Go West! (and North) China s New Automotive Manufacturing Clusters. Image can go here
|
|
- Adelia Snow
- 7 years ago
- Views:
Transcription
1 Go West! (and North) China s New Automotive Manufacturing Clusters Image can go here
2 Contents 01 Introduction 01 Go West! (and North) 04 Parts Manufacturers 04 Three keys to controlling the downside 05 Final words 05 About Pinsent Masons Automotive Team 4427
3 Pinsent Masons Go West! (and North) Introduction The days of 40% annual passenger vehicle sales growth in China may have passed, but Original Equipment Manufactures (OEMs) are nonetheless adding capacity at a remarkable rate. In recent months, joint ventures of Nissan, Honda, Toyota, Volkswagen, Hyundai, GM and Ford have all announced or completed significant capacity expansions. However, this production boost isn t limited to China s traditional automotive manufacturing clusters. Government policy and the market are increasingly guiding OEM plants away from the eastern and southern coasts. It is our view that parts manufacturers must and will follow OEMs away from the prosperous coasts, and that planning done before breaking ground on any new facility is crucial to mitigating the downside risk of expansion for parts makers. Go West! (and North) The last year has seen a wave of OEM capacity increases announced or completed. The projects made public include: The addition of the third phase of FAW Volkswagen s Chengdu plant, as well as its fourth plant in Foshan, in 2013 will increase its total manufacturing capacity to 1.65 million vehicles. FAW s plant in Tianjin will double its manufacturing capacity of 0.75 million vehicles in the municipality to 1.5 million vehicles by SAIC-GM-Wuling will open the $1 billion first phase of a manufacturing base in Chongqing in 2015 with a capacity of 400,000 vehicles. Shanghai General Motors broke ground on a $1.1 billion Wuhan facility that will have a capacity of 300,000 vehicles when opened in The second plant of Chang an Ford Mazda, with a capital injection of $490 million, opened in Chongqing increasing Ford s passenger car capacity in China by one-third to 600,000 units. Recent announcements show that while there s still some expansion in coastal regions, the most significant growth is inland. We see three main reasons for this inland push. 1
4 Chasing Tomorrow s Customers Car ownership rates in coastal Tier I cities are approaching those of Japan. This current level of 250 to 500 cars per person is creating unmanageable congestion on the streets of coastal China. Megalopolises such as Beijing and Shanghai can not sustain current levels of vehicle growth of between 6 and 12 percent let alone previous rises of over 30 percent. Those cities are already limiting access to new vehicle plate registrations through the implementation of a lottery, in the case of Beijing, or through exorbitant pricing, as in the case of Shanghai. By contrast, the road grids of Central and Western China, just off a round of stimulus backed construction, still have the ability to absorb new traffic. However, it s not as simple as it seems for OEMs to reorient their coastal production bases towards inland markets. Car makers are focusing on smaller, less expensive vehicles in Tier II, III and IV markets in order to attract first time buyers. GM-SAIC-Wuling has created a new brand, Baojun, specifically for the lower tier market. The new brand has seen explosive growth and now enjoys an 8 percent share of its market segment. The Nissan/Dongfeng joint venture joined GM-SAIC-Wuling with the launch of its own budget brand, Venucia, to compete in the under $10,000 price range. This diversification in product line necessitates a parallel diversification in production lines. Logistics Bottlenecks China s expensive domestic logistics rates also harm the commercial viability of shipping cars inland from the coast. Operational and regulatory inefficiencies cause logistics expenses to constitute nearly 18% of China s GDP, or more than double that in the European Union and United States. This level has remained consistent since 2001 despite massive hard infrastructure investment. The result is that it often costs more to ship from Guangzhou to Beijing than from Guangzhou to the American west coast. Wage hikes and worker shortages are also driving manufacturers of all sorts to move production inland. Technology manufacturing giant Foxconn has nearly doubled factory wages in the last two years in Shenzhen as a response to worker demands. Migration patterns are also changing, as the inland workers that used to fill coastal factories increasingly choose to stay close to home. OEMs and parts manufacturers see opportunities to take advantage of labor supply and insulate themselves from high coastal production costs by moving inland
5 Pinsent Masons Go West! (and North) Government Policy Government policies and encouragement, both local and central, have played a significant role in the development of new inland manufacturing clusters. Hyper-competitive provinces and cities have long used incentives as a means of luring high visibility industries and companies. Doing so helps boost local GDP and jurisdictions ability to hit ambitious targets. Perhaps most importantly, OEMs contribute significant income tax to local government coffers. While many cities around China, including Qingdao and Changchun, are pursuing OEMs, we see the Central and Southwestern metropolises of Wuhan, Chongqing and Chengdu as being particularly aggressive in their development of sustainable automotive manufacturing clusters. Chengdu has designated its Chengdu Economic and Technological Development Zone to be a production base for vehicles. The city set a target capacity of 1 million vehicles per year by 2015 in its 12th Five Year Plan. Wuhan expects production capacity, chiefly in its Jinkou and Zhuankou districts, to reach 3 million vehicles per year by 2015 if all planned projects are built. Chongqing has announced that the development of an auto industry cluster, dominated by Chang an Auto, with more the RMB 600 billion invested in its Liangjian New Area as the backbone of its Twelfth Five Year Plan. The municipality has stated a target capacity of 4 million vehicles by the completion of the plan in The central government s Go West policy also seems to be influencing OEM investment priorities. Volkswagen s investment in a $225 million Urumqi factory stands out among other new production facilities as Xinjiang s population is too small to constitute a major market and logistics issues make shipping to the Chinese heartland sub optimal. While Volkswagen hasn t commented on the issue, their investment makes most sense when viewed in the context of government relations. We feel that this governmental encouragement extends to other OEMs and increases their motivation to develop facilities away from the eastern and southern coasts. 3
6 Parts Manufacturers: The Next Wave of Factory Construction Production location and proximity to OEM customers is of paramount importance to parts manufacturers and will force them to follow their clients inland. Luckily, they will find local governments waiting with open arms. The same cities that have chased OEM s in the past few years recognize the importance of parts makers in a sustainable automotive manufacturing cluster. Chongqing, Chengdu and Wuhan have all formally acknowledged this by including ambitious targets in their five year plans. Bureaucrats in other areas also surely recognize the importance of auto parts factories to the medium and long term success of their headline grabbing OEM anchors. Three Keys to Controlling Risk The construction of additional manufacturing facilities increases organisational complexity and risk for parts manufacturers. We recommend our clients take the following three steps to ensure that new company structures don t get in the way of their commercial aims. Operate under a Wholly Owned Foreign Enterprise (WFOE) rather than a Joint Venture (JV) We generally advise our clients to operate under a WFOE rather than a JV for any project in China. The inclusion of a Chinese partner creates the risk of competing business goals, processes and relationships undermining commercial success. However, these risks are magnified if foreign enterprises operate multiple JV s in China. A foreign auto parts manufacturer s Shanghai JV partner would more naturally see a new JV partner for the same foreign enterprise in Wuhan as a competitor rather than a partner. Such competition has a huge downside risk for foreign investors, especially if a JV partners asks its local government to weigh in on its side. Utilise a Virtual Holding Structure rather than invest in the creation of a formal entity Creating a holding company for your Chinese entities can be expensive and, we find, unnecessary. We recommend that auto parts manufacturers group their entities under a Virtual Holding Structure. This gives companies the organisational structure needed to effectively manage their China operations while saving the cost and time of setting up a formal entity. Nurture strong relationships with business and government partners Business and governmental partners in the Chinese inland tend to have less experience dealing with foreign enterprises, which creates challenges. Extra scrutiny should be given when choosing suppliers and service providers in order to ensure consistent quality and delivery. We also advise that more emphasis be given to government relations in order to help resolve any misunderstandings that may arise. Final Words The long term geography of OEM factories in China is becoming clear. The looming threat of overcapacity has closed China to new OEM s after the addition of Jaguar Land Rover, and will limit future OEM factory construction after the current round is completed. However, auto parts manufacturers must now respond to the new landscape by following their customers inland. Doing so will take significant investment in time and money. We believe that planning done before work on any facility starts is crucial to the long term success of foreign parts manufactures in China
7 Pinsent Masons Go West! (and North) About Pinsent Masons Automotive Team The Automotive Industry continues to grapple with opportunities and challenges presented by the ever increasing global marketplace. Companies in this sector are often at the leading edge of international investment in new frontiers in order to find the consumers of tomorrow. Automotive companies that embrace change against a backdrop of geopolitical and economic shifts have access to unprecedented opportunities in the 21st century. In a Sector which is sensitive to a litany of trade and regulatory frameworks, it can be difficult to navigate the changing business environment. Our focus is on providing pragmatic advice that makes a real difference- by providing solutions, not just identifying problems. We help our clients to steer a clear path through the multijurisdictional regulatory and legal minefields that stand between them and success. Our M&A, TMT, Corporate, Private Equity, Construction, Dispute Resolution and Real Estate teams all have a wealth of experience within the sector and regularly draw upon the complementary and specialist skills each other offer within the field. Our Automotive Team, operating out of hubs in Munich, Paris, Shanghai and the British Midlands have advised clients on the legal solutions required for original equipment and parts manufacturers operating in an increasingly global market. The team has extensive expertise advising clients on the construction of production facilities, developing strategic alliances, international acquisitions, structuring and restructuring Chinese corporate entities as well as giving operational support regarding risk management, compliance and intellectual property. To find out more about how we can help you, visit or contact enquiries@pinsentmasons.com. 5
8 Pinsent Masons LLP is a limited liability partnership registered in England & Wales (registered number: OC333653) authorised and regulated by the Solicitors Regulation Authority and the appropriate regulatory body in the other jurisdictions in which it operates. The word partner, used in relation to the LLP, refers to a member of the LLP or an employee or consultant of the LLP or any affiliated firm of equivalent standing. A list of the members of the LLP, and of those non-members who are designated as partners, is displayed at the LLP s registered office: 30 Crown Place, London EC2A 4ES, United Kingdom. We use Pinsent Masons to refer to Pinsent Masons LLP and affiliated entities that practise under the name Pinsent Masons or a name that incorporates those words. Reference to Pinsent Masons is to Pinsent Masons LLP and/or one or more of those affiliated entities as the context requires. Pinsent Masons LLP For a full list of our locations around the globe please visit our websites:
Connectivity in the Automotive Sector
The Most Innovative Law Firm in Europe Connectivity in the Automotive Sector Meeting today s legal challenges in a connected world Introduction The connected car has moved from being a futuristic concept
More informationMachinery and equipment manufacturing in China
Machinery and equipment manufacturing in China Focal point: NBSO Dalian The layout of the global equipment manufacturing industry is changing fast. Production capacity relocates from developed countries
More informationThe Most Innovative Law Firm in Europe. Corporate Seminar programme 2016
The Most Innovative Law Firm in Europe Corporate Seminar programme 2016 Corporate Seminar programme 2016 Set out in the following pages is a selection of the seminars Pinsent Masons Corporate Group is
More informationComparing Chinese Investment into North America and Europe
Comparing Chinese Investment into North America and Europe 1 EXECUTIVE SUMMARY Chinese outbound foreign direct investment (OFDI) has grown rapidly in recent years and is increasingly flowing to high-income
More informationVWNMS Dr. Frank Galas 24 th September 2014 Volkswagen Leasing China 1
1 Leasing is the natural choice for commercial customers Fixed low monthly leasing payments full transparency and cost control No bound capital and higher financial freedom for the business Off balance
More informationUK Employee Incentives and Benefits
UK Employee Incentives and Benefits About our UK Employee Incentives and Benefits Team The UK Employee Incentives and Benefits team at Bird & Bird design, draft and implement employee share plans and other
More informationImpact of Global Financial Crisis on International Investments in Real Estate. -- Focus on China
Impact of Global Financial Crisis on International Investments in Real Estate -- Focus on China Main Topics: Overview of Real Estate Investment System in China New Laws and Regulations in Response to Global
More informationGeneral Motors in China
Backgrounder T GM China General Motors in China General Motors Co., one of the world's largest automakers, traces its roots back to 1908. The General Motors-China relationship dates back more than nine
More informationIndustrial Relocation of Foxconn (East West)
Student Research Projects/Outputs No.038 Industrial Relocation of Foxconn (East West) Enar lazcano MBA 2009 China Europe International Business School 699, Hong Feng Road Pudong, Shanghai People s Republic
More informationVolkswagen Group China Dr. Jörg Mull, Executive Vice President, Finance. Investor Conference Call with Deutsche Bank Beijing, December 03rd, 2012
Volkswagen Group China Dr. Jörg Mull, Executive Vice President, Finance Investor Conference Call with Deutsche Bank Beijing, December 03rd, 2012 Content Our Momentum in China Outlook Market Development
More informationRenmin School of Business China Anhui Jianghuai Automobile Co., Ltd
GNAM Investment Competition Renmin School of Business China Anhui Jianghuai Automobile Co., Ltd October 31 st, 2015 Grace Feng 冯 嫒 Jimmy Huang 黄 雄 伟 Christoph Meyerhof 德 龙 Andrew Tjong-Tjin-Joe 张 天 晟 Kevin
More informationBIG DATA. WHAT S YOUR STRATEGY?
TMT Insight Autumn 2013 BIG DATA. WHAT S YOUR STRATEGY? BIG DATA: WHAT S YOUR STRATEGY? INTRODUCTION WE ARE WITNESSING A DATA EXPLOSION THAT IS HAVING AS PROFOUND AN IMPACT ON OUR WAY OF LIFE AS THE LAUNCH
More informationBusiness Environment in Chengdu
Business Environment in Chengdu Lingyun Wang Matti Muhos Miika Kreivi Pekka Kess Department of Industrial Engineering and Management Chengdu-Chongqing Economic Circle Leading cities - Chengdu - Chongqing
More informationVORTRAGSREIHE. Transfer of Undertakings and Restructuring A View from both Sides of the Channel
VORTRAGSREIHE Donnerstag, 19. März 2015 / 18.30 Uhr Transfer of Undertakings and Restructuring A View from both Sides of the Channel Referenten: Neil Black Pinsent Masons LLP Manfred Schmid Pinsent Masons
More informationOutline. Urbanization. Prospect of automobile industry in process of the Mega city develpment in China. 1. Urbanization development in Great China
Outline 1. Urbanization development in Great China 2. Mobility development in the process of China s urbanization Prospect of automobile industry in process of the Mega city develpment in China Die Zukunft
More informationChina opens up its bank card payment clearing market
June 2015 China opens up its bank card payment clearing market The Decision to Implement Market Access Administration for Bank Card Clearing Institutions (the Decision ) of the State Council, which came
More informationBDO s. Setting up a business in China can. BDO China unlocked
china unlocked BDO China unlocked BDO s expertise and international reach Over the last two decades China has firmly put itself on the map as a country in which to invest, to date mainly for Manufacturing
More informationCorporate Governance. The benefits of good practice for private companies in the GCC February 2013
Corporate Governance The benefits of good practice for private companies in the GCC February 2013 Contents 01 Introduction 02 What is corporate governance? 03 The benefits of good corporate governance
More informationTHE INDIAN AUTOMOTIVE MARKET
Overview THE INDIAN AUTOMOTIVE MARKET India ranks just behind China with the world s second largest population at over 1 billion people. Less than 1 percent of the population currently owns automobiles,
More informationLocal expertise & multinational deals & fresh ingredients & brand innovations & added value in regulation & from raw materials to consumer products &
& Food and Beverage Local expertise & multinational deals & fresh ingredients & brand innovations & added value in regulation & from raw materials to consumer products & a good nose for business Our International
More informationENA SHE12 Major Incident H&S Aspects a Lawyer s perspective. Kevin Bridges Partner and Chartered Safety and Health Practitioner
ENA SHE12 Major Incident H&S Aspects a Lawyer s perspective Kevin Bridges Partner and Chartered Safety and Health Practitioner Implement an Incident Response Protocol Covering: - Escalating incidents internally
More informationAsia Insight: Online to Offline The Great Technology Migration
Asia Insight: Online to Offline The Great Technology Migration July 25, 2015 by Michael Oh of Matthews Asia A few years back, when we last wrote extensively about the significant developments undergone
More informationBig Data for Mutuals. Marc Dautlich 25 November 2013
Big Data for Mutuals Marc Dautlich 25 November 2013 Agenda BIG DATA What is it? OPPORTUNITIES What are they? LEGAL CHALLENGES How do we overcome them? LEGAL REFORM What can we do now to minimise impact?
More informationBrand Management Services
Brand Management Services About Bird & Bird Since 1898 Bird & Bird has led the way in protecting the ideas that have made some of the world s greatest brands successful. It s the firm s excellence in client
More informationShared Services Toolkit
Shared Services Toolkit Shared Services Toolkit Introduction Sharing services is essential if Government is to meet its financial targets. Whether you do this as a group of central or local Government
More informationBusiness Confidence Survey
Business Confidence Survey German Business in China 2014 Press Release ABOUT THE SURVEY The German Chamber Business Confidence Survey has been conducted annually since 2011. It is a key gauge measuring
More informationVolkswagen Financial Services Strategy and business development in China
Volkswagen Financial Services Strategy and business development in China Harald Müller General Manager, Volkswagen Finance (China) Co., Ltd. Beijing, 14 April 2015 Volkswagen Group Leveraging the power
More informationThe Automotive Industry. Meeting today s challenges
The Automotive Industry Meeting today s challenges Offering breadth of experience and specialist industry knowledge Automotive companies are often at the leading edge of international investment in new
More informationCleantech in China The road to increasing electric vehicle adoption
www.pwc.com/cleantech Cleantech in China The road to increasing electric vehicle adoption March 2013 China has held the title of world s largest auto market since 2009, when it surpassed the U.S. with
More informationChallenges faced and practical techniques for managing a dispersed or virtual team
Challenges faced and practical techniques for managing a dispersed or virtual team Rona Blair Pinsent Masons LLP BIALL 2015 Dispersed teams Recognise this? Body Language Agile working Plantronics Smarter
More informationHow To Understand The Economic Situation In India
I B EF I N D I A BR A ND EQ U I TY F OU N DAT I ON www.ibef.org India: Mecca of Small Car Contents ... 1. Indian Automobile: The sunshine sector The Indian automobile sector is the seventh largest in the
More informationEvolution of the smart grid in China
18 Evolution of the smart grid in China Development of this enormous market could shape the future of the smart grid globally. David Xu, Michael Wang, Claudia Wu, and Kevin Chan China has become the world
More informationExtended Warranties for New and Used Cars in the Asia-Pacific Region
Brochure More information from http://www.researchandmarkets.com/reports/3068561/ Extended Warranties for New and Used Cars in the Asia-Pacific Region Description: The report titled Extended Warranties
More informationSchroder Property Multi-let industrial estates: more than just your average manufacturer
Schroder Property Multi-let industrial estates: more than just your average manufacturer July 201 For professional investors and advisers only Introduction Eleanor Jukes, Senior Property Research Analyst
More informationLondon calling: Investing in commercial real estate
London calling: Investing in commercial real estate London s thriving real estate market is offering private equity and sovereign wealth funds new and diverse opportunities Capital attraction for global
More informationFranchising Industry in China
Franchising Industry in China 1. An Overview of Franchise Development in China Franchising first emerged in China in the late 1980s. In 1987, KFC s first Chinese outlet was opened in Beijing, the capital
More informationUK Services for Multinational Employers
UK Services for Multinational Employers May 2013 Pinsent Masons takes a comprehensive and integrated approach to advising clients around the world on employee matters from rights and risks to rewards and
More informationINDIAN SOFTWARE OUTSOURCING COMPANIES ARE OUTSOURCING TO CHINA
Paul M. Denlinger WHY INDIAN SOFTWARE OUTSOURCING COMPANIES ARE OUTSOURCING TO CHINA Paul M. Denlinger is a market strategy consultant based in Beijing. He has been involved with Internet and technology
More informationAsset Management Industry Development in Hong Kong, Singapore and China
Asset Management Industry Development in Hong Kong, Singapore and China by Terence Chong Vivian Wong Working Paper No. 7 March 2012 Institute of Global Economics and Finance The Chinese University of Hong
More informationWHISTLEBLOWING: Legislative changes, possible reforms and case law update. Euan Smith
WHISTLEBLOWING: Legislative changes, possible reforms and case law update Euan Smith Why is a Whistleblowing Policy Important? PIDA and public policy legislation only intended as a backstop Compliance
More information(WHIBI) Belgium Welcome Office
(WHIBI) Belgium Welcome Office 1. Introduction of the investment environment of Wuhan 1) Brief Introduction Located in central China, Wuhan, the capital of Hubei Province, serves as the political, economic
More informationTHE END OF THE CHINA CYCLE? How to successfully navigate the evolution of low cost manufacturing
THE END OF THE CHINA CYCLE? How to successfully navigate the evolution of low cost manufacturing Our view on manufacturing footprint optimization Detroit December 2011 The China "low cost" manufacturing
More informationWorld Bank Transport Forum, April 2009
0 Railways for Development An overview of China s Railway Development Program World Bank Transport Forum, April 2009 John Scales: Transport Coordinator, Beijing. Paul Amos: Strategy and Management Consultant
More informationInformation Disclosure on the Securities Market
3 Legal Update Banking & Finance Construction & Engineering Corporate & Securities Vietnam 06 July 2012 Information Disclosure on the Securities Market Summary On 5 April 2012, the Ministry of Finance
More informationVietnam s Insurance Market: An Overview January 2014
Legal Update Insurance Vietnam 29 January 2014 Vietnam s Insurance Market: An Overview January 2014 1. Introduction Vietnam started liberalising its insurance market by allowing foreign insurers to participate
More informationChina s 12th Five-Year Plan: Healthcare sector
China s 12th Five-Year Plan: Healthcare sector May 2011 KPMG CHINA One of the guiding principles of the 12th Five-Year Plan (5YP) is inclusive growth : helping ensure that the benefits of the country s
More informationDO NOT WRITE ANY ANSWERS IN THIS SOURCE BOOKLET. YOU MUST ANSWER THE QUESTIONS IN THE PROVIDED ANSWER BOOKLET.
SPECIMEN MATERIAL AS ECONOMICS 713/2 Paper 2 The national economy in a global context Source booklet DO NOT WRITE ANY ANSWERS IN THIS SOURCE BOOKLET. YOU MUST ANSWER THE QUESTIONS IN THE PROVIDED ANSWER
More informationInternational Business Strategy
International Business Strategy Executive Summary The Canadian automotive industry, and in particular the automotive component parts industry is part of the broader global industry. Canadian suppliers
More informationImportance of China for Mercedes-Benz Passenger Cars
Importance of China for Mercedes-Benz Passenger Cars Merrill Lynch, 17 May 2011 Klaus Maier President and CEO of Slide 1 Agenda 1 2 3 4 Mercedes-Benz Growth in China 2006-2011 Today's Importance of China
More informationCorporate Finance in the Automotive Arena. - Navigating the next decade. of auto industry transformation -
Corporate Finance in the Automotive Arena - Navigating the next decade of auto industry transformation - Jens Diehlmann Partner at IBM Global Business Services; Global Leader Captive Finance Agenda 1 Who
More informationHealthcare. A guide to our offering
Healthcare A guide to our offering Our dedicated Healthcare Group provides an extensive range of legal services to our healthcare, pharmaceutical and medical devices clients. These clients range from start-up
More informationSucceeding in China. Tom Behrens-Sorensen Navisino (Beijing) Advisors Ltd.
Succeeding in China Tom Behrens-Sorensen Navisino (Beijing) Advisors Ltd. Muligheder og udfordringer 24 millioner SMVer i EU 13% af EU27 SMVer eksporterer uden for det indre marked Kun 250.000 SMVer eksporterer
More informationVolvo Group Purchasing. VÄLKOMMEN TILL STORA LEVERANTÖRSDAGEN Volvo Group Trucks
VÄLKOMMEN TILL STORA LEVERANTÖRSDAGEN Volvo Group Trucks Agenda Volvo Group Trucks Volvo Group Trucks Footprint Asia & Product Segments Next Steps Volvo Group brands Volvo Group Trucks Group Trucks Sales
More informationThe South African Automotive Industry,
The South African Automotive Industry, the MIDP and the APDP Presentation by Roger Pitot NAACAM October 2011 1 SA Automotive Industry: Structure The vehicle manufacturers present in SA Mercedes Benz, BMW,
More informationCosts of setting up an office in Shanghai
March, 2008 Costs of setting up an office in Shanghai Contents business registration... 2 office rentals... 3 serviced offices... 3 telecommunications and internet costs... 4 recruitment and staff costs...
More informationChina Cloud-based Services Structure Options
Zhong Lun Law Firm Beijing Shanghai Shenzhen Guangzhou Wuhan Chengdu Tokyo Hong Kong London New York Robert Lewis 11 June 2013 China Cloud-based Services Structure Options Cloud-based services in China
More informationAdvice Note. An overview of civil proceedings in England. Introduction
Advice Note An overview of civil proceedings in England Introduction There is no civil code in England; English civil law comprises of essentially legislation by Parliament and decisions by the courts.
More informationACE: Leader in the European Automotive Components Market
ACE: Leader in the European Automotive Components Market ACE 2012-2015 Strategy 21/12/2011 Following on from our Current Report in December 2010, ACE s management herein presents its 2011 update on the
More informationACC San Diego Chapter
ACC San Diego Chapter Biomedical and Technology Collaborations with Chinese Companies: Legal and Cultural Challenges October 2012 DLA Piper Overview Our Firm 4,200 lawyers in 77 offices and 33 countries
More informationForeign direct investment in the consumer products and retail sector in China
Foreign direct investment in the consumer products and retail sector in China Permitted investment vehicles Since December 2004, foreign retailers have been permitted to establish Foreign Invested Commercial
More informationIntroduction. Taxes Supported. E tax Payment Service
Introduction To allow corporate clients to pay taxes (levied by both State Tax Bureau and Local Tax Bureau) electronically, HSBC Bank (China) Company Limited (HSBC China) has completed the system development
More informationWhat is Cyber Security?
& Cyber Security The threat: trojans, trap doors malware, packet sniffers, worms, viruses, hacking and denial of service. Physical security is insufficient protection against these new forms of threat.
More informationEssentials of Management Information Systems
Essentials of Management Information Systems KENNETH C. LAUDON AND JANE P. LAUDON CHAPTER 9 CASE 2 E-COMMERCE: DIGITAL MARKETS, DIGITAL GOODS Ford AutoXchange B2B Marketplace VIDEO CASE TAGS SUMMARY URL
More informationWhat is Cyber Security? Why work with us?
& Cyber Security The threat: trojans, trap doors malware, packet sniffers, worms, viruses, hacking and denial of service. Physical security is insufficient protection against these new forms of threat.
More informationBMW China. Dealer Development.
Page 1 BMW China.. Dealer Development September 2010 Sheer Driving Pleasure Page 2 China auto market overview. Both total Passenger Vehicle (PV) market and plus segment have been growing quickly over the
More informationFinancial Regulation. Consultation Paper 13/13: The FCA s regulatory approach to crowdfunding (and similar activities) November 2013
Financial Regulation Consultation Paper 13/13: The FCA s regulatory approach to crowdfunding (and similar activities) November 2013 5926 Pinsent Masons Financial Regulation In the Entrepreneurship 2020
More informationAutomotive Manufacturing & Design for China
Automotive Manufacturing & Design for China 2015 Media Planner Webinars Integrated Media Platform for Lead Generation & Branding Video Mobile Social Media: www.industrysourcing.com www.industrysourcing.cn
More informationAutomotive Suppliers Survey
The outlook for 2014 remains optimistic. The key to success will be innovation and R&D, the key to survive will be skilled labour. Automotive Suppliers Survey Slovakia, 2014 Consultancy firm PwC in cooperation
More informationMinistry of Small Business,Technology and Economic Development
Ministry of Small Business,Technology and Economic Development 2 BRITISH COLUMBIA S TRADE AND INVESTMENT STRATEGY FOR CHINA Why China is Important to British Columbia China is the world s fourth largest
More informationAutomotive Components Europe S.A.
Automotive Components Europe S.A. January, 2008 The ACE Group (Automotive Components Europe S.A.) is a leading supplier in Europe of automotive components for braking systems. The group specialises in
More informationAMP to acquire 19.9% of China Life Pension Company
30 October 2014 AMP to acquire 19.9% of China Life Pension Company AMP Limited, Australia and New Zealand s leading independent wealth management business, announced it has agreed to acquire a 19.99 per
More informationChina 2015 International Property Outlook
China 2015 International Property Outlook China 2015 International Property Outlook Chinese are buying property internationally in unprecedented numbers and despite media speculation that the economy of
More informationWealth Management. Instinctively global
Wealth Management Instinctively global In an integrated global economy clients need an integrated global law firm The wealth management landscape is changing and with it the needs of our clients. An instinctively
More informationPolicies and Practices of China In Commercialization of Public R&D Outputs
Policies and Practices of China In Commercialization of Public R&D Outputs Sun Jianxin, Senior Engineer Torch Hi-tech Industry Development Center, Ministry of Science & Technology of P. R. China December
More informationChina's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers
China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China Civil Aviation Report Uniworld, LLC/Francis Chao September 6, 2005. Dublin, Ireland Before 1978, It was a
More informationREAL OPTIONS EVALUATION OF FINANCIAL INVESTMENT IN FLEXIBLE MANUFACTURING SYSTEMS IN THE AUTOMOTIVE INDUSTRY. Duoxing Zhang
REAL OPTIONS EVALUATION OF FINANCIAL INVESTMENT IN FLEXIBLE MANUFACTURING SYSTEMS IN THE AUTOMOTIVE INDUSTRY Except where reference is made to the work of others, the work described in this dissertation
More informationUrban Planning and Development Systems Business Strategy
Urban Planning and Development Systems Business Strategy Hitachi IR Day 2012 June 14, 2012 Toshio Ikemura Vice President and Executive Officer Infrastructure Systems Group President & CEO Urban Planning
More informationStandard Life Investments strengthens strategic position through acquisition of Ignis Asset Management
For release at 07:00 (UK time) 26 March 2014 Standard Life Investments strengthens strategic position through acquisition of Ignis Asset Management Acquisition of Ignis Asset Management by Standard Life
More informationOwner managed businesses: Bringing your corporate and personal goals to life
Owner managed businesses: Bringing your corporate and personal goals to life Owner managed businesses PRECISE. PROVEN. PERFORMANCE. Bringing your corporate and personal goals to life Dynamic. Ambitious.
More informationHealth and Safety Legal Update. Laura Cameron
Health and Safety Legal Update Laura Cameron Introduction Corporate Manslaughter update Individual Responsibility Sentencing Guidelines Horizon Scanning Health and Safety: Corporate Homicide Corporate
More informationAdvantages of Localized Manufacturing
Reiny Giesecke, Cubic Corporation, Director of Business Development Advantages of Localized Manufacturing The advantages of near shoring are quickly outweighing off shoring. China s rising costs, long
More informationThe World is Flat and Beckoning
The World is Flat and Beckoning Albert J. Simone President Convocation Remarks May 26, 2006 In the recent book The World Is Flat, it is pointed out that people, governments, and institutions are globally
More informationHow To Strengthen The Relationship Between Hong Kong And The Mainland
Legislative Council Panel on Commerce and Industry 2013 Policy Address Policy initiatives of Constitutional and Mainland Affairs Bureau in relation to Mainland and Taiwan co-operation This paper briefs
More informationDeutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director
Deutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director Slide: Name Slide Thanks very much, it s a great pleasure to be here today and I d like to thank our hosts Deutsche Bank
More informationConsolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP]
Consolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP] October 27, 2010 Company Name: KOITO MANUFACTURING CO., LTD. Stock Listing: First Section, Tokyo Stock Exchange Code Number:
More informationCHINA S FINANCE INDUSTRY SALARY TRENDS AND TALENT RETENTION. A report by Hays and Zhaopin. hays.cn
CHINA S FINANCE INDUSTRY SALARY TRENDS AND TALENT RETENTION A report by Hays and Zhaopin. hays.cn Introduction While economic growth slows in China s traditional business areas, financial institutions
More informationCarbon finance and the carbon market in China. Citation Nature Climate Change, 2015, v. 5 n. 1, p. 15-16
Title Carbon finance and the carbon market in China Author(s) Yu, X; Lo, AYH Citation Nature Climate Change, 2015, v. 5 n. 1, p. 15-16 Issued Date 2015 URL http://hdl.handle.net/10722/210097 Rights Creative
More informationThe world economy is moving.
The world economy is moving. Can America keep up? Efficient transportation creates the competitive edge. The growth in the world economy promises to be astounding like nothing you ve ever seen before....
More informationAbout Standard Chartered
About Standard Chartered Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered
More informationTesla Motors, Inc. Fourth Quarter & Full Year 2013 Shareholder Letter
Tesla Motors, Inc. Fourth Quarter & Full Year 2013 Shareholder Letter Record 6,892 Model S vehicles sold and delivered in Q4 World s highest Consumer Reports customer satisfaction score of 99/100 Q4 auto
More informationBecoming a Sustainable Brand in China. By Jordi Martin Business Development Manager at Koehler Group November 2014
Becoming a Sustainable Brand in China By Jordi Martin Business Development Manager at Koehler Group November 2014 Koehler Group About Us Koehler Group (formerly known as Klako Group) is an international
More informationChina new healthcare reform 2020
Financial institutions Energy Infrastructure, mining and commodities Transport Technology and innovation Life sciences and healthcare China new healthcare reform 2020 Ten things to know Norton Rose Fulbright
More informationTheft, Fraud & Dishonest Employees. An Employee Fraud Case Study. Presented by Jon Coley, Partner, Employment
Theft, Fraud & Dishonest Employees An Employee Fraud Case Study Presented by Jon Coley, Partner, Employment Case Study, Part 1 Brenda is a Deputy Finance Manager in the finance team covering holiday for
More informationChina Railways Development, Financing and Challenges
China Railways Development, Financing and Challenges Zhang, Jianping Depart. of Development & Planning Ministry of Railway, P. R. China March 31, 2006 Transport Forum, World Bank 1. Current Situation of
More informationIndex. Copyright material from - licensed to npg - PalgraveConnect - 2016-09-16
Index AMIA (Mexican Association of the Automotive Industry), 90, 108 automobile demand ageing of population, 9 emerging economies, 206 7 financing, 8 post-recession, 1 2 role of income distribution and
More informationEuropean Chamber of Commerce BUSINESS & IDEAS FAIR WESTIN SHANGHAI 2 July 2pm 6pm
OFFICIAL SPONSOR OF THE FAIR: ICSME is the one-stop shop for professional support for small and medium-sized enterprises (SMEs) to facilitate market entry and expansion in China: Serviced Offices, Start-up
More informationAutomotive. Meeting your global industry legal needs
Automotive Meeting your global industry legal needs With lawyers in more than 40 offices around the world, the depth and breadth of Hogan Lovells experience in the automotive sector is unmatched. We advise
More informationFinancial Regulation: An overview of the FCA s proposal of the new Consumer Credit regime October 2013
Financial Regulation: An overview of the FCA s proposal of the new Consumer Credit regime October 2013 Consultation Paper 13/10: Detailed Proposals for the FCA regime for Consumer Credit In early October
More informationConnected Car Forecast: Global Connected Car Market to Grow Threefold Within Five Years
chnology Roadmap : Global Connected Car Market to Grow Threefold Within Five Years February 2013 Version 1.0 chnology Roadmap 3 The global connected car market will be worth 39 billion in 2018 up from
More informationHow To Make Money In Indonesia
Client Update An overview of the Indonesian insurance industry for foreign investors 21 February 2014 The Indonesian insurance market has attracted significant interest from international investors in
More information