China Specialist Correspondent
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Apr 29, 2015

China trainmakers seek control of Bombardier’s rail unit: sources

By Benjamin Kang Lim and Matthew Miller

BEIJING(Reuters) – China’s top two trainmakers have been in discussions with Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) about possibly buying a controlling stake in the Canadian company’s railway unit, two sources with direct knowledge of the matter said.

China CNR Corp Ltd (601299.SS: Quote, Profile, Research, Stock Buzz) and state-owned CSR Corp Ltd (601766.SS: Quote, Profile, Research, Stock Buzz), now in the process of merging to create the world’s biggest railway company, are exploring a stake purchase of the Bombardier unit, complementing China’s plan to sell its high-speed rail technology abroad, the sources said.

Apr 29, 2015

China trainmakers seek controlling stake in Bombardier-sources

* CNR, CSR have been in contact with Bombardier – sources

* China seeking foreign access for its high-speed
trains-sources

* Bid may face political opposition in Canada as elections
near

By Benjamin Kang Lim and Matthew Miller

BEIJING, April 29(Reuters) – China’s top two trainmakers
have been in discussions with Bombardier Inc about
possibly buying a controlling stake in the Canadian company’s
railway unit, two sources with direct knowledge of the matter
said.

China CNR Corp Ltd and state-owned CSR Corp Ltd
, now in the process of merging to create the world’s
biggest railway company, are exploring a stake purchase of the
Bombardier unit, complementing China’s plan to sell its
high-speed rail technology abroad, the sources said.

Apr 15, 2015

Exclusive: China ex-security chief warned Bo Xilai he would be ousted – sources

BEIJING (Reuters) – China has charged former domestic security chief Zhou Yongkang with leaking state secrets because he warned political ally Bo Xilai in 2012 that Bo was about to be ousted, a crime that can be punishable by death, sources told Reuters.

Although prosecutors charged Zhou on April 3 with intentional disclosure of state secrets, the link to Bo has not previously been made public. Bo, a charismatic politician and one-time rising star within the ruling Communist Party, was jailed for corruption and abuse of power in 2013.

Mar 16, 2015

China investigates auto executive, Yunnan official for graft

BEIJING (Reuters) – The chairman of one of China’s top state-owned automakers, FAW Group Corp, and a senior provincial official are being investigated for “violating party discipline”, the Communist Party said on Sunday, employing its usual euphemism for corruption.

After taking over as party and military chief in late 2012, President Xi Jinping declared war on corruption at all levels in China, vowing to go after powerful “tigers” and lowly “flies”. Scores of senior officials have been brought down by the campaign, including former security tzar Zhou Yongkang.

Mar 3, 2015

Exclusive: China investigates second top officer for graft – sources

BEIJING (Reuters) – China is investigating a second former top military officer on suspicion of corruption, two independent sources told Reuters, as President Xi Jinping widens his campaign against deep-rooted graft in the country.

Guo Boxiong, 72, was a vice chairman of the powerful Central Military Commission until he stepped down in 2012. Another former vice chairman, Xu Caihou, was put under investigation last year for corruption.

Feb 13, 2015

With eye on Japan, China plans big military parades under Xi: sources

BEIJING (Reuters) – Chinese troops are rehearsing for a major parade in September where the People’s Liberation Army (PLA) is expected to unveil new homegrown weapons in the first of a series of public displays of military might planned during President Xi Jinping’s tenure, sources said.

China will hold up to four PLA parades in the coming years in the face of what Beijing sees as a more assertive Japan under Prime Minister Shinzo Abe, who wants to ease the fetters imposed on Tokyo’s defense policy by a post-war, pacifist constitution.

Dec 30, 2014

Exclusive: Former China president Hu approved probe into aide – sources

BEIJING (Reuters) – Chinese President Xi Jinping secured the blessing of his still influential predecessor, Hu Jintao, before launching a corruption probe against a former senior aide to Hu – a sign that internal Communist Party harmony and respect for elders still holds sway in Xi’s historic crackdown on official graft.

Hu signed off on the probe into disgraced former aide Ling Jihua, who is suspected of trying to cover up his son’s death in a luxury sports car crash two years ago, people with ties to the leadership said.

Dec 24, 2014

Scrutinized officials frozen in headlights of anti-graft campaign

HONG KONG/BEIJING (Reuters) – The sustained scrutiny of Chinese President Xi Jinping’s anti-corruption campaign has been traumatic for many Communist Party and government officials who have grown rich on their power to dispense favours. With so much attention on their lifestyles, spending, travel, entertainment and networks of friends and colleagues, many have decided the safest course is to avoid making decisions or seek early retirement, say people familiar with the probes.

“Government officials are feeling insecure,” says Bo Zhiyue, senior research fellow at the East Asian Institute of the National University of Singapore. “It has also fueled mistrust among officials. They report on each other.”

Dec 22, 2014

China probes former senior aide to Hu Jintao over graft

BEIJING (Reuters) – China’s ruling Communist Party announced a corruption investigation into a one-time senior aide to former president Hu Jintao on Monday, as President Xi Jinping opens another front in his sweeping battle against deep-rooted graft.

In a terse and brief statement on its website, the party’s anti-corruption watchdog said that Ling Jihua was being investigated for “suspected serious discipline violations”, the usual euphemism for graft. It gave no other details.

Nov 11, 2014

Beijing, Philippines move to calm South China Sea tensions

BEIJING, Nov 11 (Reuters) – Philippine President Benigno
Aquino said he and Chinese counterpart Xi Jinping had a “meeting
of minds” on Tuesday during talks which included a territorial
row that has soured relations between the South China Sea
states.

The Philippines is in dispute with China over parts of the
sea including the Scarborough Shoal, an area believed to be rich
in oil and natural gas as well as fisheries resources.

    • About Benjamin

      "Ben is based in Beijing and covers China regulatory news. He is an ethnic Chinese born and raised in the Philippines, and spent 13 years in Beijing and 15 years in Taipei. He joined Reuters in 1991, serving as Beijing bureau chief from August 2008 to August 2010 and Taipei bureau chief from February 2000 to December 2002."
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