Don't have an account yet? Get FREE 7-Day Trial
November 18 – US handbag maker Coach Inc is pushing for China to become its No 1 market in the next three years, the Wall Street Journal reported. The New York-based company said it is on track to reach $300 million in sales in China by the end of this year and aims to reach $500 million by 2014, said Victor Luis, president of Coach's international operations. Coach's revenue from China was $185 million in 2010.
http://online.wsj.com/article/SB10001424052970204517204577043701556706074.html
November 18 – Bayer AG said it plans to spend €1 billion building an R&D facility in Shanghai. The German pharmaceutical company aims to collect €6 billion from the Greater China Region, out of €11 billion in annual revenues, by 2015.
http://www.linkshop.com.cn/web/archives/2011/184861.shtml
November 17 – The Dow Chemical Co (NYSE: DOW) hopes its revenue from the Greater China region will reach up to $8 billion by the end of 2015, double that from 2010. The region was responsible for 20% of Dow's total revenue in Q3 2011.
http://www.yicai.com/news/2011/11/1204055.html
November 16 – Novartis AG (NYSE: NVS), a Swiss pharmaceutical company, said it will invest an additional $25 million beefing up its 50,000m2 plant in Zhongshan, Guangdong province, which became operational in 2007.
http://www.yicai.com/news/2011/11/1201025.html
November 16 – SAP AG (NYSE: SAP), the world's largest maker of business management software, plans to almost double its workforce in China and invest $2 billion in the country by 2015, Bloomberg reported. SAP will hire 2,000 people, adding to an exisiting payroll of 2,500 employees in the country, and double its offices, from the current five, to ten. Investments will focus on sales force training and developing software that can be exported to other countries.
http://www.bloomberg.com/news/2011-11-15/sap-ag-plans-to-double-chinese-workforce-accelerate-investment-by-2015.html
November 15 – Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) said it plans to open three Westin hotels in Ningbo, Xian and Xiamen in the next six months, increasing its hotels in China to 16. The company plans to operate 32 hotels in the country by the end of 2014.
http://www.yicai.com/news/2011/11/1196688.html
November 15 – JP Morgan Chase & Co (NYSE: JPM) is investing $200 million to help set up a financial company that will offer loans to small Chinese firms, which always struggle to get credit from Chinese lenders, the Wall Street Journal reported. JP Morgan will be joined by Germany's Siemens AG, Chinese steelmaker Baosteel Group Corp, Export-Import Bank of China and other local investors. The new firm will have ¥5.1 billion in registered capital, making it one of the biggest companies of its kind in China. JP Morgan's investment will give it a 24.9% stake in the new firm, according to a person close to the deal.
http://online.wsj.com/article/SB10001424052970203503204577037591202586900.html
November 15 – CBRE Global Investors, manager of $94.8 billion in real estate assets, may make its first investment in China's housing market in four years in anticipation of the government easing its property curbs, Bloomberg reported, citing Greater China Country Manager Richard van den Berg. A unit from the world's largest commercial real estate brokerage is in talks with Chinese partners and local governments and plans to buy a site for residential development by the second quarter of next year.
http://www.bloomberg.com/news/2011-11-14/cbre-global-plans-to-make-its-first-china-housing-investment-in-four-years.html
November 15 – Handsets backed by Google's (NASDAQ: GOOG) Android system accounted for 58% of smartphone sales in China during Q3 2011, according to Analysys International.
http://eguan.cn/data/yiguanshuju_119445.html
November 14 – Browser search requests in China rose 6.1% quarter on quarter and 16.3% year on year to 77.51 billion in Q3 2011, according to iResearch. Baidu (NASDAQ: BIDU) continued to dominate the market with an 85.5% share, up 1.7 percentage points from Q2, while Google's (NASDAQ: GOOG) share declined 0.8 percentage points to 7.4%.
http://www.iresearch.com.cn/View/155878.html
$1 = ¥6.34
@2011 China Economy @ The China Perspective.
HOME