China - Hubei Yiba Highway Project
juillet 31, 2008
Video: Sneak Preview of Beijing Olympics Opening Ceremony
juillet 31, 2008
China, the Olympics and the Visa Mystery
juillet 31, 2008
US senator says Beijing hotels told to monitor internet
juillet 31, 2008
Foreign-owned hotels in China face "severe retaliation" if they refuse to install government software that can spy on internet use by hotel guests during the Olympics, AP quoted a US lawmaker as saying. Republican Senator Sam Brownback of Kansas produced a document from China's Public Security Bureau that requires hotels to use the monitoring equipment. A spokesman for the Chinese embassy in Washington did not immediately respond to a request for comment. Brownback said several international hotel chains confirmed receiving the order, and that the hotels are in a bind, as they do not want to comply with the order but also do not want to jeopardize their investments and potential expansion plans in China. Earlier this year, the US State Department warned travelers attending the Olympic Games that "All hotel rooms and offices are considered to be subject to on-site or remote technical monitoring at all times." Read more
Sohu.com spinning off games unit in US listing
juillet 31, 2008
Sohu.com plans to list its games business in the US, the South China Morning Post reported. The Beijing-based company, mainland China's second-largest online portal, reported a sevenfold increase in second-quarter profits. Sohu's soaring sales of online games and advertising reflect the surge in the mainland internet industry. The US company will be named Changyou.com and focus on online games. Sohu will remain Changyou's majority shareholder. Other details of the share sale plan were not disclosed. Online games account for 47% of Sohu's total revenue. Most of that comes from TLBB, a multi-player online role-playing game based on a Chinese martial-arts novel. Sohu's total online game revenue reached US$47.9 million in the second quarter, up 11.5 times from the same period last year, and TLBB accounted for US$45.5 million. Read more
Antitrust laws could hurt mergers
juillet 31, 2008
China's new anti-competition law could delay mergers and acquisitions, lawyers and business executives told the Financial Times. The laws take effect in China on Friday and India later this year. In China, companies will have to notify Chinese enforcement agencies about any planned M&A deals that meet certain thresholds – then get approval before completing the deal. China and India are implementing laws based on the EU model, covering anti-competitive agreements. The potential effect on M&A is causing concern among multinational companies. Lawyers and business executives believe China's thresholds for merger filings are too low, and will likely ensnare global deals that will have little effect on competition locally. They also fear enforcement agencies in each country will lack the resources and expertise to deal quickly with complex merger cases. In China, deals involving companies with a combined global turnover of US$1.5 billion – and where at least two of the parties each have turnover in China of US$60 million – are likely to have to file for approval. Read more
Report: Capital shortages top risk for SOEs
juillet 31, 2008
A government report says lack of capital is the biggest risk facing China's state-owned enterprises, state media reported. The report comes from the State-owned Assets Supervision and Administration Commission of the State Council. A lack of capital has worried most SOEs, especially those in the electricity, petroleum, steel, investment, energy and real estate sectors. One expert involved with the report attributed the shortage of funds to the tightening of credit, material price hikes and reckless expansion. The rapid expansion of some SOEs is believed to have resulted in capital scarcity, as tightening of monetary policies and bank loans have failed to slow mergers and acquisitions. Read more
P&G raises China prices by up to 10%
juillet 31, 2008
Procter & Gamble will raise prices for its products by as much as 10% in China, a spokesman for P&G China said, state media reported. P&G, the world's leading household commodities producer, said soaring raw-material costs led the company to raise the prices of Pampers, a disposable diaper brand and Whisper, a sanitary napkin brand, by 10% from the end of July. Prices of water-absorbent material and pulp, the main substances needed for diapers and sanitary napkins, increased by 50% in the past year. The price of raw materials such as palm oil, coconut oil and animal fats has increased by 150-160% in the past two years, according to the spokesman. The spokesman said the price rise was part of the company's global strategy, previously announced to boost prices worldwide by up to 16% in the middle of July. Read more
China hikes small-firm aid 25%
juillet 31, 2008
China's Ministry of Finance (MOF) said Tuesday that it will spend US$513 million this year to help smaller companies that are having difficulties amid economic restructuring, state media reported. The allocation will be 25% more than last year's. Small and medium-sized enterprises are important to the economy and job creation. However, many are having financial difficulties as a result of domestic tightening policies and a slowdown in export orders. SMEs were one priority mentioned during the recent Communist Party of China Political Bureau meeting to outline second-half strategies. The ministry said it hoped to improve fiscal and tax policies that affect SMEs, to support their technical innovation and help them upgrade their product mix. An innovation fund for high-tech SMEs would be increased 27.3% from last year, the MOF said. Read more
WTO talks collapse over import rules
juillet 31, 2008
A disagreement between the United States, India and China over farm import rules caused trade talks to collapse on Tuesday, CBC News reported. The failure of the discussions between seven major trading powers likely signals the end to efforts by the WTO to reach an overall global trade pact. There have been continual disagreements between Western nations and emerging economic powers, including India and China, over manufacturing and agricultural rules. In mid-July, trade officials from a smaller group of countries began meeting in an effort to get the large WTO talks back on track. This most recent setback, however, could mean the larger negotiations will also fail, a senior source told AP. The US and the EU seek reduced tariffs on manufactured products and fewer restrictions on farm trade. India and China want emergency powers that would allow them to protect domestic farmers against imports from other countries. Read more
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