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from Breakingviews:

Hong Kong shouldn’t brush off Shanghai threat

By Ethan Bilby
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Can Shanghai’s new free trade zone knock Hong Kong off its perch? Unless it can copy the Chinese city-state’s highly developed rule of law, it’s unlikely. But Hong Kongers can’t be complacent. Shanghai may yet turn its sights on other things the city-state holds dear – like its low taxes, and luxury-hungry tourists.

Hong Kong billionaire Li Ka-shing is worried, because social tensions in the city state are rising. Dockers at one of Li’s container ports went on strike in March. The populist Occupy movement, fuelled by impatience for democratic reforms and anger over inequality, could damage the city’s business-friendly reputation, just as Shanghai’s starts to improve.

Shanghai’s detractors argue that rule of law matters more. Hong Kong’s transparent, bilingual legal system protects foreign firms, and isn't easily duplicated. Compared with the mainland, the city’s common law courts are transparent and companies expect contracts to be honoured.

from Breakingviews:

Shanghai trade zone may give rest of China a kick

By John Foley

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Shanghai’s new trade zone may be a lab for financial reform. It may be a prop for the city’s flagging economy. Or maybe it will just be fuel for property speculators. In fact, it can be all of these and more. But the real benefits may not be in Shanghai at all.

from Full Focus:

Migrant migration

Photographer Carlos Barria crosses central China on a 50-hour train and bus journey from Shanghai to document one couple's story. The couple, Li Anhua and Shi Huaju, are among millions of Chinese migrant workers who have to leave their loved ones behind to look for a better future for them and their families. Read Carlos's personal account of the journey here.

from Photographers' Blog:

72 hours in Shanghai

By Carlos Barria

Occasionally, along with covering the news stories like the economy, politics, sports and social trends, we (Reuters photographers) have time to do something really fun.

Weeks ago, over a couple of beers, a friend from the BBC had the idea of putting a camera on the hood of a car and shooting a time-lapse sequence for a story he was working on. I’d never done a time-lapse project myself, so when I was asked to come up with an idea for Earth Hour on March 31— when cities across the world switch off their lights at 8:30 pm— my colleague Aly Song and I thought we’d give it a try. We decided to shoot sequences during the three days leading up to Earth Hour, ending with the dimming of the lights in Shanghai’s city center.

from Photographers' Blog:

Swimming in a sea of pictures

Several weeks back I was told I would be having a serious case of the blues for a fortnight - processing pictures of the swimmers, divers and water polo players competing in the FINA World Championships in Shanghai. Pictures from the event would be edited by China chief photographer Petar Kujundzic and sent to me and my colleagues Karishma Singh and Allison Ching in Singapore to process and transmit to clients.

For two weeks, I would be looking at a sea of images where the main color was blue. So it made me nervous whenever I saw my least favorite color - green - appear on skin tones. It took constant communication with the on-site photographers and editor as well as the Picture Desk team here in Singapore, not to mention close scrutiny of the histogram in Photoshop, to ensure the athletes didn't look jaundiced or ill. In fact, correcting the color on pictures taken in the swimming pool in Shanghai was as challenging as it was in Beijing three years ago when I processed aquatics images at the Olympics.

from Russell Boyce:

Asia – A Week in Pictures 31 July 2011

Ramadan started in Asia on Sunday and Indonesia-based photographer Ahmed Yusef produced this beautiful image to mark the start of the most important period in the Muslim calendar. The viewer focuses on the young woman's eyes as the red scarf draws you to her through a sea of swirling white created by a slow exposure. Also in Indonesia, Dwi Oblo's picture draws you into the picture through  light and smoke to evoke a real feeling of people humbling themselves as they pay respects to their dead relatives as they also prepare for Ramadan.

Muslim woman attend mass prayer session "Tarawih", which marks the beginning of the holy fasting month of Ramadan, at Al Markaz Al Islami mosque in Makassar, South Sulawesi July 31, 2011. Muslims around the world abstain from eating, drinking and conducting sexual relations from sunrise to sunset during Ramadan, the holiest month in the Islamic calendar. REUTERS/Ahmad Yusuf 

from Financial Regulatory Forum:

Foreign private equity braces for rough ride to China -ANALYSIS

Helen H. Chan

HONG KONG, May 20 (Business Law Currents) Foreign-invested private equity firms are rallying in Shanghai, eagerly awaiting the results of a second round of applications for the Qualified Foreign Limited Partners (QFLP) scheme. In recent weeks, large international buyout firms such as Blackstone and the Carlyle Group have rejoiced over being some of the first to be awarded a QFLP license.

Although the QFLP seems to have gone one step further in liberalizing private equity deals between foreign investors and domestic targets, perks of the scheme come with a tangle of very sticky red tape. Recently, financial authorities in Shanghai have published several guidelines to facilitate the second round of approvals for QFLP licenses. Aiming to aid domestic entrepreneurial efforts, the newly-issued requirements appear to favor applicants with connections to government-backed funds and homegrown Chinese enterprises.

from George Chen:

What happened to B shares?

By George Chen
The opinions expressed are the author’s own.

Few people outside of China really know what B shares are.

“B shares? Does that mean they are not as good as A shares?” That’s a typical question I hear from foreign friends when they first come to the mainland market and by chance learn some buzz about the B-share index.

B shares probably only attract public attention when trading gets excitable, as is the case now. The U.S. dollar-denominated B shares index sank more than 7 percent at one point on Thursday after ending down more than  5 percent on Wednesday.

from George Chen:

Where China traders meet

IPOBy George Chen
The opinions expressed are the author’s own.

My readers on Reuters.com know me as a columnist who regularly writes about China and I also run a Chinese-language column, Mr. Shangkong, about Shanghai where I was born and Hong Kong where I call home now, on Reuters.com.cn, the China portal.

In fact, my day job is not just about writing columns but more about Trading China, a young and energetic Thomson Reuters project. It's a public holiday in China today and the markets are relatively quiet, so I'd like to share something different in today's column as I want to talk a bit about Trading China, which comprises Carmen, Joseph and myself.

from George Chen:

My Shanghai holiday

food

By George Chen
The opinions expressed are the author’s own.

While Chinese lawmakers gathered in Beijing for the annual parliamentary meeting, I returned to my hometown Shanghai for a holiday.

The  lawmakers are keen to discuss China's macroeconomic matters these days, but I am more interested in being a microeconomic observer. For example, how much does an apple cost in Shanghai these days?

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