Business Tianjin Magazine - Business English Magazine in China
Friday, 25 February 2011 11:05
China will build another 45 airports over the next five years, the industry regulator said on Thursday, raising fresh questions about the potential for overcapacity in the transport sector.
Li Jiaxing, the head of the Civil Aviation Administration of China, said that the new investments would take the total number of airports in the country to 220, even though most of the existing airports were losing money.
Although demand for air travel has grown rapidly in recent years as the purchasing power of Chinese consumers has risen, the expansion in airport infrastructure, which accelerated during the stimulus programme over the past two years, has become one of a number of potential sources of over-investment across the economy.
Mr Li, who used to run Air China, the country’s biggest airline before moving to the regulator, said that the government would invest Rmb1500bn ($228bn) in the aviation sector in the period to 2015, although he did not say how much of that would go to airports.
According to Reuters, Mr Li, who is also a vice minister for transport, admitted on Thursday that 130 of the country’s 175 existing airports were currently lossmaking, with the combined loss amounting to Rmb1.68bn.
While large new airports in some of China’s major cities have quickly found themselves operating near to capacity because of rising traffic, industry officials say that there are a string of new airports in smaller cities which operate only a handful of flights a week. Goldman Sachs forecasts that passenger demand will rise by 15 per cent this year, as the growing middle class in China travels more.
The rapid expansion in China’s high-speed rail network has also raised questions about over-investment, a concern that could have been connected to the news 10 days ago that the minister of railways Liu Zhijun is being investigated for “a severe violation of discipline”.
While some think high ticket prices will limit the demand for high-speed rail, supporters of the investment argue that the new expanded passenger network will free up space on the existing network for transporting cargo such as coal, much of which is currently delivered by truck. However, the new high-speed rail routes, such as the Wuhan-Guangzhou line, which cut the journey time from 10 hours to three hours, are also a strong competitor for the aviation sector.
One potential boon for China’s new airports could come from smaller aircraft, after the government announced in November that civilian aircraft could fly in airspace below 4000m. The decision could prompt a big increase in the use of helicopters and light aircraft. Sinolink Securities, a Chinese brokerage, estimates that purchases of helicopters over the next decade in China will reach 3,300.
China Real Estate
Friday, 17 September 2010 14:38
SouFun Holdings Ltd., the operator of China’s biggest real-estate website, raised $125 million selling shares at the top of its forecast price range in this month’s first U.S. initial public offering.
The company that controls almost half of China’s online real-estate advertising market sold 2.93 million American depositary receipts at $42.50 each yesterday, a Securities and Exchange Commission filing and a statement showed. At the midpoint price, SouFun was valued at 14.3 times earnings, 14 percent less than the average of six Internet portals and property information providers, data compiled by Independent International Investment Research Plc and Bloomberg show.
The offering came after the number of Internet users in China, the world’s fastest growing major economy, surpassed the entire U.S. population. The IPO was the first of at least 10 scheduled in the U.S. this month after the Standard & Poor’s 500 Index rebounded 10 percent from its 2010 low in July.
"This does start to show that as long as deals are priced right, the IPO market is alive and well,” said Michael Yoshikami, who oversees about $1 billion at YCMNet Advisors in Walnut Creek, California. “Anything that has Internet, China and IPO in it will be strongly appealing to investors.”
Friday, 06 May 2011 13:57
China has found some U.S.-made passenger cars benefited from unfair subsidies, damaging its carmakers, although Beijing side-stepped a potential trade row with the United States by not hitting them with duties.
That decision could ease fractious U.S.-China relations, already strained by tensions over the appreciation of the yuan and criticisms from the United States that Beijing is favoring giant state-owned enterprises by keeping borrowing costs low.
However, U.S. officials reacted frostily to the news and said Beijing may have violated World Trade Organization rules with the method it used to determine certain U.S. cars received subsidies and were sold in China at unfairly low prices.
"We are very disappointed (with those determinations), even though it appears that such duties will not be imposed immediately," said Carol Guthrie, a spokeswoman for the U.S. Trade Representative's office.
"The United States is closely reviewing the final determinations in these investigations, in particular their compliance with WTO rules," Guthrie said.
China's Commerce Ministry launched the investigation in November 2009 in an attempt to defend Chinese carmakers against U.S. competitors. U.S. exports of new and used passenger cars to China tripled to $3.4 billion in 2010 over 2009's figures.
"After an investigation, the Commerce Ministry's final decision is that U.S. firms that make sedans and sports utility vehicles of 2.5 liters and bigger engaged in dumping and were given subsidies," the ministry said in a statement.
"China's domestic car industry ... has suffered substantial damage. There's a causal link between the dumping and subsidies and the material damage."
But the Customs Tariff Commission of the State Council has agreed "not to impose anti-dumping duties and countervailing duties for now on the products that are being investigated," the ministry said, adding further details would be released later.
China's announcement came just days before the once-a-year Strategic and Economic Dialogue, which covers various economic and diplomatic issues between the United States and China. Trade disputes are likely to feature prominently.
China is an increasingly important export market for the U.S., worth $91.9 billion in 2010, a rise of 32.1 percent on 2009 levels. Total two-way trade was worth $456.8 billion.
The duties were expected to hit cars made by companies including General Motors Co, Chrysler and the U.S. units of German firms BMW and Daimler's Mercedes-Benz, which are fighting for a slice of China's booming car market -- the world's biggest ahead of the United States.
The commerce ministry's investigation centered on whether these companies had benefited from incentives and tax breaks granted by the U.S. federal government and the state of Michigan at the expense of China's carmakers.
Written by Administrator
Tuesday, 07 April 2009 10:35
Logistic & Distribution Manager 物流及发行经理
- Coordinate, supervise and instruct on domestic and international shipping arrangements to ensure secure, timely and cost effective deliveries
- Be responsible for managing third party logistics vendors to maintain and improve their quality of service
- Ensure all logistics practices are in compliance with company's policy
- Distribute the products locally and where necessary
- Inspect and instruct distribution work and find new locations to distribute our products
- Plan and control customer services including inquires and customer records
WHO WE ARE LOOKING FOR:
Bachelor’s degree or above, major in Logistics or Supply Chain Management are preferred
- Over three years of relative working experience
- Transportation strategy development, planning and budgeting experience
- Experience with customs clearance, CIQ procedure, shipment, inbound/outbound and import/ export
- Effective conflict resolution, data analysis and performance measurement
- Good customer and marketing industry connections
- Fluent in English for internal and external communication
- Working knowledge of MS Office and ERP system (preferred: SAP)
- Good leadership, interpersonal and organizational skills
Thursday, 28 April 2011 14:23
Tianjin Port (600717) recorded a 40.26 percent year-on-year increase in first-quarter net profits to 221 million yuan, reports 163.com, citing a company filing. Sales revenues rose 11.07 percent to 2.8 billion yuan and earnings per share hit 0.13 yuan, up 44.44 percent.
According to China International Capital Corporation, China’s container throughput and cargo throughput respectively grew 13 percent and 14 percent in the first quarter.
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