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Cruel to be lfind?A!Lhor Joseph Baladi hds arr fa. l rd borh cr i r tL lsrn a|dhi-( sel fderr b.d bmra !nat ls s ofAslai br ! d i rs:0pI 'misI c abour thc futur. fahinese brands

30

FEATURE

Good Medicine

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COVER FEATURE 26Ihe Afterquakechina ffirs lion irs fair shar ofnaiural disastefs $,har canahina lcam i ionr Japans rr ts is nanal icnent?

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SHANGHAIBEAT 24Thls mondr, , \Lr |o shaighai ihreat.rcr t ro st .a l ihe shorv. butshanghai kepi pafc \ i th lauIches. a. i i \crsar ies rontereiccs

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cEo & Editarin-chief:

Depdy Geneal ttanager

Deputy Managing Aftor:Ma^eling & Events Manager:senbr Ac@unt M$ageratuonts Adninistrctor

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Olivia Tong

Foralladv6dishg enqutteE, ptoase cont ct: sates@mk-media,noi of +06 21 6t33 Ot79

L€tb.s !o the Edlior aE vletcdret ph€* @niact G at odttor@nkfl€dia.net

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Gamosa sigtrs memora0da with thrso Chlmsc Dovrerc0m0anle$Ga,nes€. a read ng wtno tu4ino rna{or lrom Spain. signed meino,"ndao'undeEtarding for 900 MW l]vnd turb,nes witt hrEe Chrnesecompanies. The MoUs rilh Longyuan, Chtna Resourcos powEr andDatang may cutminale in fin conlrads lo supply 900 t\4W in ulbrnecqpa.i9 in dle corning montis. AddiUonalty, camesa has agre€d lojoinlly develop 200 MW wind bms oilh Longyuan, lhe wDdd.s fiifdlaEest wlnd fam devotopsr, bv2015.

w rgrve subsidies to counlesthat make significaft efforts to0evelop green energy sources

Erports to China oflselJapan slowdown, Bio Tintosaysl/o Tinto the world s third-targestar ief expects gtobatmarkels Io'enra n votal e n the short Iem:jr says slfong demand ffom:r ra has offset any tenporary:ss or sates to Japan ailer the:;rhquake and lsunam dtsasler.': coflpany says t has seen: rea mpactfrom lhe crtss:3an ils second-la0esl

a.ldrind wins two ordersrus

oroers compise of fve 1.5 MWdirccldrve permanent magfel cwlfd turbines. The lurbifes wiiibe installed ti two wtnd famsrespeclively localed tf Ohio and

Himln otlefs new sotulionfor high-lemperature steamsyslemChifa s Nimin Sotar Co Ltdlaufched lhe woddt frsi rcof_nslalled solar highlempelalurestea.n system for industralul salon. The Shandong-basedNimin is lhe wortdt targest sotarwater healer manuf aclurer.

In China, t ire-espionage suitlreads loudlyUS chen calmaker Stcroupnc which opened a faclory n

China Io suppy an expandingtire-making industry w th thecompany s sgnalure rubber-b0nd/ng resin aboul seven years

I _ :_; codw|rd Scence and-+-.: rgy company a teading:_ - : : i

^ ndludne makeriii r:" :io new orders n

_ :: States. These two

ago, rs now rnvotved n a egaand pubt ic-realons bat l te wth aChinese compelitor Sino Legend(Zha ngj agang) Che micat Co. thathired away St croup,s Shanghaipanl manager StGroup a egesthal S no Legend has made avir tua y denlcatproducland isercding its cusiomer base

Mining l irm to ship iron orelrom AustraliaC I c Pac fc Mining is set to shiprts fitn consgfmentof ror oretrom ils S no kon mine tn WestemAustralia later th s yearafterspefd ng USD636m oi a f teetof12 dry bu k cargo ships The shipsarc pan ot an estinaled uSD4bninvesImeft by Cilic pacific lodeve op and €xptoi tmagne|te i ronore reserves at cape Preslon.100 km soulh west of Kanatha inWestern Aust€tia's p bafa regionThe shipmenl wi l tbe lhe frst bya rna nrand mining company frcm$ own ron ore mine localed n

TPG buys into Chinese solarplayer c0mtecLJS privale equily tim Tpc Capilals sello make its firsl nvestnrentin China's solar power induslryafler agreeing a dea to pay uplo HKDl 17bn (USD150m)toramax/mum 21 6% stake n ComlecSolar Systems croup. The deag ves TPG an intercst in one oiChina's mosl prcn sing growth

Uphillfoad lor Russia metalexports to chinaRussian metals fims seekingr0 rncrease exporis to chinaand olherAsan buyers iace anuph l lstruggle as they grappewrth inf faslruclure constrainls0n Soviele€ rait tines tn Sibedaand lhe Far East Russiat iwoma n farl lines in lhe Egionthe Trafs-Siberian and theBaikalAmur ila I ne (BAt\,t)are becoming overbudef ed.as

tfeghl sh pments tfcrease. Theprobem could worsen as Russiaboosts sh pments ofcopperaon ore and coat io ch na, tslargesl lradlfg partner Despilecurrent obstac es, the potentialror /ncfeased ra tlatftc prcjectsbelween resource-rich Russiaand raw materials-poor China snuge.

Waler businesses eyeopp0rlunities bey0nd ChinaMainland water companies are0egrnnrng ro expand overseaspanry because lhe home marketis nol profitable efough. IndLrslryprayers say l1e go ng oul oflhe compaf es presents rsksan0 opp0rtuntties, as Chinesecompan es slart tooking al waterprojecrs etsewhere especa yn the M ddle Easi andAuslrata.One of the companies thatsee Chinese ouiboufd waterinveslment as a fulure tend isSlez Env ronnemeft a Frenchwarer and waste managemetrtcompany wilh inveslmenls inChina lroping lo lake ils Chinesepartners abroad in futule.

Yanzhou Coal bids lolWhilehavenChina s Yanzhou Coat t\,4iningCo, the counlrys folrdh-argeslcoarpfoducer, has offered norethan USD3 74bn to acqu.e theAuslraiian coa miner Wh tehavenCoalLld. lflhe bid is successfut,t wi l lbe Yanzhou s argestOverseas acquisrtion s nce tpa d USD3 2bn forAust|atia,sFelix Resources Ltd in 2009The process is now com ng toa conc usion, with Yanzhou andhd a sAditya Bi a crcup on lheiinalshorl sl of bidders.

FINANCIAL SERVICES

Ban|( ol China to launchCambodian branchThe Bank of Chlf€ phnom penhBranch launcheo in Cambodia in

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China conlinues anli-dumping 0n chloropreneru0DetThe Chinese M n stry ofCornmerce ([,tOC) w ]l continue toimpose anl -dumping nreasures0n chl0roprene r!bber inportedrrom Japan the un l€d slatesand the Eurcpeaf union loranotherttve years The extendedanr-dump ng measures tookeriect beglfn ng 10 t\,tay wilh a

China, EU need to openwider l0 each olherLaurent wauquiez Francesm nrslerfor European affa lsslressed furlher devetoprnenl ofba anced bi lateratecononr c lesbelween Chifa and lhe EU dur nghrs off ic ialv ist lo Ch na n MayWauqu ez suggesled lhal Chinaand Eurcpe iurlher op€n up the r

China, Malaysia boost l iesChina and l\4alays a sgned

agreements to boosl jfvestmeftIn various prcjecrs involv nsenergy rnlrastr!ctureandcommun catons thal add to8elng s nfuence insoulheastAsa. China apprcved afapplication by Ma aysia,s ceft|albank to s€t up a represenlaliveoffice in Beijing to faci late trade

Chi[a posts lrade delicit lorquanerCh na feglstered its firsl quartertytrade deficit n seven years.relect ng the dsing prices ofrmported commod ttes andhiglrlighling concerns that China,sfoundatiois ofgrcwlh may beweakening Ch Jra s t€de revercalcomes as trnance m n slersand centra bankercgalher nW€shington lor a confereiceotthe Gfoup ot 20 targeneconomies and a meeung of thelMF. Economists forecast China.sILrnner growlr. aithough s ghlyess lnan rastyear s 10 3% Butlhe Ch nese l fade det ict suggesisthat c0mmodlty pices surglfg at

H{h-cld Chircse tea nakes new Eur0pean inroads-}e 'lleguaryin Associalion ofAnri, Fujian province, "China s lea=,ilal" and lhe homelown of leguanyi'r ootong tea, signed asEEtshlp agFeried wllh a Eu@p€an representalive b seeAnxi-€granyin enter lhe Eurcpean premium tea mar(et. During the=tE ceremony five of lhe mosl prcsligious tea ianns fDm Anxi..'sriced lhey would ioin together as a single goup !nd$ theaH b|and name ?nr Tieguanyn,'foraI Eurcp€an operalions

rasrer than antrcipaied .ales cou/dblut some ot rhe 9ains.

China presses uS on high-lech exporls cap[4anyArnercan t rms have toslbus ness opporlunilies andmarket share n chtfa as a resu tot US governnent mpostng

20VoThis years ShanghaiAulo Sh@mvered ai a@ ot I70 000 sq

m 20% morethan lhe aslshowSaurce: Chha Associat:bn olAutmobile ManuhctrMs

China Cauncil I'x the Pmtknat thtem aMt ftade ShanohalSub Caundl and China Ca;ncil

lat lhe Ptmatbn .t thtematianalf ta de A t tma ti e Su|-'a un cil

conlrol of hlgh lech exports toCh na. The LJS has mposedrcsrctions on more lhan 2 000l€ms lo be expo.ted to Ch na,wrrn requ remenls lo ctarfy enduserand end-use in China beforethe Amerlcan manufacturers canexpofl lre lems lo Ch na TheUS has aho exc uded Clr nafrom a sl of 164 counlrteswhom it gnnted ils new tcenseexception called Stmlegic Trade

China signs deals withIndonesiaChina has aqreed to iund bi ionsof doi lars 'wonh of Indonesianrnlraslrrclure projects. ArcundUSD4bn n oans announcedduing a vist by Chinese premierWen Jiabao w he p easelndonesia's iniraslrrcture funding

Chinese companies bu$y asdemand surges in JapanExports of frozen vegetab€s,lexliles larm producls andmechan calequipnrents lo Japanare 0n the rse n north easlCh na. Shandong province s

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expod ro J.pan teaped fromUSD81 6m in February toUSD1.58bn in tvarch, up 54 2%yearon-year Some foodpr00ucers rn norlh e€sl China areaiso overwhelfied by swarmingoroers rom Japan €s moeJapanese consumers sw lch lormponed iood oul of mdialionc0ncerns atef 11 t\,larch

C0FC0lo buy more0verseas vineyardsChlfa Nalional Cereals, Oihand Foodsluffs corporatioir(C0FCO) lhe country,s ,rgesl0ils and food lrader, pans loaggressrvely expand its vineyardownersnrp overceas on the he€ sor fl{o rec€nt purchases Thenext purchase mighl happen inAustralia or the United Slales.

Congress bans scienli l iccol laboration wilh ChinaA lwo-senl€nce clalse ncludedrn lhe US spend ng b approvedby cofgrcss thfeatens to rcvercernore than lhree decades ofconslruclve US efgagement w thCh na. The clause prohibls th€Wh ie House Ofiice ofScienceand Techno ogy Polcy (oSTp)afd the Nalionat Aeronaulics andSpace Administration (NASA)frcm coordinating ary lo ftscientific activity wiih Chtna. Theban does notapDl.y ro any USscientif ic inieractions wilh Chinaconducred as paf l of fo legnpo cy This ifterpretalion w/ll ike y a owlhe Un led Slalesro cont nue currenl aclvtesuni l l lhe spefd ng bi expires nOclober 2011.

Guinea seeks Chlna's'win-win'inveslmenlGuinea'welcomes' Chineseinveslmenl io sl mulale economcgrowlh in what Alpha Condepresident of lhe WestAfricanslale said was a win-wn'slualon. Guinea has abundanl

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Aviation nduslry lnveslmeniFund was set up if 201C to invesin aviation-relaled industresbeyond lhe fia nland Ch faAviation nduslfy Gene€ A rcraft.a subsd ary of AV C, sgned adeal lo acquirc lVlf nesola-basedCiffus Indusiles lt fiarks the f rctacqu silion by a Chinese av al onconpany in the uniled states andE!rope.

IVANUFACTUR]NG &AUTOIVOT]VE

Aircratl manulaclufers eyeChinese opporluniliesEncouraged by China'spforn se of a gradualopeningof ls ow-altilude aircpac€, jetnaf ulaci!rers have slarted:c sh t t iheir focus to Ch nas,:€nera avalon ma el whlch s:xPecled to gfow leniold n lhe

Airshow lands in Shanghai: ' rund 100 cornpanies inciud ng:: Tanufaclurers, ground,serv ce: :, oers. ma ntenance operators:_::€ n ng prcviders Iook pari' ' . : Shanghai ln lernalonat: - i

_.ssAviat ion Show The' : ':cturers showcased aboul

: : - :1 i the 44,000 sq. nr.: : ' scace At the end of

,' -a rlad € totat of 997: _ - ! genera avaton

: : : -s lgu€ sexpected.. . : l l by 2012.

- ; : :Jires Teledyne. ' : : -a Hotdtng

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counlry Ch na w iunher openils a rspace in the next few years,a mrng l0 compele y open al loirts low-a ltude a rspace by 2015.

Baltleground lor US carwars shifls l0 ChinaFor lhe t rct lime in Ameican

balllegfound for Delroit's 'B gThree' - General Motorc Fordand Chrysler 'has sh f tedofshore frcm the LJn led Statesto China GM pans lo doubteIts sa es on lhe mainland by2015 Io fve ml l / iof cars afdmicrcvafs, up lrom 2 35 m onsod n chlna ln 2010. Rivat Fodis rn lhe pocess ofbu ld fg twonew mainland plants for vehic esano one engtne pl6nt to detiver amuch needed production c€paciiyboost, planf ng to doube tsworkrorce and deaersh p nelworkn China and launch 15 newrnode s by 2015.

Eeiqi Foton signsinvestmenl M0ll wilh lndiaCh na's eading lruckmanulaclurer Beiqi Foton Motorsrcned a l\,lemorandum of!nderclanding ( i rOU)wth Ind a slvaharashlra state government lomanufactlrre trucks in ndia BeiqiFoiof Molor intefds to invesl alleast NR16.76bn (USD378.78m)lhrough fxed assets, equ pmentand ollrers upon lhe approvalfrcm lhe Ch nese governnrenl andthe conp el on ofliabtttties wilhMaharashtra slate government.The Beijing-based 8e q FotofM0lor also lecenty announcedil will build a sales company nMumba .

Eoeing's new China plant lobe operational in 2013The China offce oi US aircraftrnanulaclurer Eoeing sa d that aferpanson of is china venture innorth chinat por l c ly ofTanj inwi l lbe opeal onal in 2013 The

Crare for luxury car$ in ChinaThe ShanghaiAulo Show 2011 finished wilh a,good hary€si foriuxury mands, such as Rots-Royce, BenUey, Feffai, Lamborghlniand lvaybach. One of ihe fiost eye.calching cats was Aston Manin,sOne'r/ from lhe United Kingdom. Five cars of this tuxury modet, whichreponodly numbe|s only 77 worldwide, wer€ provided €specialty forthe Chinese maftot. A I ot lhe Uve wee sotd befo€ the offioar ooennool he Auto Shor. rhe car lvas oiced ar Rnb4h (usD7.2mr.lhem0$ expensiv€ among lie top ten tuxury cars al lhe eight day ever{.

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HK, Shenzhen losing exporlt0le as laclories moveinlandThe rcle ofGuangdong and HongKong as the world's ma'rufactu ngano expoft powernouses may Deon the wane as the nr€ n €nd sinlafd ctes !row into newmanufaclur n! lrubs. Weaksh pp ng dala for Hong Kongand Shenzhen n lhe Q1 of2011 akeady shows a d€cl ineas lhe wofd s ead ng ports.An upcom ng ra servcefromcentralCh na lo Germaiy cou dacce erate thatfall Conta ferthroughpul al th€ ten ead ngmainland ports grew 12 3% onavenge in lhe frsl two months of2011.

//frndai ltlolor la crealecommercial vehicle JV insoulh west ChinaThe Hyunda Molor Comp€nysgned a lorfna agreementlocreate a conrmercialveh ce JVin south westCh nas S chuanProv nce Hyunda and iisClr nese parlner lhe SichuanNrnlun Aulomotive Group, willeach have a 50% slake in theJV, which w be ca ed S chuafHyundai l otof Company. Wilh an

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TBW t0 0pen expandod lochnical ce re in Shanghai ln2013TRW AutonroUve Holdings Corp. announced plans lo open a newtechnicalcenlre in Chiia in 2013.The32.000s0. m facililv willbebuilt in Pmling and will be able to sccommodale mo€ than 1 ,000engineeE, When compl€t€d, be new bchnjcai cenl€ will be oneof TRWS laqesl iochnical tac lilies worldwide. Over 26 mil ionvehicles ae oredided to bebuilt in 2016ln China. ll is olanned lhalconslructron of iie site will commence in aulumn 2011 and will bercadv for oD€raiiofs in 2013.

SOOK YOUR SOOTH NOW TO MEET THOUSANDSOF FOREIENERS TIVINC IN SHAIIOHAI I

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Tata Steelplans moreinvestmenl in ChinaTala Sleel L miled - the word stenthlargesi steet comp€ny byproducrron and a subsidiary ofTala Steel Group, wil ncreaseinvestmenl in Ch na by 5% in2012. The compary wi nolmakeany malor /trvestmenls I ttsrciirng m s, located in lhe ciliesoi wuxi in Jiangsu province andXramen in Fujian prcvince, in2011 but therc wi l lbe changes t f2012. Curfently, the conpanytproblem in Ch na s overcapactyas p.od{rc|on far exceeds realdemafd. Capac ly wit tgraduaIydeclne as lhe governmenlencourages fn0re energyefUc ency in the indrshy

TCL to add Samsung inlolhe piclureSarnsung Electrcnics Co isset ro oblain a 15% stak€ tfShenzhen Huaring photoeteclricTechnology Co Ltd a JV belweefTCL Corp and Century Corp.Shefzhen Huaxing is the LCD-V panel production ptanl ior-aL, wh ch owns 55% Cenlury:-.renlly holds the rcma ntfgr:X TCL said lhal the transfer! :an 0ra strategy to deepen i ls: - : ness n the upslrcam oJlhe-. lduslry through cooperatiofr - Samsung one of lhe wortd\ir:-Esi manufacturers oJ flatr-.'-" TVs and mobite phones.

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Toyola's low-emlssion carsto be manulactured in ChinaToyola plans to slarl produclonor ow-em ssion carc in China€s I looks lo tap nto grcw ngdemand n the counlry. Thecompany s Keen 0n introducingrts lalestlechnoog es lo theChlfese ma*et lnleresl tfgreeier veh ctes in ch na sgrowfg as lne counlry workslowards rcducing its poltutionlevels. Honda MoloB and FordMotors plan lo slart productton0ielectr ic carc in Ch na by2012The push is coming notonty fromf ternati0nal camakers bul evendomesl c manufacturers such asGeely Automobiles and Dongfeng

IVEDIA,ENTERTAINIVENT &ADVERTISING

ChiIa Secorit ies Journal,NASDA0 shales inlormationCh na Secur I es JournatLimitedCompany (CSi) and NASDAOOMX Group Corporate Seftices(NASDAQ) lnc signed aMemorandunr of L.Jndelsianding,rocuss ng on shanng marketnfornalon and dalabase They

willshare ncorpof€te news afdmaftetdalaont ine NASDAQO[,{X wi/i be the firsl non'Ch nese spofsor ever gmniedthe pivilege ol assuming aleading sponsolship role for theGoiden BullAwads progmmme,held by CSJ CSJ is the taruestCh nese language financ afews fiedia enlerprise in Chinaas we las lhe most inftuenlialofficially des 0nated discloserof informalion on Ch nese tisted

China's press, publicationindustry target overseasmarkelsChina p/ans lo doube lhe oulpul

value of i ts prcss afd pubtcal ionnduslry in the next fve yea$.The anfua growlh rale oftheenr re press and pubticationindlslry s expected to be arcund19% and, by 2015, the annuaoulpul value ofthe whole sectoris expecled lo feach Rmb2.94lr(USD450bn), up frcm Rmbl 22tr(USD187bf) in 2010. ErponsofChina s domesl ic pub ca|onproducls will be promotedand lhere are a so efforls inrfcreasing public awareness ofcopyrghl prolection and tmproveChina s copyrghl protecton tegat

WPP's 0gi lvy lo launchChina-locussed division inlhe Uniled StatesOg lvy & Maiher, advenisingunf ofWPP PLC, ]s aunchinga new China pEctice if anattenpl to g.ab morc advertisingdollars from Ch nese companiesexpandrng overseas The agencyrs invesl ing an ni latUSDlml0 open lhe New York based

.ddChlfa-focLrssed div sion. Manyglobaladvensing companiessuch as WPP Publicis croupeSA and hteDubl ic croup ofCosover rhe past severa years havenvested in opemtions in china loserv ce mullinationat companieswafllfc lo feach Chinese

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PROPERTY &CONSTRUCTION

Aeda$ hi lches growth planto China's high-speed rai lAedas Lld, a lead ng afch tecluradeslgn company, is ta4ell ngthe Chinese marketas parl ofanexpansion slralegy thal wiitiakeadvantage ol the opponuniliespr0vrded by the counlry'sinvestnenl n h gh,speed ra .China is expected lo buitd 16,000knr of high-speed rall by 2020,Prov d ng hugejob oppodunit iesTorarcf tecls. Aedas haseslablished af office in Shanghalto lay a foundatiof forlheerPafson. Aedas woridwideachieved rcveiue of LJSD220min 2010 25% ofwhich carie frcmthe Ch nese markel.

Chlnese looking to homes inSingaporeChinese h€ve ove(akenMa aysians as the second-taqestoverceas buyefs n Slngapore slesidential markel, despilelhe S ngaporean govemnrenlInlroducifg measures aimed alcool ing down the rnarket. In Q12011 Chinese and lva aysianbuyers boughl morc lhan 50% oflhe flats sod n Singapore s p rnercsrdenlala.eas. In Q1 31%oflhe 54 homes worlh SGD5m(USD3 975,138) or morc wereso/d to Ch nese buyers. Theywerc motivaled especiatiy bythe iacl lhal many had chi ldfensludying in Singapore.

Philippine properly gianlAyala slarls housin0 projectin north China cityAya a Land Inc. (ALl), thePhilipplnes laqest €at eslalec0rnpany, has started constructionon ts lilsl ever project in chinain lhe norlherf c ly ofTanj in.The housing covers an areaof 97 600 sq. rn. in the Sino-S ngapo€ Tianjin Eco-cily in lhe ttt

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NEWS

0r ng lne company,s lota number0r empoyees rn the couftry to120,000 Many ofthe new staJtmembers w I wo* in 700 newsrores lhe compafy plans lo selup by 2013.

Gome siqns strategicagreement with sanyoColour TvChinese etecircnics and homeappliaices rela er come hassgned a flve-year strategtccooperalron agleenrenl wilh lheJapanese honre apptiances brandSanyo and lhe lwo parties wimplenenl lf-deplh cooperal onn vario!s areas, inc udingnfomaltof shar ng, prodlcldevelopment, ma*eting sates.f anagefi enl, af d after-salesservices. By 2015 Sanyo hopes:o settmore lhan 700 000 coour_Vs va the channeh of come in: :11

Jeweller to IJK royalty lakesa shine to China: : . a Asscher Diamond, which

cul slones set in Britaint crownJeweh w open slores n Chinacompeting wilh the Tffany andCanier brafds as jewe erydenand and produclion grcw tfChina Amslerdam-based RoyalAsscn€r pians to have an oullelrn Eei ing by lhe end of 2011 andevenrua y expand lo at ieaslJourlocalions in Chtra wilh HongK0ng-based partner Sparkle RotlGoup.

Marls & Spencer ulveilsplan l0r new ShanghaistoresThe Bril sh,based apparetandluxury food rela er tvarks &Spencer croup plc ( [ t&S)intendsto open more slores tf Shafglrailo ncfease ils markelpresence.l ls la len ou et wi l tcover anarea of 3 700 sq. nr. in the ClyCenlfe shopping mal in lhe citysChangning dtstrict M&S plansto burld a strong presence n theShanghai rcgion as one of ilspnorry nt€rnatiofa narkels.[4&S op€ned ils frst store in

Slarbuck$ brews Vla succes$Staducks Cory Dtans lo add mole .eady-made boveraQe rrens ons Tenu aftersaes ofV,. re.oy_brewed Instanl cofee;{ce6dedexpoclaltons, Via freshly browed instant coffee has achieveo aconbined sat€s of USD200f In lfe lrst 12 nonlhs since debul,ngn rdte 2009 Starbucks is oi track lo acce,erate,ts opentng ol1,500 ou|els in China by 2015, with many ofih€m b;abo rns€condiiei cilies, fDm lh€ cuftent 4S0 slores,

t !t.br on banh wilh rirals hy a0gressively DeotingIr c ..tg.c. clothingir'= ..Eiting he big-name endorsoments game with Nikeif "E- r-6! bcatbEnds in the Chinese spods goods ma*et,

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Amazon builds eighthlogislics base in ChinaAnrazon com, Inc., a US basede-c0rnmerce 0pemtor willeslablish its eighth tog slcs basern easl China s Jiangsu Prov nceThe 100 000 sq. m. base socaled in lhe Kunshan Nuaqiao

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App lo become moreacliveBlackberys app calion slore snow available in China wh chpfov des lhe wofld\ biggeslmob e phone marketwlh alh rd choce besides TunesSlole and Andro d Ma*elResearch in Motion sa d.Both enterprse and personaluseN are abte to accessthe BlackBery App Wodd lodownload user app cal onsdesigned fof lheir BlackBerrydev ces includlfg ocatisedappl icat ions lke ShanghaiDa yand mahjong. The Ch neselanguace onlne slole nctudescareg0nes such as businesseoucaton game heal th carce-book and photography.

Baidu and Facebook toclinch JVBadu China s largesl searchengine opelalor, is said to havereached af agfeement withFacebook to set !p a socalnerwoftrng website in chtfa.Facebook, the wo d's mostpopular social-nelwork ng serv ceoperalor, will estabtish withBa du an ndependeft netwo*ingwebsrle lhal s nol connectedto the rntemationats te Sohucom reported, c ting !nidentfiedemployees al lhe Ch fesecompany. Facebook CEO Ma*Zuckerberg and Baidu CEO RobinL had several meeltngs before

Burherry stores in China geldigital mateoverBLrrbery Grcup PLC s oulfttingrls storcs in China wth lhe talest r>t

completion. the logisiics basewil be the /argest anrong lhosearfeady in operalon n China.Anazon has so tar eslabtishedseven log slcs bases n severalChinese cil es, nctuding BeijingShanghal, cuangzhou afdSuzhou

II

FT CLOBAL CONFERENCES & EVEN IS

OF FINANCE FORUMCHINA AND THE GLOBAL FINANCIAL LANDSCAPE27 September 20l l . Shanghai Mariott Hotel City Centre

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Tencenl, Intel, Razer lormslrategic partnership lorhandheld devices in ChinaCh nese nlernel companyTenceft has fornred a slrateg cal l rafce wi th nleland Razer todeve op a new Razefswtchb adehandhe d devrce wlh Tencenlsgames The concepl producl ofRazedwtchb ade adopts lheW'ndows / operaling systemano Inle Atom processor I hasa 7- inch mul l iouch sc€en andlactile dyfamic keyboard.

While iPhone 4 drawsct0w0s

People queued up oulside lheAppe Store on M dd e Hua haRoad in Shangha ro buy thewhile version of iPlrone 4.Apple began se ng lhe whiteversion oi ls popular Phone 4smarlplrone yesterday n morethan 20 counlr ies and reg ons,rncluding the Chines€ ma ntand

ZTE profits up as i l eyesworldwide erpansi0nZTE lhe main and s second-3fgest lelecomrnun calons::u prnenl makef plans to step,,^ nlernatr0na expanson alter: :n ng srr0ng earn ngs in lhe

- ' ZTE signed a dea with: ; l |sh bank ng ! ianl Banco: rnder lhat provides an::1 rne of credi lof up tol :30f i , guar€nleed by lhe

_: _:nd governmentt expo-- : _:3 agency sl fosure, a lso' : . ' rs China Export and

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:-: r -es Ericsson in China,r ' : . : . rg c lash. : : : . . fmuntcat i0rs

hardware maker ZTE CorpI ed a awsu t in Ch na againsta un t of Swed sh rva T€ etonAB L.M. Ericsson over ategedpalenl nir ngemefl said WangHalbo, ZTE's nle €clual-propertyd rector The move escalatesa legalbatt le thalbegan whenErcsson sa d eari ierth s month i lI ed patenl- infrngement tawsuttsaga nsl ZTE in Ihe UK la y andGernrany and highlighls ZTE sgrowlh overseas n competitionwilh Weslern riva s. Such awsu tsare cornmon beh{een g obalrva s in high-lech industries

TRAVEL & HOSPITAL]TYChinese airlines brace lorEIJ l imils on emissionFly rg gfeen€r became apror ty - and potential headache- for Ch nese air n€s after thecounlrys c vi laviat ion regutatorvorred t0 cut em ssons andthe European Un on decided lonclude inlef ialonalf ghls na carbon cap systenr that wrequrre them lo pay for emssio|sbeyofd a certai f leve. The C vAvation Adrn n slration of Ctr nawants t0 feduce lhe 2005 teve sof carbon dioxide ern ssionsby 22% by the eid of 2020. Is €ncounging air nes lo useal lernalve iuels and newer moreef lcenl jet eng nes ArCh na,lhe falon s i lagship nleffaUonac€rder, pans lo operate alrans-Pac fc demonstal ion f l ightPar|a y powered by b olue tf theH2 aI 2011

Egypt invites Chinesedeleqali0n to promotelourismA Ch nese delegatoi of 18journa sls arrved n Caircn May for a five day tourat Ihe nvi la l ion of Egypl ;naulhoriles who a m lo attractCh nese loursls lo the counlry.The de €galon came frcnr 12

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Cathay, Air China to yrork closcr on passenoer llightsCalhay PacificAlrways is seek nq to forge ctoser tinks wrnmainland llag carrlerA I China over passeng€r services after lhenalgurals€rvice oftheir carco JV inAp t. White lhe n€xtfocuswould be on developing lhe two airtnes passenger business,Calhay would also ca.ry oi with oppodunstica y adding lo ilsAtrChina shaeholdino.

med a organ satons such asnewspaperc w€bsites and €dioslalons based ln Guangzhou.

Lul lhansa is addingShanghai serviceThe Germaf flagsh p a rtineDeulsche LufthansaAG ai.nslo furthef increase its prcsencen Chlra. lak ng advantageof lhe fast-!rowing demand10r av alon wth the start ofaddilionai seruices lo Shanghan summer 2011 Lui lhansa wit lhrrc 70 Clr nese flighlallendants

Shanghai welcomes l irslA380 landingShangha Pudong InternauonaA rpon caf now hand e theworld's biggest passengeralrcrafl, the AlbusA380. at ilslwo terfi nas after renovatonswere compleled al Terminal1. The cily welcorned lhe frctArrbus 4380 junrbo j€l operatedby Emi|ales Air nes wlr chanded alPudong aiport sTern nal2 nAprl heipi fglhe ciiy become the second nlhe Ch n€se maif and, after

Bej ng, that can handle l l rePane Enr rates operales th€Jet between Duba and Pudong

Slarwood's Alol l brandconl inues China expansionFollow ng lh€ opening olStarwood Hot€ s & ResodsAtoftNanha Foshan, the secondA oi lhotei l0 open in Clr na after lhedebulofAoft Bei j ing Ha d an in2008, lhe company announcedplans for the brand's expansonIn lhe reg on S x mor€ Aoi lrrole s w debut by 2013nc uding Ha yang Slrangj ieand Zhengdong New D strct nZhengzhou n 2011 cuangzhoun 2012, Dai iar and Yanchengrf 2013 Slarwood lropes thatas a young, tedl-diven socielyCh na wi l lbecome a key marketlorAloil s developfienl outs deofllre uf ted states. lxi

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I The 14lh ShmChai htmtionalA(omobilel dutryExhibitio,(Auto Shaghai 2011), one of rhe wodd\ largest auto fai! in 2011,ended or Satuday 28 Aprit after a successftl one-wce( run ar meShanghai New Intmatiolal Erpo Ccnire. With tbe rheme ,,InnoEtionlor Tomorow", rhe lhow revealed nany new nodelq includitrg t3globa.l debuts. There were ptenty of oiTerirys to. r1r ruruy mr(€r,and a snong cmpbasis on fuel€frcjdt and new-encrgy vehictes. Theevent hosted tholsands of erhibits ftom over 20 coudes, includlngrepresmtativcs ftom thc world's lesr tnoM auto brands. Of the 9l 8ca^ dsptayed by the exhibitors, 316 wefc lmporrcd and 602 NereChircse-developed, according to the orlanises, the Chha Associarionol Automobilc Manufacturen, the Chtna Council for the prcmorionof lnteraooMt Trade Shanghai SuHoucit and fte Chim Councitfor the Prcmorlo, of hrernadonat TEde Automotive Sub--CouncilSharyhai Bui&s ReiN follawcd some of tbe China auto Mket\ keyplaye$ to lnd out whar rhey brought tu ihe show

BMW staged thc wottd dcbur of rhe BMW Concept M5 and rheBI{W 6 Scries Coulq and the BMW Vislon ConnededDrjve, thcBMW ActirE., lhe ns BMW 1 Series Coupe an l Series Converribtcwefe presented to lhc Aslan publjc for rhc fint time. The company saidnDt tbe development of modets tike the BMW ActiveE itlustrated the;onSorng iocus on elccric mohllfy and innovarion.

With rhe theme of ,,Safe and Save.,, China\ large$ auronomouspa$enger vehicle dcveloper dd manufacturer Chery appeared wirh26 vehicles, five powcrrrains ad a fou wheel drive system. Thetr latesrnodels included the New Easrar, devetoped for the nenopoliran elire,and the Chery E5, for nailstream Chinese consumes. Chery atsodrcw attention to their fouf new encrgy-coffervi.g vehicle!, hybrtd\chicles, clectic vehicles ed altermtive tucl vehicles. Th€ companl,i now looking ro grow beyond Chira, with a snategic emphasis ongobakation based on loca.tisation',.

> FAW-GM, a JV between cenerat Motols ad FAW, displayed:o.e rhan 25 producrior and concept vchicles under rhe gowingr:-rblio ol brands. Under the thme of ..Crearrve Lea.le6hip and aJ::en Future". ihe company sh@ed Buick, Chevrolet and CaariUac- :L:ls including the al-ney Chsroler Matibu midslze sedan and fie: - :i E.visjor SIJV corcept, which mde their global pfcmiere at the- , fte Cadillac CTS Coupe. Cheuolet Capriva SUV dd Bao.junI ; .:e also Cbina debrts.

GAC Fiat brought rtreir nN Fia! 500 to rhc show. Again, rher€ wasa focus on greene p.oducts, with .N featues such as rhe l.4tirrcMultiAir@ engirc develoled ro upgrade powd ousut white reducingtuel consumption and lowslng emissions. Loohng ahcad, cAC Fiarplans to continue io pNE brealrhJoughs in manufacluing, producilntroducdon ud chamcl expansion ro appeat to chnese consm6with a distinctive Italian identiry

Amencd grants Ford rook rheir fi^r sreps jnto China,s etecnic vehiclcma.ket wift the inooduction of the Focus Elecnic, C MAI Energiplug-in hybdd md Fusio. Hybid. These mo.lels are part of Ford,swder strategy for electrc vehlcles, whjch concentrates on developitrgth1€evehicleryp6 theBatreryElerricVehicle,ptug-nHl,bridEtectricVehiclc dd Hybrid Elcctrjc Velxcle.

Nissan Motor Co., Ltd preniefed an all-new hatchba..k model. Thenew gencration Tiida in China, rargering youg falrrjtics, wa! the keyexhibit at tbe companyt booth. The introducrio, of the nN Tiida!turbo seies abo made Nissan the fist Japanese automakd ro bring arudo-chd€ed rngrne inro , f e ( hrese mdkF,. f te conpd.) is Dowlooking alead lo turue green jnidatiles. The 100 !d co. crecmc,2ero-emtssLon Nissan LEAF has already been jaurched in Japan,ihe Urited States and Exrope, and Nissa js in discusion! with locatpartncs regedmg a posible Chim taunch.

Toyota Motoi Corporation (TMC) drsplayed 50 pfo{tuction andconcelt vehicles at the exlibirion ar tbeir Toyota and Lexus !pec. Anumter of hybdd, plug in hybdd ad etectric rehicles suh as the Lcasbrand "CT 200h" werc also on dnphy. TMC now iftcrds !o conmuedeveloping nN cars-ranging liom environmenrally ftlendly vehiclesad assisted nobiliry vehides to spofis cars to meer the nee.ts of abroad lange of vehicle use$ in ChirF.

ANOUND TOWN

Volkwagen fespondcd ro the show.s iheme with an mnovanon-focussed canpaign, Think Blue.', spot-lighdry 30 cm an.t rhe tatesttechnologies fton Sharyhai Vorkswagen, FAw-yolkswagen andYICo. Headli.ing wift rhe Beetle, Shanghai Volkswagen\ NewPassat and FAw'VolkMgen s CC I .8TSI, rhe company aimed to bringtogcther a selection of techlologles demonsrrating rheir corporateresponsibiliry Almosr 90 pef cdr of VotksageD s exlibiting cars wereequtpped Mth cleu TSI en€ines and DSG transmission tecbojogxard rhe.oTpdl\ nlso rrrodrced rteir ns e-5cuorer. o /erc m$ron5rchide. $8

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COVER FEITURE

trlday 1l ilalchThc earthquake thathit Jalanon Friday

1l March mcasured 8.9 on the Richrciscale. even large. rhar the 1995 Kotequake. It struck at l4.46local time, at thepeak of an ordinary working day.

Mucl has been made of the impacr of thequake on Japan\ businesses and economylbut there has also been a grear deal ofpraise fo. the corporare wol td,s wcl t -!la.ned cfisis managen€ntj companics inAsia's thi.d largest cconomy were abte rodraw on ca.ljer experi€nces i. Kobe ardeisewhefc ro supporr their teams even inthe wakc of an utrprecedented disaster.

In the hours ard days fol lowing tbequake! Japan\ business leaders wereiaced with the chal lenge of prorccdngand managing rhcii teams through thecisis itsell and rhe tutmoilthat fo owed.Staff and manageN were naixnlly shockedand concerned for thei own safcry ,'On

the day jtself, rhere was fear and terrorj,'says Richard Mye6cough. Vngin ArlanticArways' managing director in Japan.

They were also despefate to find ourhow theii colleagues, friends and fanilyhad bee. affected. Th; was nor easy onthe afternoon of l1 March; immediaretyiollowing the first quake, there was abreakdown in commu.icat ions. , ,Voicecommunrcatlon was .earty impossibleJ!st at te l the disastc i . , ,says AkihikoKubo, president and CEO of WebcrShandwick i. Japan. Rerufning hometo seaich for relativcs was equally haid,ano commurlng was also problemat ic.-Public t.anspo.tation networks were onhold. wi th many services suspended,, .

As commu.icatio.s and connectionsrere re-establlshed, there were new srrainsrnd srresses. "over the next ten days,:io.es of strong afrenhocks and concernsi.our lhe Fx kushima nuclear power plant.:!e very ieal risks to thc safety of ou..:proyees, says Kxbo.

l .spi te the scale of rhc disaster and:: : :e dramat ic devetopments, Japan,s!::rJbrce was derermined to keep golng.':: aas mind-blowing; there was such as- :gdes;e to continue ihe status quo, ro1..:: :hings normal. The feeling was very

beneath us," lays Myencough.

In the end, the V;gin ream cancelled

-: . sc come ro workj we do a good'rhether of .ot the eartt is mortng

Atlhiko Kubo, presidentand CEO of Webe, Shandwick in Japan, sayslhat many companiesin Tokyo have suwived thequake and retu.ned io business a3 usuat.

We come to worlr.we do a good io[- whethet ot not

the eailh is movingbeneath us

Just one flight duringdespire one of theirdesffoyed by floodins

the lack or transporr on the gtound, andthe company's insistence rhat staff shoutdtake time off if necessary.

Virgin was not rhe exceltion: ,,Fron anoperatronal srandpolnt , the quakc hadlittle impact on Webe. Shandwick Japan,,,says Kubo, adding rhat for thei stafl thedisaster was merely an 'inconvcnience'."Now, most companies in thc Tot iyoMetropol l tan Area, including WebelShandwick Japan, are aiready bacL ronormal tranpower and operating levels..,

To some exren!, it scem! thar Japan'sordinary but delermined employeesshould take the c.edit for shoutdering theturden of the.ounny's worsr earrhquakein livlng mcmory, as well as a Bunami,a potent ia l nuclear carastrophe, and

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with China operadons aie thinkjng aboutol worklng ro ser up effectivc. nutuallysLppoitive conringercy plans.

Reflccting on his cotteagxes, expeiencesin Japan, and hjs own expcrjenccsin China,Al istair Nicholas, Weber Shandwick,sexecxt ive v lce pre! idcnt, Asia paci t ic ,who provjded advicc to the ChlnescSovcf nmcnr on cf l s is communicar ionsand lrelafedness duritrg the SARS crisisand j! lhe lead up to the 2008 Olympjcs,says, "I worked with a nunbcr of MNCSdurng thc SARS crisis in 2003i ar thartime it was apparent howunplepared mostcompanies wefe fo. such amajor djsastcrThey wcre all cngagcd in a mad scrambleto pur everything itrro place. But by thetime the Sichuatrquake struck, rhings wcie

Paul Sives, gcDeral manager of protonPrcducts, which has aj:tcroryin Chengdu,

atso cha;ma! of rheBritish Chambers of Commercc in sourhwest china ar the t imc of the 2008earrhquake; todayj he is chairman ofthe European Chambe.s of Comnercern south wesr China. In rhese rotes, hehas been able to obsefve and to hearabour many MNCS,fcact iors to rhecrsrs, and rhe ways in which rheir clilismanagemcnt !ubsequert ly developed' 'A larSe propofr ion of companiescspecially those with smalter opefarionsr! the Chengdu area did not have crisismanagementplans in place. Butthe quaked1d pfolokc djscu$ionabour how to helprhe ream to cope with future crises.,' he

However, therc is srill moreto learnfrom.arr expefiences. As yer it is unusual ro:lnd cxrensive planning on the s.ate seen itrItrpan,bascd enrcrpriscs.Nichotassrlesses.ar the response to rhe Sichuan quake: iowed rhat the lessons lea.ncd f fom:-RS made things ,,tetre., blt ody a tiftte':::cr" Sives, in turn, admirs thar not all.::rpriscs in Si.huan nade rhe most of-: quakc a! a learning oppo.tuniry. ,iL

-. cascs, while the disaste. provokcd

: : : r rs ion of f t is is nanagemen!, the-.:Dv did nor actualy go so fa. as to

: - r lns 1n place for future crises, of ro-- : re on exst lng ptans. j j

: i::rs in crisis managetretrt suggest.- :s a rcsutt , and despi te reccnt

:- : : rces, China bascd MNC! st i

COVER FEATURE

ailanEic

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Myerscough was in awe at his team s reaclion to lhe dtsasrer In Japan, bur wor.ied th.tth.vwere under immense stres,s.s theywo.ked towards business as usuar.

have some way to go to ensule rhat thejremergercy plans are strong enough"From ny cxpericnce and observatjonof my MNC ct ients l in Chinal , whenthey need active cmergcncy operaiionscenrre functiors with thc HR capabiliriesro manage abnormal siruations, tbey donor always have a detailed ptan ro helpmer team ro pe.fbrtr during a disasrer.,,says Victor Bai , Asia v ice presidentol the Internar ional Associat ion ofEmcigency Managers, and an adviso. rorhe Unjted Nations, Intcrnationat Sftategyfo. Disaster Reducrion

Tlanslalltrg JalancseC.isis natragenent specialisrs suggest

that ef fect ive planning should covefpredictablc ftrndahentals whatevcr rhclocatlon or nature of rhe disaster. ..Thcfirst issue for any company in the midsrof a crisis wiil be ro ensure thc health andsaiaty of all of its employees and even theiffamilies. The blggcstcha ergeto achievinsthat will bc tbe facr that comnrnicationsmay be knocked olr by rhe cvent, but rhco.ganlsation musr bc seen to be doingevcfything ir car to confirm the siruationof ils rreople and to help thcm and theiifamilles. The secondissle wilt betogerits

own 'crisis lead€.ship, and ,crisn fesponsc,teams in place." says Nicholas.

The plans can rhen be adjusted to fitlocal .ondi t lotrs and ro suppolr localreams,just as executlves took rnto accountthe dist inct ive work crhic i t r Tokyowhen inplement ing their p1ans. Baistresses rhe need to pay artention to thispornt 1n China "An MNC can\ avoidthis," he says. ,Busircs conrinuity andcmcrge'1cy ft anagement progrannes needto be localised ro face the chaltenges rhatcome with a disasier. We must consideflocallsario!, and the impact of cuftural

The chaltengc for China\ MNCS ls tounderstand rheir spccific team and irsculture wherher it is Chinese, expatriate,or a blend of the rwo and to predict howa daastci could affect rhem. Tbar insjghrwill thetr need ro be apptied ro the deslgnand implernenraiion of a derailed planthar allows the organisatio! ro suppo.tthe lndividual, and vice versa. Most ofthe hme, we leverage a locat team as themajor fbrce during the response phase ofemergency management. To make effecriveaclionplans and other response ptans, wcnee.l these plans to fir ourresponse read,!,say! Bai. $[

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Brand Furures Rcport re leascd tn 2008ideniitied env;ronmental pollution as a keyissuc tbr Chinesc corslme.s wirh at,nosrhalfsayingthai ihcy were verl, concerned.In a scpalate Landor srudy, about of athird of Chinese iespondeDrs prloritisedthc cnvjronmcnt over the ccoromy afarc slgnlficantly blgler than rhe US andrhe UK Th; is translaiing lnro consumer

"There a.e aDal_\,sts who are aheadvusrDg China ro i l lusirare rhis k ind ofdcvelopment. l/.- lo* lr4 columnistThonas Ff iedman, for instance, uscsChina as a compa.ison when he discussesthe envrrormenr and sustainabi l i ty lnthe US. Hc sees in China roday a dceperuDdentaDdngoia pragmaricself-intcresrbehind corporate social responsibi t i ty .In China, i i ls morc about cfeat ingand co.sol idar ing a more iharmoDiousi

soctety ,i says Baladj.

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In a se[alale landolstudy, aboul ol athird of Cninese

respondentspriolitised lhe

enuironment ouelthe economy - arate signilicantly

higher lhan the USand tfie UK

character. "China sr i l l has ihree 'd i f tywords Lo ovcrcomei Madc jn China .,,eaplains Baladi "For so many people, this

;EAIURE

rs still slnoDvnous wlth poof quality andlow safety statrdalds, and that plejudicelceds ro be addrcsed. A strongc.. genuinecmphasis on CSR in brandirg coul . lbccome a part of the solutioD."

Ihe Cnina CenturyStill, Baladi is clearin the bookthat China

aDd other Asian business communit ieshaven't reachcd this stage so tar, despltehis oldhnh. Whar $'lll Cfiincsc buslnesslcadeB need to tigger a srep up to moresuccessful braDding? "Cnina lceds realvisjoraries who can see rhc lorendal ofthe'Chjncsc century ' . I r 's nore rhan justas!1ing to move up thc value cbainj it'sabout belicvng thar Chinese brands canmake a gcnulne culrural impacr on rhe{orld, to the ertent thar US brands didin Lhe US ccntury'. Lt docs itel a bit likca fantasiical drean roday, bur rhafs how

"No orc 'owns. thc CSR.oncept ycr j i ihe concludes. Tlis pfcs.nrs Chnia wiih alaluablcopportunity lm

CEIBS-ChengweiInnovation China Su mmit 2OII

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;EATURE

bases in Chtu.l or c\tn inoving rhctr erlneR&D op.rarion! hcrc."

0n a llighThe 2009felbrhs maftcd rlre begilning01'

a long lcfm d.ve to rcncw China s mcdicalsysrcm and nidustrics. Now govcrnmenrpolicics a.d devclolng nfuncial aDd hundrrsourccs are pruvrding rbe nrdusift, $,irh a.ontrnuous sLrnlulus iaf growth.

"tNovtutsl sees najor growth opportuninesin China ard we arc com iLled to buitdhgolulrcscrce tlrerc sincc the golcrnm.nt ha\madc healthcarc a lnorit! ard cornnue! rnint.od !.e .efofms to theirtealthcare s\sremn ol'rer to cxland a..ess ro all .llizens, '

Thc l2lh t'ivc YcafPlan relrcrarcd Chlna sambir lors for rhcir b lorech ca!abi l iL iesand ihere lre !or' "over 160 p.ogra.inrcsFumpirg. iorc than USI) l5bn nrto €an!srage drug fcscarch rnd comnierci.rlilatjoncltbrrs in China \!irh more exlecrcd ,accordhg to ChinaBio's rcpatt. Chrn Lilt

J.l.r.! ldld llrc rclon rlso sugg.ns tlrarrnvcsros a'e beconing rnor e lntdrsred i. thissccto. despire rnc i:cfthaL ertensilrclinicalrrjals can sLill nanslat. to r slo$,cr !a!{filntsments of ovo USD]bn iiom vertu.capitalirts ir 2010 reFesenrcd an !r.rea\c of319 per cent compared wirh 2009, ard rharrend i\ likclv to be suppoftcd b! rhe rcc.rrs!..ess oI China\ IPOS

h addit r . rhc go\e nhcrt has pur i. placc!].nry of laxirccnrlres |o encourage.elevaDrR&D At thc t ruropeaf Unjon ChJmbcf01 Comncfcc !r Chira s (TUCCC) rcccrrR&l) Confclen.e 20l1in Sharghal. KPI,IGTax Pdtnc. Crnce Xie cxplalned thc rangeol irccnrnrs Lhri arc curenllt available krthrrna.cutic.h Locating R&D ni China.

' ' ihcrc ale now vcfr mar! k l ! . ls ofncenfi.cs and sublidics so.rrt. iI iircr.rhat thc queslio. ls lot so rnu.h whct]rer or.ot to locare R&l) i! Chnra. but farli.r ho$10 stfuclLre oleratrons rn order ro marimiscthctjcn.llLs,' saysXlc.

Irccnl\ts such as lrusiless rax crcmllnrns

ibr R&l) in 21 d.l .ities on ircone i.onlollshore outsorucing services. aDd.xernpLnnrson h.omc irorn r.cbnologica.l dcvcloprnenrsand .elared consulrlng sefviccs, as eell asrl.onre liom tlansfer of tcchrolog! navcalrerdy prorrd ter y polula.

fvcn though !onc of rhe ni .enr ivcssuch ,s rhose just mcDtiomcd have a sellby datc. X1e nore\ rhar l r is qui te l ikc lvrhat a Folic)' sill be extcndcd 1f lr firs wlrhLhe govcrnme.fs long tcfm anns ln rhisc,r!e. ync. rhe govefnncnt Bill srill warrrc ulgfarle ser!'ces !r a coltLe of ycaN jtcould wellbethar ilic poll.t,lasN bclond iisschcdrled ending. 31 Decenber 2013. '

Pfctirertlalpolicics are also lnrpacring rhcindjvrduals frfdcilatlrg ln R&l), hclling ro.lraw more taleDt ffo the sector "Thcrc s avarjcry oi inccnrivcs tbr indivldual talcrlsin thls indlsffy d.lending on drc locarior.In addi t ion ro dirccr awards, rhcrc couldbe incefrivcs cornected s,ith rher ft,foa(rhe .esidcnfs petnrt coDtrolllng !ld.e ofcnPioyn,cnr m Cl i .a) . thcir ! ro l . rs ional t r>

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Grand DesignsItalian lvlinister Renato Brunetta ouflines how ltaly is fostering innovati0n with china

SBR: The Centre for TechnolosicalTransfer is otre of many Sino-Itatiancollabortiom in the ffetd of inrovation.What other projects have foud succ€ss in

RB: Two recenr iritiarives were rheNovember 2010'China-Italy InnovationForum' jn Rome and the o.going .Italyof Innovators, pfogramme. The forumbrought together companies from fourfcto6 designj life sciencesi bioiecbnologyiand e,govennent white rhe Italy ofI.novators scheme introduced China roionovative ltalian companies with sp€cficttrengths in hi8!-technology. Tbey opened up.?portunltiesforcooperation inveshents,-'\'s and more The first Itaty of tmovatoB

-olect,

for example, included around 250ijlian enterprises wirh a variety of B2B:.:\ es; in the end, 20 or 30 cortracts wseaJed across sevqa.l sectors. It was such aL:.s rhar we expect a.oud 300 conpaniesE _i<€ parr m the next roud, scheduled for

=u 201I jn Nanjing and SharyhaitBR: Why ar€ China an.l Italy well-

as partners in imomtiotr?

products and rhe capabitiry for conbnuou!hnovation. The compdies nay be sma[,but lheir crearive porential is huge. Italy andChina also both have technology-focussedclusters that can wofk rogethcr to developmrovarlve products.

SBR: Fron your point of v iew,what have been the most significantachievemetrts to alate resulting ftom Sino-Italid collabontions in tecbnology ard

R3: Now' these smalte. companies withspecial linow how arc finding their niche inthe Chlna mdket. For instalce, a pfo.tucerof 'a.ti-smog' paint has fourd pertinenroppoltunines in Shanghai as lnftastructufeand industiy make pollurion in traffi.tunnels an lssue; and a company thatdeveloped mechanisms to de,srone fruirshd att acrcd attention f.om food prccessorsand llq'ror maters - rhese ae simple id€as,but, when well-execured, they are invaluabtediscoveries ror companies seekins specificsolutios. Likewise, China has trought som€mnovanons to Italyi a norable exmpte is thetelecommunrcariors sector, in which Chinahas developed ingenious sysiems.

SBR: Are Int€llectuat prop€rty Rights(IPR) still a concern for th€se rtatianimovators in Chim?

R3: We all have to protect the best naturalresouce we have: humar lnrelligence. TheItalian dd Chinese authoities know tharthis has to be a priority, ard we ee wofkingtogether to try ro eliminate IpR-relatedproblems. We believe thar the foms of co-

VIEW FROII IHE TOP

opennon promored uder the new cenreswill facilitate the solution.

SBR: What wil th€ cotlaboratiors meMfor tuture bminess rclations between Chinaed Itary?

RB: The turue of this buslness rlarionshipts the developmenr of whar we are begindngnow, wlrh lhis co-operation. China is in astate of rransformationj China wanrs moreinnovation, more technotogy, which wiilhclp Chinese p.oduts to gain p.ominenceand a strcng repuration in globat n1ekets.On the oficr hand, Itatian enrerprises lookior oppo unities in the Chila ftarket forthen products and invesrmeDrs. The Centreior Technological Transfef and the Cerbefor Desrgn and Imovarion provide a wat roba.lance out this equation to find a win-win

The bencfits of rhis collaborarion and theovcrall developmcnr of our relatio.sblpshould come rhrough in other ways, too. Lastyeai ouf two Prcmie$ a8reed on a target iodouble Sinolralian radc ro USD100bn by2015. That gives you an idea of whar we are

of cose we're not the or y ones pursujngthese ambitions i! China. Many nations arrintdested in this kind of qcbange. But rhekey point is nhar we must be awae of whateach has to offef, what djffefe.t partiescan bring to rhe mix. With China andItaly\ similariries, and our complementarystrengths, I rhi.k Italy has some slecialopportuniiles. But it\ stitl going to be verytough; it\ a lace. $i

Il: Iraly and China,s simild e.onomic:f5 ud rheir characrsisricalty inveniive

= =. whar make these coitaborations so_-:-iile. Like China, Italy\ economy

rn SMES with specific expdrise dd

rlN 2011 www.sbinetcnB5

PROFEgslol{al oPlNloN

Donot PanicTransition management can help organisations t0 survive the loss 01 a key leader

Bv Nicolas Aiacques and OLrentin Duriez

NE SIDE ETFECT OF CHINASfast growth and transillon to a

mdket cconoml is the demand tbrqualified and lalented managcrs

What balpcns whcn dlere is no-onc availabl€

to muage a ctitical p.ojed or activitv for an

Transition management, widery used D

advanced W€stern economfor $js hnd of Problem, is now taking off

very fast in Chlna. Tlls involves dralting

in higlly expei€nced manage$ to take

over maflageneni posirions for a shortpeliod of time, with the objcctive of taklng

urgent actlon and lmplementng opcnional

Trdsition managcment is most often uscd

in the implementadon of a prcject_drLven ldk

forcc perhaps setting up a new companvi

division or site, upgrading a key tunctional

area, of iniegrating different enutlcsi the

cxlert management of a tunaround proiecr

o. a global resffuctuting; and thc lrg€nl

icllacemert ol a kc'y leadd when an esseniial

nanagcr (CEo or CFO, fot instancc)

unexpectcdly leavcs or 6 ncapacltated

That lasl scenafio can be paiticularlv

dramat ic in a tast- !ac€d mult inat lonaletrv i ronment, and even ca!ab1e HR

d.lariments are rhrown by the need to

discover a compercnt replaccment with littlc

0ee[ lmIacllf poorlyhandled, rhe consequences could

be di.e. A sudden departure is likelv to

disrupt or slow doNn operations in thc rclated

busiies uit or acfoss rhe whole companv

Futlemore, timc consftajnts limit not only

thc selection Foccss, but also trainjng and

induction for the rcplacemcnt, heiShienlng

the risl involved ior the company.

Tfansirion managemenr solutions mitjgate

thar risk by using a strict gualiiicat'on

lrocess to seleci lheir managers, even

appointing over-qualified pefonnel dd. lor

rhc best ones, following up with the tdsrtion

managemcnt f i rm\ Parrncfs Lead'ng

ransition managemcnt llrms will also bc able

to adjust the a$igned tale s along the couse

of the projed managcment to fit the specific

needs of rhe ofganisation's situtron that

could mcan piovidlng anorhei icplacementi

or developing thcir fist replacement\ skills

lna re.cnr cas€, a latge MNC saw his CFO

for Asia departing befofe the cnd of his

mission, Lcaving o\€raLl business uit financialpiocesses almost non_eistent. At the same

time, a new CEo was taking oler ope.ations

Thc chojcc of a iransition managemenr

solution inlhiscase wasimmedlatcudqutrc

cleari it was c.ilical to reduce operaaonal

nsk and to secxre fsancial aiignmcnt wtrh

the corporate funclions. whilsr preparing

rhc ground for a new CFO. The m'seon

lastcd slx monrhs and included adeqxarc

imllemenration of procescs and coachrng

of thc new CEq Poviding clervrhing thev

needed for thc new CFO to make a liesh start

at tbe cnd of the mission

Perlect TlmingFot al l lhe lcasons mcnt loncd abovc

ffansldon nanagenenr is often tuiven bv

emergency sitlations, in which therc is llttlc

rime to act. although ilnding tle iShr person

inevilably lakes rtmc

When thc managd leaving die olgan$at1onis d eryatriate, tbrce to six monlhs are often

required to bring a succesof, or to l_nd and

h;c a replacement thiolgh a head huntlng

fim. In casc of a local emplovee, $milarpaftcfns ap!l), Nith at least two months

requircd to find candidates, onc month lor

the rcsignation, and a probation perlod rhat

increases the level of rist. very high in both

cases an!rva). Fltdnal assistance liom verv

e4erienced managef can hel! o4an6anons

to succeed d€spite this demanding timelable'

bu-liflg tlem enough time to search tor a new

The tol lowing case is qui te a tv l ical

examplc: ln one company. a prodlctlo!

managd was fired lol lacl of rcsuhs, and

the genelal manager al the samc Plant had

to leavc shortly afte$ards becausc of health

issues. An expcrienced translhon.general

managcr wlrh a st|ong backgrcun.l rn process

and pfoduction came to take over both

positions in the cridcal period that followed

Tlat allowed fo! thc ne.essary lour monrn

ffansition period, duting which time a nNlv

hircd general manager uiived from Europe'

and th€ delegatcd managels roLe could be

redeflned to focus on production relatcd

Plck and lixBeforc optlng for transrnon managemcnr

cach company ha! ro coisider several ke)

factors h oder to identifv the right soluhon'

Thcir .elative importancc depmds on tl€ q?e

ol assignment, but they rcvolw malrnv aroud

thc flexrbi1iry rhat can be offcred (tine-load,

position, tuncdonl, mobilitv)i the senlorttv

and experience of the ildividuah involvedi

thc HR issues, includng fot instance visas

and td; and rhe cosl advantage compared to

the rccruitmcnt of a newmanagct

lf transitlon management scems to bc

the right choice, they would also have to

make a decisjoi abour the advantages of an

indcpendenr fansition managcr compaled

with the bfoadei fange of scrlrces and

slppo|! that could be otTered lry a t.an$xo!

managemeni firm - and in either case'

they would need ro cleck wbether or not

a manager could be avallable immediatery

ensdngborh lle seoritv of the operanons

and the stabiliry of tle rc.m' and limiting

In nany sltuadons, bringingin anexrer!

mnsition nanager could provide the riSh:

solution $A

About the Authon: Nrolds 44.4l.t

Joflet Pl.sidert al the Fle"ch Chaflber

of cmtue/e ik Chind, is the chdiffi't oJ

NeiBtidge Painas Asa Quentin Dt/ie

tu^ NNBndge Patrnis Chind ifl Sha,ghdi

NNBndge Pdttn,s, headquanetul in ?atu

v'th alfces i, Lodan, Bldek' Shdkshdi

Munbai and Movav, is a leadins JiffiplorilisE aistaa& ta aryafltsnons Jaclngufgdt of can!]d studhons

E

DIALOOUE

Motorcycle DiariesIn Conversation with Gabliele Del I0rchio

SBR: At present, howis th€ motorcycle mai-ket in China?

GDT: There arecurendy 18 million mo-torcycles sold in Chinaevefy year, so th$ is already the largest marketin the world. It's nevereasy to step into a newmarker, and there is aperception thatth; is anespecially tough market1br mororcycles, bur thathuge figu.e indicates

that it's not as difficulr as some peopte

We do believe that ar a ce.rain poinr inthe development of the market and ihecountrt the motofcycle will occupy thepositior it dese.ves. Wele doing what wecan to speed that process up.

SBR: But there have been significant re-strictions on flotorcycle use, especiallyin the citie6, How have you dealt withthis?

GDT: As I said, I dont thinl it's as a difficult a situation as is comor y rhought. Atthe Diavel media lauDch in Shanghai, I wasasked how we deal with the ongoing ,bartle'

betwem motorcycles and the authorities, burihe truth is. there is no batrle because ve areresponsible, and we encouage Ducati own-ers to be iesponsible. Rules are ru1es.

This aftitude has helped us to work with theregulations and to cultivate positive rela-rions wirh the local aurhorities. we,llbuildotr this i our Shanghai centre is a base fromwhich lo develop our good relationships,and then when we establish more centreselsewhere, our distributors will be respon-sible for estatlishing further relations.

The value of these relatlonshils could besomethiry we understand especially well asa. Italian company, because although weare not newcomers in ltaly, ii is still veryrmPortant to have constructive relation-shils and networks in that market.

We're also conscious of safety and theurban envlronment. Even though we be-lieve thatthebikes are alreadysafe, we arepushing to mak€ them safer still. Anotherpoint isrhatthe cities are alreadycrowdedwith traffic, and at the end of the day yor.rcan only fit so matry cars on the roads.Motorcycles could play a part in decon-gesring China. This codd also help us ro

SBR: What othel challenges do you facein this mdket, mil how are you tac*lirg

GDT: Sone of the challenges for motorcyclists in China are psychological. ln themDd of many Chinese would-be riders,the motorbike isjust as it was in Italy backin the '40s or '50si a bike is a mode oftranspo.t. .o more, .o less. Mobllity is ofcouse a function of the bikes, but it goesbeyond that. The associationwith freedom,and the company of other rideis, rhe ideaof travelling for pleasurej these are thingsthat are less well establilh€d here.

The concept of expression through aproduct and an experience will grow justlook at the way the sports car has becomepopular h€re. The Shanghai Ducatl Cafd,the spectac'rlar laurch of the Diavel andthe iaunches that will follow it we have.ew products every yea. will drive thisprocess further. We'll also be participatingonce again in the Beljing InternaiionalAutomotive Exhibition. which we joinedfor the fiIst time lasr year as the only motorcycle matrufacruier at the show lXfi

ui

SBR: What is Ducatih long-t€rm strategy

GDTr In gcneral . our internat ionalna.kets are extrenely important fo. us.Ducati\ home market,Italt in factrepre-sents only 20 per cent of ou sales. Wlthinrhe renainitrg 80per cent the Asia. marketis b€coming itrcreasingly significanr.

we've had Asian cusromers for many';ean, and wc've been preseDr h the region:or some time. But in the last few years;omethmg changed, and Asia becane ai.v strategic market. A! aresult, we see an:(eplional opportunity ro push our brand::d ro make ii even ltrongef.

re deation of Ducati Asia Pacific has:€en a crucial step in rhis process. The:-ce ln Shanghai can coordiMre our:::ivities from India dght acrosstoJapan.,l.er rhe last few yean, we've made an:-ort to enter the a.eas where we werc:- . r 'oLrsly rot pres€nt, atrd to do'rb1e:,: presence vhere necessary; row we,re+::,s to increase our rotal number of Asia-r::::lc shoMoons fron 29 ro 50 in the-rr: :ew ycan and that tigrre excludes.--:. and Austfalia. Wele also building:: ir closer ro key markers.

I DUSTRY NEPOII HR

Source: Mlchaol P.ge

stsaNGFAr Brsr\sss rur!1rJ\{

Gruwing PainsAs companies expand across China, can the HR industry help organisations to cope with thechallenges associated with rapid growth?

By Hunter Braithwaite

URING THE RECESSION,when many f i rms stumbled,Ch ine se f i ims cont inuedaggressively hiing new talert,

with the expectarion that the downturnwould cor.ect i tseu soon. They wereright, and now MNCS are struggling tokeep up. Accordlng io a ieport issuedbyrecruitment consulrancy Michael Page,53 per cent of f i rns based in Chinapredicted that they would expand in thesecond quarter, compar€d to 47 per centin Hong Kong, 36 per c€nt in Singapore,and 34 per cent in Australia.

However, growth brings a series ofproblems. Already, there is even fiercercompetition i. the frst-tier cities, whichin turn has led to rapidly lising salaiesand retention difficulties. In response,many f i rns are moving to cheaperlocat ions-China's fast 'developineinrerior cities. These thiee issues, risingsalar ies, quest io.s of retent ion, andwestwa.d expansion, are the chiefconcerns of HR firms today.

Bising coslsCost is the mair reason that industries

ale leavins Shatrshai for second- andthird'tier cities. The most visible aspectof ihis increase is salary level. ln China,68 per cent of employers surveyed for theHays 2011 Salary Guide recently raisedthen salaries by 3-10percent, atrd 22 percent by more than 10 per cent.

Laura Shen, Director of Hudson RPOand talent management in China, saysthat some of theii clients are seeing a 25per cent jnc.ease in salary benchmarks.The.e are many reasoff foi this. "Thehigher expectation of candidates, theirfani l ies (due to the r is ing cost ofljvins), as w€u as fierce competition" all

3a

contribute to this upward tre.d.

The problen could also worsetr. Manysalarles have not yet rise. wiih inflation,creating additional pressure. MichaelPage notes that in ChiM, only 44 percent of wag€ growth is in line with thein{lation rate. 29 per ceni is below it,second in the region only to Singapore,with 31 per cent.

But it might not be a financially viableoption to continue laising salades againstthe cost of living benchma.k, inc.easingthe overal l cost of business. In the

HR department, the challenge lies in

"justifying the high salaiy expectations,getting a sufnci€nt budgetto attract newtalent while at th€ same timemaintainingparity for the existing employees," saysShen.

Christian Gro€eer, client ielationshipmanager at Fiducia, a managementconsul tancy f i rm, explains why newhi.es can command such hish salaries."The ability is there because the marketis th€re. In many industries there is asubstanrial pay inequality, so you can

Predicted staff numbers for Q2

I

I

ffits

lncr€ag€

Dec|€aae

6dund.ncl6 or ddmi:i.g)

Remain stablo(repl.6mrn hlB only)

30/o

China's employe.swanlto grow' and lhey need poopleto drlvegfowth,

. lLen sct a 20 ter cctr t salalr- junrp j l lsrb! * ! r lc ] r jug corntanics. Sha.ghdi of .6Ihe bcst and rhe $orst ior rhose rr ! l rg ro

You l rnd the besr iL lcnt !ool . bur i lsoIhe most c.rm!eLr| ]o. sars Cr{ 'egrf .$ho rc l l jscs thar Rhl lc mor f i rnrs pavthe highcr.osts. sohe crnnot. l fofd to' 'Thar 's a p.rdi .a inert lor ran! f i rms.Ar al tcfnar lve is to Iook ro orhef ratcnlpools. for inst incc, i r m18hr be casl . r Logcr a lb i . l8ner Blro l ias co e to Chintrtof \rofk Io do rjob inf rh. sa,rc n,on.!. 'l lerpars. ns the! a(.somct ines cal tcdare usual l ,v nr runio, posrr iors { i rhourin!( h cxpcr,e. . r ' l lcsc people bf i t rg arr f tcrDar l0ul skl l l sct thar ls h, fd to tn$ i rh Chnrese cmplo, lccs

J-aura Shen ,L \o rcconlnends cfcar ivesolut lo.s for l i rms ihaL.annot at1b..1to srnlt,a prr thc hrghcsr Uicc. \Vhcrsourcrng and. l t |a. t rng rnlenLs in rddir ionro crsu. lng a rcasonabl ! .ompcr ih le

Fackage. companressho! ld . ls . rcvic\r and denorsn.ateIhcir !n ique cmplo! . r b,and and selLingpolnIs Lhrough al l possiblc Flarforrnss!cn as.ampus rccrurtmcnt. socrancnvorkmg. crhrbir lons. drd mcdia i i .1

INDUSTRY REPORI HR

p'ess conicfe. .es l t s in i l regraredwor d, and rhe i i r ins r l rat ut i l ise rhis \v i l lbe thc most s!c.essf ! ] .

westwald Expansi0nAi l rnduslr j .s a,e qulckly cxp.ndi . r .

but opcraMs .osts in i isr r lcr . i r les hnvcbtconrf l r rohibi t i re l ! h jgh Th€ answrrseenrcd too sinple: nrovc rvcst . i i l t f !n!

big busi .csscs a,e no{ rapf lng l r ro(hese snal lcf c, t ies. I20 ol $hich hi !e

Pofulr t ions o! . r o.c in i l l lo! . Produ.Lionrs.hc!Fcf . rcal eslare hrs Drorcpotenr i r forrFpf.cral lor . .onsumcrs hele rn. ' ersrngdlsposibl . ! r .omes and ovcni l l e. . f , )ml(g 'owth.ates i re c l imbing r .p i lL! . ' : r !sEmma Charno.k fcgioral d i .ecLor ofHa_rs jn Hong Kong and Cbma The,euchrnl cxamtles of th; Microsoft \ !cnrro lmar. in ShafdoDS p.o! i . .e MorgaDSrrnl .v has set up aD oi icc in Zhuhai . lTdnd hlglr te.h.ornpani .s h. \e mo\cd toCho.gqing,Lnd Chcngdu

Llowe!e, , endlcss expansi .n isn rpossrbl . , especl , r l l ! grvc. rhe pervaslrc

Shanghai offers the[esl and the worstfol lhosc tryinu t0letain employees.

"Yflu tin$ ihs*e$? iaiant p0*1,iftll *l$$ ih* illsst

sIRlSstiii0n." $aysfirs*ilsr

lhrr ls l r r i 'o

IIIDUSTRY NEPORT

GAINING MOMENTUM

E"#-**:e*ifu i':m**:'":'''*:::iiffi ilil]'*+t';l';dn*in organisations

ru t*nffi**u***r[*u'*;t*

co-pue!l!!!P-!Eg9!!

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trui":;n'*gl';m-"nril:"#:rnm*uus;dFtiytgyt^wy.v

ili-oco'rtar"t.t"'eteao"'' TX,:fiil::'Hff::- ffi:';;1'1"'"ti1,p"';',i$iliT'ft:"uvt

rrlM wt.at dovou see companies !:l::::H:l;;'"s a connm;Iment to bu'ro

L *[itl**t"*;"',sr ;$iu: *F, ffi :"s,;urxr$:"ff ,',$":","J;I"ilj'i*:";-".-''" r"x"oJ#1,':lT::;ll'1"'i':HJ;';;'*'s

curtures and

1i$:$#ipJffi l;.i,''';,. gu**tlfl#*d'iilil;$-,"i:i-'"*',i*nn'nn"5*g*;li,:l"iil"#.;.j:Hl':J:"j.:ir[n:J'"*"""":*';1

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r '**ff**:*-'.t't**i*,i'",'-l+g:;l{*n*r;I :::::;"#"'Jl'l',ili*,''-,",i:l;fif,i{H:i#1"{fi" t****i,+*g**:''.ru:''r*r;::t:"*rrn

i-"*" *,tur ""n"g"ten!

consulting

w"l:in, ** Plnoln*luln "*

il"o',?"tJili, *" "0

t**n Avenue shanshar 200120

Tel: +8621 5836 0870Fari+862158360871E.mail: mlo@Pfl onenL'im com

II{DUSTRY R:PORT HR

!:where ls everybody? tnduslryis expanding into more remore regions-butcan cofipanies fhdrhe manpowerand rhe managersto peoptethel new oDeralions?

ralent shorrage. "There\ a shortage ofthosc wiih relevant experiencc. The !killsare out tnere, but they jusr donl ftatchIhe pace of growrh," says Andy Bentorc.rnanaging difcctor at Michael Page.

There's also a knock on ef fecr.Expaffion requires appropfiate sulport:t the legional HQ but as ye! rherc

:r some ol the aleas into Nhich MNCS::c now expanding in Cbina. . .The

i :gges! candidate shortage occurs jn: .mpanies wi th their fcgional , of Asia: : . i f ic . headquarters in China," says: : t r rote. "They wanr locat candidares, :i regional exposure. These a.e often

i :re few Inanasen with decp experience

Moreover, the reouitmcnt HR firms arefacing problems slrilafro those affcctingtheir c l icnts. "The support networtsaten r in place," lays Benrote "Thcre arevery few rccrultm ent companles who havean esiablished office ir chengdu, or othersecond ticr citjes. We have to find pcoplero staff th€ser wele itr the same losjtionas these companies. However, irwill catchup within 18 months."

Hugo Zhang and Pierte-Yves cerard,managing dnectors of Bo Le Associales,Ltd. , have seen a shatp incrcase in]nanagcB and executives located oursldeof f i rsr t ler c i t ies Between the t i .stquartcn of 2010 and 201I, rhe f i rm sawanincrease of 175 percent iD sccond+iercitics. This ir compared to an increase of59 pel cent in fiisr tier cities. At 49 pefccnt ofnew hifcs, middle manageftenr isthc most lighll, sorlght employee grou!in developlng cities. "Today, {e see astrong demand tbr a start up minded

sales manage. or direcror as stilL maryLnrcrnanonal com!anies are coming roChina ot want ro iransler new lfoducrsto the Chinese market ro follow cvolutlonol demand. HR dnecton with highermatragement vision are also in strongdcmand," say Zhang and cerafd.

There are mary reasons why a middlemanagement cm!loyee would abandon thetirsr'tier wofld. "People afc disap!olntedby the qual i t ] of l i fe in Shanghai .They want something mofc retaxing. Insmal ler c i t ics, the commurcs are les! ,"says Gerafd The benef i ts are fur tberfeachlng thatr les! t .af f ic . Taking aposrtion in a iemote locatiotr rranslatesinto responsibl l i ty and commitment,and can nean quick advarceher i fofthe emplo_\'ee. A succcsstul firm wouldbjghlight the career porenrial for takingsuch a posiilon.

Cbristian croege., howevel, rehains rrr

{ l

I aajor tactor is educar jon. Whi le- : : : : are rnnuherablc degree-gfant ing

::anmes in China, the vast majoriry' : .enr graduates do nor havc rher:ence required for even enrfy level

! !r srNrss rrilrn\r

INDUSTRY REPORI HR

Addilional research by Susie Gordon

As businesses grow and develoPac.oss China, figures released by najorrecruitment and Human Resources firmshishlight risins sala.ies as a key concernin Hl 2011 and beyondi sufveyedemllolren suggested that the iisc couldcont inue lnto H2 201l , and 2012.

The trend was set against a backdto!of increasing competition for the tightralent. especial ly dur ing a pc. iod of

Of the employefs surveyed for rhe

On average, by what percentage d d vo! ncreasesaaries in your iast review?

when you n€rt r€v ew bywlrat oefcentage do yountend to ndease saiar es2

Moneg Money, MoneyThree major salary surveys for 2011 agree that the rise of salaries is a critical issue for MNCS

Michael Page Q2 2011 EmploynentItrdex, 9,1 pei c€nt predict that buslnessconditions will femaln stable of improvethfough the second quarter of 2011,and 53 per cetrr p lan to increasc theheadcount of thcir wolkforce. Thisngurc puts China firmly at the fofctfontof gfowth by headcount in the rcgion;corrcspondlng figufes lrom Hong Konga.d Singapore wcre 45 per cenr and 16

!er cent fespectively. Despite this healthygrowth, reslondetrts acknowledged thecballenges they faced, and 57 per cent of

rhose surveyed saw wagc increases as themajo. cbauerse in HR.

The Hays 2011 Salary Gulde drawsattcnrion to the same ploblcm. The Haysreporr a lso iourd t lat ski l l shorragesare an ongolng problem, cspecial ly inthe financlal services, IT and finatrcerechnology. China suffers tioma shortageof candidates wi th high" levcl Engl ishskills. With th; supply and demand inthe backgrorrnd, China saw the lighes!increasc in salades in the Asis_Pacil_tc

aNb*a r{b6%

a *brc1

aaa

aaa

oaa

II{DUSIRY REPORI HR

The.eport found that 68 Per cent

of employers were puttitrg salartes up

betwee, 3 and l0 per cent, while 22 Pelcent of employers were increasingpavbymore than 10 per cenr Further in creases

are expected itr2012. with 51 per cent of

rcspotrdents planning to increase saiafles

by 6 '10percent, and 33 per cetr tbvmore

Benefits are an important benchmark

of a compa.y\ Performance The HaYs

r€lori found that 59 per cent of Chinese

firn1s surveyed offer health benefits Fortv

nine percent offer housing allowan.es.

while 47 provide life assurance Around

33 per cent run Penslon schemes

The Hudson RePort for Q2 2011

revealed slmilar trends Hiring is on the

increase, with 77 per cent ofrespondentsexpecting to recruit more stafi in Q2 up

6l net cent saldthat candldates'

denands lor hignelsalafies werc

making it haflel tolectuit top talent

from 64 per cent this time last year. The

denand is strong in all areas, but saLesprofessionals are part icular ly sorght

after, Nith 60 per cent of employers

inrending to itrcrease headcount in this

field.

Indeed, 73 Per ceni of resPotrden!sacros! all sector said that recruiilng top

talent has proven mo.e difficult during

the past 12 months. The main challengeas reported by 37 per cent of companiessurreyed is finding the right stafl Wjth

rhis ptessufe, lheir Dther concernsincludedskitlshortages andincreasinssalary demands. While 20 pef cent of

respondents cited rismg wages as lherr

key concern for the secondhalf of 2011'

61 percentsaidthatcandidatet demandsiorhigber salaies were naking itharderro recruit top talent.

Key business concerns for Q2

Waqe. grcwlh

Ac@6s ro tunding

ExchanF ral.

Oflico r.ni.l cod3

Talent r€iontion

lmpsct ol JaPan oarthquak€

r6%

-15%

-114.gl 9%

*: 2r/r

Key retention strategies for 02

Increas6 h lt86 PaY

WorkPlac. flonbitty

Training and dev€loPmnt

Perf orm.nc.-ba!€d EwaKla

27%

al 2rr'o31vo

,sr!:w.tl9*it!!gl,s3!!r&a?ls!i!.lm& 40%

Source: Michael Page

Reasons tord fiicultes r recrutng iop lalenlsou.e Tha !"d5oi RePo i Ch na - m 20r l

-I

Cri t lcal HR chalenge in the next s ix monthsSou.e The Hu.ison Repod Ch na' 02 20i1

! r ' ,s . . ' , , , , t ' , . , , ' . " . "

I R - , ' , , . : " -r , , , ' , , "

I ; ' ' r , ' ' r , " . rl : " , ' , , ' . . t .1"." . , . , , , .1, , ' - .

IIIDUSTRY NEPORT HR

realisdc. " Offeing pcople cash incetrtivcshas a l imi ted ef fect ." And i t l !n\ justwester.ers. !!White collar Chinese areeven less wi l l ing to lcave Shanghai,because of the social status associarcdwith it, butalso sinccan officlal Shanghairer.lence opens up more possibilirics forwoik, leisure andtheirklds' education."An increased hesitancy to nove can beexpected ftom candidates wirb fanilics.

nGtent0n s0lutl0nsMany companies have tr ied ro use

highef salarles as incentivcs to cling onto ro! talent. But even then, retentiondifficulties can persist. These conpaniescan also th ink about more crear ive

Moie local ta lent is one opt ioD.According to many, i . tegrat ing localtalenl is a sensible approach. "There\lcss risk if the workers are local. Thcyalready bave a nctwork in the area;then fahily is thcre," says Bo Le's HugoZhang. "China is big enough to hostmany di f fereDt cul t ! ra l d iv ides rharmust be accounred fol. Ir is best ro hirelocal." Michael Maeder, ptacrice leaderautomotive and industrlal at Difecr HR,agrees. "Due to big regional differencesand a general reluctanc€ ofcandidates torelocate, it n diffi.ulr to artracr chineseemployees tiom a wider area. One couldeven compare iiwirh convitrcing soneoneto move liom one European countly ro

.Ofiorlng p€ople cash incentives has alimired ottect," says Chrisrian Groog6r, cllentrelarionship manager at Fiducia.

Ihete are manyreasons why a

middle managenentemIloyee would

abandon the lilst-tielworld

These condl t ions make i t necessaryto achvely pursue qual i ty candldates.Charnock says that "employers are.ow offering a faster career path" fo.those wllling to move. "Our advlce is roprovide a persuasive relocarlon pacLage

HAYS Recruiths exnerts

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. :h ths professiona know howwe can he p you ach ev€ tasting impact, e ther by fnd ng you the r ght::'ron who can tfansform your busness orthe rightlob to transform your fe.

:'e passonate aboLrtcofnect nq ourcandldateswith the r qht job for them. That,s why, for over 34yeafs,: ,. powered the world of work.

'-l out more please contact yoLr oca Hays off ce.

:rt ct Hays In Shanghai byen.lllng shanghai@hays,€n orphoning +A6 212!22 9600,

::'ta<t Hay! in Beijiq byematlins [email protected] or phonins + 86 tO 6598 9122.

::nrt<t Hays in su2hou by emaiting [email protected] or phontng +aO t2 6289 0288.

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lays.cn

. - i

INDUSTNY REPONI HR

Employers n€ed to convince emPloyeesthar emerglng business hubs, such a3chengdu, plciured, otl€r genuine care€r

Source: o Hupeng I Dr€amstime.com

"A study rccently came out.lf you onlyuse training, productivity will increase20 percent. But if youuse acombinanonof training andcoachlng, itwill increase88 per cent," says Peter Kar lsson, aloroer Olymlic athlete and coach whonow works for conchl!s.

"Managers need moie t ra in ing andmore coaching. Cbina has a tradltionof holdlns back on trainins. They'rescared rhat people will leave. You can'tjust train; you have to coach, to cfeatesyncrgy. Th€n they'11 stay. It's eve. moreimportant ir .emotc areas. You havc tobe self-sustained. You can't fly it in allthe time. You have to cr€ate your own!uccess," says Karlsson.

"Candidat€s want to get a good salary,says Bentote, "but there's now also alor of thouglt about where the position

* ' i l l get them." For th is.easor, theimportance of coaching and trainingcannot be ovelstate.l.

0uick Chan[eThe place where these charges are

most vlsible is the quiet factory floorafter Chinese New Year. The holiday has

traditionallybeen a time of high turnover.as workels travel to theii hometown andretufn, of ten to a dl f ferent posi t ion

Usua1ly,lt rookfactorles i. Shanghai and

Guangzhou about two weeks to.eturtrtofull capacity. Now it takes as long as twomonths. "Now, many mlgrant workersare stayingin thei home provinces Thevprefer to be closer to theii lamilles, andalthough they are earning less they mav

be ablc to save more of their income,"says Fiducia\ Christian Groegef

This shift js creating a vast leveling it

China, and h is speeding uP, rather than

slowiDg dowr. "Ovef the next ten years,

a sigrificant numbcr of new citi€s in

China will becomc the top cities in the

world," says Andy Bentote of MichaelPag€. "This is based on PoPulat lon,GDP, and other factors. I f we fastforward a decade, ir's won't be just theChengdus and Chongqings." with HRdelartments tasked with managing lhehulnan element, the immediat€ future of

doiDg business in China is latgely therresponsibility. |l[

for quality outoflown candidates."

Maeder recomnends a multi prongedapproach. There needs ro be a financialincentiv€, but the relationship betweenthe eml loyee and the management,and the overal l company cul ture, a.ebecoming increasingly important. Theemployerneeds ro create an environmentthat welcomes newcomers, !o rmplement"reachable but challengins goals," andto foster mentorship between new andestablished employees. Aspects of ftejob such as f lexible worklns hoursand workplac€ design should not be

ceneiation Y has often been accusedor hopping betwecn jobs. This canbe discouraged through deferredcompensation plans and co'rnseling to"nodeiate unrealistic expectations foflast development," says Maeder.

It is also impoltant to offer coachinS.According to Michael Page, companiesln China atiempt to retain their staff withcoa.hing and training, and 3l per centoffer extensive training and development

Ilrore creative inconrives, includlnga mix ol tewards and Professional developmen! Goul(t b'

arftactive loi comPanieslhal n€€d !o.void the flnancialburden ol risihg salariesSoutcej O Adamgregor I Dreamstime cd!

CONCHIUSFACILITATING EXC ELLEN C =

/ - r - \ r lNl l Dv L a)a, laswrdERrAftfr."',''

Running Like GlockwotkWith six decades of diplomatic relations, Switzerland and China areoartnersnip

t

By Susie Gordon

. ASI'I'EAR. CH]NA CE] ,EBR-A IED

I 60 \:ca$ of dlllomatic rclallons wilh

I SN(zerland ft wns a Farticula'lYI inponant annivesar) . !ncc the

Swiss governDcnt lvas one ol th. ilNr n

Eufope to recogiise thc People\ Rclubllc

ni 1950. Uo$'cver, Sino_Swi$ tradc goes

back Lo the l:ltb C.nturv. $'|en Chlta

ftaded silk for Swiss clocks and $al.hcs Bv

th. cnd of dre 1E00s ffade was flourishjng,

and thal has conrirued to the preserr dal'

Thc fi.st ioinr rc! re was €stabllshcd 'n

l9E0 when Schindler stated Lo manutacrure

elcvators, and many fblloNed in 'rs

Pake.

slch as Novarris, Rochc, Nesrlc and ABB'

S$'iizerland lras invested heatil,! in Chinese

nledicine. nuchinc|I. electfic aplarrtus and

chemjcals, and rlthouSh Chincsc ld.jgn

dlrecr inlestmenr (FDI) into SwirTe(land

is comparar ivel t sDrl l ar USD10m. i r js

Iladlng UlAccording to lccent f ig!res f rom rne

Swiss Fedcral Cusro,ns Adrnustratron.

Swlsscxpofts$ ChDa rotal led CHF'12.4bn(USD1.1.08bn) in 2010, dlsPla!r ig a

srosth ol 35 per cenr fiom thc prellous

year fhc nanr secrors f tom rvhich

Swltzcr land makcs exports !o chrna afe

st iL l machincfy, satches and prccls lon

i inrunents, account ing iof around rbrcc

quair .$ of rhc tdal Watche!, pfccrslon

instiumenLs ald j.s'e1rv to the lalue ol

CHF5.8bn (USD6 59bn) were.aportcd

in 2010, up 45 !cr cenr f rom 2009

M.rchjnery crporrs rotal lcd CHF3'5bD(3.9;bn). up a6 Pef cent

' l 'he Consul Cencral of S\ t i tzc i l r f ld

i ! Sharghal , Helnf ich Scl ie l lcnberg.

sals: "A1frosr three !e. .enr of aLI Swiss

cxtorts go to MaLnland china. To Lhc

bcl t of my kno$ledge, wc are curfeni l l

the onl , l Eu.opean countrv ro have a

t fade sufpLus e' i th Chinr, which total led

CHI L. : lb! (USDI 6bn) in 20l0 '

Swiss acrivily i! China ls tbcussed inthe

Yangtze Dcl ta lcgion, BeihaL aid thc Pea' l

RLrcr Dcha Accordlng to Rcne Fofster,

prcsident of SwissChIn Guangzhou,''Arcunrl 100 Swiss companics are located

in the Pcar l River Dcl ta, a l though the

econonic s lowdowr i r latc 2008 an' i

2009 af tncted most Swiss compai ics in

oui area. cspecialLy lhe expoft machine

Traderclations could fcceiv. asignilicant

boosr ln lhe n.af futufe h a notc thr l

could bc hlgely neaningtul for Sj io '

Swiss business ie laf ioos, ncSonartons

$erc launched at thc beginning of

2011 to broker a i ,ee r iade agfeencnt

betw€cn China and SwrrzerLand Si lch

an agrcenent Nould be higilv bcneficial

lb. both counftles, sincc lrad. betwecn

rhe nat jons is com!lemenrarv rather rhan

compct i t i lc . l f Lhc dealrvcfe to bc s igncd.

Swiss l foducts ard servlccs would €vadc

tarifB and !o! l,rritfbairi.rs, gi{lng thenr

a clea. ad\antage over companlcs rrom

EU countr les. lhLs $ould mean thar

Chinesc producls could re!lace European

pfoducts in rhc Swss narkctpLac.

tlnanclal SuI[0nAlLhough Switzcf land s reputat lon

foi f ina!c la l cxpert ise ls alread,! welL

.stablishcd both at home and i! China, the

kcy flaycr! havc n ot becomc com!la cer t.

but remain ambrtlous

UBS was rhc l is t Swiss based bank to

cst.lbiish a ph,lsical lresencc rn thc Asla

Picific rcgion in 1965. halnl) rhrough its

wcal th managcnrent bul in.ss, and i r has

bccn acl ive h.rc ever s ince. l rs domesnc

s.cur i l ics pLarform. UBS Se. ur i r ies

Co. Ltd. . regis lered jn 2006, sas the

turst forcign inlesred secu.ities tirm in

China to gain fu l l l icenses m cond! ' r

building on a strong

securities bf okerage, sccurirjcs inacs!mcn1

consuft ancy secorities pf oprlcrarv tradrng

and sccur i r ics asset managcn1enr ' But

despltc theii succcss ro .larc. accoroln8

to Dar id Ll , c latmxn a!d counrrv Head

of UBS China, the comlany rvalrs Io

take thjs furrher, pu6!ing expansron rnto

new lociLrlons. mosi reccnil-a 1{angzhou

withour com!romising t le qual l tv thatjs expccled lion Switz.rlard's finalc1al

As China and Shanghai in partrculaf

nurtures a stronger f inancLal scctor,

tb is has becone mor€ Inan a onc-waY

crchange The Bank of Chlna r 'ccrved

approval fron th€ S$iss Fede.al Banktl8

Con,nlssjof l in latc 2008 Lo open two

subsidiaries in Gen€va making it the insr

Chinese blnk to establ ish a prcsencc in

Scientillc Progressthe Swiss ch€mical industrY has

ex!er lcnced stead) growth rD rccenr

ronrhs. l lat io l f Koi tmann. cnemrcat

conrpany Clar ianr 's CEO savs: "China

is one of our iaslest growing rcgions in

re.ms of markct s i2c and sales turnover

in rhe past few yeas ' BI the middlc ot

2011. Clar ianr plans to halc invested

appioxlmately c l lF150n1 (USD1l0 3E!,

over lwo aDd a half Ycars. A host ol nc$

projccts makes rhen cornmrnent to rne

markct cl€ar. "In ordel to slrenglnen our

prescnce in Greater Ch'na, we opencd

a ncw 10,000 sq m headquartcrs ard

rechnical appllcario!s centrc jn Shangha'jn Ocrob.r 2010 Orhe. dcvelopmerts

included a ncw piSmenrplanr h HangzhoL

r i r l o lened in Ocrober 2010, , rs weu ar

a nul t i -p! f !ose plant in Zhenj tang 'n

Septemler 2009 " 1herc nrc morc plars

in Lhc pip€l ine Later i ! 2011, Clanaf:

wi l l o len a new Plant in thc DaYa Bal

induslr ia l hub in Gua!gdorg to ce:

Steady GrowthSBR talks to Heinrich Schellenberg, Consul Generatot Swiz.efland in Shanghai

SBR|What is lh€ curentstatuE of bital€raltr.d6 between Swilzerland and Shanghai?

HS: Trade is dynamic, and has been grow-ing quickly.Ihe blatenl ttade votune stoodat USD3 4bn in 2A1A which is especiatiyrmp€ssrve ifyou considerlhal lhe figure wasoily IJSDl 4bn n2006 Laslyear Sino-Swhsinports and expods grcw by 40 percenl. Thema n exporls from Swilzerland lo Ch na areph0togmphrc afd opl calapparalus watchespharmaceulica s, fiachinery and precisionlfslruments. Reciprccally Ch na exporls slan.dard consumer goods ljke clothing, fumilure,shoes, computeB e eclrof cs, chemicals, of-iice nachineryand autornalc data prccessinglo Swilzerland.

SBR: ln which sectorc are Swiss invest.menls f iosl pfoninent in China, aod inwhich areas of lhe country?

HS: Swiss nvesimenl inlo China is focusedin lhe Yangtze Delta reg on, bul the€ is alsomportant aclivity n the Bohat area, as wetlas lhe Pear River Della. Seclors are d versebul rnlch investmenl has gone inlo phafma-ceuircals and machlnery, especial ly in theYanglze Della.

SBRr What is the slatus of Chinese FDt intoSwitzerland?

HS: lt s fcreasing very rapidly Justfve yea|sago therc was ha dly any investmenl lnto Swi!zerland frcm China bul now lhele afe around

_:s1ng cusromer demandsPharnlaccut ical conpanles arc atso

'trding China a, increasingly welcoming.rton both in rerhs of the huge narkeL

: iicrtlal and the tesourccs availablc tbr::.arch, thanks in parrro rhe goveDmcnt, o.ns which have bcen graduat l l ,:.S)nglh. healthcarc sccror siucc 2009. !s \ovart is has bccome one of rhei : hrgh plof i le succcss stor ies in th is: it lowing a deal brokeled inlatc2009. in rwo newreseafch centres inchina_ rn inv.stment of USDt.25b! shared

:en thcn Changhs! and Shanghai

50 Chinese companies opefatingtherc. They fc ude bg namesl ikeSinopec, Bank of China Huawe ,Ch na Tobacco Sunlec, A babaand Lenavo. We anlicipate asieady growth in Chinese FDlover

SBR: SwiLzerland i6 wellknowntor i ts dedical ion to environ.monlal protecl ion and cleanair pol icy. ls lhat extendedlhroughoul Swiss operat ionsin China?

HS: Swiss companes adhere lovery str ic l efvironmental stan-dards, and conl nue lo improve n lhe cteanteclr sector They are dedicaled lo extendingthese best pracl ices lo lheir Ch na opem-

SBR: Whal hav6 been the hight ights torSino-Swiss relat ions ovef the past 12months?

HS: Probab y the mosl s gnifcanl slep foruardwhere lrade is concemed has been the slartof negolialions for a free trade agreementbelween Swilzerand and China. tfsigned, wewoLr d be lhe fllst and only Erropean counlryio conre to such an agrcemenl, and we lookfoftad to lhe advantages il willtring.

D plomatic rclations are also strcng. L€sl yeafwe celebrated 60 years since lhe estab sh-

centfcs. The con!ary cont inucs to kee!aD cye open tor licsh opportunldes. andi! March 2011, Novarr ls bought Dn 85per ccDr sLake iD pr iv. te v)ccinc conpanyZhciiarg Tianl,uan. aining io be.one amafkct leader i ! Chinese vaccines.

Roche, anothcr Swiss lcader inpharmaceut icals, ls repor i ing Chinafcvcnues or ovcl USDlbn arnual l ) .accordlng to repofts fi.om ChimBio. Ihissucc.ss ls encoufaging fu,rhcf investhenrand recruitment drves in China, whercthc comlany has low been acrive for ovcfl5 ycaf. Execut ives a.e vcry posj t ivc

rnenl oi lies between Switz€rland aid China.Swilzerland was one ot the firsl nalions lorecognis€ lhe Peopes Republ lc of China solh s was an mpodanl milestone.

Last year w€ a s0 enloyed ihe Switzerandpav on s popula lyal the2010WoddExpoinShangha, as we as the Cly Joinl Pav on ofZurch, Baseland Geneva exhibi ls Tlre SwssPavilion atlracled 2.8 million visltorc

Thefe have been exlefs ve exchanges be.tween the Swiss and Chinese governmefts.Among others, Jornrerplesideni Dois Leulhardcame lo Ch na, and Vce Premier Li Keqiangpaid € reciprocal visil to Switzerand FourSwss min siers have been to Ch fa noneyealwh ch is sign lcanl slnce our cab nel has oi y

about rhc jndusr. t r 's dcvclopnent andRoche's iu iure in China, and ear l ieri r 20l l Ffanz Humef. rhe corpany'sChrirman, predlcted rhat China wouldbecohe onc of i ts rop three relenueproducers by 2015, a l fo i .cr ion t larrepresetrrs a s igni f icant srcp up frorbeir 2010 analysis: last year China was!redictcd to be.oh e rhcir renih ro! sourceol revcnue b] 2015.

Creallye StleaIsSwltzer land is renowncd for derdi l -

otrentated and preciscly corsrrucred

A SENSE OF SELFSwiss business culture emphasises preclslon, accuracy, anoabove all, quality. Three Swiss companies in Chlna explain howthis strong sense of identity has supported their deve opmentand achievements here.

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CONTACT

s ni rse ect ive internaUonal management)

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-

CO PUBLISHED FEATURE

Chrisioph Gr63bach, Managing Dircctor JANSEN ft ia, s€€s Swiss charact.ris-iics at the heartoltheir3uc6ess,JAI.ISEN

JAArs En' iii$I;ff :::j#jJ,fi 1ifi ":ldeveloping and producng sleel p.ofie systems lor more lhan 50 yea€.Today JANSEN is lhe market leader in Eurc,p€. The hish level oi in!€stmentin employee trainlng and a modem nfEslructurc as re I as lhe pioxlmilyl0 lhe cuslonrerc prcvide the bass for innov.live poducts and solulions alcompelilive plces. ln 2008 JANSEN estab iehed a Compelence Cenler inShanghai 1o povide nroe high-qualily seft ces in Chlna.

CONTACT

JANSE}I Competonco Conlor111 Shen Nan Road Xinzhuang Induslry Pa*,201108 ShanghalI +86 21 3350 8700rnlo@iansenchina,cn

,. rAn"in.ar a..a.q Fr.nrc i swss-basedI5 Lenzllnger il",r,'.,,","r""""' 1,""" .o t"*'"

Access Floors access to undedoor instafialion, sulab e foroff ce areas d ala conlrcs and olh€ r lechnical faci iuos. Lenzlinger p rcd uclsmeet highesl qually slandads and a€ suitable for wrious apploalionsand the compaiy ofie.s oflhe*helves inslallalions as well as customisedso ulions and excellenl coosu lancy.

cot{TAcT:

Lenzllnger Son3 Ltd.,Suite 2905, Yuyuan Road 168/172, Shanghai200040I: +86 21 6249 9527shanghai@lenzlingerch

&

Chiel ReFresent.tiv€ at Lenzlinger Access Flools Shaighai ofiice, HeinzD'Ar6i6, isvery aware of$€nuniqueselling potnis a6 a Swbs business,

llhat are the steigths lha! you associate wiih a Swiss

CG:There s a cedan stereolype thal comes wllh the Swssabe Swss'means hgh quaily cear precise and higlr-lechal lhecharaclerstcsyoudbin9up iyouweredescrbn9an

On lhs occason lhe slereolype s lru€ in watch maknq y€s,bul nolher ndusl esloo fs mporlanltoundemlandihat lyou

Howdo*this marlclperceiveSwi$sirenqihsin business?

HD:The irstlhin9lhalcomes up n myexperence s lhevatueol lhe Swiss approach Swiss expertise and Swss slaidards

fow€ver, the way lhal the markel perceives llris value is sleadilychanging have seen some peop€ equatig S{ ss va ue wilhexpense, plainands mpler nowlheyiesla(ngtobetlerapprecale whyourproducls and setu ces have gred wonh

wanl to undersland Swiss success in busness ovelseas. Forexampe, n conslruclon,Swilzerand produces bus ness valuesand praclices that tocus on the delais and lasl-ng re$ Is jusl kelhec chdd SwsswalchmakerThals becom ng more wdely knowon China, where Europ€ as a whoe has a wel.iustied, much respected repulalon nth s sector even n compar son wlh olher developen economies and the LIS markelwhch s oi ten held up as a beacon nchnawhereUsstyleLEEDcerl lcal ionsand

liow are these slEngths illustEt€d by yourachievenenls and In term ofyour

CGr Weve laken on some great prciects n China ncud n9 the Natona Slad um nBelingiorlhe0 ympcs n 2008, offce buld ngsandiabricaiion p anls lor vaious larg€ca. manuiaclureG government bu d ngs and emba$ es n Being as wel n h slorcabu ldirgs n Shaigha, museums acro$ the country and prest g ous pivale lrous ngThe qua ty results speaklorlhemse v€s

The iacl llral w were asked lo be invo Ed aso sho{s howlhese sl€ngths supportour€pulalion and brand ig lh nk thal s a panicu arly remadable achievement because tshorc thal lhese clienls iu y undersland whal we are ofier ng not everyon€ embGcestheideaoflnvestng n qualily nthisma {el lhoughthalsslanngbchafgewtherper-ence ll takes I me for c ents lo lLily appreciate the longlerm relum on lhe r nveslmenl

The.e s a growing appreciation oi whai our c ienls receive iorthen money assured qualty n products and servceilhere are ots of organ satonswho have had posil ve expe ences after lhey took the decisioolo nvesl, and plenty otothere whodid iol want lo makelhatinvestment have come lo r€grct the cheapoplion.

There!alsomorcdemandlor ofglermsoulonsnthemarkel today andthalshepng lhe prcgresson ol lh s grcwing apprec alion ollei n China l'velound that c ientswerc nolsurelhallheyrea y wanted a longtem so uton -solheywou d pay less lorsometh ng lhal sinp ywould.l asl very long A develop ng economy and the prospectol long lerm gmwth s making betler qualily, asling solulions more uselul as morecompan esand lher proieclsareherclo slay

Howimportanl is your Swiss identityas a companyin China?

HD: l lsvery mpo anl . lhsdedcalonloquai lyandrelabi ly insencesandproduclsThosearethedealslhalkeepuslocussedoncrealiigsomelhingvaiuabeiorthecl€nl wlhoul cutling cornere, wlhoutaiy kind olcofrprcmise

We be eve lhat ls lhese va ues and characlerslcs lhal make us d fieGnl froh theresl. Thal Sw$ dent ty opeis doo6 ior us

Lenzlinger Access Flools

aal INITDV fACr lQSVJItZEHtAilfr"-,

>>> machincrics and technologles, and'Swiss'has bccone a by-wold for quality whencoffumers cons'de. purchaang a watchora pocket-knife But com!anics worklngin this lield do no! want rhe; offetingro be limited by tradjtionprcconceprrons. and convcnt ionalwo.lmanship ls now conbincd wirh astrong emphasis on f.esh dcsign

That is especially significantwhen tbese!roducts are aimed arthc fashion,focursedluxury segtre.t, a mafkci rhat continuesto grow in Chi t ra, and thar McKinseypredicts will account for around 20 percent of global luxury salcs bv 2015.

One Slno-Swiss io int venruie, therecent ly re-opened Swarch Arr PeaceHotel , i l lust fares th is developftent inShangbai. Swisswristwatchandjewellefyconglomerate S{atch croup bas bolsref edlc Chin a p.esence ly collaborating on rhere-opening of ihe historic Pea.e Hotel'sSoutb Buj ld ing otr rhe Bund. The hotelhas been .enovatcd in parrnerslip withtbe hotel group Jin Jiang Intefnarional,and combincs a long ttadition and wellestablishcd reputarlo, wirh luxufy andupdated dcsign. The horel now includesnot only sui tes, bur also arr isr studiosand resrdcnccs. and boutlques fcaturi.gSwatch and i ts higheLend daughtcrb.ands Bfcguer, Blancpain and Onega.

The Swalch Arl Pea6e Hotel provldes jusr one exampte ota Swiss brand,s associarion withqualily and luxury in the China markel,

Glre and Ta[eAlthough FDI f rom Chitra into

S{irzerland has been slow to ger started,lrogress is steady. Thefc are around 50Chinese companles with a Swisspreserce,and many of theh a.e amotrg China'sbcst known business success stories.

ChiDa's growing expert isc in greentcchnologies have provided soneo!portunl ! ies for outbound investors.Surtech Powe., thc world's rhidlargesrsolar company and largcst producer ofcf vstalline silicon !hotovolraic modules,row has a representatrve office in thenorrher city of Schalnrausen.

Cohmunications havc b€come anorherhot export . Chincsc communicar ionssystems have bfanchcd out into variousEuropean markcts, and now Huawei andZTE, two Chincse telecommunicadonscotrpanies at the rop of the global.anklngr, have officcs in Bern.

The Chinese giants are also makingthen presence fclt, with key players suchas Sinopec st i ik ing high'prof i le dcals.Sinopcc lcveiaSed a USD7.2tn takeoverof Addax in 2009, giv ing i t acccss to oj lrescrvcs in Gabon, Nlger ia and l raqlKufdistan; th is was Chlna's lafgesroutbound investmert in fossil fucls.

Switzcf land is proving an af t fact lveopt ion lbr these compan;es thanks toi ts rc lu iadon in f inance and businers,

and r ts convcnienr locar lon, making i :a !orcnt ia l gaieway lnto Europe. Tha:allows slollr such as Alibata whichchose Switzerland as the launch pad fo:operations ln Europe to rcach out toother European narkets.

Glmllenging cnangeAl ihough many cohpanies of fer a

posiivepe6pectlle on Slno-Swissbusine$relatiors now and in the nearfuture, rherare also tealistic, and acknowledge thairhere are practical challenges to bc facedThese challenges are i.onically often theresul t of the conpanies' achievementsand ambltion in Chinar maintaining tharlevel of success, ortuilding o! it rhroughexpansion, can be tough.

In SwissChan and CEIBS's rcccnrsurvey, Busi t ress Scnr iment Survey 2011.the hart concefn cxpresscd by SN$sbusin esses in China is findins and keepinghuman resou.ccs. Of thc companicssurveyed, 43 pcf ccnt staled that labourwas the main challcnge.

For Rcnc Forster of SwlssChamGuangzhou. the problems lie l! laboursu!ply: "Today, everybodyisconplainlngatoui thc difliculry of findlng sullabl.latouf fof rhcir lacrol ies, and yes, l r 'st rue that minimum wages, decided bvlocal govcrnment, are baslcall) increasingI0 20 per cenr every year. Tl is f r ighrbc a ieal probleh for labour intensivefactor ies, br t to be able to keep yourlabour, you have to pay well above thegiven mlnlmum wage," he says.

This is a rrend that is by no neantl imi ted to the manufactuf ing sectorUBS\ Li agrees: 'A challcrgc that mosrfinancial lnstitutions ircluding UBS ha!ebeen facing is rhat rhcrc is onty a limitcdtalent lool in China."

Wislr You Wele HGlc?Cons u 1 General Heinrjch Schellenbe.s i!

optimlstic about the futufe fof Chtua ancSwitzerland's pafmenhi! "lt h bound ncontjnue its rapid devclolmcrt Chira iia drnaftic destiradon for invcsiors, an.Swiss cohpanies afc cagcr ro do businc!.here. The Swiss govcrnmcnt is focussir:on fu. the. decpcning rc lat ions , ar ithe .eceDt staft of ficc irade agrecmc.:

5g

AGENDA

Business DiarvLjpcoming business events in Shanghai

lllonday

s30 lay-Sundat 5 JuneHow lo InvestYour l4oney nCh naTBC

Ie:86216218.5022124

2011 IEEE nlernat ionaConlerence on ComputerScience and Aulomal onEng neer ngShanqha Ya ong nlernaloia Nole

Te 86 21 6766-8692

The 3fd Shangha ln l DigtaSgnage Show 2011

0 oan sed r! Shaigha Tan+eng

-e 36 21 34irg 0?7.q

Austra an Leaders n Clrlna

Te 86 216248 8301i201

Annua Chari ly Bal l2011Le Merden Sheshan Shangha

e : 86 21 6218-5422\24

The Be welher Sefes 20l l TheFuture oJ F nance n Asa PacilicLe Roya Me.d en Shar.haoeai sed by Ecoiomn CorierencesTe E5-2.2585 3894

AQUATECH Ch na's Larg€siWaier TeclrnologyShow

o.gan sed by:Ceman lidustry &

Te 86.21-6875-8536x1 619

The 7lh AnnlalCh na HealthCare Forlm 2011CE BS Shangha PetmDhemlcaAudloilm 699 Fonqleig Road

Ter 86.21.2890-5047

The 1gth lnternal onaConference on Geo niorrnaticsShanghar Mamon FoG C[anqlefg Parloean sed by: Easl Ch na Norma

Te 86 21 2215 6662

2011 Shanghai Bu lding WatetWal€f Treaiment Technology andEquiprnent Expo

Organised by Ch m Prcmoton oi

Te:86 21'5109.7799

l3 JunE-Sundat lg JuneRIS Asan Pu p & Paper Outook

Te:86 21'6075.1430

The lta an Gala Dinner nShangha Prem o Panda d Oro2011 Edt ion

Oeansed by China raly Chamberol

Te 86'21-5407-5181

llonday

ffiShanghai Inlernat onal WineTrade Fair 2011

oigan sed by GodenComnercalTel 86-21-6439-6190

20 June-Sunday 20 JunGCPhl Phama B&D andCollaboration Slralegy Ch na

SNIEC

Te 8621 6075-1489

CEIBS Ch€ngwei ln noval o nCh na Slmrni l2011

organser CE BS Chengtre CaplaTe 86.21-2890 5489

mondat

ffiBio-Forum Shanghai

Te:86 2l '5406.5160

27 Junc-Sunday 3 JultEASTPO lnlemational Machine

SNECInlernal onalExh b tion &

Electronics, lntell gent Motion

Shafqha Inteinalona Convenllon Ce dte rOrgansed by Mesago PC M GmbHTe 86-10 6533 l96016l

Monday

ffiIllonday

E@EU

0 Junc-Sunday l2 JuneThe 4th China Summ t on

Te 8e216271.71r9

Organised by EASTPo Exh bilion Co

Te: 86.2t523$6999

Inl€r Chamber l',,lixerTBCo$an sed by: DCCC/Ge€hamTe 8G13818114020

Bio Forlrn 2011

organ sed by Modeh Bolechnoogy& Phanacellcal nduslry Offe oi

Te:86-21.5406.5r611

REDi Chamber EyenlBIACK: ExniblionBLUE: Conler$@/ Fofum

China lnlef national Exhibition ForAluminium IndustryShangha Evebr ght Convenlion &

oqan sed by: Beting Zhenwe Erhiblon

Tel 861G5823-6597

Ch na Forurn on lnl€rnalionalPharrnaceul ca CooperationNairig J n i9 Coiyen{on CenterOrgatused by CCF Tand lhe Nailnllr !n cpa Pecpes GolemmentTe 86-21 6218 5022115

Kev:

53

Regulatory lJpdateNew legal and tax devel0pments afiecting foreign invested enterprises in Shanghai

Provided by CCH China

LAW & TAX

legal l'lewsShanghai allocates colleclion oldeed tax0n 25 March 2011 , the Shanghai municlpa gov_emment issued Cjrcular on /ssues CorcernlngAtbcatingthe Colleclian of Deed Tax in Shanghai/Ci,crlar), on the decjsion thatlrcm 1 Apr 12011,the col eclion of deed tax w ll be transfeffed irorniinanclaldepa ments to localtax authorities, wilhvarous loca tax aulhoities be ng n charge oTcollecling deed tax

Adnin islntive P rcvisi on s Io tPub I i calion M a *et ReleasedOn 25lllarch2011 lhe Gene€lAdminislElion ofPress and Pub ication (GAPP)andthe fi4inislry ofCommerce ([4OFCOI\,|) released AdninislrativeProvis:rcns fot Publicatian Ma*et (Ptovisions)which iook efiect on the dale oi issuanc-", andconslsls oiive chapt€B and 45 arlicles, nclud_ino lhe estabishment of pubicalion distributionun-ts as wel as lhe rnanagement of publicationd stribution activities and penallies.

The Prcvisions clariiiesthat unils or individualsengaged ln the publication disfibullon businessva nformalon networks such as the intemelsholld obtain Publication Business Llcenses lnaccordance wilh the Provisionsi ioreign investedenteDrises also need to go thfough iorcign in'vestment apprcval prccedures according lo iherelevant prcvisons. In addition, the Prcvisionsa so points out lhat publicalions for internaldlshibution shou d not bedisseminated publcly,displayed, exh bited or sold Publications foriniernal distribuUor can only bedislribuled wthinthe system, industryorunitforf€e, and mustnotbe issued by any oqanisalion or individual

Shanghai: Promoling lhedevel0pment 0l th€ digital publishingindustryRecenuy, the Shanghai municipal govemment

54

rcleased Severa/ opinions on Promoting theDevelopnent of the Digital Publishing lnclustryin Shanghai Ppini'ns) lo encoulage vanous[Des olsoc a]capitalinvestmenl in digila pub-idhing and engagementln ihedigita publishingbusiness The 0plnions enc0ufages lea0lngdomeslic dig tal publishing enterp ses lo besiationed in Shanghai. Actvely supporl n reg'stration stafting business opemtons and otheraspecls will be provided to leading domeslcdigilal publishing enietptses thal lransfer lhe rheadquarters to Shanghai.The Oplnions slipulates that it suppotls digitalpubishing enteprises to make known natDnalhiqh-tech enterprises and advanced lechnologyse.-rvice enterpises, providlng guidance and he pfor the idenllication of key digita publishingenterprises listed in th€ €commended lsl. TheEnierprise Income Tax for eniepnses lhal havebeen identilied as naUonal hiqh-tech enterpriseswi lbe educed lo 15 Per cenl.

M0fC0M releases Se/Yic€Regulations on thitd-PatuE -C o n n erce fn din g P latlom sOn 12 Apil 2011, the Ministfy oi Commerce(MOFCo[4) reeased Service Regu/ations onf hhd-party E-Canmerce Trcding Plalfoms(Reg!/ationsJ, consisting of nine chaplers and32 adlces, wh ch danfyihe responsibilities andprctectthe inte€sts oiall parliesdurngtansac_lions in live aspects, namely establshment ofp atiorms and basic code of conducl, websileoperator managementguide for platfom opera_tols, reasonable prolection forconsumers, andcoodinating the supervision of felated serviceproviders and oth€rs.The Reg! atons rcquesls that if platform op-eralors are engaged in a website opemtionsbus ness on their pla$orm al lhe same llmetheyshould sepaGte the r platform sefiices andwebste operations business and publicise thison thelr th d-tady trading platfoms.

il'c+ta WoLt€rs Ktuwer business

Tax & Finance NewsShanghai local laxation Bureaureleases /4rtouncemetl o, ,ssresC once m i ng Co I I e clion M an ag ene ntot Deed faxOn 30l\,larch 2011, the Shangha LocalTaxa_llon Bureau rc eased ,4,lnourcemenl on /ssuesConceming Lew Managenenl af Deed Ta, lAn'nouncemen, which tool effecl on 1 Aprl 2011and includesthe coLlecuon iurisd clion for deedtax, and deadlines for tax authorties In chargeto handle taxpaye|s'deed taxes,The Announcement clarfies lhat if the hous ngand land transacllon prices declared by taxpay_els are sign icantly lower ihan markel plceswilhoulanyluslifab e eason the la{ authoriliesn charge shou d appraise tax prices accorongtothepovisions In addit on, lhe Announcementalso stipulates ihai for individuals lnheritrng n0n-res dentialhousing and unils inheritng housrngand land, the tax authorities in charge shouldhandle the re evanl iax issues on the spol Incases where laxpayers have submitted theilclaim matera s completely.

SAI Releases Announcenent onSevenl lssues Conceming IheManagenenl ol Enlerytise lnconefax lot llon-nesidenl Entetq sesRecenilv, the State Administlalon of Taxallon{SAT) ieleased Announcenent on Severallssues Conceming the Management af Enter'pise lncone fax for Non-Resr'dert E terpr"iseslArnorncemerl) which took effect on 1 Aprili011. TheAnnouncement includes six aspectsoiprcblem solving such as lhe tax trcatment0lquarantee fees, tax treatment oi linance leases;nd real eslale renlal income, taxation of anduse rights transfel income and so on.

According to the Annouicement, non-resdententeprlses that have obtained guafantee leeswith nlhe Ch neseterritory should calculate and

srbxcF{ nLisr,rrss REn'!l\!

pay enteprse ncome tax (E T)on the inlereslIncome based on the lax rate n lhe Enlerprisencome Tax Law fuloreover llreAnnouncement

also stipLlaies that resdenl enlefprrses wlthinthe Chifese territory shou d distribute equ lynveslment ga ns such as d vidends and bonuses t0 non-resident enlerprises ihat have noiestab shed lnstilutions of locatons n Chinaandwthhodand rcmtE T on the dale thai thevdecide on prcft distr bul on.

CIRC revises lertatiye Proyisiorson Managenent ol lnswance AssetManagenent ConpaniesRecently, the China lnsutance RegulaloryCom-m ssion (C RC) re eased Cicrlaf on /ssresRegarding Revising "Tenlative Provisians onManagenent af lnsurance Asset ManagenentConpanies (Circulat). A.catd n0 lo lhe C rcular.lhe rnrn mum reg stered caplal of nsuranceassel fnanagemeftcompanies has been ra sedfrom Rmb3om lo Rnrb100m.

LAW & IAX

The Circular eases the tme l imt for in i latngthe eslablshmentofcompan es from more thane ghl years to nrofe than lve years oi engagingrn the nsurance bus ness [4eanwhie lheC rcu ar ncreases the fund ng requiremeflsof lhe niUalofs and adds rcslrctons on thesolvency whch t revises to read solvencymusl not be less lhan l50percenl lota asselsnol less than Rnrbll)bn, and tola assets ofnsufance group (hod ngs) company nol essthan Rmblsbn $n

OFFSIIORE IAX

The View OffshoreNew overseas tax develoPmentsProvided by Sov€reign Trust (Hong Kong)

US tax authorities go alter HSBC IndiaThe LJS Departrnent of Jusijce filed a petition

w[h a feder;lcourt in San Francisco, on TAprll

2011, io allow the lniernal Revenue servlce

llRS) to sefte what Ls known as a _Jonn uoe

;ummons on HsBc Bank USA

The IRS uses a John Doe summons to oblain

rnformauon abouipossible lat flaud by peopE

whose ideniltiesare unknown lfapproved the

summons would direct HSBC USAIo produce

records identifying US tarpaverswilh accounls

at HSBC India, nany ol who ale belreveo 0y

the governmentto have hidden iheir accoun$

from the lRs.

According to docum€nis f i led with the

oovernmenls petilion,In January a grandlury In

i,iew Jersev indLcled Vaibhav Dahake charcrnghrm wiih c;nsorlacv lo delraud the lJ S by using

udeclaredaccounlsinlheBriushVirginls landsand at HSBC India to evade income laxes

Accotdinq lo those documents, emdoyees 0I

HSBC Ho]drngs and its afiiliatps operating in the

US assured Dahake lhalaccounls marntalneorn lndra would not be repo ed t0 the lt(s

Ltd

IJS taxpayers dircctly io the lRS Failurc to

dtsclose lnformallon will Iesultln a requlremenlon non-llS fnancialintermediades to withho!d

a 30% tax on ljs_source income'

ln lhe letter, Seneta warns the US authoril€s

that FATCAS tequiremenls are lo0 wl0e-

ranqinq and wlll have a severe lmpact on-

rhe EIJ {inanclal lndusiry in teTms of costs 0l

compliance and penaliies in cases-01-n0n-comolrance . He also poinled ofi nal rAluAs

Drovislons rnay conllict with E U member $ales,

inlernal data protect ion laws, which l0rDl0

banks to pass sensiiive pelsonal data aboul

individuals io cedain non_EU countlLes

France announces delails ol newweallh lax reglmeBudqel N4rnisler Fran(ols Baroin announced'

on i2 Apri l 2011 lhai the government had

decided not to aboLlsh France s annua! werlm

tax ' l imp6t de solLdari t6 sur la lonune (rsr)

- outnghi bul to ellmlnaie the first ilanche 0l

the tax and to lowerils Iates

The sbrlino lhresholdforihe lax wlllbe raisedfmm EUF800 000 lo EUR1 3rn For lamil]€s

wilh asseis above that level' taxwillbe imposed

at 0.25 oer cenl a year' WheTe assels exceeo

EIJR3 meuro, the ruiewi l l r ise lo 0 5 percent

Exrstinq rates currcnlly vary between 0 55 and

1.8 per cent.

parliament, in Decernber 2006

'The launch of lhis consulialon on the drafl

leoislation is an impollsnt step towalds the

rn;oduction oifoundations inlo Guemsey law'

said. Petel Niven, chiefexecutlve ofGu€rnseyFrnance - Lhe promotional agency l0r tne

lsland's Ilnance industry'.The inhoduction ol ioundations will provjde

another tool lor pracl i l ioners to meel tne

needs of clients ln parllcular' we erpecl $e

foundat ionsiructurewl l lbeatt laci ivet0c! len$based rn civLl law junsdictlons In Europo and.

also fudher afEld in the emerglng mafte$ 0r

China, Russia and Latin Ame ca wnere me

trusl concept s less familiar lhan in common

law countries such as the US, Canada and lhe

lJK," he said.

0ECD assesses seven morc Gounlfleslol tax transParencyThe OECDs Global Forunr on Transperency

and Erchange of Tax Information publlsheo'

on 14 April 2011, seven futther country peer

Aruba, The Bahamas, Eelgium, Estonia €nd

Ghana were undergoinq 'Phase 1 tesls Io

evaluale their legal and requlatory preparedness

for tar Informal ion exchange Canada ano

Germanv comblned a Phase I chech wln an

assessmenl of therr implemenlation In pracnce

- ihe "Phase 2 tesf"

The OECD GlobalForum has so far publ ished

roporls on 25 ot ils members Anolh€r J5

reviews wlllbe completed by November lor ne

G20 Summlt atCannes m

Althouqh HSBC India closed those offices

Ln Jun;2010, the government al leges that

NRI clients mav sllll access lheir accounts

at HSBC India from the US According to tne

oetition documents, NRlclients have lold lHs

lnvestlqators lhal NRI represenlatlves In me

US as;ured lhe clienls lhat lhey could invesl

In accounls aL HSBC Ind€ withoul payrng u5

income lax on interestearned onthe accoun6

and thal HSBC would nol report the Income

-Aarned on the HSBC India accolnis to lhe

IRS.

EuroDean Commission complains totls over FATCA reqritementsEuroDean tax commissioner' Algirdas Semeta'criticised ihe disclosure provisions ifilposed 0n

Eurcoean banks by ihe US Foleign Accounl

Tax iompliance Act (FACTA) in a l€tter sentt0

IJS Treasury Secretary Tirnothy Geilhnet and

lnt€rnalRevenue ServiceCommlssLonelDougShulman on 6 APi l 2011.

Under FATCA, enacied in Juno 2010, ioreign

financial Instit!lons with lJS cuslomers an0

foreiqn nonJlnanclal entiLies wiih substantlalti S o;ners musl dEclose infonation legardlng

-'{:i

These changeswillcut EUR900m ir0m leven!e

To make up the sho lall, lhe govelnmenl lsproposrng lo increase taxes on inielMnces

oreaLerihan ElJR4m and impose an e levy

;n tax exiles modelled on Germany'

France's giit tar regime is also to be amenoeoGifts made by parenls wllhin ten years 0I

their death will in iuturc be liable to tax; me

current e*empi perlod is si{ years llloJeover'rnherltance tax rales for esletes ab0ve EUK4m

willbe increased bY 5 Percent.

Guernscy consulls on newFourdations LawThe qovernment ol Guernsey launched

on l iAplr l 2011, a consul lai lon on i lsdral l

Foundalions (Guemsey)Law A revlew 0l IIUsI

Law in Glemsey,which incllded ploposalslor

the introdtlction ol foundallons, was approveo

by lhe States of Guefnsey, the is land s

sri,\Niil{{r tsus!\F-ss rFf, {E\l

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