Posts tagged ‘Chinese language’

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20/02/2015

Don’t Wear Pig T-Shirts in Dubai: Xinhua’s Official Online Guide for Chinese Tourists – China Real Time Report – WSJ

China’s numerous fans of the novel “Cloud Atlas” will be familiar with author David Mitchell’s adage: There ain’t no journey what don’t you change you some.

As many in the world’s most populous country pack their bags this week and leave on jet planes for horizons far, authorities here are hoping that Chinese travelers, too, will transform – specifically by becoming more mannerly international travelers.

After a series of embarrassing recent incidents, China’s state-run media Xinhua recently did its part to help citizens discern good behavior from bad by publishing an online guide to overseas etiquette. “Who wants to be labeled uncivilized by foreigners?” asks the Xinhua article, published a few days ahead of this year’s Spring Festival Holiday.

To avoid that, the piece offers advice to travelers, including items tailored to specific destinations.

Doing Dubai? Don’t talk about pigs. And don’t wear items of clothing that have images of pigs on them. (Thanks for the fashion tip Xinhua.)

On Safari in Kenya? Please, get permission before posing and saying “cheese!” next to Masai warriors. And keep your hands off that ivory.

The same applies to coral: It belongs in Fiji and not on auntie’s shelf in Fujian province.

Vacationers from the People’s Republic have acquired a reputation for being unruly at times, and have lately made global headlines by attacking flight attendants, fighting in airplane aisles and opening emergency doors in non-emergency situations. Recent incidents have led China to consider establishing an air-passenger blacklist that would ban travelers who continually misbehave.

A relative newcomer to overseas vacations, China has been quick to catch the travel bug. According to the China National Tourism Administration, more than 100 million Chinese ventured abroad in the eleven month period ending November last year. By contrast, in 1998 that number was just 8.4 million. In a recent report, Hong Kong brokerage CLSA said it expects the total number of Chinese outbound travelers to hit 200 million in 2020.

via Don’t Wear Pig T-Shirts in Dubai: Xinhua’s Official Online Guide for Chinese Tourists – China Real Time Report – WSJ.

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18/02/2015

Chinese insurer Anbang extends M&A drive with $1 billion South Korea buy | Reuters

China’s Anbang Insurance Group is paying $1 billion to buy a controlling stake in South Korea’s Tong Yang Life Insurance, extending a global acquisitions drive that has already seen it spend $10 billion in under four months.

Anbang agreed to buy a combined 63 percent stake in South Korea’s eighth-largest life insurer from three separate shareholders for 1.13 trillion won ($998 million), or 16,700 won per share, Tong Yang said in a regulatory filing on Tuesday.

This follows once-obscure Anbang’s deal announced just a day earlier to buy an insurance arm of Dutch bank and insurer SNS Reaal for at least 1.4 billion euros ($1.6 billion).

The privately-held insurer and asset manager, which according to a media report is considering an initial public offering this year, recently sealed a $1.95 billion purchase of New York’s landmark Waldorf Astoria hotel. It also bought the Belgian banking operations of Dutch insurer Delta Lloyd NV, for 219 million euros.

The flurry of deals shows Anbang’s global ambitions and comes as China’s financial firms are increasingly targeting assets outside of home for growth.

via Chinese insurer Anbang extends M&A drive with $1 billion South Korea buy | Reuters.

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14/02/2015

Military corruption: Rank and vile | The Economist

SO EXTENSIVE was the stash of jade, gold and cash found in the basement of General Xu Caihou’s mansion in Beijing that at least ten lorries were needed to haul it away, according to the Chinese press last October. Given General Xu’s recent retirement as the highest ranking uniformed officer in the armed forces, this was astonishing news. General Xu, the media said, had accepted “extremely large” bribes, for which he now faces trial. It will be the first of such an exalted military figure since the Communist Party came to power in 1949.

The People’s Liberation Army (PLA)—as the Chinese army, navy and air force are collectively known—has not fought a war for 35 years. But the world’s largest fighting force is now engaged in a fierce battle at home against corrosion within its ranks.

Xi Jinping, China’s president (pictured, pointing), has taken his sweeping anti-corruption campaign into the heart of the PLA, seemingly unafraid to show that a hallowed institution is also deeply flawed. In January the PLA took the unprecedented step of revealing that 15 generals and another senior officer were under investigation or awaiting trial. It said it would launch a stringent review of recruitment, promotions, procurements and all of its financial dealings in order to root out corruption.

One reason Mr Xi is keen to clean up the army is to ensure that it remains a bulwark of party rule. The PLA is the party’s armed wing—its soldiers swear allegiance to it rather than the people or the country. All officers are party members and each company is commanded jointly by an officer in charge of military affairs and another whose job it is to ensure troops toe the party line. Mr Xi has repeatedly stressed the party’s “absolute leadership” over the PLA. His definition of a “strong army” puts “obedience to the party’s commands” before “capability of winning wars”.

via Military corruption: Rank and vile | The Economist.

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14/02/2015

Jack Ma Tells Alibaba Staffers: No Red Packets This Year – China Real Time Report – WSJ

Instead of handing out envelopes of cash to Alibaba’s employees this Lunar New Year, Jack Ma is distributing a huge reality check.

Chinese companies typically hand out red envelopes – known as hongbao – stuffed with money to employees on the eve of the big Lunar New Year holiday, which begins Wednesday. Alibaba Group would seem to be good for a similar reward, given its $25 billion initial public offering bonanza in September.

But in a post on his personal microblog site Friday, Mr. Ma said such rewards are reserved only for exceptional results.

“The reason for not distributing red envelopes is that in the past year, Alibaba Group has not had exceptional results and not had any special surprises,” said Mr. Ma, the company’s founder and executive chairman. “The success of becoming listed should not be a surprise as it was the result of all of Alibaba’s employees’ work over 15 years. But aside from going public, objectively speaking, we haven’t been that satisfied with our results in 2014 that we should distribute red envelopes.

“We must objectively and calmly see our own results, rationally regard external views and not let ourselves be lost in illusory fame,” he said.

Ouch.

via Jack Ma Tells Alibaba Staffers: No Red Packets This Year – China Real Time Report – WSJ.

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12/02/2015

High-speed trains steer to overseas destinations[1]- Chinadaily.com.cn

Chinese high-speed train companies are eyeing more contracts in overseas markets.

High-speed trains steer to overseas destinations

“The US will be the next strategic focus for us, after successfully winning the Boston contract,” Yu Weiping, vice-president of China CNR Corp, told China Daily on Wednesday.

CNR won a 4.12 billion yuan ($659 million) contract last year to supply metro cars to Boston’s subway system, the first US rolling stock order with a Chinese company.

“At least part of the metro cars will be assembled locally,” said Yu, who is in charge of the company’s overseas business. The company is exploring more opportunities in cities such as New York and Washington.

CNR also won a contract last year to supply 232 diesel locomotives to South Africa. Yu said the company will establish local manufacturing companies and create jobs for local employees.

Li Wen, deputy general manager of the corporate business department at the Export-Import Bank of China, said on Wednesday that the bank is involved in promoting a group of important railway projects, including a high-speed train project in California. Li said at the end of January that the bank had provided $13 billion in loans to 35 overseas railway equipment export and rail construction projects.

CNR and CSR, China’s major high-speed train manufacturer, have announced a plan to merge to become the world’s largest train manufacturer. Shareholders will vote on the move on March 9.

via High-speed trains steer to overseas destinations[1]- Chinadaily.com.cn.

Posted in China alert, Economics, exports, Manufacturing, railway | Leave a Comment »

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05/02/2015

Alibaba’s Ant Financial to buy 25 percent of India’s One97 | Reuters

Ant Financial Services Group, an affiliate of China’s Alibaba Group Holding Ltd (BABA.N), has agreed to buy 25 percent of Indian payment services provider One97 Communications, tapping into the country’s smartphone and online industry boom.


Embed from Getty Images

The companies did not provide the value of the deal, but a person with knowledge of the matter called the investment a precursor to One97 listing on the stock exchange, and said the stake was worth more than $500 million.

The deal values One97 at more than $2 billion, making it one of the most-valuable start ups in the country. One97 runs Paytm, an online platform through which users can shop or pay utility bills, whereas Ant runs Paytm’s Chinese peer Alipay.

Alibaba spokeswoman Teresa Li and One97 founder Vijay Shekhar Sharma declined to disclose the value. Sharma told Reuters that Ant would buy new shares in his company.

Paytm has benefited from the spread of affordable handsets and internet connectivity which has turned India into the fastest-growing smartphone market in the Asia-Pacific region, according to researcher IDC.

via Alibaba’s Ant Financial to buy 25 percent of India’s One97 | Reuters.

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20/01/2015

China raises wages for govt workers at least 31 percent – document | Reuters

(Reuters) – China has raised the wages of government workers by at least 31 percent, according to a document seen by Reuters on Tuesday, as part of efforts to combat corruption and lift the spending power of millions as the country seeks to increase consumption.

The basic salaries of some civil servants would be almost tripled, according to the document distributed to China’s cabinet and dated Jan. 12. It said the increases would be effective from Oct. 1, 2014.

The change is part of a broad effort by Beijing to reform the compensation levels of government workers to improve efficiency, reduce graft and hold officials more accountable for their own performance.

Executives at some Chinese state-owned companies, notorious for their inefficiency, suffered pay cuts this month.

“The pay hike indicates Beijing’s goal of improving the quality of life for the average Chinese,” Nomura economists said in a note. They said it was the first wage rise in eight years for central government workers.

via China raises wages for govt workers at least 31 percent – document | Reuters.

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17/01/2015

Alibaba in major initiative to court China consumer for U.S. retailers | Reuters

China’s Alibaba Group Holding Ltd (BABA.N) plans a major move to win U.S. business this year, by offering American retailers new ways to sell to China’s vast and growing middle class.

The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou, Zhejiang province early November 11, 2014. REUTERS/Aly Song

Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world’s largest Internet retailer is using the calling card of China’s consumers to attract U.S. partners, two sources close to the company told Reuters.

Long seen as the most potent threat to Amazon.com Inc (AMZN.O) with $300 billion in global sales, the moves add up to a conservative approach to expanding in the United States, contrary to industry speculation that the company may be plotting a direct assault on U.S. soil.

That considered strategy, outlined to Reuters for the first time by the sources and executives who work directly with the Chinese company, is intended to heighten awareness in the United States of what Alibaba does, gain goodwill in an important Western market, and lay the groundwork for a longer-term play.

At the heart of its push are Alibaba’s and Alipay’s trial deals to handle Chinese sales, payment and shipping for some of the biggest names in U.S. retail from Neiman Marcus Group [NMRCUS.UL] to Saks Inc. Both confirmed the agreement but would not talk about how the pilots are faring.

The Chinese companies will also work with U.S. startup Shoprunner, an online mall for U.S. retailers in which it owns a stake, and retail services provider Borderfree Inc (BRDR.O) to court Chinese consumers.

And Alibaba is preparing a marketing campaign to raise awareness among U.S. businesses of its global business-to-business wholesale platform, Alibaba.com, so they can buy and sell to and from global suppliers.

via Alibaba in major initiative to court China consumer for U.S. retailers | Reuters.

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12/01/2015

Northwest set to push Silk Road links – China – Chinadaily.com.cn

China’s northwest regions are planning to invest more in infrastructure, tourism and tourism-related industries to attract more visitors to the ancient Silk Road that linked China with central Asian nations.

Northwest set to push Silk Road links

Shaanxi province, whose capital, Xi’an, was the starting point of the ancient Silk Road, has launched a tourism investment fund of 5 billion yuan ($804 million).

“Thanks to the rising influence of China’s western tourism, the tourism industry of Shaanxi province has enjoyed a fast and steady growth in recent years,” said Bai Aying, vice-governor of Shaanxi province. “Now Shaanxi province has invested a lot to operate major tourism projects with the theme of Silk Road culture.”

Gansu province, with more than 1,600 kilometers of the Silk Road, is rapidly improving its transportation network as well. According to the provincial tourism authority, in the next five years, Gansu will connect major national scenic spots with nearby cities, counties and major transport roads.

Gansu will also work to attract more overseas visitors by facilitating more international airlines and gradually opening international ports of entry at the Dunhuang and Jiayuguan airports.

In September 2013, President Xi Jinping proposed an economic belt that would revive the ancient Silk Road. The trans-Eurasian project is proposed to extend from the Pacific Ocean to the Baltic Sea.

This year has been set as the Silk Road Tourism Year by the China National Tourism Administration. It is expected to facilitate regional cooperation, deepen mutual understanding and establish mutually beneficial ties for all nations involved

Li Shihong, head of the administration’s marketing and international cooperation department, said CNTA will introduce a three-year plan to coordinate the Silk Road tourism development around the country. It also will help to leverage the economy in less-developed regions.

Industry insiders said they believe this is a new opportunity for China to reintroduce its western regions and upgrade tourism facilities and services.

“The Silk Road is one of the early tourism brands that China introduced to the world. It has cultural meanings and global reputation,” said Dou Qun, a tourism industry professor at Beijing Union University. “And China has developed tourism products along the Silk Road for more than 30 years that all provide a solid foundation for another round of development this year.”

“Besides marketing, tourism authorities should also work closely with other departments including culture, transportation and public facilities to expand the current tourism products and improve the tourism experience,” Dou said.

via Northwest set to push Silk Road links – China – Chinadaily.com.cn.

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03/01/2015

How Chinese leader Xi Jinping turned Tasmanian toy into a bear essential | South China Morning Post

When Chinese President Xi Jinping stepped on to the airport tarmac in Australia‘s smallest state Tasmania, he was handed a purple fluffy toy called Bobbie.

President Xi Jinping receives the purple bear in Tasmania. Photo: AFP

Stuffed with lavender and wheat, the teddy bear has since captured the hearts – and wallets – of Chinese consumers.

Bobbie has become an overwhelming success in China with a remarkable following – helping creator Robert Ravens, owner of the lavender farm in the state’s northeast, secure an inaugural Australia-China business award for entrepreneurship.

Tasmania has long had the nation’s weakest economy, but is hoping to boost its fortunes by using its natural resources to attract an affluent Asian market looking for quality products.

When Ravens bought the Bridestowe Lavender Estate in 2007, his first goal was to return it to the peak farming condition it was in several decades ago.

He was also keen to boost the tourism potential of the farm. “We looked to create new products which would attract young visitors, and that came through food,” Ravens said.

An early product, lavender ice cream, started to attract Chinese tourists to the 105-hectare farm, an hour’s drive from Tasmania’s second-largest city Launceston.

But it was through the bear that Ravens, a former chief executive of a leading chemicals firm, struck a winning formula.

“We were experimenting with various shapes and colours. One day, five years ago or more, we showed a bear to a young Chinese girl in a shop,” he said.

“She said ‘so cute’ and she was carrying it like a baby, and you could see the bond form. As soon as we saw that, the light went on and we knew that was the right configuration.”

Even the name was designed to attract Chinese consumers, Ravens said, adding: “You can say Bobbie phonetically in Cantonese and Mandarin.”

Ravens courted the celebrity market and when a Chinese model posted a picture of herself with the bear online last year, demand for the furry creature – which doubles as a heat pack – reached stratospheric levels.

The farm had to limit sales to one per customer, temporarily halt online shopping and even contend with fake toys piggy-backing on Bobbie’s fame.

Visitor numbers have soared from 23,000 in 2007 to more than 65,000 last year, and it now produces 40,000 bears annually.

“In Australia, you become successful and you have 26 million potential customers. In China, you have a billion. The scale is so phenomenal,” said Ravens. “The answer is to be authentic and to target the market as acutely as you can. We are aiming always to be a boutique market, not a mass market.”

via How Chinese leader Xi Jinping turned Tasmanian toy into a bear essential | South China Morning Post.

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