China Direct

CBI Member Success Stories March 2012

 

[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: 

• 3i
• ABB
• Atkins
• Bentley
• Boeing
• BNY Mellon
• BP
• Burson-Marsteller
• Clifford Chance
• Diageo
• Freshfields Bruckhaus Deringer
• Fuji Xerox
• GKN
• HSBC
• INEOS
• InterContinental Hotels Group (IHG)
• Jaguar Land Rover (JLR)
• Jones Lang LaSalle
• J.P. Morgan
• Nike
• Pearson
• Penguin
• Pinsent Masons
• Procter & Gamble
• Research in Motion (RIM)
• Shell
• Siemens
• Simmons & Simmons
• Thales
• Unilever
• University of Nottingham
• Willis

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

UK Company Willis to be first global broker to open in Chongqing

 

[Image courtesy of www.willis.com]

CBI member Willis recently announced that the Chinese Insurance Regulatory Commission (CIRC) granted it approval to open a new office in Chongqing in southwestern China, marking a first for a foreign-owned broker and Willis' 21st office in the country.

Commenting on the new office, Willis China CEO Mitchell Ma said, "As Chongqing, and indeed China, continue to grow at pace, so too do the risk management requirements of their commercial sectors. This move will enable us to be close to our clients and markets so that we can fully understand their challenges and provide them with the best quality services, backed by Willis' global resources.

"We are proud to open an office in this very important city and appreciate the support that we have had from CIRC in approving our application. In return, we will do our best to bring added value and new services to Chongqing to play our part in the further development of the regional insurance market."

Willis, which has the largest branch network of any international broker in China, employs 330 Associates specialising in offering risk management and insurance services to medium- and large-sized enterprises in China.

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

Celebrating UK and international CBI member success in China: Nov 2011

[Image courtesy of www.cbi.org.uk]

Dear China Direct readers, 

Kindly find more than 25 examples of UK and international CBI member companies that are celebrating business success in China in November 2011.

Download CBI China, Celebrating member success in China, November 2011

This will mark the 300th entry since China Direct went live back in June 2009.

Please let the CBI team in Beijing (ben.cooper@cbi.org.uk tel: 00 86 10 85253100) know if your company would like to share your China business news with the CBI's international member network.

Many thanks.

UK-China 2011Trade Statistics - room for improvement

[Image courtesy of www.uktradeinvest.gov.uk]

UK Trade & Investment (UKTI) in Beijing has kindly prepared an overview of the latest UK-China trade and investment statistics.

Highlights include:

UK imports of goods from China (Jan-Aug 2011): £18.6 billion.

UK exports of goods to China: £5.5 billion.

Total trade volume of goods between China and the UK: £24.1 billion. 

Total 2010 UK-China trade volume in services: £3.374 billion.

The UK exported £2.131 billion worth of services to China.

China exported £1.243 billion worth of services to the UK.

UK was China's top source of foreign direct investment (FDI) from the EU in 2010.

The UK's FDI into China reached $1.62 billion in 2010, up 10% over the previous year. 

The UK was the fourth largest destination for China's direct investment in the EU in 2010.

China's outbound foreign direct investment in the UK reached  $330.33 million in 2010.

As of the end of August 2011, there were eight Chinese companies listed on the LSE main market, with a total market value of £15.6 billion.

There were 43 Chinese companies listed on the LSE AIM, with a total market capitalisation of £3.5 billion.

Please click here to read the full overview by UKTI.

CBI Director General upbeat about UK-China trade prospects

[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.

 

 

   

Sun Alliance Insurance China continues to shine in Nanjing

 

 

[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.  

CBI Member Company China Successes May-June 2011

 

 
[Image courtesy of www.cbi.org.uk]

A number of CBI members have been busy raising their profile in China in the first half of the summer this year, engaging in many exciting activities across a wide range of industries.

Please click here to read an overview of nearly 30 CBI members which have expanded their presence in the country in May and June 2011.

China Direct would like to thank Ben Cooper for kindly preparing this overview.  

2011 European Business Confidence Survey - China - Headlines

 

 

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.

China's Twelfth Five Year Plan (2011-2015) - the Full English Version

 

The Delegation of the European Union in China has very kindly prepared a full English translation of China's 12th Five-Year Plan (2011-2015).

In mid-March 2011, the National People's Congress (NPC), China's top legislature, approved the new Five-Year Plan (FYP).

China's FYPs are blueprints which outline key economic and development targets for the country for the next five-year period.

This is essential reading for businesses seeking to either expand their existing China operations or position themselves in the market for the first time.

To download the full translation of the current FYP please click below:

Download Full translation 5 Yr Plan 2011-2015

 

Making the UK 'the best place to invest' - work in progress?

 

 
Today, the CBI released its report, "Making the UK the best place to invest," which calls on the government to bolster the UK’s attractiveness to investors, warning that without action, investment and jobs will be lost to other countries. 

Foreign investment in the UK fell significantly during the global recession, dropping from $186.4 billion in 2007 to $45.7 billion in 2009, and the UK’s reputation as a good place to invest is under threat.

In its report, the CBI has identified the main drivers for and barriers to investment, based on research from 400 companies, including interviews with senior business leaders.

Key drivers of investment in the UK include:
     • A well-developed innovation ecosystem and science base
     • The English language
     • Cultural aspects and quality of life
     • Strong rule of law

Key barriers to investment in the UK include:
     • The lack of long-term predictability and certainty
     • The 50% personal tax rate
     • Skills shortages in the UK
     • The impact of regulation, dismissal periods and strike activity

Please find the Executive Summary below:

1. Download CBI UK Best Place Invest Summary April 2011

2. Our Full Report is here  and today's Press Release is here

China Direct would like to thank CBI Beijing Policy Analyst Ben Cooper for preparing this note.