Chinese Stocks to Extend Slump, Mizuho Securities Says: Technical Analysis - Bloomberg

Enlarge image The MSCI China Index has tumbled 25 percent this year as the Chinese government stepped up measures to cool inflation that’s at the highest level in almost three years.

The MSCI China Index has tumbled 25 percent this year as the Chinese government stepped up measures to cool inflation that’s at the highest level in almost three years. Photographer: Qilai Shen/Bloomberg

Sept. 19 (Bloomberg) -- Todd Martin, an Asia equity strategist at Societe General SA, talks about regional stocks. Martin speaks from Hong Kong with Owen Thomas on Bloomberg Television's "First Look". (Source: Bloomberg)

Chinese stocks, as measured by the MSCI China (MXCN) Index, may extend a slump that has made the nation’s equities the worst-performing among the so-called BRIC nations, according to technical analysis by Mizuho Securities Asia Ltd.

The MSCI China, which mostly tracks Hong Kong-traded shares of Chinese companies, slid 6 percent yesterday to 50.12. The gauge may fall to between 36 and 45 “to complete the bear market,” Chris Roberts, a Hong Kong-based technical analyst, wrote in a Sept. 22 report. The index’s moving average convergence/divergence indicator, or MACD, had fallen below zero, which is “normally bearish,” the report said.

“Given that for the past four years the October-November period has either marked a top or a bottom, we would be alert for at least an intermediate low in that time frame,” the report said. Mizuho will “most likely” recommend investors keep an “underweight” weighting on the MSCI China when it issues its next report in October, Roberts wrote.

The MSCI China Index has tumbled 25 percent this year as the Chinese government stepped up measures to cool inflation that’s at the highest level in almost three years. The Hang Seng China Enterprises Index, which tracks 40 companies traded in Hong Kong, sank 28 percent.

Benchmark indexes in Brazil, Russia and India have fallen between 18 percent and 23 percent this year. China’s Shanghai Composite Index, which is largely restricted to domestic investors, has slumped 13 percent in 2011.

China’s stocks may extend declines in the fourth quarter as economic and corporate earnings growth slows and liquidity remains tight, Chen Li, head of China equity strategy at UBS AG, wrote in a report dated Sept. 21. Fourth-quarter profit may drop 7.7 percent from a year earlier as companies clear inventories, hurting margins, the report said.

In technical analysis, investors study charts of trading patterns and prices to predict changes in a security.

To contact the reporter for this story: Darren Boey in Hong Kong at dboey@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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Defunct US satellite crash avoidable: Chinese expert - Xinhua

BEIJING, Sept. 23 (Xinhua) -- A defunct U.S. satellite is expected to crash down to Earth Friday, with nobody knowing where or when exactly it will hit. This was avoidable, a Chinese expert said Thursday.

Pang Zhihao, a researcher from the Chinese Research Institute of Space Technology, told Xinhua that the crash could have been avoided had the satellite been put into a higher orbit, or manipulated to drop in the South Pacific when it had abundant fuel. It would pose no threat to Earth if these measures had been taken.

NASA's tumbling, 5,900 kg Upper Atmosphere Research Satellite, or UARS, is the first of such man-made space vehicles that have been launched into outer space according to the agency's Mission to Planet Earth. The mission was launched in the 1990s.

The mission is designed to provide data for better understanding Earth's upper atmosphere and the effects of natural and human interactions on the atmosphere.

The satellite was deactivated in 2005 as it ran out of fuel and was left orbiting Earth like a big piece of space junk.

There are other cases of defunct satellites. The European Space Agency said earlier its observation satellite ERS-2 has run out of fuel and is deorbiting. It would therefore also crash sooner or later.

Pang said all countries which are operating space vehicles should take care of their own spacecrafts so that they won't pose any danger.

The expert also said that the public need not worry too much.

Pang said most spacecrafts will be incinerated upon re-entering Earth's atmosphere, and the debris will mostly likely fall into the ocean or hit an uninhabited area. In addition, a debris tracker is able to give a comparatively accurate prediction where the craft will fall about two hours before it hits Earth, giving residents, if there are any, time to evacuate.

He added that there are several ways to minimize the threat of decommissioned spacecrafts, like putting them into higher orbits and crashing them into designated waters.

Scientific progress would possibly bring about more ways of dealing with tumbling satellites. Scientists have already been trying to build spacecrafts with degradable materials so that they can self-destruct when re-entering Earth's atmosphere.

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New bill targeting Chinese currency manipulation introduced in Senate - Winston-Salem Journal

By: RICHARD CRAVER | Winston-Salem Journal
Published: September 23, 2011 »  Comments | Post a Comment

A revised bill targeting the effect of Chinese currency manipulation on the U.S. economy was introduced Thursday in the U.S. Senate.

The Currency Exchange Rate Oversight Reform Act of 2011 drew significant bipartisan support, including from Sens. Richard Burr, R-N.C., and Kay Hagan, D-N.C.

The bill, the latest in a five-year effort focused on the Chinese yuan, is expected to be voted on before year's end.

The bill would instruct the U.S. Commerce Department to consider China's undervalued currency an illegal subsidy. With that designation, U.S. companies on a case-by-case basis could seek relief through compensatory penalties against Chinese imports.

The Senate bill is similar to the Currency Reform for Fair Trade Act reintroduced earlier this year in the U.S. House. Rep. Howard Coble, R-6th, is one of nine North Carolina representatives sponsoring the bill, which was overwhelmingly approved last year.

Both bills face opposition from a large coalition of pro-retail trade groups, including the U.S. Chamber of Commerce.

Currency manipulation remains a hot-button import issue, particularly in the furniture, sock and textile industries.

Some critics say the yuan has been undervalued by as much as 40 percent for the past 10 years, giving Chinese exports a major competitive advantage versus products made in the U.S. and much of the world. Chinese exports to the U.S. in 2010, at $364 billion, were more than four times greater than U.S. exports to China, at $85.7 billion.

The Senate bill would "trigger tough consequences for countries that fail to adopt appropriate policies to eliminate currency misalignment," according to the senators.

The senators cited a national trade study released Tuesday as the primary impetus behind their renewed action.

The Economic Policy Institute reported that U.S. trade with China has cost North Carolina nearly 108,000 jobs, primarily in manufacturing, since 2001. An estimated 2.8 million jobs were affected nationwide.

That includes a combined 22,334 in North Carolina's 5th and 6th congressional districts. The state had five congressional districts listed among the top 34 affected nationwide from 2001 to 2010.

The senators also cited a separate report from the think tank that estimated that if the Chinese yuan and satellite currencies were revalued to a more realistic level, up to 2.25 million jobs could be created through an increase in U.S. gross domestic product.

"The trade deficit we have with China represents a dire threat to our economy and has resulted in fewer American exports and the loss of millions of American manufacturing jobs, including many in North Carolina," Burr said.

"This trade deficit is due, in large part, to China undervaluing its currency, which is an issue we must address in order to re-establish our competitiveness in the global marketplace."

Hagan said China "has been playing games with its currency and we all know it. It is time to get tough."

rcraver@wsjournal.com (336) 727-7376 McClatchy Tribune News Service contributed to this article.

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Wingsuit flier jumps off Chinese mountain - Washington Post

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China's Stocks Fall to 14-Month Low on Policy, Economy Outlook - BusinessWeek

September 23, 2011, 12:17 AM EDT By Bloomberg News

Sept. 23 (Bloomberg) -- China’s stocks fell, dragging the benchmark index to its lowest level in more than 14 months, on concern the global economy may not avoid entering a recession.

Bank of Communications Co. dropped to the lowest level in almost seven weeks after the central bank asked lenders to maintain a stable loan-to-deposit ratio during public holidays next month. Kweichow Moutai Co. retreated to a 10-week low after the Guangzhou Daily said the government had ordered liquor makers to stop increasing prices.

The Shanghai Composite Index lost 0.9 percent to 2,420.94 as of the 11:30 a.m. local-time break, set to close at the lowest level since July 8, 2010. The CSI 300 Index dropped 1.2 percent to 2,654.35. The MSCI All-Country World Index of 45 nations entered a bear market yesterday for the first time in more than two years, after the worsening European debt crisis and threat of a U.S. recession erased more than $10 trillion from equities since May.

“The dim outlook for the global economy has made investors extremely pessimistic,” said Wu Kan, a fund manager at Dazhong Insurance Co., which oversees $285 million. “There’s no good news worldwide and the announced policies seem to be not strong enough to save the economy from entering recession.”

The Shanghai Composite Index has slumped 12 percent this quarter, extending the loss to 14 percent for the year as the government increased measures to cool inflation that’s at the highest in almost three years.

Government Support

The gauge has tumbled 21 percent from this year’s peak on April 18, exceeding the 20 percent slump that some investors define as a bear market. Stocks in the gauge trade at 11.1 times estimated profit, the lowest level on record, according to data compiled by Bloomberg.

The Shanghai Composite pared an earlier loss of 1.8 percent amid speculation the government will take steps to support financial markets. China’s social security fund plans to invest more than 10 billion yuan ($1.6 billion) in the nation’s stock market, Securities Times reported today, citing an unidentified person.

“Speculation on government’s support always works in China’s market, no matter it’s true or not,” Dazhong’s Wu said. “That would help lift the index for the short-term but may need several round of injection to turn the pessimistic sentiment around.”

Jiangxi Copper

The MSCI All-Country World Index has lost 23 percent since peaking on May 2. Stocks fell yesterday on a Federal Reserve assessment that turmoil caused by Europe’s crisis is taking a toll on the economy and as a measure of Chinese manufacturing weakened. Central bankers and finance ministers will discuss the economic outlook today at annual meetings of the International Monetary Fund and World Bank in Washington.

Jiangxi Copper Co., China’s biggest producer of the metal, slumped 3.7 percent to 28 yuan, set for the lowest close since Aug. 12, 2010. Copper futures for December delivery dropped 7.3 percent to close at $3.4885 a pound in New York, the biggest drop for a most-active contract since Oct. 30, 2008.

China Vanke Co., the nation’s largest developer, retreated 1.1 percent to 7.38 yuan. Gemdale Corp. slid 1.5 percent to 5.27 yuan. Some trust firms have halted real estate trust businesses on quota restrictions, the Shanghai Securities News reported.

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Several trust firms confirmed they had received requests from the China Banking Regulatory Commission to report on their business with Greentown China Holdings Ltd., the newspaper said. Greentown, the largest builder in the eastern province of Zhejiang, said it has no trouble financing its loans and denied a Reuters report it’s being investigated by the nation’s banking regulator.

Bank of Communications slid 1.3 percent to 4.50 yuan, the lowest level since Aug. 8. Agricultural Bank of China Ltd. slipped 1.2 percent to 2.49 yuan.

China’s central bank has asked commercial banks to maintain a stable loan-to-deposit ratio during the National Day holiday which begins on Oct. 1, the Oriental Morning Post reported today, citing unidentified people. The difference of banks’ outstanding deposits on Sept. 30 and on Oct. 8 must not exceed 5 percent, the newspaper said.

Liquor producers fell. China’s National Development and Reform Commission has told Kweichow Moutai, Wuliangye Yibin Co. and other domestic liquor makers to halt price increases for their products, the Guangzhou Daily reported today, citing the China Alcoholic Drinks Industry Association. The move is aimed at stabilizing prices and ensuring supply in the market, the newspaper said.

Kweichow Moutai declined 2.2 percent to 193.29 yuan, set to close at the lowest level since July 14. Wuliangye Yibin dropped 1.4 percent to 36.66 yuan. Luzhou Laojiao Co. sank 5.1 percent to 39.70 yuan, heading for the biggest drop since Dec. 6, 2010.

--Irene Shen. Editors: Darren Boey, Matthew Oakley

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at ishen4@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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Chinese Stocks in the U.S.: Baidu, Cnooc, JinkoSolar, Sina, Sohu - Bloomberg

The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, tumbled 5.4 percent to 349.69, the lowest level since May 2010. The New York Stock Exchange China Index plunged 5.6 percent to 210.65. The Shanghai Composite Index sank 2.8 percent to 2,443.06.

The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of the close of trading at 4 p.m. New York time.

U.S.-listed Chinese Internet companies fell on concern that the dimming global economic outlook makes shares with higher valuations less attractive. “When the market gets spooked, there is a flight to lower beta, lower risk stocks. Internet stocks are assumed to be high-beta,” said Jonathan Masse, a money manager at Walnut Creek, California-based Baochuan Capital Management LLC, which invests in Chinese stocks and options.

Baidu Inc. (BIDU US), China’s biggest Internet company by market value, plunged 11 percent, the most since October 2009, to $123.18.

Sohu.com Inc. (SOHU) , operator of China’s fifth-most visited website, sank 10 percent to a one-year low of $54.49.

Sina Corp. (SINA US), owner of China’s third-most popular website, tumbled 9.1 percent to a three-month low of $81.82.

NetEase.com (NTES) Inc, the second-biggest online games operator, declined 7.3 percent to $40.09, the lowest since January.

Ctrip.com International Ltd. (CTRP) , China’s biggest online travel agency, fell for a fifth day, losing 4.6 percent to $32.70, the lowest level since February 2010. The company’s board has approved a plan to purchase as much as $15 million of its American depositary receipts, it said in a statement distributed by PR Newswire.

JinkoSolar Holding Co. (JKS US), a Chinese maker of solar panels, gained 5.9 percent, the most in a month, to $6.10. No customers have canceled orders since pollution from a plant prompted protests and production was halted, Chief Financial Officer Zhang Longgen said on a conference call with analysts and investors.

Oil dropped to a six-week low after the Federal Reserve cited “significant downside risks” to the economy of the U.S., the world’s biggest crude consuming nation.

Cnooc Ltd. (CEO) , China’s largest offshore energy producer, plummeted 8.5 percent to $145.32.

PetroChina Co. (PTR US), the nation’s biggest oil producer, sank 3 percent to $112.49, a one-year low.

China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner known as Sinopec, slid 5.1 percent to a one- month low of $88.77.

To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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China's Factory Activity Slipped in September - Wall Street Journal

BEIJING—A preliminary gauge of China's manufacturing activity fell in September, indicating that growth in the world's second-largest economy continued to slow.

The preliminary HSBC China manufacturing purchasing managers index fell to 49.4 in September from a final reading of 49.9 in August, HSBC Holdings PLC said Thursday.

A reading below 50 indicates contraction from the previous month, while a reading above 50 indicates expansion.

The decline in the PMI could reignite some concerns over a sharp economic slowdown in China, due to weakening global demand for Chinese goods and various tightening measures at home.

The Australian dollar, which is sensitive to Chinese demand for Australian commodities, slipped after the data were released, falling below parity to the U.S. dollar for the first time since Aug. 8.

HSBC economist Qu Hongbin, however, said in a note that the data are consistent with a "soft landing" scenario. "Fears of a hard landing are unwarranted," he wrote. "External demand weakened a little but official trade data still show solid export growth."

Mr. Qu said he expects China's gross domestic product growth to be around 8.5% to 9% in coming quarters, down from 9.5% in the second quarter. The manufacturing output subindex fell to 49.2, a two-month low.

The preliminary China PMI figure, also called the HSBC Flash China PMI, is based on 85% to 90% of total responses to HSBC's PMI survey each month and is issued about a week before the final PMI reading. September's final reading is due Sept. 30.

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India, China in Standoff Over Oil - Wall Street Journal

India is being pulled into a complex and increasingly tense territorial dispute in the South China Sea, with China repeatedly warning ONGC, the Indian state oil company, that its joint exploration plans with Vietnam amount to a violation of Chinese sovereignty.

The Indian government responded to the latest Chinese warnings Thursday by repeating its pledge to continue exploring for energy in the South China Sea, where China is embroiled in territorial disputes with Vietnam, the Philippines, Taiwan, Malaysia and Brunei.

ONGC, meanwhile, said it planned to resume drilling next year at one of its two remaining blocks in the area, after suspending work there because of a hard seabed, and after relinquishing another block last year because it lacked production potential.

"We plan to restart drilling there," said ONGC Chairman A.K. Hazarika. "The [Indian] Ministry of External Affairs has informed us that the block is well within the territory of Vietnam and so there are no issues with exploration there."

The testy public exchanges follow an unusual incident in July when, according to the Indian government, an Indian navy ship visiting Vietnam as part of expanding bilateral defense ties received a radio message warning it that it was entering Chinese waters. China has dismissed India's version of the incident as "groundless."

Analysts say the fresh standoff between Asia's two emerging economic and military giants, which fought a brief war over their disputed Himalayan land borders in 1962, increases the risk of a military flare-up in the South China Sea.

China, which won the 1962 war, has been involved in several angry exchanges and incidents at sea this year with Vietnam and the Philippines, which have been beefing up their military arsenals, and defense ties with the U.S., in response to what they see as growing Chinese assertiveness.

The U.S. meanwhile has been fending off repeated Chinese protests about its surveillance operations in the area, while trying to encourage democratic allies and partners, especially India, Australia and Japan, to play a more active role in defending freedom of navigation in the region.

The South China Sea, which Beijing claims almost in its entirety, is thought to be rich in oil and gas—although proving that has been hard because of the territorial disputes—and is one of the world's most important shipping routes.

It is also now one of the region's major potential flashpoints as emerging Asian economies, especially China and India, build up their military firepower and seek the energy and other resources they need to fuel growth.

"Beijing is worried that other claimants are becoming more active and any de facto occupation and/or exploration lend credence and bargaining power in future negotiation," said Jingdong Yuan, an expert on the South China Sea at the University of Sydney's Centre for International Security Studies.

One of the latest Chinese warnings to India came Thursday in an article on the website of the People's Daily—the main Communist Party newspaper—which was written by its correspondents in Vietnam and India and was not published in the paper itself.

"It's not worthwhile for Vietnam and India to damage the greater interests of the peace, stability and economic development between China and Vietnam, China and India, and in the whole region, for the sake of these small interests in the South China Sea," the article said.

China's Foreign Ministry spokesman, Hong Lei, also repeated the Chinese government's claims to sovereignty over the area. "Any foreign company that engages in oil-exploration activity in waters under China's jurisdiction without the agreement of China has violated China's sovereignty, rights and interests," he said Thursday in a briefing. "This is illegal and invalid."

Vishnu Prakash, spokesman for India's Ministry of External Affairs, played down the People's Daily article, as well as the incident with the Indian navy ship, and declined to comment on media reports that China had made an official diplomatic protest over ONGC's plans.

But he said India strongly believed in freedom of navigation in the South China Sea and would continue to explore in the area as part of a "quest for energy security."

"We're engaged with China closely," he said. "And as we are closely cooperating with China, we're also closely cooperating with Vietnam."

India and China have been expanding economic ties in the past few years, but many Indian officials and experts harbor deep concerns about Beijing's growing military power and its expanding influence in neighboring countries, especially Pakistan.

In response, India has been building closer defense and commercial ties with the U.S. and many of its regional allies and partners, including Vietnam, which Indian Foreign Minister S.M. Krishna visited last week.

ONGC's overseas arm, ONGC Videsh, accounts for much of India's investment in Vietnam.

It operates one gas field—Block 06.1 in the Nam Con Son basin off Vietnam's south coast—in a joint venture with TNK-BP and PetroVietnam, which China has not protested over.

ONGC Videsh also won a contact in 2006 to jointly explore with PetroVietnam in Blocks 127 and 128 in the Phu Khanh basin further north. China protested at the time that both blocks were in its waters, and maintains that position now, according to the People's Daily article.

A spokesman for Vietnam's Foreign Ministry said Thursday that Blocks 127 and 128 were both in Vietnamese territorial waters. He declined further comment.

Vietnam launched a fresh round of licensing this year for blocks it says are not in contested waters. However, China has never specified the precise extent of its territorial claims.

A spokeswoman for ONGC Videsh said the company was only exploring now in Block 128, having relinquished 127, but declined to comment on whether it had future exploration plans with Vietnam.

Another Indian company, Essar Group, has a production-sharing contract for a petroleum block off Vietnam's coast. An Essar spokesman said it was not in "controversial" waters and Essar did not plan to bid for further exploration rights from Vietnam.

—Nguyen Anh Thu in Hanoi and Rakesh Sharma in New Delhi contributed to this article.

View the original article here

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Invesco PowerShares to List Chinese Yuan Dim Sum Bond ETF on Sept. 23, 2011 - MarketWatch (press release)

CHICAGO, IL, Sep 22, 2011 (MARKETWIRE via COMTEX) -- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today the PowerShares Chinese Yuan Dim Sum Bond Portfolio (nyse arca:DSUM) is expected to begin trading on Sept. 23, 2011. The Fund will provide access to Chinese yuan-denominated "Dim Sum" bonds issued and settled outside mainland China. DSUM will have an expense ratio of 0.45% and is expected to issue monthly distributions.

"The Dim Sum bond market offers attractive coupons, and the ability to participate in the appreciation potential of the yuan over time," said Ben Fulton, Invesco PowerShares managing director of global ETFs. "We believe the PowerShares Chinese Yuan Dim Sum Bond Portfolio provides investors with both convenient, and low cost(1) access to the yuan-denominated debt market."

The Dim Sum bond market was introduced in 2007 when the People's Republic of China-incorporated financial institutions were first allowed to issue yuan-denominated bonds offshore. Since then, the market for Dim Sum bonds has seen significant growth, particularly since its deregulation in July 2010. Dim Sum bonds are generally issued in Hong Kong by governments, agencies, supranationals and corporations.

The PowerShares Chinese Yuan Dim Sum Bond Portfolio is based on the Citigroup Dim Sum (Offshore CNY) Bond Index. The Fund will normally invest at least 90% of its total assets in Chinese yuan-denominated bonds that comprise the Index. The Index measures the performance of Chinese yuan-denominated "Dim Sum" bonds that are issued and settled outside of Mainland China. The Index includes fixed-rate securities issued by governments, agencies, supranationals and corporations that have a minimum maturity of one year and a minimum size outstanding of 1 billion yuan. The index is managed by Citigroup Index LLC and is reconstituted on a monthly basis.

Invesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution(R) through its family of more than 140 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $57 billion as of June 30, 2011, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.

Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com .

(1) Brokerage commissions may apply.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions may apply.

Not FDIC Insured | May Lose Value | No Bank Guarantee

The Fund may invest in fixed-income securities, such as notes and bonds, which carry interest rate and credit risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Credit risk is the risk of loss on an investment due to the deterioration of an issuer's financial health.

Adverse economic conditions, such as unfavorable or volatile currency exchange rates and interest rates, political events or other conditions may cause the Chinese government to intervene and impose "capital controls," including the prohibition of, or restrictions on, the ability to transfer currency, securities or other assets.

There are special risks associated with investing in securities designed to provide exposure to Chinese Yuan, such as Yuan-denominated bonds in which the Fund will invest. The Chinese government maintains strict currency controls and regularly intervenes in the currency market. As a result, the value of the Yuan, and the value of Yuan-denominated securities, may change quickly and arbitrarily, potentially impacting the availability, liquidity, and pricing of securities designed to provide offshore investors with exposure to Chinese markets.

The Fund invests at least 80% of its assets in Chinese Yuan-denominated bonds issued and settled outside of mainland China. Because the Fund's net asset value (NAV) is determined in U.S. dollars, the NAV could decline if the currency of the non- U.S. market in which the Fund invests depreciates against the U.S. dollar, even if the value of the Fund's holdings increases, as measured in the foreign currency, including securities denominated in the Chinese Yuan. In addition, if the Chinese currencies, the Renminbi, which is traded in mainland China and the Yuan, which is traded off-shore (traded as "CNH" in Hong Kong), diverge in value, that divergence could negatively impact the Fund.

The Fund's underlying securities may be subject to call risk, which may result in the Fund having to reinvest the proceeds at lower interest rates, resulting in a decline in the Fund's income.

The Fund's use of a representative sampling approach will result in its holding a smaller number of securities than are in the underlying Index, and may be subject to greater volatility.

The Fund is considered non-diversified and may be subject to greater risks than a diversified fund.

Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility than more diversified investments.

Unlike most ETFs, the Fund currently intends to effect redemptions principally for cash and partially in-kind, rather than primarily in-kind redemptions because of the nature of the Fund's investments. As such, investments in Shares may be less tax efficient than investments in conventional ETFs.

The Fund may invest in non-investment grade, or high-yield, securities (junk bonds). High-yield securities have additional risks, including interest rate changes, decreased market liquidity and a larger amount of outstanding debt than investment grade securities.

Sovereign debt securities are subject to the additional risk that -- under some political, diplomatic, social or economic circumstances -- some developing countries that issue lower quality debt securities may be unable or unwilling to make principal or interest payments as they come due. The fund may have limited legal recourse against the issuer and/or guarantor of sovereign debt when default occurs. As a holder of government debt, the Fund may be requested to participate in the rescheduling of such debt and to extend further loans to government debtors.

The Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (Citigroup Index) or any of its affiliates (collectively, Citigroup). Citigroup Index makes no representation or warranty, express or implied, to the owners or prospective owners of shares of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly, or the ability of the Fund to track the price and yield performance of the Dim Sum Bond Index or the ability of the Dim Sum Bond Index to track general bond market performance.

Shares are not individually redeemable and owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Units only, typically consisting of aggregations of 50,000 shares.

Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust II.

Note: Not all products available through all firms.

PowerShares(R) is a registered trademark of Invesco PowerShares Capital Management LLC. Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.

An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing. For this and more complete information about the Fund call 800 983 0903 or visit invescopowershares.com for a prospectus. Please read the prospectus carefully before investing.

Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email Contact Bill Conboy 303-415-2290 Email Contact

SOURCE: Invesco PowerShares Capital Management LLC

http://www2.marketwire.com/mw/emailprcntct?id=813FC0CD152EE098 http://www2.marketwire.com/mw/emailprcntct?id=3AE0787E07CC3B81

Copyright 2011 Marketwire, Inc., All rights reserved.

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China's Banking Regulator Evaluates Trust Loans to Developers - BusinessWeek

September 22, 2011, 10:42 PM EDT By Bloomberg News

Sept. 23 (Bloomberg) -- China’s banking regulator is looking into financing of developers through trust companies as part of a broader evaluation of real estate lending, a person familiar with the matter said.

The inquiries by the China Banking Regulatory Commission are part of regular monitoring and aren’t targeting any individual company, said the person, who declined to be identified because the regulator’s queries were meant to be private.

Chinese property developers led by Greentown China Holdings Ltd. plunged in Hong Kong trading yesterday on concern tightened access to loans will force them to cut prices. Greentown said it hasn’t received any notice following a Reuters report that the banking regulator ordered trust companies to report dealings with the developer.

“Given that the nature of trust loans is short term, the key question would be whether or not developers have sufficient cash to repay the outstanding loan amounts,” Samsung Securities Asia Ltd. analysts led by Wee Liat Lee, said in a report today. “We believe that developers should be financially secure should the trust loans not to be rolled over.”

Trust loans are usually debt that’s repackaged into investment products and sold to retail investors, and the loans are typically funded by banks or the investors themselves, according to Samsung Securities. For most developers, these make up less than 10 percent of their loans and the debt maturity is a few months to a year, the brokerage said, adding that the interest rate ranges from 10 percent to 30 percent.

No Trouble

Greentown, the largest builder in the eastern province of Zhejiang, said it has no trouble financing its loans and it hasn’t been queried by the banking regulator. The stock plunged 16 percent yesterday, the most in almost three years, after the Reuters report. The stock lost 3.3 percent to HK$4.34 as of 9:38 a.m. in Hong Kong trading.

“We have not received any notice from the regulator,” Simon Fung, Greentown’s chief financial officer, said yesterday in a phone interview from the company’s headquarters in Hangzhou. “The regulator sometimes sends out some surveys or requires additional information from trust firms. These shouldn’t be called inspections.”

Developers have turned to trusts for financing as the regulator restricted bank lending for real estate to cool prices and avert a property bubble. Real estate stocks made up half of the 10 worst decliners on the MSCI China Index yesterday.

‘Overdone’

“We believe investors’ concern was overdone, mainly due to the fact that the investigation has not been confirmed, and Greentown’s management has denied that it has received any form of notification from the CBRC regarding such an investigation,” according to the Samsung Securities report today.

The CBRC isn’t targeting any individual companies and the evaluations don’t reflect its assessment of the market, the person said. The regulator has oversight of the trust industry.

Fewer than half of the 70 cities monitored by the government posted month-on-month gains in home prices for the first time in August, according to Samsung Securities. The government said this month its measures to control the property market are at a critical stage and it needs to focus efforts on curbing price increases in less affluent cities after limiting home purchases in markets including Beijing and Shanghai.

‘Increase Liquidity Pressure’

“We believe credit tightening and potential weakness in future sales volume and home prices will increase liquidity pressure for developers,” analysts at Daiwa Capital Markets led by Danny Bao said in a report yesterday. “However, we believe major developers with low financial leverage, strong contract sales and high cash ratios, are likely to benefit from the credit crunch.”

Greentown had 5 billion yuan ($781 million) of loans from trusts out of its total debt of 35 billion yuan as of June 30, Fung said. The developer had no new lending from trusts this year, as it was already very difficult to get loans from these companies last year, he said.

Greentown’s gearing, or its debt relative to equity, is the highest among Chinese developers, according to Credit Suisse Group AG’s estimates. “I think what the regulator is doing is to use Greentown as an example to check on the risks of the whole industry,” said Jinsong Du, a Hong Kong-based property analyst for Credit Suisse, who rates the stock “underperform.”

Greentown has set up a yuan-denominated real estate fund with Citic Securities Co. and is in talks with Ping An Insurance Group Co. for a similar venture to raise capital, Fung said. The company will be cautious in acquiring land in the second half as sales slowed after the government tightened rules on the property market.

Greentown is aiming for 40 billion yuan of sales this year, down from 54 billion yuan in 2010. “We cut our sales target, but it doesn’t mean we have financing problems,” Fung said. “We can still maintain the balance.”

--Bonnie Cao, Zhang Dingmin. Editors: Linus Chua, Andreea Papuc

To contact Bloomberg News staff for this story: Bonnie Cao in Shanghai at bcao4@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net 3900 HK CN

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Based on Thomas Harris's novel, this terrifying film by Jonathan Demme really only contains a couple of genuinely shocking moments (one involving an autopsy, the other a prison break). The rest of the film is a splatter-free visual and psychological descent into the hell of madness, redeemed astonishingly by an unlikely connection between a monster and a haunted young woman. Anthony Hopkins is extraordinary as the cannibalistic psychiatrist Dr. Hannibal Lecter, virtually entombed in a subterranean prison for the criminally insane. At the behest of the FBI, agent-in-training Clarice Starling (Jodie Foster) approaches Lecter, requesting his insights into the identity and methods of a serial killer named Buffalo Bill (Ted Levine). In exchange, Lecter demands the right to penetrate Starling's most painful memories, creating a bizarre but palpable intimacy that liberates them both under separate but equally horrific circumstances. Demme, a filmmaker with a uniquely populist vision (Melvin and Howard, Something Wild), also spent his early years making pulp for Roger Corman (Caged Heat), and he hasn't forgotten the significance of tone, atmosphere, and the unsettling nature of a crudely effective close-up. Much of the film, in fact, consists of actors staring straight into the camera (usually from Clarice's point of view), making every bridge between one set of eyes to another seem terribly dangerous. --Tom Keogh

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Geithner slams China's intellectual property policies - Reuters

WASHINGTON | Fri Sep 23, 2011 12:43am EDT

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Thursday that China is holding to its decades-old strategy to steal American intellectual property, in a pointed statement reflecting U.S. officials' growing impatience with Beijing.

"They China have made possible systematic stealing of intellectual property of American companies and have not been very aggressive to put in place the basic protections for property rights that every serious economy needs over time," Geithner told a forum in Washington.

"We're seeing China continue to be very, very aggressive in a strategy they started several decades ago, which goes like this: you want to sell to our country, we want you to come produce here ... if you want to come produce here, you need to transfer your technology to us," Geithner said.

Although unusually direct, Geithner's comments echo a common refrain from U.S. officials and executives. The new U.S. Ambassador to China, Gary Locke, who has assailed China in the past for its trade practices, has put the defense of U.S. intellectual property among his chief priorities.

China has said it would drop some of its "indigenous innovation" rules that have riled foreign companies who say access to government equipment and technology orders hinge on their transferring patents and other intellectual property.

But business associations in China argue that enforcement of Beijing's promises has been spotty, particularly at the local government level, hampering foreign companies' access to a market estimated to be worth as much as $1 trillion a year.

In an offshoot of Washington's dissatisfaction with Beijing's trade policies, leaders in Washington have long argued that China's yuan currency is undervalued, giving Chinese companies a price advantage that costs U.S. jobs.

But the foreign business community in China -- concerned about what they see as China becoming more closed toward foreign investors in recent years -- has argued that the emphasis on yuan revaluation distracts from the most serious issues threatening U.S. business interests.

A coalition of 51 U.S. business groups sent a letter dated Wednesday to senators considering a currency bill, urging them to focus more on China's inadequate protection of intellectual property and restrictions on market access.

"... unilateral legislation on this issue would be counterproductive not only to the goals related to China's exchange rate that we all share, but also to our nation's broader objectives of addressing the many and growing challenges that we face in China," the groups said.

Piracy and counterfeiting of U.S. software and a wide range of other intellectual property in China cost U.S. businesses alone an estimated $48 billion and 2.1 million jobs in 2009, the U.S. International Trade Commission has said.

The United States' trade deficit with China hit a record $273 billion in 2010 and could top that this year.

In May, China was listed for the seventh year by the U.S. Trade Representative's office as a country with one of the worst records for preventing copyright theft.

(Reporting by Rachelle Younglai; Writing by Michael Martina in Beijing; Editing by Don Durfee)

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Reports: China driver fatally runs over meter maid - Boston Globe

SHANGHAI—A man determined to escape paying a parking fee in downtown Shanghai ran over and killed a meter maid in the latest in a spate of road rage incidents in China.

The uniformed parking attendant was standing in front of the man's car trying to prevent him from leaving when she was run over, the Xinmin News and other local reports said Thursday. Parking in the area costs 15 yuan (about $2.35) an hour.

The reports said the man drove into the woman and that she was dragged under the Audi sedan until he stopped a short while later, and that passersby pulled her from beneath the car. She died after she was taken to a nearby hospital.

Police, who reportedly took the man into custody, did not respond to phone calls after office hours Thursday.

A search for the vehicle involved in the incident in a police traffic website revealed 22 records, including for speeding and parking and other alleged violations.

Reports of road rage and drunk driving incidents in China have been on the rise, reflecting the boom in auto sales. Many drivers hit the streets with little more than cursory training and show scant regard for traffic lights and other basic rules.

Last week in Beijing, a prominent singer associated with the military apologized publicly after his son attacked a couple in their car when they blocked his way while he was driving a BMW reportedly given to him by his father, although he was too young to have a license.

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China's unhealthy habits drive chronic diseases up - The Associated Press

China's unhealthy habits drive chronic diseases upBy GILLIAN WONG, Associated Press – 9 hours ago 

BEIJING (AP) — During a recent weekday lunch, middle-aged Wu Zhixin had a plate of shredded pork noodles glistening with oil and washed it down with a paper cup of vodka-like alcohol. Then she lit a cigarette.

"No smoking," a waitress called out. Wu nodded, but finished her Double Happiness brand cigarette before stubbing it out on the tiled floor.

Scenes like this are typical and illustrate the challenges China faces in tackling the explosion of chronic diseases such as heart disease and cancer, two top killers here.

"I smoke because I work in sales and it helps me cope with the stress of meeting targets," said Wu, a slightly overweight woman who smiles warmly but has stained teeth. "I know it is bad for me and I'm trying to quit, but I'm still very healthy now, and I'm optimistic about my future."

Newly prosperous, China is facing a very changed health picture from a generation ago when it was still largely poor and agrarian — and the diseases plaguing Chinese have changed too.

Heart disease, cancer, and respiratory disease have replaced hepatitis, diarrhea and malaria as desk work replaces farming, cars replace bicycles, and smoking remains stubbornly popular.

Chronic diseases account for more than 80 percent of deaths, in China, or nearly 8 million in 2008, according to the World Health Organization. The epidemic comes as the United Nations' General Assembly holds a high-level meeting on non-communicable diseases in New York next week.

Compared to the United States, China has three times the death rate from respiratory diseases like emphysema. By another measure, Chinese are healthier, with only a quarter of the population overweight, compared to two-thirds of Americans.

Chronic diseases are costly. The World Bank estimated in a July report that reducing the death rate of cardiovascular disease — conditions that cause heart attacks and strokes — by just 1 percent a year over three decades could generate an economic value equivalent to 68 percent of China's GDP last year, or about $10.7 trillion.

China's breakneck economic development over the past 30 years has pulled hundreds of millions out of poverty and moved many people into cities. But a broken health care system and inadequate state insurance mean getting treated for serious diseases can impoverish many families. Unhealthy diets and sedentary lifestyles have helped accelerate an explosion in chronic diseases.

Lu Nanxu, 28, a programmer at an IT services company in Beijing, knows he needs to exercise and eat less to shed some of the 215 pounds (98 kilograms) on his 1.7-meter (5-foot-8-inch)-tall frame that categorizes him as obese, but he doesn't.

"I have plenty of time to exercise, but I'm too lazy," he said with a sheepish grin at a Japanese fast food joint. "When I finish work, I prefer to go home and surf the Internet or watch movies on my computer."

Lu said he used to be a competitive ice-skater when he was growing up in Harbin, a city in frigid northeastern China, but as an adult, he stopped exercising.

"It's not only exercise, but I would have to control my eating and that can be very difficult," he said as he polished off a dinner of braised thinly sliced, fatty beef and fried chicken with rice and steamed vegetables, a side of mashed potatoes, and a soft drink.

A high-salt diet is also a major problem in China. Experts believe high blood pressure is the leading preventable risk factor tied to stroke and heart attack. On average, the Chinese consume twice as much salt as the recommended maximum set by the WHO, according to the organization's food safety expert in Geneva, Dr. Peter Ben Embarek.

Unlike in the U.S., where salt is usually consumed through processed foods like bacon, cheese and fast food, the high sodium intake in China comes from the liberal use of soy and oyster sauces and the flavor-enhancer MSG, which is added to soups, stews, instant noodles and other foods. The popularity of pickled mustard greens, cabbage, radish and other vegetables also contributes.

The average Chinese person consumes 11 grams (0.4 ounces) of salt a day, compared to Americans, who eat 8.5 grams (0.3 ounces), Embarek said. "We believe that it's one of the places where if you can reduce it just a little bit, not even down to the maximum recommended level, but just a little bit, you will swiftly see a positive impact in public health."

Another big killer is smoking, which is linked to 1 million deaths in China every year. More than a quarter of adults in China smoke, roughly 350 million people — a number about equal to the entire U.S. population.

In May, China tried to ban smoking in indoor public places. But in a country where half of all male doctors smoke and cigarettes are commonly presented as gifts, such restrictions are usually ignored.

Restaurants in Beijing are reluctant to turn away customers who light up. The Beijing Capital International Airport became the first in China to go smoke-free this spring, three years after all public venues were supposed to for the Olympics.

At China's top cancer hospital, the Cancer Institute and Hospital of the Chinese Academy of Medical Sciences in southeastern Beijing, large no-smoking signs are prominently displayed on every floor and the rule appears to be strictly observed. That's unusual. In many county hospitals people light up in waiting rooms and along corridors outside wards.

In the cancer hospital's lung oncology department, a 55-year-old man sat slumped in a chair, tapping his foot nervously as he waited for his father to emerge from a consultation. The man, who would only give his surname Li, said the news that his 70-year-old father was diagnosed two weeks ago with lung cancer shocked him into immediately giving up his pack-and-a-half daily smoking habit, as well as drinking.

"The scans showed a spot on his left lung that was this big," said Li, indicating with his fingers a circular shape of about an inch in diameter.

"It was not difficult for me to quit smoking. I have to do it for myself and for everybody around me," he said. Li said he was fortunate that insurance provided by his government job would cover most of the expenses for his father's treatment.

Others are not so lucky. After decades of underfunding the health care system, China recently poured $124 billion into building hospitals and expanding state insurance coverage, but there are still many for whom a serious chronic illness — like cancer — can wipe out a family's life savings.

After only one round of chemotherapy, 25-year-old Wang Yuanjin fears he won't have enough money to continue the treatment that is keeping his leukemia at bay. Wang was working a summer job before starting postgraduate studies at a university when he was diagnosed several weeks ago with the disease.

Already the disease has cost his family 110,000 yuan ($17,200). That has forced his parents, soybean and wheat farmers from Henan who make about 10,500 yuan ($1,600) a year, to borrow from relatives and friends. Only about a third of the total so far will likely be reimbursed by state health insurance, Wang estimates.

The cost of treating leukemia is so high that some of those diagnosed simply give up on treatment. Wang has moved into a tiny room near the hospital and is writing a blog seeking donations for a bone marrow transplant. The cost: 600,000 yuan, or $94,000.

"My father is going to go home and sell whatever he can sell," he said.

___

Associated Press researcher Fu Ting contributed to this report from Shanghai.

Follow Gillian Wong on Twitter at http://twitter.com/gillianwong

Copyright © 2011 The Associated Press. All rights reserved.

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Airbus sees China, Asia as recession buffer - Reuters

An Air China Airbus A330-200 plane waits on the tarmac as a paramilitary policeman stands guard at Beijing's international airport April 12, 2011.

Credit: Reuters/David Gray

By Melanie Lee

DALIAN, China | Thu Sep 15, 2011 6:04am EDT

DALIAN, China (Reuters) - Demand for new airplanes from China and Asia will provide Airbus with a buffer for growth in the event of a global recession resulting from Europe's debt crisis, the company's chief operating office said on Thursday.

"So far we have 1,000 net orders (from Europe) at the end of August and the air traffic is still good," Fabrice Bregier told Reuters in an interview.

"However, we might well expect some adjustments in the future. This is very different from 2008-2009. In this case we see a problem of some European states with excessive debt but the real economy is very good," he said on the sidelines of the World Economic Forum in Dalian.

The euro area debt crisis has contributed to increasing concerns in financial markets that the world economy could slip into another recession. Billionaire investor George Soros said the crisis could trigger a Great Depression.

Bregier said it may be a "challenge" to avoid another recession that would bring about less air traffic and slower growth for airlines. But he said he expected growth in Asia and especially China to provide a suitable growth buffer for Airbus, a unit of aerospace group EADS (EAD.PA).

"If there is a big recession there will be less traffic and so the airlines will not generate the cash to buy new aircraft," Bregier said.

"Now we are in the global market, so we don't sell exclusively to Europe or America and in our order book our biggest share comes from Asia, and China plays a big role," he added.

Bregier said Airbus will deliver its first superjumbo to mainland carrier China Southern Airlines (600029.SS) in a few weeks and the aircraft will be made operational in November.

Boeing (BA.N), Airbus's main rival, said on September 7 that China will need 5,000 commercial aircraft worth $600 billion over the next 20 years, a 25 percent increase on the company's previous estimate.

Airbus, which currently has 46 percent market share in China, is due to publish its global forecasts on September 19. Bregier said the firm's market share in China will exceed 50 percent in the next few years.

"We plan to deliver about 90 aircraft in China next year and about 100 this year," he said.

In June, China placed an order for 88 Airbus A320 planes putting aside a bubbling trade row with Europe over a proposed emissions scheme as it sought to fuel economic growth.

The deal, worth $7.5 billion at list price and with deliveries slated for 2012-15, was signed by China Aviation Supplies and Industrial Commercial Bank of China (1398.HK) (601398.SS).

Although China plans to start competing with Airbus and Boeing (BA.N) by building its own narrowbody passenger jets from the second half of this decade, it has ordered large volumes of Airbus A320s and Boeing 737s to feed traffic growth.

Airbus began assembling planes for the Chinese market at a factory in Tianjin, outside Beijing, in 2009. Bregier said he expects to make inroads into the China markets with sales of the new A380 superjumbo aircraft.

"I think they (other Chinese airlines) will be very interested in A380s when they see the success of China Southern... We expect other top players in China to progressively order A380s," he said.

"The trend is clear, China will need bigger aircraft in the future and so we think with the A380, we really have a trump".

(Reporting by Melanie Lee; Editing by Kazunori Takada and Neil Fullick)

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Sirisha Men's Chinese Style Cotton Pajamas

This is quite simply just a great set of pajamas



We took the highest quality cotton that we could find and combined that with a classic Chinese-style cut and came up with a set of pajamas that are both comfortable as well as stylish



Available in Ivory (shown), Red and Dark Blue, Sizes S, M, L, XL and XXL.



Features:



* 100% high quality Cotton.

* Classic Chinese styling throughout - Mandarin Collar, Frog Closures.

* 1 inch elastic waistband with drawstring.

* 2 front shirt pockets.

* The highest quality construction.




Recommended care: We recommend handwashing or gentle machine wash, IN COLD WATER, with a mild detergent such as Woolite® and no bleach or bleaching agent, and then hang to dry



Imported.

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Chinese petitioners detained during Biden's visit - CBS News

(AP)  BEIJING — Police detained and tied up six Chinese farmers involved in land disputes with the government to prevent them from trying to see U.S. Vice President Joe Biden during his visit last month, one of the farmers said Thursday.

The farmers, all women from southwest China's Sichuan province, filed a joint complaint with provincial prosecutors this week against police in Chengdu, Sichuan's capital, said Gan Xingyan, 46, one of the plaintiffs.

Police frequently detain dozens of activists and petitioners in Beijing and elsewhere in China ahead of major events such as the 2008 Beijing Olympics, President Barack Obama's first state visit to the country in 2009 and National Day celebrations on Oct. 1.

Activists and petitioners often try to piggyback on high-profile visits to draw attention to their complaints and embarrass the government. Some hang banners, while others try to invade government offices or distribute flyers at Tiananmen Square. Most attempts are unsuccessful.

In Chengdu, police detained the farmers for days, put handcuffs and leg irons on them, tied them to benches and starved some of them in order to block them from seeing Biden when he made a stop in the city on Aug. 20, Gan said.

"They threatened us and interrogated us without stop and kept us awake," she said in a phone interview. "They detained us without any proper documents and tortured us with despicable means. We want justice, but we're not sure whether we will get it in the end."

A phone call to the media office of the Chengdu Public Security Bureau rang unanswered Thursday. A woman who answered a call at the media office of the Shuangliu county Public Security Bureau hung up the phone. The farmers are from Shuangliu.

Four of the women were rounded up by plainclothes police in the early hours of Aug. 20 while they were staying at a friend's place next to Sichuan University — where Biden was to address students hours later — while another two were picked up at the north gate of the university later that day, the complaint said. A seventh farmer on the complaint was taken away Aug. 30, more than a week after Biden left China, it said.

The complaint was published on 64Tianwang.com, a Chinese human rights website run by veteran activist Huang Qi. It is accompanied by photos of one of the women, He Xiujun, lying on a hospital bed with large bruises on her legs from being tied to a bench for days until she finally fainted. Gan said the woman was still in the hospital.

All of the women are petitioners who have tried for years to bring attention to their grievances over unfair compensation for farmland seized by the local government in Shuangliu, Gan said.

The U.S. Embassy in Beijing declined to comment.

___

Follow Gillian Wong on Twitter at http://twitter.com/gillianwong

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CL By Chinese Laundry Women's Starflower Wedge Flat

Your favorite ballet flat gets a little boost with the cute Starflower from CL by Chinese Laundry. Simple in design, but no where near lacking in style, this flat has a versatile silhouette that will pair perfectly with anything from jeans to dresses and everything in between.

Price: $49.99

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China probes Johnson Controls unit for alleged lead - Baltimore Sun (blog)

SHANGHAI (Reuters) - A China unit of major lead-acid battery maker Johnson Controls has halted production at its Shanghai factory as authorities investigate into an alleged lead pollution case, the official Shanghai Securities News said on Thursday.

Shanghai Johnson Controls International Battery Co has been in the spotlight after children in Kangqiao area were found to have ultra-high levels of lead in their blood during medical checks, the newspaper said.

A team of government officials are investigating the potential lead pollution from the company and the firm will halt production for about a week from Wednesday (September 14), it said, citing an unnamed company staff.

Johnson Controls said the company was aware of the concerns raised by local residents which it takes very seriously.

"We are working with the government to understand and address these issues. However, we have no reason to believe we are the source of the issue," it said in a statement.

In July, environment group Greenpeace accused some of the world's leading clothing brands of relying on Chinese suppliers that pollute rivers with toxic, hormone-disrupting chemicals banned in Europe and elsewhere.

Adidas, Nike, Puma, Calvin Klein, Lacoste, Abercrombie and Fitch and China's Li Ning were among the global names in the Greenpeace report, following a year-long investigation.

Last month, Chinese environmental groups accused Apple Inc of turning a blind eye as its suppliers pollute the country, the latest criticism of the technology company's environmental record.

Residents in Kangqiao said at least 10 children have been hospitalized due to extra high levels of lead in their blood.

"There is a storage battery production factory, a waste incinerator and a nearby garbage-processing station that could be the cause of the pollution. These things should all be harmful," said 30-year-old Cao Gong, father of 7-year-old Cao Chen who is now in a hospital.

"They (the government) should immediately ask the hospital to treat these children so that they can get well as soon as possible. As of now, they have not even come to ask us (about our situation)."

Johnson Controls said last October it would spend $118 million to build its third auto battery plant in Chongqing.

The company eventually plans to install capacity for 30 million batteries in China by 2015.

(Reporting by Royston Chan and Fang Yan in Beijing; Editing by Kazunori Takada and Vinu Pilakkott)

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OmniPage Professional 17

OmniPage Professional 17 is the fastest, most precise way to convert paper, PDF files and forms with 99%+ accuracy into files you can edit in your favorite PC applications or archive in a document repository. OmniPage can recreate a 20 page paper document as a fully editable digital document in your favorite word processor in less than 2 minutes. It would take a person with normal typing skills about 2 1/2 hours to recreate that same document. Don't waste your time and let OmniPage do all the work for you.

Professional version also includes PaperPort (above) and PDF Create software. Click to enlarge.

Easy Loader allows you to quickly view, find and open multiple documents at a time. Click to enlarge.

Quick Convert View gets it done in seconds--there's no need to learn a lot of options and tools. Click to enlarge.

Scan a document, automatically convert into a readable format and send it to the Amazon Kindle. Click to enlarge.

New support for iPhone and 2-Megapixel phone cameras. Click to enlarge.

Quick and easy highlighting or redaction. Click to enlarge.

OmniPage Professional does so much more than scanning and recognizing text. Superior accuracy and formatting combine with easy-to-use workflow technology to automate all your conversion needs. Whether you want to make paper digital, create batches of PDF files, or collect data from filled electronic forms, OmniPage is up to the task. It can even scan, convert and send documents directly to your Amazon Kindle through email with the push of a single button.

OmniPage Professional also includes PaperPort desktop document management software and PDF Create software. PaperPort is seamlessly integrated with OmniPage Professional and makes Microsoft Windows better by allowing you to visually organize and manage all your documents. PDF Create allows you to create 100% industry-standard PDF file from any application.

Why use OmniPage?

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What problems does OmniPage solve?

The continued use of paper slows organizations down and frequently leads to "knowledge re-creation." This wasted time, where workers have to re-create information from existing paper documents or search for misplaced documents, is a drain on both productivity and profits:

• Editing or updating information requires the time consuming task of retyping the paper document--filling out forms and then collecting the data can be the most time consuming component
• Filing information and retrieving it requires time spent searching through paper files, manila folders and file cabinets
• Sharing information is limited to inefficient and costly processes such as postal mail, courier or fax machines--keeping information confidential is often a deterrent to sharing information digitally
• Critical documents are not backed up electronically for effective disaster recovery.
• Currently available OCR software included with a scanner, All-in-One or MFP device does not produce the quality required
• Re-formatting or re-editing of converted documents may be as time consuming as re-typing especially for documents with images, columns and tables

It all comes down to a single question for paper or electronic documents--"How do I get the document into the format I want without having to do extensive re-typing or re-editing?"

OmniPage eliminates paper and digital inefficiency by improving productivity, enhancing responsiveness and reducing storage and material costs. Organizations save significant time and money by leveraging the superior OCR and document formatting accuracy of OmniPage to instantly convert documents into the format of their choice. Retyping is eliminated, tasks are automated, information is easily accessed and productivity soars.

What's New in OmniPage Professional 17?

• New Send paper & PDF to Amazon Kindle with optimized formatting for reading and navigation
• New Hyper-Binary Conversion delivers 42% accuracy increase for scanned documents
• 23% overall accuracy increase for PDF and digital documents
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• Easy Loader allows you to quickly view, find and open multiple documents at a time
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• New support for iPhone and 2-Megapixel phone cameras
• 12% accuracy improvement for 3D-Capture using digital and mobile phone cameras
• Improved OmniPage Batch Processing with new unattended processing option
• New direct connection to Microsoft SharePoint 2007 web-repositories
• New direct connection to OpenText Hummingbird and Interwoven iManage ECM systems
• PDF/A compliance, and PDF 1.7 support

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Superior OCR accuracy
Improved OCR engines deliver 99%+ accuracy for document conversion and archiving business critical documents.

Maintain perfect formatting
Converted documents look exactly like the original and are easier to edit than ever before, complete with columns, tables, bullets and graphics.

Send to Amazon Kindle
Scan a document, automatically convert into a readable format and send it to the Kindle electronic book reader in one easy step.

Mobile document capture
Capture text with a digital camera or iPhone. Quickly convert your pictures to text documents with the most accurate 3D Correction technology available.

Works with any scanner
If your device can scan then it can work with OmniPage. Mobile scanners, desktop scanners, All-in-one and Multi-function printers all work more productively and with better accuracy using OmniPage

Supports all your favorite applications
Supports the widest range of output formats including PDF, HTML, Corel WordPerfect, Microsoft Word, Excel and PowerPoint 2007 plus many more formats.

Batch processing, amazing value
Schedule large volumes of files for batch processing from folders or email with unattended automation for real time processing of documents.

Complete forms processing
Convert paper forms to fillable and distribute electronically. OmniPage can collect data from PDF or paper forms and export to a spreadsheet or database.

Built-in automatic redaction and highlight
Redact or black out confidential text or quickly locate information with highlights. OmniPage can recognize and automatically mark up your text based on a list of key words.

Recognizes over 120 languages
Process, edit and store documents from anywhere in the world. Now includes Chinese, Japanese and Korean recognition.

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