China Economy Forum

[shuttler]

Contractors land more deals

Updated: 2012-11-24 09:18 By Bao Chang ( China Daily)

Chinadaily

But risks loom in developed markets due to economic woes, protectionism

Chinese offshore contractors have landed more deals in developed economies as part of efforts to enhance their global presence, China International Contractors Association said on

In the first three quarters of this year, Chinese contractors' share of traditional markets in Asia and Africa has declined, while their growth has picked up in medium- and high-end markets in Europe and the Americas.

Contracts signed in Europe reached $6.56 billion in the first three quarters, up 17.4 percent year-on-year, while the figure was $10.9 billion in Latin America, a year-on-year increase of 43.3 percent, according to the association.

Countries including Germany, Sweden and the United Kingdom have also become more active in inviting Chinese contractors to construct large-scale infrastructure projects.

"Chinese contractors will undoubtedly get a foothold in high-end construction markets in developed economies," said Wang Xiaoguang, director-general of the overseas department of China Communications Construction Co Ltd.

"However, within a short time, Chinese construction enterprises' market share in developed economies won't see obvious growth due to fiscal restraints in the US and Europe and protectionism," Wang said.

Diao Chunhe, director of the association, said at the annual session of its council on Friday that China's construction contractors are set to face bigger risks in their overseas business next year, as they enter more developed markets.

"In 2013, China's offshore contractors may face quite a number of challenges from the deteriorating business environment abroad, as well as rising protectionism and competition from Japan and South Korea," said Diao.

The association is a government-backed organization under the Ministry of Commerce, which makes policies, provides services and conveys proposals from its members to the government on behalf of Chinese international contractors.

The sluggish global economy has resulted in the revival of protectionism globally. In overseas markets, some anti-dumping investigations and unreasonable environmental standards targeting Chinese contractors have hurt Chinese companies' overseas development, according to Diao.

"More risks will come from advanced markets next year," Diao said.

From October 2011 to May 2012, World Trade Organization members implemented 182 trade restricting measures, influencing 0.9 percent of the value of global imports, according to the WTO.

Some countries are not enthusiastic with regard to foreign participation in their emerging industries.

"As host governments tend to offer opportunities to local contractors in a move to protect local industry, China's overall offshore construction business is set to slow down in the coming year," Wang added.

Li Jiqin, general manager of the overseas business department of China State Construction, another major player in the industry, said that it is confronting a bottleneck in the US market. Some US government officials and companies are biased against Chinese contractors, he said.

"It's becoming more difficult for Chinese contractors to expand in the high-end building market of developed economies," said Li, adding that China's merger and acquisition activities in the US construction industry are blocked by protectionism, which cites "state security", resulting in a series of policy and legal restrictions for Chinese contractors.

CSC has been expanding in the US since 1985 when the company established its first subsidiary in the country. Over the past decade, the US subsidiary has maintained annual growth of more than 40 percent. As an influential building company in the US, it generates revenue of $700 million annually and more than 95 percent of its 1,500-strong workforce are local hires.

From January to October, China's overseas construction contracting sector registered revenues of $87.06 billion, an increase of 14.4 percent year-on-year.

baochang@chinadaily.com.cn

 

[shuttler]

Wenzhou unveils financial reform details

Updated: 2012-11-23 23:43 By Yu Ran in Shanghai ( China Daily)

Chinadaily

Specifics of China's pilot financial service reform were released on Friday as the first bond issuance by a loan company in Wenzhou, Zhejiang province, proved successful.

The new policies focus on bond financing for legally registered small loan companies.

Announced by the Wenzhou government, the policies are designed to govern the operation of the city's private lending registration service center, small and medium-size enterprise financing service center, and other financial facilities.

"We are planning to launch the private lending service center by introducing authorized agencies for lending registration, contract notarization and assets appraisal registration," said Zhang Zhenyu, director of the city's financial office.

In addition, he said, Wenzhou is about to introduce its index for private lending as early as late this month, to be accompanied by publicly available information updates and risk warnings.

Wenzhou, which boasts one of the densest clusters of private enterprises in China, was selected for the pilot reform after a local financial crisis featuring widespread factory closures because of dwindling orders from overseas and rising interest services charged by underground lenders.

The reform is aimed at building the city into a prosperous but well-regulated financial service center capable of meeting the needs of local entrepreneurs.

Central government officials expect the Wenzhou reform to serve as an example for similar changes that they may recommend across the nation.

"We have noticed that private lenders are totally inadequate in meeting the huge demand from our local businesses while the State-owned banks that used to offer larger loans also have difficulty coming up with the right solutions," Zhang said.

Some 30 small loan companies have already registered with the government since March, with total registered capital of more than 8 billion yuan ($1.28 billion), he said.

To supply SMEs with innovative financial products, the new regulations promise that all kinds of bonds and securities will soon be introduced to the city's financial market.

"The local private loan companies are encouraged to develop trial services to process the private placement of SME bonds, and the exchange in shares of non-listed companies," Zhang said.

The city aims to have more than 30 listed companies in 2015 and another 50 ready for the initial public offerings. It will welcome more securities companies to set up branches.

Zhang also pledged the government's encouragement of direct investment overseas by local individuals.

Zhou Dewen, chairman of the Wenzhou SME Development Association, pointed out that the new regulations contain innovations for local enterprises' direct financing and loan terms.

"There are more options for SMEs to access loans and take part in the city's development by investing in a larger variety of business areas," he said.

However, there is no major breakthrough on whether to allow the establishment of private banks and more flexible interest rates. Short of these, he said, "our financial reform still seems to have a long way to go".

Wang Jianye, chief economist at the Export-Import Bank of China, said new rules do show major progress by putting the private lending in the spotlight.

But Wang said that the reform has still not fundamentally transformed the local financial system.

Unless that is done, there will not be an effective solution to the problem of rampant underground lending, Wang said.

Wang Xiaotian in Beijing contributed to this story.

 

[Zheng He]

Financial reform is big news. It should be accelerated to the whole nation.

 

[cirr]

(Xinhua)

08:28, November 26, 2012

BEIJING, Nov. 25 (Xinhua) -- China's economic growth will pick up in the fourth quarter after slowing for seven consecutive quarters, due to booming domestic consumption and increasing infrastructure investment, according to a report released Sunday.

The economy is expected to grow by 8.4 percent year on year in the October-December period, up from the 7.4-percent growth seen in the third quarter, the lowest level since the first quarter of 2009, according to the report released by the Institute of Economic Research of Renmin University of China.

The report also forecast that the full-year economic growth will reach 8 percent in 2012, down 1.3 percentage points from 2011.

Liu Yuanchun, deputy director of the institute, said the country's current economic slowdown is different from the financial crises seen in the 1997-1998 and 2008-2009 periods, as there are no signs of mass unemployment nor deflation although the economic growth has fallen for consecutive months.

Liu said he expects the country's economy to expand quarter on quarter in 2013 and that the real economic growth will likely reach 9.3 percent year on year.

The report also suggested that the country maintain relatively loose macroeconomic policies in the near-term, urging breakthrough reforms in key sectors including income distribution and property industry.

China's economy to expand by 8.4% in Q4: report - People's Daily Online

 

[Sasquatch]

There is a thread for China's economic news post it there otherwise wasting space.

Thread moved.

 

[Chinese-Dragon]

Wow, way above target.

Our official growth target was 7.5%.

 

[cirr]

Japanese car manufacturers go home. You are neither wanted nor needed in China。

Audi planning $3.9 billion investment in next 5 years

Updated: 2012-11-26 07:56

By Gong Zhengzheng ( China Daily)

Dominique Boesch (middle), general manager of the Audi sales division at FAW Volkswagen, and Ge Shuwen (left), executive deputy general manager of the Audi sales division, on stage with the new locally made Q3 at the ongoing Guangzhou auto show. Provided to China Daily

Audi AG will continue to invest heavily in China to produce new models in its biggest market globally, said Wolfgang Duerheimer, the company's new board member for technical development.

In a recent interview, Duerheimer said the luxury carmaker plans to spend 3 billion euros ($3.9 billion) to develop, produce and sell new products in China over the next five years.

The new investment will help the brand boost its China production to 700,000 cars a year "quickly", Duerheimer said without providing a timetable.

Audi's China sales soared by 31.6 percent year-on-year to 330,582 units in the first 10 months of this year, surpassing its delivery in the country for all of last year.

Audi now runs a joint venture in China with its parent Volkswagen Group and local partner FAW Corp. The tie-up builds the Audi A6L, A4L and Q5 SUV as well as a slew of Volkswagen models in northeastern city of Changchun. It is also building a new plant for both Audi and Volkswagen cars in Foshan in the south.

Duerheimer said Audi and the joint venture will strengthen collaboration on new technology and product development including petrol-electric hybrids, plug-in hybrids and fully electric vehicles.

Audi will also bring high-performance diesel-powered models to China, he said.

Dominique Boesch, general manager of the joint venture's Audi sales division, said at the ongoing Guangzhou motor show that China's share of the brand's global sales will continue to grow from the current level of 27 percent through the new product offensive.

Audi will continue to strengthen all-round localization to cement its two-decade leadership in China's luxury car market, Boesch said, adding that the brand's future products for China will embody the strategy.

Audi is exhibiting 19 models at the Guangzhou motor show, with the highlight on its China-made Q3 compact SUV. The model will hit the market next year.

gongzhengzheng@chinadaily.com.cn

Audi planning $3.9 billion investment in next 5 years |Motoring |chinadaily.com.cn

 

[cirr]

Volkswagen to invest 14B euros in China to 2016

Friday, 23 November, 2012, 12:43pm

Reuters in Beijing

Thorsten Jaede, Managing Director of Volkswagen Hong Kong poses pictures at their new car launching ceremony in Waichai on August 13, 2012. Photo: Edward Wong

Volkswagen AG plans to invest 14 billion euros (US$18 billion) in China over the next four years, its China chief was quoted by the China Daily newspaper as saying, as it speeds up its expansion in the world’s largest car market.

Volkswagen, which produces cars in China in partnership with SAIC Motor Corporation and FAW Group, is building four plants in the country, the newspaper said, citing the German car maker’s China chief Jochem Heizmann.

Volkswagen sold two million cars in China in January-September, up 18.3 per cent and more than double the overall industry growth.

By 2018, Volkswagen’s China annual capacity will reach at least four million vehicles, Heizmann told the China Daily, adding the group’s workforce, including those at joint ventures, would rise to 85,000 within 3-5 years from 50,000 now. Heizmann was at the Guangzhou carshow on Thursday.

The German carmaker will also build plug-in hybrid cars in China within 2-3 years and make plug-in hybrid powertrains, he added. Encouraged by Beijing’s initiative to put five million electric and plug-in hybrids on the road by 2020, foreign carmakers are gearing up to tap the potential for green cars in China.

General Motors, which already sells its plug-in hybrid Chevrolet Volt in China, this week rolled out its first China-developed electric car, the Sail Springo EV. Nissan Motor Company is also promoting its Leaf electric car with local governments and will expand the effort to include its Venucia e30 China-only electric car - made at its joint venture with Dongfeng Automobile Company - next year.

Globally, Volkswagen, jostling with Toyota Motor as the world’s number-one car maker, is expected to increase spending by 12 per cent to as much as 70 billion euros for its 12 brands over the next five years, compared with 62.4 billion euros for 2012-16 agreed a year ago, analysts have said.

That would be a record, but also represent a slowdown. The 62.4 billion euro target was more than a fifth higher than over the 2011-15 period.

Volkswagen to invest 14b euros in China to 2016 | South China Morning Post

 

[Audio]

you are comparing apple with orange

and the above analysis @ post #1596 hasnt compared the repair and maintennace costs of the 2 different cars. The maintenance of a gas engine car which includes routine oil changes, spark plugs, all the filters, coollant, fan belt ..and the related spare parts will ask for more in than an EV.

If you still cannot see the EV advantage, read these:

electric-vs-gasoline-vehicle/

popularmechanics

EV has its own disadvantages but not in the point you've mentioned

wow, still you are here with this. Dude i dont need links....i know about economy, im talking about everything else...the feel, the drive, the space, usefulness etc...all very strong factors when deciding on buying a car. And that 40k $ Golf flops in every category but economy.
Do you understand me now?
If you dont, please quote me and post more irelevant links and ill be a good sport and come earn you another 50c in your quest to portrait everything Chinese as heavenly.
Common sense still says that car is too expensive for what it offers. Sorry...

 

[shuttler]

wow, still you are here with this. Dude i dont need links....i know about economy, im talking about everything else...the feel, the drive, the space, usefulness etc...all very strong factors when deciding on buying a car. And that 40k $ Golf flops in every category but economy.
Do you understand me now?
If you dont, please quote me and post more irelevant links and ill be a good sport and come earn you another 50c in your quest to portrait everything Chinese as heavenly.
Common sense still says that car is too expensive for what it offers. Sorry...

you are just pathetic and more miserable when you're dragging yourself to another new low！

Done！and you are still not brightened up to write something that makes sense！

 

[ahfatzia]

Analysis: "Caveat emptor" as foreigners rush to ride China rebound

(Reuters) - Foreign investors have started rebuilding their China equity portfolios, tempted by low valuations after two years of market underperformance and signs economic growth may be stabilizing.

They have pumped nearly $4 billion into Chinese equity funds in the past two months alone, trying to get in early on what they hope will be a sustained rally.

full story: Analysis: Caveat emptor as foreigners rush to ride China rebound | Reuters

................


Renault plans China car venture with Dongfeng: media

(Reuters) - French carmaker Renault SA (RENA.PA) is planning to launch a joint venture to build cars in China with Dongfeng Motor Group Co (0489.HK), the country's second-largest automaker, a local newspaper reported.

The two firms plan to invest a combined 6.5 billion yuan ($1.0 billion) in a plant in the central province of Hubei with an initial capacity of 200,000 cars a year, China Business News said on Monday, citing unnamed sources at Dongfeng.

Chen Guozhang, chief executive of Renault Greater China, was quoted by the newspaper as saying the planned JV would operate a plant formerly used by Renault when it had a local partner in the mid-1990s.

A Dongfeng spokesman said he had no information on the joint venture, while a Renault spokeswoman in China declined to comment.

Dongfeng also has car ventures with Nissan Motor Co (7201.T), Honda Motor Co (7267.T) and PSA Peugeot Co (PEUP.PA).

All foreign car makers producing vehicles in China must operate through a joint venture with a local firm. Renault briefly produced cars in China in the mid-1990s in a tie-up with a little-known state-owned maker of special purpose vehicles.

The French firm is currently one of the few foreign automakers to sell exported cars in China, but has met with a lackluster response.

Renault's Chen was also quoted as saying the automaker would not need to seek a new production license from the government, as it would able use the one from its previous joint venture.

Dongfeng shares rose more than 6 percent on Monday morning, outperforming a slightly weaker overall market.

Renault plans China car venture with Dongfeng: media | Reuters

 

[Audio]

you are just pathetic and more miserable when you're dragging yourself to another new low！

Done！and you are still not brightened up to write something that makes sense！

your common sense says Chinese made Golf is worth 40k$...i wouldn't know why out of all reasons you would try to defend it, it clearly isn't a car worth 40k, no matter it's efficiency.

 

[shuttler]

2012中国国际工程机械博览会在沪举行（11月27至30日）

2012年11月27日15:49 来源：新华网

和讯网.hexun.com

http://www.b-china.cnl

这是博览会室外展区展示的工程机械（11月27日摄）。11月27日，2012中国国际工程机械、建材机械、工程车辆及设备博览会在上海新国际博览中心开幕，来自中国、德国、意大利、美国等40个国家和地区的近2700家工程机械企业集中展示最新的产品和技术。新华社记者 裴鑫 摄

11月27日，一台铲车在博览会现场表演特技。新华社记者 裴鑫 摄
On November 27, a forklift truck performing stunts on the Expo site. Xinhua News Agency reporter Pei Xinshe

　
2012 China International Construction Machinery Exhibition held in Shanghai （Nov 27~30）

November 27, 2012 3:49 PM Source: Xinhua

Construction Machinery Exposition outdoor exhibition show (November 27, photo). November 27, 2012 China International Construction Machinery, Building Material Machines, Construction Vehicles and Equipment Exposition opened at the Shanghai New International Expo Centre, 2700 from nearly 40 countries and regions including China, Germany, Italy, the United States and other construction machinery enterprises showcase the latest products and technologies. Xinhua News Agency reporter Pei Xinshe


google translation

 

[sweetgrape]

China Preparing for a Nation-wide 4G network
China Preparing for a Nation-wide 4G network | China's Great Science and Technology

2012-11-27 — Engineers test new mobile grid ahead of launch of revolutionary technology. A bus installed with professional testing equipment is driven slowly along the main roads in Qingdao’s Huangdao development zone. Engineers watch a screen in the center area of the vehicle, checking ever-changing numbers that reflect the status of a TD-LTE 4G trial network.

The average download rate is around 35 megabits per second, with the maximum rate sometimes reaching 95 mbps. When engineers open a popular TV drama on the Chinese video website Youku.com, there is almost no download waiting time and the picture quality is good.

It is a common scenario for Ericsson China’s engineers on the newly constructed TD-LTE trial network. TD-LTE stands for Time Division Long Term Evolution technology, one of the international 4G mobile telecommunication standards. It is a homegrown technology largely promoted by China Mobile Ltd, the nation’s biggest telecom carrier.

Li Jiangli, senior customer solution manager at Ericsson China, said the TD-LTE trial network Ericsson built in Qingdao has been very successful and demonstrated a much superior performance than the current 2G and 3G mobile networks.

“Compared with 2G and 3G networks, the TD-LTE network will enable people to do more things with mobile phones. For example, you can watch movies, have video conferences and complete tasks that use large data traffic,” Li said.

Telecom equipment vendors including Ericsson are closely cooperating with China Mobile to deploy and test TD-LTE trial networks. Only through various tests under different circumstances can equipment suppliers gather experience and prepare well for their future commercial use, she added.

In Qingdao, Ericsson tested the possibility of updating GSM 2G base stations directly to the 4G TD-LTE base stations. “The solution does not only provide quality 4G functions but also greatly reduces the construction cost for telecom operators,” said Chang Gang, chief marketing officer of Ericsson China.
China Mobile owns most of the nation’s GSM base stations and operates one of the world’s most efficient GSM networks. The number of China Mobile’s GSM stations is more than double the carrier’s TD-SCDMA 3G base stations. By making better use of its GSM 2G resources, China Mobile can deploy a 4G network in a much shorter time because it takes only one hour to update a 2G station, Chang said.

China Mobile has been officially running the second phase of its scale-trial of TD-LTE technology in 13 Chinese cities since June. In addition to Ericsson, other leading telecom equipment vendors such as Huawei, ZTE and Alcatel Lucent have all participated and come up with new solutions and applications for the TD-LTE network.

In Hangzhou, people can experience TD-LTE network’s high-speed data transfer in buses. In Shenzhen, when the 26th Summer World University Games opened last year, media reporters were already able to shoot videos and send them back to editing platforms immediately via a TD-LTE trial network.

“The world’s 4G network development is gaining momentum. There is a clear trend in that all telecom equipment vendors are actively joining China’s 4G development,” said Huang Meng, a telecom analyst at Beijing-based research firm Analysys International.

The increasing 4G activity is largely driven by positive signals released by Chinese government and telecom operators recently, analysts said.

Miao Wei, minister for industry and information technology, revealed the Chinese government would soon grant 4G licenses to telecom carriers. The government will issue 4G licenses over the coming year, Miao was quoted as saying in a China National Radio report.

The ministry officially defined the TD-LTE spectrum – 2,500-2,690 MHz – in China in October, paving the way for future TD-LTE network commercial use.

Xi Guohua, chairman of China Mobile, said in June that China Mobile plans to have a total of more than 200,000 TD-LTE base stations through new builds and upgrades by 2013.

Rumors have circulated in Chinese media that China Telecom, the nation’s smallest mobile carrier, will probably adopt TD-LTE technology when it starts to deploy its 4G network. If true, it would be a great boost for the TD-LTE industry both at home and abroad.

 

[shuttler]

MTK6588时间或推前 联发科明年推8核MT6599 ？

时间:2012-09-26

来源:本站原创 mtk手机网
作者:丁香

联发科明年第一季度即将推出四核MTK6588的消息早就传遍业界，MTK MT6588拥有4个1G主频的A7架构核心，28nm制程，据台湾工商时报最新消息显示，巴克莱资本证券陆行之在昨天指出，联发科MTK6588推出时间可望由明年第一季度提前至今年第四季度！而且由于MTK6588单片价格仅18美元到20美元竞争力十足，千元以下四核智能手机将不再是“神话”

巴克莱资本证券陆行之还称，联发科除了会提前推出的四核MTK MT6588与同样28纳米双核MT6583之外，明年第四季度还将推出8核心ARM架构、支持 LTE同样支持TD-SCDMA与WCDMA网络的MT6599。联发科的进度加快，一反迟入3G智能手机市场的态势，直追其它芯片厂商。 本文来自MTK手机网MTK

陆行之特别点出MT6588的特性包括下列7项：
一、制程从40纳米转换至28纳米只花了4季时间、比以往8至10季要短了许多；
二、以能量消耗较少的 A7取代A9；
三、绘图效能加倍，且藉由Imagination SGX544提供3D功能；
四、采用SRAM免费驱动IC以降低面板成本；
五、支持1,300万画素照相镜头，高于800万画素；
六、价格仅18至20美 元，与高通S4芯片30至40美元相比具竞争力；
七、提早1季至今年第四季推出。

至于MT6588对整体市场与联发科获利的影响为何，陆行之认为主要有5项：
一、可以将中国4核心智能型手机价格由目前的320美元马上降到150美元 以下；
二、未来将看到更多与双核心Krait 1.7Ghz MSM8960A与4核心MSM8974相同的产品，而非接下来才要推出的8225Q。
三、预估MT6583/MT6588明年第四季占整体智能型手机芯 片出货比重将达50％，即便后年第四季推出MT6599后，也有50％的水平，因而调升出货预估值；
四、MT6588将有助于整体ASP维持在10美元以 上的水平，且客户能统一系统设计；
五、帮助1,300万画素CMOS感测与功率放大器厂商将重心放在中国与其它新兴市场。

目前国内手机厂商联想已被传出开始了MT6588四核处理器Arkansas手机的项目，预计10-11月份可与大家见面，而另一个联发科内地合作伙伴金立手机也传出同样开始MTK6588手机规划，看来MTK6588四核智能手机的风声越来越近了，同时相信明年8核MTK6599的面世，联发科还会给我们大的惊喜。




MediaTek Launching 8 Core MT6599 With LTE Early Next Year!
SEP 26, 2012


English link

MediaTek announced to pieces of great news today, the first is that they have moved the launch of the quad-core MT6588 CPU from early next-year to the 4th quarter of 2012 instead, which means low-cost Chinese quad-core phones are a matter of months away, in fact Lenovo are already testing theirs!

Even better than that though is news that MediaTek are planning to unleash its 8-core MT6599 CPU’s on the world as early as the first quarter of next year!

The 8-core MT6599 is not only going to bring some phenomenal performance increases to Chinese Android phones but also some great new never seen before features too, features which international customers are likely to be very excited about.

The MT6599 8-core CPU will be the first low-cost chip easily available to Chinese OEM’s wich offers support for LTE and TD-SCDMA / WCDMA which means that not only are we on the cusp of super powered 8 core phones but, super powered 8 core phones with LTE 4G support!

In 2013, ZTE will Make Smartphone with 8 Core Processor

Monday, 26 November 2012, 12:39 | Smartphone | 0 Comment | Read 74 Timesby Gracia Hidayat

Read more: http://technolookers.com/2012/11/26...artphone-with-8-core-processor/#ixzz2DRij9xZZ

Mobile phone with quad core processors are still not considered advanced enough by ZTE. Even in a recent report, the Chinese mobile phone manufacturer is preparing a mobile phone with 8 core processor called ZTE Apache in 2013.

Processors used by ZTE on the phone is not Nvidia or Qualcomm-made processor. Instead ZTE will reportedly wear 8 core processor manufactured by Mediatek. Mediatek own party reportedly preparing production MT6599 ARM15 processor using 28nm processing technology.