In the past three decades, China has achieved unprecedented economic growth. Foreign companies, known in China as Wholly Foreign Owned Enterprises (WFOEs), have entered the country to capitalize on the economic growth opportunities. Many times however, foreign companies arrive in China only to struggle to retain its top China talent. They quickly realize that they cannot apply their Western retention programs in China, because the business environment in China is very unique. On the other hand, many state-owned enterprises (SOEs), which are private companies funded by the Chinese government, have been successful in attracting and retaining highly qualified Chinese workers by offering unique benefits tailored for the local market
TriVista’s team conducted an in-depth study, encompassing primary and secondary research, to shed light on what Chinese national employees value when looking for long-term employment. Continue reading “Strategies for WFOEs to Retain Valuable Chinese Talent” »
This fall, one of our partners, FactoryAudits.com exhibited at one of the largest trade shows in Asia, the Global Sources – China Sourcing Fair in Hong Kong.
FactoryAudits.com specializes in product inspections and Factory Audits to help customers ensure product quality, secure imports and save time and money.
FactoryAudits.com was proud to be one of nearly 7,500 exhibitors who spent the month of October networking with more than 62,000 buyers, a record amount of attendees for the Hong Kong show.
The fourteen shows were held concurrently at the Asia World-Expo in Hong Kong and attracted some of the world’s top companies – such as Best Buy, Samsung, Levi’s, Office Depot, Toys “R” Us and more.
If you are interested in learning more about their product inspection & factory auditing services please click here.
The federal municipality of Tianjin, China is located an hour and a half outside of Beijing, on the coast of the Bohai Bay. Its prime location has attracted many of the world’s top enterprises including Motorola, Toyota, Samsung, Nestle, and LG.
As the fourth largest port in mainland China, Tianjin is a regional hub for shipping and logistics industries, both of which are supported by its close proximity to the national capital, Beijing. Leading industries in Tianjin include mobile phone, aerospace, alternative energy, and automotive production.
In addition to Tianjin, Understand-China.com includes many detailed investment guides for the top manufacturing regions. Ready to Explore? Start Now! It’s Free!
1ChinaBlog is pleased to announce the new and improved Understand-China.com. Through extensive research, the website has been refreshed and updated to provides the most comprehensive and up-to-date information available for businesses and investors looking to do business in the China. Understand-China’s vast network now contains over 250 pages of information with additional features and has taken more than 300 hours and 6 weeks to update.
Understand-China continues to be the only one-stop-shop website providing concise and relevant information for companies looking to do business in China, invest in the Chinese marketplace, set up greenfield operations in one of China’s industrial regions, or understand the Chinese manufacturing industry. Updates include new data for the 24 top regions including statistics for each of their Foreign Direct Investments (FDI), Gross Domestic Products (GDP), Logistical Data, Real Estate information, Industrial Expenses, Labor Costs and various other categories of data. For several excellent examples of updated data, please view the provincial profiles of Beijing, Shanghai, Shenzhen, Tianjin, Hong Kong. Understand-China also includes twenty other provinces, special economic zones and Chinese special administrative regions.
Please let us know what you think of the update!
On Thursday, June 30th, China announced the opening of the world’s longest cross-sea Bridge. The Jiaozhou Bay Bridge connects China’s Eastern port city of Qingdao with the island of Huangdao and is a mere 26 miles long. Bridges of this size don’t come cheap… even in China. The 110 foot-wide bridge required more than 5,000 support pillars and cost upwards of USD $1.5 billion.
The Jiaozhou Bay Bridge took more than four years to build but is anticipated to cut travel time between the two cities in half. Approximately 30,000 cars will drive over this bridge each day.
Maybe they will even hold marathons across it one day… talk about a nice view.
Photo Courtesy of Associated Press
The United States is not the only country with water issues. A harsh drought in Central China along the Yangtze River region has left maybe people and fields thirsty. The Hubei Province currently has almost 1,400 reservoirs that are temporarily unusable from the low supply of water available. Certain areas along the river are coming close to record lows. A five month drought in China doesn’t only affect the land. Droughts have a negative domino effect not only on the people, but on trade routes, livestock and crops. In today’s global marketplace, it is likely that world prices for commodities could rise as shipping becomes more time consuming and agriculture production is hindered.
Conditions have gotten so bad, that the Three Gorges Dam was called up to make its second emergency discharge in order to ease the drought. The Three Gorges Dam is the single largest hydroelectric project in the world and released 400 million cubic meters of water during early May. This large discharge is meant to help ease shipments traveling along the Yangstze and ease concerns for the people of the nearby cities.
Reports have shown that last week, more than 300,000 people and 90,000 livestock in Hubei were short on drinking water. Farmland was not spared either, with more than 2 million acres that have been affected by this season’s droughts. The drought has also affected nearly the nearby province of Hunan has at least 300,000.
Hopefully some much need rain will show up in the upcoming weeks.
As of Saturday, the drought had left 315,000 people and 97,300 livestock in the Hubei short of drinking water, and more than two million acres of farmland had been affected, Xinhua reported. In neighboring Henan Province, the drought had affected at least 320,000 people.
The 2011 Spring Canton fair came to a close yesterday, May 5th. This year’s import and export fair is considered a monumental session in the event’s 50 year history. Held each year, in Spring and Autumn, businesspeople from all over the world pour their way through the 55 million square meter facility over the course of the 15 day event in Guangzhou. The deals transacted from this session totaled more than 36 billion U.S. dollars, up 5.8% from last year’s Spring session. The fair attracted a record number of foreign traders as well; more than 207,000 foreign traders from more than 150 countries passed through the fair this year.
Although there were fears of this year’s numbers being down due to the economic conditions, business transactions this Spring were very much so on the rise.
The amount of exports with some of the big players rose quite a bit this year. Buyers from the United States entered into 12.4 percent more deals than last spring. European buyers also increased their transactions by 14 percent. Even more impressive than that are the number of deals enacted with the emerging markets of Brazil and Russia, that rose 30 percent this year.
Other countries however saw a decrease in transactions for various reasons. Reports have indicated that trade dropped by 19 percent with Japan due to the various reasons associated with the recent disasters.
Overall, the largest trade fair in China was another giant success. If anyone has any stories or pictures from this Spring’s show, we would love to see them!
China was the world largest consumer and importer of Bordeaux wine in 2010. That is astonishing to me, considering that French-style red wine has only recently began to draw a significant following amongst Chinese consumers.
According to the Bordeaux Wine Council, China imported 33.5 million bottles of Bordeaux wine last year. That is $475 million USD worth of French wine tingling the palates of Chinese wine lovers. China in fact, has become much more of a wine-oh country in the last six or seven years. They now import over $1 Billion USD worth of wine, which is more than four times the amount imported in 2004.
If you have your own label, (I wish I did) I would highly consider formulating a market entry strategy to break into what could quite possibly be the world’s largest wine market very soon.
China is also in the midst of a large wine expo, called the “2011 Wine China Exhibition” located in both Beijing and Shanghai. The events began on April 17th and will continue through April 20th, ending in Shanghai. Wine from all over the world will be celebrated, tasted and enjoyed. If you are interested in learning more, here is the exhibition’s site. I definitely plan on attending one of these years.
The word is out. Chinese consumers have gotten wind of the wonderfully tasting and healthy nut, the pecan. After several segments on Beijing TV and other local TV stations on the health advantages of pecans, Chinese consumers have began to expand their nut repertoire. And where can they find these fine nuts? America, that’s where. Approximately two-thirds of the world’s pecans are produced in the United States.
Demand for American pecans in China has been so strong, that prices have nearly doubled in the last three years. According to the USDA, the average price of shelled pecans in 2007 was around $1.00/pound and last year, in 2010, prices jumped to nearly $2.25/ pound.
This increase in demand has led to a large shift in American pecan exports. As you can see in the chart, in 2005, total exports were only 30% (China being only 1% of that.) And only four years later, China grew to nearly 30% of our exports, bumping up total exports to more than 50% of domestic production.
And demand is showing no sign of waning. Total production numbers, however, have not yet began to be affected due to the nature of the pecan tree. It takes ten years for a pecan tree to begin producing any sizable amount. And even then, the trees have alternating “on” and “off” years. So as more farmers start to up their acreage of pecan trees, we will have to be patient and shell out for our favorite holiday pies and fruit cakes.
Have you finished planning your trip to this year’s Spring Canton Fair yet? The world’s largest international trade show is almost underway. As always, the Import and Export Fair will be held in Guangzhou, the center of China’s trade region China Import and Export Complex. The fair features over 50,000 exhibits spans over two weeks.
Phase I is set to begin this Friday and lasts through Tuesday, April 19th. Products to on exhibition during Phase I are the following:
Phases II and III will be on the following schedules:
Phase 2: April 23-27, 2011 | 9:30-18:00
* Consumer Goods
* Home Decorations
Phase 3: May 1-5, 2011 | 9:30-18:00
* Textiles & Garments
* Office Supplies, Cases & Bags, and Recreation Products
* Medicines, Medical Devices and Health Products
* Food & Native Produce
* International Pavilion
Additionally, the China International Furniture Fair (CIFF) will be held in conjunction with Phase I and Phase II. Everything from modern home furniture to office and laboratory furniture will be available. Home Furniture will be on display from March 18 to the 21st and office furniture will be available from March 27 to March 30th.
If you haven’t signed up yet, don’t worry there is still time. You need to apply for an “invitation” through the Fair’s website here. Admission is free, but registration typically takes about a week to get your confirmation. Once you receive confirmation, print out the information and take it with you along with a photo ID and a passport photo (or you may take one there).
Spring Canton Fair Location: No. 380, Yuejiang Zhong Road, Guangzhou, China.
Other Canton Fair Posts:
Please do not hesitate to post any questions, comments or advice for future fair adventurers below.