The Hanoitimes - JD.com, Chinese second largest online retailer behind Alibaba, has made an investment in Vietnam’s leading B2C e-commerce firm Tiki.vn, expanding its Southeast Asia business amid growing competition. JD.com didn't disclose the size of the investment but said that it would become one of the largest shareholders in Tiki after this deal, according to its statement released on January 16. As part of the deal, JD will partner with Tiki in a range of areas, including merchandising, cross-border trade, logistics and fulfillment, technology, financing, and operational capabilities, it said. With the investment in Tiki, JD.com adds Vietnam to its growing Southeast Asia presence “We are very excited to continue our Southeast Asia expansion with Tiki, a company that has a deep understanding of Vietnam and a reputation for outstanding customer service,” said Winston Cheng, president of JD.com’s international business, said in the … [Read more...] about China’s second largest online retailer JD.com invests in Tiki
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Inside the growing backlash against China
China’s rise over the last generation has been impressive, with the country moving from the periphery to the center of the global system, and climbing from impoverished backwater to a position of substantial wealth and power. But the strategic environment in which China’s “lay low” approach to international affairs has helped to make it the world’s second-largest economy is changing – and a broader backlash against China is beginning. Under President Xi Jinping, Beijing has been pushing an increasingly aggressive and high-profile foreign policy, attracting the sort of attention that Xi’s predecessors had carefully avoided. Now, countries that only a few years ago welcomed Chinese investment and engagement are beginning to mobilize against Chinese influence. The global conditions that favored China’s rise began at the end of the Cold War. With the fall of the Soviet Union, the West in general and the United States in particular were eager … [Read more...] about Inside the growing backlash against China
Commentary: Inside the growing backlash against China
China’s rise over the last generation has been impressive, with the country moving from the periphery to the center of the global system, and climbing from impoverished backwater to a position of substantial wealth and power. But the strategic environment in which China’s “lay low” approach to international affairs has helped to make it the world’s second-largest economy is changing – and a broader backlash against China is beginning. Under President Xi Jinping, Beijing has been pushing an increasingly aggressive and high-profile foreign policy, attracting the sort of attention that Xi’s predecessors had carefully avoided. Now, countries that only a few years ago welcomed Chinese investment and engagement are beginning to mobilize against Chinese influence. The global conditions that favored China’s rise began at the end of the Cold War. With the fall of the Soviet Union, the West in general and the United States in particular were eager … [Read more...] about Commentary: Inside the growing backlash against China
Macron urges European unity to face rising China
French President Emmanuel Macron pleaded on Wednesday for European unity in the face of China's growing economic power as he wrapped up a visit to Beijing with several business deals. Macron, who has become the leading voice of the European Union, endorsed President Xi Jinping's massive $1 trillion programme to revive ancient Silk Road trading routes during his three-day trip. But the French leader also warned Europeans to stay on guard to protect strategic sectors as China makes inroads through the project, known in Beijing as One Belt One Road, which seeks to build rail, maritime and road links from Asia to Europe and Africa. "We must come up with a common position at the European level" regarding the Silk Road, Macron told a press conference. "We can't disregard this initiative. It would mean dealing with its consequences and would be a profound strategic mistake," he said, while noting that Europeans are divided about the Silk Road revival. "Some countries are much more open to … [Read more...] about Macron urges European unity to face rising China
Chinese investors buy a series of Vietnamese companies
VietNamNet Bridge - A report from the Foreign Investment Agency (FIA) pointed out that China is among the four biggest foreign direct investors, and Chinese investors have contributed $280 million worth of capital to 593 projects in Vietnam. Commenting about the figures, Le Xuan Truong from the Finance Academy said Chinese tend to make investments with modest capital or buy into existing businesses. As investors, Chinese have to consider the places and modes of investment and the business fields that can bring optimal profits. There is no requirement on legal capital in certain business fields; that is, the investors can contribute capital based on their capability. China’s proximity allows small businesses to make outward investment at low costs. Chinese mostly pour capital into fields they have advantages in, such as traditional medicine clinics, healthcare and beauty services. Many Chinese investors have been found contributing capital to swindle Vietnamese partners and … [Read more...] about Chinese investors buy a series of Vietnamese companies
China’s contemporary art market is becoming more rational
BEIJING, March 9 -- Like just about everything else, art has taken a tumble in the global financial crisis, and the art scene in Shanghai is, well, waiting for better times.People aren't spending like they used to. Small galleries are shuttered, and the regular art events are smaller. Some artists choose not to sell until the market improves, some are getting regular jobs and hungry artists are even hungrier. Yes, prices are going down (though not for the big names), and it could be a good time to invest. As for the once-sizzling contemporary Chinese art scene, here's the view from Sotheby's auction house: "Unlike the former overheating phenomena, China's contemporary art market is undergoing an adjustment phase and becoming more rational," says Wang Jie, chief representative in Shanghai for Sotheby's. "The economic downturn does have some effect on the market. However, an artwork's price mainly depends on its own quality." Here on the ground, Wu Ruizhong has been dejected since he … [Read more...] about China’s contemporary art market is becoming more rational
China offers more public cultural service
March 4,Commencing at the beginning of this month, all national museums and provincial comprehensive museums in China have ceased to charge admission. This is just the beginning of a program to open Chinese art to a wider audience. Central and local governments continue to invest more money into public cultural services and even more open policies are anticipated. Duan is a regular museum-goer in Beijing. She came to the Military Museum for a regular Sunday morning visit. Visitor, said, "I went up to buy a ticket. To my surprise, they told me the museum is free now. It's great! " More than 300 museums, libraries and galleries across China have opened their doors to the public at no charge. In northeastern Heilongjiang Province, four local museums have adopted the new policy. After just a week the museums had drawn about 33 thousand visitors. Free entry is attracting a lot of visitors. But the larger crowds have also caused air quality to diminish. Some museums lack climate … [Read more...] about China offers more public cultural service
Hoping to extend maritime reach, China lavishes aid on Pakistan town
China is lavishing vast amounts of aid on a small Pakistani fishing town to win over locals and build a commercial deep-water port that the United States and India suspect may also one day serve the Chinese navy.Beijing has built a school, sent doctors and pledged about $500 million in grants for an airport, hospital, college and badly-needed water infrastructure for Gwadar, a dusty town whose harbour juts out into the Arabian Sea, overlooking some of the world's busiest oil and gas shipping lanes.The grants include $230 million for a new international airport, one of the largest such disbursements China has made abroad, according to researchers and Pakistani officials.The handouts for the Gwadar project is a departure from Beijing's usual approach in other countries. China has traditionally derided Western-style aid in favour of infrastructure projects for which it normally provides loans through Chinese state-owned commercial and development banks."The concentration of grants is … [Read more...] about Hoping to extend maritime reach, China lavishes aid on Pakistan town
Are China’s cars finally going to make inroads in Western markets?
After a decade of development, often through buying or benchmarking foreign technology and know-how, Chinese automakers are looking with greater ambition at selling their cars in major Western markets. Improvements in car design, technology and marketing at firms including Geely (0175.HK), GAC Motor and Great Wall Motor (601633.SS) have brought them a bigger share in their home market, the world’s largest, and give them a better chance of survival in competitive markets in Europe and the United States. Once distant dreams of staking a claim in Western strongholds may now be edging nearer. “We have in the Western world an outrageous arrogance. We think we’re ahead. It’s going to change,” says Alain Visser, Senior Vice President of Lynk & Co, a new brand set up by Geely. “China is passing you at a speed that in our arrogance we don’t even see,” Visser told Reuters earlier this month. Hangzhou-based Geely, which owns Volvo Cars and Lotus … [Read more...] about Are China’s cars finally going to make inroads in Western markets?
China to become second largest importer of Vietnam shrimp
Exports to China obtained an impressive growth of 60.5% with an estimated value of US$629.26 million, accounting for 18.1% of Vietnam’s total shrimp export value. Meanwhile China’s shrimp imports are on a strong upward trend to meet rising consumer demands for year-end festivals, especially the Lunar New Year. The trend also pushes shrimp raw material prices up in some neighbouring countries, including Vietnam. With the move, China is likely to surpass Japan to become the second largest consumer of Vietnamese shrimp in the first quarter of next year.However, Vietnam just ranks eighth among biggest suppliers of shrimp products to China, trailed by Ecuador, Canada, India, Greenland, Thailand, Argentina and Indonesia.Experts said China’s shrimp imports have kept rising while its exports have declined over the past 10 years. The country is currently among top ten shrimp consumers in the world. It has become an important destination for shrimp exporters, including … [Read more...] about China to become second largest importer of Vietnam shrimp