Mar 23 2010, no 150
23.03.2010, 20:25
Highlights from this issue:
TOP STORIES
- Norwegian-owned Nordic Industrial Park, located in Ningbo and already housing 45 Nordic companies, is encouraged by the warming business since late 2009, and is back on its way to be fully developed by mid-2011. "We see an ever increasing interest in setting up business in China," says NIP CEO Ove Nodland. (Page 2)
- Norway's Sevan Marine, working with Chinese COSCO, expects more offshore oil rig orders after a freezing time. "It is only now, during the past six months, that we have started seeing contracts being signed again," says Birte Norheim, Sevan's VP Finance. (Page 14)
- Unwilling to meet China's censoring requirement, Google moved its Chinese search site to Hong Kong. But its R&D and sales team still stay with China's 300 million Internet surfers. Google's move could benefit Chinese rival Baidu and the search engine face blockade by China's web firewall. (Page 11)
MANUFACTURING
- Nordic Industrial Park back at full-speed development again after dips in H1 2009
- Sweden's Marco lifting tables for Asia now made in Ningbo, will expand staff
- Finnish Elcoteq wins large lighting deal from Philips for China and more
- Philips adds new line of energy-saving lights in EUR 60m plant in Jiangsu, targets Chinese subsidies
- Giant losses drive out Flexa's founders, sell-off of assets in Estonia and China underway
- China's industrial output speeds up to fastest pace in 4 years, triggering overheating concerns
FINANCE
- PayPal and China UnionPay to bring more Chinese consumers to world retailers
- New loans fall and money supply slows in February mainly due to holiday
- Chinese banks may face risk of surging bad loans, but strong enough to weather the hit
FOOD & AGRICULTURE
- Sinochem builds RMB 16bn fertiliser plant in Ningxia, aggregates manure capacity glut
- Hog prices on way down after holiday, also owing to diseases, will force China to intervene
PROPERTY & CONSTRUCTION
- Beijing limits foreign property buyers again, takes other measures to curb housing bubble
- Despite tightening, housing prices keep flying in February, may remain strong in H1
RETAIL & SERVICE
- Li Ning net result rose 31% in 2009, overtake Adidas to come closer to Nike in China's sportswear sector
- Retail sales strengthen 18% in January-February, steady growth seen ahead
IT & MEDIA
- Google half-exits China by moving Chinese search to Hong Kong, to benefit rival Baidu
- China Mobile to buy into SDP Bank for RMB 40bn, eyes on online payment business
- Denmark's Milcom opens office in Hong Kong, targeting mobile market in East Asia
TRANSPORT & LOGISTICS
- US Tenneco sets up 7th emission control JV in China, serving Chinese FAW
- Auto sales still on fast track in February, but full-year outlook uncertain with signs of slowdown
ENERGY & ENVIRONMENT
- Working with China's COSCO, Norway's Sevan Marine sees revival in orders for offshore oil rigs
- China's power use cools in February due to holiday and drought, may see high single-digit growth in 2010
ECONOMY & POLITICS
- China posts robust export and import in February, RMB policy under attack
- Speeding inflation in February fans woes on tightening, interest rate hike possible in H1
- Foreign direct investment into China grows for seven months in a row
KEY FIGURES
- 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.