China Direct

China Data Crunch: 2021 China Provincial GDP/GDP per Capita and Country Equivalents

Dear CBI Members and Partners,

The team at the British Consulate in Guangzhou (Guangdong) have pulled together a fascinating infographic that shows China's provincial GDP and their international equivalents.

For instance, Shanghai's GDP is equivalent to that of Poland whilst Guangdong's is to that of Canada's. Do have a look at the graphic below which shows both provincial GDP and GDP per capita alongside their country/regional equivalents.

If you have further questions please reach out to: [email protected]

Download 2021 China GDP and Country Equivalents

Our thanks to the British Embassy (Beijing) and British Consulate in Guangzhou for kindly sharing these insights.

 

Dates for Diaries: 16 & 20 April - 129th Canton Fair Online B2B Matchmaking

 

Dear CBI Members and Partners,

Kindly find information below regarding the 129th Canton Fair and online B2B Matchmaking Events hosted by Zhejiang's Department of Commerce.

There are two Zoom Events scheduled for 16 & 20 April respectively. If your business wants to get involved please refer to the flyer below and sign up accordingly.

Thank you for your attention and our sincere thanks to Zhejiang's Commerce Department and the Canton Fair organisers for sharing.

Download The 129th Canton Fair B2B Online Matchmaking for Leading Export Companies of Zhejiang Province

 

If you have any questions then please do not hesitate to contact Ms. Peggy Lyu below:

Peggy Lyu 吕佩琦

M:+86 13710194270

E-mail: [email protected]

Web: www.pdc.org.cn

 

127th Session of the Canton Trade Fair - Online from 15-24 June

 

The 127th session of the China Import and Export Fair, also known as the Canton Fair, will be held online from June 15-24.

The Canton Fair will provide around-the-clock online services for product promotion, matchmaking and business negotiations, enabling both Chinese and International businesses to place orders remotely.

Download Welcome to the 127th session of Canton Fair

For more information please visit: www.cantonfair.org.cn ; www.cftc.org.cn

Many thanks.

CHINA DIRECT

British Business Awards 2020 - applications open now!

 

We are delighted to announce that the British Business Awards 2020 website (www.britishbusinessawards.cn) is now live and online applications open. 

Established in 2008 and now in its twelfth year, the biennial British Business Awards (BBA) recognises and promotes excellence in innovation, enterprise, and endeavour, in the British and Chinese business communities. The British Chamber of Commerce Shanghai is excited to be hosting BBA 2020 in Shanghai.

Over the past decade, BBA in China has grown to become a prestigious feature of the business calendar. BBA 2020 consists of nine categories which showcase a number of organisations and individuals who have demonstrated a commitment to trade and investment in China. These awards are:

·    Innovation Award (Sponsored by bp)

·    Sustainability Award (Sponsored by Houghton Street Consulting)

·    Entrepreneur of the Year Award (Sponsored by The British Chamber of Commerce Shanghai)

·    Chinese Investor in the UK Award

·    British Exporter of the Year Award (Sponsored by CBBC)

·    Leadership Award (Sponsored by The University of Manchester China Centre)

·    Best Employer Award (Sponsored by Smith+Nephew)

·    Best Services Award (Sponsored by KPMG China)

·    British Company of the Year Award (Sponsored by SpiraxSarco)

 

Key Dates of BBA 2020

·    Wednesday, 27 May: Official Website Launch & Online Applications

·    Thursday, 11 June: Official Launch Event

·    Friday, 31 July: Applications Close

·    Thursday, 3 September: Finalists Announcement

·    Thursday, 29 October: Awards Gala Dinner

For more details about each award and its criteria, please click here. To apply for the awards, please click here to register an account first or find your old account back.

BBA 2020 is supported by Department for International Trade (DIT), China-Britain Business Council (CBBC), The British Council, Confederation of British Industry (CBI), and British Chambers in Beijing, Guangdong and Southwest.

If you have any questions, please contact [email protected].

Shell partners with CNOOC to build Huizhou processing plant

 

CBI member, Shell has announced that it has signed a Memorandum of Understanding with China National Offshore Oil Corporation to build its first commercial-scale polycarbonate production plant in the southern Chinese city of Huizhou.

Polycarbonate is a transparent and impact-resistant polymer, widely used to make vehicle headlights and LED spotlights.

The production capacity of the polycarbonate plant is planned to be 260,000 tonnes per annum, Shell announced in a statement made Friday.

The MoU follows an agreement reached by the two energy giants in October 2018, that aims to build more production equipment at their jointly owned petrochemical complex in Huizhou.

Thomas Casparie, Executive Vice-President of Shell’s global chemicals business said, “[Shell] We have an advantaged route to production and are looking at investment in a number of commercial-scale units to serve the growing number of polycarbonate customers.”

At present, Shell and CNOOC has an ethylene production capacity of 2.2 million tonnes.

Honda drives record 2019 China Auto growth

 

CBI member, Honda has reported that the company experienced record sales in China in 2019.

Honda, with its two joint venture partners, China-GAC and Dongfeng Motors, sold 1.55 million cars into the country last year, and has announced that it will expand its product line up in China in response.

The company has said that it has made good progress in the development of two electric sport hybrid vehicles for the China market, the Honda VE-1 and the Honda X-NV - both of which will both displayed at the Beijing Motor Show in April - and also has plans to launch a plug-in hybrid system named Sport Hybrid e+ this year. The company is also accelerating the development of its core connectivity system for smart cars, Honda Connect, to provide better intelligence services for Chinese customers.

Honda hopes to increase production in China to 1.37 million, and has announced subsequent plans to double its production capacity in Guangzhou by adding an extra 240,000 units, increasing capacity to 720,000.

Mizuno Yasuhide, COO regional operations, Honda China said: “Honda has always strived to expand the joy of mobility and daily lives for our customers by realising a fun and technological world with our innovative products and services. […] Especially in recent years, we’ve provided products and services of value to our customers with high quality and speed, by collaborating with outstanding resources in China, and leveraging the strengths of Honda.”

ExxonMobil signs China Chemicals Agreement

CBI member, ExxonMobil has announced that it has signed a framework agreement with the Guangdong Provincial People’s Government for a multibillion-dollar chemical complex in Guangdong Province.

The investment is part of the company’s plans to grow ExxonMobil’s manufacturing capacity in Asia and help meet expected demand growth for chemical products in China. The proposed construction would take place in Huizhou Dayawan Petrochemical Industrial Park.

The multi-billion-dollar project, which remains subject to a final investment decision on ExxonMobil’s side, would include a 1.2 million-tonnes-per-year Ethylene flexible feed steam cracker, two performance Polyethylene lines and two differentiated performance Polypropylene lines. Start up for the project is expected for 2023.

John Verity, president of ExxonMobil Chemical Company said: “Our agreement with the Guangdong Provincial Government demonstrates ExxonMobil’s interests in advancing the project from concept to completion. […] We value the government’s support and its experience in moving such a large-scale project forward.”

The new complex would rely on advanced proprietary technologies in direct steam cracking and performance polymers manufacturing. ExxonMobil has stated it hopes the introduction of its proprietary technology to the China market will help support progress toward China’s national petrochemical development priorities, which include self-sufficiency, diversified feedstock resources, rebalancing fuels versus chemicals and advancing new competitive technologies.

The framework agreement also confirms Guangdong Province’s support in progressing the Huizhou LNG receiving terminal, in which ExxonMobil intends to participate, including supply of LNG.

BP partners with DiDi to charge China’s new energy vehicle network

 

CBI member, BP has announced that it will enter into a joint venture with China’s leading ride hailing service provider, DiDi. The joint venture company will focus on developing new energy vehicle charging infrastructure across China to cater to the country’s developing NEV market.

Initially, the joint venture partnership will only focus on the installation and development of charging infrastructure. However, both companies have reported plans to extend the JV to include collaboration in areas such as loyalty programmes, convenience services and vehicle maintenance.

Yang Xiaoping, Chairwoman and President of BP China said: “China has provided tremendous growth opportunity for BP. Through cooperating with DiDi, BP will be able to actively provide differentiated products to cater to China’s fast-growing new energy vehicle charging market and further expand our brand presence in China.”

Fan Tu, CEO of BP’s downstream business said, “China is the world’s largest new energy vehicle market and presents tremendous opportunity for determining a business model that is both innovative and scalable. [BP] believes that entering into a joint venture with DiDi is the right way to respond to this fast-changing market. Moreover, by being in partnership with DiDi, BP will be to further expand its advanced mobile travel business globally, promoting energy transformation and low carbon solutions across the world.”

BP’s first NEV charging station has already been installed in Guangzhou in Guangdong Province and has the capability to charge 10 cars simultaneously on currents ranging between 60-100kw. It will subsequently be re-branded in light of the JV and serve as a model for the company’s expansion across China.

 

ABB to open Greater Bay Area (GBA) Innovation Centre

 

CBI member, ABB has announced plans to open a new innovation centre in Shenzhen, Guangdong province. The new centre, which will be situated within the main innovation hub of China’s new Greater Bay Area initiative, will open in the second half of this year to provide local solutions for smart building development.

Oliver Iltisberger, managing director of ABB Smart Buildings said, “As China is seeking new ways to promote energy efficiency and minimise carbon emissions to design healthier environments in its cities, ABB is now experiencing fast growth in the areas of intelligent building and related electrical businesses.”

The launch of the new innovation centre is a direct result of the group’s restructuring in 2018, where ABB decided to focus its business on four areas – electrification, industrial automation, motion, and robotics and discrete automation.

The company has been keen to promote its services in China, and opened a new customer experience centre in Beijing on Monday, to highlight the potential for development of smart cities with infrastructure upgrades, carbon free transportation and energy saving.

ABB becomes the latest in a long line of CBI members to have made announcements relating to investment in the Greater Bay Area. To find out more about opportunities for foreign businesses in the area, please follow the link.

HSBC to add 1,000 Tech R&D jobs in China

 

 

CBI member, HSBC has announced plans to add 1,000 jobs in research and development centres in Guangzhou, Shanghai and Xi’an as it looks to expand its presence in China. HSBC says that it plans to spend up to US$3.5 billion a year on strengthening its technological operations and capability in FinTech.

By adding an additional 1,000 jobs to its current China-based headcount, HSBC’s workforce in-country will increase by 14%. HSBC currently employs 7,000 in Mainland China.

HSBC chief information officer, Darryl West said, “There is a lot more [HSBC] can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets. {HSBC] see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here.

HSBC plans to use its China-based technology centres to develop banking products for its global network, such as the bank’s UK mobile banking app – which is currently being developed and updated out of the bank’s Xi’an R&D site.

The bank’s investment in financial innovation in China comes in tandem with plans to invest US$15 billion in the next three years into China, as the central government eases restrictions on foreign ownership. Despite the limited physical presence of foreign banks in China compared to dominant domestic rivals being a challenge, HSBC generated nearly 40% of the bank’s revenue in Mainland China and Hong Kong last year.

The bank has identified the fact that consumers in China have embraced technological payment solutions in China in greater numbers than in the West as the main cause of their success in the market. HSBC hopes that further investment in technology and developing a wider portfolio of technology-based products will continue to negate the bank’s lack of a physical presence.