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June 2005
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| CHINA
BY THE NUMBERS |
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China's Internet Users Top 100 Million
China's population of Internet users has surpassed 100 million, the government
said Tuesday...
[More]
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China Makes Nine Out of 10 DVD Players
China makes 90 percent of the DVD machines sold worldwide now, and the country
produced 92 million players and recorders last year -- an 8 percent increase
from 2003, the media firm Global Sources said Friday in a new industry report...
[More]
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| CHINA
BUSINESS HEADLINES |
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Ready for Chinese Merger Mania?
No longer content to serve simply as a cheap source of manufacturing, China's
big corporations are using their financial muscle to acquire assets around the
world. On June 22, China National Offshore Oil (CNOOC) offered $18.5 billion in
cash for oil and gas giant Unocal, besting an offer from Chevron. That very day,
China's largest appliance maker, Haier Group, offered $1.28 billion for Maytag,
topping a bid from Ripplewood Holdings...
[More]
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China's Rising Star Challenges America
Behind the headlines over the past week about big Chinese bids for American
companies and China's debut as a car exporter lies a much broader challenge to a
half-century of American economic and political ascendance, a challenge that
goes beyond the one that came from Japan nearly a generation ago...
[More]
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Eye on China: One Currency, Two Views
The single greatest issue facing anybody trading or investing in China now is
whether the decade-long link between the US dollar and the yuan will be
dismantled...
[More]
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China Both Consumer, Competitor
China's ravenous appetite for steel has more than tripled selling prices,
turning gluts into shortages. Soaring demand is straining supplies of coal and
iron ore and raising worries among steel companies worldwide over how serious
and fair a competitor China will be in the new global market...
[More]
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China Plans $39bn Olympic Spend
China plans to spend almost 320bn yuan ($39bn) on its infrastructure in
preparation for the 2008 Olympic Games, the Xinhua state news agency has said...
[More]
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| QUOTES
OF THE MONTH |
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"CHINA is a sickly, sleeping giant. But when she awakes, the world will
tremble." -- Napoleon
[More]
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| DID
YOU KNOW? |
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Education Gap Overtakes Economic Disparity
According to research reported by China Youth Daily on June 26, the education
gap between urban and rural areas is increasing even faster than differences in
economic development, despite central government efforts...
[More]
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| COMPANY
IN ACTION |
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Oil-Thirsty China Reaches for Unocal
The Middle Kingdom's thirst for energy reached a new stage on June 23 amid news
that China's state-owned oil outfit, CNOOC, has made an unsolicited $18.5
billion bid for Unocal, the seventh-largest U.S. oil company. Unocal is
currently in the last stages of an agreed $17 billion takeover by Chevron...
[More]
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Bank of America Buys Stake in China Bank
Bank of America Corp. will take a stake of about 9 percent in the state-owned
China Construction Bank, becoming the latest international lender to grab a
strategic shareholding in China's banking market...
[More]
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Intel Sets up $200m China Venture Fund
Starbucks Corp. expects tea powerhouse China to eventually become the coffee
chain's second-biggest market after the United States...
[More]
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Google Gets Nod to Set up Branch in China
Multinationals are rethinking their Chinese strategies as the country shifts
from being a manufacturing powerhouse to a consumer-driven nation...
[More]
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Western Hotel Chains Build on China's Change
U.S. and other Western hotel companies are expanding rapidly in China, as the
country emerges as an economic superpower and prepares for the 2008 Olympics...
[More]
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| MAGNIFYING
GLASS |
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Play Fair -- And Insist That China Do The Same
With crude oil hovering around $60 a barrel due in part to China's growing
appetite for oil, natural gas, and gasoline, it's no surprise that Beijing is
shopping for energy resources. Still, the $18.5 billion cash bid by CNOOC Ltd.,
an energy company 70% owned by the Chinese government, for Unocal Corp., based
in El Segundo, has raised alarms in Washington and calls for President George W.
Bush to intervene on national security grounds...
[More] |
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