[Image courtesy of www.apcoworldwide.com/china]
China Direct would like to thank CBI member APCO for kindly providing the following analysis of the recently convened annual National People's Congress in Beijing.
For more information and analysis please download below.
Thank you.
[Image courtesy of www.news.cn]
On Monday, China opened the Fifth Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing.
Nearly 3,000 NPC deputies from across the country attended the opening meeting together with top Party and state leaders.
Chinese Premier Wen Jiabao delivered a government work report at the opening meeting covering major targets for 2012, fiscal and monetary policies, price control, agriculture, economic restructuring, nuclear power, marine development, people's wellbeing, spending on education, cultural development, etc.
Highlights included:
• Major targets set for 2012 included GDP growth of 7.5%, the creation of nine million new jobs in towns
and cities, growth of the volume of total exports and imports by about 10%, etc.
• The broad money supply is projected to increase by 14%.
• RMB 1.23 trillion will be allocated for agriculture, rural areas, and farmers, RMB 186.8 billion more
than last year.
• China will formulate and implement a strategy for marine development.
• Spending on education will account for 4% of GDP.
• The government will complete five million units of low-income housing and start construction on more
than seven million units.
Please click here to read further highlights of the government work report and here for additional media coverage.
[Image courtesy of www.mckinsey.com]
CBI member company McKinsey has recently launched an exciting series of podcasts ranging from topics such as the Twelfth Five Year Plan to China's insatiable thirst for energy on its new China website at http://www.mckinseychina.com/podcasts
Please note that the series can also be downloaded from iTunes under "McKinsey on China".
For more information or any queries please contact Glenn Leibowitz at: china@mckinsey.com
China Direct would like to thank McKinsey for sharing this information with our CBI members.
[Image courtesy of www.nottingham.ac.uk]
CBI member The University of Nottingham's Ningbo campus in China recently received nine million RMB (about £1 million) in funding from the City of Ningbo for an ambitious project to produce at least 25 manufacturing research engineers and 25 patents for new technologies over the next five years.
The funding represents the highest amount ever awarded to The University of Nottingham Ningbo China (UNNC). The University's innovation team will work with at least 50 companies in Ningbo to invent low-carbon technologies. Much of the team's focus will be on the automotive industry in Ningbo.
Professor Sam Shen, Registrar at UNNC, said, "This project is vitally important for the economy of Ningbo and China in general. The government has prioritised green technologies in its latest five-year plan.
"The city of Ningbo, which is a key industrial area in China, wants to take the lead in scientific and technological innovation that helps deliver on national goals to reduce carbon emissions and at the same time generate further economic growth.
"The project's funders and leaders also have international aspirations. Our innovation team will play an important role in developing scientists in China who can create world-leading technologies and make valuable contributions to international scholarly research."
Professor Nabil Gindy, UNNC's Vice-Provost for Research and its Graduate School dean, said, "This project isn't just about research; it is about talent-building. The concept is to create a number of researchers with critical mass to work in areas that the Chinese government considers important. The emphasis will be on nurturing young scientists."
Professor Gindy also noted, "We will be working closely with businesses to look at how companies can make money, and quite possibly even more money than ever, but reduce the environmental impact of what they do.
"This project is about job creation and improved productivity as much as it is about advances in science and technology."
Please click here to read the full press release by The University of Nottingham.
On December 24, 2011, China’s Ministry of Commerce and National Development and Reform Commission released the Catalogue for Guiding Foreign Investment (2011 Revision) (“Catalogue”), the nation’s principal document for regulating foreign investment into China.
As expected, the final Catalogue promotes investment in the strategic emerging industries identified in China’s 12th Five-Year Plan (“12th FYP”) and removes a number of investment barriers previously applicable to foreign investors. The catalogue took effect on January 30, 2012.
China Direct is grateful to Covington & Burling LLP for kindly sharing their summary with CBI members.
[Image courtesy of www.ukti.gov.uk]
The China Chamber of International Commerce and the Jiangsu Provincial People's Government will host the China International Import Expo on 29-31 March at the Kunshan Convention & Exhibition Centre in Jiangsu province.
The Expo will feature approximately 50,000 square metres of exhibition space. Conferences during the Expo will include an international summit forum, seminars and lectures, and new product recommendation which will give exhibitors the opportunity to introduce their products and services to Chinese importers and end users.
The Expo will primarily exhibit products and technologies in the following sectors: machinery & equipment, information technology, environmentally-friendly products, new materials, & other high-tech products, and brand consumer goods.
Please click here for full details on the Expo. If you have any other queries please contact the UKTI team in Shanghai here.
[Image courtesy of www.cbi.org.uk]
CBI Director General John Cridland CBE was interviewed by the Global Times during his recent visit to China.
Despite the challenging economic environment there are huge opportunities for UK business to increase its trade with China.
John Cridland shares his thoughts on UK business in China, opportunities for Chinese Foreign Direct Investment (FDI) to the UK and highlights the outstanding success of CBI members Intercontinental Hotels Group and Jaguar Land Rover in China.
Please click here for the interview, published today in the Global Times newspaper.
CBI Director General, John Cridland CBE, is visting China from 10-12 October. He will meet Chinese government officials in Beijing and engage with member companies throughout his trip. In addition to calls in Beijing he will travel to Shanghai, Shenzhen and Hong Kong.
If you would like to learn more about Mr. Cridland's trip please contact the CBI's Beijing office directly via: ben.cooper@cbi.org.uk
[Image courtesy of www.ipa.co.uk]
CBI member The Institute of Practitioners in Advertising (IPA) recently launched a research and development service for Chinese brand owners aiming to go global.
The new consumer research and development service is called the IPA 'International Brand Incubator' and draws on the expertise of UK-based planners and creators within IPA member agencies to provide Chinese companies with the opportunity to test the consumer appeal of their brands outside Asia.
Commenting on the new IPA initiative, Janet Hull, IPA Director of Marketing, said, "This is the perfect time for Chinese companies to take their brands global via the UK. The relative strength of the Chinese economy makes brand investment highly efficient. All the economic indicators show that those companies that invest in brands in an economic downturn reap extraordinary rewards in terms of market share gain and profitability."
Sebastian Wood CMG, Her Majesty's Ambassador to the People's Republic of China, said, "The UKTI team in China welcomes this initiative and is available to support the internationalisation plans of Chinese brand owners who are seeking to use the UK as their springboard into new global markets."
Please click here to read the full press release by the IPA.
[Image courtesy of www.tesco.com]
Leading UK retailer and CBI member Tesco recently launched an offshore renminbi bond in Hong Kong, raising 725 million yuan ($114 million) to finance its expansion plans in China.
Tesco hired fellow CBI members HSBC and Standard Chartered to help it sell the three-year bonds in Hong Kong. According to Tesco, the bond was the first of its kind to be issued by an international retailer.
Commenting on Tesco's decision to issue bonds denominated in the Chinese currency, Laurie McIlwee, Chief Financial Officer for Tesco, said, "China is an important market for us and represents a great growth opportunity. This is a new and innovative way of funding our business as it continues to grow and demonstrates our commitment to China."
Please read more here and here.
