China :: Business :: Deals

Michael Pettis submits: Barry Eichengreen had a very interesting piece in last weeks Wall Street Journal. In it he argues that we are approaching the end of the period in which the US dollar is the worlds dominant reserve currency, and suggests what that might mean for the world. Here is what he says: The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days. Instead, its the extent to which the market remains dollar-centric. The greenback, in other words, is not just Americas currency. Its the worlds. But as astonishing as that is, what may be even more astonishing is this: The dollars reign is coming to an end. I believe that over the next 10 years, were going to see a profound shift toward Complete Story

Roddy Boyd submits: Author's Note: This story was held until the completion of the Chinese New Year celebration afforded management and its PR firm a chance to prepare comment on FI's extensive list of questions. Management never responded and the PR firm quit. Because of the strength of my thesis - the company is a rank fraud - and based on weeks of reporting, I decided to travel to China and knock on management's door (literally). The story below is what followed from this investigation. In the maze of thronged and narrow streets that makes up Fujian province's capital city of Fuzhou, a deft driver, if he's willing - as all Chinese drivers apparently are - to nearly kill or injure vast numbers of his countrymen can take you to the foot of Dongjie street. There was little reason to be there save for its having the headquarters of a company called China Complete Story

What's Happening Starbucks Menu Expands in China Dunkin' Brands to Expand in Asia China's new brew AB InBev Acquires Henan brewer China Resources Bought 21.37% Of Kingway Brewery APB to Offload Stake in Kingway Brewery for RMB 1.08 bln Counterfeits in the grape wall of China Chinas Thirst Makes Wahahas Poorest Boss the Richest Wahaha Considering Purchase of Japanese Yogurt Maker, Chairman Zong Says China Imports of New Zealand Milk Jump Five-Fold, Aiding Quake-Hit Nation Swire Pacific profits up 75% Want Want's 2010 Annual Results Skyrocketing Moutai price 'normal' says chairman Chinese find rising price of fiery national liquor unpalatable Chinese mainland liquor maker Dukang issues TDRs on TWSE ZenithOptimedia Beijing scoops media for Kun Lun Shan Mineral Water Carrefour strengthens price monitoring Pharmacy Retail Chain Extends Reach To Shanghai

Source : Bloomberg News Hangzhou Wahaha Group Chairman Zong Qinghou, Chinas richest man, said he is considering buying a Japanese yogurt maker. The Japanese company recently approached Wahaha, Chinas third-biggest soft-drinks maker, about acquiring it, Zong said at a briefing in Beijing, where hes attending the annual meetings of the National Peoples Congress. Talks havent yet started, he said, without giving more details. Zong, whose wealth was estimated by Forbes at $8 billion last year, has said he wants to buy foreign companies that produce products China lacks and which Wahaha can then sell domestically. The beverage maker, whose name means laughing child in Chinese, aims to boost sales 27 percent this year to 70 billion yuan ($10.6 billion). Weve learned a lot from Japans food and drinks sector in the past because we have similar taste and Japan is more advanced, Zong said. Wahaha, based in the eastern Chinese city of Hangzhou, accounts for 9.7 percent of Chinas dairy market, the...

Source : Campaign China By Benjamin Li BEIJING - ZenithOptimedia Beijing has won the media planning business for Kun Lun Shan Mineral Water, a brand owned by the Guangdong-based JDB Group which also produces the iconic Wang Lao Ji Chinese herbal tea brand. Carat Guangzhou worked on the media planning business of Kun Lun Shan. Kitty Lun, MD, Southern China of Carat explained that the change of agency was due to client's need to use two different agencies for the two different brands, and they decided to employ Carat to plan for all media for Wang Lao Ji and ZenithOptimedia got Kun Lun Shan. According to ZenithOptimedia, the mineral water market in China is extremely competitive with over 30 different local brands. Kun Lun Shan Mineral Water sits at the high end of the market with good brand awareness and brand penetration. It is the exclusive water brand for the Guangzhou 2010 Asian Games, Chinas National Tennis Team and for banquets at the Great Hall of the People. JDB's Wang L...

Erik Wright submits: Yesterday the market was taken by surprise when China announced a trade deficit of $7.3B in comparison with analyst expectations of a $4.95B surplus. This was the first time since March 2010 that China had a trade deficit. In March 2010 the deficit was of $7.24B. Both in the 2010 deficit and in the recently announced trade data, the numbers were skewed due to the Chinese Lunar New Year. Last year, the Lunar holiday was later on in February (14), which affected March trade data; this year it fell on February 3, affecting February data. The holiday usually lasts around 15 days, which typically leads to a slump in exports since the country's factories shut down or run at half speed for the whole holiday period. Some analysts expect that this deficit is temporary and that China's trade data will return to the norm with a surplus next month. A Complete Story

Sina Games Abandons BBS for Microblogging DoNews, 3/11/11 Liu Yunli, GM of Chinese internet company Sina's (Nasdaq: SINA) online gaming business, has announced that Sina Games is in the process of replacing its BBS forums with a microblogging platform called "Wei Tan" scheduled for launch in Q2 2011. Liu added that one of Sina Games' most popular forums, that for World of Warcraft, has no more than a few hundred postings each day, while the keyword "World of Warcraft" receives hundreds of thousands of daily hits on Sina's Weibo microblogging platform. Editor's Note: Liu's comments did not make clear whether Sina Games' "Wei Tan" project will be part of Sina Weibo or an independent microblogging platform.