New Foreign-managed Hotel to Open in Tibet

Sept. 2 – Beijing has approved the development of a new five star hotel in Tibet, the first to be developed there since the pull-out of the Lhasa Holiday Inn several years ago.

The hotel, to be built by listed company Tibetan Tourism, will be located in the remote town of Pai, in the beautiful Yarlung Tsangpo Valley, and is intended to be run by overseas management. The hotel is described as combining a conference center with a hotel and will be targeted at both domestic and international business users. The cost of the hotel is expected to run as high as US$14.7 million and will have 150 rooms. The construction and operations of the hotel are to be eco-friendly. Read the rest of this entry »

China’s Liverpool FC Purchase Good News for Shanghai

Op-Ed Commentary: Chris Devonshire-Ellis

Aug. 5 – The proposed purchase of England’s Liverpool Football club by the Chinese businessman Kenny Huang has raised many eyebrows, especially as the bid appears to be backed by a Mainland China investment fund, meaning it is being both politically and financially supported by the central government.

The fund, the China Investment Corporation (CIC), is a sovereign wealth fund responsible for managing part of China’s foreign exchange reserves. It was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds in the world. By the end of 2009, the CIC’s assets had grown to US$332 billion. While the acquisition of a high profile soccer club does appear to be a bit bling for the normally conservative Chinese, there is sound rationale behind the China backed proposal to purchase the club. Read the rest of this entry »

The Peace Hotel Reopens in Shanghai

SHANGHAI, Jul. 28 – The Peace Hotel reopened its doors today following extensive renovations to restore the classic Shanghai landmark. The hotel will be taking reservations beginning tomorrow.

Closed in 2007 by Fairmont Hotels & Resorts to undergo a serious face-lift, the Peace Hotel will join a growing stable of high-end hotels along Shanghai’s Bund that harkens back to Shanghai’s prewar heydays of the 1920s and 30s. Read the rest of this entry »

Art and Culture in Understanding China Business

Op/Ed Commentary: Chris Devonshire-Ellis

Jul. 28 – An important, but oft neglected or ignored aspect about conducting business in China – and especially when one is in a position of consulting foreign investors, as our practice Dezan Shira & Associates is, involves getting across to clients the importance of understanding or appreciating China’s culture. It’s that extra component that represents added value to a new-to-China investor, and can manifest itself in many ways.

A lawyer, accountant or consultant familiar with China with several years of on-the-ground experience will have developed his or her own circle of contacts, practical expertise and a “feel” for China that individuals and firms not in-country simply cannot match. A “second sense” tends to develop over whether or not a particular investment may or may not be a good idea, relationships (despite the naysayers, guanxi always exists) can be of assistance either directly or for asking advice, opinions or introductions, and a platform of “China security” exists for those who really do breathe the air, eat the food, speak the language and essentially, walk the walk. It’s a situation that all expatriates in China will appreciate. When they look back at what they’ve learnt in their years of being in China, there is no comparison, while firms and consultants based overseas just do not have that added “China” value. Read the rest of this entry »

Containing China from Mongolia to Vietnam

Op/Ed Commentary: Chris Devonshire-Ellis

Jul. 16 – At first glance, the cities of Ulaanbataar, the capital of Mongolia, and Hanoi, the capital of Vietnam, may not seem to have very much in common. Some 3,000 miles apart at opposite ends of Asia, the people, culture and history are very different except for one element, having China as a neighbor.

While Mongolia opted for assimilation into the Soviet Union as a communist nation in 1924, gaining independence again in 1992, Communism came to Vietnam in 1946 following the formation of the Vietnamese Communist Party led by Ho Chi Minh in Hong Kong in 1930. The First Indochina War pitted the communist Viet Minh against the French. The French were defeated in 1954 and the country was partitioned at the 17th parallel with the communists taking the North. This was followed by the American involvement to prevent the spread of Communism to the Republic of Vietnam in the South and throughout Asia until 1975 when the country was reunited with the communists, backed by China and the Soviet Union, gaining control of Saigon and forcing an American withdrawal. Read the rest of this entry »

Hong Kong Signs Double Tax Agreements with Eight Countries

HONG KONG, Jul. 12 – Hong Kong has signed comprehensive double tax agreements (DTAs) with eight countries since March.

The special administrative region now has DTAs with Brunei, Indonesia, Netherlands, Austria, Hungary, Kuwait, Ireland and the United Kingdom following the exchange of information model from the Organization for Economic Cooperation and Development. Read the rest of this entry »

A Linguistic Look at China’s Currency

Jul. 9 – China’s ethnic minorities account for only 8.5 percent of the population, but still number over 113 million. And while many are scattered to the outer boundaries of the nation, living in the high plateaus of Tibet or in the mountains of South China, their existence as a part of the political fabric of the People’s Republic of China can be see on one of the core documents of the nation, its currency.

China’s currency is the renminbi or “people’s money,” and while the current generation of banknotes has done away with images of various ethnic minorities in favor of Chairman Mao, the notes continue to retain some ethnic flavor, in the form of written language. Read the rest of this entry »

China’s National Dragon Boat Holiday

Jun. 11 – China Briefing readers should be aware that most Mainland China offices will be closed next week from Monday-Wednesday due to the Dragon Boat Festival taking place. This is a national holiday, and offices on the mainland will reopen on Thursday, June 17. Read the rest of this entry »

Expatriate Exodus as School Term Completion Brings End of China Contracts

BEIJING, Jun. 7 – The number of senior level expatriates appears to be heading for a drop in numbers when the Chinese school terms ends, sending an estimated 30 percent of expatriate families back to their home country.

According to an informal survey of international families, nearly one-third will be leaving China with their children following the completion of the year’s final term in China’s international schools. Read the rest of this entry »

An Invitation to Attend Business Advisory Council Meeting: UNDP Regional Entity for China, Russia, Mongolia and Korea

May 31 – The Greater Tumen Initiative (GTI) is the regional United Nations Development Program body responsible for business-to-government and government-to-government activities in China, Russia, Mongolia and Korea. It provides a unique multilateral forum for the member countries to identify and implement regional initiatives that encourage economic growth, multinational investment and infrastructure, improve regional living standards, and contribute to peace and stability in the northeast Asia region.

On behalf of Mr. James Zimmerman, the chairman of the GTI Business Advisory Council (BAC), the GTI BAC Secretariat, in conjunction with China Briefing, takes this opportunity to invite our readers to attend an informational meeting and reception of the GTI BAC to learn more about the BAC, its activities, and how your company can join and participate in the organization’s programs. Read the rest of this entry »

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