DJI’s Wang Tao becomes Asia’s youngest tech billionaire
Aug-29-2017 By : fcccadmin
Wang Tao, founder of the world’s biggest maker of civilian recreational drones, has become the youngest Asian technology billionaire on Forbes magazine’s 100 Richest in Tech list, at the age of 36. Wang, whose wealth is estimated at USD3.2 billion, is ranked 76 on the list. A graduate of the Hong Kong University of Science & Technology (HKUST), Wang founded his drone company DJI in Shenzhen in 2006, building it into a business with an estimated 70% share of the world’s market for recreational drones.
The wealthiest tech billionaire in Asia is Jack Ma, Founder and Chairman of Alibaba Group Holding, the world’s largest online shopping platform. His wealth is estimated at USD37.4 billion. Pony Ma, Founder of Tencent Holding, operator of China’s largest social network, is second at USD36.7 billion. Robin Li, Founder of internet search engine Baidu, is valued at USD15.8 billion, while online retailer JD.com’s Liu Qiangdong’s wealth is estimated at USD10.1 billion. Half of the top 100 tech tycoons are Americans, including eight of the 10 richest.
Administrative and Logistics Assistant at the Embassy of Belgium in Beijing
By : fcccadmin
The Embassy of Belgium in Beijing is looking for an Administrative and Logistics Assistant
Position: Administrative and Logistics Assistant (local staff)
Location: Embassy of Belgium, San Li Tun Lu 6, 100600, Beijing
Salary: Contractual position, paid accordingly to local conditions
Deadline: 08/09/2017, 17:00 (Beijing time)
Job description
- Assisting in the day-to-day operations and maintenance of the Embassy
compound; - Providing logistic support to Embassy staff;
- Assisting in the management of events organised by the Embassy or at the
Embassy compound (e.g. exhibitions, receptions, seminars); - Contacting Chinese entities (authorities, external suppliers and companies);
- Managing the inventory of the Embassy compound;
- Acting as contact person for the maintenance of ICT material and systems;
- Acting as contact person for the safety and security of the Embassy compound;
- Other ad-hoc administrative tasks such as supporting occasionally the consular section in providing consular assistance to Belgians and/or delivering visa.
Qualifications
- Very fluent in Chinese (Mandarin, both written and oral skills);
- Excellent command of Dutch and/or French (knowledge of both languages is an asset);
- Excellent command of English;
- General ICT skills (i.e. word processing, spreadsheet, internet, e-mail) and
technical ICT knowledge for the maintenance of operational ICT material and systems; - Good understanding of operational systems (i.e. water, electricity) and of logistics;
- Ability to work independently, show initiative and work productively as part of a team;
- Having an eye for details and a meticulous approach;
- Showing flexibility and a high-degree of multi-tasking;
- Possessing good communication, social and organisational skills with a service minded and positive attitude.
Application
To apply for this position, please send your resume (curriculum vitae) and cover letter no later than 8th September 2017, 17:00 (Beijing Time) to beijing@diplobel.fed.be, clearly stating “Administrative and Logistics Assistant” in the subject line. In the meantime, for any question related to this position, please contact the embassy by email (beijing@diplobel.fed.be) or by telephone (+86 10 6532 1736).
Chinese buyers head to the car supermarket
Aug-21-2017 By : fcccadmin
Chinese car buyers used to visiting traditional car dealers, now have a new venue to include on their shopping itinerary – the car supermarket. The new format allows buyers to look at a large array of cars in one place and compare specifications and prices. Suning was among the first to jump on the “one-stop shop” bandwagon when it opened a car supermarket in Nanjing last month. The market displays both domestic and foreign models, including Maserati, Cadillac, BMW, Mercedes-Benz and Audi. It also provides a car leasing service, auto parts and after-sales maintenance. “For consumers, this is a way to save time, get to know more brands, and make decisions after careful comparisons,” said Liu Donghao, Manager of Suning’s Automotive Business Section. “We aim to break the mold of single-brand dealerships.” In the next three to five years, the company said it expects to open more than 100 car supermarkets in China. Gome Electric Appliances, a major rival of Suning, said it plans to add car sales areas in most of its 1,700 stores in China. “Gome has the advantages of a large number of stores in China,” said Zhang Haifeng, Manager of Gome’s car business. “Our stores are located in downtown areas, and that’s a strength in the automotive business.” However, car supermarkets are facing fierce competition from traditional car dealers and encountering some wariness by consumers. So far, foot traffic in the new supermarkets has been fairly light. Most of the car brands are luxury brands, but customers want to see all kinds of brands and models in different price ranges, one prospective buyer said. “Mainstream car manufacturers have spent a huge amount of time and money working with traditional car dealers. They are unlikely to abandon those ties to work closely with car supermarkets,” Luo Lei, Deputy Secretary General of the China Automobile Dealers Association, said.
Baopals helps expats shop on Alibaba’s platforms
By : fcccadmin
Expats living in China often have problems when shopping on the Alibaba platforms Taobao and Tmall, online marketplaces offering 800 million products. If they can’t read Chinese, they have to ask a local for help when ordering merchandise. But two years ago, three American expats – Charlie Erickson, Jay Thornhill and Tyler McNew – decided to create an e-commerce website called Baopals, which navigates Taobao and Tmall in English translation. Baopals provides product descriptions, price and delivery information, customer comments and a channel for ordering goods all in English. The Baopals team said it is trying to build a bridge between Taobao and customers, not only those living in China but also those living overseas. The target market may not be very large, but most expats living in China have strong buying power. According to the latest data available, there are more than 600,000 foreign residents in China, and more than 170,000 of them live in Shanghai. The website will be updated in about two months to include more social functions, such as allowing English-language users to leave their own comments and recommendations about products they see on Alibaba sites. For payments, Baopals accepts Alipay, WeChat Wallet and UnionPay. The website charges a commission fee of 5% of the price of an ordered item, plus CNY8 per item type. Baopals staffers then use their own Taobao accounts to communicate with and pay online vendors. To date, Baopals has handled more than 120,000 orders and nearly 600,000 items from 16,000 registered users. The site turned a profit for the first time earlier this year. The Baopals team now numbers 26 full-time staff, the Shanghai Daily reports.
China’s capital outflow problem still a ‘grey rhino’
By : fcccadmin
The desire among China’s wealthy to convert their yuan-based assets into foreign currencies has been a headache for the government. Despite its efforts to curb capital outflows, the problem has become one of the “grey rhino” risks to the economy that are considered too big to ignore. China’s foreign exchange reserves rose for a sixth straight month in July, suggesting efforts to slow capital outflows and boost inflows were paying dividends, but the growth should not be overplayed. “The rise in foreign exchange reserves is partly a result of currency valuation changes in the portfolio,” said Wang Tao, Chief China Economist with UBS. “A rise in reserves doesn’t mean a net capital inflow.” While the government does not release the currency structure of its reserve portfolio, it is generally estimated that the U.S. dollar accounts for about two thirds of the USD3 trillion foreign exchange reserves. The weakening dollar led to a relative rise of the yuan and also an appreciation in euro and yen assets, resulting in a nominal rise in foreign reserves. Xie Yaxuan, Chief Economist with China Merchants Securities, estimated that the valuation change contributed to a nominal rise of USD29.1 billion in July, which in effect means China’s reserves fell by USD5.2 billion during the month. Similarly, if measured by Special Drawing Rights (SDRs), China’s reserves have fallen in each of the past five months, from 2.2196 trillion SDR at the end of February to 2.1884 trillion at the end of July, according to the People’s Bank of China (PBOC). Yuan positions resulting from foreign exchange purchases have also been in decline for 21 months, indicating a steady capital outflow, although the fall in July was only CNY4.6 billion, down from CNY34.3 billion in June. Companies famous for acquiring assets abroad, such as Dalian Wanda Group, HNA Group and Anbang Insurance, have been told by the government to curtail their overseas purchases. Nevertheless, the problem of capital flight is unlikely to go away any time soon, the South China Morning Post reports.
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