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NEWSLETTER|7MARCH2016FCCC/EUCBAactivitiesSeminar:HowtoSucceedintheChineseMarket–16March15h30–GhentChinaMissionEast-Flanders–28May–4June–Beijing,Shanghai,Tianjin,ShijiazhuangAdvertisementandsponsorshipAdvertisementandsponsorshipopportunities2016ActivitiessupportedbyFCCCMO*talks:TheworldbecomesChinese–9March2016–BrusselsPasteventsSeminar:HowtoPrepareforTradeFairsinChina:SelectionAdvice,NegotiationTipsandIPProtection–2March2016–Eurochambres,BrusselsFCCCChineseNewYearReception–3February2016–BrusselsEUCBA:ExclusiveLuncheonwithHerExcellencyMrsYangYanyi,AmbassadorofthePeople'sRepublicofChinatotheEUandHeadoftheChineseMissiontotheEU–3February2016–BrusselsEU-ChinaConference:China'sNewNormal:What'sInItForBusinesses–28January2016–BrusselsAdvertisementHainanAirlines,yourdirectlinkfromBelgiumtoChinaNPC&CPPCCsessionsNPCandCPPCCannualsessionsstartinBeijingAutomotiveSomecarmakershavetheirpermitsrevokedFinancePBOCcutsreserverequirementratioby50basispointsChinadownplaysMoody'sdowngradeofgovernmentbondratingBettercoordinationamongregulatoryagenciesneededForeigninvestmentQualcommandThunderSoftwaresetupJVinChongqingChinatofurtherlowerentrybarriersforforeigninvestorsForeigntradeChinaremainsworld'slargesttradingnationHealthChemicalsinfoodtopconcernforFDAMacro-economyBeijinghasmost"unicorn"techstart-upsafterSiliconValleyMergers&acquisitionsChinaResourcesacquiresSABMiller'sstakeinCRSnowRealestatePricesofnewhomesincreaseagaininFebruaryAdvertisementHKWJTaxLaw:YourHongKong&MainlandChinaTaxFCCCNewsletterNo450,March7,2016Page1AdvisorRetailAdidastoopen3,000morestoresinChinaby2020JD.
comtoinvestinhigh-growthbusinessStockmarketsProfitsofChiNext-listedcompaniesincreaseTravelAirbushashighhopesfornewA330completioncenterOne-linenewsQuotesoftheweekLiKeqiang,XuShaoshiFCCC/EUCBAACTIVITIESSeminar:HowtoSucceedintheChineseMarket–16March,15h30–GhentTheFlanders-ChinaChamberofCommerceisorganizingaSeminarfocusedon:'HowtoSucceedintheChineseMarket'.
Thiseventwilltakeplaceat15h30onWednesday16March2016attheClubofFlanders,Sint-Pietersnieuwstraat11,9000Ghent.
Theaimoftheeventwillbetoshare,discussandexchangeknowledgeandexperiencesbetweencompaniesdoingbusinesswithorinvestinginChina.
Theprogrammewillbeasfollows:15h0015h3015h3517h00RegistrationIntroductionbyMrsGwennSonck,ExecutiveDirector,Flanders-ChinaChamberofCommerceCasestudiesofdoingbusinessandinvestinginChina,byMrRobertDeRegge,CEO-adinterimandChairmanoftheBoardofDirectors,Vitalo;andMrDirkLaeremans,GeneralManager,OrientasExchangeofviewsandnetworkingdrinkIfyouareinterestedinattending,pleaseregisteronlineatwww.
flanders-china.
bebefore10March2016.
ParticipationfeeforFCCCmembers:45(incl.
21%VAT),non-members:90,75(incl.
21%VAT).
ChinaMissionEast-Flanders–28May–4June–Beijing,Shanghai,Tianjin,ShijiazhuangChina,thelargesteconomyandthemostdynamicconsumermarketintheworld,isnolongeronlyaproductionorsourcingcountry.
ItisahugemarketforEuropeanproductswhichhaveastellarreputationwiththeconsumingChinesemiddleclass.
ThousandsofFlemishcompaniesareactiveinChina.
2016isanexcellentmomentintimeforyourcompanytoparticipateintheEast-Flanderstrademission,organizedbytheProvinceofEast-Flanders,VokaChamberofCommerceEast-FlandersandFlandersInvestment&Trade,incooperationwiththeFlanders-ChinaChamberofCommerce.
OntheprogrammeareB2Bmeetings,visitstocompanies,portsandindustrialzones.
AlsoplannedaremeetingswithChineseauthoritiesandnetworkingwithChineseandBelgianbusinesspartners.
Wewillvisitfourimportantcities:Beijing,capitalofChina;Shanghai,thebiggestcityofChina;Tianjin,themostimportantportcityinNorthChina;andShijiazhuang,provincialcapitalofHebei.
TheProvinceofEast-Flandersopensdoors.
ThetrademissionisheadedbytheGovernoroftheProvinceofEast-FlandersJanBriersandViceGovernorGeertVersnick.
Formorethan25years,East-FlandershashadcloserelationswiththeChineseProvinceofHebei.
ThepresenceoftheGovernorandViceGovernorwillcertainlyopendoorstoyourcompany!
MoreinformationandsubscriptionThetrademissionisorganizedbytheProvinceofEast-Flanders,VokaChamberofCommerceEast-FlandersandFlandersInvestment&Trade,incooperationwiththeFlanders-ChinaChamberofCommerce.
FCCCNewsletterNo450,March7,2016Page2ADVERTISEMENTANDSPONSORSHIPAdvertisementandsponsorshipopportunities2016TheFlanders-ChinaChamberofCommerceoffersseveraladvertisingandsponsorshipopportunitiesinordertogiveyouractivitiesmoreexposuretopotentialnewclientsandcollaboration.
Ifyouareinterestedinadvertisingorsponsoringorneedmoreinformation,pleasesendane-mailto:gwenn.
sonck@flanders-china.
bewww.
flanders-china.
beThesponsoringopportunitiesarethefollowing:1.
SPONSORINGOFACTIVITIESDuringFCCCactivities,youcanputabannerofyourcompanyattheeventanddistributedocumentationofyourcompanyandobtainfreeinvitations.
InvitationsaredistributedviaE-mailandtheFCCCwebsiteandnewsletters.
Theeventsareannouncedindifferentmediachannels.
Thefeeisaccordingtoeachdifferentevent.
2.
SPONSORINGATTHEFCCCWEBSITEYourlogowillbedisplayedontheFCCChomepagewithclickthroughtoyourownwebsiteortoyourownpageontheFCCC-websiteGOLDENSPONSOR(12months):1.
950SILVERSPONSOR(6months):1.
4503.
SPONSORINGINTHEFCCCWEEKLYNEWSLETTEREveryMonday,theweeklyNewslettersaresentandpostedontheFCCCwebsite.
Numberofrecipientseveryweek:1200executivesdealingwithChinaGOLDENSPONSOR(12months):1.
950SILVERSPONSOR(6months):1.
550SPONSOR(3months):8954.
SPONSORINGINTHEQUARTERLYE-NEWSLETTERINCHINESEANDENGLISHLANGUAGE:"NEWSFROMTHEHEARTOFEUROPE:FLANDERS"#NewslettersarealsopostedonlineattheFCCCwebsite#1issueeveryquarter#Numberofdirectrecipients:+/-2000ChineseandBelgianbusinessleaders,localauthoritiesandinstitutions#DistributedthroughthedifferentChambersofCommerceinChina#Yourlogoontheelectronicnewsletteranda200-wordprofileofChinaactivitiesGOLDENSPONSOR:1.
650-3issuesSILVERSPONSOR:1.
250-2issuesAmountsareexcl.
VAT.
5.
SPONSORINGEU-CHINAACTIVITIESTheEU-ChinaBusinessAssociation(EUCBA)isanassociationofAssociationsintheEuropeanUnioncountriespromotingbusinessrelationsbetweenEuropeanenterprises,institutionsandtheirChinesecounterparts.
ItisanInternationalnon-profitorganisationregisteredinBelgium.
FCCCNewsletterNo450,March7,2016Page3TheFCCCholdsthesecretariat-generaloftheEUCBA.
TheEUCBAorganiseshigh-levelEU-ChinaeventsandalsopublishesaQuarterlynewsbulletin.
www.
eucba.
orgIfyouareinterestedinadvertisingorsponsoringorneedmoreinformation,pleasesendane-mailto:gwenn.
sonck@flanders-china.
beACTIVITIESSUPPORTEDBYFCCCMO*talks:TheworldbecomesChinese–9March2016–BrusselsOnMarch2MO*'sspringissuefocussesonChina'sgrowingroleintheworld.
Dowehavetobeafraidornot:isthetrendbringingusawelcomeandfreshnewwindandnewinvestmentsOntheoccasionofthisisse,MO*isorganizing'MO*talks:theworldbecomesChinese'onWednesday9March2016.
FascinatingspeakersincludeHenkSchulteNordholt(sinologistandauthorof"China&debarbaren"),ChingLinPang(sinologist,antropologistandProfessoratKULeuvenandUAntwerpen),WimPolet(sinologist,HeadInternationalDepartmentIndustrialSciencesKULeuvenandformerDirectorConfuciusinstituutLeuven).
ARepresentativeofteheChineseMissionattheEUhasalsobeeninvited.
JohnVandaele,JournalistofMO*andaChinaSpecialist,willmanagetheevent.
Wednesday,9March2016,19h30,Vlaams-NederlandsHuisdeBuren,Leopoldstraat6,1060Brussel.
Registeratinfo@mo.
beMoreinformationisavailableat:www.
mo.
be/motalks-de-wereld-wordt-chineeswww.
facebook.
com/events/226240827719977/PASTEVENTSSeminar:HowtoPrepareforTradeFairsinChina:SelectionAdvice,NegotiationTipsandIPProtection–2March2016–Eurochambres,BrusselsTheEUSMECentreandtheChinaIPRSMEHelpdeskorganizedahalf-daytrainingseminar,on2ndMarchinBrussels,tolearnallyouneedtoknowaboutpreparingfortradefairsinChina.
ThisseminarwasorganizedwiththesupportoftheEU-ChinaBusinessAssociationandEurochambres.
Duringthisseminar,theEUSMECentre'sexpertRafaelJimenez,alongsideSimonCheetham,TeamLeaderoftheChinaIPRSMEHelpdesk,sharedtheirinsightsonthefollowingtopics:WhattodoinpreparationforatradefairinChinaWhichfairshouldIchoosetoattendinChinaPracticaltipsforbusinessnegotiationinChinaKeyprotectionmeasuresSMEscantakebeforeattendingtradefairsinChinaCollectingevidenceofIPinfringementsFCCCChineseNewYearReception–3February2016–BrusselsOn3FebruarytheFlanders-ChinaChamberofCommerce(FCCC)organizeditsannualChineseNewYearReceptionatKBCBankinBrussels.
Speakersatthiseventwere:MrBertDeGraeve,Chairman,Flanders-ChinaChamberofCommerceHisExcellencyMrQuXing,AmbassadorofthePRCinBelgiumMrGeertBourgeois,Minister-PresidentoftheGovernmentofFlanders,FlemishMinisterforForeignPolicyandImmovableHeritageSpecialthankstoKBCBankatwhichthereceptionwasorganisedandalsoitsgoldensponsor:ZTE,silversponsors:DemeandMaasmechelenVillage.
Picturesoftheeventcanbeviewedonline.
FCCCNewsletterNo450,March7,2016Page4EUCBA:ExclusiveLuncheonwithHerExcellencyMrsYangYanyi,AmbassadorofthePeople'sRepublicofChinatotheEUandHeadoftheChineseMissiontotheEU–3February2016–BrusselsTheEU-ChinaBusinessAssociation(EUCBA)organizedanexclusiveluncheonwithHerExcellencyMrsYangYanyi,AmbassadorofthePeople'sRepublicofChinatotheEUandHeadoftheChineseMissiontotheEUon3February2016inBrussels.
Followinganetworkingcocktail,MrStephenPhilips,ChairmanoftheEUCBA,introducedthespeaker.
AmbassadorYangYanyideliveredthekeynotespeechonthedevelopmentsofEU-Chinarelations.
Mr.
BertDeGraeve,ChairmanoftheFlanders-ChinaChamberofCommerce(FCCC)presentedtheconclusionsoftheevent.
Picturesoftheeventcanbeviewedonline.
EU-ChinaConference:China'sNewNormal:What'sInItForBusinesses–28January2016–BrusselsTheEuropeanUnionChamberofCommerceinChina,theEU-ChinaBusinessAssociationandBUSINESSEUROPEorganizedanexclusivedialoguewiththeEuropeanCommissionerforTradeCeciliaMalmstrm,theEuropeanParliament'sChairforRelationswithChinaJoLeinen,andtheEuropeanChamberChinaPresidentJrgWuttke.
Thiseventtookplaceon28January,2016atThonHotelEUinBrussels.
ThepurposeofthiseventwastotakestockofthemostimportantdevelopmentsintheEU-ChinarelationsandhowthisaffectsEUbusinesses.
FollowinganintroductionbyMrMarkusBeyrer,Director-General,BUSINESSEUROPE,MsCeciliaMalmstrm,EuropeanCommissionerforTradedeliveredakeynotespeechonEU-Chinabusinessrelations.
HerspeechwasfollowedbyaspeechbyMrJrgWuttke,President,EuropeanUnionChamberofCommerceinChinaandanotheronebyMr.
JoLeinen,MemberoftheEuropeanParliamentandChairoftheDelegationforrelationswiththePeople'sRepublicofChina.
FollowingamoderatedpaneldiscussionandQ&A,Mr.
BertDeGraevedeliveredtheclosingremarksonbehalfoftheEU-ChinaBusinessAssociation.
Duringtheevent,representativesfromtheEuropeanChamber'sworkinggroupswereon-sitetoanswerspecificquestionsrelatedtotheirindustrysectors.
TheEU-ChinaBusinessAssociationistheEU-widefederationofbusinessorganisationsintheEUpromotingbusinessrelationswithChina.
TheFlanders-ChinaChamberofCommerceholdsthesecretariate-generaloftheassociation.
FCCCNewsletterNo450,March7,2016Page5ADVERTISEMENTHainanAirlines,yourdirectlinkfromBelgiumtoChinaHainanAirlines,yourdirectlinkfromBelgiumtoChina.
HainanAirlinesisyour5StarAirlineawardedbySkytrax,operatingdirectflightsfromBrusselstoBeijing.
Savetime,flyincomfortandhavethepossibilitytoconnectto50domesticdestinationsincludingHongKongandTaipei.
AseamlessconnectionandaconvenienttransferservicewillbringyouviaBeijingtoyourdestinationinHongKong.
NPC&CPPCCSESSIONSNPCandCPPCCannualsessionsstartinBeijingTheannualsessionsoftheNationalPeople'sCongress(NPC)–theparliament–andtheChinesePeople'sPoliticalConsultativeConference(CPPCC)–theadvisorybody–startedintheGreatHallofthePeopleinBeijingonMarch5andMarch3respectively.
InhisworkreporttotheNPC,PremierLiKeqiangtoldtheDelegatesthatthetargetforChina'sGDPgrowthwouldbebetween6.
5%and7%.
Lastyearhesetthetargetat"around7%"andtheactualgrowthratewas6.
9%,theslowestratein25years.
Thegovernmentherebyindicatesthatitexpectstheeconomicgrowthratetofurtherdropmoderately.
Defensespendingwouldberaisedby7.
6%toCNY954.
4billion,theslowestincreaseinsixyears.
China'sdefensebudgetroseby10.
1%lastyear.
ThePremierproposedanationalfiscaldeficitof3%atCNY2.
18trillionthisyear,whilethetargetwas2.
3%lastyear.
Theincreaseinthedeficitwouldmainlybeusedtoreducetaxesforenterprisesandsafeguardsocialwelfare.
Theconsumerpriceindex(CPI)targetwassetat3%.
Thegovernmentdidnotproposeaspecifictradegrowthtargetthisyearafteradisappointingperformancein2015inwhichexportsandimportscombinedfell7%inrenminbitermsand8%indollarterms.
Chinavowedtocreatemorethan10millionnewurbanjobsandcaptheurbanregisteredunemploymentrateat4.
5%.
Onthemonetaryside,Chinahastargeted13%growthinthebroadmoneysupplyfor2016,upfromthe12%targetlastyear.
Forthefirsttime,thegovernmentalsoincludedagrowthtargetforoutstandingaggregatesocialfinance–settingitat13%for2016,echoingcommentsbyPeople'sBankofChina(PBOC)GovernorZhouXiaochuanlastmonththatChinawouldleantowardsmonetarypolicyeasing.
ChinaisunlikelytorepeattherecklessdevelopmentoftheFCCCNewsletterNo450,March7,2016Page6pastfiveyears–Chinausedmorecementbetween2011and2013thantheU.
S.
usedintheentire20thcentury.
Ontransportlinks,Chinaplanstoboostitshigh-speedrailwaynetworkto30,000kmby2020.
Italreadyhad19,000kmoftrackbytheendof2015–morethantherestoftheworldcombined.
Evenacross-straitrailwaylinelinkingFuzhouinFujianprovinceonthemainlandandTaipeiinTaiwanisunderconsideration.
TheNPCDelegatesalsoreviewedthedraftofthe13thFiveYearPlan(2016-20).
Thisyearisthefirstyearofthenewplan.
PremierLisaidthatinnovationwastheprimarydrivingforceforthecountry'sdevelopment.
Chinaaimstobecomeaworldleaderinadvancedindustries,suchassemiconductors,andinthenextgenerationofchipmaterials,robotics,aviationequipmentandsatellites.
R&Dspendingwillbeboostedto2.
5%ofGDPinthenextfive-yearperiod,comparedwith2.
1%ofGDPfrom2011to2015.
PresidentXiJinpingpledgedtograntwidermarketaccesstothecountry'sprivatesectorduringapaneldiscussionwithCPPCCDelegates.
Duringthetwo-hourdiscussion,10politicaladvisersmadeproposalsonfinancingsupport,widermarketaccess,lowertaxationandfees,aswellasintellectualpropertyrights.
Thecountryshouldtrytosolvethefinancingdifficultiesfacedbysmallandmedium-sizedenterprisesandprovidethemwith"reliable,effectiveandconvenient"services,Xisaid.
Inthecomingmonths,thegovernmentwillprovidemoresupporttogrowthindustries,suchasinformationtechnology,biotechnologyandnewenergy,inpoliciesandinfinancialincentives,PremierLiKeqiangsaidinameetingwithCPPCCDelegatesthedaybeforehedeliveredhisreportattheNPC.
LialsotoldthemthatthecountryhasachievedmostofthegoalssetinitspreviousFiveYearPlan(2011-15).
Healsopromisedthatthegovernmentwillreleasemoresupply-sidereforminitiativesaimedatcuttingovercapacityandeasingtaxationburdensonenterprises.
WangMin,66,ViceChairmanoftheEducation,Science,CultureandPublicHealthCommitteeofthe12thNationalPeople'sCongress(NPC),wasplacedunderinvestigationforcorruption.
HewasPartySecretaryofLiaoningprovincefrom2009to2015,andheheldthesamepositioninJilinprovincefrom2006to2009.
TheCPPCCwillconcentrateontheimplementationofthe13thFiveYearPlan(2016-20)andkeyeconomicissuessuchassupply-sidestructuralreform,ChairmanYuZhengshengsaidattheopeningsessionattendedbymorethan2,100CPPCCDelegatesinBeijing.
OverathirdofproposalsfromCPPCCNationalCommitteeMembersthisyearfocussedoneconomicissues.
Theymadeup2,098ofthe6,012proposalsdeliveredsincethe2015session.
Another605proposalswereaboutjudicialreformandanti-corruptionefforts,while378addressedculturalissuesandstrengtheningtheadministrationofcyberspaceandnewmedia.
TheChineseeconomyisnotheadingforahardlandingandthecountryisconfidentofachievingareasonablegrowthrate,XuShaoshi,ChairmanoftheNationalDevelopmentandReformCommission(NDRC),saidatanewsconference.
"Weareconfidentandcapableofkeepingtheeconomicgrowthratewithinareasonablerange,"Xusaid.
AUTOMOTIVESomecarmakershavetheirpermitsrevokedChineseauthoritiesrecentlyrevokedtheproductionqualificationsofsomepassengervehiclemakers.
TheMinistryofIndustryandInformationTechnology(MIIT)releasedonitswebsiteonFebruary29alistof13manufacturersofpassengercarsthathavebeenbannedfromproductionbecausetheydidnotapplyfororfailedtopassmandatoryevaluationsfortwoconsecutiveyears.
SomeofthemwereoncefamousinChina,includingShuanghuanAuto.
BasedinHebeiprovince,theautomakerwassuedforcopyingthedesignsofinternationalbrands.
The13carmakershavealllongstoppedproduction.
Thecleanupof"zombie"automakers,whichbeganinearnestaftertheMIIT'ssuspensionof14automakers'qualificationsinNovember,isoneofmanystepsthecentralgovernmenthastakentooverhaultheautoindustry.
"Wehavebeenthelargestcar-producingcountryandthelargestcarmarketforseveralyearsbutourautoindustryisfarfromstrong",MIITMinisterMiaoWeisaid.
ZhangFCCCNewsletterNo450,March7,2016Page7Zhiyong,aBeijing-basedAutoAnalyst,believesthemovewillfacilitatemergersandacquisitions(M&As),theChinaDailyreports.
Itwillalsoopenthesectortonewentrants.
Inrecentyears,Chinahasnotgrantedanynewcarmakingqualifications.
Anumberofcompanieshavefiledapplicationstoproducenew-energyvehiclesandevaluationsareunderway,saidtheMIIT.
Chinawillboostpilotsofparallelvehicleimportsinitsfreetradezones,allowingcarstobeimportedwithoutauthorizationfromcarmakers.
Theprogramisakeymeasuretoboost"supply-sidereforms,"whichincludereducingineffectiveandlow-endsupply.
Customswillstreamlineproceduresandregistrationservicesforparallelimportedvehicleswillbeimproved.
TheChairmenofChineseinternetsearchproviderBaidu,RobinLi,andcarmakerZhejiangGeelyHoldingGroup,LiShufu,haveurgedBeijingtospeedupthedraftingofalegalframeworkforautonomousdrivingtechnology.
Theracetobringtomarketself-pilotingcarswilldependinpartonhowreceptiveregulatorsaretothetechnology.
Geelywillstartmassproductionofahybridvehicleusingitsself-developedpowertrain,movingastepforwardtoachievingitsgreencarambitions.
Geely'sflagshipsedanmodel,EmgrandEC7,willbethefirsttousethenewhybridpowertrain,whichwasdevelopedbyajointventurewithHunan-basedtechnologyfirmCorunNewEnergy.
Thecarmakerplansaninitialproductionrunof5,000unitsforthenewhybridmodel.
FINANCEPBOCcutsreserverequirementratioby50basispointsThePeople'sBankofChina(PBOC)cutthereserverequirementratio(RRR)by50basispointsforallbanksbeginningonMarch1,takingtheratioto17%forthecountry'sbiggestlenders.
Themeasureaimstohelpkeepmarketliquidityatreasonablelevelsandguidestableandappropriatecreditgrowth,accordingtoaPBOCstatement.
China'sforeignexchangereserveshitUSD3.
3trillionbytheendoflastyear,overUSD500billionlessthanayearago,sparkingconcernsoverliquidityshortagesthathavespreadtothecapitalmarket.
Majorstockindexeshavetumbledcontinuallysincethestartofthisyear,withthebenchmarkShanghaiCompositeIndexsheddingnearly30%attheworst.
PBOCGovernorZhouXiaochuanreassuredthemarketduringtheG20FinanceMinistersandCentralBankGovernorsmeetinginShanghaiattheendofFebruarythatChinastillhassomemonetarypolicyspaceandtoolstooffsetthedownsiderisks.
ZhangMing,SeniorEconomistoftheInstituteofWorldEconomicsandPoliticsattheChineseAcademyofSocialSciences(CASS),said:"ThereductionintheRRRisappropriate,asitwillhelpreplenishmarketliquidityaftermonthsofcapitaloutflows.
"TherecouldbeanotherfiveRRRcuts,eachby50basispoints,andevenoneortwointerestratecuts,eachby25basispoints,thisyear,Zhangsaid.
ZhuHaibin,JPMorgan'sChiefChinaEconomist,saidtherecouldbeaninterestratecutof25basispointsandfourRRRcuts,eachby50basispoints,thisyear.
ChinalastcuttheRRRonOctober23,2015,andloweredbenchmarkinterestratesby25basispointsonthesameday,theChinaDailyreports.
ChinadownplaysMoody'sdowngradeofgovernmentbondratingChinadownplayedconcernsofahardlandingofitseconomyafterMoody'sdowngradeditsoutlookonthegovernmentbondrating.
WangGuoqing,SpokesmanfortheChinesePeople'sPoliticalConsultativeConference(CPPCC),saidChina's6.
9%growthinGDPlastyear"stoodheadandshouldersaboveothers"intheworld.
Moreover,indicatorsatthestartoftheyearshowed"warmth"intheeconomy.
"Theoveralleconomicsituationisgood,thereforethereisnoproblemofahardlanding,"Wangsaid.
DoubtsaboutChina'seconomicresilienceroseaftercredit-ratingagencyMoody'sdowngradeditsoutlookonthegovernmentbondratingfrom"stable"to"negative".
Moody'sciteduncertaintyovertheauthorities'capacitytoimplementeconomicreforms,risinggovernmentdebt,andfallingforeignexchangereservesasthereasonsbehindthedowngrade.
TheagencyalsowarneditcouldfurtherdowngradeChina'sratingifitsawaslowingofthereformsneededtosupportsustainablegrowthandtoprotectthegovernment'sbalancesheet.
AcontinuingfallinforeignexchangereservesofUSD762billionoverthepast18months,causedbycapitaloutflows,highlightedpolicy,currencyandFCCCNewsletterNo450,March7,2016Page8growthrisks,Moody'ssaid.
YettheagencyretainedtheAa3ratingongovernmentbonds,notingthatthecountry'ssizablereservesgaveitmoretimetoimplementreformsandgraduallyaddresseconomicimbalances,theSouthChinaMorningPostreports.
BettercoordinationamongregulatoryagenciesneededChinaneedsbettercoordinationandcommunicationamongitsvariousregulatoryagenciestoensurefinancialstability,LiuMingkang,formerChairmanoftheChinaBankingRegulatoryCommission(CBRC)said,addingthatmultipleissuesneedtobeaddressedbeforereformingtheexistingfinancialregulatoryagencies.
HewasrespondingonthesidelinesoftheongoingCPPCCmeetingtoearliermediareportsthatsuggestedthatChinaismullingthecreationofafinancialsuper-regulatorasearlyasthisyear.
PanGongsheng,ViceGovernorofthePeople'sBankofChina(PBOC)andaCPPCCmember,saidthattheChineseauthoritiesarestudyingthereformplanbutthereisnotimetableforit.
ChiFulin,PresidentoftheChinaInstituteforReformandDevelopmentsuggestedmergingthethreecommissionssupervisingthesecurities,bankingandinsurancemarkets.
Kazakhstanwillbuildanoffshoreyuancenter,expandtheyuanclearingnetwork,andextendcooperationwiththeShanghaistockandgoldexchanges.
MoreChinesefinancialinstitutionswillbeencouragedtohelpKazakhstandevelopitscapital,Astana,asaninternationalfinancialcenter.
ChinesecompaniesareexpectedtobethelargestclusterofforeigninvestorswhentheAstanaInternationalFinancialCenter,initiatedin2015,startsfulloperationin2018.
WangJun,AdjunctProfessorofFinanceattheChinaEuropeInternationalBusinessSchool(CEIBS),saidChinaurgentlyneedstodevelopanationalstrategyoninclusivefinance,asystemthatofferstimely,convenientanddifferentiatedfinancialservicestoallindividualsandbusinesses,especiallytolow-incomehouseholds,ruralresidentsandmicroandsmallbusinessesataffordablecosts.
Privateenterprises,especiallysmallandmedium-sizedones,receivedonly30%ofbankloans,althoughtheycontributed60%ofthecountry'sgrossdomesticproduct(GDP)andprovided80%ofemploymentincitiesandtowns.
Theoffshoreyuanstrengthenedtoathree-weekhighonMarch4amidexpectationsoffreshstimulusmeasuresduringthelegislativemeetings,boostingthecurrencytoitsbiggestweeklygainintwomonths.
People'sBankofChina(PBOC)ViceGovernorYiGangsaidthenation'scurrencyandmonetarypolicieswillremainstable.
ChinaLifeInsuranceCoagreedtobuya23.
686%stakeinChinaGuangfaBank(CGB),includinga20%stakefromCitigroupandIBMCredit's3.
686%.
TheacquisitionwillcostChinaLifeatotalofCNY23.
31billion.
TheinsurancegroupwillbecomethesinglelargestshareholderoftheGuangzhou-basedcommerciallender,withitsstakeinthebankincreasingto43.
686%ofthetotal.
Thetransactionisexpectedtocloseinthesecondhalfof2016.
TheequityacquisitionbyChinaLifemayacceleratethebank'sIPOprocess.
AGuangzhoucitycourthassentencedtheheadofoneofChina'slargestfinancialscams–whichraisednearlyCNY10billionfrommorethan230,000victims–tolifeimprisonment.
24peoplewereconvictedofillegallyraisingfundsforthescamduringthedecadeto2012.
Theyhadtargetedmostlyelderlyretailinvestors,frommorethan60citiesin16provinces,promisingthemreturnsofupto47%peryearontheirlifesavings.
Chinahasthehighestadoptionrateintheworldfortechnology-enabledpaymentsystems,accordingtoareportfromthemarketresearchfirmNielsen,basedonasurveyof13,000respondentsin26countries.
Thesurveyshowedthat86%ofChineserespondentssaidtheypaidforonlinepurchasesduringthepastsixmonthsviadigitalpaymentsystemscomparedwithaglobalaverageofjust43%.
About98%oftherespondentsinChinasaidtheyhadmadepurchasesonline.
Chinaisexploringthecreationofamechanismthatwoulduseabandtoguidethecountry'sinterestrates,anapproachaimedatgivingthemarketagreatersayinthefinancialsystem,YiGang,ViceGovernorofthePeople'sBankofChina(PBOC),said.
"Chinaneedstoimprovetheinterestratesystemtoenhancetheguidanceofthemarketratesandtheeffectivenessofmonetarypolicy,"Yisaid.
FCCCNewsletterNo450,March7,2016Page9FOREIGNINVESTMENTQualcommandThunderSoftwaresetupJVinChongqingQualcommhassetupajointventurewithChinesepartnerThunderSoftwareTechnologyCotodeveloptechnologiesusedindrones,virtualrealitygogglesandothersmartdevices.
ThenewJV,namedThundercomm,hasaregisteredcapitalofCNY18.
74million.
Beijing-basedThundersoftwillcontrolnearly82%oftheJV.
TheJVwillbelocatedattheFairyPeachDataValleyinChongqing,whichhasbecomeoneoftheworld'slargestmanufacturingbasesofsmartdevicesinrecentyears.
ZhangShutao,GeneralManagerofThundercomm,saidtheJVwilluseintellectualpatentsfromQualcomm.
FrankMeng,ChairmanofQualcommChina,toldChinaDailythatChinesestartupsaresettoleadtheworldininnovationinanarrayofemergingsectors.
Chinesetechfirmsaremakingtechnologicalbreakthroughsinsteadofwaitingforideasimportedfromoverseascompanies,saidMeng.
MaLongwen,AnalystfromChangjiangSecuritiesCo,saidthenewJVwillgiveanedgetoThundersoftinmanyareas,includingdronemaking,smartautomobilesandVR.
ChinatofurtherlowerentrybarriersforforeigninvestorsChinawilllowertheentrybarrierforforeigninvestorsandspeeduptherevisionofrelevantlaws,SpokesmanfortheMinistryofCommerce(MOFCOM)ShenDanyangsaid.
Chinawillencouragethemtoinvestinthehigh-tech,greenandserviceindustries,wheredomesticsupplyfallsshort,headded.
In2015,ChinaattractedCNY781.
4billioninnon-financialforeigndirectinvestment(FDI),up6.
4%from2014.
ShenalsosaidforeigninvestorscanparticipateinthereformsofChinesestate-ownedenterprises(SOEs)throughmergersandacquisitions(M&As).
"ConsideringChina'slimitedcapacityinhandlingvariousresources,themovebysomeforeigncompaniestakingoverSOEscanhelpinactivatingmarketvitalityandfacilitatingSOEreforms,"hesaid.
ForeigninvestorsspentUSD17.
8billiontotakeoverSOEsinChina,or14.
9%ofthecountry'sCNY781.
3billionFDIin2015.
TheMinistryofCommercesaiditplanstosubmitthedraftofaforeigninvestmentlawtotheNationalPeople'sCongress(NPC),thecountry'slegislativebody,bytheendofthisyeartofurthereaserestrictionsonforeigninvestorsandgrantthemeasieraccesstotheChinesemarket.
InJanuary,China'snon-financialoutboundinvestmentrosetoCNY78.
7billion,almostthreetimestherateinDecemberandariseof18.
2%fromayearearlier.
Ofthecountry'stotaloverseasdirectinvestmentinJanuary,92.
5%camefromsmallerenterprises,up175%fromthesameperiodlastyear.
Accordingtothedraft13thFiveYearPlan(2016-2020),Chinaaimstoswitchfromanemphasisonquantitytoqualityinforeigndirectinvestment(FDI),pledgingtoeaseaccessforoverseasinvestorstoservicesectors,includingarchitecture,auditingandfinance.
Othersectorswhereforeigninvestmentiswelcomearechildren'seducation,elderlycare,insurance,securitiesandbanking.
FOREIGNTRADEChinaremainsworld'slargesttradingnationChinaretaineditspositionastheworld'slargesttradingnationin2016,despitenotreachingitstargetof6%growthinforeigntrade.
China'sforeigntradevolumereachedUSD3.
96billionin2015,down8%year-on-year,butitsforeigntradeingoods,exportvalueandtotalonlineretailsalesstillrankedfirstintheworld.
Thecountry'stotalretailsalesandtradeinservicesalsorankedsecondintheglobalmarket.
CommerceMinisterGaoHuchengsaidthatdespitedouble-digitnegativegrowthinglobaltradelastyear,thedeclineinChina'sexportgrowthratewasfarlowerthanthatofothermajoreconomies.
China'sexportsaccountedformorethan13%oftheinternationalmarket,anincreaseof1percentagepointafterarapidincreaseofitssharein2015,thefastestgrowthinrecentyears.
China'ssurplusoftradeingoodsreachedUSD593billionlastyear,up55%onayear-on-basis,playinganimportantroleinensuringthecountry'sfinancialsecurity.
TradeinservicesreachedUSD713billion,up14.
6%year-on-year.
FCCCNewsletterNo450,March7,2016Page10HEALTHChemicalsinfoodtopconcernforFDAChemicalhazardsarethetopconcernforfoodsafetyinChina–primarilytheabuseofadditivesandexcessiveresiduesofagriculturalchemicalsandveterinarydrugs–buttheAdministrationlacksthecapacityforefficientmanagementandsupervision,accordingtoBiJingquan,DirectorofChina'sFoodandDrugAdministration(FDA).
TheAdministrationhasconductedinspectionsofmorethan40,000batchesoffoodproductsknowntobeatriskforexcessiveresiduesofagriculturalchemicalsandveterinarydrugs,and255werefoundinviolationofstandards.
MACRO-ECONOMYBeijinghasmost"unicorn"techstart-upsafterSiliconValleyBeijingboaststheworld'ssecond-largestnumberofmostvaluabletechstartups.
Thenumberofso-called"unicorncompanies"–techstartupsvaluedatmorethanUSD1billioneach–hasreached40,secondtoSiliconValleyintheUnitedStates,accordingtotheZhongguancunUnicornListreleasedbytheGreatWallEnterpriseInstitute.
TheyaccountforhalfsuchcompaniesinChina,withanaggregatevaluationofUSD146.
2billion,includingthreeworthmorethanUSD10billioneach.
SmartphonemakerXiaomi,valuedatUSD46billion,ranksfirst,followedbygroup-buyingplayerMeituan-Dianping,valuedatUSD18billion.
DidiKuaidi,China'slargestride-hailingapp,valuedatUSD16.
5billion,cameinthird,thereportsaid.
LiuHang,SpokesmanfortheManagementCommitteeoftheZhongguancunSciencePark,estimatesthatwithtechnicalbreakthroughsinbigdataapplication,intelligenthardware,artificialintelligenceandvirtualreality,aseriesofnewunicorncompanieswillemergeinthesefields.
ByDecember,therewere70unicornfirmsnationwide.
Beijingrankedfirstwith40,followedbyShanghai(15),Hangzhou(4)andShenzhen(3).
Lastmonth,alistissuedbyFortunemagazineshowedthenumberofunicorncompaniesgloballyhadincreasedto173,with35inChina,theChinaDailyreports.
Chinaplanstolayoffanestimated1.
8millionemployeesintheironandcoalindustryasitreducesexcessindustrialcapacity.
Inaddition,astheyfaceaslowingeconomy,manycompanieswithoperationaldifficultieswillnotgenerateasmanyjobsasbefore,makingitmoredifficultfornewgraduatesandtheunemployedtofindjobs.
Chinaisplanningtoraisetheretirementageby2022afterafive-yeartransitionalperiod.
Currentlytheretirementageis55forfemaleand60formaleemployees.
Thenumberofpeopleaged16to60fellby4.
87millionto911millionin2015,thefourthconsecutiveyearofdecline.
AccordingtoresearchbytheNationalSurveyandResearchCenteratRenminUniversityofChina,thenumberofstart-upbusinessesper100,000peopleinChinafarsurpassedtheequivalentfiguresintheUnitedStates.
ZhuhaiinGuangdongprovincerankedNo1with2,822newbusinessescreatedper100,000peoplelastyear,whileinMiami,thetopU.
S.
city,thefigurewas247.
6.
TheCenteraddedthatthequalityofinnovationinChinastilllaggedbehindtheU.
S.
Thenumberofnewlyregisteredcompaniesgrewto4.
4millionin2015,a21.
6%year-on-yearincrease.
In2015,thenumberofmigrantresidentslivinginShanghaidroppedforthefirsttimeinthepast15years.
ItwasalsothefirsttimeShanghaiwitnessedadecreaseinitspermanentpopulationsinceChinaadoptedthepolicyofreformandopening-upin1978.
Bytheendof2015,Shanghai'spopulationofmigrantresidentshaddecreasedto9.
8million,comprising40.
6%ofthecity'sroughly24millionpermanentresidents.
TheofficialPurchasingManagers'Index(PMI)fell0.
4pointsfromJanuaryto49inFebruary.
Itwastheseventhconsecutivemonthmanufacturinghadbeenbelow50.
ThemanufacturingPMI'scomponentindexesshowedproductionfellto50.
2lastmonth,downfromJanuary's51.
4.
Neworderslost0.
9pointsto48.
6,stayingbelow50forthesecondstraightmonth.
Thepurchasevolumeofrawmaterialslost1.
1pointsto47.
9,whileemploymentretreated0.
2pointsto47.
6,bothworsethanayearearlier.
Theofficialnon-manufacturingPMI,acounterpartfortheservicesector,fellto52.
7inFebruary,downfrom53.
5amonthearlier.
FCCCNewsletterNo450,March7,2016Page11ThethinktankCaixinInsightGroup-CEBMlauncheditsNewEconomyIndextobettertracktheoverallChineseeconomyduringitsrestructuring.
Itcoversninecategorieswith111sectors.
Theindex,undergoingasoftlaunch,stoodat31.
8inFebruary–measuringtheshareoftheneweconomyinoverallGDP.
Itwas26.
3inJanuary.
Therisewasdrivenbyspendingontechnology,researchanddevelopment.
Chinaisstilldrivingtheworldeconomydespitetheslowdown.
Thecountrycontributedmorethan25%ofeconomicgrowthinthepastyear,accountingfor15%oftheglobaleconomy,accordingtotheInternationalMonetaryFund(IMF).
MERGERS&ACQUISITIONSChinaResourcesacquiresSABMiller'sstakeinCRSnowChinaResourcesBeerhasagreedtobuySABMiller'sstakeinitsCRSnowventureforaless-than-expectedUSD1.
6billion.
ThedealtosellSABMiller's49%CRSnowstakewaswidelyanticipatedbutcamesoonerthanexpected.
ItisthelatestinaseriesofdivestmentsaimedatgettingapprovalforSABMiller'sUSD100billion-plustakeoverbyABInBev.
ChinaResourceshas98breweriesanditsbrandSnowBeerisconsideredthebest-sellingbrandinChina.
In2014,intermsofvolume,SnowBrewerieshada23.
8%marketshare,followedbyTsingtaoBeerat18.
4%,BudweiserAnheuser-BuschInBevat14.
3%,BeijingYanjingBreweryat12.
3%,andCarlsbergGroupat7.
5%,accordingtotheMintelReportExecutiveSummaryofBeerinChina.
Themarketisconsolidatingwiththetopfivecompaniestakingabout75%ofthetotalmarket.
GermanmachinebuilderManzannouncedplanstosellatleasta29.
9%staketoShanghaiElectricGroupCo,withthepossibilityofafulltake-over.
Manz,whichproducesequipmentforthesolarindustryaswellasmachinesformanufacturingsmartphonesandtablets,outlinedplansinDecembertocut174jobs,orabout10%oftheworkforce.
FiguresfrominformationproviderMorningWhistleGroupshowthatprivatecompaniescompleted76.
78%oftheM&Adealslastyear,whilestate-ownedenterprises(SOEs)accountedfor20.
29%.
Thetargetareasweretechnology,media,telecommunications,agriculture,food,energyandmineralresources.
Thatislikelytoremainthesamethisyear,accordingtoanalysts.
Chinese-ownedAMCEntertainmenthasagreedtopurchaseCarmikeCinemasinaUSD1.
1billiondealthatcreatestheworld'slargestmovietheaterchain.
ThemergerwillcombineCarmike's2,954screenswithAMC's5,426,creatingacompanywithmorethan600theaterlocationsacrosstheUnitedStates.
ThepurchasepriceperscreenisUSD376,000.
PEinvestorsinjectedUSD192.
1billioninnewinvestmentsinChinalastyear,markinga169%jumpfromayearearlier,accordingtoareportbyPricewaterhouseCoopers(PwC).
Ariseinthe"neweconomy"andgovernmentsupportforentrepreneurshipweredrivingthemomentum.
Thehigh-technologysectorledinbothdealvolumeandvalue.
Therewere423dealsinthesectorlastyear,up40%fromayearearlier.
REALESTATEPricesofnewhomesincreaseagaininFebruaryThecostofanewhomeroseagainacrossChinainFebruary,theChinaIndexAcademysaidinareport.
Theaveragepriceofanewhomerose0.
6%toCNY11,092persquaremeterfromamonthearlier,aftera0.
42%gaininJanuary.
Nationwide,pricesclimbedin61cities,butfellin38citiesandwereunchangedinone.
Amongthegainers,22citiesregisteredamonth-on-monthgrowthofmorethan1%,anincreaseoffivefromJanuary.
ZhongshaninGuangdongprovincerecordedthebiggestmonthlyriseof5.
63%,followedbySuzhouandShenzhen,whichsawhomepricesrise5.
56%and5.
41%,respectively,fromamonthearlier.
Inthecountry's10largestcities,theaveragecostofanewhomeincreased0.
51%toCNY20,842persqm,comparedwitha0.
54%riseinJanuary.
"Asthemarketisapproachingitstraditionalhighseason,weexpecttoseerobustsentimentamongbothrealestatedevelopersandhomebuyers,withboostingmeasuresbythegovernmentsuchasthecutindownpaymentandaFCCCNewsletterNo450,March7,2016Page12reductionindeedandbusinesstaxescontinuingtotakeeffect,"theAcademysaid.
Onanannualbasis,theaveragepriceofanewhomejumped5.
25%inFebruary.
Differentrealestatepoliciesshouldbeadoptedacrossthecountryaskeycitieshaveseenskyrocketingpropertypriceswhilesalesinsmallercitiesarestillfalling,CPPCCDelegatessuggested.
HomepricesinShenzhenhaveincreased72%inthepast12months,asShanghaiandBeijingarefollowingsuit.
Thepriceofpre-ownedhomesinBeijinghasjumped10%to30%aftertheChineseLunarNewYear.
Guangzhouislikelytobecomethefirsttier-onecityinChinatolifthome-purchaserestrictionsforbuyersfromHongKongandMacao,tospeeduppropertydestockingandboosteconomicgrowth.
Adocumentcontaining11instructionsreleasedbytheGuangdongprovincialgovernmentsaidHongKongandMacaubuyerscouldenjoythesamebenefitsaslocalsin"eligiblecities"intheprovinceaspartofitsplantoclearthestockof160millionsqmofunsoldflats.
Itdidnotidentifytheeligiblecities,butindustryexpertssaidtheybelievedGuangzhouwouldstandahighchancetobeincludedasthecity'shomepriceshadbeenlaggingthoseofothercities.
Shanghai'shomemarkethasshownsignsof"panicbuying",withsomenewprojectssellingoutinaday.
Thecentralgovernmentissuedseveralpoliciesinrecentmonthsaimedatboostinghomesalesinsmallercities,includingcuttingthepropertytransactiontaxandloweringdownpayments.
Mostoftheeasingdoesnotapplytotop-tiercitiessuchasShanghai,whichisoneofonlyfivecitiestostillenforcestricthomepurchaserestrictionslimitingnon-permanentresidentstobuyingjustoneflat.
Shanghaisawhomepricesrise15%year-on-yeartoarecordCNY37,062persqminJanuary.
ADVERTISEMENTHKWJTaxLaw:YourHongKong&MainlandChinaTaxAdvisorWebsite:www.
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hkRETAILAdidastoopen3,000morestoresinChinaby2020GermansportswearmakerAdidaswillexpanditsretailnetworkinChinafromthecurrent9,000storesto12,000by2020.
"WithinterestinsportsinChinacontinuingtogatherpace,ournewlyunveiled'CreatingtheNew2020GreaterChina'strategywillfurtherbuilduponourrecentachievementsandleadAdidastobecomeChina'sbestsportsbrandby2020,"saidColinCurrie,ManagingDirectorofAdidasGroupChina.
Thecompanyrecordedan18%growthinsalesinChinalastyear,drivenbytheso-calledperformanceandstyleproducts,accordingtoitsannualreport.
Thecompany'snewfiveyearplanfocusesonproductivityin23keycitiesastheyrepresentpotentiallymorethan50%oftotalbusinessinChina,Curriesaid.
FCCCNewsletterNo450,March7,2016Page13Thecompany'scorebrandsincludeAdidas,Reebok,TaylorMadeandReebok-CCMHockey.
Adidasemploysmorethan3,000peopleinChina.
Thecompany'sChinaoperationsgeneratedsalesworth2.
5billionin2015.
JD.
comtoinvestinhigh-growthbusinessJD.
com,China'ssecond-largestbusiness-to-consumer(B2C)e-commerceservicescompany,aimstofocusoninvestmentinhigh-growthbusinessareasthisyearandimproveitsprofitabilityafterpostingmixedresultsforlastyear.
Thecompanyreporteda58%increaseintotalrevenuelastyeartoCNY181.
28billion,upfromCNY115billionin2014,primarilyduetoincreasesinactivecustomeraccountsandthenumberoffulfilledorders.
Itstotalfulfilledorderslastyearjumped94%to1.
26billion,comparedwith651.
9millionin2014.
Coregrossmerchandisevolume–thetotalvalueofallgoodssoldacrossthee-commerceserviceduringthe12monthstoDecember–climbedtoCNY446.
5billion,up84%year-on-year.
ThatestimateexcludedgoodssoldonthenowdiscontinuedPaipai.
comconsumer-to-consumer(C2C)onlinemarketplace,whichwasclosedbyJD.
comattheendofDecemberduetorampantcounterfeitingproblems.
JD.
com,however,sawitstotallosswidentoCNY9.
4billionlastyear,fromCNY5billionin2014,becauseofhigheroperatingcosts.
Fulfillmentexpenses,whichprimarilyincludeprocurement,warehousing,deliveryandcustomerserviceexpenses,increased73%year-on-yeartoCNY13.
9billion.
Marketingcostsrose93%toCNY7.
7billion,whiletechnologyandcontentspendinggrew88%toCNY3.
5billion.
JD.
com'sstaffissettoreachmorethan150,000thisyear,theSouthChinaMorningPostreports.
ZhangJindong,FounderandChairmanofSuningHoldingsGroup,China'slargestelectronicsretailer,iscalling2016a"yearofopportunities"forfirmsinthesectorasthecountryshiftstowardmoredomesticconsumption.
Despiteaslowingeconomy,Chineseconsumers'onlinespendingonforeigngoodsisexpectedtoremainstronginthenextfiveyears.
MarketresearchfirmMintelforecastthesalesfiguretogrow18%eachyearto2020.
In2015,themarketballoonedbymorethan60%,accordingtoHaitaoRetailing,Mintel'sfirstreportonthetopic.
LegowillopenitslargestretailstoreintheworldneartheShanghaiDisneyResort.
The1,000-square-meterstorewillbelocatedonthemainshoppingstreetoutsideDisneyland,whichisscheduledtoopeninmid-June.
ChinahasenjoyedwhatLegocalleda"highlysatisfactory"34%growthin2015year-on-year.
ItisexpectedthatChinawilljointheUnitedStatesandGermanyasthetopthreelargestmarketsforLegosoon.
STOCKMARKETSProfitsofChiNext-listedcompaniesincreaseTheaveragenetprofitoffirmslistedontheChiNextIndex,China'sNasdaq-styleboardforstartups,grewatitsfastestspeedinfiveyearsin2015.
The500-someChiNext-listedcompaniesrakedinanaveragenetprofitofCNY125millionlastyear,up27.
8%year-on-year.
Theirrevenueonaveragealsoroseatafive-yearhighof29.
4%year-on-year.
Atotalof322companiesreportedincreasedprofits,accountingfor65%ofthetotal,while173firmssawdeclines.
Thepercentagesofcompanieswithgainsversusthosewithlossesweresimilartothenumbersin2014.
Amongthegainersin2015,ninewitnessedadramaticsurgeinnetprofitsofmorethan500%.
TheyincludeEastMoney,NationzTechnologiesandEDANInstruments.
Atotalof71companiesreportedtheirprofitsmorethandoubledlastyear,includingBaofengTechnologyCo,AnhuiShengyunMachineryCoandJinlongMachinery&ElectronicsCo.
Theinternetindustryreportedprofitgrowthof146%year-on-yearin2015.
ThedatashowedthegrowthenginehassteadilymovedfromtraditionalsectorstoemergingindustriesasChinapushestorestructureitseconomy,theShanghaiDailyreports.
TheChinaSecuritiesRegulatoryCommission(CSRC)announcedthatChina'sthirdnationalequitymarketwilldivideitslistedcompaniesintotwomarketsfromMay,amoveaimedatmeetingtherequirementsofsmallandmedium-sizedenterprisesandtoimproveefficiency.
TheNationalEquitiesExchangeandQuotations(NEEQ)willseparatethecompaniesintoinnovationmarketandbasicmarket,accordingtoZhangFCCCNewsletterNo450,March7,2016Page14Xiaojun,CSRCSpokesman.
TheNEEQortheNewThirdBoardispopularamongmicro,smallandmedium-sizedfirms.
Thereare5,878companieslistedonthemarket.
ChinesemainlandstocksralliedthemostsinceNovemberonMarch2,3and4ledbypropertyandbuildingmaterialcompanies,asgovernmentpoliciesaimedattherealestatesectoreaseduncertaintyandmoreinvestorspouredfundsintotheA-sharemarket.
OnMarch2,thebenchmarkShanghaiCompositeIndexroseby4.
26%tocloseat2,849.
68points,thebiggestgainsinceNovember4.
TheShenzhenComponentIndexincreased4.
77%,whilethestartupindexChiNextclimbedby4.
27%.
GuotaiJunanSecuritieshasrelaxedconditionsonitsstocklendingandmargintrading.
Itraisedtheaverageconversionrateformargintradingandstocklendingto56.
2%forsharetransactionsinblue-chipandgrowthcompanieswithstableperformances.
Thecurrentmaximumconversionrate,accordingtoregulations,is70%.
Itisthefifthbrokeragetorelaxmargintradingandstocklendingconditions.
TRAVELAirbushashighhopesfornewA330completioncenterAirbusexpectsitsnewChinaA330completioncenterinTianjintodeliverajetpermonthstartingin2017,risingtotwopermonthinthefollowingtwoyears.
AirbussaiditexpectsChina'saviationmarkettoprovidedemandfor5,400newairplanesoverthenext20years.
TheEuropeanplanemakerisalsostudyingifitshouldincreasetheproductionrateatitsA320assemblylineinTianjin.
AirbussetuptheA320finalassemblylinein2008,whichislocatedadjacenttothenewcompletionanddeliverycenterfortheA330wide-bodyjet.
ClubMéditerranéePresidentHenriGiscardd'EstaingsaidChinesetouristsarechangingthewaytheytaketheirholidaysandswappingquantityforquality.
"Touristsswapsightseeinginmultiplecitiesforalonger-termstayinonelocation.
ThisisamassivechangeandagreatopportunityforClubMed,"hesaid.
ClubMedhasabout80resortsinmanycountries,includingfourinChina,whichGiscarddescribedasitssecond-largestmarket.
HepredictedthatClubMedwouldhavearound200,000guestfrommainlandChina,HongKongandTaiwanthisyear.
ChinesebillionaireWangJianlin,ChairmanofDalianWandaGroup,andpartnercompanies,plantoinvestmorethan3billioninaretailandleisuredevelopmentprojectoutsideParistocompetewithDisneyland.
EuropaCitywillbebuilt10kmnortheastofParisby2024.
ItwillbethebiggestsingleinvestmentprojectinEuropetodate,includingathemepark,showstage,hotel,retailstoresandconferencecenters.
Theproject,whichspansmorethan80hectares,willalsoprovideabout20,000jobsduringconstructionand14,000afteritopens.
ChinaandtheUnitedStateslaunchedtheU.
S.
-ChinaTourismYear2016ataceremonyinBeijing.
Itaimstoincreasetravelandtourismbetweenthetwocountriesbyenhancingthetravelexperience,increasingtravelers'culturalunderstandingandexpandingtheappreciationofnaturallandscapes.
"In2015,totalbilateralvisitssurpassed4.
75million.
Wehopethenumberwillsurpass5millionthisyear,"saidLiJinzao,ChairmanoftheChinaNationalTourismAdministration(CNTA).
Chinahasestablishedastate-ownedconglomeratetodevelopaircraftengines,amovethatexpertssaywillextensivelyboostthecountry'saviationindustry.
CaoJianguowasappointedChairmanoftheAircraftEngineCorpofChina.
HeisaformerGeneralManagerofChinaAerospaceScienceandIndustryCorp.
AtleastthreeaviationenginecompaniesunderAVIC–SichuanChengfaAeroScienceandTechnology,AVICAviationEngineCorpandAVICAero-EngineControls–willbemergedintothenewcompany.
HNAGroupandAccor,Europe'sbiggesthoteloperator,areamongpotentialbiddersforCarlsonRezidorHotelGroup,whichownstheRadissonandParkPlazabrands.
AsalecouldbeworthaboutUSD2billion,andadealcouldbedoneassoonasthemiddleoftheyear.
HNAHospitalityhasbecomeoneofChina'sbiggesthotelcompanieswithmorethan90hotelsin30cities.
FCCCNewsletterNo450,March7,2016Page15ONE-LINENEWSBrazilianstateenergyfirmPetróleoBrasileiro,whichisstrugglingtofixitstroubledfinancesamidthecrudepricefall,saiditobtainedaChineseloanuptoUSD10billioninexchangeforsupplyingpetroleumtoChinesecompanies.
ChinesePremierLiKeqianghasreceivedJacobLew,U.
S.
TreasurySecretaryandSpecialRepresentativeofU.
S.
PresidentObamainBeijing.
ChinesePresidentXiJinpingwillmeetObamaatthefourthNuclearSecuritySummitonMarch31andApril1inWashingtonDC.
TheChineseandU.
S.
leaderslastmetattheParisClimateSummitinDecember.
China'sfirstlunarlanderhasbeenoperatingonthemoonforovertwoyears,thelongesttimeforanactiveprobe.
Chang'e-3hasexceededitsoperationallifeofoneyearandhasbeeninservicefor15extramonthssincelandingonthemoononDecember14,2013,saidYePeijian,ChiefScientistwiththeChang'e-3program.
QUOTESOFTHEWEEK"Chinawillfacemoreandtougherproblemsandchallengesinitsdevelopmentthisyear,sowemustbefullypreparedtofightadifficultbattle.
[…]Wewillnotbedauntedbytheseproblemsandchallenges.
Thereisnodifficultywecannotgetbeyond.
"ChinesePremierLiKeqianginhisGovernmentWorkReporttotheNationalPeople'sCongress(NPC),March5,2016.
"TheChineseeconomywilldefinitelynotseeahardlanding.
Pleaserelax,suchapossibilitydoesn'texist.
"XuShaoshi,ChairmanoftheNationalDevelopmentandReformCommission(NDRC),atapressconferenceinBeijing,March6,2016.
YourbannerattheFCCCwebsiteornewsletterCompaniesinterestedinpostingabanner/anadvertisementontheFCCCwebsite,FCCCweeklynewsletterorbi-FCCCNewsletterNo450,March7,2016Page16weeklysectoralnewslettersarekindlyinvitedtocontacttheFCCCat:info@flanders-china.
beOrganisationandfoundingmembersFCCCPresident:Mr.
BertDeGraeve,ChairmanoftheBoard,NVBEKAERTSAVice-President:Mr.
StefaanVanhooren,PresidentAgfaGraphics,MemberoftheExecutiveCommitteeoftheAgfaGevaertGroup,NVTHEAGFA-GEVAERTGROUPSASecretaryandTreasurer:WimEraly,SeniorGeneralManager,NVKBCBankSAExecutiveDirector:Ms.
GwennSonckMembersoftheBoardofDirectorsandFoundingMembers:Mr.
BertDeGraeve,ChairmanoftheBoard,NVBEKAERTSAMr.
JozefDeMey,ChairmanoftheBoard,NVAGEASSAMrPhilippeVandeuren,Legal&CorporateAffairsDirectorBenelux&France,NVABINBEVMr.
CarlPeeters,CFO,NVBARCOSAMr.
JohanVerstraete,Vice-PresidentMarketing,Sales&ServicesWeavingSolutions,NVPICANOLSAMr.
LucMaton,GeneralManagerAsiaRegion,NVAHLERSSAMr.
PhilipHermans,DirectorGeneral,NVDEMESAMr.
PhilippeVanDerDonckt,DirectorBusinessDevelopment,NVUMICORESAMr.
WimEraly,SeniorGeneralManager,KBCBankSAMembershipratesfor2016(excl.
21%VAT):SMEs:385Largeenterprises:975Contact:Flanders-ChinaChamberofCommerceOffices:Ajuinlei1,B-9000Gent–BelgiumNewtelephoneandfaxnumbers:Tel.
:+32/9/269.
52.
46–Fax:++32/9/269.
52.
99Registeredoffice:ZenithBuilding,KoningAlbert-IIlaan37,1030BrusselsE-mail:info@flanders-china.
beWebsite:www.
flanders-china.
beShareyourstory:Tosendyourinputforpublicationinafuturenewslettermailto:info@flanders-china.
beThisnewsletterisrealizedwiththesupportofFlandersInvestment&Trade.
TheFCCCNewslettersareeditedbyMichelLens,whoisbasedinBeijingandcanbecontactedbye-mailmichel.
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com.
Disclaimer:theviewsexpressedinthisnewsletterarenotnecessarilythoseoftheFCCCoritsBoardofDirectors.
FCCCNewsletterNo450,March7,2016Page17
comtoinvestinhigh-growthbusinessStockmarketsProfitsofChiNext-listedcompaniesincreaseTravelAirbushashighhopesfornewA330completioncenterOne-linenewsQuotesoftheweekLiKeqiang,XuShaoshiFCCC/EUCBAACTIVITIESSeminar:HowtoSucceedintheChineseMarket–16March,15h30–GhentTheFlanders-ChinaChamberofCommerceisorganizingaSeminarfocusedon:'HowtoSucceedintheChineseMarket'.
Thiseventwilltakeplaceat15h30onWednesday16March2016attheClubofFlanders,Sint-Pietersnieuwstraat11,9000Ghent.
Theaimoftheeventwillbetoshare,discussandexchangeknowledgeandexperiencesbetweencompaniesdoingbusinesswithorinvestinginChina.
Theprogrammewillbeasfollows:15h0015h3015h3517h00RegistrationIntroductionbyMrsGwennSonck,ExecutiveDirector,Flanders-ChinaChamberofCommerceCasestudiesofdoingbusinessandinvestinginChina,byMrRobertDeRegge,CEO-adinterimandChairmanoftheBoardofDirectors,Vitalo;andMrDirkLaeremans,GeneralManager,OrientasExchangeofviewsandnetworkingdrinkIfyouareinterestedinattending,pleaseregisteronlineatwww.
flanders-china.
bebefore10March2016.
ParticipationfeeforFCCCmembers:45(incl.
21%VAT),non-members:90,75(incl.
21%VAT).
ChinaMissionEast-Flanders–28May–4June–Beijing,Shanghai,Tianjin,ShijiazhuangChina,thelargesteconomyandthemostdynamicconsumermarketintheworld,isnolongeronlyaproductionorsourcingcountry.
ItisahugemarketforEuropeanproductswhichhaveastellarreputationwiththeconsumingChinesemiddleclass.
ThousandsofFlemishcompaniesareactiveinChina.
2016isanexcellentmomentintimeforyourcompanytoparticipateintheEast-Flanderstrademission,organizedbytheProvinceofEast-Flanders,VokaChamberofCommerceEast-FlandersandFlandersInvestment&Trade,incooperationwiththeFlanders-ChinaChamberofCommerce.
OntheprogrammeareB2Bmeetings,visitstocompanies,portsandindustrialzones.
AlsoplannedaremeetingswithChineseauthoritiesandnetworkingwithChineseandBelgianbusinesspartners.
Wewillvisitfourimportantcities:Beijing,capitalofChina;Shanghai,thebiggestcityofChina;Tianjin,themostimportantportcityinNorthChina;andShijiazhuang,provincialcapitalofHebei.
TheProvinceofEast-Flandersopensdoors.
ThetrademissionisheadedbytheGovernoroftheProvinceofEast-FlandersJanBriersandViceGovernorGeertVersnick.
Formorethan25years,East-FlandershashadcloserelationswiththeChineseProvinceofHebei.
ThepresenceoftheGovernorandViceGovernorwillcertainlyopendoorstoyourcompany!
MoreinformationandsubscriptionThetrademissionisorganizedbytheProvinceofEast-Flanders,VokaChamberofCommerceEast-FlandersandFlandersInvestment&Trade,incooperationwiththeFlanders-ChinaChamberofCommerce.
FCCCNewsletterNo450,March7,2016Page2ADVERTISEMENTANDSPONSORSHIPAdvertisementandsponsorshipopportunities2016TheFlanders-ChinaChamberofCommerceoffersseveraladvertisingandsponsorshipopportunitiesinordertogiveyouractivitiesmoreexposuretopotentialnewclientsandcollaboration.
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sonck@flanders-china.
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flanders-china.
beThesponsoringopportunitiesarethefollowing:1.
SPONSORINGOFACTIVITIESDuringFCCCactivities,youcanputabannerofyourcompanyattheeventanddistributedocumentationofyourcompanyandobtainfreeinvitations.
InvitationsaredistributedviaE-mailandtheFCCCwebsiteandnewsletters.
Theeventsareannouncedindifferentmediachannels.
Thefeeisaccordingtoeachdifferentevent.
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SPONSORINGATTHEFCCCWEBSITEYourlogowillbedisplayedontheFCCChomepagewithclickthroughtoyourownwebsiteortoyourownpageontheFCCC-websiteGOLDENSPONSOR(12months):1.
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SPONSORINGINTHEFCCCWEEKLYNEWSLETTEREveryMonday,theweeklyNewslettersaresentandpostedontheFCCCwebsite.
Numberofrecipientseveryweek:1200executivesdealingwithChinaGOLDENSPONSOR(12months):1.
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SPONSORINGINTHEQUARTERLYE-NEWSLETTERINCHINESEANDENGLISHLANGUAGE:"NEWSFROMTHEHEARTOFEUROPE:FLANDERS"#NewslettersarealsopostedonlineattheFCCCwebsite#1issueeveryquarter#Numberofdirectrecipients:+/-2000ChineseandBelgianbusinessleaders,localauthoritiesandinstitutions#DistributedthroughthedifferentChambersofCommerceinChina#Yourlogoontheelectronicnewsletteranda200-wordprofileofChinaactivitiesGOLDENSPONSOR:1.
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SPONSORINGEU-CHINAACTIVITIESTheEU-ChinaBusinessAssociation(EUCBA)isanassociationofAssociationsintheEuropeanUnioncountriespromotingbusinessrelationsbetweenEuropeanenterprises,institutionsandtheirChinesecounterparts.
ItisanInternationalnon-profitorganisationregisteredinBelgium.
FCCCNewsletterNo450,March7,2016Page3TheFCCCholdsthesecretariat-generaloftheEUCBA.
TheEUCBAorganiseshigh-levelEU-ChinaeventsandalsopublishesaQuarterlynewsbulletin.
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eucba.
orgIfyouareinterestedinadvertisingorsponsoringorneedmoreinformation,pleasesendane-mailto:gwenn.
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beACTIVITIESSUPPORTEDBYFCCCMO*talks:TheworldbecomesChinese–9March2016–BrusselsOnMarch2MO*'sspringissuefocussesonChina'sgrowingroleintheworld.
Dowehavetobeafraidornot:isthetrendbringingusawelcomeandfreshnewwindandnewinvestmentsOntheoccasionofthisisse,MO*isorganizing'MO*talks:theworldbecomesChinese'onWednesday9March2016.
FascinatingspeakersincludeHenkSchulteNordholt(sinologistandauthorof"China&debarbaren"),ChingLinPang(sinologist,antropologistandProfessoratKULeuvenandUAntwerpen),WimPolet(sinologist,HeadInternationalDepartmentIndustrialSciencesKULeuvenandformerDirectorConfuciusinstituutLeuven).
ARepresentativeofteheChineseMissionattheEUhasalsobeeninvited.
JohnVandaele,JournalistofMO*andaChinaSpecialist,willmanagetheevent.
Wednesday,9March2016,19h30,Vlaams-NederlandsHuisdeBuren,Leopoldstraat6,1060Brussel.
Registeratinfo@mo.
beMoreinformationisavailableat:www.
mo.
be/motalks-de-wereld-wordt-chineeswww.
facebook.
com/events/226240827719977/PASTEVENTSSeminar:HowtoPrepareforTradeFairsinChina:SelectionAdvice,NegotiationTipsandIPProtection–2March2016–Eurochambres,BrusselsTheEUSMECentreandtheChinaIPRSMEHelpdeskorganizedahalf-daytrainingseminar,on2ndMarchinBrussels,tolearnallyouneedtoknowaboutpreparingfortradefairsinChina.
ThisseminarwasorganizedwiththesupportoftheEU-ChinaBusinessAssociationandEurochambres.
Duringthisseminar,theEUSMECentre'sexpertRafaelJimenez,alongsideSimonCheetham,TeamLeaderoftheChinaIPRSMEHelpdesk,sharedtheirinsightsonthefollowingtopics:WhattodoinpreparationforatradefairinChinaWhichfairshouldIchoosetoattendinChinaPracticaltipsforbusinessnegotiationinChinaKeyprotectionmeasuresSMEscantakebeforeattendingtradefairsinChinaCollectingevidenceofIPinfringementsFCCCChineseNewYearReception–3February2016–BrusselsOn3FebruarytheFlanders-ChinaChamberofCommerce(FCCC)organizeditsannualChineseNewYearReceptionatKBCBankinBrussels.
Speakersatthiseventwere:MrBertDeGraeve,Chairman,Flanders-ChinaChamberofCommerceHisExcellencyMrQuXing,AmbassadorofthePRCinBelgiumMrGeertBourgeois,Minister-PresidentoftheGovernmentofFlanders,FlemishMinisterforForeignPolicyandImmovableHeritageSpecialthankstoKBCBankatwhichthereceptionwasorganisedandalsoitsgoldensponsor:ZTE,silversponsors:DemeandMaasmechelenVillage.
Picturesoftheeventcanbeviewedonline.
FCCCNewsletterNo450,March7,2016Page4EUCBA:ExclusiveLuncheonwithHerExcellencyMrsYangYanyi,AmbassadorofthePeople'sRepublicofChinatotheEUandHeadoftheChineseMissiontotheEU–3February2016–BrusselsTheEU-ChinaBusinessAssociation(EUCBA)organizedanexclusiveluncheonwithHerExcellencyMrsYangYanyi,AmbassadorofthePeople'sRepublicofChinatotheEUandHeadoftheChineseMissiontotheEUon3February2016inBrussels.
Followinganetworkingcocktail,MrStephenPhilips,ChairmanoftheEUCBA,introducedthespeaker.
AmbassadorYangYanyideliveredthekeynotespeechonthedevelopmentsofEU-Chinarelations.
Mr.
BertDeGraeve,ChairmanoftheFlanders-ChinaChamberofCommerce(FCCC)presentedtheconclusionsoftheevent.
Picturesoftheeventcanbeviewedonline.
EU-ChinaConference:China'sNewNormal:What'sInItForBusinesses–28January2016–BrusselsTheEuropeanUnionChamberofCommerceinChina,theEU-ChinaBusinessAssociationandBUSINESSEUROPEorganizedanexclusivedialoguewiththeEuropeanCommissionerforTradeCeciliaMalmstrm,theEuropeanParliament'sChairforRelationswithChinaJoLeinen,andtheEuropeanChamberChinaPresidentJrgWuttke.
Thiseventtookplaceon28January,2016atThonHotelEUinBrussels.
ThepurposeofthiseventwastotakestockofthemostimportantdevelopmentsintheEU-ChinarelationsandhowthisaffectsEUbusinesses.
FollowinganintroductionbyMrMarkusBeyrer,Director-General,BUSINESSEUROPE,MsCeciliaMalmstrm,EuropeanCommissionerforTradedeliveredakeynotespeechonEU-Chinabusinessrelations.
HerspeechwasfollowedbyaspeechbyMrJrgWuttke,President,EuropeanUnionChamberofCommerceinChinaandanotheronebyMr.
JoLeinen,MemberoftheEuropeanParliamentandChairoftheDelegationforrelationswiththePeople'sRepublicofChina.
FollowingamoderatedpaneldiscussionandQ&A,Mr.
BertDeGraevedeliveredtheclosingremarksonbehalfoftheEU-ChinaBusinessAssociation.
Duringtheevent,representativesfromtheEuropeanChamber'sworkinggroupswereon-sitetoanswerspecificquestionsrelatedtotheirindustrysectors.
TheEU-ChinaBusinessAssociationistheEU-widefederationofbusinessorganisationsintheEUpromotingbusinessrelationswithChina.
TheFlanders-ChinaChamberofCommerceholdsthesecretariate-generaloftheassociation.
FCCCNewsletterNo450,March7,2016Page5ADVERTISEMENTHainanAirlines,yourdirectlinkfromBelgiumtoChinaHainanAirlines,yourdirectlinkfromBelgiumtoChina.
HainanAirlinesisyour5StarAirlineawardedbySkytrax,operatingdirectflightsfromBrusselstoBeijing.
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NPC&CPPCCSESSIONSNPCandCPPCCannualsessionsstartinBeijingTheannualsessionsoftheNationalPeople'sCongress(NPC)–theparliament–andtheChinesePeople'sPoliticalConsultativeConference(CPPCC)–theadvisorybody–startedintheGreatHallofthePeopleinBeijingonMarch5andMarch3respectively.
InhisworkreporttotheNPC,PremierLiKeqiangtoldtheDelegatesthatthetargetforChina'sGDPgrowthwouldbebetween6.
5%and7%.
Lastyearhesetthetargetat"around7%"andtheactualgrowthratewas6.
9%,theslowestratein25years.
Thegovernmentherebyindicatesthatitexpectstheeconomicgrowthratetofurtherdropmoderately.
Defensespendingwouldberaisedby7.
6%toCNY954.
4billion,theslowestincreaseinsixyears.
China'sdefensebudgetroseby10.
1%lastyear.
ThePremierproposedanationalfiscaldeficitof3%atCNY2.
18trillionthisyear,whilethetargetwas2.
3%lastyear.
Theincreaseinthedeficitwouldmainlybeusedtoreducetaxesforenterprisesandsafeguardsocialwelfare.
Theconsumerpriceindex(CPI)targetwassetat3%.
Thegovernmentdidnotproposeaspecifictradegrowthtargetthisyearafteradisappointingperformancein2015inwhichexportsandimportscombinedfell7%inrenminbitermsand8%indollarterms.
Chinavowedtocreatemorethan10millionnewurbanjobsandcaptheurbanregisteredunemploymentrateat4.
5%.
Onthemonetaryside,Chinahastargeted13%growthinthebroadmoneysupplyfor2016,upfromthe12%targetlastyear.
Forthefirsttime,thegovernmentalsoincludedagrowthtargetforoutstandingaggregatesocialfinance–settingitat13%for2016,echoingcommentsbyPeople'sBankofChina(PBOC)GovernorZhouXiaochuanlastmonththatChinawouldleantowardsmonetarypolicyeasing.
ChinaisunlikelytorepeattherecklessdevelopmentoftheFCCCNewsletterNo450,March7,2016Page6pastfiveyears–Chinausedmorecementbetween2011and2013thantheU.
S.
usedintheentire20thcentury.
Ontransportlinks,Chinaplanstoboostitshigh-speedrailwaynetworkto30,000kmby2020.
Italreadyhad19,000kmoftrackbytheendof2015–morethantherestoftheworldcombined.
Evenacross-straitrailwaylinelinkingFuzhouinFujianprovinceonthemainlandandTaipeiinTaiwanisunderconsideration.
TheNPCDelegatesalsoreviewedthedraftofthe13thFiveYearPlan(2016-20).
Thisyearisthefirstyearofthenewplan.
PremierLisaidthatinnovationwastheprimarydrivingforceforthecountry'sdevelopment.
Chinaaimstobecomeaworldleaderinadvancedindustries,suchassemiconductors,andinthenextgenerationofchipmaterials,robotics,aviationequipmentandsatellites.
R&Dspendingwillbeboostedto2.
5%ofGDPinthenextfive-yearperiod,comparedwith2.
1%ofGDPfrom2011to2015.
PresidentXiJinpingpledgedtograntwidermarketaccesstothecountry'sprivatesectorduringapaneldiscussionwithCPPCCDelegates.
Duringthetwo-hourdiscussion,10politicaladvisersmadeproposalsonfinancingsupport,widermarketaccess,lowertaxationandfees,aswellasintellectualpropertyrights.
Thecountryshouldtrytosolvethefinancingdifficultiesfacedbysmallandmedium-sizedenterprisesandprovidethemwith"reliable,effectiveandconvenient"services,Xisaid.
Inthecomingmonths,thegovernmentwillprovidemoresupporttogrowthindustries,suchasinformationtechnology,biotechnologyandnewenergy,inpoliciesandinfinancialincentives,PremierLiKeqiangsaidinameetingwithCPPCCDelegatesthedaybeforehedeliveredhisreportattheNPC.
LialsotoldthemthatthecountryhasachievedmostofthegoalssetinitspreviousFiveYearPlan(2011-15).
Healsopromisedthatthegovernmentwillreleasemoresupply-sidereforminitiativesaimedatcuttingovercapacityandeasingtaxationburdensonenterprises.
WangMin,66,ViceChairmanoftheEducation,Science,CultureandPublicHealthCommitteeofthe12thNationalPeople'sCongress(NPC),wasplacedunderinvestigationforcorruption.
HewasPartySecretaryofLiaoningprovincefrom2009to2015,andheheldthesamepositioninJilinprovincefrom2006to2009.
TheCPPCCwillconcentrateontheimplementationofthe13thFiveYearPlan(2016-20)andkeyeconomicissuessuchassupply-sidestructuralreform,ChairmanYuZhengshengsaidattheopeningsessionattendedbymorethan2,100CPPCCDelegatesinBeijing.
OverathirdofproposalsfromCPPCCNationalCommitteeMembersthisyearfocussedoneconomicissues.
Theymadeup2,098ofthe6,012proposalsdeliveredsincethe2015session.
Another605proposalswereaboutjudicialreformandanti-corruptionefforts,while378addressedculturalissuesandstrengtheningtheadministrationofcyberspaceandnewmedia.
TheChineseeconomyisnotheadingforahardlandingandthecountryisconfidentofachievingareasonablegrowthrate,XuShaoshi,ChairmanoftheNationalDevelopmentandReformCommission(NDRC),saidatanewsconference.
"Weareconfidentandcapableofkeepingtheeconomicgrowthratewithinareasonablerange,"Xusaid.
AUTOMOTIVESomecarmakershavetheirpermitsrevokedChineseauthoritiesrecentlyrevokedtheproductionqualificationsofsomepassengervehiclemakers.
TheMinistryofIndustryandInformationTechnology(MIIT)releasedonitswebsiteonFebruary29alistof13manufacturersofpassengercarsthathavebeenbannedfromproductionbecausetheydidnotapplyfororfailedtopassmandatoryevaluationsfortwoconsecutiveyears.
SomeofthemwereoncefamousinChina,includingShuanghuanAuto.
BasedinHebeiprovince,theautomakerwassuedforcopyingthedesignsofinternationalbrands.
The13carmakershavealllongstoppedproduction.
Thecleanupof"zombie"automakers,whichbeganinearnestaftertheMIIT'ssuspensionof14automakers'qualificationsinNovember,isoneofmanystepsthecentralgovernmenthastakentooverhaultheautoindustry.
"Wehavebeenthelargestcar-producingcountryandthelargestcarmarketforseveralyearsbutourautoindustryisfarfromstrong",MIITMinisterMiaoWeisaid.
ZhangFCCCNewsletterNo450,March7,2016Page7Zhiyong,aBeijing-basedAutoAnalyst,believesthemovewillfacilitatemergersandacquisitions(M&As),theChinaDailyreports.
Itwillalsoopenthesectortonewentrants.
Inrecentyears,Chinahasnotgrantedanynewcarmakingqualifications.
Anumberofcompanieshavefiledapplicationstoproducenew-energyvehiclesandevaluationsareunderway,saidtheMIIT.
Chinawillboostpilotsofparallelvehicleimportsinitsfreetradezones,allowingcarstobeimportedwithoutauthorizationfromcarmakers.
Theprogramisakeymeasuretoboost"supply-sidereforms,"whichincludereducingineffectiveandlow-endsupply.
Customswillstreamlineproceduresandregistrationservicesforparallelimportedvehicleswillbeimproved.
TheChairmenofChineseinternetsearchproviderBaidu,RobinLi,andcarmakerZhejiangGeelyHoldingGroup,LiShufu,haveurgedBeijingtospeedupthedraftingofalegalframeworkforautonomousdrivingtechnology.
Theracetobringtomarketself-pilotingcarswilldependinpartonhowreceptiveregulatorsaretothetechnology.
Geelywillstartmassproductionofahybridvehicleusingitsself-developedpowertrain,movingastepforwardtoachievingitsgreencarambitions.
Geely'sflagshipsedanmodel,EmgrandEC7,willbethefirsttousethenewhybridpowertrain,whichwasdevelopedbyajointventurewithHunan-basedtechnologyfirmCorunNewEnergy.
Thecarmakerplansaninitialproductionrunof5,000unitsforthenewhybridmodel.
FINANCEPBOCcutsreserverequirementratioby50basispointsThePeople'sBankofChina(PBOC)cutthereserverequirementratio(RRR)by50basispointsforallbanksbeginningonMarch1,takingtheratioto17%forthecountry'sbiggestlenders.
Themeasureaimstohelpkeepmarketliquidityatreasonablelevelsandguidestableandappropriatecreditgrowth,accordingtoaPBOCstatement.
China'sforeignexchangereserveshitUSD3.
3trillionbytheendoflastyear,overUSD500billionlessthanayearago,sparkingconcernsoverliquidityshortagesthathavespreadtothecapitalmarket.
Majorstockindexeshavetumbledcontinuallysincethestartofthisyear,withthebenchmarkShanghaiCompositeIndexsheddingnearly30%attheworst.
PBOCGovernorZhouXiaochuanreassuredthemarketduringtheG20FinanceMinistersandCentralBankGovernorsmeetinginShanghaiattheendofFebruarythatChinastillhassomemonetarypolicyspaceandtoolstooffsetthedownsiderisks.
ZhangMing,SeniorEconomistoftheInstituteofWorldEconomicsandPoliticsattheChineseAcademyofSocialSciences(CASS),said:"ThereductionintheRRRisappropriate,asitwillhelpreplenishmarketliquidityaftermonthsofcapitaloutflows.
"TherecouldbeanotherfiveRRRcuts,eachby50basispoints,andevenoneortwointerestratecuts,eachby25basispoints,thisyear,Zhangsaid.
ZhuHaibin,JPMorgan'sChiefChinaEconomist,saidtherecouldbeaninterestratecutof25basispointsandfourRRRcuts,eachby50basispoints,thisyear.
ChinalastcuttheRRRonOctober23,2015,andloweredbenchmarkinterestratesby25basispointsonthesameday,theChinaDailyreports.
ChinadownplaysMoody'sdowngradeofgovernmentbondratingChinadownplayedconcernsofahardlandingofitseconomyafterMoody'sdowngradeditsoutlookonthegovernmentbondrating.
WangGuoqing,SpokesmanfortheChinesePeople'sPoliticalConsultativeConference(CPPCC),saidChina's6.
9%growthinGDPlastyear"stoodheadandshouldersaboveothers"intheworld.
Moreover,indicatorsatthestartoftheyearshowed"warmth"intheeconomy.
"Theoveralleconomicsituationisgood,thereforethereisnoproblemofahardlanding,"Wangsaid.
DoubtsaboutChina'seconomicresilienceroseaftercredit-ratingagencyMoody'sdowngradeditsoutlookonthegovernmentbondratingfrom"stable"to"negative".
Moody'sciteduncertaintyovertheauthorities'capacitytoimplementeconomicreforms,risinggovernmentdebt,andfallingforeignexchangereservesasthereasonsbehindthedowngrade.
TheagencyalsowarneditcouldfurtherdowngradeChina'sratingifitsawaslowingofthereformsneededtosupportsustainablegrowthandtoprotectthegovernment'sbalancesheet.
AcontinuingfallinforeignexchangereservesofUSD762billionoverthepast18months,causedbycapitaloutflows,highlightedpolicy,currencyandFCCCNewsletterNo450,March7,2016Page8growthrisks,Moody'ssaid.
YettheagencyretainedtheAa3ratingongovernmentbonds,notingthatthecountry'ssizablereservesgaveitmoretimetoimplementreformsandgraduallyaddresseconomicimbalances,theSouthChinaMorningPostreports.
BettercoordinationamongregulatoryagenciesneededChinaneedsbettercoordinationandcommunicationamongitsvariousregulatoryagenciestoensurefinancialstability,LiuMingkang,formerChairmanoftheChinaBankingRegulatoryCommission(CBRC)said,addingthatmultipleissuesneedtobeaddressedbeforereformingtheexistingfinancialregulatoryagencies.
HewasrespondingonthesidelinesoftheongoingCPPCCmeetingtoearliermediareportsthatsuggestedthatChinaismullingthecreationofafinancialsuper-regulatorasearlyasthisyear.
PanGongsheng,ViceGovernorofthePeople'sBankofChina(PBOC)andaCPPCCmember,saidthattheChineseauthoritiesarestudyingthereformplanbutthereisnotimetableforit.
ChiFulin,PresidentoftheChinaInstituteforReformandDevelopmentsuggestedmergingthethreecommissionssupervisingthesecurities,bankingandinsurancemarkets.
Kazakhstanwillbuildanoffshoreyuancenter,expandtheyuanclearingnetwork,andextendcooperationwiththeShanghaistockandgoldexchanges.
MoreChinesefinancialinstitutionswillbeencouragedtohelpKazakhstandevelopitscapital,Astana,asaninternationalfinancialcenter.
ChinesecompaniesareexpectedtobethelargestclusterofforeigninvestorswhentheAstanaInternationalFinancialCenter,initiatedin2015,startsfulloperationin2018.
WangJun,AdjunctProfessorofFinanceattheChinaEuropeInternationalBusinessSchool(CEIBS),saidChinaurgentlyneedstodevelopanationalstrategyoninclusivefinance,asystemthatofferstimely,convenientanddifferentiatedfinancialservicestoallindividualsandbusinesses,especiallytolow-incomehouseholds,ruralresidentsandmicroandsmallbusinessesataffordablecosts.
Privateenterprises,especiallysmallandmedium-sizedones,receivedonly30%ofbankloans,althoughtheycontributed60%ofthecountry'sgrossdomesticproduct(GDP)andprovided80%ofemploymentincitiesandtowns.
Theoffshoreyuanstrengthenedtoathree-weekhighonMarch4amidexpectationsoffreshstimulusmeasuresduringthelegislativemeetings,boostingthecurrencytoitsbiggestweeklygainintwomonths.
People'sBankofChina(PBOC)ViceGovernorYiGangsaidthenation'scurrencyandmonetarypolicieswillremainstable.
ChinaLifeInsuranceCoagreedtobuya23.
686%stakeinChinaGuangfaBank(CGB),includinga20%stakefromCitigroupandIBMCredit's3.
686%.
TheacquisitionwillcostChinaLifeatotalofCNY23.
31billion.
TheinsurancegroupwillbecomethesinglelargestshareholderoftheGuangzhou-basedcommerciallender,withitsstakeinthebankincreasingto43.
686%ofthetotal.
Thetransactionisexpectedtocloseinthesecondhalfof2016.
TheequityacquisitionbyChinaLifemayacceleratethebank'sIPOprocess.
AGuangzhoucitycourthassentencedtheheadofoneofChina'slargestfinancialscams–whichraisednearlyCNY10billionfrommorethan230,000victims–tolifeimprisonment.
24peoplewereconvictedofillegallyraisingfundsforthescamduringthedecadeto2012.
Theyhadtargetedmostlyelderlyretailinvestors,frommorethan60citiesin16provinces,promisingthemreturnsofupto47%peryearontheirlifesavings.
Chinahasthehighestadoptionrateintheworldfortechnology-enabledpaymentsystems,accordingtoareportfromthemarketresearchfirmNielsen,basedonasurveyof13,000respondentsin26countries.
Thesurveyshowedthat86%ofChineserespondentssaidtheypaidforonlinepurchasesduringthepastsixmonthsviadigitalpaymentsystemscomparedwithaglobalaverageofjust43%.
About98%oftherespondentsinChinasaidtheyhadmadepurchasesonline.
Chinaisexploringthecreationofamechanismthatwoulduseabandtoguidethecountry'sinterestrates,anapproachaimedatgivingthemarketagreatersayinthefinancialsystem,YiGang,ViceGovernorofthePeople'sBankofChina(PBOC),said.
"Chinaneedstoimprovetheinterestratesystemtoenhancetheguidanceofthemarketratesandtheeffectivenessofmonetarypolicy,"Yisaid.
FCCCNewsletterNo450,March7,2016Page9FOREIGNINVESTMENTQualcommandThunderSoftwaresetupJVinChongqingQualcommhassetupajointventurewithChinesepartnerThunderSoftwareTechnologyCotodeveloptechnologiesusedindrones,virtualrealitygogglesandothersmartdevices.
ThenewJV,namedThundercomm,hasaregisteredcapitalofCNY18.
74million.
Beijing-basedThundersoftwillcontrolnearly82%oftheJV.
TheJVwillbelocatedattheFairyPeachDataValleyinChongqing,whichhasbecomeoneoftheworld'slargestmanufacturingbasesofsmartdevicesinrecentyears.
ZhangShutao,GeneralManagerofThundercomm,saidtheJVwilluseintellectualpatentsfromQualcomm.
FrankMeng,ChairmanofQualcommChina,toldChinaDailythatChinesestartupsaresettoleadtheworldininnovationinanarrayofemergingsectors.
Chinesetechfirmsaremakingtechnologicalbreakthroughsinsteadofwaitingforideasimportedfromoverseascompanies,saidMeng.
MaLongwen,AnalystfromChangjiangSecuritiesCo,saidthenewJVwillgiveanedgetoThundersoftinmanyareas,includingdronemaking,smartautomobilesandVR.
ChinatofurtherlowerentrybarriersforforeigninvestorsChinawilllowertheentrybarrierforforeigninvestorsandspeeduptherevisionofrelevantlaws,SpokesmanfortheMinistryofCommerce(MOFCOM)ShenDanyangsaid.
Chinawillencouragethemtoinvestinthehigh-tech,greenandserviceindustries,wheredomesticsupplyfallsshort,headded.
In2015,ChinaattractedCNY781.
4billioninnon-financialforeigndirectinvestment(FDI),up6.
4%from2014.
ShenalsosaidforeigninvestorscanparticipateinthereformsofChinesestate-ownedenterprises(SOEs)throughmergersandacquisitions(M&As).
"ConsideringChina'slimitedcapacityinhandlingvariousresources,themovebysomeforeigncompaniestakingoverSOEscanhelpinactivatingmarketvitalityandfacilitatingSOEreforms,"hesaid.
ForeigninvestorsspentUSD17.
8billiontotakeoverSOEsinChina,or14.
9%ofthecountry'sCNY781.
3billionFDIin2015.
TheMinistryofCommercesaiditplanstosubmitthedraftofaforeigninvestmentlawtotheNationalPeople'sCongress(NPC),thecountry'slegislativebody,bytheendofthisyeartofurthereaserestrictionsonforeigninvestorsandgrantthemeasieraccesstotheChinesemarket.
InJanuary,China'snon-financialoutboundinvestmentrosetoCNY78.
7billion,almostthreetimestherateinDecemberandariseof18.
2%fromayearearlier.
Ofthecountry'stotaloverseasdirectinvestmentinJanuary,92.
5%camefromsmallerenterprises,up175%fromthesameperiodlastyear.
Accordingtothedraft13thFiveYearPlan(2016-2020),Chinaaimstoswitchfromanemphasisonquantitytoqualityinforeigndirectinvestment(FDI),pledgingtoeaseaccessforoverseasinvestorstoservicesectors,includingarchitecture,auditingandfinance.
Othersectorswhereforeigninvestmentiswelcomearechildren'seducation,elderlycare,insurance,securitiesandbanking.
FOREIGNTRADEChinaremainsworld'slargesttradingnationChinaretaineditspositionastheworld'slargesttradingnationin2016,despitenotreachingitstargetof6%growthinforeigntrade.
China'sforeigntradevolumereachedUSD3.
96billionin2015,down8%year-on-year,butitsforeigntradeingoods,exportvalueandtotalonlineretailsalesstillrankedfirstintheworld.
Thecountry'stotalretailsalesandtradeinservicesalsorankedsecondintheglobalmarket.
CommerceMinisterGaoHuchengsaidthatdespitedouble-digitnegativegrowthinglobaltradelastyear,thedeclineinChina'sexportgrowthratewasfarlowerthanthatofothermajoreconomies.
China'sexportsaccountedformorethan13%oftheinternationalmarket,anincreaseof1percentagepointafterarapidincreaseofitssharein2015,thefastestgrowthinrecentyears.
China'ssurplusoftradeingoodsreachedUSD593billionlastyear,up55%onayear-on-basis,playinganimportantroleinensuringthecountry'sfinancialsecurity.
TradeinservicesreachedUSD713billion,up14.
6%year-on-year.
FCCCNewsletterNo450,March7,2016Page10HEALTHChemicalsinfoodtopconcernforFDAChemicalhazardsarethetopconcernforfoodsafetyinChina–primarilytheabuseofadditivesandexcessiveresiduesofagriculturalchemicalsandveterinarydrugs–buttheAdministrationlacksthecapacityforefficientmanagementandsupervision,accordingtoBiJingquan,DirectorofChina'sFoodandDrugAdministration(FDA).
TheAdministrationhasconductedinspectionsofmorethan40,000batchesoffoodproductsknowntobeatriskforexcessiveresiduesofagriculturalchemicalsandveterinarydrugs,and255werefoundinviolationofstandards.
MACRO-ECONOMYBeijinghasmost"unicorn"techstart-upsafterSiliconValleyBeijingboaststheworld'ssecond-largestnumberofmostvaluabletechstartups.
Thenumberofso-called"unicorncompanies"–techstartupsvaluedatmorethanUSD1billioneach–hasreached40,secondtoSiliconValleyintheUnitedStates,accordingtotheZhongguancunUnicornListreleasedbytheGreatWallEnterpriseInstitute.
TheyaccountforhalfsuchcompaniesinChina,withanaggregatevaluationofUSD146.
2billion,includingthreeworthmorethanUSD10billioneach.
SmartphonemakerXiaomi,valuedatUSD46billion,ranksfirst,followedbygroup-buyingplayerMeituan-Dianping,valuedatUSD18billion.
DidiKuaidi,China'slargestride-hailingapp,valuedatUSD16.
5billion,cameinthird,thereportsaid.
LiuHang,SpokesmanfortheManagementCommitteeoftheZhongguancunSciencePark,estimatesthatwithtechnicalbreakthroughsinbigdataapplication,intelligenthardware,artificialintelligenceandvirtualreality,aseriesofnewunicorncompanieswillemergeinthesefields.
ByDecember,therewere70unicornfirmsnationwide.
Beijingrankedfirstwith40,followedbyShanghai(15),Hangzhou(4)andShenzhen(3).
Lastmonth,alistissuedbyFortunemagazineshowedthenumberofunicorncompaniesgloballyhadincreasedto173,with35inChina,theChinaDailyreports.
Chinaplanstolayoffanestimated1.
8millionemployeesintheironandcoalindustryasitreducesexcessindustrialcapacity.
Inaddition,astheyfaceaslowingeconomy,manycompanieswithoperationaldifficultieswillnotgenerateasmanyjobsasbefore,makingitmoredifficultfornewgraduatesandtheunemployedtofindjobs.
Chinaisplanningtoraisetheretirementageby2022afterafive-yeartransitionalperiod.
Currentlytheretirementageis55forfemaleand60formaleemployees.
Thenumberofpeopleaged16to60fellby4.
87millionto911millionin2015,thefourthconsecutiveyearofdecline.
AccordingtoresearchbytheNationalSurveyandResearchCenteratRenminUniversityofChina,thenumberofstart-upbusinessesper100,000peopleinChinafarsurpassedtheequivalentfiguresintheUnitedStates.
ZhuhaiinGuangdongprovincerankedNo1with2,822newbusinessescreatedper100,000peoplelastyear,whileinMiami,thetopU.
S.
city,thefigurewas247.
6.
TheCenteraddedthatthequalityofinnovationinChinastilllaggedbehindtheU.
S.
Thenumberofnewlyregisteredcompaniesgrewto4.
4millionin2015,a21.
6%year-on-yearincrease.
In2015,thenumberofmigrantresidentslivinginShanghaidroppedforthefirsttimeinthepast15years.
ItwasalsothefirsttimeShanghaiwitnessedadecreaseinitspermanentpopulationsinceChinaadoptedthepolicyofreformandopening-upin1978.
Bytheendof2015,Shanghai'spopulationofmigrantresidentshaddecreasedto9.
8million,comprising40.
6%ofthecity'sroughly24millionpermanentresidents.
TheofficialPurchasingManagers'Index(PMI)fell0.
4pointsfromJanuaryto49inFebruary.
Itwastheseventhconsecutivemonthmanufacturinghadbeenbelow50.
ThemanufacturingPMI'scomponentindexesshowedproductionfellto50.
2lastmonth,downfromJanuary's51.
4.
Neworderslost0.
9pointsto48.
6,stayingbelow50forthesecondstraightmonth.
Thepurchasevolumeofrawmaterialslost1.
1pointsto47.
9,whileemploymentretreated0.
2pointsto47.
6,bothworsethanayearearlier.
Theofficialnon-manufacturingPMI,acounterpartfortheservicesector,fellto52.
7inFebruary,downfrom53.
5amonthearlier.
FCCCNewsletterNo450,March7,2016Page11ThethinktankCaixinInsightGroup-CEBMlauncheditsNewEconomyIndextobettertracktheoverallChineseeconomyduringitsrestructuring.
Itcoversninecategorieswith111sectors.
Theindex,undergoingasoftlaunch,stoodat31.
8inFebruary–measuringtheshareoftheneweconomyinoverallGDP.
Itwas26.
3inJanuary.
Therisewasdrivenbyspendingontechnology,researchanddevelopment.
Chinaisstilldrivingtheworldeconomydespitetheslowdown.
Thecountrycontributedmorethan25%ofeconomicgrowthinthepastyear,accountingfor15%oftheglobaleconomy,accordingtotheInternationalMonetaryFund(IMF).
MERGERS&ACQUISITIONSChinaResourcesacquiresSABMiller'sstakeinCRSnowChinaResourcesBeerhasagreedtobuySABMiller'sstakeinitsCRSnowventureforaless-than-expectedUSD1.
6billion.
ThedealtosellSABMiller's49%CRSnowstakewaswidelyanticipatedbutcamesoonerthanexpected.
ItisthelatestinaseriesofdivestmentsaimedatgettingapprovalforSABMiller'sUSD100billion-plustakeoverbyABInBev.
ChinaResourceshas98breweriesanditsbrandSnowBeerisconsideredthebest-sellingbrandinChina.
In2014,intermsofvolume,SnowBrewerieshada23.
8%marketshare,followedbyTsingtaoBeerat18.
4%,BudweiserAnheuser-BuschInBevat14.
3%,BeijingYanjingBreweryat12.
3%,andCarlsbergGroupat7.
5%,accordingtotheMintelReportExecutiveSummaryofBeerinChina.
Themarketisconsolidatingwiththetopfivecompaniestakingabout75%ofthetotalmarket.
GermanmachinebuilderManzannouncedplanstosellatleasta29.
9%staketoShanghaiElectricGroupCo,withthepossibilityofafulltake-over.
Manz,whichproducesequipmentforthesolarindustryaswellasmachinesformanufacturingsmartphonesandtablets,outlinedplansinDecembertocut174jobs,orabout10%oftheworkforce.
FiguresfrominformationproviderMorningWhistleGroupshowthatprivatecompaniescompleted76.
78%oftheM&Adealslastyear,whilestate-ownedenterprises(SOEs)accountedfor20.
29%.
Thetargetareasweretechnology,media,telecommunications,agriculture,food,energyandmineralresources.
Thatislikelytoremainthesamethisyear,accordingtoanalysts.
Chinese-ownedAMCEntertainmenthasagreedtopurchaseCarmikeCinemasinaUSD1.
1billiondealthatcreatestheworld'slargestmovietheaterchain.
ThemergerwillcombineCarmike's2,954screenswithAMC's5,426,creatingacompanywithmorethan600theaterlocationsacrosstheUnitedStates.
ThepurchasepriceperscreenisUSD376,000.
PEinvestorsinjectedUSD192.
1billioninnewinvestmentsinChinalastyear,markinga169%jumpfromayearearlier,accordingtoareportbyPricewaterhouseCoopers(PwC).
Ariseinthe"neweconomy"andgovernmentsupportforentrepreneurshipweredrivingthemomentum.
Thehigh-technologysectorledinbothdealvolumeandvalue.
Therewere423dealsinthesectorlastyear,up40%fromayearearlier.
REALESTATEPricesofnewhomesincreaseagaininFebruaryThecostofanewhomeroseagainacrossChinainFebruary,theChinaIndexAcademysaidinareport.
Theaveragepriceofanewhomerose0.
6%toCNY11,092persquaremeterfromamonthearlier,aftera0.
42%gaininJanuary.
Nationwide,pricesclimbedin61cities,butfellin38citiesandwereunchangedinone.
Amongthegainers,22citiesregisteredamonth-on-monthgrowthofmorethan1%,anincreaseoffivefromJanuary.
ZhongshaninGuangdongprovincerecordedthebiggestmonthlyriseof5.
63%,followedbySuzhouandShenzhen,whichsawhomepricesrise5.
56%and5.
41%,respectively,fromamonthearlier.
Inthecountry's10largestcities,theaveragecostofanewhomeincreased0.
51%toCNY20,842persqm,comparedwitha0.
54%riseinJanuary.
"Asthemarketisapproachingitstraditionalhighseason,weexpecttoseerobustsentimentamongbothrealestatedevelopersandhomebuyers,withboostingmeasuresbythegovernmentsuchasthecutindownpaymentandaFCCCNewsletterNo450,March7,2016Page12reductionindeedandbusinesstaxescontinuingtotakeeffect,"theAcademysaid.
Onanannualbasis,theaveragepriceofanewhomejumped5.
25%inFebruary.
Differentrealestatepoliciesshouldbeadoptedacrossthecountryaskeycitieshaveseenskyrocketingpropertypriceswhilesalesinsmallercitiesarestillfalling,CPPCCDelegatessuggested.
HomepricesinShenzhenhaveincreased72%inthepast12months,asShanghaiandBeijingarefollowingsuit.
Thepriceofpre-ownedhomesinBeijinghasjumped10%to30%aftertheChineseLunarNewYear.
Guangzhouislikelytobecomethefirsttier-onecityinChinatolifthome-purchaserestrictionsforbuyersfromHongKongandMacao,tospeeduppropertydestockingandboosteconomicgrowth.
Adocumentcontaining11instructionsreleasedbytheGuangdongprovincialgovernmentsaidHongKongandMacaubuyerscouldenjoythesamebenefitsaslocalsin"eligiblecities"intheprovinceaspartofitsplantoclearthestockof160millionsqmofunsoldflats.
Itdidnotidentifytheeligiblecities,butindustryexpertssaidtheybelievedGuangzhouwouldstandahighchancetobeincludedasthecity'shomepriceshadbeenlaggingthoseofothercities.
Shanghai'shomemarkethasshownsignsof"panicbuying",withsomenewprojectssellingoutinaday.
Thecentralgovernmentissuedseveralpoliciesinrecentmonthsaimedatboostinghomesalesinsmallercities,includingcuttingthepropertytransactiontaxandloweringdownpayments.
Mostoftheeasingdoesnotapplytotop-tiercitiessuchasShanghai,whichisoneofonlyfivecitiestostillenforcestricthomepurchaserestrictionslimitingnon-permanentresidentstobuyingjustoneflat.
Shanghaisawhomepricesrise15%year-on-yeartoarecordCNY37,062persqminJanuary.
ADVERTISEMENTHKWJTaxLaw:YourHongKong&MainlandChinaTaxAdvisorWebsite:www.
hkwj-taxlaw.
hkRETAILAdidastoopen3,000morestoresinChinaby2020GermansportswearmakerAdidaswillexpanditsretailnetworkinChinafromthecurrent9,000storesto12,000by2020.
"WithinterestinsportsinChinacontinuingtogatherpace,ournewlyunveiled'CreatingtheNew2020GreaterChina'strategywillfurtherbuilduponourrecentachievementsandleadAdidastobecomeChina'sbestsportsbrandby2020,"saidColinCurrie,ManagingDirectorofAdidasGroupChina.
Thecompanyrecordedan18%growthinsalesinChinalastyear,drivenbytheso-calledperformanceandstyleproducts,accordingtoitsannualreport.
Thecompany'snewfiveyearplanfocusesonproductivityin23keycitiesastheyrepresentpotentiallymorethan50%oftotalbusinessinChina,Curriesaid.
FCCCNewsletterNo450,March7,2016Page13Thecompany'scorebrandsincludeAdidas,Reebok,TaylorMadeandReebok-CCMHockey.
Adidasemploysmorethan3,000peopleinChina.
Thecompany'sChinaoperationsgeneratedsalesworth2.
5billionin2015.
JD.
comtoinvestinhigh-growthbusinessJD.
com,China'ssecond-largestbusiness-to-consumer(B2C)e-commerceservicescompany,aimstofocusoninvestmentinhigh-growthbusinessareasthisyearandimproveitsprofitabilityafterpostingmixedresultsforlastyear.
Thecompanyreporteda58%increaseintotalrevenuelastyeartoCNY181.
28billion,upfromCNY115billionin2014,primarilyduetoincreasesinactivecustomeraccountsandthenumberoffulfilledorders.
Itstotalfulfilledorderslastyearjumped94%to1.
26billion,comparedwith651.
9millionin2014.
Coregrossmerchandisevolume–thetotalvalueofallgoodssoldacrossthee-commerceserviceduringthe12monthstoDecember–climbedtoCNY446.
5billion,up84%year-on-year.
ThatestimateexcludedgoodssoldonthenowdiscontinuedPaipai.
comconsumer-to-consumer(C2C)onlinemarketplace,whichwasclosedbyJD.
comattheendofDecemberduetorampantcounterfeitingproblems.
JD.
com,however,sawitstotallosswidentoCNY9.
4billionlastyear,fromCNY5billionin2014,becauseofhigheroperatingcosts.
Fulfillmentexpenses,whichprimarilyincludeprocurement,warehousing,deliveryandcustomerserviceexpenses,increased73%year-on-yeartoCNY13.
9billion.
Marketingcostsrose93%toCNY7.
7billion,whiletechnologyandcontentspendinggrew88%toCNY3.
5billion.
JD.
com'sstaffissettoreachmorethan150,000thisyear,theSouthChinaMorningPostreports.
ZhangJindong,FounderandChairmanofSuningHoldingsGroup,China'slargestelectronicsretailer,iscalling2016a"yearofopportunities"forfirmsinthesectorasthecountryshiftstowardmoredomesticconsumption.
Despiteaslowingeconomy,Chineseconsumers'onlinespendingonforeigngoodsisexpectedtoremainstronginthenextfiveyears.
MarketresearchfirmMintelforecastthesalesfiguretogrow18%eachyearto2020.
In2015,themarketballoonedbymorethan60%,accordingtoHaitaoRetailing,Mintel'sfirstreportonthetopic.
LegowillopenitslargestretailstoreintheworldneartheShanghaiDisneyResort.
The1,000-square-meterstorewillbelocatedonthemainshoppingstreetoutsideDisneyland,whichisscheduledtoopeninmid-June.
ChinahasenjoyedwhatLegocalleda"highlysatisfactory"34%growthin2015year-on-year.
ItisexpectedthatChinawilljointheUnitedStatesandGermanyasthetopthreelargestmarketsforLegosoon.
STOCKMARKETSProfitsofChiNext-listedcompaniesincreaseTheaveragenetprofitoffirmslistedontheChiNextIndex,China'sNasdaq-styleboardforstartups,grewatitsfastestspeedinfiveyearsin2015.
The500-someChiNext-listedcompaniesrakedinanaveragenetprofitofCNY125millionlastyear,up27.
8%year-on-year.
Theirrevenueonaveragealsoroseatafive-yearhighof29.
4%year-on-year.
Atotalof322companiesreportedincreasedprofits,accountingfor65%ofthetotal,while173firmssawdeclines.
Thepercentagesofcompanieswithgainsversusthosewithlossesweresimilartothenumbersin2014.
Amongthegainersin2015,ninewitnessedadramaticsurgeinnetprofitsofmorethan500%.
TheyincludeEastMoney,NationzTechnologiesandEDANInstruments.
Atotalof71companiesreportedtheirprofitsmorethandoubledlastyear,includingBaofengTechnologyCo,AnhuiShengyunMachineryCoandJinlongMachinery&ElectronicsCo.
Theinternetindustryreportedprofitgrowthof146%year-on-yearin2015.
ThedatashowedthegrowthenginehassteadilymovedfromtraditionalsectorstoemergingindustriesasChinapushestorestructureitseconomy,theShanghaiDailyreports.
TheChinaSecuritiesRegulatoryCommission(CSRC)announcedthatChina'sthirdnationalequitymarketwilldivideitslistedcompaniesintotwomarketsfromMay,amoveaimedatmeetingtherequirementsofsmallandmedium-sizedenterprisesandtoimproveefficiency.
TheNationalEquitiesExchangeandQuotations(NEEQ)willseparatethecompaniesintoinnovationmarketandbasicmarket,accordingtoZhangFCCCNewsletterNo450,March7,2016Page14Xiaojun,CSRCSpokesman.
TheNEEQortheNewThirdBoardispopularamongmicro,smallandmedium-sizedfirms.
Thereare5,878companieslistedonthemarket.
ChinesemainlandstocksralliedthemostsinceNovemberonMarch2,3and4ledbypropertyandbuildingmaterialcompanies,asgovernmentpoliciesaimedattherealestatesectoreaseduncertaintyandmoreinvestorspouredfundsintotheA-sharemarket.
OnMarch2,thebenchmarkShanghaiCompositeIndexroseby4.
26%tocloseat2,849.
68points,thebiggestgainsinceNovember4.
TheShenzhenComponentIndexincreased4.
77%,whilethestartupindexChiNextclimbedby4.
27%.
GuotaiJunanSecuritieshasrelaxedconditionsonitsstocklendingandmargintrading.
Itraisedtheaverageconversionrateformargintradingandstocklendingto56.
2%forsharetransactionsinblue-chipandgrowthcompanieswithstableperformances.
Thecurrentmaximumconversionrate,accordingtoregulations,is70%.
Itisthefifthbrokeragetorelaxmargintradingandstocklendingconditions.
TRAVELAirbushashighhopesfornewA330completioncenterAirbusexpectsitsnewChinaA330completioncenterinTianjintodeliverajetpermonthstartingin2017,risingtotwopermonthinthefollowingtwoyears.
AirbussaiditexpectsChina'saviationmarkettoprovidedemandfor5,400newairplanesoverthenext20years.
TheEuropeanplanemakerisalsostudyingifitshouldincreasetheproductionrateatitsA320assemblylineinTianjin.
AirbussetuptheA320finalassemblylinein2008,whichislocatedadjacenttothenewcompletionanddeliverycenterfortheA330wide-bodyjet.
ClubMéditerranéePresidentHenriGiscardd'EstaingsaidChinesetouristsarechangingthewaytheytaketheirholidaysandswappingquantityforquality.
"Touristsswapsightseeinginmultiplecitiesforalonger-termstayinonelocation.
ThisisamassivechangeandagreatopportunityforClubMed,"hesaid.
ClubMedhasabout80resortsinmanycountries,includingfourinChina,whichGiscarddescribedasitssecond-largestmarket.
HepredictedthatClubMedwouldhavearound200,000guestfrommainlandChina,HongKongandTaiwanthisyear.
ChinesebillionaireWangJianlin,ChairmanofDalianWandaGroup,andpartnercompanies,plantoinvestmorethan3billioninaretailandleisuredevelopmentprojectoutsideParistocompetewithDisneyland.
EuropaCitywillbebuilt10kmnortheastofParisby2024.
ItwillbethebiggestsingleinvestmentprojectinEuropetodate,includingathemepark,showstage,hotel,retailstoresandconferencecenters.
Theproject,whichspansmorethan80hectares,willalsoprovideabout20,000jobsduringconstructionand14,000afteritopens.
ChinaandtheUnitedStateslaunchedtheU.
S.
-ChinaTourismYear2016ataceremonyinBeijing.
Itaimstoincreasetravelandtourismbetweenthetwocountriesbyenhancingthetravelexperience,increasingtravelers'culturalunderstandingandexpandingtheappreciationofnaturallandscapes.
"In2015,totalbilateralvisitssurpassed4.
75million.
Wehopethenumberwillsurpass5millionthisyear,"saidLiJinzao,ChairmanoftheChinaNationalTourismAdministration(CNTA).
Chinahasestablishedastate-ownedconglomeratetodevelopaircraftengines,amovethatexpertssaywillextensivelyboostthecountry'saviationindustry.
CaoJianguowasappointedChairmanoftheAircraftEngineCorpofChina.
HeisaformerGeneralManagerofChinaAerospaceScienceandIndustryCorp.
AtleastthreeaviationenginecompaniesunderAVIC–SichuanChengfaAeroScienceandTechnology,AVICAviationEngineCorpandAVICAero-EngineControls–willbemergedintothenewcompany.
HNAGroupandAccor,Europe'sbiggesthoteloperator,areamongpotentialbiddersforCarlsonRezidorHotelGroup,whichownstheRadissonandParkPlazabrands.
AsalecouldbeworthaboutUSD2billion,andadealcouldbedoneassoonasthemiddleoftheyear.
HNAHospitalityhasbecomeoneofChina'sbiggesthotelcompanieswithmorethan90hotelsin30cities.
FCCCNewsletterNo450,March7,2016Page15ONE-LINENEWSBrazilianstateenergyfirmPetróleoBrasileiro,whichisstrugglingtofixitstroubledfinancesamidthecrudepricefall,saiditobtainedaChineseloanuptoUSD10billioninexchangeforsupplyingpetroleumtoChinesecompanies.
ChinesePremierLiKeqianghasreceivedJacobLew,U.
S.
TreasurySecretaryandSpecialRepresentativeofU.
S.
PresidentObamainBeijing.
ChinesePresidentXiJinpingwillmeetObamaatthefourthNuclearSecuritySummitonMarch31andApril1inWashingtonDC.
TheChineseandU.
S.
leaderslastmetattheParisClimateSummitinDecember.
China'sfirstlunarlanderhasbeenoperatingonthemoonforovertwoyears,thelongesttimeforanactiveprobe.
Chang'e-3hasexceededitsoperationallifeofoneyearandhasbeeninservicefor15extramonthssincelandingonthemoononDecember14,2013,saidYePeijian,ChiefScientistwiththeChang'e-3program.
QUOTESOFTHEWEEK"Chinawillfacemoreandtougherproblemsandchallengesinitsdevelopmentthisyear,sowemustbefullypreparedtofightadifficultbattle.
[…]Wewillnotbedauntedbytheseproblemsandchallenges.
Thereisnodifficultywecannotgetbeyond.
"ChinesePremierLiKeqianginhisGovernmentWorkReporttotheNationalPeople'sCongress(NPC),March5,2016.
"TheChineseeconomywilldefinitelynotseeahardlanding.
Pleaserelax,suchapossibilitydoesn'texist.
"XuShaoshi,ChairmanoftheNationalDevelopmentandReformCommission(NDRC),atapressconferenceinBeijing,March6,2016.
YourbannerattheFCCCwebsiteornewsletterCompaniesinterestedinpostingabanner/anadvertisementontheFCCCwebsite,FCCCweeklynewsletterorbi-FCCCNewsletterNo450,March7,2016Page16weeklysectoralnewslettersarekindlyinvitedtocontacttheFCCCat:info@flanders-china.
beOrganisationandfoundingmembersFCCCPresident:Mr.
BertDeGraeve,ChairmanoftheBoard,NVBEKAERTSAVice-President:Mr.
StefaanVanhooren,PresidentAgfaGraphics,MemberoftheExecutiveCommitteeoftheAgfaGevaertGroup,NVTHEAGFA-GEVAERTGROUPSASecretaryandTreasurer:WimEraly,SeniorGeneralManager,NVKBCBankSAExecutiveDirector:Ms.
GwennSonckMembersoftheBoardofDirectorsandFoundingMembers:Mr.
BertDeGraeve,ChairmanoftheBoard,NVBEKAERTSAMr.
JozefDeMey,ChairmanoftheBoard,NVAGEASSAMrPhilippeVandeuren,Legal&CorporateAffairsDirectorBenelux&France,NVABINBEVMr.
CarlPeeters,CFO,NVBARCOSAMr.
JohanVerstraete,Vice-PresidentMarketing,Sales&ServicesWeavingSolutions,NVPICANOLSAMr.
LucMaton,GeneralManagerAsiaRegion,NVAHLERSSAMr.
PhilipHermans,DirectorGeneral,NVDEMESAMr.
PhilippeVanDerDonckt,DirectorBusinessDevelopment,NVUMICORESAMr.
WimEraly,SeniorGeneralManager,KBCBankSAMembershipratesfor2016(excl.
21%VAT):SMEs:385Largeenterprises:975Contact:Flanders-ChinaChamberofCommerceOffices:Ajuinlei1,B-9000Gent–BelgiumNewtelephoneandfaxnumbers:Tel.
:+32/9/269.
52.
46–Fax:++32/9/269.
52.
99Registeredoffice:ZenithBuilding,KoningAlbert-IIlaan37,1030BrusselsE-mail:info@flanders-china.
beWebsite:www.
flanders-china.
beShareyourstory:Tosendyourinputforpublicationinafuturenewslettermailto:info@flanders-china.
beThisnewsletterisrealizedwiththesupportofFlandersInvestment&Trade.
TheFCCCNewslettersareeditedbyMichelLens,whoisbasedinBeijingandcanbecontactedbye-mailmichel.
jc.
lens@gmail.
com.
Disclaimer:theviewsexpressedinthisnewsletterarenotnecessarilythoseoftheFCCCoritsBoardofDirectors.
FCCCNewsletterNo450,March7,2016Page17
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