Privately-Owned Companies in China Plans to Enter Overseas Markets
September 5, 2008
Here is interesting survey conducted by Fudan University on behalf of HSBC. According to the Survey, more than 40 percent of private companies in China are planing to enter overseas markets by exporting their products:
Overseas markets a lure
MORE than 40 percent of Chinese privately-owned enterprises are planning to break into overseas markets in the next three years, an industry survey found yesterday.
Fudan University, on behalf of HSBC, surveyed 1,000 of these firms, mainly in the Yangtze River Delta and Pearl River Delta in the first half, HSBC said yesterday.
Based on survey data and related models, the research indicated that 700,000 POEs nationwide had overseas expansion plans.
The respondents are from manufacturing, wholesale and retail, and information technology industries.
The research showed that among the 43 percent surveyed POEs with overseas expansion plans, 63 percent intended to establish sales networks.
The survey also found 55 percent of respondents had overseas economic and trade activities, including exporting their own products, selling products overseas via trade agents and setting up joint ventures with overseas firms.
POEs still depend on domestic banks for lending needs when seeking finance.
The survey found about 60 percent of the respondents had no contact with foreign banks.
Respondents also showed increasing interest in foreign banks’ services, such as short-term yuan loans, hedging and merger and acquisition advice, the survey found.
The deciding factors for POEs when choosing a bank for international business are rates for services offered and borrowing costs, the bank’s global reach, brand reputation and specialist expertise.
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Reading’s New Car Park
September 2, 2008
Reading’s new multi-storey car park in Chatham Place not only provides 600 new spaces, but also offers advanced levels of safety, security and customer service. The car park – owned and operated by Q-Park – is a 10-floor car park with natural wood louvre panels made from sustainable sources on the outside and bright, attractive stainless steel lattice mesh. Inside, Q-Park’s specially trained and uniformed staff operate the most modern technology to make parking a pleasant experience, not a chore. The new car park is: · Manned 24 hours a day by uniformed ‘hosts’ in conjunction with 24/7 secure entry and exit technology · Designed and built to make maximum use of natural lighting, using open aspects, bright reflective surfaces and environmentally-friendly lighting systems that maintain safe, bright internal areas for drivers and passengers, but without high energy usage or costs · Offers a wide range of payment options, starting at £1 per hour, with season, weekly and events tickets available: and payment can be by coins or notes, credit or debit cards · Incorporates the latest CCTV security surveillance covering entries and exits and all floors, and this is linked to a 24/7 manned control centre · Provides additional customer services including the loan of baby buggies during the period that customers’ cars are parked, and umbrellas; and · Offers services such as a shoe polishing machine, battery ‘jump start’ kit, and tyre compressor/inflator. Parking is made easy through the use of special floor coating, which is not only smooth and comfortable to drive and walk on, but also allows the large parking bays to be clearly and colourfully marked. Ramps to and from the different levels are wide and shallow, and the construction design eliminates intrusive or obstructive columns – both of which help make parking fast and simple. Tom Crisp, Lead Councillor for Planning and Transport at Reading Borough Council, said: “When you consider the car park that once stood at this site, this is a vast improvement. In contrast with the old, grey concrete structure, this is a good example of a car park designed to the highest standards, both in terms of external appearance, but also in terms of a customer safety and the facilities available to drivers on site.” Car park charges are highly competitive: Parking time Tariff Up to 1 hour £1.00 Up to 2 hours £2.00 Up to 4 hours £3.00 Up to 6 hours £7.00 Up to 12 hours £11.00 Up to 24 hours £12.00 Overnight (6pm – 8pm) £2.00 The new Chatham Place car park is part of a £250 million mixed-used development in Reading town centre by Muse Developments (formerly AMEC). This first phase is primarily residential with over 300 private and shared ownership apartments as well as shops and new areas of public realm. It is a partnership development with Reading Borough Council and the first phase is due for completion in spring 2009.
Source:Â Â Â Â http://www.parking-net.com
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Abramovich Bids for Chinese Steel Maker
February 21, 2008
Russia’s Evraz Group said yesterday it wants to buy a Singapore-listed Chinese steel maker for as much as US$1.5 billion to expand in the world’s largest market.
Evraz has agreed to buy a 10-percent stake of Delong Holdings Ltd at S$3.9459 (US$2.80) per share, with conditional options to raise the stake to 51 percent. Delong shares were suspended from trading yesterday morning and gained 16 percent to S$3.50 after the announcement.
A 51-percent ownership will require Evraz to make a general offer to buy the remaining shares at the same price, under Singapore takeover codes.
The maximum consideration payable by Evraz will be about US$1.494 billion, assuming full acceptance of the mandatory offer and the exercise of all outstanding warrants, Evraz said. Partly owned by Russian billionaire and Chelsea soccer club owner Roman Abramovich, Evraz has been expanding to Africa and the United States in recent years.
“The investment by Evraz in the Chinese steel sector, our first in the Asia Pacific region, is a critical strategic move to expand our global footprint,” said Evraz’s Chairman and CEO Alexander Frolov.
Delong, headquartered in Beijing, has its production base in nearby Hebei Province, which is close to raw material sources and an extensive client base within the Bohai Economic Circle.
Evraz said it doesn’t intend to change Delong’s management following completion of the transactions.
The deal is subject to anti-trust clearance by China’s Ministry of Commerce and the State Administration of Industry and Commerce.
China’s industry policy bars foreign majority ownership in its state-owned steel producers, but the rules are unclear for privately-owned and overseas-listed mills.
Evraz is buying the initial 10-percent stake from Best Decade and Best Decade shareholders, and has a call option lasting for six months to buy a further 32.08 percent from Best Decade. It added Best Decade shareholders had agreed to sell another 8.97 percent in Delong later.
Delong Chairman Ding Liguo, who owns a majority stake in Best Decade, said the potential combination with Evraz will provide “critical elements” to grow the business, including secure access to raw materials and substantial financial resources, and creating new opportunities to share technology, research and development.
Source: Shanghai Daily
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