Page. The purpose of collecting these data is to understand market conditions, pay attention to relevant laws, and seize opportunities for pioneering the use of the market. The contents of this information are only for internal reference of the PCG law firm. Recently, the Nansha planning state-level New Area signed 10 projects embracing a total investment of ten billion yuan. Yesterday, the Guangdong Provincial Government held an on-site meeting for the development and construction of the Nansha District. The Nansha District Planning Scheme aims to create architectural splendor while simultaneously signing key projects with the Nansha District Government. A total of 10 projects were signed, involving corporate headquarters, high technology, business travel, advanced manufacturing, and other fields, with a total investment reaching 11 billion yuan.
The new concept of Nansha District highlights the Lingnan style and the Water Village. Governor Huang pointed out that the Nansha District should be planned from the height of the Pearl River Delta entering a world-class city group, constructing the coastal city's point of view, to build the new Guangzhou. Wang Yang, Secretary of the Guangdong Provincial Party Committee, said that the construction of Nansha Old Town should not merely continue the function of the Old City but rather allow new and old urban areas to complement each other in order to enhance Guangzhou’s competitiveness in the country and Guangdong Province’s competitiveness in the world.
Make Nansha develop as one of Guangzhou’s projects. Guangdong Nansha District proposed playing the most internationally competitive region of the Pearl River Delta and the country. After 10 years of development and construction, Guangzhou Nansha District has begun to take shape as a high-level Port Economic Development Zone and a livable modern coastal city. Guangdong proposed that Nansha District should strive to become the most internationally competitive region in the Pearl River Delta and the country. Guangdong Provincial Party Secretary Wang Yang said as early as April 2002, Guangdong had opened the prelude to the Nansha development and construction. After 10 years of efforts, the development of Nansha District has made significant stage results.
The development of Nansha District, for Guangzhou itself, is an important strategic point to create a national central city. From the province's development perspective, the development of Nansha District is leveraging an important lever in the Pearl River Delta region and even the province’s transformation and upgrading. From the unique geographical advantages point of view, the development of Nansha District is to deepen the cooperation between Guangdong and serve as a bridgehead. From the integration into international participation in global competition point of view, the development of Nansha District is an important channel for developing a new pattern of an open economy.
Ocean, Nansha District should strive to become the most competitive region in the Pearl River Delta and the country. The development of Nansha District should adhere to government guidance and market operation to focus on planning, infrastructure, and legal environment construction. Do scientific planning, highlight people-oriented, livable priority; correctly handle the relationship between Metro and Old Town in Nansha, Nansha and Hengqin, before the sea, Nansha Islands and surrounding regions and cities, Nansha and Hong Kong, Macao-China relations; proactively do advanced service-oriented industrial development planning.
It is reported that the Nansha District recently held a joint signing ceremony for key projects, involving 10 projects in corporate headquarters, high technology, business travel, advanced manufacturing, and other areas with a total investment of $11 billion. Hong Kong-funded projects include Chu Kong Shipping smart headquarters operations center in Mainland China, Hong Kong Bo Group, Hong Kong and Guangdong (Guangzhou Nansha) Science & Technology Park, Lai Fung, Hong Kong Aotelaisi integrated projects.
Two, HSBC: China may become the world’s largest trade country by 2025 or earlier. HSBC said on the 11th that according to its quarterly report on HSBC Trade Forecast, data show that China is ready to go, possibly surpassing the U.S. by 2025 or earlier, becoming the largest country in world trade, accounting for 13% of world trade. The study pointed out that China is expected to see a 146% increase in trade by the end of 2025. Until 2015, China's trade growth rate is expected to be about four times faster than the global trade growth rate. Another survey conducted by international traders shows that despite the confidence index of Chinese traders falling to a neutral level compared to six months ago, nearly 80 percent of China's import and export suppliers expect trade volume to remain stable or rise further.
HSBC Trade forecast information indicates that Hong Kong is the major entrepot for trade between Mainland China and around the world, ensuring that Hong Kong will maintain its existing share in global trade (2.9%) higher than the United Kingdom, Korea, and Singapore by 2025.
Unchanged or upward, Chen Liang, responsible for global trade at HSBC Commercial Banking in Hong Kong, stated that global trade will see steady growth in the next few years. Hong Kong and Mainland China are in an excellent location and can surely benefit from it. Despite short-term uncertainties shaking confidence, Asia will continue to be the driving force behind the growth of trade in the long run. HSBC surveys show that despite the current economic situation being uncertain, global trade is still expected to increase by 73% by 2025, and cross-border trade activities will continue to grow between now and 2015, with an average annual increase of nearly $1 trillion.
Three, more than 60 percent of Ningbo enterprises' overseas investments are settled in Hong Kong. It was learned from the meeting that Hong Kong has become the first choice for Ningbo enterprises' overseas investments this year. In the first nine months, 65% of Ningbo enterprises’ overseas investments were in Hong Kong, and this scale of investment is showing an upward trend. Li Xinhua, Vice Secretary of Ningbo Foreign Trade and Economic Cooperation Bureau, said that the government would provide services to companies going overseas and resolve any difficulties or problems they encounter. The Investment Promotion Department of the Hong Kong Special Administrative Region Government held an international symposium in Ningbo based in Hong Kong, attended by over 120 representatives from local Ningbo enterprises. Tang, Assistant Director of the Hong Kong SAR Government Investment Promotion Department, discussed Hong Kong’s business environment and opportunities for development for Ningbo logistics and shipping companies in Hong Kong. She pointed out that the shipping business has established a solid foundation but also continues to adapt to global trends and optimize related supporting services. As a world city, Hong Kong has a perfect system of modern service industries closely connected with finance, insurance, accounting, and legal aspects. During his visit in August this year, Vice Premier Li Keqiang emphasized the advantages enjoyed by Hong Kong’s modern service industry, helping Mainland enterprises expand overseas markets and join hands with Hong Kong enterprises. Li Xinhua, Deputy Secretary of Ningbo Foreign Trade and Economic Cooperation Bureau, said that in recent years, Hong Kong has become the first choice for Ningbo enterprises to invest overseas. Data shows that Ningbo enterprises' investments in Hong Kong account for 50% of the city's overseas investments. From January to September 2011, Ningbo enterprises achieved $1 billion in foreign investments, including $650 million invested in Hong Kong, with this growth trend continuing.
Enterprises investing in Hong Kong generally choose direct development locally or use Hong Kong as a springboard to go international, especially for logistics-related businesses. In recent years, resource acquisition enterprises have adopted this method more commonly. Li Xinhua said that the government would provide full support to enterprises going overseas.
Hand in hand, Russia's largest petrochemical company Sinopec will establish two new joint venture companies. Sinopec announced last evening during Russian Federation Prime Minister Vladimir Putin's official visit to China that Sinopec and Russia's largest petrochemical holding company Xi Buer will explore the establishment of two joint ventures to produce nitrile rubber companies in Krasnoyarsk City, Russia, and Shanghai, China, expanding cooperation and signing a memorandum of cooperation. The two sides also considered cooperation in the field of isoprene rubber and other areas, including raw material supply for the natural gas chemical industry and unconventional oil and gas resources in Russia and China, agreeing to explore comprehensive cooperation in upstream and downstream integration. This joint venture will utilize Xi Buer's polymer technology. The nitrile rubber plant in Russia will expand from 41,000 tons/year to 5.6 million tons/year, and Shanghai will build a 50,000 t/year acrylonitrile-butadiene rubber facility.
For cooperation and development, Sinopec said that the two joint ventures will further strengthen the good cooperative relationship between the Chinese petrochemicals and Xi Buer. Expanding production capacity is an important measure to meet China's rapidly growing market demand. Advanced technology for synthetic rubber production through cooperation with Xi Buer will serve the needs of the industry's growth in China. Sinopec is the first in Asia and the second-largest oil refinery manufacturer in the world, the fourth-largest ethylene producer globally. Core assets to Sinopec Corporation ranked fifth among the 2011 Fortune 500. In 2010, sales revenue exceeded 1.9 trillion yuan (about $273 billion). Xi Buer is the largest petrochemical company in Russia and Eastern Europe, with its production chain including natural gas processing, monomers, plastics, rubber, mineral fertilizers, tires, and industrial rubber products, as well as plastic processing. In 2010, Xi Buer's operating income was 239 billion rubles (more than $7.5 billion).
Five, Rushan invests 2 billion yuan to build maritime safety and food industry park. In Shandong Province, Rushan City is building a maritime safety and food industrial park. The park has settled four maritime safety food production and processing projects with a total investment of 500 million yuan, including Good Masters, Rong good food, David Peng, and Japan pills water corporation triploid breeding and processing projects. On October 8, Wang Xuefeng, the person in charge of the Rushan Rong food project, said the project involves an investment of 100 million yuan, with a total construction area of 24,000 square meters, mainly producing and exporting oyster farming, processing, and oyster products.
The marine Rushan safe food industrial park sets a high threshold for settling projects: low-tech, high energy consumption, and high pollution projects are refrained from; long industrial chains, high utilization of resource recycling, large investment projects are indeed right financing, recruitment, and employment, providing research and production comprehensively. The park located in Alex town has also invested more than 500 million yuan in high-standard configurations for park roads, electricity, piping, and laying 5300 meters of seawater piping, introducing clean underground water to the Industrial Park. Saving half the cost of water not only ensures the safety of marine food processing enterprises but also improves seafood holding conditions, enhancing freshness. This is the most characteristic configuration of the industrial park.
Rushan maritime safety food industrial park has been assigned to 26 enterprises, including Hualong (Rushan) Food and Hong-peng food, with a total investment of 2 billion yuan. Among them, like Good Masters, there are over 8 projects with investments exceeding tens of millions of yuan, totaling more than 4 billion yuan. Enterprise products are exported to more than 30 countries and regions, including Japan, Russia, Canada, Germany, etc.
Six, Hong Kong Jewelry significantly benefits from Chinese mainland economic development in recent years. Rapid economic development and rapid growth in consumption have led to a more ardent demand for luxury goods on the Mainland. Mainland consumer demand for jewelry continues unabated, even though goldsmith material prices are rising sharply. However, the huge Mainland market, and consumers in each city have different characteristics of consumption, so we cannot generalize.
As early as 2002, 2004, and 2007, the Hong Kong Trade Development Council conducted surveys on jewelry consumption among residents of mainland cities. Understanding the latest jewelry consumption patterns on the Mainland and Hong Kong brand recommendations. TDC's Assistant Chief Economist Daniel Poon said that several surveys found that mainland consumers generally have some knowledge of Hong Kong jewelry brands. Hong Kong brands represent quality assurance, fashion, and taste in the minds of many mainland consumers. Hong Kong companies should take advantage of this good reputation and explore the potential of the jewelry market on the Mainland.
A survey conducted in May 2011 in 10 mainland cities, including Shanghai, Hangzhou, Nanjing, Beijing, Dalian, Shenyang, Wuhan, Chengdu, Chongqing, and Guangzhou, included 3,000 adult women who had purchased jewelry in the past two years. The survey found that impromptu consumption accounts for 47%, while planned consumption accounts for 53%. The proportion of planned consumption increased slightly compared to 2007. Among the impromptu consumption respondents, about 64% (i.e., 30% of all respondents) said that when they make impromptu purchases, they still depend on price. If it does not exceed a certain price, they will buy their favorite jewelry. Another 36% of impromptu consumption respondents will not care about the price and buy their favorite jewelry. Regarding the price cap for impromptu consumers, the average across all cities is RMB 3,589 yuan. In Shanghai, Hangzhou, and Beijing, the price cap for impromptu consumers averages more than RMB 4,000 yuan, higher than in other cities.
In product types, necklaces and rings are still the most popular. Regarding materials, most consumers plan to buy gold jewelry made of gold, platinum, and K. It is worth noting that more and more consumers buy gold jewelry in recent years to hedge against inflation. It is worth noting that the proportion of respondents planning to buy diamonds is a high 33%, reflecting the popularity of diamond jewelry. Especially in Dalian, Chongqing, and Guangzhou, a higher percentage of respondents intend to buy diamond jewelry.
Respondents expect to spend more than RMB 4,000 yuan on jewelry over the next year, accounting for 40%, more than in 2007. The overall average consumption budget is RMB 4,566 yuan, which is more than 20% higher compared to the 2007 survey. Dalian, Hangzhou, Shenyang, and Wuhan saw particularly high increases in average budget. In addition, 65% of respondents visit jewelry stores at least once every six months; visiting jewelry stores at least once per month declined slightly compared to 2007. Time-based jewelers and shopping areas are the most popular department stores. Overall, customers feel satisfied with jewelry stores but still see room for improvement. They expect jewelry shops to strengthen after-sales service, especially jewelry cleaning.
In recent years, the exchange of jewelry information among Mainland consumers has shifted from mass media to informed jewelry information. However, TV advertising remains the medium where consumers are most often exposed to jewelry information and most able to attract their attention. Compared to mainland brands of the same quality, the majority of respondents are willing to pay higher prices to buy branded jewelry, with an average premium of 46%, 10 percentage points higher compared to 36% in 2007. Daniel Poon pointed out that the results of past surveys showed that respondents' favorite brands were Hong Kong brands, and they also loved Hong Kong jewelry brands. Hong Kong jewelry brands, styles, and designs win them over when purchasing medium and low-end and high-end jewelry, making Hong Kong brands the preferred choice. Daniel Poon summed up that respondents had a positive attitude toward purchasing new brands and were also willing to pay a premium to buy Hong Kong jewelry brands. Hong Kong companies should take advantage of this advantage, clarify market positioning, and clearly target customer bases to establish brand awareness. He said that Hong Kong jewelry brands should emphasize high-end lines, Hong Kong style, Hong Kong brands, Hong Kong design, and Hong Kong management as advertisements, aligning with local consumer preferences to promote new consumer culture. However, Hong Kong brands have competitive potential at both high-grade and low-grade levels. Although developing the mid-market carries lower risk, Hong Kong companies are also trying to secure a firm foothold at the other end of the product spectrum to seize market share. Regarding prices, the purchasing power of consumers on the Mainland gradually enhances, allowing for some adjustments in products and prices, but low purchasing power customers cannot be ignored. Daniel Poon suggested that Hong Kong introduce different brands or products to attract different consumer groups and pay special attention to cities where the average consumer budget is higher than the overall city average, with particularly large increases.
Seven, Hong Kong Mortgage Corporation launched optimization measures for SME Financing Guarantee Scheme. Hong Kong Mortgage Corporation Limited announced a series of optimization measures for the SME financing guarantee program to encourage banks to effectively meet the financing needs of SMEs, especially under loan market pressure and poor economic climate. Since the launch of the SME Financing Guarantee Scheme on January 1, 2011, a total of 23 banks have participated in the scheme, using it to manage the risks of SME lending. So far, the program has received over 200 applications, involving a total loan amount of approximately HK$690 million. To further encourage the industry to use the SME Financing Guarantee Scheme, the Mortgage Corporation decided to make certain changes to the plan. The immediate effects of the optimization measures include: the maximum interest rate of loans secured by 8%-10% to 10%-12%; each bank's high-interest loans (interest rates over 10% of the loan) with a total loan amount ceiling increasing from HK$50 million to HK$100 million; allowing all types of revolving loans in Hong Kong dollar and foreign currency terms; allowing the original cycle by the Department of Trade and Industry Special Loan Guarantee Scheme guaranteed loans transferred to the SME Financing Guarantee Scheme for refinancing. Mortgage Corporation Executive Director and Hong Kong Monetary Authority Deputy Chief Executive Peter Pang said that SMEs are an important cornerstone of the Hong Kong economy. These optimizations by HKMC will further increase the flexibility of the SME Financing Guarantee Scheme to help banks support SMEs. The Mortgage Corporation will continue to work closely with the industry and introduce optimization measures at the appropriate time.
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