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China launches $16b subway transportation fund

China Daily - 10 minutos 38 segundos atrás

SHANGHAI - Chinese real estate giant Greenland Holding Group, together with China Construction Bank and a number of partners, jointly set up a 100 billion yuan ($16.3 billion) subway transportation fund on Tuesday to support the construction of transit lines in Chinese cities.

The fund will spur rail traffic investment of up to 300 billion yuan, said Zhang Yuliang, chairman of Greenland.

The number of Chinese cities with subways is expected to reach 50 by 2020 with total mileage of 6,000 kilometers, according to Greenland.

The fund's initial deployment will be 24 billion yuan. The Shanghai-based Greenland said it is mainly responsible for recommending suitable projects for the fund to invest in.

Greenland added that it is an example of the public-private partnership (PPP) model. The Chinese government has been calling for greater use of the PPP model, in which a service or project is funded and operated through a partnership between the government and private sector.

China is increasingly turning to PPPs to bridge a huge financing shortfall in infrastructure.

Categorias: , China

New image of Made-in-China

China Daily - 10 minutos 38 segundos atrás

BEIJING - When Chinese technology firm DJI was founded in 2006, the idea of civilian drones was far beyond the grasp of ordinary consumers.

In less than 10 years, the Shenzhen-based company is now a leading manufacturer of commercial and recreational drones for aerial photography and videography. Its products currently account for almost 70 percent of the market share worldwide, with Europe and North America its biggest customers.

"We can proudly say DJI opened up the civilian-drone market," said Shao Jianhuo, director of the company's public relations department.

DJI is one of the many emerging Chinese companies refuting the long-existing image - cheap and low-quality- of Chinese products.

"We hope we will change the established international perceptions of Chinese products," Shao said.

In the past, Chinese companies managed to eke out a living by taking advantage of low labor costs and cheap resources to engage in low-end manufacturing of products such as garments, toys, and shoes. Scarcely have companies earned a global reputation for premium quality or taste.

Sometimes referred to as the "world's factory", nearly 90 percent of China's manufactured and exported goods are not indigenous brands. The country is still far from becoming a true manufacturing powerhouse.

Take the domestic market as an example, notable high-end products from cars to cosmetics have for long been dominated by brands from developed markets.

With the government's efforts to accelerate industrial upgrades, restructure the economic growth pattern and encourage innovation in the new century, things are gradually beginning to change.

Comfortable and safe trains made by China CNR currently provide 80 percent of rail transport services in Rio de Janeiro, host city of the 2016 Summer Olympics.

Li Tiezheng, a Chinese mechanic dispatched by the CNR to serve the city's subway operation during the FIFA World Cup last year, recalled being praised by European passengers after they discovered the trains had come from China.

"It's really cool being a Chinese at that moment," Li said.

A subway company in the Brazilian megacity has ordered 604 subway and commuter trains from Chinese manufacturers. Some 90 trains which the Chinese manufacturers will deliver soon may be used for the Olympics.

During his visit to Brazil last week, Chinese Premier Li Keqiang took a ride on a subway train in Rio, which "has mature technologies and runs stably," as described by the train driver.

Li told Brazilian officials that China has superior technologies and powerful equipment manufacturing capacity in railroad transport, and China-made products are cost-effective and adaptable to various markets.

In recent years, Chinese Internet companies such as Alibaba, Baidu and Tencent have also gained global stardom.

China's ZTE, a provider of telecom equipment and network solutions, ranks the fourth-largest smartphone manufacturer in the United States and the second-largest in the off-contract market, while Chinese herbal cosmetic maker Herborist has established a name in Paris, providing Chinese-style cosmetics and SPA services to customers.

"The biggest challenge to the internationalization of Chinese products is a negative existing perception of Made-in-China. To change such an impression, Chinese companies must establish brands," said Wang Haizhong, a researcher on Chinese branding at Guangzhou-based Sun Yat-sen University.

In order to transform China from a world factory into a world manufacturing power, the State Council, or the cabinet, unveiled the "Made in China 2025" plan earlier this month. Analysts said the plan will provide opportunities for Chinese companies to strengthen brand building.

According to the BrandZ rankings provided by Millward Brown in January, the total value of China's 100 most valuable brands topped $460 billion in 2015, which grew 59 percent since the ranking was launched in2011. The growth rate was faster than the 41-percent increase registered for the BrandZ Top 100 most valuable global brands.

Categorias: , China

Bernanke sees no risk of hard landing in China

China Daily - 10 minutos 38 segundos atrás

Former Chairman of the the US Federal Reserve Ben Bernanke speaks at the London School of Economics in London March 25, 2013. [Photo/Agencies]

Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise US rates should be viewed as a positive sign for the world's largest economy.

Bernanke, who participated in an open interview at a private-sector forum in Seoul on Wednesday, said the economic slowdown in China is necessary as it needs to change its growth model to be more sustainable in the long term.

"China was growing 10 percent a year. And it was doing that through heavy capital investment, steel plants and so on. Very export oriented," he said.

"As the country gets more rich and sophisticated that kind of growth is no longer successful." He added he was "optimistic" China's economy would not experience a hard landing.

Annual economic growth in the world's second-biggest economy slowed to a six-year low of 7 percent in the first quarter, prompting a range of stimulus measures from Beijing.

Commenting on the Asian Infrastructure Investment Bank (AIIB), Bernanke said it would create an opportunity for more useful projects around the world.

"First of all we care that international institutions do a good job. We have the World Bank and now the AIIB," he said. "The more the better."

Bernanke also said the expected US rate hike would be "anticlimactic" when it happens and that there would only be minor negative impact on South Korea.

"There may be some volatility. Countries like South Korea are very well placed because it has very good policy, good institutions. It's not weak or underdeveloped and doesn't know how to handle capital flows."

A Fed rate hike, expected by markets before the end of this year, would be something to cheer about, said Bernanke, who now works at the Brookings Institution and advises bond giant Pimco and hedge fund Citadel.

"I don't know when (the rate hike will come), but when that begins, that's good news, not bad news because it means the US economy is strong enough."

 

Categorias: , China

Wal-Mart makes online shopping steps for growth

China Daily - 10 minutos 38 segundos atrás

An outlet of Wal-Mart in Yichang, Hubei province. The multinational retail conglomerate launched an online-to-offline mobile platform in Shenzhen, Guangdong province, on Tuesday. [Photo/China Daily]

Wal-Mart Stores Inc, the multinational retail conglomerate, launched an online-to-offline mobile platform in Shenzhen, Guangdong province, on Tuesday, looking for new business growth amid challenges brought about by the booming online shopping.

The newly launched platforms include a mobile shopping application, named "Walmart to Go", online shopping sections in physical stores and multiple O2O e-payment options, according to the company.

The online shopping service is currently available in stores in Shenzhen and will be expanded nationwide gradually, according to the company.

Sean Clarke, president and CEO of Wal-Mart China, said launching the mobile shopping service was to meet the changing demands of customers as it plans to be a real O2O company.

"The online shopping service is a milestone as it is an enhancement and extension to our brick-and-mortar business. We plan to integrate the physical and digital retail business seamlessly," said Clarke.

Currently, Walmart's application offers more than 10,000 items, covering fresh, dairy and frozen foods and grocery, health and beauty products and household chemicals.

"From ordering on the app, picking products from the shelf, to home delivery or through self-pickups in stores, customers will be able to experience fast and efficient service," Clarke said.

Wal-Mart, which said products sold online are of the same quality and price as the ones in physical stores, will work with professional logistics companies to provide delivery services, according to the company.

John Furner, chief merchandising and marketing officer of Wal-Mart China, said the company's good quality products would help draw crowds of customers to its online shopping service.

"China is a fast growing and big market for online shopping, with lots of customers and varied needs. We believe our traditional customers would find a different online experience, compared with other existing big e-commerce platforms," said Furner.

A growing number of retailers including department stores in the Pearl River Delta have been keen on e-commerce and are looking for new business growth amid challenges brought about by online shopping.

Guangzhou Grandbuy, the largest department-store chain in Guangzhou, the capital of Guangdong, recently opened e-commerce sections in some of its stores that adopt the online-to-offline mode, allowing buyers to browse bonded goods in store and place orders online.

Moreover, the Guangzhou Friendship Store and Guangzhou Grandview are also preparing to launch such O2O services, according to local media reports.

However, industry sources said it could still take some time for traditional retailers to profit from online business.

"There are many big e-commerce platforms such as Taobao and JD.com, which have already grabbed huge online market shares," said Mo Daiqing, an analyst with the China E-commerce Research Center.

"It will be difficult for traditional retailers to catch up with e-commerce giants in online business. Retailers should offer preferential services and ensure good quality of goods in line with physical stores," Mo said.

Categorias: , China

China's coal production falls 6.1%

China Daily - 10 minutos 38 segundos atrás

Coal is loaded into trucks at a railway station in Jiujiang, Jiangxi province. [Provided to China Daily]

BEIJING - Coal production in China, the world's largest producer and consumer of the mineral, declined 6.1 percent in the first four months this year as the impact of the government's clean air and renewable energy policies began to weigh on the industry.

Production totaled 1.15 billion tons between January and April, with the pace of decline accelerating from a 3.5-percent fall registered in the first three months of the year, according to data released Tuesday by the National Development and Reform Commission (NDRC).

Coal imports also fell during the period, plunging by 37.7 percent from one year earlier to 69 million tons, the NDRC said in a report on its website.

Coal consumption accounts for about 66 percent of China's primary energy consumption, 35 percentage points higher than the world average. The country aims to bring its share of non-fossil energy to 15 percent by 2020 and 20 percent by 2030.

China's coal output fell in 2014 for the first time this century as a result of slowing economic growth, government efforts to reduce air pollution and increased investment in renewable energy. Analysts expect production to further decline this year.

Categorias: , China

Fancy cars at 1st CES Asia

China Daily - 10 minutos 38 segundos atrás

A Volkswagen e-Golf is recharging the battery through inductive charging, and an iPad is used to demonstrate the technology at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

The Consumer Electronics Association (CEA) for the first time entered Asia and settled the International CES Asia in Shanghai. The 2015 CES Asia started from Monday, and will end on Wednesday.

Volkswagen, Mercedes-Benz, Audi, Cadillac, Ford, Lincoln also joined the event showing their latest technologies including autonomous driving, intelligent charging, gesture control, Internet connection.

A Volkswagen e-Golf is autonomously moving to the parking lot at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

A Volkswagen Golf R Touch, with a sensor in the dash understanding gestures by driver and front passengers, is displayed at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

An Audi R8 e-tron piloted driving sports car is displayed at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

A Lincoln MKX customized SUV is displayed at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

Ford Performance GT is displayed at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

Ford Fusion Energi Plug-in hybrid car is displayed, with a charging box on the wall, at the first CES Asia in Shanghai on May 25, 2015. [Hao Yan / chinadaily.com.cn]

Categorias: , China

China cuts red tape in inter-bank bond trade

China Daily - 10 minutos 38 segundos atrás

An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010.[Photo/Agencies]

BEIJING - China's central bank on Tuesday canceled approval procedures in the inter-bank bond trade.

The People's Bank of China (PBOC) will now pay greater attention to the bond trade to protect investors' interests. Issuers should carry out their obligation to release information in a timely manner, said a notice on the PBOC website.

The move is in line with a State Council statement in March on canceling and readjusting administrative approval.

Categorias: , China

FTSE says to include China A Shares in global benchmarks

China Daily - 10 minutos 38 segundos atrás

Investor at a securities brokerage in Nanjing city, East China's Jiangsu province, May 25, 2015. [Photo/IC]

LONDON - FTSE, a London-based global index provider, announced on Tuesday it has started the transition to include China A Shares in its global benchmarks with the launch of two transitional indexes for Emerging Markets.

The two new Emerging Markets indexes include China A Shares at a weighting equivalent to total RQFII allocations and the initial weighting of China A Shares in the FTSE Emerging inclusion indexes will be approximately 5 percent, according to FTSE's announcement.

This is expected to increase to 32 percent (at March 31 2015 market values) when China A Shares are fully available to international investors, and hence resulting in Chinese stocks (including B-Share, H-Share, P Chips and Red Chips) to make up 50 percent of FTSE Emerging Index, it added.

"The inclusion of China A Shares is the most significant challenge today facing global benchmark providers," said Mark Makepeace, Chief Executive of FTSE Russell.

"The transition to include A Shares in global portfolios is now beginning and we will support this transition while ensuring that all users of our global benchmarks have sufficient time to manage the change," he added.

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.

FTSE Russell calculates thousands of indices that measure and benchmark markets and asset classes in more than 80 countries and regions, covering 98 percent of the investable market globally and trading on over 25 exchanges worldwide.

Categorias: , China

China's industrial profits grow in April

China Daily - 10 minutos 38 segundos atrás

BEIJING - Profits of Chinese industrial businesses rose 2.6 percent year on year to 479.5 billion yuan ($78.3 billion) in April, official data showed Wednesday.

The increase reversed the 0.4 percent dip in March, according to the National Bureau of Statistics (NBS).

In the first four months industrial profits shrank by 1.3 percent to 1.73 trillion yuan, narrowing the 2.7 percent drop recorded in the first quarter.

The bureau's calculations include companies with annual revenues exceeding 20 million yuan.

NBS statistician He Ping attributed the improvements to the growth of industrial production and sales, higher investment returns in industrial businesses and a fall in operating costs.

During the first four months of 2015, 30 of the 41 sectors surveyed reported year on year profit increases, with high-tech sectors, including computers and telecommunications, reporting profit increases of 23.3 percent year on year.

Raw material production along with other sectors saw profits slow as efforts to scale down the coal industry, to eliminate excess production capacity, continued. Profits from oil drilling and coal mining plunged 71.7 percent and 61.6 percent, respectively.

Private companies posted strong growth in the first four months, reporting profit increase of 6.1 percent year on year, while State-owned enterprises dropped 24.7 percent year on year.

Despite the positive profit data, He Ping warned of a grim outlook for industrial enterprises due to sluggish demand, slowing output, dropping prices and lackluster growth in core business turnover.

Enterprises must also deal with piling inventories and rising receivables caused by weak sales, He added.

Categorias: , China

Chinese cosmetics firms shine in Mideast with New Silk Road drive

China Daily - 10 minutos 38 segundos atrás

DUBAI - Despite increased competition and instability in some Arab countries, Chinese producer of cosmetics and wellness products said the New Silk Road axis provides many opportunities to expand.

At the ongoing 20th edition of the annual Beautyworld Middle East congress, for the first time a Chinese delegation consisting of 30 executives is hosted for the world to learn more about the latest products and trends in lipsticks, make-up, fragrances, haircare and skincare.

Organized by Germany's fair company Mess Frankfurt, this year's Beautyworld Middle East, the biggest beauty congress in the region, hosts some 1,368 exhibitors, of which 213 are from China.

Most of them have been participating for many years, like Zuofun Cosmetics from Guangzhou, capital of Guangdong province, which has nine years of loyalty for the event.

Sales manager Jenny Leng said the fragrance production firm in southern China exports made-in-China perfumes to most countries in the Middle East and Africa (MEA). She added that for Zuofun, China's New Silk Road and the Belt and Road Initiative, which aims to upgrade trade links between East Asia and Africa via the Middle East, is an immense gift, as the company's biggest export markets in MEA are Iran, Saudi Arabia and Nigeria.

"The closer the axis Asia, Middle East and Africa move together in relation to trade and infrastructure projects along the New Silk Road, the better for all, exporters and importers alike," she said.

According to Euromonitor International, the Gulf states, Saudi Arabia, Iran and the United Arab Emirates (UAE), held in 2014 a combined market share of 37 percent of MEA's $25.5 billion personal care market.

However, Leng added that export to some markets have declined by 30 percent due to instability in some Arab markets. In spite of such challenges, Zuofun would continue to expand. She added that once economic sanctions would be lifted on Iran, exports to the Islamic republic are expected to pick up again.

Ivy Chan, senior overseas marketing executive at Glory Tins Manufactury based in Dongguan city, Guangdong province, said she exhibits for the fourth time at the fair.

"The UAE is not our biggest but the reason why we have been participating here since 2012 is because we meet potential customers from along the New Silk Road. For example Kenya and Nigeria are important markets for us," Chan said. Glory Tins manufactures packages for cosmetic firms and global consumer brands such as Pfizer, Hello Kitty and Lipton Tea.

"A clear market segmentation is key to win the consumers' hearts and minds along the New Silk Road," said Lizhen Lao, export manager at RS Nail, a producer of artificial fingernails from Guangzhou. "In our home market China, we distribute 1,500 different nail colors as Chinese women always try out different styles, but for our clients in the Middle East, 50 colors are sufficient," Lao said.

Euromonitor said the value of MEA region's beauty and personal care market would grow by 4.25 percent per year to reach $30 billion by 2018. Arab female visitors to the congress told Xinhua that China enjoys a good reputation in wellbeing products, in particular in wellness based on traditional Chinese medicine and in fragrances.

Zoe Zheng, a sales manager, said her employer Hangzhou Tianshi Packing and Printing based in Hangzhou, Zhejiang province, was not facing challenges.

"On the contrary, we are expanding pretty fast. This our eighth time we are at the Beautyworld Middle East and eight is a lucky number in China, so we are optimistic to gain many more clients this year," she said.

Zheng added that Hangzhou Tianshi puts the money where its mouth is. "Europe remains our biggest export market. That is why we run a branch in Germany, in the northern city of Neumunster."

The 20th edition of the Beautyworld Middle East runs through Thursday, and expects more than 29,000 professional visitors.

Categorias: , China

A young part-time chauffeur on the road

China Daily - 10 minutos 38 segundos atrás

Kaka not only sells gadgets, but moonlights as a chauffeur on a car-hailing app in Nanchang, May 21, 2015. [Photo/CFP]

Don't be surprised if a Mercedes Benz, BMW or other high-end car picks you up in Nanchang, Jiangxi, sometime. With car-hailing apps, which offer pickup services with licensed cars and chauffeur services booming, many car owners are willing to drive you around in their luxury cars to earn some extra money, said Kaka, a young man who has a cell phone gadgets store and is also a part-time chauffeur in the city.

Kaka checks his phone while he is not busy in a coffee shop in Nanchang, May 21, 2015. [Photo/CFP]

Calling a car with chauffeur service is great because you do not have to join a long queue to catch a taxi, Kaka said. He has been using the car-hailing app since he traveled in Shanghai two months ago.

Information about customers calling for the service pops up on Kaka's smart phone, May 21, 2015. [Photo/CFP]

The job is not easy, Kaka said. It is necessary to have a good car, to provide good service to clients by being polite and arriving on time, patiently waiting, opening the door for the clients, and keeping the car empty.

Kaka asks his customer about the destination, May 21, 2015. [Photo/CFP]

Currently, it costs 9 yuan to flag down a chauffeur-driven car, which is almost the same as a taxi in Nanchang, he added. Kaka can earn more than 5,000 yuan per month from the part-time job, and some clients have become his friends through chatting in the car while driving.

Kaka drives on a bustling road in Nanchang, May 21, 2015. He said, many taxi drivers are optimistic about the industry, and have started to work for the chauffeur service. [Photo/CFP]

Kaka poses with his car in Nanchang, May 21, 2015. [Photo/CFP]

Categorias: , China

Shenzhen looks to move up the ladder

China Daily - 10 minutos 38 segundos atrás

Boosting investment in innovation and nurturing talent could take the economy of Shenzhen, a testing ground for China's reform and opening-up, to a higher level within five years, according to local officials.

The new Party leadership of Shenzhen has unveiled an ambitious goal to increase the city's GDP to 2.6 trillion yuan ($419.4 billion) by 2020. Last year, the city's GDP was 1.6 trillion yuan, and it was mainly driven by innovation and technology development.

"The ambitious goal is based on an annual increase of about 8 percent in the local economy, assuming lower energy consumption and increased investment in innovation and technology," said Yang Xinhong, deputy director of the Shenzhen Statistics Bureau.

A robust economy in recent years has helped Shenzhen surpass Hong Kong to become the most competitive and dynamic city in China, according to a recent report by the Chinese Academy of Social Sciences.

Shenzhen's Party congress concluded on Sunday, with new officials vowing to deepen reforms by attaching more importance to innovation and technology development.

According to a report delivered by newly elected Party chief Ma Xingrui, Shenzhen will give priority to development of the high-tech industry, finance, logistics and the creative sector.

In the past three decades, the economy of Shenzhen, which developed from a fishing village to a modern city following China's reform and opening-up, was supported by exports, investment and consumption, according to Yang.

"Priority will be given to investment in innovation, development of talent and capital," said Yang.

Citing DJI Technology Co, a major drone producer based in Shenzhen, whose sales grew nearly 80-fold within three years, Yang said that more talented staff will be recruited by companies in the city's emerging industries.

"The introduction of talent and technology will boost economic development," said Yang.

The electronics industry accounts for about 70 percent of the city's manufacturing sector and has become a backbone of the local economy, according to Yang.

According to Liu Jin, deputy director of the Shenzhen Science, Technology and Innovation Commission, the city's investment in research and development accounts for more than 4 percent of GDP.

The city's strategic emerging industries expanded annually by 20 percent in the past five years, according to Liu.

"We will boost efforts to support technology research and development platforms to accelerate the development of the local economy," Liu said at a recent investment forum in Shenzhen.

Despite increased investment in innovation by local authorities and companies, Shenzhen must still do more to recruit and develop talented staff who can support its economy, said Liu Jing, associate dean of the Cheung Kong Graduate School of Business.

"Shenzhen lags behind in the development of advanced science and technology research institutes, which are mainly located in Beijing and Shanghai," Liu said. The city should encourage the establishment of more such organizations and help recruit technology talent, according to Liu.

To support local innovation and industrial upgrading, the Cheung Kong school on Sunday launched a business community program in Shenzhen, aiming to build an educational and exchange platform between startups and well-established companies, according to the school.

Categorias: , China

Govt plans software guideline to protect data

China Daily - 10 minutos 38 segundos atrás

A man looks at Aliyun cyber security services, platform provided by Alibaba, which is shown at a cyber security exhibition on Nov 24, 2014. [Photo by Wang Yueling / Asianewsphoto]

China is mulling over a five-year software security guideline to safeguard the State secrets and data in key industries, a senior official from the Ministry of Industry and Information Technology said on Wednesday.

The government will focus on beefing up the safety of software in financial sector and applications used by government departments and State-owned enterprises this year, said Chen Wei, director of the software bureau at the ministry.

Chen did not disclose details of the proposed guideline.

Increasing the ability to keep key information safe is one of the most important tasks the ministry is working on.

The move may prove a new hurdle for overseas vendors as the government- backed projects tend to buy local software due to security concerns.

China is one of the largest software manufacturers in the world. Chen said the annual revenue for the industry is expected to exceed 10 trillion yuan ($1.61 trillion) by around 2021.

The total revenue of the country's software industry hit 3.7 trillion yuan in last year, a 20 percent jump compared to 2013, data from the ministry showed.

Categorias: , China

China to extract value from big data

China Daily - 10 minutos 38 segundos atrás

Attendees are seen at the Guiyang International Big Data Expo 2015 in Guiyang, capital of Southwest China's Guizhou province, May 26, 2015. The Guiyang International Big Data Expo 2015 kicked off on Tuesday, attracting enterprises such as Alibaba, Foxconn, Huawei, etc. [Photo/Xinhua] 

GUIYANG - China attaches great significance to big data and will roll out measures to encourage IT-related entrepreneurship and innovation, according to a message from the premier released Tuesday.

Premier Li Keqiang left the message for the Big Data Expo, which opens on Tuesday in Southwest China's Guizhou province.

"Data is a basic resource and an important productive force. Big data, combined with cloud computing and the Internet of Things, is rapidly and deeply changing the ways of production and living," said Li in the message.

As the world's most populous country, China has accumulated an ocean of data from a huge amount of digital devices, said the premier, adding that this data could generate great value.

"China is mulling an action plan to boost big data-based innovation in search of better solutions to government decision-making, transport, medical care and education," said Li.

The Big Data Expo is the first of its kind worldwide.

Categorias: , China

Lebanon aims at playing key role in China's Belt and Road Initiative

China Daily - 10 minutos 38 segundos atrás

BEIRUT - Lebanon's Prime Minister Tammam Salam vowed Tuesday not to despair despite the enormous challenges facing the country, stressing that Lebanon aims at a key role in the Belt and Road Initiative.

"Lebanon is looking forward to playing a key role in the economic course of Silk Road initiative due to its special (geographic) position," Salam said in a speech at the sixth session of the Conference of Arab-Chinese Businessmen.

The initiative of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by Chinese President Xi Jinping in 2013, is aimed at reviving the ancient trade routes that span Asia, Africa and Europe.

"The Arab-Chinese Businessmen Forum constitutes the key pillar of cooperation between the Arab world and China. This event also coincides with the 60th anniversary of the first trade agreement between Lebanon and China," Salam said.

"China has become the first trade partner for Lebanon, and we expect this partnership to extend owing to the new horizons of cooperation," he added.

Salam also indicated that Lebanon was determined to join the Asian Infrastructure Investment Bank (AIIB).

The AIIB is designed to finance infrastructure construction in the continent. It will have authorized capital of $100 billion and the initial subscribed capital is expected to be around $50 billion.

The bank, which will be headquartered in Beijing, is expected to be officially established at the end of 2015.

Turning to the local issues, Salam said "we are exerting efforts to maintain the nation's best interest through dialogue."

Lebanon marked on Monday one year vacuum in the presidential post since Michel Suleiman's six-year term ended May 25 last year and the parliament failing in 23 consecutive times to elect a new president.

Categorias: , China

Guizhou creates preferred place for start-ups

China Daily - 10 minutos 38 segundos atrás

Guizhou has been praised as "the first choice for business start-ups" by many overseas Chinese returnees, with its one-stop services including financial support, housing security and tax incentives.

The settlement of Foxconn, China Telecom, China Mobile and China Unicom data centers in Guiyang, capital of Guizhou, has driven the province to become a top-level big data center in China and has drawn the attention of several high-tech and energy-saving enterprises.

Leading players in the industry see a future in Guizhou in the cloud computing and big data industry, according to the Guizhou Talent Fair Committee.

"Talent shortage is the main concern that Guizhou has to overcome," an official of the Guizhou Human Resources and Social Security Bureau said, mentioning that things are going well as Guizhou has changed its way of attracting talent.

Methods including consultation, lecturing, part-time and short-term employment, project contract and technical cooperation. Now, with a more flexible talent flow system, the talent brought into Guizhou outnumbers that moving out.

The province has created a green channel to introduce senior professionals that have international work experience and are familiar with international regulations and modern management.

Guizhou plans to, in three to five years, cultivate about 10 world-class professionals who have the potential to become academicians of the Chinese Academy of Sciences (CAS) and Chinese Academy of Engineering (CAE), 100 national influential leading personnel and 1,000 leaders in related industries.

Big data helps to attract talent. Guizhou has become the focus of the world's big data and cloud computing industry with the establishment of the first national big data industry clustering demonstration district on February 25.

Based on the big data industry, the province has introduced policies to select and train professionals, solve their housing problems, and strengthen professional and technical teams.  

According to incomplete statistics provided by the Guizhou Talent Fair Committee, the Guizhou talent fair has become the major platform to introduce talent on a large scale, attracting an average of over 30,000 talents each session with 5,502 of them employed at the fair in total, including 768 doctors and 2,765 postgraduates.

Categorias: , China

Guizhou creates preferred place for start-ups

China Daily - 10 minutos 38 segundos atrás

Guizhou has been praised as "the first choice for business start-ups" by many overseas Chinese returnees, with its one-stop services including financial support, housing security and tax incentives.

The settlement of Foxconn, China Telecom, China Mobile and China Unicom data centers in Guiyang, capital of Guizhou, has driven the province to become a top-level big data center in China and has drawn the attention of several high-tech and energy-saving enterprises.

Leading players in the industry see a future in Guizhou in the cloud computing and big data industry, according to the Guizhou Talent Fair Committee.

"Talent shortage is the main concern that Guizhou has to overcome," an official of the Guizhou Human Resources and Social Security Bureau said, mentioning that things are going well as Guizhou has changed its way of attracting talent.

Methods including consultation, lecturing, part-time and short-term employment, project contract and technical cooperation. Now, with a more flexible talent flow system, the talent brought into Guizhou outnumbers that moving out.

The province has created a green channel to introduce senior professionals that have international work experience and are familiar with international regulations and modern management.

Guizhou plans to, in three to five years, cultivate about 10 world-class professionals who have the potential to become academicians of the Chinese Academy of Sciences (CAS) and Chinese Academy of Engineering (CAE), 100 national influential leading personnel and 1,000 leaders in related industries.

Big data helps to attract talent. Guizhou has become the focus of the world's big data and cloud computing industry with the establishment of the first national big data industry clustering demonstration district on February 25.

Based on the big data industry, the province has introduced policies to select and train professionals, solve their housing problems, and strengthen professional and technical teams.  

According to incomplete statistics provided by the Guizhou Talent Fair Committee, the Guizhou talent fair has become the major platform to introduce talent on a large scale, attracting an average of over 30,000 talents each session with 5,502 of them employed at the fair in total, including 768 doctors and 2,765 postgraduates.

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China discovers huge oil deposit

China Daily - 10 minutos 38 segundos atrás

BEIJING - China National Petroleum Corporation (CNPC) announced on Tuesday that it has discovered a major "tight oil deposit" in Northwest China's Shaanxi province.

Tight oil is an unconventional energy, which exits in petroleum-bearing formations like shale or sandstone. Commercial production usually requires similar technology to shale gas production.

The CNPC estimated the reserve in the deposit is around 100 million tons, the largest one ever discovered in China, and will produce 700,000 tons of tight oil annually.

China is one of the world's largest oil buyers, and nearly 60 percent of its oil consumption comes from imports.

To keep external dependence under 61 percent, the government is assessing solar and wind power as well as unconventional energy including shale gas and tight oil.

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Big data competition for grassroots companies

China Daily - 10 minutos 38 segundos atrás

The Guiyang Grassroots Big Data Innovation Competition, which aims to use big data to push government reform and raise people's living standards, was formally started in Beijing on March 3.

The project is to collect innovative ideas and apps in relation to application of big data from grassroots enterprises nationwide. The competition will be divided into two parts: the stage of ideas and apps competition and that of commercial application of those ideas.

Those good ideas and apps will be selected and shown at the upcoming international big data industry exhibition, which will be held in Guiyang in May.

Financial supports are available for those top 100 innovative ideas, which will be chosen by judging panels. Angel investment and venture capital will be introduced to the competition to give startups capital support.

The Guiyang government will also provide supports to projects with promising market potentials. The government may help them gain access to bank loans, relevant information and local market.

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New industrial revolution may start from Guizhou

China Daily - 10 minutos 38 segundos atrás

Guizhou may be on the cusp of starting a new industrial revolution in the digital age, according to comments made by Wang Jian, the chief technology officer of Alibaba, at a recent two sessions interview.

He noted that Guizhou is under pressure to transform its economy and that its desire for reform is far more than in developed cities in coastal areas.

"Cloud computing and the big data industry would be a wise choice for Guizhou," said Wang.

Alicloud, a subsidiary of Alibaba Group, has helped the Guizhou provincial government to build a cloud service platform to break the data barriers among different governmental departments in Guizhou and enable them to share data with each other.

Wang has been to Guizhou five times and has been impressed by Guizhou's entrepreneurs. Wang was particularly impressed by the Guizhou Rongchung Sci&Tech Company, which was founded by eight under graduates who created a game based on cloud computing; the company is valued at more than 30 million yuan ($4.8 million). "It is a miracle in cloud computing," Said Wang.

"Big data is the future of information technology. If Guizhou stays in big data and cloud computing, it will attract more talented people," Wang added.

Alibaba Group Holding Limited (NYSE: BABA) is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals.

Aliyun is a Linux distribution software for smartphones based on the Android Open Source Project and is developed by AliCloud, a subsidiary of Alibaba Group.

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