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“The major risks China is facing are the overheated economy， the dramatic increase in the credit loans and the real estate. As China keeps improving its role in the world， especially in Asia， the status quo and future outlook of Chinese economy will have grand impact over other Asian countries，” says Ashley Davies， senior strategic analyst for Asia with Commerzbank.
“Though the GDP growth rate hit 7.5% in the second quarter of 2014， the negative impact of the real estate industry in China is still to pose great challenges against the Chinese economy in the third and fourth quarters of 2014，” Davies says. “I am afraid that the Chinese real estate industry has already hit the turning point and the bubbles would break had there been no actions.”
Presently， it is still intensively debated about the existence of bubbles in China’s real estate market. Though many people think that huge bubbles exist in China’s real estate market and believe that the bubbles will break soon， some people disagree with this saying. The ever-progressing urbanization in China has immigrated many peasants into cities. In the future， the cities still have booming demand for the residential houses and the housing price is likely to increase again.
Davies points out that the depression in China’s real estate market has impacted the major trading partners of this large importer and exporter.
“China is one of the three major countries of Australian exportation. When the real estate thrived and brought about the ‘raging construction’ in China， the volume of coals and iron ores exported from Australia to China increased a lot. However， when the heat is fading away now， the unemployment rate rose in several states boasting a large mining industry in Australia，” says Davies. He recommends the Chinese government to cut off the limit over house purchasing and turn to “milder” management.
“To compare the consumption of cement between China the U.S.， the amount in China hit 6.6 billion tons from 2011 to 2012， while the U.S. cement consumption in 1900-2000 reached 4.5 billion tons. That means China used the volume of cement in two years that is 1.5 times as much as the one of the U.S. in a century，” says Davies.
The large increase in the cement consumption has reflected the boom of the real estate market in China， but Davies says that the depression in the Chinese real estate market is a result of the oversupply of houses. Coca Cola’s “smog subsidies” for employees in China
Foreign media reported that Coca Cola retained their employees in China with the “subsidies of the environmental protection”. Previously， some skilled and experienced foreign employees of Coca Cola have reportedly left China because they could not stand the serious air pollution there.
The Hindustan Times reported that the subsidies， which came out recently， could account for 15% of the employees’ basic salaries. This was called the “motion plan” to attract qualified talents from other countries.
Coca Cola is now busy recruiting people for a new factory in Harbin， Heilongjiang. This factory costs the beverage giant US$100 million and the construction started in June. It is going to have nine production lines and will produce several kinds products of Coca Cola Inc， such as Coca Cola， Spirite， Minute Juice and so on.
Coca Cola thus became the second foreign enterprise that gives their employees in China the environmental subsidies. Last March， Panasonic from Japan announced the same measure.
According to the report from the Ministry of Environmental Protection， only 3 of the 74 Chinese cities had their air quality meet the national standards last year.
It can be forecast that more foreign enterprises will join in the rank of Coca Cola and Panasonic， because the pollution is considered the biggest challenge to their HR in China. The European Chamber of Commerce says that most of its members consider the pollution as one of the top challenges for their business in China.
A lot of foreign companies are now providing their foreign employees in China with better medical insurance and more opportunities to visit families with corporation funds. They also apportion the funds to buy the air cleaners. Many of their offices have already had the huge air cleaners installed.
RMB to be in top 3 in three or five years
Renmin University of China recently published the Report about Internationalization of RMB. Chen Yulu， chief editor of this report and principal of Renmin University of China， says that the index of RMB internationalization kept increasing fast in 2013. The high-speed develop- ment will make RMB surpass pound and Japanese yen as the third largest international currency in the world in the next three and five years.
Wei Jianguo， former Minister of Commerce， says that it is very likely for the RMB to completely replace the U.S. dollar as the international fundamental currency from 2015 to 2030. According to the statistical data from SWIFT， RMB had become the eighth largest payment currency in the world by the end of 2013.
According to the report， the size of cross-border trading settlement and direct investment with RMB is increasing at a fast pace. In 2013， the volume of cross-border trading settlement with RMB increased by 57.5% to 4.63 trillion yuan. The volume accounted for 24.5% of the total cross-border trading volume in China. The FDI with RMB amounted to 448.13 billion yuan， up 76.7%.
By the end of 2013， the RMBbased international bonds and vouchers amounted to US$71.945 billion， up 24.9% year on year. The value of RMBbased international bonds and vouchers accounts for 0.33% of the total value of bonds and vouchers in the world. Presently， there are 20 countries having reported to IMF with RMB in their foreign exchange reserves. From 2010 to 2013， the global trading volume of RMB in foreign exchanges increased threefold and its proportion improved from 0.9% to 2.2%.
It is widely believed that the internationalization of RMB will not be finished in a short while despite the current dramatic progress. Many experts say that the internationalization of RMB should be built upon the status quo of China.
Han Wenxiu， deputy director of the Research Institute at the State Council， says that the RMB internationalization needs three supporting pillars： the first one is the improvement of the exchangeability of RMB with a higher interest rate. The second one is to increase the economic volume， foreign trade volume and outward investment of China. The third one is to ever improve the core competitiveness and comprehensive national power.
Huawei H1 revenue up 19% with high a profit margin
On July 21， Huawei published the unaudited financial report for the first half of 2014. The company saw the income of 135.8 billion yuan with the year-on-year increase of 19%. Its profit margin was 18.3.
“The company has already met the expected goal of revenue and profitability in the first half of 2014， which should be attributed to the investment into LTE. Huawei further consolidated its leading role in the MBB field. Meanwhile， the fast growth in the software and service ensured the stable growth of telecom operator business. The company has seen the initial fruits of the business expansion. The smartphones of Huawei were sold in 70 countries in the world. Thanks to the brand establishment and global sales of the smart devices， the consumer business had quality and sustainable development，” says Meng Wanzhou， chief financial official of Huawei.“We are confident to have the effective， stable and healthy financial performance in the year of 2014.” Presently， Huawei has two thirds of its income come from the international market. Now the company has already extended its arms to 170 regions and countries with the information and communication technologies， helping 30 million people get connected to the world.
In the knowledge-intensive ICT industry， Huawei’s success in the business is largely attributed to its R&D activities. According to its 2013 Financial Report， the company’s annual investment in R&D accounted for no less than 10% in the total income of Huawei in the last ten years. In 2013， the R&D investment of this company reached 30.7 billion yuan， up 3.1% year on year and equaled 12.8% of the annual sales income in that year.
By the end of 2013， Huawei had 150 thousand employees all around the world in different industries. 45% of them were engaged in R&D. In addition， Huawei set up 16 research institutions in Germany， Sweden， the U.S.， India， Russia， Japan， Canada， Turkey and China and founded 28 joint innovation centers with global leading telecom operators.
Huawei says that it will hold onto the opening-up and cooperative mindset and keeping working with a diligent attitude. Now it is still committed to becoming the leader in the ICT infrastructure and creating a greater value for its clients.
“Though the GDP growth rate hit 7.5% in the second quarter of 2014， the negative impact of the real estate industry in China is still to pose great challenges against the Chinese economy in the third and fourth quarters of 2014，” Davies says. “I am afraid that the Chinese real estate industry has already hit the turning point and the bubbles would break had there been no actions.”
Presently， it is still intensively debated about the existence of bubbles in China’s real estate market. Though many people think that huge bubbles exist in China’s real estate market and believe that the bubbles will break soon， some people disagree with this saying. The ever-progressing urbanization in China has immigrated many peasants into cities. In the future， the cities still have booming demand for the residential houses and the housing price is likely to increase again.
Davies points out that the depression in China’s real estate market has impacted the major trading partners of this large importer and exporter.
“China is one of the three major countries of Australian exportation. When the real estate thrived and brought about the ‘raging construction’ in China， the volume of coals and iron ores exported from Australia to China increased a lot. However， when the heat is fading away now， the unemployment rate rose in several states boasting a large mining industry in Australia，” says Davies. He recommends the Chinese government to cut off the limit over house purchasing and turn to “milder” management.
“To compare the consumption of cement between China the U.S.， the amount in China hit 6.6 billion tons from 2011 to 2012， while the U.S. cement consumption in 1900-2000 reached 4.5 billion tons. That means China used the volume of cement in two years that is 1.5 times as much as the one of the U.S. in a century，” says Davies.
The large increase in the cement consumption has reflected the boom of the real estate market in China， but Davies says that the depression in the Chinese real estate market is a result of the oversupply of houses. Coca Cola’s “smog subsidies” for employees in China
Foreign media reported that Coca Cola retained their employees in China with the “subsidies of the environmental protection”. Previously， some skilled and experienced foreign employees of Coca Cola have reportedly left China because they could not stand the serious air pollution there.
The Hindustan Times reported that the subsidies， which came out recently， could account for 15% of the employees’ basic salaries. This was called the “motion plan” to attract qualified talents from other countries.
Coca Cola is now busy recruiting people for a new factory in Harbin， Heilongjiang. This factory costs the beverage giant US$100 million and the construction started in June. It is going to have nine production lines and will produce several kinds products of Coca Cola Inc， such as Coca Cola， Spirite， Minute Juice and so on.
Coca Cola thus became the second foreign enterprise that gives their employees in China the environmental subsidies. Last March， Panasonic from Japan announced the same measure.
According to the report from the Ministry of Environmental Protection， only 3 of the 74 Chinese cities had their air quality meet the national standards last year.
It can be forecast that more foreign enterprises will join in the rank of Coca Cola and Panasonic， because the pollution is considered the biggest challenge to their HR in China. The European Chamber of Commerce says that most of its members consider the pollution as one of the top challenges for their business in China.
A lot of foreign companies are now providing their foreign employees in China with better medical insurance and more opportunities to visit families with corporation funds. They also apportion the funds to buy the air cleaners. Many of their offices have already had the huge air cleaners installed.
RMB to be in top 3 in three or five years
Renmin University of China recently published the Report about Internationalization of RMB. Chen Yulu， chief editor of this report and principal of Renmin University of China， says that the index of RMB internationalization kept increasing fast in 2013. The high-speed develop- ment will make RMB surpass pound and Japanese yen as the third largest international currency in the world in the next three and five years.
Wei Jianguo， former Minister of Commerce， says that it is very likely for the RMB to completely replace the U.S. dollar as the international fundamental currency from 2015 to 2030. According to the statistical data from SWIFT， RMB had become the eighth largest payment currency in the world by the end of 2013.
According to the report， the size of cross-border trading settlement and direct investment with RMB is increasing at a fast pace. In 2013， the volume of cross-border trading settlement with RMB increased by 57.5% to 4.63 trillion yuan. The volume accounted for 24.5% of the total cross-border trading volume in China. The FDI with RMB amounted to 448.13 billion yuan， up 76.7%.
By the end of 2013， the RMBbased international bonds and vouchers amounted to US$71.945 billion， up 24.9% year on year. The value of RMBbased international bonds and vouchers accounts for 0.33% of the total value of bonds and vouchers in the world. Presently， there are 20 countries having reported to IMF with RMB in their foreign exchange reserves. From 2010 to 2013， the global trading volume of RMB in foreign exchanges increased threefold and its proportion improved from 0.9% to 2.2%.
It is widely believed that the internationalization of RMB will not be finished in a short while despite the current dramatic progress. Many experts say that the internationalization of RMB should be built upon the status quo of China.
Han Wenxiu， deputy director of the Research Institute at the State Council， says that the RMB internationalization needs three supporting pillars： the first one is the improvement of the exchangeability of RMB with a higher interest rate. The second one is to increase the economic volume， foreign trade volume and outward investment of China. The third one is to ever improve the core competitiveness and comprehensive national power.
Huawei H1 revenue up 19% with high a profit margin
On July 21， Huawei published the unaudited financial report for the first half of 2014. The company saw the income of 135.8 billion yuan with the year-on-year increase of 19%. Its profit margin was 18.3.
“The company has already met the expected goal of revenue and profitability in the first half of 2014， which should be attributed to the investment into LTE. Huawei further consolidated its leading role in the MBB field. Meanwhile， the fast growth in the software and service ensured the stable growth of telecom operator business. The company has seen the initial fruits of the business expansion. The smartphones of Huawei were sold in 70 countries in the world. Thanks to the brand establishment and global sales of the smart devices， the consumer business had quality and sustainable development，” says Meng Wanzhou， chief financial official of Huawei.“We are confident to have the effective， stable and healthy financial performance in the year of 2014.” Presently， Huawei has two thirds of its income come from the international market. Now the company has already extended its arms to 170 regions and countries with the information and communication technologies， helping 30 million people get connected to the world.
In the knowledge-intensive ICT industry， Huawei’s success in the business is largely attributed to its R&D activities. According to its 2013 Financial Report， the company’s annual investment in R&D accounted for no less than 10% in the total income of Huawei in the last ten years. In 2013， the R&D investment of this company reached 30.7 billion yuan， up 3.1% year on year and equaled 12.8% of the annual sales income in that year.
By the end of 2013， Huawei had 150 thousand employees all around the world in different industries. 45% of them were engaged in R&D. In addition， Huawei set up 16 research institutions in Germany， Sweden， the U.S.， India， Russia， Japan， Canada， Turkey and China and founded 28 joint innovation centers with global leading telecom operators.
Huawei says that it will hold onto the opening-up and cooperative mindset and keeping working with a diligent attitude. Now it is still committed to becoming the leader in the ICT infrastructure and creating a greater value for its clients.