China Direct

Asia helps Tesco to 6.8% sales growth in 2012

CBI member Tesco recently released its interim management statement for the third quarter of 2012, reporting an improved quarter in Asia, with total sales in the region up 6.8% at constant rates.

In China, Tesco opened two new stores in the third quarter and plans to open a further seven in the next month, in line with the retailer's plans to maintain its annual opening programme at a similar level to last year in this strategically important market.

Please click here to read the full results for Tesco.

Jones Lang LaSalle announce Guangzhou city's largest retail mall transaction

 

 

[Image courtesy of www.joneslanglasalle.com]

 CBI member Jones Lang LaSalle recently facilitated Guangzhou's largest shopping mall transaction when China Overseas' Everbright Mall, for which Jones Lang LaSalle is the Sole Leasing Agent and Retail Asset Manager, was sold to Pramerica Real Estate Investors for US$318 million.

Located in Guangzhou's Haizhu District, Everbright Mall serves approximately 300,000 local residents, and is comprised of high-end retail space as well as a supermarket, a cinema, and restaurants.

Jex Ng, Managing Director of Jones Lang LaSalle Guangzhou and Shenzhen, said, "The historic deal was concluded after more than one year of negotiations. It is the largest retail mall transaction ever recorded in Guangzhou as well as the city's first investment acquisition of commercial real estate by a foreign institutional investor."

Tom Liu, Head of Investment at Jones Lang LaSalle Guangzhou, said, "This transaction reinforces the positive outlook of Guangzhou's retail sector. We believe the investment market is still in its infancy, Guangzhou will continue to attract more foreign investors into its fast-growing commercial real estate sector."

Click here to read the full press release by Jones Lang LaSalle.

Tesco's green China goals - every little helps

 

[Image courtesy of www.tesco.com]

With the support of China's Ministry of Commerce (MOFCOM), CBI member Tesco recently held its second Retail Sustainable Development Forum in China in Suzhou.

Tesco has set the target of becoming a zero carbon business by 2050. To meet that target, the retailer plans to halve the emissions from its stores by 2020 and in its distribution network by 2012/3. Tesco also aims to work with its suppliers to reduce the emissions in its supply chain by 30% by 2020.

In China, Tesco is actively supporting retailers in their efforts to go green, developing green and low carbon distribution networks, and advocating the concept of green consumption among customers.

As part of its sustainability efforts in the country, Tesco launched its first green logistics centre in China last year. Located in Jiashan in Zhejiang province, the 55,000 square metre facility features an integrated energy-efficient design, which incorporates an extensive range of green technologies that use renewable energy sources and reduce energy and water usage.

Employing over 26,000 people and serving over four million customers per week in China, Tesco currently has 110 hypermarkets across 11 provinces and 14 small trial express stores in Shanghai.

Please click here to read the speech delivered by Lucy Neville-Rolfe, CMG, Executive Director, Corporate and Legal Affairs at Tesco, at Tesco's Retail Sustainable Development Forum in China.  

Atkins win landmark development project in Zhuhai, Guangdong Province

 

[Image courtesy of www.atkinsglobal.com]

CBI member Atkins was recently selected by Chinese developer Huarong Real Estate to design the Huarong Hengqin Tower in Zhuhai in southern China's Guangdong province.

[Image courtesy www.atkinsglobal.com]

The mixed-use development will be one of the first buildings to be constructed as part of the masterplan for the new economic zone of Hengqin Island District, and will contain accommodation for a five-star hotel, international Grade A office space, and retail facilities.

Ian Milne, Atkins' Design Director, said, "The towers are orientated to provide hotel guests and office users with stunning views of significant landmarks in Macau, while respecting the development potential and view corridors of adjacent sites."

Please click here to read the full press release by Atkins.

National People's Congress 2012 - an analysis

 

[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.

Download NPC_2012

Thank you.

UK Company Intercontinental Hotels Group building success in China

 

[Image courtesy of www.ihg.com]

CBI member InterContinental Hotels Group (IHG) recently released its preliminary results for the year to 31 December 2011, reporting outstanding 26% growth in operating profit driven by brand outperformance and scale efficiencies.

IHG achieved 6.2% growth in revenue per available room (RevPAR) in 2011, and continued to outperform the industry in key markets such as China and the U.S. Total gross revenue from hotels in IHG's system totaled $20.2 billion, up 8%.

Richard Solomons, Chief Executive of IHG, said, "We are strengthening our business through developing our brand portfolio supported by targeted investment. We also ensure that our hotels with our best in class delivery systems are known for industry leading guest experiences delivered by talented people and dedicated owners.

"Looking ahead, in spite of considerable uncertainty in the Eurozone, IHG is well positioned globally to benefit from positive long-term industry trends and, in particular, growing demand in emerging markets. Our 15% dividend growth reflects the confidence we have in our ability to deliver high quality growth through market share and margin gains, due to our preferred brands, geographic diversity, robust balance sheet, and scalable business model."

In Greater China, IHG's RevPAR increased 10.7% with rate growth of 5.9%. IHG's revenue increased 15% to $205 million and operating profit increased 24%, reaching $67 million. IHG opened 8,084  rooms in Greater China last year, raising its open rooms in the region to 55,182 and strengthening the company's market leading position.

Openings included four InterContinental hotels and 11 Crowne Plaza hotels, demonstrating the strength of these brands in Greater China. In addition, IHG reported signings of 12,112 rooms last year, bringing its pipeline in Greater China to 49,768 rooms.

Please click here to read the full press release by IHG.

CBI Members - date for diaries - RICS Beijing Conference 28-29 March

 

[Image courtesy of www.rics.org]

CBI member The Royal Institute of Chartered Surveyors (RICS) will host a conference in Beijing titled "Fit for the Future: A grand transformation for property, land, and construction" on 28-29 March 2012 at the JW Marriott.

The international conference will study the major emerging themes in the land, property, and construction industry.

Speakers will include:

     • His Excellency Mr. Sebastian Wood, British Ambassador to the People's Republic of China
     • Douglas Brooks, Assistant Chief Economist, Asia Development Bank
     • Mao Da Qing, Executive Vice President, Vanke
     • Rong Ren, Managing Director and Chief Executive Officer, Harvest Capital
     • Martin Ecknig, Senior Vice President, Siemens Ltd. and General Manager, Siemens Real Estate

Click here for the full event details.

Date for UK exporters diaries - 29 March 2012 Kunshan Expo

[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.

CBI Member RICS seeking N Asia Regional Director

 

[Image courtesy of www.rics.org]

CBI member the Royal Institution of Chartered Surveyors (www.rics.org) is seeking a North Asia Regional Director.

Kindly refer to job description, details and contact information below.

Thank you.

China Direct

 

 

North Asia Regional Director – Royal Institution of Chartered Surveyors

Beijing, Shanghai or Hong Kong

 

The RICS are seeking a Regional Director to be the face of the RICS brand in North Asia; responsible for developing RICS brand as the benchmark Chartered professional qualification for professionals in land, property and construction in the region, and establish the RICS as the leading professional body for the real estate and construction sector, representing public interest.

The role will require the Director to work on achieving recognition of RICS standards by key stakeholders and institutionalization of these standards across the industry by making effective representation to the Government and the industry at large, establishing RICS as the thought leader on key policy issues representing public interest.

 

Please apply with your CV to alexandravere@ruyiconsulting.com

T: +852 2248 3015  

UK company Intercontinental Hotels Group (IHG) builds its Hainan island business

 

[Image courtesy of www.ihg.com]

CBI member InterContinental Hotels Group (IHG) recently signed a two-brand hotel management contract with Yanlord Land Group Limited to further strengthen its position in Sanya, one of China's most popular resort destinations.

Scheduled to open in 2014, the new Crowne Plaza Sanya Haitang Bay and Hotel Indigo Sanya Haitang Bay complex will mark a strategic step for both companies into the newly developed Haitang Bay in Sanya.

The partnership between IHG and Yanlord Land Group is a win-win strategic move for both companies, and will reinforce IHG's position in China's growth markets, leading the trend for resort development in the hotel industry.

Keith Barr, chief executive officer, IHG Greater China, said, "I truly believe that the reason we have gained our owners' trust and confidence in China is because they love our brands, trust our extensive network, and more importantly appreciate the financial returns we have been delivering to our partners for almost three decades. One of our strategies to continue and even accelerate our quality growth in China is to partner with large-scale and influential real estate developers like Yanlord Land Group."

Zhong Sheng Jian, chairman and chief executive officer of Yanlord Land, said, "We are glad to have joined with IHG again to develop hotels in China's emerging resorts destination. We have great confidence in IHG's competitive advantages, and value their brands, system, and management expertise to consistently deliver the best hotel experience for guests from home and abroad."

Please click here to read the full press release by IHG.