Walmart, the world’s largest retailer by sales, has invested in China’s largest e-commerce consumer electronics seller, 360buy.com, in a move that underlines the growing interest of global retailers in China’s rapidly growing online market.
The retailer was one of six investors in a round of funding that raised $500m for 360buy, whose rivals include Taobao, the dominant online marketplace owned by Alibaba.
EDITOR’S CHOICE
Supreme Court to hear Walmart case - Dec-07
Walmart sues CVS over top executive - Dec-03
Walmart slims down stores for China - Dec-01
Walmart to appeal ruling in sex bias lawsuit - Apr-27
Walmart vows to fight on - Apr-27
Walmart to seek lawsuit review - Apr-27
Walmart has about 300 stores in China. Its Sam’s Club discount warehouse business launched its own e-commerce business there in November, using a new global platform that it has built over the past two years.
The retailer has taken similar minority stakes with fledgling e-commerce businesses in the US that it has also worked with, including 1-800-Contacts, a contact lens retailer, and Green Dot, the web-based payments and financial company.
Tuesday, December 28, 2010
Walmart invests in China’s 360buy.com
Wednesday, October 27, 2010
China official sees room for U.S. trade target: FT
HONG KONG (MarketWatch) -- China and the U.S. have the basis for a pact setting specific targets to cut their trade imbalance at next month's Group of 20 nations summit, according to a senior adviser to the Chinese central bank quoted in a Financial Times report Wednesday. "China should not be afraid of numerical targets for reducing its trade surplus," said Li Daokui, a member of the People's Bank of China's monetary policy committee, according to the report. "China is well positioned politically and economically to make this adjustment." Li's comment came after PBOC Deputy Gov. Yi Gang was quoted as saying in media reports earlier this month that China planned to cut its current-account surplus to 4% of its gross domestic product in the next three to five years. In 2009, China's current-account surplus fell to 5.8% of its GDP, down from 9.4% in 2008, as the nation's exports fell and on strong imports.
Sunday, September 19, 2010
SouFun Holdings' IPO goes through the roof
http://www.soufun.com/Shares of SouFun Holdings, an online real estate services provider, soared nearly 73 percent in the debut on the New York Stock Exchange Friday, as confidence in China's property market remains strong.
Shares of the company, which controls almost half of China's online real estate advertising market, closed at $73.50, 72.9 percent above its offering price, the second-largest first-day gain for an IPO this year after raising $125 million.
"The massive gains show overseas investors are still optimistic towards opportunities in the Chinese real estate market," Chen Jie, professor with the Center for Housing Policy Studies at Fudan University, said Saturday.
Chen sited the country's rapid urbanization as a sign that demand for property-related services will only rise in the near future. Approximately 150 million rural residents moved to big cities last year, and that figure continues to rise.
As of June 30, SouFun Holdings covered 106 Chinese cities, according to its prospectus.
The company had operating revenue of nearly $70 million in the first half of the year, an 84.5 percent increase over the same period of 2009. Its net profit was $5.3 million, up almost 42 percent year-on-year.
But even as SouFun Holdings posts high growth, it still faces stiff competition and an uncertain regulatory future.
It competes against top-ranked China Real Estate Information Corp, which raised $216 million in a Nasdaq IPO last October.
Experts said China's policies to rein in rising housing prices would also affect SouFun, although not as much as other firms in the property sector.
Soufun provides real estate information rather than buy and sell property, so it faces lower risks than developers, but government policies will still impact its business, said Chen from Fudan University.
Five months ago, the government sought to tackle rising real estate prices with a slew of policy measures, but so far their impact has been small.
Jiang Dingzhi, deputy director of the China Banking Regulatory Commission, said in Shanghai Friday that the commission will not issue new housing regulations, but it will still continue to monitor current policies to see if they are having an effect.
Friday, June 25, 2010
Chinese factories struggle as wages rise
SHENZHEN, China Caixin Online -- Standing in a light rain, dozens of young men and women quietly waited at the closed gates of a Foxconn Technology Group recruiting office.
One woman said she'd traveled from another electronics company factory nearby to check out Foxconn's offer to increase salaries by up to 2,000 yuan ($295) a month. She called that kind of pay "unbelievable" for an electronics plant in China's Pearl River Delta.
The kind of work performed at Foxconn and her factory "is the same," the woman said. But the pay is not.
"I can only make 900 yuan there, so I'd like to quit and come over here and try."
Nevertheless, a notice posted at the recruitment office suggested a long and perhaps fruitless wait for the woman, as well as the other job hopefuls parked in the rain. The notice is also one reason why rumors, misunderstandings and doubts about Foxconn's salary increases have been brewing in Shenzhen and the rest of the Pearl River Delta, a major manufacturing base, for weeks.
Foxconn, the notice said, had temporarily suspended hiring May 29, more than a week before it announced June 7 that it would pay substantially more to qualified, front-line operators who pass a three-month assessment.
The hiring freeze also came just a few days before the company had implemented a one-time minimum-wage increase of more than 33% to 1,200 yuan a month. The rise was increased to 66% in a week.
These were unusually steep pay increases for Foxconn, China's largest contract manufacturer, which produces goods for Apple and other electronics giants. Yet the pay hikes followed 10 suicides and three unsuccessful attempted suicides at the company's sprawling Shenzhen campus since January.
Some blamed labor conditions for the suicides. And conditions among factory workers, particularly migrant workers, across China sparked similar discontent far beyond Foxconn. Workers at the Nanhai Honda factory in Foshan, for example, recently went on strike for two weeks and won a 35% pay raise.
Will more labor strife follow? Zhuang Li, vice president of Dongguan City Dalingshan Town Jutong Electronics Factory, doesn't think workers should get their hopes up.
"Widespread salary increases are unlikely," Zhuang said. "We won't follow the trend of increasing wages."
Strikes and other forms of labor-management friction are said to be hurting labor-cost advantages in China. And yet it appears to be dawning on Pearl River companies that the popular business model that's worked so well for years in the region -- a model based on low salaries and few worker benefits -- is coming to a close.
Revaluing labor
June 7 was a payday at Foxconn unlike paydays in the past. Luo Jun, a migrant worker at the factory said in the past a lot of employees simply picked up their cash and left. But this time "now that they say there is a raise," Luo said, "no one is leaving."
The 2,000 yuan base wage combined with overtime would allow front-line workers to make as much as 3,600 yuan per month. That's not much less than the average income for all Shenzhen residents last year, potentially reversing what was historically a wide gap between salaries for migrant and local workers.
A 2008 report, for example, said migrant workers earned only 27% of local workers' salaries in the city. The gap was widening, even as manufacturer earnings rose.
Wages in the delta region started climbing after the government implemented a new labor contract law in 2008. The most recent adjustment May 1 brought the region's four, minimum-wage standards over the past two years to levels that were up 30%.
Not all companies follow the wage rules. Liu Kaiming, director of the Shenzhen Institute of Contemporary Observation, said 90% of the factories he surveyed, regardless of size, file false salary reports with the local labor department and their customers. Numbers are fudged to make it seem they are paying minimum salaries.
Meanwhile, labor disputes have been on the rise. Liu reported in February that 52,140 labor dispute cases were reported in Shenzhen in 2008 -- 7.45% of the total number of cases nationwide. Most were related to migrant workers, and primary issues included late paychecks, excessive overtime and unpaid overtime.
Challenges for business
The Pearl River Delta was the first region to accept migrant workers and now hosts more than anywhere in China. Between 1986 and 2008, more than 300 million migrants have worked or currently work in the region.
These masses of low-paid migrant workers helped the region become a factory to the world over the past 30 years. Since the global financial crisis and an ensuing decline in exports, many migrants returned to homes in China's interior.
Labor shortages have been reported since last summer. A global economic rebound rekindled export orders. At the same time, companies in the region came under increased pressure to increase wages to attract workers.
The first to feel the pain were the business owners who had benefited from years of cheap labor.
This is the case for Zhuang's company, which is part of Taiwan's Taihua Group and has been making products such as stereos speakers and computer peripherals for Sony, Yamaha and other international companies since 1988.
Zhuang told Caixin the company raised its base salary 20% May 1. As a result, wages have grown to 12% from 8% of the company's costs, squeezing margins.
Zhuang said 90% of customer payments went toward wages and other costs. Customers are unwilling to pay more, even though labor costs are rising, and so the factory will post a loss of 2% to 3% this year.
The dean of Zhongshan University's Finance and Taxation Department, Ren Linjiang, said business is not necessarily bright for the Pearl River Delta's export manufacturers. Productivity has not recovered, he said, and rising wages will hike costs to levels that are unlikely to fall.
Foxconn strategy
As China's largest export company, Foxconn enjoys far greater flexibility than other manufacturers in the region. It has an advantage over others since, as one of the company's suppliers said, "only the biggest can survive" in the current competitive landscape.
Foxconn is one of a few leading companies that can set prices. Moreover, it can reduce the use of manual labor through automation or by relocating production to areas with lower labor costs.
The rating agency Standard & Poor's showed confidence in Foxconn, citing no plans to adjust the rating of Foxconn parent Hon Hai Precision despite the latest wage increases.
In fact, the raises appear to be a shift in strategy for Foxconn Chairman Terry Guo. "He simply added 66%" of wages "and will see how other factories react," said Wu Zhihao, marketing vice president at Shihlin Electric & Electronics Corp. "He has to raise wages this time, or there would be strikes."
So by significantly raising wages Guo "passed the ball to other companies and regained the initiative," Wu said.
And that's left most companies in the region facing a tough dilemma: Labor expenses have been the only elastic, controllable component of their business, but higher wages reduce this option's effectiveness and may cut competitiveness.
To avoid being squeezed out, companies may have to find new strategies. These may include automation, hiking productivity and reducing manual labor. Some companies have started considering factory relocations as well, although such moves are complicated.
Governments outside the Chinese mainland are trying to attract businesses. For example, the Taiwan Ministry of Economic Affairs is currently helping Foxconn find land on the island, discussing investment plans, and working to assist with utility, labor and other cost issues.
But Zhuang said although his company's officials have visited potential factory sites in Jiangxi and Guangxi provinces, as well as Vietnam and India, none of the alternative sites seemed a good fit.
"If you move, your raw material suppliers can't necessarily accommodate you," he explained.
Moreover, years of development has created solid supply chains in the Pearl River Delta and Yangtze River Delta manufacturing regions. As a result, low-cost materials can be obtained within 100 kilometers of many factories in these areas, encouraging companies to stay.
Labor upgrades
From a labor perspective, the latest wage increases have been a positive development. For example, Liu Kaiming of the Shenzhen Institute of Contemporary Observation applauded the salary increases.
"It's time for workers to receive reasonable compensation," Liu said, particularly since the blue-collar workforce market is shrinking.
In the current environment "companies are forced to constantly offer higher wages," he said. "The difference in incomes between white-collar and blue-collar jobs will be reduced."
Yet pay raises need not sound a death knell for manufacturing in China.
Associate Professor Lu Huilin of Peking University's Sociology Department said reasonable raises for workers will "not affect China's status as the world's factory" but rather "increase the number of value-added jobs" so that the "Made in China" label on manufactured products also becomes "Created in China."
Successful economic development in other Asian countries provides valuable lessons. Liu said countries such as South Korea adopted an export-oriented development strategy while actively investing in worker education and benefits and encouraging workers to move from the countryside to industrial and urban areas.
Blue-collar workers in these countries were able to share the fruits of national economic development, improving living conditions for their families, giving them dignity and providing education for their children. Ultimately, improved worker benefits raised innovation capacities.
If conditions for Chinese workers improve as well, while companies adjust to new realities of migrant labor and climbing wages, China's factories could enjoy a bright future. And workers at the Foxconn factory gate would see the benefits of waiting in the rain.
Tuesday, November 17, 2009
Qingdao Haier senior management changes
November 12, the Haier senior management changes. Zhou Yunjie will serve as Executive Director and Li Huagang as COO.
Haier announcement said Cao Chunhua due to changes in the workings of the Haier Group, has resigned from the executive director. The change has came into effect since November 12, 2009.
Zhou Yunjie, the general manager of Haier Electronics Group was appointed as Executive Director. 42-year-old Zhou Yunjie graduated from the Huazhong University of Science and Technology. Zhou Yunjie joined in Haier Group in 1988.
59-year-old Wu Kesong was transferred to Non-Executive Director, will responsible for Haier Group’s global business development.
43-year-old Liang Haishan was transferred to Non-Executive Director, will responsible for identifying market opportunities and develop the company’s business strategy of white goods.
About Qingdao Haier
Qingdao Haier Co., Ltd. is a China-based company primarily engaged in manufacture and sale of household electric appliances. The Company’s main products include refrigerators, freezers, air conditioners, dishwashers, microwave ovens, gas stoves, washing machines and other household electric appliances, among others. The Company provides its products under the brand named Haier. It distributes its products in domestic and overseas markets.
Previously, Qingdao Haier earned CNY 300.690 million net profit in Q3 2009, with a 48.88% surge year on year.
Tuesday, June 30, 2009
Pierre cardin sells part of business in China
On the 29th, Pierre Cardin announced that it will sell its garments and clothing business in China to two Chinese companies, total 200 million euros.
87-year-old Pierre Cardan said that in the past two months, the company has negotiated with Chinese companies on the sale of 32 kinds of authorized products. He pointed out that the sale contract will soon be signed.
The spokesman of Pierre Cardin said the two Chinese companies are Guangzhou Jian Sheng Trading Co., Ltd. (Jiansheng Trading Company) and Cardan Corporation (Cardanro). He said that now Pierre Cardin has more than 800 kinds of product licenses in 140 countries.
Pierre Cardin is the first international brand which enters the Chinese market. The relationship started in 1978. At that time Pierre Cardin was the first European designer to come to China.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, May 14, 2009
Tencent earned $366.4 million in Q1, net up 94%
Chinese Internet portal operator Tencent Holdings Ltd. said Wednesday its first-quarter net profit rose a better-than-expected 94% from a year earlier on higher revenue from Internet services. This figure breaks down into $278 million strictly from sales of Internet virtual goods and related services and $64.3 million from mobile sales of virtual goods and services. The remainder of Tencent's revenue, about $21 million, is accounted for by advertising.
But Tencent warned its performance this year will be hurt by the global slowdown. The company said it expects the economic environment to remain challenging in the midst of the global recession. "Our online advertising business would continue to be affected by the economic slowdown as advertisers remain cautious on their spending for 2009," Chairman and Chief Executive Ma Huateng said in a statement.
It should be noted that the huge increases reported in the Internet and mobile virtual goods categories may be affected by seasonal changes in consumer behavior patterns. Chinese New Year and student winter break periods bring major increases in spending on Tencent's QQ value-added services. For strictly game-related value-added services, Cross Fire, QQ Dancer, and Dungeon and Fighter all posted positive revenues and gains in numbers of users. Exact amounts were not disclosed.
Looking ahead to Q2, Tencent expects to see virtual goods sales decline as a result of seasonality while the advertising segment is expected to improve somewhat. Generally, though, Tencent expects users to continue spending a lot of time online.
So long as users are on the Internet in their day-to-day lives, then Tencent believes it has ample opportunity to engage users and encourage them to spend on virtual goods and other services.
Originally Posted: China Business Daily
Author: Angulo Fu
Friday, April 17, 2009
Blizzard partners with NetEase for China opps
Blizzard just confirmed it's gone with NetEase for its Chinese licensing, as has been rumoured for the last few days.
The9 was the previous holder of the contract.
NetEase will now run the Chinese version of World of Warcraft “for a term of 3 years following the expiration of the current license agreement.”
“We appreciate the enthusiasm that Chinese gamers have shown us over the years, and we've always worked hard, in collaboration with our partners, to ensure that these players receive the same high-quality service and gameplay experiences that we deliver in other regions.” said Blizzard head Mike Morhaime.
“This new agreement with NetEase will support that goal for years to come, and we look forward to collaborating with them on a smooth transition for World of Warcraft moving forward.”
Blizzard didn't specifically say this morning why it's dropped The9 in favour of NetEase to run its Chinese WoW operation, but Wedbush Morgan analyst Michael Pachter's claimed the answer’s simple: it's going to make a mother-trucking boatload more money from the new deal.
“The company had previously contracted with The9, but the current arrangement will expire in June 2009.” said Pachter in a note this afternoon.
“Under the terms of its contract with The9, Activision Blizzard received a royalty of 22% on revenues generated in China. We estimate that the current arrangement generated revenues of around $50 – 55 million annually (using most recent subscriber figures), at close to 100% margin. Although the terms of the new arrangement were not disclosed, we estimate that the royalty rate will increase to at least 55%, and that the new arrangement will generate revenues of over $140 million annually.”
$90 million is probably a good reason to kick a partner into touch. But don't shit the bed just yet, share-buyers: Pachter said he believed the upside - approximately $0.04 per share - has already been factored into forecasts.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, December 11, 2008
China Becomes WTO Member
China officially entered the World Trade Organization on December 11, 2001, becoming its 143rd member.
WTO Director-General Michael Kenneth Moore sent messages to the WTO members on November 20 to declare that the Chinese government accepted a protocol on its entry to the WTO on November 11. The protocol went into effect today, as China became a member of the WTO at the same time.
China's entry to the WTO is a major event for the country, and the world as a whole. Governments, business circles and social organizations all over the world have sent congratulatory messages to China's Ministry of Foreign Trade and Economic Cooperation, saying that China's entry will benefit its national economy, as well as encourage global economic growth and the improvement of the multilateral trade system.
China will fully participate in all the activities of the WTO, and will send a delegation and an ambassador to the WTO headquarters in Geneva, Switzerland.
A MOFTEC official said that China will enjoy all the rights the WTO gives to other members, and will observe the WTO regulations and its obligations to the organization.
He said that China, as a WTO member, will participate in a new round of multilateral trade negotiations, in which the country will play a constructive role.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, December 9, 2008
High Abandon Rate of Online Shopping Cart
According to a market analysis released by the iPerceptions recently, there is a high abandon rate of online shopping cart. The report found that in the online traffic, there are 16% of people have the shopping will, but only half of those buy something, others give up.
In the 50000 respondents, 47% of these online users' main objectives are visit, survey and contrast products. In addition to shopping, the other motives include 11% of the people want to get the product price and promotion information, 10% need customer support services, 4% in order to find the address of the store, the other 10% of visitors are viewing blog and video.
An online shopping cart (also as online trolley, online shopping trolley, online shopping basket) is a critical aspect of en e-commerce business. The shopping cart is the software (or series of scripts) that allows users to select products from your Web site, save them and check out when they are done shopping. In the early stages of electronic shopping, the shopping cart was usually a basic HTML form from which a customer selected the products he wanted to purchase. Long before using a credit card over the Internet was widely accepted, it was common to find that you would need to print the form and mail it along with a money order or credit card information to the company. Over time, as e-commerce grew and online stores began to offer hundreds, if not hundreds of thousands of products, obviously a better method for storing a customer's purchases and placing an order was needed.
The shopping cart acts as the user-interface for the customer to shop. It allows users to place items in a "shopping basket". The cart remembers these items for a predetermined length of time, usually 15 to 30 days unless the shopper removes the items from the cart. Today's shopping carts are really designed for the ease-of-use of the shopper. Extra features such as different color or size options, quantity of order, and matching item links can be integrated into the shopping cart. Once a shopper enters her shipping address, taxes and shipping costs can also be tallied from within the shopping cart. For the merchant, the shopping cart also provides important information, which is often transparent to the shopper, including a cart number to track the order, and even a cookie to provide you with some limited tracking details about your customer.
Within the genre of shopping cart software, merchants have many options to choose from. Some shopping cart software is designed to run on your own Web server, while others may run on the application provider's (hosted) servers. It is important to remember that a shopping cart is just one part of the e-commerce Web site, and as a stand-alone tool it usually will not provide payment processing. Once the customer completes her "check-out", the shopping cart delivers the order to the payment gateway, the service that automates the payment transaction between the shopper and merchant. Shopping carts are not storefronts (although they are integrated into storefronts, which we will discuss later).
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, December 4, 2008
China Consumers' Association Attacked Insurance Clause
December 4, 2004, China Consumers' Association and Zhejiang Province Consumers' Association published the comment on the unfair insurance of insurance industry.And published 10 points of views relating to life insurance and auto insurance.
After that, more and more people thought that insurance industry was a monopoly industry.
Originally Posted: China Business Daily
Author: Angulo Fu
Wednesday, December 3, 2008
Beijing Approved the Establishment of the First Private Enterprise
December 3, 1988, the first batch of eight private enterprises in Beijing Dongcheng District received the business license in the Trade and Industry Bureau, marking the new form of capital economy began to receive official recognition.
These bosses of eight private enterprises were the original individual investors, Wei Xiwang, the King of the Bing Tang Hulu employed 26 workers, including two professors and an engineer.
50-year-old Zheng Ling, a registered capital of 780,000 yuan, was the boss of first private foreign hotel in Beijing.
There are food factories, trading companies, stores and decoration design agency. The youngest boss was a 20-year-old girl. She enrolled workers with disabilities are engaged in the design and decorating.
At that time, in accordance with the relevant laws, if 8 or more employees, business assets to private owners were willing to abide by the "Provisional Regulations of the People's Republic of China Private Enterprises" were eligible to apply for the establishment of private enterprises.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, December 2, 2008
Zhou Zhengyi Got 16 Years Imprisonment
On November 30, 2007, Zhou Zhengyi was sentenced to 16 years in prison by the Shanghai People's Intermediate Court. Zhou was arrested again by Shanghai authorities on January 21, 2007, on charges of offering bribes and forging value-added tax invoices. He has also been charged with two other counts of bribery and embezzlement.
Zhou Zhengyi (born 1961) is a prominent businessman born and based in Shanghai, People's Republic of China. The flamboyant property developer is described as the 11th richest man in China, with personal assets totalling US$320 million.
Zhou owns an unlisted holding company in Hong Kong, called New Nongkai Global Investments, and 75% of a Hong Kong-listed investment company called Shanghai Land Holdings.
Zhou was detained in June 2003 and placed under investigation for illegally acquiring state land and bank loans. On June 1, 2004, he was sentenced to three years in prison for stock market fraud. This relatively light sentence has given rise to speculation that he is cooperating with authorities in other forensic accounting investigations, especially Chen Liangyu, and then-Shanghai Mayor Huang Ju.
Speculation on Zhou's arrest is centred upon high-level corruption in Shanghai, which may involve protégés of China's former president, Jiang Zemin. China's new leadership team of President Hu Jintao and Wen Jiabao may have decided to make an example of Zhou in order to embarrass Jiang Zemin's associates.
On October 23, 2006, the Independent Commission Against Corruption of Hong Kong obtained approval from a Hong Kong court to arrest Zhou for allegedly providing false information to the city's stock market regulators in relation to his acquisition of a listed company in 2002. In January 2006, Zhou's wife, Sandy Mo Yuk-ping, was sentenced to 3 years' imprisonment in Hong Kong for manipulating the price of Shanghai Land shares with the aim of defrauding investors.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, November 20, 2008
The 6th China (Guangzhou) International Automobile Exhibition Opening
The 6th China (Guangzhou) International Automobile Exhibition opened on November 19.
"Hi-tech Promise Future" as the theme with continuing "High Quality, International and Comprehensive" orientation, the organizers pay more attention to improve the quality of exhibition, to present an excellent pageant of auto industry for domestic and oversea visitors.
Auto Guangzhou 2008 is covering a total area of 125,000㎡. It is 25% bigger than previous one. For the first time that all thirteen exhibition halls will be used at area A in Pazhou complex.
Among these, the size of Passenger Cars Zone is 85,000㎡. More brands and famous companies will participate with their most up to date vehicles, technologies and concepts. Some new exhibitors, such as Lotus, Daihatsus, Fiat, Foton Motor etc., will have their first attend.
The size of the professional auto exhibition has a further expandation by the joining of Japanese Auto Parts Purchasing Zone and the domestic exhibition delegation group in Auto Parts and Accessories Zone. Over 400 manufacturing companies, about 40,000 trade buyers will stimulate the Auto Guangzhou professional exhibition zone to become the largest international purchasing platform in South China.
Originally Posted: China Business Daily
Author: Angulo Fu
Wednesday, November 12, 2008
Airmedia Financing $180 Million in Nasdaq
On November 12, 2007, Airmedia Group Inc. went public in Nasdaq. Guo Man, the CEO of Airmedia Group Inc. sounded the Nasdaq closing bell to celebrate financing 180 million US dollars.
Airmedia operate the largest digital media network in China dedicated to air travel advertising. The comapny operates over 95% of the digital TV screens that display advertisements in the 15 largest airports in China, according to an August 2007 report of Sinomonitor. The advertising portion of its programs currently accounts for over 80% of the total length of the advertisements played on the digital TV screens for each of the three largest airlines in China. Airmedia operate over 2,000 digital TV screens in airports, and place its programs on over 16,000 digital TV screens on airplanes.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, November 6, 2008
Azelis Become a Distributor of Reichhold in UK
Reichhold reached a commercial co-operation agreement with Azelis, a British distributor. Since then zelis will be a agency authorized by the Azelis, may be responsible for the sales and customer service in the Northern Ireland.
Reichhold's main production are polyester, vinyl polyester and gel-coated material, as well as other products are widely used in various industrial fields, such as energy, construction, marine vessels, transport, sanitary and kitchen products.
Maartenvanden Ouden, the area sales manager evaluates the cooperation between the two sides as follows: Reichhold will continue to offer high-quality products and services to users. By signing a new commercial agency contract with Azelis, we believe that this concept will continue to be passed in the Northern Ireland. Azelis has operated composites trading for many years, has a professional technology and business services team. I think Azelis will made a significant progress in the region by virtue of their strength.
Gianni Ostelli, the header of the Azelis international composite business department, said as a team sustain to concerned about providing customers with high value-added services, Azelis Composites will supply be first-class service to local users, and work together with Reichhold to promote the local business.
Background
Reichhold is the world's largest supplier of unsaturated polyester resins for composites and a leading supplier of coating resins for a wide variety of markets and applications. Reichhold has 18 manufacturing sites in 11 countries, including two tolling sites, throughout the Americas, the Middle East and Europe.
Founded in 1927, Reichhold will celebrate 80 years in business in 2007. With its world headquarters and technology center in Research Triangle Park, North Carolina, USA, Reichhold has the widest global reach of any resin supplier today.
Azelis provides access to European markets for manufacturers and suppliers of products to the following industry sectors: Coatings, Composites, Plastics, Chemical Industries, Pharma (human & veterinary), Animal Nutrition, Food & Health, Cosmetics and Rubber.
Its early strategy of growth through acquisition has resulted in almost total European coverage, with 32 companies integrated into an efficient operation that reaps the benefits of inter-group synergies whilst maintaining a deep knowledge of, and connection with, local markets.
Azelis employs nearly 1 100 people and in 2007 achieved sales of € 1 093 million.
Originally Posted: China Business Daily
Author: Angulo Fu
US Final Ruling on Anti-dumping Polyester Film
Recently, United States International Trade Commission (USITC) made a final ruling on anti-dumping polyester film originally from China, Brazil, Thailand and the United Arab Emirates.
The USITC judged China, Brazil and the United Arab Emirates to conducted dumping in US, have brought about substantial damage to the industry in the United States, and that Thailand was no substantial threat.
According to the USITC 's final ruling on the industrial damage, the United States will impose taxation on the polyester film from China, Brazil and the United Arab Emirates in accordance with the margin of dumping. And because of no damage, the United States will not be implemented anti-dumping measures on polyester film from Thailand.
It is understood that the margin of dumping of Chinese polyester film products involved in the case is from 3.49 percent to 76.62 percent.
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
Wednesday, October 22, 2008
Yahoo to Lay Off 1,500 Employees
On Tuesday, Yahoo announced third-quarter fiscal report. The net profit of Yahoo fell 64%, compared with the last year. Yahoo is expected to lay off worldwide staff at least 10% in the fourth quarter, that is 1,500 employees.
This is the second time large-scale layoffs in the last 9 months, because the decline in the overall economic growth made the third quarter net profit fell. The investors stew over a missed opportunity to sell to Microsoft Corp. for $47.5 billion.
Yahoo felt the squeeze in the third quarter as the Sunnyvale, Calif.-based company earned $54.3 million, or 4 cents per share. That was a plunge of 64 percent from $151.3 million, or 11 cents per share, at the same time last year.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, October 21, 2008
The Ninth APEC Economic Leaders Meeting
The Ninth Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting started Sunday morning at the Shanghai Science and Technology Museum on October 21, 2001. The annual gathering of Pacific Rim leaders is a forum of the highest level in the Asia-Pacific region.
Asia-Pacific Economic Cooperation (APEC) was established in 1989 in response to the growing interdependence among Asia-Pacific economies. Begun as an informal dialogue group, APEC has since become the primary regional vehicle for promoting open trade and practical economic cooperation. Its goal is to advance Asia-Pacific economic dynamism and sense of community. The purpose of the APEC meeting is to promote free trade and Asia Pacific cooperation in the fields of economy, trade, investment and technology.
The People's Republic of China, Hong Kong (Hong Kong, China, since 1997) and Chinese Taipei joined APEC at the third APEC ministerial meeting held in South Korea in November 1991.
Originally Posted: China Business Daily
Author: Angulo Fu
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