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December 30, 2009

Shanghai - World's No.2 Financial Centre Within Ten Years

According to a survey just completed by British firm Evershed, Shanghai may overtake London as the world's second largest financial centre within the next ten years.

More than 90% executives in Shanghai and Mumbai are positive on the economic outlook in 2010, while the figure in London and New York was only 22% and 35%, respectively, said the survey, which however positioned New York as the largest financial centre.

The report:  http://is.gd/5oaDa


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Graduates line up to teach Chinese overseas

Hundreds of college graduates yesterday attended interviews to be volunteer teachers of Chinese in Thailand, the Philippines and other Asian countries.

    As many as 380 people turned out at the Minzu University of China for the recruitment drive organized by the Beijing Center of the Promotion of Chinese Overseas. This brings the total to almost 700 youths over the past two weekends.

    Recruiters say they'll pick 300 people from Beijing to join between 1,000 and 1,500 people nationwide to teach Chinese in neighboring countries, starting next May, to meet the ever-increasing demand for Chinese teachers in foreign countries.

    An official of the volunteer center of the Office of the Chinese Language Council International (Hanban), told METRO that Chinese teachers are in great demand because learning Chinese is now part of compulsory education in many primary schools in Asian countries such as Thailand.

    "I heard from some education officials in the Thai government that they can't start Chinese teaching without Chinese teachers and volunteers," she said. Chinese teachers can be found in almost all the elementary schools in Thailand, according to her.

    An official with the Beijing International Center for Chinese Language, said those who passed the interview would go through a five-month training period organized by Hanban. Successful candidates would then become volunteers and teach Chinese to primary and middle school students in Thailand, Philippines and other neighboring countries.

Each volunteer would receive $800 in subsidies, with accommodation and medical insurance covered by the recipient school. Volunteers who perform well will be recommended to continue their graduate studies of teaching Chinese at universities when they return, she said.

    The official added that the basic requirement for candidates is that they have to have a bachelor's degree, pass a Chinese-level test and a College English Band Four exam. Candidates were tested on Chinese grammar, pronunciation, blackboard writing and English.

    Those with skills such as singing Chinese songs or dancing were preferred, she said.

    Huang Ping, 24, a graduate from Yunnan University that majors in teaching Chinese as a foreign language, was one of the candidates. She said being a volunteer in a foreign country would not only improve her communicative skills and English but also expand her international experience.

    "I feel that teaching foreigners Chinese is like spreading Chinese culture to foreign countries. It is a great job," she said.

    "I've sent out 40 CVs recently but only got a couple of responses. The job market has been severely hit by the financial crisis, but I really hope I can get this chance."

    Li Qianqian, 26, currently teaches Chinese in Thailand. She said Chinese teachers are very welcomed by Thai students.

    "My students are very friendly. They are very enthusiastic about learning Chinese. Apart from the hot weather, I have nothing to complain about," she said.

    The Chinese government has recently taken a series of intensified measures to expand the influence of the Chinese language worldwide.

    There are 282 Confucius Institute branches worldwide in 88 countries and regions. More than 250 organizations and institutions are in the process of applying to set up institutes.

    Between 2009 and 2013, up to 3,000 scholarships will be given to foreign candidates to study teaching Chinese as a foreign language around China, according to Hanban.


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Beijinger to open shopping mall in Milwaukee

A Beijing company has purchased a shopping mall in the US, marking the largest overseas acquisition of commercial property by a Chinese enterprise to date.

Beijing's Toward Group said it will open the mall in Milwaukee, Wisconsin, in August 2010 when 40 percent of tenants are expected to have moved in. The company announced its acquisition of the property on Dec 24.

"August is the warmest and most beautiful month in Wisconsin," Wu Li, CEO of Toward, told METRO. "For the first six months, we will waive the rent for our tenants."

More than 200 retailers are expected to open shops in the center, most coming from Beijing and Ningbo, a coastal city in Zhejiang province, Wu said.

The mall will be called "Amesia Plaza".

Toward Group is located in the Huatengbeitang Business Center in Chaoyang district. The walls of the offices are lined with photos from the Pacific island nation of Palau where the company is building a 116-room hotel.

"We made a small fortune by making antibiotics in 2000," Wu said while preparing to give a presentation on the Milwaukee shopping mall to a clothing factory in Beijing.

But why Milwaukee? Because it is cheap, Wu said.

"The sales tax rate in Wisconsin is only 5.5 percent, much lower than the average level in California, which is 7.25 percent to 9.75 percent," he said. "The purchase only cost $6 million. It would cost $100 million to build a similar property."

"If the occupancy rate is high enough, this mall will be worth a lot of money in the capital market," Wu said. "That is how we will make our profit."

"Besides, it is the economic center of Wisconsin and is only an hour away from Chicago," Wu said. "There are almost no big malls dedicated to sell Chinese products. We face far less competition than on the East and West coasts."

Toward has also considered acquiring malls in Ohio, Los Angeles and Washington DC.

The company initially is focusing business recruitment in Ningbo, Milwaukee's sister city.

"We already have about 200 candidates from Ningbo," Wu said. "But we are targeting 300 to 500 tenants for our final list."

Products to be sold in the mall include bags, clothing and furniture as well as a few famous Chinese brands.

"We are talking with Ruifuxiang Silk Store but have not closed a deal yet," Wu said.

Cai Dongmei, chairman of Toward's board of directors, said the plan will benefit Milwaukee's local economy.

"We can create at least 300 to 500 jobs for Milwaukee along with tax revenue for the government," Cai said. "At the same time, we are highlighting Chinese culture associated with the products, so the local business owners may show less hostility."

Chinese products or not, Milwaukee storeowners say the new mall will likely have an impact.

"There is always the potential to hurt local businesses," said JC Paustian, a Milwaukee business owner. "But the world economy has changed a lot. People understand not everything is made in the US anymore. Now people are looking for less expensive things because money is tight."


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December 16, 2009

Class wars in China: Everybody hates rich people

Amid a widening wealth gap between rich and poor, a new survey has found that 96 percent of the public said they feel resentful toward the rich.

The latest survey, released by the Zhejiang Academy of Social Sciences, also shows that 70 percent of 1,159 respondents said they feel "a big gap" between the rich and poor in China now, with more than half of the people saying the gap will become bigger.

The survey, launched in the first half of the year, was based on questionnaires handed out to 10 social groups including public servants, entrepreneurs and farmers.

"I believe that the wealth gap is a much more serious problem nationwide," said Qiu Liping, a professor of social stratification at Shanghai University.

"Our society is in dire need of a platform for dialogue between the rich and poor," he said. Such a platform, he said, will minimize the resentment against the rich.

"People do not always hate the rich. People hate those who are immorally rich," he said.

But most of time, people do not make that distinction. Cherry Chang, an editor of a luxury magazine in Shanghai, said her car, a red Porsche, has been vandalized three times in the past two weeks.

Her friend's Lamborghini fared no better. "I think there are many people in this city who harbor a deep resentment against the rich," she said.

The wrath aimed at the wealthy has been a hot-button issue recently, and can go past vandalism to include kidnapping and even murder.

Yi Zhao, a civil servant from Guangdong province, admitted that he dislikes the rich.

"Most of them collect wealth at the expense of the poor. Take those real-estate manipulators for example. They control the property market aiming for a higher price and a considerable profit," he said.

"On the other hand, I simply can't accept the skyrocketing prices. Isn't it unfair to the majority who are unable to afford an apartment, even if we squeeze together the savings of three generations? "

However, Xiao Xiaowei, a 24-year-old self-employed from Wuhan, capital of Hubei province, said she actually respects the rich, especially billionaires.

"It's true that some of them get rich illegally or at the expense of the poor, but getting rich surely requires some other qualities, such as excellent interpersonal skills. They have the capabilities that others don't have," Xiao said.

Chang also said she worked hard to buy herself an apartment and a car. "If those people have the time to hate us and envy us, why don't they spend the time working, using diligence and intelligence?" asked Chang.

Zhang Qi, a 28-year-old professional in Beijing, said getting rich and making money are not just about working hard.

"I haven't thought much about making a lot of money. Life is hard for me - and I am privileged with a decent job. For those who are less privileged, life must be even harder," Zhang said.


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December 11, 2009

In China, my name is...

Given free reign to do whatever they want, Chinese people sometimes choose the weirdest names. One of our friends has a guy in his office named Elvis, another has a student who calls himself Valerie (and yes, he knew it was a girl's name when he chose it). Now two authors, Valerie Blanco and Ellen Feberwee have written a 176-book on the cultural ramifications behind the strange names you see.

Called In China, My name is..., the book seeks to answer the question of why Chinese people adopt English names in the first place and how they choose them. As they explain to Fauna (speaking of weird names) on ChinaSMACK:

We asked a simple question: “Do you have an English name?” But behind this question lay many answers and insights ranging from China’s past to its future. This fascinated us, so we decided to hit the streets to see whether our analysis was right. We did our research in Shanghai.

 

We spoke with Chinese from different provinces and “social layers”; poor street workers, visitors off the Millionaire fair, religious monks, students and so on. Shanghai is a melting pot, attracting people from all over China. This gave us the chance to provide a broad perspective on this subject.

 

One of the people they found named himself Jessie Potter because he likes Harry Potter, but admitted "it's hard to say if I have some kind of connection with him. I just like him. I use an English name because I have a lot of foreigner friends so it is very convenient for me." Head over to ChinaSMACK to read more and win a book. And don't forget to share your stories of fun names you've come across in comments here.


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China in the Winter Olympics: Facts and figures

Although China—like the rest of the world—care a lot less about the Winter Olympics than they do about the summer games, there is indeed an Olympics coming up. Olympic gold medals are a huge source of national pride in China, so the Vancouver 2010 Olympics will be watched more closely here than in most countries.

Here's a rundown of some facts and figures on China's Winter Olympic history:


  • China's Winter Olympic debut: Lake Placid, 1980. China's best result was an 18th place finish in women's slalom ski. In 1984, matters only got worse, as China's top finish was 19 in the women's slalom ski.
  • China's first Olympic medal: 1992, Albertville, 2 silvers in women's speed skating, 500 meters and 1,000 meters, for Ye Qiaobao (was the first year in the program for speed skating)
  • First Winter Olympic gold: 2002, Yang Yang won the women's 500 m and 1,000 m in short track speed skating.
  • China's rank in medals from Torino 2006: 11 (2 gold, 4 silver, 5 bronze). All were in speed skating except for one gold in men's freestyle skiing aerials (Han Xiaopeng) and silver in women's freestyle skiing aerials (Li Nina)
  • China's historical Winter Olympic medals: 4 gold, 16 silver, 13 bronze, 33 total

 

Also worthy of note: China has historically been very strong in speed skating--it accounts for 25, or almost 80 percent, of China's winter Olympic medals. Its other Olympic medals have come in figure skating (5) and skiing (3).

China's best shot at the elusive team sports gold is in curling. The Chinese women's team became national heroes when they brought home the world championship earlier this year. The women's ice hockey team has also improved rapidly, but despite their number 7 world ranking, they have very little hope of medaling this time around. Powerhouses USA, Canada, Sweden, Finland and Russia are too dominant.


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December 02, 2009

U.S. destinations target affluent Chinese tourists

Hawaii, California and Las Vegas are among American tourist destinations vying fiercely for a vast and largely untapped new market segment.

Yes, to be a Chinese tourist these days is to be a widely-sought traveler.

Hawaii has beaches and its famed "aloha spirit" as its siren call. Las Vegas offers gambling and its entertainment-oriented attractions. San Francisco can boast high-end shopping and the Golden Gate Bridge.

Beset by one of the worst recessions in decades, the U.S. destinations are spending significant sums on marketing campaigns in China's most populous regions, and are urging U.S. embassy officials and Chinese airlines to ease the logistical burdens of flying to the United States.

The payoff could be substantial — particularly in Hawaii, the closest U.S. destination to China but which is, at least for now, harder for the Chinese to reach by air.

"It could be huge" for Hawaii, said Ted Sturdivant, who has long published a Hawaii travel guide for Chinese, Japanese and other foreign tourists.

Attracting more Chinese tourists "will bring back a lot of jobs" to Hawaii, Gov. Linda Lingle said recently, after returning from a tourism and economic mission to China.

About a half-million Chinese traveled to all U.S. destinations last year, and that number is expected to grow by double digits in each of the next four years mainly because of China's growing economy and new wealth, according to the U.S. Travel Association. Tourism officials note that the Chinese middle and upper classes each rivals the size of the entire U.S. population, so luring just a fraction would produce huge numbers.

"Everybody looks at China and sees a country with 1.3 billion people and a growing economy, and they say, 'Oh my God, it's the greatest travel market that ever was,'" said Frank Haas, an instructor at the School of Travel Industry Management at the University of Hawaii.

Hawaii's tourism market has generally been propped up by two regions — the U.S. West Coast and Japan. Both market segments declined this year, as did the number of Chinese visitors — this despite a late 2007 agreement that China and U.S. signed lifting some travel barriers.

To lure the Chinese, the Hawaii Tourism Authority has budgeted a total of nearly $2.7 million this fiscal year for marketing there and in Korea, said David Uchiyama, HTA's vice president of marketing. That includes $447,000 to participate in the World Expo 2010 in Shanghai, which begins in May.

But for the Chinese traveler, preparations for a trip to the U.S. can still be a hassle. Only the U.S. embassy in Beijing and four consulates located mostly on China's eastern coast handle visa applications, which require an in-person interview. However, traveling in groups, which tourism experts say Chinese prefer, can ease those impediments.

Then there is getting to the United States. There are non-stop flights from Beijing and other Chinese cities to popular U.S. destinations, but Hawaii is not among them. Traveling to Hawaii usually means a stop at busy Narita Airport outside Tokyo.

That could change next year if China-based Hainan Airlines follows through with plans to begin flying to Honolulu from Beijing non-stop. Even so, Hainan at first will fly only once a week to Hawaii. In comparison, Japan has about a dozen daily flights to the islands.

The Las Vegas Convention and Visitors Authority also is eying Hainan, said John Bischoff, a vice president with the organization. The authority may be interested in a deal in which Hainan passengers stop in Hawaii on their way to Las Vegas or during their return to China, he said.

The Chinese tend to travel to the United States for multiple weeks, so it's to the advantage of U.S. tourism officials to cooperate on tour packages and travel agent training, Bischoff said.

However the Chinese get to Hawaii, the islands are counting on them not to be frugal. Chinese travelers spend more than counterparts from any other country — about $7,200 per person per trip, according to the U.S. Commerce Department.

But Hawaii's tourism industry knows it needs to make the islands more culturally inviting to the Chinese. Many hotels, restaurants and retail stores have offered Japanese-speaking clerks for years, along with signs and menus in Japanese. Such aid is infrequently provided in Mandarin.

At the request of the Hawaii Tourism Authority, Kapiolani Community College, located just outside the tourist hub of Waikiki, has begun offering classes in basic Chinese phrases and customs to travel industry employees.

"What we're really doing with China is sort of just scratching the surface a little bit deeper...and (trying) to get to the level of comfort we presently have with our Japanese visitors," said Barry Wallace, executive vice president for Outrigger hotels.

California drew 237,000 Chinese visitors last year. State and local tourism officials are meeting counterparts in China and offering new travel packages that brand the Golden State as a "dream destination."

Las Vegas' marketing efforts focus less on gaming, since the Chinese can easily travel to Macau for that, said Bischoff. Instead, Vegas highlights entertainment and sightseeing attractions, including the Grand Canyon Skywalk located 122 miles away, which was built by a Chinese American businessman.

"Estimates are," Bischoff added, "that the Chinese tourist market is one of our brightest increasing sources of tourists."


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