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.
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.
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.
All shipping services make gains
SERVICES bound for the United States are still brisk due to its robust economy.
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. Hardwoods from US CREATING a warm and modern look, US hardwoods are increasingly recognized as the ideal material for interior decoration, according to architects, interior designers and developers at an interior design seminar held on Thursday in Shanghai. Peter Bentel, an architect from the US who attended the seminar, said US hardwoods offer rich diversity in species and specifications, which allows designers ample room for maximizing creativity and en-hancing interior decoration in both households and offices. Best HR consultancy HEWITT Associates, a leading global management consulting firm based in the US, has recently been awarded "China HR Consultancy of the Year?in 1999 for its commitment to understanding the China marketplace and its clients?needs. The award, which is granted annually by China Staff, one of the best known human resources magazines in China, was determined by market research conducted by the magazine's staff with input from leading human resource experts in Hong Kong SAR and the Chinese mainland. HSBC in Guangzhou FOLLOWING the announcement of the removal of its China head-quarters to Shanghai last month, the Hongkong and Shanghai Banking Corporation Limited (HSBC) last week officially opened its ninth branch in China ?in Guangzhou. Eddie Wang, assistant general manager and head of the bank's China business, said "the opening of our Guangzhou Branch represents the latest expansion of HSBC's network in China and marks a significant step in our efforts to further develop our China business.? Trade increasing FOREIGN trade passing through Shanghai Customs last year is reported to have reached $76.2 billion, up 19.6 per cent over the previous year. Of the figure, imports accounted for $31.9 billion and exports took up $44.3 billion. "The increase in the trade figure should partly be credited to a crackdown on smuggling,?said a Customs official. Because of the expansion of foreign trade, Shanghai Customs collected taxes of 34.5 billion yuan ($4.2 billion) last year, accounting for 21.7 per cent of the nation's total. Storage Tek launch US-BASED StorageTeK has launched a new L700 tape library based on the new Aegis architecture that enables both traditional organizations and e-businesses to manage information from multiple environments. The product is the first in a series of new tape libraries based on aegis architecture the company plans to bring to the market this year, according to Brian Knott, regional director of Storage Tek North Asia. Ericsson phone ERICSSON Co has recently announced the introduction of its latest dual-way mobile phone targeting the top end of the Chinese market ?the T28sc 900/1800 mobile. The product will be available in major China cities starting from January 2000, and will be priced at over 5,300 yuan ($640). Exports up ENTERPRISES in the area developed by Shanghai Waigaoqiao Free Trade Zone Xin Development Co Ltd achieved $1.1 billion in export value from its 1.05 square kilometres in 1999, realizing the highest export value per square metre in China's various special economic zones. Among various information enterprises which have been forming an information centre in this area, Intel's Waigaoqiao company became the one achieving the highest export value in Shanghai. Cyberspace gifts SHENZHEN-based CyberLabs has recently launched the first online gift website ?www.giftcenter.com.cn in China. The website will position itself as China's first mover and market leader in sending gifts online, said Roger Wu, president of the newly-launched website, adding they aim to provide customers with convenience, choice, creativity and confidence in gift-giving. High profile hotels NEW World Development (China) Ltd, one of the major property development companies based in Hong Kong, recently announced plans to establish three more high profile hotels in Shanghai in the next two years. The Mayfair Hotel Shanghai, said to be the first foreign-owned and managed three-star hotel in Shanghai, is scheduled to open this spring. The four-star Belvedere Hotel Shanghai and five-star New World Tower will open late this year and in the summer of 2001 respectively. GE Toshiba JV GENERAL Electric of the United States announced its fourth investment in the city since last October. GE Toshiba Silicones Shanghai Co Ltd, with a total investment of $25 million, is owned 51 per cent by GE and 49 per cent by Toshiba. It is the largest foreign investment project approved by the Shanghai municipal government so far this year. The new plant, to be located in the Waigaoqiao Free Trade Zone of the city's Pudong New Area, will produce a wide range of high-quality silicone products to serve local markets such as construction, personal care and electrical and electronic industries, according to Gregory Adams, president and CEO of GE Toshiba based in Tokyo, Japan. (Star News)
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