SOME financial professionals in Shanghai were awarded today for their outstanding contributions to the city’s financial service sector when Shanghai beefs up efforts to become a global financial center. Ten
Большинство азиатских фондовых индексов в пятницу снизились на новости о проведении Северной Кореей ядерных испытаний, а также из-за разочаровавшей инвесторов позиции Европейского центрального банка (ЕЦБ), сообщает MarketWatch.
Азиатские фондовые индексы в пятницу движутся без единой динамики.
Китайские корпорации заняли три позиции из пяти самых крупных компаний мира рейтинга «Fortune Global 500» 2016 года. На втором, третьем и четвертом месте списка расположились Китайские электрические сети (прибыль 329 млрд долл), Китайская национальная нефтехимическая корпорация (CNPC, 299) и ее близнец Sinopec (294). ТОП-10 самых крупных корпораций всего за год поменялся из «американского» в «китайский»: если в 2015 году в топ-10 практически полностью состоял из американцев, то в 2016 году в нем осталось лишь три американские компании Wall-Mart (1 место, 482 млрд долл), Exxon Mobile (6) и Apple (9), остальные позиции были разделены между европейцами и японцами. Всего в 2016 году 110 китайских компаний вошли в рейтинг крупнейших корпораций мира , из них 12 в этом списке присутствуют впервые. «Пекинцы и южные китацы» Интересно, что новички от Китая разделились на две большие группы - госкорпорации со штаб-кватирой в Пекине и южно-китайские частные корпорации провинции Гуандун и соседнего Гонконга. «Пекинцы» China Electronics Technology Group (26,4 млрд долл), China Aerospace Science & Industry Corp (中国航天科工集团公司 27,8 млрд долл), China State Shipbuilding Corp (中国造船公司, 30,1 млрд), CRRC Corp Ltd (中国中车, 37,8 млрд долл) - госкорпорации в сфере аэрокосмических технологий ВПК, кораблестроения и локомотивостроения. В списке новичков также страховщик New China Life Insurance Co Ltd (新华保险, 25,1 млрд долл), корпорация известного сычуаньского миллиардера Ван Цзяньлиня Dalian Wanda Group (27,37 млрд долл) и основной конкурент «Алибаба» в Китае JD.com (28,8 млрд). Другую массивную группу новичков составили южные китайцы из ведущей экспортной провинции Гуандун и Гонконга: девелопер China Vanke Co Ltd (Шэньчжэнь, 29,329 млрд), девелопер Evergrande Real Estate Group Ltd (Гуанчжоу, 21,1 млрд долл), известный китайцам по своей футбольной команде пять раз подряд завоевашей титул чемпиона Китая, пищевой гигант WH Group Ltd (21,2 млрд, Гонконг), крупнейший производитель бытовой техники, в частности кондиционеров Midea Group Co (Фошань, 22,2 млрд), корпорация самого богатого человека Гонконга Ли Кашина CK Hutchison Holdings Ltd (Гонконг, 22,7 млрд долл). Полный список китайских компаний Fortune Global 2016, млн долл дохода 2 State Grid $329,601 3 China National Petroleum $299,271 4 Sinopec Group $294,344 15 Industrial & Commercial Bank of China $167,227 22 China Construction Bank $147,910 27 China State Construction Engineering $140,159 29 Agricultural Bank of China $133,419 35 Bank of China $122,337 41 Ping An Insurance $110,308 45 China Mobile Communications $106,761 46 SAIC Motor $106,684 54 China Life Insurance $101,274 57 China Railway Engineering $99,435 62 China Railway Construction $95,652 81 Dongfeng Motor Group $82,817 91 China Resources National $76,574 95 China Southern Power Grid $74,697 99 Pacific Construction Group $73,047 102 China South Industries Group $70,081 105 China Post Group $69,637 109 China National Offshore Oil $67,799 110 China Communications Construction $67,764 116 Noble Group $66,712 119 People’s Insurance Co. of China $64,606 121 COFCO $64,516 122 Tewoo Group $64,232 129 Huawei Investment & Holding $62,855 130 China FAW Group $62,852 132 China Telecommunications $61,796 134 China North Industries Group $61,621 139 Sinochem Group $60,656 143 Aviation Industry Corp. of China$60,252 153 Bank of Communications$57,068 156 CITIC Group$55,938 160 Beijing Automotive Group $54,933 163 Shandong Weiqiao Pioneering Group $53,026 189 China Merchants Ban k$48,459 190 Amer International Group $47,795 195 Industrial Bank $46,446 200 PowerChina $45,607 201 HeSteel Group $45,266 202 Lenovo Group $44,912 205 Sinopharm $44,325 207 China United Network Communications $44,085 217 China Huaneng Group $43,224 221 China Minsheng Banking $42,449 227 Shanghai Pudong Development Bank $42,030 229 CEFC China Energy $41,845 234 ChemChina $41,412 251 China Pacific Insurance (Group) $39,336 262 Aluminum Corp. of China $37,996 266 CRRC$37,837 267 Jizhong Energy Group $37,817 270 Shenhua Group $37,612 273 Jardine Matheson $37,007 275 Baosteel Group $36,608 281 China Shipbuilding Industry $36,012 290 China Metallurgical Group $35,314 293 Sinomach $35,134 303 Guangzhou Automobile Industry Group $34,440 309 China Energy Engineering Group $33,223 311 Greenland Holding Group $33,024 313 China Everbright Group $32,901 314 Jiangsu Shagang Group $32,751 318 Xinxing Cathay International Group$32,567 322 Datong Coal Mine Group$31,958 323 China Minmetals$31,883 325 Shaanxi Yanchang Petroleum (Group) $31,755 327 China National Building Materials Group $31,706 328 Jiangxi Copper $31,555 329 China Electronics $31,537 331 China Huadian $31,437 337 Shanxi Coking Coal Group $31,039 342 State Power Investment $30,616 344 China Aerospace Science & Technology $30,554 345 China Guodian $30,515 347 Shaanxi Coal & Chemical Industry $30,331 349 China State Shipbuilding $30,191 353 HNA Group $29,562 356 China Vanke $29,329 359 Wuchan Zhongda Group $29,052 366 JD.com$28,847 370 Shanxi LuAn Mining Group $28,642 374 Yangquan Coal Industry Group $28,310 381 China Aerospace Science & Industry $27,867 383 China General Technology $27,667 384 Shanxi Jincheng Anthracite Coal Mining Group $27,572 385 Dalian Wanda Group $27,377 386 China Nonferrous Metal Mining (Group) $27,189 401 China Poly Group $26,675 406 China Datang $26,440 408 China Electronics Technology Group $26,410 410 Zhejiang Geely Holding Group $26,304 426 Shandong Energy Group $25,136 427 New China Life Insurance $25,129 456 AIA Group $23,274 465 China COSCO Shipping $22,965 473 CK Hutchison Holdings $22,715 481 Midea Group $22,174 484 China National Aviation Fuel Group $22,101 489 Shougang Group $21,514 495 WH Group $21,209 496 Evergrande Real Estate Group $21,184 Язык Русский
CHINA Pacific Insurance (Group) Co, the country’s third-largest insurer, does not plan to issue preferred shares after the insurer reported a 82.4 percent jump in net profit last year although its solvency declined.
China Pacific Insurance (Group) Co said it has no plan to issue preferred shares after the company reported a jump in profits and declining solvency.
Obama Shrinking Second-Term Hastened by Syria Opposition (BBG) Obama says Russian proposal on Syria a potential 'breakthrough' (Reuters) Poll Finds Support Fading for Syria Attack (WSJ) France to Introduce Resolution Aimed at Dismantling Syria's Chemical Arsenal (WSJ) China Factory Output Rises (WSJ) Apple to Unveil IPhones Seeking End to Year of Struggles (BBG) Verizon Plans Largest Debt Sale Ever: Proceeds From Deal, Expected to Raise $20 Billion, Would Fund Venture Buyout (WSJ) Shipping Rates Seen at 2010 High on Record Ore to China (BBG) Europe Financial Transactions Tax Hits Legal Wall (FT) Japan Readies Stimulus to Cushion Blow of Sales-Tax Increase (BBG) Ads coming to Twitter: Twitter makes its largest acquisition, a mobile ad company (FT) Houses on fire as fighting erupts in southern Philippines (Reuters) Banks Seen at Risk Five Years After Lehman Collapse (BBG) Poll shows healthy young adults may keep Obamacare afloat (Reuters) Russia to Brazil Intervention Adds to U.S. Debt Distress (BBG) Overnight Media Digest WSJ * President Barack Obama's campaign for an attack on Syria took an unexpected turn as his administration inadvertently gave the Assad regime a potential way out that spawned second thoughts on Capitol Hill and enthusiasm among international opponents of a military strike. * Carl Icahn tried with all his might, but couldn't break the $24.8 billion buyout of Dell Inc. On Monday, the activist investor announced he wouldn't take further actions to block the buyout, moving the deal on the edge of passing at a scheduled shareholder vote on Thursday. * Koch Industries Inc known for concentrating on such unglamorous industries as oil refining, chemicals and fertilizer, has a new role: supplying electronic parts to Apple Inc. The Wichita, Kansas-based conglomerate, owned by billionaire brothers Charles and David Koch, on Monday announced an agreement to pay $7.2 billion, or $38.50 a share, for Molex Inc. * Neiman Marcus Inc's private-equity owners got the outcome they desired when they found a buyer to pay $6 billion for the luxury retail chain. They just wish it had come a few years earlier. Under terms of the deal announced Monday, TPG and Warburg Pincus LLC are poised to more than double the amount of cash they put in when they bought Neiman in 2005, people familiar with the matter said. * A federal judge in California ruled last week that clothing retailer Abercrombie & Fitch Co discriminated against a Muslim employee on religious grounds, the U.S. Equal Employment Opportunity Commission said Monday. The lawsuit was filed by the EEOC in 2011 on behalf of Umme-Hani Khan, a Muslim who was fired in February 2010 because her head scarf didn't conform to the company's dress code called its "Look Policy." * The battle over hydraulic fracturing is heating up in California - and broadening to include what California regulators contend has been undisclosed oil-well fracking off the Pacific Coast. The California Coastal Commission, which is charged with overseeing development along the state's coastline and in its waters, said it found out only recently offshore fracking had occurred from oil platforms overseen by the federal government. The state agency has launched a probe into the practice. * In a development that is sending ripples throughout the corporate-bond market, Verizon Communications Inc is expected to raise $20 billion or more on Wednesday in what would be the largest-ever debt sale by a company. The New York telecommunications company will sell debt ranging in maturity from three to 30 years, the banks backing the deal said Monday. * Brazil's OGX Petróleo e Gás Participações SA has tapped lawyers at Davis Polk & Wardwell LLP to represent it in talks with creditors, according to people familiar with the situation. The hire comes as Brazilian businessman Eike Batista tries to manage a split that is pitting him, a controlling shareholder, against the oil firm's managers. * Google Inc offered to make further concessions to European Union regulators to settle a nearly three-year antitrust probe and avert a possible multibillion-dollar fine. The European Commission, the EU's competition watchdog, was analyzing the proposals and if they are satisfactory, a deal could be reached in the coming months, an EU spokesman said on Monday. Google's proposal wasn't made public. * Chinese authorities said that social-media users who post comments considered to be slanderous could face prison if the posts attract wide attention - a ruling free-speech advocates criticized as an attempt to give legal backing to the suppression of online dissent. * UK cable operator Virgin Media Inc said it will make Netflix Inc available to some of its subscribers through their set-top boxes, making Virgin the first major pay-TV operator to integrate the streaming-video outlet into its service. FT Deutsche Bank AG is under scrutiny from Japan's securities market watchdog over concerns that its employees breached Japan's anti-bribery regulations by providing corporate entertainment to pension fund executives. ICAP is nearing a settlement with U.S and British regulators over allegations that it manipulated the Libor benchmark interest rates that would see the UK interdealer broker pay a fraction of the fines given to banks over the scandal. Verizon plans to sell a combination of fixed and floating-rate debt across maturities ranging from three to 30 years as part of its $130 billion acquisition of Verizon Wireless, according to a company filing with regulators. Spanish energy company Repsol has consulted Citigroup and Deutsche Bank on the possible sale of its $6 billion stake in utility Gas Natural. Twitter has bought mobile advertising company MoPub in its largest acquisition to date, in a deal worth 16 million shares in Twitter. NYT * A Russian plan to have international monitors take control of the Syrian government's chemical weapons appeared to offer an exit strategy for President Obama, who had been reluctant to order a military strike. * Documents released Monday detail the largely secretive process that lets the U.S. government detain an individual at a border crossing and confiscate or copy any electronic devices that person is carrying. * Yahoo and Facebook each filed suit in the secret Foreign Intelligence Surveillance Court to ask the government for permission to reveal information about the number and types of national security requests for user data that the companies receive. Meanwhile, Google and Microsoft, which filed suit in June to ask for this permission, amended their petitions Monday to compel the government to publish even more detail about the requests. * Google said it made a second attempt to settle an antitrust inquiry it faces in Europe over accusations that it abuses its dominance in Internet search and advertising. * On Monday, the Koch Brothers' conglomerate made a big move into a very different business by offering to buy Molex , a relatively obscure maker of electronics plugs for the likes of Apple - for $7.2 billion. * The U.S. government is selling $2.4 billion in bonds issued by Citigroup during the financial crisis in exchange for federal guarantees against the bank's possible losses. The sale by the Federal Deposit Insurance Corp ends the government's holdings in the third-largest U.S. bank. * In a barb-filled letter to shareholders on Monday, billionaire Carl Icahn wrote that he could not overcome a series of defeats, including changes to the voting rules that make it easier for Michael Dell and the investment firm Silver Lake to prevail in their bid to buy Dell Inc. * Comcast's NBCUniversal put Jeff Shell, a television executive, in charge of its film studio, Universal Studios, on Monday, leading to the promotion of one longtime movie manager and the ouster of another. * Robert Allbritton, the publisher of the Washington news publication Politico, said on Monday that he had acquired the three-year-old news website Capital New York and that he intended to turn it into a version of Politico for the Empire State. * The owners of the Neiman Marcus luxury retail chain agreed on Monday to sell it to a group led by Ares Management and a Canadian pension plan in a deal worth $6 billion. Canada THE GLOBE AND MAIL * A former Conservative campaign staffer charged in connection with the "Pierre Poutine" robo-calls told multiple acquaintances that he'd played a part in the 2011 effort to send opposition voters to the wrong polling station in a Southern Ontario riding, an Elections Canada investigator alleges. * A grassroots movement from within British Columbia's dejected New Democratic Party launched an effort on Monday to rebuild the political party and place modern-thinking people in positions of power at the NDP's November convention in Vancouver. Reports in the business section: * The long-delayed Keystone XL pipeline has been tangled up in environmentalist opposition and political wrangling. Now some energy experts say the oil market is moving on without it. A combination of growing oil-by-rail capacity and other new pipelines is increasingly providing alternatives to Keystone XL, just as Ottawa redoubles efforts to persuade President Barack Obama to green-light the project. * Fairfax Financial Holdings Ltd, the largest shareholder of BlackBerry Ltd , is courting some of Canada's largest pension plans to join it in a buyout consortium as one of the options for the embattled smartphone maker. Fairfax is also talking to potential buyers for its 9.9-per-cent stake. * Canada's Finance Minister Jim Flaherty said a deal is near that could see Canadian authorities begin collecting financial information on Americans living in Canada and remit it to the U.S. Internal Revenue Service. Flaherty said on Monday that he expects to reach an agreement "before too long" with the U.S. government. NATIONAL POST * Progressive Conservative Leader Tim Hudak insisted on Monday that he didn't approve a controversial housing allowance claimed by his ousted finance critic. Peter Shurman has said that Hudak approved his claim for C$20,719 (about $20,000) last year to subsidize his Toronto apartment after moving to Niagara-on-the-Lake. But Hudak denied it. * Nova Scotia Premier Darrell Dexter returned Saturday to the scene of what his New Democrats see as an economic triumph to call a provincial election for Oct. 8, reminding voters that his party has directly intervened in the economy when jobs were on the line. Dexter kicked off his bid for re-election in the Cape Breton town of Port Hawkesbury, where his government helped keep a paper mill running with a C$124.5 million aid package in 2012. FINANCIAL POST * In another visit to the United States to promote the proposed Keystone XL oil sands pipeline, Canada's Natural Resources Minister Joe Oliver met Monday with his United States counterpart, Energy Secretary Ernest Moniz, to propose a joint approach to greenhouse gas emissions and other technology initiatives in energy. * The Canada Pension Plan Investment Board secured its first large private deal in more than a year on Monday with partner Ares Management LLC to purchase U.S. luxury retailer Neiman Marcus Group Ltd for $6 billion. * Richardson GMP Ltd, a retail brokerage arm that caters to high net worth individuals, is set to double in size. The firm that grew out of the 2009 merger between the retail brokerage units of GMP Capital and Richardson Capital, has signed a definitive agreement to purchase Macquarie Private Wealth Inc, the local unit of the Australian-based Macquarie Group, that came to Canada in late 2009. China CHINA SECURITIES JOURNAL - The Chinese government plans to roll out a new set of policies to promote the use of new energy vehicles. Various government agencies are currently studying rules to promote the use of hybrid and electric vehicles, according to sources. SHANGHAI SECURITIES NEWS - Ping An Insurance (Group) Co of China Ltd and China Pacific Insurance (Group) Co Ltd plan to set up branches in the Shanghai free trade zone, according to sources. CHINA DAILY - China's judicial interpretations about handling online crimes will protect against online rumours, fraud, libel and blackmail, according to an editorial in the state-owned paper. But this crackdown should not have an impact on the freedom of speech, it added. PEOPLE'S DAILY - China's leaders are focused on the importance of education involving stricter measures, requirements and discipline to ensure that cadres are ideologically trained, said an editorial from the paper which is a mouthpiece for the Chinese communist party. Fly On The Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades BioMed Realty (BMR) upgraded to Overweight from Equal Weight at Morgan Stanley E-Trade (ETFC) upgraded to Outperform from Neutral at Macquarie Endesa Chile (EOC) upgraded to Buy from Neutral at Citigroup Fusion-io (FIO) upgraded to Overweight from Neutral at Piper Jaffray M.D.C. Holdings (MDC) upgraded to Outperform from Neutral at Credit Suisse Marvell (MRVL) upgraded to Overweight from Neutral at JPMorgan National Oilwell (NOV) upgraded to Outperform from Neutral at Credit Suisse TIBCO (TIBX) upgraded to Buy from Neutral at Janney Capital Downgrades Beazer Homes (BZH) downgraded to Neutral from Outperform at Credit Suisse D.R. Horton (DHI) downgraded to Neutral from Outperform at Credit Suisse Dollar General (DG) downgraded to Equal Weight from Overweight at Barclays First Horizon (FHN) downgraded to Hold from Buy at Wunderlich Hercules Technology (HTGC) downgraded to Market Perform at Wells Fargo Marathon Petroleum (MPC) downgraded to Neutral from Outperform at Credit Suisse Model N (MODN) downgraded to Hold from Buy at Stifel Model N (MODN) downgraded to Neutral from Overweight at JPMorgan NVR Inc. (NVR) downgraded to Underperform from Neutral at Credit Suisse NuStar GP Holdings (NSH) downgraded to Underperform from Neutral at Credit Suisse Red Robin (RRGB) downgraded to Hold from Buy at Wunderlich Initiations Blackstone Mortgage (BXMT) initiated with an Outperform at JMP Securities C&J Energy (CJES) initiated with an Overweight at Barclays Cimarex Energy (XEC) initiated with a Buy at Canaccord Concho Resources (CXO) initiated with a Hold at Canaccord CubeSmart (CUBE) initiated with an Underperform at Macquarie Illumina (ILMN) initiated with an Outperform at Wells Fargo Konami Corp (KNM) initiated with an Underperform at Jefferies Nationstar (NSM) initiated with an Outperform at Oppenheimer Ocwen Financial (OCN) initiated with an Outperform at Oppenheimer PHH Corp. (PHH) initiated with a Perform at Oppenheimer Sophiris Bio (SPHS) initiated with a Buy at Stifel Sprouts Farmers Markets (SFM) initiated with a Neutral at Credit Suisse Sprouts Farmers Markets (SFM) initiated with a Neutral at Goldman Sprouts Farmers Markets (SFM) initiated with a Neutral at UBS Sprouts Farmers Markets (SFM) initiated with an Underperform at BofA/Merrill TCP Capital (TCPC) initiated with an Outperform at Wells Fargo Walter Investment (WAC) initiated with a Perform at Oppenheimer iRobot (IRBT) initiated with a Positive at Susquehanna HOT STOCKS Wal-Mart (WMT) to launch smartphone trade-in program in U.S. Baxter (BAX) ratings affirmed by Fitch, negative outlook assigned PVH Corp. (PVH) expects consumer environment to remain soft Toshiba (TOSYY) to acquire T&D business from Vijai Electricals for $200M Emerald Oil (EOX) sold substantially all non-operated Williston Basin assets EARNINGS Companies that beat consensus earnings expectations last night and today include: Triangle Petroleum (TPLM), Conatus Pharmaceuticals (CNAT), PVH Corp. (PVH), Five Below (FIVE), Limoneira (LMNR), Casey's General Stores (CASY) Companies that missed consensus earnings expectations include: HD Supply (HDS), Pep Boys (PBY), Majesco (COOL) Companies that matched consensus earnings expectations include: Palo Alto (PANW), Peregrine (PPHM) NEWSPAPERS/WEBSITES On Sept. 23 the SEC will lift an 80-year ban preventing privately held businesses from advertising for investments, helping usher private businesses into the world of "crowdfunding" that has largely been limited to donations. Less excited are some state regulators who fear the relaxed rules could stoke scams and losses as businesses court individual investors to raise money, the Wall Street Journal reports Federal regulators' attempts to enforce "net neutrality" rules (VZ) may have just hit a tough snag. In oral arguments, a federal appeals court signaled it had deep concerns about the legal underpinnings of the FCC's 2011 rules requiring equal treatment for all traffic on the Internet, the Wall Street Journal reports At least three of the top 20 investors in Microsoft (MSFT) want a turnaround expert to succeed CEO Ballmer and urged the board to consider Ford (F) CEO Mulally and Computer Science CEO Lawrie (CSC) for the job, sources say, Reuters reports The European car market (VLKAY, FIATY, PEUGY, NSANY, DDAIF) is bottoming out after five years of falling demand, but high unemployment and weak bank lending suggest its recovery will be long and slow, executives at the Frankfurt car show say, Reuters reports IBM (IBM), which is moving benefits for Medicare-eligible retirees to a private health exchange, said in a letter that its contribution to their health care would be “consistent” with previous years, As long as retirees enroll with the private insurance exchange, Bloomberg reports Goldman Sachs Group (GS) is moving brokerage accounts for some current and former employees with less than $1M in assets to Fidelity Investments, sources say, providing more investment choices and services for employees who don’t fit the firm’s wealth-management focus on high-net worth clients, Bloomberg reports SYNDICATE Armstrong World (AWI) files to sell 10.06M shares of common stock for holders Enbridge Energy Management (EEQ) files to sell 8M shares of common stock Enbridge Energy (EEP) files to sell 8M shares of comon stock Fiduciary/Claymore MLP (FMO) files to sell 3.52M shares of common stock Inergy Midstream (NRGM) files to sell 11M units for limited partners Kennedy Wilson (KW) files to sell 6M shares of common stock MagnaChip (MX) files to sell 1.7M shares for stockholders Marketo (MKTO) files to sell 6M shares of common stock Rhino Resources (RNO) files to sell 1.1M units for limited partners Starwood Property (STWD) files to sell 25M shares of common stock Stratasys (SSYS) files to sell 4M shares of common stock Textura (TXTR) files to sell 4M shares of common stock TriMas (TRS) files to sell 3.75M shares of common stock UMB Financial (UMBF) files to sell 3.9M shares of common stock Virtus Investment Partners (VRTS) files to sell $175M in common stock Xoom (XOOM) files to sell 3.733M shares of common stock
Officers in Songjiang district of Shanghai will trial nose plugs amid growing concerns over pollution in Chinese citiesShanghai traffic police have been issued with nasal filters to help them withstand the city's choking smog.The city's Songjiang district traffic police department said it had given the U-shaped nose plugs to 240 officers for an initial trial.The scheme may be extended to rest of the city's traffic police if successful, according to state media reports.The department decided to provide nasal filters – which it called "invisible masks" – because unlike traditional masks they would not hinder officers from shouting and blowing whistles.A sequence of heavily polluted days in January, dubbed the "airpocalypse", has transformed public attitudes towards the thick smog bedevilling many of China's major cities.Geoff Crothall, communications director for the Hong Kong-based China Labour Bulletin, said: "It's obviously encouraging that Shanghai is realising the need to protect its police officers."He said many Chinese labourers such as miners and construction workers faced even worse conditions without adequate protection. "I just wish other employers would take the health and safety of their employees equally seriously," he said.An assistant traffic officer surnamed Chen told the state-run Global Times that she stood for more than six hours a day amid pollution and car exhaust fumes for a salary of 2,000 yuan (about £210) a month, plus 100 yuan "to compensate her for any damage to her health while working outside".Crothall said: "Legally, [traffic police] should be covered by insurance provisions. You won't get in a hospital door with 100 yuan these days."Nasal air filters are widely advertised online in China and western countries as an unobtrusive alternative to air-filtration masks. The news reports did not specify which brand of nasal filters the Shanghai traffic police were using or how effective they were at blocking common forms of pollution.The industrial city of Jinan, in coastal Shandong province, announced last month it had become China's first city to allow its traffic police to wear masks on heavily polluted days.Shanghai's air pollution levels, while not as high as those in Beijing, have risen in recent months. The city's air quality index reading rose above 100, the World Health Organisation's red line for public health, on 23 days this year, according to state media.ChinaAsia PacificPollutionJonathan Kaimanguardian.co.uk © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds
Via Conference Call 2:35 P.M. EST MR. RHODES: Thanks, everybody, for getting on the call. I have with me Danny Russel, the Senior Director for Asia here at the NSC; and Mike Froman, the Deputy National Security Advisor for International Economics. We're just going to talk through the agenda for the President’s meeting tomorrow with Prime Minister Abe of Japan. I would just note a number of things. As you know, the U.S. focus on Asia has been a priority of the President's since he came into office. The very first visitor he hosted -- foreign visitor he hosted here at the White House was the Prime Minister of Japan at the time. He’s had subsequent meetings with his Japanese counterparts on numerous occasions. This will be his first opportunity to host Prime Minister Abe, and it underscores the importance of the U.S.-Japan alliance as the foundation of U.S. strategy in Asia, both in terms of our security posture and in terms of our economic relationships in that dynamic and growing region of the world. So this meeting is a further symbol of the President's commitment to the U.S.-Japan alliance as a cornerstone of U.S. economic and security policy, and as a cornerstone of the U.S.-Asia policy. And the two leaders will have the chance tomorrow to meet, to speak to the press, and to share a meal together, as well. With that, I'll hand it over to Danny to speak to the agenda a bit, and then Mike can speak to the economic elements, as well. MR. RUSSEL: Thank you very much, Ben. And thanks to all of you for taking the time to talk through the visit of Prime Minister Abe of Japan with us. To build out the context that Ben Rhodes just provided, the President has always placed a very high priority on the U.S.-Japan relationship and alliance, which is a key pillar of the President's Asia rebalancing strategy. And as Ben alluded to, the President has held just in the first term about a dozen meetings with the Japanese Prime Minister. He's already spoke twice to Prime Minister Abe -- first, shortly after Prime Minister Abe won the election, but also in a substantive discussion in the aftermath of North Korea's nuclear test. So in some ways, this visit brings us full circle in the sense that, as Ben Rhodes just mentioned, the first leader to be received by the President in the Oval Office in 2009 was the Japanese Prime Minister. In fact, it was then-Prime Minister Aso, who’s now serving as the Deputy Prime Minister in the Abe government. And that took place almost literally four years ago, practically to the day. The first visit was just weeks after President Obama first took office, just as his visit is a matter of weeks since the President was inaugurated for his second term. In between, in addition to the election held here, Japan has experienced two dramatic changes of government. And the context point that I think is worth bearing in mind is the fact that the relationship has remained so steady and grown so strong through these changes is really a testament to the strong bonds and the shared values between us, as nations and between our people. And it also shows that there is now very strong bipartisan support for the alliance and for the partnership, in both countries. So turning to the meetings tomorrow, because we are strong allies and each in our own right major powers, there is naturally a very rich agenda for the two leaders to discuss, first on the security and the diplomatic issues, and then, of course, because we are the world's first and third largest economies, obviously important issues on the economic side, as well. So there will be, in effect, two meetings tomorrow -- first in the Oval Office, where we expect the agenda to center on a range of security and political, diplomatic issues. And then, after speaking to the press, the two leaders will continue in a working lunch session where the plan is for them to go through the range of economic issues. I will, of course, leave the economic issues to my colleague Mike Froman. But in the first session, I anticipate that President Obama and Prime Minister Abe will compare views on the bilateral relationship, including plans to further develop our strong security alliance. Obviously, out of necessity, they will talk about North Korea -- the recent events and the overall situation on the Korean Peninsula and in the region. I expect them to discuss maritime security issues, territorial claims both in the East China Sea and the South China Sea, as well as other Asia Pacific regional issues such as continued coordination in the global fora, like the East Asia Summit. They’ll also want to talk about global hotspots; candidate issues, of course, are Iran, Afghanistan, North Africa, and related counterterrorism questions. And we can be confident that throughout, President Obama will reaffirm to Prime Minister Abe his strong commitment to the alliance and to regional stability and cooperation; his resolve in the face of North Korea's provocation, and, as Ben Rhodes just mentioned, the strategic priority that the President continues to place on the Asia Pacific region, which is so important not only to the global economy but to America's future, as well. So with that, let me turn it over to Mike Froman. MR. FROMAN: Thanks, Danny. And I would just add very briefly that at the working lunch part of the visit, the leaders are expected to talk about a range of economic issues, including, very importantly, how to create more economic growth and creating jobs in our country. Right now, trade investment in Japan already supports a million U.S. jobs, and we expect that the leaders will be discussing ways to deepen and broaden their economic cooperation in a way that’s mutually beneficial for both our countries. That could include a review of the status of our consultations over Japan's potential interest in joining the Asia Pacific Poartnership. It's also likely that they’ll touch on energy issues and climate change issues that they share in common. And it's also possible that they’ll talk about cybersecurity, which is an issue of concern to both countries. Japan is a very important economic partner in any number of forums, whether it's the G7, the G8, the G20, APEC. We work very closely with Japan across a range of plurilateral, multilateral fora. And this is an opportunity for the leaders to touch base and talk about how best to work together in this arena. MR. RHODES: Great. With that, we'll take your questions. Q Thank you for taking my question. Mr. Froman, regarding the TPP, does the administration expect any big news from Japan on this? Namely, do you expect the Prime Minister to officially request to join the consultations -- or, rather, join the negotiations? And if so, is that something that's even possible, given the administration's stated goal of completing the talks by fall? MR. FROMAN: Well, as you know, Prime Minister Abe's predecessor expressed a potential interest in Japan joining TPP back in November of 2011, and there have been a series of consultations since with Japan about what it takes to meet the high standards of the TPP agreement, as well as to address outstanding bilateral issues, including in areas such as motor vehicles and insurance. So those consultations are ongoing and I think I would expect that the leaders would probably review the status of those consultations at this meeting. MR. RHODES: Great. We’ll take the next question. Q Thanks for taking the call. U.S. automakers are opposed to letting Japan into the TPP talks until they make progress opening their market that they say is essentially closed to U.S. auto exports. Is the administration willing to allow Japan to enter the talks without any preconditions, and would it also allow Japan to insist on certain tariffs not being part of the TPP talks? MR. FROMAN: Well, we’ve made very clear from the start that addressing critical, outstanding issues including those that you referred to in the motor vehicle sector were an important precondition for considering Japan’s interest in joining TPP, and that’s been one of the subjects of consultations over the last -- almost a year now. So we take those concerns very seriously, and we are in consultations with Japan over those issues. TPP is intended to be a comprehensive, ambitious, high-standard, 21st-century trade agreement. And the TPP leaders, back in November 2011, agreed to the outlines of an agreement where they all committed to that kind of outcome, an outcome where everything is on the table and subject to negotiation, and with a goal of a comprehensive agreement. And that is the goal of TPP, and anybody who joins TPP would be expected to sign on to that goal as well. MR. RHODES: Great. We’ll take the next question. Q Thank you very much for Mr. Froman. In terms of currency, does President Obama have any intention -- does he plan to raise currency with his counterpart specifically what seems to be their easing or their loosening? MR. FROMAN: Well, as you might expect, I’m not going to comment on currencies, per se. I’d simply say that the U.S. and Japan have a shared interest in seeing stronger global growth in the overall economy and we agree that no country should target currencies for competitive purpose or try to grow at the expense of others. MR. RHODES: Great, we’ll take the next question. Q Thank you very much. A couple questions. What, if anything, will the President have to say to his Japanese counterpart about what can be done to calm the tensions between Japan and China, especially on the maritime issues? And another, separate question -- Japan has made it clear that it would like the ability to import U.S. natural gas. U.S. exporters need a permit for this and the Energy Department has been studying it, but what is the administration’s view on allowing more exports of U.S. natural gas to Japan? MR. RUSSEL: Thanks. We, like others, are tracking the maritime issues in the East China Sea very closely. And I’m sure that the President will want to hear Prime Minister Abe’s assessment of the current situation, as well as his read on the diplomacy underway. There has been an ongoing diplomatic outreach and high-level contact between Tokyo and Beijing, and I believe the President would find it useful to get updated by the Prime Minister. The President’s focus, as you can imagine, is on the importance of managing these issues in a diplomatic way that lowers the tensions. This is a region that is so important to the international economy. It is the driver of growth and dynamism. Japan and China are important as leaders and as economies. No one wants to allow tensions to fester or to escalate. So, as I said, the President, I’m sure, will value hearing the Prime Minister’s assessment and will welcome any and all constructive steps to engage diplomatically and to manage the maritime situation in a way that presents the risk of miscalculation. MR. FROMAN: As you may know, the Department of Energy commissioned a couple of reports on natural gas exports to help inform the decision they needed to make on pending applications. Those reports and the applications are out for public comment. When that public comment and response period is over, the Department of Energy will assess and take into account the comments it has received, and then begin to address the pending applications, and that would include applications from firms that have proposed exporting to Japan. MR. RHODES: Great. Next question. Q Thank you very much. As you know, in December, new Chief Cabinet Secretary Yoshihide Suga indicated that the government of Prime Minister Abe is eager to review a 1993 statement on the issue of comfort women, which was issued by Yohei Kono, Suga's predecessor. In late January, Abe said his government would shelve their plans to review that statement. Nevertheless, this issue remains a concern of people in the region and in Congress. Today, Steve Israel -- a Democrat from New York -- issued a statement saying, "Japan's government must fully acknowledge, apologize for and increase awareness of its history with comfort women." And as you know, Hillary Clinton once said that they should not be called “comfort women,” they should be called enforced sex slaves. I'm wondering -- my question for you is does the President believe that the Japanese government has done enough to address the issue of comfort women? Or does the President believe that more should be done? And is he expected to raise this during his meeting with Prime Minister Abe? Thank you. MR. RUSSEL: Look, President Obama knows full well that there are very sensitive legacy issues from the last century and believes that it's important to take steps to promote healing. So our position has always been to encourage Japan to take steps that will foster -- better relations that will foster closer relations with all of its neighbors. And at the same time, we would hope and expect that others would reciprocate to constructive and positive steps that Japanese leaders might take. Prime Minister Abe will be here and will be addressing the public as part of his own program. I know that he has expressed his views in Tokyo in connection with what he describes as a future-oriented approach. Let's hear what he has to say when he visits Washington. Q I was wondering if the President, because of the nuclear test by the North Koreans, was planning on making any announcements regarding any naval forces being sent over there, any deployments, anything like that. Is there anything specific that you're going to announce tomorrow regarding more U.S. forces or anything of that nature? MR. RHODES: I would not expect specific announcements of that nature. What I would say is a couple of things. First of all, they will certainly be discussing North Korea and its pattern of provocative action, including the recent nuclear tests. We believe that, as the President said in his State of the Union, our response to the North Korean nuclear test and its broader pattern of provocative acts must start with very firm U.S. commitments to the security of our allies, Japan and South Korea. It will have to include close coordination with Japan and South Korea. It will also include our continued support and investment in missile defense to protect the United States. It will also include international action so that the U.N. Security Council and the international community is speaking with one voice to make clear to North Korea that there will be consequences for their actions. More generally, I think it is important to note that the U.S. maintains a robust defense posture in Northeast Asia. At the root of that of course is our alliance with Japan. And we will continue in the future to have very strong defense relationships with Japan, South Korea, and other countries in the region that will include military exercises and a range of other defense cooperation. And the North Korean provocation only highlights the importance of those defense relationships and the importance of having a strong U.S. presence in Northeast Asia and in the region more broadly. That, too, is, frankly, a reason why we have prioritized, for instance, in our defense budget strategy the Asia Pacific region in terms of the resources we allocate for our defense strategy. Yet another reason, frankly, why we would expect and urge Congress to take action to avert the sequester, given the range of defense commitments that we have, including in Northeast Asia, related to the recent North Korean provocation. With that, we'll take one more question. Q Thank you very much. In the interview with The Washington Post, Prime Minister Abe said on the Diaoyu Island issue, China’s coercion or intimidation will lead to, “losing the confidence of the international community, which will result in less investments in China. I believe it is fully possible to have China to change their policy once they gain that recognition.” I'm just wondering what’s the assessment of the White House on his statement, and will the U.S. join the economic fight with China over the Diaoyu Island issue? Thank you. MR. RUSSEL: Well, the President looks forward to hearing Prime Minister Abe’s assessment and views both of the situation in the East China Sea, but also the consultations that are taking place at a political and a diplomatic level between Tokyo and Beijing. I know that the President believes, and I, frankly, am confident that both leaders believe that constructive bilateral relations with China are important -- are essential, frankly, for regional growth, and that managing differences is an important part of every bilateral relationship. Sino-Japanese relations have significant impact on all of us and on all the countries in the region, so it’s something that we all pay close attention to. The East China Sea and, frankly, the broader Asia Pacific region is an area in which stability is in all of our interests. And the President is very supportive and remains supportive of the peaceful efforts to find diplomatic resolution to outstanding issues of territorial claims and so on, and has been clear in the United States’ opposition to coercive actions or unilateral steps that threaten the stability of the region. MR. RHODES: Well, thanks, everybody, for joining the call. We'll continue to take your inquiries here through the next day or so. And we look forward to a positive meeting tomorrow between the President and Prime Minister Abe. And with that, thanks again. And we'll have a transcript of this call around here later this afternoon as well. Thanks. END 3:12 P.M. EST
In recent weeks there has been growing buzz about what many call a transatlantic free trade agreement, or TAFTA. President Obama may announce in his State of the Union address on Tuesday his intention to begin negotiations with the European Union; EU leaders gave their go-ahead on Friday. Transatlantic trade is already sizeable. The U.S. exports three times as many goods to Europe as to China, and the EU exports twice as many goods to the U.S. as to China. Free trade could translate into millions of new jobs in the U.S. and Europe and improve both earnings and competitiveness for many companies, particularly small- and medium-sized enterprises. One European think tank estimates that a U.S.-EU free trade deal would be worth 5 times the U.S.-Korean free trade deal ratified in 2011. But trade in goods accounts for only about 20 percent of transatlantic commerce. Even greater gains could be had if leaders go beyond a TAFTA and forge a broad-based Transatlantic Partnership that spurs mutual investment flows, boosts the services economy, cuts unnecessary red tape, and opens global markets. The United States and the European Union are each other's most important investment partners. Transatlantic investments have combined annual sales exceeding $4 trillion, which dwarfs any other commercial relationship in the world. Investment from Europe accounts for 74 percent of total foreign direct investment in the United States. Foreign investment and sales by European companies in America and American companies in Europe power transatlantic commerce and provide millions of jobs on both sides of the Atlantic. Those sales are double comparable sales in the entire Asia/Pacific. Tackling investment barriers can create jobs and spur growth. Services are the sleeping giant of the transatlantic economy. Most American and European jobs are in the services economy, which accounts for over 70 percent of U.S. and EU GDP. The U.S. and EU are each other's most important commercial partners and major growth markets when it comes to services trade and investment. The two economies have never been as intertwined as they are today in financial services, telecommunications, utilities, insurance, advertising, computer services, and other related activities. Yet protected services sectors on both sides of the Atlantic account for about 20 percent of combined U.S.-EU GDP -- more than the protected agricultural and manufacturing sectors combined. Removing barriers in services would generate the same gains to consumers and companies as have the past 50 years of multilateral trade negotiations in these other areas. The real barriers to a more open transatlantic market are not trade barriers, they are differences in regulation. U.S. and EU regulators generally have the same high standards for protecting the welfare of our consumers, our environment and the health of our citizens. A detailed study of 3,000 risk-reducing regulatory decisions in the U.S. and EU shows that overall risk stringency is about the same; divergences stem largely from protectionism. If the transatlantic partners could recognize the essentially equivalent nature of many U.S. and EU regulations, they could open up even more opportunities for growth and jobs. Finally, a Transatlantic Partnership should also be used to open global markets. The multilateral trading system is under challenge. A number of rapidly emerging countries do not share the core principles or basic structures that underpin open rules-based commerce, and are now showing no real interest in new market-opening initiatives. As a result, the global economy is drifting dangerously towards the use of national discriminatory trade, regulatory and investment practices. Yet given the size and scope of the transatlantic economy, standards negotiated by the U.S. and EU can quickly become the benchmark for global models, reducing the likelihood that others will impose more stringent, protectionist requirements for either products or services. Mutual recognition of essentially equivalent norms and regulatory coherence across the transatlantic space, in areas ranging from consumer safety and intellectual property to investment policy and labor mobility, not only promise to lift the lives of our people but form the core of broader international norms and standards. We should have no illusions about the difficulties involved. Remaining tariff barriers, especially in agriculture, are politically sensitive. Some of the most intense transatlantic disagreements are over regulatory policy. Issues such as food safety or environmental standards touch nerves on each side of the Atlantic. To complicate matters further, responsibility for regulation is split in the EU between European and national levels, and in the U.S. between the federal and state governments, so simply getting the right people into the room can be a real challenge. Investment barriers, especially in terms of infrastructure and transport sector ownership, will be very difficult to change. But the potential payoff is high, and will translate into jobs and economic opportunity not only for our citizens but for billions around the world. ____________ For a more complete overview of the transatlantic economy, including figures on jobs, trade and investment for all EU 28 member states and 50 U.S. states, as well as full data references, see Daniel S. Hamilton and Joseph P. Quinlan, The Transatlantic Economy 2013, Vols. 1 and 2 (Washington, DC: Center for Transatlantic Relations, 2013), from which the following section is largely drawn. Unless otherwise indicated, data are from Eurostat, the U.S. Department of Commerce, the WTO and the IMF; investment and investment-related jobs are from the U.S. Commerce Department's Bureau of Economic Analysis; trade data are from the IMF Trade Statistics and the Office of Trade and Industry Information of the International Trade Administration.