#han zhao

[ihuxiu]

Jack Ma aims to help U.S. companies play a greater role in the Chinese market

Jack Ma Scott Eells / Bloomberg via Getty Images

"We've invested a lot in this space and we're going to invest more," Ma said on Monday evening referring Alibaba's recent launch of a stateside ecommerce site.

"We've invested a lot in this space and we're going to invest more," Ma said on Monday evening referring Alibaba's recent launch of a stateside ecommerce site. "If I come to USA, I want to thank USA. I got my inspirations from Silicon Valley... It's our time to come here and invest in Silicon Valley."

Ma indicated the company will continue to make similar investments stateside. "It's just a start," Ma said of the ecommerce site.

When Ma was asked about if he's interested in acquiring eBay or PayPal, he demurred. He also said he was "very interested" in a partnership between Alipay online payments service and Apple Pay.

[ihuxiu]

Chinese Companies' Foray, So Far No Tangible Progress

Zhang Yimou

Zhang Zhao, CEO of Le Vision Pictures.

Le Vision Pictures currently has five employees working out of its LA offices and will be fully up and running early next year. Le Vision will focus entirely on English-language blockbuster fare inspired by Chinese culture and philosophy.

Le Vision Pictures, ranked third in overall box office in China in 2003, is LeTV's film distribution and production arm. With only five employees in its L.A. office right now, the company will kick off its Hollywood campaign with a $200 million film fund to make blockbusters. Hopefully, not like Expendables 3.

It's the lastest foray into Hollywood by a Chinese company. Two months ago, AMC owner Wanda Group announced that it would spend $1.2 billion to develop its Hollywood presence. The investment group Fosun has partnered with former Warner Bros. chief Jeff Robinov, and Huayi Brothers Media Co. said it was setting up a $130 million subsidiary in the United States.

[ihuxiu]

Who's that buyer just purchased Waldorf Hotel? Oh! Now I see!

Deng Xiaoping in 1992AFP

According to FT, the Chinese financial company that this week bought Manhattan's Waldorf Astoria hotel has one huge thing going for it in its home market. Guess what? It's founder and chairman is the grandson-in-law of Deng Xiaoping.

The Waldorf-Astoria was unofficially known as New York's regal palace shortly after its opening in 1931. Eighty-three years later, the Waldorf-Astoria retain its cachet with the pending sale of the landmark hotel to a Chinese insurance company for $1.95 billion.

The buyer, Anbang Insurance Group, was established by Mr. Wu Xiaohui in 2004 when it was virtually impossible for private business people to get a licence to enter the state-dominated insurance sector.

How did he do that? The answer is apparent. Mr. Wu Xiaohui, who is in his late 40s, is renowned in Beijing for the support he receives from powerful political leaders.

He is married to the granddaughter of the late paramount leader, Mr. Deng Xiaoping.

So this Anbang Insurance Group, how bigger are we talking about here? By the end of 2012, it already boasted assets or rmb 510 billion ($83 billion). It now claims assets of more than rmb 700 billion.