Chinese officials pressed for foreign countries to create a convenient and fair environment to make it easier for Chinese investors to continue to invest.

Comparing with the traditional big spenders, including the United States and European countries, who slowed their outbound investment, investment from China in overseas markets has increasing remarkably recently.

Zhang Xiaoqiang, vice-director of the National Development and Reform Commission, said despite the world’s financial crisis, China was still raising its overseas efforts. Many of China’s companies were active investors.

China’s overseas direct investment rose 190 percent in the third quarter during the same period last year. According to the statistics from the Ministry of Commerce, the investment reached to $32.87 billion for the first nine months.

Zhang added that growth has been a blessing for many countries recently.

Jon Huntsman, the US ambassador to China had the same opinion. He said that China’s investment was significant in improving and stimulating the world economy.

The US has benefited from the investments of other nations, Huntsman added. Throughout the 2003-to-2008 period, countries invested over $325 billion in some 4,300 projects in the US.

China was one of the nations whose investment in the US is fastest-growing, said Huntsman, with an annual growth rate in investment amount of 30% in 2004-2008 periods.

Taffere Tesfachew, chief of the Office of the Secretary-General under the United Nations Conference on Trade and Development (UNCTAD) said that China is one of the leading nations in stimulating the revival of developing economies by way of investment.

The figures from UNCTAD shows that in the year 2008, investment flowing out of the US declined by 18 percent to $312 billion, meanwhile flowing from EU nations fall by 30 percent to $837 billion. However, emerging economies, especially China, increased overseas investment, Tesfachew said.

He also said that nations and regional areas would benefit a lot from it, Africa and Asia in particular.

Some small islands in Caribbean like Grenada have great sunshine to grow plants and many other advantageous sectors to tap, F. Marcelle Gairy, Grenada’s ambassador to China, said. China has good technology to achieve their dreams.

She added it was win-win investment.

Mifzal Ahmed, advisor on investments for the Maldives’ Ministry of Economic Development, said China’s technology was cheaper, innovative and very practical.

Although the UNCTAD predicts that the investment outflows from Asia will slow down its speed this year, the organization still believes this region will still excel the rest of the world.

Tesfachew said outflows from China and India were the most prominent.

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Asim Jihad, Iraq’s Oil Ministry spokesman said that the signed contract should wait for the approval of the cabinet. Then, the ministry would fix the signing day.

According to Asim’s speech, the deal requires an investment of more that $15 billion. The State-run South Oil Company will represent the ministry to sign the agreement together with CNPC and BP.

A BP spokesman confirmed the statement that the contract was waiting approval from the Iraqi government after the initial treaty had been made.

He regarded it as a significant milestone. On behalf of BP, he said that he would like to sign the final agreement before the end of the year. CNPC had not prepared well to make comment.

Until BP and CNPC had cut their proposed remuneration fee to $2 per barrel, they finally won the Rumaila deal. In its June auction, Irap offered eight contracts in total.

Rumaila is the largest producing oilfield in Irap, with almost half of the country’s total output of 2.4 million barrels per day (BPD), 1.1 million BPD currently. It is estimated that the field’s reserves can be as much as 17 billion barrels.

Over the 20-year contract, BP and CNPC set their goal to facilitate their output to 2.85 million barrels a day.

In regard to the service contract, BP holds a 38 percent stake in the Rumaila venture, with CNPC 37 percent and Iraq’s State Oil Marketing Organization 25 percent.

The contract of Rumaila aims at injecting foreign cash to overhaul dilapidated facilities and outdated practices.

The recent report by the Chinese Academy of Social Sciences shows that the overseas expansion accords with China’s increasing oil imports. As over 60 percent of China’s oil consumption will be met by imports in 2020, said by analysts.

Lin Boqiang, director of China Energy Economic Research Center at Xiamen University said that as they need international giant partners to reduce the risks, the cooperative module benefits oil companies a lot.” Domestic oil companies speed up their pace to expand overseas market. Anyhow, in the aspect of international operations, they have really poor experience.

Lin also said that in the latter stages of oilfield exploitation, there would be more business opportunities. So the most significant part of the deal was to enter the international market and achieve as much experience as possible.

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According to China Securities Regulatory Commission’s recent numerical statement, by the end of last July, as much as 154 Chinese enterprises had started initial public offering abroad.

In June 1993, Tsingtao Brewery Corp, China’s first corporation listed out of mainland, was listed H-shares on the Hong Kong stock exchange. Then the boom started.

At the same time, China’s qualified foreign institutional investors were launched, which enable China to open up its capital market to foreign investors.

According to CSRC, by the end of July, nine Sino-foreign securities ventures, 33 joint venture fund management companies, 113 foreign securities institutions and 38 foreign assets management companies were approved by China.

It has also been put on agenda to list high-quality overseas corporations in China. This measure aims at stabilizing foreign direct investments, said by Chen Jian, Vice Minister of Commerce.

We are also informed from CSRC’s recent report that in 2008, China’s listed firms on the Shanghai and Shenzhen exchanges had owned 11.3 trillion revenues totally. Occupying 37.67 percent of the country’s total GDP the same year. This is revealed by China’s securities authorities.

In 2008, profits of these companies remain 1.07 trillion reposefully, occupying 36.31 percent of the profits of all Chinese enterprises, each of which possesses annual sales of more than 5 million Yuan.

According to the CSRC, by the end of 2008, 1625 firms had been listed on the Shanghai and Shenzhen stock exchanges, contributing to the total assets 48.7 trillion Yuan.

By September, as much as 1678 firms had been listed on the two stock exchanges. With the subscription from 10 firms on Sept 25, China had launched the Growth Enterprise Market (GEM) and a Nasdaq style market.

Currently, lots of domestic enterprises are aiming at getting listed on overseas or domestic exchanges, or both. Agricultural Bank of China (ABC) is the only Big Four bank on the mainland that is to be listed. Maybe in the early May or June of 2010, ABC can transfer its shares on the Shanghai exchange.

It is still a riddle whether the bank will also be listed in Hong Kong as a dual listing.

This is where the difference between ABC and China’s other three major banks lies. The other three are – the Industrial and Commercial Bank of China, Bank of China, and China Construction Bank. Several years ago, the three banks had invited foreign banks as strategic investors before listing.

China Life Insurance, acting as China’s largest insurer, had expressed its attention to buy ABC’s share long before. It is hard surprising that it became the competitive strategic investor for banks.

China International Travel Service Corp had set a price range for the offer. This meets the expectations according to most analysts. So now, it is trying to raise 2.6 billion Yuan in Shanghai initial share sale.

According to a filing with the Shanghai Stock Exchange at the end of last month, the company had bought 220 million A shares, or at the price between 10.8 Yuan and 11.78 Yuan, 25 percent of its enlarged capital after the issuance is OK.

Thanks to this range, the Beijing-based company, China’s biggest tourist agency, can raise 2.4 billion Yuan to 2.6 billion Yuan.

In an earlier time, the company had revealed its intention to raise 1.7 billion Yuan for a travel network, duty-free shops and other projects.

Wei Chanjuan, Guolian Securities analyst had approved the company’s measure. Due to the National Day holiday, the tourism-related stocks are easy to run up. So it’s right to put in IPO.

She also confirmed that it was OK to get listed recently.

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Unlike all the previous visits, this visit during the global economy crisis which has posed a serious threat on this world’s largest logistics company, with a 13% drop in revenue and 42% drop in underlying EBIT (earnings before interest and taxes) in the first quarter of the year.

However, Appel said the company will not give up investing in China.

And he is serious. Despite the opening of an eastern China domestic transportation hub at the Kangqiao industrial park in Shanghai, ten more similar hubs are scheduled to open within this year.

This facility, which takes up 25,000-sq-m, includes 53 loading and cross docks and provides cross dock operations, storage, multi-modal transfer and data management to customers all day long. It is hoped to strengthen DHL’s supply chain management business in China as well as its expertise in the domestic road transportation and distribution market in the country.

Supply chain management, also known as contract logistics, has become an emerging business in German company’s core businesses. Contrary to the decline in freight forwarding and express delivery businesses, DHL’s contract logistics sector still remains strong and even sees a little increase in business, Appel said.

Only by rationalizing and taking control costs in the supply chain will the company get rid of the economic crisis. The growing pressure on this part will lead to a trend of outsourcing soon, said Appel, who worked at McKinsey for 7 years in the 1990s.

DHL is paying more attention to multinational companies and major Chinese companies that are expanding abroad in order to enlarge its supply chain business, Appel said.

DHL also attached great importance to China’s domestic market.

“10 years from now, China’s domestic market will become so large that the reducing US and European demand will have little impact on it.” Appel said.

For example, according to a joint report by All China Marketing Research and IBIS World, the total revenue of China’s domestic road transportation industry grew nearly 10 billion dollars from 1998 to 2007, which is a 67 percent growth. And the revenue is expected to keep increasing up to $36 billion by 2013.

DHL conduct domestic business in corporation with Sinotrans, the country’s largest international freight forwarding company, in a 50-50 manner

Earlier media reports said DHL-Sinotrans will spend 300 million to purchase a Shanghai-based private logistic company-A Plus Express in the hope of expanding its domestic business. A Plus was founded in 2000, and mainly provides express delivery service in 300 outlets and 7 distribution centers around the country.

Appel is not willing to talk too much on the result of the negotiations, only saying that the negotiation is heading in the right direction.

“It is difficult to find a right target in Chinese market for it is separated, but once we find one, we will definitely take it seriously”

China passed a revised postal law recently. The new law prohibits foreign companies from delivering express letters in China, which means the express packages become only choice of domestic delivery for foreign companies like DHL.

Appel felt no threat of this law for the reason that it has restricted impact on DHL’s three core businesses which has been conducted in China: freight forwarding, express, contract logistic.

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It was the subsidiary company of Sinopec Group, Sinopec International Petroleum Exploration and Production Corp (SIPC), that settled the deal. On June 24th, Sinopec in Beijing claimed that they would pay C$52.80 ($45) per share to buy the corporation, in cash.

They declared that buying this company will help SIPC to reach its goal of thriving in the market of West Africa and Iraq, enhancing its business in the whole world and making its offshore oil and gas assets portfolio more flexible. Besides, Addax Petroleum has great exploration potential, which will contribute to SIPC’s promising future, especially its offshore deepwater exploration projects.

Though Addax is based in Geneva, its shares are sold in Toronto and London. At the end of 2008, this company had 536 million barrels of oil reserves, including the present and the estimated ones, with the mean production of about 140,000 barrels of oil everyday, which means the annual production is 7 millions tons.  

Most of Addax’s oil and gas assets are located in West Africa and the Middle East, and the most important ones are in Nigeria. From January to March, as the company said, it produced 134,730 barrels of oil per day. At least 75% of its production was from the assets in Nigeria.

Before the day Addax declared that it was taken over by Sinopec, the price of C$52.80 per share is at a 47 percent premium to Addax’s closing share price on June 5. Experts said that Sinopec’s purchase was “wise”, because the oil and gas assets had been reducing in value, due to the worldwide economic recession.

According to Lin Baoqiang, director of the China Center for Energy Economics Research of Xiamen University, it is good time for Chinese oil companies to make overseas investment for the current low price. The price of crude oil has declined more than 50 percent comparing with the $147 per barrel of last July.

Analysts said this deal indicates that the largest refiner in Asia, Sinopec is to further expand its upstream assets abroad. Han Xiaoping, energy analyst with Beijing Falcon Pioneer Technology Co. said that Sinopec’s deal also conforms to the government’s energy strategy to diversify China’s energy supplies.

As China’s imported oil accounts for nearly half of the total oil consumption, specialists have called for a diversified source of oil importing to search for more sustainable supplies.

In recent years, Sinopec, China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC), China’s three major oil companies, have all speeded up their overseas expansion.

It is reported that China’s largest oil producer, CNPC, is negotiating with Mongolia this month about exploration and production opportunities. According to Bloomberg News’s interview of Galsan Batsukh, Mongolia’s ambassador to China, the talks will cover investing on a refinery as well as transportation and storage facilities. He said a pipeline from Mongolia to the bordering Chinese province of Inner Mongolia is included in the long-term plans.

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Recently, foreign banks and other organization forecast that ODI (overseas direct investment) would exceed FDI. However, government officials suggested that it is unlikely to happen soon, especially this year. It is partly because Chinalco’s $19.5 billion didn’t succeed to save Rio Tinto last month, which is the world’s third largest mining enterprise.

Although Chinese National Petroleum Corp, working together with British energy giant BP, got the chance to develop Iraq’s biggest oilfield on Tuesday, it is still unlikely to raise dramatically ODI in 2009 because the past several months’ deals are made up of the large quantity of small volume.

A press conference in the morning of July 2 was hold by the Ministry of Commerce at the 13th China International Fair for Investment and Trade. ODI prospects are expected to be discussed at this fair.

“Although there are rising cases of ODI, the volume is still decreasing. This is because lots of cases are mall,” said Chen Rongkai, a division director at the Ministry of Commerce.

During January to March, ODI cases increase by 7% to 445, but the volume was down by a lot, said Caijing magazine. Ministry officials who did not reveal the figures told that to the magazine. We will soon see the first-half ODI.

The officials said the government would stage policies to stimulate ODI to seize the opportunities coming from the economic crisis.

In June, the government said it would cancel the curbs in foreign exchange from Aug 1 on companies that want to invest abroad with up to $30 billion expected to flow overseas.

In March, the commerce ministry said local governments had been increasing powers for supporting ODI.

“More measures will be carried out to encourage Chinese ODI,” Chen said.

Because of the financial crisis, many foreign companies want to sell assets and Chinese companies want to expand overseas. Many people forecast a increasing of ODI. They anticipated that it could even outpace the FDI, which has shrunk for 8 consecutive months. The trend would continue until early in 2010.

Standard Chartered Bank said in April that Chinese ODI could reach $150-180 billion this year, much larger than the FDI ($80-100).

Compared to last year, Chinese ODI almost doubled from 52.1 billion, while FDI was $92.4 billion.

Li Jianfeng, macro-economy analyst at Shanghai Securities, said: “ODI would not easily surpass FDI even though the FDI is not growing at present. ODI growth will be slow. ”

At the same time, protectionist and national security barriers will make it difficult for Chinese companies to plan large scale overseas investment, said industry insiders.

Li Jianfeng pointed out that ODI brings benefits to reduce the growing pressure of china due to the increasing foreign exchange reserves and to internationalize the yuan.

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Domestic fund management should hold at least more than 51 percent stake in domestic fund management companies based on the rules made by the china Securities Regulatory Commission. As the survey, which interviewed 29 such foreign joint fund management firms in china, showed that the fully owned domestic funs firms, viewed as their greatest competitive threat, has ranked the second place in regards to threat perception in this year instead of the 16th position in 2007.

Alex Wong, a partner with PwC, said that because the expanding domestic fund management firms are a more stable and long-term development way to fund managers, domestic ones these days are winning the competitive edge over Foreign joint venture fund management firms.

He pointed out that it is because of the better career prospects in views of staff recruitment that fund management chose to work for foreign joint venture fund management companies before 2007. But nowadays, such advantages are less obvious since domestic fund firms are providing a more comprehensive product line-up and are more likely to get a new product launched and approved in China.

Nevertheless, the survey revealed significant growth by 2012 would been achieved by most foreign joint venture fund management firms in China, or about 66 percent of them their under their anticipation. This shows no evidence at this moment that the global financial crisis has lead to scale back or withdraw funds from China.

As the survey revealed that a “flat-to-moderate” growth is expected by foreign joint venture fund management firms from this year to the next three years.

Generally speaking, they hope to achieve a 101percent in the overall projected assets under management by 2012, in the hope of elevating the number of Chinese retail investors growing from the current 33.8 million to almost 69 million.

According to the survey, Fund managers at these joint venture asset Management firms also believe that the existing product performance should been improved and new products and distribution channels developed over the next three years if they want to increase profitability.

They predicted that qualified domestic institutional investors (QDII) would present a significant opportunity in the long term despite of their poor performance.

Robert Grome, an the senior partner with PwC said that mainland investors should have faiths in the QDII product , which is, conceptually, sound and will be very successful in providing profitable international market exposure.

According to the industry-wide data for the fourth quarter last year, 45.5 percent of the overall market share in views of assets is hold by the foreign joint venture fund management firms, achieving an AUM of 882 billion yuan. They had 224 funds under the management at the tail of 2008.

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REQUEST FOR EXPRESSIONS OF INTEREST

CONSULTANT SERVICES

Wind Power Short Term Forecast Service In Selected Locations of Inner Mongolia

CHINA RENEWABLE ENERGY SCALE-UP PROGRAM

CONSULTING SERVICES

LN 4792-CHA, TF054833

Project ID No: P067625

Notice No: A1-B7-CS-REI -2009-009

The Government of China has received a grant from the Global Environment Facility (GEF) under the China Renewable Energy Scale-up Program (CRESP) and intends to apply part of the proceeds for provision of wind power forecast service.

The China Renewable Energy Scale-up Program (CRESP) was developed by the Government of China in cooperation with the World Bank and the GEF, in order to provide assistance with the implementation of a renewable energy policy development and investment program. The program objective is to enable commercial renewable electricity suppliers to provide energy to the electricity market efficiently, cost-effectively, and on a large scale. The core of the program is GEF-financed support for institution and capacity building for the scale-up of renewable energy based electricity generation capacity. CRESP is managed by the Project Management Office (PMO) established by the National Energy Administration (NEA).

The CRESP PMO intends to hire qualified consultants to carry out:

a) Meteorological Data Forecast, including but not limited to, wind speed, wind direction, air density, and air temperature

b) Power Generation: The forecasted meteorological data should than be transferred to wind data (i.e. expressed in MW) In selected locations of Inner Mongolia for one year.

The forecast results by the provider will be used to certify and justify the wind power forecast models developed by local service provider.

Qualified candidates should have the following qualifications:

● Have a high-level professional team with extensive knowledge and practical experiences in wind power forecasting;

● Familiarity with the current short-term wind power forecast methodology;

The service will be provided for 12 months, and it is anticipated that the service would start on March 1, 2010.

The CRESP PMO invites qualified consultants to indicate their interest in providing the services. Interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.). Consultants may associate to enhance their qualifications.

A consultant will be selected in accordance with the procedures set out in the World Bank’s Guidelines: Selection and Employment of Consultants by World Bank Borrowers (current edition).

Interested consultants may obtain further information at the address below during office hours, i.e. Monday to Friday, from 09:00 to 17:00 hours.

Expressions of interest must be delivered to the address below by July 31, 2009.

Project Management Office

Attn: Ms. Ni Xiaole; Mr. Luo Zhihong

GEF/WB China Renewable Energy Scale-up Program (CRESP)

National Development and Reform Commission, the People’s Republic of China

Email: nixiaole@cresp.org.cn; luozh@cresp.org.cn

Fax: +86 10 6390 8086-102; +86 10 6390 8086-103

For more information about CRESP, please visit www.cresp.org.cn

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As China’s largest hi-tech breeding nest, Z-park had enjoyed several policies to enhance its advancement, no matter for stock options or financial reform. Moreover, these supportive policies can be endeavored for a whole decade.

The State Council also announced a statement that the scientific and technological pilot programs could be carried out. That included the universities and colleges and research institutes which would be settled within the park. Those small- and medium-sized enterprises engaged in scientific and technological activities would also enjoy a loan support from the bank, which is encouraged by the government.

New industries participating in major national scientific and technological projects, especially in areas like electronics, biopharmaceuticals, aviation and space, new materials, clean energy, modern agriculture and pollution reduction would primarily be supported. If there were problems, limited concern should be given. Formulate supportive policies would be generated from the ministerial-level coordination team which was set up by the Ministry of Science and Technology. All those policies are encouraged to attract elite people with incredible innovation. Furthermore, the enterprises that can influence the whole world are welcome to establish within the park. More fantastic than that, by the end of 2020, Zhongguancun zone will turn out to be a world wide scientific and technological innovation center with the help of these policies.

Beijing Party Secretary Liu Qi said the government would do all its effort to make the park a leading center for independent innovation.

As the China’s Silicon Valley, Zhongguancn Science Park had become the scientific and technology zone in 1988. However, in the 1980s, it just was an electronics street back that time. In 1988, it had already owned 1.4 billion yuan. Astonishingly, by the end of 2008, its total income increased 700 times. Because the uniqueness of this region, around half of the foreign funds are attracted thanks to that. And almost half of the Chinese corporations are listed on the NASDAQ.

Tsinghua University President Gu Binglin is supportive to the new policies too. The creativity of teachers and professors as well as other scientific and research personnel would be motivated. And also the scientific and technological transfer would be stimulated. Lenovo Chairman Liu Chuanzhi said his company would take on some major national projects and also establish a top notch research institute.

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According to a report on private property released by China Merchants Bank and consultancy Bain & Company on March, 30, 2009, there will be 320,000 people who each possess at least 10 million yuan ($1.46 million) of assets by the end of 2009, up 6 percent from 2008.

Including cash, stocks, funds, securities and real estate investments, the total assets covered in the report are expected to surpass 9 trillion yuan ($1.29 trillion) in 2009, up 7 percent from 2008.

The survey investigated 700 interviewees by questionnaires or face-to-face interviews. All the respondents had property of at least 10 million yuan. The investigation started on the mainland in late December in 2008 and lasted three months.

According to the survey, Guangdong province ranked first in the population of rich people, closely followed by Shanghai, Beijing, Jiangsu and Zhejiang. Last year, Guangdong province alone has 46,000, or 15 percent of China’s wealthiest people.

Ma Hua, deputy director of CCTV.com’s R&D center, was not surprised by the results of the survey. Ma counted the rich ones among his friends and observed that they are hardly affected by the current economic downturn because most of them are conservative investors. Ma said his friends made their fortunes by cautious investments in stocks. “Since they make money all by themselves instead of inheriting property, they tend to be conservative in using it,” he said.

It’s generally assumed that the rich would prefer risky investment. However, according to this report, 80 percent of the interviewees prefer investment with medium or low risk.

Liu Zhishuo, who did not unveil his wealth, defines himself as a conservative investor. He is a very cautious investor in high technology. Liu said he’ll invest if a company’s value could increase progressively in one or two decades. “What I care is long-term value. I don’t make short-term investment,” he said. In Liu’s opinion, to seize opportunities needs years of experience instead of good luck. There’s less chance to get quick fortunes nowadays.

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