Articles by Dezan Shira & Associates on ArticleSnatch.com

Indiaâs Supreme Court Sets Corruption Bill Deadline

Mon, 06 Feb 2012 21:37:00 -0500

India’s Supreme Court has put pressure on the government to commit to making a decision within four months on whether a public official can be prosecuted for corruption. If a consensus has not been reached by then, prosecution will be considered sanctioned by India’s highest court, the BBC reported. The announcement comes after a long and highly publicized corruption scandal involving former Telecommunications Minister A. Raja. The Janata Party Leader Subramanian Swamy sought prosecution of Raja, who was one of 14 people charged over allegations of mis-selling telecom licenses, which auditors have said cost the country an estimated US$40 billion. The scandal is one of many which has plagued the Indian government in recent years and will be viewed as a setback in the fight against corruption. Although a previous Delhi High Court ruling had rejected the prime minister’s request for guidance on such prosecutions, the Supreme Court ruled that filing a complaint under the Prevention of Corruption Act was a constitutional right that required a response within a set timeframe. Justices GS Singhvi and AK Ganguly ruled in favor of Swamy’s petition. **End Summary** Topics: India]]> Business]]> Foreign Investment]]> Regulation]]>]]> About the Author: ]]> This article was written for Asian commentary site site, 2point6billion.com. Dezan Shira & Associates specialise in foreign direct investment in China , and maintain accountants in Shanghai , Beijing and other major cities.

Indian Supreme Courtâs Telecom Verdict Damages National Interests

Mon, 06 Feb 2012 20:45:00 -0500

Decision goes beyond court’s purpose, punishes wrong people, hurts international image, and will raise prices for Indian consumers One day they’ll make a film about this case – corrupt bidding, jailed ministers, a vindictive judge and a cast of 80 million telecom subscribers. India’s Supreme Court on Thursday axed all 122 2G telecom licenses and forced a new bidding process on a government-approved tender that saw both domestic and international telecom investors spend billions on rolling out 2G telecom networks on a national scale serving some 60 million users. Those networks are now to be dismantled within four months. As anyone familiar with conducting business in emerging markets knows, often it’s a case of two steps forward and one step back. It’s a frustrating process, but one gets there in the end. Yet in this case, the Supreme Court has taken upon itself to not just challenge the government, but to also mete out punishments in the form of fines to operators who thought they were acting in good faith; placing itself in the position of authority as determining market prices and effectively ending India’s benefit of having the lowest mobile phone user costs in the world. **End Summary** Topics: India]]> Business]]> Foreign Investment]]> Regulation]]>]]> About the Author: ]]> This article was written for Asian commentary site site, 2point6billion.com. Dezan Shira & Associates specialise in foreign direct investment in China , and maintain accountants in Shanghai , Beijing and other major cities.

Norway May Halt Chinaâs Arctic Council Ambitions

Mon, 30 Jan 2012 23:19:23 -0500

Norway could block China’s attempts to gain permanent observer status on the increasingly relevant Arctic Council due to a souring of relations between the countries over the last few years, according to a report on Wednesday in Aftenposten – Norway’s largest newspaper. “As long as the Chinese authorities refuse to speak to their Norwegian counterparts, it will be difficult for Norway to say yes to a (Chinese) candidacy to become a permanent observer on the Arctic Council,” an unidentified “highly-placed diplomatic source” told the paper. Neither Norway nor China has made any official comment on the issue. “I can neither confirm nor deny this story, but I can say bilateral contacts between Norway and China are at a low level,” Karsten Klepsvik, the senior Arctic official at the Norwegian Ministry of Foreign Affairs, told the Guardian. Although Norway had previously suggested that it was in favor of China’s observer status during Foreign Minister Jonas Gahr Soere’s visit to Beijing in August 2010, bilateral relations began to deteriorate in October later that year when the Norwegian Nobel Committee awarded Chinese dissident Liu Xiaobo the Nobel Peace Prize. **End Summary** Topics: China]]> Business]]> Foreign Investment]]> Regulation]]>]]> About the Author: ]]> This article was written for Asian commentary site site, 2point6billion.com. Dezan Shira & Associates specialise in foreign direct investment in China , and maintain accountants in Shanghai , Beijing and other major cities.

Thailand Floods Raise Doubts Over Industrial Clustering in Asia

Wed, 16 Nov 2011 02:04:37 -0500

One month after flooding finally hit Thailand’s industrial zones, Honda’s managers are still riding on rubber boats to their mega-plants in central Thailand, passing the tops of cars submerged in a meter and a half of fetid flood water. The sustained flooding in Thailand that began in July with heavy monsoon rains lasting more than three months has prompted manufacturers in the country to reevaluate the distribution of their production bases. Specifically, businesses are questioning the viability of concentrating in emerging markets that feature cheap labor given that many such regions are also vulnerable to natural disasters. With one quarter of the world’s external hard disk drives and a significant number of auto parts being churned out of Thailand, even smaller enterprises clustered in Thailand’s industrial zones have expressed doubt about the advantages of agglomeration. While Bangkok remains the country`s commercial and financial center, it is the seven large industrial estates built in the central provinces of Pathum Thani and Ayutthaya – regions inundated with one meter-plus floods for over two weeks – that are the foundation of Thailand`s manufacturing sector. **End Summary** Topics: Thailand]]> business]]> flooding]]> Asia]]> investment]]>]]> About the Author: ]]> Read the rest of this article by Cindy Tse at the China and India news site 2point6billion.com. For help with foreign direct investment in China or India, contact the FDI China experts at Dezan Shira & Associates.

Pollution Concerns Grow Alongside Economy in China

Fri, 04 Nov 2011 05:16:40 -0400

Over the past few years, growing environmental pressure in China has forced the country to finally look into such issues as people residing near heavy industrial clusters continue to suffer from air, water and soil contamination. At the ninth “Science and Technological Week” held by the Guangdong Provincial Association for Science and Technology earlier this month, Wang Xiwen, an expert from the Chinese Academy of Engineering, gave a lecture about the seriousness of food security in China. According to Wang, heavy metal pollution is currently endangering some 300 million acres of farmland across China, equal to roughly one-sixth of all cropland in the country. Only 11 percent of farmland in Guangdong Province is considered to be free from contamination. “The pollution in coastal regions is much heavier,” Wang said. “The metals mercury, cadmium and copper are the main contaminants. Now the heavy metal contamination is growing in the same speed as our economic development, which means the more our country is developed, the more dangerous our environment will be, especially in the Zhejiang, Jiangsu, Guangdong and Liaoning provinces. **End Summary** Topics: China]]> environment]]> science]]> technology]]> ]]>]]> About the Author: ]]> This article was written for 2point6billion.com, a site established by Chris Devonshire-Ellis . Chris is also the founder of Dezan Shira & Associates, experts in FDI China and tax in China .

Is the United States a China Business Alternative?

Fri, 04 Nov 2011 04:50:06 -0400

China is gradually shifting away from its position as the world’s default production base for manufacturers. In this country, factor costs are surging and government incentives for foreign investors are diminishing, forcing more and more companies to seek new and attractive destinations where they can relocate their factories. While emerging Asian countries boasting low overhead costs – such as India, Vietnam, Thailand and Indonesia – are undoubtedly attracting mounting attention, the United States is also growing back into an increasingly reasonable option for manufacturing, according to an intensive study conducted by the U.S.-based advisory firm The Boston Consulting Group (BCG). The BCG report, which suggests manufacturers take “a hard, fresh look” at the United States, pointed out that China’s manufacturing cost advantage over the United States is shrinking fast due to Chinese labor becoming more expensive and local currency gaining value while productivity is not catching up as rapidly. When making their investment decisions, investors should take total costs – rather than only labor costs – into consideration and choose manufacturing locations based on product-by-product analyses. **End Summary** Topics: China]]> manufacturing]]> business]]> ]]>]]> About the Author: ]]> You can read the rest of this article by Vivian Ni at the China business news site, China-Briefing.com. It is contributed to by Dezan Shira & Associates, the experts in tax in China , they can help foreign companies do business in China .

Chinaâs WWW Policy â Access Only through Chinese Servers

Wed, 19 Oct 2011 08:05:22 -0400

Spending the National Holiday week relaxing in Beijing, one thing that became immediately apparent was the worsening of connections to the worldwide web. Overseas web sites that were previously always accessible are now erratic in terms of performance, and even our webmail server (based in the United States) has had access problems. The web access situation began to worsen at the beginning of the year, itself a slow downgrade from the so-called “freedom of access” promised by China for the 2008 Beijing Olympics. Indeed, one of the Olympic legacies was intended to be greater opening of China’s internet to the world. It’s hard to say that the Olympics did not succeed, but the event turned out to be more of a platform to promote the legitimacy of China’s one party state than one bringing a lasting legacy of openness. Since 2008, the ability to access the internet in China has increasingly come under state control. Nowadays, just typing into state-friendly search engines (such as Microsoft’s Bing for example) carries a caveat: “Due to legal obligations imposed by Chinese laws and regulations, we have removed specific results for these search terms.” My attempted search? “Beijing Olympics. **End Summary** Topics: technology]]> internet]]> firewall]]> investment]]>]]> About the Author: ]]> This article was written by Chris Devonshire-Ellis , for the China business news site, China-Briefing.com. Chris is also the founder of the FDI China advisory firm, Dezan Shira & Associates.

India, Vietnam Becoming Cheaper China Alternatives

Wed, 19 Oct 2011 08:02:26 -0400

The days of getting the cheapest stuff made in China are coming to an end. The increase in wages resulting from China’s effort to promote social security among all of its 1.3 billion people, coupled with the surge in property prices, is making the market a less ideal option for low-cost manufacturing. Instead of China, other countries such as India and Vietnam are beginning to become more attractive alternatives where costs of manufacturing operations appear to be much lower. Chris Devonshire-Ellis, principal of Dezan Shira & Associates, recently calculated and compared the manufacturing costs in the three countries during an interview with South Africa’s largest weekly newspaper The Sunday Times. According to Devonshire-Ellis, if an employer based in China’s Dongguan hires about 300 workers, and pays off various monthly overheads such as welfare costs and rental, his/her annual expenditure will stand at around US$2.28 million. In contrast, a similar type of factory in Vietnam’s Ho Chi Minh City will only cost an employer about US$650,400 annually, and the annual operation costs of the same factory in India’s Chennai will even be lower at US$345,782. “It’s a big enough gap to consider. **End Summary** Topics: business]]> investment]]> India]]> Vietnam]]> China]]> outsourcing]]>]]> About the Author: ]]> Chris Devonshire-Ellis can also be found on his personal blog. For more information about doing business in India , China or Vietnam, contact Dezan Shira & Associates, who have been helping clients do business in China for 20 years.

China May Increase LCD Panel Tariff to 8%

Wed, 12 Oct 2011 08:45:58 -0400

China may lift import duties on LCD panels in order to motivate domestic LCD panel manufacturers and attract more foreign direct investors to build production lines in the country, according to a report by Right Site Asia, an online Asian industrial information platform. The tariff rate may jump to 8 percent from the current 5 percent. China’s Ministry of Industry and Information Technology announced fiscal and policy support for domestic panel production back in 2008 in a bet to reduce the country’s heavy reliance on LCD panel imports from Japan and Taiwan. If the government approves the tariff hike this time, a number of traditional LCD exporters to China will likely lose competitiveness in prices. However, on the other hand, the tariff increase is expected to largely encourage those enterprises that already have their own production lines in China. Both China’s BOE Technology Group and China Star Optoelectronics Technology have put their fresh 8.5-Generation LCD panel plants into production recently, leading the whole industry to step into a new era where the country’s demand for LCD panels larger than 32 inches is no longer completely dependent on imports. **End Summary** Topics: China]]> business]]> investment]]>]]> About the Author: ]]> This article was written for the China business news site, China-Briefing.com. The site was founded by Chris Devonshire-Ellis , who also founded Dezan Shira & Associates, who help foreign companies do business in China .

Vietnam Reforms the Law of Foreign Employment in the Country

Tue, 04 Oct 2011 02:48:24 -0400

On June 17 of this year, the Vietnamese government issued Decree n.46/2011/ND-CP (effective from August 1, 2011) amending and supplementing Decree n.34/2008/ND-CP dated March 25, 2008 on the employment and administration of foreigners working in Vietnam. The new legislation aims at improving the ineffective implementation of foreign labor regulations with strong regard to the working permit requisite. In fact, the newly called “expats” (foreigners) are entitled to work in Vietnam if they meet all profile requirements listed in Article 3 paragraphs 1, 2, 3 and 4. Namely, the individual is a minimum 18 years of age; in good health; holds a manager, director or expert position; and has no criminal record for national security offense. Secondly, the individual must succeed to carry out the epic administrative process to get a permit, which includes the obtainment of legal certificates of no criminal activities from all former countries of residence (Art.4.2.b). However, Decree n.46/2011/ND-CP (hereinafter “the Decree”) makes few, but significant steps to accelerate the whole procedure thanks to major deadline revisions (now 10 days instead of 15 for granting permits, same for extension inquiries, and 3 instead of 15 for re-issuance cases). **End Summary** Topics: Vietnam]]> business]]> investment]]> ]]>]]> About the Author: ]]> You can read the rest of this article by Francesca Grassi on Vietnam Business at Vietnam-Briefing.com. The site is contributed to by the Vietnam Business experts at Dezan Shira & Associates who help foreign companies with FDI Vietnam .

Roles and Responsibilities of the China Legal Representative

Tue, 04 Oct 2011 02:44:58 -0400

Every business established in China, whether domestic or foreign, is required to have a legal representative. He/she is the main principal of the company and is the employee with the legal power to represent – and enter into binding obligations on behalf of – the company in accordance with the law or articles of association of the company. Essentially, the legal representative is someone who is appointed to act on the company’s behalf and Article 38 of the General Principles of Civil Law of the People’s Republic of China defines the role as the “responsible person who performs the duties and powers on behalf of a legal person in accordance with the law or the constituent documents of the legal person.” However, foreign investors often have only a limited understanding of the legal representative’s role and are startled when they learn of their power and how difficult it is to replace an un-cooperative one. Legal representatives possess broad powers and potentially unlimited liability. When concluding a contract a legal representative’s acts are binding on the company even if he/she is acting beyond their authorized scope. **End Summary** Topics: business]]> China]]> investment]]>]]> About the Author: ]]> You can read the rest of this article about China business by Nicholas Hughes, at China-Briefing.com. The site is contributed to by the FDI China experts, Dezan Shira & Associates who help foreign companies with tax in China

China To Monitor WiFi Access

Tue, 02 Aug 2011 01:08:46 -0400

Government authorities in Beijing have ordered public places – such as restaurants, bars, hotels and book stores – offering free Wi-Fi access to install expensive monitoring software, state media has said. “Public places with wireless internet access shall implement security protection measures in accordance with Laws,” the Beijing Security Bureau in Dongcheng District said in an announcement in June. To Beijing’s store owners and Wi-Fi users – consisting primarily of businessmen and young people – the regulations are disastrous. The so-called “security protection measure” is monitoring software, which records and keeps detailed information of Wi-Fi users, including the time of log-in and log-out, account numbers, a list of the web sites and domain names visited by users, and the system maintenance log. The system costs at least RMB20,000 (US$3,100) to install, and the establishment owners are expected to foot the bill. Those who refuse to install the software and continue proving wireless services may face a minimum fine of RMB5,000 (US$775), reports said. After the regulation came into force in Beijing, some business owners have opted to shut down the wireless due to the high cost, or simply based on principle. **End Summary** Topics: internet]]> business]]> China]]> technology]]>]]> About the Author: ]]> You can read the rest of this article about China's internet regulations at 2point6billion.com. The site was established by the FDI China consulting company, Dezan Shira & Associates, who help companies do business in China

India's Online Market Attracts Amazon

Tue, 02 Aug 2011 01:05:04 -0400

The boom in India’s electronic commerce market, together with the recent relaxation in investment regulations for foreign retailers, has tempted the world’s largest retailer Amazon to enter the populous market. Currently in the process of staff recruitment and partnership negotiations, the Seattle-based company may start operations in India as early as the first quarter of next year, says a report by the Times of India (ToI). It is reported that Amazon has already hired several key figures for its Indian team and its human resource representative also posted recruitment advertisements on Twitter last month. It may be looking to build a team of over 200 people, and the hiring will be conducted mainly in the southern Indian cities of Chennai, Bangalore and Hyderabad. Since Amazon’s entry to India will require a local partner in accordance with the country’s related investment regulations, people are still speculating who will be cooperating with the online retailer giant in the end. While ToI said Amazon is in discussions with several Indian e-commerce majors such as Flipkart.com, LetsBuy.com and Exclusively. **End Summary** Topics: India]]> ecommerce]]> business]]> investment]]> technology]]> retail]]>]]> About the Author: ]]> You can read the rest of this story about business in India at India-Briefing.com. The site was established by Dezan Shira & Associates, who provide India FDI consulting and maintain accountants in India .

US To Deport China's Corrupt Fugitives

Tue, 02 Aug 2011 01:02:13 -0400

Chinese government officials and state-owned enterprise (SOE) leaders charged with corruption may not find the United States a safe haven for them to flee to anymore, despite the lack of an extradition treaty between the two countries. A senior U.S. official recently said the United States will be working together with China to repatriate Chinese fugitives wanted for graft, according to a Reuters report. During his five-day Beijing visit last week with a focus on anti-corruption and commercial rule of law issues, U.S. Department of Commerce General Counsel Cameron Kerry complimented the current cooperation between Chinese and U.S. prosecutors on repatriating graft officials or their illegally-obtained assets. He also said prosecutors from both countries are looking to have more cooperation on various cases in the future, including investigations into bribes paid to Chinese officials by U.S. companies under the U.S. Foreign Corrupt Practices Act. Although there is no extradition treaty between China and the United States so far, some other domestic legal mechanisms can be used to pursue and repatriate fugitives, according to Kerry. **End Summary** Topics: politics]]> USA]]> China]]> Business]]>]]> About the Author: ]]> Read the rest of this article by Vivian Ni at the China business news site, China-Briefing.com. The site was established by the founder of the China FDI advisory firm, Dezan Shira & Associates, which maintains accountants in China and Hong Kong.

Micro Lenders in India to be Regulated

Thu, 14 Jul 2011 23:07:53 -0400

The Indian government recently proposed to establish a new law in order to better regulate the country’s microfinance industry that is faced with complaints of aggressive lending practices and high interest rates. Aiming to bring various microfinance institutions (MFIs) under the regulation of the Reserve Bank of India (RBI), the proposed law is expected to strongly impact smaller players who look for large profit through their lending businesses. According to reports, the draft bill proposed that all entities involved in micro-finance activity should obtain a registration certificate from the country’s central bank: the RBI. Non-bank micro-lending companies that have provided a minimum of Rs.500,000 in net owned funds can get registered within three months when the law takes effect. The new law may also require some systemically important MFIs to be converted into section-25 companies – one of three forms of non-profit organizations in India legalized under the country’s Companies Act in 1956. As the common regulator, the RBI is empowered to restrict interest rates on loans, prescribe various rules, and conduct risk assessments. **End Summary** Topics: Asia]]> business]]> Fortune 500]]> investment]]>]]> About the Author: ]]> This story about India micro lenders was written for the India business news site, India-Briefing.com. The articles are contributed to by Dezan Shira & Associates who assist MNC's with FDI India .

Emerging Asian Companies Take a Larger Cut in Fortune 500 Rankings

Thu, 14 Jul 2011 23:07:01 -0400

While U.S. companies still dominate Fortune magazine’s most recently released annual ranking of the world’s 500 largest companies by revenue, Chinese and Indian companies have significantly expanded their presence and influence. A total of 61 Chinese companies and 8 Indian companies now have their names on the list. Energy companies from emerging Asia continue to stand out on the list. Among the top 10 companies, China’s energy giants Sinopec Group and China National Petroleum are ranked fifth and sixth respectively, with each company’s annual revenue surpassing US$240 billion. Another Chinese energy-related enterprise State Grid – which is the country’s largest electric power transmission and distribution company – is ranked seventh. Half of the eight Indian companies that have seen their names in the list are the country’s state-owned oil and gas companies. Indian Oil – which reports last year’s revenue at US$68.8 billion – has stepped into the top 100 list this time, ranked 98th after rising from last year’s No.125. The other three oil company names are Bharat Petroleum, Hindustan Petroleum and Oil and Natural Gas, which occupy 272nd, 336th and 361st on the list, respectively. **End Summary** Topics: business]]> fortune 500]]> investment]]> finance]]>]]> About the Author: ]]> To read the rest of this article about business in China , at the China business news site, China-Briefing.com. The articles are contributed by Dezan Shira & Associates who help MNC's with accounting China .

Doing Business in Myanmar

Thu, 14 Jul 2011 23:06:12 -0400

Myanmar, also known as Burma, has long had its share of political and economic turmoil. This began with British colonial rule in the mid-19th Century, leading to its struggles as an independent state after the Second World War, which culminated in its contemporary regulations under the nation’s military juntas. In spite of a tumultuous history, Myanmar has recently begun a string of new reforms, and has been refurnishing itself to become an established area of growth for foreign investment. In terms of land mass, Myanmar is the second-largest country in Southeast Asia after Indonesia, and the largest on the area’s mainland. The country shares borders with the People’s Republic of China to the northeast, Bangladesh on the west, Thailand and Laos to the east, and India on the northwest. With a population of approximately 54 million, it is the 24th most populous nation in the world. An estimated 89 percent of its people practice Buddhism, while smaller groups adhere to Islam and Christianity. With a population of approximately 4.26 million, Yangon is Myanmar’s largest city, and is the country’s main hub for trade, industry, culture and media. **End Summary** Topics: Myanmar]]> burma]]> business]]> manufacturing]]> investment]]>]]> About the Author: ]]> You can read the rest of this article by Simon Sheung about doing business in Myanmar at the China business news site, China-Briefing.com. The site is contributed to by the FDI China experts at Dezan Shira & Associates.

India Considers Liberalising FDI in Retail and Defense

Wed, 06 Jul 2011 22:33:44 -0400

According to the Finance Minister of India, recent FDI policies have become more user-friendly, as all previous regulations and guidelines have been consolidated into one comprehensive document that is now reviewed every six months. The Finance Minister said that this has been done to enhance the clarity and accessibility of our FDI policy to foreign investors. The Minister also affirms that possession and control are now central to the FDI policy, and that the methodology in maintaining these aims has been more clearly defined. Furthermore, the Finance Minister explained that discussions are also underway to build consensus on the further liberalization of FDI policy in the retail and defense sectors. In addition, proposals have been made to further liberalize the pricing and payments of technology transfer fees, trademarks, brand names and royalties. In an effort to facilitate investment opportunities in India, the government also decided to permit Indian mutual funds to directly draw investments from overseas investors who meet the “Know Your Customer” (KYC) guidelines. Previously, this privilege was only available to Foreign Institutional Investors (FIIs) and their sub accounts. **End Summary** Topics: India]]> business]]> investment]]> defense]]> retail]]> finance]]>]]> About the Author: ]]> This article was written for the India business news site, India-Briefing.com. The stories are contributed to by India FDI advisors, Dezan Shira & Associates, who provide tax, audit and accountants in India .

Baidu Cooperates with Microsoft Bing

Wed, 06 Jul 2011 22:32:01 -0400

Aiming to make more of a global impact, China’s local search engine Baidu is going to power its English-language search results through a cooperation agreement with the Microsoft-developed search engine Bing. It is reported the two companies have already signed a deal and will launch the new search product later this year. According to a report on the digital news web site paidcontent.org, the new Baidu-Bing relationship means English-language searches on Baidu will automatically trigger Bing results. Currently, English key word searches yield Chinese results on Baidu’s page. Baidu’s Assistant President Zhang Dongchen is confident that the two IT giants’ cooperation, combining each other’s latest technology, will provide the best search experience for users. Zhang also mentioned the English language search product will “help Baidu’s expansion in the international market.” Currently boasting a market share of some 75 percent in China, Baidu is said to be able to serve a rapidly growing market with 450 million internet users so far with its new function of providing search results in English. The company’s Chief Executive Officer Li Yanhong also hopes to see 70 percent of income generated from overseas markets by 2025. **End Summary** Topics: Baidu]]> China]]> Microsoft]]> Internet]]> Search Engines]]>]]> About the Author: ]]> This story was written for the China and India news site, 2point6billion.com, which is contributed to by Dezan Shira & Associates who assist MNC's with FDI China . Dezan Shira provides a range of services including tax, audit and accounting in China .

China as a Role Model for Green Economic Development

Mon, 30 May 2011 23:22:14 -0400

The 3rd Nobel Laureate Symposium on Global Sustainability was held in Stockholm, Sweden on May 18 with the aim of preparing a document to be presented during the World Conference on the Environment which, exactly 20 years after its debut, will take place next year in the city that hosted it for the first time – Rio de Janeiro. Among the event’s distinguished participants was former Norwegian Prime Minister Gro Harlem Brundtland, who is famous for coining in 1987 the often-quoted definition of sustainable development as: “Development which meets the needs of the present without compromising the ability of future generations to meet their own needs.” In an exclusive interview with Xinhua on the sidelines of the May 18th event, the three-time Norwegian prime minister and former head of the World Commission on Environment and Development congratulated China on its efforts towards a greener economy, saying that the emerging Asian giant represents an example to follow in a world which has seen very few improvements on sustainability from the time when she directed the work of the Commission. **End Summary** Topics: China]]> business]]> environment]]> politics]]> power]]> solar]]> energy]]>]]> About the Author: ]]> Read the rest of this article about Green business in China by Tommaso Carnaroli at China-Briefing.com. China-Briefing.com was founded by Dezan Shira & Associates who help foreign companies do business in China and maintain accountants in China and India

China Tops Economic Momentum Index

Mon, 30 May 2011 23:18:47 -0400

China, India and Vietnam were ranked the top three emerging Asian nations most likely to maintain steady and rapid economic growth over the next five years, according to Bloomberg’s Economic Momentum Index for Developing Asia. The index regularly assesses and rates 22 emerging Asian economies based on a number of key factors that contribute to market growth. Market competitiveness, labor force quality, gross national savings as a percentage of GDP, and the growth of high-technology exports each account for 10 percent of the index rating. Weightings of 5 percent each are given to growth in GDP per capita, growth in world share of GDP, inflation stability, diversity in trading partners, debt burdens, lending costs, FDI, deforestation, and four “cohesiveness factors” including ethnic and religious homogeneity, income equality, rates of urbanization and poverty reduction, and variation in the jobless rate. China topped the ranking system with a score of 76.2 percent, followed by India in second at 64.1 percent, and Vietnam in third with a score of 61.9 percent. Gross domestic product in each of the three countries averaged quarterly growth of at least 5. **End Summary** Topics: China]]> India]]> Vietnam]]> Asia]]> Business]]> Investment]]>]]> About the Author: ]]> This article on China FDI was written for 2point6billion.com, which is contributed to by Dezan Shira & Associates, who help foreign companies do business in China , India and Vietnam. For accountants in China , India or Vietnam, contact Dezan Shira & Associates.

China Outperforms India in Improving General Health Conditions

Fri, 20 May 2011 00:58:12 -0400

A recent World Health Organization (WHO) report shows that China has outperformed India in improving general health conditions of its citizens during the past decade by reporting less infectious disease cases, having a wider coverage of various medical services, and seeing longer life expectancy. The report “World Health Statistics 2011” says China, despite having a slightly larger population than India, reported fewer cases of many conventional infectious diseases than its neighbor in 2009. For example, as confirmed malaria cases have declined in general worldwide, China reported 14,491 cases, a comparatively low number among developing countries, against India’s 1,563,334 cases. And although prevalence of tuberculosis in China still stayed quite high at 965,267 cases in 2009, India reported even more at 1,351,913 cases with prevalence 1.4 times higher. According to the WHO study, China is seeing a coverage rate ranging from 85 percent to 95 percent on distinct basic medical services, such as antenatal care, immunization, and detection rate for tuberculosis. However, those services are much less accessible in India, where the coverage varies from 45 percent to 75 percent. **End Summary** Topics: China]]> India]]> health]]> business]]> investment]]>]]> About the Author: ]]> This article was written for Vivian Ni for China business and culture blog, 2point6billion.com. The site is published by the China business guide publisher Asia Briefing, and contributed to by the China business advisors at Dezan Shira & Associates.

Chinaâs Power Shortage

Fri, 20 May 2011 00:54:29 -0400

Enterprises in China are suffering the most serious off-season power shortage since 2004, bringing about great concern that the power supply deficiency will be exacerbated during the coming summer. East China’s Yangtze River Delta region, one of the country’s primary economic growth engines, has been forced to slow itself down due to the rare slack-season power supply crisis. As key indicators of this power deficiency, the world’s second largest steel producer Shanghai Baosteel has received a government notice that its electricity use for production will be restricted between June and September, many manufacturers in Zhejiang Province have been forced to take two-days of production off every week, and the Jiangsu power station has also foreseen a 16 percent – or 11 gigawatt – of supply gap in the province during the coming peak season. Realizing that the situation could very well get much worse, the Chinese Ministry of Industry and Information Technology released an urgent circular on May 10, calling for enterprises to better manage their demand for power. **End Summary** Topics: China]]> power]]> electricity]]>]]> About the Author: ]]> This article on China's power industry was written for the China business news site, China-Briefing.com. The stories are contributed by Dezan Shira & Associates who help foreign companies business in China .

U.S. to Make Visa Process Easier for Emerging Asiaâs Tourists

Fri, 20 May 2011 00:49:41 -0400

While global long-distance travel in fast developing countries grew 140 percent over the past decade, and is predicted to double in the next 10 years, the United States is only getting a small portion out of the growth. In 2010, half the Brazilians traveling overseas chose Europe, against the 29 percent who toured to the United States. Almost three times as many Chinese, some 3.7 million tourists also traveled to Europe instead of the United States. USTA President Roger Dow believes the major barrier that has stopped a large amount of potential visitors to the United States is the “burdensome U.S. visa system.” According to a USTA report, the U.S. visa application can take as long as 145 days in Brazil and 120 days in China, while visa process to go to the United Kingdom only takes an average of 12 days in Brazil and 11 days in China. In addition, people in some countries also complain about the inconvenient access to U.S. consulates – potential tourists may need to travel across the country just for an interview. The USTA recently announced a plan to help reform the U.S. **End Summary** Topics: business]]> travel]]> tourism]]> China]]> Asia]]> America]]>]]> About the Author: ]]> This story about emerging Asia was written for 2point6billion.com, which is contributed to by the China accountants and business advisors at Dezan Shira & Associates. For more China business news , visit China-Briefing.com.

Emerging Market Bank Lending Slows

Mon, 09 May 2011 02:17:05 -0400

Since lifting the reserve requirement ceiling and increasing interest rates has not considerably alleviated the problem of inflation, it looks inevitable that emerging economies will take another key measure – imposing more control over bank lending – to make their tightening monetary policy work. A recent report by the Institute of International Finance (IIF), an association of the world’s major financial institutions, shows the whole lending conditions improvement in emerging markets (EM) has slowed down during the first quarter of 2011, although the demand for loans still stays strong. The Emerging Bank Lending Conditions Survey uses a diffusion index with 50 as the neutral line to measure the magnitude of five aspects: credit standards, demand for loans, funding conditions, trade finance, and nonperforming loans. In general, the IIF Global EM Bank Lending Conditions Index was 54.9 during the first quarter of the year, showing the conditions in an improving pattern but a slowing down pace, compared to last quarter’s figure of 58.9. Among the four regions where the IIF spread questionnaires, Asia showed the second weakest lending conditions with the index standing at 54.1, only better than Africa and the Middle East (53. **End Summary** Topics: Emerging markets]]> business]]> investment]]>]]> About the Author: ]]> This article about emerging markets was written for 2point6billion.com. The site is published by Asia Briefing, who specialises in China Business Guides, like their newest Guide to Due Diligence in China .