Once upon a time, Nantou was the Ya’men for Xin’an County, and before that for the imperial salt monopoly. It’s currently where Shen Kong integration is being seriously re-worked.
How will you celebrate the 18th Anniversary of the Handover / Return of Hong Kong to Chinese Sovereignty? This July 1, 2015, China will launch the “mutual fund recognition framework” which will allow international assets managers to sell their Hong Kong registered fund products to Mainland investors. How’s that for a celebratory mouthful of globalization?
By Josh Noble in Hong Kong
Financial Times (FT)
Beijing has taken a further step in opening up its financial markets with the launch of a fund recognition scheme giving global asset managers greater access to Chinese investors.
The long-awaited mutual fund recognition framework, announced on Friday evening, will allow international asset managers to sell their Hong Kong-registered fund products directly to Chinese investors for the first time. To be eligible, funds must have a track record of more than one year and assets under management of at least Rmb200m ($32m).
The programme will launch on July 1, according to a joint statement from Hong Kong’s Securities and Futures Commission and the China Securities Regulatory Commission.
Ashley Alder, head of the SFC, said the agreement was a “major breakthrough” in terms of mutual market access between China and Hong Kong.
Fund recognition is the latest step in opening China’s…
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Those of you following the construction of Qianhai, may or may not be aware that it’s cultural geography includes many, many fish (now buried) and Dachan Island, once upon a time home to Dachan Village. Inquiring minds want to know: just where is Dachan Village, today? Continue reading
Three days ago, Premier Li Keqiang announced that 2015 was the year in which the yuan could be freely traded within an experimental area in Shenzhen. This Two Meetings (两会) announcement followed his January trip to Shenzhen, when he stated that the Central Government (中央) required three things from Shenzhen:
1) to continue to cultivate the fields of experimentation (继续种好国家改革开放的试验田);
2) to lay the road of creative development (打造创新发展的道路);
3) to become a model of a city that can accommodate development (成为包容发展的示范城市). Continue reading
Speculation about what the 自贸区 (self governing trade zone) continues to shape all sorts of conversations. On Monday I participated in a public planning forum for the OCT, where comparisons between China Merchants in Shekou and Overseas Chinese Town in its eponymous neighborhood, the OCT illuminated contours of Shenzhen’s history. Four ideas of note popped up.
First, that China Merchants (in Shekou) and OCT (in the OCT) have been the two state owned enterprises most responsible for creating the Shenzhen image. During the post 1992 era, many of the images of reform (in terms of built environment) were of the OCT and its neighborhoods, tourist industry, and theme parks. Continue reading
At first glance, Shenzhen’s 2010-2020 Comprehensive Plan seems a writhing mass of blue snakes and bright hotspots.
However, by simplifying the Comprehensive Plan in terms of the historical relationship between political boundaries and and early infrastructure in Shenzhen development, I came up with the following grid of borders and corridors, which explains the Plan’s horizontal flows, the connections to Hong Kong, and investment initiatives in New District hubs:
Three borders have enabled urbanization in Shenzhen: the border with Hong Kong, the second line, and the city limits, which abut Dongguan in the northwest and Huizhou in the northeast. Two economic corridors have facilitated Shenzhen’s growth: the Guangshen highway corridor and the Kowloon-Canton Railway. The Guangshen highway corridor parallels the area’s riparian trade routes, which were the means of Han expansion from Guangzhou southwardly on the Pearl River and its tributaries. The KCR, of course, was the British attempt to preempt and redirect the PRD’s extensive trade network.
This grid enters everyday conversation through place name protocols. For example, no one today refers to the “second line”, which evokes the yesteryears of early reform. In contrast, ever since the boundaries of the SEZ have been made coterminous with city limits, we now speak of guannei and guanwai, or “inside the gate” and “outside the gate”, respectively. Interestingly, however, I rarely hear people speak of the guanwai area well east of the railroad as “guanwai”, instead, it is more common to refer to that part of Shenzhen as “the east”.
In fact, the SEZ’s historically most important hubs are all located on this grid. Luohu/ Dongmen is the first stop on the Chinese side of the railroad, while Buji was the first stop on the guanwai side of the second line. Likewise, Shekou was the end of the old riparian trade network, activating Delta resources. Bao’an District government is found just over the guanwai side of the Guangshen highway corridor and Shajing Wanfeng Village, once called “the first village in the south” occupies the area just south of Dongguan on the Guangshen Highway corridor. Given the importance of political territorializations and infrastructure to development, it is unsurprising that the poorest areas in Shenzhen are either in (a) the guanwai area between the railroad and highway corridors (Shiyan and Guangming) or (b) the East. With the exception of Guangming, all of Shenzhen’s other three new districts — Pingshan, Longhua, and Dapeng — are located in the east, far from easy access to the railroad, let alone the Pearl River and riparian access to Guangzhou.
In the new Comprehensive Plan the old hubs appear renamed, but their functions unchanged. The Guangshen corridor has been resutured to the Pearl River through the Qianhai Center. The Luohu/ Dongmen railroad corridor has been interestingly diverted into two streams, one that enters guannei at Huanggang/ Lok Ma Chau and leaves guanwai through Guangming and a second that enters guannei at Luohu and then exits guanwai through Longgang. Meanwhile, Hong Kong has been absorbed/ extended into the Shenzhen administrative apparatus at both the Lok Ma Chau Loop and Qianhai Cooperation Zone, begging the question: will the next Comprehensive adjustment will be political integration of the two cities and the re-establishment of a first or second line at Shenzhen city limits? Indeed, the question doesn’t seem too far-fetched when we recall that for 5 months in 1997, the transition government for the Hong Kong Special Administrative Zone met in Shenzhen.
Yesterday, a member of Generation 80 took me to the beaches and mountains of Old Shekou, where he played as a child. He remembers swimming off small docks, crabbing on the dike that used separate the Naihai Hotel from the backwash of Delta waters, and biking safely along narrow, dirt roads. Little remains from his childhood. Even the broadcast tower from Broadcast Mountain has been razed and the remaining structures converted to an upscale Cantonese restaurant. Anyway, the area he used to bike, we cruised in his sports car. Impressions, below: