1. Deadly stampede tragedy in Shanghai
The stampede happened on the last night of year of 2014 as tens of thousands of people assembled on Shanghai's historic riverfront walk to see a new-year skyline show in the Pudong financial area on the opposite side of the Huangpu River.
36 people were killed from a 12-year-old to a 37-year-old among whom 34 were residents of the Chinese mainland, 1 was from Taiwan and one was a Malaysian citizen.
Shanghai and other big cities soon cancelled big gatherings and rolled out safety regulations on crowd control after the accident as the government was caught in the backwash of criticism for not putting in place effective preparation measures to cope with the crowds that flocked to the Bund.
2.Unfortunate shipwreck
The Eastern Star cruise ship sank on the Jianli section of the Yangtze River on June 1, killing 442 passengers and crew on board the ship as only 12 survived.
The Eastern Star, with 403 tourists, 46 crew members and five travel agency employees aboard, was on a 11-day trip along the Yangtze River when it was overturned by a tornado on the night of June 1.
The 76.5-meter vessel had been in service for nearly 20 years and could carry up to 534 people. It underwent annual maintenance in late 2014 and was certified to cruise until April 25, 2016.
Search and rescue operations have ended on June 13 and the investigation result released on Dec 30 says the reason for the shipwreck was the heavy storm during freak weather.
3. Stock market rollercoaster
The A-share market suffered a free fall from June to August in 2015 when the market regulator tightened leverage norms. Funds panicked, a selloff ensued, and even global markets shivered, worried over further slowdown in the world's second largest economy.
The benchmark Shanghai Composite Index crashed 45 percent in less than two months. The rout wiped out $5 trillion of market value and prompted the regulator to launch an unprecedented rescue.
The plunge delayed reform of the Chinese stock market, prompting the regulator to intensify crackdowns on market manipulators and insider trading. Several senior executives of CITIC Securities, the country's largest brokerage, were investigated for alleged insider trading.
4.Tianjin blasts
Catastrophic explosions happened at midnight on Aug 12 in Tianjin where large amounts of toxic chemicals were stored in warehouses including around 700 tons of sodium cyanide.
162 people died including 96 firefighters, 11 policemen and 55 residents nearby. The eleven missing include eight firefighters and three residents. Hundreds remain in hospital.
People are shocked to know how dangerous the neighborhood they lived in was as few people even knew about the existence of the hazardous chemicals before the blasts.
5.V-Day parade
China held a V-Day military parade on Sept 3 for the first time in Beijing to commemorate the 70th anniversary of the end of World War II and the victory of the war of China's resistance against the Japanese invasion.
Twenty-three heads of state and government leaders and over 100 foreign VIPs or relatives of wartime heroes attended the parade to share the moment with China.
President Xi Jinping also announced to cut China's troops by 300,000 by the end of 2017 to show the nation's resolve to sticking to the path of peaceful development.
12,000 troops and 1,000 foreign troops from 17 countries participated in the parade.
6.CPC Fifth Plenary Session
China is about to march into its 13th Five-Year Plan from 2016, a plan that was proposed and adopted during CPC Fifth Plenary Session from OCT 26 to 29 amid China's new normal of slower economic growth.
The plan shifts China's focus on raising energy output and improving its energy supply structure with specific wind, solar power, and oil exploration targets.
The second child policy and the goal to alleviate poverty drew much attention worldwide.
7. Xi-Ma meeting
President Xi Jinping and Taiwan leader Ma Ying-jeou met and had face-to-face talks in Singapore on Nov 7.
The meeting is the first between the leaders from both sides of the Straits in 66 years since 1949, hailed as a milestone for cross-Straits relations and a breakthrough in leaders' communication.
It gained much attention from the world though they weren't expected to sign any agreement nor deliver a joint communique but merely exchanged views on promoting peaceful development of cross-Straits relations.
8. Landslide in Shenzhen
A landslide buried 33 buildings at the Hengtaiyu industrial park in Shenzhen City on Dec 20, leaving seven people dead and 75 missing.
It was later proved to be a work safety incident-- the result of the collapse of waste construction material used for landfill --rather than a geological disaster.
The local government apologized to victims and 12 people who were involved are being detained. 52-year-old Xu Yuan'an, chief official who approved the waste dump site, fell to his death.
The Supreme People's Procuratorate announced it would investigate the case for suspected malpractice crimes while the search is still on.
9. AIIB starts operation
The Asian Infrastructure Investment Bank, the first international financial institution proposed by China, was formally set up in December 2015.
The AIIB mainly focuses on supporting infrastructure construction projects in the Asia-Pacific region as China looks to strengthening economic ties with the neighboring economies.
The bank has garnered the approval of 17 countries including China, Australia, the United Kingdom, South Korea and Germany.
10. Smog depresses the northern cities
Several alerts of smog attacks during the winter destroyed the general impression that air pollution is improving when severe smog blanketed the cities for days.
Some cities like Beijing started practicing regulations such as limiting the number of vehicles and suspending school on days with severe air pollution.
Source: Chinadaily
Saturday, 2 January 2016
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.
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
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
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.
"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.
1. ASEAN
2. European Union
3. The US
4. New Zealand
5. Brazil
6. Canada
7. Russia
8. Australia
9. Argentina
10. Republic of Korea
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.
1. ASEAN
2. European Union
3. The US
4. New Zealand
5. Brazil
6. Canada
7. Russia
8. Australia
9. Argentina
10. Republic of Korea
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