Mar 09 2010, no 149
09.03.2010, 10:17
Highlights from this issue:
TOP STORIES
- Danish LM Glasfiber, the world's largest maker of wind turbine blades, is setting up its fourth blade plant in China in a mere decade. It also develops new blade model for the market (page 12).
- Danish Nordic Bioscience focuses on 35-staff R&D unit in Beijing. "The quality of the scientific work is just as high as in Denmark and the cost is about one third," suggests CEO Peter Thostrup (page 2).
- China has planned a record fiscal deficit for 2010 – topping RMB 1 trln for the first time. Although it is still within 3% of China's GDP, the "hidden" budgets at local levels may turn out to be severe. Still, Beijing sets GDP target at the magic 8% for 2010 (page 13).
MANUFACTURING
- Nordic Bioscience focuses on R&D unit, may expand if getting order from big pharmaceutical firm
- China's textiles export fell 10% in 2009, EU still the top buyer, export seen to rebound in 2010
- Danfoss takes over 100% of Swedish Tau Energy, which could give a boost to Danfoss's business in China
FINANCE
- US PE fund Carlyle ties up with Fosun for second big RMB fund in China, raising and investing billions
- Czech PPF to set up first foreign consumer credit firm in Tianjin, expands its Home Credit operations in China
FOOD & AGRICULTURE
- UK's Diageo to become one of first foreign investors to control a Chinese alcohol distiller
- Severe drought hits Southwest China, cripples China's sugar supply and incenses sugar prices
PROPERTY & CONSTRUCTION
- Standard & Poor's: China's red-hot property sector to see corrections in 2010, but no hard-landing
RETAIL & SERVICE
- Inter IKEA to pour USD 1.2bn into huge shopping malls in China, first two in Beijing and Wuxi
- Danish clothes retailer IC Companys pulls out of China after "disaster"
- China's 941-store electronics chain Suning on aggressive: 520 more outlets in 2010
- East China Fair deals up 22%, led by textiles and artcraft, token of global recovery
IT & MEDIA
- IBM unveils lab for energy & utilities solutions in Beijing, its first worldwide
- US companies hurry to invest multi-millions in LED in China, sector to boom
TRANSPORT & LOGISTICS
- German Behr expands in China with EUR 3m plant, to sell more engine cooling modules
- Tengzhong's proposal to take over GM's Hummer killed: what happens and who is to blame?
- HK ariline Cathay Pacific invests in no 1 air cargo carrier in China with Air China
ENERGY & ENVIRONMENT
- Swedish Purac wins SEK 22m biogas order from "Swedish Eco City in China"
- Danish LM Glasfiber sets up fourth wind turbine blade plant in China, four plants in merely a decade
- Swedish Cardo sets up wastewater plant in Kunshan
- China's coal import surges fourfold in January, nation to remain as net coal importer
ECONOMY & POLITICS
- China plans record fiscal budget, over RMB 1 trln for 2010, and sets magic 8% for GDP growth
- Manufacturing PMIs tumble in February, partly owing to holiday factor
- HK GDP rebounds in Q4, helped by Mainland shopper and home buyers, city sees stronger 2010
- Guangdong economy faster than nation, up 9.5% in 2009, industrial output speeds up
- China allows foreign invested partnerships, easier and no corporate income tax
KEY FIGURES pages 18-20
- GDP, industrial output, inflation, consumer price index, current account, currency, foreign trade & investment, regional data, retail trade, money supply, net lending, auto sales and key economic data forecast 2010-2011.