Dear CBI members and strategic partners,
China Direct would like to share with you a snapshot of CBI members' successes in China through 2014. We hope that you found our new format easy to use, visual and informative and wish you all every success for the forthcoming year of the sheep.
Please do keep sending us your updates and press releases so that your business can also be highlighted in 2015.
Thank you.
Alliance Boots today announces that it has completed the acquisition of a 12% stake in Nanjing Pharmaceutical Company Limited.
The completion follows receipt of government and regulatory approvals. As a result of the investment, Alliance Boots becomes the second largest shareholder of the company with the right to nominate Board members and a member of the senior management.
In September 2012, Alliance Boots announced its intention to invest in Nanjing Pharmaceutical Company Limited through a private placement, for a total consideration of approximately £56 million (RMB560 million).
Alliance Boots first entered the Chinese market in 2008 through its joint venture, Guangzhou Pharmaceuticals Corporation, which operates in complementary geographies and continues its successful development.
Download Nanjing - Full Completion - 4 Dec 2014
Download Nanjing - Full completion - 4 Dec 2014_Chinese
CBI member Alstom and its local joint venture, Shanghai Alstom Transport Electrical Equipment Co. Ltd. (SATEE), were awarded a €21 million contract by Nanjing Metro Group to provide traction systems and associated services to Line 12 of the Nanjing Metro in China.
Scheduled to enter commercial operations by the end of 2015, Line 12, also known as Ninghe Intercity Rail Line, is about 36 kilometres long and includes 19 stations. It will connect the city of Nanjing to Hexian County in neighbouring Anhui Province. Involved in seven out of nine lines of Nanjing Metro, Alstom is making an important contribution to the massive expansion of Nanjing’s metro network. In July 2014, both Nanjing Metro Line 10 and the city’s airport link, equipped with Alstom traction systems, successfully entered commercial operation.
Please read more here.
Dear CBI members and partners,
Kindly find two recent partner updates regarding UK-China sport and culture for your reference below.
British Olympic Team participates in Nanjing reception on British creativity
Athletes and coaches from the British Youth Olympic Team (Team GB) took part in a reception in Nanjing that aimed to promote British creativity. British Consul General Brian Davidson welcomed over 300 guests on a night that saw distinguished government, commercial, and sporting guests experience a taste of British creativity.
Guests were able to learn more about the GREAT Festival of Creativity that will be held in Shanghai in March 2015. The Festival will bring together the next generation of creative thinkers, offering businesses a platform to exchange innovative and commercially compelling ideas.
Since 2012, the U.K. has played host to the Olympic and Paralympic Games, and the U.K. recently saw the culmination of the Commonwealth Games in Glasgow. It was always the plan that the legacy left by the Games should last a lifetime.
Critically, the U.K.’s vision is about helping businesses to build on the reputation secured by the Games over the last two years.
A big part of the legacy is driving the jobs and growth that will aid the U.K.-China creative partnership in being a highly dynamic one.
Please read more here.
Chinese Ambassador speaks at launch of London Autumn Cultural Season 2014
Mr. Liu Xiaoming, Chinese Ambassador to the U.K., spoke at the launch of the London Autumn Cultural Season.
His comments included highlights on events featuring Chinese culture in the U.K. this year, such as the Masterpiece of Chinese Painting 700-1900 at V&A Museum, the Chinese New Year Celebration at Trafalgar Square, the ‘Ming: The Golden Empire’ exhibition at the National Museums of Scotland in June, and the concert performed by the Chinese Philharmonic Orchestra at Royal Albert Hall as part of the BBC Proms in July.
Ambassador Liu also emphasised how China will feature as one of the highlights of the London Autumn Cultural Season this September, when the ‘Ming: 50 years that changed China’ exhibition will be held at the British Museum.
Please read the full speech by Ambassador Liu here.
CBI member INEOS announced
that INEOS Phenol and Sinopec Yangzi Petrochemical Company (Sinopec YPC)
recently broke ground on the largest Phenol and Acetone plant to ever be built
in China.
The groundbreaking ceremony for the 1.2 million tonne development was held in
Nanjing Chemical Industry Park (NCIP).
INEOS and Sinopec YPC established a 50/50 joint venture company with a total
investment of approximately US$500 million (RMB 3.15 billion), which will
generate annual sales revenue of around US$800 million (RMB 4.9 billion). The
new plant is expected to be completed and operational by the end of 2016.
Harry Deans, CEO of INEOS Phenol, said, "I am extremely pleased with the
progress we have made over the summer which now opens the way for us to build
the largest Phenol facility in China. Working together with Sinopec YPC we
combine a strong, local partner with INEOS' phenol technology.
When completed
we will have access to one of the world's fastest growing markets, and this
will bring considerable value to our customers. This really is a mutually
beneficial partnership that is an important development for INEOS Phenol and
for INEOS in China."
Please click here
to read the full press release by INEOS.
CBI member INEOS recently announced that INEOS Nitriles and Tianjin Bohai Chemical Industry Group Corporation signed a non-binding Head of Terms, setting out their intention to establish a 50/50
joint venture to build an Acrylonitrile plant in the Tianjin Chemical Industrial Park in Tianjin.
The initial annual capacity of the new facility will be 260,000 tonnes of Acrylonitrile with an expectation of possible future expansion in line with growing demand across Asia.
The plant is expected to be completed by the end of 2016. The final agreement is subject to confirmation of satisfactory project costs and the conclusion of discussions with the local authorities.
Jim Ratcliffe, Chairman of INEOS, said, "This is the second Joint Venture project INEOS has announced in China this year. In March, INEOS Phenol initialed a joint venture agreement with Sinopec YPC for the design, build, and operation of a 1.2 million tonne cumene, phenol, and acetone complex at
Nanjing. Both Joint Ventures bring together our world leading technology with a strong Chinese partner. They will add up to a total investment across all partners of more than US$1 billion."
Please click here to read the full press release by INEOS.
CBI member INEOS and Sinopec Yangzi Petrochemical Company (Sinopec YPC) recently signed joint venture agreements for the design, build, and future operation of a 1.2 million tonne cumene, phenol, and acetone complex at the Nanjing Chemical Industrial Park in Jiangsu Province.
Expected to be completed by the end of 2015, the annual capacity of the new facility will be at least 400,000 tonnes of phenol and 250,000 tonnes of acetone, making it the largest plant of its kind in China. The facility will also include 550,000 tonnes of cumene capacity per year.
The joint venture will mark the largest capital investment ever undertaken by INEOS in China.
Harry Deans, CEO of INEOS Phenol, said, "The project is the largest capital investment ever undertaken by INEOS and will establish the largest phenol facility in China. This mutually beneficial partnership is an important development for INEOS Phenol and for INEOS in China. Combining a strong, local partner like Sinopec YPC with our phenol technology and access to the market
brings considerable value to our business and to our customers."
Dr. Ma Qiulin, CEO of Sinopec YPC, said, "I am pleased that we have agreed and initialed the joint venture with INEOS. This important partnership is consistent with Sinopec's strategic focus on integration and growth. Our established presence, competitive edge, and cumene technology, combined with INEOS' leading phenol technology, puts us in a strong position to meet growing demand for downstream petrochemical products in the region."
Please click here to read the full press release by INEOS.
CBI member Thales China has announced 2 major new contract wins for Sept 2012:
Please click below for related Press Releases:
Download PR_120918_Thales SAIC Nanjing Airport_eng
Download PR_120917_ China Southern FINAL
[www.allianceboots.com]
CBI member Alliance Boots recently announced that it will acquire a 12% stake in Nanjing Pharmaceutical Co. Ltd., through a private placement, for a total consideration of approximately £56 million (RMB 560 million).
Subject to regulatory approval, completion of the transaction will see Alliance Boots become the second-largest shareholder in Nanjing Pharmaceutical, with Board and operational management representation.
Nanjing Pharmaceutical is the fifth-largest pharmaceutical wholesaler in China, with sales of around £2 billion (RMB 20 billion) in 2011.
Stefano Pessina, Executive Chairman of Alliance Boots, said, "We are delighted to be partnering with such an established player in the Chinese pharmaceutical market and believe there is huge potential in working together to create a great healthcare distribution network. This agreement builds on the success we have already had in China and further strengthens our commitment to the country as well as our willingness to play an active role in the evolution of the market in partnership with the authorities and key players. We believe that this strategic investment marks an important step in our long term development in Asia."
Zhou Yaoping, Chairman of Nanjing Pharmaceutical, said, "The cooperation with Alliance Boots is of great significance in the context of the slowing global economy and China's medical and healthcare reforms. By introducing Alliance Boots advanced supply chain management technology and experience, Nanjing Pharmaceutical will be able to improve its management practices, achieve greater performance, and help China's medical industry reach global standards, as well as support the pharmaceutical sector in establishing a vibrant social responsibility."
Please click here to read the full press release by Alliance Boots.
[Image courtesy of www.europeanchamber.com.cn]
Late last week The European Union Chamber of Commerce in China (EUCCC) released its European Business in China Position Paper 2012/2013.
The Position Paper intends to provide an overview of the current conditions in various sectors in China as well as detailed and constructive recommendations.
The 13th edition of the Position Paper was prepared through a six-month consultative process with hundreds of companies and includes 41 separate Working Group and Forum papers and eight city-specific papers covering Beijing, Chengdu, Chongqing, Nanjing, Pearl River Delta, Shanghai, Shenyang, and Tianjin).
Sectors covered include:
• Aerospace
• Agriculture, food, and beverages
• Automotive
• Auto components
• Aviation
• Banking and securities
• Carbon market
• Construction
• Consumer finance and non-banking financial institutions
• Cosmetics
• Energy
• Healthcare equipment
• Heating
• Information and communication technology
• Information security industry
• Insurance
• Lighting
• Logistics
• Maritime transport
• Non-ferrous metals
• Petrochemicals, chemicals, and refining
• Pharmaceutical
• Private equity and strategic mergers & acquisitions
• Rail
• Renewable energy
• Smart grid
Please click here to access the Executive Summary of the Position Paper and here for the full publication.
The CBI helps create and sustain the conditions in which businesses in the United Kingdom can compete and prosper for the benefit of all.
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