Monday, 21 December 2015

China squeeze reshapes Japanese electronics giants

There was a time when Chinese consumers were enamored of Japanese home appliance brands such as Sony, Panasonic, Toshiba, Sharp, Sanyo and Hitachi. Such brands dominated segments like televisions, music systems, washing machines, refrigerators, you name it. Not any more.

The rise of homegrown Chinese home appliance makers such as Haier Group, TCL Corp and Hisense Group has hurt Japanese electronics giants badly, pushing the latter into areas like high-end intelligent home appliances, business-to-business or B2B activities, construction, nuclear power, housing, automobiles, startup incubation and Internet of vehicles.

For instance, in January, Panasonic Corp closed its last television production factory in China, which was located in Jinan, capital city of Shandong province. Panasonic said it will instead outsource its TV production to Chinese contract manufacturers.

In August, it shut a factory in Beijing that produces lithium-ion batteries for laptops and smartphones, laying off about 1,300 employees.This year, Panasonic shifted its focus to businesses related to automobiles, housing and B2B activities. To gain a quick entry and market share through acquisition of firms engaged in those areas, it set up a 1 trillion yen ($8.19 billion) fund.

"We have set a goal of 10 trillion yen in profit in 2018, with the B2B business accounting for 80 percent of the total. Further development of the B2B field is key to moving Panasonic forward. We will also be committed to B2B in China,"

said Hidetoshi Osawa, chairman of Panasonic China.

Besides audio-visual information and communication technology, Panasonic will provide B2B solutions for housing, environmental projects, automobiles and electrical systems, he said.

Last year, Panasonic and Tesla Motors Inc, the United States-based maker of electric cars, teamed up to build lithium-ion battery factory in the US. Panasonic is targeting to double sales of its car battery-related business to 37.5 billion yuan ($6.47 billion) in 2018 from the 2014 level.

In 2011 and 2012, the company reported losses of 772.2 billion yen and 754.3 billion yen, respectively. The loss from home appliances was 8.5 billion yen in the first quarter of 2015.

Not unexpectedly, it laid off nearly 10,000 employees in the past two years. In the first quarter of this year, its net profit was 59.5 billion yen, up just 5.7 percent year-on-year, which it attributed mainly to its car-related B2B business.

As for its core competence in home appliances, Panasonic intends to focus on the high-end segment of intelligent devices and machines in China, to cater to the growing high-income middle class families, said Masanao Yamauchi, general manager of Panasonic China Appliances Co.

Panasonic's vision is to make products that would enable consumers to control, say, electric cookers using their mobile phones.

"Our aim is to connect different smart home appliances and create intelligent indoor spaces for families, communities and towns," said Yamauchi.

Like Panasonic, Sony Corp is chasing a revival in China. Ever since Kazuo Hirai's appointment as president and CEO in 2012, the company has been restructuring itself. It sold its Vaio computer business and spun off its TV division.
"Profit from the electronics business, except the mobile phones, has improved as a result of the restructuring," said Hirai.

In 2014, revenue was about $68.47 billion, up 5.8 percent year-on-year, and operating profit was $571 million. Its TV business, now with focus on high-end models, posted its first profit in 11 years.

"We will increase sales of high-end products to ensure profits. We will focus on the post-1980 and post-1990 generations and middle-class users and cultivate new businesses with unique technologies," said Nobuki Kurita, president of Sony China Co Ltd.

For Sony, the Chinese market is a priority alongside the US, he said. Sony now has three key businesses in China, including consumer electronics, specialized business solutions and devices, said Kurita.

In consumer electronics, Sony's focus is on value-added products like high-resolution, extremely slim television sets, and imaging products and solutions, including specialized broadcasting audio equipment, projectors, digital cinema and B2B business involving medical and telecommunication equipment, Kurita said.

Last year, Sony launched the Seed Acceleration Program, a startup incubator that seeks to fast-track promising new business ideas. The program has already spawned startups for smart locks, smart wristbands and smartwatches.

The Japanese exit from electronics extended beyond China. Chinese TV maker Hisense acquired Sharp's TV factory in Mexico and its television business for the North and South American markets.

Elsewhere, faced with huge losses, Toshiba Corp exited TV production and decided to focus on construction, nuclear power and infrastructure and other B2B businesses.

Japanese giants' efforts to remain relevant are a result of Chinese enterprises' newly acquired mastery in home appliance technologies and cost advantages, which hurt the former's profits, said Zhang Yanbin, assistant director of All

View Cloud, a Beijing-based consultancy specializing in home appliances. The shift to other areas "is a necessity" and a "strategic adjustment", he said.

Liang Zhenpeng, an analyst of consumer electronics, said: "Japanese companies must simplify the decision-making process, improve operational efficiency and strengthen the transformation to intelligent and internet-enabled fields."

What is an 'intelligent' or smart appliance?

Smart home products are devices or appliances that can be operated, controlled and monitored using mobile phones via Internet. They use technologies like cloud computing and big data, and have the capability to be connected to other such devices.

Source: Chinadaily

Top 10 best-performing third-tier cities in China

Suzhou of Jiangsu province has been rated as China's best third-tier city in terms of economic performance by US independent think tank Milken Institute.

It is the first time the institute compiled such ranking. The list ranks 266 Chinese cities, 232 of which are third-tier.

Seven of the top 10 best-performing third-tier cities are in Jiangsu province, as they have benefited from Shanghai's proximity and an influx of talent and technology.

The rankings are based on economic performance, including job and income growth, gross regional product, and foreign direct investment, as well as the strength of high value-added industries.

Here are the top 10 third-tier cities compiled by Milken Institute.

1. Suzhou
Overall ranking in China: 1
Total population: 6.54 million

2. Nantong, Jiangsu province
Overall ranking in China: 3
Total population: 7.67 million

3. Yangzhou, Jiangsu province
Overall ranking in China: 4
Total population: 4.6 million

4. Suqian, Jiangsu province
Overall ranking in China: 5
Total population: 5.72 million

5. Taizhou, Jiangsu province
Overall ranking in China: 6
Total population: 5.08 million

6. Qingyang, Gansu province
Overall ranking in China: 8
Total population: 2.64 million

7. Changzhou, Jiangsu province
Overall ranking in China: 10
Total population: 3.66 million

8. Wuxi, Jiangsu province
Overall ranking in China: 13
Total population: 4.72 million

9.Ji'an, Jiangxi province
Overall ranking in China: 16
Total population: 5.09 million

10. Yichang, Hubei province
Overall ranking in China: 17
Total population: 4 million

Monday, 14 December 2015

2016 China Official National Holiday Schedule

The General Office of the P.R.C State Council issued a holiday notice last week, here is the national holiday schedule in 2016 in China:

1.New Year Day: Jan 1 - 3, 2016. Three days in all

2.Spring Festival (Chinese New Year): Feb 7 - 13, 2016. Seven days in all

3.Tomb-Sweeping Day: April 2 - 4, 2016. Three days in all

4.May Day(Labour Day): April 30 - May 2, 2016. Three days in all

5. Dragon-Boat Festival: June 9 -11, 2016. Three days in all

6. Mid-Autumn Festival: Sep 15 -17, 2016. Three days in all

7. National Day: Oct 1 - 7. Seven days in all

Wednesday, 25 November 2015

China automation industry issues group standards for robots

The China Association for Science and Technology published four standards for industrial robots-the first for China's robotics industry-at the World Robot Conference 2015 in Beijing. The three-day conference, which opened on Monday, was jointly hosted by the association, the Beijing municipal government and the Ministry of Industry and Information Technology to boost the development of the robotics industry in China.

"Technological innovation is the driving force in the development of the robotics industry, and standards play a crucial role in promoting new technologies," said Song Jun, head of the academic department of the association. "The standards themselves are an important achievement brought about by innovation."

"After publication, we will seek recognition of the standards to make them a common language for international technological exchanges," he said. The newly published standards apply to three different kinds of robots: stacking robots, wheeled robots and electronic belt scales.

At the publication ceremony on Tuesday, representatives from more than 20 leading robotics research institutes and industrial robot producers signed commitments that they will adopt the standards.

"The Chinese authorities related to industrial automation had been carrying out successive reforms in recent years, and the publication of the group standard is one of the most promising developments," said Yang Shuping, a researcher at the Beijing Research Institute of Automation for the Machinery Industry.

Group standards are a set of voluntary technical standards created by nongovernmental academic organizations that are thoroughly tested before being promulgated on a national scale.In July, the State Council, China's Cabinet, issued an implementation plan to transfer more government functions, including the establishment of some industry standards, to the China Association for Science, a public organization of 204 technological associations covering more than 70 percent of China's tech community.

In the months that followed, the association compiled standards for a number of cutting-edge technologies including industrial robots, electric cars and 3D printing.

"Group standards are a good supplement to national standards. Since the development cycle of group standards is usually fast, it responds quickly to market changes and can lay the groundwork for amendments to national standards," Yang said.

In September, the Standardization Administration of China authorized the establishment of a special team for standardization within the robotics industry. The team-composed of government officials and industrial experts from 56 different government authorities, research institutes and companies-will develop and propose the international standards.

Tuesday, 3 November 2015

Shanghai FTZ unveils new financial reforms

BEIJING - Liberalizing the capital account was the highlight of a number of new pilot measures that China's central bank announced for the Shanghai free trade zone on Friday.

The People's Bank of China said in a statement that individuals in the zone will be allowed to directly buy overseas assets, including businesses, stocks and real estate.

Chinese citizens currently can only make overseas investments through third parties including banks and securities firms.

China will also increase the exchange quota for its citizens in the zone. Currently, each one only has an exchange quota of $50,000 every year.

In addition, the zone will allow more institutions and individuals to buy securities and futures in the domestic and overseas markets.

The central bank did not give a timetable for the measures.

Lu Zhengwei, chief economist with Industrial Bank, said the moves indicate accelerated steps toward capital account liberalization and renminbi internationalization as China is seeking to include renminbi in a basket of reserve currencies by the IMF.

Zhu Ying, president of international business with Agricultural Bank of China's Shanghai branch, said the new policies will make it easier for both individuals and institutions to invest and raise funds across the border.

Top 10 biggest exporters of food to China

Appetite for imported food has been growing fast in the country as the increasingly wealthy population seeks more exotic eating, latest data showed.

China's food imports saw an annualized growth of 17.4 percent through the 2010-2014 period, Xinhua reported, citing data from the General Administration of Quality Supervision, Inspection and Quarantine.

The imports came from 213 countries and regions, with the top 10 exporters accounting for 84.3 percent of the total trade. Among all, ASEAN ranks as the number one source of food imports.

2. European Union
3. The US
4. New Zealand
5. Brazil
6. Canada
7. Russia
8. Australia
9. Argentina
10. Republic of Korea

Thursday, 15 October 2015

Top 10 most valuable privately held Chinese brands

The Hurun Research Institute has released a list of China's most valuable brands in 2015. Published annually since 2006, it assesses the value of 200 home-grown mainland brands based on economic statistics and consumer surveys.
Among them, 101 are privately held and 99 State-owned, while 170 saw their value increase. The total brand value reached $696 billion, up 36 percent year-on-year.
Tencent, China's largest and most popular Internet service portal was named most valuable Chinese brand this year, worth $44.7 billion. Taobao, the leading e-commerce platform in China, came second, worth $42.9 billion, overtaking China Mobile, Baidu and the Industrial and Commercial Bank of China. China Mobile ranked third, worth $42.7 billion.
No 1 Tencent
Brand value: $44.7 billion
Increase: 33 percent
Industry: IT
Headquarters: Guangdong province
No 2
Brand value: $42.9 billion
Increase: 44 percent
Industry: E-commerce
Headquarters: Zhejiang province
No 3 Baidu
Brand value: $40.3 billion
Increase: 32 percent
Industry: Internet search engine
Headquarters: Beijing
No 4
Brand value: $15.32 billion
Increase: 98 percent
Industry: E-commerce
Headquarters: Zhejiang province
No 5 Ping An Insurance (Group) Company of China
Brand value: $15.16 billion
Increase: 36 percent
Industry: Insurance
Headquarters: Guangdong province
No 6
Brand value: $12.1 billion
Increase: 266 percent
Industry: E-commerce
Headquarters: Beijing
No 7 Wanda Group
Brand value: $8.87 billion
Increase: 67 percent
Industry: Real estate
Headquarters: Beijing
No 8 Xiaomi
Brand value: $7.26 billion
Increase: 525 percent
Industry: Mobile phones
Headquarters: Beijing
No 9 Alipay
Brand value: $5.32 billion
Increase: 27 percent
Industry: E-commerce
Headquarters: Zhejiang province
No 10 Midea
Brand value: $4.68 billion
Increase: 81 percent
Industry: Home appliances
Headquarters: Guangdong province

Top 10 overseas destinations of Chinese National Day holiday

More and more Chinese are traveling overseas and their enthusiasm has not been affected by the fluctuation of renminbi,the Chinese currency.
Ctrip, an online travel agency, has released a report on trips taken during the National Day holiday which started on Oct 1 and ended on Oct 7, 2015. Let us take a look at the top 10 destinations chosen by Chinese tourists.
No 1 Seoul, the Republic of Korea
No 2 Hong Kong, China
No 3 Bangkok, Thailand
No 4 Phuket Island, Thailand
No 5 Osaka, Japan
No 6 Taipei, China
No 7 Tokyo, Japan
No 8 Jeju Island, the Republic of Korea
No 9 Singapore
No 10 Bali, Indonesia

Top 10 most competitive economies

Switzerland has the most competitive economy, while the Chinese mainland ranks 28th, said the World Economic Forum in its latest report.
The Global Competitiveness Index 2015-2016 measures national competitiveness—defined as the set of institutions, policies and factors that determine the level of productivity. The recovery after the financial crisis has been less robust, more uncertain and taken longer than many expected, suggesting a "new normal" of subdued economic growth, lower productivity growth and high unemployment, noted the report.
"Competitiveness - understood as higher productivity – is a key driver of growth and resilience," said the WEF, calling for productivity enhancing reforms to break the slump. The Chinese mainland ranks 28th, same as last year, and trailing Israel and followed by Iceland.Here are the top 10 most competitive countries and regions compiled by the WEF.
1. Switzerland
Score: 5.8
Previous ranking: 1
2. Singapore
Score: 5.7
Previous ranking: 2
3. United States
Score: 5.6
Previous ranking: 3
4. Germany
Score: 5.5
Previous ranking: 5
5. Netherlands
Score: 5.5
Previous ranking: 8
6. Japan
Score: 5.5
Previous ranking: 6
7. Hong Kong SAR
Score: 5.5
Previous ranking: 7
8. Finland
Score: 5.5
Previous ranking: 4
9. Sweden
Score: 5.4
Previous ranking: 10
10. United Kingdom
Score: 5.4
Previous ranking: 9

Top 10 most popular online shopping sites in China

Global e-commerce sales are forecast to increase by more than 20 percent this year, surpassing $1.5 trillion. Even more significant is the growth predicted in the Asia-Pacific, which this year is set to topple the United States as the largest market in the world by sales revenue.Let's have a look at top 10 most popular shopping websites in China, according to a list released by
No 1 TMall
A comprehensive e-commerce marketplace run by Alibaba, it hosts thousands of brands and sees more than 40 million daily visitors.
No 2 JD
The largest comprehensive online retailer sells products covering 12 main categories with tens of thousands of brands. Its main items include home electronic appliances, digital/communications, computer, household articles, clothing, maternal and baby care products, books, food and tourism products.
No 3 Amazon China
The China branch of Amazon, main products include books, audio & video and software.
No 4 Dangdang
Dangdang, which like Amazon began by selling books, has now become one of the leading comprehensive online retailers in China, with products ranging from books, audio & video, clothing maternal and baby care products to household articles and cosmetics.
No 5 51buy (Yixun)
Run and managed by Tencent, the owner of the hugely successful mobile text and voice messaging services WeChat and one of the largest Internet companies in China, 51buy is another leading comprehensive online retailer in China.
No 6 Yihaodian
An online grocery store selling food & beverage, cosmetic and skincare, kitchen cleaning, household articles, electronic appliances, maternal and baby care products and toys.
No 7 Vancl
Vancl, which had an incredibly successful run selling self-branded T-shirts before 2012, has now morphed into an e-commerce marketplace that hosts its own products as well as third-party brands.
No 8 Suning
Online version of a leading home electronic appliances retail chain store in China. It is also one of China's most influential online retailers for electrical, computer, peripherals, books and virtual goods.
No 9 Vipstore
A flash sale online store offering designer fashion brands and the only Chinese e-commerce startup successfully listed on NYSE
No 10 KMALL 
KMALL is a global online retail e-commerce provider that delivers products directly to consumers around the world. Founded in 2012, KMALL offers customers a convenient way to shop for a wide selection of lifestyle products at attractive prices through, and other websites, which are available in multiple languages. KMALL is owned by Info Tech Hong Kong.

Top 10 high-speed trains in the world

The Chinese mainland is considering building a high-speed railway across the Siberia and Bering Strait to Alaska, across Canada to the US. In not so distant future, people can take the train from the mainland to the US, according to Beijing Times citing Wang Mengshu, a railway expert and academician of the Chinese Academy of Engineering. High-speed rail has improved the travel experience in a growing number of countries and regions. Now, let's take a look at the 10 fastest trains in the world.
No 1: Shanghai Maglev Train, Chinese mainland
Maximum Operating Speed: 268 mph
Record Speed: 311 mph
The Shanghai Maglev train connects Shanghai Pudong International Airport with the Shanghai metro system. It has been recorded at a top speed of 311 mph and its top operating speed is 268 mph, making it the world's fastest commercial train.
No 2: Harmony CRH380A, Chinese mainland
Maximum Operating Speed: 236 mph
Record Speed: 302 mph
Running on a more traditional track, the CRH380A has topped out at 302 mph, maxes out commercially at 236 mph and routinely runs at 217 mph. There are currently four models of the train serving different railroad lines in China.
No 3: ICE 3, Germany
Operating Speed: 199 mph
Record Speed: 229 mph
Launch Date: 2000
No 4: Shinkansen Train E5, Japan
Operating Speed: 199 mph
Record Speed: 223 mph
Launch Date: 2011
No 5: TGV Train POS, France
Operating Speed: 199 mph
Record Speed: 357 mph
Launch Date: 2008
No 6: AVE Series 103, Spain
Operating Speed: 193 mph
Record Speed: 250 mph
Launch Date: 2006
No 7: KTX Sancheon, South Korea
Operating Speed: 190 mph
Record Speed: 217 mph
Launch Date: 2010
No 8: ETR 500 Frecciarossa (Red Arrow) and ETR 575 AGV, Italy
Operating Speed: 186 mph
Record Speed: 211 mph (Red Arrow), 224 mph (AGV)
Launch Date: 2008 (Red Arrow), 2012 (AGV)
Italy offers two competing high-speed rail services - the public Red Arrow and the private Automotrice à Grande Vitesse (AGV) - on the same tracks.
No 9: Eurostar Class 373, Britain, France and Belgium
Operating Speed: 186 mph
Record Speed: 208 mph
Launch Date: 1993
No 10: THSR 700T, Taiwan
Operating Speed: 186 mph
Record Speed: 196 mph
Launch Date: 2007

Top 10 foreign-funded chain stores in China

The Chinese mainland has been a battleground for foreign chain stores for years as the country boasts one of the largest markets in the world. Its total retail sales increased 13.1 percent year on year in 2013 to 23.44 trillion yuan ($3.75 trillion), the National Bureau of Statistics said. Let's look at the largest foreign-funded chain stores in the mainland measured by revenues, according to a list released by the China Chain Store & Franchise Association.
No 1 RT-Mart International Ltd
Chinese mainland revenue of the Taiwan-based hypermarket reached 80.12 billion yuan in 2013, an increase of 10 percent year on year. By the end of 2013, the company had 264 stores here.
No 2 Wal-Mart Stores
Wal-Mart Stores is an American multinational retail corporation that runs chains of large discount department and warehouse stores. The company is the world's largest public corporation, according to the Fortune Global 500 list in 2014, the biggest private employer in the world with more than two million employees, and the largest retailer in the world. Last year revenue totaled 72.21 billion yuan in the Chinese mainland, an increase of 24.5 percent year on year. By the end of 2013, the company had 407 stores here.
No 3 Yum!
Yum! is a United States-based Fortune 500 corporation. Yum! operates four licenses: Taco Bell, KFC, Pizza Hut and WingStreet restaurants worldwide. In 2013, the company's Chinese mainland revenue totaled 50.2 billion yuan, a decrease of 3.8 percent year on year. By the end of 2013 the company had 6,000 stores here.
No 4 Carrefour
Carrefour is a French multinational retailer. It is one of the largest hypermarket chains in the world and the fourth largest retail group in the world in terms of revenue (after Wal-Mart, Tesco and Costco).In 2013, the company's Chinese mainland revenue totaled 46.71 billion yuan, an increase of 3.2 percent year on year. By the end of 2013, the company had 236 stores here.
No 5 Five Star Appliance
Five Star Appliance is a wholly-owned subsidiary of Best Buy Co, an American multinational consumer electronics corporation. In 2013, the company's revenue totaled 26.6 billion yuan in the Chinese mainland, with an increase of 10 percent year on year. By the end of 2013, the company had 189 stores here.
No 6 Tesco
Tesco PLC is a British multinational grocery and general merchandise retailer and the second-largest retailer in the world, measured by revenues.In 2013, the company's estimated revenue totaled 20.5 billion yuan in the Chinese mainland, an increase of 2.5 percent year on year. By the end of 2013, the company had 144 mainland stores.
No 7 Parkson
Parkson is an Asian-based department store operator with stores across cities in Malaysia, China, Vietnam, Indonesia, Myanmar and Sri Lanka. In 2013, the company's estimated revenue totaled 20.45 billion yuan in the Chinese mainland, an increase of 4.3 percent year on year. By the end of 2013, the company had 58 stores here.
No 8 Golden Eagle International Shopping Centers
Hong Kong-funded Golden Eagle International Shopping Centers earned revenue of 18.79 billion yuan in the Chinese mainland in 2013, an increase of 0.7 percent year on year. By the end of 2013, the company had 27 mainland stores.
No 9 Metro Group
Metro Group is a German diversified retail and wholesale group. It is the fifth-largest retailer in the world measured by revenues. In 2013, the company's revenue totaled 17.5 billion yuan in the Chinese mainland, an increase of 14.4 percent year on year. By the end of 2013, the company had 75 stores in the mainland.
No 10 Lotte Mart
Lotte Mart is an East Asian hypermarket that sells a variety of groceries, clothing, toys, electronics and other goods, with headquarters in Japan and South Korea. In 2013, the company's estimated revenue totaled 15.5 billion yuan in the Chinese mainland, down five percent year on year. By the end of 2013, the company had 110 stores here.

Top 10 Chinese Internet firms eyeing IPOs in US

Fever of listing companies in the United States has spread to China's Internet sector this year as more e-commerce firms, online travel agencies, mobile game companies, and social media firms have joined the game to launch initial public offering on US bourses.
Although some of them have not confirmed plans to list in the US, rumors are swirling all over China's online media.
This is not the first time that Chinese companies are planning to go public. The early pioneers,,, NetEase Inc and, all launched their IPO filing around new millennium. Around 2005, another wave came when Baidu, Tencent,, KongZhong and SNDA all took part in the race. The latest IPO boom started at the end of last year with online firms such as, and
Let's take a look 10 most-anticipated IPOs. The list is ranked in random order.
Weibo Corp, China's version of Twitter Inc, raises $286 million in an initial public offering in New York on Thursday, falling short of expectations because of a reduced offering size, in a big test of demand for Chinese Internet stocks ahead of a hotly anticipated Alibaba Group Holding Ltd. Listing.
At the IPO price, Weibo, which is growing fast but posted a net loss last year, is valued at about $3.4 billion. The $17-a-share price, which was at the bottom of the projected range of $17 to $19. The company sold 16.8 million shares, fewer than the 20 million expected.
JD Inc, China's second-largest e-commerce company, will be split into four different business units: two groups, a subsidiary and a business division as it prepares to launch an initial public offering in the US.
To compete with its listed rivals, such as Ctrip, Qunar and eLong, handed out its registration statement to the Securities and Exchange Commission of the US at the beginning of April as it seeks to raise $120 million through its IPO
According to online media reports, Chinese e-commerce giant Alibaba Group Holding Ltd is expected to file the prospectus for its IPO next week, although there has been no official comment by Alibaba itself. The IPO could be worth more than $16 billion, surpassing the previous record for a technology listing set by Facebook Inc in 2012, according to media reports.
Jumei, an e-commerce company that sells cosmetics, is planning an initial public offering in the US and will seek to raise about $500 million. The China-based company will join, in seeking capital in the US.
Wang Ying, vice president of, reportedly claimed at a forum held in Shenzhen that the story about xunlei's imminent IPO is not a fabricated rumor, and the company is prepared for listing, according to the website of Securities Times., a Chinese online job-market operator controlled by Australia's Seek Ltd, has selected Credit Suisse Group AG and UBS AG to work on an IPO as early as the first half, according to a Bloomberg report in January. The IPO may raise more than $200 million, the source said.
According to, Vancl, the Chinese clothing e-tailor, has wrapped up its seventh round of venture capital funding. The newest tranche is worth $100 million. Some in media have questioned the possibility that the company will launch an IPO in 2014 since the latest funding didn't match their expectation.
Online media revealed that Chinese group-buying site Meituan is nearing completion on a new round of funding of more than $100 million led by Sequoia Capital. Rumors said Meituan will seek an IPO in the half year of 2014.
CHUKONG Technology
Beijing CHUKONG Technology Co Ltd, a China-based mobile-gaming company, will deliver its prospectus to the Securities and Exchange Commission of the US in the second quarter of 2014, according to China Business News. Another source told the newspaper that Morgan Stanley, Deutsche Bank and China Renaissance Partners will be its underwriter

Tuesday, 29 September 2015

Top 10 most valuable Chinese brands

Top 10 most valuable Chinese brands

With an estimated worth of $44,700 million, Tencent has been crowned the year's Most Valuable Chinese brand in a list released by the Hurun Institute,the second consecutive time it has snared top spot.

Taobao, a subsidiary of Alibaba, is second with a brand value of $42,900 million, overtaking China Mobile, Baidu and ICBC.

The total worth of 200 listed brands has risen by 36 percent year-on-year to reach $696 billion, with the top 10 accounting for 46 percent of the total.

Here are the most valuable brands in China.

No 1 Tencent
Brand value: $44,700 million
Industry: IT

No 2 Taobao
Brand value: $42,900 million
Industry: E-commerce

No 3 China Mobile
Brand value: $42,700 million
Industry: Mobile communications

No 4 Baidu
Brand value: $40,300 million
Industry: Search engine

No 5 Industrial and Commercial Bank of China
Brand value: $36,600 million
Industry: Banking

No 6 China Construction Bank
Brand value: $29,800 million
Industry: Banking

No 7 Bank of China
Brand value: $25,200 million
Industry: Banking

No 8 Agricultural Bank of China
Brand value: $19,400 million
Industry: Banking

No 9 China Life
Brand value: $19,000 million
Industry: Insurance

No 10 Chunghwa
Brand value: $16,500 million
Industry: Tobacco


Top 10 most-used currencies in the world

China's yuan has surpassed the Swiss franc to become the seventh most-used currency in the world in January, according to global transaction services organization SWIFT. This is the third consecutive month when the currency has been ranked among the 10 most-used currencies.

It has a global market share of 1.39 percent, followed closely by the Swiss franc at 1.38 percent. Let's have a look at the 10 most-used currencies in the world market.

No 1 US dollar
No 2 European euro
No 3 UK pound sterling
No 4 Japanese yen
No 5 Canadian dollar
No 6 Australian dollar
No 7 Chinese yuan
No 8 Swiss franc
No 9 Singapore dollar
No 10 Hong Kong dollar

Source: China Daily

Monday, 21 September 2015

Top 5 best-selling wearable devices brands

Thanks to the Apple Watch, Apple has become the second best-selling wearable devices brand in the world, leaving the tech giant just behind Fitbit, the latest data showed. Fitbit sold 4.4 million wearable devices in the second quarter this year, remaining top of the list, according to industry research firm IDC, followed by Apple with 3.6 million.

Xiaomi ranked the third by owning 17.1 percent of the market share, said the report.After three years of fast growth, the wearable devices industry has entered maturity, where challenging dominant players will become increasingly difficult, said analysts.Here's a list of the world's top 5 best-selling wearable devices vendors, compiled by the IDC.

1. Fitbit

Shipment volume in the second quarter 2015: 4.4 million

Market share: 24.3%

2. Apple

Shipment volume in the second quarter 2015: 3.6 million

Market share: 19.9%

3. Xiaomi

Shipment volume in the second quarter 2015: 3.1 million

Market share: 17.1%

4. Garmin

Shipment volume in the second quarter 2015: 0.7 million

Market share: 3.9%

5. Samsung

Shipment volume in the second quarter 2015: 0.6 million

Market share: 3.3%

Top 10 products China manufactures most on the globe

China is good at making many things, from shoes to mobile phones, clothes to computers, and toys to ships. Now the country has a 10-year national plan, Made in China 2025, which makes the world's second-largest economy ever more poised to move up the value chain and turn itself from a manufacturing giant into a world industrialized power.Here we detail some products, of which China makes the most.

No 1: Personal computers
China produced 286.2 million personal computers in 2014, accounting for 90.6 percent of the world's total. The per capita production was 40 times the average of other parts of the world.

No 2: Air conditioners
China makes 80 percent of the world's air conditioners - that's 109 billion annually. Per capita production is 17 times the average of other parts of the world.

No 3: Energy-saving lamps
The country's 4.3 billion energy-saving lamps account for 80 percent of the global total,with each person producing 3.2 lamps annually - 16 times the average of other parts of the world.

No 4: Solar cells
Overall capacity of solar cells hits 21.8 million kW annually, 80 percent of the world total.

No 5: Mobile phones
China makes about 70.6 percent of global mobile phones, 1.77 billion annually. Per capita phone production is 10 times the average of other parts of the world.

No 6: Shoes
The number of shoes made in China annually reaches 12.6 billion, taking up 63 percent of the world's total. Its per capita production stands at 10 pairs, about eight times the average of other parts of the world.

No 7: Cement
China annually produces 1.8 billion tons of cement, which accounts for 60 percent of the world's supply. Per capita production is more than six times the average of other parts of the world.

No 8: Pork
Pork bred by China contributes 49.8 percent of the total worldwide, hitting 1.5 million tons annually. That means for each person in China 40 kilograms are produced annually, six times the average of other parts of the world.

No 9: Coal
The country produces about 1.8 billion tons of coal (oil equivalent) annually, taking up 48.2 percent of the world's total. Its per capita production is also triple the average of other parts of the world.

No 10: Ships
China builds about 766 million tons of vessels annually, accounting for 45.1 percent of the world's total and triple the average per 1,000 people in other parts of the world each year.

Wednesday, 29 July 2015

Two more fake Chinese importers discovered

Here are the two more Chinese fake importer (scammer) reported by K&S Pallets, Australia on July 29,2015:

Add: No.268 Youyi East Road, Xi An City, Shanxi, China

Tel: 0086-755-32840029

How they TRAP you STEP by STEP ? 

First: Use automatic group mailing software to send you attractive offers and inquiries, with created official websites and email boxes. Formal documents, formal address, websites and bank accounts etc, everything seems to be normal.

Second: Invite you to sign a formal Purchase Contract in person in China.

Third: Insist on notarizing the contract and they will use a non-exist notary office to notarize the document, then all the notary fee will be in their pocket.

Fourth: Asking you for‘kickbacks’or‘bribes’in lot of‘pretexts’in China.
Fifth: After they get all those money, they will disappear and replica the scam again.

What are the Countermeasures against these Professional Business Fraudsters?

First: Ask the importer for their Business License and Import License before your departure to China, then check out their registered information with local officials first.

Second: Book a professional Company Inspection or Investigation service from a third-party service company, checking them out before further discussion.

Third: Appoint a local representative and visit them first before your departure to China, they are NOT able to cheat local experts.

Fourth: Never pay anything before receiving the deposit from the importer.

No matter you're buying or selling, Due Diligence work is always important in China. Think it over before you pay out even one penny!

Sunday, 5 July 2015

The Latest list of Chemicals or Non-ferrous Metals Fraud Companies in China

The Latest list of Chemicals or Non-ferrous Metals Fraud Companies in China

This list of fraud companies was confirmed and submitted by a German business partner from STIN group.

1.Beijing Xinhenglong International Import and Export Co.,Ltd

2.ShanXi HengWei Industrial Co., Ltd

3. (deleted upon request)


5.Hebei Hongyun

6.Hebei Bajun Metal Products Co.,Ltd

7.Deleted upon request

8. Dubang China Group Co.,Ltd


10.Shijiazhuang Feiyang Trade Co.,Ltd

11.Tianjin Lanrui Mineral Marketing Co., Ltd

12.China Anlong Group Co., Ltd

13.Hebei Shengfa Trading Co., Ltd

14.Hebei Expand Import and Export Co., Ltd

If you have more scammer information, please contact STIN verification team for assistance in China.

Wednesday, 10 June 2015

China's import tax cut to reduce revenue, aid consumption

China's latest cuts to import duties will reduce fiscal revenue while boosting domestic consumption, said vice finance minister Shi Yaobin on Friday at a press conference.

The Ministry of Finance (MOF) announced on Monday that China will cut import taxes on clothing, cosmetics and some other goods from June 1.

The MOF said that it will slash duty by half, on average, on suits, fur garments and shoes. A tariff on cosmetics will fall to 2 percent from 5 percent, while a duty on diapers will decline to 2 percent from 7.5 percent.

There is no doubt that the cuts will reduce fiscal revenue, said Shi, while declining to give an exact amount, but he did not expect revenue to decrease too much given that more imported goods mean more import tax revenue.

With strong purchasing power, Chinese mainland travelers often buy goods as diverse as diapers and handbags abroad to avoid import and consumer taxes back home. Mainland tourists abroad spent $165 billion in 2014, up from $129 billion in 2013.

Saturday, 2 May 2015

Duties on rare earth exports to be ended in China

Here is the good news for some rare earth importers worldwide:

Export duties on rare earths will be eliminated on May 1, 2015, the Ministry of Finance said in a statement on Thursday, a move that analysts said would stimulate China's exports of the limited resource.
Rare earths-a group of minerals that are crucial to the technology and defense industries-as well as tungsten and molybdenum will be exempt from tariffs, and wrought aluminum products will also enjoy a zero rate, the statement said.
The move, according to Du Shuaibing, an analyst at natural resources consultancy Baichuan Information, will reduce the prices of rare earths by 20 to 25 percent.
"Rare earth export volumes are expected to increase greatly, which will help producers digest inventories," said Du.
The move also will also have an impact on international rare earth prices, because lower-priced exports from China will affect sales of rare earths produced in other countries and regions.
The metals are used in products as varied as iPhones and wind turbines.
In 2014, rare earth exports reached 28,000 metric tons, up 27.3 percent from a year earlier. The average export price was 83,000 yuan ($13,300) per metric ton, down 47.8 percent.
But Du said that resource and environmental taxes on rare earth producers, which have caused production costs and therefore prices to rise, are still the primary concern in the market.
It is also crucial to crack down on illegal mining and smuggling, factors that lead to an oversupply, Du said.
China's six major rare earth groups, which dominate exports, are expected to complete most of the work necessary to integrate small mines and smelting companies by the end of 2015.
China is the world's largest producer and exporter of the minerals, but the industry is beset by problems including illegal mining, smuggling and a lack of competitiveness due to weak research and development.
The country raised tariffs and imposed strict output quotas in 2010 to not only protect its scarce resources, but also reduce the environmental impact of extraction. Importers in Japan, Europe and the United States complained that the move had breached trade rules.
Shares in producers of rare earths surged on Thursday after the duty change was announced. But Du said that participants in the industry will take a more measured view of policy changes.
Key movements for the industry
Before 2003: Exports are encouraged with rebates
2003-06: Exports are restricted, with rebates phased out
2006-14: Ceilings on exports are raised, export tariffs hiked annually
Jan 1, 2015: Tariff implementation plan enforced