AUSTRALIAN – CHINA

One absent ambassador and two useful idiots

roymorgansocial Leave a comment

Original article by Will Glasgow
The Australian – Page: 1 & 11 : 3-Sep-25

The Chinese government’s Victory Day parade in Beijing will be attended by the leaders of Russia, North Korea, Iran and Myanmar. Australia’s ambassador to China, Scott Dewar, will be a notable absentee, and the nation will be represented by a defence attache and political counsellor from the embassy; in contrast, the then-minister for veteran affairs Michael Ronaldson represented Australia in 2015. Sources have stated that there is "no way" Labor would send a government representative to an event being attended by Russian President Vladimir Putin. The sources have stressed that former state premiers Bob Carr and Daniel Andrews are attending the event in their personal capacity; Carr is also an ex-foreign minister.

CORPORATES
AUSTRALIAN LABOR PARTY

Cochlear takes long-term view on China

roymorgansocial Leave a comment

Original article by Jared Lynch
The Australian – Page: 15 : 23-Feb-22

Hearing implant maker Cochlear has posted a 2021-22 interim net profit of $169.3m, which is 28 per cent lower than previously. However, its underlying net profit rose 26 per cent to $158m and revenue was 10 per cent higher at $815.3m. Shareholders will receive an interim dividend of $1.55 per share, which is 35 per cent higher than previously. Meanwhile, CEO Dig Howitt says the ongoing tensions between Australia and China will not affect Cochlear’s investment plans in China; the company is about to commission a $50m manufacturing plant in China, and Howitt says it is committed to China for the long-term.

CORPORATES
COCHLEAR LIMITED – ASX COH

Chinese Communist Party insiders infiltrate Western consulates

roymorgansocial Leave a comment

Original article by Sharri Markson
The Australian – Page: 1 & 7 : 14-Dec-20

Members of the Chinese Communist Party are working in at least 10 foreign consulates in Shanghai, including those of Australia, the US and the UK. This follows the examination of a leaked copy of CCP membership records, which has also found that CCP members are working in companies such as Boeing and AstraZeneca, as well as Western universities. Australia hires local staff for its Shanghai consulate through the Shanghai Foreign Agency Service Department, which is a Chinese government agency, and the leaked database indicates that it has at least 12 active CCP branches

CORPORATES
COMMUNIST PARTY (CHINA), BOEING COMPANY, ASTRAZENECA PLC

ANZ leads in the big four investing game

roymorgansocial Leave a comment

Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 4-Jan-17

The ANZ Banking Group is selling its 20 per cent stake in the Shanghai Rural Commercial Bank for $A1.8 billion. The transaction will have a positive effect on the bank’s common equity tier 1 capital ratio, raising it to the highest level among Australia’s big four banks. Shareholders have reasons to be satisfied. The bank is likely to increase its return on equity.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

ANZ fires up Asia exit in $1.8b sale

roymorgansocial Leave a comment

Original article by James Frost
The Australian Financial Review – Page: 1 : 4-Jan-17

ANZ Banking Group is retreating from Asia, with the latest transaction being the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $A1.8 billion. The stake is being acquired in two equal tranches by China COSCO Shipping Corporation and Shanghai Sino Poland Enterprise Management Development Corporation. The sale will result in a rise in ANZ’s tier one capital ratio from 9.6 per cent to 10 per cent.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, CHINA COSCO SHIPPING CORPORATION, SHANGHAI SINO POLAND ENTERPRISE MANAGEMENT DEVELOPMENT CORPORATION, BANK OF TIANJIN COMPANY LIMITED, AMBANK BERHAD

CBA to continue march into China

roymorgansocial Leave a comment

Original article by Scott Murdoch
The Australian – Page: 17 : 22-Aug-14

Simon Blair, head of international financial services at Commonwealth Bank of Australia (CBA), says its push into the Chinese market has a focus on the regions. It has launched 15 banks in such areas since 2011, the latest being Handanxian County Bank in Hebei province. CBA has full ownership of a third of the businesses, and stakes of 80% each in the remainder. The Chinese county banks have recorded 13% growth in lending and 97% in deposits during 2013-14

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, HANDANXIAN COUNTY BANK

China offers chance to take stake in banks

roymorgansocial Leave a comment

Original article by Angus Grigg, Lisa Murray
The Australian Financial Review – Page: 8 : 30-Jun-14

China is offering Australian banks the opportunity to invest in its five largest banks. During a visit to China in late June 2014, Federal Treasurer Joe Hockey was informed that the Chinese Government planned to further sell down its holdings in the five lenders. They are Industrial & Commercial Bank of China, Bank of China, Bank of Communications, China Construction Bank and Agricultural Bank of China

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, INDUSTRIAL AND COMMERCIAL BANK OF CHINA, BANK OF CHINA GROUP, BANK OF COMMUNICATIONS, CHINA CONSTRUCTION BANK, AGRICULTURAL BANK OF CHINA, CHINA. NATIONAL DEVELOPMENT REFORM COMMISSION, CHINA. MINISTRY OF FINANCE, THE GOLDMAN SACHS GROUP INCORPORATED, PEKING UNIVERSITY, CHINA CENTRE FOR ECONOMIC RESEARCH, UBS AG, ROYAL BANK OF SCOTLAND GROUP PLC, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, KING AND WOOD MALLESONS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CHINA BANKING REGULATORY COMMISSION