[Image courtesy of www.europeanchamber.com]
Earlier this week the European Chamber of Commerce in China (EUCCC) released its European Business in China Business Confidence Survey (BCS) 2012.
Conducted by the EUCCC in cooperation with Roland Berger Strategy Consultants, the survey provides an annual snapshot of European companies' successes and challenges in China. 557 respondents completed the survey this year.
Please click here to access the full report.
[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.
[Image courtesy of www.pfizer.com]
CBI member Pfizer recently released its results for the first quarter of 2012, reporting revenues from its Emerging Markets unit up 9% operationally in comparison to a year earlier.
The strong performance was primarily due to continued volume growth across the product portfolio, particularly in China, Russia, and Mexico, as a result of more focused, targeted promotional efforts for key products.
Pfizer's Nutrition unit revenues increased 8% operationally compared to a year earlier, driven by the continued benefits from successful new product launches, increased promotional activities, and overall strength in key markets, most notably China.
Please click here to read Pfizer's full results for the first quarter.
[Image courtesy of www.gkn.com]
CBI member GKN Driveline has continued to expand its manufacturing footprint in China, highlighted by the recent opening of its seventh production facility in the country.
The new 13,900 square metre plant in Changchun will have the capacity to build one million sideshafts per year, and a new 10,000 square metre expansion of the plant will increase its capacity to four million sideshafts within the next five years.
Forecasting vehicle production in China to reach 15 million units by 2014, GKN Driveline continues to regard China as a key growth market. The company's production capacity for constant velocity joint (CVJ) systems and all-wheel-drive (AWD) systems in China is expected to grow by 50% in the next three years.
GKN is also investing RMB 94 million to expand its research and development centre in Shanghai, which will lead to the development of prototyping facilities, as well as a materials and metrology capability, to allow products to be developed for the Chinese market.
Marc Vuarchex, Managing Director of GKN Driveline Asia Pacific, said, "China is a key market for our overall growth strategy. With our CVJ and AWD systems production along with our industry-leading electric-vehicle technology and plans to produce new, low-cost systems for China's small-car market, we will increase our number of employees by over 30% in China over the next four years."
Please click here to read the full press release by GKN.
[Image courtesy of www.jaguarlandrover.com]
CBI member Jaguar Land Rover (JLR) recently announced its highest-ever quarterly sales in China, with 17,997 vehicles delivered in the first three months this year, up 110% over the same period last year.
Jaguar delivered 2,098 units in the first quarter, up 156%, while Land Rover delivered 15,899 units, up 105%. The exceptional first quarter sales figures contributed to the conclusion of a successful fiscal year (April 2011—March 2012), which saw deliveries of 52,032 units, up 76% over the fiscal year of 2010/2011.
JLR will be an active participant in the upcoming Beijing Auto Show, which will feature the global debut of a new XJ model and the China debut of the Jaguar C-X16 Concept as well as the world premiere of the Range Rover Evoque Victoria Beckham Edition.
Commenting on JLR's impressive performance in the first quarter, Bob Grace, President of JLR China, said, "This year's promising start has strengthened our resolve to carry our superb sales forward by relentlessly bringing the finest brand experience possible to our Chinese customers. At the upcoming Beijing Auto Show, Jaguar Land Rover will showcase a breathtaking model line-up that further demonstrates the rich brand connotations of our unique British heritage. We will endeavour to continue bringing more smaller-engine models to this highly valuable market—to satisfy the demands of our discerning Chinese customers."
JLR remains strongly committed to sustainable development in China, focusing on new technology, environmental protection, humanitarian aid, and education. With a total China fund amounting to nearly £7.75 million, JLR's CO₂ Offset Programme has 17 out of its 50 environmental projects located in China. In support of education, JLR recently established its second "Apprentice Training Programme" in Shanghai following the successful launch of the programme in Beijing last year. In addition, JLR recently sponsored the "Sport for All Programme" in partnership with the Shanghai Rugby Football Club, which promotes the healthy growth and development of children through physical exercise.
Please click here to read the full press release by JLR
[Image courtesy of www.ford.com]
CBI member Ford Motor Company recently announced that it will expand its manufacturing facilities in Chongqing in southwestern China.
Ford and its joint venture Changan Ford Mazda Automobile (CFMA) will invest approximately US$600 million to expand capacity in Chongqing by 350,000 passenger vehicles, raising total capacity in China to 950,000 vehicles annually.
The new investment will increase Ford's total investment in China to approximately US$4.1 billion.
Ford plans to introduce 15 new vehicles and 20 new engines and transmissions in China by 2015 as part of its plan to broaden its product portfolio and powertrain offering in China.
Joe Hinrichs, President of Ford Asia Pacific and Africa, said, "We are going further in China and across Africa. This expansion is an investment in Ford's long-term future globally, and will help us to achieve our goal of increasing worldwide sales by nearly 50% by mid-decade to about 8 million vehicles per year. With this additional investment and capacity expansion, Ford continues to lay the foundation for long-term growth in the world's largest automotive market."
Dave Schoch, Chairman and CEO of Ford China, said, "With a current growth rate of about 5%, the Chinese auto industry remains the biggest growth market in the world. Expanding our production capacity in Chongqing is a key part of our aggressive growth plans in China and Asia, and will allow us to bring more high quality, safe, fuel efficient, fun-to-drive vehicles from our global portfolio to Chinese customers."
Please click here to read the full press release by Ford.
[Image courtesy of www.pinsentmasons.com]
CBI member Pinsent Masons recently announced that it had advised Chinese sportswear group Naibu Global International Company on its AIM IPO with a market capitalisation of £68 million and raising £6 million of new money for the expansion of the group. Naibu is the first consumer brand from China to float in London, and its AIM IPO enables the group to strengthen its manufacturing capability.
Huoyan Lin, Naibu's Executive Chairman, said, "Our successful admission to AIM represents an important platform for the Company, and the Board believes that we can build substantially from our current position with the aim of growing the business further. We are delighted to have worked with Pinsent Masons as part of our IPO team."
Sean Page, Corporate Finance Partner at Pinsent Masons, said, "We are very pleased to have advised Naibu on its IPO in London. It is an exciting and fast growing business which operates at pace, through its strong brand presence in China and its highly developed distribution network."
Please click here to read the full press release by Pinsent Masons.
[Image courtesy of www.fujixerox.com]
CBI member Fuji Xerox recently won the "Outstanding Contribution Company to China IT Industry Green Development Award" from China Information World, an IT newspaper run by the China Electronic Information Industry Development Research Institute, as well as the China CSR Award, which was evaluated by more than 100 public organisations, media outlets, and specialists.
The Green Development Award was established in 2011, and Fuji Xerox (China) Ltd. was the only winner in the green development category, receiving recognition for its energy-saving products, recycling system for used products and cartridges, and "Print Green" campaign.
Also launched in 2011, the China CSR Award evaluated Fuji Xerox's environmental and educational initiatives in China, and Fuji Xerox was the only office equipment manufacturer among the 35 award-winning companies.
Please click here to read the full press release by Fuji Xerox.
[Image courtesy of www.cbi.org.uk]
A number of CBI members were busy raising their profile in China in March, engaging in many exciting activities across a wide range of industries.
Members covered include:
Please click here to access our latest briefing, which highlights the recent successes of 32 CBI members.
The briefing can also be accessed below:
Download CBI China, Celebrating CBI member success in China, March 2012
[Image courtesy of www.bnymellon.com]
CBI member BNY Mellon's subsidiary Eagle Investment Systems recently opened its first representative office in China. Located in Beijing, Eagle's new office will be led by Chief Representative John Legrand.
In addition, Tian Cheng was appointed as Eagle's Head of Business Development for China and Yong Wang was named as a product specialist for Eagle in China.
As its business grows, Eagle expects to expand its team in Beijing over the next three years.
BNY Mellon has been active in the region for more than 90 years and opened its first office in mainland China in 1994.
Commenting on Eagle's new office in Beijing, John Legrand said, "China is a key market for Eagle. Over the past four years, we have seen an increasing number of Chinese financial institutions place considerable attention on data management and increased efficiencies as central components of their risk management strategy. We therefore felt it was important to open an office in China to more closely align with Chinese institutions and provide them with the data management solutions they require."
Steve Lackey, Chairman of Asia-Pacific at BNY Mellon, said, "Eagle has a world-class reputation for innovation. Eagle offers technology and services, which address the required levels of transparency, scalability, and security financial institutions around the world need more than ever today. We are delighted to be able to offer Chinese institutions access to Eagle's local talent and expertise as well as products and services."
Please click here to read the full press release by BNY Mellon.
