New Zealand lights up for New Year’s as Pacific region is first to welcome 2025
By dpa
The Pacific was the first region in the world to welcome in the new year, with fireworks shows and outdoor gatherings.
As the first major international centre to welcome in the New Year, the landmarks of New Zealand’s largest city, Auckland lit up at midnight.
Seven songs made up a “midnight moment” soundtrack, synchronised with the lights, lasers and fireworks.
The five-minute and 30-second-long Sky Tower fireworks and laser display started with a 10-second countdown projected onto the base of the tower.
Following this, 500 kilograms of pyrotechnics were launched from the tower, the highest in the Southern Hemisphere.
Planning began six months ago, with 14 kilometres of electrical cabling and wiring and 1500 lines of programming code needed.
via SCMP Full Text Feed
By dpa
The Pacific was the first region in the world to welcome in the new year, with fireworks shows and outdoor gatherings.
As the first major international centre to welcome in the New Year, the landmarks of New Zealand’s largest city, Auckland lit up at midnight.
Seven songs made up a “midnight moment” soundtrack, synchronised with the lights, lasers and fireworks.
The five-minute and 30-second-long Sky Tower fireworks and laser display started with a 10-second countdown projected onto the base of the tower.
Following this, 500 kilograms of pyrotechnics were launched from the tower, the highest in the Southern Hemisphere.
Planning began six months ago, with 14 kilometres of electrical cabling and wiring and 1500 lines of programming code needed.
via SCMP Full Text Feed
Kung fu nuns showcase martial arts at Nepal monastery reopening after Covid-19 closure
By Reuters
About a dozen nuns performed hand chops and high kicks, some of them wielding swords, as they showed off their martial art skills to hundreds of cheering well-wishers at the long-awaited reopening of their nunnery in Nepal.
The nuns of the hilltop Druk Amitabha Monastery, put on the show of strength to mark the institution’s reopening five years after the Covid-19 pandemic forced it to close its doors to the public.
The group of kung fu nuns, aged from 17 to 30, are members of the 1,000 year-old Drukpa lineage, which gives nuns equal status as monks and is the only female order in the patriarchal Buddhist monastic system.
Usually, nuns are expected to cook and clean and are not allowed to practise any form of martial art. But His Holiness Gyalwang Drukpa, a monk who ranks only slightly below the Dalai Lama in the Tibetan Buddhist hierarchy, decided to train women in kung fu to improve their health and spiritual well-being.
He opened the nunnery in 2009, and it now has 300 members aged between six and 54.
via SCMP Full Text Feed
By Reuters
About a dozen nuns performed hand chops and high kicks, some of them wielding swords, as they showed off their martial art skills to hundreds of cheering well-wishers at the long-awaited reopening of their nunnery in Nepal.
The nuns of the hilltop Druk Amitabha Monastery, put on the show of strength to mark the institution’s reopening five years after the Covid-19 pandemic forced it to close its doors to the public.
The group of kung fu nuns, aged from 17 to 30, are members of the 1,000 year-old Drukpa lineage, which gives nuns equal status as monks and is the only female order in the patriarchal Buddhist monastic system.
Usually, nuns are expected to cook and clean and are not allowed to practise any form of martial art. But His Holiness Gyalwang Drukpa, a monk who ranks only slightly below the Dalai Lama in the Tibetan Buddhist hierarchy, decided to train women in kung fu to improve their health and spiritual well-being.
He opened the nunnery in 2009, and it now has 300 members aged between six and 54.
via SCMP Full Text Feed
Gaza healthcare nearing ‘total collapse’ due to Israeli strikes: UN
By Agence France-Presse
A United Nations report published on Tuesday found that Israeli strikes on and near hospitals in the Gaza Strip had left healthcare in the Palestinian territory on the verge of collapse.
The report by the UN human rights office said such strikes raised grave concerns about Israel’s compliance with international law.
“Israel’s pattern of deadly attacks on and near hospitals in Gaza, and associated combat, pushed the healthcare system to the brink of total collapse, with catastrophic effect on Palestinians’ access to health and medical care,” the UN human rights office said in a statement.
Its 23-page report, entitled “Attacks on hospitals during the escalation of hostilities in Gaza”, looked at the period from October 7, 2023 to June 30, 2024.
It said that during this time, there were at least 136 strikes on 27 hospitals and 12 other medical facilities, claiming significant casualties among doctors, nurses, doctors and other civilians and causing significant damage to, if not the complete destruction of, civilian infrastructure.
The report noted that medical personnel and hospitals are specifically protected under international humanitarian law, provided they do not commit, or are not used to commit, acts harmful to the enemy outside their humanitarian function.
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By Agence France-Presse
A United Nations report published on Tuesday found that Israeli strikes on and near hospitals in the Gaza Strip had left healthcare in the Palestinian territory on the verge of collapse.
The report by the UN human rights office said such strikes raised grave concerns about Israel’s compliance with international law.
“Israel’s pattern of deadly attacks on and near hospitals in Gaza, and associated combat, pushed the healthcare system to the brink of total collapse, with catastrophic effect on Palestinians’ access to health and medical care,” the UN human rights office said in a statement.
Its 23-page report, entitled “Attacks on hospitals during the escalation of hostilities in Gaza”, looked at the period from October 7, 2023 to June 30, 2024.
It said that during this time, there were at least 136 strikes on 27 hospitals and 12 other medical facilities, claiming significant casualties among doctors, nurses, doctors and other civilians and causing significant damage to, if not the complete destruction of, civilian infrastructure.
The report noted that medical personnel and hospitals are specifically protected under international humanitarian law, provided they do not commit, or are not used to commit, acts harmful to the enemy outside their humanitarian function.
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Hong Kong floats land premium offer to boost interest in 2 large sites
By Edith LinVivian Au
Developers could pay lower land premiums for two of three large sites in Hong Kong under a pilot scheme in the Northern Metropolis if they surrendered industrial sites in urban areas or even relocated facilities to the parcels, the government suggested on Tuesday.
The Development Bureau floated the incentive as it invited industry players to submit expressions of interest by the end of March before rolling out tenders later in 2025 and 2026 for three parcels of land each sized between 10 and 20 hectares in the northern New Territories.
Under the pilot scheme, developers can pay a lower land premium for conducting site formation work and building public facilities for the government, while keeping private residential plots for profit.
The incentive aims to promote modern industrial development at two sites in Hung Shui Kiu and Fanling North.
The Hung Shui Kiu site has 45 per cent of its 12.5 hectares reserved for “enterprise and technology park” purposes including commercial and convention uses, while one-third of the 15.9 hectares of the Fanling North one is earmarked for logistics facilities.
Noting that many industrial facilities were located in urban areas, the bureau asked if developers would be more interested in joining the bid if they could pay less land premium for surrendering such sites in urban areas to the government, or even relocating their operation to the two parcels.
via SCMP Full Text Feed
By Edith LinVivian Au
Developers could pay lower land premiums for two of three large sites in Hong Kong under a pilot scheme in the Northern Metropolis if they surrendered industrial sites in urban areas or even relocated facilities to the parcels, the government suggested on Tuesday.
The Development Bureau floated the incentive as it invited industry players to submit expressions of interest by the end of March before rolling out tenders later in 2025 and 2026 for three parcels of land each sized between 10 and 20 hectares in the northern New Territories.
Under the pilot scheme, developers can pay a lower land premium for conducting site formation work and building public facilities for the government, while keeping private residential plots for profit.
The incentive aims to promote modern industrial development at two sites in Hung Shui Kiu and Fanling North.
The Hung Shui Kiu site has 45 per cent of its 12.5 hectares reserved for “enterprise and technology park” purposes including commercial and convention uses, while one-third of the 15.9 hectares of the Fanling North one is earmarked for logistics facilities.
Noting that many industrial facilities were located in urban areas, the bureau asked if developers would be more interested in joining the bid if they could pay less land premium for surrendering such sites in urban areas to the government, or even relocating their operation to the two parcels.
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South Korea’s Jeju Air crash: calls for removal of runway wall, as scrutiny intensifies
By Park Chan-kyong
Scrutiny over a runway wall that Jeju Air flight 7C2216 slammed into intensified on Tuesday, with experts calling for the removal of the structure at Muan Airport and other terminals across South Korea.
The doomed flight carrying 181 people on board had attempted a wheelless or so-called belly landing amid undercarriage issues suspected to be caused by a bird strike, skidding and crashing into the mount some 250 metres beyond the runway.
There were only two survivors from Sunday’s tragedy – both cabin crew members found at the tail section of the ravaged plane.
More details of communication from the pilots surfaced on Tuesday, with the transport ministry saying the plane had sent a distress signal to the control tower at 8.59am, two minutes after it was warned of a flock of birds nearby.
“Mayday, mayday, mayday. Bird strike, bird strike. [We’re] going around,” the pilot was quoted as saying to the control tower.
Four minutes later, the plane touched down without deploying its landing gear, skidded along the runway at high speed and slammed into the barrier in question, triggering an explosion.
via SCMP Full Text Feed
By Park Chan-kyong
Scrutiny over a runway wall that Jeju Air flight 7C2216 slammed into intensified on Tuesday, with experts calling for the removal of the structure at Muan Airport and other terminals across South Korea.
The doomed flight carrying 181 people on board had attempted a wheelless or so-called belly landing amid undercarriage issues suspected to be caused by a bird strike, skidding and crashing into the mount some 250 metres beyond the runway.
There were only two survivors from Sunday’s tragedy – both cabin crew members found at the tail section of the ravaged plane.
More details of communication from the pilots surfaced on Tuesday, with the transport ministry saying the plane had sent a distress signal to the control tower at 8.59am, two minutes after it was warned of a flock of birds nearby.
“Mayday, mayday, mayday. Bird strike, bird strike. [We’re] going around,” the pilot was quoted as saying to the control tower.
Four minutes later, the plane touched down without deploying its landing gear, skidded along the runway at high speed and slammed into the barrier in question, triggering an explosion.
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Fraser Stoddart, Nobel laureate and professor at University of Hong Kong, dies
By William Yiu
Fraser Stoddart, a Nobel laureate in chemistry and chair professor at the University of Hong Kong (HKU) hailed for changing the way chemists think about materials science and molecular nanotechnology, has died. He was 82.
HKU said on Tuesday it was deeply saddened by the death of Stoddart, who received his Nobel Prize in 2016 and joined the department of chemistry last year.
The cause of death has not been disclosed.
“The university was privileged to have Professor Stoddart as a chair professor in the department of chemistry, where he established a cutting-edge laboratory to advance research in a wide range of areas, including molecular machines and carbohydrate chemistry,” the university said.
“Together with the team of outstanding scholars and students he assembled, Professor Stoddart contributed to the enhancement of HKU’s profile and prestige as a leading institution in teaching and research globally.”
Stoddart joined HKU in September last year amid an escalating row between university president Xiang Zhang and Priscilla Wong Pui-sze, chairwoman of the school’s governing council.
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By William Yiu
Fraser Stoddart, a Nobel laureate in chemistry and chair professor at the University of Hong Kong (HKU) hailed for changing the way chemists think about materials science and molecular nanotechnology, has died. He was 82.
HKU said on Tuesday it was deeply saddened by the death of Stoddart, who received his Nobel Prize in 2016 and joined the department of chemistry last year.
The cause of death has not been disclosed.
“The university was privileged to have Professor Stoddart as a chair professor in the department of chemistry, where he established a cutting-edge laboratory to advance research in a wide range of areas, including molecular machines and carbohydrate chemistry,” the university said.
“Together with the team of outstanding scholars and students he assembled, Professor Stoddart contributed to the enhancement of HKU’s profile and prestige as a leading institution in teaching and research globally.”
Stoddart joined HKU in September last year amid an escalating row between university president Xiang Zhang and Priscilla Wong Pui-sze, chairwoman of the school’s governing council.
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China banks on festive handouts and tighter security to ward off social instability
By William Zheng
Local governments across China are tightening security and giving handouts to underprivileged groups to try to ensure social stability over the holiday and legislative season.
In addition to the annual weeklong Lunar New Year holiday, meetings of provincial legislature and political consultative bodies will take place in January and February to select deputies for the national sessions – a particularly sensitive time on the country’s political calendar.
At a municipal work planning meeting in Beijing on Sunday, Communist Party boss Yin Li told cadres to “thoroughly investigate and resolve disputes, and make every effort to maintain social stability”, according to Beijing Daily.
Yin also told officials to take care of people in need “with heart and affection” during the festive season, respond to residents’ complaints immediately and resolve urgent problems faced by the public.
He also warned about industrial safety risks and threats from natural disasters, urging the city to prepare for extreme weather events such as blizzards and cold snaps.
The city should have cadres on duty round the clock to respond rapidly to emergencies, he said.
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By William Zheng
Local governments across China are tightening security and giving handouts to underprivileged groups to try to ensure social stability over the holiday and legislative season.
In addition to the annual weeklong Lunar New Year holiday, meetings of provincial legislature and political consultative bodies will take place in January and February to select deputies for the national sessions – a particularly sensitive time on the country’s political calendar.
At a municipal work planning meeting in Beijing on Sunday, Communist Party boss Yin Li told cadres to “thoroughly investigate and resolve disputes, and make every effort to maintain social stability”, according to Beijing Daily.
Yin also told officials to take care of people in need “with heart and affection” during the festive season, respond to residents’ complaints immediately and resolve urgent problems faced by the public.
He also warned about industrial safety risks and threats from natural disasters, urging the city to prepare for extreme weather events such as blizzards and cold snaps.
The city should have cadres on duty round the clock to respond rapidly to emergencies, he said.
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Young man in China forced to remove skull-tattoo on face after struggling to find job
By Yating Yang
A young man in China whose entire face is tattooed with a skull design leading to employment problems, has decided to undergo the painful process of tattoo removal.
He has also expressed deep regret and a desire to return to a normal life.
The 24-year-old, known as Xiaolong, is from Liaoning province in northeastern China.
Since 2018, he has adorned his body with tattoos, covering his face with a skull pattern, and his head, neck, limbs, and even tattooing the sclera of his left eye.
“I was rebellious back then, using tattoos as an outlet for my unhappiness,” Xiaolong said.
However, the tattoos brought considerable challenges, especially in his professional life.
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By Yating Yang
A young man in China whose entire face is tattooed with a skull design leading to employment problems, has decided to undergo the painful process of tattoo removal.
He has also expressed deep regret and a desire to return to a normal life.
The 24-year-old, known as Xiaolong, is from Liaoning province in northeastern China.
Since 2018, he has adorned his body with tattoos, covering his face with a skull pattern, and his head, neck, limbs, and even tattooing the sclera of his left eye.
“I was rebellious back then, using tattoos as an outlet for my unhappiness,” Xiaolong said.
However, the tattoos brought considerable challenges, especially in his professional life.
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Hong Kong launches anti-rodent charter to improve environmental hygiene
By Vivian Au
A charter on anti-rodent measures for commercial and residential buildings in Hong Kong was launched on Tuesday to boost awareness of environmental hygiene and pledge greater technical support, following a rise in the pests’ infestation rate in the city last year.
The Food and Environmental Hygiene Department said on Tuesday premises participating in the Anti-rodent Charter must assign liaison ambassadors to conduct regular inspections and maintenance of their facilities.
“The department is considering extending the charter to other sectors in due course, based on the experiences from the first phase of the Anti-Rodent Charter,” a spokesperson said.
According to a department survey, the rodent infestation rate for 2023 was 3.8 per cent, higher than the 3.3 per cent recorded in 2022.
To combat the problem, the department said they would invite various parties, including property management companies, owners’ corporations, and residents’ organizations of private residential premises to sign the charter.
Apart from implementing anti-rodent measures, participants would need to monitor the quality and performance of their hired anti-rodent service contractors and maintain relevant records of anti-rodent work.
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By Vivian Au
A charter on anti-rodent measures for commercial and residential buildings in Hong Kong was launched on Tuesday to boost awareness of environmental hygiene and pledge greater technical support, following a rise in the pests’ infestation rate in the city last year.
The Food and Environmental Hygiene Department said on Tuesday premises participating in the Anti-rodent Charter must assign liaison ambassadors to conduct regular inspections and maintenance of their facilities.
“The department is considering extending the charter to other sectors in due course, based on the experiences from the first phase of the Anti-Rodent Charter,” a spokesperson said.
According to a department survey, the rodent infestation rate for 2023 was 3.8 per cent, higher than the 3.3 per cent recorded in 2022.
To combat the problem, the department said they would invite various parties, including property management companies, owners’ corporations, and residents’ organizations of private residential premises to sign the charter.
Apart from implementing anti-rodent measures, participants would need to monitor the quality and performance of their hired anti-rodent service contractors and maintain relevant records of anti-rodent work.
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Honey collector from Thailand with huge following laments Chiang Mai’s deforestation
By Aidan Jones
A honey collector from Thailand who posts viral videos of his daring tree-climbing missions to reach bee hives has warned of the damage that mass fruit farming is doing to natural forests in the country’s north.
Pran Tee, an ethnic Karen with Thai nationality, has over 320,000 followers on his Facebook page ‘Pran Tee Chiang Mai’, who are drawn to his traditional methods of harvesting honey from shared community forests near his village two hours outside Chiang Mai.
In his regular posts, filmed by his wife, Pran Tee searches through forests for hives, climbs tall trees effortlessly without ropes and smokes out the bees, wearing just a jumper, jeans and a woolly hat for protection.
Videos of his foraging technique – in which he carves foot-long chunks of mouthwatering honeycomb from bee hives – have gone viral, some racking up millions of plays.
In one October 26 video that has garnered 950,000 plays on Facebook, Pran Tee lies on a thin branch as he expertly carves honeycomb into a plastic bag. His latest post on Monday showing him smoking a bee hive has been played nearly 100,000 times so far.
Pran Tee says he first picked up the skill as a 10-year-old from his father, who took him along on honey-collecting missions. He has given up a job as a labourer to pursue his passion and spend more time at home with his wife and their six-year-old child.
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By Aidan Jones
A honey collector from Thailand who posts viral videos of his daring tree-climbing missions to reach bee hives has warned of the damage that mass fruit farming is doing to natural forests in the country’s north.
Pran Tee, an ethnic Karen with Thai nationality, has over 320,000 followers on his Facebook page ‘Pran Tee Chiang Mai’, who are drawn to his traditional methods of harvesting honey from shared community forests near his village two hours outside Chiang Mai.
In his regular posts, filmed by his wife, Pran Tee searches through forests for hives, climbs tall trees effortlessly without ropes and smokes out the bees, wearing just a jumper, jeans and a woolly hat for protection.
Videos of his foraging technique – in which he carves foot-long chunks of mouthwatering honeycomb from bee hives – have gone viral, some racking up millions of plays.
In one October 26 video that has garnered 950,000 plays on Facebook, Pran Tee lies on a thin branch as he expertly carves honeycomb into a plastic bag. His latest post on Monday showing him smoking a bee hive has been played nearly 100,000 times so far.
Pran Tee says he first picked up the skill as a 10-year-old from his father, who took him along on honey-collecting missions. He has given up a job as a labourer to pursue his passion and spend more time at home with his wife and their six-year-old child.
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‘Sectors in distress’: China’s intense competition demands action, economic official warns
By Alice Li
China should take action to abate low-quality vicious competition resulting in neijuan, or “involution”, and encourage high-quality development, a senior economic official said in an article published by the official newspaper of the Communist Party.
“Intensified involutionary competition in certain industries has driven down product prices, reducing profitability and putting some sectors in distress,” wrote Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission’s general office, in a piece published by People’s Daily on Tuesday.
“We should focus on raising standards in environmental protection, energy use, and technology, as well as accelerating industry mergers and reorganisations,” Han said, adding that competition that fosters growth should be encouraged while a “race to the bottom” should be curbed.
“Involutionary competition” refers to cutthroat competition wherein a rise in resource investment fails to generate proportional returns or support reinvestment in research and development.
It has been one of the major obstacles in China’s economy, as such intense internal competition is now prevalent in several sectors.
Echoing Han’s comments, Li Shufu, the founder and chairman of Geely, one of the major automobile manufacturers in China, pledged to “firmly oppose the vicious involutionary competition” in his year-end speech on Tuesday.
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By Alice Li
China should take action to abate low-quality vicious competition resulting in neijuan, or “involution”, and encourage high-quality development, a senior economic official said in an article published by the official newspaper of the Communist Party.
“Intensified involutionary competition in certain industries has driven down product prices, reducing profitability and putting some sectors in distress,” wrote Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission’s general office, in a piece published by People’s Daily on Tuesday.
“We should focus on raising standards in environmental protection, energy use, and technology, as well as accelerating industry mergers and reorganisations,” Han said, adding that competition that fosters growth should be encouraged while a “race to the bottom” should be curbed.
“Involutionary competition” refers to cutthroat competition wherein a rise in resource investment fails to generate proportional returns or support reinvestment in research and development.
It has been one of the major obstacles in China’s economy, as such intense internal competition is now prevalent in several sectors.
Echoing Han’s comments, Li Shufu, the founder and chairman of Geely, one of the major automobile manufacturers in China, pledged to “firmly oppose the vicious involutionary competition” in his year-end speech on Tuesday.
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Angelina Jolie, Brad Pitt reach divorce settlement after 8 years
By Reuters
Actors Angelina Jolie and Brad Pitt have reached a divorce settlement, her lawyer told Reuters on Tuesday, bringing an end to one of Hollywood’s most contentious and closely followed celebrity splits.
Jolie filed for a divorce from Pitt, her husband of two years and romantic partner since 2005, eight years ago. The relationship between two of Hollywood’s most well-known actors had provided steady fodder for the tabloid media for years.
“This is just one part of a long ongoing process that started eight years ago. Frankly, Angelina is exhausted, but she is relieved this one part is over,” Jolie’s lawyer James Simon said in a statement, adding that a divorce settlement has been finalised, signed and filed with the court.
No details of the settlement were immediately revealed. Pitt’s representatives did not immediately respond to a Reuters request for comment outside of regular business hours.
Oscar-winning Jolie cited irreconcilable differences in the divorce filing. She subsequently sought full physical custody of their six children, then aged 8 to 15 with visitation rights for Pitt.
The filing triggered a bitter custody dispute, during which Pitt was investigated and cleared of child abuse. Both sides accused each other of trying to manipulate media coverage in their favour. The couple initially reached a custody decision through a private judge, granting equal custody of their children.
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By Reuters
Actors Angelina Jolie and Brad Pitt have reached a divorce settlement, her lawyer told Reuters on Tuesday, bringing an end to one of Hollywood’s most contentious and closely followed celebrity splits.
Jolie filed for a divorce from Pitt, her husband of two years and romantic partner since 2005, eight years ago. The relationship between two of Hollywood’s most well-known actors had provided steady fodder for the tabloid media for years.
“This is just one part of a long ongoing process that started eight years ago. Frankly, Angelina is exhausted, but she is relieved this one part is over,” Jolie’s lawyer James Simon said in a statement, adding that a divorce settlement has been finalised, signed and filed with the court.
No details of the settlement were immediately revealed. Pitt’s representatives did not immediately respond to a Reuters request for comment outside of regular business hours.
Oscar-winning Jolie cited irreconcilable differences in the divorce filing. She subsequently sought full physical custody of their six children, then aged 8 to 15 with visitation rights for Pitt.
The filing triggered a bitter custody dispute, during which Pitt was investigated and cleared of child abuse. Both sides accused each other of trying to manipulate media coverage in their favour. The couple initially reached a custody decision through a private judge, granting equal custody of their children.
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Taiwan tensions to grow in 2025, but risk of war low as Taipei divisions distract: report
By Sylvie Zhuang
The year 2025 will see tensions in the Taiwan Strait grow, but the risk of war remains low as the island’s leader, William Lai Ching-te, is expected to direct his energy towards mending internal political divisions, according to a forecast by a Hong Kong-based think tank.
Lai’s attention is likely to be focused on the island’s internal political struggles and his political opponents, said the report from Centre for Globalisation Hong Kong.
He is also expected to rely on external forces – possibly Washington and its allies – to carry out his political agenda, according to the report.
Taiwan has braced for more political turbulence since its opposition-controlled legislature passed three bills earlier this month that could curtail the powers of the ruling Democratic Progressive Party (DPP).
The bills involve amendments to the election and recall law, constitutional court procedure law, and government funding allocations. The move triggered conflicts in Taiwan’s parliament and protests by thousands of DPP supporters.
The report added that Lai would not “actively provoke conflicts” with Beijing.
Beijing sees Taiwan as part of China to be reunited by force, if necessary. The United States, like most countries, does not recognise the self-governed island as an independent state but is opposed to any attempt to take it by force and is legally bound to arm it for defence.
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By Sylvie Zhuang
The year 2025 will see tensions in the Taiwan Strait grow, but the risk of war remains low as the island’s leader, William Lai Ching-te, is expected to direct his energy towards mending internal political divisions, according to a forecast by a Hong Kong-based think tank.
Lai’s attention is likely to be focused on the island’s internal political struggles and his political opponents, said the report from Centre for Globalisation Hong Kong.
He is also expected to rely on external forces – possibly Washington and its allies – to carry out his political agenda, according to the report.
Taiwan has braced for more political turbulence since its opposition-controlled legislature passed three bills earlier this month that could curtail the powers of the ruling Democratic Progressive Party (DPP).
The bills involve amendments to the election and recall law, constitutional court procedure law, and government funding allocations. The move triggered conflicts in Taiwan’s parliament and protests by thousands of DPP supporters.
The report added that Lai would not “actively provoke conflicts” with Beijing.
Beijing sees Taiwan as part of China to be reunited by force, if necessary. The United States, like most countries, does not recognise the self-governed island as an independent state but is opposed to any attempt to take it by force and is legally bound to arm it for defence.
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Chery adds JPMorgan to help arrange US$1 billion initial public offering in Hong Kong
By Bloomberg
Chery Holding Group has added JPMorgan Chase & Co. to help arrange a potential listing of its automotive unit in Hong Kong next year, according to people familiar with the matter.
The Chinese group has selected JPMorgan as it moves forward with an initial public offering of Chery Automobile Co., which could help it raise up to US$1 billion, the people said, asking not to be identified because the deliberations are private. A share sale could take place in the second or third quarter, the people said.
Chery had picked China International Capital Corp., GF Securities and Huatai International as arrangers for a potential listing next year, Bloomberg News reported in October. The company may seek a valuation of more than 100 billion yuan (US$14 billion), people familiar with the matter have said.
Considerations are ongoing and details such as timing, size and value could change, the people said, adding that other banks may also join the group of lenders arranging the share sale.
A representative for Chery did not respond to a request seeking comment, while JPMorgan declined to comment.
Chery Auto is one of China’s biggest car exporters and one of only a few not listed. It is a key asset for Chery Group, which is also involved in financial services and real estate.
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By Bloomberg
Chery Holding Group has added JPMorgan Chase & Co. to help arrange a potential listing of its automotive unit in Hong Kong next year, according to people familiar with the matter.
The Chinese group has selected JPMorgan as it moves forward with an initial public offering of Chery Automobile Co., which could help it raise up to US$1 billion, the people said, asking not to be identified because the deliberations are private. A share sale could take place in the second or third quarter, the people said.
Chery had picked China International Capital Corp., GF Securities and Huatai International as arrangers for a potential listing next year, Bloomberg News reported in October. The company may seek a valuation of more than 100 billion yuan (US$14 billion), people familiar with the matter have said.
Considerations are ongoing and details such as timing, size and value could change, the people said, adding that other banks may also join the group of lenders arranging the share sale.
A representative for Chery did not respond to a request seeking comment, while JPMorgan declined to comment.
Chery Auto is one of China’s biggest car exporters and one of only a few not listed. It is a key asset for Chery Group, which is also involved in financial services and real estate.
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