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Media Report
June 28 , 2016
  • The Wall Street Journal：China, Vietnam Pledge to Cooperate at Sea Amid Maritime Dispute
    The Wall Street Journal reports: "Vietnam and China, despite differences over their competing territorial claims in the South China Sea, agreed to improve cooperation between their coast guards and better manage their maritime disputes. The countries signed a memorandum of understanding on Monday, Vietnam's Ministry of Foreign Affairs said, during a visit to Hanoi by Chinese State Councilor Yang Jiechi....Mr. Yang's visit came ahead of a closely watched verdict by an international tribunal in The Hague on China's claims over the South China Sea....Monday's agreement also follows a visit to Vietnam last month by U.S. President Barack Obama, who has sought to court Hanoi amid its standoff with Beijing....Vietnam's foreign ministry said the two officials discussed maritime issues, stressing the importance of not letting disputes escalate." 
  • Reuters：China's Li won't allow 'rollercoaster' markets after Brexit
    Reuters reports: "Chinese Premier Li Keqiang said on Tuesday he wouldn't allow the post-Brexit panic that roiled global currencies and stocks to send the country's financial markets into a tailspin, an indication authorities would intervene if needed to prevent market chaos. 'It's hard to avoid short-term volatility in China's capital markets, but we won't allow rollercoaster rides and drastic changes in the capital markets,' said Li, speaking at the World Economic Forum (WEF) in the city of Tianjin....Lou Jiwei, China's minister of finance, on Sunday described the initial market reaction as 'knee-jerk' and 'excessive' while Xu Shaoshi, head of China's top economic planner, expected the economic impact to be relatively small, despite some hit to investment, trade and capital." 
  • The New York Times：AP Source: Timberwolves Adding NBA's 1st Chinese Owner
    The Associated Press reports: "Minnesota Timberwolves owner Glen Taylor is bringing in two new minority partners to his ownership group, including the NBA's first Chinese owner, a person with knowledge of the situation told The Associated Press....Shanghai investor Lizhang Jiang and New Jersey real estate mogul Meyer Orbach are joining the Timberwolves' ownership group, the person said Monday on condition of anonymity because the deal has not been finalized....The NBA has long been heavily invested in growing the game in China, with former Houston Rockets center Yao Ming helping to make the league wildly popular in a nation of 1.4 billion people. And even though Liang will only buy 5 percent of the team, his presence could help raise the Timberwolves' profile in China and bring new marketing possibilities to a team that historically has not been a big seller abroad."
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