CBI MEMBER MILESTONES IN CHINA
2014 SNAPSHOT: YEAR OF THE HORSE
CBI BEIJING JANUARY 2015 Financial services
2 Table of Contents (by sector)
Architecture and design……………………...... 5-6 Automotive……………………………………………………………………………………………7-11 Aviation………………………………………………………………………………………………….12 Banking and financial services………………………………………………………………….13-14 Car rental services…………………………………………………………………………………….15 Chemicals……………………………………………………………………………………………....16 Consumer goods………………………………………………………………………………………17 E-commerce…………………………………………………………………………………………….18 Education………………………………………………………………………………………...... 19-24 Energy………………………………………………………………………………………………..25-27 Fashion and beauty……………………………………………………………………………………28 Film……………………………………………………………………………………………………….29 Flight services……………………………………………………………………………………...30-31 Food and beverage………………………………………………………………………………..32-33 Gaming……………………………………………………………………………………………...... 34 Healthcare……………………………………………………………………………………………….35 Hospitality……………………………………………………………………………………………….36 Information and communications technology (ICT)………………………………………...37-38 Insurance………………………………………………………………………………………………..39 Legal………………………………………………………………………………………………….403- 42
Table of Contents (by sector)
Logistics…………………………………………………………………………………………………43 Marine……………………………………………………………………………………………………44 Media……………………………………………………………………………………………………..45 Mining…………………………………………………………………………………………………....46 Nuclear…………………………………………………………………………………………………..47 Professional services………………………………………………………………………….....48-49 Real estate………………………………………………………………………………………………50 Recruitment……………………………………………………………………………………...... 51 Retail……………………………………………………………………………………………………..52 Steel………………………………………………………………………………………………………53 Transport………………………………………………………………………………………………..54 Yachts…………………………………………………………………………………………………....55
4
Architecture and design
Arup celebrated its 30th anniversary in mainland China, having first started its ventures in the early 1980s with Hilton Shanghai, Shaojiao power stations, and Guangzhou-Shenzhen-Zhuhai super-highway projects helping to establish its foothold—today, after some 800 projects, Arup has more than 900 staff based in seven offices across the country...
Atkins was appointed by China Communications Construction Company to provide architecture services from concept through to extended preliminary design stage for the new Window of Canton development in Guangzhou…
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Architecture and design continued…
Benoy announced that it was the interior designer behind Vanke Plaza, the first shopping mall for China Vanke, in Beijing—Vanke Plaza follows on from the success of Benoy’s portfolio in Beijing, which includes the award-winning EAST Hotel and the mixed-use INDIGO development, which both opened in 2012…
John McAslan + Partners was commissioned to design a vast Botanical Gardens and Research Centre in Dongguan for China Vanke…
Mott MacDonald announced that the West Island Line, an extension of the MTR metro system in Hong Kong, had officially opened—Mott MacDonald had been involved with the project since 2009… 6
Automotive
Bentley Motors announced the next phase of its race-winning Continental GT3 programme, with the signing of a partnership with Absolute Racing in China—the Continental GT3 made its Chinese race debut in the Shanghai round of the GT Asia series, achieving second place in the 11th round…
Bentley Motors announced that China remained its second biggest market, with 2,670 cars delivered in total over the year, up from 2,191 units in 2013…
Ford Motor Company’s sales accelerated past the half-million mark in the first half of 2014, reaching a record 549,256 vehicles, up 35% compared to the same period in the previous year…
7
Automotive continued…
GKN Powder Metallurgy signalled its commitment to the Chinese market with the expansion of its production facilities in both Danyang and Yizheng—GKN’s existing Danyang facility produces highly engineered powder metallurgy parts primarily for automotive engines and transmissions while its new facility in Yizheng produces small precision parts mainly for automotive applications in engines and body and chassis…
Jaguar Land Rover opened its first overseas manufacturing plant in the Changshu Economic Development Zone north of Shanghai—by 2016, the facility is expected to be building three Jaguar Land Rover models, with total production capacity of 130,000 units a year…
Jaguar Land Rover sold 122,010 vehicles in the China region in 2014, up 28% compared to the previous year… 8
Automotive continued…
Jaguar Land Rover launched the Dream Fund, together with the China Soong Ching Ling Foundation—with a donation of RMB 50 million (US$7.9 million) over three years, the fund supports local programmes for China’s young people, particularly disadvantaged children and youth…
Jaguar Land Rover organised the Sino-U.K. Football and Culture Exchange, which saw more than 50 football-playing Chinese students travel to the U.K. as part of the Jaguar China Youth Football Development Initiative…
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Automotive continued…
Jaguar Land Rover continued to support Jaguar Land Rover Hope School in Ya’an, Sichuan Province—Jaguar Land Rover China President Bob Grace visited the school to check on the progress of reconstruction and meet with students…
Jaguar Land Rover launched its new “Land Rover Never Stops Caring—Journey for Vision” programme in China—the initiative plans to provide free professional medical services to children in remote areas over the next three years as well as offer training for local doctors and funding for improved medical equipment…
10
Automotive continued…
Unipart Group announced that Unipart (Suzhou) Logistics Company Limited had agreed to a five-year, full-spectrum aftermarket logistics contract with Chinese car manufacturer Qoros Automotive Company Limited, which is located in Changshu—Unipart’s new business with Qoros marks another major step forward in the country for Unipart and an important entry into the domestic Chinese automotive logistics arena…
11 Aviation
Airbus and China Aircraft Leasing Company signed a Memorandum of Understanding for 100 A320 Family aircraft…
Boeing and Xiamen Airlines celebrated the delivery of the airline’s first 787 Dreamliner—Xiamen Airlines is China’s only all-Boeing carrier and, in November 2013, the airline took delivery of its100th Boeing airplane…
Rolls-Royce and the Civil Aviation Administration of China (CAAC) signed an agreement in Beijing to extend collaboration on their pioneering training programme for another 10 years…
Thales announced that China Southern took delivery of the first Boeing 777-300ER aircraft equipped with the new generation Thales in-flight entertainment and connectivity system, making China Southern the launch customer for the world’s most advanced Thales passenger system… 12
Banking and financial services
HSBC China opened its 30th branch in the country, located in Nantong, making HSBC the first international bank to enter the port city in Jiangsu Province…
HSBC China launched its sub-branch in the Shanghai Free Trade Zone, focusing initially on servicing corporate customers with cross-border financial needs in the pilot zone…
Standard Chartered opened its branch in Kunming, Yunnan Province—as the 26th branch in its China franchise, the Kunming branch marks an expansion of Standard Chartered’s coverage in Southwest China…
13 Banking and financial services continued…
Standard Chartered unveiled its credit card business in China, combining both international and local features…
Standard Chartered opened its sub-branch in the Shanghai Free Trade Zone, offering comprehensive domestic and cross-border RMB as well as foreign currency financial products and services to a wide range of enterprises and financial institutions in the zone…
The Royal Bank of Scotland began offering RMB Cross-Border Cash Pooling for multinational companies registered in the Shanghai Free Trade Zone, enabling them to integrate their China onshore RMB cash flow with their regional and/or global cash pools…
14 Car rental services
The Hertz Corporation announced that it was poised to enhance its presence in China as its local car rental partner, CAR Inc., used an initial public offering in Hong Kong to increase its rental fleet—Hertz acquired a 19% stake in CAR in April 2013…
15 Chemicals
BASF announced that BASF Crop Protection inaugurated its first formulation and packaging plant in Yangkou Chemical Industrial Park in Jiangsu Province, strengthening BASF’s strong commitment to support the development of agriculture in the Asia-Pacific region…
INEOS announced that INEOS Phenol and Sinopec Yangzi Petrochemical Company agreed to form a 50/50 joint venture that will be called INEOS YPC Phenol (Nanjing) Co. Ltd.…
Lucite International’s Acrylic Design Competition, first launched to students at some of China’s most prestigious fine arts universities six years ago, attracted 175 entries from young designers at six Chinese institutes in 2014…
16 Consumer goods
Unilever announced that it had acquired a majority stake in Qinyuan Group, a leading Chinese water purification business—the Unilever Pureit water purifiers and the Qinyuan range offer different and complementary performance and price points and will enable the combined business to offer a complete range of products…
17 E-commerce
Amazon.com announced that sellers on Amazon sold a record-setting more than two billion items worldwide in 2014, with China and Hong Kong-based sellers with international sales growing 80% year-over-year…
18 Education
Cardiff Metropolitan University opened its Beijing office to develop strategic partnerships with Chinese institutions for joint research, staff and student exchange, and joint programmes…
Cardiff University and Beijing Normal University agreed to develop a new Joint College, which will be home to a flagship dual degree programme in Chinese studies, allowing students to study two years in Cardiff and two in Beijing…
Cheung Kong Graduate School of Business partnered with the International Institute for Management Development to offer a Dual Executive MBA…
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Education continued…
Coventry University launched a dual degree programme in China, delivered in collaboration with the South West University of Political Science and Law…
De Montfort University opened its Guangzhou Regional Office to support Chinese students thinking of studying at DMU and to help develop further international activity in the region…
Gabbitas arranged for top Chinese entrepreneurs to visit leading independent U.K. schools and gain insights into British education and the independent school system…
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Education continued…
Harper Adams University hosted guests from the Chinese Embassy in the U.K., outlining the university’s collaborations in China and leading a campus tour…
King’s College London announced that PhD students from across the world had combined to work together on pioneering cancer treatment research at a special summer research school in China— the school marked the first collaboration between King’s, Peking University, and Keio University…
Pearson released its results for the first half of 2014, reporting that, in China, Global Education, its test preparation services for English language and vocational qualifications, had performed strongly…
The University of Birmingham signed an agreement with BGI, the world’s largest genome research institute, to create the Joint Centre for Environmental Omics between the two institutions… 21
Education continued…
The University of Bradford signed an agreement with Peking University to establish a joint programme in digital health innovation and signed a Memorandum of Understanding with Sichuan University that paves the way towards a revised agreement that will build on student recruitment activity as well as the strong research links established under the Bradford Science Bridges programme…
University College London received a delegation from Peking University to discuss existing and future collaborations across a range of subjects, including engineering, medicine, and the arts…
The University of Bath sent a delegation to Zhejiang University to discuss a variety of approaches to strengthen research links between the two institutions…
22 Education continued…
The University of Exeter sent its largest ever delegation from one single college to China…
The University of Manchester’s Business School sponsored the Chinese Investor of the Year Award at the 2014 British Business Awards…
The University of Nottingham celebrated the 10th anniversary of the University of Nottingham Ningbo China (UNNC)—UNNC became China’s first Sino-foreign university when it was formed in 2004…
23 Education continued…
The University of Portsmouth held a ceremony in Shanghai for students from China to celebrate their graduation success...
The University of Sheffield was chosen by the U.K. government to lead a pilot project to connect British companies with more than 70,000 Chinese-speaking graduates from U.K. universities through GREAT Ambassador internships…
The University of Warwick and the University of Glasgow signed a Memorandum of Understanding with Sun Yat-sen University in Guangzhou to offer student exchanges—the University of Glasgow will be welcoming medical exchanges, while the University of Warwick’s student exchanges will be in the areas of systems biology, nursing, digital pathology, and integrated healthcare systems… 24
Energy
AVEVA acted as an exclusive platinum sponsor to participate in the China (Beijing) International Offshore Oil and Gas Technology Conference, showcasing its new technologies and products as well as discussing its management experience in the oil and gas industry and forecasting the future of the industry driven by technology innovation…
BP and China National Offshore Oil Corporation (CNOOC) announced a heads of agreement for the supply of up to 1.5 million tonnes of liquefied natural gas per year over 20 years starting in 2019…
BP supported a major exhibition celebrating China’s Ming Dynasty at the British Museum…
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Energy continued…
Shell celebrated its 120th anniversary in China…
26 Energy continued…
Shell increased its retail footprint in Guangdong Province through a new joint venture with Shaanxi Yanchang Petroleum…
Shell announced a frontier exploration discovery offshore Gabon, West Africa—the well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre- salt reservoir, and Shell is proud to be sharing this success with CNOOC Limited, its partner in the licence…
27 Fashion and beauty
Burberry celebrated the launch of its new Shanghai flagship store, Burberry Kerry Centre, as well as the start of a new collaboration with Alibaba, with the opening of the official Burberry Tmall.com store…
L’Oréal announced that its acquisition of Magic Holdings, a specialist in cosmetics facial masks, marked the firm’s biggest investment in the Chinese beauty market and further strengthened the Group’s leadership position in the world’s third-largest beauty market…
Ted Baker released its annual results for the year ended on 25 January 2014, reporting that it opened two further stores in Shanghai and three concessions through leading department stores and also opened an outlet store in the city…
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Film
The British Film Institute (BFI) held a year of business, trade, creative, and cultural collaborations between the U.K. and China—BFI specific activity, entitled ‘Electric Shadows’, encompassed the BFI’s full range of exhibition, archive, digital, education, theatrical, and DVD distribution and publishing initiatives, opening up previously hard to see Chinese cinema to U.K. audiences and making U.K. film accessible to China…
Pinewood Studios and The Open University unveiled a new partnership at the Technology Innovators Forum in Qingdao, which brought together leading creative and innovative industries from around the world—both parties agreed to work together on a free new online course… 29
Flight services
British Airways celebrated the first anniversary of its direct flight service between Chengdu and London, the only non-stop service between Chengdu Shuangliu International Airport and London Heathrow…
Heathrow Airport Limited announced that it had been awarded a new Charter mark in recognition of its warm welcome to Chinese visitors—the GREAT China Welcome Charter was launched in March by VisitBritain to make Britain the destination of choice for the Chinese market…
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Flight services continued…
Gatwick Airport welcomed Air China back for its summer season, offering passengers a four- weekly direct service to the high growth market of Beijing…
Manchester Airport Group sent a senior delegation to China, together with Beijing Construction Engineering Group, Industrial and Commercial Bank of China, the British Embassy, Argent, and Midas, showing potential occupiers looking to expand into the U.K. the benefits of the landmark, five million square foot Airport City Manchester development…
Virgin Atlantic Airways and its partners launched the GREAT British Online Film Festival in China, which brought an array of over 50 top British features and short films to netizens across China via video portal LeTV…
31
Food and beverage
The Coca-Cola Company began a decade-long programme in partnership with Tsinghua University in Beijing that will include business courses, research into marketing, and faculty development…
PepsiCo announced that Shanghai Disney Resort had selected it and Tingyi Holding Corporation as the primary beverage suppliers to the resort as part of a broad beverage and marketing alliance…
Starbucks Coffee Company announced a US$3 million investment in China by the Starbucks Foundation spanning three years, including US$5.1 million to the China Soong Ching Ling Foundation, to develop future leaders in the country…
Starbucks Coffee Company reported on how it is building a brand in China one store at a time…
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Food and beverage continued…
Tate & Lyle celebrated the opening of a newly acquired polydextrose dietary fibre manufacturing facility in Nantong, Jiangsu Province—Tate & Lyle will be investing in the Nantong facility over the next two years to expand capacity and enhance its specialty fibre product offering…
Whitbread reported a strong 2013/14 expansion by Costa in China, where it operates two joint ventures—during the year, Costa opened 73 new stores in China, taking its total number of stores to 326 in 30 cities…
33 Gaming
Microsoft announced that, in partnership with BesTV New Media Company, a subsidiary of Shanghai Media Group, Xbox One would launch into China in September…
34 Healthcare
Alliance Boots completed its acquisition of a 12% stake in Nanjing Pharmaceutical Company Limited—in September 2012, Alliance Boots announced its intention to invest in the company through a private placement, for a total consideration of approximately £56 million (RMB 560 million)…
AstraZeneca and Tianjin Medical University signed an agreement on cardiovascular research collaboration in China…
Elekta announced that men with prostate cancer would be the first group of patients in China to benefit from the clearance of Elekta’s Clarity soft tissue visualisation system by the China Food and Drug Administration…
35 Hospitality
InterContinental Hotels Group successfully concluded its 30th anniversary celebrations in China by winning the British Company of the Year Award at the British Business Awards in Beijing—IHG was the first international hotel company to enter the China market in 1984, and today it is the largest one in Greater China…
36 Information and communications technology
Alcatel-Lucent announced that China Telecom, China Unicom, and China Mobile, the three biggest telecommunications service providers in China, each chose its 7950 XRS (Extensible Routing System) for their IP-based core networking needs in order to meet rapidly accelerating demand for fixed and mobile broadband access in China…
BT’s partnership with Tsinghua University in Beijing is creating a supply chain centre of excellence that focuses specifically on supply chain security…
Huawei’s Chairwoman of the Board, Ms. Sun Yafang, met with Dr. Vince Cable, U.K. Secretary of State for Business, Innovation, and Skills at Huawei’s headquarters in Shenzhen…
37 Information and communications technology continued…
IBM launched its ‘Green Horizon’ project to help China deliver on its ambitious energy and environmental goals— led by IBM’s China Research Laboratory, the initiative will tap into the company’s network of 12 global research labs and create an innovation ecosystem of partners from government, academia, industry, and private enterprise…
Philips and Alibaba Group announced that both companies had entered into a framework agreement for IT-infrastructure services in China—through its Alibaba Cloud Computing (AliCloud) division, Alibaba Group will support Philips with cloud computing services to store and process the data of certain of Philips’ new connected products and solutions in China enabled by Philips’ HealthSuite Digital Platform…
38 Insurance
Bupa announced that Hang Seng Bank had entered into an exclusive 10-year distribution agreement with the international healthcare company—under the agreement, a range of bespoke Bupa medical insurance products and services will be available to Hang Seng personal and corporate customers in Hong Kong and mainland China through the bank’s branches and direct channels…
Lloyd’s of London announced that the Chinese government had awarded Lloyd’s China a licence to establish a branch office in Beijing, which will enhance local access to international specialist (re)insurance expertise…
Lloyd’s of London received a visit at its headquarters from Mr. Liu Xiaoming, Chinese Ambassador to the U.K., who held discussions with John Nelson, Chairman of Lloyd’s of London…
39
Legal
Clifford Chance announced that it had advised a consortium of investors, including Credit Suisse, New World, Baosteel, and CCB International, on their US$151 million investment in Chonghou Energy Resources Limited, the holding company of Qipanjing Company Limited, which owns and operates a number of coking coal mines in Inner Mongolia—this was one of the largest investments in the mining sector in China this past year…
DLA Piper announced that it had advised MoboTap Inc. on an investment transaction with Changyou.com Limited, a leading developer and operator of online games, for nearly US$100 million—Changyou is an important investor in China’s online sector and now operates some of the most popular online games in the country…
Eversheds announced that it is advising Garden of Ideas Limited to develop potential sites in China for a new cultural attraction…
40
Legal continued…
Freshfields Bruckhaus Deringer announced that it had advised a consortium of bookrunners on the US$3.7 billion initial public offering (IPO) of Dalian Wanda Commercial Properties Company Limited, which was the largest IPO to take place in Hong Kong during the 2014 calendar year…
Herbert Smith Freehills announced that it had advised China Telecom Global in relation to its role in a consortium which agreed to build and operate a new Trans-Pacific submarine telecommunications cable worth approximately US$300 million…
Linklaters announced that it had advised the Hong Kong Exchanges and Clearing Limited (HKEx) over the past year and a half on the establishment of the Shanghai-Hong Kong Stock Connect…
Norton Rose Fulbright announced that it had advised Chinese construction company CNQC Development Limited in an acquisition of 75% of the issued share capital of Sunley Holdings Limited… 41
Legal continued…
Pinsent Masons announced that it had advised Tan Chong International Limited on its tender offer to purchase an approximate 28% interest in Zero Company Limited, a Tokyo Stock Exchange listed company, for approximately HK$305 million (£23 million)…
Simmons & Simmons announced that it had advised Arthur J. Gallaher, the fourth largest insurance brokerage in the world, on its proposed establishment of a joint venture insurance brokerage firm with China’s Jiang Tai Insurance Brokers—the joint venture will operate as Jiang Tai Re, with its initial offering in China focusing on reinsurance and specialty lines, and this will be the first joint venture insurance broker launched in the Shanghai Free Trade Zone…
42
Logistics
DHL announced the successful delivery of 41 electric racing cars and related equipment to Beijing for the FIA Formula E Championship—the delivery was made possible with the help of DHL’s logistics solutions and marked an important step towards seeing the DHL-Formula E partnership come to fruition with the first championship race…
DHL sent two giant pandas from Chengdu to Brussels using a dedicated DHL B767 freighter aircraft—their departure marked the start of a 15-year cooperation of giant panda breeding research between China and Belgium…
43
Marine
Rolls-Royce signed contracts with China Oilfield Services Limited worth £19 million for the delivery of propulsion equipment for two deep-sea research vessels and one seismic vessel…
Rolls-Royce announced that COSCO Shipyard Group was awarded options by the Singapore- based Chellsea Group for the construction of four platform supply vessels designed by Rolls- Royce…
Rolls-Royce was granted a patent in China for the Environship wave piercing bow technology for merchant vessels in recognition of its unique and innovative bow design…
44
Media
BBC announced that the BBC Scottish Symphony Orchestra had concluded a hugely successful 2014 with a tour of China, covering Guangzhou, Shenzhen, Tianjin, Beijing, and Shanghai…
BBC announced that BBC Worldwide had signed a deal with Honyee Media, a media conglomerate focused on high-end lifestyle in China, to produce a Chinese version of Top Gear…
UBM announced that Shanghai UBM Sinoexpo International Exhibition Co. Ltd., one of UBM’s joint venture companies in China, had signed a 10-year (2014-2023) strategic cooperation agreement with the Shanghai New International Expo Centre…
45
Mining
BHP Billiton celebrated the shipment of its one billionth tonne of iron ore to China—China’s demand for this commodity has been unprecedented…
Rio Tinto and Sinosteel advance discussions for a second extension to the Channar Mining iron ore joint venture in Western Australia’s Pilbara region—the original Channar joint venture, signed in 1987, was one of the largest Chinese investments in the world, and it was the first overseas mineral resource project entered into by a Chinese enterprise…
Weir Group entered into an agreement to acquire Trio Engineered Products, a Chinese- American manufacturer of crushing and separation equipment for the mining and aggregates markets, for an enterprise value of US$220 million (£138 million)… 46
Nuclear
AMEC signed a Memorandum of Understanding with China National Nuclear Corporation (CNNC) to cooperate across the civil sector, both in China and the U.K.—the agreement will see AMEC and CNNC work together to secure global opportunities in new build, nuclear power plant operational support, and lifetime extension and decommissioning and waste management…
Rolls-Royce signed a Memorandum of Understanding with Chinese nuclear reactor vendor CGN—the agreement will see Rolls-Royce cooperate more closely with CGN in the field of civil nuclear power in China, the U.K., and other overseas markets…
47
Professional services
Accenture awarded Save the Children an additional US$3.2 million to build upon Accenture- supported projects in China that create job skills training and placement opportunities for disadvantaged and at-risk young people—this grant also expands the initiatives in Bangladesh and Vietnam…
Deloitte held the national competition of the Deloitte Tax Championship 2014 in Shanghai—the competition was organised by Shanghai Deloitte Tax Limited and the Deloitte Tax Research Foundation for university students in Greater China…
EY was honoured with the 2013/14 Distinguished Family-Friendly Employer award by the Family Council in Hong Kong in recognition of its impressive implementation of family-friendly employment policies along with its dedication to raise greater awareness of family values…
48
Professional services continued…
Grant Thornton launched its Tou Ying Tracker 2014, which identified the Top 25 fastest-growing U.K. businesses with Chinese parent companies by turnover…
KPMG announced that China’s Ministry of Finance had approved the opening of three offices by KPMG Huazhen (Special General Partnership) in Chengdu, Xiamen, and Qingdao—localisation has been one of the basic strategies of KPMG China’s operations…
PwC announced that PwC China, PwC New Zealand, and New Zealand Government-owned AsureQuality were cooperating with COFCO, China’s largest oil and food supplier, to further enhance China’s food safety…
49
Real estate
CBRE announced that it was establishing a joint venture with three partners in Shanghai, including Shanghai Tower Construction and Development Company, the Shanghai Lujiazui Property Management Company, and Shanghai Tower Real Estate Management Company Limited, for the purpose of providing management services for the new Shanghai Tower…
Cluttons was appointed by Chinamex, one of China’s largest overseas trading companies, as the official agent to lease the new multi-million dollar Dragon City retail project in Bahrain…
Jones Lang LaSalle opened its Nanjing office, which marked the firm’s 12th office in mainland China and 15th in Greater China…
50
Recruitment
Harvey Nash and the University of Hong Kong’s Business School held the third installment of the Women’s Directorship Programme—the international board preparedness programme, exclusively for women, was created in answer to the worldwide business community’s call to tackle the existing gender imbalance in boardrooms…
Hays won ‘Best Recruitment Firm of the Year’ for the second consecutive year at the 7th annual China HR Pioneer Awards, organised by TopHR, a professional human resources magazine in China—the award followed Hays earlier being named ‘Best in Finance and Accounting Recruitment for Asia’ at the 2014 CFO Innovation Awards…
51
Retail
Marks & Spencer released a half year update for its Plan A 2020, reporting that the Marks & Spencer Clothes Exchange, known as Shwopping in the U.K., had been launched in the retailer’s 17 stores in Hong Kong—customers can now donate used or unwanted items of clothing every time they shop at an M&S store in Hong Kong…
Tesco completed the formation of a joint venture with China Resources Enterprise Limited (CRE) to create the leading multi-format retailer in China—the joint venture combines Tesco’s best-in-class retail practices, international sourcing, and multichannel capabilities with CRE’s strong local knowledge and brand to create a business which is the largest food retailer in China…
52
Steel
ArcelorMittal announced that Valin ArcelorMittal Automotive Steel Company (VAMA), the joint venture between ArcelorMittal and Hunan Iron and Steel Company, had officially opened its new advanced automotive steel plant in China—the new plant is one of the major investment projects jointly approved by China’s National Development and Reform Commission and Ministry of Commerce, with a total investment of RMB 5.2 billion (US$832 million)…
53
Transport
ABB announced that the first Chinese rapid regional train equipped with ABB’s traction system was unveiled at Rail + Metro China 2014 in Shanghai…
Alstom and its local joint venture, Shanghai Alstom Transport Electrical Equipment Company Limited, were awarded a €21 million contract by Nanjing Metro Group to provide traction systems and associated services to Line 12 of the Nanjing Metro—involved in seven out of nine lines of Nanjing Metro, Alstom is making an important contribution to the massive expansion of Nanjing’s metro network…
54
Yachts
Sunseeker International won the top award at the 2014 Asia Boating Awards held in Hong Kong—the Sunseeker Predator 80 was named the ‘Best Worldwide Production Motoryacht (15-24 metres)’…
Sunseeker International celebrated as Wang Jianlin, Chairman of Sunseeker’s parent company Dalian Wanda Group, won the ‘Personality of the Year’ award at the Shanghai Asian Marine and Boat Awards thanks to his strategic decision to bring Sunseeker into the Wanda family…
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CONTACT US
Guy Dru Drury Director, CBI China e: [email protected]
Ben Cooper Policy Analyst, CBI China e: [email protected]
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