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

With the high growth rate of China’s economy, the country’s target of doubling its GDP per capita by 2010 relative to 2000 level is under way.

According to a WTO report (drafted independently by the WTO Secretariat) released on May 21, China’s annual growth rate was estimated at 11.4%, higher than the average rate achieved during 2003-2006. Moreover, China has the potential and confidence to maintain this rapid growth in the foreseeable future. So the goal of doubling GDP that was set out in China’s eleventh Five-Year Plan is within reach.

Faced with a number of important social and economic challenges, including various economic imbalances, China also has to increase government expenditure on social services, like health and education, as well as basic pensions, thus possibly reducing the need for precautionary saving and raising consumption.

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China Business, China Business News, China Economy China's economy, economic challenges, eleventh Five-Year Plan, GDP, WTO

On May 20, Mexico and China reached an agreement on reciprocal promotion and protection of investments to tighten bilateral economic ties.

The deal, according to Mexico’s Deputy Economy Secretary Carlos Arce Macias, will consolidate a juridical framework more favorable for investments, and will provide juridical guarantee for investments and contribute to the increase and diversification of investments to attract more countries to invest in Mexico.

Meanwhile, it is expected to improve conditions for foreign direct investments, help attract more foreign productive capital and provide better conditions for Mexican investors.

The agreement will be signed in July during President Felipe Calderon’s visit to China.

We, Bpovia Ltd, would like to help you succeed in this promising econimic cooperation.

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China Business, China Business News, China Economy, Investment China, Joint Venture China bilateral economic ties, China, FDI, investment, Mexico

China’s trade regime has continued liberalizing since 2006, the WTO Secretariat said in a report following its second review of the country’s trade policies in Geneva.

Since the first review of China’s trade practices that obtained a good evaluation in 2006, plenty of China’s trade and investment reforms have been carried out to facilitate the country’s economic development. In 2006, China’s total trade in goods alone accounted for about 65% of its GDP and 13% of global trade. Moreover, China is still a major foreign direct investment destination. These reforms also speeded up China’s integration into the global economy.

This year’s review predicted that China—now the world’s third-largest trader, would keep fast growth in international trade with the help of its continuous opening up and ongoing reforms, though there are various challenges ahead.

China always welcomes foreign trade and investment from all other countries, and we—Bpovia Ltd is always ready to bear a hand in your successful business career in China.

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BPO, China Business News, China Economy, China Trade Import Export, Investment China challenges, China's trade and economy, GDP, trade and investment reforms, trade liberalization, WTO

China Merchants Bank (CMB), the country’s largest credit issuer said it would take all 50 percent of the CIGNA &CMC shares that is worth 142 million yuan. CIGNA &CMC, founded in summer 2003, is a Sino-American joint venture offering life, casualty and health insurance. US-based CIGNA Company holds the other 50 percent of the shares.

As an agent for CIGNA &CMC’s insurance policies, CMB has earned 66.39 million yuan in service fees from the company during the first 11 months of last year.

This new step, aiming to improve the bank’s revenue structure and sharpen its competitive edge, must first be approved by the China Banking Regulatory Commission and the China Insurance Regulatory Commission.

BPOVIA Ltd based in China is always ready to offer you the business or financial information you need at any moment.

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China Business, China Business News, China Economy, China Finance and Banking, Joint Venture China China Merchants Bank, CIGNA &CMC company, insurance industry, joint venture

Yahoo Inc. and McAfee Inc. are cooperating to provide a new security feature that allows people using Yahoo for online search to see a red exclamation mark and a warning next to links that McAfee has identified as serving dangerous downloads or using visitors’ e-mail address to send out spam. In other words, if McAfee has identified a site that attempt “drive-by download”, Yahoo user won’t see the link at all.

According to Priyank Garg, director of product management for Yahoo’s search division, the lurking threats on the Internet is one of the most important concerns for Yahoo users. Yahoo and McAfee wish the new service will quell users’ anxiety about accidentally clicking on malicious links, thus helping people protect themselves and moreover surf free and safe online.

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China Business, China Business News, Internet and Hi-Tech Mcafee, online alert, prevent hazardous websites, Yahoo

According to the Ministry of Finance, the first electronic savings bonds of the year, worth about 30 billion Yuan, will be issued on May 16.

In 1994, China issued another variety of savings bond—the bearer treasury bond that has become a popular investment tool for the public and important channel for the government to raise funds for major construction projects. By comparison, the e-savings bond is more convenient for investors, such as interest will be paid by direct deposit into the investor’s account. The bond will be sold at branches of Industrial and Commercial Bank of China and only to individual investors.

In addition, further e-savings products will be introduced.

BPOVIA Ltd will always be your business information source of China.

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China Business, China Business News, China Economy, China Finance and Banking, Investment China bearer treasury bond, e-savings bond, investor, MOF

The BPO industry is developing fast in the world, especially in India where the annual growth rate is estimated to be 50 percent. However, there are some problems that cannot be ignored in the sound progress of BPO industry, such as human resource management.

The main challenge for HR professionals, said James Huang, CEO of BPOVIA Ltd, is how to manage a large number of people at a very short time. A HR professional has to handle heavy pressures in the BPO sector as the requirement needs keep changing on an hourly basis. With the help of some parameters, such as the certificate launched by NASSCOM, it’s neither difficult to choose top-level managers nor freshers. HR policies should also be customized to brand building, for human resources are becoming human relations with more emphasis on emotional bonding.

Compared with India, China’s BPO industry is not fully developed, but is catching up in many aspects. BPOVIA Ltd is just one of the competitors, who are taking an active part in Chinese business development.

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BPO, China Business, China Outsourcing, China Virtual Assistant BPO industry, China's BPO, HR, India

Google and Chinese software company Kingsoft have announced a co-branding strategy on China’s online market— the launch of a web-based dictionary.

With this alliance, netizens can use Google’s translation service on Kingsoft’s popular English-Chinese dictionary software PowerWord that has estimated 30 million users. Moreover, Google’s web search and photo search services will be embeded in the new dictionary service, which will carry both Kingsoft and Google logos. According to Google, the two companies will share the online advertisements revenue.

It is a new approch of Google to compete with smaller local companies, such as Baidu.com on China’s online ad sales market and customer preference. This alliance will also help Google expand its user base in China and even make it a software client similar to Tencent’s QQ.

Since last year, Google has been making efforts to furthur fit into local market by partnering Chinese companies, like China Mobile, China Telecom. As a result, Google’s market share in China has grown by 0.9% in the first quarter of this year.

As a virtual assistant, BPOVIA Ltd is offering online service related to your business. If you have any needs, please contact us.

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China Business News, China Consumer Market, Internet and Hi-Tech, Investment China, Joint Venture China Baidu, Google, Kingsoft, online ad sales, PowerWord, web and photo search, web-based dictionary

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

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