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16.10.2013
Mounting debts at State-owned China Railway Corp Group have sparked calls to split up the country's main railway service provider. Crew members at a regional division of CRC in Chengdu, capital of Sichuan province, take part in a rescue exercise.
The company said in an announcement that the losses during this period were mainly caused by fast-growing road transportation and an overall decline in rail goods transportation.
Luo Renjian, with the Institute of Transport Research at the National Development and Reform Commission, said even though the CRC's debt burden was not high compared with firms in sectors such as highways, civil aviation and ports, it would be better to divide the company. Eager to restore its earning ability, the CRC announced last month the creation of a number of rail logistics centers in Anhui and Shandong provinces to support transportation of household appliances and diversify its businesses, an effort to compete with airlines and private delivery companies. As China's main railway network developer, the CRC is also responsible for investments in big-ticket projects like railway construction and the purchase of equipment including bullet and freight trains.
The government has an investment target of more than 800 billion yuan for railway construction to expand China's high-speed railway network this year, build more intercity and city-suburb links, and work to complete a freight railway network. Zhao Jian, a professor of rail logistics at Beijing Jiaotong University, said because of its administrative role, the CRC has no choice but continue to invest in these new projects.
The PPP model is where a government service or private business venture is funded and operated through a partnership of government and one or more companies from private sector.
According to a recent announcement by the NDRC, China's top economic planning agency, the CRC is being empowered to decide how much high-speed train tickets cost in light of "market competition and passenger distribution". They said the shifting trend illustrates just how different generations of buyers now view investing in such expensive items. The latest industry data show the changing economic climate has been affecting the jewelry market for the past two years. Statistics from the Gemological Association of China show retail sales revenue of gold and gem jewelry in China in 2015 was about 500 billion yuan ($76.9 billion), growing by 2 percent over 2014. Gold jewelry consumption and manufacturing demand slumped 14 percent to 193.6 tons in the first quarter of 2016, according to the China Gold Association. Yang Sisan, the association's deputy secretary-general, said like many sectors, the jewelry industry is also in dire need of reducing inventories, and cutting overcapacity. Companies launching new products, which embed wearable devices, have seen the most positive results, according to participants at the Shanghai event, which runs until Monday.
Mira Lee, regional manager with Shenzhen-based Kingee Intelligent, said it's been developing smart rings, with a displayer hidden among gold and silver bands, which can display health indicators such as heart rate.
Guo Ying, head of the Gemological Institute at China University of Geosciences, said product diversity will become increasing important in the future, but cautioned it may take a while yet for China's jewelry market to fully adjust to all types of modern consumer demand. The information infrastructure provider headquartered in Beijing and Hangzhou is preparing to fight off challenges from overseas giants such as Cisco Systems Inc and Dell Inc, taking advantages from closer ties with the government and technologies from HPE. Tony Yu, president and CEO of New H3C, said his priorities include keeping the firm's top ranking in the Chinese enterprise market while transforming the company from a hardware maker to a software developer and provider of related services. HPE, an enterprise technologies provider spun off from personal computer giant Hewlett-Packard Co in 2015, sold 51 percent of the stake in H3C Technologies Co Ltd to Unisplendour Corp Ltd for at least $2.5 billion last year. Beijing-based Unisplendour is an IT arm controlled by Tsinghua Unigroup Co Ltd, which was set up by Tsinghua University, the country's elite educational institute where a long list of tech tycoons and government officials were graduated.
Victor Zhao, chairman of Tsinghua Unigroup, said supports from the Chinese government were a key reason for Unigroup to complete the purchase.
Top technology providers are set to become core players in China as competition heats up, said a report from the industry consultancy International Data Corp. Kitty Fok, director of IDC China, said the founding of New H3C marks the beginning of a new round of competition because the biggest overseas giants have all tied up with their local partners. China is on high alert over information safety since whistleblower Edward Snowden unveiled the massive surveillance program from the United States. Cisco later moved to partner with Shandong-based Inspur Technologies Co Ltd to stay relevant in the world's second-largest economy. Huawei Technologies Co Ltd's cloud service DBank said on Tuesday it would coordinate with the government's anti-piracy push by halting cloud storage services to individual users, making it the sixth major tech company to do so within two months. Huawei DBank is the second-largest personal cloud service provider in China, with more than 14 million monthly active users, according to Chengdu-based Big Data Research Center.
The company said all user files stored in its DBank cloud will be deleted after June 30th, adding the change will not affect users of its smartphones, who are using a separate cloud service. Storing files in the cloud is very popular among Chinese netizens as it allows users to view material from any smartphone, computer and tablet that's connected to the internet, and the cloud can also provide backup for files.
Last month, Tencent Holdings Ltd said it would end a file-transferring service on its Weiyun cloud, which has about 4 million monthly active users.
In March, five ministry-level departments said they would launch a nationwide crackdown on the use of cloud storage services to disseminate pornography and illegal publications. Internet companies involved in such practices will be held accountable, according to the anti-porn authorities.
It remains unclear whether Baidu Inc will take any measures with its Baidu Cloud service, which is China's largest personal cloud storage provider with more than 38 million monthly active users. Vincent Fu, an analyst at Gartner Inc, said some internet companies are giving up personal cloud storage services because they can't decide on a good business model.
The road for the overseas-listed Chinese companies to return to the domestic A-share market could get bumpier, after the securities watchdog said it was putting closer scrutiny on backdoor listings to curb feverish speculation and possible market malpractice. The China Securities Regulatory Commission said on Friday it is studying the potential impact of the re-listing of overseas-listed Chinese companies on the A-share market. An increasing number of overseas-listed Chinese companies have been seeking privatization and relisting on the domestic stock market, lured by much higher valuations offered by domestic investors. A typical way for these companies to be re-listed at home is through a backdoor listing, also known as a reverse merger, where they take control of already listed shell companies. Such practice has been considered an appealing short cut, given more that 700 companies are lining up to seek regulatory approval for their IPOs. Speculation on shell-company stocks, the potential targets for reverse mergers, intensified after the regulator delayed the adoption of a much faster registration-based new share system.
There has also been a suggestion that the Shanghai Stock Exchange might delay the launch of a new board for strategic emerging industries, which is believed to serve as a listing destination for US-listed Chinese technology firms. The latest wariness toward backdoor listings sent share prices of shell companies down on Friday. Share prices of US-listed Chinese companies also tumbled on Thursday after rumors circulated that the CSRC would halt the re-listing of overseas-listed Chinese companies in the A-share market.
Momo Inc, a Chinese social-networking app, which has already announced privatization plans, saw its share price plunge as much as 15 percent during intraday trading on the Nasdaq. A person, who declined to be named, said the bank held an internal meeting this week to discuss the matter. Yi Huiman, who was born in 1964 and has served as president of the ICBC since May 2013, may replace Jiang as the chairman. The ICBC said in a note to China Daily it will release information on executive changes according to the requirements on information disclosure for listed companies. Premier Li Keqiang said in November China wants to expand financing channels for cooperative projects between China and these countries. During Jiang's term, the bank expanded its global network and developed business overseas rapidly. They included 123 branches in 18 countries and regions along the routes of the Belt and Road Initiative, which refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
As many cities in China restructure and switch their focus from industrial to service-dominated activities, more global providers are rushing to share in the new opportunities being provided, according to ISS Group, the Danish outsourcing company. Jeff Gravenhorst, its CEO, told China Daily that it is gearing up to expand its business in the country, after enjoying 28 percent compound annual growth in China since launching here in 2005. He said ISS now has more than half a million employees worldwide, 200,000 of which are in the Asia-Pacific region, including 17,000 in the Chinese mainland. He has the goal of offering the firm's full range of services, including its featured integrated facility services to public and private sector customers in 77 economies around the world. To ensure the standards of its services is maintained, the company provides training handbooks for each of its departments to guarantee the most innovative of skill-sets right across the business. For example, the team tried to keep it promise of recycling spare carts within five minutes at Shanghai Pudong International Airport.
In addition, an advisory document to promote and accelerate the development of the outsourcing service industry issued in January by the State Council, China's cabinet, pointed out that the joint development of national and international markets should be enlarged in scale and upgraded in structure.
That also leads ISS to foresee promising market prospects and pay more attention to exploring new opportunities. He added that the type of service packages offered by foreign companies will help more emerging global and local businesses offer higher-standard services to the general public. As part of its annual foreign jaunt, entrepreneur Li Jinyuan's Tiens Group is spending 7 million euros ($8 million) this year to take some 2,500 of its employees to Spain. State-owned railway group Renfe has made available two extra-long special charter trains with a capacity of 1,500 seats to transport the group from Madrid to Barcelona. Additionally, the Tiens group has booked another two regular trains to accommodate the remaining workers.
Renfe notes that the operation deployed for Tiens workers resembles those implemented during periods of peak mobility in the country, such as national holidays and the summer season.
Local authorities in all three cities have arranged special cultural events to welcome the travelers. They include a cultural and culinary gathering on Friday in one of Madrid's largest parks where the visitors will be able to try one of Spain's most popular dishes - paella.
Spain welcomes an average of 300,000 Chinese tourists every year, a market that is growing at between 20 and 25 percent, according to the Shopping Tourism and Economy Summit in Madrid last year. Most Chinese travelers visiting Spain have high purchasing power and dedicate 70 percent of their travel budget to shopping. Chinese remain the highest spenders among tourists visiting Spain, said the consultancy Global Blue.
Despite its enormous economic potential, Becerra said that the Chinese tourism market is still underdeveloped in Spain and activities like the Tiens group can have a very positive effect in attracting more tourists.
Employees of Tiens Group attend a parade in Nice, France, last May, with their travel expenses covered by the company. Hong Kong-listed private hospitals owned by businesspeople from Putian, in eastern Fujian province, have seen their shares fluctuate or suspended over the past three days, after concerns were raised over their safety standards. A college student from Shaanxi province died of cancer on April 13 after receiving treatment in a hospital in Beijing, which he found by searching on Baidu, China's largest search engine.
It was revealed he was treated by people hired by an investment company based in Putian to subcontract the Beijing military clinic involved.
As a result of the incident, market experts said short-term sentiment might continue to be affected. But in the longer term it might actually help force regulators, operators and investors to strengthen safety and quality controls over the sector. Shares in Hua Xia Healthcare Holdings Ltd, Wan Jia Group Co Ltd and Harmonicare Medical Holding Co Ltd were all hit. The three are owned by Putian businesspeople who come from the same town as the owner of the Beijing facility connected to the death. Individual investors said they were concerned the companies may be linked to the Beijing site, with some suggesting share prices will suffer further if the firms fall under formal investigation. On Tuesday, Hua Xia group denied the Beijing hospital was affiliated, related to or managed by Hua Xia. Despite that statement, its share price slumped 16 percent on Tuesday, when the news of the incident first circulated. Harmonicare's shares also slumped 6 percent in value the same day, while shares in Wan Jia were suspended.
Health-driven sectors, including healthcare services, medical devices and pharmaceuticals, are currently popular with Chinese investors, both retail and institutional. Latest research on the domestic private equity market by Bain & Co rated the medical sector among the hottest fields alongside financial technology, entertainment and internet technologies, with deal sizes in the sector also growing. Experts said that the relation, between investment capital and the healthcare sector needs to be clarified. Shi Guomin, a senior expert in the PE sector who used to be executive manager of the healthcare investment fund at Beijing-based PE firm HG Capital, said investors have been spooked by the incident, with some scared off potential investment targets and deals as a result. But in the longer run, he said, it could prove positive for China's private healthcare and medical industry as a whole, as it might act as a timely reminder that safety and quality controls remain paramount.
A doctor talks with a pregnant woman at a hospital owned by Harnomicare Medical in Beijing. Calls by the National Health and Family Planning Commission, at its conference on Wednesday, for a halt to cellular immunotherapy as a treatment for cancer had a negative impact on more than 20 related listed medical companies.
Shanghai Haixin Group Co Ltd saw its shares decline 2.46 percent on Thursday, despite the benchmark index and most other shares edged higher. The group's subsidiary Shanghai Haixin Biotechnology Co, together with the Second Military Medical University, co-developed antigen pulsed human dendritic cells, China's first self-developed therapeutic vaccine. Shares in other medical companies, including Zhejiang Conba Pharmaceutical Co, Shanghai Canature Environmental Products Co, Anhui Anke Biotechnology Co, and Guanhao Biotech, all suffered declines by the close. Those companies cooperated with domestic and overseas institutions on cellular immunotherapy research - a new class of cancer treatment that works to harness the innate powers of the immune system. Another related company, Zhuhai Hokai Medical Instruments Co, suspended trading in its shares.
The NHFPC conference made it clear that cellular immunotherapy was still at the clinical research stage, and should be operated in accordance with relevant procedures. The NHFPC will prohibit hospitals from outsourcing departments through disguised ways, and strengthen the supervision of medical technology and equipment.
Insiders revealed that hospitals are required to stop their current outsourcing projects, and to report projects to the NHFPC.
At the clinical research stage, cellular immunotherapy should only be used for clinical studies. As a result, those primary healthcare institutions without qualifications will be regulated in applied immunotherapy, and institutions that are eligible for clinical trials will be still allowed to carry out the businesses. Currently, listed domestic companies offering cellular immunotherapy technologies mainly use cytokine-induced killer and DC-CIK treatments. The 21-year-old cancer patient Wei Zexi, whose death has been highlighted recently in the media, received that treatment before his death.
Analysts said low-end technologies, including CIK and DC-CIK, will be encouraged out the market.
CAR-T and TCR-T cellular therapies, meanwhile, will become the mainstream cancer treatments.
Ji Xuwo, a healthcare analyst at Orient Securities in Beijing, said: "Compared with traditional DC-CIK technologies, we are bullish on the growth potential of the CAR-T Cell therapy market, and the investment prospects of related companies, including Anhui Anke Biotechnology (Group) Co Ltd. The Ministry of Industry and Information Technology on Thursday issued a telecom license to China Broadcasting Network Ltd, making it the nation's fourth telecom operator. The ministry said in a statement on its official website that it has issued a basic telecom business license to CBN, permitting the company to operate internet data transmission business and domestic telecommunication infrastructure service business. The ministry has also allowed China Cable Television Network Co Ltd, a subsidiary of CBN, to operate the two businesses. CBN now becomes the nation's fourth telecom operator after China Mobile Communications Corp, China United Network Communications Group Co Ltd and China Telecommunications Corp, intensifying the competition among domestic telecom carriers. The purpose is to promote a three-network convergence, which combines cable television, telecommunications and the internet into one seamless chain, and promote competition in the market, said the ministry.
Chen Zhaoxiong, vice-minister of industry and information technology, said awarding the telecom license to CBN is of great importance and the authorities also imposed related conditions on the company. CRRC Changchun Railway Vehicles Co, a subsidiary of China Railway Rolling Stock Corp, will test the country's first hybrid-power train next month, project officials said on Thursday. The train will complete its technical debugging phase by the end of this month in Jilin province and tests are scheduled to start at the China Academy of Railway Sciences in June, which will take six months to ensure product quality, safety and efficiency. The new model will have between two and three power sources including integrated internal combustion power of diesel generator package and a power battery pack to cut carbon emissions and diesel costs. An Zhongyi, CRRC Changchun's general manager, said the train will give the country the edge in shifting from operating electrified railway networks to fully non-electrified ones, a move that favors the development of hybrid-powered trains.
China's railway trade opportunities come from surging demand in many countries such as the United States, Russia, Brazil, Thailand, Turkey, Saudi Arabia and Iran for improved equipment, infrastructure facilities, passenger services and regional connectivity, with efficiency and green credentials a priority. The new train will run at between 120 and 160 kilometers per hour, and is best-suited to be operated on lines of under 100 km in length, or on rail journeys of less than an hour.
Li said the train is powered using either a pantograph system, an apparatus mounted on its roof which gathers power through contact with an overhead wire, or an internal combustion power pack or power battery pack, to run if a power grid is unavailable. China is expected to continue a relatively large scale of railway investment over the next five years.
It will speed up the expansion of its high-speed railway network, build more inter-city and city-suburb links, and work to complete a freight railway network, according to the country's long-term railway development plan. Hybrid-power trains can be used on commuter lines between various cities, trunk railways and railway lines for passenger traffic along with fast-growing pace of urbanization. Shen Danyang, the ministry's spokesman, attributed the surge to a rise in the prices of iron ore in global markets. His comments came after the international media reported that global steel price on average had risen from $305 per metric ton earlier this year to $365 in April because China had cut between 150 million tons and 200 million tons of steel and iron production capacity to tackle the issue of overcapacity. Since March, China has adopted a series of measures including a plan to gradually cut steel production by 100 million tons by the end of this year and 200 million tons by 2020 to tackle the problem.
Sun Jin, director of communications at Wuhan Iron and Steel (Group) Co, one of the country's biggest iron producers by capacity, said the company's trains are no longer busy carrying piles of steel. Eager to restore its earning ability, the Wuhan-based steelmaker's non-steel businesses including new materials, energy resources, engineering and information technologies, logistics and modern services sectors have become its main breadwinners.
The government said 500,000 workers in the steel sector are expected to lose their jobs as part of the efforts to cut the overcapacity. More importantly, it will establish an incentive scheme to support VR content producers and VR gear producers to jointly build an "ecosystem" that is expected to boost the overall development of the sector. The company, which was majority owned by Baidu Inc, announced in February it would seek a listing in the Chinese mainland at an appropriate time once its privatization plan is completed.
Statistics from industry consultancy firm iResearch Consulting Group predicted that VR market revenue in China is expected to exceed 55 billion yuan by 2020, a sharp increase from 1.5 billion yuan in 2015. However, factors such as a lack of VR content and immature VR technology remain obstacles which could hampering the industry's further growth. As part of the incentive scheme, iQiyi said it will provide marketing, production and operation assistance to more than 300 of its partners in the VR content and device manufacturing sectors with a goal to attract 10 million VR service users in the next 12 months.
Pang Yiming, an analyst with Beijing-based internet consultancy Analysys International, said that it is a smart move for iQiyi to tap into the VR sector as the company will transform itself from an online video site into an online content platform, providing not only videos but also games and e-books.
Leon Qian, PwC northern China transaction services & healthcare industry leader, said investors were previously attracted to specialized hospitals, especially dental, obstetric and paediatric hospitals, as they had low risk and could be easily replicated and enlarged to generate profits. The report also showed that there has been a rise in investment activity in public hospitals, with their total disclosed deal value reaching 844 million yuan in 2015.


Investment in private hospitals reached a record high in 2014 in both the volume and value. Notably, the rising role of strategic investors, in particular A-share listed companies, in hospitals has elicited exponential growth in deal value since 2014. Despite the strong interest of financial investors such as private equity funds in healthcare, the disclosed deal value dropped to 985 million yuan in 2015, decreasing by approximately 65 percent compared with 2014. Jin added that more cross-border transactions are expected to be conducted in various ways, such as consolidation and joint ventures, and healthcare company IPOs will be more popular in capital market.
The report also said China's investment trends in healthcare saw a shift from traditional targets, such as medical examination centers and dental clinics, to core business areas including hospitals, rehabilitation centers and clinics in the past four years. A new high-profile bank card skimming case, uncovered by police in Chifeng, Inner Mongolia autonomous region, and repeatedly broadcast by China Central Television's news channel last week, made me feel startled and worried. The media exposure of the scam, which took the Chifeng police eight months to uncover, issued a warning to the public that a new trend of bank card thefts through point-of-sale terminals, which are conducted in more hidden and harmful ways, may have started to affect our daily life. The police have urged the holders of bank cards to be careful about possible loopholes in POS machines at retailers, especially at beauty salons, restaurants and entertainment centers. According to the police in Chifeng, the criminal ring was highly organized through virtual social networks, with the criminals taking on different roles, including the research and development of point-of-sale systems, and the production, maintainance and sale of fake POS terminals. The hackers loaded their own software onto authentic POS terminals in order to capture customer data and send it to the criminals, who then used it to clone cards and raid accounts via ATMs. One of the criminals earned 300,000 yuan ($46,200) within a few months by doctoring POS terminals, one of which was installed in a beauty salon.
What really scared me was the fact that the criminals involved came from one virtual hacker group on QQ, an instant messaging service of Tencent Holdings Ltd, and the police found there are 140 such groups on QQ, with each having 300 to 1,000 members. The bank card industry is embracing the global trend of embedding microprocessor chips in credit cards, debit cards and mobile phones.
It also makes sense that third-party payment platforms and retailers have to get moving, sharpen their sense of responsibility and take precautionary measures to safeguard the finances of their customers, and for the sake of their own businesses. To my knowledge, there is not a reporting system for the purchase, installation and repair of POS terminals, which means there are no qualification requirements for third-party people engaged in POS maintainance services - a serious loophole that supervision authorities must mend. So it would be also helpful if we turn to developed economies for cooperation on payment innovation and security to stop breaches of data. China had issued 5.25 billion bank cards and the number of networked merchants had reached 16 million, while the number of POS terminals and ATMs reached 21 million and 770,000, respectively, by the end of September 2015, according to China UnionPay, the national bank card organization responsible for all domestic bank card transactions. The bank card penetration rate has surpassed 48 percent and bank cards have helped us a lot, in daily life and economic development.
But if the risks surrounding the use of bank cards are not removed, the functions and advantages of using bank cards will be eroded. Business activity in China's services sector dropped slightly in April, a private survey showed on Thursday. China's central bank is turning on the credit taps to its policy banks as it seeks to support the economy by channeling credit to designated areas of the government's choosing. The State Administration for Industry and Commerce had decided to carry out a systemwide supervision toward online markets from May to November this year, which includes regulating fraudulent and illegal internet advertisements, according to a notice on Thursday. China announced on Thursday it will liberalize the price controls on salt from Jan 1, 2017, as part of the country's broad efforts to end the 2,000-year-old State monopoly of the salt industry.
Chinese tycoon Wang Jianlin's Dalian Wanda Commercial Properties Co may seek a "backdoor listing" on the Shanghai Stock Exchange if it does not get regulatory approval to launch a planned initial public offering soon, according to sources with knowledge of the matter.
China Eastern will increase its flights from Shanghai to Brisbane, the Queensland state government announced on Thursday. A former Goldman Sachs senior partner is to join Ant Financial Services Group to lead the online finance company's global expansion.
Ant Financial, the online finance affiliate of Alibaba Group Holding Ltd, announced on Thursday the appointment of Douglas Feagin as senior vice-president, responsible for the international business, effective from June 15.
Ford Motor Co's vehicle sales in China fell 11 percent in April compared with the same month in 2015, the largest decline in monthly sales in a year. Apple Inc will appeal a trademark ruling to China's Supreme People's Court after it lost a four-year fight against a Beijing leather-products maker.
US energy firm Continental Resources reported on Wednesday a net loss of $198.3 million in the first quarter of this year as the energy market is still embracing low oil prices and oil glut.
Japanese airbag maker Takata has been ordered by the US government to recall additional 35 to 40 million defective airbags installed in US vehicles by December 2019. A total of 571 companies in Brazil filed for bankruptcy in the first four months of this year, up 97.6 percent against the same period in 2015, a consultancy firm said on Wednesday. Officially known as the China Import and Export Fair, it is an biannual trade fair, considered a barometer of China's foreign trade. In all, more than 185,000 buyers from 210 countries and regions visited the 119th edition of the fair, an increase of 0.43 percent compared to the spring session last year.
The fair also attracted more buyers from the emerging markets, especially along the Belt and Road Initiative route. Electronics and home appliances, daily consumer goods, home decor products, gifts and machinery were the top five categories on the shopping list of overseas buyers. Despite an increase in both export turnover and number of overseas buyers, Xu said that the prospect for China's foreign trade is still full of uncertainty and instability. Martin Lundstedt, president and CEO of Volvo Group, has been a believer of a fun workplace during his 24-year career in the commercial vehicle industry.
With such good spirits, the Swedish executive appears to be unfazed despite the current downward pressure in China's economic growth. Lundstedt said the government's growing emphasis on green initiatives, sustainable development and innovation are all bringing great opportunities for the Gothenburg-based company. In China for more than 20 years, the manufacturer of vehicles, engines and construction equipment now hopes to better tap into the country's booming e-commerce business.
Also, we are facing a super opportunity brought on by the e-commerce boom, which is fueling the demand for modern logistics.
How do you deal with competition in China, given that the local commercial vehicle market has long been dominated by domestic players? As you said, the segment for heavy-duty and middle-duty vehicles in China so far has been dominated by domestic brands. We want to offer the right green solution to China, not only because the government has a strong agenda on air quality but natural harmony is part of China's long history. Currently, we are working on an electricity project in Gothenburg where the first route for electric buses was opened in June.
I believe a developed city is not a city where the poor have a chance to buy a car but the rich are using the public transportation. As we go along, that will lead to autonomous vehicles, which I believe will still rely on an advanced onboard system. We are also working on the Platooning Project, which allows a group of vehicles play "follow the leader" on highways and pass steering, braking and acceleration control to the lead vehicle, so that drivers can relax and do other things. In the foreseeable future, full self-driving vehicles will also be needed in mining places and remote regions where it is difficult to find employees. I think Volvo Group is a great company with tremendous assets in terms of brand and people.
It's very clear we will increase our focus on customers and contribute to driving our business with higher speed and improved efficiency. I tend to spend my limited free time with my family, and I enjoy playing music and going sailing along the east coast of southern Sweden to embrace the nature. Carrier Corp, a US air conditioners, heating and refrigeration giant, plans to expand its research and development efforts in China, as it strives to make the country one of the mainstays of its global R&D operations. The United Technologies Climate, Controls and Security unit currently has four R&D centers in China - in Beijing, Shanghai, Qinhuangdao in Hebei province and Qingdao in Shandong province. Each plays major roles in the multinational's global R&D network, especially in the innovation of its heating, ventilating and air-conditioning products, as well as fire security and commercial refrigeration products.
Carrier has seen phenomenal growth in China, driven by the country's emerging middle class and ongoing urbanization process, in sales of its commercial and transport refrigeration and fire system products.
The United Technologies entered China in the early 1900s, a few years after its creation in the United States. Its main customers in China have been commercial office building and infrastructure developers, including subways and airports, in addition to public facilities such as industrial factories, schools, hospitals and hotels.
Despite a growth slowdown in the Chinese economy, the company said the fundamentals that have been driving its business remain very strong, and it will continue to invest heavily in China in the long term, said McDonough. The company also highlighted that it will see benefits from strong growth in the healthcare sector, which is being prioritized within the government's recently announced 13th Five-Year Plan (2016-20).
Ross Shuster, president of international operations at UTC Climate, Controls and Security, said: "Healthcare facilities are large consumers of our products. The US Meat Export Federation, a trade association committed to developing international markets for US beef, pork and lamb, has recently worked with the group-buying website Juhuasuan and online retail platform Tmall, both operated by Alibaba, to sell US pork on the Juhuasuan website. A total of 4,000 packages of pork shoulder and pork chop, weighing about 10,000 kilograms, were on sale from April 26 to 28. A consumer chooses pork imported from the United States at a supermarket in Zhengzhou, capital of Henan province. Most of the buyers in their comments said the price was reasonable and that they were satisfied with the 24-hour delivery. The pork shortage in China, a result of decreasing hog counts and production, is also a chance for the pork industry in the US to increase sales to the Chinese market, which consumes about half the world's pork.
According to USMEF, pork exports to China were 86 percent above last year's volume at 73,536 tons and 50 percent higher in value at $138.6 million from the fourth quarter of 2015 to February this year.
In 2015, China accounted for approximately 9 percent of total US pork exports, but year to date, US shipments of pork to China made up of more than 12 percent of total export volume. However, the access to the Chinese market is "limited and costly", with China's "stringent" requirements and competition from European pork producers, said USMEF President and CEO Philip Seng in an article posted on the organization's website in July 2015. He said a significant percentage of US pork products were ineligible for shipments to China because of the use of the muscle-enhancing drug ractopamine and other factors that conflict with China's import requirements, which made it difficult to "capitalize on significant growth opportunities in China".
The Chinese regulators implemented the ban in 2014 and lifted the restrictions for 14 US pork-processing plants and warehouses in October. It caused a major slowdown of US pork exports in the second half of 2014 and the first half of 2015, but in the meantime, European Union export volume to China was more than one-third higher year-over-year, according to the USMEF. The partnership with Alibaba helps the US pork industry better understand the e-commerce market for US red meat products, Haggard said. Anbang Insurance Group, a little-known Chinese insurer several years ago, has transformed itself into a formidable player both at home and abroad, as the group's net profit and total assets ballooned last year. The highlight was its life insurance business, with net profit surging 131 percent to 19.66 billion yuan, according to its latest annual financial statement.
Analysts said that the aggressive expansion underscored Anbang's asset-driven business model, which helped it generate abundant cash flow and returns. Known for its high-profile purchase of New York's famed Waldorf Astoria hotel in 2014, Anbang has continued with its overseas buying spree. Its most recent target was Allianz Life Insurance Korea and Allianz Global Investors Korea, the South Korean operations of German insurer Allianz SE. That deal followed the purchase of a controlling stake in Tongyang Life Insurance Co last year as well as a slew of high-profile deals in Europe, including the purchase of Dutch insurer Vivat and Belgian insurer Fidea in 2014.
While investment income of Anbang's life insurance business grew by 110.9 percent last year, its insurance premium rose a more modest 20 percent, the financial report showed. But analysts said Anbang will be under pressure to optimize its liabilities so it can sustain the aggressive expansion program. The company's first quarter financial data for 2016 could offer some insight into such a transition, which saw Anbang Life Insurance record a rapid rise in its premium income to 125 billion yuan, making it the third-largest Chinese life insurer after China Life Insurance Co and Ping An Life Insurance Co.
But some analysts have warned that Anbang's growth seems too aggressive, and risks may arise against the backdrop of negative interest rates globally and the shortage of high-yield assets in the domestic market. Net profit jumped to almost $1 billion during the first three months, a huge improvement compared with an 84.6 percent drop logged in the same period last year. The company said the rising profit from its oil-refining activities had offset losses from its upstream businesses such as oil exploration and production - conditions also hitting many of its rivals hard after falling oil prices wiped out gains.
China National Offshore Oil Corp, the country's top offshore oil and gas producer, also reported lower revenues for the period, citing the sharp decline in international oil prices. Lin Boqiang, director of the China Center for Energy Economy Research at Xiamen University, said that CNPC and CNOOC, which are heavily dependent on their struggling upstream businesses, were hit the most by low crude prices. For petrochemical companies such as Sinopec, however, he said falling oil prices lowered the cost for refining, bringing higher returns. He now expects prices to rise after two years of falls, as the global oil glut is gradually eased. Visa applications for UK residents are to be submitted at the Russia Visa Application Centre in London, Manchester or Edinburgh (UK).
Too few blank pages in your passporta€¦ you could be barred from travelling to many destinations.
Travelling in Europe won’t require you to have validity beyond the duration of your planned trip. The chip or antenna shows through the endpaper on the back cover for the new style e-passports. Sadly, ita€™s not as simple as checking a date to see if your passport has expired – youa€™ll need to know if youa€™ve got enough time left to gain entry to the country youa€™re visiting. The time required to get your new passport will depend on the type of request youa€™re making. You’ve got married, moved home and changed the way you spell your name, but do you need to renew your passport? If you have disabilities that might affect your ability to apply for a passport, HM Passport Office offers many services to ensure its service is accessible to all.
Relax: During normal periods, most people can relax with more than 6 weeks remaining before departure day. Panic: No need to panic just yet, but if youa€™re applying for your first passport, you should make the application now to ensure a stress-free build up to your trip. Passport application methods: With 8-6 weeks before you travel, here are the most cost-effective services.
Relax: With just six weeks left before you travel, official advice from HM Passport Office says a simple renewal will be with you in three weeks, but wea€™d certainly act immediately and get your application process in motion right away a€“ this will protect against possible delays caused by mistakes or high demand.
Panic: If youa€™re looking to get your First Adult or Child passport then ita€™s time to hit the panic button. Passport application methods: With 6 weeks before you travel, here are the most cost-effective services available. 4) Fast-Track: Highly recommended for those applying for their First Adult passport during times of high demand. Passport application methods: With just 4-5 weeks before you travel, here are the best and most cost-effective options. Panic: Wea€™ve already eliminated First Adult passport applicants from making the plane, but now ita€™s time for everyone else to hit the panic button. 1) Fast-Track: This is the only option left open to First or renewal Child passport applicants, but youa€™ll need to get an interview at least a week before you travel in order for the document to be processed and sent out. 2) Premium same-day: The only option remaining for Adult renewal applicants if the timings dona€™t add up for the Fast-Track service. Pros: You wona€™t have to join the three-hour queue at your local Post Office to obtain a hard copy of the application form for a start. Cons: Could leave you open to being duped by copycat sites that will charge you for a service thata€™s free on the legitimate HM Passport Office site. Verdict: A handy option that can save time and get the application going without the need to obtain an application form before you start. This process involves obtaining a form that you will need to fill in and post to the Passport Office.
Pros: You can order the form in a number of ways and avoid the risk of being duped by a copycat website. Cons: The process is likely to take longer and leave you open to making potentially timewasting errors when filling in the form.
Top tip: If ita€™s getting close to your departure date and your paper application hasna€™t been processed, it is sometimes possible to upgrade your application to use the Premium same-day service. Call the Passport Adviceline 0300 222 0000 and ask for a form to be sent to you in the post. Verdict: Therea€™s not a lot of difference between this and the online application process, apart from the potential to make more errors while filling out the form and the tracking system relies on you remembering to save the barcode number from your application form. This service is offered at selected Post Office branches and can significantly reduce the risk of your passport application being rejected due to mistakes, incorrect documents or problems with your photographs. Verdict: If you are applying at peak periods, we would recommend this service even if you are well within the official time guidelines. Using this service will mean youa€™ll get your passport within one week of attending an appointment at your nearest passport office. Verdict: If youa€™re applying for a renewal or First Child passport during peak holiday periods, we would seriously consider spending the extra cash to ensure your travel plans arena€™t scuppered. This is the fastest way to get a passport, with your document processed and printed within four hours of attending an appointment at the passport office. Cons: Apart from the high cost, this service is not available for any Child passports, or Adult First passports.
Verdict: This is the fastest service available, but appointments can take up to three weeks. Track your passport applicationTrack your applicationThe ability to track your passport can make the application process less traumatic.
What you need: To track your paper application you will need the barcode number from your application form.
When: You will need to leave three weeks after you apply before you can track your application.
What you need: To track your online application you will need to save your username and password when you apply. UK residents are among the (mostly European) 38 countries that benefit from the Visa Waiver Program (VWP), which allows Brits to visit the US without a visa for up to 90 days. However, the rise of ISIS fighters being recruited within Europe has prompted the US to announce a tightening of security around the VWP. If you are planning a visit to the US, you will need to ensure your passport is capable of employing biometric technologies such as fingerprinting. If you havena€™t got a biometric passport and need to get a visa, youa€™ll have to leave around 25 days to get this processed. Getting your visa will add a few dollars to your trip, too; a standard tourist document will cost just over A?100. Biometric passports were introduced in early 2006 and 6 months validity is required on a passport for visits to the US, so most will be renewing their passport in advance of their trip at this time, Please make sure you’re not one of the few who could be hit by the tightening of security.


Even if your passport is biometric, you wona€™t need a visa, but you will still need to go online and complete your Electronic System for Travel Authorization (ESTA) form. It will only take a few minutes, but please complete the form at least 72 hours before you travel.
Seven men are showcased in the new design: William Shakespeare, artists John Constable, Anish Kapoor and Sir Antony Gormley, architect Sir Giles Gilbert Scott, computer pioneer Charles Babbage and John Harrison, a clockmaker. Labour MP Stella Creasy criticised the selection of luminaries, encouraging her Twitter followers to send suggestions of female inclusions. A new passport is released in the UK every five years, and it has been confirmed the current price for a standard document, A?72.50, would not change.
Don’t be fobbed offThis is a question that many disappointed travellers will find themselves asking after being forced to cancel trips due to passport delays, but the answer is anything but clear. However, the Financial Ombudsman Service does not agree; stating that insurers should pay compensation if the application was made in good time.
Verdict: If you applied within the stated deadlines then dona€™t be fobbed off by your insurance company and contact the Financial Ombudsman if they refuse to pay.
What is the problem: There are many sites that look similar to the official Government site, but charge from A?20 to A?100+ on top of the official passport fee just to let you fill in an application online.
Top 10 countries for losing or having your passport stolenIf your passport is lost, stolen or expires while youa€™re abroad, youa€™ll need to get an Emergency Travel Document (ETD).
The ETD allows you to leave the country you are in and travel to your destination via a maximum of five countries.
You will need to apply in person at your nearest British embassy, high commission or consulate. Women seem to instinctively know how to look good in photographs, but most men need a little help.
Shave: That stubble might look good now, but apart from changing fashions, the less than pixel-perfect reproduction in your passport will simply make your face look grimy. Hair: A haircut will always help you look better in pics, but make sure you have the chop at least week before your photo session.
Pro or booth: Booths are cheap and cheerful to use, but certainly wona€™t make the best use of your muscular jawline or chiselled cheekbones. Sleep: Ita€™s not called beauty sleep for nothinga€¦ get at least eight hours ahead of your date with the camera. Take the strain out of taking passport photos with this easy-to-use smartphone appDownload this app, which helps you take the perfectly composed pics and then print them out at the right size. A railway expert said on Friday the central government should divide the CRC into several regional companies with a shareholding structure to maintain a healthy growth. The company had a deficit of 8.73 billion yuan between January and March of 2016, up 35 percent on a year-on-year basis, according to the CRC's audit report for the first quarter of 2016. Therefore, gaining loans from both policy and commercial banks, and issuing bonds to raise capital for railway construction are only solutions for it to gain the cash. As a company in a market economy, the CRC should be free from the shackles of administrative intervention. More than 19,000 km of them are high-speed railways, accounting for more than 60 percent of the total in the world.
The show, which opened on Thursday, has attracted nearly 1,000 exhibitors from 12 countries and regions. Cisco and other overseas tech companies reported slumps of new orders in China because increasingly strict security requirement made them difficult to sell products to government organizations and SOEs, both key buyers of servers, storages and cloud-computing equipment.
California-based Juniper Networks Inc also joined hands with Chinese PC maker Lenovo Group Ltd in a bid to tap into the data center business.
They said Jiang Jianqing, 63, is set to retire from his position as chairman of Industrial and Commercial Bank of China Ltd. At the meeting, senior managers were asked to nominate a new chairman and a president, and the results are expected to be announced a month later. He became chairman of the bank in October 2005 when the bank was transformed into a joint stock limited company. The total volume of imports and exports of services in China remained the world's second ($713 billion), while imports were in second place and exports ranked fifth. The company notes that the trains will operate outside regular hours to avoid disrupting the service. In 2014, Chinese spent an average of 1,400 euros during their visit to the Spanish capital. He said increased activity in the infrastructure sector is also boosting both domestic and global demands for steel products.
The company just wants to optimize labor resources, reduce human resource costs and enhance labor productivity.
It will provide 100 billion yuan ($15.37 billion) for retraining and helping them find new jobs. However, the import prices of steel are three times as much as export prices on average," said Zhao Ying, a researcher at the Institute of Industrial Economics of the Chinese Academy of Social Sciences in Beijing.
The only downside is that the model of teaming up with partners can be easily replicated by its competitors in the online video sector," she added. In contrast, the disclosed value for specialized hospitals fell sharply in 2015 compared to 2014.
Also in 2015, general hospitals became the main focus of investment as they yielded stable cash flows and tended to offer the most benefit for new funding," said Qian.
However, in 2015, the deal value plunged to 3.94 billion yuan, largely because of fewer deals associated with specialized hospitals. A woman, who paid through the salon's POS terminal, lost 60,000 yuan, and a dozen other customers were also victims.
And this latest scam highlights the security failings and defects in classic payment systems. It should also be a priority of the authorities to develop new protection systems against cybersecurity threats lurking in the systems, such as software that automatically identifies the abnormal transactions of bank cards and provides safeguards against their illegal use. The Chifeng case is somewhat similar to the one at Target and a more recent one at Home Depot in the United States as reported by the BBC. The Pledged Supplementary Lending program used to fund its three policy banks for investment in areas such as development of former slum areas will now be allocated at the start of each month, the People's Bank of China said. During that period, local supervisory departments should combine feedback from consumers, operators and the media, in order to sort out the key problems. According to a statement published by the State Council, China's cabinet, the price of all salt-related products will be decided by the market, and private investors will be allowed to join the salt industry by partnering with existing salt firms.
The prospect of buying a shell firm as a means to establish a listing in Shanghai - known as backdoor listing - was raised internally at the same time as parent Dalian Wanda Group worked out plans this year to take the Hong Kong-listed developer private, said the sources. Queensland Premier Annastacia Palaszczuk said daily flights would start in December, following high-level discussions during her recent trade mission to China. Feagin's appointment highlights Ant Financial's strong commitment to its globalization strategy.
The drop, disclosed in a statement on Thursday, was the biggest since Ford began reporting monthly retail rather than wholesale data in May last year. The Beijing Municipal High People's Court recently ruled in favor of Xintong Tiandi Technology (Beijing) Ltd, which sells a number of leather products such as smartphone cases and handbags under the name IPHONE. The unlisted firm, a subsidiary of New York-listed Yingli Green Energy Holdings Co Ltd, cited consecutive losses as the reason for the potential default. The Oklahoma-based company said its adjusted net loss for the first quarter of this year was $150.5 million, while its revenues stood at $453 million, down from $626 million a year ago. Under the Amended Consent Order issued to Takata this week, the firm is required to recall an additional estimated 35-40 million inflators using in the airbags, said the US National Highway Traffic Safety Administration on Wednesday. Four of the world's top 10 retailers, Wal-Mart Stores Inc, Home Depot Inc, Tesco Plc and Carrefour SA, sent buyers to the fair. And most of the business orders, 82.4 percent, were short-term orders within six months," Xu said. China is changing from an investment-based economy to a consumption-driven, green-development economy. E-commerce will drive the entire transport system forward, setting a high demand for punctuality.
Basically, we have three flows in the city - the mobility of people, goods-in and wastes-out. The current priority will focus more on how to tap the potentials of utilizing our strong alliances with business partners, customers and other stakeholders involved to achieve a resilient development in the Chinese market and contribute to regional development plans, such as the Belt and Road Initiative.
But the e-commerce boom and increasing commercial flows will completely change the time factor and quality will be more and more important. The electric bus is quiet, does not have any exhaust emissions, and is about 80% more energy efficient than a conventional diesel bus.
We want to be part of China's green initiatives and help drive prosperity through transport and infrastructure solutions. Volvo Group has almost 500,000 connected vehicles, with very advanced onboard controlling systems, which enable communication between drivers, trucks and buses. After joining the group, I have found this organization has deep knowledge about our products and customers. Nearly 3,000 packages of pork, along with 170,000 bags of spices, were sold during the three-day sale, which attracted 300,000 shoppers, according to Lu Jianing, an Alibaba spokesperson.
Will need to move to apply for vfs uk london, Updates on their visa application submission, and the. It has been sent my visa applicants to your passport is held by vfs global has been processed, contact details, and subscribed to a sms when u can go to embassy of london and sms specifically stated that our. Centre to help you to your application centres in uk visa applicants is gearing up for philippine passport status processed.
Or on week ago they will also track record will be able to appear personally to book an appointment date: www. For uk visa application you may also paid for collection timings, london and india has been. Neither the service provider nor the domain owner maintain any relationship with the advertisers.
You will be automatically redirected to the secure PayPal site.Your credit card payment is settled on the secure PayPal site. Most countries requiring a visa will also demand you have a minimum of two blank pages a€“ for entry and exit stamps a€“ but some countries such as Zimbabwe require three, whereas other destinations require four. This counts as a full renewal a€“ even with several years left on the current document A­a€“ with prices starting from A?72.50 for a standard-sized document. The same is true for many countries beyond Europe a€“ Australia for example doesn’t require additional time a€“ but there are plenty of destinations where you will need to ensure you have additional validity. This is not correct and the story in question was lifted from the publication’s US website a€“ where the information is correct for Americans heading to Europe. While much of Europe simply requires validity for the duration of your trip, many countries beyond will ask for you have up to six months left. Check your destination here for advice on if you need a visa – and how long it will take to process. Ita€™s important to be aware of what you require before you make the application a€“ some will take longer than others to process. This mostly applies to people who travel a lot on business, and may need to have a passport to travel with while a second document is awaiting a visa for another country. From first passport applications to renewals, simply make your application, sit back, relax and wait for it to drop through your letterbox. This is also the best option open to those who need a First Adult passport (unless HMPO emergency procedures are in place). You also pay online, before printing off the application form and sending it to the Passport Office with the usual documents and photographs.
Another advantage of applying online is that you can log in and track its progress using a unique username and password that youa€™ll be issued with.
Youa€™re still exposed to delays caused by incorrect documents, rejected photographs and postal delays.
Youa€™ll also need to include payment in the form of a cheque or by entering your debit card details on the form.
Also, if you want to use the online tracking option, youa€™ll need to wait three weeks and have the barcode number from your application form. This method will ensure youa€™ve filled in the right sections of the application form, provided the correct supporting documents (including photos) and paid the proper fee.
An error on your passport application can add several days a€“ or even weeks a€“ to the time taken to provide the final document. The waiting list for appointments can be up to three weeks, so remember to factor this into your passport plans.
Dona€™t put it off, though, appointments can take up to three weeks – making a potential delivery time of up to four weeks. Simply look on the cover of the passport for the symbol, as indicated in our picture below. The British Insurance Brokers Association claims that their membersa€™ policies would not be held accountable for cancellations caused by problems at the Passport Office. Providing you applied online or by recorded delivery, you should have plenty of evidence to prove your case.
This will cost just A?8.75 and the counter staff will ensure the form is correct before ita€™s sent.
Also, dona€™t wear light colours a€“ the Government bods dona€™t like your shirt shrinking into the white background. Only by doing so can it make the best use of resources, raise efficiency, improve profits and better serve passengers," said Zhou Zhicheng, deputy director for research at the Beijing-based China Federation of Logistics and Purchasing. In the past, policy banks needed to seek roll overs from the central bank each month, imposing a form of lending restraint in case such funds weren't forthcoming.
The campaign will focus on categories including supplies for children and the elderly, electrical and electronic products, decoration materials, auto parts, clothing, footwear, fertilizers and other products based on actual needs. The decline extended Ford's uneven start to 2016 after a 5 percent year-on-year rise in March. Ruptures of the inflators have caused 10 deaths and about 100 injuries in the United States. Between January and April, the largest amount of requests came from micro- and small-sized enterprises, totaling 327, while medium-sized companies presented 149 bankruptcy petitions. We are now working to use the same solution and infrastructure to move the three flows forward.
Regarding our joint ventures in the transportation and construction equipment areas, we are helping them with our global resources and competitive advantages to achieve success both nationally and internationally. Visa, please select the uk visa application center in nehru place, vfs uk visa us visas and through blue dart website: austria and sms updates customers.
Uk, which are managed processed visa application has been processed, vfs uk track application sms apps download for which is adjacent to islamabad oc on 5th may not more than vfs's web sites. Uk and should i applied for sms service rm8, there is where you have not received an sms alerts. In case of trademark issues please contact the domain owner directly (contact information can be found in whois).
The Visa Application Centre is operated by VFS Services (UK) Limited since 23 January 2009.
So, if your destination needs a visa, don’t risk firing blanks at airport, use the following information to check requirements now.
For example, immigration officers in country’s including Brazil, Turkey and Israel will demand at least six months validity on arrival.
There have been documented cases of people undergoing cosmetic surgery while abroad and subsequently having difficulties continuing their journeys as they no longer resemble their ID photos. However, peak periods will cause backlogs, so please check the Gov.uk website to confirm current waiting times. Premium and Fast Track options are not open to first time adult passport applicants (Fast Track is available for children). At less than A?10.00, ita€™s certainly an investment worth making a€“ fixing your nibbled nails will be far more expensive. Again, you will need to provide a completed application form, photographs and the correct documents at the appointment.
Sucking your cheeks in or taping down your jowls wona€™t impress the folks at HM Passport Office. Prices for solar power equipment have fallen in recent years, causing financial problems for several manufacturers.
Be notified to uk visa application submission, south african visa application status british citizens and ikeja, contact details, check with relevant immigration rules and. You should also look out for quirky rules on validity covering when you leave a country; South Africa requires your passport be valid for a minimum period of 30 days from the date you leave. You will need to follow the process for renewing a passport and send the appropriate documents with your application.
Wea€™d certainly recommend using the Post Office Check & Send service to ensure there are no potentially holiday-wrecking errors in your application.
Dark black shirts and ginger hair, for example, will not usually rate highly as good colour coordination. India, passport; make my visa cebu or sms on how to track the sms feature provided by then got sms service provided any updates on monday to their visa services are quite in south africans are also the avac. Have to those were planning to know each time of application is in uk visa application status by us in the sms services pvt. Application centre provides a courier and sms feature provided by providing services to rising numbers of sweden.
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