Monday, December 31, 2007

Learn Chinese - Shanghai launches LNG project with Malaysia

BIZCHINA / Top Biz News

Shanghai launches LNG project with Malaysia

(Xinhua)
Updated: 2007-01-23 13:54

Shanghai on Monday launched a major energy supply project that will
transmit liquefied natural gas (LNG) from Malaysia to the east China
economic hub over 25 years.

Construction started on Monday on the first phase of the Shanghai LNG
project, which would become operational in 2009, Shanghai Mayor Han Zheng
announced on Monday.

Related readings:
Russia factor could make gas price higher
Energy: China builds LNG plants in Iran
CNOOC plans to import 25m tons of LNG by 2010

Shanghai LNG Co. Ltd. reached a deal with a subsidiary of Petronas,
Malaysia's national petroleum corporation, on July 31, under which the
terminal will receive LNG from Malaysia from 2009.

The project was approved by National Development and Reform Commission in
December.

The annual supply will be around 1.1 million tons in the first three
years and rise to 3 million tons from 2012.

The Shanghai terminal will be located in the Yangshan deep-water port, an
international shipping center in Shengsi County in neighboring Zhejiang
Province, at the mouth of the Yangtze River, about 45 km from the Pudong
International Airport.

The first phase involves a total investment of 7 billion yuan (900
million U.S. dollars) and includes three 165,000-ton concrete tanks and a
dock that can anchor ships from 80,000 to 200,000 cubic meters.

Sources with the Shanghai LNG Co. Ltd. said the second phase of the
project was designed to increase import capacity by another 3 million
tons a year, but no detailed timetable was available.

The project, along with China's west-to-east gas pipeline and the East
China Sea gas project, is expected to help meet Shanghai's energy
demands, improve energy efficiency and cut emissions, said a spokesman
with the National Development and Reform Commission.

The deal is the largest trade contract between China and Malaysia.

Petronas company draws its natural gas supplies from the Bintulu region,
one of the world's largest LNG production bases in eastern Malaysia. It
boasts an annual output of 23 million tons and supplies mainly to
countries like Japan and the Republic of Korea.

(For more biz stories, please visit Industry Updates)

Learn Chinese

Chinese language - DaimlerChrysler in deal with China's Foton

BIZCHINA / Overseas Investment

DaimlerChrysler in deal with China's Foton

(AFP)
Updated: 2007-01-17 10:41

A worker polishes the sign at the Chrysler display at the 2004 North
American International Auto Show in Detroit, Michigan. [AFP]

China's Beiqi Foton Motor said it had sealed a 105-million-dollar share
sale to DaimlerChrysler as part of a new alliance with the auto giant.

Shareholders have approved the transaction, to involve selling 297
million shares priced at 2.75 yuan each for a total of worth 817 million
yuan (105 million dollars), Foton said in a statement.

On completion of the transaction, the American-German automaker
DaimlerChrysler is expected to become the second largest shareholder of
Beiqi Foton, with a 24-percent stake.

The private placement agreement was announced in November.

Foton also signed a preliminary arrangement with DaimlerChrysler covering
medium and heavy-duty truck projects.

The cooperation will "sharpen the competitive edge of its current product
line-up... and increase its profitability," Foton said.

The two partners are also considering a distribution role for Beiqi Foton
for Mercedes Benz trucks in China and for Foton to export light-duty
trucks via DaimlerChrysler's overseas sales network, it said.

The deals are still subject to official approval.

(For more biz stories, please visit Industry Updates)

Chinese language

Learn Mandarin online - Lenovo logs into advertising campaign

   Chinadaily Homepage

  | Home | Destination Beijing | Sports | Olympics | Photo | 

  2008Olympics > Olympic Economy

Lenovo logs into advertising campaign

By Liu Baijia
Updated: 2007-01-12 10:14

Lenovo Group the only Chinese firm in the 11-member The Olympic Partner
(TOP) club of the International Olympic Committee will sign a number of
top athletes and formulate a blueprint for its global Olympic advertising
campaign this year.

Li Lan, vice president of global Olympic marketing with China's largest
computer maker, said in an interview that with the Games fewer than 600
days away, 2007 will be a key time for sponsors to flex their muscles.

"In China, we were quite special because Lenovo was the only active TOP
partner to use the rights related to the Turin Winter Games in 2006,"
said Li in an interview at the Lenovo headquarters in the northwestern
suburb of Beijing.

"But for the 2008 Games, there are many sponsors and everyone wants to
stand out, so it is a big challenge for us as the first-time TOP
sponsor," she added.

Lenovo is the only Chinese firm in the 11-member TOP club with rights to
use the Olympic logos and other rights globally, but there are 32 firms
which have different rights related to the 2008 Games, which will open on
August 8, 2008.

After sponsoring an Olympics countdown program on national broadcaster
China Central TV for 162 million yuan ($20.51 million), Lenovo has
kickstarted its Olympic marketing campaigns for this year.

Li said her company is in contact with global advertising agencies and
will decide a media purchase plan centered around its Olympic
sponsorship, but added Lenovo may not necessarily broadcast TV
commercials in foreign markets this year.

"The enthusiasm of people in the host country and other countries is
usually quite different, so we do not have to start Olympic advertising
campaigns this year in markets outside China," said Li, who holds an EMBA
degree from the Kellogg School of Management at Northwestern University
in Evanton, Illinois.

Learn Mandarin online

Chinese language - Shopping through online agents

BIZCHINA / Biz Life

Shopping through online agents

By Cao Li (China Daily)
Updated: 2006-12-26 11:08

SHANGHAI: The Internet has ushered in yet another tool to help people
save time and money, only this time there's an actual person at the other
end of that mouse click.

Enter the age of the online shopping agent.

Their mission is to find bargains for shoppers by tracking down items
overseas or sizeable discounts here at home. The only catch is that the
agents also charge for the service.

Fiona, an experienced 24-year-old online shopper from Shanghai, recently
purchased a pair of boots from the United States, some lip balm from
Japan, a handbag from South Korea and a pair of shoes from a local store
with help from an online shopping agent.

"Many of the products I buy through agents are not available in the local
market," said Fiona. "And because of the taxes and duties, almost all of
the international brands are expensive here in China."

1 2 3 

(For more biz stories, please visit Industry Updates)

Chinese language

Sunday, December 30, 2007

Learn Mandarin online - US report: China not manipulating currency

BIZCHINA / Center

US report: China not manipulating currency

By Qin Jize (China Daily)
Updated: 2006-12-21 09:06

China cannot be tagged as a country that is manipulating its currency to
gain unfair trade advantage, the United States said on Tuesday.

Related readings:
China pledges more yuan flexibility
RMB banking deposits continue to slow down
Wu outlines China's economic goals for US
Appreciation of yuan will not reduce US trade deficit

The Bush administration did say that "more flexibility in China's
exchange rate will help it achieve more balanced growth" and "promote a
number of other outcomes that would be economically beneficial."

But in the report it is required to deliver to Congress every six months,
the administration said that no country met the "technical requirements
for designation" as a currency manipulator.

Such a designation could trigger negotiations that could ultimately lead
to trade sanctions.

The latest report was released four days after a Cabinet delegation led
by Treasury Secretary Henry Paulson concluded high-level talks in Beijing
aimed at resolving the root causes of America's huge and growing trade
deficit with China.

China's trade surplus with the United States grew to US$102.2 billion in
the first nine months this year. But the US Government predicts the
imbalance is on track to surpass last year's record US$202 billion based
on a different set of calculation methods.

The report, which elaborated on Beijing's exchange rate regime reform,
said China "took further steps to reform the currency market and (yuan)
flexibility increased compared to the last six months of 2005."

The yuan has strengthened about 5 per cent since Beijing dropped its peg
to the US dollar in July last year, switching to a mechanism that sets
the exchange rate on a basket of world currencies.

It was trading at 7.8198 to the US currency yesterday.

But the report noted that Chinese currency reforms so far have been
"considerably less than is needed" to rebalance world trade.

The report, which was scheduled to release in November, was put off
because of the US mid-term election and the Sino-US strategic economic
dialogue.

1 2 

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Learn Mandarin online

Chinese language - Siemens to invest additional 10b yuan in China

BIZCHINA / Overseas Investment

Siemens to invest additional 10b yuan in China

(Xinhua)
Updated: 2006-12-13 10:24

Siemens China Co. Ltd. announced yesterday that it plans to invest an
additional 10 billion yuan (1.25 billion U.S. dollars) in China and
double its sales volume by 2010.

"The company has fulfilled its previous 10 billion yuan investment
commitment made in May 2004," said Siemens China President and CEO
Richard Hausmann.

"The plan for an additional mid-term investment of 10 billion yuan shows
Siemens' unswerving commitment to deepening its roots in China," he said.

Sales of Siemens China rose 37 percent year on year to reach 50.4 billion
yuan in the financial year of 2006 that ended on Sept. 30, while new
orders increased by 15 percent to 56 billion yuan.

The growth was mainly fueled by new investments and business expansion,
he said.

Meanwhile, Siemens China saw the number of its research and development
personnel rise by 40 percent compared with 2005.

The company opened a new research facility in Beijing in October. Siemens
China Corporate Technology, with more than 200 researchers, plans to
invest 800 million yuan over the next three to five years to build up its
research and development capabilities.

Siemens China now has 70 operating companies and 60 regional offices
across the country. As investment increases, the number of regional
offices is expected to reach 100 in 2010.

(For more biz stories, please visit Industry Updates)

Chinese language

Chinese language - China uncovers largest money laundering case

BIZCHINA / Top Biz News

China uncovers largest money laundering case

(Xinhua)
Updated: 2006-12-02 10:15

Authorities in China's commercial center Shanghai has uncovered a five
billion yuan (633 million U.S. dollars) money laundering case, the
largest ever in the country's history.

The case was exposed accidentally in a probe into falsification in
business registration jointly launched by the Shanghai office of the
central bank and other government agencies, the Shanghai Securities News
said Friday.

The report gave no details of the case other than that it involves
"underground" banks, or illegal private businesses offering remittance,
foreign exchange and other banking services.

Though a relatively new thing in China, anti-money laundering has been
increasing attention by Chinese authorities.

In 2003 the central bank was given the power to handle anti-money
laundering investigations.

In October this year, the national legislative body adopted the country's
first anti-money laundering law, which expanded the definition of money
laundering to include bribery, and gave the central bank greater power in
investigations.

The new law, which will take effect on January 1, 2007, will pave the way
for China to join the Financial Action Task Force on Anti-Money
Laundering (FATF), an international organization also devoted to cut off
funding to terrorists.

(For more biz stories, please visit Industry Updates)

Chinese language

Chinese Mandarin - Shenbei New Area to spur development

BIZCHINA / Investment Alerts

Shenbei New Area to spur development

By Wu Yong (China Daily)
Updated: 2006-11-24 08:38

SHENYANG: A new area to be built in the northern part of Shenyang is
expected to take a leading role in rehabilitating the once-hardy economy
of the Northeast China.

The State Council approved the development of Shenbei New Area on Tuesday.

Chen Zhenggao, secretary of Shenyang's Party Committee, said the new city
would return the rustbelt area of northeastern China to its former
strength.

"Shenbei New Area is meant to be another engine of growth both for
Shenyang and northeastern China as a whole," said Chen.

Shenbei will join Tianjin's Binhai New Area, Shanghai Pudong New Area and
Zhengzhou Zhengdong New Area in leading government efforts to encourage
development in the country's various regions.

The Northeast was for decades China's industrial heartland, though its
fortunes have waned in the age of liberalization.

The many State-owned enterprises that once dotted the area have fared
poorly in comparison with other booming regions along the country's coast.

Among Shenbei New Area's key tasks will be rebuilding this industrial
base, experimenting with reform and building up a new countryside, said
Li Xiangping, a researcher at the Liaoning Provincial Academy of Social
Sciences.

The former Shenyang Huishan Agricultural Development Zone will serve as
Shenbei New Area's core. It will also cover Xinchengzi Area, Shenyang
Hushitai Development Zone and Daoyi Development Zone.

The area will grow to cover more than 1,000 square kilometres.

"This is a significant step at a time when the central government is
working to rein in the country's development zones. Like Shenzhen, we
shoulder very important responsibilities in guiding reform and opening up
the country," said Wang Shiwei, secretary of Shenbei New Area's Party
Committee.

"Liaoning is at the heart of northeastern China. And Shenyang is the
central part of Liaoning Province. So this step is not just about the
future of Shenbei, but about the whole region."

Liaoning Province is responsible for half of northeastern China's gross
domestic product and leads the region in exports.

"We have already had a good start and are very confident about the area's
future," said Jian Biao, chief of Shenbei New Area.

Among the industrial sectors planned for the area are bio-pharmaceuticals
and logistics.

1 2 

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Chinese Mandarin

Saturday, December 29, 2007

Chinesepod - Cross-continent journey demonstrates grit of luxury cars

BIZCHINA / Auto Industry in China

Cross-continent journey demonstrates grit of luxury cars

By Te Kan (China Daily)
Updated: 2006-11-18 05:49

The Mercedes-Benz fleet arrived in Beijing yesterday, the destination of
its cross-continent journey, marking the end of the Long Distance Drive
Paris-Beijing 2006.

Starting from Paris on October 21, the fleet, consisting of almost 400
participants from 35 nations, passed nine countries and covered around
13,600 kilometres in a 25-day transcontinental haul.

Approximately 360 drivers took to the wheel before the diesel marathon
reached its final destination.

It was "the longest and most intensive road show ever staged by
Mercedes," according to Dieter Zetsche, chairman of DaimlerChrysler AG
and CEO of the Mercedes Car Group.

Since the birth of the automobile, this is the first time luxury cars
have driven such a long-distance tour, marking a milestone in auto
history.

The event shows Mercedes-Benz's leading-edge technology and reflects the
automaker's unique role in the car industry during its more than 100-year
history.

"The long-distance tour highlighted the car's excellence and showed that
Mercedes-Benz ranks among the best in the premium segment in comfort,
safety and reliability," Zetsche said.

The endurance drive "did much more than demonstrate technical ability,"
he added. "It also contributed to better understanding among people."

Hundreds of participants from various countries took the journey
together, made friends, learned about different cultures, and had some
unforgettable personal experiences, he said.

"It is always a joy to rediscover what can be achieved by working
together toward a common goal," Zetsche said.

Inspiring journey

Divided into five phases, the long-distance journey from Europe to Asia
passed across six time zones and through France, Germany, Poland,
Lithuania, Latvia, Estonia, Russia and Kazakhstan before ending in China.

The first leg, stretching over approximately 3,400 kilometres, provided a
good view of a great variety of landscapes - ranging from the
metropolitan regions of Paris, Berlin, and Warsaw, to the untouched
countryside of the Masurian and Baltic regions.

The second leg of the long-distance haul began from the east of Moscow,
where participants drove through Chuvashia, Tatarstan and Udmurtia for
another stretch of around 2,700 kilometres and passed a number of swamps
and forests.

The third stage was a 2,500 kilometres run across the Kazakhian steppe,
where drivers faced the challenge of breathtaking glaciers. This was the
highest part of the journey, reaching up to 5,000 metres above sea level.

From the fourth stage, which was approximately 3,100 kilometres, the
route took the drivers into China's Wild West. Twenty-two days after its
start in Paris, the Mercedes-Benz team hit another legendary route: the
Silk Road.

On this historical trade route, the fleet reached the western offshoots
of the Great Wall, and finally, at the terminus of their fourth stage in
Lanzhou, met the Yellow River.

The motorcade drove about 1,900 kilometres in the last four days before
it arrived at the destination: Yongding Gate in Beijing.

Along the way, the fleet experienced the rich and diversified history and
culture of various countries. For instance, there were eight UNESCO World
Heritage sites in the first leg alone.

Sei Murakami, a participant from Japan, said with excitement: "I am so
lucky to have seen so many historical places along the way."

The journey provided drivers an opportunity to see famous sights as well
as promote understanding between people from different countries.

For many participants, the relaxed atmosphere in Eastern Europe was a
surprise.

"In my head I still had magazine photos of grey buildings and sad-looking
people. And instead I saw happy faces all around me," said Javier
Reynagas, a 40-year-old reporter from a Mexican daily newspaper.

Technological strength

During the long-distance haul, both drivers and auto engineers met
challenges such as severe weather, rough road conditions and continuous
driving.

The outstanding performance of the Mercedes-Benz vehicles provided
assurance to the brave drivers.

"This sense of security is an important part of what we seek to offer our
Mercedes customers," Dr. Zetsche said.

The chairman's confidence in his vehicles lies in his research team's
strong capacity and continuing efforts in technology innovation.
"Progressive technology is essential if we are to sustain our mobility,"
he said.

In the newly released Mercedes-Benz line-up, fuel economy, environmental
considerations, engine performance and driving pleasure are perfectly
combined each other, a fact proven by the cross-continent drive.

In the 36-vehicle motorcade, three mass-produced BLUETEC vehicles
showcased Mercedes Benz's major breakthroughs in the field of
environmental protection.

With the latest diesel technologies, BLUETEC performed strongly in
reducing emissions, and was ranked among the cleanest diesels in the
world.

Dr Zetsche said, "We wanted to demonstrate - in a very persuasive way -
the economy of modern clean diesel engines. After all, the responsible
use of natural resources and respect for the environment are a worldwide
concern, now more than ever before."

Even against a background of growing calls for energy saving and
environmental protection, a powerful luxury car with economical fuel
consumption is still competitive in auto market, insiders said.

During the driving event, the best teams posted fuel economy of about 36
miles per gallon under challenging conditions, in some cases with a crew
of up to three and heavy baggage on board, according to Zetsche.

The vehicles used in the marathon drive were all equipped with
state-of-the-art diesel engines, which can reduce fuel consumption by 20
to 40 per cent, Zetsche said, adding that the more frugal the consumption
was, the lower the carbon dioxide emissions were. "Our diesels are
setting new environmental standards," he said.

Consumers in Western Europe markets have long enjoyed the advantages of
modern diesel engines. Diesel market share has reached 50 per cent on
average and exceeds more than 80 per cent in some countries.

Zetsche said DaimlerChrysler is working very hard to carry their success
into other parts of the world.

However, modern diesels require clean and low-sulphur fuel. Zetsche said:
"Wherever clean diesel fuel meets the requirements of modern diesel
engines, we can bring our cutting-edge technology to the market on short
notice." At present, a new generation E-Class, known as "a heart of the
Mercedes-Benz brand," is being made locally in Beijing
Benz-DaimlerChrysler Co Ltd, a new plant jointly invested by Beijing
Automotive Industry Holding Co Ltd and DaimlerChrysler AG.

(For more biz stories, please visit Industry Updates)

Chinesepod

Chinese language - China BlueChemical Ltd

BIZCHINA / Chemical

China BlueChemical Ltd

(chinabluechem.com.cn)
Updated: 2006-11-15 16:55

China BlueChemical Ltd is a large-scale modern enterprise engaging in
advanced processing of natural gas including developing, manufacturing
and selling of chemical fertilizers and chemical products. China BlueChem
was established on 25 April 2006 as a core subsidiary of China��s third
largest petroleum company, China National Offshore Oil Corp (CNOOC). The
company��s headquarters is located in Dongfang City, Hainan Province. On
29 September 2006, the Company was listed on the Hong Kong Stock Exchange
with stock code 3983.

China BlueChem is among the largest in production volume and most energy
efficient nitrogenous fertilizer producers in China which principal
businesses are manufacturing, developing and selling urea and high
value-added synthetic chemical products with natural gas as the raw
material. China BlueChem possesses enormous production capacity, advanced
manufacturing technology, and an extensive sales network that covers 20
provinces in China.

(For more biz stories, please visit Industry Updates)

Chinese language

Chinese School - Catering:McDonald's to drive China sales

BIZCHINA / Biz Media Digest

Catering:McDonald's to drive China sales

(SD-Agencies)
Updated: 2006-11-10 15:04

McDonald's Corp said it is stepping up efforts to attract mothers with
young children to its 770 restaurants in China as it works to increase
sales in the China market and set itself apart from bigger rival KFC.

McDonald's, the world��s largest restaurant company but the
second-biggest fast-food chain in China, said it is focusing on mothers
partly because they are a group that has been ignored by marketers in
China.

Gary Rosen, chief marketing officer for McDonald's China, said at a media
event in Shanghai on Wednesday that there "is a huge opportunity here
with women, with mothers, to start talking to mothers here on their
level.... That's not something that's been done historically."

To reel in more female customers, McDonald's is taking a page from its
recent US turnaround by addressing moms' concerns about the food they
serve their children.

In the United States, sales at McDonald's restaurants have been
revitalized in the last three years in part because the chain has added
lower-calorie menu items like entree-sized salads and apple slices to its
menu that have appealed to women with children.

The company has also worked to deflect critics who say its burgers and
French fries are contributing to increased levels of childhood obesity in
the United States by promoting physical activity to its customers and
putting nutritional information on its packaging.

McDonald's is now taking a similar route in China, where childhood
obesity is also on the rise, adding a steamed corn cup and grilled
chicken sandwich to its traditional menu of burgers, fried chicken
sandwiches and fries.

The company also plans to test new playgrounds called "Ronald Gyms," so
that its young customers can be more physically active at its restaurants.

Rosen said, however, that Chinese consumers are less concerned about
calories and fat than their American counterparts. The major concern in
China, he said, is the threat of food-borne illnesses.

"In China it's not necessarily about calories," Rosen said. "In China,
what moms especially are concerned about is safety."

Unsafe food is a common problem in China. Last year, sales at KFC
suffered after some of its products were found to contain a dye banned
from use in food, and this year hundreds children have fallen ill due to
several mass food poisoning cases in schools across the country.

The company is addressing food safety concerns with a series of
television commercials that emphasize the quality of the beef, potatoes
and other ingredients in its products.

Nevertheless, Rosen said McDonald's wants to be ahead of the game on
things like nutrition labeling, for which there are no laws in China.
McDonald's will begin printing the nutritional content of its foods on
wrappers and other packaging this month.

(For more biz stories, please visit Industry Updates)

Chinese School

Chinese language - Millionaires strive to buy yachts

BIZCHINA / Biz Life

Millionaires strive to buy yachts

(chinanews.cn)
Updated: 2006-11-01 15:33

According to Shanghai Morning Post, millionaires from prosperous
southeastern China are striving to buy private yachts. Local governments
also provide opportunities for them to show off their fortunes.

A extravagant yacht is displayed at China International Boat Show 2005 in
Shanghai on April 11. [newsphoto]

Chen Xinhua, CPC Secretary of Chun'an County, Zhejiang Province, boasted
that the country authorities would build two extravagant yacht clubs in
Qiandao Lake (Lake of Thousand Islands) before 2010, which could own at
least 80 extravagant yachts.

He said this during the "2006 Qiandao Lake Yacht Fair" concluded on Oct.
29. Around 45 exhibitors from 9 countries participated in this fair. Chen
revealed that it was one of the largest international yacht fairs held in
China. He believed such activity could further boost local tourism
industry.

There is no reason why Chen is unconfident. Three luxury yachts priced at
20 million yuan (US$2.5 million) altogether, were sold during the fair.
An Italian-made yacht named "Ferrari" is probably the most extravagant
one in China, which was sold at 17 million yuan ($2.1 million). Buyers of
the yachts were rich merchants from Jiangsu and Zhejiang provinces.

Currently Qiandao Lake management owns 25 extravagant yachts and 144
motorboats. The local government believes only 700-800 yachts can have
access to the lake lest environmental disasters will be incurred. Ling
Zhifeng, one organizer of the yacht fair, promised that all the yachts
they sold have reached related environmental standards.

(For more biz stories, please visit Industry Updates)

Chinese language

Friday, December 28, 2007

Learn mandarin - Light Industry: Haier affiliate does not plan HK listing

BIZCHINA / Biz Media Digest

Light Industry: Haier affiliate does not plan HK listing

(Shenzhen Daily)
Updated: 2006-10-25 14:42

Haier Electronics Group Co. Ltd., the Hong Kong-listed arm of China��s
largest appliance maker, on Monday played down media speculation that its
long-planned acquisition of a stake in a Shanghai-listed sister firm was
in doubt.

Haier Electronics, which makes top-loading washing machines, also said
that its target, Qingdao Haier Co. Ltd., had no plans to list in Hong
Kong �� a move that could split investor attention for one of China��s
best-known consumer brands globally, but which still lacks a listed
flagship.

(For more biz stories, please visit Industry Updates)

Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.

Learn mandarin

Learn Chinese - Mergers and Acquisitions - M&A

BIZCHINA / Finance/Investment

Mergers and Acquisitions - M&A

(chinadaily.com.cn)
Updated: 2006-10-19 11:22

A general term used to refer to the consolidation of companies. A merger
is a combination of two companies to form a new company while an
acquisition is the purchasing of one company by another with no new
company being formed.

Merger

When one company purchases another company of an approximately similar
size, the two companies come together to become one.

Two companies usually agree to merge when they feel that they can do
something together that they can't do on their own.

For example, AOL and Time Warner merged a few years back in hopes that
they could both gain something. AOL wanted access to Time Warner's cable
network. Time Warner wanted access to AOL's users (to promote movies and
other Time Warner products) as well as AOL's extensive internet content.

Acquisition

An acquisition is when one larger company purchases a smaller company.
Usually, the company that is being acquired typically sees its stock
price appreciate right after the news is announced. The company doing the
buying usually sees its stock price fall.

Sometimes mergers and acquisitions can turn ugly. Watch out for your
companies if this happens, because sometimes the stock prices can drop
significantly on the news.

(For more biz stories, please visit Industry Updates)

Learn Chinese

Chinese Mandarin - China's economic growth important to world: Paulson

BIZCHINA / Voice

China's economic growth important to world: Paulson

(Xinhua)
Updated: 2006-10-13 14:10

U.S. Treasury Secretary Henry Paulson said Thursday that China's economic
development is "very, very important" to China and the rest of the world.

U.S. Treasury Secretary Henry Paulson, seen in September 2006, said that
China is unlikely to overtake the United States as the world's largest
economy, and in fact faces important "downside" risks. [AFP]

"I really believe that a China that is a growing part of the global
economy is going to benefit the U.S. and benefit the rest of the world,"
Paulson said in an interview with Fox News.

Paulson said that China's economic relationship is very important with
the United States and with the rest of the world.

"And the more constructive engagement we all have together, the higher
the cost of any kind of conflict or anything that would undermine the
global economic stability," he added.

Paulson noted that the United States has some very important economic
relationships, "but I really believe the most important long-term
economic relationship we're going to have is going to be our relationship
with China and vice versa."

Mentioning that some people are concerned that China is somehow or other
going to outcompete the United States and overtake the U.S. economy,
Paulson said that "the thing I am most concerned about is that China
won't move ahead quickly enough with their reforms and that if they don't
move ahead quickly enough with their reforms, then they may have their
own economic issues."

China has got some formidable economic challenges, he said, "I would like
to believe they're going to continue with their reform program and that
they're going to accelerate the pace of those reforms."

"China needs to keep growing its economy, needs to keep reforming its
economy, needs stable economic relations around the world, and I think
that's very important of China," Paulson said.

(For more biz stories, please visit Industry Updates)

Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.

Chinese Mandarin

Learn Chinese online - 'Golden Week' losing shine

BIZCHINA / Weekly Roundup

'Golden Week' losing shine

(Xinhua)
Updated: 2006-10-08 10:31

The week-long National Day holiday of Chinese Mainland is used to be a
shining week in Hong Kong as thousands of mainland tourists will bring in
flourishing wealth.

However, the "Golden Week" this year is not as golden as it used to be
since many people from the mainland, especially tourists from nearby
Guangdong Province prefer not to visit Hong Kong during the holiday.

A tour guide from a Guangdong tourism agency said: "They don't want to
come during holiday time fearing the higher hotel and ticket prices,
especially the crowds of people."

According to statistics from Hong Kong Immigration Department, the number
of visitors on the first day of the golden week stood at 280,000, a
record low since the start of the "Individual Visiting System" in 2003.

Selina Chow Liang Shuk-yee, chairman of Hong Kong Tourism Board, admitted
that the "Golden Week" influence to the local market is diminishing
because more and more people from the mainland choose ordinary time to
visit Hong Kong rather than holiday.

However, she said this does not necessarily mean the positive effect of
"Individual Visiting System" on local tourism is reducing, instead it is
more balanced throughout the year.

But the market is more or less disappointing since most stores expected a
higher revenue during the holiday week.

Causeway Bay, one of the most crowded shopping hubs in Hong Kong, looked
even more quiet than common weekends. Some electronic stores said
business is slower than the same holiday time last year.

Hong Kong Disneyland may also feel upset since the long-hoping- for
crowds of guests did not appear as expected. However, this is good news
for guests who choose to visit the park during the holiday because they
can enjoy themselves without worrying about the long waiting line.

Some critics said the declining number of tourists reflects problems in
Hong Kong tourism industry, such as the lack of attraction of resorts,
lack of transparency of prices and poor handling of tourists complaints.

Stephen Ip, secretary for Economic Development and Labor, also admitted
the diminishing effect of "Golden Week" when he visited Hong Kong
Disneyland during the holiday. But he said the market for individual
visit is not saturated and he believed the market can be further enlarged
if measures are taken to improve the service of local tourism.

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Thursday, December 27, 2007

Chinese Online Class - Painting a rosy picture of future for cartoon sector

BIZCHINA / Investment Alerts

Painting a rosy picture of future for cartoon sector

By Song Wenwei (China Daily)
Updated: 2006-09-28 08:56

CHANGZHOU, Jiangsu Province: China's cartoon industry is expected to see
fast growth in the next few years with more policy support, investment
and co-operation with other countries.

That was the message at the 2006 China Changzhou International Animation
and Cartoon Art Forum held here yesterday.

Taking part were government officials, experts and investors from China,
the Republic of Korea, the United States, Italy, France, Canada and Japan.

China's animation and cartoon sector experienced a golden age in the late
1950s and early 1960s.

However, for various reasons such as a lack of funds and professionals,
the industry has lagged behind those in other countries. Its workers are
now in a  subcontractor situation for countries like the United States
and Japan, world leaders in the industry. The two produce high-quality
work and yield a total annual revenue of US$75 billion.

"One of the major reasons for the present situation in China is the lack
of funds," said Wang Hong, president of the Hunan Great Dreams Cartoon
Media Co Ltd (HGDCM),  the largest animation and cartoon production firm
in China.

It has been reported that the financial input into animation in China is
just one hundredth of that in the US. Though government funds are
currently the main source of cash, private firms are being encouraged to
invest in the sector. Three local companies have invested 10 million yuan
(US$1.25 million) respectively in the creation and production of cartoons.

1 2 

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Learn Chinese online - Shell buys lubricants firm Tongyi

BIZCHINA / Overseas Investment

Shell buys lubricants firm Tongyi

(China Daily)
Updated: 2006-09-25 16:43

Oil giant Royal Dutch Shell has bought a 75-per-cent stake in China's
largest privately owned lubricant oil company Tongyi, making it the
third-largest in China's lubricants market, the firm said on Friday.

"The transaction will increase Shell's global finished lubricants volume
by 8 per cent, giving it approximately 16 per cent of the global branded
finished lubricants market," the company said in a statement, without
giving the financial details of the deal.

"China is the fastest-growing consumer lubricants market in the world,
which is to grow annually by 10 per cent at least until 2010," said David
Pirret, executive vice-president of lubricants at Shell. "Growing our
business in such an important market is critical to extending our
leadership in the world market."

"It is also in line with Shell's strategy of profitable downstream
through leveraging our portfolio in high-growth markets."

Shell said its lubricants business in China has experienced strong growth
over the past few years. It has three lube oil blending plants in China
with a total capacity of about 200,000 tons per year.

Tongyi has grown rapidly in 13 years to become China's third-largest
lubricants company. It has a network of 2,000 distributors and 90,000
retailers across China and has three lube oil blending plants with a
total annual capacity of 600,000 tons.

Commenting on the deal, Lim Haw-Kuang, executive chairman of Shell China,
said: "Taking a major stake in a successful Chinese company is a clear
demonstration of Shell's ability to deliver on its strategic growth
aspirations in the east and positions us as one of the leading
international energy companies operating in China today."

This year the Dutch company plans to invest US$500 million in both the
upstream and downstream sectors of oil production to increase its
presence in the competitive Chinese energy market.

Lim said Shell would spend the money on everything from oil and gas
exploitation to downstream refining and oil retailing.

The company plans to add more than 200 retail sites in East China's
Jiangsu Province through its joint venture with Sinopec over the next six
months. Shell has an agreement with Sinopec to build 500 sites in
Jiangsu. Of those, 200 have been established.

In its upstream business, Shell is working with PetroChina to develop the
Changbei gas field in Northwest China's Shaanxi Province. The project is
expected to supply gas to Beijing and Tianjin municipalities, and Hebei
and Shandong provinces before 2008.

Biz Shop 

Ripe time for Shanghai Port

The container throughput of the Shanghai Port reached 13.9574 million
TEUs in the first eight months of this year.

� New berth opens at Yantian Int'l Container Terminals

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Chinese language - Changxing to host trade, investment expo

BIZCHINA / Top Biz News

Changxing to host trade, investment expo
By Ji Zhe (China Daily)
Updated: 2006-09-20 10:16

The China Changxing International Trade and Investment Exposition will
take place from October 8 to 11 in Changxing County in East China's
Zhejiang Province.

The trade and investment promotional event is jointly sponsored by
People's Daily and Nihon Keizai Shimbun Inc (Nikkei), a leading business
news company in Japan, and organized by the county government.

The 11th Sino-Japanese Economic Forum, as part of the expo, will be held
in Changxing on October 9, in an effort to promote trade and economic
ties between the neighbouring countries. The forum will discuss
Sino-Japanese economic co-operation during China's 11th Five-Year Plan
(2006-10) period.

Discussion topics will include the emerging business opportunities in the
financial services sector, the possibility of improving co-operation in
environmental protection and agricultural industrialization.

The biennial event has been held 10 sessions since 1984. This will be the
first time Changxing County will host it.

Changxing was picked because of its economic strength and booming foreign
investment. It ranked among top 100 counties in Chinese mainland.

In 2005, the county's production value increased by 15 per cent, its
finance revenue grew by 20.49 per cent and per capita income grew by 13.5
per cent, compared with figures from 2004.

The county's economic development zone has tried to fully mobilize every
possible positive factor to attract projects and solve development
problems, an effort which has paid off.

From January to April this year, six projects were agreed bringing
foreign capital of US$10.1 million, of which US$5.75million was actually
finalized.

1 2 3 

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Learn mandarin - Culture: Bookstores for farmers

BIZCHINA / Biz Media Digest

Culture: Bookstores for farmers
(Xinhua)
Updated: 2006-09-14 14:40

China on Thursday announced an ambitious plan to establish 200,000
bookstores in its vast rural areas in five years.

"Each rural bookstore project will at least have 1,000 books, 30
magazines and periodicals and some audio visual products," Liu Binjie,
vice director of the State Press and Publication Administration told a
news briefing.

Liu said the project, with a total investment of four billion yuan (about
506 million US dollars), is aimed to promote education and popularize
science and technology in rural areas.

He said the bookstores, with each to be built at an estimated 20,000
yuan, will be sponsored by the government and also open to public
donation. "Within 10 years, we hope each village will have its own
bookstore," he said. China's rural population is about 900 million.

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Chinese Mandarin - SKF aims to expand after acquisitions

BIZCHINA / Overseas Investment

SKF aims to expand after acquisitions
By Li Jian (China Daily)
Updated: 2006-09-13 08:47

SHANGHAI: SKF Group, the world's biggest bearing and seal maker, is
aiming to expand in China after completing a series of international
acquisitions over the past six months.

The Swedish company yesterday announced it would add three manufacturing
plants in China by the end of the year and will enter the truck market by
the end of 2007.

SKF is planning to localize all of its manufacturing products delivered
to the Chinese market by the end of 2008, said the company. So far,
around half of the SKF bearing and seal products sold in China are
imports.

The announcement came as foreign investors line up to crack China's
bearing manufacturing industry through acquisitions or expansion.

As part of the strategy, SKF's new plant manufacturing large-size
bearings in Dalian, Northeast China's Liaoning Province, and another
plant specializing in electromechanical actuators and actuation systems
in Pindu, East China's Zhejiang Province, have already gone into
operation, said the company yesterday.

SKF also plans a new factory in Shanghai manufacturing automotive bearing
products with 12 production channels by the end of the year.

"SKF will continue its strong investment to increase our manufacturing
capacity for products used in the automotive, medical, food and wind
energy industries in the coming few years," Tom Johnstone, president and
CEO of SKF Group, told China Daily yesterday.

SKF's China sales reached 2.8 billion yuan last year, up by 28 per cent
from 2004, making China the fourth-largest market for SKF.

SKF Group, a major bearing supplier to the Chinese railway market,
recently signed an agreement worth up to SEK1 billion (US$136 million)
with China's Ministry of Railways, according to sources close to the
company.

"SKF plans to enter the Chinese truck trailer market by the end of the
year 2007," said Johnstone. "And the wind energy industry is also a
future focus in China."

He said further plans include expanding the SKF dealer and distributor
network and transferring more new technology and solutions to China.

Besides SKF, other world leading bearing makers including the
Germany-based Schaeffler Group and US-based Timken are also increasing
their manufacturing capability in China.

Timken Company, the world's third-largest bearing manufacturer, said last
week it would build its fifith factory in China in Wuxi, Jiangsu
Province, while Shaeffler is working aggressively to acquire domestic
bearing makers.

(China Daily 09/13/2006 page10)

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Chinese Mandarin

Wednesday, December 26, 2007

Chinesepod - About Sohu

BIZCHINA / Zhang Chaoyang

About Sohu
(sohu.com)
Updated: 2006-09-06 15:50

Sohu.com Inc. (NASDAQ: SOHU) is China's premier online brand and
indispensable to the daily life of millions of Chinese, providing a
network of web properties and community based/web 2.0 products which
offer the vast Sohu user community a broad array of choices regarding
information, entertainment and communication.

Sohu has built one of the most comprehensive matrices of Chinese language
web properties and proprietary search engines, consisting of:
? www.sohu.com, the mass portal and leading online media destination;
? www.sogou.com, an interactive search engine with over 2.5 billion
retrieved Chinese web pages;
? www.chinaren.com, the #1 online alumni club;
? www.focus.cn, a top real estate and home furnishing website;
? www.17173.com, the #1 games information portal;
? www.goodfeel.com.cn, a wireless value-added services provider; and
? www.go2map.com, a leading online mapping service provider.

Sohu corporate services consist of brand advertising on its matrix of
websites as well as paid listing and bid listing on its in-house
developed search directory and engines. Sohu also offers three types of
consumer services. Sohu offers wireless value-added services such as
news, information, music, ringtone and picture content sent over mobile
phones. The company also operates two massively multi-player online
role-playing games as well as a casual game platform, and manages an
e-commerce platform.

SOHU.COM, established by Dr. Charles Zhang, one of China's Internet
pioneers, is in its tenth year of operation.

The Internet in China has developed into mainstream online medium in the
past years, particularly for the urban youth who are spending more time
online at the expense of watching television or reading traditional print
media, making it the most effective marketing vehicle for companies to
target this highly attractive segment in the Chinese market. Sohu's
massive user base and strong brand presence in China make Sohu.com a
household name throughout the country and the platform of choice for
corporate clients to promote their business.

Through continuous product development and exclusive content partnerships
SOHU works relentlessly to further strengthen and differentiate the
portal as premier destination for Internet users in China and advertisers
who aim to reach the most attractive consumer market segments in China,
that of the young, affluent urban population. We invest back in brand and
product through exclusive online content agreements with

-FIFA World Cup 2006 (online video clips and official songs)
-NBA
-Asian Cup
-China Open
-Formula One
-AC Milan
-Miss World 2004

Sohu (which means "Search Fox" in Chinese) has pioneered online search in
China. It started as the country's first online search company in 1997
and has continuously developed its in-house search technology. With a
search database of just over one billion indexed web pages and 500,000
manually selected, categorized websites, we believe SOHU has the world's
largest online search database in the Chinese language. We have begun to
monetize our search through sponsored search listings, and we expect the
market for sponsored search to have a long-term growth potential. We
expect the monetization to become even more meaningful with the
development of e-commerce, which is still at a very early stage in China.

Through its pioneering roll-out of wireless services since 2000, SOHU
contributes to making the Internet ubiquitously available, whether in the
office, at home or on the road. Via SOHU wireless messaging services
subscribers can receive the latest news, access their email account, stay
in touch with friends and fellow alumni, get dates, play games or sign up
for a host of other information, entertainment and communication
applications that have made the mobile phone an essential tool in young
people's daily lifestyle. SOHU offers mobile services on SMS (short
messaging services), MMS (multi-media messaging services), WAP (Wireless
Application Protocol), IVR (Interactive Voice Response), RBT (Ring Back
Tones) and K-Java based platforms.

Online games business currently accounts for a small portion of
Sohu.com's total revenue pie. The company will continue to operate this
business as to maintain a smooth user experience as well as to be
prepared for future market potentials.

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Chinesepod

Learn Mandarin online - Greece willing to share Olympics hosting experience with Beijing, PM

   Chinadaily Homepage

  | Home | Destination Beijing | Sports | Olympics | Photo | 

  2008Olympics > News

Greece willing to share Olympics hosting experience with Beijing, PM

(Xinhua)
Updated: 2006-08-30 19:00

BEIJING, January 19 -- Greece is willing to share its experience in
hosting the Olympic Games with Beijing, said visiting Greek Prime
Minister Costas Karamanlis Thursday.

Karamanlis made the remarks in a meeting with Liu Qi, secretary of the
Beijing Municipal Committee of the Communist Party of China (CPC).

Liu, also president of the Beijing Organizing Committee for the 2008
Olympics, briefed Karamanlis on Beijing's preparation work for the
Olympic Games. He said the city wants to make sure the Beijing Olympics
are both advanced and typically Chinese. At present, all the preparation
work is under way, he added.

He said all the sports stadiums would meet the requirements of holding
test competitions by the end of 2007.

Beijing launched its Olympic slogan "One World, One Dream" and mascots
named the Friendlies last year, which fully demonstrated the Chinese
people's love for the Olympics and their desire to be good host.

Karamanlis expressed appreciation of Beijing's fast development and its
preparation work for the 2008 Olympics. He said Greece is willing to
share experience with Beijing and enhance cooperation with China in the
fields of economy, trade and culture.

The Greek prime minister arrived here Thursday morning for a four-day
official visit to China at the invitation of Chinese Premier Wen Jiabao.

Learn Mandarin online

Chinese Mandarin - China, Venezuela ink agreements to boost bilateral ties

BIZCHINA / America

China, Venezuela ink agreements to boost bilateral ties
(Xinhua)
Updated: 2006-08-25 09:37

China and Venezuela on August 24 inked eight agreements on wide-ranging
topics, a sign of stronger ties between the two countries.

Among the eight agreements, two are related to future expansion of
bilateral energy cooperation.

In the two agreements, the China National Petroleum Corp. (CNPC) and the
PDVSA, the state-owned Venezuelan energy company, agreed to establish
joint venture and launch joint development on the Venezuelan oil fields,
according to the information from the Chinese Foreign Ministry.

The agreements, which ranged from trade and energy to infrastructure
construction and tourism, were signed after Chinese President Hu Jintao
held talks with visiting Venezuelan President Hugo Rafael Chavez Frias.

"I'm very satisfied with the cooperation with China in the oil and oil
chemistry fields", Chavez told the reporters after the signing ceremony,
vowing to increase the oil exports to China to 50,000 barrels per day in
the very near future.

During his talks with Hu, Chavez said that the Venezuelan side will make
concerted efforts with the Chinese side to implement the proposal and
strengthen cooperation in bilateral and multi-lateral areas so as to push
forward the continuous development of bilateral strategic partnership.

The Venezuela side hopes to further bilateral cooperation in such fields
as energy, railway construction, telecommunications, agriculture,
tourism, culture and education, and build the bilateral high-level mixed
commission into an important platform for enhancing bilateral
cooperation, Chavez noted.

As this year marks the fifth anniversary of the establishment of
Sino-Venezuelan strategic partnership, Hu also offered a four-point
proposal.

1 2 

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Chinese Mandarin

Chinese School - China to invest US$41.3b in sewage treatment facilities

BIZCHINA / Investment Alerts

China to invest US$41.3b in sewage treatment facilities
(Xinhua)
Updated: 2006-08-22 13:58

China plans to invest more than 330 billion yuan (41.3 billion U.S.
dollars) to build sewage treatment facilities in urban areas from 2006 to
2010, a Ministry of Construction senior official said Tuesday.

"Work on urban waste water treatment facilities and pipelines will be
speeded up," said Vice Minister of Construction Qiu Baoxing.

By the end of 2007, the country will complete the renovation of the water
pipe networks that have been operating for more than 50 years or those
that are damaged, he said.

Not less than 95 percent of urban homes will be provided with clean water
by the year 2010, up from 91.1 percent at the end of 2005.

Qiu said China had increased efforts to improve urban water safety, but
is still facing "prominent" problems such as water shortages, worsening
pollution and degradation of its rivers.

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Chinese School

Tuesday, December 25, 2007

Learn mandarin - Healthcare: Beijingers live to 80

BIZCHINA / Biz Media Digest

Healthcare: Beijingers live to 80
(Xinhua)
Updated: 2006-08-17 10:37

Beijingers' average lifespan has reached 80.09 years old, four years
longer than when last surveyed in 2001, according to a joint report from
the National Bureau of Statistics and the Beijing Bureau of Statistics on
Tuesday.

The figures suggest that Beijingers' lifespan has stretched by a year
each year since 2000, 10 times quicker than the national average.

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Learn mandarin

Chinese School - HSBC to expand business in Chinese mainland

BIZCHINA / Overseas Investment

HSBC to expand business in Chinese mainland
(Xinhua)
Updated: 2006-08-02 14:40

Stephen Green, chairman of the global banking giant HSBC Holdings PLC
said in Hong Kong on Tuesday that the group is to put more investment on
business expansion in the Chinese mainland.

Chairman of HSBC Asia Pacific Vincent Cheng (From L to R) , Group
Chairman of HSBC Holding Plc Stephen Green and CEO of HSBC Asia Pacific
Michael Smith attend a news conference in Hong Kong July 31, 2006.
[Reuters]

He said at a press conference that the group expected to expand
commercial and personal banking services in the Chinese mainland.

Green said the group also expected to promote the retail banking business
through cooperating with the Bank of Communications.

The group announced on Monday that it obtained 280 million U.S. dollars
of profit before tax in the Chinese mainland in 2005, up 74 percent over
the previous year.

Michael Smith, chief executive of Hong Kong and Shanghai Banking
Corporation Limited, said at the press conference that the group is to
promote its Chinese mainland business by depending on the existing 33
branches in the Chinese mainland.

He said within the framework of existing policies, the group is seeking
to launch more cooperative projects in the Chinese mainland, including
seeking partners in both security and insurance sectors.

HSBC Holdings PLC reported on Monday a 15 percent rise in its net profit
in the first half of 2006.

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Learn Mandarin online - Window-shopping to kill time

BIZCHINA / Biz Life

Window-shopping to kill time
(Chinanews.cn)
Updated: 2006-07-21 13:45

AC Nielsen conducted an on-line survey involving about 22,000 Internet
users from 42 markets around the globe, 74% of whom admitted that
shopping was a hobby to them, and they would like to go shopping even
when they had nothing to buy. That is to say that many people today
choose window-shopping to kill time. Ninety percent of the responders
from Singapore even said that was what they went shopping for. One third
of shoppers on Chinese Mainland and one fifth of the Indians picked
buying clothes as their favorite pastime.

The survey, which also covered the question how often the responders went
shopping, found that 7 Asian markets were on the top-10 list. The top-3
were Singapore, Hong Kong and Thailand, where people went shopping twice
a week on average.

However, people from the Western countries are not so fond of shopping as
Asians. Only 68% of Americans said they would like to go window-shopping,
while most Europeans hated window-shopping.

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Learn Mandarin online

Chinesepod - Workers under high pressure

BIZCHINA / Biz Life

Workers under high pressure
(Chinanews.cn)
Updated: 2006-07-12 10:24

South China Daily recently held a questionnaire survey about the
pressures of the office workers. Ninety-seven percent of 5,000 responders
said they were under pressure, of which 30% complained the pressure was
unendurable.

However, the result also showed something on the bright side. More than
80% of the responders said that pressure would not be a serious problem.
"It is one's attitude toward it that counts," claimed one responder.

Most of the 5,000 responders live in Shenzhen, 45% of whom have worked
for less than 3 years. About 50% of the responders work in privately
owned enterprises. Thirty-four percent of them have a monthly income of
less than 2,000 yuan. Twenty-four percent of them earn 2,000 to 3,000
yuan per month. The monthly salary of 26% of them is over 3,000 yuan but
less than 5,000 yuan. Only 16% of the responders could get more than
5,000 yuan per month.

Most of the complainers gave no thought to where the pressure came at
all. The survey showed that housing, education and medical care were the
principal sources of the financial pressures. Worries about their future
pressed 31% of the office workers very hard. Neglect by their bosses put
16% of the responders under very heavy pressure.

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� China's population to peak at 1.5b in 2030s

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Chinesepod

Monday, December 24, 2007

Chinese School - System to deal with nuclear accidents

BIZCHINA / Weekly Roundup

System to deal with nuclear accidents
(China Daily)
Updated: 2006-07-03 11:01

Export limits

China will limit the number of domestic firms that can export cars next
year, an official from the Ministry of Commerce said last week.

Zhang Ji, deputy director of the ministry's mechanics, electronics, and
hi-tech industry department, said the ministry is drafting a new system
to readjust automobile export orders that will come into effect in
January.

Under the new system, the government will limit the number of companies
that can export vehicles, through the use of export licences.

Emergency system

An emergency response system to deal with nuclear accidents and ensure
the safety of nuclear facilities including those used for military
purposes will be put into place over the next five years.

The system, which was approved last week, will operate at the national,
provincial, municipal and power operator levels, according to the 11th
Five-Year Plan (2006-2010) of the National Co-ordinating Committee for
Nuclear Emergency.

At least 10 technical support centres and four rescue teams will be set
up throughout the country to improve the ability to handle nuclear
emergencies.

Page: 1 2 3 4 5 6

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Chinese School - Skoda to expand auto production in China

BIZCHINA / Overseas Investment

Skoda to expand auto production in China
(AP)
Updated: 2006-06-22 11:37

Czech automaker Skoda said Wednesday it plans to expand future production
in China to three model ranges from the currently planned one in a bid to
build market share in the fast-growing Chinese market.

The company, a unit of Germany's Volkswagen AG, said in news release that
production of the Octavia will begin next year, with the Favia and Superb
model ranges to follow.

The broadened product line will "reinforce the expansion of the brand
Skoda to the Chinese market," the company said.

All three models will be made at Volkswagen's sprawling Shanghai joint
venture plant, where a team from Skoda is already on site readying for
production, Skoda said. All vehicles made there are intended for the
Chinese domestic market, it said.

The move "shows we see China as one of the strategic markets for the
brand's future growth," Skoda Auto AS chairman Detlef Wittig was quoted
as saying in the news release.

Skoda's growth strategy also includes assembly and other manufacturing
projects in Ukraine, Kazakhstan, Russia, Bosnia, and India.

In China, the company is entering a fast-growing but increasingly
competitive auto market which is about to pass Japan as the world's
second-largest.

General Motors Corp., was the top foreign automaker in China last year,
with 11 percent of the market and 665,390 units sold, followed by
Volkswagen.

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Learn Chinese - Standard Chartered sets its foot in China's real estate sector

BIZCHINA / Overseas Investment

Standard Chartered sets its foot in China's real estate sector

Updated: 2006-06-14 14:32

Standard Chartered Private Equity Limited (SCPEL), announced recently it
will invest 50 million US dollars in Shanghai Shimao Group, a leading
property developer.

It is the first time that Standard Chartered has invested in China's real
estate sector, said a Xinhua-run economic newspaper Tuesday adding that
the real estate investment fund Morgan Stanley is also involved in the
deal.

With the steady rise of its economy and rapid urbanization, China's real
estate sector will maintain sustainable and sound development in the
future, the newspaper cited Karam Butalia, global president of SCPEL as
saying.

Located in Shanghai, Shimao Group, one of the largest real estate
developers in China is planning to go public in Hongkong. Shimao has
built residential housing and hotels in nine cities.

"We are confident in Shimao Group as it has a world-wide distribution
network and abundant capital," said Karam Butalia.

Standard Chartered is seeking other partners to make other real estate
investments in the future, said Chen Fan the president of its greater
China region.

Insiders note that Standard Charted is a latecomer to China's real estate
market, behind Morgan Stanley and Goldman Sachs which has invested
heavily in coastal cities.
New government regulations announced last month that were aimed at
stemming the rise of real estate prices did not address foreign
investments in the sector.

Experts said that new strict measures are needed to control the inflow of
large amounts of foreign investment in the real estate sector to further
cool the overheated market.

With a history of over 150 years in banking in many of the world's
fastest growing markets, Standard Chartered has an extensive global
network of over 1,200 branches in 56 countries and regions.

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Learn Chinese

Sunday, December 23, 2007

Learn mandarin - HSBC to start insurance venture in China this year

BIZCHINA / Overseas Investment

HSBC to start insurance venture in China this year
(Bloomberg)
Updated: 2006-06-07 15:33

HSBC Holdings Plc, Europe's largest bank by market value, said it'll
start an insurance venture in China by the end of this year, tapping into
a demand by the growing middle class for protection products.

HSBC is setting up the venture with a Chinese company, said Peter Wong,
executive director for Hong Kong and China, on the sidelines of a
conference in Shanghai today. He declined to name the partner.

International companies are competing to get into China's insurance
market, which expanded 14 percent to 493 billion yuan (US$61 billion)
last year, helped by economic growth and an emerging middle class. Urban
households that earn more than 25,000 yuan a year are expected to rise to
215 million by 2015 from 43 million last year, according to a report by
McKinsey & Co. issued earlier this month.

Bank of Communications Ltd, 19.9 percent held by HSBC, isn't
participating in the venture because domestic lenders aren't allowed to
do insurance business in China, Wong said. HSBC would be the only foreign
shareholder in the venture, he said, declining to give more details.

HSBC said last September that it's partnering with Hong Kong's Hang Seng
Bank Ltd., in which it has a 62 percent stake, to invest in a life
insurance venture in China. The bank owns 19.9 percent of Ping An
Insurance (Group) Co., the country's second-biggest insurer.

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Learn mandarin

Chinese School - Potevio-Nokia 3G joint venture gets preliminary nod

BIZCHINA / Overseas Investment

Potevio-Nokia 3G joint venture gets preliminary nod
By Li Weitao (China Daily)
Updated: 2006-06-02 08:42

Chinese telecoms equipment maker Potevio and Finland-based Nokia have
secured preliminary approval from regulators to establish a joint venture
to develop 3G (third generation) mobile communications technology.

The National Development and Reform Commission (NDRC) said on its website
that it has approved a joint venture between the two firms with an
investment of 900 million yuan (US$112 million).

Potevio, formally known as China Putian Corp, will have a 51 per cent
stake, with Nokia owning 49 per cent.

The joint venture will mainly manufacture and market telecoms equipment
such as base stations, based on the 3G standards TD-SCDMA and WCDMA.

TD-SCDMA is a home-grown Chinese standard, while WCDMA is a widely
adopted global standard.

"We are still waiting for approval from the Ministry of Commerce
(MOFCOM)," said Tao Xiongqiang, vice-president of Potevio, in a telephone
interview yesterday.

With the final green light from the MOFCOM, the joint venture will begin
building a plant in Wuhan, capital of Central China's Hubei Province.

"We hope the plant will be operational before the end of this year," said
Tao, who is also the chairman of the joint venture.

Potevio and Nokia said they would establish the joint venture last
October. Under the deal, all products will use the Potevio brand, owned
by Putian.

In 2004, Potevio and Canadian communications giant Nortel Networks signed
a memorandum of understanding for a similar joint venture.

But the planned venture was later dissolved, with Nokia replacing Nortel.

Prior to Nokia, Alcatel, Siemens and Ericsson have also set up joint
ventures and strategic alliances with local firms to develop TD-SCDMA.

TD-SCDMA remains an unproven technology as it is not yet in commercial
use.

Tang Ruan, president of Datang Mobile, the major developer of TD-SCDMA,
said increasing interest from foreign giants will help speed up the
commercial deployment of the Chinese technology.

And "now some overseas cellular operators are also showing interest in
TD-SCDMA," he told China Daily.

France Telecom in May joined an industry alliance promoting TD-SCDMA
technology as the first overseas operator.

Currently, China Telecom, China Mobile and China Netcom, three of China's
top four telephone carriers, are testing TD-SCDMA in three cities.

So far, the ongoing trials have been "basically smooth," Tao said.

It is widely anticipated that Chinese regulators will not award operators
with 3G licences until the TD-SCDMA trials are completed.

With strong support from the Chinese Government, TD-SCDMA is expected to
take a large share of the future 3G market  as much as one-third,
according to some industry executives and analysts.

The build-out of 3G networks in the country is expected to cost hundreds
of billions of US dollars.

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Chinese Online Class - China, Japan start forum on energy saving cooperation

BIZCHINA / Top Biz News

China, Japan start forum on energy saving cooperation
(Xinhua)
Updated: 2006-05-29 14:58

China and Japan started a forum on energy saving Monday in Tokyo, aiming
to enhance the two countries's cooperation on energy efficiency and
environment protection.

At the opening of the forum, visiting Chinese Commerce Minister Bo Xilai
said China has set a goal of lowering energy consumption per unit of
gross domestic product by 20 percent by the end of 2010 as against 2005
levels.

"I expect this forum will form a basis for a win-win relationship between
industries of the two countries," he said.

Japanese Economy, Trade and Industry Minister Toshihiro Nikai said "Japan
survived two energy crises since the 1970s and has endeavored to build an
energy-saving and environmental-friendly society,"

Nikai hoped to share the experience with China and, by doing that,
construct new cooperative relations between the two countries. He briefed
on Japan's practice in lifting energy efficiency through law, taxation,
education, pricing system and others.

Japanese Environment Minister Yuriko Koike said Japan and China face
common environmental challenges and called for cooperation in various
areas.
The two countries signed several documents on energy saving cooperation
on Monday morning.

"Increasing exchanges on the (energy and environment) fields would open
new areas of cooperation for China and Japan and help forge new common
interests for the two countries," Wang Yi, Chinese Ambassador to Japan
said at the opening.

In times of difficulties of political ties, cooperation in energy and
environmental issues would "provide new momentum to the improvement of
Sino-Japanese relations," Wang added.

Some 780 government officials, business representatives and academics
from the two countries are taking part in the three-day forum.

Participants are to discuss on industrial sectors including steel,
automobiles, cement and fuel cell. The Chinese delegates will visit
Japanese power plants and recycling facilities to learn Japanese
experiences in increasing energy efficiency and conserving environment.

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