By Vivian Ni
May 31 – A recent trend has emerged as an increasing number of international luxury brands are deciding to list on the Hong Kong Stock Exchange, proving the recent Hong Kong IPO fever has been contagious – from resource giants like Glencore to other businesses in other sectors that also find accessing the China market a crucial part of their search for future profits.
The Milan Station miracle
A relatively small offering by Hong Kong’s second-hand luxury handbag retailer Milan Station has just set a new initial public offering (IPO) record on the Hong Kong exchange, giving a kick to the market which had been sluggish since April. Planning to only raise HK$200 million, Milan Station’s IPO was oversubscribed 2,180 times, smashing a previous over-subscription record of 1,072 times set by Tianjin Port Development in 2006. Its shares surged by 77 percent at one point on its first day of trading on May 23, and closed with a gain of 65.8 percent. Continue reading
Chinese Inner Mongolia and the Mongolian State are separate entities, but confusion remains as to the differences.
Op-Ed Commentary: Chris Devonshire-Ellis
ULAANBAATAR, May 30 – Recent reports in the press over ethnic tensions “in Mongolia” demonstrate there is still much to be understood about the region. Apparently, an ethnic Mongolian herder was killed by a Han Chinese lorry driver in an accident that has sparked unrest in the Chinese autonomous region of Inner Mongolia. Meanwhile, Mongolia itself remains an independent country and is utterly unaffected by the incident in China. Such reports however, tend to demonstrate poor standards of journalism, a lack of appreciation of the dynamics between the two areas, and a disregard for historical fact. That the incident was widely reported in headlines as having taken place in “Mongolia” blurs distinctions and is indicative of lazy journalism. In this article I aim to describe the differences between the two as well as shed some light on the background to the incident in question. Continue reading
May 30 – The Asian Development Bank announced last week that it will inject around US$60 million into three venture capital (VC) funds in order to facilitate the development of green technologies in China and India.
The three funds – named Aloe Environment Fund III, Keystone Ventures II, and VenturEast Life Fund III – will be invested in early-stage clean-tech companies that can help confront the challenges brought by climate change and environmental pollution. China and India will become the major destinations where the funds flow, since both markets are making significant efforts to develop sustainable technologies, and promote their green energy industries. Continue reading
May 27 – North Korea’s Supreme Leader Kim Jong-il returned to Pyongyang on Thursday after his recent trip to China from May 20 to May 26 during which he held meetings with President Hu Jintao and Premier Wen Jiaobao.
During his trip, Kim visited Mudanjiang in Heilongjiang Province, Changchun in Jilin Province, Yangzhou and Nanjing in Jiangsu Province, and China’s capital city of Beijing. His stops included visits to farms, households, factories, and high-technology centers where he was said to have witnessed China’s progress in terms of economic development, social construction, technology and culture. Continue reading
May 27 – China, India and Vietnam were ranked the top three emerging Asian nations most likely to maintain steady and rapid economic growth over the next five years, according to Bloomberg’s Economic Momentum Index for Developing Asia.
The index regularly assesses and rates 22 emerging Asian economies based on a number of key factors that contribute to market growth. Market competitiveness, labor force quality, gross national savings as a percentage of GDP, and the growth of high-technology exports each account for 10 percent of the index rating. Weightings of 5 percent each are given to growth in GDP per capita, growth in world share of GDP, inflation stability, diversity in trading partners, debt burdens, lending costs, FDI, deforestation, and four “cohesiveness factors” including ethnic and religious homogeneity, income equality, rates of urbanization and poverty reduction, and variation in the jobless rate. Continue reading
By Jennifer Park
May 26 – India’s second largest global technology company Infosys is building a new campus in Shanghai. Expanding over 15 acres at the Zizhu Science and Technology Park, the campus is expected to become its largest software development center outside India.
Set to be constructed over the next three years, the new Shanghai campus will be of the highest quality equipped with software development, labs, data centers, training facilities as well as recreational facilities. Infosys plans to invest US$125 million to US$150 million, among the largest investments made by a software company in China. It will also be one of the first global enterprises to establish a delivery center in Shanghai. Continue reading
By Vivian Ni
May 25 – Following a recent power shortage scare, the most serious drought in 50 years has again drawn Chinese people’s attention to areas along the lower reaches of the Yangtze River. Faced with the public’s questions on causes of the various natural disasters within the Yangtze basin over the past few years, the Chinese government has admitted for the first time that its massive Three Gorges Dam project carries some responsibility for the environmental changes.
While the lower reaches of the Yangtze River covering eight provinces of both Central and Southern China are usually considered to be an area with relatively abundant water resources, the weather seems to be changing here. According to Chinanews.com, rainfall in the region has decreased significantly since last November to the lowest amount in 60 years. Continue reading