All posts by ChinaJob

China suffering shortage of civil aviation specialists

BEIJING (AFX) – China will need to employ at least 240,000 civil aviation specialists over the next two decades, the official Xinhua news agency reported, citing an industry expert.

‘China’s civil aviation business will suffer a shortage in specialists for quite a long time in the future,’ said Du Yefu, an expert from the Civil Aviation University of China, according to Xinhua.

China aims by 2020 to have a civil aviation market that is on a par with that of the US now, but there is currently a large gap between the two nations, the news agency said, citing Du.

Less than 200,000 people work for aviation companies in China compared with over 700,000 in the US, Xinhua said.

The average ratio between staff members and aircraft in international air companies is 100 to one, whereas in China it is 200 to one, the news agency added.

http://www.forbes.com/business/feeds/afx/2006/03/27/afx2625840.html

New Google China Head, Hunted Away from Microsoft

By Jim Hedger – July 26, 2005

Back in the good old days, headhunters never got sued. If a lawyer went nuts on you, there was always a good shrink available. Being a headhunter meant never having to say you were sorry. Corporate law has evolved substantially since then.

Today, Google is getting sued for headhunting one of the brightest techno-brains in China , Dr. Kai-Fu Lee. Actually, Dr. Lee was in Redmond Washington, working for Microsoft when the deal went down and Microsoft is pretty angry about it all.

In a press release issued last Tuesday, Google reported it had hired one of China ‘s most respected computer pioneers, Dr. Kai-Fu Lee. Problem is, until Monday afternoon anyway, Dr. Lee was the corporate VP of Microsoft’s Interactive Services Division. That got Gate’s goat, big time.

Hours before Google issued the press release, Microsoft issued suit in a Washington State court against Dr. Lee and his new employer, citing breach of contract. They are seeking an injunction to prevent Dr. Lee from taking his new position as head of Google’s China Division.

“Accepting such a position with a direct Microsoft competitor like Google violates the narrow non-competition promise Lee made when he was hired as an executive,” Microsoft said in its lawsuit, as quoted in a ZDnet report . “Google is fully aware of Lee’s promises to Microsoft, but has chosen to ignore them, and has encouraged Lee to violate them.”

The suit seeks monetary damages for the loss of Dr. Lee’s services as well as injunctive measures to prevent Dr. Lee from violating a narrowly worded non-competition agreement or sharing information Microsoft claims as its intellectual property. The lawsuit states that Dr. Lee was for some time, “responsible for overall development of the MSN Internet search application.”

Calling Dr. Lee’s move a “particularly egregious” violation of a non-competition agreement that was part of his contract with Microsoft, Deputy General Counsel, Tom Burt said Dr. Lee “…has access to sensitive information, to trade secrets about our search technology and business plans and our China business strategies.”

Google is planning to open a massive Research and Development Centre in China by the end of October. With decades of investment in science and engineering, and many of the world’s top technical universities, China is seen by most in the industry to be the leading IT nation in the near future. It also has an economy developing at 9% or more per year, three times faster than most G8 economies.

The press release noted these factors stating, “China , with its thriving economy and excellent universities, is home to many outstanding computer scientists and engineers. By establishing an R&D center in China, Google is making a strong commitment to attracting and developing Chinese talent, as well as partnering with local universities and institutes. The selection of Dr. Kai-Fu Lee to lead this important operation underscores Google’s commitment to building a successful Chinese product research and development center and to expanding its international business operations.”

Google VP of Engineering, Alan Eustace said, “The opening of an R&D center in China will strengthen Google’s efforts in delivering the best search experience to our users and partners worldwide. Under the leadership of Dr. Lee, with his proven track record of innovation and his passion for technology and research, the Google China R&D center will enable us to develop more innovative products and technologies for millions of users in China and around the world.”

As for Dr. Lee himself, apparently he informed his boss at Microsoft on July 5th that he wasn’t coming back from a sabbatical he had planned and that he was in discussions with Google about China. In the press release, Google spokespersons quoted Dr. Lee saying, “It has always been my goal to make advanced technologies accessible and useful to every user, as well as to be part of the vibrant growth and innovation in China today. Joining Google uniquely enables me to pursue both of my passions and I look forward to returning to China to begin this exciting endeavor.”

This is bound to get more interesting as time develops.

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http://www.searchengineguide.com/hedger/005181.html

Volvo to sell China-made luxury cars

MONDAY, MARCH 20, 2006

BEIJING The Swedish carmaker Volvo said Monday that it would start selling locally made S40 luxury sedans in China.

Ford Motor’s joint venture in China will produce 10,000 units of the S40 sedans a year from Changan Ford’s plant in the western city of Chongqing, said Frederik Arp, president and chief executive of Volvo Cars.

Volvo will start selling the S40 sedan this summer, which is from June to August in China.

“Local production is the key to remain competitive in China,” Arp said at a press conference. The company is facing a situation where its “main competitors are already producing their volume models locally.”

Rising incomes in China have generated an increasing number of buyers for premium cars. Car sales in China rose 21 percent in 2005 to 3.97 million units and could grow 17 percent this year, according to the China Association of Automobile Manufacturers.

So far, Volvo has imported cars into China. Last year, it sold 4,786 units, an 84 percent increase over 2004. Sales of the S40 accounted for nearly a third of the total.

Bayerische Motoren Werke said sales of cars made in China rose 77 percent to 15,300 units last year, compared with a 9.9 percent sales gain worldwide. BMW, which set up its China venture in 2003, makes five models at its venture in the northeastern city of Shenyang.

DaimlerChrysler’s venture in China, which started to sell locally made Benz sedans in December, increased sales of imported Benz cars by 39 percent to 16,128 units last year. The company is making two E-class models at its venture in Beijing. Chrysler Group plans to start making 300C sedans this year.

The decision to start local manufacturing was made because of “the significant growth of the overall market combined with the fact that the lion’s share of the growth is happening from local manufacturers,” Arp said. “So being an importer only is not necessarily a long term success situation.”

Depending on the demand, the output for the S40 from the Chongqing plant may rise, Arp said, without giving details. The sedan accounted for nearly a fifth of Volvo’s global sales last year.

“It’s a great advantage not to have to invest in all the facilities in a joint venture,” Per Norinder, Volvo Cars’ general manager in China said. “Changan Ford already has a factory up and running.”

A locally made Honda Civic

Honda Motor plans to sell locally made Civic compact cars in China.

The company, which produces the Civic in 12 countries, said it planned to sell 50,000 Civic units in China this year.

“Civic is more important for Honda in China than its other models like Accord, as the popular compact car model is more attractive to consumers with its cheaper price and fuel efficiency,” said Yale Zhang, an analyst with CSM Asia in Shanghai.

BEIJING The Swedish carmaker Volvo said Monday that it would start selling locally made S40 luxury sedans in China.

Ford Motor’s joint venture in China will produce 10,000 units of the S40 sedans a year from Changan Ford’s plant in the western city of Chongqing, said Frederik Arp, president and chief executive of Volvo Cars.

Volvo will start selling the S40 sedan this summer, which is from June to August in China.

“Local production is the key to remain competitive in China,” Arp said at a press conference. The company is facing a situation where its “main competitors are already producing their volume models locally.”

Rising incomes in China have generated an increasing number of buyers for premium cars. Car sales in China rose 21 percent in 2005 to 3.97 million units and could grow 17 percent this year, according to the China Association of Automobile Manufacturers.

So far, Volvo has imported cars into China. Last year, it sold 4,786 units, an 84 percent increase over 2004. Sales of the S40 accounted for nearly a third of the total.

Bayerische Motoren Werke said sales of cars made in China rose 77 percent to 15,300 units last year, compared with a 9.9 percent sales gain worldwide. BMW, which set up its China venture in 2003, makes five models at its venture in the northeastern city of Shenyang.

DaimlerChrysler’s venture in China, which started to sell locally made Benz sedans in December, increased sales of imported Benz cars by 39 percent to 16,128 units last year. The company is making two E-class models at its venture in Beijing. Chrysler Group plans to start making 300C sedans this year.

The decision to start local manufacturing was made because of “the significant growth of the overall market combined with the fact that the lion’s share of the growth is happening from local manufacturers,” Arp said. “So being an importer only is not necessarily a long term success situation.”

Depending on the demand, the output for the S40 from the Chongqing plant may rise, Arp said, without giving details. The sedan accounted for nearly a fifth of Volvo’s global sales last year.

“It’s a great advantage not to have to invest in all the facilities in a joint venture,” Per Norinder, Volvo Cars’ general manager in China said. “Changan Ford already has a factory up and running.”

A locally made Honda Civic

Honda Motor plans to sell locally made Civic compact cars in China.

The company, which produces the Civic in 12 countries, said it planned to sell 50,000 Civic units in China this year.

“Civic is more important for Honda in China than its other models like Accord, as the popular compact car model is more attractive to consumers with its cheaper price and fuel efficiency,” said Yale Zhang, an analyst with CSM Asia in Shanghai.

BEIJING The Swedish carmaker Volvo said Monday that it would start selling locally made S40 luxury sedans in China.

Ford Motor’s joint venture in China will produce 10,000 units of the S40 sedans a year from Changan Ford’s plant in the western city of Chongqing, said Frederik Arp, president and chief executive of Volvo Cars.

Volvo will start selling the S40 sedan this summer, which is from June to August in China.

“Local production is the key to remain competitive in China,” Arp said at a press conference. The company is facing a situation where its “main competitors are already producing their volume models locally.”

Rising incomes in China have generated an increasing number of buyers for premium cars. Car sales in China rose 21 percent in 2005 to 3.97 million units and could grow 17 percent this year, according to the China Association of Automobile Manufacturers.

So far, Volvo has imported cars into China. Last year, it sold 4,786 units, an 84 percent increase over 2004. Sales of the S40 accounted for nearly a third of the total.

Bayerische Motoren Werke said sales of cars made in China rose 77 percent to 15,300 units last year, compared with a 9.9 percent sales gain worldwide. BMW, which set up its China venture in 2003, makes five models at its venture in the northeastern city of Shenyang.

DaimlerChrysler’s venture in China, which started to sell locally made Benz sedans in December, increased sales of imported Benz cars by 39 percent to 16,128 units last year. The company is making two E-class models at its venture in Beijing. Chrysler Group plans to start making 300C sedans this year.

The decision to start local manufacturing was made because of “the significant growth of the overall market combined with the fact that the lion’s share of the growth is happening from local manufacturers,” Arp said. “So being an importer only is not necessarily a long term success situation.”

Depending on the demand, the output for the S40 from the Chongqing plant may rise, Arp said, without giving details. The sedan accounted for nearly a fifth of Volvo’s global sales last year.

“It’s a great advantage not to have to invest in all the facilities in a joint venture,” Per Norinder, Volvo Cars’ general manager in China said. “Changan Ford already has a factory up and running.”

A locally made Honda Civic

Honda Motor plans to sell locally made Civic compact cars in China.

The company, which produces the Civic in 12 countries, said it planned to sell 50,000 Civic units in China this year.

“Civic is more important for Honda in China than its other models like Accord, as the popular compact car model is more attractive to consumers with its cheaper price and fuel efficiency,” said Yale Zhang, an analyst with CSM Asia in Shanghai.

BEIJING The Swedish carmaker Volvo said Monday that it would start selling locally made S40 luxury sedans in China.

Ford Motor’s joint venture in China will produce 10,000 units of the S40 sedans a year from Changan Ford’s plant in the western city of Chongqing, said Frederik Arp, president and chief executive of Volvo Cars.

Volvo will start selling the S40 sedan this summer, which is from June to August in China.

“Local production is the key to remain competitive in China,” Arp said at a press conference. The company is facing a situation where its “main competitors are already producing their volume models locally.”

Rising incomes in China have generated an increasing number of buyers for premium cars. Car sales in China rose 21 percent in 2005 to 3.97 million units and could grow 17 percent this year, according to the China Association of Automobile Manufacturers.

So far, Volvo has imported cars into China. Last year, it sold 4,786 units, an 84 percent increase over 2004. Sales of the S40 accounted for nearly a third of the total.

Bayerische Motoren Werke said sales of cars made in China rose 77 percent to 15,300 units last year, compared with a 9.9 percent sales gain worldwide. BMW, which set up its China venture in 2003, makes five models at its venture in the northeastern city of Shenyang.

DaimlerChrysler’s venture in China, which started to sell locally made Benz sedans in December, increased sales of imported Benz cars by 39 percent to 16,128 units last year. The company is making two E-class models at its venture in Beijing. Chrysler Group plans to start making 300C sedans this year.

The decision to start local manufacturing was made because of “the significant growth of the overall market combined with the fact that the lion’s share of the growth is happening from local manufacturers,” Arp said. “So being an importer only is not necessarily a long term success situation.”

Depending on the demand, the output for the S40 from the Chongqing plant may rise, Arp said, without giving details. The sedan accounted for nearly a fifth of Volvo’s global sales last year.

“It’s a great advantage not to have to invest in all the facilities in a joint venture,” Per Norinder, Volvo Cars’ general manager in China said. “Changan Ford already has a factory up and running.”

A locally made Honda Civic

Honda Motor plans to sell locally made Civic compact cars in China.

The company, which produces the Civic in 12 countries, said it planned to sell 50,000 Civic units in China this year.

“Civic is more important for Honda in China than its other models like Accord, as the popular compact car model is more attractive to consumers with its cheaper price and fuel efficiency,” said Yale Zhang, an analyst with CSM Asia in Shanghai.

http://www.iht.com/articles/2006/03/20/bloomberg/sxford.php

Morgan Stanley China head of of investment banking quits

03.15.2006, 07:58 PM

BEIJING (AFX) – Morgan Stanley’s co-head of China investment banking, Zhao Jing, has resigned amid a wider management shake-up in the company’s China business, the Wall Street Journal reported.

Zhao, who joined Morgan Stanley in 1994, was the firm’s chief representative in Beijing and worked on last year’s 9.2 bln usd initial public offering of China Construction Bank Corp, the report said.

She has discussed joining Citigroup, according to people familiar with the matter, but has yet to reach a deal, the report added.

Last month, Morgan Stanley hired Wei Christianson, formerly the head of China investment banking at Citigroup Inc., to be its China chief executive after 11-year veteran Jonathan Zhu resigned to join private-equity house Bain Capital LLC.

Christianson will start working in May after a three-month leave required by Citigroup before joining a competing firm.

In the past several months, the firm has lost several investment bankers in Asia, such as Zhu and India banker Mihir Doshi, who left to join Credit Suisse Group.

http://www.forbes.com/business/feeds/afx/2006/03/15/afx2598117.html

O’Melveny acquires Freshfields former China head

LA-based O’Melveny & Myers has bagged the former head of Freshfields Bruckhaus Deringer’s China practise.

Michael Moser retired from Freshfields’ partnership to be replaced by New York-qualified M&A specialist Douglas Markel, as revealed by The Lawyer (27 February). He will now co-head O’Melveny’s Asia practise, alongside current head Howard Chao.

He will work from the firm’s Hong Kong and Beijing offices. Moser has practiced in Asia for 25 years. His experience includes advising on M&A, foreign direct investment, technology licensing, and corporate restructuring. He also has experience resolving disputes between Chinese and foreign businesses.

Moser joined Freshfields in December 1999, after being poached from Baker & McKenzie, where he headed the firm’s China practice.

Moser is a member of the panel of the China International Economic and Trade Arbitration Commission (CIETAC), and vice-chairman of the Governing Council of the Hong Kong International Arbitration Centre.

He was made vice chairman of the Hong Kong International Arbitration Centre (HKIAC) in 2004, and was the first foreign national to be appointed an arbitrator in mainland China.

http://www.thelawyer.com/cgi-bin/item.cgi?id=119025&d=122&h=24&f=46

UBS appoints Henry Cai as China investment banking chairman

03.31.2006, 05:15 AM

BEIJING (AFX) – UBS said it has appointed Henry Cai to the new position of chairman of investment banking for China, effective today.

The Swiss-based bank said in a statement that Cai, formerly with BNP Paribas, would work with its mainland banker Zhang Wendong and others in leading its China business.

Cai, who has 12 years experience in the listing of Chinese firms, lead managed more than 2.5 bln usd of underwriting projects in his previous job with BNP Paribas, the statement said.

http://www.forbes.com/markets/feeds/afx/2006/03/31/afx2636335.html

Wethington Named Chairman of AIG Companies in China

March 7, 2006

American International Group Inc. (AIG) reported that Olin Wethington, former special envoy on China, U.S. Department of the Treasury, has joined AIG as chairman of AIG Companies in China, a new position.

In this capacity, Wethington will oversee expansion of AIG’s businesses in China. Wethington will report to AIG Senior Vice Chairman Edmund S.W. Tse, and will work closely with Tse and with AIG President and Chief Executive Officer Martin Sullivan.

Wethington has extensive experience in government and the private sector involving China. He has served in a variety of senior positions in the U.S. Treasury Department, including special envoy on China in 2005; counselor to the Secretary of the Treasury; and assistant secretary for International Affairs.

Commenting on Wethington’s appointment, Sullivan said, “We are delighted that Olin Wethington will be joining AIG in such a senior position. Olin’s many accomplishments include negotiating on behalf of the U.S. government a number of financial market agreements with other countries. China is a very important market for AIG, dating from the earliest days of the company. AIG re-entered the Chinese insurance market in 1992, the first foreign company to do so, and we now have extensive life and non-life insurance operations in the major Chinese cities. Going forward, we expect to grow these businesses, as well as continue to develop our financial services and asset management operations. I expect Olin Wethington to be a key leader of our expansion efforts in China.”

http://www.insurancejournal.com/news/international/2006/03/07/66243.htm

Taiwan Greater China Fund Appoints Vice Chairman

NEW YORK–(BUSINESS WIRE)–Feb. 27, 2006–The Taiwan Greater China Fund (NYSE:TFC), a diversified closed-end investment company registered in the United States, today announced that its Board of Trustees has appointed Frederick C. Copeland, Jr. as Vice Chairman. Mr. Copeland has been a Trustee of the Fund since May 2004.

From 1995 to 2001, Mr. Copeland served as President, Chief Executive Officer and Chief Operating Officer of Aetna International, where he was responsible for all of Aetna’s insurance and financial services activities outside the United States and was a member of Aetna’s CEO Management Committee. He left Aetna following the company’s acquisition by ING at the end of 2000.

Prior to joining Aetna, Mr. Copeland headed the Connecticut operations of Fleet Bank for two years. Mr. Copeland began his banking career at Citibank in 1967 and spent 25 years there, during which period he held various executive positions that included acting as President and Chief Executive Officer of Citibank Canada from 1987 to 1993. He served as Citibank’s Taiwan Country Head from 1983 to 1987, at which time Citibank’s assets in Taiwan exceeded those of any other foreign bank.

Mr. Copeland has also been the Vice Chairman of Far East National Bank (FENB) since 2005. Based in Los Angeles, California, FENB was founded in 1974 as the first federally chartered Asian American bank in the United States, and became a wholly owned subsidiary of Taiwan’s Bank SinoPac in 1997.

The Taiwan Greater China Fund is listed and publicly traded in the United States. The Fund is organized for investment in securities of Taiwan issuers by non-Taiwan investors and follows an investment strategy of primarily investing in Taiwan listed companies that derive or expect to derive a significant portion of their revenues from operations in or exports to mainland China.

http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060227005553&newsLang=en

China Netcom CEO Plans To Leave And Work For Venture Fund

February 28, 2006
Rumors are swirling that Edward Tian, CEO of China Netcom (CN), plans to leave the company to head a new venture fund.

Local media report that Tian will lead a Chinese broadband services fund that could be financed by Rupert Murdoch and Hong Kong’s PCCW.

No specific departure date has been determined and officials at Netcom have not made any comment.

http://www.chinatechnews.com/index.php?action=show&type=news&id=3610

China Shenzhen Investment hires UBS analyst as COO

Last Update: 10:03 AM ET Mar 20, 2006

HONG KONG (MarketWatch) — Shenzhen Investment Ltd. (0604.HK) said it has appointed Joe Zhang, formerly a high-profile research analyst for Swiss bank UBS AG (UBS), as its chief operating officer.
Shenzhen Investment is a Hong Kong-listed company controlled by the municipal government of Shenzhen, Guangdong province, which borders Hong Kong. It has interests mainly in property and infrastructure.