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Seismic shift indeed. :enjoy:

I remember when the Yuan was 8 to the dollar, not that long ago. It jumped in value quite a lot over the years.

I wonder how it will do, once our currency reforms are completed in a few years time? Along with our capital account reforms, it will be hard to hold on to the value of the Yuan, it might go up a lot. Which is good news for our imports and consumption, and should be OK for our exporters too if the changes come slowly, giving them time to adapt. Our nominal GDP will probably soar as well, since that is based on the dollar.

It will significantly boost our buying power overseas, and will boost the status of the RMB as a global currency. Both of which are very important to further our economic influence in the world.

I guess, as China's manufacturing shifts to more high-end production, the rising Remninbi will have less and less impact snce most of the input into the production will be acquired from national sources.
 
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The upward trend has pushed the increasingly popular currency to its highest level since March 2014.

The Yuan is going up, and our exports are still soaring. :P


China’s July Exports Rise 14.5% on Year - Businessweek

We just reported a record trade surplus:

China Reports Record Trade Surplus - Bloomberg

And China's manufacturing growth is currently at a 2-year high:

BBC News - China manufacturing growth speeds up

China's factory activity grew at its fastest pace in more than two years in July, indicating that the country's economy may be stabilising.


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I guess, as China's manufacturing shifts to more high-end production, the rising Remninbi will have less and less impact snce most of the input into the production will be acquired from national sources.

Yes, in fact it might even benefit us, depending on the situation.

I am confident that Chinese exporters are competitive enough to weather any increased currency fluctuation.
 
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Cowin Auto plans to develop connected car with Xiaomi and Baidu

Staff Reporter

2014-08-13

browse.php

A model poses with a car from Cowin Auto's parent company Chery at a Beijing auto show, July 15, 2013. (Photo/Xinhua)

New Chinese car brand Cowin Auto is looking to develop smart and connected passenger vehicles with smartphone maker Xiaomi and internet search giant Baidu, reports the Guangzhou-based 21st Century Business Herald.

Cowin, which is scheduled for its official debut at the Chengdu Auto Show in September, is a spin-off company of Chery Automobile, a state-owned carmaker based in the city of Wuhu in northern China's Anhui province.

Chery owns 50% of Cowin, which was established last year when Chery founder and deputy managing director Lu Jianhui branched off with a team of 200 workers. The name Cowin was formerly a sub-brand under Chery that focused on making cheap vehicles for young drivers, but it is now developing new vehicles from scratch.

Sources close to Cowin said that the company is in talks to co-invest in a connected car research lab with Xiaomi, one of China's biggest private smartphone developers, and Baidu, the search engine giant known as "the Google of China." The goal is to produce an affordable car that appeals to the electronics- and smartphone-obsessed 20-32 age group.

While connected cars are still largely conceptual at this stage, they are defined by technology that can connect to the internet, wireless local area networks and smartphones to provide additional benefits to drivers, such as automatic notifications of speed, safety alerts and traffic conditions, as well as remote activation and control of car functions.

In an online post on Aug. 10, Cowin deputy general manager Zheng Zhaorui hinted at the possibilities of the smart and connected passenger vehicle Cowin aimed to develop, including the ability to unlock the car through palm identification on windows, an intelligent operating system with a virtual dashboard, and simulation games.


Cowin has also confirmed that its first vehicle with an intelligent operating system will be an Italian-designed SUV, scheduled for release at the end of 2015.

Cowin's plans to build a connected car come hot on the heels of an announcement by e-commerce giant Alibaba that it has signed a strategic alliance with Shanghai Automotive Industry Corporation to launch a car with an entire internet-connected mobile smart ecosystem within the next three years.
 
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West African countries, need more help, hope the international community will increase aid efforts
 
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LOL don't think I never ate pho before. I often eat, but it really sucks, compared to Chinese rice noodles. There is better Vietnam food.
ok, how about these dishes?
the best of both worlds: Vietnam and China

8 Incredible Vietnamese Noodle Soups That Everyone Should Try
While the most popular, phở is far from the only noodle soup available in Saigon. Some of the city’s best soups are made with yellow noodles () which originated in China and are used in a number of delicious creations. Here are some places in Saigon that offer an alternative to overrated phở restaurants.

Pork Ribs or Chicken Slow-Cooked Noodle Soup (Mì Sườn Kho, Mì Gà Quay)
8mhz7tS.jpg

Photo via Justsimpleeat.

This thick stew features delicious pork ribs that are simmered until they’re tender and infused with flavor. If pork isn't your thing, try the crispy roasted chicken version (pictured below).

You can find this soup at Tâm Ký noodle shop – 280 Nguyễn Thiện Thuật, District 3.

HsqKtDP.jpg

Photo via
Tastilicious.


Phúc Kiến Style Noodle Soup (Mì Phúc Kiến)
1lo0qf6.jpg

Photo via
Gocamthuc.

This soup mixes 2 kinds of noodles together – thin white (bún) and Phúc Kiến’s round yellow () noodles, which resemble spaghetti. While somewhat rare in Vietnam, this noodle style is enjoyed by many, especially those of Chinese heritage. The soup is topped with delicious, deep-fried shrimp and crispy crackers.

Though it seems to be getting harder to find, you can find a bowl at a quiet corner of the food court in District 5’s Bình Tây market.

Pickled Bean Sprout Noodle Soup (Mì Cải Chua)
uilfZ7S.jpg

Photo via tlnet.

While its base is comprised of Chinese-style noodles, it has a decidedly southern Vietnamese taste, courtesy of pickled onions and bean sprouts which balance the dish’s oily flavor.

A small noodle shop serves this dish at 311/3 Minh Phụng, W.2, District 11.


Fish Ball Curry Noodle Soup (Mì Cá Viên Càri)
5tTjlkw.jpg

Photo via Theramenrater.

A small noodle cart located at the intersection of Nguyễn Trãi and Trần Phú in District 5 is said to be the only place serving this style of curry-style noodle soup in Saigon. Even those who aren’t a fan of fish balls should make an exception for this spicy soup.



Pig’s Kidney Noodle Soup (Mì Cật)
yMxhzOr.jpg

Photo via
Webtretho.

It might not sound tempting to those who don’t fancy the unique smell and texture of organs, but a noodle shop at 62 Trương Định, District 1 may change your tune. The kidney is processed to get rid of the smell and is further tamed with a spicy saté sauce.


Thread Noodle Soup (Mì Chỉ Cá)
2JVgui5.jpg

Photo via Thegioif5.

This interestingly named soup is comprised of rice flour noodles that are shredded thinly, to the point where each noodle looks like a strand of thread.

The soup, available at 243 Cao Văn Lầu in District 6, is served with a kind of fish called cá gộc which makes for a nice alternative to the meaty soups on this list.

Wanton Noodle Soup (Mì Sủi Cảo)
Q5Zu8w0.jpg

Photo via
Tyneesoup.

Hà Tôn Quyền Street in District 5 is the Mecca for this popular noodle soup. You can customize your bowl with squid, fish balls, tofu, wanton and vegetables or just put everything in together.


Char Siu Noodle Soup (Mì Xá Xíu)
BwPyfVn.jpg

Photo via
Wikipedia.

Char siu, aka BBQ meat, appears frequently in Chinese cuisines and adding it to noodle soup is no exception. Slices of roasted meat are served on top of glistening, fragrantly fresh noodles that can be ordered dry with a bowl of broth or served regularly in soup.

The best place to enjoy a bowl is to go to Saigon’s Chinatown. A noodle shop at 191 Cao Văn Lầu, District 6 is known for serving up some of the city’s best Chinese noodle soups along with other tasty dishes such as beef stew.
 
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Vietnam's northern locality provides rice for Chinese quake victims
bigphoto_tit3_b.gif
bigphoto_tit6_b.gif
English.news.cn | 2014-08-13 18:05:52 | Editor: Fu Peng

HANOI, Aug. 13 (Xinhua) -- Vietnam's northern mountainous Lao Cai province has decided to send 100 tons of rice to support victims of the earthquake in China's Yunnan province.

A report posted on the website of Vietnam's Ministry of Foreign Affairs on Wednesday reads "Arising from the traditional friendship between peoples of the two countries and the two provinces of Lao Cai and Yunnan, on Tuesday, Lao Cai province decided to support 100 tons of rice to share difficulties with victims of the quake."

The quake on Aug. 3, the strongest that hit Yunnan province in 14 years, killed more than 600 people and destroyed 80,000 homes in Ludian and surrounding areas.

After learning that the earthquake in Yunnan province caused heavy losses in human lives and property, General Secretary of Communist Party of Vietnam Nguyen Phu Trong, President Truong Tan Sang, Prime Minister Nguyen Tan Dung, National Assembly Chairman Nguyen Sinh Hung, Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh expressed sympathy to their Chinese counterparts over the tragedy.
 
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ok, how about these dishes?
the best of both worlds: Vietnam and China

8 Incredible Vietnamese Noodle Soups That Everyone Should Try
While the most popular, phở is far from the only noodle soup available in Saigon. Some of the city’s best soups are made with yellow noodles () which originated in China and are used in a number of delicious creations. Here are some places in Saigon that offer an alternative to overrated phở restaurants.

Pork Ribs or Chicken Slow-Cooked Noodle Soup (Mì Sườn Kho, Mì Gà Quay)
8mhz7tS.jpg

Photo via Justsimpleeat.

This thick stew features delicious pork ribs that are simmered until they’re tender and infused with flavor. If pork isn't your thing, try the crispy roasted chicken version (pictured below).

You can find this soup at Tâm Ký noodle shop – 280 Nguyễn Thiện Thuật, District 3.

HsqKtDP.jpg

Photo via
Tastilicious.

Phúc Kiến Style Noodle Soup (Mì Phúc Kiến)
1lo0qf6.jpg

Photo via
Gocamthuc.

This soup mixes 2 kinds of noodles together – thin white (bún) and Phúc Kiến’s round yellow () noodles, which resemble spaghetti. While somewhat rare in Vietnam, this noodle style is enjoyed by many, especially those of Chinese heritage. The soup is topped with delicious, deep-fried shrimp and crispy crackers.

Though it seems to be getting harder to find, you can find a bowl at a quiet corner of the food court in District 5’s Bình Tây market.

Pickled Bean Sprout Noodle Soup (Mì Cải Chua)
uilfZ7S.jpg

Photo via tlnet.

While its base is comprised of Chinese-style noodles, it has a decidedly southern Vietnamese taste, courtesy of pickled onions and bean sprouts which balance the dish’s oily flavor.

A small noodle shop serves this dish at 311/3 Minh Phụng, W.2, District 11.

Fish Ball Curry Noodle Soup (Mì Cá Viên Càri)
5tTjlkw.jpg

Photo via Theramenrater.

A small noodle cart located at the intersection of Nguyễn Trãi and Trần Phú in District 5 is said to be the only place serving this style of curry-style noodle soup in Saigon. Even those who aren’t a fan of fish balls should make an exception for this spicy soup.



Pig’s Kidney Noodle Soup (Mì Cật)
yMxhzOr.jpg

Photo via
Webtretho.

It might not sound tempting to those who don’t fancy the unique smell and texture of organs, but a noodle shop at 62 Trương Định, District 1 may change your tune. The kidney is processed to get rid of the smell and is further tamed with a spicy saté sauce.

Thread Noodle Soup (Mì Chỉ Cá)
2JVgui5.jpg

Photo via Thegioif5.

This interestingly named soup is comprised of rice flour noodles that are shredded thinly, to the point where each noodle looks like a strand of thread.

The soup, available at 243 Cao Văn Lầu in District 6, is served with a kind of fish called cá gộc which makes for a nice alternative to the meaty soups on this list.

Wanton Noodle Soup (Mì Sủi Cảo)
Q5Zu8w0.jpg

Photo via
Tyneesoup.

Hà Tôn Quyền Street in District 5 is the Mecca for this popular noodle soup. You can customize your bowl with squid, fish balls, tofu, wanton and vegetables or just put everything in together.

Char Siu Noodle Soup (Mì Xá Xíu)
BwPyfVn.jpg

Photo via
Wikipedia.

Char siu, aka BBQ meat, appears frequently in Chinese cuisines and adding it to noodle soup is no exception. Slices of roasted meat are served on top of glistening, fragrantly fresh noodles that can be ordered dry with a bowl of broth or served regularly in soup.

The best place to enjoy a bowl is to go to Saigon’s Chinatown. A noodle shop at 191 Cao Văn Lầu, District 6 is known for serving up some of the city’s best Chinese noodle soups along with other tasty dishes such as beef stew.

Yummy! Especially the second one, is that chicken? And the seafood one.
 
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Yummy! Especially the second one, is that chicken? And the seafood one.
no, it is roasted duck with fujian yellow noodles.
HsqKtDP.jpg


@Viet

20130118_132442_zps149f6261.jpg


20130128_180630_zps4e8fbdaf.jpg


This is what I ate in a restaurant called pho que huong
Pho Que Huong | Noodle & Grill | Vietnamese Restaurant - HOME
that is "bun thich nuong", grilled meat with noodle. yes, it is very delicious. are you in Texas?

have you ever tried "pho" in a restaurant of Pho 24 chain? I find them ok, somewhat better than some pho restaurants.
they become increasingly popular in overseas (also available in Macau and HongKong) and Vietnam. Like McDonalds´s.
2AE-thuonghieu1.jpeg
 
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no, it is roasted duck with fujian yellow noodles.
HsqKtDP.jpg



that is "bun thich nuong", grilled meat with noodle. yes, it is very delicious.

have you ever tried "pho" in a restaurant of Pho 24 chain? I find them ok, somewhat better than some pho restaurant.
they become increasingly popular in overseas and Vietnam. Like McDonalds´s.
2AE-thuonghieu1.jpeg

:lol:



small bowl for 38 dung, and big bowl for 49 dung? Looks great. This restaurant is not opening in the US, but Hong Kong has it, probably next time could try it when in HK.
 
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:lol:

small bowl for 38 dung, and big bowl for 49 dung? Looks great. This restaurant was not opening in the US, but Hong Kong has it, probably next time could try it when in HK.
yes, it is cheaper, fresher and tastes better than at McDonalds.
If you dare, you can order a "special" pho or pho dac biet, that is some goodies inside. you will be surprised.
 
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BN-EB378_CHFORL_G_20140811231833.jpg


New disclosures from two of Asia’s largest lenders provide a glimpse of global banks’ rising exposure to China’s fast-growing foreign debt.

HSBC Holdings PLC said in its latest financial report that outstanding loans in China grew 12% in the year ended June 30, to $36.2 billion. Standard Chartered PLC said in its interim statement for the same period that its overall exposure to Chinese customers rose 30% to $58.3 billion.

Both disclosures offer insight into a recent surge in foreign lending to China as tighter lending conditions there and low global interest rates push more Chinese companies to borrow offshore. According to the latest data from the Bank for International Settlements, outstanding foreign loans to China rose 38% on year in the first quarter of 2014 to a record $795.7 billion, a fourfold increase since 2010.

Of the 25 countries whose banks report lending data to BIS, the biggest surge in new loans in the year ended March 31 — $50 billion — came from banks based in the United Kingdom, a group that includes HSBC and Standard Chartered, both British-domiciled banks with most of their assets in Asia. French banks were the second-largest source of new credit, extending $20.6 billion in new loans to China. Japanese banks were third, raising their exposure by $15.8 billion over the same period.

The rapid growth in credit to China left British banks as China’s largest foreign lenders, with a record $221.2 billion in outstanding loans to China. U.S. banks were second with a record $86.5 billion and Japanese banks third, with a record $77.4 billion.

China’s overall external borrowing remains relatively small and economists say it poses little threat to its economy or financial system. With nearly $4 trillion in foreign-exchange reserves and tight control over flows of money in and out of the country, China’s central bank is in a strong position to offset any sudden retreat of foreign credit, they say.

BN-EB383_CHNEWL_G_20140811234851.jpg


Still, the rapid increase in borrowing has boosted China’s vulnerability to global capital flows and economists warn that an anticipated rise in global interest rates could lure funds back out of China, raising borrowing costs and pushing heavily indebted borrowers toward default.

The run-up in lending to China by Hong Kong-based banks has prompted the local monetary authority to demand more robust funding requirements. Outstanding loans from Hong Kong-based institutions to China, including units of foreign banks, grew 8% on year in the first quarter to $317 billion, according to the Hong Kong Monetary Authority.

Reconciling all this lending data is impossible since they cover different periods and capture different types of lending. BIS doesn’t break down lending by individual banks, only by nationality. Few banks disclose where they lend, and HSBC and Standard Chartered’s China numbers are not identical measures.

Standard Chartered’s is a more comprehensive measure of its exposure. Standard Chartered said credit to China-based customers account for slightly more than 8% of the bank’s $690.1 billion in total assets, according to its interim financial report. Of that exposure, which includes loans issued to Chinese customers outside China, 74% are less-risky short-term loans that mature in one year or less, mostly trade finance loans or loans to China’s banks.

“We are comfortable on China asset quality; our exposures are predominantly short-dated to the Top 5 Chinese Banks and we have fine-tuned the portfolio following stress testing,” Standard Chartered spokesman Shaun Gamble wrote in an email. “Our exposure is largely to investment grade clients, whom we expect will weather an economic slowdown.”

Still, Standard Chartered said it took a $175 million impairment charge in connection with a commodities fraud scandal in China. The bank last month began legal proceedings in Hong Kong against the head of a Chinese commodities-trading firm that Western bankers allege illegally pledged the same stocks of commodities multiple times as collateral to get loans. The bank said it had $62 million in commodities-backed loans.

HSBC said its number doesn’t include loans made outside China to Chinese borrowers, only those issued by its branches in China. Those loans represent just over 1% of its $2.75 trillion in global assets. And of that $36.2 billion in loans, $24.3 billion are commercial or trade-related loans. Only $11.7 billion are mortgages or property-related lending.

Who’s Most Vulnerable? A Look at Chinese Borrowing Overseas - China Real Time Report - WSJ
 
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Vietnam's northern locality provides rice for Chinese quake victims
bigphoto_tit3_b.gif
bigphoto_tit6_b.gif
English.news.cn | 2014-08-13 18:05:52 | Editor: Fu Peng

HANOI, Aug. 13 (Xinhua) -- Vietnam's northern mountainous Lao Cai province has decided to send 100 tons of rice to support victims of the earthquake in China's Yunnan province.

A report posted on the website of Vietnam's Ministry of Foreign Affairs on Wednesday reads "Arising from the traditional friendship between peoples of the two countries and the two provinces of Lao Cai and Yunnan, on Tuesday, Lao Cai province decided to support 100 tons of rice to share difficulties with victims of the quake."

The quake on Aug. 3, the strongest that hit Yunnan province in 14 years, killed more than 600 people and destroyed 80,000 homes in Ludian and surrounding areas.

After learning that the earthquake in Yunnan province caused heavy losses in human lives and property, General Secretary of Communist Party of Vietnam Nguyen Phu Trong, President Truong Tan Sang, Prime Minister Nguyen Tan Dung, National Assembly Chairman Nguyen Sinh Hung, Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh expressed sympathy to their Chinese counterparts over the tragedy.

Respect. Much appreciated! Thank you, people of Lao Cai province!
 
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Security concerns boost local phone sales

Civil servants turn to domestic brands for encryption services

Chinese government officials are switching to domestic smartphones with encrypted communications in the wake of security concerns surrounding foreign produced devices like Apple iPhones.

Sales of local smartphone brands with encryption features have increased since last month, when Apple was revealed to have intentionally installed security backdoors in some 600 million iOS devices that offer surveillance-level access to data including photos, browsing history and GPS locations.

This has sparked fear among Chinese smartphone users, especially those who work in the government, where security is their top concern.

A mobile industry insider said there has been an increase in the amount of encrypted smartphone orders civil servants have placed to local phone companies since last month.

"About 500 to 1,000 [such] phones are purchased from Shenzhen to be sent to Shanghai in a single order every time Shanghai is out of stock," the insider told the Shanghai Morning Post.

A Shanghai government official admitted to the Post he switched to a domestically produced encrypted phone because of his need for higher security protection.

"I often get access to internal documents and sensitive economic data at work," said the official.

"If my phone is tapped or the data is leaked through security backdoors, it may lead to a leakage of information about government policies," the official added.

Apple is not the only mobile phone company losing public interest. Samsung's China smartphone sales decreased to 13.2 million units from 15.5 million a year earlier during the April-June period.

Local brands have benefited from the decline. Xiaomi became China's top-selling smartphone brand in the second quarter this year, selling 15 million smartphones in China, surpassing foreign mobile giants like Samsung and Apple, according to market research company Canalys.

Coolpad has recently launched the first batch of 4G smartphones that come with encryption approved by the government.

"Our main customers are corporate leaders and government officials," a spokesman for Coolpad told the Global Times.

The spokesman said around 40,000 encrypted smartphones were purchased by Shanghai police officers on duty during the 2012 Shanghai World Expo. Hunan police and the Aviation Industry Corporation of China are also using smartphones with an encryption service.

A civil servant who works in a department of the Shanghai municipal government told the Global Times that all staff members in his department switched to domestic encrypted phones three years ago.

Wang Yanhui, secretary-general of the Mobile China Alliance, said the trend implies a crisis of confidence towards foreign brands.

"The technology and operating systems used by domestic and foreign phones are very similar, but what puts the foreign brands at a disadvantage is a lack of trust by the government," Wang told the Global Times. "Domestic phone companies are stronger in terms of understanding and catering to the Chinese government's need in terms of security."



 
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