NEWS: ASIA PACIFIC
Hong Kong and China harmonise cross-border trade
Hing-Fung Wong, the transparency of pricing of
communications manager goods, making trade between
at the Hong Kong Monetary Hong Kong and the mainland
Authority, told Pathfinder easier.
Business: “This is an experiment Hong Kong chief executive
that will promote the use of Donald Tsang said: “The
renminbi outside mainland initiative will bring about
China,” he said. “The new business for the banking
status of Hong Kong as an sector in Hong Kong. Banks
international financial centre can extensively expand
.com/Ekash will be enhanced. Importers and their renminbi services
kphoto exporters in Hong Kong and from individual clients and
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the mainland using renminbi enterprises.”
Business between Hong The pilot programme will to settle trade transactions can The HKMA is now working
Kong and China is set to be be the first time that renminbi avoid exchange costs relating closely with the People’s
boosted following a decision will have been used to settle to settlement in US dollars or Bank of China to “facilitate
by the State Council to use the trade transactions through Hong Kong dollars.” timely completion of technical
renminbi currency for cross- the banking system outside He added that the use of preparations” for an early
border trade. mainland China. renminbi could also enhance launch of the programme.
CHINA UPDATE
Maiden fligHt for The report Understanding focus on this strategy to get more
tianjin airbus China’s Manufacturing of the market share.”
On 19 May the first A320 Value Chain highlights the HP is the largest foreign
aircraft assembled by Airbus country’s development of new computer manufacturer in China
orld
Tianjin Final Assembly Line China manufacturing capabilities.
w
with 13.7% of the total market
(FALC) successfully completed its share. HP expects sales growth in
maiden flight. It lasted a total of CoCa Cola invests
.com/Sofia
China to move more from large
four hours and fourteen minutes. in CHina
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cities to second tier ones, and
“This A320 assembled in China
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to rural areas where computer
unquestionably demonstrated the According to Chen ownership is still rare.
same quality and performance as Guangming, of the capital’s In October 2008 HP opened
those assembled and delivered Municipal Commission of a manufacturing plant in
in Hamburg or Toulouse,” said Development and Reform: “The Chongqing and in April this year
Fernando Alonso, Senior Vice regulations will provide privileges announced plans to establish
President Flight & Integration and conveniences in taxation and 100 computer centres in western
Tests, Airbus. foreign exchange management rural areas. This follows on a
The aircraft manufacturer is for foreign workers in China. This government decision to offer a
also proud to claim it can provide is to attract more multinational 13% subsidy for rural consumers
the best aircraft “while applying corporations to invest in Beijing.” to buy home appliances, a
the same rules, procedures and Coca Cola will invest $2bn in the The minimum accumulated decision which has been extended
quality standards as for any China market over the next three registered capital required to to personal computers.
other Airbus aircraft produced in years and expects to maintain establish a regional HQ has been
Europe.” double-digit growth. China is the lowered to $10m from the $30m
Sichuan Airlines will operate drink maker’s third largest market figure set in 1999.
this first aircraft. Eleven A319/ after the US and Mexico. This
A320 aircraft are scheduled for fresh investment will exceed its Hp to produCe low-
delivery in Tianjin during 2009. total investment in China since Cost CoMputers
1979, which stands at $1.6bn. US computer giant Hewlett-
growtH Packard is to start production
opportunities Capital offers fdi of low cost computers and
Opportunities for companies inCentives notebooks aimed particularly at
and universities in key sectors Beijing City Government has rural and less developed areas
including pharmaceuticals, white announced new regulations within China. The notebooks
goods and TFT-liquid crystal to attract more multinational would offer ‘wi-fi’ access in any
display are available in China, corporations to set up their area where there is a cell phone
according to a new report from regional HQs in the capital, signal. See Chin Teik, HP Vice
.com/Biscut
the UK’s Cambridge University replacing regulations in force President for Asia Pacific and
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Institute for manufacturing. since 1999. Japan, explained: “We want to iStoc
PAthFINdEr buSINESS l JUNE/JULY 2009 7
PBS12 pp04-11 Comment+News.indd 7 8/6/09 12:47:29
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