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Media Report
June 14 , 2017
  • The Wall Street Journal：The Disappearance of a Chinese Deal Maker
    The Wall Street Journal reports: "Late last week a special investigative unit looking at economic crimes detained Mr. Wu, people familiar with the matter said. In a terse statement Wednesday, Anbang Insurance Group said its chairman is 'temporarily unable to fulfill his role for personal reasons' and has authorized other senior executives to manage the business. Mr. Wu can't be reached and Anbang declined additional comment...In addition to going toe-to-toe with the likes of private-equity firm Blackstone Group LP, Mr. Wu was known for top-shelf political links in China...In Mr. Wu's case, one political connection was his marriage to a granddaughter of former leader Deng Xiaoping. Politically connected tycoons in China are a double-edged sword for the leadership in Beijing, and a focus as the Communist Party gets set to hand President Xi Jinping a second five-year mandate at a meeting this autumn. His political standing depends in part on party views of his signature anticorruption campaign...Mr. Wu was detained by a joint team of antigraft investigators and police officers specializing in economic crimes, the people familiar with the situation said. The investigation has been going on for months but is still in its early stages, they said, and doesn't mean charges will be brought. They said the probe in part centers on possible bribery or other economic crimes by Mr. Wu at Anbang."
  • The Associated Press：China reasserts hard line on Taiwan after Panama's switch
    The Associated Press reports: "China reasserted its hard line on Taiwan on Wednesday following Panama's switching of diplomatic recognition from Taipei to Beijing. Spokesman for the Cabinet's Taiwan Affairs Office Ma Xiaoguang told reporters that there could be no deviation from Beijing's insistence that Taiwan acknowledge it is part of China. 'Only by recognizing ... that the two sides belong to one China can the relations of the two sides return to the correct direction of peaceful development,' Ma told reporters at a biweekly news briefing. The move this week by Panama, which was among the largest economies to have maintained diplomatic relations with Taiwan, was the clearest sign yet of China's drive to increase pressure on Taiwan's independence-leaning President Tsai Ing-wen. Tsai's ruling Democratic Progressive Party says it wants stable relations with Beijing, but hasn't followed Tsai's predecessor, Ma Ying-jeou, in endorsing the 'one China' principle."
  • Foreign Policy：Even China-Backed Development Bank Won't Touch Coal Projects
    Foreign Policy comments: "The China-backed Asian Infrastructure Investment Bank won't be getting into the coal business. That's according to AIIB's vice president Thierry de Longuemar. Speaking in Beijing ahead of the bank's second general assembly on the South Korean island of Jeju this week, de Longuemar said that the China-backed rival to the World Bank and other development banks would adhere to the kind of environmental rules guiding investments at those Western-dominated institutions. 'There are things it won't finance, like coal-fired power plants,' he told AFP. Bank officials had said earlier this year that they would avoid investments in coal, but then acknowledged that member states in the bank were still wrestling with the issue. But the AIIB's apparent resolve to forgo coal power plants — if it is adhered to — would be yet another sign of headwinds for coal, a big contributor to greenhouse gas emissions that cause climate change...But just because the AIIB says it plans to steer clear of coal doesn't mean that China is out of the business entirely. There are other pots of Chinese money underwriting big investments across southeast Asia and Central Asia, including the New Silk Road Fund and the New Development Bank (the so-called BRICS bank), and they don't seem to have the same environmental standards as AIIB. In Pakistan alone, Beijing plans to invest tens of billions of dollars in energy projects, including coal-fired power plants."
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