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First Trina Solar (NYSE: TSL) warned earlier this week that its Q1 earnings would miss its own guidance, and a day later Yingli (NYSE: YGE) issued a similar warning. (Trina announcement; Yingli announcement) So what’s going on here? It seems the problem lies in Italy, where a bit of regulatory indecision has finally been resolved, reducing the size of the country’s solar-installation incentives. It’s probably only a matter of days before other big solar producers reliant on Italy follow with similar announcements, or they may just wait until reporting time to give investors the bad news. The Italy effect will ripple through the market for at least the next few months, pressuring prices through the fourth quarter. Of course that’s good news for anyone building solar plants, but I expect that analysts are busy revising downward all their earnings forecasts for the big Chinese solar firms for the rest of the year. All this highlights how reliant this sector is on government incentives and underscores the pressure on Beijing to roll out more of its own incentives to make sure this vibrant field of domestic manufacturers stays healthy. (previous post)

Bottom line: China’s solar cell makers and their suppliers will take a revenue hit in the next two quarters, pressuring Beijing to announce new incentives to prop up the industry.

天合光能<TSL.N>本周早些时候发出警告称，其第一季盈利将达不到公司预期目标。一天之後，英利绿色能源<YGE.N>也发布了类似警告。那麽到底发生了什麽事呢？问题似乎出在意大利方面，因该国终於解决了监管方面的优柔寡断问题，减少了对本国太阳能设施安装的激励措施。大概在未来几天内，其他依赖意大利市场的大型太阳能企业也会相继发布类似警告。意大利效应至少会在未来数月干扰市场，对价格形成的压力也会绵延到第四季度。当然，这对那些建造太阳能电厂的人来说是个好消息，但我预计，分析师们正忙于下调对中国大型太阳能企业今年余下时间的盈利预测。所有这些都说明这个产业是多么依赖政府的支持和激励，也突显了中国政府面临的压力：即要推出更多国内刺激政策，以确保正在蓬勃发展的中国太阳能企业安然无恙。

一句话：在未来两个季度，中国太阳能电池制造商及其供应商的营收将受创，从而可能迫使中国政府出台新的激励措施，以支持该行业发展。

Related postings 相关文章:

◙ China Boosts Solar Firms with Power Plan 中国太阳能产业荣景可待

◙ LDK Looking for Cash as Sales Dry Up 赛维LDK太阳能公司销量下滑 现金接近枯竭

◙ 3M Jumping on China Solar Bandwagon 3M进军中国太阳能产业

Nanshan Aluminum’s (Shanghai: 600219) new plan to open an aluminum extrusion plant in the US indicates China is taking a new approach to this difficult and politically sensitive market. The company has said it will invest $161 million to build a plant in the state of Indiana, in a bid to get around US protectionist measures targeting aluminum made in China. (English article) Many will recall that Angang Steel’s (HKEx: 347) plan to invest in a US steel mill seemed to fall apart last year when it ran into political resistance, even though the US plant it tried to invest in was struggling. This new plan from Nanshan – which certainly received approval at the highest levels in Beijing – would seem to be a new approach aimed at circumventing any politicians worried about a Chinese firm taking control of a US one in this sensitive area. The only problem is, I don’t see any way that Nanshan or any other Chinese company can succeed in this labor-intensive sector in the US, as their main advantage is the low costs they can get in China. Furthermore, union politics common at this kind of factory have been difficult for Chinese firms operating overseas to navigate in the past, and I see no reason that Nanshan – which has little or no overseas experience – will fare any better.

Bottom line: Nanshan Aluminum’s new approach to overseas investment is destined to fail, and won’t provide any new model for Chinese investments in the US.

南山铝业<600219.SS>在美国开设铝型材加工厂的新计划暗示，中国正对这个高难度且政治敏感的市场采取新办法。南山铝业表示，公司计划投资1.61亿美元，在美国印第安纳州修建一座高端铝型材加工厂，此举旨在避开美国对中国产铝制品的保护主义措施。很多人会想起，因遭遇政治阻力，鞍钢<0347.HK>投资一家美国钢铁厂的计划去年似乎不了了之。南山新计划似乎是为规避美国政客对中国企业在该敏感行业控制美国一家企业的反对，而且该计划肯定得到了北京最高层的批准。唯一的问题是，我看不到南山铝业或其他任何中国企业在美国从事这一劳动密集型产业会有任何成功之道，因它们的主要优势就是在中国能够实现的低成本。此外，此类工厂普遍存在的工会政治一直都让那些在海外运营的中国企业穷于应付，我看不到南山的境遇会比先行者们好到哪里去，毕竟南山本来就缺乏海外运营经验。

一句话：南山铝业的海外投资新策略注定将以失败告终，也不会为中国对美投资提供任何新模式。

Related postings 相关文章:

◙ Yanzhou Joins China Outbound Coal Train 兖州煤业加入中国海外煤炭并购大军

◙ Baosteel Takes Nice Baby Step Outside China 宝钢终於走出海外第一步

◙ Shenhua Rights Issue Smells of Overseas M&A 神华能源可能进行海外并购

At first blush, Tencent’s (HKEx: 700) recent purchase of 4.6 percent of popular TV and movie production house Huayi Bros (Shenzhen: 300027) for 450 million yuan, or about $70 million, looks like just another silly purchase by a company with way too much cash on its hands. (English article) But a second glance may be needed here. In fact, in the light of Tencent’s ongoing push to challenge Youku (NYSE: YOKU) and Tudou in online video (previous post), this deal actually makes quite a bit of sense and could even be a very savvy play by Tencent. As maker of some of China’s most popular films and TV shows, content from Huayi may be just the tonic that Tencent needs to drive Web surfers to its new online video offering. Equally important, the partnership could keep Huayi’s movies away from Youku, Tudou and other online video aspirants like Baidu (Nasdaq: BIDU). Look for more deals like this in the months ahead, as Tencent continues its push into the space.

Bottom line: Tencent’s Huayi Bros investment will it help it secure popular content for its new online video service, and keep that content away from competitors.

腾讯<0700.HK>最近决定以4.5亿元人民币购买华谊兄弟<300027.SZ>的4.6%股权，乍一看，这似乎又是个钱多了没处花、犯傻的案例。但我们得再好好琢磨一下。事实上，考虑到腾讯在网络视频领域挑战优酷<YOKU.N>和土豆网的雄心，此次购买华谊兄弟股权还是有意义的，甚至可能算是非常明智。华谊兄弟制作出了不少深受观众欢迎的电影电视剧，其提供的内容应有助於腾讯网络视频服务吸引网民。同样重要的是，这种战略合作关系，可防止优酷、土豆、百度<BIDU.O>等竞争对手使用华谊的娱乐内容。未来数月可继续关注类似交易。

一句话：腾讯投资华谊兄弟，可使其网络视频服务获得热门内容资源，并且可以阻止竞争对手取得这些内容。

Related postings 相关文章:

◙ Youku: Mixed Results Make Management Confident 优酷业绩喜忧参半管理层仍雄心勃勃

◙ Tencent Takes Serious Shot at Video 腾讯重拳出击视频业务

◙ Tudou Smells Sweet as Video Sharing Purchase　　土豆网秀色可餐

China has spent the last five years building up a powerhouse solar cell industry that now accounts for more than half the world’s production. But oddly enough, it has never launched any major programs to encourage solar energy production at home, with the result that its stable of giants including Suntech (NYSE: STP), Trina Solar (NYSE: TSL) and Yingli (NYSE: YGE) have to export nearly all their output. Now it looks like all that could soon change, in what should come as a big boost to all these companies, including Trina, which just yesterday had to lower its latest sales target due to unstable demand from Italy. (company announcement) Chinese media, citing the powerful state planner, the NDRC, are saying the country is preparing to introduce ambitious new plans for solar power installation, which would see the country aim to install 10 gigawatts of capacity by 2015 and 50 gigawatts by 2020 — a huge boost from less than 1 gigawatt now. (English article) All this makes perfect sense, as China has made green energy initiatives a central plank of its recently rolled-out 12th five-year plan, and it also wants to give these companies a more stable market in which to sell their wares. If this new plan turns out to be true, and the signs indicate it is, then there should be some bright times ahead for China’s strong solar cell sector.

Bottom line: China’s major new plan to boost its solar energy production should provide a new and more stable revenue source for the country’s major solar cell makers.

中国过去五年着力打造太阳能电池板产业，产量占全球逾一半，但奇怪的是，中国从未推出重大项目，鼓励国内太阳能生产，其结果就是：尚德电力<STP.N>、天合光能<TSL.N>及英利<YGE.N>等太阳能巨头的产品，几乎全部用於出口。不过情况可能很快发生变化，所有这些太阳能企业将获得提振，包括天合光能。而由於来自意大利的需求不稳定，天合光能昨日刚刚宣布下调营收目标。中国媒体援引中国国家发改委的话称，中国正探讨光伏产业规划，2015年光伏装机目标可望达到1,000万千瓦，2020年目标可望达5,000万千瓦，而眼下则不到100万千瓦。这些消息听起来相当靠谱，因中国近期出台的十二五规划，以发展绿色能源为重点，且中国希望为太阳能企业提供更稳定的市场环境。如果此项计划成真，中国太阳能电池板产业前景一片光明。

一句话：中国光伏产业新规划将为国内太阳能电池板企业提供新的、更稳定的收入来源。

Related postings 相关文章:

◙ LDK Looking for Cash as Sales Dry Up 赛维LDK太阳能公司销量下滑 现金接近枯竭

◙ 3M Jumping on China Solar Bandwagon 3M进军中国太阳能产业

◙ Japan Nuclear Woes Brighten Outlook for Solar Firms 日本核危机提振太阳能公司前景

It looks like China’s wireless broadband space is about to get a whole lot hotter — literally. Just a month after China Mobile (HKEx: 941; NYSE: CHL) announced a campaign to have 1 million hot spots nationwide within three years (previous post), the China Daily is reporting rival China Telecom (HKEx: 728; NYSE: CHT) has announced a similar plan to better serve the nation’s growing legions of wireless Web surfers. I previously called the China Mobile plan misguided, and I think the same is almost true for China Telecom. I say “almost”, because with China Telecom the plan makes a little more sense. Whereas China Mobile has little or no experience in this space, China Telecom has become a broadband specialist over the last few years through its fixed-line broadband offering, so presumably has more know-how in the area, both in terms of infrastructure and also in the equally important field of marketing. I still believe that most wireless broadband subscribers would rather get their service through 3G that’s available everywhere instead of via wi-fi that’s only available in select hot spots. But if anyone has a chance at succeeding in a national wi-fi network, I would give China Telecom the better odds over China Mobile.

Bottom line: I’m giving a reserved thumbs-up to China Telecom’s new wi-fi broadband campaign, but still believe it may be chasing a dead-end technology.

中国无线宽带建设不断升温。中国移动<0941.HK><CHL.N>约一个月前宣布，计划三年内将全国范围内的WiFi热点数量增至100万个。而据《中国日报》报 道，中国电信<0728.HK><CHA.N>亦宣布类似计划，以满足消费者不断升温的无线上网需求。我以前说过中国移动的计划不明智，现在我对中国电信的看法也差不多。我之所以说“差不多”，没说“完全一样”，是因为对中国电信来说，其计划的合理性略高一些，因为与中国移动不同的是，中国电信有多年的固网宽带服务经验，因此无论从基础设施还是营销来说，都算内行一些。我还是认为，多数无线网民还是宁愿通过无所不在的3G网络上网，而不会青睐热点覆盖有限的WiFi。但假设说有谁能够成功建设全国性WiFi网络，我认为中国电信成功的概率胜过中国移动。

一句话：我对中国电信的WiFi热点建设计划，持审慎支持态度。不过我还是认为，这也许是一条死胡同。

Related postings 相关文章:

◙ China Mobile Wi-Fi Play Misguided 中移动：百万WiFi热点？

◙ China Mobile Adds Alarm to Slow Growth Story　中国移动慢发展的故事上再加新警报

◙ 2011: Year of the Unicom 2011：联通的好运年

China, a key driver behind GM’s (NYSE: GM) return from the dead, may not be such potent fuel in the next year or two. The largest US automaker has released its April data for China, revealing its sales in the world’s largest auto market dipped 5 percent in for the month, following small gains in February and March. (English article) The contraction is likely to be followed by more in the months ahead as Beijing takes measures to cool the market and clear up its congested roads, boding poorly for GM’s previously announced plan to double its car sales in China over the next 5 years. Barring any new moves by Beijing to re-jumpstart the market – which seems unlikely – GM’s target is starting to look more like wishful thinking than anything attainable, forcing the global auto giant to look elsewhere for a growth story to keep its investors excited.

Bottom line: GM’s explosive China growth has hit a plateau, which, barring any new government incentives, is likely to continue for the next two years.

中国市场是帮助通用汽车<GM.N>起死回生的主要因素之一，但这一动力在未来一两年或将削弱。根据通用汽车发布的4月在华销售数据，其在华汽车销量继2月及3月小幅增加後，4月较去年同期下跌5%。由於北京采取车市降温措施，以解决交通拥堵等问题，通用汽车在华销量在未来数月可能会进一步减少，这对通用此前宣布的未来五年使在华汽车销量翻倍的计划不啻为一大打击。通用的这一目标如今看来更像是个可望而不可即的美好愿望而已，而这将迫使公司寻找其它增长市场，以保持投资者的热情。

一句话：通用汽车在中国的爆发性增长势头已经触顶，而如果政府不推出新的刺激政策，这种状况在未来两年很可能会持续。

Related postings 相关文章:

◙ China’s Green Auto Dream: A Road Paved with Problems 中国的绿色汽车之梦：前途荆棘密布

◙ BYD: Jump-Starting Stalled Sales With Auto Finance 比亚迪：试水汽车金融

◙ Honda, Guangzhou Auto Chase GM-SAIC 本田广汽“理念”将上市

Beijing must really be worried about Facebook coming to China. As you may recall, Chinese media were buzzing a few weeks ago that the global social networking giant was quietly talking to a Chinese partner about a joint venture (previous post), with some saying that partner was none other than search leader Baidu (Nasdaq: BIDU). According to one of my industry sources, Beijing, after confirming the situation, has taken the unusual step of giving Facebook three conditions which will quite simply put the brakes on any China plans it may have. The first two conditions may be less-than-ideal but still acceptable, calling on Facebook to only enter China via a true joint venture with a local partner and to locate all of that venture’s servers in China, within easy reach of local censors. But the third condition, and the real deal breaker, would call on Facebook to make any new site it sets up in Chna open to government scrutiny at all times – an unusual step even for even China. If my source is correct, and I believe he is, Facebook’s latest bid to scale the Great Firewall could be dead already, leaving the field to domestic leaders Renren (NYSE: RENN) and Kaixin.

Bottom line: China has become even bolder and more direct than before in its determination to keep global Internet giants from operating directly in its market.

中国政府一定是确实非常担心Facebook入华。你可能还记得，仅仅几周前，中国媒体还大肆报导这家全球社交网站巨擘正悄悄与一家中国公司洽谈成立合资企 业事宜，还有报导称，这家中国公司正是本土搜索巨头百度<BIDU.O>。据我的一名业内消息人士称，北京在确认了这一情况後，已采取不同寻 常的步骤，向Facebook提出三个入华运营条件，而这些苛刻条件意味着Facebook的任何中国计划都将戛然而止。 前两个条件虽然不太理想但仍算可以接受，即要求Facebook必须与当地合作夥伴成立真正的合资企业，并将该合资企业的所有服务器设在中国，以便于国内 网络审查。但真正让合作没得可谈的是第三个条件：Facebook在华创建的任何新网站都要随时接受中国政府的审查–这甚至对中国来说，也是罕见的举 措。如果我得到的消息属实，而且我也相信这是真的，那麽Facebook试图爬过”防火长城”（Great Firewall）的最新一搏可能已告失败，市场空间将留给中国本土企业人人网和开心网。

一句话：在决心阻止全球网络巨头在华直接运营方面，中国的举措正变得比以往更加大胆和直接。

Related postings 相关文章:

◙ Facebook’s China Tie Up: No Big Deal Facebook能否入华？

◙ Snaptu: Facebook’s China Back Door? Facebook在中国走“後门”？

◙ Renren Debut: Let the Volatility Begin 人人网首秀纽约：从此“动”起来？

Telecoms equipment maker ZTE (HKEx: 763; Shenzhen: 000063) has taken quite a number of body blows these days, both at home and abroad, but is determined to show it still has some fighter left in it. In a rare piece of good news for the company being sued by both global giant Ericsson (Stockholm: ERICb) and hometown rival Huawei, ZTE has landed a deal to be the primary provider of equipment to upgrade Telenor’s VAS platforms in its home Nordic markets. (company announcement) For those non-techies out there, VAS means the platforms that provide such popular services as SMS, voice mail and location-based services. In other words, this looks like a fairly substantial contract in an important market for one of the world’s top telcos. It’s interesting to note that the deal doesn’t seem to involve more substantial telecoms equipment, which means that European telcos may still be taking a wait-and-see approach to new deals with ZTE until its Huawei and Ericsson lawsuits, both filed in Europe, are settled. But in the meantime, it’s good to know that ZTE is still making products that big names like Telenor find attractive.

Bottom line: ZTE’s new deal to provide VAS equipment to Telenor is a rare piece of recent good news, but it needs to resolve its lawsuits with Huawei and Ericsson to truly move forward.

电信设备制造商中兴通讯<0763.HK><000063.SZ>近期在国内外腹背受敌，但它决心向世人表明自己仍然具备战斗力。在遭到国际巨头爱立信和国内竞争对手华为的起诉後，中兴赢得了知名跨国电信运营商挪威电信(Telenor)的一项合同，将为後者在北欧本土市场建设电信增值(VAS)业务平台。VAS包括短信、语音邮件和定位服务等热门业务。换言之，能在一个重要市场赢得一家全球顶级电信公司的大单，看来是份颇具分量的合同。有意思的是，该合同似乎并不涉及多少重量级电信设备。这也就意味着，在中兴与华为、爱立信的欧洲官司结束前，欧洲电信商可能依然对与中兴签署新协议抱观望态度。与此同时，中兴仍在制造足以吸引Telenor等大公司的电信产品，这一点令人欣慰。

一句话：中兴获得向Telenor提供VAS设备的合同是该公司最近难得的好消息，但它仍需要先解决与华为和爱立信的官司，然後才能谈得上大步前行。

Related postings 相关文章:

◙ Beijing Plays ‘Father Knows Best’ In Huawei-ZTE Spat 中国政府插手华为与中兴之争

◙ ZTE Results: Weak Link in Networks, Handset Hopes 中兴通讯财报：薄弱环节在网络设备手机有希望

◙ ZTE Pressures Ericsson With China Suit — NOT 中兴反诉爱立信

When I read the headline that Ctrip (Nasdaq: CTRP) was getting into the group buying business, my first reaction was: Here’s yet another company chasing the latest net fad to try and become the Chinese Groupon. But a read beyond the headline proved to be much more interesting, and has already turned me into a fan of this plan. (English article; Chinese article) In short, Ctrip is aiming to use its clout in the hotel space to offer group discounts for rooms at select hotels. I’m someone who frequently uses Ctrip, but increasingly I do it for the convenience and less for the good prices that seem to be rapidly disappearing as competitors emerge and the market matures. This move could bring some excitement back into the price element of the equation, and Ctrip should certainly have an edge in this space over other new group buying players due to its strong connections with most major Chinese hotels. In fact, this move fits a broader pattern that has seen Ctrip management take a much more conservative approach to new business, with the result that its new moves — while far fewer than those from the likes of Baidu (Nasdaq: BIDU) and Tencent (HKEx: 700) — often stand a much better chance of success.

Bottom line: Ctrip’s move into hotel room group buying combines a new buying trend with a product Ctrip knows well, giving the initiative a good chance of success.

当我在新闻中看到携程<CTRP.O>涉足团购业务，第一反应就是：又来一家一头扎入团购潮、一心想成中国Groupon的企业，但读了内文後更觉有趣，不禁为这个计划叫好。简言之，携程计划利用其在酒店领域的影响力，在一些特定酒店推房间团购优惠。我是携程的老客户，但更多是因携程方便，而非其价格实惠。其实随着竞争对手不断涌现、市场不断成熟，携程的价格优势正迅速消失。携程此举可以在价格上扳回一城，而且相比其他团购对手，携程与中国主要大酒店的关系更厚，优势是显而易见的。

一句话：在中国新的消费趋势下，携程在专长领域推酒店团购，应该有很好的胜算机率。

Related postings 相关文章:

◙ Ctrip Finds Growth Recipe in Restaurants 携程：进军在线订餐

◙ Lashou Pulls in More Bucks in Race With Groupon 拉手网拉来更多资金与Groupon抗衡

◙ Lashou: A New Race to Market for Homegrown China Groupon

McDonald’s (NYSE: MCD), in the unfamiliar position of being a constant runner-up in China to rival KFC (NYSE: YUM), is preparing an unusual campaign to try to narrow the gap. The new strategy involves opening more drive-through restaurants to tap the growing number of mobile Chinese with the new cars and not enough places to drive them. According to a Chinese media report, McDonald’s plans to open 700 new stores in the next two years — increasing its current count by 50 percent — with about half of those offering drive-through service. (English article) It all sounds a bit like America in the 1950s, when a newly mobile generation of post-war youth were eager to test out their new cars any way they could, leading to a boom in drive-through restaurants at that time. The comparison seems particularly appropriate for China, where many young city dwellers now own cars and are looking for inexpensive ways to use them. If McDonalds executes its plans well, its drive-through dream could very well help it to gain ground on or even pass KFC in China’s competitive fast food market.

Bottom line: McDonalds plan to open 350 drive-thru restaurants over the next 2 years looks like a smart move aimed at courting the country’s growing legions of young, newly mobile consumers.

麦当劳<MCD.N>在中国市场一直落後于肯德基<YUM.N>，如今麦当劳打算一项不同寻常的举动奋起直追。麦当劳打算通过开设更多汽车餐厅，吸引中国日益增长的有车族。据中国媒体报导，麦当劳准备在未来两年开设700家新店，其中一半店铺提供“得来速”(drive-through)服务。这都听起来有点像上世纪50年代的美国，当时战後的年轻人不愿错过任何一个驾驶新车的机会，这导致美国的“得来速”餐厅遍地开花。这一比较与中国当前情况颇为贴切，很多城市的年轻人买了车，希望以方便价廉的方式开车。如果麦当劳的计划执行良好，那麽“得来速”汽车餐厅将帮助麦当劳从肯德基手中抢夺更多中国市场份额，甚至帮助麦当劳在中国的快餐市场超过肯德基。

一句话：麦当劳打算在未来两年开设350家“得来速”汽车餐厅，吸引中国年轻的有车一族之举看起来是明智之举。

Related postings 相关文章:

◙ YUM and Little Sheep – A Sweet Match If China Approves 美国百胜购小肥羊：甜蜜姻缘还靠中国政府成全

◙ Starbucks China Expansion: New Brew Needed to Serve Up Success

◙ What’s in a Name? Plenty for Best Buy in China

In what I can only describe as a stroke of brilliant PR by China’s top two oil companies, both PetroChina (NYSE: PTR; HKEx: 857) and Sinopec (NYSE: SNP; HKEx: 386) have posted very strong first quarter numbers but also managed to draw attention to how much they’ve suffered due to high oil prices. (English article) Sinopec in particular was very creative, saying it kept down its refining losses during the quarter by relying on crude oil stockpiles it accumulated when oil prices were lower. PetroChina, meantime, relied on its crude oil business to offset its own massive refining losses. The PR blitz underscoring the problems they face comes as Chinese consumers express growing frustration with high gas prices, and as Beijing grows increasingly worried about inflation. Analysts are saying to look for Beijing to grant another price increase in the not-too-distant future, and such an increase may indeed be coming. But with crude oil prices unlikely to go much higher and perhaps even come down as the Libya situation plays out, don’t look for an inflation-worried Beijing to approve any major hikes in gas prices anytime soon.

Bottom line: PetroChina and Sinopec have launched an effective PR campaign to highlight losses from their refining operations, but don’t look for any major gasoline price hikes from Beijing.

中石油<0857.HK><601857. SS>和中石化<0386.HK> <SNP.N>一季度财报喜人，但却成功地让大家注意到他们的炼油业务是如何饱受油价飙升之苦的。我只能说，这是一个高明的公关策略。中石化尤其有创意，称其一季度控制住炼油业务亏损原因靠的是在油价较低时囤积的原油库存。中石油则同时宣称，依赖原油业务抵消了炼油业务的大幅亏损。在中国消费者对高油价日益不满，中国政府对通货膨胀日益担心之际，这两家公司的公关策略凸显了两家公司所面临的问题。分析人士表示，估计在不久的将来，中国政府将批准燃料油再次涨价。但实际上在原油价格不大可能变得更高，而且随着利比亚动荡的局势趋向平稳，甚至可能会下跌。因此别指望中国政府允许油价大幅度提升。

一句话：中石油和中石化的公关策略卓有成效，强调了其炼油业务的亏损，但别指望中国政府会允许油价大幅上涨。

Related postings 相关文章:

◙ Sinopec Fights Back With Feeble PR Blitz 中石化公关仍不到位

◙ Sinopec Scandal Points to Big Oil Crackdown 中石化：“天价酒”事件实为敲山震虎？

◙ PetroChina Gets in Bed wtih Saudis to Secure Oil Supplies 中石油的沙特“情缘”