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Fosun to open Club Med ski resort near Beijing to capture China’s new-found love for snow sports leading to 2022 Winter Olympics

Club Méditerranée, which operates all-inclusive holiday resorts around the world, plans to open a winter retreat with a ski school near Beijing to take advantage of the expected popularity of snow sports during the 2022 Winter Olympics in the Chinese capital. The company, commonly known as Club Med, will open a resort near the Chinese capital, where the winter games are scheduled to be held in three years’ time. Several ski resorts – including the Secret Garden resort by Malaysia’s Genting… Source link

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All mainland China markets open higher, with consumer stocks leading in Shenzhen

The Hong Kong market opened flat on Friday, while leading benchmarks in mainland China recovered losses made in previous sessions.With the conclusion of the annual National People’s Congress in Beijing on Friday, and the release of most of key China economic data on Thursday, investors will once again turn their attention to the US-China trade war and corporate results, said traders.“Investors remained sidelined on Friday. Over the short term, I expect the Hang Seng Index to trade in a tight… Source link

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Vietnam 

Leading US firms to hold talks in Ha Noi – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A GE factory in the northern port city of Hải Phòng. – Photo baodautu.vn Viet Nam News HÀ NỘI — More than 50 leading US companies from a wide range of industries would arrive in Hà Nội on Tuesday to explore business opportunities, the US-ASEAN Business Council has announced. These firms include Google, Apple, Microsoft, Coca-Cola, ExxonMobil, GE, Ford, MasterCard, Qualcomm, IBM, JP Morgan, Syngenta, AstraZeneca and Pfizer. Arriving on the heels of the 2nd DPRK-USA Summit in Hà Nội where US President Donald Trump praised Việt Nam as thriving like few places on Earth, it will…

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Vietnam 

Samsung confirms leading role in Việt Nam’s support industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Deputy Prime Minister Trịnh Đình Dũng receives new general director of Samsung Việt Nam, Choi Joo-ho. — Photo chinhphu.vn Viet Nam News HÀ NỘI — Deputy Prime Minister Trịnh Đình Dũng has asked South Korean firms, including electronics giant Samsung, to continue playing a leading role in pushing Vietnamese support enterprises for joint development. Dũng made the statement at a reception for the new general director of Samsung Việt Nam, Choi Joo-ho, in Hà Nội on Tuesday. He highly appreciated investors from South Korea, including Samsung, for their efforts…

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Indian manufacturing is on the up and Chinese investment is leading the way

When I was the international director for the Tata Group, India’s largest manufacturer, some 15 years ago, we found that we could buy truck wheels from China cheaper than the steel cost in India. We, like thousands of other companies, ramped up sourcing from China.  Things look different today. With escalation of costs in China, shifts in exchange rates, and now the threat of tariffs, China is no longer a cheap manufacturing location. Sourcing of volume goods, like textiles or electronics, is… Source link

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China 

Leading Chinese academics lash out at ‘irrational’ trade war and US ‘distrust’ of Huawei

As top level negotiators try to thrash out a deal to end the trade war between China and the United States, a leading Chinese government academic has predicted that the “irrational” conflict will be long and protracted. China’s Vice-Premier Liu He is currently in the US, where he is expected to meet President Donald Trump on Thursday January 30, in a break from negotiations with the top US trade official, Robert Lighthizer. Liu is attempting to bring an end to a tit-for-tat trade war that has been waged since July…

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Huawei founder says West would be ‘foolish’ not to buy its 5G products as they are leading edge

Huawei founder Ren Zhengfei went on China’s state broadcaster to defend the telecom gear supplier’s track record in his first-ever television interview, a move prompted by western government bans on its 5G equipment over security concerns. Speaking in a CCTV interview that aired Sunday, the 74-year-old founder of the company said Huawei’s wireless and 5G solutions are world class and will solve issues many Western countries face in 5G development, especially in sparsely populated rural areas. “They are foolish and will lose money if they don’t buy [our products],” Ren…

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Vietnam 

PetroVietnam affirmed its leading role in the economy: PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Việt Nam National Oil and Gas Group (PetroVietnam) has continued to affirm its role as one of leading economic groups in the country. This, according to Prime Minister Nguyễn Xuân Phúc, is due to its achievements in production and business, restructuring, privatisation and resolving outstanding issues. Speaking at a conference held in Hà Nội yesterday, Phúc said the group has not only made an important contribution to the nation’s livelihood for many years, contributing a large amount to the State…

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Hong Kong’s leading property broker Centaline cries foul as Sino Land sets below market commission rate

The ties between Hong Kong’s property developers and sales agents are fraying, as declining prices in a cooling market crimps profit margins, causing the two former partners to turn against each other. On December 29, Sino Land said it would pay just 1.7 per cent in commission fees for its Grand Central project in Kwun Tong, only after brokers had helped the developer to sell 1,345 flats and rake in HK$16.8 billion (US$2.1 billion), according to Centaline Property Agency, one of the city’s largest with around 5,000 agents. In a…

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Mobike founder Hu Weiwei quits chief executive role at China’s leading bike-sharing firm

Hu Weiwei, a co-founder of China’s leading bike-sharing firm Mobike, has resigned as chief executive for “personal reasons”, the company said on Sunday. Hu’s resignation came at a time when China’s bike-sharing business, once regarded as a poster child of China’s online economy, has suffered a number of major blows. Ofo, a major competitor to Mobike, is in crisis after nearly 12 million users demanded that the firm refund their deposits. Hu co-founded Mobike in 2015 and grew it into a billion-dollar business within just two years. Chinese bike-sharing firms…

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