May 4 2010, no 152
04.05.2010, 17:44
Highlights from this issue:
TOP STORIES
- Damco, the logistics arm of the Danish shipper A.P. Møller-Mærsk, opens the biggest office in Chengdu, seeking low cost operations in West China. "To improve service levels without further increasing cost base, we are relocating our customer service functions and the majority of our finance and accounting jobs to Chengdu," Damco's North Asia CEO Steffen Schiøttz-Christensen tells news2biz. (Page 11)
- Lured by China's fast expanding nuclear power sector, Norway-based Scandpower ties up with China's largest nuclear power developer CNPE in order to sell more risk management software to Chinese nuclear power houses. "China is the world's most expansive nuclear market," says Scandpower's nuclear business director Jerzy Grynblat. (Page 14)
- China has rolled out yet more measures to mop up bank liquidiy and curb red-hot home market, amid fears that both consumer inflation and housing prices may spiral out of control, thus burning out the economy. But the problem now is whether tightening will overshoot and bring about a hard landing. (Pages 3 and 6)
MANUFACTURING
- Sweden's Alfa Laval targets China's food & beverage sector with acquisition in Jiangsu
- US Charles River acquires Chinese drug researcher in largest foreign acquisition in China since crisis
- China's steel mills keep running rapidly in Q1, bringing more iron ore price disputes with global miners
FINANCE
- China curbs bank liquidity for the third time in 2010 amid fears of inflation and housing bubble
- Chinese shares sink nearly 8% in April due to tightening and slowdown concerns
- Chinese listed companies, led by big state-owned enterpises, see strong profit growth in 2009
- American Express launches first yuan traveller's check, in eight countries including UK
FOOD & AGRICULTURE
- China's top dairy companies back to profit in 2009 as melamine shadow fades off
PROPERTY & CONSTRUCTION
- Beijing issues toughest measures against housing, allowing one family to buy only one home
- Housing sales post dramatic reverse in April as tightening measures show immediate effects
RETAIL & SERVICE
- French Accor launches 12th hotel in Beijing, plans many more across China
- China's trade volume in services shrinks also in 2009, and long-time deficit expands
IT & MEDIA
- Nielsen launches global R&D programme in China, first of its kind outside of America
- China's mobile phone sales resume fast run on 3G expansion, Nokia still in the lead
TRANSPORT & LOGISTICS
- Damco & Mærsk open large office in Chengdu, biggest around the world for low-cost operations
- Møller-Mærsk exits Yantian port in Shenzhen as a minority stakeholder
- Volkswagen to invest EUR 1.6bn in two new assemblies, possibly in Guangdong for South China market
- US Eaton sets up USD 10m engine valve plant in China
- Port activities revive in Q1, shippers want to reverse back to profits after deep losses in 2009
ENERGY & ENVIRONMENT
- Scandpower ties up with CNPE, aims to sell more software to Chinese nuclear power stations
- Vestas continues to receive big orders from China for wind turbines
ECONOMY & POLITICS
- Norway still leads in Nordic trade with China, Sweden also posts positive growth
- China's manufacturing PMI in April highlights inflation woes, although reflects economic strength
- Suzhou joins cities' fight for big company HQs, offers generous subsidies and tax breaks
- Denmark closes Hong Kong Consulate General: no strategy, just saving money, Foreign Ministry official tells news2biz
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.