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Apple Opens Second Store in China Apple Opens Second Store in China(0)

Several hundred people lined up outside a 40-foot cylindrical glass wall that contains the Apple logo at the 1,500-square-meter store in the Pudong district of Shanghai, China?s financial hub, before it opened at 10 a.m. local time.

Apple is expanding its network to reach more customers in China, where its sales trail Nokia and Lenovo, and said this week it plans ?many? more Apple stores for China. The company?s first China store opened in Beijing in July 2008.

Unlicensed distributors sold more than 2 million iPhones on a so-called gray market, according to Sandy Shen, an analyst at Gartner Inc. in Shanghai. China Unicom (Hong Kong) Ltd., the only authorized Chinese carrier offering the smartphone, sold fewer than 1 million, she said.

Source : Konaxis

China Appliance Makers China Appliance Makers(0)

Guangdong Galanz Enterprise Co., the world?s largest microwave-oven maker, will miss its earlier full-year profit estimate because of the yuan?s appreciation and rising labor costs, the paper said, citing the company?s export director Jackie Liu. Almost 60 percent of the company?s output is exported and labor costs have risen 50 percent, he said.

Galanz is now seeking export prices based on an exchange rate of 6.77 yuan to the U.S. dollar from a previous 6.83 yuan, he said.

Haier Group Co. may increase prices to offset the pressure of currency appreciation, the English-language newspaper said, without citing anyone.

Source : Konaxis

Railway China Pakistan Railway China Pakistan(0)

The move suggests that Chinese leaders are seriously considering plans to connect Pakistan with rail that would run through the difficult terrain near the Karokoram Highway, which connects Khunjerab Pass with Chinese towns including Kashgar. Indian strategic experts see the proposed railway plan as a serious military infrastructure close to the Indian border, sources said.

Zardari on Wednesday told a group of officials from the China Northern Railways Corporation that Pakistan was keen to build several new lines for access to the Central Asia, West Asia and Chinese markets. He requested CNR to form a consortium with Pakistan Railways to give shape to the plans.

The announcement makes Kashgar in Northwest China’s Xinjiang Uygur Autonomous Region, the sixth special economic zone in China. This will mean preferential policy support for development of new industries in the city. This will mean a growing market for Pakistani exports.

Source : Konaxis

China Meat Giant NZ Firms China Meat Giant NZ Firms(0)

The deal is the first agricultural contract to emerge from the free trade agreement with China and was confirmed during last month’s Chinese delegation to New Zealand.

New Zealand companies FoodCap and Te Mania Livestock will sign a co-operation agreement with Kerchin Wednesday in Beijing. Prime Minister John Key and Chinese Premier Wen Jiabao are expected to attend.

The deal will open the way for FoodCap to establish distribution plants in key parts of China and the collaboration with Te Mania Livestock could improve the beef breeding stock of Kerchin’s herd in Inner Mongolia.

It will also open the door for New Zealand meat, such as lamb, venison and beef, to be exported to complement the Chinese meat industry.

FoodCap claims its patented technology can offer benefits, including food safety and security, traceability, improved meat yields, reduced handling and packaging costs and improved environmental impacts.

FoodCap monitors the temperature of the products to ensure they remain fresh and to a standard of high food hygiene.

Te Mania has been breeding Angus cattle for more than 80 years.

Source : Konaxis

China Must Keep Stable Growth Of Foreign Trade China Must Keep Stable Growth Of Foreign Trade(0)

Wang made the comments just over two weeks after Beijing ended the yuan’s de facto peg to the dollar and pledged to allow greater flexibility in the Chinese currency’s exchange-rate. China is scheduled to issue trade data for June on Saturday.

Wang said China will create positive conditions for companies engaged in external trade. He also said trade policies should take into account changes in global conditions and the situation of local firms, according to a statement posted on the website of the central government.

Source : Konaxis

China Manufacturing Slows Again China Manufacturing Slows Again(0)

The Purchasing Managers? Index fell to 52.1 from 53.9 in May, the Federation of Logistics and Purchasing said in an e-mailed statement Wednesday.

The figures indicate Premier Wen Jiabao?s government is succeeding in tempering an expansion that hit an 11.9 percent annual pace in the first quarter, which threatened to inflate consumer and asset prices. Signs of the slowdown have unsettled investors around the world because limited demand in advanced economies has left global growth reliant on emerging markets, led by China.
An output index fell to 55.8 in June from 58.2 in May, Wednesday?s report showed. A measure of new orders slid to 52.1 from 54.8 and an export-order index dropped to 51.7 from 53.8. A measure of input prices decreased to 51.3 from 58.9, the biggest fall in the 11 sub-indexes.

The manufacturing index, released by the logistics federation and the Beijing-based National Bureau of Statistics, covers more than 730 companies in 20 industries, including energy, metallurgy, textiles, automobiles and electronics.

Economic growth is moderating, a rebound in exports is weakening, and slower domestic demand is leading to a build-up of finished-goods inventories, the federation said in a separate statement on its website. Industrial production is entering a ?light season? and the output of heavy energy users such as metal and oil processers contracted last month, the federation said.

Source : Konaxis

Australian Wine Market Share in China Australian Wine Market Share in China(0)

The industry expects the Chinese market to become its biggest customer by 2015.

It is hoped the move will capitalise on the already strong success of Australian wines in China. Local vintners have seized 20 per cent of the market for imported wine, second only to France, and sales are being led by traditionally strong brands such as Penfolds and Jacobs Creek.

The industry market body Wine Australia, also known as the Australian Wine and Brandy Corporation, will unveil its offshore brand “A+” at Australia’ s Shanghai Expo pavilion in Wednesday?s evening.

Ten local winemakers will show off their best drops at a gala dinner and after that they will visit Beijing and the southern metropolis Guangzhou. As part of the program, Wine Australia is setting up offices in Beijing, Shanghai and Hong Kong.

Wine Australia’s communications and marketing chief Lucy Anderson will shift to Hong Kong to head the Asian section of the group.

Australian wine exports to China are expected to grow up to 50 per cent this year and will be worth as much as $200 million.

The new marketing push is aimed at positioning Australia as a producer of high-quality wines rather than cheap quaffing plonk.

Source : Konaxis

Rooftop Solar Power Plant Jiangsu Rooftop Solar Power Plant Jiangsu(0)

The 160 million-yuan ($24 million) project in Wood Industrial Park in Dafeng port is scheduled to be commissioned by November. It is the first phase of a 10-megawatt, 350 million-yuan plant, according to Xinhua.

The project is expected to generate 6.2 gigawatt hours of power and reduce 5,128 tons of carbon emissions.
China Datang Renewable Power, a subsidiary of Datang, recently secured approval from the National Energy Administration for an initial public share offering in Hong Kong.

Source : Konaxis

China Trade with Canada China Trade with Canada(0)

Hu made his remarks during a meeting with Canadian Prime Minister Stephen Harper, whose Conservative government is trying hard to boost ties with Beijing.

The Canadian government said later that China had opened its market to Canadian beef in a staged process. Canada is the first country affected by BSE, commonly known as mad cow disease, to regain access to the Chinese market for beef.

Under the deal announced on Thursday, Canada said China would initially open its markets to Canadian boneless beef, derived from animals under 30 months old, as well as beef tallow for industrial use.

Canada, which sends 75 percent of all exports to the United States, is eager to diversify into other markets to offset weak demand from its main customer.

As China’s energy consumption booms, it is looking to Canada as a stable supplier of resources, and Chinese companies over the past year have begun increasing their investment in Canada’s oil sands.

In a separate deal announced on Thursday, Encana Corp, Canada’s largest natural gas producer, and state-owned China National Petroleum Corp agreed to negotiate a joint venture to develop the Canadian company’s shale-gas properties in northern British Columbia.

Canadian miner Cameco Corp said it had struck a framework agreement that could lead to supplying uranium to plants under construction by China Guangdong Nuclear Power Holding Co.

Source : Konaxis

China Yuan Reform China Yuan Reform(0)

China’s trading partners are anxious for Beijing to spell out how quickly it will let the yuan rise after it said on Saturday that it was ending the currency’s 23-month-old peg to the dollar.

Some leaders at this weekend’s Group of 20 summit in Toronto might even want China to produce a schedule of sorts, Canadian Finance Minister Jim Flaherty said on Monday.

But Foreign Ministry spokesman Qin Gang said Beijing would act as it saw fit and would not be rushed.

Qin did not give a direct answer when asked whether President Hu Jintao would discuss the yuan in Toronto, but he noted that previous G20 summits had not singled out individual currencies.

Source : Konaxis

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