China Watch Blog

China Watch Blog has learnt that US trade officials have named and shamed Chinese search engine Baidu and e-commerce giant Taobao as “notorious markets” for counterfeit and pirated goods.

The decision may add to calls for legislation giving US courts new authority to block foreign websites that sell pirated goods from operating in the US.

The Chinese IT pair is among more than 30 Internet and physical markets around the world listed Monday by the Office of the US Trade Representative (USTR) in an annual review. Ten of the blacklisted markets are from China.

“Piracy and counterfeiting undermine the innovation and creativity that is vital to our global competitiveness,” USTR Ron Kirk said in a press release Monday.

China Watch Blog has learnt that China, the largest creditor of the United States, increased its holdings of US debt to a record $1.175 trillion in October, according to revised data issued by the Treasury.

The Asian nation’s investment totaled $1.16 trillion at year-end, the Treasury Department reported on Monday, raising the figure from the previous $891.6 billion. Japan maintained its place as second-largest lender to the US, with $882 billion of Treasuries at the year-end, compared with $884 billion before the revision.

China’s Treasury holdings underscore the government’s confidence in President Barack Obama’s stewardship of the US economy. Overseas investors own about half of the record $8.96 trillion in US publicly traded debt, and Obama needs them to keep buying as he borrows to sustain the expansion.

“They will keep on buying Treasury bonds,” said Kazuaki Oh’e, a debt salesman in Tokyo at CIBC World Markets Japan Inc, a unit of Canada’s fifth-largest bank. “The euro was in trouble last year. They need to buy dollar assets.”

The United Kingdom’s investment was revised down to $272.1 billion from $541.3 billion. It kept its place as the third-largest lender to the US.

China buys Treasuries with the dollars it takes in by selling yuan to keep its currency from strengthening, and with the funds it earns from exports.

Chinese President Hu Jintao told business executives in Washington in January that closer ties between his country and the US were critical amid a “tortuous” global economic recovery.

The Asian nation’s Treasury holdings climbed amid a bond-market rally. US debt gained from April through September before handing investors a loss in the fourth quarter of last year. The euro tumbled to a four-year low against the dollar in June as governments arranged a bailout fund to rescue the region’s most indebted nations.

Chinese officials had been saying they wanted to seek investments outside the US.

The government should consider investing in energy, resources, high-tech and agriculture, Jesse Wang, the executive vice-president of China Investment Corp, the nation’s $300 billion sovereign wealth fund, said on Jan 15.

China’s yuan rose toward a 17-year high on Tuesday on speculation policymakers will permit gains to curb inflation.

China Watch Blog has learnt that the transaction volume of China’s cross-border trade settled in yuan has increased sharply, as the government approved pilot companies to use the currency in direct overseas investments.

In the first month of this year, Bank of China’s total volume of yuan-denominated cross-border trade settlement reached about 40 billion yuan ($6.09 billion), one-fourth of the 160 billion yuan for the whole of 2010, said Chen Jun, a manager from the international settlement business department of the bank on Tuesday.

Industrial and Commercial Bank of China, the world’s largest lender by market value, transacted about 150 billion yuan in cross-border settlement business since the pilot program started in July 2009, a report of the bank said.

China’s cross-border trade settlement in the currency rose to 510 billion yuan by the end of last year, Chen said adding that the government is looking to reduce dependence on the US dollar and quicken the pace of yuan globalization.

“Growing international trade and investment by Chinese companies abroad increased the need for yuan-denominated settlement business, and it also provided business opportunities for domestic financial institutions,” said Chen.

Investors in the offshore yuan market are likely to hold more working capital in the currency as Chinese financial institutions are working on providing more innovative products and services, Chen added.

The People’s Bank of China in January allowed some domestic pilot companies to directly invest overseas in yuan, in order to expand yuan-settled business.

These pilot companies were from 24 provinces and cities on the mainland, including Liaoning, Zhejiang, Guangdong and Shanghai.

China Watch Blog received this eye-catching headline in the email: Beautiful Women Found in Paradise – the words of a highly imaginative marketer and promoter.

The email then says: Paradise Is Mine, a “Global Real Estate Marketmaker”, announced today that it is reinitiating its international swimsuit model search for campaigns to market its properties in The Bahamas, Dominican Republic and other Caribbean locations.

World's Most Beautiful Women

The company is coordinating with Tony Major Events of Miami and other international promoters, to conduct model searches with the lucky winners to appear in The Company’s international swimsuit calendars and global advertising campaigns and will represent the company and its projects.

Paradise Is Mine is currently accepting open submissions on its website at Promotions@ParadiseIsMine.com . One model will be selected each week for the next eight weeks with a final competition to be held Fourth of July weekend.

The winner shall be selected from a panel of celebrities and industry professionals with the winner to be featured in Paradise Is Mine’s worldwide distribution. Paradise Is Mine will choose a mix of both professional models and amateurs who aspire to be the next new face of the campaign.

Paradise Is Mine is following companies like Sports Illustrated, Victoria’s Secret, Maxim Magazine and the Dallas Cowboys which have successfully built and developed brand recognition through calendars and swimsuit issues.

“We are seeking women with an international flair. We are looking for women who are not only very beautiful but have an inner beauty and wholesomeness to them” states Anthony Liggins, renowned artist and creative director for Paradise Is Mine.

“We are looking for new faces and talent not just the traditional 5’10” supermodel. We want to discover hidden jewels for the faces of our campaigns. Keep in mind, Halle Berry is 5’6” and Shakira is about 5’1”. We are looking for women who possess a wholesome natural beauty with great energy and international flair for our ad campaigns who can be the face of a global brand.” Liggins further states.

The lucky women selected will grace calendars and other promotions throughout the world. The specific venue for the finals will be announced March 21, 2011 to be located in Miami, Florida. The first calendar, featuring The Bahamas, is set for global distribution October 1st.

In some ways this is a true Rocky Balboa story. “PIM has created a way for a couple of unknown ladies to gain international acclaim by providing a way for them to appear with some of the most famous faces in the world”, said Promoter Tony Major.

Paradise Is Mine is also accepting submissions online at www.ParadiseIsMine.com and via Facebook and Linked In. Photos with a brief bio on each candidate can be submitted starting February 28, 2011. The locations of the events and the celebrities involved will be announced through Paradise Is Mine Facebook Group.

“Casting will be complete for this calendar by mid August and if all goes well, this calendar could make some lucky woman an international celebrity”, Liggins added. The company announced that it is also seeking promotional spokeswomen for its ongoing international marketing efforts.

The company is currently marketing property on the Bahamian paradise of Rum Cay which has preliminarily been selected as the location for its inaugural swimsuit issue.

The first model, Alexandra Rodriquez of Miami was pre-selected in a company promotion amongst thousands of potential candidates. PIM has also selected a professional swimsuit model from Colombia whose name has not been made available to the Company.

Paradise Is Mine has partnered with numerous A-List Celebrities who have acquired properties and subsequently provided their participation and endorsements. The company has been featured in 256 international publications and media outlets including Forbes, USA Today, Wall Street Journal, ESPN, Scottrade, Yahoo Finance and The Jay Leno Show. The Company boasts property owners which include 18 “A List” celebrities and professional athletes.

www.facebook.com/paradiseismine