Power Still Lies With the Party

choi

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Mure Dickie, China Mobile Shows Power Still Lies With the Party. Financial Times, July 6, 2011
http://www.ft.com/cms/s/0/3e14aa0a-a729-11e0-b6d4-00144feabdc0.html

Quote:

"In a terse notice last week the listed company revealed that Mr Wang [Jianzhou] had been replaced as secretary of the Communist party committee at the state-owned parent company by Xi Guohua, former vice-minister for information technology.

"As party secretary, Mr Xi – who was also named vice-chairman of the parent company and can expect the same role at the listed company after a discreet interval – now outranks his putative boss when it comes to such crucial issues as senior management appointments.

"Even Mr Wang was apparently given no notice of a 2004 reshuffle that saw him suddenly transferred to leadership of China Mobile from running its wireless arch-rival, China Unicom. Such secrecy and surprise helps to keep cadres on their toes while reminding domestic audiences that the party is in charge. But it makes life tough for investors and analysts.

My comment:
(a) It is sad. If CCP rather than shareholders is teh constituency of a Chinese CEO, who is not working for a state-owned enterrise, how can he, the CEO, be expected to work tail off to maximize shareholders' profits?
(b) BBC summarizes the report as:
英媒：中国移动显示权力仍然属于党
http://www.bbc.co.uk/zhongwen/simp/chinese_news/2011/07/110706_ft_china_partypower.shtml
(《金融时报》周三（7月6日）"报道说上周中国移动突然宣布奚国华出任这个世界最大移动电话公司的党组书记、副董事长，而中国移动的董事长王建宙不再兼任党组书记职务 * * * 王建宙2004年走马上任中国移动时也同样没有任何预先的通知")


-----------------------------Separately
(1) 淡马锡减持中国两大银行股避风险. BBC Chinese, July 6, 2011
http://www.bbc.co.uk/zhongwen/simp/business/2011/07/110706_temasek_china_banks.shtml
(中国银行和中国建设银行)

Note: "Temasek Holdings is an investment company owned by the government of Singapore." Wikipedia

* Temasek
http://en.wikipedia.org/wiki/Temasek
(Temasek ('Sea Town' in Old Javanese, spelt Tumasik) was the name of an early city on the site of modern Singapore. From the 14th century, the island has also been known as Singapura, which is derived from Sanskrit and means "Lion City". Legend has it that the name was given by Sang Nila Utama when he visited the island in 1299 and saw an unknown creature, which he mistook as a lion)

(2) 澳大利亚将逐渐停止对中国印度援助. BBC Chinese, July 6, 2011.
http://www.bbc.co.uk/zhongwen/simp/world/2011/07/110706_australia_china_india.shtml

Note: Tim Lester, FOREIGN AID Spending on China and India to be phased out. The Age, July 6, 2011
http://www.theage.com.au/national/foreign-aid-spending-on-china-and-india-to-be-phased-out-20110705-1h0r9.html

Quote:

"India even requested an end to Australian aid, even though it remains home to hundreds of millions of the world's poorest people.

"In 2009-10, India received $20.5 million in Australian aid. China received $41.1 million.

"Despite their size, both nations have been small recipients of Australian help compared with Papua New Guinea, which received $450 million

(3) Jim Gomez, Filipino officials ban Chinese diplomat amid spat. Associated Press, July 5, 2011.
http://hosted2.ap.org/COGRA/APWorldNews/Article_2011-07-05-AS-Philippines-China-Disputed-Islands/id-c3f73810c53a42ab96578379920c35fe

Note: The report is translated:
中国驻菲律宾外交官被指无礼. BBC Chinese, July 6, 2011
http://www.bbc.co.uk/zhongwen/simp/world/2011/07/110706_philipines_china_diplomat.shtml
("菲律宾外交部周二（7月5日）指称中国驻菲大使馆政务一秘李永胜在外交场合无礼并禁止他参加今后的南沙会议")

(4) 达赖喇嘛在华盛顿庆祝76岁生日. BBC Chinese, July 6, 2011.
http://www.bbc.co.uk/zhongwen/simp/chinese_news/2011/07/110706_us_china_tibet_dalailama.shtml

(5) 丽兹·里奥纳德, 记者来鸿：村里来了外国人! BBC Chinese, July 6, 2011
http://www.bbc.co.uk/zhongwen/simp/fooc/2011/07/110706_fooc_ruralchina.shtml
("这一次，我们是在中国乡下一个小村子里。小村子距离河北省的古城邯郸不远。 * * 我们到小村来，是要参观这里的蔺相如庙。蔺相如是村子养育出的最著名的一个儿子")

My comment: I fail to find the presumptive English-language original.

(6) 中美俄争夺世界最大煤矿，中国成最大赢家. VOA Chinese, July 6, 2011
http://www.voanews.com/chinese/news/20110706-China-Wins-Bulk-of-Mongolia-Coal-Project-125093524.html
("星期三，蒙古宣布了世界上最大的炼焦煤田之一的塔班陶勒盖(Tavan Tolgoi)煤矿西区项目的开采权胜出者，其中中国煤企神华公司将获得40%的股权，一个俄罗斯-蒙古联合财团将获得36%股权，美国的皮博地能源公司(Peabody)将获得剩余的24%")

(7) 中国公司要求CNN为诋毁皮蛋而道歉. VOA Chinese, July 6, 2011.
http://www.voanews.com/chinese/news/20110706-CHINA-US-EGG-125062714.html

Note: The report cites

iReport: The Most 'Revolting' Food I've Had Is...; iReporters describe their most challenging dining experiences -- eating worms, chips made of mold and more. CNN, June 28, 2011
http://www.cnngo.com/explorations/eat/ireport-most-disgusting-foods-world-053021
(No "1. Century eggs, China")

(8) James R Haggerty, Caterpillar Trails in China; Smaller Japanese rival Komatsu Is racking up higher sales in crucial market. Wall Street Journal, July 6, 2011
http://online.wsj.com/article/SB10001424052702304803104576427751467577740.html

Note:
(a) Caterpillar Inc.
http://en.wikipedia.org/wiki/Caterpillar_Inc.
(Caterpillar Inc. traces its origins to the 1925 merger of the Holt Manufacturing Company and the C. L. Best Tractor Company; based in  Peoria, Illinois; section 1.1 Origin of Caterpillar name)
(b) Komatsu Limited
http://en.wikipedia.org/wiki/Komatsu_Limited
(株式会社小松製作所; Its name was taken after the current city of Komatsu, Ishikawa at the company's foundation there in 1917)
--