Changyu acquires Spanish wine maker
Sep-28-2015 By : fcccadmin
Yantai Changyu Pioneer Wine Co, a leading Chinese wine producer, has stepped up its overseas moves with the acquisition of Marques del Atrio, a wine company in Spain. Changyu, which has more than 100 years of history, was established in 1892 by Chinese diplomat Zhang Bishi. Marques del Atrio products have been sold to more than 40 countries, with overseas revenue accounting for about 55% of its total revenue. The Spanish wine company also has close ties with leading global retailers like Carrefour and Tesco. The acquisition follows Changyu’s take-over of France-based Roullet-Fransac Cognac in 2013. According to Zhou Hongjiang, General Manager of Changyu, the acquisition will further the wine maker’s globalization strategy. However, he did not disclose any details on the acquisition price or other terms of the deal.
More Chinese interested to buy an island
By : fcccadmin
Many visitors at the Luxury Properties Showcase in Guangzhou were looking to buy islands in the South Pacific for a few million yuan, about the same price as an apartment in Shenzhen. Wang Haiyang, General Manager at Vladi Private Islands, an international island broker, said an increasing number of Chinese entrepreneurs had expressed an interest in investing in islands in recent years. Investors preferred islands that were not too remote and priced from tens of millions of yuan to CNY100 million, Wang said. Fiji in the South Pacific and Canada were among the popular choices.
Retail sales rise 10.5% in first eight months
By : fcccadmin
Sheng Laiyun, Economist at the National Bureau of Statistics (NBS), said recently that in the first eight months of the year, retail sales registered 10.5% growth year-on-year, compared with 10.9% growth in fixed-asset investment (FAI) and a 1.4% drop in exports. 60% of China’s GDP growth in the first half of 2015 came from consumption, compared with 35.7% from fixed-asset investment and only 4.3% from exports. In 2014, consumption’s contribution was 54.3%.
Chinese companies need to focus on innovation
By : fcccadmin
Low level of innovation is affecting the Chinese manufacturing industry’s ability to grow from “big” to “strong”, according to an industrial report by the Liaowang Institution, a domestic research organization under Xinhua News Agency. A large number of core technologies being used in manufacturing are imported, the report added, based on a survey of 93 large manufacturing companies. China’s rate of transformation of scientific and technological achievements is about 10%, far less than that of the developed countries, which is about 40%. Chinese companies need to boost investment in research and development (R&D), especially amid the country’s implementation of the ‘Made-in-China 2025’ strategy, for switching from low-end processing to more value-added production, the Liaowang Institution said.
Beijing pledges crackdown on suspicious trading
By : fcccadmin
Beijing says it will crack down hard on suspicious trading, vowing tough enforcement would become a “new norm” as it tries to rein in the excesses that have shaken the A-share market, as market manipulators chasing profits had exploited new technologies, investment products and business models. “Tightened regulation will become a new norm,” an official said. The CSRC also said it would strengthen supervision of the grey financing market, which channeled an estimated CNY2 trillion in unregulated funds to investors who bought on margin.
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