This tag is associated with 46 posts

Doing a business event in the Gobi Desert

It is something in China, about which very little is known in Europe – the business meeting, which builds relationships impossible to break. Often, though, it is also impossible to form, and must be made in a different way, which I will try to explain here. I had the pleasure to get to know Kuba Zwoliński, … Continue reading

For Hollywood, the road to China is littered with broken deals – the perils of doing business with China

Hollywood talent agent Jeff Berg flew to Shanghai last summer to celebrate one of his biggest deals — a partnership with Chinese investors in Resolution, his new agency in Century City. Two hundred business executives, government officials, actors and journalists gathered at the swank Hotel Shangri-La to mark the occasion. Celebrities posed for photographs. Guests … Continue reading

Multinationals invest less in China because of market access barriers

Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world’s second-largest economy, a U.S. business lobby said on Tuesday. China’s economy expanded 7.4 percent year-on-year in the January-March quarter, its slowest pace in 18 months. Concerns over market access and slower growth are greater this … Continue reading

Final China HSBC PMI dips to six-month low in January as new orders weaken

Business conditions for China’s manufacturers worsened in January as output and new order growth weakened, a private survey showed on Thursday, pointing to a weak start for the economy in 2014. The Markit/HSBC final manufacturing PMI for January dipped to 49.5 from December’s 50.5, the first deterioration in six months. The figure was in line … Continue reading

Pioneering digital marketing in China

The Chinese market is a key target for global luxury brands and export oriented companies focusing on high-end quality products and services. Setting up a marketing strategy could be the hard part of the job, even for brands and companies that are well established in western countries. Chinese customers are increasingly using digital channels and … Continue reading

Longer wait for China residency permits irk foreign firms

Foreign executives in China are upset at a new rule that allows authorities to hold passports for up to 15 working days when processing and renewing residency permits, saying it could disrupt essential business travel within China and abroad. The changes are evidence to those who argue China is becoming a harder place to do business, especially … Continue reading

Analysis: Why China is better than you think

The “imminent” demise of China will have to be postponed…again. The risk to third quarter growth forecasts in the market are now to the upside. On  Thursday, HSBC’s China Flash PMI data showed a sharp rebound to 50.1 in August from 47.7 in July. Consensus estimates had it rising slightly to 48.2. Today’s manufacturing data is consistent with headline … Continue reading

Perils of doing business in China – an Australian perspective

The perils of doing business in China have come into focus again recently, with allegations that staff from the British pharmaceutical giant GlaxoSmithKline paid $500 million in bribes over several years. Four executives from GlaxoSmithKline were arrested in July, while its British-born head of China operations has been prevented from leaving the country. There are … Continue reading

China launches trial carbon trading scheme

It is well-known that when rolling out a new and significant policy, Chinese officials are extraordinary cautious. Those who expect radical shifts over night are always left disappointed. So it should come as no surprise that the latest development in Chinese climate policy is small-scale. Nonetheless we shouldn’t underestimate the significance and potential of the … Continue reading

Growing opportunities in China for Italian design

Italy decided to boost its export of design and furniture products towards the Chinese market, with an official trade promotion programme “La Cina Arreda Italiano” organised by the Italian Trade Commission and the main industrial associations (Federlegno/Arredo – COSMIT, Confartigianato, CNA). The programme focuses on interior design products, one of the traditional Made in Italy … Continue reading

China: Liaoning aircraft carrier will have a squadron of aircraft this year

According to CCTV, in an interview with media, NPC (National People’s Congress–China’s parliament) deputy Zhang Yongyi disclosed that this year, the Liaoning “may conduct distant-water tests as such tests are indispensable for an aircraft carrier. Without exception, all aircraft carriers must undergo distant-water tests before its structure can be finalised and its combat capability can … Continue reading

China’s tight IPO market

The success of most of the leading companies in China today was made possible because of the support they received from private investors at an early stage of their development. However, many private investors in China today may be wondering about the end stage of their investment. A small number of IPOs They need to know … Continue reading

KFC parent Yum’s China earns less due to chicken scandal

KFC parent Yum Brands Inc on Monday warned that it expects 2013 earnings to shrink rather than grow, as it grapples with a food safety scare in China where it makes more than half of its overall revenue. Yum shares fell 6 percent in after-hours trading, as the news was even worse than expected by … Continue reading

China’s toy industry is in serious trouble

It’s a very difficult winter for the toy industry in Guangdong province. You could say it is an extremely harsh winter, if such occurred in the southern province of China. But more than 50% of all Chinese toy factories are there. And here, ends the jokes. Toy manufacturers in China are fighting with all their … Continue reading

China’s recent trade statistics have been artificially inflated

Until now, Beijing’s monthly import and export numbers have been considered absolutely reliable, yet there is growing evidence to suggest that in recent months they have been distorted by fabricated transactions. Especially suspect are the export figures for this September and October.  China’s exports for September soared 9.9% year-on-year.  In the following month, they jumped … Continue reading

‘Ambitious’ China firms on hunt for overseas mergers and acquisitions

SCMP reports: China “retains its appetite for takeovers to tap new markets and to access technology, especially in Europe, says a sector-leading banker “Outbound mergers and acquisitions (M&A) will remain active next year as ‘ambitious’ mainland firms continue to seek growth by tapping foreign markets and acquiring new technologies, according to a senior executive with … Continue reading

Surveys point to slowdown in Chinese economy

China’s vast manufacturing sector has been badly hit by slowing new orders, two complementary surveys showed, a sign that the pace of growth in the world’s second-largest economy will weaken well into the third quarter. The final reading of the HSBC China manufacturing purchasing managers’ index (PMI) for August fell to a seasonally adjusted 47.6, … Continue reading

China opens door to foreign hedge funds

China has given foreign hedge funds permission to tap its wealthy citizens inside the country for funds to invest overseas, according to people in the industry. The move represents another important step by China to open its capital account – a process that involves dismantling regulations separating China from international markets. The pace of these … Continue reading

Slower China economy a worry for Western firms

As China’s economy cools, some big U.S. and European companies are losing what had been one of their surest growth bets. Caterpillar Inc, 3M Co, United Technologies Corp and ABB Ltd  are among the manufacturers that have reported weak performances in China in the first quarter, as economic growth slowed to a near three-year-low. That … Continue reading

China buys Boeing 777s, delays Airbus deal

China Eastern Airlines is set to place a $6 billion order for up to 20 Boeing 777 jets, while simultaneously emerging at the centre of an aviation row between China and the European Union by stalling a recent Airbus deal, people familiar with the matter said. The order for wide-body 777s follows a fierce but discreet … Continue reading

Financial Times says BlackRock, China’s CIC to launch investment fund

BlackRock Inc, the world’s biggest asset manager, and China Investment Corp (CIC), the nation’s sovereign wealth fund, will jointly launch an investment fund likely to be worth several billion U.S. dollars, the Financial Times said. The fund is still in the planning stages, the FT reported, without saying where it would be investing. One purpose … Continue reading

Chinese investors scramble for a bite of Apple

China’s rigid capital rules ban its citizens from investing directly in Apple Inc but that’s not keeping them from seeking a piece of the iPhone maker’s success by buying shares in its suppliers – and even companies rumoured to be suppliers. Investors have flocked to the only two China-listed firms that Apple has confirmed as … Continue reading

Big manufacturers more likely to embrace “Made in USA”

Large U.S. manufacturers are much more likely than their smaller peers to move production to the United States from China, according to a survey. Continue reading

Bankruptcies ripple through Chinese developers

More Chinese property developers have filed for bankruptcy, the South China Morning Post reported on Friday Continue reading

Wilmar founder triples stake in Singapore’s Perennial

Wilmar International’s billionaire founder Kuok Khoon Hong has tripled his stake in a China property trust and set up a S$500 million ($400 million) investment firm with a former CapitaLand executive, raising his exposure to the real estate sector. Kuok, Singapore’s second richest man according to Forbes, increased his deemed interest in Perennial China Retail … Continue reading

BlackRock targets consumers in slowing China

China’s 1.3 billion consumers may be the only thing preventing the world’s second-largest economy from a hard landing that could reverberate across global markets, according to a report issued by asset manager BlackRock Inc on Tuesday. The Chinese economy is transitioning from production and exports to building a strong middle class that could support future … Continue reading

Nestle near buying Pfizer’s baby formula

Nestle, the world’s biggest food group, is closing in on a deal to buy Pfizer’s infant nutrition business for up to $10 billion to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said on Wednesday. “Nestle is in the lead position … Continue reading

Lingering customers just one hurdle as Starbucks eyes China growth

Starbucks Corp is on the rise in China with ambitious expansion plans but like any big new emerging market there are teething problems, not least of which is that customers love it so much, they stay for hours and hours and sometimes don’t even buy a drink. Chief Executive Howard Schultz expects mainland China to … Continue reading

Ex-Wall Street bankers bring science to China’s rocky stock market

Ex-Wall Street bankers are betting science can exploit opportunities in China’s often rumour-driven stock market, with some predicting the quant-driven fund industry to grow by as much as 10-fold to 100 billion yuan within a few short years. Former Goldman Sachs banker Shen Yi is confident his newly-launched 20 million yuan ($3.17 million) quant fund, … Continue reading

U.S. political rhetoric to stay as China widens yuan band

China’s widening of the yuan’s trading band will do little to blunt criticism of its currency policy by the United States and the Treasury Department said on Sunday more progress was needed to correct a “misalignment” of the exchange rate. Not much shift in the political rhetoric from Washington was expected in the wake of … Continue reading

China stocks czar faces battle to win back investor trust

In little over six months as China’s top securities watchdog, Guo Shuqing has let loose a flurry of reforms targeting insider trading, market manipulation and dodgy disclosure that have hamstrung China’s stock markets even as its economy surges. But China’s more than 72 million retail investors, who account for about three-fourths of trading on the … Continue reading

SEC sues AutoChina for stock manipulation

The US Securities and Exchange Commission (SEC) filed a civil lawsuit against AutoChina International on Wednesday, the third lawsuit in less than two months brought against a Chinese company by US regulators, The Wall Street Journal reported. The SEC alleges that AutoChina employees falsely boosted trading activity, using around US$60 million deposited into brokerage accounts … Continue reading

China currency move nails hard landing risk coffin

China’s weekend reform of its currency regime nails shut the coffin on the last remains of doubt about whether the world’s second biggest economy has successfully steered a course past a hard economic landing. Investors were questioning whether the worst sequential slowdown in China’s economy since the 2008-09 global financial crisis could enter a sixth … Continue reading

Timeline: China’s reforms of yuan exchange rate

China took another step on Saturday towards turning the yuan into a global currency by doubling the size of its trading band against the dollar to 1 percent. By peeling back trading restrictions on the yuan, Beijing is working toward its goal of having a currency that trades relatively freely, or is basically convertible, by … Continue reading

Weak China GDP growth no signal for fresh stimulus

Speculation that China’s weakest quarter of annual economic growth since the global financial crisis will trigger a flood of policy support to fight the downturn misses a crucial point – the taps are already turned on. The annual rate of GDP growth in the first quarter slowed to 8.1 percent from 8.9 percent in the … Continue reading

China draft regulations target futures market fraud

China’s securities regulator issued draft regulations on Friday that aim to crack down on deceptive practices in the country’s securities futures markets through increased supervision and “name and shame”-style disclosure of chronic offenders, official media reported on Friday. The draft rules, released for public comment late on Friday afternoon, would increase regulatory supervision of investors, … Continue reading

China power giant inks $2.4 billion India project

Power Construction Corporation of China said on Friday it had signed a $2.4 billion contract to build the second phase of a massive coal-fired power complex in southern India that will help meet soaring local demand for electricity. The second phase of the project for India’s Infrastructure Leasing & Financial Services Limited (IL&FS) will include … Continue reading

Walmart International focusing on own business over deals

Wal-Mart Stores is emphasising improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday. “Our focus this year in particular has been on improving returns with our existing businesses,” said Doug McMillon, chief executive officer of Walmart International. The company is working … Continue reading

Slowing China economy may not yet have hit bottom

China is set to reveal its weakest quarter of annual growth in nearly three years on Friday, with investors fretting the economy could cool even further in coming months and further dampen global growth. Economists polled by Reuters expect China delivered a fifth successive quarter of slowing annual growth in the first three months of … Continue reading

China growth slower in 2012 and recovery mild says World Bank

The World Bank cut its forecast for China’s 2012 economic growth to 8.2 percent on Thursday and said a rebound might not begin before the third quarter of the year as slack foreign demand and a government-induced real estate slowdown restrain a recovery. “There is the potential for growth to be bumping along the bottom … Continue reading

Puda coal scam

The aggressive government mandated consolidation of the coal mining industry beginning in 2009 coincided with the darkest days of the world financial crisis. PUDA management either had to become a consolidator, requiring massive additional capital, or else dispose of its coal businesses. Management, lead by Chairman Ming Zhao, made the decision to pursue aggressive growth by becoming a consolidator. … Continue reading

Sino-forest wiping out all traces

Last year Muddy Waters (a firm which specialises in exposing Chinese stock fraud) announced coverage on Sino-Forest, a Chinese timber company with a strong sell and $1 price target-citing fraud. The newsworthy thing about this was that large trading institutions were fooled, not just retail investors. Paulson & Co., a New York based hedge fund … Continue reading

Longtop fraud willingly backed by Chinese banks

Longtop Financial, a popular Chinese software company, was exposed as a colossal fraud last year .The “cash balance” on Longtop’s balance sheet, it turned out, was fake;  a fiction created by the company’s managers and helpers. The Longtop fraud followed other China stock frauds that have made many of Wall Street’s best and brightest look … Continue reading

Alibaba Scam By Employees

In July last year, Chinese police arrested more than 36 people charged with duping overseas buyers of more than $6 million, by posing as buyers on the e-commerce website Alibaba. The crux of this scam was the “Gold Supplier” programme, which sought to make foreign buyers more comfortable doing business with Chinese suppliers. Suppliers in … Continue reading

Pushing the envelope – Inside China’s vast shadow banking sector

Wu Ying’s rise to riches was like a Horatio Alger story on steroids. A native of Zhejiang province, Wu dropped out of college to work in a beauty salon, then later opened her own salon down the street. By 2006, at the age of 25, Wu had built a conglomerate of hotels and other businesses … Continue reading

Cyber attacks – China embraces piracy 2.0

Night Dragon. Operation Aurora. Operation Shady RAT. In the past several years, internet security company McAfee and various media groups have pinned a series of high-profile hacker attacks with names worthy of spy novels on China-based groups. Yet the attacks differed from the classic spy account in one notable respect: They were directed mainly at … Continue reading

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