Archives April 2007

Drive to educate brand managers

FACING a shortage of brand management professionals, the Shanghai Economic Commission has launched a training program to cultivate managers for local big enterprises this month.

The proactive approach is to introduce the most advanced brand concepts and international experience on strategy, design, communication and management.

“Experts from universities and multinational enterprises have been invited to train qualified brand managers,” said economic commission spokesman Li Bai. The program includes 80 classes in six days.

“Following a long-term neglect of brand consciousness, Chinese brands have lost out in the pace of globalization,” said an official surnamed Yang in the scarce talents training center. “Now many corporations have realized the urgency to solve the shortage and improve the quality of brand management.”

So far the program has attracted more than 200 leaders from state-owned businesses, which are facing challenges and opportunities in promoting their brands overseas.

China Finance Mananger

Job Description:
Company introduction:
Our client is a German founded company with more than 160 years of experience and competence in the development of innovative cookware and kitchen accessories. It develops with rapid growth into a nationally and internally successful company, which is now represented in more than 60 countries all over the world.
Our client pursues one objective above all ¨C developing products that are outstanding in quality, function and design, and which offer quality of life and optimal cooking results. The company emphasizes technological know-how that has grown over the course of generations, meticulous manufacturing, innovativeness, and orientation to the customer¡¯s needs ¨C these are the pillars upon which the company¡¯s philosophy and the secret to its success have been built.
With its superior product ideas, the company has been Number One in the cookware market for decades. Many other innovations have revolutionized the world of cooking and dining.
With their expanding in China, they are looking for the new talent to join their company.

Report To:General Manager
Location:Shanghai

Responsibilities:
1.To prepare financial statements, cash flow management, preparing forecasts, reports and analysis, making balance sheets based on local Chinese and international accounting standards;
2.Responsible for AP, AR, GL & fixed assets process;
3.Financial planning and control as well as providing day to day support to the company;
4.To manage tax & foreign exchange control issues to comply with laws & regulations;
5.To liaise with head office in Europe, professional advisors, banks, auditors, local government departments and tax authorities;
6.To create, maintain and implement appropriate policies and procedures for the Finance Department;
7.To supervise & coach a team of subordinates in daily operation.

Requirements:
1.Bachelor Degree in Accounting/Finance or related field;
2.Qualified CPA is a must. Familiar with Chinese GAAP & IAS;
3.Familiar with Accounting software such as Kingdee & MS Office software;
4.Mature personality, self motivated & good interpersonal skills;
5.Good team spirit & team management;
6.Strong command of both written & spoken English;
7.At least 8 years of working experience in accounting/financial field in management position of Multinational Corporation.

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_fi138sh@dacare.com’

HR & Admin Supervisor

Company introduction:
Our client is a German founded company with more than 100 years of experience and competence in the development of innovative cookware and kitchen accessories. It develops with rapid growth into a nationally and internally successful company, which is now represented in more than 60 countries all over the world.
Our client pursues one objective above all ¨C developing products that are outstanding in quality, function and design, and which offer quality of life and optimal cooking results. The company emphasizes technological know-how that has grown over the course of generations, meticulous manufacturing, innovativeness, and orientation to the customer¡¯s needs ¨C these are the pillars upon which the company¡¯s philosophy and the secret to its success have been built.
With its superior product ideas, the company has been Number One in the cookware market for decades. Many other innovations have revolutionized the world of cooking and dining.
With their expanding in China, they are looking for the new talent to join their company.

Report To: General Manager
Location:Shanghai

Responsibilities:
1.Develop and maintain HRIS system, fulfill the needs of organization development and improving the effectiveness.
2.Support activities in building talent pool and succession plan.
3.Review and develop HR policy and comply with the market practice and local regulations, ensure HR compliance.
4.Monitor the whole process of monthly payroll and social insurance to ensure timely and accurately delivery.
5.Generate all kinds of HR reports, both internal and external required.
6.Develop and maintain the HR system, reengineering the process transformation.
7.Assisting HR manager of China for other and hoe HR tasks.
8.Support all admin work in the company.

Requirements:
1.Bachelor degree and a minimum of 5 years of HR experience, 3 years experience in staffing area in MNC.
2.Familiar with labor law and local regulations.
3.Excellent communication and influence skills.
4.Positive attitude and able to take multi tasks.
5.Open-minded and be proactive team player.
6.Good command of English in reading, writing and speaking.

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_hr087sh@dacare.com’

Citic Bank’s IPO may be world’s largest sale

CHINA Citic Bank Corp may raise as much as US$5.7 billion in a simultaneous Hong Kong and Shanghai initial public offering, the world’s largest stock sale so far this year, three sources said.

The Beijing-based bank plans to offer 2.3 billion new shares in Shanghai at 4.66 yuan to 6.1 yuan to raise up to 14.03 billion yuan (US$1.82 billion), the people said. The company may raise a further HK$30.17 billion (US$3.86 billion) selling 4.89 billion shares in Hong Kong at HK$4.72 to HK$6.17, they said.

Mainland banks and insurers have sold US$61.1 billion of shares in Hong Kong and Shanghai since June 2005, when Bank of Communications Co became the first domestic bank to go public in Hong Kong. They have been encouraged by high valuations as investors seek to benefit from China’s rapid economic growth, said Bloomberg News.

“This is not a bargain price” for stock in China’s eighth-largest bank by assets, said Wu Xuan, a Shenzhen-based analyst at Penghua Fund Management Co. It “leaves little room for future upside gains if it’s priced at the top end.”

At the upper end, Citic Bank’s sale could be the world’s largest stock sale so far this year, according to data compiled by Bloomberg. It could trump a US$5.5 billion closed-end fund launch in the United States and a secondary share sale by Ping An Insurance (Group) Co, China’s No. 2 insurer, which raised slightly more than US$5 billion in February.

The price ranges value Citic Bank at 2.48 times to 2.81 times its estimated book value this year, according to the three people, who declined to be identified before an official statement. The price ranges have yet to be approved by the China Securities Regulatory Commission.

The new shares to be listed in Shanghai represent a six percent stake in the bank, while those in Hong Kong are equivalent to 12.8 percent. The stock may start trading on April 27, Citic Bank said.

China International Capital Corp, Citigroup Inc, Citic Securities Co, HSBC Holdings Plc and Lehman Brothers Holdings Inc are arranging the sale.

China has the most expensive bank stocks in Asia’s emerging markets, trading at about 3.2 times estimated book value in 2007, compared with 1.7 times for peers in India and 1.4 times for Korea, according to a Morgan Stanley report.

The Industrial & Commercial Bank of China Ltd, the nation’s largest, traded at 2.79 times the consensus book value estimate for 2007 in Hong Kong, higher than 1.7 times for HSBC and 1.94 times for Citigroup.

Citic Bank was China’s seventh-largest by total assets at the end of 2005, according to a preliminary share sale document. The company fell to eighth last month after the Postal Savings Bank of China was established.

Profit this year was expected to gain 53 percent to 5.69 billion yuan, according to an April 4 statement.

The company may achieve loan growth of 20 to 21 percent this year and in 2008, according to Bear Stearns Asia Ltd analysts.

IE Supervisor / Manager – A Top Electronic Company, Fortune 500

Location: Kunshan
A Top Electronic Company, Fortune 500
JOB SUMMARY:
Manage IE section and drive Lean production activity across the plant
Duties & Responsibilities:
1.Manage IE section to achieve the goal.
2.Drive and implement Lean production activity across the plant
3.Responsible for plant layout optimize
4.Drive production efficiency improvement
5.Other tasks assigned by supervisor
Qualifications:
Education/Knowledge: Bachelor Degree, Engineering background
Experience:
1.Minimum 3 years IE experience and 1 year Supervisor experience in Electronics/Automotive Manufacturing Environment
2.Strong IE skills set, including work methods, operator/ work balance, layout, standard time and manufacturing system design is required
3.Lean production experience is a must
4.External & Internal Contacts:

Special Skills or Qualifications that are helpful:
1.Familiar with Office/AUTO CAD
2.Good personality & Team work
3.Excellent communication (written and verbal) and organizational skills
4.Logical mind with good data analysis skill
5.Be responsible and be aggressive

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_eo092ks#dacare.com'(Please replace “#” with “@”)

Finance Manager

Location: Shanghai
Job Description: Seeking an experienced and proactive finance manager to manage and develop its accounts department.
Reporting to: General Manager – Shanghai

Qualifications:
1.5 or more years accounting experience and at least 2 years management experience in a foreign enterprise.
2.Qualified Accountant with university degree in accounting and/or finance.
3.Familiarity with PRC GAAP requirements for FIEs
4.Strong English communication skills and positive team work spirit
5.Good negotiation skills.

Responsibilities:
1.Creates and manages all the financial details associated with the operations in accordance to PRC GAAP.
2.Drafts the budgets and create financial management reports including international reporting to GM and executive team.
3.Implementation & updating of internal control policies and procedures as set by PRC GAAP.
4.Assures all the necessary professional company operational licenses are up to date as per requirement of the Chinese authorities.
5.Participates in senior management directional meetings as per management schedule.
6.Assists senior executive team in developing effective managerial and business cross-references including control policies.

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_fi137sh#dacare.com'(Please replace “#” with “@”)

Minimum Wage Standard Implemented In Guangzhou

April 6, 2007
News from Guangzhou Municipal Labor and Social Insurance Department is that from April 1, the minimum wage of RMB7.5/hour has been implemented among all non-full-time employees in Guangzhou, excluding Huadu, Fanyu, Chonghua and Zengcheng.

At the end of last year, GZMLSID released the province’s first minimum wage standard for non-full-time employees. The standard consisted of five categories, ranging from RMB7.5 per hour to RMB4.3 per hour. The standard for Guangzhou is RMB7.5 per hour, which is the same as that of the provincial level minimum wage. The minimum wage for non-full-time workers in Huadu, Fanyu, Chonghua and Zengcheng is RMB6.6 per hour.

A representative from GZMLSID emphasizes that this minimum wage standard is only applicable to non-full-time employees, such as those who work on an hourly basis and work for no more than five hours a day, and no more than 30 hours in a week. The person says that companies should sign full-time labor contracts with those who work for more than 30 hours a week.

At present, Guangzhou’s food and beverage industry uses the most non-full-time employees.

Center For NPOs Opens In Shanghai

A city based development center will open in Pudong, Shanghai this month to serve as an incubator of nonprofit organizations.

“The capacity and accountability of grassroots NPOs are not strong enough. Many of them lack regular offices, stable source of funds and professionals,” said Lu Zhao, director of the incubation center. “So we have established an office center in Pudong for those NPOs for free.”

Funded by the local Pudong government, the center aims to provide support services to Shanghai’s growing not-for-profit sectors, especially grassroot NPOs.

As NPOs in China are still in their infancy, the center will provide professional training programs such as financial management, volunteer management, fundraising and strategic planning.

From this month, NPOs in the city run by members of the public can apply to become members of the incubation center.

Bureau hits target for overseas talents

MORE than 10,000 overseas professionals have been lured to Shanghai in the past 15 months – nine months ahead of a target set by the Shanghai Personnel Bureau.

The bureau said yesterday that as of the end of February, 10,324 overseas professionals had come to work in the city. Half of the number were overseas Chinese who have acquired foreign citizenship. Most come from developed countries including the United States, the United Kingdom and Japan.

“We are glad to see so many overseas talents coming to work for Shanghai’s development, but how to retain them and use their expertise to the fullest remains a challenge that tops our work agenda in the following period,” said Mao Dali, vice director of the bureau.

The bureau launched the recruitment drive in December 2005, and had initially aimed to reach the 10,000 mark before this December.

The city launched a similar drive in August 2003 and reached the 10,000 figure 27 months later in November 2005.

The bureau said yesterday that nearly 34 percent of the incoming professionals hold a PhD, nearly 10 percentage points higher than that of the first recruitment drive.

Shanghai Automotive Industry Corporation (Group) recruited seven doctorate holders from the United States as vice presidents or program directors to develop its own brands and clean-energy cars last year.

To date, more than 68,000 returned overseas Chinese and about 70,000 foreign professionals work in the city, the bureau said.

New bank branch

HANG Seng Bank yesterday opened its seventh outlet in Shanghai, further expanding its network in mainland China to 17 outlets. Occupying 600 square meters over two floors, the branch is located at Jing’an District and provides a full range of banking services.