Monday, December 31, 2007

Chinese Online Class - B shares

BIZCHINA / Backgrounder

B shares

Updated: 2006-09-26 09:55

B shares are foreign-invested shares issued domestically by PRC's
companies. B Shares are also known as Renminbi Special Shares.

B shares are issued in the form of registered shares and carry a face
value denominated in Renminbi. B Shares are subscribed and traded in
foreign currencies and are listed and traded in securities exchanges
inside China.

The B Share Market came into existence in 1991. By the end of April 1999,
there were totally 107 B Share issuers. There were 54 B Share companies
listed in Shenzhen with a total capitalization of RMB10.94 billion
whereas there were 53 B Share companies listed in Shanghai with a total
capitalization of 9.778 billion yuan.

The B Share Market has attracted a considerable amount of foreign
investors. The Market provides an additional channel for foreign capital
thereby enhancing the progress of the evolvement of PRC's securities
market.

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Chinese Online Class

Chinesepod - EU-China talks mark growing maturity

BIZCHINA / Voice

EU-China talks mark growing maturity

By Benita Ferrero-Waldner (China Daily)
Updated: 2007-01-17 15:54

As we look forward to the Year of the Pig, we are all hoping for good
things: greater prosperity for ourselves and for others, peace in the
world, progress in tackling the challenges that face us.

EU Commissioner for External Relations Benita Ferrero-Waldner (L) and
Chinese Vice Minister of commerce Yi Xiaozhun toast after taking part in
the signing of agreements between China and the EU to create a law school
meant to improve their understanding of each other's legal systems at a
ceremony in Beijing, January 17, 2007. [Reuters]

I believe that this will indeed be an important year, but I believe that
we have a responsibility to make our own good fortune. The factors that
govern the well-being of people across the world trade, security, climate
change, energy security are not matters of luck. We have to be proactive.

This week I am visiting Beijing to launch negotiations on a new
Partnership and Cooperation Agreement between the European Union and
China an agreement that I believe will contribute to a better future for
millions of people.

Together the EU and China make up almost one third of the people on the
planet. When we act together it has an impact not only on our own
bilateral relationship but on the wider world.

We are building a strategic partnership that already has a strong base:
Europe is China's biggest trading partner. We are both committed to
strong and effective multilateral institutions. We both recognize the
need for a coordinated response to global challenges like climate change.

Two emerging giants

And we are both emerging giants. China is changing before our eyes,
almost literally. Spectacular economic growth has been harnessed to raise
more people out of poverty more rapidly than ever before. The European
Union is growing in size and in its capacity to act on the world stage.
We are both gaining in influence and responsibility. And the truth is
that whether we are talking about international challenges like nuclear
proliferation, or the environment, or fair trade, neither of us will
fully realize our objectives without a firm and effective partnership
with the other.

1 2 3 

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Chinesepod

Chinese Online Class - Lafayette plans to ship copper and zinc to China

BIZCHINA / Overseas Investment

Lafayette plans to ship copper and zinc to China

(Reuters)
Updated: 2007-01-15 10:41

Australia's Lafayette Mining Ltd plans to ship a total of 2,670 tonnes of
copper and zinc concentrate to China this week and next from its
Rapu-Rapu project in the Philippines, an industry source said on Saturday.

The source said the total included an initial 870 tonnes of copper
concentrate, its first output of the metal from Rapu-Rapu, which a
company spokesman had already said would be shipped.

"Another 1,800 tonnes of copper and zinc concentrate may be shipped next
week, also to China," the source, who asked not to be identified, told
Reuters.

The copper was incidental production from the Rapu-Rapu project during
the test run of the base metals plant last year, before it was forced to
shut in early December due to damage caused by a typhoon. Both shipments
have been sold to South Korean trading firm LG International Corp, the
source said. Horacio Ramos, head of the Philippines' Mines and
Geosciences Bureau, said there was no legal impediment for Lafayette to
sell incidental production from its Rapu-Rapu mine. "They can sell their
production as long as they pay the excise tax," he told Reuters.

The government allowed Lafayette to test its base metals facility
starting July 10 until Dec. 8 last year, after two cyanide spills in
October 2005 that led to a temporary closure.

On Thursday, Lafayette spokesman Bayani Agabin said his firm aims to
reopen Rapu-Rapu in February after getting Philippine regulatory
approval. Typhoon Durian, in late November, toppled electrical poles and
damaged housing facilities for the staff at the mine. But there was no
critical damage to the base metals plant, Agabin said.

The Rapu-Rapu project was the first foreign-owned mine to open after the
Supreme Court upheld in December 2004 the legality of a law granting 100
percent foreign ownership of mining projects, up from 40 percent
previously. But the spills in Rapu-Rapu raised the ire of Philippine
Catholic bishops and environment groups.

Before the suspension, the mine was forecast to generate revenues of $350
million a year from production of 10,000 tonnes of copper in concentrate,
14,000 tonnes of zinc, 50,000 ounces of gold and 600,000 ounces of silver.

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Chinese Online Class

Chinese Mandarin - Top 10 News unveiled

   Chinadaily Homepage

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

  2008Olympics > people olympics

Top 10 News unveiled

(BOCOG/chinadaily.com.cn)
Updated: 2006-12-28 18:58

The Top Ten News Stories on Beijing Olympic Games (2006) were unveiled on
Thursday, with "Chinese government attaches great importance to Olympic
preparation" and "Affordable ticket prices announced for the Beijing 2008
Olympic Games" standing high on the list.

BOCOG Executive Vice President Jiang Xiaoyu receives the interview during
The Top Ten News Stories on Beijing Olympic Games (2006) unveiling
ceremony December 28,2006.[BOCOG]

BOCOG Executive Vice President Jiang Xiaoyu and other dignitaries
attended the unveiling ceremony and announced the results. On hand were
also athletes' representatives, including twin sisters Jiang Wenwen and
Jiang Tingting, first Chinese gold metal winners in synchronized
swimming, and Asian Games weightlifting gold medalist Qiu Le.

Athletes' representatives,twin sisters Jiang Wenwen and Jiang Tingting,
first Chinese gold metal winners in synchronized swimming,performs during
The Top Ten News Stories on Beijing Olympic Games (2006) unveiling
ceremony December 28,2006.[Reuters]

In his speech, Jiang Xiaoyu said remarkable progress has been made in the
construction of the official website of the Beijing 2008 Olympic Games
over the last year. After the launch of the new edition, steady increase
has been seen in the number of visitors to the site, which has become a
key window for the broad masses to pay attention to, support and take
part in the Olympics.

The selection campaign was sponsored by the official website of the
Beijing 2008 Olympic Games (www.beijing2008.cn), People's Daily online
(www.people.com.cn), and Xinhuanet (www.xinhuanet.com).

Since its launch on December 17, the campaign has attracted growing
interest and support from Internet users across the country and abroad,
with votes coming from all provinces, autonomous regions and
municipalities, as well as Hong Kong Special Administrative Region (SAR)
and Macao SAR. Votes also came from over 50 countries and regions,
including Australia, Russia, Canada, Indonesia, Singapore, Republic of
Korea, Sri Lanka, Brazil, Norway, Greece, Nepal, and the Bahamas. Up to
December 28, over 300,000 votes have been received.

The selection campaign was supervised by the Internet Affairs Bureau of
the State Council Information Office and BOCOG Media and Communications
Department. SOHU.com inc., the official Internet Content Service Sponsor
for Beijing 2008 Olympic Games, extended special support.

Top Ten Olympic New Stories (2006):

1.Chinese government attaches great importance to Olympic preparation.

2.Affordable ticket prices announced for the Beijing 2008 Olympic Games

1 2 3 4 5 

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Sunday, December 30, 2007

Learn Mandarin online - Time-honoured brands face test of time

BIZCHINA / Weekly Roundup

Time-honoured brands face test of time

By Diao Ying (China Daily)
Updated: 2006-12-20 11:05

Classic Chinese liquor Maotai is sold at a supermarket in Shanghai. The
liquor has more than 100 years of venerable history. [China Daily]

During his first visit to China in 1972, former US President Richard
Nixon received two pandas from the Chinese Government as a sign of
friendship a gesture widely appreciated in the United States.

What's less known is that he also took home some milk candy as a special
gift from then Premier Zhou Enlai.

White Rabbit milk candy is even today a household name in China the story
goes that it was Zhou's favourite snack when he worked late at night.

And it was also the secret love weapon of world champion weightlifter
Zhang Guozheng, who moved his girlfriend with 20 kilograms of the candy.

White Rabbit is one of many long-standing and famous Chinese brands tied
to social development and key historical events.

Yesterday, the Ministry of Commerce gave the designation of
"time-honoured brand" to 430 brands around China. According to selection
criteria, these brands must have been in existence before 1956 and highly
popular among customers.

Worldwide, China-made textiles and home appliances enjoy great popularity
and contribute greatly to the country's trade surplus because of their
low price and good quality.

At home, however, old brands are struggling to gain a foothold in the
domestic market, where competition from multinational giants is
intensifying.

These brands have experienced hardships during their long history. After
being established by a family or an individual hundreds of years earlier,
most of the enterprises became State-owned in the 1950s. After decades
under the planned economy, they've started to face fierce competition
under the market economy.

Fang Shuying, chairwoman and general manager of Tianjin Laomeihua shoe
shop, said a heritage brand is more than a product; it represents the
culture of China and has deep traditional roots.

Set up in 1911, her shop first became well-known for its specially made
shoes for the bound feet of Chinese women living in the era before the
People's Republic of China was founded in 1949. Back then, the saying
"3-inch golden lotus" described the ideal foot of Chinese women.

1 2 3 

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Chinese language - Kiwi dairy lines up cow land in Hebei

BIZCHINA / Overseas Investment

Kiwi dairy lines up cow land in Hebei

(Shanghai Daily)
Updated: 2006-12-14 09:26

New Zealand-based Fonterra Cooperative Group said yesterday it will set
up a dairy farm in China to help boost the growth of its venture with
Shijiazhuang Sanlu Group Co in Hebei Province.

Fonterra is now in discussions with government authorities on the land
that will be used for 3,000 cows under a plan to start production in
October 2007.

A Sanlu Group representative surnamed Cui said the farm will be in
Tangshan, where several domestic dairy companies are already located.

Fonterra invested US$107 million for a 43 percent stake in Sanlu a year
ago.

Fonterra Milk Supply Director Barry Harris said in a statement that the
farming operation would use Fonterra's agricultural knowledge and
production expertise to provide quality milk for Sanlu and meet the
increasing demand for high-quality milk in China.

"China's dairy industry is expanding rapidly, and milk production is
expected to increase from 22 billion liters to 40 billion liters in seven
years," Harris said.

Fonterra holds a one-third share of the world dairy trade.

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Chinese language

Chinese Online Class - Investment opportunities in 'Chindia'

BIZCHINA / Investment Alerts

Investment opportunities in 'Chindia'

(Xinhua)
Updated: 2006-12-05 13:35

The term "Chindia", a combination of China and India, is being used by
some economists as they gauge the economic performance of the two Asian
juggernauts.

The rise of China and India will change the world economy and generate
investment opportunities in the consumer, agricultural, industrial,
banking and logistics sectors, the China Securities Journal quoted Jing
Ulrich, managing director and head of markets in China with JP Morgan
Chase & Co, as saying.

Her remarks were echoed by Timothy J Bond, analyst with Merrill Lynch &
Co., who pointed out in a report that the Indian stock market had grown
much faster than the Chinese market in recent years but the latter had
enormous potential.

Jing Ulrich said overseas fund managers were looking at the two countries
as key investment destinations following Chinese President Hu Jintao's
state visit to India which ended November 23.

Ashburton, an asset management company based in Jersey, the United
Kingdom, launched in November a Chindia Equity Fund that invests in
Chinese and Indian companies, according to the newspaper.

The company decided to launch the fund as China is expected to grow at a
rate of eight percent to 10 percent per year for a long period, while a
growth rate of eight percent is projected for India, said fund manager
Jonathan Schiessel.

He said consumer demand would grow exponentially in both countries,
driven by an expanding generation with higher aspirations, offering
investors tremendous opportunities.

China's economic growth mainly relied on investments and exports, while
consumption provided great impetus to India's economy, said Jing Ulrich.

Investment and consumption contributed 43 percent and 40 percent of
China's gross domestic product (GDP) in 2006, compared with 27 percent
and 60 percent of India's GDP, according to her latest report.

The high savings rate of 45 percent in China led to a fast increase in
investment and a decline in investment returns, while the opposite case
in India made the country more favorable for overseas investors.

India needs better infrastructure, more investment and greater openness
to foreign trade and investment, said Timothy J Bond, adding that China
should encourage consumer spending and boost the service sector.

1 2 

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Learn mandarin - Air China hamstrung by soaring oil price

BIZCHINA / Oil Price Hike

Air China hamstrung by soaring oil price

By Hui Ching-hoo (HK Edition)
Updated: 2006-08-31 07:49

Due to soaring oil prices, the largest mainland carrier Air China posted
a 22.5 per cent drop in net profits to 458 million yuan in the first
half, compared with 591 million yuan a year ago.

The setback came despite that the carrier's turnover increased 17.6 per
cent to 20 billion yuan. Analysts pointed out that the carrier was long
hit by oil price hikes, and it is unlikely to recover from the downturn
soon.

"It is a tough time for the mainland aviation business," said Andes
Cheng, associated director of South China Research. "The recent fuel
surcharge can do little to offset the fuel cost as oil price keeps
lingering at a high level."

The State Council earlier had given the nod for local carriers to
increase fuel surcharge again, from 30 to 80 yuan for short-distance
flights below 800 kilometres, and from 60 to 100 yuan for long-haul
flights more than 800 kilometres. The charge will be effective from
tomorrow.

"The result of Air China matches my expectation that the high fuel costs
outstripped its passenger and cargo growth," said Casor Pang, strategist
of Sun Hung Kai Financial Group.

Pang also said that the three mainland largest carriers Air China, China
Eastern Airlines and China Southern Airlines are hardly to turn their
businesses around since fuel accounts for more than 20 per cent of their
total costs.

Air China's fuel cost accounted for 34 per cent of its overall operating
expenditure of 11.7 billion yuan at the end of 2005, rising 5.2 per cent
from the previous year.

High oil prices also dampened investors' confidence in the carrier.

Air China had to trim the size of its recent A-share IPO to 40 per cent
of what it had previously planned and offered only 1.64 billion A shares.

The only good news for Air China could be its acquisition of a 10 per
cent stake in Hong Kong's dominant carrier Cathay Pacific, analysts said.

"The deal is expected to deliver financial benefits in 2007," an analyst
said.

Its A shares performed bearishly on trading debut on August 18, with
prices once plunging below offering price of 2.8 yuan, the poorest debut
since the re-open of the A-share market in May.

Air China's H shares rose 31 per cent in the first six months of 2006,
beating a 27 per cent rise of Hong Kong's Chinese Enterprise index during
the same period. It closed at HK$2.75 yesterday, up 1.1 per cent.

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Saturday, December 29, 2007

Learn Chinese online - Foxconn to invest US$1.2b in new mainland plant

BIZCHINA / Overseas Investment

Foxconn to invest US$1.2b in new mainland plant

(Shenzhen Daily-Agencies)
Updated: 2006-11-21 14:33

Foxconn International Holdings, the mobile handset arm of Taiwan's Hon
Hai Precision Industry Co, plans to invest around US$1.2 billion to build
a new plant on the mainland, a company spokesman said yesterday.

The factory will be built in the northern city of Langfang in Hebei
Province, between Beijing and Tianjin. The location of the plant is
convenient as it lies close to the firm��s customers.

As global demand grows, Foxconn, which produces mobile phones for the
likes of Nokia and Motorola Inc, has also been looking at other sites to
build more facilities on the mainland.

"The current capacity we have in Shenzhen and Beijing won't be able to
support our foreseeable future growth so we need land for future
expansion," Vincent Tong, a Foxconn spokesman, told reporters by
telephone.

"We see this as a five-year plan," he said. ��Our CFO has already signed
onto this investment."

Operative in 1994, Foxconn's Shenzhen factory employs more than 100,000
workers and has been the top exporter among overseas investments in
Shenzhen over recent years.

Hon Hai, Taiwan's top electronics parts maker, has been aggressively
securing orders from top multinational vendors under its Foxconn
subsidiary to strengthen its stance in the highly competitive mobile
phone industry.

Hon Hai, with a market value of US$31.4 billion, is Taiwan's largest
listed technology firm by revenue and it makes iPods for Apple Computer
Inc, computers and components for Dell Inc., Hewlett-Packard and Sony
Corp.

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Chinese language - Mining giant to invest in Shaanxi

BIZCHINA / Overseas Investment

Mining giant to invest in Shaanxi

(Shanghai Daily)
Updated: 2006-11-16 15:01

Anglo American PLC, the world's second-biggest mining company, may invest
as much as US$4 billion in a coal project in China's Shaanxi Province,
according to Chairman Mark Moody-Stuart.

The company has partnered the Shaanxi Coalfield and Geological Bureau to
develop the Xiwan clean coal chemicals project in the northwestern
province, Moody-Stuart said. "Investment could involve some US$4 billion,
although our current capital investment is only US$300 million,"
Moody-Stuart today the China 2006 Mining conference in Beijing yesterday.

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Related Stories 

� No more "free launch" for coal mine developers
===========================================================================
� Western China tries to balance environment and development
===========================================================================
� Energy output in Shaanxi reports rapid growth
===========================================================================

Chinese language

Learn mandarin - Amazon.com sets up hub in Suzhou

BIZCHINA / Overseas Investment

Amazon.com sets up hub in Suzhou

(Xinhua)
Updated: 2006-11-13 14:40

Amazon.com, the world's largest online retailer, has set up a new
operation center in eastern China to facilitate sales in one of the
country's most prosperous regions and profit from growing consumer
spending.

It is part of several strategic moves the US-based company has taken in
the past two months to compete with its major rival in China,
dangdang.com, which is more popular than its Chinese unit joyo.com.

The 11,000-square-meter center in Suzhou in Jiangsu Province is the
second-largest center. The investment size was not disclosed.

"The new operation center is evidence of our plans to enhance the scope
of our services and to enable more customers to enjoy a higher quality of
online shopping experience," said Wang Hanhua, president of Joyo.

"As we have expanded Joyo's product selection, we will work to lower
prices and help our customers find exactly what they need on our trading
platform."

Joyo has widened its range to 400,000 products like books, music, DVDs
and digital cameras in a shift from focusing on a small selection of
high-quality goods.

It trails dangdang.com. A latests survey by Analysys International, a
Beijing-based researcher, showed 31.3 percent of consumers would choose
joyo while 39 percent would opt for dangdang.

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Related Stories 

� Amazon to keep low-price strategy in China
===========================================================================
� Dangdang.com slips good chance to join Amazon
===========================================================================
� Amazon purchases Chinese Joyo.com at US$75m
===========================================================================

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Learn Chinese online - Luxury brands for women

BIZCHINA / Biz Life

Luxury brands for women

(Shanghai Daily)
Updated: 2006-11-03 14:54

Women in China are catching up to men as consumers of luxury goods,
industry officials said yesterday.

A Chanel shop in Shanghai. Women in China are catching up to men as
consumers of luxury goods, industry officials said yesterday. [newsphoto]

More economic independence is giving women more buying power, a speaker
told the annual China Luxury Summit in Shanghai.

And as incomes rise and the middle class expands, research indicates that
shoppers in Shanghai are increasingly turning up their noses at luxury
goods, while consumers in second-tier cities can't get enough.

"Men have been the traditional buyers, and in 2001, three out of four
consumers were men," said Emmanuel Prat, president of LVMH Moet Hennessy
Louis Vuitton, the world's biggest luxury goods group with products
ranging from perfume to champagne.

1 2 

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Friday, December 28, 2007

Chinese language - Light Industry: Rising sales lift Yanjing net profit

BIZCHINA / Biz Media Digest

Light Industry: Rising sales lift Yanjing net profit

(Shenzhen Daily)
Updated: 2006-10-27 14:08

Beijing Yanjing Brewery Co., China��s second-biggest beer producer by
market value, said yesterday third-quarter profit rose 5 percent as
economic growth spurred beverage consumption.

Net income rose to 142 million yuan (US$18 million), or 0.13 yuan a
share, from 135.1 million yuan a year earlier, the Beijing-based company
said in a statement to the Shenzhen Stock Exchange, citing domestic
accounting standards. Sales rose 9 percent to 2.06 billion yuan from 1.9
billion yuan.

The domestic beer market, already the world��s biggest, will expand as
much as 5 percent a year through 2008, compared with growth of 0.7
percent for the United States and 2.5 percent in Europe, according to
research firm Canadean. SABMiller Plc., InBev NV, Heineken NV and other
overseas brewers have stepped up expansion in China to counter stagnant
sales at home.

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Chinese Online Class - Consumer Price Index - CPI

BIZCHINA / Macro Economy

Consumer Price Index - CPI

(chinadaily.com.cn)
Updated: 2006-10-20 15:29

The Consumer Price Index (CPI ) is a measure of the average change in
prices over time in a market basket of goods and services.

The CPI is a price index that tracks the prices of a specified basket of
consumer goods and services, providing a measure of inflation. The CPI is
a fixed quantity price index and considered a cost-of-living index. It is
also known as the Retail Price Index in the UK.

The CPI can be used to track changes in prices of goods and services
purchased for consumption by households, i.e., of the consumer basket.
User fees (such as water and sewer service) and sales and excise taxes
paid by the consumer are also included. Income taxes and investment items
(such as stocks, bonds, life insurance, and homes) are not included.

The core CPI index excludes goods with high price volatility, such as
food and energy. This measure of core inflation systematically excludes
food and energy prices because, historically, they have been highly
volatile. More specifically, food and energy prices are widely thought to
be subject to large changes that often fail to persist and frequently
represent relative price changes. In many instances, large movements in
food and energy prices arise because of supply disruptions such as
drought or OPEC-led cutbacks in production.

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Chinese School - Life of knowledge wealthy class

BIZCHINA / Biz Life

Life of knowledge wealthy class

(chinanews.cn)
Updated: 2006-10-16 15:13

There has appeared in Chinese society a new group of people that are
termed as the knowledge wealthy class. Most of these people are aged
between 25 and 39. They have received a good education and work in IT
sector, finance, or the arts. They drive Audi instead of BMW, and put
their money for investment instead of buying gold. Most of them like
adventures and have little interest in golf.

Such is the way of life for the knowledge wealthy in China. Recently, the
Sinomonitor International, a Beijing-based consulting firm, carried out a
survey about them. The survey covered more than 10,000 young rich people
in 12 cities across China. Compared with 2005, the proportion of the
knowledge wealthy has increased by 2 percentage points to account for 45%
of the rich people in China. In other words, 45% of the young rich people
in China work in industrial sectors that are characterized by new
knowledge, new economy and new technologies or in new service sector. A
large number of the knowledge wealthy are concentrated in Beijing.

Deputy manager of the Sinomonitor International Liu Rong said the young
rich have the following characteristics: they become rich at a very young
age; most of them have a good financial background, either because they
make good money or because they are born in a wealthy family; and many of
them have received a good education and have a strong consumption power.

These people have become the main driving force of consumption. Every
year, their family expenditure exceed 100,000 yuan, mostly in buying
durable goods or fashion gadgets, dining out, traveling, or maintaining
cars. They are willing to search for new information, as 80% of them read
newspaper or surf the Internet everyday. In addition, these people
advocate new lifestyle. 70% of them think that if they have enough money,
they should enjoy life. So most of them travel out of town, go in for
physical exercise or visit beauty parlours regularly.

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Learn Mandarin online - Criteria of Market Economy

BIZCHINA / Macro Economy

Criteria of Market Economy

(china.org)
Updated: 2006-10-09 16:11

The questions "What is a market economy?" "What is a standard market
economy?" or rather "What are the standards for a market economy?" would
naturally pop up when people are talking about some countries being
market economy countries and some enterprises being market economy
enterprises. For if not so, how come the conclusion as to whether a
country is or is not a market economy country?

As a matter of fact, the existence of criteria of a market economy is
controversial. Each one gets a reason to support his or her own idea. We
hereby accept a proposition, i.e., criteria of market economy do exist,
put forward due to anti-dumping cases involved in international trade,
but also believe that the criteria are established on a relative basis.

Some well-recognized market economy countries, we have discovered,
practice various economic systems. It is difficult to say, therefore,
that certain country is a standard market economy country, while any
other country not exactly the same cannot be regarded as a market economy
country. Due to different traditions and development phases, countries
inevitably differ in the form, even the contents of their market economy
to a certain extent. The existence of differences does not mean there are
no market economy criteria, however, and it is unacceptable to deny the
existence of market economy criteria due to such differences. As an
economic system in human history, the market economy came into being in
modern times and is flourishing nowadays. It differs from either
historical self-sufficient economy or planned economy, and certainly has
its intrinsic definition that refers to the commonness of various market
economy countries at different development stages. The commonness, being
sorted out from various market economy countries, shapes a framework,
which will facilitate us to judge a country's status of market economy in
anti--dumping cases. While it is reasonable to admit that there are
certain criteria of market economy, it is incorrect to rigidly apply such
criteria in an arbitrary way. The framework of market economy criteria is
a range of fundamental characteristics of market economy, a status
section with certain allowable differences and variations, and a varied
status section of market economy taking the commonness of different
countries' market economy as a dominant factor and supplemented with
variations, rather than an absolute concept, a point or a line.

1 2 3 4 5 6 7 8 

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Thursday, December 27, 2007

Learn Chinese online - Finance: Regulator lists offenders

BIZCHINA / Biz Media Digest

Finance: Regulator lists offenders

(Shenzhen Daily)
Updated: 2006-09-28 16:11

The foreign exchange regulator yesterday published its first list of
companies that have violated currency regulations in recent years and
been involved in financial fraud.

More than 400 firms had flouted rules laid out by the State
Administration of Foreign Exchange (SAFE), in some cases by creating
shell companies to obtain foreign exchange and loans and evade taxes,
SAFE said on its Web site. In one such case, an individual had registered
more than 10 shell companies to unlawfully obtain more than 8,000 trade
verification dockets from the regulator involving goods worth US$52
million.

SAFE said it published the list in a bid to improve transparency and
clamp down on financial fraud.

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Chinese Online Class - Major maintenance on Summer Palace in Beijing ends

   Chinadaily Homepage

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Major maintenance on Summer Palace in Beijing ends

(Xinhua)
Updated: 2006-09-26 10:50

Major sites of the world famous Summer Palace in Beijing, a splendid
resort for imperial families of the Qing Dynasty (1644-1911), reopened to
tourists on Saturday after comprehensive restoration.

The reparation work of the Summer Palace in Beijing was completed and
reopened to the public on September 23, 2006. The new look of the Summer
Palace attracts a great number of tourists [cnsphoto]
The restoration project, which started in April 2004 and cost more than
60 million yuan (U.S.$7.5 million), included the landmark architectures
of the Fragrant Buddha Pavilion, Long Corridor and Cloud Fairyland Hall.

More than 9,300 square meters of ancient buildings were repaired,
according to administration officials of the resort, which is on the list
of China's state-level protected historical sites and the list of UNESCO
World Cultural Heritage.

With a length of 728 meters, the Long Corridor is the longest ancient
garden aisle. It zigzags around the Kunming Lake and connects four
pavilions and 273 halls, on which colorful brushworks featuring animals,
flowers, landscapes, tales and ancient stories were painted.

The Fragrant Buddha Pavilion served as a place for religious worships and
the Cloud Fairyland Hall was a place for recreational activities of the
imperial family during the Qing Dynasty.

New guarding monitors, fire control facilities and water-electricity
supply systems were also installed in the maintenance.

Along with the Summer Palace on Beijing's western outskirts, the Chinese
capital has decided to spend more than 400 million yuan (U.S.$50 million)
for repairing or maintaining its heritage sites and cultural relics.

Of the total amount, 100 million yuan (some U.S.$12.5 million) will be
used for repairs on the Forbidden City, the imperial court complexes of
China's last two dynasties, the Ming (1368-1644) and Qing (1644-1911).

The remaining approximately 300 million yuan (U.S.$37.5 million), offered
partially by the municipal government and partially by district
governments, will be used to restore 20 cultural sites.

Mei Ninghua, head for Beijing's cultural relics affairs, said the city
government will also carry out maintenance work on all of the city's
approximately 300 cultural relic sites before 2008.

According to Mei, Beijing's citywide restoration project in preparation
for the 2008 Beijing Olympic Games has caught the eyes of foreign
governments and companies.

Chinese Online Class

Chinesepod - Veolia aims to expand China business

BIZCHINA / Overseas Investment

Veolia aims to expand China business
(Shenzhen Daily)
Updated: 2006-09-21 14:39

Veolia Environnement SA, the world's largest water company, said it aims
to supply and treat water for as many as 50 million people in China in 10
years, as the country continues to overhaul its networks.

Veolia should be able to add two to three contracts covering 3 million
people a year, Antoine Frerot, chief executive officer of the company's
water unit said in Beijing late yesterday. The Paris-based Veolia already
manages water systems, including supply and waste treatment, for 18.7
million people in China.

Veolia and rival Suez SA have invested a combined 1 billion euros
(US$1.27 billion) in China��s urban water treatment and distribution
systems since the government opened the market to foreign companies in
2002. China has pledged to spend US$125 billion cleaning up its scarce
water supplies by 2010, as well as upgrading water systems to cope with
rapid urbanization.

"If we make the assumption that the market will stay bullish, and I think
it will, we can hope to stay at the same speed of growth" of two to three
contracts a year, Frerot, 48, said. Veolia will continue to increase
investment in China by about 25 percent a year over the next decade, the
CEO said.

The company has spent 500 million euros in China and secured contracts in
cities including the capital Beijing, Shenzhen and the Pudong region of
Shanghai, said Frerot, who heads Veolia Water.

Last week, Veolia signed its 19th contract in China, to upgrade and
manage waste water treatment and water distribution services over the
next 30 years in Liuzhou City, which has a population of 1 million, in
Guangxi.

The company supplies water to about 110 million people and trash
recycling for some 74 million. It has expanded its water business to the
U.K. and in central Europe and was interested in buying the water assets
of rival Suez.

Veolia will also pursue contracts to install waste water treatment
equipment in factories as more industrial polluters try to comply with
government environmental protection guidelines, Frerot said.

"We��re not only interested in municipal customers. We're also interested
in serving industries that are using large quantities of water and
polluting," he said. ��The rules and regulations are getting stronger,
forcing them to treat waste water properly.����

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Chinesepod - IT industry: Expenditure likely to grow

BIZCHINA / Biz Media Digest

IT industry: Expenditure likely to grow
(China Daily)
Updated: 2006-09-15 14:00

China's small and medium-sized enterprises (SMEs) are likely to spend
hundreds of billions of yuan on IT products in the next two years,
according to a report released by a research company.

IT expenditure by the companies is expected to grow 16.5 per cent this
year from last year, to 142.77 billion yuan (US$17.85 billion). The
expenditure will likely rise to 186.92 billion yuan (US$23.4 billion) in
2008, said the report released by the China Centre for Information
Industry Development Consulting.

Spending on computer hardware accounted for 67.6 per cent of last year's
IT expenditure by SMEs but its rate of growth is lower than that of the
IT market as a whole. Expenditure on IT services grew by 20 per cent last
year, said the report.

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Learn Mandarin online - Macro Economy: Shanghai's GDP grows 12.4%

BIZCHINA / Biz Media Digest

Macro Economy: Shanghai's GDP grows 12.4%
(Shanghai Daily)
Updated: 2006-09-13 11:24

Shanghai's economy grew by 12.4 percent in the first eight months of this
year from a year earlier, keeping with the growth pace of the first half,
Shanghai Mayor Han Zheng said yesterday, according to Shanghai media.

Fixed-asset investments in the period grew 9.5 percent, after expanding
8.6 percent in the first half. Investments in infrastructures and public
utilities accelerated in the period.

Energy consumption for every unit of GDP dropped by 4.7 percent. The city
plans to cut the figure by 20 percent in 2010, compared with that of 2005.

Shanghai created 542,000 job opportunities in the period, aiming to
create net 500,000 positions by the end of this year.

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Wednesday, December 26, 2007

Learn Chinese - Papermaker sets eyes on Chinese forest holdings

BIZCHINA / Overseas Investment

Papermaker sets eyes on Chinese forest holdings
(Shanghai Daily)
Updated: 2006-09-07 14:07

Stora Enso Oyj, the world's largest papermaker, plans to triple forest
holdings in China, making its largest timberland investment outside
Europe, as rising paper demand causes a shortage of raw material.

Stora aims to increase its pulp-wood forest to 160,000 hectares by 2010,
said Kari Tuomela, president of the Helsinki-based company's forestry
unit in China. That's twice the size of New York City. Pulp, a mixture of
wood and chemicals, is the raw material for paper used in offices,
catalogues, books and glossy magazines.

China is the world's fastest-growing paper market, leading Stora and
rivals such as Oji Paper Co to invest about US$3 billion in high-speed
papermaking machines there in the past year. The government began
encouraging overseas investment in forestry five years ago to reduce
reliance on world markets. Pulp prices have risen 21 percent over the
past year, Bloomberg News reported.

"It makes a great deal of sense to be involved in domestic fiber," said
Linus Larsson, Stockholm-based analyst at ABN Amro Holding NV. "China is
a large net importer."

The price of northern bleached softwood kraft pulp, a benchmark grade,
has risen US$123.65 a metric ton in the past year to US$708.37 a ton
according to Forest Web.

China overtook the United States as the biggest buyer of pulp in 2004 and
has long been the biggest importer of wastepaper, which is used as a pulp
substitute and to make cardboard boxes. Stora is one of the biggest
foreign holders of forests in China.

"China's demand for pulp is on an upward trend, and won't slow down till
at least the first quarter of 2007," Alf Henrik Gistren, the general
manager of Brazilian pulp maker Aracruz Celulose SA's Asian unit, said.

Aracruz, Latin America's largest pulp producer, exported 400,000 tons to
China last year, the largest amount after Indonesia's Asia Pacific
Resources International.

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Learn Chinese online - Light Industry: TCL losses

BIZCHINA / Biz Media Digest

Light Industry: TCL losses
(China Daily)
Updated: 2006-08-31 17:58

Electronics firm TCL Corp said that its second-quarter loss had widened
mainly because of its unprofitable television unit.

The company, in which Royal Philips Electronics NV holds a 6.3 per cent
stake, forecast a loss for the first nine months of the year.

The net loss was 607.3 million yuan (US$76 million), compared with a loss
of 365.4 million yuan (US$43.2 million) a year earlier.

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Chinesepod - Trade: US trade chief plans China visit

BIZCHINA / Biz Media Digest

Trade: US trade chief plans China visit
(Shenzhen Daily)
Updated: 2006-08-25 16:04

U.S. trade chief Susan Schwab said she will make a three-day visit to
China starting Sunday to further strengthen bilateral economic relations
in efforts to help cut America��s record trade deficit.

Schwab said late Wednesday that during a meeting with China��s Commerce
Minister Bo Xilai she hopes to discuss China��s role in helping restart
stalled World Trade Organization talks.

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Chinesepod

Learn Chinese - Han Meilin, designer of the Fuwa

   Chinadaily Homepage

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

  2008Olympics > Designers

Han Meilin, designer of the Fuwa

By Cruz Fang (Chinadaily.com.cn)
Updated: 2006-08-22 22:20

The translated script of an interview on Olympic Mascots designer Han
Meilin. (Beijing Times, November 3, 2005)

Han Meilin and the Fuwa. [Xinhua]
Reporter: How did you come out with the image of the Fuwa

Han: The Fuwa were based on the prototypes given to me by Mr. Wu Guanying
from the Tsinghua University Fine Arts Institute. On February 2 on
China's lunar calendar (March 11, 2005), after spending a fruitless night
on them, I couldn't go on with my work. So I took a cold-water shower.
While I was bathing, the idea flashed across my head - why not let these
creatures wear headgears with animal characteristics.

Reporter: The athleticism is a core factor to Olympic mascots design. How
did you handle this?

Han: After deciding on the primary look of the Fuwa, we went through a
great amount sports materials, text and graphic, to draft the firendlies
practicing different sports. Panda practices weightlifting; Tibetan
antelope running; fish swimming ��etc. But when all the drafts were
combined first, they looked a bit clumsy than we thought. It was from the
images of Tibetan antelope that we finally drew inspirations to tackle
this problem.

The first draft Han Meilin drew for the Fuwa.

Reporter: How many changes did you make along the process?

Han: We all together have more than 4000 manuscripts inside the process
and more than 60 changes were made to the prototypes.

Reporter: Styles may differ within a designing team. Were there any
disputes?

Han: Sure. You may like a color others don't like; you may favor a image
others don't favor. We used to think about the proposal of rattle-drum,
but when a drum was added legs, it turned out somewhat unacceptable to
me. So we dropped it.

Reporter: You were severely sick during the period?
Han: Yes, two times of heart-attack, but I was back after receiving
emergent surgeries.

Reporter: How much did the Olympics organization committee pay for your
work?
Han: I don't want any payment, besides the copyright, but the committee
rewarded me one yuan.

Other candidates for 2008 Olympics mascots
Reporter: Do you have regrets over the Fuwa?
Han: Yes. The biggest regret that held me now is that the Fuwa failed to
embody the great art of Chinese calligraphy. We tried for thousands of
times, but the results came out unsatisfactory.

Reporter: Among the five, which is your favorite?
Han: All these five were from my hands. I am like their father. There's
no preference inside me. But picking up the color for Nini (swallow)
tortured my team really, so the color side of Nini is a bit
unsatisfactory to us.

1 2 

Learn Chinese

Tuesday, December 25, 2007

Learn Mandarin online - BMO Capital Markets opens Beijing office

BIZCHINA / Overseas Investment

BMO Capital Markets opens Beijing office
(Xinhua)
Updated: 2006-08-18 13:28

Canada's Bank of Montreal (BMO) Capital Markets announced Thursday the
addition of investment banking services to the range of financial
products and services offered by BMO Financial Group in China.

The addition of the BMO Capital Markets Representative Office in Beijing
increases BMO's capacity in the Chinese cities in which it operates,
which include Guangzhou, Hong Kong and Shanghai.

"We consider this the next vital step to achieving our objective of
becoming a most trusted adviser to Chinese business leaders," said Tony
Comper, President and Chief Executive Officer, BMO Financial Group, in a
press release.

The BMO Capital Markets Representative Office in Beijing will help offer
a broad range of investment and corporate banking services to Chinese and
North American institutional, corporate and government clients.

"We are exceptionally well-positioned to take advantage of China's
enormous growth," said Yvan Bourdeau, Chief Executive Officer, BMO
Capital Markets and Head, Investment Banking Group.

"We are recognized as a firm that can deliver globally and can help
Chinese institutions, as witnessed by the role we played in the Bank of
China IPO, China's largest IPO to date," said Bourdeau.

He said that BMO's long-standing presence in China certainly helped it
secure a role as one of six co-lead managers, the only Canadian bank
selected for that role, in the 11.2 billion US dollars financing deal.

BMO became one of the first western banks to establish correspondent
banking ties with the Bank of China in 1958. In 1996, BMO became the
first Canadian bank to open a branch in Beijing.

BMO is a pioneer in the Chinese foreign exchange market that has
consistently ranked among the top 10 banks in China (domestic and
foreign) for the past 10 years.

With more than 2,000 employees, BMO Capital Markets operates in 14 North
American offices and 26 locations worldwide.

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Chinese Online Class - China's silver consumption triples

BIZCHINA / Top Biz News

China's silver consumption triples
(Xinhua)
Updated: 2006-08-07 16:20

China consumed 2,600 tons of silver in 2005, nearly three times the
volume of twenty years ago, said sources with the Gemological Association
of China.

But the country exports even more than it consumes. With an all-time
record production of 7,196 tons of silver in 2005, China has become the
world's third biggest silver supplier.

Exports of silver rose to 4000 tons in 2006, up by a third from the 3050
tons notched up in 2004.

Consumption at home surged 190 percent to 2600 tons in 2005 from a modest
900 tons in 1985. Despite the constant fluctuations in the prices of gold
and silver on the international market, China's silver consumption has
continued to grow steadily in recent years, said the association.

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Chinese language - Investors still keen to ride theme park craze

BIZCHINA / Center

Investors still keen to ride theme park craze
By Zhou Weirong (China Daily)
Updated: 2006-07-25 08:59

It seems simple enough. As their wallets start to bulge more and more,
the 1.3 billion Chinese need a place to go for entertainment  a theme
park.

That goes some way to explaining the current investment craze in hundreds
of themed amusement parks across the country.

According to the International Association of Amusement Parks and
Attractions (IAAPA), a new wave of investments in China's theme parks is
on the way, as the following five years are expected to be rosy for
China's amusement parks and attractions industry.

There are now at least 2,000 theme parks in China, although the industry
only started about 20 years ago. Most such parks were co-invested by the
government and private sectors and were built up in economically
developed regions such as Beijing, Tianjin, the Yangtze River Delta and
the Pearl River Delta.

Domestic investors are planning a number of new parks in the country. For
example, the historic town of Zhouzhuang on the outskirts of Shanghai is
planning a US$40-million park with 5,000 years of Chinese culture as its
theme. Construction is scheduled to begin at the end of 2006 and is
expected to take at least one year.

Meanwhile, the central government has mapped out a plan to spend heavily
in the Shenzhen area to improve the existing parks so that they
complement nearby Hong Kong Disneyland. The government hopes to market
the region as a destination called the "Golden Coast," which would
feature hotels and activities to keep visitors entertained for several
days.

Foreign investors are also vying to inject billions of dollars into
building up new theme parks across the country.

A joint venture between Shenzhen Sanguo Culture City Industrial
Development Co Ltd and Canada-based Bedford International Financial Group
is planning a US$3-billion park called China Today on Shenzhen's eastern
shore, to be based on the legend of the third-century Three Kingdoms. The
park is expected to open in 2010.

US-based Walt Disney is negotiating with Shanghai's municipal government
to build a theme park in the city's Nanhui District, to open in 2010,
coinciding with the city's World Expo 2010. Shanghai's Jinjiang Park is
also talking with US company Triple Five about a project to expand and
reinvent the park, according to IAAPA officials.

Page: 1 2

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Learn Chinese online - Chinese prefer foreign airlines

BIZCHINA / Biz Life

Chinese prefer foreign airlines
(Chinanews.cn)
Updated: 2006-07-13 15:11

Most Chinese passengers prefer travel by foreign airlines, according to a
survey, as the human-centered services of foreign airlines can satisfy
people who are more and more picky.

The biggest online travel company in China �� C-trip conducted an online
survey about "airline consumption" recently, which showed that most
people in China tended to be more rational when buying tickets as they
only chose their favorite flight types and air companies.

Most of the respondents indicated that they would take airplane types
into consideration, for example, Boeing 747 with wide bodies being their
prior choice. Some said large planes seemed more secure than smaller
ones, while others believed they felt more comfortable in large ones.

As to airline companies, passengers will mainly pay attention to prices,
services, reputation, and delay history. On the same route, more than 60%
passengers prefer foreign airline companies, which perform outstandingly
in those aspects compared with domestic airline companies. They said they
were impressed by the more human-centered services of the foreign
airlines in spite of their expensive prices.

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Monday, December 24, 2007

Chinese language - China to launch 12 key projects in west this year

BIZCHINA / Investment Alerts

China to launch 12 key projects in west this year
(People's Daily Online)
Updated: 2006-07-04 14:30

China is expected to launch 12 major projects in Western China in 2006 at
a total cost of 165.4 billion yuan.

The country has started up 70 major projects in remaking the west from
2000 to 2005, with a total investment of nearly one trillion yuan. These
projects have played a crucial role in the improvement of basic
facilities, accelerating the growth of the advantageous industries of the
west and enhancing the harmony development of the region.

These 12 projects are:

*the Railway Project from Taiyuan to Zhongwei,

*the highway development in western China,

*Branch airline airfields construction in western China,

*Major coal mining projects in western China,

*Hydroelectric power plants construction in western China,

*Qingshanzui Reservoir Project in Yunnan province, southwest China,

*Paddies created from returned forestland for ensuring food supplies for
local farmers,

*A 800,000-ton ethylene project in Sichuan province, southwest China,

*A 1.2 million tons potash fertilizer project in Lop Nol, Xinjiang,

*A 400,000 tons alumina project in Inner Mongolia, north China,

*High-tech industrial projects in western China,

*Education, public health and other related project in western China.

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Chinese language

Learn mandarin - Data storage company EMC plans to invest US$500m in China

BIZCHINA / Overseas Investment

Data storage company EMC plans to invest US$500m in China
(AP)
Updated: 2006-06-23 14:51

EMC Corp., a U.S.-based data storage system company, said Friday it plans
to invest US$500 million in China by 2010, extending its push into Asia.

EMC's investments in China include plans for a research and development
center in Shanghai, the company's chief executive officer Joe Tucci said
in a presentation.

Earlier this week, EMC said it will invest an additional US$250 million
in India, doubling its total investment to US$500 million by 2010.

Figures for EMC's total investments in China so far were not immediately
available.

Hopkinton, Massachussetts-based EMC makes systems that store and manage
large volumes of data.

EMC's shares fell 1.72 percent to US$11.44 Thursday on the New York Stock
Exchange.

(For more biz stories, please visit Industry Updates)

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Chinese School - Largest furniture retailer IKEA to debut in SW China

BIZCHINA / Overseas Investment

Largest furniture retailer IKEA to debut in SW China
(Xinhua)
Updated: 2006-06-16 10:52

The world's largest furniture retailer IKEA is to open a new store in
Chengdu, the first in southwest China, before the end of this year, the
company has announced.

The store in Chengdu, capital of Sichuan Province, about 2,200 km
southwest of Beijing, will cover a floor space of 30,000 square meters
and provide customers with more than 6,000 items, said Gillian Drakeford,
vice president of IKEA China.

There will also be a Swedish restaurant at the Chengdu store, sources
said.

The company entered the China market in 1998 and has now three stores in
Shanghai, Beijing and Guangzhou.

With 235 shops in 34 countries and regions, IKEA recorded a total global
turnover of 14.8 billion euros in 2005.

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Sunday, December 23, 2007

Learn Chinese online - Financial industry key focus for FDI

BIZCHINA / Top Biz News

Financial industry key focus for FDI
By Jiang Wei (China Daily)
Updated: 2006-06-09 07:06

The financial industry is a major destination for foreign direct
investment (FDI) because of the opening-up of the sector, according to
Vice-Minister of Commerce Ma Xiuhong.

The financial sector including banking, insurance and securities has
become a new growth area for foreign investment flowing into the country,
Ma said.

Her remarks were based on revised statistics of actual foreign direct
investment in 2005.

When the ministry first released the figure in January, it estimated
actual foreign investment in China stood at US$60.33 billion last year,
0.5 per cent down from 2004. But investment in the financial sector was
not included.

The actual FDI was finally revised to US$72.4 billion, reflecting a hefty
growth of nearly 20 per cent on the previous year.

"We revise the (FDI) figure every year but in the past there were just
small revisions so they didn't attract too much attention," Ma explained.
She added that before 2004, foreign investment in the financial sector
was less than US$2 billion each year.

She said the increase in financial investment resulted from the
continuous opening-up of the sector and reforms within it.

Upon entry to the World Trade Organization (WTO) in 2001, China committed
itself to gradually opening its financial industries such as banking,
securities and leasing markets to foreign investors.

FDI in the manufacturing sector is expected to level off in the coming
years while that in the financial sector has just begun. Ma said the FDI
growth rate in the first five months is expected to keep the same pace as
the period from January to April.

According to ministry data, China attracted US$18.4 billion in actual
foreign investment in the first four months of the year, up 5.7 per cent
on the previous year. The government approved 12,639 new foreign-invested
companies during this period.

"We found that the financial and services sectors remain a hotspot for
investment flows," Ma said. "But foreign investment to industries
involved in high-tech production still account for a large proportion."

Ma noted that China's outbound investment has also grown rapidly this
year. Direct investment outward skyrocketed by 280 per cent year-on-year
to US$2.68 billion in the first quarter of this year.

"Investment is not only flowing to developing countries but also to
developed countries," Ma added.

In order to promote both inward and outward investment, the commerce
ministry is scheduled to hold the 10th China International Fair for
Investment and Trade on September 8.

Since being launched in 1997, the event has helped more than 10,000
investment co-operation projects to get off the ground, with a total
value of US$ 60 billion.

The fair this year is expected to include more than 100 organizations
from both home and abroad, and see 20,000 co-operation projects.

(China Daily 06/09/2006 page9)

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Chinesepod - Godfather of information industry

BIZCHINA / Biz Who

Godfather of information industry
(China Daily)
Updated: 2006-06-05 10:34

The Lenovo story began in 1984 when Liu Chuanzhi, a 40-year old engineer
at the Computer Sciences Institute of the Chinese Academy of Sciences,
founded a computer company in Beijing. With a few colleagues and limited
capital, he began selling imported computers. The company, called
"Lianxiang" in Chinese and "Legend" in English, had its first success in
the development of a Chinese character card that translated English
operating software into Chinese characters.

In The Lenovo Affair, Ling Zhijun, a senior editor at the People's Daily
newspaper, charts the dramatic rise of Lianxiang/Legend. First it emerged
as China's biggest computer brand, then a listed company on the Hong Kong
stock exchange. Finally, with the acquisition of IBM's Personal Computing
Division, Lenovo became a global brand.

Although Lenovo is the third largest personal computer company in the
world, it remains surprisingly unknown outside China. Few people
understand how it suddenly became a global giant. This detailed look at
one of China's most successful companies provides a rare insider's view
into the Chinese economic system.

Ling makes important connections between the historical and political
events occurring in China in recent decades. He describes how changes in
government policy affected the company's growth, and the moves that Liu
Chuanzhi had to make in order to get around problems such as a lack of
finance.

Liu, who has been described as "the godfather of China's information
industries", is painted as a determined leader. But his road to success
was difficult. During the "Cultural Revolution" (1966-76), he developed
an unbreakable spirit and the ability to deal with complex human
relationships. Ling describes him as a man who knew his own scientific
shortcomings, but who wanted to turn technology into profit.

Liu Chuanzhi's greatest challenge was operating within the restraints of
the Chinese system. Surprisingly, he came up against many of the same
difficulties that foreign companies in China encounter, including the
lack of a legal framework for patents, the chaotic system for obtaining
import and export licences, and outdated accounting systems.

The Lenovo Affair fills an important gap in our understanding of China's
role in the modern business world. In addition, it is a powerful wake-up
call for those who just think of China as a huge untapped market for
foreign companies. Lenovo's success shows that Chinese companies also
aspire to become global players, and that acquisitions are one way for
them to gain access to global markets.

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Chinesepod

Chinese language - Price hike

BIZCHINA / Photo

Price hike

Updated: 2006-05-25 17:21

The adjusted oil price in Jinan, East China's Shandong Province.
[newsphoto]

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Chinese language

Learn Mandarin online - Have you met the new MetLife today?

BIZCHINA / Top Biz News

Have you met the new MetLife today?

By Song Hongmei (chinadaily.com.cn)
Updated: 2006-05-24 17:20

MetLife Inc, America's biggest life insurer, held a celebration for the
launch of its newly named joint-venture (JV) life insurance company in
Shanghai on May 19.

The ceremony is part of an on-going effort by MetLife to brand itself for
the Chinese market. Although legally allowed to use CitiInsurance's
trademark of a red umbrella until June 30, United Metlife has already
made the switch to their own Snoopy mascot in an effort to make the
transition of the JV from CitiInsurance Life Insurance to MetLife more
palatable to the public.

MetLife Inc chairman Robert Henrikson poses with the US insurance giant's
mascot Snoopy during a celebration for the launch of its newly named
joint-venture life insurance company in Shanghai on May 19, 2006.
[chinadaily.com.cn]

MetLife holds 50 percent of the JV, United MetLife Insurance Co, and its
Chinese partner, Shanghai Alliance Investment Ltd, an investment arm of
the municipal government, own the rest.

The JV, formerly CitiInsurance Life Insurance Co Ltd, dates back to
August 2005 and was formed with US$62.3 million in registered capital.

In January 2005, MetLife Inc acquired Travelers Life & Annuity from
Citigroup, which included CitiInsurance international assets, for US$11.5
billion.

What's in a name?

Since brand names are especially important in the insurance industry, the
name Citigroup actually means much more to Shanghainese than MetLife,
though the latter is the largest life insurance provider in the United
States, an insurance analyst said.

Citigroup boasts more than a hundred years of history in Shanghai,
setting up its Shanghai branch one year after its establishment in New
York in 1901. MetLife opened its representative office in Shanghai just
ten years ago.

MetLife delayed renaming the JV until 10 months after the initial
acquisition partly because of this, according to the analyst.

1 2 3 

(For more biz stories, please visit Industry Updates)

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===========================================================================
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===========================================================================
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===========================================================================
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===========================================================================

Learn Mandarin online

Saturday, December 22, 2007

Chinese Online Class - Geely to make high-end cars in Hong Kong

BIZCHINA / Li Shufu

Geely to make high-end cars in Hong Kong
By Gong Zhengzheng (China Daily)
Updated: 2005-07-27 06:26

Geely Automobile, the No 1 privately-owned car maker in the Chinese
mainland, yesterday said it plans to jointly invest 1.44 billion Hong
Kong dollars (US$185.2 million) with the Hong Kong Productivity Council
to develop a high-end car and components.

The 3.0-litre car, named GH1, will be produced in Hong Kong within the
next 24 months, said Li Shufu, chairman of Hong Kong-listed Geely.

The plans come one month after Geely and Hong Kong Productivity Council -
a government-sponsored organization aiming to promote productivity
throughout Hong Kong business sectors - signed a memorandum of
understanding for collaboration in the development of the first Hong
Kong-made car and components.

Component producers from Hong Kong, who mainly invest in the mainland,
will also participate in the development of the car, the two sides said
in a statement. The car will target both the mainland and overseas
markets.

"We could benefit from the CEPA (Closer Economic Partnership Arrangement)
advantages, even though labour and land costs are higher in Hong Kong
than on the mainland," said Yeung Kwok Keung, executive director of Hong
Kong Productivity Council.

The CEPA was implemented last year to facilitate Hong Kong's exports to,
and investment in the mainland.

Hong Kong-made cars will be exempted tariffs in the mainland if more than
30 per cent of their total costs, including that of development, come
from Hong Kong, Yeung said.

"The car market in the mainland is booming, and we will have big
opportunities," he said.

China is the world's third largest and fastest-growing vehicle market.

Sales of Chinese made vehicles reached 2.79 million units in the first
half of this year, up 9.25 per cent from a year ago.

The nation's total auto demand is predicted to rise 12 per cent to over
5.6 million units this year.

Citing Nanjing Automobile Group's takeover of British collapsed car maker
MG Rover last week, Li said: "The world's vehicle manufacturing is
shifting towards China which enjoys relatively lower labour and land
costs than the developed countries."

All of the world's major automakers have set up joint ventures in China
with local partners.

Geely, one of a few independent Chinese car manufacturers, aims to sell
140,000 cars this year, up from 100,000 units last year, according to Li.
In the first half of this year, the company's sales grew by 6.3 per cent
to 60,000 units from the same period of last year.

Geely, previously a motorcycle and real estate conglomerate, started to
make cars in 1998.

It is producing low-cost cars in East China's Zhejiang Province and
Shanghai.

The company also expects to double its exports to 10,000 cars this year
from last year.

In May, Geely clinched a deal with a Malaysian partner to assemble its
cars in this Southeast Asian country.

Geely closed at 0.485 Hong Kong dollars (6.24 US cents) per share
yesterday, up 1.04 per cent.

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Chinese School - China bans import, export of endangered species

BIZCHINA / Top Biz News

China bans import, export of endangered species
(Xinhua)
Updated: 2006-05-19 10:07

China has banned the import and export of endangered species of wild
fauna and flora.

The regulation, effective from September 1, is a move by the Chinese
government to regulate the trade, protect wild fauna and flora, and
comply with the Convention on International Trade on Endangered Species
of Wild Fauna and Flora.

According to the regulation, the import and export of endangered wild
animals and plants and their related products for commercial purposes is
banned. For special purposes such as scientific research, artificial
naturalization and propagation and cultural exchange, the import and
export of endangered wildlife must be approved by departments under the
state council in charge of the management of wild fauna and flora.

The regulation also forbids exports of unnamed and newly discovered wild
animals and plants of great value and their related products.

The Convention on International Trade in Endangered Species of Wild Fauna
and Flora is an international agreement. Its aim is precisely to ensure
that international trade does not menace the survival of wild animals and
plants.

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Learn Chinese online - Steelmakers to reject 19% iron ore hike

BIZCHINA / Top Biz News

Steelmakers to reject 19% iron ore hike
By Jiang Wei (China Daily)
Updated: 2006-05-18 06:53

Chinese steelmakers are not likely to accept the 19 per cent increase in
iron ore prices agreed to by Germany's ThyssenKrupp AG, according to the
China Iron and Steel Association.

The price accepted by the German company would not be taken as the global
benchmark as European mills are represented by Arcelor SA in negotiations
for long-term prices, while Chinese steelmakers are represented by
Shanghai-based Baosteel Group, said Qi Xiangdong, deputy
secretary-general of the association.

But he admitted that the agreement would have some impact on Baosteel's
negotiations.

The elements of the Asian market, in particular the specific conditions
of the Chinese market, must be taken into consideration in setting iron
ore pricing, the association said yesterday on its website.

"Otherwise, Chinese steel companies will not accept the prices," it
insisted.

The 19 per cent was above what Chinese buyers could afford, said an
unnamed insider.

"Even if an increase is inevitable, China will strive to make a good
deal," he said.

ThyssenKrupp reached an agreement on Monday with Brazil's Cia Vale do Rio
Doce, the largest iron ore miner in the world, accepting a 19 per cent
rise on iron ore prices in 2006. It is the first agreement this year
between a major steelmaker and a producer.

Baosteel, Arcelor SA and Nippon Steel Corp, which represents Japanese
iron ore importers, are still in talks with the world's top iron ore
miners Vale and Anglo-Australian groups Rio Tinto Ltd and BHP Billiton
Ltd. The talks have been prolonged by over a month compared to past
agreements.

Local media said Nippon Steel Corp could only accept limited material
price rises this year. The company led a 75-per cent increase in the
long-term contract last year.

Vale pressed buyers to accept a 24.6 per cent increase. China Iron and
Steel Association refused to accept the figure, saying it was "not
rational."

According to Sydney-based Global Mining Research statistics, every 1 per
cent increase in iron ore prices will add US$29.6 million to Rio's profit
and US$21.4 million to BHP Billiton's profit.

China's demand for iron ore increased by 75.9 million tons and 121.8
million tons in 2004 and 2005 respectively.

In a bid to meet domestic demand, China is diversifying sources of iron
ore.

China's output of iron ore is expected to increase by 77 million tons
this year.

Associations of Chinese importers are looking at long-term co-operation
with Indian miners, who used to focus on the short-term cash market.

The country also plans to shut down small mills with an annual production
capacity lower than 200 cubic metres. The move is expected to reduce
China's demand for iron ore by 60 million tons.

(China Daily 05/18/2006 page9)

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