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BYD drives 7-seater crossover S7 for family

China Daily - 6 minutos 15 segundos atrás

Hou Yan, BYD Auto Sales Co General Manager, gives a speech at the company's S7 launch event on Oct 20, 2014, in Beijing, China. [Hao Yan / chinadaily.com.cn]

Chinese carmaker BYD impressed the audience when its General Manager Hou Yan and a team of six staff members filed out of a flashy brown BYD S7 at a new car launch ceremony on Monday in Beijing.

"BYD S7 is a real seven-seater. You can tell when the car is capable of carrying seven adults, and the rear seats can be folded completely flat," Hou Yan, BYD Auto Sales Co General Manager, told the audience.

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Unlike some simple flimsy rear seats, seemed built for children, the newly launched BYD S7 installed two genuine leather rear seats with separate headrests. All the seats in all the versions of the model are covered with genuine leather.

Folding the two rear seats flat, the crossover expands its 365-liter trunk to 1,084-liters. Up to a 2,398-liter capacity is also possible when the three seats in the second row are also folded.

"This car targets Chinese families and also business demands, and we set the price at a friendly range," said Li Yunfei, deputy general manger of the company.

The new model has three versions priced from 119,900 yuan ($19,600) for the base model. The mid-range one is priced at 129,900 yuan, and the top version is 139,900 yuan.

"We hope to see sales volume around 5,000 units a month, in the balance of sales and manufacturing," Li continued.

The new car employs a power train of 2-liter turbocharged direct injection all-aluminum engine with six-speed automatic-manual shift gearbox. The engine has a maximum output of 151 kW at 5,500 rounds per minute, and torque peaks at 320 Nm at 1,750 to 4,500 rpm.

All the cars come with two airbags for front seats, and the mid-range and top versions have two more side airbags, and two more air curtains covering the whole window area.

The models are equipped with safety systems consisting of Antilock Brake System (ABS), Electronic Brakeforce Distribution (EBD), Electronic Stability Program (ESP), Traction Control System (TCS), Hillstart Assist Control (HAC), Electronic Parking Brake (EPB), Tire Pressure Monitoring System (TPMS), Brake Override System (BOS), six parking sensors, and ISO-FIX for child safety seats.

BYD S7 has built-in a larger than iPad 10.2-inch TFT touch screen, and this time the system has an entertainment and internet connectivity service, instead of the CarPad on the G5 sedan, launched last month.

It carries the company's new air freshener system that measures and improves the air quality inside to achieve excellent conditions. The system may reduce the PM2.5 particles in four minutes from 500 micrograms per square meter to below 50 µg/sq m, according to the information provided.

BYD's new S7 7-seater crossover was launched in Beijing, China, Oct 20, 2014. [Hao Yan / chinadaily.com.cn]

BYD's new S7 7-seater crossover is pictured in Beijing with rear seats folded flat, Oct 20, 2014. [Hao Yan / chinadaily.com.cn] 

Categorias: , China

Women foundation appoints Pepsi CEO charity ambassador

China Daily - 6 minutos 15 segundos atrás

China Women's Development Foundation Appoints Indra K. Nooyi, Chairman and CEO of PepsiCo, the First International Charity Ambassador of the Water Cellar for Mothers (MWC) Project on Oct 22, 2014. [Photo provided to chinadaily.com.cn] 

The China Women's Development Foundation (CWDF) and PepsiCo met Wednesday at the Great Hall of the People to discuss the status of the Water Cellar for Mothers (MWC)/Safe Water Access project (2011-2014).

During the meeting, Vice-Chairwoman of ACWF Meng Xiaosi presented a letter of appointment to Indra Nooyi as the MWC international charity ambassador. This is the first appointment in the 14-year history of the MWC project and was given to her in recognition of her outstanding contribution to the MWC project and the long-standing and productive commitments made by PepsiCo, the PepsiCo Foundation and PepsiCo GCR associates to provide safe water access to the disadvantaged people of China.

Huang Qingyi, Vice-Chairwoman and First Secretary of the Secretariat of the ACWF and Chairwoman of the CWDF, Meng Xiaosi, Vice-Chairwoman of the All China Women's Federation (ACWF), Secretary of the Secretariat of the ACWF, Zhen Yan, Vice-Chairwoman of Committee for Social and Legal Affairs with the National Committee of the Chinese People's Political Consultative Conference (CCPPCC) and Vice-Chairwoman of CWDF, Qin Guoying, Vice-Chairwoman and Secretary-General of the CWDF; Indra Nooyi, Chairman and CEO of PepsiCo, Sanjeev Chadha, CEO of PepsiCo Asia, Middle East and Africa (AMEA), Katty Lam, Chairwoman of PepsiCo GCR, as well as representatives of Give2Asia and Chinese Center for Disease Control and Prevention attended the event.

Nooyi is Chairman and CEO of PepsiCo. Widely considered one of the most powerful leaders in business, she is also known for her dedication to aligning business objectives with society's needs. Nooyi introduced the strategic vision of Performance with Purpose at PepsiCo in 2007, which is focused on delivering strong and sustained financial performance by doing the right things for society and communities around the world.

"I am grateful to receive this honorary title, and I am pleased to accept it on behalf of PepsiCo associates around the world," said Nooyi. "For us, the honor comes with a responsibility to continue to bring solutions to those who need them most. While I am pleased with the results PepsiCo and CWDF have worked to achieve together over the past three years, we know our work is far from complete. We at PepsiCo are committed to continuing our work to help China address the problem of safe water access."

The CWDF expressed its hope to leverage Nooyi's international influence and PepsiCo's global leadership to help more people in central and western China who are in dire need of assistance. It hopes that Nooyi and the company will be able to build a bridge between China and the rest of the world to promote the women's charity by encouraging more companies, institutions and individuals to support the worthwhile MWC project.

"PepsiCo's MWC/Safe Water Access project has become an important supplement to Chinese government's safe water access project, becoming a role model of philanthropic collaborations between the government, businesses and NGOs. It has carried out effective explorations in safeguarding women's rights in obtaining safe water and cooperating with governments to solve difficulties in people's safe water access, playing a positive role in accelerating the progress of safe water access in rural China," said Zhen Yan, Vice-Chairwoman of CWDF.

During the review meeting, Mme. Qin Guoying, Vice-Chairwoman of the CWDF, updated the leaders on the results to date of the safe water access project, which was launched with a $5 million donation from the PepsiCo Foundation in June 2011. The funds provided by the PepsiCo Foundation represented the single largest donation ever received by the CWDF since the initiation of the MWC project.

"Thanks to the collaboration of the women's organizations in the relevant provinces, municipalities and counties as well as the support of the Ministry of Water Resources and Ministry of Health, the MWC project has enabled access to safe water for some 650,000 people across 30 counties in eight provinces of Sichuan, Gansu, Yunnan, Inner Mongolia, Qinghai, Chongqing, Guizhou and Guangxi," said Qin Guoying.

These results far surpassed the initial three-year goal of providing safe water for 500,000 people in China's central and western regions by the end of 2015. Not only did the organization achieve its goal early, it also increased safe water access to more people than originally anticipated.

During the event, PepsiCo GCR committed to donate an additional 1.3 million yuan ($212,500) to CWDF to support the safe water access project in the earthquake areas of Ludian, Yunnan province through a combination of contributions from PepsiCo GCR, GCR associates, and the PepsiCo Foundation, all of whom believe strongly in the mission of the CWDF and are committed to assisting the communities in the region that were impacted by the recent earthquakes.

PepsiCo has been supporting the MWC project of the CWDF since 2001. It is the first Fortune 500 global corporation to participate in the project and one of its first strategic partners. As of the end of 2013, the PepsiCo Foundation, PepsiCo GCR and associates had together donated nearly 53 million yuan ($8.7 million) to the MWC project, which has supported the construction of over 1,500 water cellars, the building or upgrading some 170 small-scale safe water sites, construction of over 90 campus-based safe water projects and training of more than 170,000 rural residents, benefitting more than 717,000 people in 10 provinces and autonomous regions, namely Sichuan, Yunnan, Gansu, Guizhou, Guangxi, Hebei, Inner Mongolia, Qinghai, Chongqing and Shaanxi.

Since its launch in 2000, the MWC project has received wide-spread attention and recognition, including winning China's top charity award. As of 2014, the MWC project had mobilized 850 million yuan ($139 million) in funds, supporting the construction of over 135,000 rainwater cellars and over 1,650 small-scale centralized water supply projects in 25 provinces (autonomous regions or centrally administered municipalities), most of which in the western regions, and directly benefiting almost 2.4 million people.

The CWDF donation is also part of PepsiCo's global water stewardship strategy. Over the years, PepsiCo has committed itself to helping local communities improve safe water access with grants from the PepsiCo Foundation, and has introduced water and energy conservation programs into its own operations by building green plants. Today, PepsiCo GCR already has 5 LEED-certified (Leadership in Energy and Environmental Design of the US Green Building Council) "green plants" in its food and beverage operations. Consuming at least 20 percent less water and energy than other qualified plants, the PepsiCo green plants have set a new industry standard in China. In the meantime, PepsiCo GCR is also working with the Chinese Ministry of Agriculture to promote water-saving irrigation projects in the agricultural sector. With the application of drip and sprinkler irrigation technologies, PepsiCo's potato farms in China use 50 percent less water compared to other farms using the traditional flood irrigation.

Categorias: , China

Chinese vice premier meet with Apple CEO

China Daily - 6 minutos 15 segundos atrás

BEIJING -- Chinese Vice Premier Ma Kai and Apple Inc CEO Tim Cook on Wednesday exchanged views on protection of users' information during their meeting in Zhongnanhai, the central authority's seat.

They also exchanged views on strengthening cooperation in information and communication fields.

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Categorias: , China

China treasury bond futures close lower Wednesday

China Daily - 6 minutos 15 segundos atrás

BEIJING -- China's treasury bond futures closed lower on Wednesday, with the contract for settlement in December down 0.28 percent to 95.4 yuan ($15.53).

The contract for settlement in March 2015 lost 0.38 percent to close at 95.9 yuan. The contract for settlement in June 2015 dropped 0.3 percent to finish at 96.2 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on and profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange and started trading on Sept 6, 2013.

 

Categorias: , China

Wind power capacity nears China's development target

China Daily - 6 minutos 15 segundos atrás

Wind generator installed in high-altitude region 

Solution to growth of new-energy firms blowing in the wind

BEIJING -- China saw robust development of wind power in the first half of this year while the European green sector struggled, according to data from an industrial expo on Wednesday.

More than 7 gigawatts of wind power generating capacity was connected to the state grid by the end of June 2014, representing an increase of 30.37 percent year on year, according to China Wind Power 2014, which opened in Beijing Wednesday.

The rapid growth brought the country's total wind power generating capacity close to 100 gigawatts, a goal policymakers hope to achieve by 2015.

After explosive growth in the past decade, global wind power faltered last year in installed capacity as European nations, the industry's main market, cut government subsidies to the sector in the wake of the European sovereign debt crisis.

In contrast, the Chinese government has increased its support to the green sector through subsidies and tax breaks in a bid to boost the use of non-fossil fuel to reduce pollution and address global climate change.

The wind power sector generated 134.9 billion kWh of electricity in China last year, making it the country's third-largest source of electricity, after thermal power and hydro power.

Li Junfeng, director of the National Center for Climate Change Strategy and International Cooperation, expected steady growth of Chinese wind power generators and turbine manufacturers thanks to the stable policy environment.

China aims to increase wind power installed capacity to 200 gigawatts by 2020.

The global wind power sector will be back on a fast track soon as the US market recovers and emerging economies catch up to tap green energy, Li said.

Categorias: , China

China stocks close lower Wednesday

China Daily - 6 minutos 15 segundos atrás

BEIJING -- Chinese shares closed lower on Wednesday, with the benchmark Shanghai Composite Index down 0.56 percent to finish at 2,326.55 points.

The Shenzhen Component Index lost 0.54 percent to close at 8,063.2 points.

Categorias: , China

China's lottery sales up 25.2%

China Daily - 6 minutos 15 segundos atrás

BEIJING -- China's lottery sales rose 25.2 percent year on year to 32.25 billion yuan ($5.3 billion) in September, new data showed on Wednesday.

Sales of welfare lottery tickets rose 19.6 percent year on year to 17.47 billion yuan last month, while sports lottery sales rose 32.5 percent to 14.78 billion yuan, the Ministry of Finance said in a statement.

In the first nine months of 2014, total lottery sales stood at 279.4 billion yuan, up 24.5 percent from a year earlier.

Money raised through the lottery is used for the jackpot, management fees and public welfare under China's lottery management rules.

Last year, total lottery sales topped 309 billion yuan, up 18.3 percent year on year, the ministry's data showed.

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Categorias: , China

Forbidden City's Taobao store hot on the Internet

China Daily - 6 minutos 15 segundos atrás

The Palace Museum, former home to the 24 Ming and Qing emperors, is also known as the Forbidden City. But recently, the store of the Palace Museum at Taobao, China's largest online shopping website, has become hot on the Internet. Chinese netizens actively engaged in discussion about the beaded earbuds with a retail price of 120 yuan ($19.61), and said it's very cool.

The store also sells other products like an official hat-like umbrella, imperial sword stationery, princess mask, imperial robe T-shirt, imperial stand, case and portable charging battery for smartphones.

According to the official response from the store, the ideas for these items came from designers from some famous academies of fine arts. The designers have offered their ideas for eight years. The store is currently the exclusive online store of the Palace Museum at Taobao.

Beaded earbuds sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

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Beaded sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

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Screenshot of imperial sword stationery sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/IC]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Screenshot of imperial mobile phone stand sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/IC]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Imperial robe T-shirt sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Official hat-like umbrella sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Mobile phone case sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Portable charging battery for smartphones sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Princess mask sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/Taobao store of the Palace Museum]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Screenshot of the imperial sword stationery sold at the Taobao store of the Palace Museum, Oct 22, 2014. [Photo/IC]

Flower business in Yunnan takes up 70% market in China  China's iconic occupations fading away   Asia bike show kicks off in Nanjing 

Categorias: , China

Aegon formed JV for life insurance in China

China Daily - 6 minutos 15 segundos atrás

PICC backs off Shanghai listing, awaits 'appropriate timing' 

Insurance premiums to cover 5% of China's GDP: report 

Aegon and Tsinghua Tongfang on Tuesday announced the signing of a Joint Venture Agreement to replace Aegon's existing partner in its life insurance company in China--Aegon CNOOC.

Aegon and Tsinghua Tongfang will each own 50 percent of the life insurance company when the transaction – which is pending regulatory approval is complete. Tsinghua Tongfang will be the domestic shareholder in the joint venture.

"The acquisition of 50 percent of Aegon-CNOOC's shares is key to building our financial business arm. And this combination puts the new joint venture in an excellent position to fully realize the opportunities in the life insurance market in China. We've always been looking for the opportunity to strengthen our financial pipeline," Lu Zhicheng, Tsinghua Tongfang's Chairman said.

Tsinghua Tongfang is the flagship enterprise among the science and technology industry group of Tsinghua University. It was established by Tsinghua University in 1997 and listed on the Shanghai Stock Exchange. By leveraging Tsinghua University's R&D strength and talents, the company has built a powerful high-tech incubator, and has been continuously innovating and exploring in the information, energy and environment industries. Tsinghua Tongfang has now developed into one of the top 500 enterprises of China.

According to Alex Wynaendts, CEO of Aegon, the development of innovative new products and services will be enhanced by the combination of Tsinghua Tongfang's technological expertise and Aegon's experience in life insurance in over 25 markets worldwide.

Aegon has been in China for more than a decade and the company is committed to sustainable long-term development. The relatively low insurance density and penetration rate, aging population, financial reform and the emerging middle class will lead to a high demand for protection and retirement products and services in China. The Chinese life insurance market is of great attraction to this global insurance giant.

During the signing ceremony, both shareholders reiterated that the business operations of Aegon-CNOOC are not impacted by today's announcement.

Categorias: , China

More deals are expected in Beijing's office market

China Daily - 6 minutos 15 segundos atrás

Shanghai to lead top-end office market by 2020

The 10 most expensive cities to rent office space 

Rent increases in recent years have complicated large tenants'efforts to control costs and they are increasingly exploring investment opportunities in Beijing, a report from international real estate consultancy JLL showed on Tuesday.

Occupiers, including foreign corporations, have shown strong interest in acquiring self-use space within Beijing's core CBD expansion area, where a number of high profile high-rise projects are currently taking shape, according to the JLL report.

The area offers unparalleled centrality as well as the opportunity for signage rights that provide visibility across a large portion of east Beijing; this is also a boost for corporations seeking strong branding in the Beijing skyline.

In addition, owner occupiers are increasingly looking at en bloc purchase opportunities in Beijing's emerging decentralized office clusters, where a major transaction of this type is expected by year-end. Limited new supply in recent years has made large blocks of available space increasingly scarce within the core areas.

"Over the next 12-18 months, large core submarket office occupiers are likely to drive investment activity in Beijing. These occupiers are increasingly turning to forward purchase routes in order to secure large blocks of space for their future operations, and we expect to see more multi-ownership structured deals," said Eric Pang, Head of Capital Markets for JLL North China.

Areas of Beijing with the largest future supply of investment grade office schemes include Lize, Wangjing and the CBD core expansion.

Although foreign and domestic institutional investors remain interested in the Beijing office market, the number of transactions involving these parties continues to be limited. Net yields are below interest rates, contributing to frequent mismatches in buyer and seller pricing expectations. Three en bloc sales and some strata title sales comprised a large-scale transaction volume of 1.6 billion yuan during the quarter. The year-to-date large-scale transaction volume increased to just 11 billion, down 55.7 percent from the same period last year.

Categorias: , China

Chery Jaguar Land Rover starts production in China

China Daily - 6 minutos 15 segundos atrás

   Discovering unexplored China with Land Rover   NANJING -- A joint venture between Chinese automaker Chery and UK-based Jaguar Land Rover commenced production on Tuesday, churning out the first China-made Land Rover vehicle.

The launch of Chery Jaguar Land Rover Automotive Co Ltd in Changshu city in east China's Jiangsu province marked the localization of the two UK brands Jaguar and Land Rover.

Built with an investment of 10.9 billion yuan (about $1.8 billion), the plant has been designed with an annual production capacity of 130,000 vehicles. Of the total, 34,000 Land Rover Evoque SUVs, 43,000 Land Rover Freelander 2 vehicles, 30,000 Jaguar sedans and 23,000 of the company's self-developed vehicles will be produced.

Zhu Guohua, vice president of the company, said the company plans to launch 10 self-developed models in the next five years.

On Tuesday, the company also launched its independent vehicle research and development center.

Zhu said the assembly plant boasts world-class automobile production facilities. In the plant's welding workshop, 85 percent of the work will be performed by 306 robots.

Categorias: , China

Sino-Austrian collaboration to grow

China Daily - 6 minutos 15 segundos atrás

Austrian Vice-Chancellor and Economy Minister Reinhold Mitterlehner said China and Austria are to promote cooperation in renewable energy and environmental protection.

The sides reached multi-billion euro deals at an economic forum in Beijing which celebrated the 50-year partnership between the economic chambers of the countries.

China is Austria's second-largest trading partner outside the European Union, after the United States, with bilateral trade reaching $10 billion last year.

"Bilateral trade has quadrupled in the past decade. We expect total volume to double by 2020," said Christoph Leitl, president of the Austrian Federal Economic Chamber, adding that both countries can increase cooperation in fields including automobile, clean energy, agriculture, tourism and other service sectors.

"Austria is geographically an ideal investment destination for Chinese companies to tap into the central and eastern European market," said Yu Ping, vice-chairman of the China Council for the Promotion of International Trade.

The European nation and China are entering a new chapter of cooperation after Premier Li Keqiang's visit to the continent, said Hans-Dietmar Schweisgut, EU Ambassador to China.

He added that bilateral trade between China and the EU has huge growth potential as more companies get on the "Chinese train" and reposition during ongoing reforms of both sides.

Austrian companies have invested in more than 1,000 projects in China since the country's opening up in 1978, with total investment exceeding $1 billion. More than 600 Austrian companies have set up branches in China, according to a report by the Austrian Chinese Business Association.

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Categorias: , China

Frasers building on China's success

China Daily - 6 minutos 15 segundos atrás

China's economic slowdown is a kind of adjustment for better development in the future, said Choe Peng Sum, CEO of Singapore-based Frasers Hospitality, a global hospitality asset management Strong demand for overseas trips during Golden Week  SE Asia falls off the map for many Chinese vacationers  and operations group.

"Although China is facing a slowdown in economic growth, the development speed of the country is still eye-catching and I am confident about China's economy and market," said Choe at the opening ceremony of Modena Zhuankou Wuhan by Fraser brand on Tuesday.

With the latest property in Wuhan, capital of Hubei province, Frasers now operates 14 serviced residences across 10 cities in China: Beijing and Shanghai as well as Chengdu, Guangzhou, Nanjing, Shenzhen, Suzhou, Tianjin, Wuxi and Wuhan. Eight others are under construction.

"Wuhan is the growth center in Central China, and Zhuankou is a major base for global automakers, including Peugeot, Citroen and Renault," said Angela Huang, general manager of Modena Zhuankou Wuhan.

Nathalie Folorence Ms Conzelmann's husband, who works for Renault Wuhan plant, used to rent an apartment when he came to China alone one year ago. But when Nathalie and their daughter arrived in Wuhan recently, they moved into the newly opened Modena Zhuankou Wuhan.

"I love the decoration of the residence," said their daughter, a student at a high school that's about five-minute drive from the residence.

Japan's Niimi Takashi, who has been working in Bridgestone Wuhan plant for three and half years, moved with two other colleagues to Modena Zhuankou Wuhan from another serviced residence for better environment.

Demand for service residences continues to climb in second- and third-tier cities not only by foreign businessmen but also Chinese, as these properties are more spacious, cozier, quieter, safer and more private, Huang added.

"Since we opened our first residence in Shenzhen nine years ago, we have seen continuous growth in business every year," said James Wu, director of Sales & Marketing-China at Fraser Suites CBD-Beijing.

"Compared with other countries in the world, the Chinese market is comparatively healthy and I believe the market will expand due to strong consumption power," Wu added.

Modena Zhuankou Wuhan is a co-project between Frasers Hospitality and China Vanke Co Ltd, the largest residential developer in China. The residence has 172 apartments ranging in size from studios to three-bedroom units. Each is complete with a full-functioning kitchen, modern work space, stylish living area and a complete home entertainment system. There are also all-day dining restaurant, a games room, a fitness gym, round-the-clock reception and concierge services, games room as well as café and bar. Broadband Internet access is complimentary.

 

Categorias: , China

More buy-ups expected in mobile game market

China Daily - 6 minutos 15 segundos atrás

BEIJING -- China's mobile game industry will see more acquisitions while increased capital injection continues rising the market's entrance barrier, according to PricewaterhouseCoopers (PwC).

"No doubt, acquisition is the most efficient way to increase market share in a fast growing industry," said Sandy Xu, PwC China Entertainment and Media Partner.

"The acquisitions will benefit not only the platforms but also the developers. We will see more platforms to invest in early stage game developers or form strategic alliance with them," Xu added.

The mobile game market is estimated to post a compound annual growth rate of 11.8 percent over the next five years if the user base stays stable, according to PwC.

Alibaba has recently bought a stake in a US mobile-game publisher, according to a Wall Street Journal report. Its main rival Tencent holds a leading position in China's online games market.

For Internet companies like Alibaba, they can compete in the mobile game market with advantages such as huge user base, convenient payment channels and safe data environment.

"However, companies need to understand that their own user bases sometimes do not target users of the other sectors in the mobile Internet industry," said Vincent Cheuk, PwC China Technology, Media and Telecom Partner.

"New entrants like Alibaba should introduce better service or better revenue-sharing arraignments to attract game developers and users to move to their platforms," Xu said.

As a surge of investment has greatly increased the valuation of domestic game companies, many Chinese companies have began acquiring or signing licensing arrangements with overseas game firms, which appear to be better deals.

The acquisitions of foreign game developers also help Chinese game companies enter overseas markets and introduce foreign elements in games offered in the Chinese market, Cheuk said.

However, mobile game companies still face challenges in financing and IPOs.

"Revenue recognition is an issue of widespread concern during a mobile game company's merger and acquisition or its IPO process," Xu said.

"Given that mobile games involve virtual item transactions, common issues include when revenues are recognized and whether they should be reported on a gross or a net basis."

Meanwhile, the buy-up may extend to smaller game workshops as mobile game companies find it increasingly difficult to recruit experienced programmers and art designers.

Many experienced programmers now tend to start their own businesses by setting up game studios rather than work for large organizations.

Recently, lots of large game companies established investment funds to buy minority stakes in start-ups, according to PwC.

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Categorias: , China

First Ronald McDonald House to open in Changsha next year

China Daily - 6 minutos 15 segundos atrás

Nearly 3,000 families from eight cities took part in McDonald's "Run for Love" campaign. [Photo provided to China Daily]

Nearly 3,000 families dressed in red-and-white striped socks and from eight cities participated in the "Run for Love" campaign organized by global fast-food chain McDonald's on Sunday to raise funds for its first Ronald McDonald House in China.

The House, which is expected to start in 2015, is a global program that aims to provide housing for families of sick children when they are in the hospital.

For each of the participants who complete the run, McDonald's, will donate 10 yuan ($1.61) to the upcoming Ronald McDonald House as part of the celebration of the Ronald McDonald House Charity's 40th anniversary.

Phyllis Cheung, managing director of McDonald's China, said that RMHC is the company's key adopted charity globally. Across China, the company's 2,000 restaurants are taking part in the donation drive between October 15 and 26 when customers who donate 20 yuan will receive a pair of Ronald McDonald's red-and-white striped socks. With about 320,000 pairs of socks ready to be delivered, the target is to raise 6.4 million yuan.

Families or relatives of hospitalized children will no longer suffer hardships related to accommodation as the Ronald McDonald House will provide them with a free "home away from home" under the recommendation of its partnership hospitals, said officials.

A Ronald McDonald House comprises of several family rooms and caters to the housing and other living expenses of the families of hospitalized children.

The first such House in China is expected to open in Changsha, capital of Hunan province, next year, according to Jessica Lee, chairman of the China Ronald McDonald House Charity, a charity registered under the China Soong Ching Ling Foundation in 2006.

Lee said it took them a year to identify children hospitals' locations in China and their standing with local medical communities before they decided to partner with the Hunan Children's Hospital - a children's hospital with the largest number of hospital beds in Asia.

The chairman said they hope to have a second facility in China soon with a goal of having at least five such facilities in the next five to six years. In Japan the chain has about 3,000 McDonald's restaurants and seven Ronald McDonald Houses.

Depending on which city it is located in, the House facility, including construction, refurbishing, rent and operational costs, will be between 6 to 10 million yuan each year. The House will have about 20 rooms and start operating in the third or fourth quarter of next year.

The applicants will be subject to strict assessment and recommendation before they are given permission to use the house, said Lee.

Priority will be given to those "in real need" such as poor families with kids suffering from tumors or cancer.

"Though we do not donate money directly to these families, we provide them a 'home away from home' because we believe a family's love is the best medicine for their hospitalized children," said Lee .

More than 337 Ronald McDonald Houses can now be found in more than 35 countries and regions across the globe.

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ANZ on lookout for future Li Na

China Daily - 6 minutos 15 segundos atrás

Young candidates taking tennis lessons sponsored by ANZ at a coaching center in Shanghai. [Provided to China Daily]

The Australia and New Zealand Banking Group Ltd said it will invite two of China's brightest young tennis stars to attend next year's Australian Open, being held over the last fortnight in January in Melbourne.

On the sidelines of the Shanghai Rolex Masters earlier this month around 200 children took part in an event supported by ANZ's Junior Tennis Program, at the city's Qizhong Tennis Centre.

The youngsters were given access to professional tennis coaching on the same arena where some of the world's top players faced off with some even given the chance to knock up with the stars.

ANZ is the only Australian banking corporation registered in China, and has branches in Shanghai, Beijing, Guangzhou, Chongqing, and Hangzhou. It has already established long-term partnerships with community partners and non-government groups centered around, it says, enhancing financial capacity, responsible practices, urban sustainability as well as developing education and employment opportunities for young and underprivileged individuals.

ANZ is signed up to be the Shanghai Masters' international banking and finance partner until 2018, extending an association with tennis beyond its existing partnership with the Australian Open, Asia Pacific's only Grand Slam famously won this year by Chinese tennis icon Li Na.

The company's Junior Program involves weekly training workshops under the guidance of experienced tennis coaches.

The company's chief executive of international banking Farhan Faruqui said that two Chinese children will win the chance to be part of a junior tennis exchange during the Australian Open, adding: "We're proud to be associated with this program in Australia and China, supporting grass roots tennis development.

"We really hope we can find the next Chinese Grand Slam winner."

Since early last year the ANZ program has involved more than 1,000 participants from schools in China. The company is also involved in the development of tennis among children in Australia, sponsoring ANZ Hot Shots, a program with over 480,000 registered participants there.

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Fonterra unit promotes better bone health

China Daily - 6 minutos 15 segundos atrás

A national public awareness program for bone health was launched in Shanghai on Sunday, the day before World Osteoporosis Day.

In osteoporosis, bones weaken and become susceptible to fracture. The disorder is a growing concern in all countries, especially those with large populations over the age of 50.

The program aims to give people a better understanding of the condition and encourage them to get involved with the prevention and treatment of osteoporosis, which will improve the quality of life for everyone and reduce the national healthcare burden.

The program involves public education, data collection and free bone health checks.

Under the program, Anlene, an milk powder brand of New Zealand's Fonterra Co-operative Group Ltd, will work with medical experts to collect bone health data in China. The information will be used in research and compiled into a book on China's bone health.

Anlene will provide free bone health checks for at least 1.8 million Chinese residents and offer bone nutrition and health counseling services.

"The study of bone health is very important, and this information will serve as a reference for experts' research," said osteoporosis expert Liu Zhonghou, who is editor-in-chief of the Chinese Journal of Osteoporosis.

"Attention to bone health should be paid at a younger age. Exercise and a healthy lifestyle help prevent osteoporosis," he said.

In China, the incidence of osteoporosis keeps rising and patients are becoming much younger. The number of osteoporosis patients exceeds 90 million.

Medical experts estimate that the number of people who have low bone density or osteoporosis will reach 286 million by 2020 and 533 million by 2050.

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Breast cancer screening will combat killer disease

China Daily - 6 minutos 15 segundos atrás

Zhang Chengliang/China Daily

Nationwide program to help early detection and heighten awareness

The free nationwide breast cancer screening campaign launched in China this week will help in early detection of the disease and also raise more awareness, experts said on Tuesday.

Breast cancer is one of the biggest killer diseases in China with over 210,000 new cases reported every year, said a recent report published by the National Cancer Registry Center.

"The symptoms of breast cancer are often overlooked, and in most cases the detection happens rather late. The number of cases has risen due to the low detection rate and poor awareness," said Qiao Youlin, a leading cancer expert and professor of oncology research at the Beijing-based Chinese Academy of Medical Sciences.

"Most of the patients went for treatment only after they developed symptoms. In this regard, it is important for the nation, medical institutes and the entire society to work together for early prevention and treatment of breast cancer," Qiao said at the free breast cancer health checkup in Huaxi Hospital in Chengdu, Sichuan province.

The free screening campaign, initiated by GE Healthcare, will also be held in Beijing, Shanghai and Guangzhou.

With the number of breast cancer cases rising, health departments across the country are charting more steps to raise awareness and provide more effective early prevention and treatment.

In Guangdong province, a three-stage program is being undertaken on a pilot basis to detect and prevent breast cancer. The program aims to establish a breast cancer prevention and treatment system covering women from both urban and rural areas. It also plans to develop solutions to prevent the further incidence of the disease, based on the findings.

Initial findings from the program have shown that detection rates of both breast cancer and early cancer, two main clinical indicators, have risen significantly over the last few years in Guangdong and were higher than the national level during the same period.

According to a global survey from GE Healthcare released in October, or the Breast Cancer Awareness Month, 50 percent of the women in the world cannot recognize the most common symptoms of breast cancer.

The Value of Knowing global survey of 10,000 adults across 10 countries including China aims to explore perspectives on breast cancer with an emphasis on understanding and raising the awareness around dense breast tissue and the most common symptoms of breast cancer.

The survey highlighted a significant lack of awareness about the risks associated with having dense breast tissue, an important risk factor for breast cancer and found in about 40 percent of the women.

Women with dense breast tissue have four to five times higher risk of developing breast cancer, yet only one out of five people globally has seen, heard or read about dense breast tissue in the last six months, the report said.

About 71 percent of the respondents could recognize a lump in the breast as a symptom of breast cancer. But less than half of those surveyed were able to identify other common symptoms like discharge from the breasts or changes to the breasts or nipples such as skin dimpling and rashes, according to the report.

More than half of those surveyed correctly understand that dense breast tissue can be identified through a routine mammogram. That is to say, a good majority still believe that dense breast tissue can be identified through regular personal checks for lumps and irregularities, the report said.

Susan Brown, managing director of Health and Science Education for Susan G. Komen, the world's largest breast cancer organization. said: "If a woman learns that she has dense breasts, it is important for her to talk with her healthcare provider about her risk and options for further imaging or management."

In addition to providing free breast cancer screening and promoting public awareness of breast cancer prevention, treatment and care, GE Healthcare is also taking steps to promote academic research and discussion in China and the world by working with the medical industry and partners to research the screening and treatment of breast cancer, said Duan Xiaoying, CEO of GE China.

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Amore sitting pretty in makeup market

China Daily - 6 minutos 15 segundos atrás

South Korean cosmetics group Amore Pacific aims to become Asia's top cosmetics producer with global sales reaching 70 billion yuan ($11.4 billion) by 2020.

As its largest market, China has become a key target for Amore Pacific to achieve its goal, with the nation forecast to contribute 28 percent of the company's global sales by 2020.

Amore Pacific announced on Tuesday the opening of a new center in Shanghai that combines the functions of research and development, manufacturing and logistics.

The center costs 750 million yuan, and has about 10 times the annual production capacity of its former factory in Shanghai. The center is also the largest R&D, production and logistics base for Amore Pacific outside South Korea.

"Amore Pacific has seen the huge potential of the Chinese market from very early days. The center will be a symbol for our group to accelerate the pace of China strategy. The strong production capacity, excellent R&D ability and efficient logistics system will help us produce more products suited to the Chinese market," said Suh Kyung-bae, president and chief executive officer of the company.

Amore Pacific first entered the Chinese market in the 1990s. The popularity of South Korean television series in China has helped South Korean cosmetics brands beat their global rivals in the country. For the past decade, Amore Pacific's average sales growth in China was 47 percent.

Last year, sales in China reached 2 billion yuan. In the first half of 2014, sales totaled 1.28 billion yuan, up 26.5 percent year-on-year.

"Based on individual brands' characteristics, Amore Pacific will continue to explore and expand the market with a multi-channel strategy," said Charles Kao, its general manager in China.

The company is also looking for opportunities to introduce new brands into the Chinese market.

According to the company, a logistics base in Qingdao, Shandong province, will start operations later this year, joining bases in Shanghai and Shenyang, capital of Liaoning province. Two more logistics bases in Beijing and Guangzhou will be built in 2015 and 2016.

"Smooth logistics and sales channels and (the expansion of) e-commerce channels will help us meet Chinese consumers' demands and achieve fast growth in China," said Kao.

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Room at top of high-tech firms

China Daily - 6 minutos 15 segundos atrás

Zhang Yaqin, former senior global VP of Microsoft, talks at the annual meeting of BFA during the 2013 Boao Forum for Asia in Boao town, Hainan province, on April 5, 2013. [Photo/IC]

Executives with a global focus are being sought to help business growth, report Meng Jing and Gao Yuan.

As Chinese high-technology companies vie for market share all over the world, they are also trying to lure top executives from overseas competitors.

Industry insiders said that recruiting leaders from international giants, who often demand higher compensation, will boost innovation and the marketing strengths of Chinese players.

The latest example of executive job-hopping was in September when Zhang Yaqin, a long-time Microsoft Corp research executive, left the United States company for Beijing-based Web search provider Baidu Inc.

The 48-year-old software development veteran, who has called Bill Gates his mentor, said he was ready for new challenges.

Baidu, the world's largest Chinese-language search engine by user numbers, is investing heavily in building new business models beyond online searching. Adding talent with global exposure is part of that process.

In mid-May, Baidu opened a research and development office in Sunnyvale, California. Robin Li, company founder and chief executive officer, said Baidu plans to invest $30 million to expand the R&D center to employe more than 200 people in three years time.

The company's US office was set up in Cupertino in 2011 and had 28 employees by the end of 2013, most of them R&D engineers.

Months before Zhang joined Baidu, the Chinese company signed artificial intelligence scientist Andrew Ng from Google Inc. Ng, who headed Google's AI project, is now Baidu's chief scientist.

"As a true visionary and key contributor to the field of artificial intelligence, Ng is the ideal individual to lead our research efforts as we enter an era where AI plays an increasingly pronounced role," said Li.

"We are also strong believers of fully distributed R&D capabilities. Technology is very important. We are very willing to invest, but we understand that not everyone wants to go to Beijing to do engineering work," he said.

Liu Lee, Baidu's vice-president for human resources, said: "Only a few companies could have appealed to Andrew Ng, given his desire to push artificial intelligence forward."

AI research is very capital-intensive, requiring lots of data and computing power. Baidu - as Ng put it - can provide those things. Lee said hiring an industry leading researcher with a terrific reputation and solid experience is set to boost the company's business.

"Attracting top-flight technology talent is critical for Baidu wherever we are, and of course having him anchoring our research efforts in Silicon Valley is good for our brand as an employer," said Lee.

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Baidu declined to disclose its number of non-Chinese high-level researchers but said it is hiring local employees in several countries including Brazil, Thailand, Egypt and Japan.

"We recruit overseas staff because local employees understand local markets, users and partners better," said Lee.

Baidu is not the only company actually hiring overseas executives. Alibaba Group Holding Ltd and Tencent Holdings Ltd are seeking such people to expand their overseas businesses.

Jason Wang, managing partner of the recruitment company Experi, part of US-based Manpower Inc, said information technology companies began recruiting overseas executives about three years ago and activity is picking up.

"Apart from Alibaba, Baidu and Tencent, smaller companies and even startups are also looking for high-quality leadership outside of China," Wang said.

In May, Alibaba appointed Jim Wilkinson, a former senior PepsiCo Inc executive who also worked for the US government, as its new head of international corporate communications.

Wilkinson joined the company about one week after the group filed for its record US initial public offering. Global public relations and relationships with US investors are more important than ever for the Hangzhou-based company.

"As Alibaba extends its platform for entrepreneurs and small businesses around the world, it is important that we have the right people in place who have a track record of building bridges across geographic boundaries," said Alibaba Chairman Jack Ma in a statement.

Alibaba also hired Google's head of investor relations Jane Penner, who will be based in San Francisco.

The Internet is becoming a rich hunting ground for talent for Chinese companies.

The China branch of the world's largest professional networking company LinkedIn Corp has seen an increasing number of Chinese corporate clients who are eager to boost their presence among the networking system's 300 million global users.

Ever since it officially entered the Chinese market in February by launching a Chinese-language website, LinkedIn China has seen its paid corporate users increase rapidly to about 150. Most of them are trying to use the global networking system to find talent with an overseas background.

Derek Shen, head of LinkedIn China, said in a recent interview that the company's Talent Solutions, which helps human resources departments locate the people they want, are welcomed by Chinese companies that are coping with the talent shortage caused by rapid overseas expansion and business growth.

Chinese high-tech companies are among LinkedIn China's top corporate clients. According to Shen, Baidu, Tencent, Huawei Technologies Co Ltd and Lenovo Group Ltd are among LinkedIn China's major clients.

"We just signed a high-value contract with Alibaba," he said. Apart from headhunting, LinkedIn can also serve as a platform to build up companies' brands and reputations.

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