Loans for small business startups are now being underwritten by the local government to encourage banks to make the loans. But what about the small companies who have survived through 3 years and need capital to expand? This story examines that problem.
The number of multinational companies establishing headquarters in Shanghai is growing. The competition with Hong Kong for the major firms is intense. Host Qin Yi interviewed Michael Rowse, Director-General of InvestHK for his views on the two city’s business growth. He explains that the mainland is the biggest investor in Hong Kong and that Hong Kong is the biggest investor in Shanghai. He says not to forget Beijing in this enormous growth as well. View the complete interview for Mr. Rowse’s fascinating insights into China’s burgeoning economy.
Shanghai’s stock market index surged upward by 1,340 points. Non-ferrous metals prices led the gains. International fund managers remain very optimistic about China’s markets. Watch this report for interviews with stock market experts and details about government reforms that are driving stock sector gains.
Shanghai Pudong Development Bank issued biggest corporate loan package to date
The newly-built SVA Oracle Center of Excellence for high-tech manufacturing in Shanghai demonstrates the 3-year cooperation between the 2 companies; SVA announces it has cut material costs 20% with their ERA system; the China software market in 2005 was worth more than 32 billion RMB; systems and applications software sales are growing at 25% annually
Lincoln Electric, the worlds leading welding and cutting equipment manufacturer, just commissioned its biggest plant in Shanghai, a $25 million (US) facility. Growth in China’s steel and shipbuilding industries has increased Lincoln’s sales by 25% last year.
Warner Bros. opened an entertainment merchandise store in Shanghai with clothes, toys and other items related to its movies, cartoon characters and other entertainment franchises, such as Batman. The company plans to open 200 more retail stores in China.
Pepsico, the world’s leading soft drink and snack foods company, has opened its 1stoverseas R&D center outside the U.S., in Shanghai. The center will develop products for 40 branches across China and Asia.
Japanese Minister of Finance says China has overtaken Japan as the world’s leader in foreign reserves at $853.7 billion (US).
Housing fund account holders will soon be eligible for bigger mortgages
Travel agents of over 500 agencies from around the world attended a big exhibition and convention in Shanghai; more than 30 million Chinese have traveled overseas.
Red-eye airline flights are back after a 4 year absence
Shanghai has more than 8,000 exhibition companies and 7 large exhibition venues; the Sino-Italy Research Center of the Exhibition& Convention Industry helps prepare for the 2010 Shanghai World Expo, when an estimated 17 million visitors are expected to attend.
Foreign banks are lining up to compete in China for a piece of the Chinese market. BizWatch host Qin Yi interviews Dr. Yuwa Hedrick-Wong, the economic advisor to MasterCard International, about China’s mandated banking changes and what is likely to happen when the“foreign players” enter the China banking market in late 2006.
The China National Off-shore Oil Corporation (CNOO) has recently invest 2.2m US$ in South Atlantic Petroleum Ltd. This is only one instance in the overseas mergers and acquisitions spike by Chinese companies since 2004. Western management techniques and technological advances make foreign companies an attractive investment for China.
Twenty-five year highs in the gold market have been followed surges in local bullion. Watch the whole story for insider tips on the gold market. This year there is a decided upswing in the price per gram. Reasons are due to political concerns, as investors are losing interest in currency. Gold has traditionally been a low-risk investment. Meanwhile the US has raised its interest rates for the 13thconsecutive time. Retail is also contributing to the enthusiasm for gold, since it is a gift of good fortune. Although some investors are realizing gains of more than 30%, experts caution that this is not the time for beginners to invest heavily. They council a wait and see approach, since the market is still finding its feet.
China is preparing for Hong Kong to open up to the foreign banking sector. In this segment Sharon Rice, CEO of Lloyds TSB of Scotland, is interviewed. Among the highlights: Ms. Rice says that the biggest challenge is for foreign banks to understand that there are significant differences between the way Chinese banks conduct business and the way western banks do so. She tells foreign bankers not to assume that China will necessarily follow western practices. Relationships with Chinese banks will involve both competition and collaboration. In her interview, she also gives examples of financial products western banks can offer as well as their competitive advantages.
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