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Media Report
October 23 , 2016
  • Wall Street Journal writes that ahead of a top-level Communist Party conclave, Chinese President Xi Jinpingis sending an unmistakable signal about what he expects from the tens of millions in the party's ranks: total loyalty. Culminating a weekslong state-media blitz hailing the sacrifice of Communist forces that trekked thousands of miles in the mid-1930s to find a haven to continue their revolution, Mr. Xi on Friday called for an equal display of commitment. "In our Long March of today, we must strengthen the party's leadership, persist with strict party discipline," he said in a speech carried on national television and emblazoned across the web. His rallying cry was also a warning. As China's ruling party braces for a year of intense political jostling ahead of a major leadership shuffle, its leader will brook no dissent within party ranks. When more than 300 top party officials gather Monday for a four-day policy meeting where the theme will be discipline, Mr. Xi's own clout will also come in for a test.

  • Bloomberg comments that while Sinophobia isn't yet a thing of the past and practices among Chinese buyers vary widely, merger-and-acquisition professionals say a new generation of savvy dealmakers is starting to emerge from the world's second-largest economy. "Many Chinese companies have become much more adept at navigating international deals in the last few years, and at soothing the concerns stakeholders might have," said Nicola Mayo, a partner at London law firm Linklaters LLP who specializes in China-Europe transactions. "In many of the larger Chinese companies, you're dealing with managers who were educated abroad or have worked in international firms. They understand the concerns about China and know they need to move carefully." That growing fluency is making Chinese businesses a more powerful force in the M&A world than ever before, particularly in Europe, which has accounted for nearly half of China's overseas takeovers this year.
  • New York Times reports that Philippine President Rodrigo Duterte said Sunday that Filipino fishermen "may" be able to return to the Chinese-held Scarborough Shoal in a few days after he discussed the territorial rift with Chinese leaders, but he did not say whether China imposed conditions. Duterte said that in talks in Beijing this past week, he insisted that the shoal off his country's northwestern coast — which China effectively took control of in 2012 following a standoff with the Philippines — belonged to his country, but added that the Chinese also asserted their claim of ownership. If Filipinos are allowed to sail back to Scarborough, a traditional fishing ground and storm shelter, Duterte said they would be prohibited from fishing inside a sprawling lagoon that is a fish spawning ground that should be protected. "We'll just wait for a few more days. We may be able to return to Scarborough Shoal, the fishing by our countrymen," Duterte said in a speech in the northern city of Tuguegarao, making a visit after the region was lashed by a super typhoon.

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