The Chinese Year of the Rooster is fast approaching on Saturday, January 28, 2017. After the antics of the Year of the Monkey, the rooster wakes us up to prepare for fresh challenges that require a quick wit, practical solutions, and persistence.
With theme parks and film, savvy showmen Qiaoling Huang and Wang Jianlin are providing entertainment and spreading Chinese culture at the same time. Huang's Songcheng Group is making its first overseas investment in the $600 million Australia Legend Kingdom. On Australia's Gold Coast, local visitors, the 1.2 million Chinese tourists who spend $8000 per trip, and other international tourists will be able to visit a theme park that features an aboriginal Australian village and the "Mystic Orient," which showcases Chinese and Southeast Asian culture.
Chinese investors have acquired AMC movie theaters and the Legendary Entertainment movie studio in the United States. Wang Jianlin, chairman of the (Dalian) Wanda Group/Wanda Cultural Industry Group, is in the process of developing a state-of-the-art Movie Metropolis Complex and offering up to 40% of production costs to attract filmmakers to Qingdao. China's censorship State Administration of Press Publication, Radio, Film and Television is therefore positioned to counter Western values and to introduce China's core socialist values into films and to influence the culture of global moviegoers.
China's attempt to buy into World-Cup-class soccer (football) suffered an initial setback. According to TIME magazine (Jan. 16, 2017), Christiano Ronaldo, a Real Madrid star, turned down a $314 million offer from a Chinese Super League club. But by 2018, Alibaba had a sports channel streaming soccer. China's HNA Group was one of the sponsors at the French Open tennis tournament May 22 - June 11, 2017.
Chinese culture has no trouble being represented on dinner tables around the world. Begin the Year of the Rooster by dining at a local Chinese restaurant or, with an adult's help, try this recipe at home.
Pineapple Chicken Stir-Fry
Servings: 4
1 Tbsp. vegetable oil
3 boneless, skinless Chicken breast halves, cut in strips
1/2 green or red pepper, thinly sliced
1 can (15.25 oz.) pineapple chunks in their own juice
3/4 cup sauce (1/2 cup soy sauce, 1/4 cup honey, 1/2 tsp ginger)
Hot cooked rice
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1. Heat oil in large skillet over medium-high heat. Add chicken and green pepper, cook and stir 5 to 6 minutes or until chicken is done (no longer pink).
2. Drain pineapple and reserve 2 tablespoons of juice. Combine reserved juice and sauce.
3. Add pineapple chunks and sauce mixture to skillet. Cover and cook 2 minutes or until heated through. Serve over rice.
Showing posts with label Dalian Wanda. Show all posts
Showing posts with label Dalian Wanda. Show all posts
Thursday, January 5, 2017
Friday, September 19, 2014
Let's Visit China
While the world is focused on Scotland's vote to remain in the United Kingdom, the Ebola epidemic in West Africa, and ways to contain the ISIS menace, a number of Chinese developments merit attention.
China's e-commerce platform, Alibaba, raised $25 billion when its shares went on sale September 19, 2014. As with other e-commerce firms, there are charges pending about the lack of sales tax paid on Alibaba purchases, and there is concern about e-commerce sales of counterfeit items. Also, there has been no news about how well China's shipping and delivery network is handling online purchases, a problem that has adversely affected India's e-commerce boom (See the later blog post,"Problems Present Career Opportunities.").
Alibaba was not the only company to enjoy a strong response to its initial stock offering. China's CGN nuclear power group received a similar response when its shares went on sale for the first time in Hong Kong. Yet, in January, 2015, the Chinese residential real estate developer, Kaisa Group Holdings, defaulted on a $128 million payment to foreign investors holding $500 million in bonds promising a 10.25% yield.
Urbanization and higher incomes in China are raising demand for locally produced goods, baby formula, disposable diapers, Western foods (such as cheese and Starbuck's and Costa coffee) and movies. Aiming to expand into the film business, Dalian Wanda, China's fourth richest man, who operates China's largest cinema chain and luxury hotels, is expected to open a major office in Hollywood, where he has shown interest in buying shares in and film collaboration with Hollywood's Lionsgate studio. Jack Ma, executive chairman of Alibaba, also has had discussions with Lionsgate. In 2017, movie box office revenue in China will be $8.6 billion. By then, film studios and movie stars will begin to stash revenue in the Khorgos tax haven on China's far northwestern border with Kazakhstan.
Local governments continue to prop up failing heavy industrial plants, and China's manufacturing sector does not turn down opportunities to produce religious items. Though an atheist country, a Chinese factory has published over 125 million Bibles. Unfettered industrialization continues to cause China problems with pollution. Recent studies show China's population produces more carbon dioxide (CO2) per head than the European Union and U.S. Therefore, it was great news November 12, 2014 to learn that China and the U.S. have signed a pact, however symbolic, to limit carbon emissions. At a dinner and meeting in Beijing's Great Hall of the People during the November 11-12, 2014 Asia-Pacific Economic Cooperation (APEC) summit, both President Obama and President/General Secretary of the Chinese Communist Party, Xi Jinping, stressed peace, prosperity, stability, and a partnership that fosters security in a Pacific Ocean "broad enough to accommodate the development of both China and the United States."
At the end of the APEC summit, after Japan's Prime Minister, Shinzo Abe, and China's President met on November 10, 2014, Abe said he hoped the two countries would talk again and again (a hotline to prevent their vessels from conflict in the East China Sea has been proposed) and that they would work toward a mutually beneficial relationship. Earlier, a Chinese diplomat in Iceland was arrested as a spy for Japan.
Hong Kong tycoons are spending freely. The Chan brothers have donated $350 million to Harvard and expect to make another sizable donation to the University of Southern California. Stephen Hung ordered $20 million worth of Rolls Royces to transport gamblers at his Louis XIII resort in Macao. Nonetheless, Chinese gamblers, who have been staying away from Macao's casinos for fear of being targeted in China's crack down on corruption, have put a big dent in the island's revenue as they try to stay clear of China's anti-graft investigations into the origin of their wealth. Casinos in Cambodia have benefited from this exodus of Chinese gamblers trying to stay under the radar. Macau's investors, on the other hand, are trying to regain visitors by following the Las Vegas model and giving the island a more family-friendly image by adding a $2.3 billion theme park to a new casino.
Despite the use of tear gas and the arrest of a leader of the pro-democracy activists in Hong Kong, which has an almost country-to-country border crossing procedure with mainland China, protests continue to oppose Beijing's attempt to dictate which candidates can run for election in 2017. (See the later blog post, "Hong Kong Update.") Though not secure from authorities, Hong Kong protesters are using the smartphone mobile app, FireChat, to communicate with each other without relying on Internet connections. President Xi believes foreign countries are involved in the protests.
The number of Chinese students, who once made up 33% of international grad students in the U.S., is decreasing. French speaking Chinese students are on their way to former French African countries to work for Chinese companies there. In English-speaking Africa, China is building a $12 billion, 1,400 km railway in Nigeria.
(For more about China, see the earlier blog post, "See the World.")
China's e-commerce platform, Alibaba, raised $25 billion when its shares went on sale September 19, 2014. As with other e-commerce firms, there are charges pending about the lack of sales tax paid on Alibaba purchases, and there is concern about e-commerce sales of counterfeit items. Also, there has been no news about how well China's shipping and delivery network is handling online purchases, a problem that has adversely affected India's e-commerce boom (See the later blog post,"Problems Present Career Opportunities.").
Alibaba was not the only company to enjoy a strong response to its initial stock offering. China's CGN nuclear power group received a similar response when its shares went on sale for the first time in Hong Kong. Yet, in January, 2015, the Chinese residential real estate developer, Kaisa Group Holdings, defaulted on a $128 million payment to foreign investors holding $500 million in bonds promising a 10.25% yield.
Urbanization and higher incomes in China are raising demand for locally produced goods, baby formula, disposable diapers, Western foods (such as cheese and Starbuck's and Costa coffee) and movies. Aiming to expand into the film business, Dalian Wanda, China's fourth richest man, who operates China's largest cinema chain and luxury hotels, is expected to open a major office in Hollywood, where he has shown interest in buying shares in and film collaboration with Hollywood's Lionsgate studio. Jack Ma, executive chairman of Alibaba, also has had discussions with Lionsgate. In 2017, movie box office revenue in China will be $8.6 billion. By then, film studios and movie stars will begin to stash revenue in the Khorgos tax haven on China's far northwestern border with Kazakhstan.
Local governments continue to prop up failing heavy industrial plants, and China's manufacturing sector does not turn down opportunities to produce religious items. Though an atheist country, a Chinese factory has published over 125 million Bibles. Unfettered industrialization continues to cause China problems with pollution. Recent studies show China's population produces more carbon dioxide (CO2) per head than the European Union and U.S. Therefore, it was great news November 12, 2014 to learn that China and the U.S. have signed a pact, however symbolic, to limit carbon emissions. At a dinner and meeting in Beijing's Great Hall of the People during the November 11-12, 2014 Asia-Pacific Economic Cooperation (APEC) summit, both President Obama and President/General Secretary of the Chinese Communist Party, Xi Jinping, stressed peace, prosperity, stability, and a partnership that fosters security in a Pacific Ocean "broad enough to accommodate the development of both China and the United States."
At the end of the APEC summit, after Japan's Prime Minister, Shinzo Abe, and China's President met on November 10, 2014, Abe said he hoped the two countries would talk again and again (a hotline to prevent their vessels from conflict in the East China Sea has been proposed) and that they would work toward a mutually beneficial relationship. Earlier, a Chinese diplomat in Iceland was arrested as a spy for Japan.
Hong Kong tycoons are spending freely. The Chan brothers have donated $350 million to Harvard and expect to make another sizable donation to the University of Southern California. Stephen Hung ordered $20 million worth of Rolls Royces to transport gamblers at his Louis XIII resort in Macao. Nonetheless, Chinese gamblers, who have been staying away from Macao's casinos for fear of being targeted in China's crack down on corruption, have put a big dent in the island's revenue as they try to stay clear of China's anti-graft investigations into the origin of their wealth. Casinos in Cambodia have benefited from this exodus of Chinese gamblers trying to stay under the radar. Macau's investors, on the other hand, are trying to regain visitors by following the Las Vegas model and giving the island a more family-friendly image by adding a $2.3 billion theme park to a new casino.
Despite the use of tear gas and the arrest of a leader of the pro-democracy activists in Hong Kong, which has an almost country-to-country border crossing procedure with mainland China, protests continue to oppose Beijing's attempt to dictate which candidates can run for election in 2017. (See the later blog post, "Hong Kong Update.") Though not secure from authorities, Hong Kong protesters are using the smartphone mobile app, FireChat, to communicate with each other without relying on Internet connections. President Xi believes foreign countries are involved in the protests.
The number of Chinese students, who once made up 33% of international grad students in the U.S., is decreasing. French speaking Chinese students are on their way to former French African countries to work for Chinese companies there. In English-speaking Africa, China is building a $12 billion, 1,400 km railway in Nigeria.
(For more about China, see the earlier blog post, "See the World.")
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