News for June 21, 2006
US exchange to launch futures trading in yuan (June 21, 2006) Shanghai Daily - The Chicago Mercantile Exchange, the biggest US futures market, plans to start trades in yuan futures and options, offering tools for investors to hedge against fluctuations as China moves to a more flexible currency system.
China to be top M&A destination (June 21, 2006) People’s Daily - China is set to become the top choice in Asia for financial services investment and mergers and acquisitions (M&As), according to a PricewaterhouseCoopers report. The report said M&A activity in the region's financial services sector is expected to gather impetus over the next five years, fuelled by growing expectation of market liberalization.
China Set for Big IPO Year (June 21, 2006) CRIEnglish - Bolstered by a pair of multi-billion dollar bank listings, China IPO activity is set for a robust 2006 after issuance hit $24.3 billion last year, a 51 percent increase over 2004, Ernst & Young said on Wednesday. China, including Hong Kong, became the world's second-biggest market for IPOs last year, not far behind the United States with $33.1 billion in issuance, according to a global survey by international auditing firm Ernst & Young.
Playtime is over for China's toy industry (June 21, 2006) Asia Times Online - Growing public concern at home and abroad over child safety, environmental protection and working conditions will soon force China's giant toy-manufacturing industry to restructure drastically. China is now the world's largest toymaker and exporter. Customs statistics state that China's toy exports in 2005 totaled US$15.18 billion, taking 70% of the world toy market.
China Carmakers' Global Talent Hunt (June 21, 2006) CRIEnglish - It's a startling trophy hire, and further evidence for auto executives at Toyota, Ford Motor, Hyundai, and elsewhere that their Chinese competitors are deadly serious about moving up in the global auto industry. On June 18, SAIC Motor announced it had hired former GM executive Philip Murtaugh to run its overseas operations from its Shanghai headquarters.
Automakers miss out in used-car race (June 21, 2006) Shanghai Daily - Foreign automakers are investing more in China's nascent used-car industry than their domestic rivals, analysts say. And analysts said foreign companies would speed up their development of the emerging market now that the first batch of automakers are expected to replace their cars and the younger generation starts to buy second-hand.
Hydrogen-powered buses debut in China (June 21, 2006) People’s Daily - Three hydrogen-powered buses appeared in streets of Beijing on Tuesday, bringing emission-free public transport to China for the first time.
China's Mobile Phone Users Exceed 420 Million (June 21, 2006) CRIEnglish - The number of China's mobile phone subscribers reached more than 420 million at the end of May, reported the Ministry of Information Industry on Wednesday.
SOEs urged to pay more attention to risk management (June 21, 2006) China Daily - State-owned enterprises (SOEs) should set up a risk management commission to prevent losses and enhance their competitiveness, the State-owned Assets Supervision and Administration Commission (SASAC) urged in a guideline issued yesterday.
Fast food widening gap with hotpot chains (June 21, 2006) Shanghai Daily - Yum! Inc China is still the largest restaurant in China, according to the "100 largest Chinese restaurants of 2005" list issued by the Ministry of Commerce. Yum! extended its lead with the second and third ranked restaurant chains, two Inner Mongolia hotpot chains. Yum! China had a total income of 13.3 billion yuan (US$1.66 billion) last year, 1.5 billion yuan more than a year ago.
Restructuring of various business sectors (June 21, 2006) CRIEnglish - China is poised to restructure the textile industry, revive the equipment sector and make changes to the telecom sector.
China to be top M&A destination (June 21, 2006) People’s Daily - China is set to become the top choice in Asia for financial services investment and mergers and acquisitions (M&As), according to a PricewaterhouseCoopers report. The report said M&A activity in the region's financial services sector is expected to gather impetus over the next five years, fuelled by growing expectation of market liberalization.
China Set for Big IPO Year (June 21, 2006) CRIEnglish - Bolstered by a pair of multi-billion dollar bank listings, China IPO activity is set for a robust 2006 after issuance hit $24.3 billion last year, a 51 percent increase over 2004, Ernst & Young said on Wednesday. China, including Hong Kong, became the world's second-biggest market for IPOs last year, not far behind the United States with $33.1 billion in issuance, according to a global survey by international auditing firm Ernst & Young.
Playtime is over for China's toy industry (June 21, 2006) Asia Times Online - Growing public concern at home and abroad over child safety, environmental protection and working conditions will soon force China's giant toy-manufacturing industry to restructure drastically. China is now the world's largest toymaker and exporter. Customs statistics state that China's toy exports in 2005 totaled US$15.18 billion, taking 70% of the world toy market.
China Carmakers' Global Talent Hunt (June 21, 2006) CRIEnglish - It's a startling trophy hire, and further evidence for auto executives at Toyota, Ford Motor, Hyundai, and elsewhere that their Chinese competitors are deadly serious about moving up in the global auto industry. On June 18, SAIC Motor announced it had hired former GM executive Philip Murtaugh to run its overseas operations from its Shanghai headquarters.
Automakers miss out in used-car race (June 21, 2006) Shanghai Daily - Foreign automakers are investing more in China's nascent used-car industry than their domestic rivals, analysts say. And analysts said foreign companies would speed up their development of the emerging market now that the first batch of automakers are expected to replace their cars and the younger generation starts to buy second-hand.
Hydrogen-powered buses debut in China (June 21, 2006) People’s Daily - Three hydrogen-powered buses appeared in streets of Beijing on Tuesday, bringing emission-free public transport to China for the first time.
China's Mobile Phone Users Exceed 420 Million (June 21, 2006) CRIEnglish - The number of China's mobile phone subscribers reached more than 420 million at the end of May, reported the Ministry of Information Industry on Wednesday.
SOEs urged to pay more attention to risk management (June 21, 2006) China Daily - State-owned enterprises (SOEs) should set up a risk management commission to prevent losses and enhance their competitiveness, the State-owned Assets Supervision and Administration Commission (SASAC) urged in a guideline issued yesterday.
Fast food widening gap with hotpot chains (June 21, 2006) Shanghai Daily - Yum! Inc China is still the largest restaurant in China, according to the "100 largest Chinese restaurants of 2005" list issued by the Ministry of Commerce. Yum! extended its lead with the second and third ranked restaurant chains, two Inner Mongolia hotpot chains. Yum! China had a total income of 13.3 billion yuan (US$1.66 billion) last year, 1.5 billion yuan more than a year ago.
Restructuring of various business sectors (June 21, 2006) CRIEnglish - China is poised to restructure the textile industry, revive the equipment sector and make changes to the telecom sector.
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