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News from China
China-UK movie that is wild about cats
21st November 2016

 THE film unit of Chinese e-commerce giant Alibaba and the British “Harry Potter” 

producer David Heyman announced yesterday that they will make a fantasy movie “Warriors” 
based on a book series about warring cats.
 
The live action film with computer-generated cats is based on the British books for young 
adults about clans of wild cats, with themes including adventure, forbidden love and good 
versus evil.
 
The series has a fan following in countries including China, and the film is intended for 
worldwide audiences.
 
Heyman, an independent film producer behind “Paddington” and “Gravity,” said he sought out 
Alibaba when he was in China almost two years ago on a trip to promote British creativity 
and British-Chinese cultural exchange.
 
“This is becoming the largest market in the world so you are looking to understand that market,” 
he said at a news conference at the British Embassy in Beijing.
 
“It’s hard to get a film made today. I’ve had some success but every time you start a film you start 
a new business, so I’m always looking for people over the world.”
 
He said “Warriors” was a “perfect Chinese-British story because its values are universal.”
 
Heyman added it was too early to say how much of the creative team would be Chinese and they 
still did not have a script for the film, which would likely be in 3D.
 
There was no guarantee the movie would be shown in China, he said.
 
Alibaba Pictures Group was formed in 2014. Its first film, “The Ferryman,” comes out next month.
 
It has already invested in Hollywood films including “Mission: Impossible — Rogue Nation” and 
“Star Trek Beyond,” and last month announced it would partner with Stephen Spielberg’s Amblin 
Partners to co-produce films for global audiences.
 
Alibaba Pictures secured the film rights to “Warriors” last month.
Source: Shanghai Daily, November 21, 2016
China imposes anti-dumping duties on iron based alloy ribbon imports
18th November 2016

 THE Ministry of Commerce (MOC) announced Friday that it will impose 

anti-dumping duties on imports of iron based amorphous alloy ribbon 
from the United States and Japan.
 
The duties will last for five years starting Friday, the ministry said.
 
According to the ministry's final ruling, companies from the United States
 and Japan have dumped the ribbon on the Chinese market and such imports 
have caused substantial damage to the domestic industry.
 
Anti-dumping duty rate for US imports was set at 48.5 percent, and for 
Japanese imports it was set at 25.9 percent, said the ministry.
 
It launched an anti-dumping probe into imported iron based amorphous alloy 
ribbon in November last year.
 
Iron based amorphous alloy ribbon, a solid metallic material, is used in the 
production of transformers and inductors.
 
Source: Shanghai Daily, November 18, 2016
Guide to innovate, reform in northeast
17th November 2016

 CHINA has issued guidelines to speed up innovation and reform in the country’s northeast 

to rejuvenate the rust belt region.
 
The central government decided to accelerate reforms in administration, state-owned enterprises 
and the private economy to give full play to the region’s vitality, according to a statement 
released by the State Council yesterday.
 
The provinces of Liaoning, Jilin and Heilongjiang in the northeast were among the first areas 
in China to be industrialized. However, this once robust industrial base has been faced with 
a more acute slowdown than the rest of the country, trailing behind in GDP growth.
 
The northeast will pilot a negative list program for investment. The region also aims to set up 
at least one private bank before next June to encourage growth of the private economy.
 
The central government urged the three provinces to update their industries and issued a three-year 
action plan. It will offer fiscal support to develop emerging sectors, such as tourism, accordingto the document.
Source: Shanghai Daily, November 17, 2016
PBOC aims to develop digital currency
16th November 2016

 CHINA’S central bank is recruiting blockchain experts to step up efforts 

to develop an official digital currency.
 
The People’s Bank of China’s institute of printing science is offering six 
positions for the design and development of digital currency-related software 
and hardware framework, a recruitment notice said, adding that candidates with 
experience in blockchain and Big Data technologies will be preferred.
 
The candidates must hold master’s or doctoral degree in computer science, 
information security and cryptography, according to the notice.
 
PBOC set up a special team in 2014 to look into digital currencies, 
research the legal, monetary and technological framework, and study 
the impact of digital currency on the economy and financial systems.
 
However, PBOC Governor Zhou Xiaochuan said in a previous interview with 
Caixin magazine that there’s no timetable for the launch of the digital currency.
 
Central banks in UK, Russia, Canada and Australia have also showed interests 
in developing blockchain-based digital currencies.
 
Blockchain technology is not just useful for creating digital currencies or 
developing new financial technologies. They can be used for a wide variety of 
applications, such as tracking ownership or the provenance of documents, digital 
assets, physical assets or voting rights.
Source: Shanghai Daily, November 16, 2016

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