Chinese Language: 2007

Monday, December 31, 2007

Chinese Online Class - On Southeast Asia's doorstep, Guangxi enhances trade ties

BIZCHINA / Top Biz News

On Southeast Asia's doorstep, Guangxi enhances trade ties

By Zhan Lisheng (China Daily)
Updated: 2007-01-20 11:23

NANNING: Exploiting its location on the doorstep of Southeast Asia, South
China's Guangxi Zhuang Autonomous Region is working to further its trade
and economic engagement with ASEAN member states.

"The autonomous region enjoys every advantage for closer economic
cooperation and trade ties with Southeast Asian countries," said Li
Wenjie, deputy director-general of the autonomous region's commerce
department. "The local government has been taking measures to make good
use of these advantages."

He noted the region's government is encouraging firms in Guangxi to enter
industries such as energy and resource development, agriculture,
fisheries, aquaculture, animal husbandry and manufacturing, as well as
engineering projects in Southeast Asian countries.

Bordering Vietnam on both sea and land, Guangxi, aims to partner first
with that neighbor on a wide range products, resources and expertise, Li
said.

The region also hopes to forge closer economic ties with Malaysia and the
Philippines in agricultural technology and with Brunei in prawn
cultivation, he said.

He said that the autonomous region is making efforts to improve the
investment climate by enhancing government efficiency, simplifying
official procedures for ASEAN businesses and expanding infrastructure.

And the only "electronic port" in South China, designed to streamline
customs procedures, has opened in Pingxiang, an important port for
commerce with Vietnam.

The official is optimistic about future trade.

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Chinese Online Class

Learn Mandarin online - Nation now tops Mexico in US volume

BIZCHINA / Center

Nation now tops Mexico in US volume

By He Ning (China Daily)
Updated: 2007-01-17 08:46

Bilateral trade between China and the United States increased
dramatically in 2006, when China for the first time surpassed Mexico to
become the second-largest trading partner of the US.

Trade volume between the two countries reached $238.7 billion in 2006, an
increase of 24.6 percent from 2005.

China imported goods worth $53.94 billion from the US, up 22.9 percent
year-on-year, and exported $184.76 billion, 25.1 percent more than last
year. China achieved a trade surplus of $130.8 billion, a 26 percent
increase.

The US is now China's second-largest trade partner, biggest export
market, sixth-largest import market and third-largest technology import
market.

While the US remains a major source of foreign investment to China,
investment decreased in 2006. From January to October, the US invested in
2,529 projects, down 15.54 percent from the year before.

Contracted investment was $9.24 billion, a reduction of 11 percent from
the previous year. Total actual investment volume was $2.11 billion, a
13.21 percent decrease from 2005.

As investment from the US has decreased, the investment from China to the
US is increasing. By the end of June, China's total investment in the US
reached $82.3 billion.

The year 2006 has seen frequent high-level visits and dialog between the
two countries. President Hu Jintao visited US in April to promote Sino-US
cooperation.

The author is director of the Department of American and Oceanian Affairs
under the .

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Chinesepod - White-collars' hated inventions

BIZCHINA / Biz Life

White-collars' hated inventions

(crienglish.com)
Updated: 2007-01-10 17:11

An online post listing white-collar workers' four most hated modern
inventions is gaining popularity in cyberspace. Read on to discover what
contraptions the modern professional dreads.

The mobile phone is on the list of white-collar workers' four most hated
modern inventions.[crionline.cn]

Number one on the most-hated list is the punch machine.

32-year-old Mr. Zhang works for an IT company. He listed the punch
machine as his number one workday enemy after a number of unavoidable
incidents made him late to punch in for work. Zhang says most of his
colleagues are hardworking people, but they feel like the boss doesn't
trust them when he uses a machine to evaluate their performance. Zhang
plans to find another job at a company that does not use a punch machine.

Number two is instant noodles.

More and more people today realize instant noodles do not make for a
healthy meal, but lack of time forces many white-collar workers to eat
them instead of a well-rounded dinner. 27-year-old Mr. Zhu is a
salesperson who is so busy at work he doesn't even have time to wash his
socks. He regularly eats fast food takeaways or instant noodles for
dinner.

Mattresses weighed in at number three on the most-hated list.

Some veteran employees tell newcomers that having a mattress at work is
just like having a home at the company. To encourage their employees to
work overtime, a number of companies have issued their employees with
mattresses so they can catch a nap under their desks at any time of day.
People have started rejecting the mattress and taking better care of
their health after the media reported a number of people who died due to
overwork last year. But the mattress still ranks on the "most hated" list.

And last, but not least, the mobile phone.

A surgeon from a Beijing hospital says more and more white-collar workers
are turning up with a strange disease they dub "mobile phone elbow". The
patients' elbows are painful or numb, and sometimes they can't even raise
their hands. The doctor says the disease occurs when patients spend more
than 4 hours on their mobiles.

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Chinesepod

Learn mandarin - ParknShop comes back to city

BIZCHINA / Overseas Investment

ParknShop comes back to city

(Shanghai Daily)
Updated: 2006-12-25 14:26

The Hong Kong supermarket chain ParknShop will return to the Shanghai
market after shutting down nearly all its stores six years ago, company
officials said on December 22.

The retailer, owned by tycoon Li Ka-shing, will open a
13,000-square-meter hypermarket in northern Shanghai's Yangpu District on
Wednesday. The outlet comes on the heels of ParknShop's plan to expand
its retail network outside southern China.

"The hypermarket will be our major focus after re-entering Shanghai for
lower supply chain costs," said a spokeswoman surnamed Huang at the
Shanghai ParknShop office.

"We adopted the same strategy when we entered new markets in the western
and central part of China during the past year."

ParknShop, the largest supermarket retailer in Hong Kong, has opened two
hypermarkets in Chengdu, Sichuan Province, and one in Wuhan, Hubei
Province. It also plans to set up a store in Kunming, Yunnan Province.

In its key market in the Pearl River Delta, ParknShop runs more than 30
stores, about half of which are hypermarkets.

"While the southern region remains our major market, we don't want to
give up on Shanghai, from which we retreated six years ago," Huang said.

Entering Shanghai in 1994, ParknShop was the first overseas-funded
supermarket chain in the city. Its store number grew to a peak of 21 in
the late 1990s, many of which were located in downtown areas such as
People's Square.

The Hong Kong retailer was forced to sell most of its stores in 2000 to
Royal Ahold NV - the owner of another supermarket chain called Ding Ding
Xian - as a result of cash flow problems as China's retail regulations at
the time barred overseas funds from being used to increase registered
capital.

Those rules no longer apply.

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Sunday, December 30, 2007

Learn mandarin - Sasa expands on mainland

BIZCHINA / Overseas Investment

Sasa expands on mainland

By Ding Qingfen (China Daily)
Updated: 2006-12-20 14:25

Sasa, the Hong Kong-based cosmetics and beauty product retailer,
announced yesterday it will open two more stores in Shanghai in late
December and will have more than 20 stores on the mainland by 2008 in an
attempt to turn around recent profit losses.

"We plan to have 100 stores by 2011 on the mainland, with a budget worth
HK$100 million (US$12.7 million). The expansion rate here is the fastest
in the Asia-Pacific thanks to its huge potential," said Macy Leung,
Sasa's spokeswoman.

Sasa has 52 stores in Hong Kong and Macao, 12 in Singapore and 13 in
Malaysia.

On the mainland, its profits have been down. During the April-September
period, it saw a drop in operating profits of US$8.7 million (US$1.1
million) on the mainland, and will not break even until the end of 2008,
Leung said.

Comparatively, during the same period, Sasa's sales throughout Asia grew
by 14.6 per cent year-on-year, reaching more than HK$1.3 billion (US$167
million), according to its interim financial report.

"We have been losing money here, which is within our expectations," Leung
said, refusing to give more details. She said Sasa will disclose specific
figures for its mainland business next July.

Unsatisfactory profits have partly come from low returns on investment in
Sasa's first two flagship stores, which were set up last March and
November.

Each is located in the city's most bustling areas - Huaihai Road and West
Nanjing Road, and is 400 square metres.

"The rent is high in Shanghai. We aim to build up and promote Sasa's
branding image rather than do business by having the two stores," Leung
explained.

Sasa's other stores will cover an area of 100 square metres, less than
that of the flagship stores, and will be located in the city's
strategically important areas like shopping malls and high-level
residential districts. Choosing a perfect site has been frustrating,
Leung said.

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Learn Mandarin online - AT&T builds its second data center in city

BIZCHINA / Overseas Investment

AT&T builds its second data center in city

(Shanghai Daily)
Updated: 2006-12-12 14:45

AT&T Corp opened its second Internet data center in Shanghai yesterday,
despite grappling with regulatory barriers that restrict foreign
companies in the domestic market.

The new center, in Zhangjiang Hi-Tech Park in Pudong, will provide
high-speed Internet access and data storage for local enterprises.

AT&T has set up a US$25 million joint venture with Shanghai Telecom,
which was the first such business to win approval to set up value-added
telecom services.

AT&T, like other foreign telecommunications giants, is not allowed to tap
into domestic telephony services such as long-distance calls.

In China, the total enterprise-managed service market is expected to top
US$3.7 billion in 2006, according to research firm IDC, which forecasts
that the American market this year will reach US$6.9 billion.

AT&T, which moved its Chinese headquarters from Hong Kong to Shanghai
last year, said its revenue in China jumped 45 percent year-on-year in
2005 but declined to reveal detailed figures.

"We dream of expanding business nationwide but licensing is the issue.
The business we can do is restricted by the government," said Sainti Li,
AT&T China's general manager, in an earlier interview.

To gain a license in China for data services, foreign companies need a
domestic partner and must pay US$250 million for a license, a high entry
threshold for most foreign companies, industry insiders said.

"The government has blocked foreign firms from entering as home-grown
firms are not strong enough to compete yet," Norson Telecom Consulting
said in a statement.

Overseas firms, including AT&T, PCCW and Vodafone, have expanded in
broadband TV, data transition and network operation services through
strategic investments in China.

PCCW Ltd spent 318 million yuan (US$39.75 million) in March to establish
a 50-50 JV with China Netcom.

(For more biz stories, please visit Industry Updates)

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Learn mandarin - Carrier makes investment pledge as R&D center opens

BIZCHINA / Overseas Investment

Carrier makes investment pledge as R&D center opens

(Shanghai Daily)
Updated: 2006-12-01 13:56

Air-con and refrigerator maker Carrier Corp will open its global research
and development center in Shanghai today and boost its investment in
research and development in China up to US$50 million over the next three
to five years.

The R&D center in Jinqiao, Pudong, is one of the American company's 18
global R&D centers. The 20,000-square-meter center will develop modeling,
acoustics and vibration and will provide technical support for Carrier's
operations in China.

The initial investment in the center topped US$20 million. The firm
started construction of the center in May last year.

Carrier also opened a joint venture in Chengdu in the western province of
Sichuan yesterday to make airside products for the high-tier airside
market in industries including electronics, pharmaceutical and food
processing. Carrier will hold 60 percent of the joint venture, while the
Eleventh Design & Research Institute of IT Co and its affiliate will hold
the remaining stake.

Together with the new venture - Chengdu Carrier-EDRI Air Conditioning
Equipment Co - Carrier has poured US$190 million in China.

"Carrier's new factory in Chengdu will serve as a bridge, bringing
Carrier closer to the western customers," said Philippe Delpech,
president of Carrier Building Systems & Services Asia. "The new factory
also allows Carrier to reduce operating costs on logistics and local
sourcing."

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Learn mandarin - BBVA pays 989 mln euros for China's CITIC stake

BIZCHINA / Overseas Investment

BBVA pays 989 mln euros for China's CITIC stake

(Reuters)
Updated: 2006-11-23 11:37

Spanish bank BBVA said on Wednesday it had bought 5 percent of China's
CITIC group and 15 percent of Hong Kong-listed CITIC International
Financial Holdings Ltd for 989 million euros.

BBVA said in a posting to Spain's stock market regulator CNMV that it had
an option to raise its stake in CITIC to 9.9 percent. It paid 501 million
euros for 5 percent of CITIC and 488 million for the stake in its
international arm.

It was the biggest investment by a Spanish company in China, said BBVA,
which already has a strong presence in Latin America and earlier this
year bought two Texas-based lenders for $2.64 billion.

CITIC, China's number seven lender, will give BBVA access to China's
retail and corporate banking markets.

BBVA had faced competition for the CITIC stake from Japan's Mizuho
Financial Group Inc , France's BNP Paribas and China's largest life
underwriter, China Life Insurance , a source familiar with the situation
had said earlier in November.

BBVA said it would give a presentation about the deal at 11 a.m. Spanish
time (1000 GMT).

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Saturday, December 29, 2007

Learn Chinese online - Ford to set up Nanjing research center

BIZCHINA / Overseas Investment

Ford to set up Nanjing research center

(Shanghai Daily)
Updated: 2006-11-20 14:25

Ford Motor Corp said yesterday it would invest 220 million yuan (US$27.5
million) to set up an automotive research and development center in China.

The United States' second-largest auto maker said the first phase
investment in the R&D and engineering center in Nanjing, Jiangsu
Province, would help it supply the auto parts sourcing industry in China
as well as provide technology for localized production.

Ford said the long-term plan was to establish the center as a global base
for production design and technology innovation on all Ford models and
recruit more Chinese engineers.

"Turning global technology capabilities into real competitiveness on the
Chinese market will enable us to take a big step forward," Meiwei Cheng,
chairman and chief executive officer of Ford Motor China Co Ltd, told
reporters in Beijing, on the eve of the 2006 Beijing Autoshow.

The car maker will exhibit more than 52 new models under all its car
brands including Ford, Lincoln, Jaguar, Land Rover, Volvo and Mazda at
the show.

Ford has been aggressively catching up with General Motors Corp,
Volkswagen AG and Toyota Motor Corp by building new factories, increasing
sourcing from China as well as outfitting a complete line up with its
affiliated brands.

It plans to build its latest S-Max sports utility vehicle in China early
next year, expanding its Ford-branded production portfolio from Fiesta,
Mondeo, Focus hatchback and Focus sedan.

Ford plans to boost its capacity to more than 400,000 units in China next
year after the completion of its second plant in Nanjing in addition to
the current Chang'an Ford Mazda Automobile Co Ltd.

China, with an average 25 percent car-sales growth, is playing an
important role for Ford to rev up its sales amid sluggish home-market
demand.

Sales in the first 10 months grew 101 percent to 127,392 units in China.

(For more biz stories, please visit Industry Updates)

Learn Chinese online

Chinesepod - Bank of China

BIZCHINA / Finance

Bank of China

(boc.cn)
Updated: 2006-11-15 15:47

Bank of China,or Bank of China Limited in full, is one of China's four
state-owned commercial banks. Its businesses cover commercial banking,
investment banking and insurance. Members of the group include BOC Hong
Kong, BOC International, BOCG Insurance and other financial institutions.
The Bank provides a comprehensive range of high-quality financial
services to individual and corporate customers as well as financial
institutions worldwide. In terms of tier one capital, it ranked 18th
among the world's top 1,000 banks by The Banker magazine in 2005.

The Bank is mainly engaged in commercial banking, including corporate and
retail banking, treasury business and financial institutions banking.
Corporate banking is built upon credit products, to provide customers
with personalized and innovative financial services as well as financing
and financial solutions. Retail banking serves the financial needs of the
Bank's individual customers, focusing on providing them with such
services as savings deposit, consumer credit bankcard and wealth
management business. Treasury business includes domestic and
foreign-currency trading and investment, fund management, wealth
management, value-secured debt business, domestic and overseas financing
and other fund operation and management services.

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Chinesepod

Learn Mandarin online - New policy stresses quality of foreign investment

BIZCHINA / Investment Alerts

New policy stresses quality of foreign investment

(Xinhua)
Updated: 2006-11-10 14:14

China on Thursday published its 11th Five-Year Program (2006-2010) for
utilizing foreign investment, which says the priority of policy will be
given to the quality rather than quantity of such investments.

The National Development and Reform Commission published the document on
its website, the first time such a document has been published.

"This is an important measure taken by China in creating a stable and
transparent foreign investment management system as well as a fair and
predictable policy environment," the NDRC said.

According to the document, China utilized 383 billion U.S. dollars of
overseas investment during the 10th five-year plan period (2001-2005),
including 286 billion dollars in overseas direct investment, 38 billion
dollars in stock issuances and 46 billion dollars in foreign loans.

It criticizes some local governments for their blind seeking of foreign
investments, some of which are apparently against the central
government's industrial policy.

The document notes that emerging monopolies by foreign businesses in
certain industries are posing a potential threat to China's economic
security.

It also criticizes foreign businesses for abusing intellectual property
right protection laws, adding that this has adversely affected Chinese
enterprises' capacity for independent innovations.

The document says China will push for further shifting of policy priority
from the quantity to the quality of foreign investment during the next
five years.

Priority shall be given to the introduction of advanced technologies,
management expertise and high-quality talents, rather than the use of
foreign capital, the document says.

More emphasis shall also be given to the protection of environment and
efficient use of natural resources, it says.

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Learn Mandarin online

Chinesepod - Law widens definition of money laundering

BIZCHINA / Top Biz News

Law widens definition of money laundering

(Xinhua/China Daily)
Updated: 2006-11-01 06:47

Landmark legislation on anti-money laundering and death sentences was
approved by China's top legislature Tuesday and is scheduled to take
effect on January 1.

The Standing Committee of the National People's Congress widened the
definition of money laundering to include corruption and bribe taking,
violating financial management regulations and financial fraud.

Previously, the law identified only drug trafficking, organized or
terrorist crime and smuggling as money laundering.

Officials and analysts believed the ambit was too narrow and called for
stepped-up efforts to combat money laundering and stop corrupt officials
fleeing abroad with large amounts of illicit money.

The law demands that financial and some non-financia l institutions
maintain customer and transaction records and report large and suspect
transactions.

The People's Bank of China, the central bank, and its provincial branch
offices are authorized to investigate suspect fund transfers.

According to the China Anti-Money Laundering Monitoring and Analysis
Centre, an office under the central bank set up in 2004, 683 suspected
money laundering cases had been reported to the police by the end of
2005. They involved 137.8 billion yuan (US$17.2 billion) and US$1 billion.

The law, made as required by the United Nations Convention Against
Corruption, also pledges to step up co-ordination with other countries to
combat global money laundering and exchange information with overseas
anti-money laundering organizations.

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Chinesepod

Friday, December 28, 2007

Learn Chinese online - Starbucks acquires local coffee company

BIZCHINA / Top Biz News

Starbucks acquires local coffee company

By Zheng Lifei (China Daily)
Updated: 2006-10-25 11:17

Starbucks, the world's biggest coffee chain operator, bought Beijing Mei
Da Coffee Co yesterday, its authorized developer in North China, as it
steps up its expansion in the country.

A Starbucks employee pours coffee beans into a grinder at the
Seattle-based company's first retail coffee store in Beijing in this Jan.
11, 1999 file photo. Starbucks Corp. said Tuesday it has expanded direct
control of its operations in China by buying a Hong Kong company that has
operated more than 60 of its coffee houses.[AP Photo]

The Seattle-based coffee chain yesterday acquired High Grown Investment
Group (Hong Kong), the majority shareholder of Beijing Mei Da, from H&Q
Asia Pacific, a private equity firm.

Beijing Mei Da currently operates more than 60 Starbucks retail outlets
in Beijing and the nearby port city of Tianjin.

Both sides declined to reveal the financial terms of the deal.

The latest acquisition, which gives Starbucks a 90 per cent controlling
stake in Beijing Mei Da, will help the coffee company "achieve greater
operational efficiencies and accelerate our expansion in China," said
Wang Jinlong, president of Starbucks Greater China, yesterday.

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Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.

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Learn mandarin - Private equity

BIZCHINA / Finance/Investment

Private equity

(Wikipedia)
Updated: 2006-10-19 09:07

Private equity is a broad term that refers to any type of equity
investment in an asset in which the equity is not freely tradable on a
public stock market. Categories of private equity investment include
leveraged buyout, venture capital, growth capital, angel investing,
mezzanine capital and others.

Private equity securities
Private equity securities refer to securities in companies that are not
listed on a public stock exchange; while technically the opposite of
public equity they are broadly equivalent to stocks, though return on
investment often takes much longer. As they are not listed on an
exchange, any investor wishing to sell securities in private companies
must find a buyer in the absence of a traditional marketplace such as a
stock exchange. In addition, there are many transfer restrictions on
private securities. This long term investment area currently has over
US$710 billion in assets.

The sale of private securities is used by companies to generate capital.
Investors generally receive their return through one of three ways: an
initial public offering, a sale or merger, or a recapitalization.
Unlisted securities may be sold directly to investors by the company
(called a private offering) or to a private equity fund, which pools
contributions from smaller investors to create a capital pool.

Private equity funds
Although other structures exist, private equity funds are generally
organized as limited partnerships which are controlled by the private
equity firm that acts as the general partner. The fund obtains
commitments from certain qualified investors such as pension funds,
financial institutions and wealthy individuals to invest a specified
amount. These investors become passive limited partners in the fund
partnership and at such time as the general partner identifies an
appropriate investment opportunity, it is entitled to "call" the required
equity capital at which time each limited partner funds a pro rata
portion of its commitment. All investment decisions are made by the
General Partner which also manages the fund's investments (commonly
referred to as the "portfolio"). Over the life of a fund which often
extends up to ten years, the fund will typically make between 15 and 25
separate investments with usually no single investment exceeding 10
percent of the total commitments.

General partners are typically compensated with a management fee, defined
as a percentage of the fund's total equity capital. In addition, the
general partner usually is entitled to "carried interest", effectively a
performance fee, based on the profits generated by the fund. Typically,
the general partner will receive an annual management fee of 2 percent of
committed capital and carried interest of 20 percent of profits above
some target rate of return (called "hurdle rate"). Gross private equity
returns may be in excess of 20 percent per year, which in the case of
leveraged buyout firms is primarily due to leverage, and otherwise due to
the high level of risk associated with early stage investments. Although
there is a limited market for limited partnership interests, such
interests are not freely tradeable like mutual fund interests.

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Chinesepod - Trade: Retail sales to grow 11% annually

BIZCHINA / Biz Media Digest

Trade: Retail sales to grow 11% annually

(Xinhua)
Updated: 2006-10-13 10:31

Chinese economic officials have set a target of at least 11 percent
annual growth for retail sales from 2006 to 2010.

The growth rate of capital goods sales value will average at least 11
percent annually in the coming five years, according to the first
Ministry of Commerce five-year plan for commerce.

Under the plan, China will endeavor to balance trade with imports and
exports set to reach 2.3 trillion U.S. dollars by 2010, with an annual
growth of about 10 percent.

The target aggregated overseas direct investment until 2010 will amount
to 6 billion dollars with more Chinese companies exploring opportunities
abroad.

(For more biz stories, please visit Industry Updates)

Chinesepod

Learn Mandarin online - Ad anger

BIZCHINA / Biz Life

Ad anger

(Xinhua)
Updated: 2006-10-07 08:48

A Hong Kong star faces a lawsuit over adverts she appeared in for beauty
product SK-II, which has been found to contain harmful metals.
[Shanghaidaily.com]
A woman in eastern China's Jiangxi Province is suing Hong Kong film star
Carina Lau who appeared in an advertisement endorsing Japanese cosmetics
brand SK-II.

"She should pay for cheating customers with false advertising," said
furious 43-year-old Lu Ping.

Lu filed a lawsuit against Lau and is awaiting a local court decision on
whether it will accept the case.

Lu saw an advertisement in a fashion magazine in January last year, in
which Lau claimed using the product for four weeks could help "reduce
wrinkles by 47 percent and make you appear 12 years younger."

Because Lu is about the same age as the actress, she decided to try the
product.

She bought a bottle of skin-tightening, anti-wrinkle facial milk. But 28
days later, her skin had not become silky. Instead, she says, her face
became itchy and she felt a burning sensation.

Last month, China's General Administration of Quality Supervision,
Inspection and Quarantine found chromium and neodymium in nine SK-II
products, including the one Lu used.

The toxic heavy metals can cause dermatitis and skin rashes. Neodymium
also causes harm to eyes, lungs and liver. They are banned for use in
cosmetics in China.

SK-II products were taken off the shelves in China last month and Procter
and Gamble, the company that owns the brand, was fined 200,000 yuan
(US$25,000) for false advertising.

But Lu believes Lau is also culpable. "I wouldn't have bought it (the
product) if she hadn't advertised it," she said.

Lau has continued to support SK-II, saying there is nothing wrong with
the brand and she would "support SK-II as always."

Qiu Baochang, director of the committee for protecting consumers' rights
under the Beijing Bar Association, said misleading consumers with false
advertisements is potentially very harmful.

Lau is not the only celebrity to be involved in questionable advertising.

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Thursday, December 27, 2007

Learn mandarin - IT: Blogging leaps 30-fold in four years

BIZCHINA / Biz Media Digest

IT: Blogging leaps 30-fold in four years

(Shenzhen Daily)
Updated: 2006-09-27 15:53

The number of blog sites in China reached 34 million last month, a
30-fold increase from four years ago, State media said yesterday.

China has more than 17 million people writing blogs (short for Web logs)
and more than 75 million people reading them, Xinhua news agency said.
"The rapid growth of blog sites in China also brought potential business
opportunities to the advertising industry," Xinhua said. "Some blogs
written by famous people attract millions of daily readers." The report
said that out of the 34 million blog sites, 70 percent are "dormant,"
having remained unchanged for more than a month.

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Chinesepod - Pyramid crackdown

BIZCHINA / Weekly Roundup

Pyramid crackdown

(China Daily)
Updated: 2006-09-25 16:23

Pyramid crackdown

The State Administration for Industry and Commerce (SAIC) of China has
launched a one-year-long nationwide crackdown on pyramid selling in
collaboration with the Ministry of Public Security.

The crackdown will mainly focus on Guangxi, Guangdong, Shandong, Henan
and 10 others regions where pyramid selling is particularly rampant, a
SAIC spokesperson said last Wednesday.

The campaign will particularly target organizations engaged in
cross-regional pyramid selling, the recruitment of students into such
activities, and organizations that misrepresent reality to recruit their
members, accommodate them in dormitories and force them to engage in
pyramid selling, the spokesperson said.

Pyramid selling was outlawed in China in 1988. Years of crackdown,
however, have failed to completely weed it out.

China-US dialogue

High-ranking Chinese and US officials will meet twice a year for
wide-ranging discussions on their economic relationship, the first such
mechanism between the two nations.

The establishment of the China-US Strategic Economic Dialogue was jointly
announced by Vice-Premier Wu Yi and visiting US Treasury Secretary Henry
Paulson in Beijing last week.

The dialogue will focus on bilateral and global strategic economic issues
of common interest and concern; and both sides intend to meet twice a
year in alternate capitals, according to a joint statement.

1 2 3 4

Biz Shop

Ripe time for Shanghai Port

The container throughput of the Shanghai Port reached 13.9574 million
TEUs in the first eight months of this year.

� New berth opens at Yantian Int'l Container Terminals

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

Logistics China AutoChina
China Banking China Medicine
China Energy China Insurance

Biz Guide

� Investment Alerts: Port to benefit from preferential policies
� Local Resources: Shanghai set to become CPS hub
� Industry Overview: New stimulations for housing purchases
� China & Globalization: China blocks first move in WTO auto parts tussle
� Biz Laws & Policies: Wait almost over for banking regulation
� Development Zones: Beijing Economic and Technological Development Area

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Chinesepod

Chinese Online Class - Tourism: International Geoparks entitled

Learn Mandarin online - Finance: World blue chip challengers

BIZCHINA / Biz Media Digest

Finance: World blue chip challengers
(Xinhua)
Updated: 2006-09-14 14:24

Six companies based on the Chinese mainland are listed as Global
Challengers published in Beijing on Thursday by Standard and Poor's.

COSCO Shipping, China International Marine Cont B HKD, Qinghai Salt Lake
Potash, China Vanke Co B HKD, Dashang Group and Offshore Oil Engineering
are on the list of 300 mid-size companies that are expected to emerge as
challengers to the world's leading blue chip companies.

The list is comprised of those publicly traded companies that show the
highest growth characteristics along dimensions encompassing intrinsic
and extrinsic growth. The international index provider will publish the
list on an annual basis, and will track its performance through annual
publications.

Standard and Poor's said the Global Challengers List was based on a
robust methodology that applies consistent standards to multiple
countries. The attributes used to identify the companies are share price
appreciation, sales growth, earnings growth and employee growth.

(For more biz stories, please visit Industry Updates)

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Learn Mandarin online - Under influence of Midas touch

BIZCHINA / Biz Life

Under influence of Midas touch
By Zhang Fengming (Shanghai Daily)
Updated: 2006-09-12 10:20

The country's consumers are willing to spend more on high-end gold
jewelry despite, or perhaps because of, high-flying gold prices, a China
Gold Association survey found.

In a poll conducted in eight cities including Shanghai, Beijing, and
Guangzhou, 11.8 percent of respondents said they will spend more than
5,000 yuan (US$629) on gold jewelry in the coming year while the figure
three years ago stood at a mere 2.1 percent.

"There is a trend for more high-end jewelry consumption in China as more
people are spending higher amounts on gold jewelry and the price of the
yellow metal is rising," said An Qiongwei, an association official.

More than 46 percent of respondents said they bought gold jewelry in the
past year, reported the survey, which was posted on the association's
Website yesterday.

Gold bullion prices in Asia, London and New York passed US$700 an ounce
in May, the highest level since 1980. Prices dropped in June but later
showed signs of a rebound.

The survey also indicated that 24-carat gold jewelry still dominates the
Chinese market as more than 60 percent of the interviewees said they will
opt for higher-purity products over 18-carat gold.

The 18-carat segment, whose prices are set by the piece, is less
sensitive to fluctuation. The market share of the 75-percent pure gold
jewelry rose to 15 percent in 2005 when the industry began heavily
promoting 18-karat gold, according to the World Gold Council.

Chinese have shown a traditional fondness for 24-carat gold jewelry, or
99.9 percent pure gold, as a safe haven against inflation.

The retail sales value of gold in China gained 40 percent due to higher
gold prices in the second quarter. Sales in terms of weight slipped 2
percent to 56.3 tons in the same period.

(For more biz stories, please visit Industry Updates)

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Learn Mandarin online

Wednesday, December 26, 2007

Chinese School - Trade: China-Japan relations

BIZCHINA / Biz Media Digest

Trade: China-Japan relations
(China Daily)
Updated: 2006-09-06 11:22

China and Japan are important trading partners, and to further strengthen
bilateral economic and trade relations is in the interest of both sides,
Premier Wen Jiabao said yesterday.

Wen made the remarks when meeting a delegation from the Japan-China
Economic Association, led by President Chihaya Akira and advisor Mitarai
Fujio, who is also chairman of the Japan Business Federation.

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Chinese School

Learn Chinese online - Auto: Automakers have listing bug

BIZCHINA / Biz Media Digest

Auto: Automakers have listing bug
(Shanghai Daily)
Updated: 2006-08-30 15:15

The listing bug that gripped the information technology industry about
five years ago seems to have hit China's auto industry now.

Shanghai Automotive Co Ltd said it plans to issue 3.27 billion A shares
at 5.82 yuan (72 US cents) each to its parent, Shanghai Automotive
Industrial Corp, to fund the purchase of SAIC's 20 billion yuan worth of
core assets. On completion of the deal, SAIC would raise its stake in
Shanghai Auto from 67 percent to 83 percent.

Auto analysts said the listing move signaled SAIC's aggressiveness to
seek a back-door listing while it also indicated Shanghai Auto's plan to
boost its competitiveness.

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Learn Chinese online

Chinesepod - Construction: ING, Gemdale in property JV

BIZCHINA / Biz Media Digest

Construction: ING, Gemdale in property JV
(Shenzhen Daily)
Updated: 2006-08-24 16:30

Shenzhen-based property developer Gemdale Corp. said yesterday it would
form a strategic partnership with a real estate investment unit of ING
Group to explore business opportunities in the world��s fourth-largest
economy.

ING, the biggest Dutch financial services provider, and Shanghai-listed
Gemdale Corp. will jointly build and manage residential and commercial
real estate projects in China, Gemdale said. ING will set up a property
joint venture with Gemdale in which ING will invest nearly 137 million
yuan (US$17.2 million) for a 51 percent stake.

(For more biz stories, please visit Industry Updates)

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Chinesepod

Learn Mandarin online - Finance: Firms to establish risk reserve

BIZCHINA / Biz Media Digest

Finance: Firms to establish risk reserve
(Shanghai Daily)
Updated: 2006-08-21 16:03

The securities regulator has ordered fund management firms to set aside
at least 5 percent of their monthly income from fund management toward a
risk reserve to protect investors' interests, the Financial News reported
Friday.

Firms should put money into their individual reserve until the amount
reaches 1 percent of their net assets under management, the paper cited a
China Securities Regulatory Commission announcement as saying. Each
firm's reserve will be held in a special account with its custodian bank,
the report said. The reserves would mainly be used to cover any losses
originating from violations of laws or contracts, technical defaults or
inappropriate operation, it said.

(For more biz stories, please visit Industry Updates)

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Today's Top News

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� 75th anniversary of invasion marked

� Man rejects first penis transplant

� Female space tourist blasts off

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� New regulation on IPO takes effect

� China Re plans dual-listing in HK, Shanghai

� Shanghai, Guangzhou connected with Lhasa by train

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Learn Mandarin online

Tuesday, December 25, 2007

Chinese Online Class - Kennametal promises 400 jobs in new Tianjin factory

BIZCHINA / Overseas Investment

Kennametal promises 400 jobs in new Tianjin factory
(Xinhua)
Updated: 2006-08-16 13:42

U.S. cutting tool maker Kennametal Inc. has announced plans to open a new
factory in Binhai New Area in north China's port city of Tianjin,
promising 200 new jobs initially.

The factory will be the company's third and biggest in China.

The new plant, built at a cost of 31 million U.S. dollars, covers 15,000
square meters and would be expanded to 42,000 sq m, said Carlos Cardoso,
the firm's president and chief executive.

The expansion would see the number of jobs exceed 400, said Cardoso.

The new plant will mainly produce blades, drills and wear partsfor
industrial use, and provide customers with customized equipment.

Kennametal, headquartered in Latrobe, Pa., USA, entered China in 1991. It
has already set up a research and development laboratory in Tianjin.

The State Council designated Binhai New Area, with an area of 2,270
square kilometers, as an experimental zone for comprehensive reforms in
early June.

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Chinese Online Class

Learn Mandarin online - Dutch bank quickens pace to expand

BIZCHINA / Overseas Investment

Dutch bank quickens pace to expand
By Hu Yuanyuan (China Daily)
Updated: 2006-08-01 11:33

Dutch bank ABN AMRO will speed up its network expansion in China in
preparation for the opening of retail renminbi business to foreign banks
by the end of this year.

"We want to be close to our customers," said Kadichah Hei, vice-
president of ABN AMRO Bank's (China) consumer client sector. "It's
important for a bank to be close to its customers, especially in a
country as large as China."

The bank plans to open two new branches in China's central regions and a
further sub-branch in Shanghai soon.

Hei said the bank would open more outlets this year, but she declined to
give further details.

By the end of June, ABN AMRO had three branches and five sub-branches in
Shanghai, Beijing and Shenzhen.

The bank has another three offices in Guangzhou, Wuhan and Tianjin. "But
we don't have a plan to upgrade these representative offices to branches
in the short term," Hei added.

As foreign banks will be able to provide a retail renminbi service to
local residents by the end of this year, they are quickening their
network expansion.

HSBC, Europe's largest bank, has expanded its network presence in China
to 23 outlets, including 12 branches and 11 sub-branches. And the number
of branches will increase to 14 by the end of this year, with the number
of sub-branches also growing.

The number of Standard Chartered branches and sub-branches jumped from
eight to 14 in 2005, and that number is likely to exceed 20 by the end of
this year.

Page: 1 2

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Learn Mandarin online

Chinese School - Graduates trained as maids

BIZCHINA / Biz Life

Graduates trained as maids
(China Daily)
Updated: 2006-07-20 15:19

Thirty-two female university graduates are undergoing a month-long
training course to become housemaids for foreign families.

All of them, aged 21-25, are English majors who have studied for three
years in Hechi University in Guangxi Zhuang Autonomous Region, which
neighbours Guangdong Province.

The students have high expectations for their new job, which is scheduled
to start later this week.

"By serving foreign families we can practise oral English and learn their
lifestyles. The work environment is attractive," said one of the
trainees, Mo Hui.

Most of the women are from poor rural areas and are used to doing
housework, but the month-long course given by a Filipino expert on
domestic service aims to increase their confidence.

The newly-acquired skills include preparing western food, taking care of
babies, feeding pets, making cocktails and taking care of the elderly.
They have also taken courses on general knowledge about foreign
countries, etiquette and customs.

The salary is attractive: They will earn 1,800 yuan (US$225) a month for
the first two months of probation and 2,000 yuan (US$250) afterwards. One
year later, their salaries could be raised to 3,000 yuan (US$375) or
4,000 yuan (US$500), almost the same as a while-collar worker, according
to Shenzhen Jujiale Home Service Chain Management Co.

"The income is very good for a college graduate. In Nanning, the capital
city of Guangxi, the monthly salary would be less than 1,000 yuan
(US$125)," said Mo Juzhen.

Chen Jian, assistant to the general manager of Jujiale, said demand for
quality housekeepers is increasing.

Government figures show that there are about 10,000 foreign families in
Shenzhen. Some high-income Chinese families are also looking for
qualified tutors to educate their children. "Our well-trained and well
educated domestic helpers target these groups," Chen told China Daily.

Chen said the graduates were chosen from more than 200 applicants. "We
told them repeatedly the hardships of the job. They are optimistic,
confident and we have given them sufficient psychological training."

The company has signed a contract with Hechi University, which will
supply dozens of English major graduates to the company each year, she
added.

China's university enrolment expansion allows more students to go to
university, but millions of graduates face increasing difficulties in
finding a good job.

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Chinese School

Learn Chinese online - Oracle to open more offices

BIZCHINA / Overseas Investment

Oracle to open more offices
By Jonathan Yeung (China Daily HK)
Updated: 2006-07-11 15:12

Oracle's rising profit on the mainland has prompted it to strengthen its
presence there.

"By the end of 2006 we will open 26 new branch offices (on the
mainland)," Oracle Asia Pacific's senior vice-president of applications
Mark Gibbs said yesterday.

The world's leading corporate software maker has six branch offices and
research centres in Beijing, Shanghai, Shenzhen and Chengdu.

Gibbs said Oracle would work more closely with the mainland's big
manufacturing companies. "We will work with more major manufacturers such
as Chang'an Group and expand the use of enterprise applications to their
supply chain network."

Oracle will segment the mainland's market into specific micro industries
and provide vertical solutions that can meet the specific needs of
different industries, he said."We will deliver customer value with the
industry's most complete software architecture."

Oracle's application new licence business in Asia Pacific grew 80 per
cent in 2005-06. "The fiscal year (that ended on March 31, 2006) has been
a year of tremendous growth for Oracle's application business in Asia
Pacific," Gibbs said.

"Oracle is clearly gaining customer mind-share and taking away market
share from our competitors in this region," he said.

Oracle Asia Pacific (excluding Japan) recorded a significant year-on-year
growth in new application licence revenue in 2005-06 in key high-growth
industries.

Its revenue from government, education and healthcare surged most, by 220
per cent, from the previous fiscal year.

It was followed by communications, media and utilities (105 per cent),
supply chain management (77 per cent), customer relationship management
(77 per cent), human capital management (71 per cent), manufacturing,
retail and distribution (69 per cent), financial management (58 per cent)
and financial services (21 per cent).

(For more biz stories, please visit Industry Updates)

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Learn Chinese online

Monday, December 24, 2007

Chinese Online Class - China's Baidu to offer blog service

BIZCHINA / Top Biz News

China's Baidu to offer blog service
(Reuters)
Updated: 2006-06-29 09:22

China's Internet search leader Baidu.com Inc. plans to launch a new
service, Baidu Space, which Chinese media said would offer Web logs like
those from Microsoft and Google.

"There's a product named Baidu Space," Cynthia He, a spokeeswoman for
Baidu, said on Wednesday. "I can't describe the product or give a date
(for the launch), except that it will be very soon and we are very
excited. But we'd like to keep a little mystery for now."

Chinese media reported the service would offer Web logs, often known as
"blogs," making Baidu the latest player to jump on the domestic blogging
bandwagon.

Global giants Microsoft, Google and Yahoo Inc. already offer blogging
services in China, in a crowded sector also populated by a bevy of
homegrown players with names such as Bokee.com, Blogbus.com and
BlogCN.com.

The number of bloggers in China is expected to hit 60 million by the end
of this year and 100 million by 2007, according to a recent Xinhua
article, citing a media industry report done by prestigious Tsinghua
University.

China is the world's second biggest Internet market by users, with more
than 100 million netizens, according to the Xinhua report.

(For more biz stories, please visit Industry Updates)

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Chinese Online Class

Learn Mandarin online - China remains investors' darling

BIZCHINA / Top Biz News

China remains investors' darling
(Reuters)
Updated: 2006-06-20 08:27

China and India are the favoured markets of investors living outside
their home countries, while fears about corporate governance standards in
emerging markets have waned, according to a brokerage firm's survey on
Monday.

Some 56 percent of investors said they were confident about putting money
to work in China, up from 38 percent a year ago, while 43 percent of them
said they were confident about India, unchanged from last year, according
to a poll of 400 expatriate investors in June by Luxembourg-based
brokerage internaxx.

Concerns about lax corporate governance standards in some emerging market
economies also fell over the past 12 months, the survey found. Only 3
percent of respondents said they had concerns, down from 16 percent a
year before.

"They feel there are fewer barriers to investing ... last year people
were a bit concerned about corporate governance, such as in countries
like China ... that appears to have been lowered," Robert Glaesener,
general manager at internaxx, told Reuters.

Expatriate investors living away from their countries of origin are an
increasingly important part of the investment population and typically
take a more sophisticated and international approach to managing money,
Glaesener said.

There are about 300,000 expatriate Britons living in areas such as the
Middle East and Far East, for example, while the total number of expat
employees and investors can be counted by the millions although exact
figures are hard to pin down, he said.

Among other findings, the survey showed that 81 percent of investors
claim to have either beaten or matched performance by market indices.

Investors turned less confident about the British, U.S. and euro zone
economies as places to put money, citing ageing populations, rigid labour
laws and saturated home markets as reasons for their caution.

The most favoured sectors are energy and telecoms, while retail and
mining were the least favoured.

internaxx is a joint venture between brokerage firm TD Waterhouse and
Dutch-Belgian financial group Fortis .

(For more biz stories, please visit Industry Updates)

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Learn Mandarin online

Chinesepod - Alstom increases investment in power

BIZCHINA / Overseas Investment

Alstom increases investment in power
By Wan Zhihong (China Daily)
Updated: 2006-06-13 15:15

Alstom, the world's leading power and transport company, will increase
its presence in China's power industry by expanding its manufacturing
capacity, said Philippe Joubert, president of Alstom Power Generation.

The company has officially opened Alstom Beizhong Power Co Ltd (ABP), a
joint venture with Beijing Heavy Electric Machinery Works (BZD).

The ABP joint venture is located in the Shijingshan District of Beijing.
Investment in manufacturing facilities and equipment alone amounts to
approximately 800 million yuan (US$100 million), according to a company
statement.

"It is the largest French-invested manufacturing project in Beijing, in
which Alstom holds a 60 per cent share and BZD holds the remaining 40 per
cent," said Joubert.

Using Alstom's steam turbine and generator technology, the joint venture
will be integrated into Alstom's worldwide manufacturing network and will
foster the development of the power generation equipment manufacturing
sector in China, said the statement.

"The ABP joint venture represents a key step in extending Alstom's
industrial business in China," said Joubert. "We expect ABP will quickly
become one of our most important global manufacturing centres for steam
turbine and generator equipment, serving both the dynamic Chinese thermal
power market and the world."

The new joint venture has reached agreements with big domestic power
companies such as China Guodian Corporation and China Power Investment
Corporation to provide equipment.

"Apart from stepping up development in the thermal power sector, we will
also pay more attention to other fields such as the hydropower business
and nuclear power business," said Joubert.

The company provided power generation equipment to the Three Gorges
Project, the world's largest hydropower project.

It delivered, on schedule, the first 700 MW runner for the Three Gorges
Right Bank Power Station to China Three Gorges Project Corporation
(CTGPC).

Page: 1 2

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Chinesepod

Sunday, December 23, 2007

Chinese School - Dow invests in Yangtze River area

BIZCHINA / Overseas Investment

Dow invests in Yangtze River area
By Jiang Jingjing (China Daily)
Updated: 2006-06-07 10:38

The Dow Chemical Company is well-established in the Yangtze River Delta:
four of its seven mainland production facilities are located in the
region; a world-class research and development centre and a global
information centre will be established in Shanghai; its most important
production base in the Asia-Pacific region is in Zhangjiagang; and it
plans to invest further in the region.

"This area is strategically located for Dow in China," said Jim
McIlvenny, president of Dow Asia Pacific, stressing the two advantages of
the area proximity to its customer base and convenient transportation.

McIlvenny cited the example of Dow's Zhangjiagang plant, where the US
firm has already invested US$300 million and will bring in another US$200
million in the coming two years. Over half of its major customers for
latex, epoxy and polystyrene have their manufacturing bases within 500
kilometres of the site.

"This plant is also close to the marine jetty on the Yangtze River, which
allows the shipping of raw materials and products by barge safely and
efficiently," McIlvenny added.

Dow's other facilities in the Yangtze River Delta are located in Ningbo,
Nantong and Shanghai.

"The chemical industry is a technology-intensive industry. We look at a
host of factors such as availability of feedstock, access and proximity
to customers and marketplace, readiness and sophistication of
infrastructure, (and we) generate business costs before making a decision
to invest," McIlvenny said.

He said that the company will keep working to identify and define the
highest value growth opportunities for Dow in China for each of its
products, including ethylene and coal chemicals.

Page: 1 2

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Chinese School

Chinese Online Class - Nuke fusion reactor gives a headstart

BIZCHINA / Top Biz News

Nuke fusion reactor gives a headstart
By Wu Chong (China Daily)
Updated: 2006-06-02 08:50

A nuclear fusion device will be built in the country by the end of the
year, which will help scientists try to come to grips with the new source
of power before the rest of the world.

The device will allow Chinese scientists involved in an international
project to build a giant experimental fusion reactor in France to begin
work before the latter is ready, Minister of Science and Technology Xu
Guanhua said recently.

The Experimental Advanced Superconducting Tokamak, or EAST, will be the
first of its kind in the world and is quite similar to but much smaller
than the International Thermonuclear Experimental Reactor (ITER), which
is not expected to be fully operational for a decade.

EAST is based in Hefei, capital of East China's Anhui Province.

"Over the next 10 years, while ITER is being built, we can conduct
preliminary research on EAST to facilitate the operation and exploitation
of ITER in the future," Xu told China Daily in an interview.

EAST will be one of the two major Tokamak devices in China the other
traditional one is based in Sichuan Province.

Both facilities will contribute to ITER, the largest multinational
scientific co-operation project China has ever taken part in, said the
minister.

Last month, the government reached an agreement with the European Union,
the United States, Russia, Japan, India and South Korea, to build the
multi-billion-dollar reactor to address the world's energy crisis and
global warming.

The reactor will emulate the fusion power of the Sun, harnessing the
tremendous amounts of energy that are released when atoms fuse.

Inside the reactor, deuterium and tritium atoms will be forced together
at a temperature of 100 million C, fuse and emit blasts of energy.

It will have fusion power of about 500 megawatts.

Chinese experts are involved in 12 of ITER's programmes including
manufacturing superconductors, creating insulation to contain
super-heated plasma, and providing high-powered pulse supply units.

"Our scientific and industrial prowess in these fields will improve by
participating in these programmes, especially as they are totally new to
the world," said Xu.

"We will also take advantage of the project to foster a number of
experts in nuclear fusion for more self-reliant development."

As an equal member with the other six parties, several managers and
researchers will be deputed to ITER; and the country will have access to
all intellectual property rights of generated technologies.

Fusion power holds the key to solving projected energy shortages, with
just 1 kilogram of fusion fuel capable of creating as much power as 10
million kilograms of fossil fuel.

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Chinese Online Class

Chinese School - Fuel price hike 'not enough': Sinopec

BIZCHINA / Opinions

Fuel price hike 'not enough': Sinopec
(SD-Agencies)
Updated: 2006-05-26 13:47

China Petroleum & Chemical Corp, Asia's biggest oil refiner, said the
decision to raise fuel prices won't end a year of refining losses caused
by higher crude oil costs, according to a Shanghai Daily report Thursday.

"It's not enough yet," Chairman Chen Tonghai said at a shareholders
meeting in Beijing on Wednesday, after the government increased the price
of gasoline Tuesday by 10.6 percent, diesel by 12.3 percent and jet fuel
by 10.3 percent.

Retail gasoline prices in China have gained 18 percent this year, lagging
behind the 40 percent increase in Singapore, Asia's biggest oil-trading
center. Sinopec had a 7.88 billion yuan (US$982 million) operating loss
from refining in the first quarter because of government price controls,
designed to shield consumers and companies from rising energy costs.

PetroChina had a refining and marketing loss of 19.8 billion yuan last
year, compared with a profit of 11.9 billion yuan in 2004, the company
said March 20.

In Asia's free markets, refiners' profits from turning crude oil into
gasoline, diesel and other products rose to a nine-month high after plant
shutdowns increased demand from countries such as Australia, Japan and
Indonesia.

"The price hike is not going to completely ease our refining losses,"
Zhang Jingming, company secretary at Sinopec Shanghai Petrochemical Co,
China's largest ethylene maker, said in a telephone interview Wednesday.
"An increase of about 1,000 yuan a ton would have eased the losses."

Zhang said he expects to "eventually see domestic prices moving in line
with international levels."

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Chinese School

Chinese School - Lenovo, Microsoft forge IPR alliance

BIZCHINA / Yang Yuanqing

Lenovo, Microsoft forge IPR alliance
By Li Xing (China Daily)
Updated: 2006-04-19 06:23

REDMOND, Washington State: Black, white and blue are not the usual
colours for a ceremony to celebrate new business co-operations in China.

But these colours created a solemn ambience on Monday afternoon at
Microsoft headquarters, when senior executives from Lenovo Group Ltd and
Microsoft Corp signed what Lenovo Chairman Yang Yuanqing called "the
largest intellectual property agreement."

Under the agreement, which involves some U$1.2 billion over the next 12
months, the two companies will join hands to promote the use, and
benefits, of bona fide Microsoft software products in China, as well as
in some 65 countries and regions around the world.

In China alone, the amount will reach US$200 million.

"Today marks a new milestone in the two companies' co-operation by
extending the partnership to a global scale, as well as deepening the
level of co-operation," Yang said at the ceremony.

Microsoft and Lenovo decided to forge what is termed "the strategic
co-operation" to coincide with President Hu Jintao's official visit to
the United States, which started yesterday.

The two companies had made up their mind after a six month trial of "a
value-added software programme," under which Lenovo pre-installs genuine
Microsoft Windows operating systems on most Lenovo product lines.

"I believe that better IPR protection in China will create more
favourable conditions for China-US co-operation in the software area,"
Vice-Premier Wu Yi stated in a written speech for the ceremony.

"Working together with Microsoft, we have made it easy for our joint
customers to get the reliability, service and support only available from
genuine software, at great competitive pricing," Yang said.

"By taking the lead in providing genuine value-added software on PCs in
China, Lenovo is demonstrating foresight and wisdom as a responsible
global industry leader," said Bill Gates, chairman and chief software
architect of Microsoft.

"Microsoft commends Lenovo for recognizing the importance of intellectual
property rights and the value of genuine software. We will continue to
work with Lenovo and other industry partners to ensure that customers get
the greatest value and performance from their PCs," Bill Gates added.

The signing of the agreement has also won endorsement from the Chinese
Government.

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Chinese School

Saturday, December 22, 2007

Chinese Online Class - Oil prices hit Chinese airlines

BIZCHINA / Top Biz News

Oil prices hit Chinese airlines
(Xinhua)
Updated: 2006-05-23 09:33

Overall losses of China's civil aviation industry amounted to 1.34
billion yuan (167.5 million U.S. dollars) in the first quarter due to
surging oil prices, Shanghai Securities News reported on Monday.

Quoting a report by the General Administration of Civil Aviation of China
(CAAC), the paper said most of the country's major airlines reported
losses from January to March.

However, Shenzhen Airlines, Xiamen Airlines and Hainan Airlines said they
made profits during the three-month period.

An official with Shenzhen Airlines attributed the achievement to a series
of measures to reduce management, labor and maintenance costs.

Shanghai-based China Eastern Airlines said its economic losses came to
955 million yuan (119 million dollars) in the first quarter.

Guangdong-based China Southern Airlines said its net losses amounted to
665 million yuan, predicting the losses would continue in the second
quarter.

CAAC statistics showed the country's airlines transported 35.13 million
passengers and 749,000 tons of cargo in the first quarter, up 20 percent
and 12.5 percent respectively from the same period last year.

The industry's total revenues amounted to 47.43 billion yuan (5.9 billion
dollars), a rise of 21.5 percent year on year. Production costs rose
26.4 percent year-on-year to 48.47 billion yuan (six billion dollars).

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Chinese Online Class

Learn Chinese online - Shitouxia Key Water Control Project

BIZCHINA / Investment

Shitouxia Key Water Control Project
(qhinvest.gov.cn)
Updated: 2006-05-18 12:49

Brief Introduction

The Shitouxia key water control project is a flood diversion works of
the Yindajihuang Project which is the first water conservancy project in
Qinghai province. Also it is the ��dragon head�� regulating-and-storage
reservoir of Yindajihuang Project. Through the regulation of Shitouxia
reservoir, 0.75 billion cubic meters of water can be transferred into
Huangshui Basin each year. In addition, the project still has
comprehensive functions, including flood control, water supply,
irrigation and power generation.This project consists of four
components--water-holding structure, outlet structure, power-generating
system and diversion-spillway tunnel. The maximum height of the dam is
111.1 meters and the dam crest is 420 meters long. The total storage
capacity is 0.651 billion cubic meters. The installed capacity of the
power station is 60,000 kw.

Total Investment��million USD�� 139

Introduced Fund��million USD�� 139

Partnership

Joint venture Sole venture

Benefit Analysis

The construction of this project is to transfer 0.75 billion cubic
meters of water from Datong River into Huangshui River through the main
water-diversion canal and to provide water resource supports to promote
this region��s economic take-off, social development and ecological
environment. And it has a very important meaning to realize the benefits
that is designed for Yindajihuang Project. At the same time, the
construction of Shitouxia project has regulated function for the 8
cascade power stations, which will be constructed in its lower reaches,
plays the role of regulating-and-storage reservoir completely, and
increases the generated energy of each power station of the lower reaches.

Usage of Products

The project can transfer part water from Datong River into Huangshui
River.

Market of Products

The project will play the important role of social and ecological
benefit.

Construction Conditions

This project is located at the site of Shitouxia, the upstream of
Datong River, the Huangshui basin, Menyuan County, Haibei Prefecture. The
project geological condition is good, natural construction materials are
rich and the transportation is convenient.

Project Progressing

The feasible report has been finished.

Enterprise Description

Enterprise Address

No.18 Kunlun Road, Xining City, Qinghai Province

Legal Representative

Ma Xiaochao

Contact Unit

Preparatory Management Center for Water Conservancy Project of Qinghai
Province

Correspondent

Song Fang,. Yu Lixin

Tel 0971��6161142

Zip

810001

E-mail

Lixin.y@163.com

Fax

0971��6161147

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Chinese Online Class - Provisions For Encouragement Of Investment by Taiwan Compatriots

BIZCHINA / Policies

Provisions For Encouragement Of Investment by Taiwan Compatriots
(gxi.gov.cn)
Updated: 2006-05-17 14:53

1.Taiwan investors shall adopt the following forms of investment
according to law. (1)To initiate joint ventures and cooperatively managed
enterprises and the enterprises that all capital are invested by Taiwan
investors. (2)To develop compensation trade, processing with supplied
materials from buys, processing according to buyers' designs. (3)To buy
enterprises and companies, contracting and renting enterprises and
companies. (4)To buy stocks, bonds and other securities. (5)To invest in
the field of real estate. (6)To obtain the right to use the land for
exploitation and operation of the large piece of land. (7)the other
approved forms of investment.

2.Taiwan investors according to the state's stipulation and approved by
the pertinent authority, establish holding company, investment company,
bonded factory and bonded warehouse; They can invest exploitation and
develop resources of mine and set up commerce, insurance, banking,
information, inquiry and other tertiary industries and education health
and physical education, etc.

3.Taiwan investors are encouraged to make investment in the following
projects: (1)energy, communication and other infrastructures. (2)basic
industries and importantly raw materials industry. (3)planting forestry,
animal husbandry and aquaculture, breeding industry as well as the
construction of infrastructure in these cirdes and their professing
industry. (4)development in tourism and other tour projects. (5)Hi-Tech
projects and advanced technology projects. (6)technological innovation in
the state enterprises. (7)project of obtaining foreign exchange by
export. (8)comprehensive utilization of resources and environmental
protection. (9)other projects that are encouraged by the autonomous
region.

4.Taiwan investors could invest in energy transport, city service and
construct other infrastructure facilities. They could operate matched
projects or compensated projects with the above projects after obtaining
the approval of the state and the autonomous region's pertinent authority.

5.Taiwan investors are encouraged to invest in the following zones:
(1)minority Nationality zones and poverty zones. (2)Industrial park with
investment of Taiwan compatriots. (3)Hi-Tech estate development zones
economic and technological development zones, tourism development zones
and other development zones.

6.The legal profit, dividends, bonus dividend, liquidated capital and
other legal incomes obtained by Taiwan investors as well as wages, other
legal incomes obtained by Taiwan compatriots and employees outside China
working in enterprises inested by Taiwan compatriots, can be taken or
remitted abroad and Taiwan.

7.Taiwan investors can, in accordance with law, obtain the use right of
site, The land users who have obtained the right to use the land by the
form of assignment can, within the duration of use, transfer, lease,
mortgage on or inherit the use right.

8.Investment of Taiwan compatriots shall not be practiced by on special
conditions, when levy must be practiced in accordance with the needs of
social public interest, it should be practiced according to the
legislation procedure, and Taiwan investors should obtain corresponding
compressions.

9.In the concentrated zones of enterprises with investment of Taiwan
compatriots, an association of enterprises invested by Taiwan compatriots
can be established according to law. The association should cut in
accordance with law, decrees and the approved articles of association and
it's legal rights and interests are to be protected by law.

10.Enterprises with investment of Taiwan compatriots shall be given the
priority by the pertinent authority and unit to obtain the supplies of
water, electricity, gas, transportation and communication for their
production and operation and the charges shall be paid same as those paid
by the local collective - owned enterprises.

11.Enterprises with investment of Taiwan compatriots which conform to
estate policies of the state and the autonomous region or projects that
making investment in development of resources in poverty zones, can widen
the scales of their products on domestic market. Projects in processing
industry which materials and spare parts for their production needn't
import and the income from profits aren't remitted abroad, can
concentrate their products on domestic market.

12.Taiwan investors can invest the advanced projects in agriculture
reserve such as planting, breeding, keeping fresh and transport, and they
will be given preferential treatment to pay rent and assignment royalty
on condition that the rights to use the land are obtained by the form of
assignment and leasing. The using land that used on the construction of
infrastructure in agriculture and on comprehensive development in
agriculture in minority nationality's region, can be treated same as
agricultural using land.

13.Enterprises with investment of Taiwan compatriots which are developed
the large pieces of the state-owned barren hills and invested the land in
planting breeding and scheduled to operate for 50 years or more, will be,
approved and examined by the authority, reduction of and exemption from
the fees paid to the autonomous region according to the pertinent
regulations, except the pertinent fees for obtaining the rights to use
the land. They will be, approved and examined by authority, exempted from
agriculture tax in the first three profit-making years.

14.For the working capital and other necessary loan fund in production
and operation, enterprises with investment of Taiwan compatriots can
obtain by applying loan to financial institution of the autonomous
region. Enterprises which conform to the state's estate policy and
regulation of loan, will be given the priority by bank to obtain loan.

15.The enterprises invested with capital or equipment presented by Taiwan
compatriots to their relatives or friends on mainland, and the capital or
the value of the equipment presented accounting for more than 25% of the
total registered capital shall, confirmed by Guangxi Zhuang Autonomous
Region People's Government, the municipal people's government and Taiwan
affairs office of prefecture administration offices, enjoy the pertinent
preferential treatments formulated by Guangxi Zhuang Autonomous Region
People's Government.

16.Taiwan investors and their families or relatives, and Taiwan
compatriots working in the enterprises invested by Taiwan investors, can
enjoy the following treatments: 1.they can make applications to public
security organs to undertake <<pass concerning Taiwan inhabitants coming
to the mainland>> extended, visa for temporary resident and visa for the
entry and exit.

2.Because of the need of commercial activities, they can make
applications to public security organs to undertake pass or papers of the
People's Republic of China in order to exit and leave for other countries
and regions.

3.In the region, they can enjoy the treatments same as native inhabitants
with the certificate of Taiwan investors in the field of riding,
purchasing commercial buildings, leasing housing, shopping, getting
accommodation, going to a doctor, visit and tour, installing private
telephone and children for going to nursery and school, unless otherwise
set forth in the law.

4.With the efficient drive license of motor vehicle attained from Taiwan,
they can obtain the drive license of motor vehicle of People's Republic
of China after passing the examination.

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Chinese Online Class

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