China Direct

Alliance Boots announces China growth for 2011-12

 

[Image courtesy of www.allianceboots.com]

CBI member Alliance Boots recently released its preliminary results for the year ended 31 March 2012, reporting revenue up 18.4% to £23 billion and underlying profit after tax up 10.2% to £693 million.

Alliance Boots continued to grow strongly in China as Guangzhou Pharmaceuticals Corporation, its joint venture in the country, made several acquisitions during the year to strengthen its position in key regional provinces. The joint venture performed well with good revenue growth, margin management, and control over costs, enabling the business to significantly improve profitability.

Commenting on Alliance Boots' preliminary results, Stefano Pessina, Executive Chairman, said, "Alliance Boots has again delivered double digit growth in trading profit while at the same time generating a strong operating cash flow to fund investment in growth and substantially reduce net borrowings. This performance, which reflects the excellent work of our teams, has been achieved through a combination of organic growth and benefits from the previous year's acquisitions, is particularly encouraging given the challenging economic environment.

"In the coming year, we expect the economic environment to remain difficult with continuing pressure on both consumer and governmental expenditure. This will generate both challenges and new opportunities for us.

"We are confident about our future prospects and ability to pursue profitable growth, both organically and through further international expansion. This will be supported by our strong operating cash flow and secure funding arrangements, which will enable us to continue to invest while at the same time reducing net borrowings. The development of new and existing partnerships will be a key component of our future growth."

Please click here to read the full results for Alliance Boots.

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.

UK design Company Arup builds its reputation with ICC award at MIPIM Asia

 

 

[Image courtesy of www.arup.com]

CBI member Arup recently announced that the International Commerce Centre (ICC) in Hong Kong, to which it provided full engineering services, was voted as the gold winner at the MIPIM Asia Awards 2011, a scheme which recognises outstanding real estate projects in the Asia Pacific region.

Boasting stunning views of Victoria Harbour, ICC is the tallest building in Hong Kong and set new benchmarks for tall building construction in the city. The main structural skeleton is formed from a high modulus concrete inner core wall. Arup engineered the design of the innovative self-compacting high modulus concrete with special volcanic tuff aggregate.

Arup also had a major involvement in five other projects which were recognised at MIPIM Asia Awards 2011 for their innovative, technical, environmental, and architectural qualities:

• Shanghai International Cruise Terminal, which Arup designed the district cooling system for, was awarded silver in the Best Mixed-use Buildings Category.

• Hong Cheng Plaza in Guangzhou, to which Arup was the structural, geotechnical, and façade engineer, received silver in the Best Chinese Futura Projects Category. Olympia 66 in Dalian, to which Arup provided structural and geotechnical consulting services, received bronze.

• Midfield Terminal at Abu Dhabi International Airport, to which Arup was the multi-disciplinary engineer, won silver in the Best Central and Western Asia Futura Projects Category.

• Shanghai Wheelock, which Arup developed a preliminary structural design for, won bronze in the Best Business Centre Category.

Please click here to read the full press release by Arup on the recognition it received at the MIPIM Asia Awards 2011.

Earlier this year, Guangzhou International Finance Centre (IFC), engineered by Arup, won the Best Tall Building Award for the Asia and Australasia Region from the Council on Tall Buildings and Urban Habitat (CTBUH) for its outstanding design and construction.

Arup engineers from Hong Kong, London, and Shenzhen worked together to provide full engineering design services for Guangzhou IFC, a highly innovative tower with striking visual impact.

Please click here to read the full press release by Arup on the recognition received by Guangzhou IFC.

Michael Kwok, Arup's Project Director, said, "Guangzhou IFC is another success story of global collaboration between Arup offices to deliver a world class project. We are proud that the depth and breadth of our expertise helps to shape Guangzhou's skyline, and continues to make a positive impact on the built environment."

 

2012 UK Now - the UK's largest arts festival in China - dates for your diary

 

[Image courtesy of www.britishcouncil.org.cn]

Dear CBI members,

We are delighted to let you know that UK Now, the biggest British arts festival in China ever, will be held next year between April and November, featuring hundreds of world-class events in 15 cities across China.

Key goals of UK Now include showcasing the quality, diversity, breadth, and innovation of artistic Britain and celebrating China and the UK as consecutive hosts of the Olympic Games.

Please find attached below a bilingual overview of UK Now.

Download UK Now fast facts EN & CN

UK Now's events programme will be wide-ranging and inclusive, covering all the art forms. Events will include exhibitions, concerts, performances, talks, workshops, collaborative projects, online activities, competitions, etc.

UK Now is sponsored by CBI members including British Airways, Burberry, Diageo, HSBC, InterContinental Hotels Group, Norton Rose, Prudential, and Standard Chartered.

For more information about UK Now please contact either Ms. Hannah Douglas or Ms. Sam Christie.

hannah.douglas@britishcouncil.org.cn tel: 00 86 10 65906903 ext 362

sam.christie@britishcouncil.org.cn tel: 00 86 10 65906903 ext 266  

Flying High in China - Airbus delivers first A380 to China Southern

 

[Image courtesy of www.airlinereporter.com]

CBI member Airbus recently delivered the first A380 to China Southern Airlines, the first out of five aircraft ordered by the Chinese airline. China Southern Airlines is the first operator of the highly eco-efficient aircraft in China and the seventh globally.

Powered by the Trent 900 engines manufactured by fellow CBI member Rolls-Royce, the A380 aircraft will initially be operated on domestic routes between the major Chinese cities of Beijing, Shanghai and Guangzhou. China Southern Airlines will later deploy the A380 on international routes.

Commenting on the delivery, Tom Enders, President and CEO of Airbus, said, "We offer China Southern Airlines our warmest welcome as the newest operator of the A380. The A380 has set new standards in comfort, economic efficiency and environmental performance. With the A380, China Southern Airlines will surely play a key role in the top league of the world's leading airlines."

Si Xianmen, Chairman of China Southern Airlines, said, "We are proud to become the first A380 operator in China. The introduction of the A380 in our fleet is a very important step for the development of China Southern. This most spacious and modern aircraft enables us to offer our passengers world-standard comfort on our flights. The economics offered by the A380 will undoubtedly improve our competitiveness on international routes and is the perfect asset to make China Southern Airlines achieve its goal of becoming a leading global carrier."

 

Opportunities for UK businesses in China Regional Cities Report

 

The China-Britain Business Council and the Centre for International Business at CBI member The University of Leeds have prepared an updated research report on 'Opportunities for UK Businesses in China's Regional Cities' on behalf of UK Trade & Investment (UKTI).

The original report, published in September 2008, focused on the market expansion and development of China's regional cities and the relevance of this to British businesses.

However, the last three years have seen major changes to the international economic landscape, with the global financial crisis and UK recession having a deep impact on British businesses and their internationalisation prospects.

The new report presents the findings of research conducted this year.

Please click here to access the latest version of the 'Opportunities for UK Businesses in China's Regional Cities' report.

 

European Business in China - 2011/2 Position Paper launch

 

 
[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.

Checking into the Chinese Hotel Market - latest figures

 
[Image courtesy of www.knightfrank.com]

Leading global real estate and property service firm Knight Frank recently released its Greater China Hotel Report for the first half of 2011.

The report provides an overview and outlook of hotel markets in the following five major Chinese cities: Beijing, Shanghai, Guangzhou, Hong Kong and Macau. Highlights include:

     • 2010 marked the beginning of a recovery for China's hotel market.
     • In 2010, revenue per available hotel room in major cities such as Beijing, Shanghai and Guangzhou 
       rose 34.9% in 2010.
     • In 2010, the total number of overnight visitors across China reached 55.7 million, up 9.4% from 
       2009.
     • In the first half of 2011, the number of overnight visitors across China continued to rise, increasing 
       1.1%.
     • In the first half of 2011, hotel operators continued to strengthen their presence in the Greater China 
       region. Among the five cities covered by Knight Frank's report, Macau was the most active market.
     • In the first seven months of 2011, Beijing received 2.9 million overnight visitors from overseas.

Please click here to access the full report by Knight Frank.

CBI member EC Harris in China - going strong

 

 

[Image courtesy of www.echarris.com]

CBI member, EC Harris has announced the merger with MB Project Management, a company with an established reputation in delivering high quality project management services to Chinese and international clients alike.

Through the merger, EC Harris hopes to be the top international Built Asset Consultancy, advising clients in the planning and execution of strategies that deliver the best possible business results from the money spent on built assets, handling US$18 billion of construction and advising on over 1 million m² of facilities each year. 

“Our acquisition of MBPM is designed to strengthen our built asset consultancy platform in China, bringing even greater local expertise to our Chinese business,” said EC Harris regional leader for Asia Alan Brookes, “We share a common commitment to high-quality services combining the best of local experience with international expertise and best practices, which we have found a powerful and persuasive proposition for China’s built environment. Merging our shared China resources is the next logical step in EC Harris’s regional expansion strategy, and a win for both companies and our clients.”

Coinciding with EC Harris’ 100-year anniversary, the company has also opened offices in Guangzhou and Chengdu to better service their clients in China.

For more information on EC Harris, please visit http://www.echarris.com/.  

CBI Member Fiat driving growth in China

 

 
[Image courtesy of www.fiat.com]

Fiat Group Auotomobiles, one of the automotive companies of leading Italian carmaker and CBI member Fiat Group, plans to expand its dealership network in China by around 60 dealers by September 2012, raising the number from the current 40 to approximately 100 dealers.

Fiat's expansion of its dealership network is in preparation for the upcoming launch of its new medium sedan vehicle, known as the C-medium, which has been specially designed for the Chinese market by Fiat and its Chinese partner, Guangzhou Automobile Group Company.

The two partners plan to launch the new model next September.

Earlier this week, Fiat introduced its popular 500 city car model to China, which will also benefit from the automaker's planned dealership expansion in the year ahead.

Please read more here and here.