News,Briefs:Fake News

　　 China is said to plan to give visa to hedge fund’s entry 　　As the British Financial Times reported, China has already allowed overseas hedge funds to raise capital from rich men in China for theie overseas investment. According to the analysts, if hedge funds are given the permission to raise funds in mainland China, this country will have an important step forwards in opening the capital accounts. In terms of investment, the overseas investment of RMB is to be diversified through hedge funds.
　　Two sources said that this reform in the name of Qualified Domestic Limited Partner will require hedge funds to apply for licenses and get registered in Shanghai. One of the two sources said that at first only the largest hedge funds(managing over 10-billion-USD assets) would be allowed in.
　　Laurie Pinto, CEO of North Square Blue Oak, said that many hedge funds were waiting to submit their applications for licenses even though the plan is not officially announced. It is said that this plan is to be carried out slowly and carefully initially as the qualified institutions might be allowed to raise maximally 5 billion U.S. dollars.
　　According to the report from the FT, foreign hedge funds universally set foot in mainland China. According to the research made by Hedge Fund Research, by the end of the first quarter of 2012, about 30% of Asian hedge funds were headquartered in China. The statistical data shows that the total number of Asian hedge funds has reached 1101, involving the capital of 86.6 billion U.S. dollars.
　　Presently, the ordinary investors in mainland China mainly make overseas investment through the “Qualified Domestic Institutional Investors”.
　　“The investment concept of hedge funds is completely different,” a hedge fund manager said. The strategies taken by hedge funds mainly include bull and bear of stock, convertible bond arbitrage, market neural strategies and so on. The overseas investment with RMB can be diversified through hedge funds, which cannot be achieved through QDII.
　　
　　 SAFE: spread the reform to management system for foreign exchanges of goods trade nationwide
　　The State Administration of Foreign Exchanges (SAFE) recently announced that the reform to the management system for foreign exchanges of goods trade would be initiated from August 1, 2012, along with which the customs declaration process will be changed and the acquisition of tax rebate voucher will be simplified.
　　Mei Xinyu, a fellow from the International Trade & Economics Cooperative Institute of the Ministry of Commerce, thought highly of the change.“The reform to the management system is good for foreign trade-oriented en- terprises since it simplified the management process.”
　　An insider from the SAFE pointed out that the foreign exchange management system and supporting management information system are run well in the pilot areas and received the support from trade enterprises, local governments and other relevant parties
　　“The changes tally with the size, method and development of foreign trade in China and are an important measure to deal with the international trade situation. It is good for improving the foreign exchange service and management of goods trade, enhancing enterprises’ commitment to honest activities, lowering the social cost and boosting the sustainable development of foreign trade,” said the insider from the SAFE.
　　From the 1990s, the exportation in China used the charging-off system of“charging off every order, beforehand filing, on-the-spot checking and behavior management”.
　　The core of this system will be moved to the check of total quantity, dynamic supervision and classified management.
　　“The changes are necessary for China to improve its trade position and the trade size,” Mei Xinyu pointed out.
　　 HSBC: China’s economy hit the bottom in Q2
　　HSBC Holdings published the report on July 11 that the economic development of mainland China hit the bottom in the second quarter of 2012. It also forecasts the country’s growth rate in the third quarter at 8.5% and the whole year’s growth rate at 8.4%.
　　Frederic Neumann, co-executive of HSBC Economic Research AsianPacific said in a press conference that the economy in mainland China was not going to have a hard land as the stimulus for domestic demand will offset the negative influences of weakened export. In the future the FDI will be continuously slowed.
　　Frederic Neumann advised the Chinese central government to intensify the efforts into launching financial measures to boost the demand for credit. Banks are also advised to lend more loans to small- and middle-sized enterprises while controlling the loans lent to property developers.
　　 Chinese private companies’overseas investment is backed up by government
　　On July 3, the National Development and Reform Commission published a document making definite stipulations on private companies’ overseas investment and relevant macro guidance, policy support, service security and so on.
　　The document requires the relevant government departments to be a good inductor for private companies in overseas investment by improving the guidance of industries and countries for investment. They need to support qualified private companies in their exploitation of energy and resources in foreign countries. Private companies are also encouraged to invest more in hi-tech industries and high-end manufacturing in the overseas market, which could boost the development of emerging industries in China.
　　Meanwhile, powerful private companies are encouraged to ally with foreign companies in the infrastructure construction, agriculture and service. Qualified private companies are encouraged to go outside to build overseas distribution centers and logistics systems.
　　As for the policy support, the current special policies should be fully used to give the maximal support for private companies by lowering the tax for private companies’ overseas income and encouraging them to go out.
　　
　　In addition, the document also requires the relevant departments to work with embassies of China in foreign countries to keep the safety of persons and assets of private companies in foreign countries.
　　 Pepsi hurries to expand in China with the priority to agricultural projects
　　Pepsi is increasing its business in China. Its senior executives hope that the Chinese consumers could love its potato chips with the taste of sour-soup fish, white fungus oatmeals, and orangetaste Gatorade drinks, which could promote this company to march towards the largest snack and drink manufacturer in China.
　　Indra K. Nooyi, CEO of Pepsi, said that China would become the largest consumption market in the next ten years and Pepsi hoped to be the largest food and drink company in this market. But she did not say when Pepsi was going to realize this goal.
　　Tim Minges, board chairman of Pepsi Greater China, said that Pepsi is going to expand the categories of oatmeal in China and look for a more diversified taste with the enlightenment of the Chinese medicine. The oatmeal with the taste of medlar on sale is one of them. In addition, Pepsi is expanding its agricultural project in China, hoping to increase the output of potatoes by improving the irrigation system. Pepsi is also known to plan to set up a research and development center in Shanghai.
　　 Greeks hate rich men most while China ranked fourth from the last
　　Some people think that the rich people are more likely to be hated by others. The recent research proves this viewpoint and reveals that the “hatred for rich men” exists in every country of the world – over 60% of Australians think the rich men in their country deserve their wealth while only 10% of Greeks hold the same opinion.
　　The Economist reported that the world-known research company GlobeScan made a survey about “whether rich men in your country deserve their wealth” by issuing questions to 12 thousand respondents in 23 countries. The result shows that people in Australia, Canada, the United States, China and India hold the least hatred for rich men. In comparison, Greeks, Russians and Turks hate rich men in their countries most.
　　The detailed result can be found in the Chart:
　　 Bright Food plans to acquire 70% of the stake of a French wine exporter
　　It is reported that Chinese state-owned enterprise Bright Food is going to acquire 70% of shares of French Bordeaux wine exporter Diva for its entry into the wine industry.
　　The volume of this acquisition is not revealed. As the report shows, Diva is a private company and 45% of its wine is sold to China while Asia contributes to 60% of its sales.
　　China is the largest importer of Bordeaux wine. In 2011 the consumption of wine in China had a drastic increase of 110% year on year.
　　There are 11,000 chateaus along the Garonne in Bordeaux. The Chinese investors have already acquired 15-20 of them since 2008 and 30 of them are to be branded with Chinese soon.
　　

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