China Direct

Marks & Spencer continues to grow in China

 

[Image courtesy of www.marksandspencer.com]

CBI member Marks & Spencer (M&S) recently released its results for the year ended 31 March 2012, reporting international sales up 5.8%. The U.K. retailer's key priority markets of India, China, and Hong Kong saw strong growth, driven by good like-for-like growth and new space. 

In China, its Shanghai stores continued to perform strongly, and M&S currently has seven stores in the city, having opened three new ones this year. Its Hong Kong stores also continued to perform well, and the retailer opened one new store in the city.

Please click here to read the full annual results for M&S.

Pfizer announces good China growth results

 

[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.

GKN driving growth in NE China

 

[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.

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.  

UK company M&S announces good growth in China

 

 

[Image courtesy of www.marksandspencer.com]

CBI member Marks & Spencer (M&S) recently released its trading statement for the fourth quarter of 2011/12, reporting double digit growth in strategic international markets, including China and India.

Marc Bolland, Chief Executive of M&S, said, "Marks & Spencer continued to make progress in a challenging market. Group sales grew by 0.8%, and U.K. sales grew by 1.2%. Our Food business has again performed well, especially in healthy food, whilst the General Merchandise performance was more mixed.

"Direct had another strong quarter with sales up 22.8% through a number of new initiatives delivering an improved customer shopping experience.

"Strategic international markets, including India and China, delivered double digit growth, but we continue to experience macro-economic pressure and restructuring in some parts of Europe.

"We have continued to manage costs tightly, and are confident of delivering full year profits in line with expectations. While the short term trading outlook continues to be challenging, we are focused on investing in line with our plan and are making strong progress against our goal of becoming an international, multi-channel retailer."

Please click here to read the full press release by M&S.

UK University Edinburgh forges special China links

 

[Image courtesy of www.edinburgh.ac.uk]

CBI member The University of Edinburgh recently received a special award for encouraging relations with China.

At the sixth global Confucius Institute conference in Beijing, University Principal Professor Sir Timothy O'Shea was awarded a special Gold Medal to mark the outstanding contribution of the Confucius Institute for Scotland at the University of Edinburgh in developing cultural, education, and business ties between Scotland and China.

Professor Natascha Gentz, Director of the Confucius Institute for Scotland, received the award at a special ceremony held in the National Centre for the Performing Arts.

The Confucius Institute for Scotland at the University of Edinburgh was first established in 2005 as a partnership between the University and Fudan University in Shanghai.

Please click here to read the full press release by the University of Edinburgh.

UK luxury car company Bentley is flying high with 2012 Hurun Award

 

[Image courtesy of www.bentley.com.uk]

 

CBI member Bentley recently received recognition from China's highly influential Hurun Report, with the Bentley Continental GT coupe winning the 'Best Super Luxury Car' and the Bentley Continental Flying Spur saloon receiving the 'Limited Edition Super Luxury Car' title at the Hunrun Report's Best of the Best 2012 awards.

The Hurun Report, widely recognised as the leading authority on the rapid changes taking place amongst China's high net worth individuals, produces 20 magazine issues per year that target the special interests of China's wealth creators.

Bentley also received recognition from The World Luxury Association and The Detroit News as a leading global luxury automotive brand.

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

US CBI member company Nike to build new Greater China HQ in Shanghai

 

[Image courtesy of www.nike.com]

CBI member Nike recently announced plans for the development of a new centralised campus for the company's employees in Shanghai. Nike's investment in developing the nearly 600,000 square foot headquarters will support its long-term business growth strategy in China, where it celebrated 30 years of business in 2011.

Nike's new campus will be located at The Springs, Tishman Speyer's newest mixed-use development in Shanghai's Yangpu District. The headquarters will feature up to three office buildings and a five-storey multi-purpose conference centre as well as a soccer pitch, regulation-size indoor basketball court, state-of-the-art work-out facility, full-service food and beverage facility, and standalone conference centre to host large-scale events and product unveilings.

Nike expects to occupy the new space beginning in the first quarter of 2014.

Craig Cheek, VP & GM of Nike's Greater China geography, said, "This announcement is very exciting and a strategic investment in our continued growth in China. This new campus headquarters will allow us to elevate and expand on our facilities and capabilities while bringing all of our Shanghai-based employees together from our portfolio of NIKE, Inc. Brands into one central campus."

Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer said, "When we broke ground on The Springs in June, we were confident that world-class companies would recognise the value and importance of establishing a presence in Shanghai. The creation of the Nike Greater China headquarters at The Springs underscores the strength of this market and importance of this development to the Shanghai business as well as residential communities. We're thrilled that Nike, one of the world's great global brands and companies, will be an anchor in this development and look forward to a long-term relationship."

Click here to read the full press release by Nike.

CBI Member Co Visteon driving growth in China auto market

 

[Image courtesy of www.visteon.com]

CBI member Visteon and Huayu Automotive Systems Co. Ltd. (HASCO) recently announced that their Chinese joint venture, Yanfeng Visteon Automotive Trim Systems Co. Ltd. (YFV),  and Visteon signed a non-binding memorandum of understanding to combine the majority of Visteon's global interiors business with YFV.

Definitive agreements for the proposed sale, which would be subject to regulatory and other approvals, are targeted to be signed in early 2012.

The transaction would deepen the strategic partnership between Visteon and China-based HASCO and significantly enhance their joint venture's global manufacturing and engineering footprint. If completed, the transaction will result in a global interiors company within YFV with estimated annual revenue of around $4 billion.

Donald J. Stebbins, Visteon Chairman, Chief Executive Officer, and president, said, "Visteon is very pleased that the signing of the MOU takes our longstanding joint venture with HASCO and SAIC into a global partnership fully enabled to support our key customers around the world."

Ma Zhengang, Yanfeng Visteon standing deputy general manager, said, "The signing of this MOU represents an important step toward the fulfillment of our strategy to create a leading global interior company. Our technical and manufacturing footprint will give us unmatched capability to support all our customers in key growth and emerging markets."

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

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.