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October 2005
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| CHINA
BY THE NUMBERS |
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| CHINA
BUSINESS HEADLINES |
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| QUOTES
OF THE MONTH |
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"China Internet growth is interesting because of (the popularity of) SMS and
because of online gaming. I don't believe SMS will save the Chinese economy, I
don't believe online gaming will change the China economy, but e-commerce, I
believe will. E-commerce for the small to medium sized companies, e-commerce for
Chinese companies to export overseas, e-commerce (for) helping foreign companies
come to China -- that will be the future, that will be the chance to change the
economy and change the fate of the economy. So I think this is the value I want
to create for the small to medium sized companies in China, in the world, to
give them more opportunities." Said Jack Ma, the founder of Alibaba.com, an
e-commerce auction site that pitches made-in-China goods to a global market.
[More]
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| DID
YOU KNOW? |
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China's Eating Out Bill: $98.6 Billion
Chinese people annually spend $98.6 billion at restaurants, or 900 times the
cost of China's recent second manned space mission, it was revealed at a
national chef's festival held in central China's Wuhan city...
[More]
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| COMPANY
IN ACTION |
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Open Up to Us, US Urges China
The United States has stepped up pressure on China to adopt broad economic
changes in a bid to slow Beijing's huge trade surplus with the US. The move is
the latest in a series of actions by the Bush administration to preempt a threat
by US lawmakers to confront China over trade. The administration argues that
protectionism against China could equally harm US companies that depend in many
respects on open economies abroad, and do an increasing amount of business with
China...
[More]
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Ford Ups Production Capacity In China
Changan Ford Automobile Co., Ltd. (Changan Ford), a Ford Motor Company joint
venture in China, held a ceremony today in its Chongqing assembly plant to mark
the completion of a major expansion program. The expansion program, which has
increased annual production capacity to 150,000 units, includes a new stamping
plant, engine plant and assembly plant. This achievement represents another
milestone for Ford Motor Company in line with an expansion plan announced two
years ago...
[More]
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AT&T To Expand Presence In China
The Chinese telecom market full of business opportunities occupies an important
place in AT&T's global strategy, said Steve Lowe, president of AT&T Business,
Asia Pacific. In an interview with reporters, Steve Lowe said AT&T would do its
best to develop the rising market with huge potential in China...
[More]
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Yahoo, Alibaba.com Join in China Internet
Yahoo! said Monday it has joined forces with China's Alibaba.com to create an
Internet company. "Through this strategic partnership, we will combine the best
of commerce, search, communications, and online advertising capabilities in new
ways for Chinese consumers and businesses, under the management of a strong
local team," Yahoo! Chairman Terry Semel said in a news release...
[More]
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US Internet Search Giant Google Adds to China Team
Google increased its focus on China by hiring a sales veteran to lead the US
Internet search powerhouse's marketing strategy in that country, the company
announced. Johnny Chou will "establish and lead Google's sales and business
development operations in Greater China," the Silicon Valley company said in a
written release...
[More]
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| MAGNIFYING
GLASS |
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Betting On China's Banks
Never accuse the Chinese of thinking small. The global public offering in late
October of China Construction Bank, the mainland's third-largest bank, is set to
raise a head-turning $8 billion on Oct. 27 -- the biggest IPO on the planet this
year, and the biggest anywhere since Kraft Foods went public...
[More] |
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