Bureau Chief, Vietnam
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Sep 22, 2014

Ultrasonic CEO resurfaces in China, says to return funds

SHANGHAI (Reuters) – The missing chief executive of embattled German-listed Chinese shoe maker Ultrasonic AG has resurfaced in China to deny absconding with millions of dollars of company money, telling local media he had been travelling and lost his phone.

CEO Wu Qingyong, who was dismissed last week after his abrupt disappearance, separately told an Ultrasonic executive he would return to the company and give back any funds, the firm said in a statement on Monday. It added, however, that its supervisory board had been unable to contact Wu directly.

Sep 22, 2014

Ultrasonic CEO resurfaces in China, denies taking money

SHANGHAI, Sept 22 (Reuters) – The missing chief executive of
embattled German-listed Chinese shoe maker Ultrasonic AG
has resurfaced in China to deny absconding with
millions of dollars of company money, telling local media he had
been travelling and lost his phone.

An official in the company’s human resources department told
Reuters by telephone on Monday that CEO Wu Qingyong, who was
dismissed last week after his abrupt disappearance, was in China
and planning to visit the company’s facilities.

Sep 22, 2014

Blasts in China’s Xinjiang kill two; government censures officials

SHANGHAI (Reuters) – Two people were killed and several more injured in at least three explosions in China’s troubled far western region of Xinjiang on Sunday, state media reported, but gave few details.

The blasts came as China punished 17 regional officials and police “for being accountable” for a July 28 attack by masked militants that led to almost 100 deaths of police, officials and civilians, and for the subsequent killing of a pro-Beijing imam.

Sep 22, 2014

Blasts in China’s Xinjiang kill two; govt censures officials

SHANGHAI (Reuters) – Two people were killed and several more injured in at least three explosions in China’s troubled far western region of Xinjiang on Sunday, state media reported, but gave few details.

The blasts came as China punished 17 regional officials and police “for being accountable” for a July 28 attack by masked militants that led to almost 100 deaths of police, officials and civilians, and for the subsequent killing of a pro-Beijing imam.

Jul 28, 2014

Insight – Satellites and seafood: China keeps fishing fleet connected in disputed waters

TANMEN China (Reuters) – On China’s southern Hainan island, a fishing boat captain shows a Reuters reporter around his ageing vessel. He has one high-tech piece of kit, however: a satellite navigation system that gives him a direct link to the Chinese coastguard should he run into bad weather or a Philippine or Vietnamese patrol ship when he’s fishing in the disputed South China Sea.

By the end of last year, China’s homegrown Beidou satellite system had been installed on more than 50,000 Chinese fishing boats, according to official media. On Hainan, China’s gateway to the South China Sea, boat captains have paid no more than 10 percent of the cost. The government has paid the rest.

Jul 27, 2014

Satellites and seafood: China keeps fishing fleet connected in disputed waters

TANMEN China (Reuters) – On China’s southern Hainan island, a fishing boat captain shows a Reuters reporter around his aging vessel. He has one high-tech piece of kit, however: a satellite navigation system that gives him a direct link to the Chinese coastguard should he run into bad weather or a Philippine or Vietnamese patrol ship when he’s fishing in the disputed South China Sea.

By the end of last year, China’s homegrown Beidou satellite system had been installed on more than 50,000 Chinese fishing boats, according to official media. On Hainan, China’s gateway to the South China Sea, boat captains have paid no more than 10 percent of the cost. The government has paid the rest.

Jul 16, 2014

Chinese oil rig moved away from disputed waters off Vietnam

SHANGHAI/HANOI (Reuters) – A Chinese oil rig has finished drilling near the disputed Paracel islands in the South China Sea after finding signs of oil and gas and is being moved away from the area, more than two months after its deployment damaged relations with Hanoi.

The Vietnamese coastguard said the $1-billion rig had been towed from contested waters. China’s official Xinhua news agency said the rig would be relocated off the southernmost island province of Hainan. It gave no timeframe.

Jul 16, 2014

China oil rig finishes exploration in disputed waters off Vietnam

SHANGHAI/HANOI (Reuters) – A Chinese oil rig has finished drilling near the disputed Paracel islands in the South China Sea after finding signs of oil and gas, a top Chinese energy firm said on Wednesday, more than two months after its deployment hurt ties with Vietnam.

Vietnam’s coastguard said the $1 billion deepwater rig was being moved towards China’s southernmost island province of Hainan. China’s official Xinhua news agency said it would be relocated to an area off Hainan but gave no details or a date.

Jul 4, 2014

U.S. ‘concerned’ about being barred from GSK-linked China trial

SHANGHAI (Reuters) – The United States is worried that its officials have been barred from attending the Aug. 7 trial in China of British investigator Peter Humphrey and his American wife Yu Yingzeng after the couple were arrested last year following work they did for British drugmaker GlaxoSmithKline PLC.

The concerns, voiced by the U.S. embassy in Beijing, adds a political dimension to the trial, which could become another thorny issue between the two economic powers, already tussling over areas ranging from cyber security and human rights to Chinese policy in the South China Sea.

Jul 1, 2014

Shanghai trade zone cuts FDI restrictions, but avoids significant changes

SHANGHAI, July 1 (Reuters) – The Shanghai government has
shortened its list of sectors where foreign investment is to be
banned or restricted in the new Shanghai free trade zone (FTZ),
but the changes show only a slight relaxation for foreign
entrance into the Chinese markets.

A comparison shows that the Shanghai municipal government
cut the 2014 “negative list” by 27 percent, to 139 items from
190 items in the one issued last year.