UK insurer eager to enter China
BRITAIN-BASED Standard Life Insurance Co, the second largest insurance services provider in the UK market, is waiting to discover whether it will be given a licence to set up a joint venture in China.
Business goes on-line and to chainstores
THIS year Shanghai plans four or five commercial projects in which it expects to co-operate with foreign investors.
Office products' market growth spurs investment
THE US-based Avery Dennison Co, a world leader in the manufacture of pressure sensitive materials and office products, last week announced it was set to increase its investment in the China market by another $40 million.
Global participants sign up for ProPak 2000
PREMIER packaging and processing trade show - ProPak China 2000 - is due to be staged at INTEX Shanghai from May 24-27.
Services to duel for eastern US
DESPITE a 0.9 per cent decrease in the composite freight index for China's export containers, some services have reported brisk business.
Local job network extends to West China
CHINA Human Resources (HR) Market (Shanghai) is to establish its second representative office in Xi'an, capital of Northwest China's Shaanxi Province next month.
Dell launches series of workstations
DELL Computer Co, global computer software maker, on Thursday launched its latest family of Window NT-based Precision Workstations on the Chinese market, the company's eighth largest market.
Mobile phone fight for customers
INTENSE competition in the fledgling IT market in China has powered technical innovation and the gradual reduction of the prices, good news for consumers.
IBM breaks through the language barrier
SURFING the Internet has caught on in a big way in China, but the preponderance of sites in English prevents many from using the service to its full capacity.
Increased office space lures business to Pudong
By Ta Ta
PUDONG office market is booming for a number of good reasons which include a gradual concentration of high quality buildings in certain areas and governmental policies. Lujiazui is the prime core of the new area within the Inner Ring Road, and is itself further divided into three major sub-zones. "Little" Lujiazui is the most important among the three with its total number of commercial buildings reaching 61 and residential buildings reaching seven in the development plan. "It has already now taken over the position previously held by Hongqiao as the largest single cluster of office buildings in Shanghai, according to a report by FPDSavills Shanghai in January. Of the developments, around 75 per cent is planned for office and hotel use. The office stock is expected to reach 3 million square metres by 2010. Among the already-completed office buildings there are both properties developed by international developers, such as Shanghai Senmao International Tower, and those developed by governments from other provinces or ministries. As the report by FPDSavills indicated, not all the land-use rights for these planned projects have been sold, so exact completion dates of all the properties remain uncertain. Since the People's Bank of China Shanghai Branch relocated to Lujiazui in 1995, and then the Shanghai Housing and Land Management Bureau in 1996, more companies and government institutions have been following suit, said FPDSavills report. The year 1997 saw the biggest influx with 18 major international financial institutions and the Shanghai Stock Exchange moving, the report said. The influx is continuing with the largest moves in 1999 including Hongkong and Shanghai Banking Corporation to Shanghai Senmao International Building, and Carrefour China to Shanghai Securities Exchange Tower. The moves are taking place as a result of government policy, convenience and to take advantage of new office space available, the FPDSavills' report said. To support properties developed by governments of other provinces and ministries, Pudong government implemented very preferential policies to help boost the sales or leasing of those properties in 1998. Since then, the sales or leasing rates in such properties in little Lujiazui, including Yu'an Building, Purple Mountain Hotel, Shanghai Huaneng Building and Jinmao Tower, have been increasing. However, improvements in occupancy rates of the buildings in other areas of Pudong have not been obvious.
Copyright 2000 by Shanghai Star. All rights reserved.