Tuesday, January 29, 2008
ABG Signed Agreement with the Law Offices of SSJ
ABG and the Law Offices of S.S.J. in Los Angeles, California, have reached a new marketing agreement. ABG will fully manage SSJ's marketing and promotion campaign to targeted audience and areas.
Sunday, January 13, 2008
China Seminar at Parkland Business Developement Center
ABG and Parkland College Business Development Center have reached an agreement in sponsoring a Doing Business China seminar in Spring. The date and schedule will soon be set. The seminar will benefit Central Illinois companies that are looking into business opportunities in Greater China.
Saturday, January 5, 2008
中国海外并购高潮迭起
2007年是中国对外投资的重要一年，坐拥1万4千亿美元外汇储备的中国继续执行鼓励企业“走出去”的战略，与此同时，今年下半年出现的全球信贷紧缩以及中国宏观经济失衡和资源瓶颈的问题也推动中国企业加速海外投资的步伐。
随着中国投资有限公司斥资50亿美元，收购美国第二大投资银行摩根斯坦利少数股权交易的敲定，2007年已成为中国经济海外扩张具有划时代意义的一年，中国公司和政府在海外并购的投资额首次超过外国公司并购中国企业的投资。
*292亿对215亿*
最近几年来，中国海外直接投资的步伐不断加快，2005年为123亿美元，2006年达到161亿美元。华尔街日报引述的统计数字显示，2007年迄今为止，中国国有和民营企业连同国家主权基金共斥资292亿美元收购海外公司，而世界其他地区的企业收购中国公司的投资额为215亿美元。
香港经济导报惊叹中国经济海外扩张的势头，称2007年为中国资金出海的元年。报道指出，按照这种增长势头，10年之内，中国在海外市场的直接投资金额将和日本不相上下。
*多路收购 钱进海外*
纵观2007年中国海外并购的走向，金融、制造业和能源企业是海外投资的急先锋。
中国国有石油公司通过油田开发、输油管道和炼油项目合同继续在中亚、中东和非洲收购能源资产，其中最大的手笔要算今年10月中石油投资41.8亿美元，从加拿大跨国公司手中成功收购哈萨克斯坦的PK石油公司的全部股权。官方媒体把这一收购案看作是中国海外能源收购接连受挫之后的一个突破。
制造业是中国企业海外扩张的主力军，占2007年中国海外直接投资的53.4%。今年年初，中国电信业巨头中国移动公司斥资2.84亿美元，从瑞典跨国公司手中收购了巴基斯坦移动电讯商PAKRE近90%的股权。8月份，中国沈阳的北方重工集团以绝对控股方式，成功并购德国维尔特控股集团公司和法国NFM公司，从而拥有世界隧道掘进机知名企业的控股权。
最引人注目的是中国金融业今年下半年开始的海外收购狂潮。7月，中国国家开发银行投资1千亿人民币收购英国巴克莱银行7.7%的股权。10月，中国工商银行投资423亿元人民币收购南非最大银行标准银行20%的股份，成为这家银行最大的股东。
与此同时，中国民生银行投资近3亿美元，购入美国联合银行9.9%的股权；中信证券公司与华尔街投资银行贝尔斯登宣布相互投资持股，各出资10亿美元，组成各占50%股权的合资公司。11月，中国平安保险公司投资18.1亿欧元，收购比利时富通银行4.18%的股份。12月，主权财富基金中国投资有限公司向美国投资银行摩根斯坦利注资50亿美元，换取不超过9.9%的股权，把中国金融业的海外并购推向高潮。
*趁机大买廉价金融资产*
美国亚历桑那大学经济系教授约瑟夫.布拉达在接受美国之音采访时表示，中国金融业在西方发达国家先后出现次级房贷危机和信贷紧缩现象之后，趁机大举收购廉价的金融资产，构成2007年中国海外收购活动中最突出的特点。
“我们目前经历的和次级房贷有关的金融危机正在引起反应。看看包括中国资金在内的外国投资的意向就会知道，它们正在大举收购西方因信贷危机而受到冲击的廉价金融资产。我们有理由看到目前乃至今后一段时期，中国资本将大量进入西方金融市场，包括大型国际银行。”
大多数分析人士认为，目前国际信贷紧缩给中国金融业的海外扩张提供了一个契机，但是推动中国资本走向海外的主要动力还是来自中国内部的需要。资料显示，从各国发展情况来看，人均GDP超过三千美元之后，对外直接投资就会进入一个快速发展阶段。现在中国人均收入接近2千5百美元，外汇储备超过1万4千亿美元，正处于资本输出的起步阶段。
*一举多得*
美国约翰霍布金斯大学高级国际研究学院戴维.蓝普顿对美国之音表示，中国热衷于海外直接投资是多种原因促成的。
“首先，中国希望开发自己的名牌产品，在某种情况下，收购那些已经建立起自己品牌信誉的外国公司是一个捷径。其次，中国希望获得先进技术，通过收购外国公司或者获得部份股权，中国就可以借此获取它所需要的技术，尤其是管理经验。最后，海外直接投资也使得中国能够更有效地利用自己庞大的外汇储备。”
*增幅大 手笔大*
根据联合国最近发布的“世界投资报告”，去年中国海外直接投资占全球并购总量的2.7%，名列世界第13位。按照中国经济规模来衡量，这还处于刚刚起步的阶段。但是不容忽视的是，尽管份额不大，但是过去4 年中国对外直接投资却以每年平均60%的速度增长，并且投资规模越来越大。2007年，中国5大对外投资项目的平均金额为31亿美元，而外国对华项目的投资平均金额仅为2.02亿美元。
随着中国投资有限公司斥资50亿美元，收购美国第二大投资银行摩根斯坦利少数股权交易的敲定，2007年已成为中国经济海外扩张具有划时代意义的一年，中国公司和政府在海外并购的投资额首次超过外国公司并购中国企业的投资。
*292亿对215亿*
最近几年来，中国海外直接投资的步伐不断加快，2005年为123亿美元，2006年达到161亿美元。华尔街日报引述的统计数字显示，2007年迄今为止，中国国有和民营企业连同国家主权基金共斥资292亿美元收购海外公司，而世界其他地区的企业收购中国公司的投资额为215亿美元。
香港经济导报惊叹中国经济海外扩张的势头，称2007年为中国资金出海的元年。报道指出，按照这种增长势头，10年之内，中国在海外市场的直接投资金额将和日本不相上下。
*多路收购 钱进海外*
纵观2007年中国海外并购的走向，金融、制造业和能源企业是海外投资的急先锋。
中国国有石油公司通过油田开发、输油管道和炼油项目合同继续在中亚、中东和非洲收购能源资产，其中最大的手笔要算今年10月中石油投资41.8亿美元，从加拿大跨国公司手中成功收购哈萨克斯坦的PK石油公司的全部股权。官方媒体把这一收购案看作是中国海外能源收购接连受挫之后的一个突破。
制造业是中国企业海外扩张的主力军，占2007年中国海外直接投资的53.4%。今年年初，中国电信业巨头中国移动公司斥资2.84亿美元，从瑞典跨国公司手中收购了巴基斯坦移动电讯商PAKRE近90%的股权。8月份，中国沈阳的北方重工集团以绝对控股方式，成功并购德国维尔特控股集团公司和法国NFM公司，从而拥有世界隧道掘进机知名企业的控股权。
最引人注目的是中国金融业今年下半年开始的海外收购狂潮。7月，中国国家开发银行投资1千亿人民币收购英国巴克莱银行7.7%的股权。10月，中国工商银行投资423亿元人民币收购南非最大银行标准银行20%的股份，成为这家银行最大的股东。
与此同时，中国民生银行投资近3亿美元，购入美国联合银行9.9%的股权；中信证券公司与华尔街投资银行贝尔斯登宣布相互投资持股，各出资10亿美元，组成各占50%股权的合资公司。11月，中国平安保险公司投资18.1亿欧元，收购比利时富通银行4.18%的股份。12月，主权财富基金中国投资有限公司向美国投资银行摩根斯坦利注资50亿美元，换取不超过9.9%的股权，把中国金融业的海外并购推向高潮。
*趁机大买廉价金融资产*
美国亚历桑那大学经济系教授约瑟夫.布拉达在接受美国之音采访时表示，中国金融业在西方发达国家先后出现次级房贷危机和信贷紧缩现象之后，趁机大举收购廉价的金融资产，构成2007年中国海外收购活动中最突出的特点。
“我们目前经历的和次级房贷有关的金融危机正在引起反应。看看包括中国资金在内的外国投资的意向就会知道，它们正在大举收购西方因信贷危机而受到冲击的廉价金融资产。我们有理由看到目前乃至今后一段时期，中国资本将大量进入西方金融市场，包括大型国际银行。”
大多数分析人士认为，目前国际信贷紧缩给中国金融业的海外扩张提供了一个契机，但是推动中国资本走向海外的主要动力还是来自中国内部的需要。资料显示，从各国发展情况来看，人均GDP超过三千美元之后，对外直接投资就会进入一个快速发展阶段。现在中国人均收入接近2千5百美元，外汇储备超过1万4千亿美元，正处于资本输出的起步阶段。
*一举多得*
美国约翰霍布金斯大学高级国际研究学院戴维.蓝普顿对美国之音表示，中国热衷于海外直接投资是多种原因促成的。
“首先，中国希望开发自己的名牌产品，在某种情况下，收购那些已经建立起自己品牌信誉的外国公司是一个捷径。其次，中国希望获得先进技术，通过收购外国公司或者获得部份股权，中国就可以借此获取它所需要的技术，尤其是管理经验。最后，海外直接投资也使得中国能够更有效地利用自己庞大的外汇储备。”
*增幅大 手笔大*
根据联合国最近发布的“世界投资报告”，去年中国海外直接投资占全球并购总量的2.7%，名列世界第13位。按照中国经济规模来衡量，这还处于刚刚起步的阶段。但是不容忽视的是，尽管份额不大，但是过去4 年中国对外直接投资却以每年平均60%的速度增长，并且投资规模越来越大。2007年，中国5大对外投资项目的平均金额为31亿美元，而外国对华项目的投资平均金额仅为2.02亿美元。
Saturday, December 15, 2007
China Calls for Cooperation in Trade and Investment with U.S.
China and the United States need to strengthen cooperation in commerce and trade and solve disputes through dialogue, Vice-Minister of Commerce Chen Deming said in Beijing on Wednesday. Chen made the remarks at a press briefing during the Third China-U.S. Strategic Economic Dialogue (SED), which began on Wednesday and will run through Thursday.
The two countries could reduce friction by expanding trade and increasing investment, said Chen. He praised the Sino-U.S. Joint Commission on Commerce and Trade, which concluded its 18th meeting on Tuesday, saying that it had served as an effective venue for bilateral negotiation.
Chinese data show that bilateral trade volume had risen from less than 2.5 billion U.S. dollars annually in the late 1970s, when China and the United States established diplomatic relations, to 262.68 billion U.S. dollars in 2006.
China has been the fastest-growing export market for the United States for five straight years and is anticipated to become the third largest buyer of U.S. goods this year, after Canada and Mexico.
Chen also urged the world's largest developing and developed countries to jointly tackle new challenges from globalization, which he said include unbalanced development among different regions, expanding income gaps and uneven industrial development. The joint efforts include maintaining a stable currency and the steady development of the domestic economy, he said.
The two countries could reduce friction by expanding trade and increasing investment, said Chen. He praised the Sino-U.S. Joint Commission on Commerce and Trade, which concluded its 18th meeting on Tuesday, saying that it had served as an effective venue for bilateral negotiation.
Chinese data show that bilateral trade volume had risen from less than 2.5 billion U.S. dollars annually in the late 1970s, when China and the United States established diplomatic relations, to 262.68 billion U.S. dollars in 2006.
China has been the fastest-growing export market for the United States for five straight years and is anticipated to become the third largest buyer of U.S. goods this year, after Canada and Mexico.
Chen also urged the world's largest developing and developed countries to jointly tackle new challenges from globalization, which he said include unbalanced development among different regions, expanding income gaps and uneven industrial development. The joint efforts include maintaining a stable currency and the steady development of the domestic economy, he said.
UA Flight from Shanghai Evacuated in Chicago
A United Airlines flight from Shanghai were evacuated on the runway of the O'Hare International Airport of Chicago, Illinois, Friday, after smoke was detected in the cabin. The UA Flight 836, with 258 passengers and 15 crew members on board, was evacuated after the pilot reported an emergency in the cabin, the US television broadcast company CBS News reported. The pilot reported the emergency at 3:45 PM (2145 GMT) and the plane landed at 4 PM (2200 GMT).
The passengers slid down the emergency chutes and were taken by bus to the terminal. One passenger complained of back pain and was transported to hospital, said Chicago city aviation spokesman Gregg Cunningham. The captain of plane decided to order an emergency evacuation because smoke had been reported in the passenger cabin a few minutes before the aircraft landed, said UA spokeswoman Megan McCarthy. The runway on which the plane landed was closed for 24 minutes, but there was no significant impact to airport operations.
The Chicago Fire Department was called to the scene because of the smoke reports, but the cause of the smoke is not known yet. The airline said they will conduct a complete investigation.
The passengers slid down the emergency chutes and were taken by bus to the terminal. One passenger complained of back pain and was transported to hospital, said Chicago city aviation spokesman Gregg Cunningham. The captain of plane decided to order an emergency evacuation because smoke had been reported in the passenger cabin a few minutes before the aircraft landed, said UA spokeswoman Megan McCarthy. The runway on which the plane landed was closed for 24 minutes, but there was no significant impact to airport operations.
The Chicago Fire Department was called to the scene because of the smoke reports, but the cause of the smoke is not known yet. The airline said they will conduct a complete investigation.
Thursday, December 13, 2007
China, U.S. Sign Agreement on Food Safety
China and the United States signed an agreement here on Thursday, outlining their collaboration to enhance the effectiveness of environmental protection laws and regulations covering imports and exports.
China's quality watchdog chief Li Changjiang and U.S. Environmental Protection Agency (EPA) administrator Stephen L. Johnson signed a memorandum of understanding (MOU) at the Third China-U.S. Strategic Economic Dialogue (SED), which began on Wednesday and will run through Thursday.
Joint efforts will be made to regulate the import and export products between the United States and China, such as monitoring wastes and recycling materials, guarantee the security of chemicals, and check pesticide residues, according to the MOU between China's General Administration of Quality, Supervision, Inspection and Quarantine (AQSIQ) and the U.S. EPA.
Joint activities should also be carried out, such as testing program development, cooperative research and information sharing, and training, according to sources close to the senior officials. The MOU is effective for five years and may be extended with mutual agreement. AQSIQ officials said the MOU would help build mutual contacts and form effective mechanisms to resolve problems and promote the healthy development of mutual trade.
China's quality watchdog chief Li Changjiang and U.S. Environmental Protection Agency (EPA) administrator Stephen L. Johnson signed a memorandum of understanding (MOU) at the Third China-U.S. Strategic Economic Dialogue (SED), which began on Wednesday and will run through Thursday.
Joint efforts will be made to regulate the import and export products between the United States and China, such as monitoring wastes and recycling materials, guarantee the security of chemicals, and check pesticide residues, according to the MOU between China's General Administration of Quality, Supervision, Inspection and Quarantine (AQSIQ) and the U.S. EPA.
Joint activities should also be carried out, such as testing program development, cooperative research and information sharing, and training, according to sources close to the senior officials. The MOU is effective for five years and may be extended with mutual agreement. AQSIQ officials said the MOU would help build mutual contacts and form effective mechanisms to resolve problems and promote the healthy development of mutual trade.
Wednesday, December 12, 2007
Chinese Tourists Get U.S. Visas for Group Travel
Chinese will soon be able to travel to the United States on tourist visas, according to an agreement signed in Beijing Tuesday. The memorandum of understanding (MOU) signed between the two countries to facilitate outbound tourist group travel grants the US Approved Destination Status (ADS) after years of negotiations, making it the 134th country on China's list.
Chinese travelers will be able to travel in groups as early as in spring. Currently, the US issues only business travel visas. The China National Tourism Administration (CNTA) said the agreement will, apart from invigorating the tourism industry, provide a strong impetus to bilateral ties in such sectors as the economy, trade and culture.
"The agreement will open a large and growing market for the US travel and tourism industry," US Commerce Secretary Carlos Gutierrez said Tuesday.
The US Department of Commerce forecast that the number of Chinese visitors would reach 579,000 annually by 2011, up from 320,000 last year. "We are very excited. We have been waiting for this day to come, and it came sooner than we thought," said Jamie Y. Lee, chief representative of the Los Angeles Convention and Visitors Bureau, the first city-level tourism office established in China. More US states and cities will likely open offices in China to promote tourism, she said.
According to the MOU, one of the 14 agreements and memoranda signed during the 18th China-US Joint Commission on Commerce and Trade, US destinations will get the green light to market themselves in China. The MOU may be terminated only when significant numbers of group travelers overstay in the US, the Department of Commerce said.
Previously, the worry hindered tourism negotiations, said Li Xinjian, a senior researcher at the school of tourism management affiliated to Beijing International Studies University. But the increase in the number of Chinese outbound tourists and their rising spending power have made the opening of the US market inevitable.
In the past five years, China has overtaken Japan to become the largest source of outbound travelers in Asia. Statistics from the US Department of Commerce indicate that the United States attracted 320,000 Chinese travelers in 2006, up 19 percent from the previous year. Total spending by the Chinese travelers there added up to $2.07 billion last year, up 35 percent year-on-year. The expenditure included accommodation, communications, tickets to tourist spots and shopping. "It is much higher than the average expenditure of Chinese travelers in other countries and regions," Li said. CNTA figures for 2006 showed that the average Chinese traveler spent $735, compared with more than $6,400 in the US. In the long run, tourists' spending will continue to grow, along with the increase in incomes, Li forecast.
Chinese travelers will be able to travel in groups as early as in spring. Currently, the US issues only business travel visas. The China National Tourism Administration (CNTA) said the agreement will, apart from invigorating the tourism industry, provide a strong impetus to bilateral ties in such sectors as the economy, trade and culture.
"The agreement will open a large and growing market for the US travel and tourism industry," US Commerce Secretary Carlos Gutierrez said Tuesday.
The US Department of Commerce forecast that the number of Chinese visitors would reach 579,000 annually by 2011, up from 320,000 last year. "We are very excited. We have been waiting for this day to come, and it came sooner than we thought," said Jamie Y. Lee, chief representative of the Los Angeles Convention and Visitors Bureau, the first city-level tourism office established in China. More US states and cities will likely open offices in China to promote tourism, she said.
According to the MOU, one of the 14 agreements and memoranda signed during the 18th China-US Joint Commission on Commerce and Trade, US destinations will get the green light to market themselves in China. The MOU may be terminated only when significant numbers of group travelers overstay in the US, the Department of Commerce said.
Previously, the worry hindered tourism negotiations, said Li Xinjian, a senior researcher at the school of tourism management affiliated to Beijing International Studies University. But the increase in the number of Chinese outbound tourists and their rising spending power have made the opening of the US market inevitable.
In the past five years, China has overtaken Japan to become the largest source of outbound travelers in Asia. Statistics from the US Department of Commerce indicate that the United States attracted 320,000 Chinese travelers in 2006, up 19 percent from the previous year. Total spending by the Chinese travelers there added up to $2.07 billion last year, up 35 percent year-on-year. The expenditure included accommodation, communications, tickets to tourist spots and shopping. "It is much higher than the average expenditure of Chinese travelers in other countries and regions," Li said. CNTA figures for 2006 showed that the average Chinese traveler spent $735, compared with more than $6,400 in the US. In the long run, tourists' spending will continue to grow, along with the increase in incomes, Li forecast.
Wednesday, December 5, 2007
U.S. Firms still Keen on China
US companies are increasingly keen to do business in China, despite facing the same challenges reported five years ago.
That's according to the 2007 China Business Report, released by the American Chamber of Commerce (AmCham) in Shanghai. The report is based on the chamber's annual China Business Survey, to which 267 of its 1,600 corporate members responded.
The results indicate that US companies in China see it as a destination for investment and business, with many planning to increase spending in the nation.
"The most significant trend is that US companies are keen on doing business in China, despite the challenges they meet," said Brenda Foster, president of AmCham Shanghai.
"Overall, US businesses in China continue to increase their investments in China and expand.
"Despite the positive outlook and improved operating margins, competitive forces and rising costs are increasingly squeezing margins for US companies."
Foster said the top challenges identified by respondents are consistent with its previous surveys, which began in 2003.
"The most important change for 2007 is that human resource constraints, such as attracting and retaining qualified staff, have become the top challenge," said Foster.
Over 65 percent of respondents reported a negative impact on business operations in China because of difficulty attracting, developing and retaining skilled, technical and managerial staff.
According to HR expert Stephanie Liu of Armstrong World Industries, the imbalance in demand and supply of skilled staff is unlikely to change in the near future.
The survey found that top challenges also include the protection of intellectual property rights (IPR). But 50 percent of respondents said they believe IPR protection has improved.
That's according to the 2007 China Business Report, released by the American Chamber of Commerce (AmCham) in Shanghai. The report is based on the chamber's annual China Business Survey, to which 267 of its 1,600 corporate members responded.
The results indicate that US companies in China see it as a destination for investment and business, with many planning to increase spending in the nation.
"The most significant trend is that US companies are keen on doing business in China, despite the challenges they meet," said Brenda Foster, president of AmCham Shanghai.
"Overall, US businesses in China continue to increase their investments in China and expand.
"Despite the positive outlook and improved operating margins, competitive forces and rising costs are increasingly squeezing margins for US companies."
Foster said the top challenges identified by respondents are consistent with its previous surveys, which began in 2003.
"The most important change for 2007 is that human resource constraints, such as attracting and retaining qualified staff, have become the top challenge," said Foster.
Over 65 percent of respondents reported a negative impact on business operations in China because of difficulty attracting, developing and retaining skilled, technical and managerial staff.
According to HR expert Stephanie Liu of Armstrong World Industries, the imbalance in demand and supply of skilled staff is unlikely to change in the near future.
The survey found that top challenges also include the protection of intellectual property rights (IPR). But 50 percent of respondents said they believe IPR protection has improved.
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