[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.freshfields.com]
China Direct would like to congratulate CBI member Freshfields Bruckhaus Deringer for winning four prestigious legal awards from three different legal organisations in Asia this month.
Please click here for more information.
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.pinsentmasons.com]
CBI member Pinsent Masons recently announced that it had advised Quam Capital Limited, the listing sponsor, and the underwriters on the HK$70 million (£5.7 million) placing of shares and listing of Noble House (China) Holdings Limited, the owner and operator of a premium restaurant chain in mainland China, on the Growth Enterprise Market of the Hong Kong Stock Exchange.
Commenting on the deal, Pinsent Masons Corporate Partner Kenneth Chong said, "We are delighted to have assisted Noble House with the IPO. Pinsent Masons has been involved in a growing number of listings in Hong Kong. The Hong Kong market is increasingly receptive to small to mid-sized deals as a result of the challenging economic environment, and I expect that this trend will continue in 2012."
Please click here to read the full press release by Pinsent Masons.
[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.
[Image courtesy of www.euccc.com.cn]
Yesterday, the European Union Chamber of Commerce in China (EUCCC) released its 2011/2012 Position Paper, which provides an overview of the views of many European companies doing business in China.
The Position Paper is the product of six months of consultation, which involved hundreds of companies and individuals from European businesses operating across China.
The report includes chapters on a wide range of sectors, including aviation, construction, information and communication technology, logistics, maritime transport, travel, banking & securities, insurance, private equity, etc.
The report also includes chapters on numerous cities and regions across China, including Beijing, Chengdu, Chongqing, Nanjing, the Pearl River Delta, Shanghai, Shenyang and Tianjin.
Highlights from the 2011/2012 Position Paper include:
• China's strategic importance for global companies is rapidly increasing.
• Key goals outlined in China's 12th Five-Year Plan (2011-2015) such as upgrading the industrial
sector, developing the service sector and encouraging innovation and green development match the
strengths of European companies in managerial know-how, the provision of services and green
and advanced technology.
• The Position Paper brings together a significant number of recommendations for both Chinese and
European policymakers.
The CBI, together with the China-Britain Business Council (CBBC) , is organising the launch of the Position Paper in London on 22 September, which will be hosted by leading global insurance broker and CBI member Willis Group.
Pleease click here to read the Executive Summary of the Position Paper and here to access the full report.
China Direct is back after a short break and would like to share with its members the latest information regarding China's new Social Insurance Law which came into effect on 01 July 2011.
Please download the briefing below which was kindly provided by CBI member Simmons & Simmons
[Image courtesy of www.rsagroup.com.cn]
Leading global insurer and CBI member RSA recently announced that its wholly owned subsidiary in China, Sun Alliance Insurance (China) Limited, has obtained approval from the China Insurance Regulatory Commission (CIRC) to open a branch office in the city of Nanjing in Jiangsu Province.
The Nanjing branch office is RSA's second branch in China. RSA China is headquartered in Shanghai and also has a branch office in Beijing.
Commenting on the regulatory approval for the Nanjing branch office, Stuart Purdy, CEO of RSA Asia & Middle East, said, "This approval is a major milestone for RSA as we expand our reach across Eastern China and it will provide a strong platform for future growth."
Greg Otterson, CEO of RSA China, said, "This is fantastic news for our business in China and represents a significant opportunity for RSA, with Jiangsu as one of the largest non-life insurance markets in the country. We will now be able to provide a full range of RSA products to customers across the province from our base in its capital, Nanjing."
Please click here to read the full English-language press release by RSA and here for the Chinese-language version.
[Image courtesy of www.besteducationinchina.com]
Chengdu City - Living in the West?
A fertile business environment with the Sichuanese talent for good living is helping Chengdu to become a more attractive option for both investors and employees.
Chengdu, capital city of Sichuan province in SW China, is often regarded as one of the most attractive and liveable cities in China for Chinese and foreign businessmen and expatriates alike.
For an update on what Chengdu can offer your business - and family - please read on below.
Download Chengdu City - Overview July 2011
China Direct would like to thank both Shanghai Business Review and Ms. Kirsten Allen for sharing this article.
Yesterday, the European Chamber of Commerce in China (EUCCC) released the results of its 2011 Business Confidence Survey.
The EUCCC achieved a record response rate of 44% of its members, with nearly 600 European companies having completed the survey. The Chamber identified the following three key messages arising from the results of its survey:
1. China is an increasingly strategic market.
2. Competition in China is increasing.
3. Companies are concerned about China's regulatory environment.
Other key highlights include:
• 79% of respondents have an optimistic business outlook for growth in China.
• 59% of respondents are planning new China investments, up from 48%.
• 78% of respondents reported an increase in revenue over last year.
Please click here to read the full EUCCC Business Confidence Survey and here and here for additional media coverage.
China Direct would like to thank Ben Cooper of the CBI's Beijing office for preparing this summary.
