Blog about Virtual Assistant, Outsourcing, KPO, BPO and China

China Minsheng Banking Corp, the nation’s seventh largest bank by market value, got approval from the China Banking Regulatory Commission to set up a fund management company with Royal Bank of Canada and Three Gorges Financial Co.

Minsheng said it would take 60% of the venture, while Royal Bank of Canada, the country’s biggest lender, would control 30%. Three Gorges would hold the rest 10%.

Banks’ advantages over asset management firms lie in their reliable credit, wide networks and customer resources. And selling and being trustee of funds can create considerable income for banks while diversified wealth management products will help strengthen customer loyalty.

The fund company is Minsheng’s latest move toward becoming a financial holding firm. The bank also plans to pay 2.34 billion yuan for a stake in Shaanxi International Trust & Investment Corp and buy up to 20% of UCBH Holdings Inc, which is the biggest bank serving the Chinese community in the US.

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China Business, China Business News, China Economy, China Finance and Banking, Joint Venture China asset management, China, fund venture, Minsheng Bank, Royal Bank of Canada

Ping An Securities, the securities arm of Ping An (Group) Co, plans a joint venture fund management company with Singapore-based UOB Asset Management.

As a unit of Singapore’s United Overseas Bank, UOB Asset Management is the largest asset management company in Singapore.

Ping An, China’s second largest insurer, has been planning to enter the fund management business after it expanded its business to securities, banking and trust. Last year, it acquired a 9% stake in Hong Kong-based asset management firm Value Partners, becoming its strategic investor.

“This move by Ping An proves its commitment to be a financial holding company,” said Luo Yi, an analyst with China Merchants Securities. “Ping An’s existing marketing channels will be the new company’s strong back-up. Meanwhile, the fund management company could also sell Ping An’s insurance policies.”

In addition to Ping An, the country’s largest life insurer China Life is also actively preparing a fund management company.

The increasing presence of joint ventures in China demonstrates the business potential of the Chinese market. For all businessmen looking for opportunities in China, BPOVIA Ltd is always ready to provide its professional services and excellent virtual assistants.

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BPO, China Business, China Business News, China Outsourcing, China Virtual Assistant, Joint Venture China BPOVIA, China, insurance, JV fund management, Ping An, UOB

Microsoft China plans to set up an IT training center in Wuxi, one of China’s top 15 most economically developed cities, to prepare skilled professionals for the city’s emerging IT industry.

Microsoft China and the Wuxi government have signed a deal to establish the training program. According to the deal, the city’s hi-tech zone Wuxi New District will provide infrastructure for the training center and Microsoft technical platform and program. The center is expected to give professional IT training to 10,000 students each year.

Wuxi, with its solid industry foundation and overseas business network, plans to have 100 companies providing international outsourcing services and exporting software by 2010. Each will employ at least 2,000 staff and will have an export volume of $30 million. And the city has been active in seeking cooperation with foreign outsourcing companies.

“We are delighted to have Microsoft as a partner to help us in our endeavor,” said Yang Weize, Party chief in Wuxi. “We believe Microsoft’s experience will help us develop a large pool of IT professionals in Wuxi,” he said. And Zhang Yaqin, head of Microsoft China said the company is willing to help Wuxi to achieve its outsourcing goal.

Currently, outsourcing is a big trend for business development. As a professional company providing virtual assistants for businesses, BPOVIA Ltd is always your source in China.

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BPO, China Business News, China Outsourcing, China Virtual Assistant, Internet and Hi-Tech China, IT training, Microsoft, Outsourcing, Wuxi

Despite earlier reports suggesting that an increasing number of foreign-funded enterprises in the Pearl River Delta region and other parts of South China are moving elsewhere, a survey, conducted by the American Chamber of Commerce in South China (AmCham South China) in partnership with Hewitt Association Consulting (Shanghai) Co Ltd, shows that most foreign-funded enterprises in South China plan to increase investment substantially.

The 419 firms polled are companies in which members of AmCham South China have invested and joint ventures and representative offices in South China.

The survey demonstrates that the foreign-funded enterprises plan to increase investment by at least $16 billion over the next three years, part of which will come from profits of on-the-ground operations. And 90% of the firms polled said they have been making profits or would become profitable within two years.

“The results indicate a high level of satisfaction with and optimism in the business environment in South China,” said Harley Seyedin, president of AmCham South China.

As a growing number of overseas investors are interested in exploring the vast Chinese market, BPOVIA Ltd based in China, a professional services provider for outsourcing companies, welcomes all clients across the globe.

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BPO, China Business News, China Outsourcing, China Virtual Assistant, Investment China AmCham South China, BPOVIA, China, foreign-funded enterprises, investment, Outsourcing

Linda Sanford, the senior vice president of International Business Machines Corp said they has chosen Shanghai as the headquarters for growth markets, which conclude Asia Pacific(excluding Japan), Latin American and REMA (Russia, Eastern Europe, Middle Europe and Africa) and will add more “responsibilities” into China.

IBM has set up its Asia-Pacific headquarters in Shanghai since 2004. In addition, it has set up payment, outsource service-delivery, procurement and software development centers in the city. Due to the different market conditions and requirements between growth and mature markets, IBM needs to manage through different ways in different markets.

IBM is transforming to provide high-value knowledge-based services and on the way to become globally integrated.

You can look for any information about IBM’s new development and service on BPOVIA’s blog.

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China Business News, Internet and Hi-Tech IBM, IT service, new headquarter, Shanghai

Intel Corp, the world’s largest computer chip maker, signed a deal with SMG, one of China’s most influential media and entertainment groups, to develop Internet TV.

Intel will invest $12 million in Shanghai Media Group (SMG) and provide technical support under a 2005 agreement. Its multicore platform will be used to consolidate new Internet technologies, integrate innovative user experiences and visual interfaces and develop the next-generation video platform using virtualization technology.

“Global demand for Internet TV, or broadband online TV, is increasing rapidly due to the proliferation of Internet technology,” said Arvind Sodhani, president of Intel Capital, the company’s venture investment arm. “Intel is delighted to cooperate with SMG to develop the broadband online TV platform in China. Collaboration with Intel will stimulate the innovation and development of Chinese new media,” he said.

The new media market which includes interactive TV, mobile phone TV and IPTV, is expected to take off in China. The number of subscribers is expected to soar to nearly 35 million by 2012, according to CCID Consulting.

“The proliferation of the Internet makes it easier for us to do business with overseas clients. We are in a position to get an easy access to foreign businessmen looking for domestic outsourcing companies. As a professional virtual assistant provider, we always welcome contacts and tasks from old and new clients alike,” said James Huang, CEO and founder of BPOVIA Ltd based in China.

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BPO, China Business News, China Outsourcing, China Virtual Assistant, Internet and Hi-Tech BPO, China, Intel Corp, Internet TV, IT, new media, SMG, Virtual Assistant

During the Third Central China Investment & Trade Exposition, or 2008 Central China Expo that was held in the capital city of Hubei province, the six provinces of Hubei, Hunan, Henan, Shanxi Jiangxi and Anhui attracted total foreign direct investment of $ 16.17 billion. Hubei also signed 26 contracts for projects worth 3.42 billion Yuan.

At the three-day annual fair, additional 11 cities were added in Central China, such as Xiangfan and Yichang in Hubei, to receive processing trade industries being shifted from the booming eastern region. Tian Changzhong, Hubei Vice-Governor said the expo would be a boost for the rise of Central China with the joint effort of the six provinces.

BPOVIA is also ready for you to invest in Central China, offering all kinds of business information you may need.

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China Business News, China Trade Import Export, Investment China 2008 Central China Expo, Foreign direct investment, Hubei province, investment

Foreign investment in China continued to surge in the first quarter of this year. Realized foreign investment reached $2.74 million during the first quarter of the year, up 61.26% on an annual basis and in March alone foreign investment was $9.28 billion, up 39.6% year-on-year.

The number of newly set up enterprises declined. From January to March, government-approved foreign-invested enterprises numbered 6,949, down 25.26%, which means that large enterprises are increasing investment in some large projects. Commerce Minister Chen Deming said that the number of projects with an investment of over $30 million for the first two months increased 2.5 times the number of the same period last year.

In spite of worries that corporate income tax law that came into effect this year might impede the FDI flow, “the latest figures show the investment strategy of large enterprises were not influenced by these policy changes,” said Wang Zhile, director of the research center for transnational corporations under the Ministry of Commerce.

Experts said that the sustained increase in FDI indicates that China is still attractive for foreign investors despite the tax increase for foreign enterprises. “It shows that China remains an attractive market for multinationals” because of its large market, vast manufacturing capacity and relatively low costs, said Wang.

China now encourages foreign investors to participate in reforming State enterprises through mergers and acquisitions and expects more high-tech enterprises and restrict projects in heavy energy-consuming sectors.

For foreign investors and businessmen interested in the Chinese market, BPOVIA Ltd based in China is ready to provide its professional services to facilitate your business processes in the country.

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BPO, China Business News, China Economy, China Outsourcing, China Virtual Assistant, Investment China BPOVIA, China, enterprises, FDI, investment, Outsourcing

Taiwan computer giant ASUSTeK Computer Inc. (ASUS) has recently laid the foundation in Jiangxi Province, worth 3 billion Yuan (428.6 million US dollars).

ASUS, a technology-oriented company is well known for high-quality and innovative technology. It has a global staff of up to 100,000 and the revenue reached 6.9 billion US dollars last year.

According to company sources, the factory in Ji’an City will produce copper wire yarn and computer accessories in the first stage, and in the future produce main boards and assemble notebook computers.

With the rapid development and huge potential market, Taiwan has eyed more investment on the mainland. Meanwhile, Taiwan has attracted many mainland investors for its geographic location and complete industry chain. The business communication is and will grow at a fast pace.

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China Business, China Business News, Internet and Hi-Tech ASUS, computer and technology, mainland, Taiwan investment

Since last year, China has carried out special campaigns against environmental-polluting companies. All the violators will find it difficult to get loans besides export opportunities. Furthermore, the worst violators would face shutdowns of more than three years, according to government statements.

On this year’s Canto Fair, or the China Import and Export Fair, companies that were placed on a blacklist by environmental regulators were banned to exhibit, which meant huge losses for these companies.

During the spring session of Canton Fair which concluded on Wednesday, a great number of companies have introduced their “green” products, ranging from appliance, furniture to decorations and toys. What’s more, products using recycled materials were especially popular.

Chen Deming, Minister of Commerce, said China would maintain strict controls on polluting and energy-wasting companies, despite a tougher export situation.

As a respond to the appeal of environmental protection, virtual assistant business is developing quickly and “cleanly”. It has become a new doing-business type around the world—saving time, space, paper and money.

Our company, BPOVIA, will also help make a greener earth, while helping your business succeed.

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BPO, China Trade Import Export, China Virtual Assistant BPO, Canton Fair, environmental control, environmental protection, export, Virtual Assistant