China Business Perspectives Briefing: The Business Environment for Foreign Companies in China – Which Way is Forward? – 16h; Reception with the Ambassador of Belgium in China and the Consuls General of Belgium in Shanghai, Guangzhou, Hong Kong – 18h, 27 January 2011 – KBC Bank, Brussels
Jan-31-2011 By : agxadmin
The Flanders-China Chamber of Commerce (FCCC) and The Conference Board organized an interesting briefing on “the Business Environment for Foreign Companies in China – Which Way is Forward?” on January 27, 2011 at KBC Bank in Brussels. Following an introduction by Mr Bert De Graeve, Chairman of the Flanders-China Chamber of Commerce and CEO of Bekaert, Mr David Hoffman, Vice President & Managing Director of The Conference Board’s China Centre delivered a presentation on how China’s business environment is evolving for foreign investors, what influences are shaping the policies environment and how foreign investors can position themselves to favorably shape the operating environment. His interesting speech was followed by a panel discussion and a reception attended by HE Mr Patrick Nijs, Ambassador of Belgium in the People’s Republic of China and Mr Michel Malherbe, Consul General of Belgium in Hong Kong. Pictures of the activity can be viewed online.
FCCC Chairman becomes Honorary Citizen of Shanghai
By : agxadmin
Bert De Graeve, Chairman of the Flanders-China Chamber of Commerce (FCCC) and CEO of Bekaert, received the Shanghai Honorable Citizenship Award from Mr. Han Zheng, Mayor of Shanghai, at Shanghai City Hall. The Shanghai Honorable Citizenship Award is the highest distinction in recognizing extraordinary contributions by expatriates to the city of Shanghai. The award was granted by the Mayor of Shanghai for Mr. De Graeve’s active participation and guidance to the International Business Leaders’ Advisory Council (IBLAC). Mayor Han Zheng thanked Bert De Graeve for his continuous support to the city of Shanghai and referred to him as ‘an old friend of Shanghai’. He also recognized Bekaert for displaying its corporate citizenship by supporting the city, not only in terms of economic growth, but also by actively participating in the community and in various local activities. During the ceremony, Bert De Graeve expressed his appreciation and commitment to the city: ”It is a great honor for me to receive this token of appreciation from a city with which I have developed a special relationship. Both Bekaert and myself are committed to sustain a strong Shanghai citizenship and I will personally continue to take up my role as an ambassador of the city.”
Volvo establishes China headquarters in Shanghai
By : agxadmin
Volvo has established its China headquarters in Shanghai to further expand its market share in the country. It also established a research and development (R&D) center to develop new technologies. Last year, Ford sold Volvo to Chinese car manufacturer Geely for USD1.5 billion. Volvo sold more than 373,500 cars in 2010. Sales in Europe rose 29%, while in China they climbed 36%. U.S. sales dropped by 12% to 53.952 units.
TCM China: Is there a risk of payment default for your deliveries to China?
By : agxadmin
Open account payment terms are customary today in China. Open account sales are offered by about 65% of the companies, and that number is still growing. With an average of 60 days, the standard payment terms are longer in today’s China than in many other countries. In today’s China, most of the companies have experienced overdue account receivable, 75% of which exceed the 30 days after the payment due date. Preventing problems means learning about your client. But a common phenomenon, for example, is that Chinese companies keep three different sets of financial reports, one for the owner with the “real” numbers, one for the authorities like Tax Bureau, and one for the owner’s wife. Some companies are now having a fourth set, the one for their business partners. TCM China produces 400 reliable reports every day. What to do when faced with payment delinquency? An option is to go to courts. But China’s legal system still has a variety of problems. There is no Chinese equivalent of a Uniform Commercial Code to rely on. Besides, the enforcement of a court verdict in China often takes a year or two. An alternative to courts is arbitration. But the first step might better be amicable debt collection. TCM China (contact www.tcm.be) is quicker than courts, works no-cure-no-charge, saves your relationship with your client, and is quite efficient at finding assets and tracing people.
NPL ratio improved in 2010
By : agxadmin
The non-performing loan ratio of commercial banks averaged 1.14% at the end of 2010, down from 1.58% at the start of the year, according to data published by the China Banking Regulatory Commission (CBRC). The total industry-wide volume of bad loans fell to CNY429.3 billion from CNY497.3 billion during that time. The CBRC also said that banks’ provisions for loan losses were equal to 218.3% of the bad debt on their books at the end of 2010, up from 155% coverage at the start of the year. Analysts expect more fund raising this year to ensure that the banks keep ahead of the regulatory requirement of an 11.5% capital adequacy ratio (CAR). A series of successful fund raising efforts nudged up the sector’s average capital adequacy ratio (CAR) to 11.6% at the end of the third quarter from 11.4% at the start of the year. The CBRC did not disclose the end-year CAR in its latest data.
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