May 27, 2015

"China’s Navy will have some 415 warships by 2030, a former senior U.S. Navy officer predicts."

The National Interest The prediction was made by James Fanell, the former top intelligence officer for America’s Pacific Command, whose area of operations includes the Western Pacific. by Zachary Keck

'Speaking at the annual conference of the U.S. Naval War College’s China Maritime Institute, Fanell said that “The PLAN [People’s Liberation Army Navy] will continue to expand for the next 15 years.”

'According to Defense News, Fanell predicted that, in fifteen years, China will have an incredible 99 submarines, 4 aircraft carriers, 102 destroyers and frigates, 26 corvettes, 73 amphibious ships and 111 missile craft. That will give Beijing a total of 415 warships.

'This would be a considerable increase over China’s current naval power. In its most recent assessment of Chinese military power, the Pentagon said that “The PLA Navy now possesses the largest number of vessels in Asia, with more than 300 surface ships, submarines, amphibious ships, and patrol craft.” Moreover, in 2030 many of China’s warships are likely to be more advanced.

'At last week’s conference, Fanell especially emphasized China’s new Luyang III Type 052D class destroyers, which he referred to as a “game changer” because it will allow China’s Navy to expand its area of operations further out at sea.'

"China hasn't fully opened its capital markets, and there's a shortage of derivative and shorting tools global investors can use to hedge risks..."

South China Morning Post FTSE Russell, one of the world's largest index providers, said it will launch two transitional indices that include China A shares - a staggered approach that will bring mainland stocks into its global emerging markets benchmark in two to three years. via Reuters

'Expectations that yuan-denominated shares listed on the Shanghai and Shenzhen exchanges could make the cut have grown as reforms such as the Hong Kong-Shanghai stock connect scheme helped open up China's stock market.

'Chinese authorities have lobbied hard for the inclusion in global benchmark indices which could prompt billions of dollars to pour into China stocks over time, but some of the world's biggest fund managers oppose the move due to investment constraints in the country.

'"FTSE have offered a half-measure and that's not completely surprising, given the intransigence with which a number of major index users have reacted to the idea of China A-share inclusion in global benchmarks," said Michael McCormack, executive director at Shanghai investment consultancy Z-Ben Advisors.

'The FTSE announcement comes before a June 9 decision on China A-share inclusion by MSCI, owner of the world's most influential emerging markets benchmark.'

"In China in the first three months of this year, a new billionaire was created almost every week..."

Times of India The number of high net worth individuals (HNWIs) in China has passed the one million mark for the first time last year following a surge in the "innovative industries" sector, a study has shown. via PTI

'Defined as having more than 10 million yuan (USD 1.6 million) of investable assets, the country's super rich totalled 1.04 million at the end of last year, or twice the number recorded in 2010, the China Private Wealth Report said.

'The annual study is compiled by consulting firm Bain & Co and China Merchants Bank, state-run Shanghai Daily reported.

'China's investable assets rose by 16 per cent annually between 2012 and 2014 to 112 trillion yuan last year, the report said, adding that the figure is set to grow to 129 trillion yuan this year.

'Many of the "new rich" came from innovative industries such as IT, biotechnology and alternative energy, the report said.'

"Hong Kong-born Chan, 61, complained recently that Chinese films depend on big budgets and foreign directors and actors for box-office success."

Zee News Martial arts movie star Jackie Chan, one of Asia's most famous actors, has founded a film and television school in China, web portal Sina reported on Wednesday. via IANS

'Chan, whose Hollywood successes include “Rush Hour” and a remake of “Karate Kid”, said in his personal micro-blog that the new school, in the central Chinese city of Wuhan, was his "life-long dream".

'The actor attended the school's inauguration in the company of Chinese movie celebrities, including director Feng Xiaogang and actor Li Bingbing.

'The Jackie Chan Film and Television Academy will offer courses in acting, animation and other fields related to digital media.'

"The SUV, perhaps the most American of vehicles, is making a big splash in China..."

Time China’s total SUV registrations rose 48% in the first quarter, according to investment research firm Sanford C. Bernstein. by Ben Geier via Fortune

'SUV registrations represented 27% of all vehicles registered in China during the first quarter of this year, nearly doubling the rate from just three years ago.

'The interest in bigger trucks comes at least partially because Chinese drivers are suffering from some serious road rage, Bloomberg reports. With many drivers fearing for their safety while on the roads in China, they are opting for the bigger, more secure feeling of SUVs. The rise in road violence has grown along with a huge burst in vehicle ownership overall in the country, and the incidents have gotten so bad that the government has released a video urging drivers to calm down.'