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March 2005
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| CHINA
BY THE NUMBERS |
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China Cenbank Mops up $3.6 Bln via Short-term Bills
China's central bank drained 30 billion yuan ($3.63 billion) from the banking
system on Thursday, down a quarter from last week. The People's Bank of China
sold 20 billion yuan in three-year bills with a coupon standing steady at 3.30
percent, according to a filing on the official Web site for bond issues...
[More]
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Non-ferrous Metal Output Climbs 16.4%
China's output of major non-ferrous metals climbed 16.4 per cent last year from
2003 thanks to strong demand in the domestic and overseas markets, according to
an industry organization...
[More]
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| CHINA
BUSINESS HEADLINES |
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Resources Boom Set to Continue in China
China may be coming off the boil but it is still the hottest thing in the
resources kitchen. The awakening economic dragon's voracious appetite for raw
materials to fuel its rapid industrialization has returned commodity prices to
levels not seen in years...
[More]
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China to be Worlds Top Outsourcing Destination
Three-quarters of US companies outsourced some or all of their information
technology activities in 2004. And that percentage is likely to increase this
year, according to a special survey on outsourcing and offshoring...
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China's Trust Sector Seeks Foreign Investments
China's trust and investment companies feel encouraged by industry regulators'
new policy stimulus aimed at attracting foreign strategic investors. Even so,
the sector's rejuvenation is expected to take some time...
[More]
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China Broadband Market Keeps Robust Growth
In recent years, China's broadband access market has been maintaining robust
growth, and the country had turned to be the largest market for broadband
service with more than 20 million broadband users by 2004...
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Chinese Online Gamer Stabbed for Selling Virtual Sword
A Shanghai online game player stabbed to death a competitor who sold his
cyber-sword, the China Daily said yesterday, creating a dilemma in China where
no law exists for the ownership of virtual weapons...
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| QUOTES
OF THE MONTH |
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"There is just so much to learn about this vast country... particularly for
CEOs. Coming to a country with such a long history, a vast size, and huge
population is very different from anything else. You have to learn local
cultures, languages and practices...You can never learn enough about China."
said Peter Bowie, CEO of Deloitte China...
[More]
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| DID
YOU KNOW? |
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Skilled Senior Managers Hard to Find in China
China is scouring the world for supplies of oil, steel and whatever else it
takes to feed its ever-expanding economy, but the last thing you would expect
the country to need is more people. Think again, say human resource managers at
multinational companies. In the world's most populous country, good engineers
and qualified senior managers are in such short supply that their salaries are
increasing at double-digit rates every year...
[More]
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| COMPANY
IN ACTION |
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Intel Opens Fifth Chip-Making Factory in China
Intel will be opening a fifth factory in China for assembling and testing
computer chips, the company announced...
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Dell to Double North Asia Capacity at China Plant
Dell Inc., the world's largest PC maker, said on Thursday it will build a new
plant in the southern Chinese city of Xiamen, doubling capacity at its main
complex serving its north Asia region...
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Lenovo OKs $350 Mln Private Equity Deal
Three U.S. private equity firms have agreed to invest $350 million in Lenovo
Group Ltd., the top Chinese computer maker that is buying IBM's personal
computer business, the parties confirmed on Wednesday...
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Oracle Considers Acquisitions in India, China
Oracle Corp., the world's number-two software firm, grew Asia-Pacific revenue
13 percent in its third quarter and said on Wednesday it would not rule out
buying a local player in China or India to expand its slice of those markets...
[More]
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China Telecom Giant Targets North American Market
Chinese telecommunications equipment giant Huawei Technologies Co. Ltd. is
seeking to move into the North American market through alliances with North
American vendors, possibly including Lucent and Nortel, according to a report in
the Beijing-based China Daily...
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| MAGNIFYING
GLASS |
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Beware Of Hot Money
How frothy is Shanghai's property market? Well, consider this: New
hundred-square-meter apartments in posh sections of Shanghai have doubled in
value, to $550,000, since 2003. High-end properties in the Chinese megalopolis
have shot up 20% during the past three months alone. It's not just Shanghai. UBS
Securities says overall urban land and property prices in China last year were
up 70% over 2001. Hong Kong and Taiwan-based investors have been snapping up
flats in China for years, but new money is flooding in from Japan, Korea, and
Europe, says Clement Luk, a director with Centaline (China) Property Consultants
in Shanghai. "It really is crazy," he says....
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