The operators of the international airports in Shanghai and Hong Kong formed a joint venture to manage Shanghai Hongqiao international airport which mostly handles China domestic flight.

In this joint venture, Shanghai will pay 51 million Yuan for holding 51% of share and Hong Kong will take the rest of the shares which is 49%, the joint venture was named “Shanghai Hong Kong Airport Management Co. This stake structure would remain unchanged for 20 years from Read more…

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airport, China, economy, Hong Kong, Hongqiao, joint venture, Shanghai

Under the adversary of financial crisis, however, we also receive some good news from time to time. According to the recent report from the United Nations, China has successfully surpassed its main opponents the U.S and become the world most attractive destination for the research and development (R&D) investment. Meanwhile, the report also reveals that there are more 60% of the multinational companies setting up R&D centers in China, which has a long lead on this realm. What is more, the contribution of R&D investment as a percentage of China’s GNP has turned to 1.5 % instead of the 0.6 % in 1996. What the achievement enlightens to us is not only the great leap in economy, but also the innovation about the notion of people in China. We respect the science and technology than any time in history and we try to provide the suitable environment for the development of the research and development investment. Some experts even assert that if the companies have not set up R&D research center in China, they would do so soon. Read more…

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China Economy, Financial crisis, joint ventures, R & D

As Macao’s economy is witnessing a rapid development, many Australians saw “significant opportunities” in the Special Administrative Region (SAR), said Les Luck, Australian Consul-General Hong Kong and Macao, when delivering a speech at an Australian reception in the island city on May 22nd.

The Consul-General said he was impressed by the level of Australians’ engagement in Macao’s economy, working in fields ranging from the hospitality, gaming, construction, infrastructure, transportation and food and beverage sectors.

James Packer, Australia’s richest man, has set up a joint venture, Melco PBL Entertainment, with Lawrence Ho, son of Macao gaming magnate Stanley Ho, and has built the Crown Macao, a six-star casino resort. And a larger integrated casino resort project initiated by Melco PBL is under construction in the city at present.

In addition, statistics released by the Consulate-General show that between 2006 and 2007, Australia’s merchandise trade with the SAR was worth 632.2 million patacas ($79 million), and Australian’s direct exports to the SAR amounted to 565.1 million patacas ($70.6 million) while imports from Macao’s to 67.1 million patacas ($8.4 million).

“We estimate more than 2,000 Australians live in Macao and expect that number will continue to increase,” said Luck.

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Australia, China, Macao, trade

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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bilateral economic ties, China, FDI, investment, Mexico

Chalco, China’s largest aluminum producer whose shares are traded both in Shanghai and Hong Kong, agreed last Friday to set up a joint venture with Malaysia’s MMC and the Saudi Binladin Group to build and operate an aluminum smelter plant in Saudia Arabia.

The plant is to be built in three stages and the total investment is estimated to reach $4.5 billion. In the joint venture, the aluminum producer Chalco will own a 40% stake to become the largest single shareholder. Syed Mokhtar Al-Bukhary-backed MMC will hold a 20% share while a consortium of local investors led by the Saudi Binladin Group will hold the remaining stake.

The smelter plant is to be located in the Middle East country’s Jizan Economic City (JEC), where electricity costs an average of $20 per megawatt-hour compared with $28 in the US and $40 in China for the same measure. The annual aluminum production capacity of the plant is expected to reach one million tons.

In addition, an associated 1,860mW power plant with an estimated $2 billion will also be built, in which Chalco will take a 20% stake to become the third largest shareholder.

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aluminum, Chalco, China, industry, investment, joint venture, Malaysia, MMC, Saudia Arabia

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 Merchants Bank, CIGNA &CMC company, insurance industry, joint venture

A joint venture company will be launched on Sunday in Shanghai to develop and build the country’s first large airplanes.

The new company has a registered capital of 19 billion yuan, with its largest shareholder being the State-owned Assets Supervision and Administration Commission of the State Council. Other shareholders with different stakes are the Shanghai State-owned Assets Supervision and Administration Commission, AVICⅠ, AVICⅡ, Baosteel, Aluminum Corp of China and Sinochem Corp.

By this move, China Commercial Aircraft Co Ltd aims to manufacture passenger jets with at least 150 seats, strengthening its competitive edge over Boeing and Airbus in the fast-growing aviation market. And its first aircraft are scheduled for takeoff by 2020.

Above all, the company will be to develop an operating structure and a research and development center which is to be based at the Shanghai branch of the First Aircraft Institute under the China Aviation Industry CorporationⅠ.

The institute currently employs 700 staff, who previously designed the 50 to 60-seat MA60 turboprop aircraft and the 70 to 90-seat ARJ21 regional jet. And such experience obtained in the development of these smaller aircraft will lay a solid foundation for the development of larger planes.

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airplane, China, joint venture, Shanghai

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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Baidu, Google, Kingsoft, online ad sales, PowerWord, web and photo search, web-based dictionary

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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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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BPOVIA, China, insurance, JV fund management, Ping An, UOB