Exhibitions bring business
EXHIBITION business should be nurtured to become a new driving force in building up Shanghai's economy, experts said.
Panel of financiers meet hi-tech masters
THE first round of the O'Melveny & Myers High-Tech Entrepreneurs Programme was successfully conducted in Shanghai yesterday.
Industrial output jumps last year
THE city's industrial output last year saw a 9.6 per cent increase, or 175.87 billion ($21.24 billion) more in value, compared with the previous year.
GM: Private car sales promising
SALES of family cars in Shanghai will rise in the next few years as incomes rise, said Philip Murtaugh, general manager of GM China Inc's Shanghai office.
Pudong outlook
PUDONG is to focus on the development of the 28-square-kilometre area along the Huangpu River, which will become part of a central city in 20 years, and the area along East China Sea starting from this year, Hu Wei, deputy director of the new area's administration, recently told visiting deputies of National People's Congress. Service industries, including banking and insurance services, will be further backed up and the riverside port area will be revamped to allow later beautification of the central city. The government will also speed up the construction of the Waigaoqiao Port and Waigaoqiao Shipyard to help establish Shanghai as the inter-national centre for transportation.
IT forum to stress building a digital city
STRONG emphasis on the city's cyber-port project will be maintained in
Tianjin, focus of Motorola's plans
Tianjin-based Motorola (China) Electronic Co said last week it plans to increase its investment in China by over 2 billion yuan ($241 million) within the next five years.
All shipping services make gains
SERVICES bound for the United States are still brisk due to its robust economy.
Apartments ease yuppies' housing
SHANGHAI Balin Community Co Ltd, the first property service company in Shanghai to provide clients with a chain of furnished apartments throughout Shanghai, plans to launch "waixiao" apartments targeting overseas and local tenants. "We decided to enlarge the business after the quite successful operation of the apartments for local young urban professional staff," said Edward Li, general manager of the company. Chinese people sometimes quite envy those living-on-wheels Americans. But for most of Chinese, especially people living in Shanghai where housing problems have obsessed generations of them, to move from one place to another quite freely, according to interests or jobs' requirements, is hard to imagine. However, with the rise of single, young career-oriented Shanghainese, together with an increasing number of incoming career- or fortune-seeking people of non-Shanghai origin, these white-collar staff have strongly longed for the same style of living. They treasure services facilitating their moving, few troubles with furniture, reasonable prices and a friendly atmosphere in which to socialize. Edward Li's experience of living abroad inspired him to refurbish a stock of unoccupied properties in Shanghai to accommodate the young urban professionals. The apartments "Tenants can just move in with some essential private articles. That's enough, because the apartments have been equipped with any necessary furniture - the wooden floor, north-European style beds, wardrobes, sofa, chairs, tables, lamps, TV, telephone, toilet and bathing facilities," said Li. In order to suit the young urban professionals' desire to protect their privacy and make friends at the same time, the apartments consist of two bedrooms and one sitting room. Apartments of one bedroom and one sitting room or of three bedrooms and one sitting room are also available, said Li. "Many tenants share the fees among two or three of them, some tenants are of different genders." "The average rent is only 300 yuan ($36) higher than the apartments without furniture of the same size in similar places," said Li. Many white-collar staff now change jobs quite frequently. Renting or leasing Both the landlords and the tenants should sign contracts for leasing or renting. An insurance contract is also included so as to ensure the tenants are relieved of having to pay for unexpected thefts or damages to the furniture or other facilities in the apartments, said Li. The Balin company also helps non-Shanghai residents who want to be tenants to obtain certificates for temporary residence. After the signing of the contract, the tenants will hold a Balin credit for payment of any fees charged card and an identity code card. "Our company is trying to organize a group of service staff to provide tenants extra services on an hourly basis, such as housekeeping, cooking and washing," said Li. Since last June when the company officially launched its programme, over 1,000 apartments have been rented out. "We plan to have over 50,000 suites furnished and rented out by the end of this year," said Li.
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