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BerichtGeplaatst: 03-09-2018 09:54:44    Onderwerp: UNDERMINED INTEGRITY Reageren met citaat
TAIYUAN James Van Riemsdyk Jersey , China, Nov. 8 (Xinhua) -- The eye-catching ownership crisis of the Chinese Basketball Association (CBA) club Shanxi Zhongyu, which lasted over half a year, will end soon, sources told Xinhua on Friday.


According to the sources, Shanxi Fenjiu Group, a listed wine corporation, had reached an agreement with Beijing Enterprises Group Co. Ltd, the current biggest stakeholder of the basketball club, on the share transfer.


A press conference will be held on Saturday concerning the issue.


The crisis was made public at the end of April when Shanxi Zhongyu announced that the Beijing Group became its new owner. However, the ownership change has not got the approval from the Shanxi Provincial Sports Bureau, which, according to the CBA rules, is a prerequisite for a club to compete in the league.


Furthermore, the club's home ground move from Shanxi provincial captial Taiyuan to Beijing has also been pending.


Shanxi Fenjiu Group showed its willingness to take Shanxi Zhongyu at the early stage of the crisis, but the negotiations were very tough and got stuck for quite a long time.


On Oct. 31, the CBA unveiled its 201314 season schedule in which the home ground for Shanxi Zhongyu is still Taiyuan.


Shanxi Zhongyu, a professional basketball team in the North Division of the CBA, is originally known as Henan Renhe due to corporate sponsorship from Henan Renhe Group. It moved its base from Henan Province to Taiyuan in the 200607 season and used the name Shanxi Zhongyu from then on.


In January 2010, Shanxi Zhongyu signed former NBA star Stephon Marbury who is playing for Beijing Ducks now and won the league title with Beijing in 2012.


Related:


Asset appraisal paves way for acquisition of CBA club Shanxi Zhongyu


TAIYUAN, China, Sept. 8 (Xinhua) --- Shanxi Zhongyu has been valued at 151.61 million yuan (about 24.77 million U.S. dollars) by an independent asset appraisal agency, paving the way for the Shanxi-based Chinese Basketball Association (CBA) League side to switch its home ground to Beijing.

  Ten people have died after a fire in a residential building in northern China's Tianjin early Friday

TIANJIN, Dec. 1 (Xinhua) -- Ten people have died after a fire in a residential building in northern China's Tianjin early Friday, according to local authorities.


Another five suffered minor injuries and have been hospitalized.


The fire broke out on the 38th floor of an apartment building in the city's Hexi District at 4:07 a.m., according to the local fire department.

  Ten people have died after a fire in a residential building in northern China's Tianjin early Friday

The fire was extinguished at 6:40 a.m. Firefighters said an area of about 300 square meters was damaged.


The cause of the fire is currently unconfirmed, but it is believed to have started in an area with housing interior decoration materials.


The municipal government has ordered a citywide safety inspection.


Traffic controls in the area have been lifted. People believed to be responsible for the fire are being held for further investigation.

  Ten people have died after a fire in a residential building in northern China's Tianjin early Friday



BEIJING, Dec. 4 (Xinhua) -- The United States is throwing cold water on the growing geniality of trade relations between itself and China with its rebuke of the latter's bid for recognition as a market economy in the World Trade Organization (WTO).


The U.S. government recently formally opposed to China's bid, citing decades of legal precedent and what it sees as signs the country is moving in the opposite direction.


The truth is that denial of such status for China will give the U.S. government useful tools to launch trade probes into Chinese imports under the excuses of dumping goods at unfair price advantages.


REFUSAL DISTORTS FACTS


The U.S. decision comes as the Trump administration is seeking to bridge the trade deficit with China for the so-called fair and balanced trade. To achieve that end, it is tempting to turn a blind eye to China's concrete moves of market liberalization, international observers said.


Since China has implemented the opening up and reform policy, it has made consistent efforts to improve its market economy system, which has won global recognition. The U.S. refusal distorts facts, according to a spokesperson for the Ministry of Commerce.


China is now the world's largest goods trading nation, being the top trading partner of more than 120 countries and regions.


Su Qingyi, a researcher with the Chinese Academy of Social Sciences, said the "non-market economy status" has not held China back from making those achievements.


The United States will not benefit from a battered bilateral trade relationship considering its interwoven interests with China. Protectionist measures also impair the interests of U.S. companies and consumers.


Over the past three decades, bilateral goods trade surged from 2.5 billion to 524.3 billion U.S. dollars. Low-cost and high-quality Chinese products have helped raise the living standard of Americans.


While much of the U.S. political campaign rhetoric focused on jobs leaving the United States, Chinese investment is supporting more jobs on that side of the Pacific.


UNDERMINED INTEGRITY


In response to the U.S. rejection, Chinese commerce ministry official Wang Hejun said it undermines the seriousness and authority of multilateral rules.


Article 15 of the Protocol on China's accession to the WTO in 2001 has clearly dictated that China will automatically switch over to market economy status when the surrogate country approach expires in 15 years, which means, on that day, the legal foundation for treating China as a non-market economy is gone.


The United States is setting a bad example by breaking in. Cheap NFL Jerseys China Cheap Jerseys From China Cheap NHL Jerseys From China Cheap NFL Jerseys Online Cheap NFL Jerseys China Cheap NFL Jerseys Free Shipping Cheap NFL Throwback Jerseys Wholesale Jerseys China Wholesale NFL Jerseys Wholesale NFL Jerseys
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