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December 2003
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| CHINA
BY THE NUMBERS |
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China's Electronic, IT Exports Tipped Up 41.2% In 2003
(December 5, 2003) Exports of Chinese made electronic and information technology
products are expected to rise 41.2% year on year to $130 billion in 2003, the
state-run Xinhua News Agency reported Friday, citing official figures...
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One out of Five Chinese Has a Mobile Phone
(December 7, 2003) By October China's cellular phone popularity had reached an
average of 19.5 sets for each 100 people, and in urban areas the rate has
surpassed 40 sets per hundred...
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| CHINA
BUSINESS HEADLINES |
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China: Economic Threat and Potential Market
(November 28, 2003) Americans have long been mesmerized by the promise of what
1.3 billion Chinese consumers might buy. But now, Americans seem preoccupied by
a darker image: the threat of what all those industrious Chinese workers might
produce...
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China to Become World's Fourth Largest Trading Nation This Year
(December 5, 2003) China is set to become the world's fourth largest trading
nation this year, behind only the United States, Japan and Germany, state media
said...
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China's Insurance Market Growing Rapidly, But Long Way From Maturity
(December 14, 2003) China's insurance market, which is only about 10 years old,
is witnessing fast growth driven largely by the lack of a social safety net in
the country, but the market has a long way to go before reaching maturity,
analysts said...
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Haier Ranked the Most Valuable Chinese Brand
(December 6, 2003) Some local brands have grown in popularity to lead their
respective industries and outshine other brands in the same sector, according to
a brand value report released Friday. Haier, the Chinese appliance giant and
valued at 53 billion yuan (US$6.4 billion), was ranked the most valuable Chinese
brand in an annual report released by the Beijing Famous-Brand Evaluation Co Ltd...
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China's Software Industry Catching up
(October 15, 2003) China's software outsourcing industry is expected to shorten
its gap with India in about three years with the advantage of a huge
domestic market and a rich talent pool...
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| QUOTES
OF THE MONTH |
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"All the world's automakers are moving into the Chinese market, and the
competition is intensifying," said Honda chief executive Takeo Fukui.
[More]
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| DID
YOU KNOW? |
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Chinese Dance Culture
Chinese dance has its own unique vocabulary, semantics, and syntactic that
enable a dancer on stage to fully express her thought and feeling with ease and
grace. The art of Chinese dance traces its origins to even before the appearance
of the first written Chinese characters...
[More]
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| COMPANY
IN ACTION |
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Merrill to Set Up Joint Venture in China
(December 10, 2003) Expanding its efforts in China, Wall Street brokerage
Merrill Lynch & Co. said on Wednesday it received approval from Chinese
regulators to establish a money-management joint venture with Bank of China
International...
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J.P. Morgan to Build Petrochemical Wharf at Lower Yangtze River
(December 3, 2003) US giant J.P. Morgan, one of the world's top 500 companies,
signed a contract recently on the investment of 130 million US dollars in
building a wharf for storage of petrochemicals at the lower Yangtze River...
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IDG Prospers in China Tech
(December 3, 2003) Yahoo! Inc.'s recent purchase of China's biggest search
engine company underlines the success that International Data Group has enjoyed
in China...
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AMD, Founder to Open China Design Lab
(December 11, 2003) Advanced Micro Devices (AMD) is setting up a design
center with Founder Group, a Chinese PC manufacturer, that will focus on
integrating AMD's processors into information appliances, it said Wednesday...
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US Cheesemakers Seek Slice of Market in China
(November 25, 2003) Cheesemakers, no longer satisfied with selling cheese to
pizza restaurants, are reaching out to Chinese retailers and consumers...
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| MAGNIFYING
GLASS |
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Self-Inflicted China Syndrome
The good news of a strong economic recovery in the third quarter wasn't enough
to prevent U.S. authorities from again capitulating to domestic protectionists'
demands and imposing import quotas on some Chinese textiles last month. Although
this move directly affects a very minor portion of the U.S.-China trade, it
shouldn't be taken lightly. It could give further momentum to recent unwarranted
China bashing: that China is an unfair competitor and is the chief cause of job
losses in the U.S. The Bush Administration's decision has opened the gates, and
it's only a matter of time before the White House is inundated with demands from
other interest groups that want their piece of the protectionist pie. This
situation could become very destructive if Chinese authorities give in to the
temptation of squaring off in a trade war. Before it's too late, it's imperative
that the U.S. stop using China's export vigor to exorcise its external
imbalances...
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