The recent wave of labor unrest at big multinational factories has taken a step into China’s heartland, with word that hundreds of workers at a Shanghai plant operated by toilet giant Toto (Tokyo: 5332) went on strike last week. But the unrest was reportedly short lived, with the strike lasting just 3 days before the workers agreed to go return to their jobs. The strike and its rapid resolution reflects growing boldness among workers to demand better working conditions, which looks worrisome not only to employers but also to Chinese officials obsessed with maintaining public order. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 26-28. To view a full article or story, click on the link next to the headline.
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China Budget Airline Spring Plans $400m IPO In Shanghai (English article)
Cheetah Mobile Announces IPO Price Range, To Raise Up To $200 Mln (Chinese article)
Yingli (NYSE: YGE) Announces Pricing Of Offering of 25 Mln ADSs (PRNewswire)
Suning (Shenzhen: 002024) To Exhibit Google (Nasdaq: GOOG) Glass In China (English article)
Many Return To Work After Yue Yuen (HKEx: 551) Offer In China Strike (English article)
A time of year typically known for labor unrest is taking a worrisome twist, with major new strikes occurring at top microwave oven maker Galanz and shoe making giant Yue Yuen (HKEx: 551), whose clients include Nike and Adidas. These latest signs of labor unrest in the important Pearl Delta manufacturing hub come just weeks after workers staged another strike at an IBM (NYSE: IBM) factory being sold to Chinese PC leader Lenovo (HKEx: 992). The fact that these industry leaders are seeing such major problems so early in the year hints at even bigger problems for smaller factories, which are struggling under the weight of soaring costs and sagging export orders. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 16. To view a full article or story, click on the link next to the headline.
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Nike Shoemaker Yue Yuen (HKEx: 551) Says 1,000 China Workers On Strike (English article)
JD.com Submits New Forms To SEC, To Trade Under Symbol JD (Chinese article)
Alibaba Profit Grows Ahead of Initial Public Offering (English article)
Online Recruitment Firm Lietou.com Lands $70 Mln Series C Funding (English article)
Private Aircraft Operator NetJets Nearing Official Launch In China (Businesswire)
