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Media Report
March 15 , 2016
  • The Washington Post：Chinese insurer has global ambitions
    The Washington Post reports: "Young, privately owned and ambitious, Anbang Insurance Group stands out in China's staid, state-dominated insurance industry. Founded just 12 years ago, Anbang made a splash in the United States in 2014 with its $2 billion purchase of New York City's Waldorf Astoria Hotel....On Monday, it went after even bigger game, launching a surprise $14 billion bid with partners for the Starwood hotel chain....Its global expansion coincides with encouragement from the ruling Communist Party for Chinese companies to 'go abroad' to diversify away from dependence on a slowing domestic economy."
  • Bloomberg Business：China Drafts Rules for Tobin Tax on Currency Transactions
    Bloomberg Business reports: "China's central bank has drafted rules for a tax on foreign-exchange transactions that would help curb currency speculation...Imposing a levy on foreign-exchange trading would be the most extreme step yet by policy makers to prevent speculative bets against the Chinese currency, after state-run banks repeatedly intervened to support the yuan and the government intensified a crackdown on capital outflows. A Tobin tax would complicate plans by China to create an international reserve currency and could undermine the leadership's pledge to increase the role of market forces in the world's second-largest economy."
  • The Wall Street Journal：China's Censors Battle Mounting Defiance
    The Wall Street Journal reports: "Lately, President Xi Jinping's administration has run into mounting resistance to its efforts to tighten its vise even more completely over the country's printed works, its airwaves and digital networks, while it strengthens the Great Firewall to keep out foreign content....The full implication of these events is not yet clear. They may indicate deeper undercurrents in a political system that is increasingly under stress, buffeted by Mr. Xi's anticorruption campaign within the bureaucracy and his sweeping reorganization of the armed forces that have produced resentful senior officials and disgruntled generals...At the very least, though, the episodes suggest that Mr. Xi's pervasive controls may be pushing sections of society beyond their limits of tolerance."
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