DOCSLIB.ORG

Annual Report 1 Corporate Overview

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 1 Corporate Overview ai161915073836_Yida AR20 Cover_21.5mm_output.pdf 1 23/4/2021 下午12:05 C M Y CM MY CY CMY K Contents Corporate Overview 2 Corporate Information 3 Financial Summary 5 Chairman’s Statement 7 Management Discussion and Analysis 11 Environmental, Social and Governance Report 39 Profile of Directors and Senior Management 60 Directors’ Report 65 Corporate Governance Report 80 Independent Auditor’s Report 90 Consolidated Financial Statements • Consolidated Statement of Profit or Loss 97 • Consolidated Statement of Comprehensive Income 98 • Consolidated Statement of Financial Position 99 • Consolidated Statement of Changes in Equity 101 • Consolidated Statement of Cash Flows 103 • Notes to the Consolidated Financial Statements 105 Yida China Holdings Limited 2020 Annual Report 1 Corporate Overview Yida China Holdings Limited (the “Company”), together with its industrial upgrading strategies, fully integrated internal and external subsidiaries (collectively referred to as the “Group”), founded in resources, further developed and operated Dalian Ascendas IT Park, 1988, headquartered in Shanghai, is China’s largest business park Tianjin Binhai Service Outsourcing Industrial Park, Suzhou High- developer and leading business park operator. The main business tech Software Park, Wuhan Guanggu Software Park, Dalian Tiandi, involves business park development and operation, residential Dalian BEST City, Wuhan Software New Town, Yida Information properties within and outside business parks and office properties Software Park and many other software parks and technology sales, business park entrusted operation and management and parks. It helped the Group achieve its preliminary strategic goals of construction, decoration and landscaping services. On 27 June “National Expansion, Business Model Exploration and Diversified 2014, the Company was successfully listed (the “Listing”) on the Cooperation”. For 20 years, the Group had provided its services Main Board of The Stock Exchange of Hong Kong Limited (the to nearly 80 Fortune Global 500 Companies. The Group had “Stock Exchange”). accumulated rich client base and operation experiences, forming a blue ocean for business development featuring high entry threshold, During the early stage of corporate development, the Group high customer loyalty, whole production chain coverage and established its foothold in Dalian and relied on its local knowledge immunity to cyclicality risk. advantages. Meanwhile, it catered to the international development trends and enjoyed the advantages of its unique business model. Throughout these years upon the Listing, the Group clearly Since 1998, the Group had firmly been seizing the international put forward to be “China’s leading business park operator”. industrial relocation opportunities of service outsourcing industry It pursued its national expansion goal through the strategy of and IT outsourcing industry, implementing “Private Investment “leading the development of asset-light business to actuate asset- + Government Support”, Internationalization and “Industry- heavy business, and developing asset-light and asset-heavy Universities” integration strategies, creating the business model businesses simultaneously”. Thus, the Group, by virtue of using the of City-Industry Integration, and constructing and operating development mode of “City-Industry Integration”, had been fully Dalian Software Park at a high standard. The Group had become exploring its business in major first-tier and second-tier cities and a pioneer in the field of China’s service outsourcing business economically vital regions. park development and operation and had determined its future development direction. In the “second half” of the real estate industry, the Group will cater to the trends and, by virtue of its strong internal and external During the business expansion stage, the Group improved its resources, enhance its core competitiveness as to its business park capacities in all fields, raised abruptly based on its accumulated development and operation to finally achieve scale development strength and established its own core competitiveness. The Group, and performance improvement. by relying on its successful experiences in the operation of Dalian Software Park and the government’s economic development and 2 Yida China Holdings Limited 2020 Annual Report Corporate Information Board of Directors Registered Office Executive Directors Cricket Square Mr. Jiang Xiuwen (Chairman and Chief Executive Officer) Hutchins Drive Mr. Chen Donghui (removed on 15 June 2020) P.O. Box 2681 Mr. Yu Shiping (resigned on 31 March 2021) Grand Cayman KY1-1111 Ms. Zheng Xiaohua (resigned on 31 March 2021) Cayman Islands Mr. Xu Beinan (resigned on 1 April 2020) Headquarters in the People’s Republic of China Non-executive Directors (“PRC”) Mr. Wang Gang 5/F, People’s Insurance Mansion Mr. Zong Shihua (resigned on 4 June 2020) No. 8, Fuyou Road Mr. Zhou Yaogen (resigned on 15 September 2020) Huangpu District Mr. Zhang Xiufeng (appointed on 15 September 2020) Shanghai Mr. Cheng Xuezhi (appointed on 31 March 2021) PRC Mr. Ni Jie (appointed on 31 March 2021) Principal Place of Business in Hong Kong Independent Non-executive Directors Room 1215, 12th Floor Mr. Yip Wai Ming Two Pacific Place Mr. Guo Shaomu 88 Queensway Mr. Wang Yinping Admiralty Mr. Han Gensheng Hong Kong Joint Company Secretary Principal Share Registrar and Transfer Office Ms. Wang Huiting Ms. Kwong Yin Ping Yvonne Conyers Trust Company (Cayman) Limited Cricket Square Authorised Representatives Hutchins Drive P.O. Box 2681 Mr. Jiang Xiuwen Grand Cayman KY1-1111 Ms. Wang Huiting Cayman Islands Board Committees Hong Kong Branch Share Registrar and Transfer Audit Committee Office Mr. Yip Wai Ming (Chairman) Computershare Hong Kong Investor Services Limited Mr. Guo Shaomu Shops 1712-1716, 17th Floor Mr. Wang Yinping Mr. Han Gensheng Hopewell Centre 183 Queen’s Road East Remuneration Committee Wanchai Hong Kong Mr. Wang Yinping (Chairman) Mr. Jiang Xiuwen Mr. Guo Shaomu Mr. Han Gensheng Nomination Committee Mr. Jiang Xiuwen (Chairman) Mr. Yip Wai Ming Mr. Wang Yinping Mr. Han Gensheng Yida China Holdings Limited 2020 Annual Report 3 Corporate Information (continued) Auditor PricewaterhouseCoopers Certified Public Accountants Registered Public Interest Entity Auditor Legal Advisors As to Hong Kong Law Sidley Austin As to PRC Law Commerce & Finance Law Offices As to Cayman Islands Law Conyers Dill & Pearman (Cayman) Limited Principal Bankers Bank of Dalian Shanghai Pudong Development Bank Harbin Bank Huaxia Bank Stock Code 3639 Company’s Website www.yidachina.com 4 Yida China Holdings Limited 2020 Annual Report Financial Summary A summary of the results and of the assets, liabilities and non-controlling interests of the Group for the last five financial years, as extracted from the published audited financial statements, is set out below: Year ended 31 December 2020 2019 2018 2017 2016 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 5,204,224 6,077,400 7,356,958 7,317,619 7,004,548 Cost of sales (3,959,448) (3,946,801) (5,305,746) (5,551,155) (5,460,083) Gross profit 1,244,776 2,130,599 2,051,212 1,766,464 1,544,465 Other income 37,917 52,733 51,927 70,491 72,949 Gains arising from acquisition of subsidiaries 454,889 49,389 790,959 – 583,113 Fair value gains on investment properties 81,073 147,396 6,586 341,216 201,219 Net impairment losses on financial and contract assets 2,635 (9,174) (23,861) – (19,270) Other (losses)/gains – net 81,055 297,643 (45,058) 19,998 (342,839) Selling and marketing expenses (169,350) (208,086) (192,886) (236,083) (215,505) Administrative expenses (451,296) (520,801) (502,698) (478,585) (434,358) Finance costs – net (832,091) (683,098) (659,853) (334,461) (278,346) Share of profits and losses of joint ventures and associates 86,876 50,808 8,810 449,702 (80,676) Profit before income tax 536,484 1,307,409 1,485,138 1,598,742 1,030,752 Income tax expenses (339,645) (669,306) (681,552) (504,480) (456,599) Profit for the year 196,839 638,103 803,586 1,094,262 574,153 Owners of the Company 172,576 450,164 833,919 984,302 564,000 Non-controlling interests 24,263 187,939 (30,333) 109,960 10,153 196,839 638,103 803,586 1,094,262 574,153 Yida China Holdings Limited 2020 Annual Report 5 Financial Summary (continued) As at 31 December 2020 2019 2018 2017 2016 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ASSETS, LIABILITIES AND NON-CONTROLLING INTERESTS TOTAL ASSETS 45,466,485 43,873,463 43,086,362 37,097,484 35,959,502 TOTAL LIABILITIES (33,154,703) (31,337,942) (31,247,803) (25,954,578) (25,812,973) NON-CONTROLLING INTERESTS (282,208) (678,523) (463,615) (404,727) (274,189) 12,029,574 11,856,998 11,374,944 10,738,179 9,872,340 6 Yida China Holdings Limited 2020 Annual Report Chairman’s Statement Dear shareholders, I am pleased to present you the annual results of the Group for the year ended 31 December 2020 (the “Year”). Jiang Xiuwen Chairman and Chief Executive Officer Yida China Holdings Limited Yida China Holdings Limited 2020 Annual Report 7 Chairman’s Statement (continued) Results I. Concentrating on city-industry projects, exploring multiple cooperation models, in During the Year, the Group recorded revenue of RMB5,204 million, order to improve operational efficiency of which sales income from residential properties within business The Group continued to emphasise the development of parks, office properties and standalone residential properties its business under the “city-industry integration” model. was RMB3,555 million. Rental income from business parks was By establishing professional partnerships with multiple RMB538 million; business park operation and management income financial institutions and maintaining cooperation in project was RMB63.07 million; construction, decoration and landscaping expansion, industry resource sharing, and the establishment income was RMB419 million; and property management income of investment and financing platforms, the Group achieved was RMB630 million. Gross profit decreased by 41.6% to RMB1,245 complementary advantages, risk sharing, and benefit sharing.
Load more

Recommended publications
  • Annual Meeting of the New Champions 2010 Abridged List Of
    Annual Meeting of the New Champions 2010 Abridged List of Participants As of 30 April 2010 Tianjin, People's Republic of China, 13-15 September David K. Adomakoh Group Managing Director TisoGroup South Africa Igor Akhmerov Chief Executive Officer Avelar Energy Group Switzerland Aly Aziz Chairman The Dashwood Group United Kingdom H.S.H. Prince Henri Founder GBA Belgium d'Arenberg Taqi A. Aziz Executive Director The Dashwood Group United Kingdom Douglas G. Bergeron Chairman and Chief Executive VeriFone Holdings Inc. USA Officer Pramod Bhasin President and Chief Executive Genpact Ltd India Officer Ankur Bhatia Executive Director The Bird Group India Fernando Bolaños Chief Executive Officer AgroAmerica Guatemala Valle Marwan M. Boodai Chief Executive Officer Boodai Corporation Kuwait Tim Brown Chief Executive Officer IDEO Inc. USA Martin Burt Founder and Chief Executive Fundación Paraguaya Paraguay Officer Cynthia Carroll Chief Executive Anglo American Plc United Kingdom Fabio Cavalli Chief Executive Officer and Chief mondoBIOTECH AG Switzerland Business Architect Eric Chen Managing Director Silver Lake Hong Kong SAR Chen Wenchi President and Chief Executive VIA Technologies Inc. Taiwan, China Officer Mathews A. P. Group Chief Executive Press Corporation Ltd Malawi Chikaonda Peter L. Corsell Chief Executive Officer GridPoint Inc. USA Fritz Demopoulos Chief Executive Officer Qunar.com Information Technology People's Republic Co. Ltd. of China Jay P. Desai Founder and Chief Executive Universal Consulting India Pvt. Ltd India Officer Nitin K. Didwania Managing Director Hazel Mercantile Limited India Thomas Enders Chief Executive Officer Airbus SAS France David J. Fear President ZBI Europe LLC United Kingdom Feng Dongming Chairman and Chief Executive Markor Investment Group Co.
    [Show full text]
  • Parks and Valleys Growing Asia’S Software Industries
    Parks and Valleys Growing Asia’s software industries An Economist Intelligence Unit white paper Sponsored by the Business Software Alliance Parks and valleys Growing Asia’s software industries Contents 4 Executive summary 6 Introduction: Desperately seeking software 8 Foundations of a software industry A vibrant venture capital industry A software talent pool Communications infrastructure 14 Four Asian software parks Malaysia paves the way Taiwan builds on high-tech legacy Foreign investment spurs Vietnam Dalian creates outsourcing niche 19 Entrepreneurialism over innovation Launching start-ups Knowledge sharing and innovation Fostering home-grown companies 23 Conclusions: Economic reform is the greatest lever © The Economist Intelligence Unit 2008 1 Parks and valleys Growing Asia’s software industries © 2008 The Economist Intelligence Unit. All rights reserved. All information in this report is verified to the best of the author’s and the publisher’s ability. However, the Economist Intelligence Unit does not accept responsibility for any loss arising from reliance on it. Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the Economist Intelligence Unit. 2 © The Economist Intelligence Unit 2008 Parks and valleys Growing Asia’s software industries Preface Parks and valleys: Growing Asia’s software industries is an Economist Intelligence Unit white paper, sponsored by the Business Software Alliance. The research was based on interviews, conducted in October and November 2007, with executives of companies based in software parks in Asia, administrators of the parks and employees of venture capital companies.
    [Show full text]
  • The Role of Standards in Technology Driven Commodity Chains: the Information and Communication Technology Services Industry in Dalian, China, and Bangalore, India1
    Chapter 4 The Role of Standards in Technology Driven Commodity Chains: The Information and Communication Technology Services Industry in Dalian, China, and Bangalore, India1 Balaji Parthasarathy Bharath M Palavalli 1 Introduction In July 2007, IDC (International Data Corporation), a consulting firm, developed a Global Delivery Index (GDI) to compare 35 cities in 18 countries in the Asia Pacific region as potential offshore delivery centers for information and communication technology (ICT) services. The comparison was based on 30 criteria including cost of labor, cost of rent, language skills and turnover rate (Table 1). The Indian cities Bangalore, New Delhi and Mumbai were ranked first, third, and fourth while the Chinese cities Dalian, Beijing and Shanghai, were ranked fifth, sixth and seventh. IDC predicted that, by 2011, Chinese cities like Dalian would outstrip their Indian counterparts to become the most preferred global delivery locations in the world. Table 1: IDC's Global Delivery Index-Asia/Pacific (2007-2008) Position 2007 2008 1 Bangalore Bangalore 2 Manila New Delhi 3 New Delhi Manila 4 Mumbai Beijing 5 Dalian Auckland 6 Shanghai Shanghai 7BeijingMumbai 8SydneyBrisbane 9 Brisbane Dalian 10 Auckland Kuala Lumpur Source: http://www.businessweek.com/blogs/asiatech/archives/2007/07/idc_says_china.html Note: 2008 rankings are based on different parameters But, the industry in Dalian does not seem to be living up to the prediction about outstripping its competitors. By 2008, Dalian slipped to the ninth position in 1 This research was supported by the Institute of Developing Economies, Japan. We thank Dr.Moriki Ohara and Ms.Hiromi Hinata for their help during the field work in Dalian in August 2009.
    [Show full text]
  • Tohoku Economics Research Group
    Discussion Paper No.293 The Formation of the Software and Information Services Industry in Dalian, China Yan Zhang and Nozomu Kawabata April 2013 TOHOKU ECONOMICS RESEARCH GROUP GRADUATE SCHOOL OF ECONOMICS AND MANAGEMENT TOHOKU UNIVERSITY 27-1 KAWAUCHI, AOBA-KU, SENDAI, 980-8576 JAPAN 2 The Formation of the Software and Information Services Industry in Dalian, China Yan Zhang (Fujitsu Research Institute) Nozomu Kawabata (Tohoku University) 1. Introduction (1) The Purpose of This Study The purpose of this paper is to elucidate the factors leading to the formation of the software and information services industry in the city of Dalian, China. Studies on information services industries around the world acknowledge India as a center for offshore development and service outsourcing. In contrast, China’s information services industry has a higher ratio of software product development targeting domestic markets (Gregory et al., 2009, Chapter 4). Dalian, however, has prospered as a hub for development and services aimed at Japanese market. While the sales volume and value of exports for the software and information services industry in Dalian were over 200 million yuan and several million dollars, respectively, in 1998, the figures exceeded 40.27 billion yuan and 1.4 billion dollars, respectively, in 2009. The export ratio is 23.8% based on the conversion to the U.S. dollar using each year’s foreign exchange rate. This is significantly higher than the 13.2% export ratio of the entire Chinese software and information services industry (Figure 1). In addition, 90.9% of Dalian’s exports are directed to Japan (Dalian Economic and Information Technology Committee et al., 2009), a percentage considerably greater than that for all of China, which is approximately 60% (Department of Software and Services Industry, Ministry of Industry and Information Technology of the People’s Republic of China, et al., 2010).
    [Show full text]
  • Shahid Yusuf and Kaoru Nabeshima Contrasting Development Paths For
    Public Disclosure Authorized Shahid Yusuf and Kaoru Nabeshima TWO Public Disclosure Authorized DRAGON HEADS Contrasting Development Public Disclosure Authorized Paths for Beijing and Shanghai Public Disclosure Authorized Two Dragon Heads Two Dragon Heads Contrasting Development Paths for Beijing and Shanghai Shahid Yusuf Kaoru Nabeshima Washington, D.C. © 2010 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: [email protected] All rights reserved 1 2 3 4 12 11 10 09 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com.
    [Show full text]
  • Issuance Overpricing of China's Corporate Debt Securities
    Internet Appendix for “Issuance Overpricing of China’s Corporate Debt Securities” Yi Ding Wei Xiong Jinfan Zhang In this Internet Appendix, we report the following figures, tables, and additional analyses omitted from the main paper. Fig. A1 depicts debt security issuance across the interbank market and the exchange market from 2009 to 2019. In Table A1, we list the 68 licensed underwriters in the interbank market at the end of 2019. Information on underwriters is obtained from NAFMII. In Table A2, we summarize overpricing for CP and MTNs separately for both before and after the rebate ban period. Although the magnitude declined after the ban for both CP and MTNs, overpricing remains statistically significantly. Taken together, we find significant overpricing in all these issuance categories. In Table A3, we report summary statistics of issuance overpricing by using excess returns of the first secondary-market trading day as the overpricing measure. The table shows that the overpricing is robust across time, debt securities, and issuers with different characteristics, consistent with Table 3 in the main paper. In Tables A4 and A5, we conduct difference-in-difference analyses to examine how the underwriter rebate ban affects the excess return across different issuers and across different underwriters. Consistent with results in Tables 5 and 6 of the main paper from using the yield-spread measure, these tables show that after the ban, the drop in overpricing is significantly greater for securities issued by central SOEs than for those issued by other firms, and the drop in overpricing is significantly smaller for issuances underwritten by the Big Four banks.
    [Show full text]
  • Income Diversification of Chinese Banks
    Durham E-Theses Income Diversication of Chinese Banks: Performance, Risk and Eciency QU, ZHIXIAN How to cite: QU, ZHIXIAN (2018) Income Diversication of Chinese Banks: Performance, Risk and Eciency, Durham theses, Durham University. Available at Durham E-Theses Online: http://etheses.dur.ac.uk/12164/ Use policy The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that: • a full bibliographic reference is made to the original source • a link is made to the metadata record in Durham E-Theses • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders. Please consult the full Durham E-Theses policy for further details. Academic Support Oce, Durham University, University Oce, Old Elvet, Durham DH1 3HP e-mail: [email protected] Tel: +44 0191 334 6107 http://etheses.dur.ac.uk Income Diversification of Chinese Banks: Performance, Risk and Efficiency Zhixian Qu A thesis submitted in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Economics Department of Economics and Finance Durham University Business School University of Durham June 2018 To My Parents ACKNOWLEDGEMENTS In writing this acknowledgement as the final task to complete my dissertation, my thoughts turn to the many days I have spent with respected supervisors and teachers, and beloved family and friends. This thesis could not have been written without the instruction, inspiration, guidance and encouragement these people offered me.
    [Show full text]
  • Chinese Bankers Survey 2016
    www.pwchk.com Chinese Bankers Survey 2016 Executive summary February 2017 Preface We are pleased to present the Chinese Bankers Most bankers in the survey believe that the top Survey 2016 report, prepared jointly by the China priority in addressing risk is "to improve cash Banking Association (CBA) and PwC. Now in its collection, accelerate write-offs and disposal of eighth year, the report keeps track of developments collaterals". While increasing NPL disposal efforts in China’s banking sector from the perspective of a through conventional means such as write-offs, group of bankers. collections and transfers, Chinese banks are also actively exploring a diversified range of alternatives, This year’s survey dug deep into the core issues including NPL securitisation, cooperating with the while maintaining a broad scope. Dr. BA Shusong, big four asset management companies (AMCs), and the project leader, together with the project team, transfer of income beneficial rights. There is a interviewed 15 senior bankers to get their insights section in this report summarising bankers’ views into the sector. Seven of the 15 bankers are at C- on the major challenges regarding disposal of NPLs. suite level (director, vice president or above). These interviews complemented the online survey With China’s economic structural reform at a critical covering 31 provinces in mainland China (excluding juncture, Chinese banks are expected to play a more Hong Kong, Macau and Taiwan). With a total of active role in fulfilling social responsibilities by 1,794 valid responses collected, the survey sampling serving the real economy. With regard to economic process has taken into account participants’ restructuring, most bankers believe that “upgrading geographical regions, grades, types of financial and transforming manufacturing sector, and institution, and if the institution is listed on stock exploration of new markets" brings many exchange(s) or privately held.
    [Show full text]
  • Annual Report
    億達中國控股有限公司 YIDA CHINA HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司） 股份代號 Stock Code : 3639.HK 2018 ANNUAL REPORT 年度報告 商務園區運營專家 www.yidachina.com 2 018 ANNUAL 億達中國控股有限公司 R E 中華人民共和國（「中國」）總部 PO Headquarter In The People’s Republic Of China (“PRC”) R 中國上海市黃浦區福佑路8號中國人保大廈5樓 T 5/F, People’s Insurance Mansion, No. 8, Fuyou Road, 年度報 Huangpu District, Shanghai, PRC 香港主要營業地點 Principal Place Of Business In Hong Kong 香港金鐘金鐘道88號太古廣場二座12樓1215室 告 Suite 1215, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong Contents Corporate Overview 2 Corporate Information 4 Financial Summary 6 Chairman’s Statement 8 Management Discussion and Analysis 12 Environmental, Social and Governance Report 52 Profile of Directors and Senior Management 68 Directors’ Report 74 Corporate Governance Report 86 Independent Auditor’s Report 96 Consolidated Financial Statements • Consolidated Statement of Profit or Loss 104 • Consolidated Statement of Comprehensive Income 105 • Consolidated Statement of Financial Position 106 • Consolidated Statement of Changes in Equity 108 • Consolidated Statement of Cash Flows 109 • Notes to the Consolidated Financial Statements 111 Corporate Overview Yida China Holdings Limited (the “Company”), together with its resources, further developed and operated Dalian Ascendas IT Park, subsidiaries (collectively referred to as the “Group”), founded in Tianjin Seafront Service Outsourcing Industrial Part, Suzhou High- 1988, headquartered in Shanghai, is China’s largest business park tech Software Park, Wuhan Guanggu Software Park, Dalian Tiandi, developer and leading business park operator. The main business Dalian BEST City, Wuhan Software New Town, Yida Information involves business park development and operation, residential Software Park and many other software parks and technology properties within and outside business parks and office properties parks.
    [Show full text]
  • China's Financial System
    China’s Financial System Growth and Inefficiency Dominique de Rambures and Felipe Escobar Duenas China’s Financial System Dominique De Rambures • Felipe Escobar Duenas China’s Financial System Growth and Inefficiency Dominique De Rambures Felipe Escobar Duenas Master Banque Finance Master Banque Finance Paris I University Panthéon Sorbonne Paris I University Panthéon Sorbonne Paris, France Paris, France ISBN 978-3-319-40450-9 ISBN 978-3-319-40451-6 (eBook) DOI 10.1007/978-3-319-40451-6 Library of Congress Control Number: 2017930599 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and ­transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made.
    [Show full text]
  • Development of and Change in the Software and IT-Enabled Services Industry in Dalian, China
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE Development of and change in the software and IT-enabled services industry in Dalian, China 著者 Zhang Yan journal or TERG Discussion Papers publication title number 361 page range 1-18 year 2017-03 URL http://hdl.handle.net/10097/00121009 Discussion Paper No.361 Development of and change in the software and IT-enabled services industry in Dalian, China Yan Zhang March 2017 TOHOKU ECONOMICS RESEARCH GROUP Discussion Paper GRADUATE SCHOOL OF ECONOMICS AND MANAGEMENT TOHOKU UNIVERSITY 27-1 KAWAUCHI, AOBA-KU, SENDAI, 980-8576 JAPAN Development of and change in the software and IT- enabled services industry in Dalian, China Yan Zhang (Tohoku University) Abstract The software and IT-enabled services (ITES) industry in Dalian, China exhibits certain characteristics given its deep relationship with Japan. However, of late, the proportion of exports to Japan has decreased substantially. Hence, Dalian must progress from being an offshore base for Japan. T his study discusses the changes in the domestic and international environments and analyzes their causes to explain the growth in the ITES industry in Dalian. In recent years, software and ITES companies in Dalian have been upgrading offshore services to Japan and expanding their business for the domestic market. Meanwhile, the positive lock-in effect to Japan has effectively advanced to upstream or high value processes in the software industry through long-term business relationships with Japanese partners. Furthermore, China’s domestic business is facing a spillover effect from the use of the human resources and technology accumulated through offshore development in Japan.
    [Show full text]
  • [D1] HKCD Chinaamc Return Securities Investment Fund ENG
    ChinaAMC Return Securities Investment Fund a fund established pursuant to a Fund Contract taking effect from 5 September 2003 between the Fund Manager and the Fund Custodian, as amended from time to time, and regulated under the Securities Investment Funds Law of the People’s Republic of China _____________________________________ HONG KONG COVERING DOCUMENT _____________________________________ This document (herein the “Hong Kong Covering Document”) is supplemental to, forms part of and should be read in conjunction with the prospectus for ChinaAMC Return Securities Investment Fund (the “Fund”) (as updated from time to time)(the “Prospectus”) and the Product Key Facts Statement of the Fund. Unless otherwise provided in this Hong Kong Covering Document, terms defined in the Prospectus shall have the same meaning in this Hong Kong Covering Document. October 2020 1 IMPORTANT INFORMATION FOR INVESTORS Important - if you are in doubt about the contents of the Prospectus, this Hong Kong Covering Document or the Product Key Facts Statement, you should consult your C 1 bank manager, legal adviser, accountant or other independent financial adviser. 9 ( China Asset Management Co., Ltd., the Fund Manager of the Fund, accepts full a responsibility for the accuracy of the information contained in the Prospectus, this Hong ) Kong Covering Document and the Product Key Facts Statement of the Fund, and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement in these documents misleading. However, neither the delivery of the Prospectus, this Hong Kong Covering Document or the Product Key Facts Statement of the Fund nor the offer or issue of Fund Units shall under any circumstances constitute a representation that the information contained therein is correct as of any time subsequent to the date of publication.
    [Show full text]