China’s beverage market could get an interesting new shot of competition with the announcement by a major US player that it could soon bring its premium Snapple brand to Asia. This move, if it happens, could provide a welcome shake-up for a market that has become dominated by a small group of both domestic and international firms, including global brands like Coke (NYSE: KU) and Pepsi (NYSE: PEP), and local giants including Wahaha and Huiyuan (HKEx: 1886). Snapple enjoys a relatively premium image in its home US market, which could provide it with an interesting boost in brand-conscious China if it enters the market and positions itself as a high-end drink.
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Shanghai Street View: Subway Prattle 沪经动向：地铁罗嗦报站词
I’ve been looking for a good reason to write about the Shanghai subway ever since launching this Street View column last year, as I’m an avid user of the system and have lots of thoughts about what works well and what could use some improvement. Now I finally have that opportunity with a news report about a survey revealing the most “wasted words” spoken by the system’s gregarious public announcement system.
Gree Tastes Pain of Excess 格力集团总裁周少强落马
I want to take a look today at Gree (Shenzhen: 000651), a major home appliance maker that is casting an interesting spotlight on a new kind of risk faced by major state-owned firms due to a central government campaigns against excessive spending and corruption. Gree usually makes headlines because of its prominent President Dong Mingzhu, who was named last year by Forbes magazine as one of Asia’s 50 most powerful women. But this time it has been in the news for far less glamorous reasons, as its internal party secretary Zhou Shaoqiang has been stripped of his posts for his lavish spending at a recent banquet.
Vancl Dresses in Black For IPO Ball 凡客诚品扭亏为盈 或重启IPO计划
After a long period of silence, online clothing specialist Vancl has stitched its way back into the headlines following a major internal meeting where the company disclosed it finally turned profitable in last year’s fourth quarter. The reports don’t specify if the profit was on a net or operating basis; but profits of any kind for younger Internet firms like Vancl will undoubtedly be welcome by investors, who have been avoiding loss-making firms like e-commerce firm Dangdang (NYSE: DANG) and video sharing specialist Youku Tudou (NYSE: YOKU). All that said, this big meeting and news of its first-ever profit seem to indicate the company has probably restarted the process for its long-delayed New York IPO, and I wouldn’t be surprised to see Vancl make its first public filing in the next 2 months.
Beijing Steps Into Big 4 Accounting 中国政府介入四大会计师事务所
Beijing has launched a new drive to unionize workers at service-sector multinationals, starting with the “Big Four” accounting firms as it seeks to exert more control over these major foreign employers. The move would follow the similar unionization of workers at most foreign-owned manufacturers over the last decade, presumably to better protect the rights of Chinese workers. If providing such protection is really the objective, then this kind of unionization drive looks like a positive development. But the move also looks suspiciously like an attempt to re-create a structure commonly seen at State-run enterprises (SOEs), where an internal Communist Party secretary is usually one of the chief decision makers and politics is often a key element in many major decisions. The insertion of this kind of government influence into major foreign service-sector companies could create serious disruptions at many of these firms, forcing them to make politically motivated decisions that don’t necessarily make good business sense.
Reviews
At a time of unprecedented diversity and fluidity in China’s rapidly evolving media in the Internet age, the struggle over the future of Chinese journalism is one of the great unfolding dramas in that country’s epic emergence as a global power.
Doug Young draws on more than two decades of experience as a teacher, traveler and foreign correspondent in the region, combined with prodigious archival research in Mandarin, to provide a comprehensive primer on the Chinese Communist Party’s decades-old system of control and manipulation of the news — from the Korean War through the Cultural Revolution and from the Tiananmen protests down to today’s increasingly anarchic new media landscape.
Informative, insightful and appropriately skeptical of all sides, Young has opened an invaluable window into a formidable monopoly of information which — millions of Chinese are only now beginning to hope — may finally be starting to erode.
Bill Berkeley, adjunct journalism professor at Columbia University, former New York Times editorial writer
The Party Line” is essential reading for anyone who wants to understand the way the media works in China. Young has penned a fascinating account of journalism in the world’s most populous country, where reporters are viewed as equal-parts writers and intelligence gatherers and the media continues to play a central, albeit evolving role in conveying the Communist Party’s message.
Anyone who’s ever wondered about the SARS news blackout, the media’s role in the Tiananmen Square student movement crackdown or, more recently, Google’s pullout from the Chinese market, will gain insight into these topics and more from a Western journalist who spent more than a decade working as a reporter in China.
Lori Streifler, Editor-in-Chief, City News Service of Los Angeles Inc.
Most people assume Chinese media just dutifully tout the Party line, since almost all are owned by the State. But as Doug Young explains, the reality is much more nuanced. Chinese journalists are in theory the eyes and ears of the Party. Yet with commercial pressure they also play a cat-and-mouse game with censors to win readers.
Young, who is a fluent Mandarin speaker, provides insightful and thought-provoking analysis through dozens of carefully gathered accounts from local journalists. “Party Line” is a useful read for anyone who wants to understand the changing roles played by modern Chinese media.
Wei Gu, Greater China Columnist, Reuters Breakingviews
From Xinhua’s part CIA-like role to increasingly intrepid newsgathering in the time of SARS and the Internet, Doug Young’s book is an absorbing and comprehensive look at China’s unique media landscape.
Mei Fong, Pulitzer-prize winning former Wall Street Journal China correspondent; adjunct professor, University of Southern California
7 Days Privatization Goes Ahead, Focus Sputters 7天私有化继续，分众传媒遇挫
Two major privatization plans of US-listed Chinese companies appear to be moving in different directions, with hotel operator 7 Days (NYSE: SVN) moving closer to its plan to de-list even as outdoor advertising specialist Focus Media’s (Nasdaq: FMCN) plan appears to be derailing. Both companies launched their plans last year at the height of a confidence crisis for US-listed China stocks that saw many companies’ shares fall sharply.
Qihoo Under Fire From News Report 奇虎遭媒体报道攻击
Security software specialist Qihoo 360 (NYSE: QIHU), known for its frequent attacks against its adversaries, is coming under fire itself in the last couple of days from a news report questioning its integrity. One of China’s top business newspapers, the National Business Daily, has issued the in-depth report detailing some of Qihoo’s allegedly dubious business practices, prompting Qihoo to sue in response. (newspaper report)
News Digest: March 1 报摘：2013年3月1日
The following press releases and media reports about Chinese companies were carried on March 1. To view a full article or story, click on the link next to the headline.
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- Qihoo 360 (NYSE: QIHU) Sues National Business Daily Over Report (Chinese article)
- LDK Solar (NYSE: LDK) Announces Sale of Shares to Fulai Investments (PRNewswire)
- 7 Days (NYSE: SVN) Enters Into Privatization Merger Agreement (PRNewswire)
- Baidu (Nasdaq: BIDU) Rolls Out Anti-Virus Software (English article)
- China Mobile (HKEx: 941) Chmn: WeChat, Skype Scarier Than Rival Carriers (Chinese article)
- Latest calendar for Q4 earnings reports (Earnings calendar)
Earnings Look Up For Jiayuan, AutoNavi 世纪佳缘和华谊兄弟为当前财报季带来些许亮光
I’ve spent most of the current earnings season writing about the bleak picture for many companies, which have seen their profits drop as the country’s economy slows. So I thought it would be nice to take a break from the downbeat news and look at a few smaller companies that have just issued more upbeat reports, including online dating site Jiayuan.com International (Nasdaq: DATE), navigation software specialist AutoNavi (Nasdaq: AMAP) and movie producer Huayi Brothers (Shenzhen: 300027). All 3 of these firms have just posted fourth-quarter results that show improving top and bottom lines, underscoring that there are still some bright spots for investors in China’s difficult economic climate.
No Buzz For Suning, Germany’s Metro 苏宁业绩悲观 万得城退出中国
Anyone thinking of getting into China’s consumer electronics retailing market might want to think again, following the latest downbeat news from homegrown giant Suning (Shenzhen: 002024) and a joint venture involving Germany’s Metro Group (Frankfurt: MEO). In the former case, Suning has just reported 2012 results that will hardly encourage investors, including an accelerating decline in profits. In the latter, Metro has formally announced it will shutter its Media Markt stores, confirming buzz that has surrounded the troubled chain that was launched with fanfare 2 years ago.
