China approves pilot to open mobile telecoms market, boost competition – Yahoo! China has approved a pilot scheme allowing private companies to piggy back on the country’s three dominant telecommunications providers to offer own-brand mobile services, opening the world’s largest mobile phone market to increased competition.
Authorities have approved 11 private “virtual carriers” to resell mobile telecommunications services, the Ministry of Industry and Information Technology (MIIT) said in a statement on its website on Thursday.
Tianjin launches China’s latest carbon market | Reuters The Chinese city of Tianjin on Thursday launched the country’s fifth emissions trading scheme as the world’s biggest-emitting nation took another step towards reining in its impact on the environment.
The newest of China’s carbon markets caps CO2 emissions from iron and steel producers, chemical facilities, power and heat generators, and oil and gas exploitation.
Secondhand housing market sees chill in Dec |Industries |chinadaily.com.cn The secondhand housing market cooled in December in Beijing and Shanghai as turnover fell, and an increasing number of sellers dropped prices, leading industry observers to wonder if the move indicates an inflection point in the white-hot property market.
Internet cafés losing out in China’s online battle – FT.com “Several years ago, we were able to get tens of thousands of [renminbi] a day, but now we are only able to earn several thousand,” says Mr Liu, who runs an airy café with around 30 computers in Beijing’s central Chaoyangmen district of offices and shopping malls.
China Seeks Comments on Revisions to Foreign Investment Laws | China Briefing News China’s Ministry of Commerce (MOFCOM) is mulling over revising the country’s foreign investment laws and is currently soliciting comments for the following three laws:
- The Law of the People’s Republic of China on Wholly Foreign-Owned Enterprises (promulgated on April 12, 1986, last amended on October 31, 2000);
- The Law of the People’s Republic of China on Sino-Foreign Equity Joint Ventures (promulgated on July 1, 1979, last amended on March 15, 2001); and
- The Law of the People’s Republic of China on Sino-Foreign Cooperative Joint Ventures (promulgated on April 13, 1988, last amended on October 31, 2000).
Another Sichuan Businessman Caught in Banking Scandal – Wu Zhong, chairman and Communist Party secretary of the Chengdu Investment Holding Group (CDIH), is under investigation for “serious discipline violations,” anti-corruption officials in Chengdu said on December 25. The phrase “serious discipline violations” often means graft.
Xiamen-Shenzhen high-speed skepticism – BUSINESS – Globaltimes.cn The total investment for the construction of the Xiamen-Shenzhen line was around 50 billion yuan, with 70 percent of the money coming from bank loans. It was estimated that it would take 17 years for the railway line to recover its total cost, according to its initial design plan.
Wooing China’s Princelings-Caijing While recent scandals have put China’s princelings under a harsh media spotlight, they have been hot commodities for Western companies seeking to capitalize on their guanxi (connections) in order to secure multi-billion dollar transactions. The list of financial institutions that have engaged in such hiring practices reads like a who’s who of investment banking.
U.S. IPO Window to Reopen for Chinese Companies in 2014: Report -Caijing The window for Chinese companies to get listed on U.S. markets is expected to reopen next year after U.S. investors’ sentiment for Chinese companies improved late this year following a series of accounting scandals, said a report released by ChinaVenture Investment Consulting Group.
Guangzhou Holds back Plans to Lift House Restrictions-Caijing Local authorities in Guangzhou made a retreat yesterday from a statement that it would consider lifting government controls in the real estate sector, after It was found conflicting with a central government order to keep these policies in place.
Wing Thye Woo lays out the conditions that China must meet to internationalize its currency and turn Shanghai into a global financial center. – Project Syndicate China is increasingly debating whether or not the renminbi should be internationalized, possibly joining the US dollar and the euro as an international vehicle currency (IVC) – that is, a currency that other countries use to denominate the prices of their traded goods and international loans. Related to this is a debate about whether Shanghai can become a first-tier international financial center (1-IFC) like London and New York.
Police Find Tunnel Under China-Hong Kong Border – WSJ.com The tunnel, equipped with lights, vents and a rail track with pulleys to ferry contraband, was found by Shenzhen police before it was put to use. The passage was about 40 meters (131 feet) long and led from a garage in Shenzhen to a secluded thicket of reeds in Hong Kong, according to state media reports.
Companies Can Make Money in China but It Comes With its Own Unique Risks Chinese demand is a mixed blessing. As an investor, you need to watch what China is doing because any changes could have an outsized impact on your natural-resource holdings. Copper and timber are two areas to monitor right now.
That said, China is still one of the fastest growing countries in the world — a silver lining for even out-of-favor industries like iron ore and coal. When supply and demand balance out, prices will again start to rise and companies like Peabody, BHP, and Rio will benefit.
DZHNews.com- Breaking China Biz News, Financial Updates, Corporate News Data showed that chemical, construction materials, iron and steel, nonferrous metals, hydropower and coal industries saw production growth in the first 11 months.
95% self-sufficiency urged for grains|chinadaily.com.cn After enjoying a decade of stable growth for grain production, China will take decisive measures to ensure its self-sufficiency rate, with enough arable land and adequate overseas cooperation in 2014.
Alibaba Unit to Offer Telecom Services in China – WSJ.com China’s telecom regulator said on Thursday that it awarded licenses to 11 private companies to run mobile telecom businesses based on services leased from China’s state-run carriers. Analysts have long said the creation of the new businesses, known in the industry as virtual telecom service providers, could offer a first step to breaking up the monopoly held by China’s three state-run telecom service providers—China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China Telecom Corp.
11 Companies Get Gov’t Approval for Telecom Resale Pilot – The country’s Big Three telecom operators – China Telecom, China Mobile and China Unicom – each selected more than a dozen partners for the program and submitted their names to the ministry for review. Names they were reported earlier, such as Gome Electrical Appliances and Suning Appliance Co., are not on the final list.
The first batch of mobile virtual network operators (MVNOs) includes e-commerce operators Jingdong Mall and Alibaba Group’s Net.cn, mobile phone retailer D.Phone and value-added service provider Bewinner Communications.
Debt of China Railway Corp reaches RMB3tn and counting｜Companies｜Business｜WantChinaTimes.com The company’s debt hit 3.06 billion yuan (US$504billion) as of Sept. 30, compared with its total assets of 4.8 trillion yuan (US$797.3 billion), with net loss reaching 1.7 billion yuan (US$280 million) in the first nine months.
CNTV, Tencent, Skyworth Partner on ‘WeChat TV’ | Marbridge Consulting – China Television News Future TV, the internet TV subsidiary of China Central Television’s (CCTV) national online TV platform operator CNTV, has partnered with consumer electronics manufacturer Skyworth Digital Holdings (0751.HK) and internet firm Tencent (0700.HK) to jointly release an internet TV set, the “WeChat TV” (“Weixin Dianshi”).
Chinese Taxi App Didi Reportedly Raising $100 million Funding, Will Add WeChat Payment Didi has stood out from a crowd of taxi apps in China thanks to the backing from investors especially Tencent. Didi’s major competitor now is Kuaidi who is venture backed by Alibaba. Likewise, Kuaidi users can make payments with Alipay, the digital payment service of Alibaba Group. Kuaidi announced to acquire the fourth largest taxi app Dahuangfeng in China last month, saying Alibaba would inject more funding into it.
Tech in China: Ups and Downs of Taxi Apps in 2013 The leading ones include Beijing-based DidiDache, Hangzhou-based Kuaidi Dache, Beijing-based YaoyaoZhaoche, and Shanghai-based Dahuangfeng. DidiDache received $15 million of funding from Tencent at valuation of $60 million and reportedly to raise $100 million round led by Citic and Tencent. KuaidiDache secured several millions of US dollars from e-commerce giant Alibaba.
Tech in China 2013: Chinese Internet Giants Shopping Crazily The old story: Big Chinese Internet companies would, rather than acquiring or investing in startups, like to hire a bunch of engineers to build products on their own or do pixel-to-pixel knockoffs. Names like Tencent are notorious for killing startups by doing so with better developed products or the ability of converting existing users. Recognized reasons include 1) the costs of hiring several smart-enough Chinese engineers must be much lower than buying a startup, and 2) intellectual property rights haven’t been well protected in China.
Zoomlion Buys Germany’s M-Tec – WSJ.com Chinese construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Co. has acquired a German dry mortar equipment producer M-Tec, in the latest example of Chinese building machinery players expanding overseas amid a downturn at home.
China Auto Industry News | Welcome Another New Brand To the Chinese Automarket: Enranger – From Weichai | China Car Times – China Auto News The Shandong based company has now launched its own automotive passenger car brand named Enranger in English or Ying Zhi in Chinese. At a press conference earlier this week Weichai explained its brand image; the new company will focus entirely on SUV and MPV products with its name a portmanteau of the word Engine and Energy, which of course will come from Weichai’s own green energy and at the same plays on the word ‘Ranger’
Two Rail Giants Both Claim over Half of Urban Transit Market – As the last round of subway procurements ended in December, China South Locomotive & Rolling Stock Corp. Ltd (CSR) told Caixin that it occupied 54.24 percent of the domestic market in 2013. However, China North Locomotive & Rolling Stock Corp. Ltd (CNR) said it has received contracts for 2,000 metro cars this year, totaling more than 50 percent of the market.
Meanwhile, a third player, Beijing Subway Rolling Stock Equipment Co. Ltd., has entered the market in recent years. It claimed 7.7 percent of the metro vehicle market in 2012, but has not released figures for this year.
Volkswagen Poised to Beat General Motors in China Sales – Bloomberg Both companies have surpassed their targets to deliver more than 3 million vehicles in China this year, with Volkswagen crossing the mark on Dec. 5 and GM a week later. The German automaker held a lead of about 70,000 vehicles through the first 11 months, according to data from the automakers.
Posted from Diigo.