ChinaRealNews

China’s Priciest Properties

2008-05-05 Shanghai

Overseas investors were responsible for more than half of China’s high-end housing sales two years ago. Today, the homegrown nouveau riche account for more than 70% of luxury home transactions, according to Jones Lang LaSalle. Luxury residential development has been most brisk in mainland China’s biggest cities including Shanghai, Beijing and Shenzhen.

Budget Transparency Urged in Government Procurement

2007-11-14 Beijing

The release and enforcement of the Government Procurement Law of China have spawned many disputes across the country, one of which is whether the budgets for government procurement items should be published. Industry analysts believe that the budgets should be announced to regulate the procurement activities of purchasers, improve the efficiency in the use of government procurement funds and enhance the transparency of government procurements.

It may be difficult to implement policy on paid annual leave in Mainland

2007-11-13 Beijing

The Chinese government recently launched a new policy concerning the paid annual leave, which prescribes that workers who work for more than one year for the same employer shall have the right to enjoy the paid annual leave. However, it may be difficult for China to implement the policy, as some workers would like to earn higher wages through overtime work, according to analysts. In addition, the policy is expected to have little impact on Taiwan’s employers who do business in Mainland, largely due to the high employee turnover.

China to launch “Golden Bee Award” program on corporate social responsibility

2007-11-08 Beijing

In order to commend responsible enterprises, China will kick off a “Golden Bee Award” program on corporate social responsibility. The selection process will take place from 6 November 2007 to 11 January 2008. Companies that are actively fulfilling their social responsibilities can sign up for the competition.

Responsible countries need responsible enterprises

2007-11-07 Beijing

As one of the most talked topics among Chinese enterprises, corporate social responsibility plays an important role in building a harmonious society and provides the foundation for the growth of Chinese entrepreneurs. The governments should develop relevant legal policies to encourage enterprises to fulfill their social responsibilities. Besides, companies in developing countries should strengthen cooperation with those in developed countries.

Fujian supports preferential procurement of energy-saving, environmentally-friendly products

2007-11-05 Fuzhou

A source with the Finance Bureau of Fujian province said that the government of the province has launched a series of measures to support preferential procurement of energy-saving and environmentally-friendly products. As a result, more and more energy-saving and environmentally-friendly products are expected to enter offices of the governmental departments, according to the source.

Fulfillment of social responsibility needs every enterprise’s efforts

2007-11-02 Beijing

Recently, 17 member enterprises had a heated discussion on how to fulfill social responsibility at a corporate social responsibility (CSR) -themed summit, which lasted for 2 days. According to He Zhiyi, secretary-general of the Chinese Federation for Corporate Social Responsibility, the CSR activity is well underway in China, and that the challenge facing China is that how should enterprises fulfill the social responsibility in the new environment of market economy. As CSR is a tool to achieve the sustainable development of society, he calls on each enterprise to should their responsibilities.

Chinese government’s new policy relieves pressure on SMEs in Hong Kong

2007-09-10 Hong Kong

In August, approximately 30 small and medium-sized enterprises of an association in Hong Kong shut down. The Chinese government has relaxed the requirement for deposits of processing from imported materials, which relieved the pressure on Hong Kong’s enterprises. However, the U.S. toy manufacturer Mattel continued to recall Chinese-made toys, causing potential risks to local companies.

Member of Legislative Council to call for thorough investigation into Octopus Cards’ wrong deduction incident

2007-08-07 Hong Kong

Commenting on the puzzles concerning Octopus Cards Limited’s recent wrong deduction incident, Mandy Tam, member of the Legislative Council of Hong Kong, said that the company needs to make a further explanation on the issue and that the Hong Kong Monetary Authority also needs to explain its role and responsibility in relation to the incident. To prevent such an incident from happening again, Tam plans to call for the authorities to carry out a thorough investigation into the incident at a Legislative Council meeting in October.

Investors advised to learn about government policies

2007-07-31 Beijing

The Chinese government is playing a critical role, as its economy is shifting from planned economy to market economy. As a result, investors must learn about the policies of Chinese government and market trends, said a chartered financial analyst (CFA) at an investment strategy forum jointed organized by The Securities and Futures Commission (SFC), The Hong Kong Society of Financial Analysts (HKSFA) and The Li Ka Shing Institute of Professional and Continuing Education (LiPACE). The consumption of middle class is expected to increase dramatically in Mainland China. The construction of infrastructure will benefit industries, such as machine, steel and iron, aluminum and railway equipment. More state-owned enterprises will be listed in stock market. Coal prices are expected to continue to rise.