General Administration of Quality Supervision, Inspection and Quarantine of the PRC (AQSIQ) revealed that the toluene and ethyl acetate are detected in Japan soy sauce and mustard.
According to the Guangdong Entry-Exit Inspection and Quarantine Bureau, toluene and ethyl acetate are detected form in Japanese soy sauce and mustard sauce imported from Japan. There are three Japanese manufacturers involved in this scadal. the highest value of toluene is 0.0053mg/kg, the ethyl acetate is 0.537mg/kg.
AQSIQ said China's importers of these products have started takeing similar products off the shelf and bulk testing to ensure the safety of Chinese consumers.
Toluene, also known as methylbenzene or phenylmethane, is a clear, water-insoluble liquid with the typical smell of paint thinners, redolent of the sweet smell of the related compound benzene. It is an aromatic hydrocarbon that is widely used as an industrial feedstock and as a solvent. Like other solvents, toluene is also used as an inhalant drug for its intoxicating properties. Toluene will irritate skin and mucous membrane. There is narcotic effect on the central nervous system.
Ethyl acetate is colorless liquid has a characteristic, pungent smell (similar to pear drops) like certain glues or nail polish removers, in which it is used. Ethyl acetate is the ester from ethanol and acetic acid; it is manufactured on a large scale for use as a solvent. Also used as the raw materials of dye, medicine, flavor, and as flavor agent is used in food and animal feed.
Originally Posted: China Business Daily
Author: Angulo Fu
Friday, October 31, 2008
Japan Food Contain Toluene and Ethyl Acetate
Motorola Loses $397M in Q3, China General Manager to Resign
Motorola vice president and China mobile terminal business general manager Ren Weiguang said on Thursday that he intends to resign this week. Motorola China president Gao Ruibing will serve as general manager in the interim.
Ren joined Motorola in April, 2004, is responsible for all China GSM-related businesses, but the badly performeance of mobile phone business become the the main reason for Ren's leaving.
Background:
Motorola plunged to a US$397 million loss in the third quarter, unable to control costs to match its declining revenue. The company announced plans to cut costs by $800 million in 2009, but has postponed plans to sell its loss-making mobile devices division until 2010. Instead, it will revamp its product line to focus on phones running software from Google and Microsoft.
The company reported revenue of $7.48 billion for the three months ended Sept. 27, down from $8.81 billion for the year-earlier quarter, and made a net loss of $397 million, a sharp drop from its net profit of $60 million a year earlier. The company losses amounted to a loss of $0.18 per share. Analysts polled by Thomson Reuters had expected earnings of $0.02 per share.
Revenue from mobile devices totalled $3.1 billion for the third quarter, down 31 percent from a year earlier, while the division's operating loss ballooned to $840 million from $248 million a year earlier. The quarter's losses include charges related to the company's plans to simplify its product portfolio and the software platforms it uses.
Co-CEO Sanjay Jha confirmed reports that Motorola will develop mobile phones for the Android platform. The company is also abandoning the Symbian UIQ operating system, and its proprietary mobile Linux OS, to focus on the Google-backed platform and Microsoft's Windows Mobile.
Defending the decision on the company's conference call with analysts on Thursday, Jha said that the experience of trying to commercialize a proprietary operating system and create an ecosystem of third-party developers around it has demonstrated the difficulty of the task. "We see a large ecosystem centered around the mobile Internet, Android, Windows Mobile," Jha said. He added that Motorola is working closely with the Android platform group and plans to open an office in Seattle to work more closely with Microsoft on Windows Mobile.
Motorola aims to have an Android-based handset out in time for the fourth-quarter holiday sales season in 2009.
Originally Posted: China Business Daily
Author: Angulo Fu
Haikou Free Trade Zone was Established
Haikou Free Trade Zone was established on Oct. 21, 1992 upon the approval of the State Council with an area of 1.93 km2. It was opened for formal operation on Apr. 13, 1993 upon the approval of the General Administration of Customs after examination. Jiang Zeming, former Secretary-general of CPC Central Committee, President of PRC and Chairman of Central Military Commission of PRC, and other heads of the state attended the opening and operation ceremony. From then on, the zone has shouldered the exploration into free trade zone development with Chinese characteristics and started its unusual journey.
The zone is located in the south of the central area of Haikou City with charming tropical scenery, only 3 km from Hainan's busiest Xiuying Port, 18 km from Haikou Meilan international Airport, and 10 km from the approach of Yuehai Railway. It enjoys very convenient traffic where the Nanhai Avenue links up with the Eastern and Western Expressways and middle national highway.
In the past 16 years, adhering to the principle that "development is of overriding importance", the zone made its interior construction scientifically, intellectively and ecologically with new and high technology as its leading industry to foster warehousing and logistics, and undertook function development according to the strategy of promoting peripheral economic growth with structural innovation, technical innovation and preferential policies, all of which had made satisfactory achievement. So far a Hi-Tech industry complex has been set up in the Area with biological pharmacy, automobile manufacturing, IT electronic information electronic machinery and processing as its mainstay. The Area has become a Hi-Tech industrial development base and demonstration plot of Hainan Province and efficiently fostered the peripheral economic growth.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, October 30, 2008
Novartis Focus on China OTC Business
October 30, 2007, the chairman of Beijing Novartis Pharma Ltd. Liu Zhenxian said Novartis China would continue to increase OTC products, convert smoking cessation products Nicotinell to OTC products, recover the sales commission of Lamisil form GSK, and introduce new types of OTC drug. Beijing Novartis planed to increase the ratio of China OTC business from 10% to 1/3 in 3 to 5 years.
From the end of 2006, Novartis had made all-round plan for the development of the OTC business, and set up a separate OTC division. Novartis China OTC Division is a relatively independent business, including sectors of market, HR, finance, drugs registration, business. The division was managed by Liu Zhenxian.
It is learned that Novartis China Nicotinell had been converted from prescription drugs into OTC. Novartis China will pay more attention to multi-level sale channels, including hospitals, pharmacies and supermarkets.
Originally Posted: China Business Daily
Author: Angulo Fu
Wednesday, October 29, 2008
Alibaba Stop Running Ads on Baidu
It is confirmed by Alibaba that Alibaba B2B had sent a formal notification to Baidu about the termination of the advertising contract on October 10. All ads will terminate soon.
Alibaba said that the termination of Baidu's advertising contract is based on the effect. Alibaba said that according to the analysis of customer data, the quality of Baidu's traffic has decreased year by year, there is a considerable proportion of unknown sources of invalid traffic.
As early as the end of 2007, Alibaba's brother company Taobao had been stopped running ads on Baidu. Taobao yesterday announced that over the past year after shield Baidu spider, the traffic continues to rise, up 180 percent. Taobao has been one of top three domestic sites. The growth of transaction volume is up 240 percent, as of September this year, monthly transaction volume has exceeded RMB 10 billion.
Originally Posted: China Business Daily
Author: Angulo Fu
Google Released G.cn for Chinese Users
On October 29, 2007, search engine giant Google registered g.cn in China. It is the shortest domain name in the history.
Google said that this short domain name would help the web users in the country as they would be able to type it in fast.
Market analysts believed that this is one of the most interesting steps taken by the company as they aim to challenge Baidu in China market.
Google had continued to use Google.cn in China market. Currently, g.cn domain is forwarding to Google.cn domain name.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, October 28, 2008
Alibaba Price to Minimum after the Listing
30 million U.S. dollars of "Winter Assistance Plan" doesn't bring good performance to Alibaba in the share price. Yesterday, with the crash of Hong Kong stock market, Alibaba also has created the Hong Kong dollar 3.71 per share, a 52-week low of records.
There is less than one year after Alibaba listing, but the current market value has been close to the amount of original financing.
Originally Posted: China Business Daily
Author: Angulo Fu
Huizhou 800,000 Tons Ethylene Plant Contract Signed
On October 28, 2000, the contract of Huizhou 800,000 tons ethylene plant was signed in Beijing. The contract had made history in China's petrochemicals industry. It had built and now operates a USD$4.1 billion world-scale petrochemicals complex, which was one of the largest capital investments for a Sino-foreign joint venture project to date in the People's Republic of China. The two side of contract were China National Offshore Oil Corp. (CNOOP) and Shell.
Under the contract, in 2005, a world-class modern petrochemical plant would be built in Daya Bay Economic and Technological Development Zone, Huizhou, Guangdong Province. Its main equipment includes: an annual capacity of 800,000 tons of ethylene cracker, a co-generation unit which an annual capacity of 560,000 tons of styrene monomer and 250,000 tons of propylene oxide, an annual capacity of 320,000 tons ethylene glycol unit, an annual capacity of 240,000 tons of polypropylene unit and so on. The petrochemical enterprises would introduce 12 world's most advanced technology. The plant with an annual output of 2.3 million tons of high quality petrochemical products, would replace some of the imported products on Chinese market. The annual sales would be expected to reach 17 billion U.S. dollars.
It is understood that the newly established joint venture company known as CNOOC and Shell Petrochemicals Company Limited (CSPC). Each accounted for the 50% of the shares.
Originally Posted: China Business Daily
Author: Angulo Fu
Monday, October 27, 2008
ICBC Launched Listing on A-share and H-share Markets
On October 27 2006, ICBC blazed new trail and successfully launched listing on both A-share and H-share markets and broke multiple records including the largest IPO in the history of global capital market. It earned reputation of the "Century Offer" in international medias and financial circle. The IPO further boosted ICBC's capital resources and influence on the international market. Till the end of 2006, the total market capitalization of the bank was in excess of USD 250 billion, qualifying it both as the biggest listed company on A-stock market and as the biggest bank in Asia and one of the top-three listed banks around the world. Furthermore, ICBC has also been included multiple key indexes including Hang Seng Index, MSCI China Index, H-share Index, and Shanghai Composite Index. ICBC is the most heavily weighted stock for Shanghai Composite Index and is the mostly weighted financial stock in MSCI China Index.
Industrial and Commercial Bank of China (ICBC) is the largest of China's "Big Four" state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It is the largest bank in the world in terms of market value and one of the world's top ten banks by assets.
It was founded as a limited company on January 1, 1984. As of 2006, it had assets of RMB 7,055 billion (US$893 billion), with over 18,000 outlets including 106 overseas branches and agents globally. In July 2007, with a market capitalization of US$254 billion, it became the world's most valuable bank after a strong gain in its share price, overtaking Citigroup.
Originally Posted: China Business Daily
Author: Angulo Fu
Sunday, October 26, 2008
eBay to Sell Skype
It is reported that there has been no profit since the acquisition, eBay plans to sell Skype. Google and Microsoft are likely to take over for snatching the IM market.
In 2005, eBay spent 2.6 billion U.S. dollars to buy Skype, trying to increase revenue of auction. However, in the period of nearly three-years, Skype did not only make profits but increase the operating costs, so the market rumors that eBay plans to sell Skype.
According to reports, originally planned to enter the IM market, Google intended to bid to buy Skype, and Microsoft has subsequently expressed the will want to take over Skype.
Skype is a software that allows users to make telephone calls over the Internet. Calls to other users of the service and to free-of-charge numbers are free, while calls to other landlines and mobile phones can be made for a fee. Additional features include instant messaging, file transfer and video conferencing.
It was created by entrepreneurs Niklas Zennström, Janus Friis, and a team of software developers based in Tallinn, Estonia. The Skype Group has its headquarters in Luxembourg, with offices in London, Tallinn, Tartu, Stockholm, Prague and San Jose.
Skype has experienced rapid growth in popular usage since the launch of its services. It was acquired by eBay in September 2005 for $2.6 billion.
Skype currently has 370 million users. The annual growth rate is 46%. In the 3rd-quarter of this year, there are 3200 increased users, an increase of 41%.
Originally Posted: China Business Daily
Author: Angulo Fu
Hang Seng Index's Largest One-day Decline
On October 26, 1987, Hong Kong Hang Seng index was down 33.3 percent in a single day, is the largest-ever single-day fall.
The Hang Seng Index (abbreviated: HSI) is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong. These 45 companies represent about 67% of capitalization of the Hong Kong Stock Exchange.
HSI was started on November 24, 1969, and is currently compiled and maintained by HSI Services Limited, which is a wholly owned subsidiary of Hang Seng Bank, the largest bank registered and listed in Hong Kong in terms of market capitalisation. It is responsible for compiling, publishing and managing the Hang Seng Index and a range of other stock indexes, such as Hang Seng China AH Index Series, Hang Seng China Enterprises Index, Hang Seng China H-Financials Index, Hang Seng Composite Index Series, Hang Seng Freefloat Index Series and Hang Seng Total Return Index Series.
Originally Posted: China Business Daily
Author: Angulo Fu
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