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July 2003
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| CHINA
BY THE NUMBERS |
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Industry Profits Jump 57%
(July 25, 2003) China's industrial companies earned profits of 363.8 billion
yuan (US$43.8 billion) during the first half of this year, an increase of 131.7
billion yuan (US$15.9 billion) or 56.7 per cent compared with a year ago...
[More]
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Urban People's Income Up 9% in First Half of 2003
(July 31,2003) The income of Chinese people in cities increased by 9 per cent in
the first half of this year, but there was a remarkable fluctuation in
consumption due to the SARS...
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| CHINA
BUSINESS HEADLINES |
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IC Consumption to Grow at 20 Percent Annually
(July 18, 2003) The Chinese mainland's demand for integrated circuit (IC)
technology is expected to grow at 20.3 percent annually between 2003 and 2005...
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HR service market: a big cake
(July 25, 2003) Headhunting companies grow fast, face bright future in China.
Despite being quite a new phenomenon in China, the human resource (HR) service
market is developing rapidly. The first group of HR service companies, in the
1990s, were all foreign ventures brought by their key accounts to China...
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China to Further Relax Restrictions on Foreign Investors' Procurement
(July 31, 2003) China is to execute a policy which further relaxes the
restrictions on foreign investors' export procurement in China, permits foreign
investors to set up solely funded export procurement centers in some areas to
engage in the business of procurement of China-made products for export, and
related matching services...
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China's Money Supply Growth at High Level
(July 14, 2003) In the first half of this year, the growth of China's money
supply remained at a comparatively high level...
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State-owned Hospitals in China to Embrace Market
(July 31, 2003) More State-owned hospitals in China are to lose their
government support and will have to adapt to the market as the country's
entire health service undergoes inevitable reform...
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| QUOTES
OF THE MONTH |
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"The Chinese consumer needs to come to life, though this is still several years
off. When this happens, China will become a genuine source of international
growth," said Stephen Roach, chief economist for Morgan Stanley...
[More]
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| DID
YOU KNOW? |
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Dragon Dance
Dragon dances are the most spectacular dances performed at New year. Chinese
consider dragons to be friendly and helpful creatures associated with strength,
good fortune, wisdom and longevity...
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| COMPANY
IN ACTION |
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Foreign Investment Flows Into China after SARS Crisis
(July 13, 2003) The epidemic of severe acute respiratory syndrome (SARS) has
not affected foreign investors' confidence in China's economic future as a
host of new foreign investment plans take shape...
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Wal-Mart Opens First Sam's Club in Beijing
(July 11, 2003) Wal-Mart Stores Inc., the world largest retailer, opened its
first Sam's Club in Beijing...
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Starbucks Opens 1,000th Cafe in Asia-Pacific Region
(July 17, 2003) Starbucks, the best-known international coffee retailer from the
United States, opened a new outlet Wednesday in Beijing, marking its 1,000th
shop in the whole Asia-Pacific Region...
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Omron's China Procurement Center Set up in Shenzhen
(July 25, 2003) Upbeat about the industrial matching capacity and products'
quality of suppliers in Shenzhen, world prestigious industrial automatics
control and electronic equipment manufacturer Omron set up its China procurement
center in Shenzhen recently. The center comes in the wake of the establishment
in Shenzhen of the electronic business group, with Omron 's largest investment
across the world...
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UPS to Move Its Regional Headquarters to Shanghai
(July 4, 2003) United Parcel Service (UPS) of America, one of the world's top
500 companies, will move its regional headquarters from Hong Kong to Shanghai...
[More]
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| MAGNIFYING
GLASS |
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China Bright Spot in Global Economic Gloom
China is a bright spot in a picture of overall global economic gloom, with
Europe and Japan in trouble and the US upturn threatening not to materialize,
Stephen Roach, chief economist for Morgan Stanley, said in Beijing...
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