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Hongyun Group and Honghe Group, two of Yunnan province's largest tobacco companies intend to merge, a move that will form China's largest and the world's fourth-largest cigarette producer by volume, according to Chinese media reports. The planned merger, which is still awaiting regulatory approval, suggests a move towards consolidation in China's highly fragmented tobacco industry. China is the world's largest producer and consumer of cigarettes, with a market of more than 300 million smokers, a market that is still growing. If the merger goes through, the new company is expected to be the world's fourth-largest cigarette producer after Philip Morris International, British American Tobacco and Japan Tobacco Inc. Yet in terms of revenue, the two companies' combined 2007 revenues are less than 30 percent of the revenue of current number four Imperial Tobacco Plc, partially because cigarettes in China are some of the cheapest in the world. According to their websites, in 2007 Hongyun Group posted 29 billion yuan (US$4.2 billion) in revenue and Honghe took 16 billion yuan. The proposed company would be named Hongyun Honghe Tobacco Group Company Limited (红云红河烟草集团有限责任公司) and would have production facilities in Kunming, Qujing, Honghe, Zhaotong, Huize in Yunnan province, plus facilities in Xinjiang. After the merger, the company would produce several of China's larger cigarette brands, including Yunyan, Honghe, Hongshancha, Shilin and Lesser Panda. Related article: Kunming: Bong city, PRC Tags: business, health, Honghe, Honghe Group, Hongshancha, Hongyun Group, Lesser Panda, Shilin, tobacco, Yunyan Yunnan coffee producer aims to raise funds with listingThursday, 3rd July 2008 ~ Chris ~ Link ~ Comments (0)
Yunnan Dehong Hougu Coffee (云南德宏后谷咖啡有限公司) is aiming to expand from its current status as a coffee supplier to a major Chinese coffee brand over the next three years. The company announced on Tuesday that it intends to become China's first listed coffee producer by 2011, according to a Reuters report. The company, which is reportedly restructuring itself and hiring accountants and lawyers for its listing, is best known for being a supplier to Nestle, but in recent years its own branded products have been appearing around Yunnan. Hougu instant coffee vending machines selling brewed coffee and cappuccinos can be found throughout Kunming. "We're transforming from a coffee grower to a branded coffee maker and seller," Reuters quoted Hougu Vice President Deng Gang as saying. "Nestle is still our client and we're still too small to compete with it." Hougu said it hopes to raise 3 billion yuan (US$437 million) by going public, which it intends to use for expansion. Although China's coffee market is small on a per capita basis, it is growing around 20 percent yearly, according to Starbucks, which announced that it would begin sourcing coffee beans from Yunnan in September of last year. Yunnan is China's largest coffee producing region – its coffee beans have been a favorite of locals and travelers in the province for years, but the outside world is only just starting to wake up to its unique flavor and market potential. Image: www.ynbrd.yn.gov.cn Related article: Starbucks warming up to Yunnan coffee Tags: business, food & drink, Hougu Coffee, IPOs, Nestle, Starbucks, Yunnan coffee Yunnan Airlines to challenge China Eastern for market shareWednesday, 11th June 2008 ~ Chris ~ Link ~ Comments (0)
The Yunnan provincial government and Grand China Air – which is partially owned by billionaire financier George Soros – have agreed to establish Yunnan Airlines, a joint venture airline that will challenge China Eastern Airlines' dominance of the Yunnan air travel market, according to a Reuters report. The announcement comes at a time when air travel in Yunnan and elsewhere in southwest China is expected to continue its rapid growth and Kunming is building what will be one of China's largest airports. The news also came shortly after state regulatory body the Civil Aviation Administration of China (CAAC) stripped Shanghai-based China Eastern of several air routes in Yunnan – including flights to Dali and Xishuangbanna – after an apparent mid-air strike by pilots in March of this year. The company is still awaiting regulatory approval from the central government - which is likely, given that a provincial government will be a stakeholder in the company. Despite the potential conflict of interest, the Yunnan government released a statement in which it said that in addition to Yunnan Airlines' plans to establish its hub in Kunming it hopes that other airlines including China Eastern's Yunnan subsidiary will further develop their operations in Kunming, according to a Xinhua report. Xinhua is reporting that Yunnan Airlines will start out with a fleet of at least 30 planes. Image: Xinhua Related articles: China Eastern loses Xishuangbanna, Dali routes China Eastern fires Yunnan management over pilot demonstration China Eastern officials, pilots meet after Kunming protest Tags: aviation, business, CAAC, China Eastern Airlines, transportation, Yunnan Airlines China's Ministry of Commerce to participate in Kunming FairWednesday, 28th May 2008 ~ Chris ~ Link ~ Comments (0)
The 16th annual Kunming International Import and Export Commodities Fair - aka the Kunming Fair (昆交会) - will take place again this year at the Kunming International Convention and Exhibition Center (昆明国际会展中心) from June 6 to June 10. The Kunming Fair is a regional trade fair jointly sponsored by the governments of Sichuan, Yunnan, Guizhou, Guangxi, Tibet, Chongqing and Chengdu. Last year's Kunming Fair saw 162 companies exhibit their products and more than US$158.5 million in completed deals over five days. The total reported value of contracts and agreements signed at the event exceeded 68.1 billion yuan (US$8.9 billion). According to Kunming media reports, this year China's Ministry of Commerce will participate in hosting the fair for the first time with the stated goal of increasing the scale and quality of the fair. Yunnan Commerce Bureau Director Sun Xiaohong (孙小虹) said this year the fair will feature 2,318 exhibits, adding that 2,148 exhibitors were already confirmed for the event. Sun said that exhibits by Burmese and Sichuanese enterprises will be slightly fewer in number than last year due to the recent Myanmar cyclone and Wenchuan earthquake, respectively. Under orders from Chinese Premier Wen Jiabao, the Kunming Fair will include a "Greater Mekong Subregion Economic Corridor Forum" (GMS经济走廊论坛) for the first time. The Greater Mekong Subregion (GMS) includes Yunnan Province, Myanmar, Laos, Thailand, Vietnam and Cambodia. For the third consecutive year the fair will also feature a 'China-South Asia Commerce Forum',(中国-南亚商务论坛) as well as the clumsily named 'ASEAN Chinese Business Investment Southwest Promotion Meeting and Asia-Pacific Chinese Business Forum' (东盟华商投资西南项目推介会 暨亚太华商论坛). A preview of some of the products on offer can be found on the fair's official website. The website also features other information of less obvious value, including 'Britney Spears loses custody of children', 'Goal-driven achievers less prone to Alzheimers' and 'Abdul says she's straight up ready for a baby'. The Kunming Fair runs from Friday, June 6 through Tuesday, June 10 from 8 am to 6 pm. GoKunming called the fair's office, which told us the admission fee had yet to be announced (last year tickets to the fair cost 30 yuan/day). For more information, call the fair at (0871) 6269886 or 3155519. Image: finance.sina.com Related articles: Yunnan-ASEAN trade continues to boom Kunming hosting Asia-Pacific trade meeting Kunming Fair breaks US$150 million mark GMS agreement to facilitate regional transport Tags: ASEAN, Britney Spears, business, Chengdu, Chongqing, foreign trade, GMS, Guangxi, Guizhou, Kunming Fair, Kunming International Convention and Exhibition Ce, Ministry of Commerce, Myanmar Cyclone, Paula Abdul, Sichuan, South Asia, Southeast Asia, Sun Xiaohong, Tibet, Wenchuan earthquake Kunming 2007 economic stats released: GDP up 12.5%Monday, 4th February 2008 ~ Chris ~ Link ~ Comments (1)Here are some of the more noteworthy numbers: • Gross domestic product (GDP) for Kunming during 2007 totaled 139.3 billion yuan – more than US$19.3 billion – an increase of 12.5 percent over the city's GDP in 2006. • Consumer prices rose significantly, with the city's consumer price index (CPI) – a measure of price change among a basket of several common consumer goods – rising 5.8 percent over the year. • Food prices exhibited the sharpest price increase, jumping an average of 13.9 percent from January to December. • Fixed asset investment in Kunming last year totaled 81.8 billion yuan, an increase of 25% over 2006. • Investment in the city's booming real estate sector reached nearly 22.2 billion yuan, a year-on-year increase of 21.1 percent. • Retail sales in Kunming were up 17.6 percent in 2007, swelling to 56.9 billion yuan. • Per capita disposable income within Kunming's urban areas grew to 12,083 yuan, up 6.1 percent over 2006. • Kunming's rural net income was up 7.1 percent, with the average farmer outside of the city earning 4,003 yuan last year. • Tourist visits to Kunming increased by 12 percent, with more than 25 million visits to the city in 2007. • Kunming's total revenue from tourism in 2007 was 16.8 billion yuan, an increase of 8.0 percent over 2006. • Domestic tourist visits to Kunming grew 12.4 percent last year, totaling 24.3 million visits. • Kunming recorded 713,400 visits by foreign travelers, up only 0.8 percent over 2006. Related articles: China releases 2007 economic data:GDP up 11.4% Yunnan food prices increasing Kunming economy racks up strong first half growth Tags: business, CPI, disposable income, GDP, income, investment, Kunming economy, real estate, tourism China releases 2007 economic data: GDP up 11.4%Thursday, 24th January 2008 ~ Chris ~ Link ~ Comments (0)Currently the world's fourth-largest economy after the United States, Japan and Germany, China recorded a GDP of more than 24.6 trillion yuan (US$3.4 trillion) last year, according to initial NBS calculations. In other statistics of note, fixed asset investment – fuelled by a nationwide real estate boom – was up 24.8 percent, totaling 13.7 trillion yuan. Consumption continued to climb, with national retail sales for the year reaching 8.9 trillion yuan, up 16.8 percent over 2006. China's total trade with the rest of the world increased 23.5 percent last year, swelling to more than US$2.17 trillion. Exports from China totaled US$1.21 trillion, a jump of 25.7 percent year-on-year, while the value of imports for the year exceeded US$955 billion, up 20.8 percent. Last year the rise of the Chinese consumer continued, with per capita disposable income up 17.2 percent, reaching 13,786 yuan (US$1,907). As disposable income grew, however, so did the price of goods in the marketplace. According to NBS statistics, China's consumer price index (CPI) – a measure of the price of a basket of everyday consumer goods – increased by 4.8 percent. Yunnan province saw the price of goods go up faster than the rest of the country, with the provincial CPI increasing 5.9 percent over 2006. NBS chief Xie Fuzhan (谢伏瞻) characterized China's continued rapid economic growth as "stable", but also warned of the potential for overheating. Xie also expressed concern over prices being increasingly pushed upward and "structural contradictions" in the country's economy. Related articles: Yunnan food prices increasing Kunming economy racks up strong first-half growth Dali and Kunming two of China's hottest residential property markets Interview: Navigating Kunming's property market Tags: business, Chinese economy, CPI, disposable income, foreign trade Trade in 2007 between Yunnan province and the 10 member states of the Association of Southeast Asian Nations (ASEAN) reached US$3.03 billion, up nearly 40 percent over 2006, with Vietnam replacing Myanmar as the province's top trading partner, according to a Xinhua report. Recent rapid growth of trade with ASEAN has made the region Yunnan's largest trading partner. According to Kunming customs statistics cited in the report. Yunnan's exports to the region were up 32.9 percent, reaching US$2.17 billion. Yunnan – bordered by Myanmar, Laos and Vietnam – is being groomed by the Chinese government to serve as China's gateway to ASEAN as the two emerging economic regions prepare for the China-ASEAN Free Trade Area (CAFTA), the first phase of which will launch in 2010. CAFTA will reduce and eliminate tariffs on goods moving between the two regions, with analysts expecting raw materials and natural resources to flow into China and finished products to flow out. Major road, rail and air transport infrastructure projects in Yunnan and its Southeast Asia are currently underway to further facilitate trade with ASEAN. Some of the more notable projects include a highway linking Kunming with Singapore, a rail network linking Kunming and Singapore via three trunk lines passing through Myanmar, Laos, Thailand, Vietnam, Cambodia and Malaysia, a new international airport in Kunming and a road/rail transport corridor linking Kunming with Haiphong, Vietnam – the closest seaport to Kunming. Last month the Asian Development Bank announced its largest-ever financing project, a US$1.1 billion highway project that will connect Vietnamese capital Hanoi with Yunnan. Related articles: ADB's largest-ever financing project to bring Yunnan, Vietnam closer China and ASEAN pushing toward integration Kunming to become regional rail hub China-ASEAN TV summit aims to counterbalance Western media China: More than just Shanghai and Beijing Tags: ASEAN, Asian Development Bank, business, CAFTA, foreign trade, Haiphong, Hanoi, Laos, logistics, Myanmar, Singapore, Vietnam China-ASEAN TV summit aims to counterbalance Western mediaFriday, 21st December 2007 ~ Chris ~ Link ~ Comments (0)The two-day summit began on Wednesday with speeches by government officials and television industry leaders, including Zhang Changming, Vice President of China Central Television (CCTV). Zhang's speech, "Sending the voices of the East to the world", focused on the need for Eastern media to catch up with Western media in terms of impact and influence. "One thing that cannot be denied is the imbalance between the East and West in global information flow," Zhang said before approximately 200 television professionals and government officials from China and the member states from the Association of Southeast Asian Nations (ASEAN). Zhang proposed more sharing between China and Southeast Asian countries in the fields of news reporting, documentary filmmaking and television programming and production. "We can work together to grow and become stronger," he said, "and by way of the shared platform created by Asian media, we can let the voices from the East be heard on a global stage." Other speakers included Mr Pratap Parameswaran of the ASEAN Secretariat, as well as television officials from Singapore, Malaysia, Laos, Vietnam and Myanmar. Several representatives of mainland television stations and production companies also delivered keynote addresses. Shialey Tan of Singapore-based MediaCorp's high-definition documentary production company Caldecott Productions reiterated Zhang's message of Asians producing programs about Asia for non-Asian audiences. Tan was at the summit to promote "The Asian Pitch", a contest for independent Asian filmmakers organized by Caldecott, Japanese broadcaster NHK and South Korean broadcaster KBS. "The face that Asia presents to the world should be one made by Asian media, not Western media," Tan said. This year's China-ASEAN Television Cooperation Summit is the first meeting of its kind between China and ASEAN. The summit is scheduled to be held again in 2009. Tags: ASEAN, business, Caldecott Productions, CCTV, China-ASEAN Television Cooperation Summit, KBS, Laos, Malaysia, MediaCorp, Myanmar, NHK, Pratap Parameswaran, Shialey Tan, Singapore, Vietnam, Zhang Changming Next 1 2 3 4 5 6 |
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