There are 24 billionaires in this year’s list compared to last year record 66. The losses would be even larger if it had not been yuan’s appreciation. Dominating the list for years, real estate developers are big losers as housing prices sag.

Yang Huiyan, the wealthiest person last year, who inherited a vast fortune from her father, suffered greatest this year. She is now ranked third as her net worth plunged 86 percent to $2.21 billion.

Zhang Xin, CEO of SOHO China, whose net worth has shrunk about two-thirds to $1.2 billion, is ranked 19th down from 7th last year.

Zhang Songqiao, who focuses on property development in western China, is the chairman of C C Land. He saw 98 percent of his fortune evaporate and disappeared from the list this year.

Are you interested in the business opportunities in China?

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According to Jiang Jiemin, the company’s chairman at a shareholders meeting yesterday, the feasibility of acquiring some overseas resources companies badly influenced by the global crisis is still being discussed.

“Now the low share prices of some global resources companies provide us good opportunities,” said Jiang,” But every step we should go cautiously.” The impact the world financial turmoil bought to PetroChina was limited and under control, he said.

There are no financial problems in the company currently, but they will readjust their investment plan by giving priority to some key projects, he added.

Analysts hold the opinion that the current drop in oil prices and the constant banking crisis offer good opportunities for Chinese energy companies to commence deals they may not have chances to do before.

Han Xiaopig, senior vice-president of Beijing Falcon Pioneer Technology Co Ltd said now this is a good timing as the Western thirst for cash urgently because of the financial crisis.

China’s oil companies have increased their overseas expansion to meet the rising domestic needs. China National Petroleum Corporation, the parent company of PetroChina, said on Monday it had signed an agreement with Uzbekistan’s state oil company to jointly develop an oilfield in the Central Asian country.

China Offshore Oil Services Ltd, the nation’s largest offshore oil services provider, last month successfully expanded its operations in Europe and Asia and gave it access to international management expertise and technology.

As the rising needs of energy in China, the country’s imports of oil increase rapidly. Statistics showed that China’s oil consumption experienced around 6 percent annual growth in recent years.

Although global crisis has bought some good opportunities for China, some analysts said they should be very cautious in making decisions.

“In my opinion, the recent sharp decrease in oil prices is not a real refection of the market,” said Liu Gu, an analyst at Guotai Jun’an Securities in Shenzhen. Some analysts also suggested that Chinese oil and gas firms looking to make overseas acquisitions should set their sights on smaller targets.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

The Chinese capital is a promising city crowed with talents and industries with the potential for significant development.

Crucial sectors such as financial services, real estate, IT, automobile, retail and hospitality are booming.

In 2007, Beijing’s financial industry with a revenue of 128.6 billion yuan, it accounted for 20.5 percent of local economic growth.

At New York’s Beijing Financial Industry Cooperation Summit on Oct 14, a group of financial service officials from Beijing and experts from New York discussed Beijing’s position and potential of emerging as a global financial center.

Delegates from Bank of Beijing, Huaxia Bank, and Beijing Rural Commercial Bank- three leading banks of Beijing- talked about their plans to forge an improved global network with China’s overseas companies.

Zhou Weimin, deputy division chief of Beijing investment promotion bureau, said:” Our goal is to serve the foreign investors in China a better and more stable environment through more effective communication between the government agencies and foreign financial institutions.”

Seeing the collapse and bailout of a number of US financial institutions, Henry Tang, a founding partner of the Carnegie Towers Group, a global strategic investment advisory organization, when asked what measures Beijing should take under such situation, said:” Don’t go to excess.”

The pressure of saving earnings, according the idea of Tang, was one of the problems leading to the financial crisis in the US. In fact, high-earning mortgage-based derivatives are said to be a catalyst of the recent financial turmoil on Wall Street.

Tang, a financial expert with over 35 years of experience, believed it was the time to rethink derivatives.” It (the current financial collapse) is a nightmare for financial industry,” he said.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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The first one is number of graduates. The official figures shows job hunter number will grow to 6 million with 7 percent increase of this year.

The second one is experience. Carol Cai, a employee of British market research company TNS said,” First, the new recruits are halved, besides, most positions requires experience”. “Fresh graduate posses disadvantage when hunting job with unemployed experienced ones.” Tang Xiaolin, director of the career development center of Fudan University had similar opinion.

The third one is competitors from studies overseas. “Those studying abroad will most likely return home for jobs because of the tight job market,” Tang from Fudan University said.

How graduates face gloomy job market? Here is some graduates’ voice.

“There are still campus presentation, but it’s more like self-promotion instead of real recruitment, they just cut their job plans,” said Lin Huihui, a graduate who majored in international commerce at Fudan University.

“Job hunting is tough than I’ve ever think. I’ve applied for about 20 positions as a researcher or analyst for multinational companies, nonprofit organizations, private enterprises and associations — whatever options I can think of, but it’s hard to get even an interview. It does not matter whether my major fits my future job. The most important is whether I can find a job”. Xiao Jiang, finance major from Zhejiang University said when accepting the interview.

To get rid of job hunting and be more competitive, some graduates decide to choose further study for higher degrees which may improve their chances of entering the workplace.

”There is no doubt the financial crisis has already and will raise the unemployment rate. It will remain high for a considerable period of time after the financial crisis subsides and economic growth resumes,” education analyst Lin Yuxuan suggested, “Further study could only add to fiercer competition in the next few years, when more students graduate. What’s important for graduates now is lower their expectations and add experience which can help them be more competitive.”

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.