The following press releases and media reports about Chinese companies were carried on December 31. To view a full article or story, click on the link next to the headline.
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China to Increase Wind, Solar Power Capacity by 21 Pct in 2016
McDonald’s (NYSE: MCD) Supplier OSI China Trial Concludes in Shanghai (English article)
China Investment Corp (CIC) Sells Down SMIC (HKEx: 981) Stake (HKEx announcement)
Hareonsolar De-listing Risk Up After United PV (HKEx: 686) Acquisition Hits Obstacle (Chinese article)
China Telecom (HKEx: 728) Announces Resigation of Chang Xiaobing as Chmn, CEO (HKEx announcement)
The following press releases and media reports about Chinese companies were carried on December 4. To view a full article or story, click on the link next to the headline.
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China’s CGN Power Prices Hong Kong IPO At Top Of Range, Raises $3.2 Bln (English article)
JD.com (Nasdaq: JD) Announces Pricing Of Secondary Offering Of Its ADSs (PRNewswire)
Meat Supplier OSI Says Six China Workers Arrested (English article)
ICBC (HKEx: 1398) Markets Record Offshore Yuan Bond Sale Amid Currency Push (English article)
China Mobile (HKEx: 941) Selling 617 4G Devices 1 Year After Launch Of TD-LTE (Chinese article)
Most of the recent flood of probes against foreign firms have been of the civil variety, resulting in stiff fines for anti-competitive behavior but few or no criminal charges and prison time. But that trend could be changing, with officials at car maker Volkswagen (Frankfurt: VOWG) and a former major meat supplier to McDonald’s (NYSE: MCD) and KFC (NYSE: YUM) being probed or charged with crimes that could end with lengthy prison terms. It’s probably still too early to say if criminal charges against executives at major multinationals will become a trend. But if it does, it could certainly send a new chill into China’s rapidly worsening relationship with western businesses and governments. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 24. To view a full article or story, click on the link next to the headline.
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McDonald’s (NYSE: MCD) Sticks By Meat Supplier OSI After Yum Severs Ties (English article)
SAIC (Shanghai: 600104), Alibaba Partner In Internet Car Initiative (Chinese article)
First Foreign-Invested Hospital Approved, Obstacles Remain (Chinese article)
Phoenix Satellite TV (HKEx: 2008) Announces Profit Warning (HKEx announcement)
Lenovo (HKEx: 992) To Launch, Air Purifiers, Other Smart Devices (Chinese article)
It’s been more than a year since a major food safety scare hit western fast-food operators in China, so we were probably overdue for the latest scandal that is now consuming leading chains KFC (NYSE: YUM) and McDonald’s (NYSE: MCD). Frankly speaking, Chinese consumers are probably so jaded about food safety scandals by now that I don’t know if these latest 2 will really have much long-term impact on either company.
The most disgraceful element this time is the fact that the supplier at the heart of the latest scandal is a foreign-owned firm. Up until now, most of the suppliers who provided tainted food to big foreign supermarkets and restaurant chains were domestic Chinese firms, which usually have lower quality control standards. Thus this latest scandal could really do some damage to the broader image of foreign-owned companies, which are generally seen as more trustworthy than their Chinese peers. Read Full Post…
