4um: China's Xinhuanet gets approval for going public in Shanghai

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Title: China's Xinhuanet gets approval for going public in Shanghai
Source: [None]
URL Source: http://news.xinhuanet.com/english/2016-09/24/c_135710007.htm
Published: Sep 26, 2016
Author: Editor: huaxia
Post Date: 2016-09-26 01:26:40 by Tatarewicz
Keywords: None
Views: 637
Comments: 10

BEIJING, Sept. 24 (Xinhua) -- Xinhuanet.com, the website of China's official news wire Xinhua News Agency, has got the green light for an IPO on the Shanghai bourse.
The China Securities Regulatory Commission (CSRC) announced the approval Friday night after years of consideration, without elaborating.
According to the company's prospectus, Xinhuanet.com plans to raise nearly 1.5 billion yuan (230 million U.S. dollars) to fund its multi-media business, cloud service and mobile Internet services.
In 2014, the company earned 634 million yuan in business revenue and 188 million yuan in net profit. Its major source of revenue came from advertising, which contributed 348 million yuan in 2014.
Xinhua News Agency holds more than 80 percent of the shares.
The move is part of the government's push to commercialize the state-controlled news websites to make them more competitive in a fast-changing industry.
People.cn, website of the People's Daily -- the flagship newspaper of the Communist Party of China, went public in early 2012.
Xinhuanet.com applied for an IPO in early 2013, but the procedure was suspended as the CSRC halted approval of new stock listings. Another application was submitted in mid-2014 after the approval process resumed.
Links to Xinhuanet.com >>
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#1. To: Tatarewicz (#0)
Not quite sure if this was caused by Obama's intention to relinquish control of the internet to Europe, but it may have been a factor.
Trump won't allow it, but Obama may squeeze it through before he leaves office.
Other than that, whatever China does within China's internet really has no impact much of anywhere else.
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
HAPPY2BME-4UM posted on 2016-09-26 3:23:27 ET Reply Trace Private Reply
#2. To: HAPPY2BME-4UM (#1)
Not quite clear how much ownership and press control is retained by government or Communist party. Probably not much change. Even in best of times it's hard for politicians to handle a billion+ people; don't need media stirring things up.

Tatarewicz posted on 2016-09-27 0:24:48 ET Reply Trace Private Reply
#3. To: Tatarewicz (#2)
Not quite clear how much ownership and press control is retained by government or Communist party. Probably not much change. Even in best of times it's hard for politicians to handle a billion+ people; don't need media stirring things up.

==========================================
China's biggest two challenges in the coming year are historical national debt (even greater than our's) and unemployment.
Both are catalysts for war for status quo regimes to hold on to what they have.
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
HAPPY2BME-4UM posted on 2016-09-27 2:57:52 ET Reply Trace Private Reply
#4. To: HAPPY2BME-4UM (#3)
Both are catalysts for war for status quo regimes to hold on to what they have.

Been the traditional formula in times past. Let's hope the new China crew with engineers and PhDs at the helm will handle things differently.

Tatarewicz posted on 2016-09-27 23:20:06 ET Reply Trace Private Reply
#5. To: Tatarewicz (#4)
Both are catalysts for war for status quo regimes to hold on to what they have.
Been the traditional formula in times past. Let's hope the new China crew with engineers and PhDs at the helm will handle things differently.

=====================================================
If over a billion people get hungry to the starving point at the same time (e.g., Chinese), no army of PHDs are going to be able control them.
At the present time though, China is doing a better governmental leadership job than what is at the helm of the US gov, and not just at the Federal levels.
No government is without corrupt leaders, we just happen to have as many as they do now.
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
HAPPY2BME-4UM posted on 2016-09-28 10:11:43 ET Reply Trace Private Reply
#6. To: HAPPY2BME-4UM (#5)
China has lots going for it. They actually export a fair amount of food. Seems to be nothing but garlic from China in Canadian stores, oranges, fish, lots of prepared foods. They are developing industries in Africa, South America, Russia, Australia not only as investments but probably as food and resource supplies. A fair amount of effort is going on to stamp out corruption. Chinese unusually industrious, willing to work whatever the pay. A fair number of their top people have been trained in schools of the West and probably fewer of the really bright who train abroad will not return. China not meddling in politics abroad; has much of the world looking at it as a market. Most important, they don't have to take orders from Israel's Khazars who have been nothing but so much trouble that they had to be chased out of more than a hundred communities over the centuries.

Tatarewicz posted on 2016-09-29 1:05:03 ET Reply Trace Private Reply
#7. To: Tatarewicz (#6)
Most important, they don't have to take orders from Israel's Khazars who have been nothing but so much trouble that they had to be chased out of more than a hundred communities over the centuries.

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In that respect alone they are in greater control of their own country than we are.
I read an article recently though saying China's national debt is over ten times what the debt of the US is. And that is a major political bubble waiting to burst, and if it does it would cause world depression, if not world war.
So, our best interesting is in seeing China continue to prosper, and somehow do so without the horrendous trade deficit China has in their favor.
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
HAPPY2BME-4UM posted on 2016-09-29 2:45:38 ET Reply Trace Private Reply
#8. To: HAPPY2BME-4UM (#7)
Most of China's debt incurred in funding wealth-producing assets: high-speed rail, resources and other development abroad (goodwill) whereas US builds debt by propping up a bunch of thieves in ME, squandering money on weapons and wars against enemies of these these (badwill). China builds trade surpluses, buys gold, US debt.
From Bloomberg: China is different from other markets in an important way. Many large corporations and nearly all the major banks are state-owned. In other words, the debtors and creditors are ultimately owned by the same entity. That means the country could address debt problems in some unusual ways. One scenario is the state could take from the prosperous—coastal regions or high tech, for example—and give to the struggling. Another is that the government could simply cover debt. Some unprofitable state-owned enterprises are supported by lending from their banks essentially to keep employment at acceptable levels. Such debts could eventually be absorbed by the state as part of its social welfare expenditures.
As China gradually opens up its stock and bond markets, more capital could become available to deal with the country’s obligations. The potential inclusion of Chinese stocks and bonds in the global indexes over the next few years would help facilitate that.
This isn’t to say that China doesn’t have some serious problems. Growth is slowing and the economy needs major restructuring. There will be winners and losers and turmoil in the market. Shadow-banking activities add another risk. It isn’t certain that the government will handle the challenges in the next decade as deftly as it has in the past. The country’s economy is far larger and more complex.
Fortunately for the rest of the world, China has a high savings rate. Capital controls aren’t fully lifted, making capital flight difficult. The government has almost complete control of the banking industry. In addition, China’s listed banks get about 70 percent of their funds from deposits. In comparison, U.S. investment banks in 2008 relied heavily on short-term money-market funding.
Such circumstances make it unlikely that China’s debt will spark a global crisis in the near future.
Sun is an equity market specialist at Bloomberg in Hong Kong.
www.bloomberg.com/news/articles/2016-08-28/digging-into-china-s-growing-mountain-of-debt

Tatarewicz posted on 2016-09-30 3:12:18 ET Reply Trace Private Reply
#9. To: Tatarewicz (#8)
And China protects it's borders with vengeance.
Why don't they straighten out N. Korea?
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
HAPPY2BME-4UM posted on 2016-09-30 3:29:28 ET Reply Trace Private Reply
#10. To: HAPPY2BME-4UM (#9)
Why don't they straighten out N. Korea?

China, unlike Israel-America, does not meddle in other nation's governance; expects other to keep nose out of China politics.

Tatarewicz posted on 2016-10-01 1:51:22 ET Reply Trace Private Reply
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