Jun 15 2010, no 155
15.06.2010, 19:53
Highlights from this issue:
TOP STORIES
- Danish biotech firm Novozymes is eagerly working with two big Chinese SOEs - COFCO and Sinopec - for a demostration plant, and then commercialisation of its new enzyme that can make cellulosic ethanol out of corn stover at competitive costs. "We do not see major obstacles ahead of us," says senior manager Zhu Xiaoqing at Novozymes China. (Page 12)
- Swedish Triodev sells patent rights of an innovative concrete to Chinese investors, getting money for further R&D back in Sweden. "We are still in control of the process and the technology transfer," says Triodev CEO Leif Nyqvist. (Page 5)
- A new round of wage hikes is threatening China's appeal as a location for low-cost manufacturing, and has prompted some industry insiders to advise to move plants out of China. "The average wage increase this year could be about 15% nation-wide," says Wang Tao, chief China economist at UBS Securities. (Page 16)
MANUFACTURING
- Finnish Outokumpu opens EUR 20m service centre in Suzhou to meet China's appetite for stainless steel
- Baosteel slashes steel prices for July deliveries due to weak demand, H2 profitability at stake
- Industrial output keeps cooling in May; Beijing may ease tightening amid slower recovery
FINANCE
- JP Morgan ties up with First Capital for China's 8th JV brokerage, only allowed minority stake
- Money supply decelerates and new loans fall in May, sign of softening economy
FOOD & AGRICULTURE
- Carlsberg becomes no 1 shareholder in Chongqing brewer for RMB 2.4bn, improves position in West China
- China keen to learn family forestry from Sweden, forestry reform ongoing
- Farm trade rebounds in January-April after dip in 2009, but deficit expands
PROPERTY & CONSTRUCTION
- Swedish Triodev sells concrete rights to Chinese, for further development back at home
- Poland is the first battleground between EU and Chinese contractors, after bid for Warshaw-Berlin highway
- Property market cools down fast in May, developers turn to price promotions
RETAIL & SERVICE
- Danish toy maker Lego moves China sales HQ to from Shanghai to Beijing
- Retail sales keep speeding up, set to do well in June on FIFA World Cup
IT & MEDIA
- Japanese Softbank and Chinese Alibaba create world's biggest e-market
- Chinese PC market leader Lenovo enjoys strong Q1, Acer teams up with Founder
TRANSPORT & LOGISTICS
- Volkswagen decides on the site of first South China plant in Foshan for EUR 520m, the other location undecided
- Auto market continues to cool down in May, capacity glut around the corner
- China to offer RMB 5bn in subsidies for green cars, Daimler partner BYD to benefit
ENERGY & ENVIRONMENT
- Novozymes joins with big Chinese SOEs to make biofuel in China
- China's COSL gets OK to manage rigs offshore Norway
- China's Suntech eager to expand by investing billions, sees strong demand for solar
ECONOMY & POLITICS
- Surprisingly strong growth in China's foreign trade in May reflects global recovery
- Consumer inflation rises to 19-month high in May, topping China's guard line of 3%
- FDI grows for 10th month in May, China reclaims position of no 1 FDI magnet
- Wage hikes and labour trouble threaten China as low-cost manufacturing location
- South Denmark closes representative office in Suzhou due to budget deficit
KEY FIGURES
- GDP and GDP forecast for 2010-2011, industrial output, inflation, consumer price index, current account, currencies, foreign trade & investment, regional data, retail trade, money supply, net lending and auto sales.