The article presents the phenomenon of the Chinese companies＇ expansion in Europe as a result of the implementation of the government＇s strategy ＂Go Global＂, including the nature of this expansion, the scale, prem...The article presents the phenomenon of the Chinese companies＇ expansion in Europe as a result of the implementation of the government＇s strategy ＂Go Global＂, including the nature of this expansion, the scale, premises, as well as the possible consequences. The first part of the article is devoted to the analysis of assumptions and instruments of＂Go Global＂ strategy used to strengthen the government＇s initiatives aimed at encouraging the national entrepreneurs to open up and conduct business internationally. Further in the article the dominant forms and directions of Chinese companies＇ expansion on the European market have been presented, followed by the analysis of the impact of Chinese economy on its major foreign investment partners during the current economic slowdown. The basis of the analysis made by the author was data obtained from the statistical bases （Eurostat） and reports of the Research Institutes for China Studies （Rhodium Group, Thomson Reuters）. This is allowed to illustrate the development of Chinese expansion on the European market during the years 1999-2015. A significant increase in the activity of the Chinese capital in Europe could be seen in recent years. The development of relations between European countries and China is taking place not only in economic, but also in political and cultural dimension. This was reflected, among others, in activating of the trade activities between EU and China, the level of which increased greatly in years 1990-1999 from EUR 15,9 bn to EUR 72,2 bn, to reach a value of EUR 428,3 bn in 2011, making EU the most important trading partner of China. It should be emphasized that the European market has become the largest after Asian market, in terms of industry diversification of Chinese investment, where Chinese companies are investing in industries such as： raw materials, infrastructure automotive, chemicals and renewable energy.展开更多
On November 30th, according to the Global Capital Confidence Barometer （hereinafter referred to as the Barometer） which was recently released by Ernst ＆ Young, the increase in this year＇s transactions will continu...On November 30th, according to the Global Capital Confidence Barometer （hereinafter referred to as the Barometer） which was recently released by Ernst ＆ Young, the increase in this year＇s transactions will continue to raise global M＆A activities.展开更多
Fossil fuels may be out of fashion,but sales of foreignowned resources across Asia are expected to attract a broad mix of bidders.Some of Asia’s biggest foreignowned oil and gas assets,worth more than US$40 billion,a...Fossil fuels may be out of fashion,but sales of foreignowned resources across Asia are expected to attract a broad mix of bidders.Some of Asia’s biggest foreignowned oil and gas assets,worth more than US$40 billion,are to be sold in 2017,with potential bidders expected to include Chinese energy companies and sovereign funds.Assets to be sold include US-based Chevron’s US$1billion(0.94 billion euros)joint ownership stake with China’s state-owned CNOOC in an offshore oil field.展开更多
Today Chinese companies are taking leading roles and setting standards in global markets.The number of multinationals from China on the Fortune Global 500 List grew from none in1990 to almost 100 in 2015.This is an im...Today Chinese companies are taking leading roles and setting standards in global markets.The number of multinationals from China on the Fortune Global 500 List grew from none in1990 to almost 100 in 2015.This is an impressive result.We witness an ever increasing role of China and its financial sectoralso in shaping the global financial landscape.展开更多
Engagement at the highest level generates commitment,creates alignment,and ensures trade-offs are managed strategically rather than tactically.The UK is one of the best examples of this.Earlier this year,the Cabinet c...Engagement at the highest level generates commitment,creates alignment,and ensures trade-offs are managed strategically rather than tactically.The UK is one of the best examples of this.Earlier this year,the Cabinet created the Infrastructure&Projects Authority to consolidate展开更多
With the merger of the New York Stock Exchange (NYSE) and Europe's leading cross-border exchange Euronext drawing near to a close, a vast trans-Atlantic stock exchange-NYSE Euronext Inc.-will soon be born.This mar...With the merger of the New York Stock Exchange (NYSE) and Europe's leading cross-border exchange Euronext drawing near to a close, a vast trans-Atlantic stock exchange-NYSE Euronext Inc.-will soon be born.This marriage brings trading plat forms in New York, Paris, Brussels, Amsterdam and Lisbon under one group, and includes the London International Financial Futures Exchange.The new stock giant will establish a joint office in China this year, as China approved the NYSE and NASDAQ to set up offices in China after the first strategic economic dialogue between China and the United States last December.Pan Kang, President for the China Region and Vice General Manager of the International Listing Department of Euronext, is currently busy scouting for Chinese companies hoping to raise money on Euronext.In the following interview with Money Journal/Xinhua Finance, Pan dis-cusses Euronext's China plan and shares his views on the trans-ocean merg-er of global stock exchanges.展开更多
This paper provides a broad-based overview of Chinese companies listed in the UnitedStates, Hong Kong SAR, and Singapore. As more and more Chinese companies are seekinglisting on international stock exchanges, they mu...This paper provides a broad-based overview of Chinese companies listed in the UnitedStates, Hong Kong SAR, and Singapore. As more and more Chinese companies are seekinglisting on international stock exchanges, they must fully understand the costs and benefitsassociated with overseas capital-raising activities. Above all, they must be committed toaddressing investors’ concerns over accountability, transparency and corporate governancein general. Examinations of the pricing and post-offer performance of those listed in theU.S. market indicate that American depositary receipts (ADRs) from China have a moderatepositive return on the first day of trading but underperform the U.S. stock market in the firstthree years after offer. These results are generally consistent with the stylized facts aboutnewly listed companies recognized in the prior literature.展开更多
Considering the circumstances of Chinese oil companies and the latest development of international politics and world oil situation, this paper analyzes the implication and main factors of international political risk...Considering the circumstances of Chinese oil companies and the latest development of international politics and world oil situation, this paper analyzes the implication and main factors of international political risk for Chinese oil companies, and presents the principles, mode and scoring method for the assessment of international political risk. Strategies and suggestions to manage international political risk in their overseas business are provided for Chinese oil companies.展开更多
This paper presents an in-depth analysis of financially distressed listed companies in China between 1998 and 2002. We compare the predictive power of multiple discriminant analysis （MDA）, logistic regression, and n...This paper presents an in-depth analysis of financially distressed listed companies in China between 1998 and 2002. We compare the predictive power of multiple discriminant analysis （MDA）, logistic regression, and neural network models. We design and implement 126 different forecasting models using different predictive methods, different sample proportions, and different initial independent variables. The aim is to determine which model（s） and variables are best applicable for the short-term prediction of financial distress in China. We find that logistic regression models are superior to multiple discriminant analysis models in terms of prediction accuracy rate, restriction of sample distribution or prediction cost, but the neural network models show promise in their low Type I and Type II errors. The paper also inherently tests the applicability of variables traditionally used for bankruptcy prediction to the purpose of financial distress prediction in China.展开更多
Under the impetus of technologies such as deep learning algorithms, big data, Internet of Things, and cloud computing, AI has started to solve real problems.
This study investigates the current enviromnent of the Chinese record industry, and focuses on particular problems with business in China. Specifically, I will look at the reasons that led to the Chinese record indus...This study investigates the current enviromnent of the Chinese record industry, and focuses on particular problems with business in China. Specifically, I will look at the reasons that led to the Chinese record industry＇ s gradual depression in the past thirty years. Additionally, I will show the important reasons why piracy is on a rampage in China, and explain why China has not been able to solve this problem. To do this, I will examine the data of CD sales and revenue of Chinese Records Company in recent years, to see what has changed.展开更多
The Boeing Company delivered 46 planes to China’s civil aviation authority in 1993, accounting for one seventh of its total delivery. China thus became the company’s biggest overseas purchaser. It is estimated that ...The Boeing Company delivered 46 planes to China’s civil aviation authority in 1993, accounting for one seventh of its total delivery. China thus became the company’s biggest overseas purchaser. It is estimated that the company will deliver about 36 aircraft to China out of the latter’s total order, which will again account for one seventh of the展开更多
The Shanghai Lan Sheng Corp., which used to be called the Shanghai Stationery and Sporting Goods Import and Export Company, touched off great repercussions in the international mass media and among its counterparts af...The Shanghai Lan Sheng Corp., which used to be called the Shanghai Stationery and Sporting Goods Import and Export Company, touched off great repercussions in the international mass media and among its counterparts after it was renamed after its general manager Zhang Lansheng and its stocks were listed for transactions on展开更多
The story goes back to the end of 2007, when Yang Min, Party secretary and deputy chief manager of theNantong Times Clothing Co., Ltd. in Rugao, Jiangsu Province, heard what had happened to an orphan in the city.
If you find yourself in Lagos and you＇re a gadget freak, make your way to the Ikeja electronic market, believed to be the largest of its kind in West Africa.
Renewable energy is the fastest growing energy source.China,the world’s biggest energy consumer,is also the largest investor in renewable energy.Although it is expected that oil will continue to dominate the energy m...Renewable energy is the fastest growing energy source.China,the world’s biggest energy consumer,is also the largest investor in renewable energy.Although it is expected that oil will continue to dominate the energy mix in China and in the world by 2040,a transition towards a renewable model in the energy sector is unfolding,which has also been acknowledged by international oil companies(IOCs).Then,how the Chinese national oil companies(NOCs)approach such a transition becomes important–to what extent their investment transform and what are the pressures and influences behind the transformation.This paper investigates the positions and decisions taken by the Chinese NOCs,through comparing the similarities and differences between these NOCs and IOCs.A neo-Gramscian theoretical framework that considers environmental governance through dynamics at material,organisational,and discursive levels is used to examine the Chinese NOCs’energy transition.We find that the Chinese NOCs’energy transition is determined by:materially,economic profits;organisationally,the administrative environmental governance structure that copes with the market competition against IOCs and other stateowned companies;and discursively,the political concept of ecological civilisation.展开更多
Through analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between ...Through analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between regions/countries,and the development potential of oil and gas fields with production capacity not built and to be built,this paper presents the situation and trends of global oil and gas development in 2022.It is found that,in 2022,oil and gas fields are widely distributed worldwide,and upstream production activities continue to recover;the oil and gas reserves decrease slightly year on year,and the oil and gas reserves in sea areas increase significantly;the oil and gas production increases continuously,and the key resource countries make a significant contribution in oil and gas production growth;the oil and gas fields with production capacity not built and to be built hold abundant reserves,and their development potential will be gradually released with the economic benefits increase.Further analysis is conducted from the perspectives of global oil and gas resources continuity,geopolitical risks,potential of international cooperation,and upgrade of unconventional oil and gas technology.Finally,in view of core business domains and strategies under the new situation,the Chinese oil companies are recommended to:(1)keep a foothold in onshore conventional oil and gas development by virtue of their comparative advantages and learning from other’s experience in cooperation;(2)carry out pilot tests on development adjustment,and deepen the international cooperation in enhanced oil/gas recovery;(3)improve the oil and gas operation capabilities in sea areas to transform from follower as minority shareholder to joint venture and then to independent operations;and(4)seek appropriate ways for shale oil/gas development to reduce the dependence on foreign oil and gas.展开更多
文摘The article presents the phenomenon of the Chinese companies＇ expansion in Europe as a result of the implementation of the government＇s strategy ＂Go Global＂, including the nature of this expansion, the scale, premises, as well as the possible consequences. The first part of the article is devoted to the analysis of assumptions and instruments of＂Go Global＂ strategy used to strengthen the government＇s initiatives aimed at encouraging the national entrepreneurs to open up and conduct business internationally. Further in the article the dominant forms and directions of Chinese companies＇ expansion on the European market have been presented, followed by the analysis of the impact of Chinese economy on its major foreign investment partners during the current economic slowdown. The basis of the analysis made by the author was data obtained from the statistical bases （Eurostat） and reports of the Research Institutes for China Studies （Rhodium Group, Thomson Reuters）. This is allowed to illustrate the development of Chinese expansion on the European market during the years 1999-2015. A significant increase in the activity of the Chinese capital in Europe could be seen in recent years. The development of relations between European countries and China is taking place not only in economic, but also in political and cultural dimension. This was reflected, among others, in activating of the trade activities between EU and China, the level of which increased greatly in years 1990-1999 from EUR 15,9 bn to EUR 72,2 bn, to reach a value of EUR 428,3 bn in 2011, making EU the most important trading partner of China. It should be emphasized that the European market has become the largest after Asian market, in terms of industry diversification of Chinese investment, where Chinese companies are investing in industries such as： raw materials, infrastructure automotive, chemicals and renewable energy.
文摘On November 30th, according to the Global Capital Confidence Barometer （hereinafter referred to as the Barometer） which was recently released by Ernst ＆ Young, the increase in this year＇s transactions will continue to raise global M＆A activities.
文摘Fossil fuels may be out of fashion,but sales of foreignowned resources across Asia are expected to attract a broad mix of bidders.Some of Asia’s biggest foreignowned oil and gas assets,worth more than US$40 billion,are to be sold in 2017,with potential bidders expected to include Chinese energy companies and sovereign funds.Assets to be sold include US-based Chevron’s US$1billion(0.94 billion euros)joint ownership stake with China’s state-owned CNOOC in an offshore oil field.
文摘Today Chinese companies are taking leading roles and setting standards in global markets.The number of multinationals from China on the Fortune Global 500 List grew from none in1990 to almost 100 in 2015.This is an impressive result.We witness an ever increasing role of China and its financial sectoralso in shaping the global financial landscape.
文摘Engagement at the highest level generates commitment,creates alignment,and ensures trade-offs are managed strategically rather than tactically.The UK is one of the best examples of this.Earlier this year,the Cabinet created the Infrastructure&Projects Authority to consolidate
文摘With the merger of the New York Stock Exchange (NYSE) and Europe's leading cross-border exchange Euronext drawing near to a close, a vast trans-Atlantic stock exchange-NYSE Euronext Inc.-will soon be born.This marriage brings trading plat forms in New York, Paris, Brussels, Amsterdam and Lisbon under one group, and includes the London International Financial Futures Exchange.The new stock giant will establish a joint office in China this year, as China approved the NYSE and NASDAQ to set up offices in China after the first strategic economic dialogue between China and the United States last December.Pan Kang, President for the China Region and Vice General Manager of the International Listing Department of Euronext, is currently busy scouting for Chinese companies hoping to raise money on Euronext.In the following interview with Money Journal/Xinhua Finance, Pan dis-cusses Euronext's China plan and shares his views on the trans-ocean merg-er of global stock exchanges.
文摘This paper provides a broad-based overview of Chinese companies listed in the UnitedStates, Hong Kong SAR, and Singapore. As more and more Chinese companies are seekinglisting on international stock exchanges, they must fully understand the costs and benefitsassociated with overseas capital-raising activities. Above all, they must be committed toaddressing investors’ concerns over accountability, transparency and corporate governancein general. Examinations of the pricing and post-offer performance of those listed in theU.S. market indicate that American depositary receipts (ADRs) from China have a moderatepositive return on the first day of trading but underperform the U.S. stock market in the firstthree years after offer. These results are generally consistent with the stylized facts aboutnewly listed companies recognized in the prior literature.
文摘Considering the circumstances of Chinese oil companies and the latest development of international politics and world oil situation, this paper analyzes the implication and main factors of international political risk for Chinese oil companies, and presents the principles, mode and scoring method for the assessment of international political risk. Strategies and suggestions to manage international political risk in their overseas business are provided for Chinese oil companies.
文摘This paper presents an in-depth analysis of financially distressed listed companies in China between 1998 and 2002. We compare the predictive power of multiple discriminant analysis （MDA）, logistic regression, and neural network models. We design and implement 126 different forecasting models using different predictive methods, different sample proportions, and different initial independent variables. The aim is to determine which model（s） and variables are best applicable for the short-term prediction of financial distress in China. We find that logistic regression models are superior to multiple discriminant analysis models in terms of prediction accuracy rate, restriction of sample distribution or prediction cost, but the neural network models show promise in their low Type I and Type II errors. The paper also inherently tests the applicability of variables traditionally used for bankruptcy prediction to the purpose of financial distress prediction in China.
文摘Under the impetus of technologies such as deep learning algorithms, big data, Internet of Things, and cloud computing, AI has started to solve real problems.
文摘This study investigates the current enviromnent of the Chinese record industry, and focuses on particular problems with business in China. Specifically, I will look at the reasons that led to the Chinese record industry＇ s gradual depression in the past thirty years. Additionally, I will show the important reasons why piracy is on a rampage in China, and explain why China has not been able to solve this problem. To do this, I will examine the data of CD sales and revenue of Chinese Records Company in recent years, to see what has changed.
文摘The Boeing Company delivered 46 planes to China’s civil aviation authority in 1993, accounting for one seventh of its total delivery. China thus became the company’s biggest overseas purchaser. It is estimated that the company will deliver about 36 aircraft to China out of the latter’s total order, which will again account for one seventh of the
文摘The Shanghai Lan Sheng Corp., which used to be called the Shanghai Stationery and Sporting Goods Import and Export Company, touched off great repercussions in the international mass media and among its counterparts after it was renamed after its general manager Zhang Lansheng and its stocks were listed for transactions on
文摘The story goes back to the end of 2007, when Yang Min, Party secretary and deputy chief manager of theNantong Times Clothing Co., Ltd. in Rugao, Jiangsu Province, heard what had happened to an orphan in the city.
文摘If you find yourself in Lagos and you＇re a gadget freak, make your way to the Ikeja electronic market, believed to be the largest of its kind in West Africa.
文摘Renewable energy is the fastest growing energy source.China,the world’s biggest energy consumer,is also the largest investor in renewable energy.Although it is expected that oil will continue to dominate the energy mix in China and in the world by 2040,a transition towards a renewable model in the energy sector is unfolding,which has also been acknowledged by international oil companies(IOCs).Then,how the Chinese national oil companies(NOCs)approach such a transition becomes important–to what extent their investment transform and what are the pressures and influences behind the transformation.This paper investigates the positions and decisions taken by the Chinese NOCs,through comparing the similarities and differences between these NOCs and IOCs.A neo-Gramscian theoretical framework that considers environmental governance through dynamics at material,organisational,and discursive levels is used to examine the Chinese NOCs’energy transition.We find that the Chinese NOCs’energy transition is determined by:materially,economic profits;organisationally,the administrative environmental governance structure that copes with the market competition against IOCs and other stateowned companies;and discursively,the political concept of ecological civilisation.
基金Supported by the PetroChina Science and Technology Project(2021DJ3205).
文摘Through analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between regions/countries,and the development potential of oil and gas fields with production capacity not built and to be built,this paper presents the situation and trends of global oil and gas development in 2022.It is found that,in 2022,oil and gas fields are widely distributed worldwide,and upstream production activities continue to recover;the oil and gas reserves decrease slightly year on year,and the oil and gas reserves in sea areas increase significantly;the oil and gas production increases continuously,and the key resource countries make a significant contribution in oil and gas production growth;the oil and gas fields with production capacity not built and to be built hold abundant reserves,and their development potential will be gradually released with the economic benefits increase.Further analysis is conducted from the perspectives of global oil and gas resources continuity,geopolitical risks,potential of international cooperation,and upgrade of unconventional oil and gas technology.Finally,in view of core business domains and strategies under the new situation,the Chinese oil companies are recommended to:(1)keep a foothold in onshore conventional oil and gas development by virtue of their comparative advantages and learning from other’s experience in cooperation;(2)carry out pilot tests on development adjustment,and deepen the international cooperation in enhanced oil/gas recovery;(3)improve the oil and gas operation capabilities in sea areas to transform from follower as minority shareholder to joint venture and then to independent operations;and(4)seek appropriate ways for shale oil/gas development to reduce the dependence on foreign oil and gas.
