China

China’s food scandal – graphic of the day

Chinese regulators shut a meat supplier in Shanghai, a unit of U.S.-based OSI Group, following a TV report that showed workers picking up meat from a factory floor, as well as mixing meat beyond its expiration date with fresh meat. Today’s graphic shows a timeline of food safety incidents in China as well as a snapshot of OSI Group.

food scandal

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BRICS’ development bank – graphic of the day

Leaders of the BRICS emerging market nations launched a development bank and a currency reserve pool in their first concrete steps toward reshaping the Western-dominated international financial system. Today’s graphic breaks down the initial contributions by each country. Make sure to check out yesterday’s graphic which compared the BRICS economies to the United States.

BRICS

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BRICS economies – graphic of the day

The leaders of the BRICS economies are expected to sign a deal that creates a $100 billion bank and a reserves fund to challenge Western dominance over global finance. Today’s graphic shows the GDP, current account balance and exports for the five BRICS economies, compared to the United States.

brics

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South China Sea face off – graphic of the day

China has accused Vietnam of ramming its ships more than 1,000 times in a part of the sea and said while it wanted good relations with its neighbor, it would not abandon principles to achieve that. Today’s graphic is a timeline of close encounters between China and neighboring countries over disputed territories in the South China Sea.

South China Sea

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Higher education in China – graphic of the day

The Chinese government is reexamining its higher education system as many of the college graduates who are entering the job market are often ill-equipped to fill those jobs. Today’s graphic shows higher education data in China since 2001.

higher education

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Closing in on Zhou’s circle – graphic of the day

After former domestic security chief Zhou Yongkang fell from grace, many of his aides and associates have been placed under investigation. He and his wife are currently under house arrest. In a campaign unprecedented in modern China, Chinese President Xi Jinping is determined to bring down Zhou for making a behind-the-scenes grab for power, the sources say. Today’s graphic diagrams Zhou Yongkang’s inner circle.

Zhou Yongkang

Read the Reuters special report on the power struggle behind China’s corruption crackdown.

Brace for trouble in China’s property market

China’s property market is teetering on the brink of a major correction, but regional differences mean the pain won’t be spread equally, says Reuters Breakingviews’ John Foley.

Watch more Breakingviews episodes.

Journalist spotlight: Elzio Barreto on his scoop of China’s WH Group canceling its HK IPO

Reuters was the first to reveal that Chinese pork giant WH Group, the world’s biggest pork company, postponed its planned Hong Kong initial public offering and didn’t set a new timetable, effectively pulling the deal in its current shape. The scoop, scored by Hong Kong correspondent Elzio Barreto and IFR’s Daniel Stanton, reported that the postponement underscored weak demand for the deal even after the company slashed the offer’s size and reduced the valuation. In a Reuters Best: Journalist Spotlight Q&A, Elzio offers an inside look at the reporting behind the exclusive, which was ahead of competitors by at least 10 minutes.

Q. How did you get this scoop? What gave you the edge to be first with the news?

A. We had been covering the WH Group deal very closely for many weeks, reporting on several issues such as investors’ discontent over the huge number of underwriters on the IPO and concerns over a special share award to two top executives, so we had a good pulse on the how it was coming along. At one point, I was discussing with a source several issues affecting the deal and asked how that might affect the pricing, which was about to happen. Daniel, my colleague from IFR, had just reported a day earlier that the company was likely to price near the bottom of expectations, but the source hinted the deal might not get priced because of lack of demand. So after that initial tip, we chased it aggressively until we were able to confirm the IPO would be pulled.

Q. What types of reporting/sourcing were involved? (more…)

Top world tech and China IPOs – graphic of the day

Today’s graphic lists the top 15 technology and Chinese company IPOs. Facebook stands atop all of the tech IPOs in terms of proceeds, while Agricultural Bank of China and ICBC dominate the Chinese space.

IPOs

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Carpe dim sum: Hong Kong’s sukuk opportunity as gateway to China

Hong Kong is a latecomer to the sukuk markets and if the government issues its announced $500 million to $1 billion sukuk this year, it will also have been a long time coming since Hong Kong first announced its ambitions for its participation in sukuk markets. Despite the delays, it will be a significant development and could provide a market for many issuers who have not participated in sukuk markets.

The Hong Kong government has been forthcoming about its strengths and weaknesses in building a sukuk market as a result of its cooperation with Malaysia to learn the ‘how-to’s of the sukuk markets. The Deputy Chief Executive of the Hong Kong Monetary Authority Peter Pang explained that Hong Kong has focused its collaboration with Malaysia to “deepen co-operation with Malaysia in the development of Islamic finance”. The Deputy Governor of Bank Negara Malaysia Dato’ Muhammad bin Ibrahim added that Malaysia would offer its “expertise in structuring, managing and distribution of sukuk [and] advice on legal and sharia matters”. 

China

Gateway to China (more…)