ecns [expanded by feedex.net]
ecns
Antitrust law 'will level the playing field'
http://www.ecns.cn/business/2014/02-28/102714.shtml
Feb 27th 2014, 22:50
2014-02-28 07:50
The Ministry of Commerce is drafting improvements to the nation's antitrust laws, part of the government's drive to build a level playing field for all companies.
"We have finished the draft of 'Imposing Restrictive Conditions on the Concentration of Undertakings'. It is undergoing internal approvals and is expected to be released in the first half of this year," Shang Ming, direc-tor-general of the anti-monopoly bureau of the ministry, told a news confer-ence on Thursday.
The rules will spell out in detail the restrictions that may be imposed by anti-mo-nopoly authorities in reviews of mergers and acquisitions.
The regulations will replace interim provisions issued in July 2010, known as Implementing Assets or Business Divestment Related to the Concentration of Undertakings.
China is a relative newcomer in terms of anti-monopoly reviews, but its reviews increased rapidly after Aug 1, 2008, when the Anti-Monopoly Law took effect.
As of Dec 31, the ministry had received 866 filings related to industrial concentration, officially accepted 797 and settled 740 cases, according to the ministry.
Breaking down the settled cases, 717 were approved without conditions, 22 were conditionally approved, and one was rejected, the ministry said.
In 2013 alone, the ministry received 224 filings involving industrial concentration, up 8 percent, and accepted 212 of them, up 12.8 percent.
Of those cases, 207 were resolved, up 26 percent, with four conditionally approved.
In April 2013, the ministry approved the acquisition of Xstrata Plc by Glencore International Plc, the largest merger in mining history, but with restrictions, saying that the transaction would limit competition in copper, lead and zinc concentrates.
China is the largest target market for Glencore's mining products and an important target market for Xstrata's mining products.
The National Development and Reform Commission has confirmed that it is conduct-ing an antitrust investigation into US mobile chipmaker Qualcomm Inc for allegedly abusing its dominance in the wireless telecommunication copyright and chip markets.
"As for restrictive condi-tions, China took various measures, and they were determined by the specifics of each case and the difference in terms of competition issues.
"We are summarizing the experience from these cases and will set down effective measures in the draft rule," Shang said.
To make reviews more effi-cient and reduce filing bur-dens, the ministry on Feb 11 released the final version of its Interim Provisions on the Standards that Apply to Sim-plified Cases of Concentra-tions of Undertakings.
The document is seen as a genuine fast-track procedure for simple cases.
Zhang Yizhe, a partner in the antitrust and competition practice at Jones Day law firm, said that the ministry has established itself as an "important stop" in the global merger clearance process for international transactions.
"The biggest challenge during the ministry's investigation of transactions that may raise competition concerns is that the parties aren't given much detail regarding the ministry's concerns, the underlying evidence and its theory of competitive harm," Zhang said.
Last year, China pledged to accelerate the construction of a modern market system and let the market play a decisive role in allocating resources.
These reforms are intended to end local protectionism, strengthen anti-monopoly efforts and combat unfair competition.
Yao Jian, spokesman for the ministry, said that the ministry and other government departments are working to clear regional "blockades" and industrial monopolies.
That effort includes improving tax provisions for operations that cover more than one region, removing discriminatory product and service prices within a region, and dismantling barriers to the flow of products and ser-vices between regions.
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Thursday, February 27, 2014
ecns [expanded by feedex.net]: Asset theft is top economic crime in China
ecns [expanded by feedex.net]
ecns
Asset theft is top economic crime in China
http://www.ecns.cn/business/2014/02-28/102713.shtml
Feb 27th 2014, 22:47
2014-02-28 07:47
China's economic crime rate may be lower than that of the world, but many companies in the Chinese mainland are extremely concerned about bribery, corruption and procurement fraud, according to a PwC survey released on Thursday.
The analysis is based on responses from more than 5,000 executives from 95 countries and regions, including 85 in the Chinese mainland and 116 in Hong Kong and Macao, and given during the past 24 months.
The report said 27 percent of mainland respondents and 16 percent from Hong Kong and Macao said they had been victims of economic crime, compared with 37 percent globally and 32 percent in Asia Pacific.
But a reduced capability among mainland-based organizations to detect economic crime could partly explain the results.
Asset misappropriation in China was the largest type of fraud reported, which was in line with global results.
In the mainland, procurement fraud came second, as reported by respondents who said their organizations had suffered economic crime.
It was closely followed by bribery and corruption in the mainland, and money laundering and cybercrime in Hong Kong and Macao.
"Two recurring themes featured heavily in the Chinese mainland within the survey: concern about bribery and corruption and that of procurement fraud and kickbacks," said John Donker, a Hong Kong-based partner at PwC China who was responsible for the survey.
About 39 percent of mainland respondents who said they were crime victims said they had experienced bribery and corruption, and 41 percent predicted that it would increase.
Respondents in the mainland said they were five times more likely to be asked to pay a bribe than respondents in Hong Kong and one-and-a-half times likelier than regional and global averages.
Their concern about bribery and corruption were said to stem partly from the ongoing anti-corruption drive on the mainland, which has resulted in disciplinary measures against officials nationwide and involved multinational corporations and their foreign executives. "We have already seen China government's increasing efforts to address this," Donker said.
Procurement fraud was identified by mainland respondents as one of the most frequently experienced economic crimes, with 48 percent of respondents suffering economic crimes saying they encountered it mainly during stages of vendor selection, contracting and bidding process. The figure was significantly higher than the global result of 29 percent.
The survey also showed that in almost four out of every five economic crimes reported in the Chinese mainland, the perpetrator was identified as someone inside the company and that 28 percent of these perpetrators were under the age of 30.
"The prevalence of internal economic crime themes suggests that many organizations in China need to continue to focus effort on implementing and enforcing internal controls," Donker said.
"They need to address a lack of organizational transparency and ensure that they monitor suppliers and employee relationships."
The data-dependent businesses in Hong Kong, combined with the rapid growth of social media, underscore the growing threat posed by cybercrime. In Hong Kong and Macao, 37 percent of respondents said they had been victimized by cybercrime.
In addition, 99 percent of respondents said that the risk of cybercrime has remained at a steady level or increased.
"Ultimately, cybercrime is not strictly a technology problem but a strategy problem, a people problem and a process problem," said Ramesh Moosa, a partner at PwC China.
"Organizations are not being attacked by computers but by people attempting to exploit human frailty as much as technical vulnerability," he pointed out.
The survey also found that 37 percent of Hong Kong and Macao respondents had encountered money laundering, three times more than regional and global averages.
"The concentration of financial services businesses in Hong Kong and risks faced by Macao's large gaming sector, combined with increased local and global regulatory activity, makes this a significant area of future focus," said Donker.
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ecns
Asset theft is top economic crime in China
http://www.ecns.cn/business/2014/02-28/102713.shtml
Feb 27th 2014, 22:47
2014-02-28 07:47
China's economic crime rate may be lower than that of the world, but many companies in the Chinese mainland are extremely concerned about bribery, corruption and procurement fraud, according to a PwC survey released on Thursday.
The analysis is based on responses from more than 5,000 executives from 95 countries and regions, including 85 in the Chinese mainland and 116 in Hong Kong and Macao, and given during the past 24 months.
The report said 27 percent of mainland respondents and 16 percent from Hong Kong and Macao said they had been victims of economic crime, compared with 37 percent globally and 32 percent in Asia Pacific.
But a reduced capability among mainland-based organizations to detect economic crime could partly explain the results.
Asset misappropriation in China was the largest type of fraud reported, which was in line with global results.
In the mainland, procurement fraud came second, as reported by respondents who said their organizations had suffered economic crime.
It was closely followed by bribery and corruption in the mainland, and money laundering and cybercrime in Hong Kong and Macao.
"Two recurring themes featured heavily in the Chinese mainland within the survey: concern about bribery and corruption and that of procurement fraud and kickbacks," said John Donker, a Hong Kong-based partner at PwC China who was responsible for the survey.
About 39 percent of mainland respondents who said they were crime victims said they had experienced bribery and corruption, and 41 percent predicted that it would increase.
Respondents in the mainland said they were five times more likely to be asked to pay a bribe than respondents in Hong Kong and one-and-a-half times likelier than regional and global averages.
Their concern about bribery and corruption were said to stem partly from the ongoing anti-corruption drive on the mainland, which has resulted in disciplinary measures against officials nationwide and involved multinational corporations and their foreign executives. "We have already seen China government's increasing efforts to address this," Donker said.
Procurement fraud was identified by mainland respondents as one of the most frequently experienced economic crimes, with 48 percent of respondents suffering economic crimes saying they encountered it mainly during stages of vendor selection, contracting and bidding process. The figure was significantly higher than the global result of 29 percent.
The survey also showed that in almost four out of every five economic crimes reported in the Chinese mainland, the perpetrator was identified as someone inside the company and that 28 percent of these perpetrators were under the age of 30.
"The prevalence of internal economic crime themes suggests that many organizations in China need to continue to focus effort on implementing and enforcing internal controls," Donker said.
"They need to address a lack of organizational transparency and ensure that they monitor suppliers and employee relationships."
The data-dependent businesses in Hong Kong, combined with the rapid growth of social media, underscore the growing threat posed by cybercrime. In Hong Kong and Macao, 37 percent of respondents said they had been victimized by cybercrime.
In addition, 99 percent of respondents said that the risk of cybercrime has remained at a steady level or increased.
"Ultimately, cybercrime is not strictly a technology problem but a strategy problem, a people problem and a process problem," said Ramesh Moosa, a partner at PwC China.
"Organizations are not being attacked by computers but by people attempting to exploit human frailty as much as technical vulnerability," he pointed out.
The survey also found that 37 percent of Hong Kong and Macao respondents had encountered money laundering, three times more than regional and global averages.
"The concentration of financial services businesses in Hong Kong and risks faced by Macao's large gaming sector, combined with increased local and global regulatory activity, makes this a significant area of future focus," said Donker.
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ecns [expanded by feedex.net]: Alibaba to help build 'smart city'
ecns [expanded by feedex.net]
ecns
Alibaba to help build 'smart city'
http://www.ecns.cn/business/2014/02-28/102716.shtml
Feb 27th 2014, 22:56
2014-02-28 07:56
Chinese e-commerce giant Alibaba Group plans to pour $820 million into helping build a "smart city" with advanced computing facilities on China's southernmost island province of Hainan.
With Hainan designated to pilot the scheme, Alibaba on Thursday signed an agreement with the administrative committee charged with developing the tourism-focused island toward a mode based on big data and cloud computing.
"Basically, when tourists come to Hainan a few years from now, they need only bring their cell phones with them and they can travel worry-free around the island," said Alibaba chairman Jack Ma.
The smart cities concept was created by IBM. It promotes the use of new technologies to allow users to control objects through cloud computing and boost information sharing and coordination within an urban area.
"Alibaba has developed the world's largest e-commerce platform and largest third-party online payment platform since it was founded 15 years ago. It's also a cloud-counting platform under safe and high-speed operation, which are the basic requirements for building a smart city here," said Ma.
The facility will serve enterprises, cover all the aspects of living, and can also be applied to improve public services, according to the tech chief.
Beside the technical part, Alibaba's investment will also be used to establish an e-commerce college and develop the cultural creativity industry, he said.
China launched a smart city program in 2012, with over 130 cities selected as pilots, as a part of the country's efforts to explore ways to foster a new type of urbanization.
It is expected to generate changes in fields ranging from transportation to the financial sector. With the help of data analysis, for instance, cities will be able to calculate traffic and make rational transportation routes to ease gridlock.
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ecns
Alibaba to help build 'smart city'
http://www.ecns.cn/business/2014/02-28/102716.shtml
Feb 27th 2014, 22:56
2014-02-28 07:56
Chinese e-commerce giant Alibaba Group plans to pour $820 million into helping build a "smart city" with advanced computing facilities on China's southernmost island province of Hainan.
With Hainan designated to pilot the scheme, Alibaba on Thursday signed an agreement with the administrative committee charged with developing the tourism-focused island toward a mode based on big data and cloud computing.
"Basically, when tourists come to Hainan a few years from now, they need only bring their cell phones with them and they can travel worry-free around the island," said Alibaba chairman Jack Ma.
The smart cities concept was created by IBM. It promotes the use of new technologies to allow users to control objects through cloud computing and boost information sharing and coordination within an urban area.
"Alibaba has developed the world's largest e-commerce platform and largest third-party online payment platform since it was founded 15 years ago. It's also a cloud-counting platform under safe and high-speed operation, which are the basic requirements for building a smart city here," said Ma.
The facility will serve enterprises, cover all the aspects of living, and can also be applied to improve public services, according to the tech chief.
Beside the technical part, Alibaba's investment will also be used to establish an e-commerce college and develop the cultural creativity industry, he said.
China launched a smart city program in 2012, with over 130 cities selected as pilots, as a part of the country's efforts to explore ways to foster a new type of urbanization.
It is expected to generate changes in fields ranging from transportation to the financial sector. With the help of data analysis, for instance, cities will be able to calculate traffic and make rational transportation routes to ease gridlock.
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ecns [expanded by feedex.net]: China's reported antitrust cases up 8 pct
ecns [expanded by feedex.net]
ecns
China's reported antitrust cases up 8 pct
http://www.ecns.cn/business/2014/02-28/102717.shtml
Feb 27th 2014, 22:58
2014-02-28 07:58
China's Ministry of Commerce (MOC) received 224 antitrust cases in 2013, up 8 percent from a year ago, a ministry official said on Thursday.
Shang Ming, chief of the anti-monopoly bureau under the MOC, said of the total, 212 cases were registered and 207 were concluded last year, up 12.8 percent and 26 percent respectively.
Since the anti-monopoly law was implemented in 2008, the ministry had concluded 740 antitrust cases out of 866 by the end of 2013, according to the MOC data.
Shang added that further improvements of the anti-monopoly law are necessary, while enhancing law enforcement and international anti-monopoly cooperation will better help Chinese enterprises establish global businesses.
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ecns
China's reported antitrust cases up 8 pct
http://www.ecns.cn/business/2014/02-28/102717.shtml
Feb 27th 2014, 22:58
2014-02-28 07:58
China's Ministry of Commerce (MOC) received 224 antitrust cases in 2013, up 8 percent from a year ago, a ministry official said on Thursday.
Shang Ming, chief of the anti-monopoly bureau under the MOC, said of the total, 212 cases were registered and 207 were concluded last year, up 12.8 percent and 26 percent respectively.
Since the anti-monopoly law was implemented in 2008, the ministry had concluded 740 antitrust cases out of 866 by the end of 2013, according to the MOC data.
Shang added that further improvements of the anti-monopoly law are necessary, while enhancing law enforcement and international anti-monopoly cooperation will better help Chinese enterprises establish global businesses.
ShareX
QQ Miniblog
bSync
Sina Miniblog
Qzone
Sohu Miniblog
Xinhua Miniblog
Shou Ji
Netease MB
Kaixin001
Douban
phone fast transmit
Renren
Tianya
IFeng MB
QQ Friends
QQ friend
More... (133)
bShare
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ecns [expanded by feedex.net]: Huawei appoints Kenya CEO to spur ICT services
ecns [expanded by feedex.net]
ecns
Huawei appoints Kenya CEO to spur ICT services
http://www.ecns.cn/business/2014/02-28/102715.shtml
Feb 27th 2014, 22:53
2014-02-28 07:53
Chinese firm Huawei has announced the appointment of Dean Yu as the new CEO for Kenya to help speed up the usage of Information and Communication Technology (ICT) services in the country.
A statement from Huawei Kenya said on Thursday that Dean will now be responsible for day-to-day business operations and thus create greater opportunities to share the latest technology Huawei has to offer for the local market.
"Part of the new CEO's mandate will be to ensure that Huawei delivers ICT products and solutions to telecommunication operators, enterprises and end-users in Kenya," the firm said.
The change of guard comes at a time when the East African nation is emphasizing the use of ICT in the development agenda towards transforming the country in its quest to achieve Vision 2030 goals.
During his take-over, Dean pledged to stay committed to be a long-term investor in the Kenyan market through strengthening crucial partnerships with local vendors and operators.
"Kenya's ICT industry is set to experience exponential growth. It's therefore an exciting time for me to spearhead our business efforts here for greater value," Dean said.
The new CEO is also keen on creating job opportunities, enabling knowledge transfer, supporting local innovation and nurturing local talent.
"It's our belief that our continuous innovative, customized, affordable and value-added products and solutions will impact the development agenda of this country by powering and accelerating economic growth," Dean said.
With more than 12 years in the telecommunication industry, Dean is set to drive the company's three core business sectors: Carrier, Enterprise and Consumer to the local market.
Carrier network, which provides connectivity and broadband, is so far the company's core business. The business group (carrier) accounts for 70 percent of total revenue, majorly serving mobile phone firm, Safaricom Limited and Telkom/Orange.
Under his tenure, Dean intends to aggressively focus on the enterprise and consumer market segments with products and services targeting the national and county government as well as end users.
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ecns
Huawei appoints Kenya CEO to spur ICT services
http://www.ecns.cn/business/2014/02-28/102715.shtml
Feb 27th 2014, 22:53
2014-02-28 07:53
Chinese firm Huawei has announced the appointment of Dean Yu as the new CEO for Kenya to help speed up the usage of Information and Communication Technology (ICT) services in the country.
A statement from Huawei Kenya said on Thursday that Dean will now be responsible for day-to-day business operations and thus create greater opportunities to share the latest technology Huawei has to offer for the local market.
"Part of the new CEO's mandate will be to ensure that Huawei delivers ICT products and solutions to telecommunication operators, enterprises and end-users in Kenya," the firm said.
The change of guard comes at a time when the East African nation is emphasizing the use of ICT in the development agenda towards transforming the country in its quest to achieve Vision 2030 goals.
During his take-over, Dean pledged to stay committed to be a long-term investor in the Kenyan market through strengthening crucial partnerships with local vendors and operators.
"Kenya's ICT industry is set to experience exponential growth. It's therefore an exciting time for me to spearhead our business efforts here for greater value," Dean said.
The new CEO is also keen on creating job opportunities, enabling knowledge transfer, supporting local innovation and nurturing local talent.
"It's our belief that our continuous innovative, customized, affordable and value-added products and solutions will impact the development agenda of this country by powering and accelerating economic growth," Dean said.
With more than 12 years in the telecommunication industry, Dean is set to drive the company's three core business sectors: Carrier, Enterprise and Consumer to the local market.
Carrier network, which provides connectivity and broadband, is so far the company's core business. The business group (carrier) accounts for 70 percent of total revenue, majorly serving mobile phone firm, Safaricom Limited and Telkom/Orange.
Under his tenure, Dean intends to aggressively focus on the enterprise and consumer market segments with products and services targeting the national and county government as well as end users.
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ecns [expanded by feedex.net]: Five dead in SW China’s bus fire
ecns [expanded by feedex.net]
ecns
Five dead in SW China's bus fire
http://www.ecns.cn/visual/hd/2014/02-27/33855.shtml#nextpage
Feb 27th 2014, 07:56
2014-02-27 16:15 Web Editor:Gu Liping
A fire breaks out in a bus in Guiyang, southwest China's Guizhou province on Thursday afternoon, February 27, 2014. Five people were killed in the fire, local fire fighters told Xinhua. Investigation into the cause of the fire is under way. [Photo: IC]
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ecns
Five dead in SW China's bus fire
http://www.ecns.cn/visual/hd/2014/02-27/33855.shtml#nextpage
Feb 27th 2014, 07:56
2014-02-27 16:15 Web Editor:Gu Liping
A fire breaks out in a bus in Guiyang, southwest China's Guizhou province on Thursday afternoon, February 27, 2014. Five people were killed in the fire, local fire fighters told Xinhua. Investigation into the cause of the fire is under way. [Photo: IC]
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ecns [expanded by feedex.net]: Crossbow with string first found at Terracotta Warriors site
ecns [expanded by feedex.net]
ecns
Crossbow with string first found at Terracotta Warriors site
http://www.ecns.cn/cns-wire/2014/02-27/102709.shtml
Feb 27th 2014, 07:58
2014-02-27 16:58 Web Editor: Si Huan
(Photo source: chinanews.com)
Xi'an (CNS) � A relatively complete crossbow with bowstring has been excavated from Pit One of the Terracotta Warriors site, making it the first time that archaeologists have discovered a clearly visible bowstring.
Pit One has been in its third excavation since June 2009, after a 20-year suspension.
The bowstring, 0.8 centimeters in diameter, might be made with a tendon of some animal, according to the Emperor Qinshihuang's Mausoleum Site Museum on Feb 26.
Shen Maosheng, chief archeologist in charge of Pit One, said an intact arrow was also discovered in the pit, and a colored drawing on it still can be recognized.
Experts believe a copy of the crossbow can be restored on the base of these findings, and the range of the crossbow can be estimated as well, which is an important factor to evaluate the military power of the Qin Dynasty.
On June 9, 2012, archeologists released some 310 pieces of findings from their third excavation of Pit One.
About 600 pits and tombs have been discovered in the area of Emperor Qinshihuang's Mausoleum Site so far.
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ecns
Crossbow with string first found at Terracotta Warriors site
http://www.ecns.cn/cns-wire/2014/02-27/102709.shtml
Feb 27th 2014, 07:58
2014-02-27 16:58 Web Editor: Si Huan
(Photo source: chinanews.com)
Xi'an (CNS) � A relatively complete crossbow with bowstring has been excavated from Pit One of the Terracotta Warriors site, making it the first time that archaeologists have discovered a clearly visible bowstring.
Pit One has been in its third excavation since June 2009, after a 20-year suspension.
The bowstring, 0.8 centimeters in diameter, might be made with a tendon of some animal, according to the Emperor Qinshihuang's Mausoleum Site Museum on Feb 26.
Shen Maosheng, chief archeologist in charge of Pit One, said an intact arrow was also discovered in the pit, and a colored drawing on it still can be recognized.
Experts believe a copy of the crossbow can be restored on the base of these findings, and the range of the crossbow can be estimated as well, which is an important factor to evaluate the military power of the Qin Dynasty.
On June 9, 2012, archeologists released some 310 pieces of findings from their third excavation of Pit One.
About 600 pits and tombs have been discovered in the area of Emperor Qinshihuang's Mausoleum Site so far.
0)
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