Air China Limited is abbreviated as “Air China” and its predecessor, the old Air China, was founded in 1988. According to "Civil Aviation System Reform Program" approved and passed by the State Department, on October 10, 2002, the old Air China combined China National Aviation Company and China Southwest Airlines and founded China Aviation Group Company. Based on the joint air transport resources of the three parties, the new Air China Company was founded.
The enterprise logo of Air China is an artistic Phoenix pattern, it also is the artistic transfiguration of the word “VIP”. The color is the traditional Chinese red which implies auspiciousness, completion, peace and happiness, and expresses Air China’s sincere passion to serve the society and endless pursue of the safety enterprise. The Chinese version of “Air China Limited” written by Mr. Deng Xiaoping and its English translation “AIR CHINA”.
Air China is the only airline company which carries the national flag. It became a member of Star Alliance in December 2007 and it is also the airline partner of the 2008 Beijing Olympic Games. It has the first rank of brand value among domestic airline companies (the world brand laboratory evaluated it RMB 23.523 billion in 2007) and it leads domestic counterparts in passenger and freight air transport and related services.
Originally Posted: China Business Daily
Author: Angulo Fu
Saturday, October 11, 2008
Air China was Founded
Friday, October 10, 2008
Sino-German Joint Venture of Volkswagen Set Up
October 10, 1984, China's Shanghai Volkswagen Automotive Co., Ltd. held a grand ceremony. Shanghai Volkswagen is a joint venture which is operated by Federal Republic of Germany and China.
Shanghai Volkswagen produced car and engine by Volkswagen Germany's latest manufacturing technology and modern management methods. The joint venture company could choose to produce any product of Volkswagen.
At that time,to determine in 1987, the joint venture company to achieve production capacity of 30,000 cars, 100,000 engines, in 1990 to reach an annual output of 100,000 cars.
Now, Shanghai Volkswagen annual production capacity is 600,000, become one of the largest production base in China. The company has 6 series of Santana, Santana Vista Zhijun, Passat, Polo, Touran, LAVIDA Langyi and Octavia Mingrui.
As the first car joint venture during China's reform and opening-up, Shanghai Volkswagen has witnessed 30 years of China's reform and opening up. Shanghai Volkswagen is also an example of successful Sino-German cooperation.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, October 9, 2008
Zhongguancun, China's Silicon Valley
Zhongguancun (Chinese: 中关村), or Zhong Guan Cun, is a technology hub in Haidian District, Beijing. It is known as "the Silicon Valley of China". Today is the twentieth anniversary of the beginning of Chinese high-tech industry started in Zhongguancun.
Zhongguancun has long existed since 1950's and only became a household name in the early 1980's. The first person who envisioned the future for Zhongguancun was Chen Chunxian, a member of the Chinese Academy of Sciences (CAS), who came up with the idea for a Silicon Valley in China after he visited the U.S. as part of a government-sponsored trip. The location of the Chinese Academy of Sciences within Zhongguancun reinforced, and perhaps was in part responsible for the technological growth in this area.
Throughout the 1980s and still today, Zhongguancun was known as "electronics avenue," because of its connections to information technology and the preponderance of stores along a central, crowded street.
Zhongguancun was officially recognized by the central government of China in 1988. It was given the wordy name "Beijing High-Technology Industry Development Experimental Zone."
The current designation Zhongguancun refers commonly to the original site. However, officially (as of 1999) Zhongguancun has become the "Zhongguancun Science & Technology Zone." It is a zone with seven parks, including Haidian Park, Fengtai Park, Changping Park, Electronics City (in Chaoyang), Yizhuang Park, Desheng Park, and Jianxiang Park.
The original Zhongguancun is now known as the Haidian Park of the Zhongguancun Zone. The area and environs, however, remain the same.
The most famous companies that grew up in Zhongguancun are Stone Group, Founder Group, and Lenovo Group. They were all founded in 1984-85. Stone was the first successful technology company to be operated by individuals outside the government in China. Founder is a technology company that spun-off Peking University. Lenovo Group spun-off from Chinese Academy of Sciences with Liu Chuanzhi, a hero of Zhongguancun and current Chairmain, eventually taking the helm. Lenovo purchased IBM's PC division with $1.75 billion in 2005, making it the world's third-largest PC maker. Both Founder and Lenovo Group maintain strong connections to their academic backers, who are significant shareholders.
Baidu and SINA Corporation are two companies known by China watchers in the West that were born and bred in Zhongguancun. They are both located in Lixiang Building.
According to the 2004 Beijing Statistical Yearbook, there are over 12,000 high-tech enterprises throughout Zhongguancun's seven parks, with 489,000 technicians employed.
Eastdawn Corporation is in the Sinosteel building.
Many world renowned technology companies built their Chinese headquarters and research centers in Zhongguancun Technology Park, such as Google, Intel, AMD, Oracle, Motorola, Sony, Ericsson...Microsoft is building its Chinese research headquarters in the park that costs $280 million. Once it is completed, it can accommodate 5000 employees.
Originally Posted: China Business Daily
Author: Angulo Fu
Wednesday, October 8, 2008
AMD will Spin-off
On Tuesday AMD announced that it would spin-off. After the spin-off of the two companies will focus on microprocessor design and manufacturing.
It is understood that AMD got 84 billion U.S. dollars investment from the United Arab Emirates Abu Dhabi government. The production plant will be included in the new joint venture company. Advanced Technology Investment which is setted up by the Abu Dhabi government, will pay AMD 7 billion U.S. dollars for 56% stake of new company, while the rest belong to AMD.
The company's name is Foundry, will continue to produce AMD processor chips, and to seek contracts from other companies. The AMD will focus on the design and marketing of chips. This system will allow AMD to fully develop new products without having to spend billions of dollars on production.
According to the reports, Foundry will have two factories in Germany and build a new factory in New York. The company will inherit the AMD's debt, the value is 12 billion U.S. dollars. In the future, Foundry will also receive up to 60 billion dollars from the Government of Abu Dhabi to expand production, as well as working capital which is up to 14 billions U.S. dollars. In addition, the Government of Abu Dhabi will pay 314 million U.S. dollars raise the proportion of shares to 19%. Last year, the Abu Dhabi government invested AMD and gained 8.1% share.
AMD currently has 16,000 employees. About 3,000 people will be included in Foundry.
Dirk Meyer, the CEO of AMD said this will allow AMD to be more robust in the financial aspects and better targeting.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, October 7, 2008
The Scale of China Internet Market will Reach 200 Billion Dollars
Analysys International recently released data shows, during 2007-2011 the value-added of China Internet market growth will slow down gradually, but will remain at more than 30% annual growth rate. It is predicted that by 2011 the scale of Internet market will reach 200 billion US Dollars and the number of the Internet users will up to 6 billion.
Analysys International forecasts China Internet market's comprehensively and integrated development trends will continue to strengthen; the scope of services cover instant messaging, search engines, e-commerce and so on. The number of Internet value-added services supplier will further increase. With the development of 3G market, mobile Internet has the capability of carring existing broadband Internet business, making integration trend of broadband Internet and WAP will be further strengthened.
In 2008, China Internet market M & A fever will continue to heat up.The target of mergers and acquisitions will include vertical web site, advertising market platform , Web2.0, video sharing.
Originally Posted: China Business Daily
Author: Angulo Fu
Monday, October 6, 2008
GM Plans to Sell Hummer
Walter Borst, GM's CFO said at the end of September, GM plans to sell the Hummer brand and transmission plant in Strasbourg, France. Walter Borst said the value of assets which GM is considering sell is between 2.0 billion and 40 billion dollars.
Prior to that, there were reports that GE tend to be sell the assets to China, India or Russia's business, but there is not any enterprise respond to it.
When attending the Leveraged Finance Conference in Germany, Walter Borst said The sale of assets will not affect GM's strategic planning. In his speech, the slide Walter Borst used was placed on the GM investment web site. GM is expected to distribute promotional materials about selling Hummer brand and France's transmission plant in October. At present, the employees of transmission plant are about 1,300.
As a result has been losing money, while the U.S. auto sales are still in down stage, General Motors and the other United States auto manufacturers have encountered a shortage of liquidity funds. In August, GE announced a plan that raising funds by three ways. They are a reduction of 100 billion U.S. dollars of expenditures; 50 billion U.S. dollars obtained through the sale of assets; and the loan continued until the end of next year. In the fourth quarter of this year, there may be more assets be sold.
Originally Posted: China Business Daily
Author: Angulo Fu
Merrill Lynch Lowered Rating of Lenovo to Neutral
Investment bank Merrill Lynch said Monday, has lowered the Lenovo Group (0992.HK) rating from "buy" down to "neutral", a new target price is 3.54 Hong Kong dollars, as a result of slowing demand.
The report said that because of the bargaining pressure and demand pressure, they reduce the 2009/10 forecast of Lenovo Group by 17% and 28%.
Lenovo Group last Friday closed at 3.43 Hong Kong dollars. In the past month, the stock has fallen about 27%.
Originally Posted: China Business Daily
Author: Angulo Fu
The Latest Batch of Milk Testing Found no Melamine
General Administration of Quality Supervision,Inspection and Quarantine of the PRC recently announced a new batch of samples of milk on mainland market contain no melamine.
This is the second time that government take measures to revive the Chinese consumer confidence in dairy products. Last Thursday, China had announced did not detect melamine in milk and dairy proudcts.
On Sunday, Xinhua News Agency reported that the Chinese quality inspection department sends 5,000 quality inspectors to dairy factories to re-build consumer confidence.
General Administration of Quality Supervision, Inspection and Quarantine of the PRC announced the detection of 609 batches of samples collected from 27 cities, the results found no melamine.
Wang Yong, the director of the General Administration of Quality Supervision said that food safety is related not only to public health, but will also affect the survival of the business, so the government will do its utmost to ensure that all dairy products are safe.
Originally Posted: China Business Daily
Author: Angulo Fu
Afton Chemical Purchases GE's Fuel Additives Business
On Tuesday, Afton Chemical Corp. which is a subsidiary company of NewMarket Corp. announced the acquisition of GE's North American Fuel Additives Business which was belong to GE Water & Process Technologies.
Afton is a supplyer of gasoline and diesel performance additives. The company did not disclose the financial terms of the transaction. But the company said the acquisition will expand its supply of diesel fuel.
As a part of the transaction, GE's current salers for product line will become employees of Afton.
Originally Posted: China Business Daily
Author: Angulo Fu
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