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China Digest China Digest China by numbers Round-up of business news, current issues, • 13,548 meters - combined height of and M&A analysis skyscrapers built in China in 2014 • 3 – number of world’s 10 tallest buildings Q1 2015 built in Wuxi city in 2014 • 7% - share of global freshwater in China In the news … (vs. 20% of world population) • 7 - of China’s ten most polluted cities are Subsidies cut for non-electric vehicles [Auto] in Hebei province The Ministry of Finance reports it is to reduce subsidies for traditional vehicles in • 30,000 - number of TV drama episodes an effort to boost the country’s renewable energy vehicle market. A program to build made in China annually charging infrastructure will also be accelerated. Aside from helping reduce urban pollution levels, the subsidy cut could encourage take-up of electric and hybrid • 14 - number of countries bordering China vehicles and boost domestic manufacturers such as BYD. (Caixin) • 648 million - China's online population • 280 million - number of people in China Growth of China O&G consumption to slow in 2015 [Energy] without safe drinking water China’s oil & gas consumption is expected to see slower growth this year, with falling • $1,831 - President Xi Jinping’s monthly global crude prices providing an opportunity for more energy sector reforms, salary according to the Economic and Technology Research Institute of the country’s • $1.2billion - annual US drug exports to largest O&G producer, China National Petroleum Corp. Chinese oil demand will China grow 3% year-on-year to 534 million metric tons in 2015, compared to growth of • $119.6 billion - China's actual use of 3.3% (to 516 million tons) in 2014, it said. (China Daily) foreign investment in 2014, up by 1.7% on 2013 Only 5% of women in Shanghai eligible to apply for a second • $1.25 trillion - expected China outbound child have made applications [Demographics] investment in next decade The high costs of raising a child and women’s career ambitions are the main reasons why only a fraction of women in Shanghai eligible to apply to have a second child have done so, says the Shanghai health and family planning commission. China’s GDP 4Q14 up 7.3% one-child policy was eased in 2013 to allow couples where either parent was an only child to apply for the right to have a second. Shanghai’s population of over 60s GDP 4Q13 up 7.6% numbered 3.87 million at the end of 2013 (more than 25% of its population) and recorded 116,500 deaths but only 105,200 births. (Caixin) Clean technology to be promoted to tackle pollution [Green Tech] Premier Li Keqiang has pledged to reduce use of fossil fuels as a proportion of China’s overall energy consumption to about 20% by 2030. Speaking at the World Economic Forum at Davos, Li said that China would promote clean coal technology and called on developed countries to export more clean technology and products to Shanghai Composite closes down at 3109.12 China. (Xinhua) More prescription drugs to be sold online [Pharma] The China Food and Drug Administration (CFDA) is expected within weeks to publish a list of approved prescription drugs for online sales, which could boost online pharmacies such as US-listed Jo-Jo Drugstores and China Nepstar Chain Drugstore Ltd (at the moment restricted to selling over-the counter drugs). Hospitals currently account for about 70% of drugs sold to consumers in what is estimated to be a $161 billion market and would likely lose out. At present, general online retailers Alibaba and JD.com have licenses to sell over-the-counter drugs Shenzhen Composite closes down at 10954.92 online, as does US retailer Wal-Mart. (Reuters) Reforms to facilitate marketing of foreign High-end smartphone sales bolster Huawei drugs [Pharma] revenue [Tech / Consumer Products] Foreign companies should find it easier to market new Huawei Technologies Co’s revenue increased by about 20% drugs in China, thanks to an agreement by Chinese officials to $46.3 billion in 2014 from about $38.6 billion in 2013, to cut regulatory red tape. Under the agreement, the CDFA according to Huawei CFO Cathy Meng. The unaudited will accelerate reforms of its regulatory review and approval results have been driven by a 32% growth in its consumer system, including eliminating a drug approval backlog business on the back of mid to high-end phone sales, and within two to three years. (International Pharmaceutical 27% growth in its cloud computing and data projects Regulatory Monitor) businesses. China built most skyscrapers in 2014 for Based in Shenzhen near Hong Kong, Huawei is China’s seventh year in a row [Real Estate] largest phone network equipment manufacturer. It stated in China built the most 200 meter or higher skyscrapers for April 2014 that it aimed to reach $70 billion in sales by the seventh consecutive year in 2014, with 58 new builds 2018. It is currently broadening its portfolio of phones, compared to 36 in 2013. According to the US-based Council business computing products, and cloud services to help on Tall Buildings and Urban Habitat, the city of Tianjin secure a top position domestically and a top two position (just east of Beijing) topped the list with six skyscrapers-- globally. (Bloomberg) more than the total built in the Philippines which came second on the list. (WSJ) China’s Top 10 brands, Q3 2014 1. China Mobile (Telecoms, HQ Beijing) Smartphone users in China number half a billion [Tech / Consumer Products] 2. Industrial and Commercial Bank of China (ICBC) (Financial Services, Beijing) According to a State Internet Information Office (SIIO) circular in December, China should have more than 500 3. China Construction Bank (CCB) million smart phone users by the beginning of 2015. At this (Financial Services, Beijing) time three of every 10 smartphone users globally would be 4. Baidu (Technology, Beijing) Chinese with more than 40% expected to access the 5. Tencent (Technology Shenzhen) internet via cell phones in 2015. (Xinhua) 6. Agricultural Bank of China (ABC) Volvo planning to export Chinese-made (Financial Services, Beijing) cars to US [Auto] 7. China Life Insurance (Insurance, Beijing) Volvo Car Group is planning to become the first major 8. Bank of China (Financial Services, Beijing) automaker to export Chinese-built cars to the US. Acquired 9. Moutai (F&B, Renhuai) by Zhejiang Geely Holding Group Co (“Geely”) in 2010, the 10. Sinopec (Oil and Gas, Beijing) Swedish automaker will start exporting its Chengdu-made S60L mid-sized sedan later this year. The Volvo brand is (WPP and Millward Brown) seen as having international credibility and quality to allow for success in the US where previous Chinese car brands Top 10 best-selling cars in China in 2014 have failed, including Chery Automobile Co in 2007, and Geely and Changfeng Motors in 2008. As of last year, About 19.7 million cars were sold in China last year China is the largest Volvo car market thanks to a 33% amounting to a 9.9% increase over 2013, according to a increase in sales to 81,221 units. (Bloomberg) China Association of Automobile Manufacturers report published on January 16. 1. SAIC-GM-Wuling Automobile's Hongguang China iPhone sales exceed US sales for (annual sales 750,000, prices starting at $7,163) first time [Tech / Consumer Products] 2. Changan Ford Focus (391,800) iPhone sales in China outstripped those in the US for the 3. Shanghai Volkswagen Lavida (372,000) first time during the last quarter of 2014, according to UBS analysis. China accounted for as much as 35% of shipments 4. Great Wall Haval H6 (315,900) in Q42014 compared to 24% in the US. China’s iPhone 5. Shanghai Volkswagen Santana (307,300) market share was 22% in Q42013. Having only launched 6. Dongfeng-Nissan Sylphy (300,100) the iPhone 6 range in China in October 2014, the increased market share may be a result of Chinese consumers’ 7. FAW-VW Sagitar (300,100) preference for larger phone designs. (Xinhua) 8. FAW-VW Jetta (297,000) 9. Shanghai General Motors Buick Excelle Ratio of Chinese banks' bad loans jumps (293,100) in Q4 [Financial] 10. Shanghai General Motors Chevrollet Cruze (266,000) Chinese commercial banks’ non-performing loan ratio rose to 1.29% in Q4 2014, the highest level since Q2 2010 when (Xinhua) it reached 1.3%, according to the China Banking Regulatory Committee (CBRC). The ratio stood at 1.16% in September 2014. (Xinhua) 2 Mergers & Acquisitions Update Draft law to ease restrictions on foreign investment into China, says Ministry of Commerce China inbound FDI is likely to remain steady in 2014 and 2015 due to a sound investment environment, according to the Ministry of Commerce (MOC). MOC data shows that FDI edged up 0.7% to $106.24 billion during the first 11 months of 2014 and is expected to reach about $120 billion for the whole of 2014, similar to 2013’s total of $117.6 billion. The MOC also forecast that FDI inflow will likely be similar in 2015. In 2014 China’s FDI grew faster than other major economies including the US, EU, Russia and Brazil and marks the 23rd consecutive year in which China was the most popular destination for foreign investment. Authorities have also stressed that foreign investors will soon have easier access to China. According to the MOC, draft legislation proposes regulating restricted sectors including defence, energy, dual-use items, grain, information technology, internet security (which will be subject to advance review) leaving other sectors open to FDI.
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