Permalink 09:51:29 am, by dacare, 197 words, 230 views   English (US)
Categories: News of China

Lenovo launches new tablet-laptop hybrids to revive PC market

The world's largest PC maker Lenovo launched two convertible laptops and a tablet under its Yoga line on Monday to resuscitate demand for personal computer amid growing penetration of mobile devices.

Launched in 2012, Lenovo's Yoga line of laptops were designed to work both as PC and tablet as the growing popularity of smartphones and tablets have contributed to a slowdown in PC sales.

Monday's release includes two laptops with keyboard that can be either folded or detached and a Yoga tablet.

Lenovo's CEO Yang Yuanqing said on Monday that the PC market, valued at 200 billion U.S. dollars, still has potential for growth as some of its essential features cannot be replaced by tablets and smartphones.

"I'm still optimistic about the PC market," said Yang, "there is still a lot of investment going into improving the PC's user experience and to stay relevant, manufacturers need to be committed to innovation."

Yang said though Lenovo is already the world's largest PC maker, it still wants to grow its market share.

Lenovo retains its spot as the world's third largest tablet maker with a global market share of 6.3 percent in the third quarter this year, data from IDC shows.

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Permalink 12:39:11 pm, by dacare, 234 words, 101 views   English (US)
Categories: News of China

Alibaba could be planning Hong Kong media raid

Alibaba's founder Jack Ma. Alibaba may be set to make a major foray into the media and entertainment industries.

Alibaba may be set to make a major foray into the media and entertainment industries.

After announcing on Friday it was taking over China's top online video provider in a cash deal, rumors surfaced over the weekend that the mainland-based company is "in discussions" to invest in Hong Kong-based SMCP Group Ltd, which publishes the English-language newspaper South China Morning Post.

On Sunday, a spokesman for Alibaba told China Daily the company does not comment on market rumors. The communications department at SCMP Group did not respond to an inquiry.

The rumor surfaced after SMCP announced on Friday that Wang Xiangwei, the newspaper's editor-in-chief, was stepping down and Tammy Tam, Wang's No 2 since 2012, would take over from Jan 1.

Meanwhile, Shanghai-based mobile news app The Paper reported that Alibaba is in talks to take a stake in Sina Corp, which runs online news portal sina.com.cn and Weibo, the Chinese equivalent of Twitter.

Industry observers said that since June, Alibaba has poured billions of dollars into media organizations, including online video giant Youku Tudou Inc.

Tian Hou, an analyst at TH Capital in Beijing, said Alibaba's media expansion is "very likely". Huang Guofeng, an analyst at the Internet consultancy Analysys International in Beijing, said Alibaba may have a "big vision to enter people's living rooms".

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Permalink 02:11:24 pm, by dacare, 364 words, 147 views   English (US)
Categories: News of China

Chinese textile firms look to thrive in new hot spot

Vietnam is becoming a "hot spot" for Chinese textile manufacturers when they look to build factories overseas. [Special coverage]

One of the main reasons is that apparel produced in the Southeast Asian country for the United States market will be tariff-free after last month's Trans-Pacific Partnership agreement.

Huafang Co, a textile business in Shandong province, plans to set up a high-end fabric factory in Vietnam with a 700 million yuan ($110 million) investment. This will be the company's first overseas factory.

Another 150 million yuan will be pumped into a research and development center in Vietnam to look into new technologies covering the whole industry chain, including cotton, spinning, weaving and dyeing.

Huafang, which is listed on the Shanghai Stock Exchange, is planning to issue about 120 million shares for corporate investors, with an issuing price of about 7.4 yuan per share. This will help the company raise 900 million yuan to finance its Vietnamese project.

"Before the zero-tariff policy reached by the TPP, many labor-intensive Chinese industries had already shifted to Southeast Asian countries," said Zhang Jianping, a senior researcher at the Institute for International Economic Research under the National Development and Reform Commission. "The labor costs there are four to five times cheaper than in China.

"Here, the country is undergoing an economic transformation. In China's developed coastal regions, high-tech industries are springing up to replace labor-intensive industries," he added. "The trend has been gathering pace, and the new policy will speed up the process."

Vietnam has become a major importer of fabrics and a leading exporter of clothing. But weak domestic production has left local companies struggling to cope with international demand.

That was another key factor in Huafang's decision to set up a manufacturing center in Vietnam. Now the company plans to set up two production lines, although it will take up to three years to build the plant.

Pei Chunqu, former deputy minister of trade and industry in Vietnam, said that in the past decade, the textile industry in the country has been growing slowly.

Luen Thai International Group, which is Hong Kong's largest clothing company, Sanshui Jialida TextileCo, based in Guangdong province, and Vietnam's Vinatex Co are planning to establish a textile industrial park.

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Permalink 09:32:10 am, by dacare, 186 words, 104 views   English (US)
Categories: News of China

China to deliver 50 bln express parcels by 2020: Official

China aims to deliver 50 billion express parcels annually, generating 800 billion yuan (126.3 billion U.S. dollars) in business revenue, by 2020, a postal official said Wednesday.

The target is equal to the annual sum of deliveries across the globe today, said Ma Junsheng, head of State Post Bureau in an online interview.

Total express deliveries would near 20 billion pieces with business revenue reaching 400 billion yuan in 2015, Ma said, adding that the sector has registered an annual growth rate of over 50 percent in the past five years, according to Ma.

The country plans to build an efficient and safe express delivery system with nationwide coverage, advanced technology and services and international connections by 2020, according to a policy document released last week by the State Council, China's cabinet.

Despite a slowing economy, express delivery services have grown steadily. The amount of express delivery packages has increased 8.2 times over the past six years. In the first half of 2015, express deliveries jumped by more than 43 percent year on year.

On average, each Chinese person received more than 10 parcels last year, even with only half of the country covered by the delivery network.

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Permalink 10:30:40 am, by dacare, 249 words, 98 views   English (US)
Categories: News of China

JD.com files complaint against Alibaba for 'disrupting market order'

Working staff distribute packs in an express company in Hangzhou, East China's Zhejiang province, Nov 12, 2012. The annual Single's Day which falls on Nov 11 has become a shopping festival under a continuous sales promotion of e-commerce groups.

JD.com Inc,China's second-largest e-commerce site, filed a complaint to industry authority claiming that its rival Alibaba Group Holding Ltd was "disrupting the market order".

In a complaint filed on Tuesday to the State Administration of Industry and Commerce, the Beijing-based company said Alibaba told retailers to pick a side during the upcoming Singles' Day, China's largest online shopping festival, which falls on next Wednesday.

"Alibaba conveyed a message to retailers that if they participated in its Tmall's promotion campaign on the Singles Day, they will not allowed to attend similar events held by rival sites," JD said in a statement.

Alibaba threatened to direct less traffic to retailers who were unwilling to follow its demands, JD claimed, adding "such behavior poses barriers to market competition and severely undermines consumers' interests."

In response, Alibaba said late Tuesday that let consumers decide which platforms they are willing to choose. "Market-related problems should resort to the market for solution. We will continue offering consumers quality products at lower prices," Alibaba said.

The State Administration of Industry and Commerce was not immediately available for comment.

The dispute comes as the country's e-commerce sites intensify efforts to vie for retail partners for the upcoming Singles' Day, when millions of consumers flood to websites for bargain shopping.

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Permalink 09:36:45 am, by dacare, 229 words, 94 views   English (US)
Categories: News of China

Taiwan's manufacturing index drops again

Taiwan's manufacturing industry reported sluggish figures in October, echoing the damp situation of the island's general economy.

The purchasing managers index (PMI), a key indicator for manufacturing, dropped month on month, for a fourth consecutive month, by 0.1 points from September to 46 in October, according to a monthly report from the Chung-Hua Institution for Economic Research, a local think tank.

It also remained below the 50 mark for a fourth straight month, the report said.

A PMI reading above 50 shows expansion in manufacturing activity, while a figure below 50 signals contraction.

All five indicators for the PMI -- new orders, production, inventories, employment and supplier deliveries -- showed a contraction.

Among six industrial sectors, only the sector of chemical, biochemical and medical rose above 50 to 54.1 points in October from 48.4 the previous month. The rest contracted.

Taiwan's GDP in the third quarter shrank by 1.01 percent year on year, the first reduction since the fourth quarter of 2009, when the island was affected by the global financial crisis.

Its authorities announced a package of short-term stimulus policies last week, including subsidies for the purchase of energy-efficient home appliances, for travel and for residents who replace their outdated cell phones with smartphones.

Wu Chung-shu, president of the Chung-Hua Institution, suggested that the island should work out long-term policies to cope with the challenges causing economic slowdown, such as the aging labor force and declining fiscal revenue.

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