China Think-Tank Sees 2009 Economic Growth Near 8%

China Think-Tank Sees 2009 Economic Growth Near 8%

China will expand about 8% this year, a leading think-tank said on Thursday, the latest in a series of broadly bullish reports reflecting the growing momentum of the world's third-largest economy.

China Car Sales Jump 48%

China Car Sales Jump 48% on Support, Most Since 2006
China’s passenger-vehicle sales rose 48 percent in June, the biggest jump since February 2006, as government stimulus spending spurred a revival in the world’s third-largest economy.
Chinese motorists bought 872,900 cars, sport-utility vehicles and other passenger vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Overall auto sales, including buses and trucks, rose 36 percent to 1.14 million

SINOCES

According to CEA Market Research, the Chinese market will account for 14.5 percent of the global CE revenue in 2009 with revenue expected to top $100 billion. SINOCES is the gateway to this market, offering opportunities for leading consumer electronics businesses from China and abroad to view and showcase the latest technologies and cutting edge products. The annual event is also a forum for communication between Chinese companies and their international partners

China Manufacturing Expands a Fourth Month, PMI Shows

By Bloomberg News July 1 (Bloomberg) -- China's manufacturing expanded for a fourth month as a 4 trillion yuan ($585 billion) stimulus plan and record bank lending revive the world's third-largest economy.

Carlyle Group Raises $1.04B For New Asian Growth Fund

Carlyle Group on Tuesday said it raised $1.04 billion for a new fund targeting investments in fast-growing Asian companies, finding appetite among pension funds and financial institutions for exposure to China and India.The new fund is a bet on the resilience of Asia's underlying economic growth in the face of a global downturn. Focused primarily on China and India, Carlyle's team is looking to pick companies that have emerged from the financial crisis relatively unscathed and with potential for rapid growth.'This is a much better time for investing,' said Wayne Tsou, head of Carlyle's growth team in Asia, in an interview. 'After this economic stress test we're seeing which firms will be able to succeed.'The new Carlyle Asia Growth Partners IV is about 50% bigger than the previous Asia growth fund, which closed at $680 million in June 2006. Tsou says over two and a half years that fund invested in 22 companies in the region. Carlyle hopes to put the new fund's $1.04 billion to work over three to five years.Indicative of Carlyle's focus on domestic demand in China, the firm has already made its first investment with the new fund, a $20 million deal to invest in Chinese women's fashion retailer Shenzhen Ellassay Apparel Industrial Co.Carlyle was one of the earliest private equity investors in Asia, opening up its first office in Hong Kong in 1998. It also operates buyout and real-estate funds targeting Asia.'Asia remains a core focus of our global business, and Carlyle continues to devote more resources to China and India,' said Carlyle founder David Rubenstein in a statement.Asia's private equity scene has been dominated by global firms. Near the peak of the market in 2007 and 2008, a rush of capital from hedge funds and investment banks into private equity deals pushed valuations sky high. They have since fallen as the hot money has dissipated.Limited partners, the investors in private equity funds, are also becoming more selective, says Tsou. Many big government pension funds and other limited partners have set up offices in Asia to keep closer watch on local developments and are eager to 'kick the tires' by visiting portfolio companies, he says.Tsou says most of the companies in Carlyle's Asia growth portfolio are growing at rates of 20% to 50% in profit and revenue despite the economic downturn.Still, Carlyle's Asia growth fund investments in Asia haven't always gone smoothly. Carlyle saw its $25 million investment in China's Credit Orienwise Group Ltd. sour as the overleveraged credit guarantee firm struggled with losses and the company admitted to fraud taking place at a unit.Carlyle's Tsou resigned from the board, but is still working with management to address the issues. Tsou said Credit Orienwise's prospects are 'improving.'Still, for growth funds an occasional soured deal can be balanced out by outsized returns on the rest of its portfolio. Carlyle's growth team has had several big wins in the past including an exit from Nasdaq-listed Chinese online travel firm Ctrip.com International Ltd. and its ongoing investment in Claris Lifesciences Ltd., a pharmaceutical company in India.'Investors were very apprehensive about emerging markets before,' said Tsou. 'But China and India are now a less well-kept secret as investors begin to understand the risk-adjusted returns of growth funds.'

China may invest $10 billion in Brazil state oil company

China may invest $10 billion in Brazil state oil company, Patrobras, on terms that the Latin American company cannot help but find attractive. In advance of the investment, China has secured 100,000 to 160,000 barrels of crude a day, to be sold to the world’s most populous nation at market prices. The parties have not said as much, but the transactions are certainly related. Brazil may end up investing over $170 billion in drilling for off-shore oil reserves. The nation’s deep water Tupi subsalt field may be one of the largest pools of crude in the world

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Opportunities in adversity - Improving your performance - Ernst & Young - Global: "Business initiatives are being accelerated"

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Arcelor Shifts Focus to Emerging Economies

ArcelorMittal, the world's largest steel producer, is shifting focus from the developed world to lower-cost developing regions, acknowledging that growth prospects are dimmer in North America and Europe.

'We must recognize that these are not long-term growth markets. It will be China and other emerging markets that will drive future growth for our industry,

The World’s Largest Security ExpoCPSE2009

The World’s Largest Security ExpoCPSE2009 will enjoy larger exhibition areas, more booths, and exhibitors from more countries and regions. Specifically, the exhibition area wil amount to 90,000m2 and booth number to more than 4000. From the aspect of exhibition areas, CPSE can be listed as one of the three largest exhibitions in the world together with ISC West and IFSEC. In the coming November, over 1000 exhibitors from 20 countries and regions composed of best Chinese manufacturers and international brands will turn up at CPSE2009. The show is looking at 55,000 professional visitors.

Date: 1-4 Nov 2009 (Every Odd Year)Location: Shenzhen Convention & Exhibition Center, China90,000 m2 Exhibition Area1,000 Exhibitors From 20 Countries55,000 Professional Visitors From 90 CountriesConcurrent Events:The CPSE Golden Excellence Awards 2009CPS Forum 2009- The 8th China Public Security ForumThe Public Security Academic ForumThe China Intelligent Transportation ForumThe Fire Science ConferenceThe Asia Anti-Counterfeiting Annual Meeting

architecure

Coca-Cola, GE, Wal-Mart may seek China IPO, says UBS AG

Coca-Cola Co., General Electric Co. Wal-Mart Stores Inc. are among U.S. companies that may seek to list on China's stock exchanges, UBS AG said.

World Bank raises China forecast The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is

The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is doing better than expected.

Brazil, Russia, India and China

Brazil, Russia, India and China, the leading emerging economies known as the BRIC countries, will be the best places to invest, Goldman’s O’Neill said, because of their “positive dynamics that are not dependent on the benefits of monetary policy.”

Swiming Center

Olympic Center

Grand National Performing Center

cctv

shanghai gloal finicial center

jiang mao building

Advantage of outsourcing to China

Advantage of outsourcing to China

Find talent people and state of art technology

Proven success as an outsourcing provider

Meet or exceeded expectations in cost savings, quality, supplier flexibility and transparency

faster speed to market

Establishing and managing outsourcing functions

Enhance further its ability to improve market share and growth

Foreign players invited aboard railway express

The Ministry of Railways will spend an estimated 3 trillion yuan (HK$3.4 trillion) to expand and upgrade its rail network over the next five years. While much of this funding will come from the government or through debt, China will still need up to 1 trillion yuan from private and foreign sources to ensure that projects stay on schedule. The country will increasingly need to turn to these sources to fill the gap, opening up enormous opportunities for them as well as for rail equipment and systems makers.

China could build a "green economy" over the next two decades

Technologies commercially available today could help China to reduce its projected oil imports by up to 30 to 40 percent, cut demand for coal by 40 percent, and reduce greenhouse gases by up to 50 percent in 2030. China could also emerge as a global leader in green technologies such as electric vehicles.

The importance of staying ahead of the game

Nearly 1 billion of China's inhabitants will live in urban centers. This huge market will experience rising incomes and increased gross domestic product (GDP), and a significant growth in fixed-asset investment.

Urban China will account for around 20 percent of global energy consumption and up to one-quarter of the growth in oil demand.

Up to 170 cities could meet the planning criteria for building new urban transit systems - more than twice the current number in Europe.

China will have paved up to 5 billion square meters of road and laid up to 28,000 kilometers of metro rail.

outsourcing destination

China currently accounts for less than 10 percent of the global market for the offshoring and outsourcing of services, which reached more than US$60 billion in 2007. While the industry has expanded rapidly in recent years, it is not growing quickly enough to achieve China’s aspiration of becoming a leading global offshoring and outsourcing destination

China to have the world's fourth-largest number of wealthy households by 2015

By 2015, China is expected to have more than 4 million wealthy households, making it the world's fourth-largest country in terms of its number of wealthy households after the United States, Japan, and the United Kingdom, says a new report by global management consultants McKinsey & Company. The number of wealthy households–defined as urban households with annual income in excess of 250,000 renminbi–reached 1.6 million in 2008.

IBM opened a worldwide rail innovation center in Beijing, China

IBM opened a worldwide rail innovation center in Beijing, China. Already members include Tsinghua University, Michigan Technological University, Professor Joseph M. Sussman of MIT, Railinc, RMI, Motorola, Sabre, the California High Speed Rail Authority, and Olivier G. Maurel, CIO of ILOG (an IBM company) and former CIO of SNCF in France.

They’ll work on are advanced data analytics for scheduling and predictive maintenance, cell phone enabled passenger service, wireless sensors on bearings and axles, digital video systems that ensure a clear track ahead and automatically respond to danger — to create rail systems that will support economic vitality, improved quality of life through reduced road congestion, and environmental sustainability.

China Telecoms market

China surpassed Japan in 2004 as the market with the second most broadband lines after the US. In mid-2008. China became the largest broadband market in the world, finally passing the US. Going into 2009, China's broadband subscriber population passed the 80 million milestone. China has also become the top DSL market in the world. Despite this huge subscriber base, penetration remains comparatively low, meaning there is still much room for growth. China tied the US as the online population leader in early 2008 as the number of Internet users soared to 221 million. Such explosive growth in Internet use comes despite government efforts to block access to material considered subversive or pornographic. Entering 2009, the online population reached 300 million and growth showed little sign of slowing.

City of Dreams in Macau Opens with DEQ System's EZ Baccarat Tables

Quebec-based DEQ Systems Corp., a provider of table game bonusing, jackpot and loyalty solutions, announced that five of its EZ Baccarat no commission baccarat with Dragon 7 side bet have been installed and are in operation at Melco Crown Entertainment's newest property in Macau, City of Dreams. City of Dreams operates an estimated 450 tables of which 80% are baccarat. EZ Baccarat is a method of accelerating the speed of baccarat by eliminating the commission.

Eldorado Acquires Gold Field's 19.9% Stake in Sino Gold Mining Venture

Vancouver-based Eldorado Gold Corporation announced that it has entered into an agreement to acquire 57.9 million shares or 19.9% of Sino Gold Mining Limited, an Australian public company focused on the exploration and production of gold in China. Sino Gold has two operating mines, Jinfeng and White Mountain, in China. Eldorado will acquire the shares from South-Africa’s Gold Fields Limited in a private transaction in exchange for 27.8 million Eldorado shares. Eldorado is a gold production, exploration and development company with businesses in Brazil, China, Greece and Turkey.

Chinalco confirms deal breakup with Rio Tinto

BEIJING, June 5 -- Aluminum Corp. of China, or Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped the proposed 19.5 billion U.S. dollars of investment by Chinalco, and Rio Tinto would pay a break fee of 195 million U.S. dollars to the Chinese aluminum maker.

China Comes to the Rescue for Corporate America

It's not just the U.S. government that's been turning to China for a helping hand to weather the financial storm.Troubled American companies also look to China, for its vast domestic market of 1.3 billion potential customers.

China Investment Corp., is also showing confidence in another established American brand. The investment arm of China's sovereign wealth fund will be the main buyer of Morgan Stanley's $2.2 billion common stock offering, buying 44.7 million shares (of a total 80.2 million shares) for $1.2 billion. That will bring CIC's stake in the Wall Street bank back up to about 9.9%, the same as its original stake in Morgan Stanley, which was purchased in 2007 for $5.6 billion. (CIC's stake was diluted after Morgan Stanley sold shares to Mitsubishi UFJ Financial Group last fall.)

Hummer sport-utility brand to Chinese equipment maker

General Motors Corp. said it plans to sell the Hummer sport-utility brand to Chinese equipment maker Sichuan Tengzhong Heavy Industrial Machinery Co.

China is the biggest foreign owner of U.S.

BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.
A major goal of Geithner's maiden visit to China as Treasury chief is to allay concerns that Washington's bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high.
"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

world's largest steel producer and the biggest importer of iron ore

China is the world's largest steel producer and the biggest importer of iron ore, representing 45% of all imports in 2007.The industry dynamics is now turning positive, as China begins to rebuild iron-ore inventories. China’s iron imports rose 33% in April, boosting shipping activity in the past three weeks. The Baltic Dry Index, which measures dry bulk shipping rates on 40 routes across the world, hit a 7-month high on Tuesday. The index has gained 68% since the April lows, after a 92% plunge last year.

a provider of IP-based telecom equipments

UTStarcom, Inc. (NASDAQ: UTSI), a provider of IP-based telecom equipments, to receive further demand for its IPTV solutions as mobile TV systems become increasingly popular in China and India due to nationwide deployments of 3G wireless networks.

China's New Geography

Growth is moving west along the length of China as the export-oriented eastern belt stumbles. The question for investors is how to play this shift in the economic geography.While per-capita gross domestic product in China's central and western regions is still 50% to 60% of that in the eastern provinces, the momentum is with the west.That is in part due to the effects of China's fiscal stimulus.

The central and western regions are taking the lion's share of the $586 billion in extra spending by central and local governments, getting about 62% of the spending so far, according to Nomura Research.This is already showing up in faster fixed-asset-investment growth in these areas than in the eastern region and seems to be underpinning higher consumption. The sharp rise in passenger-vehicle sales in China this year is being led by provinces to the west like Shaanxi, Ningxia and Tibet.Clear beneficiaries of this trend will be companies with a strong presence in western China. Morgan Stanley's picks include building-materials company Sinoma International Engineering, which has 60% of its capacity in that area, and auto company Dongfeng Motor Group, which has 50% of its distribution capacity there.Even companies that don't do much business outside eastern China now could benefit. In insurance, Ping An Insurance (Group) Co. of China is way behind China Life Insurance in central and western China. But market penetration for the sector is still so low in these two regions that the potential for growth is clear.One caveat: Moving into China's poorer areas may shrink profit margins as companies are forced to cut prices. But for firms starved of growth in the eastern provinces, the opportunity to expand will be welcome.

Multinational Companies: Beijing Wants You

Joining the competition between Hong Kong, Singapore and Shanghai, Beijing is seeking to boost its attractiveness as a magnet for Asian corporate headquarters. The Beijing municipal government recently introduced a new set of preferential policies for multinational companies that set up their regional headquarters in the Chinese capital, Xinhua reports (in Chinese here).According to the new rules, which will take effect next month, foreign companies that set up their regional headquarters in Beijing will enjoy preferential rental policies and receive financial support from the municipal government during their start-up periods.

Most competitive banking IT solutions provider

XIAMEN, China, May 7, 2009 /PRNewswire-Asia via COMTEX/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced that it has signed a contract to upgrade the Enterprise Customer Information Facility (ECIF) for a leading joint-stock customer in China.
The ECIF is a centralized enterprise-class data warehouse system which collects and maintains comprehensive and real-time information of the bank's nation-wide customers. As one of the most mission-critical applications of the bank, it provides the linkage between all of the accounts that belong to a customer, and supplies customer information to many other application systems such as Customer Relationship Management (CRM), call centers, teller and E-banking systems, as well as Decision Support Systems (DSS).

China Growth

China’s growth prospects have improved from three months ago,The world’s third-largest economy will expand 7.5 percent this year, according to the median estimate of 14 economists surveyed by Bloomberg News, up from a 7.1 percent forecast in February. Gross domestic product expanded 6.1 percent in the first quarter, the slowest pace in almost 10 years.

Solar Space (TSL)

Chinese integrated PV solar maker, Trina Solar Limited (NYSE:TSL) has reported less than was expected for its first quarter 2009. The net loss per fully diluted ADS was -$0.42, compared with a loss of -$0.03 in the fourth quarter of 2008. Revenues also fell sequentially, from $216.3 million to $132.1 million. Analysts had been expecting a net loss of -$0.08 per ADS on revenues of $142.5 million.

Battery Maker

Chinese lithium-ion battery maker Advanced Battery Technologies, Inc. (NASDAQ: ABAT) will sell $10 million worth of preferred stock and warrants to three institutional investors. The warrants, which are 180-day Class B Warrants, are worth $10 million, if exercised.

New Refinery in China

The Kuwaiti state oil company, Kuwait Petroleum Corporation, and China Petroleum and Chemical Company, known as Sinopec, (NYSE: SNP) are well along on plans to build a new 300,000 barrel per day refinery in Guangdong province. The total cost of the project is estimated at $8-$9 billion.

Kuwait Petroleum will own 30% of the project, Sinopec will own 50%, and Royal Dutch Shell plc (NYSE:RDS-A) and Dow Chemical Company (NYSE:DOW) will each own 10%.