1. How China's Self-Made Women Billionaires Earned Their Fortunes
Just eight women rank among the 100 wealthiest people in China, according to the Forbes list of China’s 100 richest, published last week. Of those eight women, two inherited their fortunes. The other six are self-made billionaires – a pretty impressive statistic, considering that just 7 of the 45 women on the Forbes 400 list of richest Americans built their own fortunes.
What’s amazing is how young, relatively speaking, most of the Chinese women billionaires are. Five out of the six are in their forties. Their youth speaks to the incredible growth of capitalism, and the growth of the economy, in recent decades in China.
An interesting read.
2. China and Its Trade Practices Are Coming to the Debates
Many Asia experts say Mr. Romney’s comments are indeed tough. They begin with a pledge to brand Beijing a currency manipulator on his first day in office, and end with promises to increase America’s
already formidable military presence in the western Pacific and sell new American fighter jets to Taiwan. Analysts say such moves would amount to a profound shift in a policy toward China that has remained remarkably constant for decades across Republican and Democratic administrations. And they would be virtually certain to upend relations with Beijing’s leaders.
Why don't any of the candidates have the guts to tell the American public the truth - that access to China's middle class is good for American businesses and (as posted below) Chinese businesses are more and more investing in the US.
3. Coffee Chain Brands Expand In Retail Downturn
International coffee chain brands are rapidly expanding in the Chinese market against the background of a retail industry downturn.
Howard Schultz, founder and CEO of Starbucks (NASDAQ: SBUC) said earlier this year that though Chinese economic growth has slowed, he is still confident in a stable market and that by 2015, 1500 Starbucks outlets will be open in mainland China. Costa, from Italy, is trying to get a foothold in shopping malls by cooperating with Beijing Huanglian Group (600361.SH). Costa owns about 200 outlets in China now, and plans to take one-third of the share of the Chinese coffee market by opening 2500 outlets by 2018. Paul Smith, CEO of Costa Asia, has even said he will "resign if he cannot beat Starbucks in China".
Every time I go into a Chinese Starbucks it's packed with people. China still has a lot of growth potential in this area - I was just in Korea and there were 2-3 coffee shop on every block.
4. ZTE Shares Dive On Q3 Warnings
Shenzhen-based ZTE and cross-town rival Huawei Technologies Co Ltd, the world's second-largest telecom gear maker, are fighting weakened sales as some clients postpone spending on telecom equipment.
Both their outlooks have also been muddied by a recent US congressional report that urged American firms to stop doing business with them due to potential security concerns, but both have denied the report's allegations.
That US congressional report was devastating to both ZTE's and Huawei's American growth potential.
5. Yuan Rises To New High Against Dollar
The Chinese yuan traded at an intraday peak of 6.2654 against the dollar on China's spot currency market Friday, a record high against the greenback according to data provided by the State Administration of Foreign Exchange (SAFE), a development which likely signals the weakening value of the dollar rather than the start of another major round of appreciation by the renminbi, experts told the Global Times Sunday.
When I first arrived in China the exchange rate to the dollar was almost 8 to 1. Now it's approaching 6 to 1. Guess I should exchange those remaining dollars I have in my apartment to yuan.
6. Lumia 920T Leaks In China, Could Be Nokia's Ticket To A Huge New Subscriber Base
Corroborating earlier reports of a Lumia 920 that is compatible with China Mobile's TD-SCDMA network, the phone's settings screen mentions "CMCC", which is a reference to that operator -- although it's not clear whether the handset will also support the carrier's proposed LTE network.
I will be very tempted to buy this phone if it works on China Mobile's new LTE network. I need to keep my current China Unicom phone number but am also interested in getting a China Mobile LTE device. This could be that device (finger's crossed).
7. Chinese Investment In US Grows Despite Rhetoric
calls for curbs on Chinese firms in the United States as the presidential
election campaign heats up, mainland and Hong Kong investments in the US have
nearly doubled this year and are expected to remain strong next year.
of mergers and acquisitions (M&A) by Hong Kong and Chinese companies in the
US soared by 93.7 per cent to US$6.96 billion in the first nine months of this
year, according to Mergermarket, an international publisher of deals data.