News

  • Published by http://www.wenfei.com, 22nd Oct 2017 in category Legal / Tax / Consulting / Services in English

    China legal Report is a monthly collection of Chinese law related news gathered from various media and news services, edited by Wenfei Attorney-at-law LTD. This time, you will read three useful news concerning “China 4th Judicial Interpretation on PRC Company Law”, “Announcement of the State Administration of Taxation on the Record-filing of Tax Exemption of Cross-border Taxable Activities and Other Value-added Tax Issues” and “Action Plan for Better Protecting Foreign-invested Enterprises’ IPRs in China”.

  • Published by https://www.pwccn.com, 19th Oct 2017 in category Legal / Tax / Consulting / Services in English

    PwC released its latest China Banking Newsletter - Review and Outlook of China’s Banking Industry in the First Half of 2017.  The report indicates that Chinese listed banks are entering a period of stability. Further, it shows that net profit of Chinese listed banks maintained growth in the first half of this year, albeit at a slightly slower pace than the same period last year. Additionally, both the non-performing loan ratio and overdue loan ratio declined. PwC’s Banking Newsletter covers the financial results of the first half of the year for 39 A-share and/or H-share listed banks, published by the end of June, 2017. The report follows China Banking Regulatory Commission’s categories which include six Large Commercial Banks, nine Joint-Stock Commercial Banks, 16 City Commercial Banks and eight Rural Commercial Banks. According to the report, Chinese listed banks chalked up a net profit of RMB 849.72 billion in the first half of 2017, marking a year-on-year increase of 4.50%. The pace of growth slowed down slightly compared with the same period in 2016. Both the overall return on assets (ROA) and return on equity (ROE) declined. Except for Large Commercial Banks, the overall ROA of other listed banks has reduced significantly to below 1%. According to the report, by the end of June 2017, the value of outstanding non-performing loans had reached RMB 1.3 trillion, up 4.24% from the end of 2016. The non-performing loan ratio was 1.60%, down 0.05% from the end of 2016. Also, the NPL and the special-mention loan ratios of listed banks in all categories dropped from the end of 2016. The upward trend could be indicative of credit risk yet to be fully exposed and consequently, should be observed closely.

  • Published by https://www.ft.com/content, 16th Oct 2017 in category Hospitality / Tourism / Retail in English

    Nestlé released their nine-month sales report on 19 October. Mark Schneider, Nestlé CEO said, “Our sales results for the nine-month period are in line with our expectations communicated in July. Organic sales growth continued to benefit from industry-leading volume growth, which illustrates our ability to innovate and meet consumer demand. Pricing remained soft. Zone Asia, Oceania and sub-Saharan Africa saw further improvement in organic growth. As expected, Western Europe returned to positive organic growth, with significant contributions from coffee and confectionery. Improving our efficiency is a key priority. We have identified further opportunities to accelerate our margin improvement, leading to a further increase in restructuring and related expenses in 2017. Consequently, we now expect our trading operating profit margin to decrease by 40-60 basis points. The development of our underlying trading operating profit margin is fully in line with our expectations for 2017.” According to the report, growth in China continued to improve in the third quarter with positive momentum across the portfolio, particularly in coffee and culinary.

  • Published by http://english.china.com/news/china, 13th Oct 2017 in category Bank / Finance / Insurance in English

    A research report released recently by UBS recognized the innovation development of China in past five years, and predicts that China will become a global innovation powerhouse thanks to improved education quality, input in research and development and policy support to innovation, Economic Daily reported on 10 October. The current economic model of China is seeking a rapid transition from "Made in China" to "Created in China", and China is expected to rule the technology realm in various fields. China has been growing fast in education, the report said. China sees 2.8 million graduates majoring in science and engineering every single year, which is five times compared to the U.S.. The proportion of science and engineering graduates per 1,000 people in 2015 is also five times compared to 2005.According to the QS world university ranking, the average score of top three Chinese universities has exceeded that of German universities. China is narrowing down the gap of academic performance with the U.S. and increasing the advantage over European countries. China has moved up five places in the ranking list from five years ago. The report also said that China has shown increasing investment in scientific research investment and financing. Input in research and development in China today takes up more share of GDP than the UK. Meanwhile, the government has stipulated the goal in the 13th Five-Year Plan that the ratio of R&D input in GDP must reach 2.5% by 2020. Therefore, UBS predicts that China is likely to surpass the U.S. in terms of the overall scale of research and development investment by 2019.

  • Published by https://www.ft.com/content, 10th Oct 2017 in category Bank / Finance / Insurance in English

    Baidu Inc's iQiyi, a Netflix style video streaming service in China, has picked three banks to help arrange a U.S. initial public offering (IPO) worth about USD 1 billion, IFR reported on 16 October, citing people familiar with the plans. Bank of America, Credit Suisse and Goldman Sachs will help manage the deal, expected for as soon as the first half of 2018, added IFR, a Thomson Reuters publication. Baidu and the three banks did not immediately reply to Reuters requests for comment on the IPO plans.

  • Published by http://www.abb.com.cn/cawp, 07th Oct 2017 in category Engineering / Manufacturing in English

    At a demonstration at the Computing Conference hosted by Alibaba Cloud, ABB’s YuMi robot showcased the process of making a cafe latté while displaying real-time process data on the screen, helping visitors experience the magic of ABB’s smart technology. Alibaba Cloud, the cloud computing arm of Alibaba Group, is China’s largest public cloud service provider and the third largest worldwide. At the exhibition themed “Industrial Brain”, ABB's intelligent coffee making robot demo became a center of attention. YuMi can accurately complete the whole process from taking a coffee cup, pouring the milk, making latte and finally passing the tasty coffee to visitors. This is made possible by its flexible hands, camera-based part location, lead-through programming, and state-of-the-art precise motion control. This cutting edge technology wowed the crowd, as did the ability of the YuMi robot to work closely with people without safety barriers. YuMi was programmed to create the lattes by a process called ‘lead through programming’. The robot’s arms were guided through each step in the process while its movements were recorded. This teaching method is faster and more intuitive than programming each individual movement with complex software, making YuMi more appealing to small and medium businesses. The final precise movements are then synchronized in ABB’s RobotStudio to ensure a flawless – and flavorful – performance.
     

     

  • Published by https://www.swissinfo.ch, 04th Oct 2017 in category General Interest in English

    Many SMEs enter the Chinese market by working together with a distribution partner. But this relatively easy path comes at the price of greater dependency on the partner. Making the right choice all the more crucial. Four tips from Switzerland Global Enterprise's expert Daniel Bont: 1. Thorough market analysis as a basis. 2. Clear selection criteria. 3. Thorough assessment of an initial selection that is as large as possible. 4. Meeting candidates in person and building trust. And he mentioned that” Use the network of Switzerland Global Enterprise” at the end of his article.

  • Published by http://www.artfixdaily.com/news_feed, 01st Oct 2017 in category Culture & Society in English

    Two bidders competed to send a Chinese vase to a record CHF 5 million in Geneva. The pre-sale estimate for the piece was CHF 500 to 800."Including the commission, the vase will cost the Asian buyer CHF 6.08 million (USD 6.1 million)," auctioneer Olivier Fichot told the AFP news agency. The auction house, Genève-Enchères, had listed the piece as a 23-inch tall vase with three blue dragons on a yellow background, possibly dating from the early 20th century yet with an 18th century Qianlong seal. The auctioneer said their estimate was conservative and that the piece was difficult to date accurately.

  • Published by http://news.xinhuanet.com/english, 24th Sep 2017 in category Culture & Society in English

    Roger Federer calls the city his second home and the man fondly known as 'Cow' in China had his fans in a froth on his return to the Shanghai Masters.  Already hugely popular in China because of his easygoing personality and outstanding success, the Swiss legend had the crowd swooning once more following his victory on 11 October. Federer's 'Cow' moniker stems from a Swiss tournament twice gifting him one of the animals. The first was Juliette in 2003, and then there was Desiree in 2013. The Chinese also consider his personality -- they see him as gentle and mellow -- to be similar to that of a cow. Shanghai has fond memories for Federer, who played here in 2002 when he first broke into the top ten. He also won the 2006 and 2007 Tennis Masters Cups and the 2014 Masters at the Qi Zhong Stadium. 11 October was Federer's first match in the Chinese metropolis since 2015, and his supporters were determined to give him the warmest of welcomes.

  • Published by https://www.prnewswire.com, 17th Sep 2017 in category BUSINESS NEWS in English

    CHANGZHOU, China, Sept. 30, 2017 /PRNewswire/ -- On September 28, the Centre for International Economic and Technological Cooperation, a government unit under the aegis of China's Ministry of Industry and Information Technology, signed a strategic partnership with the municipal government of Changzhou, formally kicking off the construction of Sino-Swiss Industrial Park in Changzhou National Hi-Tech District.

    The establishment of the park was the result of the Changzhou CPC Municipal Committee's and the Changzhou city government's proactive engagement in an initiative to strengthen ties between China and Switzerland. The initiative also helps to advance both "China Manufacturing 2025", the Chinese government's plan to move the country from the role as the world's low-priced factory floor to one whose industrial leaders stand head and shoulders with their counterparts in the world's developed countries, and Switzerland's "Industry 4.0", the Alpine country's plan to take the lead across Europe in completing the fusion of industry and digitisation.

    A business, science and education zone based on a Swiss model will be built with Xinlong International Business City, a commercial complex, as the core, while a roughly 65-hectare plot of land zoned for industrial use located in neighbouring Binjiang Economic Development Zone is where a grouping of the park's planned manufacturing facilities will be built. The combination vastly facilitates a collaborative approach to the recruiting of new projects, innovation in scientific research, efficiency in the use of energy and improvements in environmental protection, as well as education and humanities-oriented projects.

    Changzhou National Hi-Tech District is home to a cluster of Swiss manufacturing facilities and remains an important investment destination for Swiss companies seeking to set up operations in the Yangtze River Delta. Currently, 14 top Swiss companies have set up shop in the district, among them, Mettler Toledo, Rieter, Givaudan, FoamPartner Bock, GF Machining Solutions and V-Zug, with an aggregate investment reaching US$420 million. The district has attracted investors from 67 countries and regions worldwide, with 1,660 foreign-owned firms having located a facility there, including more than 50 of the Fortune 500 firms. In 2016, the district contributed 115.5 billion yuan to China's GDP and handled US$10 billion in foreign trade. As of the end of 2016, Changzhou had granted approval for the establishment of facilities for 27 Switzerland-invested companies.

     

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