to every industry, said Hsiao-Wuen Hon, corporate vice president of Microsoft and chairman of Microsoft’s Asia-Pacific R&D Group.

Shanghai consumers lose nerve in Q4

SHANGHAI DAILY - 6 hours 52 min ago
SHANGHAI consumers lost confidence in the fourth quarter amid global political worries and a yuan depreciation, a survey showed yesterday. The Index of Consumer Confidence in Shanghai, a quarterly gauge compiled by Shanghai University of Finance and Economics, fell 4.3 points from the third quarter to 111.9 in the October-December quarter. A reading above 100 points indicates optimism. Global political changes, delayed impact of an economic recovery, continued yuan depreciation and a weak stock market combined to hurt consumer confidence, said Xu Guoxiang, director of the university’s Applied Statistics Research Center. “Changeable international political and economic conditions in the last quarter aroused a sense of crisis among consumers, hurting consumer confidence to some extent,” Xu said. “The city’s economic indicators actually picked up, but it takes time to have an impact on the economy and consumers.” The component indexes showed people’s intention to buy homes and cars rose by 9.5 points and 4.8 points respectively from the previous quarter, while their intention to buy durable goods fell 12.4 points. The city’s retail sales rose 8 percent to 1.09 trillion yuan (US$159 billion) last year, with online sales surging 15.8 percent to 125 billion yuan, Shanghai Statistics Bureau said last Friday. Another index measuring the city’s consumer satisfaction dipped to 71.83 points in 2016 from the record high of 72.03 points in 2015. The city’s GDP rose 6.8 percent last year, faster than the annual growth of China’s GDP for the first time since 2008.

China’s job market stable in 2016

SHANGHAI DAILY - 6 hours 52 min ago
DESPITE a continued economic slowdown, China’s job market remained stable last year with the urban unemployment rate well under control, a human resources official said yesterday. The registered unemployment rate in Chinese cities stood at 4.02 percent at the end of 2016, down from 4.04 percent three months earlier, data from the Ministry of Human Resources and Social Security showed. The figure was below the government’s target of 4.5 percent set in the start of last year. China created 13.14 million new jobs for urban residents last year, exceeding the whole-year target of 10 million. “China’s employment generally held steady,” ministry spokesperson Lu Aihong said at a press conference. The government rolled out an array of pro-employment policies for college graduates, laid-off workers from glutted industries and migrant workers, while the country’s entrepreneurial wave has also helped job creation, Lu said, adding that China’s social security system has improved and benefited more people. China’s economy grew 6.7 percent year on year in 2016, down from the 6.9 percent rise seen in 2015 and marking the weakest annual growth in 26 years, which, along with the ongoing industrial restructuring, added to concerns over job losses this year. “The fundamentals for stable employment have not changed,” Lu said, citing favorable factors including China’s steady growth, advanced reform measures, urbanization, and strengthening innovation capacity. But he admitted that a huge workforce, a supply-demand gap for skilled workers and laid-off workers will continue to put pressure on the job market. To face the challenges, China will strive to ensure re-employment of workers made redundant during the country’s excess capacity cuts, help college graduates seek jobs, improve professional skill training, and support people to set up their own businesses.

Mobike ties up with Foxconn on bike output

SHANGHAI DAILY - 6 hours 52 min ago
SHANGHAI-BASED Mobike has joined hands with Foxconn to double the number of bikes it plans to make this year to 10 million, adding that the Taiwan-based manufacturing giant has also taken a stake in the bike-sharing startup. Mobike, which is backed by Tencent and Warburg Pincus LLC, said that this year it will manufacture 5.6 million with Foxconn and the rest at its own plants with unspecified partners — a huge jump over 2016 when it made more than 400,000. Terms of the deal with Foxconn, known formally as Hon Hai Precision Industry Co, were not disclosed. Mobike, seen as one of the most aggressive Chinese firms that allows users to find and rent bicycles through a smartphone app, said it is hoping the move will help it expand faster by lowering the unit cost of each bicycle. The startup raised at least US$315 million in two funding rounds since October and says it is open to further investment. It has not disclosed valuations. Founded in 2015, Mobike now operates in 13 cities across China and has forged investor relationships with Huazhou Hotels Group and Chinese online travel site International in a bid to reach travelers. It also has international ambitions and has opened an office in Singapore. The deal with Foxconn will see Mobike bicycles made in both new and existing Foxconn plants. Manufacturing bikes in the United States and Europe was also possible, Chief Executive Davis Wang said. “Right now we are working with Foxconn to evaluate the possibilities,” he said, adding that the company plans to meet demand in different markets with local manufacturing. Foxconn, which is one of China’s biggest employers and makes Apple’s iPhones among other products, said on Sunday that it may set up a display-making plant in the US in an investment that would exceed US$7 billion.

Spending outpaces revenue

SHANGHAI DAILY - 6 hours 52 min ago
CHINA’S fiscal revenue grew slower last year due to tax cut measures and downward pressure on the economy while growth in fiscal spending continued to outpace revenue, data from the Ministry of Finance showed yesterday. Fiscal revenue rose 4.5 percent year on year to 15.96 trillion yuan (US$2.3 trillion) in 2016, the ministry said. The growth, however, was nearly half of the 8.4 percent annual increase in 2015. The slower growth was in line with the ministry’s expectation as it said in October that China would face a grim situation over fiscal revenue increases in the last quarter of the year, due to continued pressure on the economy. The ministry attributed the slower revenue growth to tax cuts, impact from the economic slowdown and a high base in 2015. China’s shift from a business tax system to value-added tax resulted in a cut of 500 billion yuan in tax income last year as the reform was expanded in May to cover all industries, the State Administration of Taxation estimated in December. China’s fiscal spending grew 6.4 percent year on year to 18.78 trillion yuan last year.

Pay a fee to trade Bitcoin from today

SHANGHAI DAILY - 6 hours 52 min ago
CHINA’S three largest Bitcoin exchanges said they will charge trading fees effective today. BTCC, Huobi and OkCoin said in separate statements that they will charge traders a flat fee of 0.2 percent per transaction. Each of the statements said assessing fees will “further curb market manipulation and extreme volatility.” The absence of trading fees has encouraged volumes and boosted demand at Chinese Bitcoin exchanges. The Bitcoin price soared to near-record highs in the first week of this year, drawing attention from Chinese regulators. During 2016, the yuan fell 6.6 percent against the US dollar, its worst performance since 1994. On January 11, the People’s Bank of China launched spot checks on BTCC, Huobi and OkCoin to look at a range of possible rule violations.

Notable rebound in sales of new homes

SHANGHAI DAILY - 6 hours 52 min ago
SALES in Shanghai’s new home market rebounded notably last week ahead of the national weeklong Spring Festival holiday that starts on Friday. The area of new homes sold, excluding government-subsidized affordable housing, jumped 44.1 percent to 141,000 square meters during the seven-day period ended on Sunday, Shanghai Centaline Property Consultants Co said in a report yesterday. The new houses sold for an average 50,128 yuan (US$7,317) per square meter, a week-on-week gain of 6.4 percent. “The recovery was quite significant with improved momentum among both real estate developers and home buyers,” said Lu Wenxi, senior manager of research at Centaline. “Notably, three best-selling projects sold more than 100 units each while units in three medium to high-end projects in the top-10 list were sold at 60,000 yuan per square meter and above.” A housing project in the city’s outlying Baoshan District sold 203 units last week for nearly 61,000 yuan per square meter on average, followed by a development in Xuhui District where 109 apartments were sold for an average 81,333 yuan per square meter, Centaline data showed. Around 255,000 square meters of new homes in eight projects were released locally last week, the highest seven-day volume since October.

Star fund manager sent to jail for fixing

SHANGHAI DAILY - 6 hours 52 min ago
A former star fund manager has been sentenced to more than five years in prison for market manipulation, a court statement said yesterday. Xu Xiang, the founder and general manager of Shanghai-based Zexi Investment, was given a prison term of five years and six months, the Qingdao Intermediate People’s Court said on its official microblog account. Co-defendant Wang Wei was sentenced to three years in jail, and Zhu Yong received a two-year term with a three-year suspension. The trio were also fined but the court didn’t specify the amount. Between 2010 and 2015, Xu colluded with executives of 13 listed companies and fabricated non-public information either alone or together with Wang and Zhu to enrich themselves with huge profits, the court said in the statement. It said the executives’ cases were being handled separately. “The illegal activities sabotaged the normal order on securities trading, and posed bad influence and damage on the management system of securities transactions,” the statement said. Xu, who was reported to have a personal wealth of over 4 billion yuan (US$584 million), was detained by police in November 2015, five months after China’s stock market crashed in the summer. As the Shanghai Composite Index plunged 35 percent in three weeks during that period, five of Zexi’s fund products posted at least 20 percent growth in net asset value, listed firms’ quarterly reports and earlier reports of Caixin magazine said.

Nonferrous metals push shares higher

SHANGHAI DAILY - 6 hours 52 min ago
SHANGHAI shares rose to a two-week high yesterday, helped by a rebound in the nonferrous metal sector. The Shanghai Composite Index added 0.44 percent to end at 3,136.77 points. The China Nonferrous Metal Industry Association said in a report that the country’s nonferrous metal industry posted a better-than-expected rebound last year, “bolstered by a rally in demand” and reflected in infrastructure and transport industries. Sichuan Western Resources Holding Co jumped by the daily limit of 10 percent to 10.40 yuan (US$1.52), and Jiangxi Copper Co gained 5.7 percent to 18.25 yuan. The defense sector rose 1.3 percent, buoyed by news that President Xi Jinping will head a new commission for joint military and civilian development.

Samsung cites batteries for causing Note 7 fires

SHANGHAI DAILY - 6 hours 52 min ago
SAMSUNG Electronics said flaws in the design and production of batteries used in its Galaxy Note 7 smartphone, not its hardware or software, made it prone to catch fire. Samsung said yesterday that it was responsible for not ensuring the design specifications given to its suppliers were failsafe but believed its investigation into the problem would help the entire industry counter overheating risks with lithium batteries. Analysts questioned if the world’s largest smartphone maker had really gotten to the bottom of the problem. The South Korean company delayed the launch of its next Galaxy phone — the Galaxy S8, which usually would come in February. It also unveiled tighter quality controls and more rigorous testing to ensure safety. During a two-hour press conference live-streamed in English, Chinese and Korean, Samsung said tests of more than 200,000 phones and 30,000 batteries showed different problems with each of the two kinds of batteries used in the Note 7. Some experts had speculated that the phones’ ultra-thin design or water-resistant features could have made them prone to overheat. Koh Dong-jin, president of Samsung’s mobile division, said the investigation found no such problems. The Galaxy Note 7 featured one of the biggest battery capacities so far for smartphones at 3,500mAh, or milliampere-hour, which gave it the highest energy density of all Samsung’s devices. But Koh said Samsung and outside inspectors found no evidence that the high energy density alone was to blame. Samsung unveiled the Note 7 on August 2 and weeks later recalled the first batch after reports emerged the phones were overheating and in some cases exploding. After replacement phones also started catching fire, aviation authorities banned them on flights, and the firm dropped the product for good.

Pope warns that rising populism could produce a new Hitler

CNBC - 6 hours 53 min ago
"In times of crisis, we lack judgment, and that is a constant reference for me," the pontiff said. NBC News reports.

Rubio will support Tillerson, removing confirmation hurdle

CNBC - 6 hours 54 min ago
The support from Rubio all but removes GOP opposition to Tillerson's nomination.

Cramer: Standing by his message, Trump 'slamming the door' on offshoring

CNBC - 7 hours 2 min ago
Cramer says if you're a company looking to cut costs by moving abroad, think again.

Verizon downgraded on concern the end of phone subsidies will lead to sales decline

CNBC - 7 hours 15 min ago
Wells Fargo estimates Verizon will have sales of $125.5 billion this year compared to the Wall Street consensus of $126.5 billion.

Police dogs on duty during China's Spring Festival travel rush

CHINA DAILY - 7 hours 25 min ago

Police dog Lulu checks the luggages at the security checkpoint in Lanzhouxi Railway Station in Lanzhou, capital of Northwest China's Gansu province, Jan 22, 2017. Many police dogs are on duty during China's Spring Festival travel rush between Jan 13 and Feb 21. [Photo/Xinhua]

Police dog Lulu is taken to patrol the platform in Lanzhouxi Railway Station in Lanzhou, capital of Northwest China's Gansu province, Jan 22, 2017. Many police dogs are on duty during China's Spring Festival travel rush between Jan 13 and Feb 21. [Photo/Xinhua]


Trainer Zhang Hongtao gives direction to police dog Lulu in Lanzhouxi Railway Station in Lanzhou, capital of Northwest China's Gansu province, Jan 22, 2017. Many police dogs are on duty during China's Spring Festival travel rush between Jan 13 and Feb 21.[Photo/Xinhua]


Police dog Lulu is on duty in Lanzhouxi Railway Station in Lanzhou, capital of Northwest China's Gansu province, Jan 22, 2017. Many police dogs are on duty during China's Spring Festival travel rush between Jan 13 and Feb 21.[Photo/Xinhua]

Trainer Zhang Hongtao takes police dog Lulu to patrol the platform in Lanzhouxi Railway Station in Lanzhou, capital of Northwest China's Gansu province, Jan 22, 2017. Many police dogs are on duty during China's Spring Festival travel rush between Jan 13 and Feb 21.[Photo/Xinhua]


Categories: INTEL 3

Trump's $1 trillion infrastructure promise may run into a conservative buzz saw, advisor says

CNBC - 7 hours 25 min ago
President Donald Trump has to come up with a "financing plan," real estate developer Richard Lefrak tells CNBC.

Trump's White House site says almost nothing about tech

CNBC - 7 hours 26 min ago
The primary mention of technology is Melania Trump's

These states would get hurt most in a Trump trade war

CNBC - 7 hours 34 min ago
President Trump's move to overhaul NAFTA could end up hurting workers in states that heavily supported him.

President Trump sued over foreign payments to his firms: Court filing

CNBC - 7 hours 55 min ago
The lawsuit accuses Trump of violating a 'foreign emoluments' clause of the U.S. Constitution, Reuters reports.

Bestselling author explains why you should invest in a 'career savings account'

CNBC - 8 hours 1 min ago
Jon Acuff shares a four-step strategy to help you succeed at work.

Trump tells business leaders he wants to cut regulations by 75% or 'maybe more'

CNBC - 8 hours 10 min ago
Trump repeated his campaign pledges to roll back rules on companies, arguing that they have "gotten out of control."

Trump properties face global terror risk with presidency

CNBC - 8 hours 15 min ago
Trump properties now a target.

'The unlucky nature of Trump' may slow economic growth, Peter Boockvar says

CNBC - 8 hours 23 min ago
The next two years could see a struggle between Trump's pro-growth agenda and monetary policy, Peter Boockvar says.

7 hard truths about money everyone should learn in their 20s

CNBC - 8 hours 26 min ago
Managing your money can seem complicated, but it doesn't have to be.

Billionaire developer: Trump's always negotiating — so judge him on results, not what he says

CNBC - 8 hours 31 min ago
President Trump has "more good sense" than opponents give him credit for, longtime friend Richard LeFrak tells CNBC.

Top Trump aide plans talks in Canada with Trudeau team: Report

CNBC - 8 hours 35 min ago
Jared Kushner, Trump's son-in-law, will travel to Canada where Prime Minister Trudeau and his cabinet are holding a two-day retreat.

Law schools that offer you the best bang for your buck

CNBC - 8 hours 38 min ago
While elite programs have high average salaries, lesser-known ones may offer students a better value.

Lower, but steady, economic growth expected in fourth quarter

CNBC - 8 hours 41 min ago
Housing has been a pillar of growth, but weak business investment has been the economy's biggest drag for nearly two years, reports USA Today.

Op-Ed: Beyond Obamacare—How Trump and Price will disrupt the health care system

CNBC - 8 hours 48 min ago
Trump administration's health care changes could bring higher costs and more confusion, says Jennifer Fitzgerald.

Wealthy car collectors are feeling more confident, as Scottsdale auctions rake in $260 million

CNBC - 8 hours 50 min ago
The Scottsdale auctions raked in their second-highest total ever, setting the tone for the collectible car market this year.

Investing in ETFs: 6 hot-topic trends for 2017

CNBC - 8 hours 59 min ago
The Inside ETF conference has begun, and by all accounts it is the biggest yet. Here's what attendees will talk about.

Don't worry about the Fed snuffing out the bull market for a long time, Bob Doll says

CNBC - 9 hours 13 min ago
The markets have a lot of catching up to do, and until the Fed sees excess, the bull will keep running, Doll says.

Qualcomm downgraded on mounting lawsuits against the chipmaker by FTC, Apple

CNBC - 9 hours 28 min ago
Instinent says Qualcomm needs approval for its NXP Semiconductors merger from several countries.

India’s bull-taming ban sets off mass protest in Tamil Nadu

SOUTH CHINA MORNING POST - 9 hours 33 min ago
Widespread demonstrations in the Indian state of Tamil Nadu demanding the resumption of a banned bull-taming sport are a flash point for much deeper anti-establishment resentments, some observers said Monday, as violence broke out for the first time since protests began last week. The state government on Monday moved to quell the tens of thousands protesting by enacting legislation to circumvent a 2014 ban on the seasonal sport of “jallikattu” by India’s top court. But that...
Categories: INTEL 3

Helping passengers a calling for railway worker

CHINA DAILY - 9 hours 34 min ago

Wang Wei, a staff member at Fuzhou South Railway Station, works on the platform, February 2016. [Photo/Xinhua]

As millions travel to visit their families and friends for Spring Festival, spare a thought for the railway staff working hard behind the scenes to ensure passengers a safe journey home. Ma Chi reports from Fuzhou, capital of Fujian province in Southeast China.

"I am happy to see passengers go home by train safely every day," said Wang Wei, a staff member at Fuzhou South Railway Station.

At first glance, it is hard to ignore the inches-long scars on his neck. They are legacies from four operations he has had to remove a tumor on his nerve several years ago.

"It's not a big deal," said Wang smilingly. He added that in his eyes, the most important thing is to provide the passengers with best services. That's what he has done in all these years.

Wang admitted that at the early years of his career, he did not take his job seriously and thought it was trivial and boring. But one incident changed his mind.

Wang recalled that in an afternoon in the winter of 1994, a woman in her 20s who has just gotten off the train collapsed and died from heart attack right in front of him. Wang watched her collapse and die, not knowing what to do.

"It was our incompetence that killed the girl," said Wang, adding that's when he realized the importance of his job. Since then, he has polished his skills every day and has become a star worker.

The Fuzhou South Railway Station, which opened in 2010, transports tens of thousands of people every day on high-speed trains.

It is Wang's 31st year serving passengers heading home for Spring Festival, the most important day for family reunion. In his time working at train stations, he has witnessed many changes.

"In the past, passengers were satisfied with simply going home, but now they want more quality services," Wang said.

Wang Wei works at a control room in the Fuzhou South Railway Station. [Photo/Xinhua]

To better serve passengers, volunteers at the railway station provide medical treatment for people in need and take special care of vulnerable groups. The service desk offers supplies to travelers, such as a sewing kit, wheelchair and umbrellas.

A "love fund" was set up to help migrant workers and other passengers who have lost their ticket or do not have enough money to go home.

Wang even published his personal phone number to help those who needed him. At the peak of the busy period, he answered more than 200 calls in one day.

Wang admitted that serving the passengers wholeheartedly has its price.

"I have little time to stay with my family. I try to make up for it," he said. "I think my wife is a great woman because she can understand the importance of my job."

Wang compensates for missing family time by cooking their favorite dishes when he is at home.

Wang said he is luckier compared with his colleagues because, as a Fuzhou native, he can go home after work, but many of his young colleagues from across the country have to stay at the railway station during the Spring Festival holiday.

"As their big brother, it is my duty to help them spend a happy festival here," Wang said.

This year's Spring Festival falls on Jan 28. More than 350 million trips are expected to be made via rail over the 40-day travel rush called "chunyun", up around 10 percent from last year.

Wang Wei plays with a kid after helping a passenger. [Photo/Xinhua]


Categories: INTEL 3

Tax season just started. Here's what you need to know

CNBC - 9 hours 36 min ago
Are you ready? You have until April 18 to file your tax return.


Subscribe to THE POLITICAL AVENUE™ aggregator - INTEL 3


LONDON (Reuters) - A 14-year old girl who died of cancer has been cryogenically frozen in the hope she could be brought back to life in the future after winning a landmark court case shortly before her death, the BBC reported on Friday, 2016-11-18.