A detailed analysis of the Australia-China free trade agreement proposed believes that Chinese investors benefit more than the Australians.
It carried out by the Network of Fair Trade and Investment Australia and limited to capital investment and facilitation agreement on investment, is that while companies with Chinese participation can bring Chinese citizens to work in Australia there is no provision equivalent for Australian companies to bring Australians.
Australian companies are limited to the importation of specifically senior managers and skilled workers.
China's willingness applies to companies with at least projecting 50 percent of Chinese capital or when no single company is 50 percent of capital, a project in which a Chinese company has a "substantial interest". A substantial interest is defined as occurring when a single foreign person owns 15 percent of a project or several foreign and associated persons own 40 percent.
The project must be related to infrastructure development in food and agribusiness, resources and energy, transport, telecommunications, energy supply and generation, the environment and tourism.
The minimum wage to be paid to imported Chinese workers will be negotiated between the project company and the immigration department rather than the minimum of Australia.
Whereas Australia is subject to a general provision preventing discrimination against Chinese investment, China does not have this general provision and is only required not to discriminate against investments in the transport, tourism, hospital, nursing care, education and financial services.
The terms of investor-State disputes in the agreement are less open than the provisions of other agreements such as the free trade agreement between Australia and Korea, not being subject to the requirement that hearings disputes and associated documents will be public. They are unfinished, the subject of a review within three years.
"The unbalanced access to markets and lack of complete negotiations seem as if the Australian government was desperate to seal the deal at any price, and that China has succeeded in defending many of his limitations," said coordinator Network, Patricia Ranald.
A spokesman for the Trade and Investment Minister Andrew Robb said the settlement procedure including investor-state disputes in the agreement was not new. Australia and Chinese investors were already subject to that procedure under existing investment treaty.
Chinese investors are in talks to demolish Chamber of Commerce of the House and rebuild the landmark site Edgbaston another potential coup ownership superpower Far East.
No name developers, backed by investment funds in China, are in detailed negotiations with the business organization of the city on the future of the house chamber 50.
If it is agreed, the preferred option is the demolition of the office building, which was designed by renowned architect John Madin city and was completed in 1960.
Camera outgoing CEO Jerry Blackett said the decision on the future of the project was likely within six months. The project has been under discussion for several months to help take down a pension deficit of £ 3,000,000 to £ 4,000,000, but Mr. Blackett said that talks were now in "more sustained.
"We are still willing to redevelop the site and are in discussions with a potential developer and some Far Eastern investors - it is Chinese money.
"The discussions we're having right now are the most sustained since the start of the recession. We would have to decamp at the point where the operation is performed.
"It's a matter of if we return, and we are minded to stay. We do not believe that a location in the city center is quite right for us.
"We can sit out, we are not a distressed seller, have very low costs being here, we're not in a rush to sell."
The plans come amid a growing wave of Chinese investment capital in Birmingham.
Tower Pier Broad Street became the first building in the city to be bought by investors from the Far East in November 2013.
Since then, there have been a series of deals with Chinese investors in development 130 Colmore Row, soon to be a restaurant Nosh and Quaff, and Franklin House, a former Cadbury factory will be converted into apartments.
The Post has reported in recent weeks how Chinese billionaires are interested in financing major regeneration schemes as Curzon Street and Icknield Port Loop.
Mr. Blackett said the Chamber of Commerce of the House, which was valued at £ 2.93 million on a turn-key basis March 2012, was the most valuable camera 'assets. "
"It's probably demolish and start a new stage. We have seen the cost of reforms, but there is more value in the demolition of renewal."
The camera has seen its workforce more than half since 2007, largely due to the loss of Business Link, which has substantially affected their sources of income of about 36 million pounds to the current figure of 6.5 million pounds.
Its workforce of around 70, compared to 200 before, now considered too small for the size of the Chamber of Commerce of the House.
If the project goes ahead of China, the camera will effectively resurrect an 11-year-old scheme dating from March 2004.
The plans were revealed to demolish the building and build a new headquarters for £ 90 million. But the scheme to provide three new main buildings at the corner of Harborne Road and Highfield Road, is inactive after the recession hit.
The camera, which has been in talks with the landlord Calthorpe Estates on the future of construction, already has a license of demolition and reconstruction scheme.
If Chamber of Commerce of the House was demolished, it would become the latest in a growing list of buildings to be razed Madin in Birmingham.
Most famously, the demolition has begun in the Central Library Chamberlain Square and is expected to be completed by the end of this year.
Madin other buildings have been demolished include the former home of the Birmingham Post & Mail, Pebble Mill Studios in Edgbaston and the building of the AEU in Holloway Circus, replaced by the Radisson Blu hotel.
Meanwhile, 103 Colmore Row, known as NatWest Tower, also expected for 2016 is gone and replaced with a new brand, office tower of 26 floors.
Chinese investors have become the second largest foreign players in French vineyards after Britain, according to a study recently published by Vinea Transaction, a French agency network transactions wine.
Twenty percent of the vineyards in the hands of foreign investors in France belong to Chinese investors, with 22% owned by British investors, according to the study, noting that foreign investors have totally 12,000 hectares, only 1.98% of 600,000 acres of French vineyards covered by the study.
The study was carried out with care over the vineyards of major labels, excluding Champagne and Cognac.
While UK investors widely cover six of the seven regions of vine investigated by the study, Chinese investors are almost entirely concentrated in the Bordeaux region.
According Vinea Transaction, 47% of the 193 areas of Bordeaux held by foreigners are held by Chinese investors, as areas of prestige as Bellefont-Belcier, Laulan Ducos, Chenu-Lafitte or were bought by them.
In addition, 90% of foreign investments are concentrated in the Bordeaux and Mediterranean areas, said Vinea Transaction.
China and the United States exchanged initial demands of an investment treaty as soon as Monday, sources said, but US investors are already worried that an emerging China raft of regulations could jeopardize the future of the talks.
In the exchange of lawsuits, two largest economies in the world outline industry sectors that each party considers to be closed to investors of the other party. Such "negative lists" the scope of the Treaty are defined and late months now.
China has more restrictions on foreign investment in the United States, and US investors hope that a treaty that will give them greater access to tightly controlled many industries in China, in financial services to healthcare.
But three sources familiar with the negotiations of the treaty say Beijing US negotiators hope to reach a broad "negative list", noting that it has carried out in recent months the new rules that could further restrict foreign access to sensitive sectors.
"After 35 years of reform and opening up in China, there are enough data points out there to suggest that we are now seeing a shift," said a source.
Ministry of Commerce in Beijing could not be reached for comment, but has said that foreign investors enjoy ample opportunity in China. Beijing has also complained of restrictions on Chinese investment in infrastructure and technology in the United States, and said that their companies are listed in US national security reviews.
However, China is carrying out the law, including the rules on national security and non-governmental organizations (NGOs), which are considered aggressive and overreaching by some within the foreign business community.
For example, the project of China National Security Law and the Anti-Terrorism Act, which could be adopted this year, call for the use of "safe and controllable" technology developed in China or using the source code released Chinese checkers.
Another pending bill on foreign NGOs, including many business groups, would give the police broad powers of supervision over their budgets, agendas and personnel decisions.
These movements, along with the fear that Chinese regulators are targeting foreign companies in competition probes have led to decades of high levels of pessimism among foreign investors.
The American Chamber of Commerce in China wrote to the Chinese government last week to complain about the security law.
"Fundamental questions about whether future commitments from China to open its markets to foreign investment will produce the expected results arises," the chamber said in a letter seen by Reuters.
He said the bill risked "undermining the ongoing BIT (Bilateral Investment Treaty) negotiations."
Trade relations have also deteriorated by Washington's accusations that Chinese hackers have been behind the recent attacks on government agencies in the US and American companies.
Last week, US officials accused Chinese hackers breach of government databases to steal files on four million federal employees, the latest in a series of charges of espionage directed against China. Beijing officials said the claims were unscientific and irresponsible.
All this will hang on high level US-China strategic and economic talks in Washington in late June.
"This is the hardest time I've seen in China for multinationals - and I've been here about 30 years," said James McGregor, president of the American public affairs consultancy APCO Worldwide in China.
"I have clients who ask me if they will be welcome here much longer," he said.
http://www.reuters.com/ (Reporting by Michael Martina and Matthew Miller, edited by Mark Bendeich)
Chinese investment in Sri Lanka is causing major problems for the president of Sri Lanka Mathripala Sirisena and has become a point of tension in relations between Sri Lanka and China.
Before taking office, Sirisena had promised that he would investigate alleged corruption, indicating that Sri Lanka would investigate how it is' foreign obtained by paying a ransom to a handful of people. " His electoral program at the same time acknowledged the economic difficulties of Sri Lanka. It reads: "Sri Lanka is a country with excessive state debt and a dangerous relationship with respect to the payment of the loan and state revenues."
During the previous regime, led by former President Mahinda Rajapaksa, Sri Lanka borrowed billions of China to develop megaprojects that many thought were economically unviable. Critics also feared that Sri Lanka would not be able to repay the loans and, as a result of China can take control of these vital infrastructure projects, providing a strategic presence in the country.
At that time, there was no information available in the public domain in relation to interest rates on loans. There were also allegations of corruption and bribery, which may have allowed Chinese firms to secure these projects without open bidding process. As a result, Sirisena incoming government promised it would re-evaluate all mega-projects undertaken by the previous government.
A particularly controversial project is the Colombo Port City project. The Colombo Port City project is being built by China Communication Construction Company (CCCC), a subsidiary of China Harbour Engineering Company, in collaboration with the Port Authority of Sri Lanka. The project amounts to US $ 1.4 billion investment, but - according to government spokesman Rajith Senaratne Sri Lanka -. The project was awarded "without appropriate approvals' Interestingly, the World Bank has banned CCCC on corruption charges to 2017.
During his visit to Beijing after being elected president, China Sirisena said that "the current problems facing the Colombo Port City is temporary and the problems do not lie with China." President of China, Xi Jinping, in turn, expressed his hope that "Sri Lanka could guarantee the legitimate rights and interests of Chinese enterprises."
But in an interview with CNN Money, the finance minister of Sri Lanka Ravi Karunanayake said, "Chinese companies took the opportunity of a corrupt regime to move to other companies that come ... there was not even playing field".
Other Chinese projects have also been criticized for being unproductive investments and are considered bad loans. Chinese companies built the port of Hambantota Mahinda Rajapaksa International Airport (MRIA) and a cricket stadium in the policy of former President Rajapaksa, Hambantota district. These are incurring losses because they are not commercially viable. In September 2013, the interest rate for MRIA, which cost US $ 209 million to build, was increased from 1.3 percent to 6.3 percent.
The Rajapaksa government took several steps to make the commercially viable airport. For example, according to the Civil Aviation Authority Annual Report 2014, Rajapaksa's government implemented a policy of "open skies" for granting rights of third, fourth and fifth freedom traffic MRIA foreign airlines. It also provided facilities for landing and parking. But MRIA attracted only 20,474 passengers and 2,984 international flights according to the report. In the same year, it incurred a loss of LKR2.75 million (approximately US $ 20 million).
Hambantota port has not been able to return the promised economic dividend. The port was built with US $ 306 million loan, 85 percent of which was provided by the Exim Bank of China with a fixed interest rate of 6.3 percent. Chinese SOEs in September 2014, reportedly gave Sri Lanka, China Merchants Holdings International and CCCC, the exploitation rights to four berths in the port of Hambantota, providing nearly 65 percent stake in the project agreement with the agreement reached with China in 2010. But Hambantota it is still to attract investment despite being declared a "free port" with Colombo Port, in July 2013.
The government of Sri Lanka has also stated that Katunayake Export Processing Zone, Koggala EPZs and MRIA are bonded areas in an attempt to attract investors. According to the Minister of Ports and Transport Loss Hambantota port in 2012 was LKR678 million (approximately US $ 5 million). Hambantota port was maintained from the profits made by the Port of Colombo. The Port Authority of Sri Lanka, formerly providing fueling services, has asked private companies to acquire or develop a joint venture for bunkering operations.
China has invested about US $ 5 billion in Sri Lanka. The Sirisena government faces a dilemma. While Sri Lanka is unable to reject Chinese investment, or to pay huge loans, they also do not know how secure these mega infrastructure projects profit to help pay for the loans. It is under tremendous pressure from China in the Colombo Port City project, where CCCC is reportedly claiming to be losing $ 380,000 a day. It would be financially difficult for the government of Sri Lanka to provide such a huge compensation in case you decide to cancel the project.
At the same time, there is a tremendous internal pressure to leave the Colombo Port City project because it has no environmental clearance and is likely to offer China a strategic foothold in the Indian Ocean, which could draw the ire of India and the US .S .. The Chinese Foreign Ministry spokeswoman Hua Chunying Colombo said he hopes to 'preserve confidence Chinese companies to invest in Sri Lanka in the overall interests of China-Sri Lanka friendly and the fundamental interests of national development "of Sri Lanka.
Sri Lanka has always tried to exploit their ties with Beijing in its relations with India and the West. But the previous government Rajapaksa went too far in courting China and did not consider the strategic consequences. It would be difficult for Sri Lanka to support Chinese pressure. But China is likely to be in no hurry to take punitive action if the Colombo Port City project does not materialize. After all, Colombo remains an important cornerstone in the Maritime Silk Road of China and is an important partner in the wider geopolitical game.
http://www.eastasiaforum.org/ by Smruti S Pattanaik, IDSA
Baidu is pushing into the public WiFi space, after the Chinese internet giant — responsible for the country’s most popular search and maps services — led an $11.5 million investment in Qianhai Mobile, a company that gets China’s commuters online.
Qianhai Mobile, which is an affiliate of NASDAQ-listed media firm ChinaVision, provides wireless internet access on a range of commuter routes, including bus services across 18 cities in China. That deal covers around 35,000 buses in major cities that include Shanghai, Shenzhen and Guangzhou.
The company, which claims to reach over 7.5 million Chinese commuters via its ‘VIFI’ service, revealed that private investors Guangdong Zhongke Baiyun New Industry Venture and Dongguan Zhongke Zhongguang Venture also participated in the round. The fresh capital, it said, will be put to use expanding its infrastructure and securing more deals and deployments.
Baidu’s involvement in the deal is strategic — and pretty interesting. The Chinese firm said it will work with Qianhai Mobile to “jointly develop and monetize mobile app distribution and other mobile passenger services powered by Baidu Map.”
Clearly, commuter WiFi services have vast potential. They offer more reliable (and potentially faster) internet access to millions while they commute to work and seek to fill dead time. That lends such services to becoming hubs for others.
Likewise, map services like Baidu’s are inherently at their most useful when a person is in transit. Thus, combining these two could create some interesting synergies and the potential to pipe in other relevant services — for example e-commerce deals, location-based promotions and other initiatives. The golden rule, of course, is to avoid abusing the position and ensure that each integration provides ‘value’ to users.
“We are very impressed with VisionChina Media’s many years of experience operating the leading public transit-based media platform in China, and the Company’s ongoing transition to an Internet-focused business. We are excited about the opportunity to work with VisionChina Media to truly address the needs of urban commuters and realize the significant long-term value of the Company’s public transit Wi-Fi network,” Baidu’s Peter Fang said in a canned comment.
Chinese enterprises have been making major investments in Europe, most notably for the purchase of brand names and technologies, as well as in the fields of agriculture, foods, and leisure activities, a marked difference from past investments which focused mainly on energy resources in developing nations, according to Sina's finance news portal.
In addition, Chinese investors have also been major buyers on Europe's realty market, as 1,909 of 2,378 foreigners up to April this year who spent €500,000 (US$560,775) or more purchasing houses in Portugal in exchange for immigration visas came from China.
Chinese investors have also figured prominently in Europe's financial sector, such as Fosun International and Anbang Insurance which may jointly bid for Novo Banco, Portugal's third largest bank, with an offer exceeding €40 billion (US$44.8 billion).
Chinese investments in Europe topped US$18 billion in 2014, with many cases exceeding US$1 billion in scale, boosting China's share in foreign investments in Europe to 3%. The UK was the largest outlet last year, accounting for US$5.1 billion, mainly for property, followed by Italy with US$3.5 billion, Holland, Portugal, and Germany. Germany sees much investment for for cutting-edge technologies and machinery factories.
Chinese private investors are playing an increasingly prominent role, as they accounted for 30% of total acquisitions, in terms of value, by Chinese in Europe during 2011-2013, compared with only 4% during 2008-2011.
Chinese investors have set their sights on businesses capable of meeting the new lifestyle expectations for middle class and wealthy Chinese, including those sectors related to upgraded consumption, such as beauty treatments, health, and elderly care and experience-based consumption, such as high-end travel and dining, and personal finance, according to Sina's finance news portal.
Chinese private investors began to step into Europe's commercial-property market in 2013, sinking US$2.8 billion in the sector, in such properties as hotels and wineries, which increased to US$3 billion in 2014.
Andreas Scriven, managing director for international business Christie + Co's, a hotel consulting firm, said many Chinese investors are interesting in buying medium-priced hotels, in order to accommodate growing numbers of Chinese travelers in Europe.
Earlier this year, he wrote in his blog about the excitement in China generated by the news that the Dalian Wanda Group plans to invest $ 1.09 billion to build and operate a luxury hotel in London. At the time of its announcement (made in the summer of 2013), it was the first luxury hotel venture announced by a Chinese company outside China. Since then, Dalian Wanda has added a luxury hotel project in Madrid just last summer, it advises Chicagoans a third-tallest skyscraper $ 900 million building in the city will open, housing Lakeshore Drive East a luxury 240-room, five-star hotel, luxury apartments and commercial premises in 2018. The US markets also led by Dalian Wanda include New York, Los Angeles and San Francisco.
This is only the beggining. Recently, Anbang, eighth largest insurance conglomerate China surprised the entertainment community with $ 1,950 million acquisition of the iconic Waldorf-Astoria-the highest price ever paid for an existing hotel in the US .. Not to be outdone, in October China Insurance Group Corp. invested Sol AUS $ 463 million (about US $ 399 million) in the high-profile Sheraton on the Park Sydney, the payment of approximately $ 716,000 per room; and in November, based in Shanghai Jin Jiang International Holdings Co. bought Louvre Hotel Group based in Europe for about $ 1.2 billion.
Hotels are not the only targets as Chinese investors to explore investment opportunities abroad. Last year, the food industry of America was a hotbed for the purchase of Shuanhui of Smithfield Foods for $ 4.76 billion and, in June, people in Virginia noted that Tranlin Paper Co. of China had invested about $ 2 billion in a paper plant and fertilizer are expected to create 2,000 local jobs by 2020.
In recent years, Chinese money has flowed into the US, compared with $ 58 million in 2000 to $ 14 billion in 2013. Overall, the Chinese investment in the US currently amounts to about $ 40 billion, according to Deloitte, Chinese investors are now the second largest foreign investor group, after Canada, the commercial real estate market, with a share of 8% of the total cross-border investment. As the South China Morning Post said recently, Chinese investment in the US now exceeds US investment in China.
Boosting Chinese investment here and elsewhere are the forces that are almost identical to those that attracted the Japanese investment abroad three decades. Fortune magazine reports China has excess savings ($ 4 trillion in foreign exchange reserves), so the valuation of US and European assets attractive due to Chinese private investors, foreign assets delivered exceptional performance.
At the same time, Chinese consumers are interested in buying everything American. They also feel that their assets are better protected in the US .. Today, these consumers represent more than 85% of investors who have applied for US EB5 visas that foreigners will invest more than $ 500,000 each in the CNBC reported US .. these people mostly put their money in assets that considered the safest: US real estate.
So, given this context, what can we expect for the hospitality industry? Simply this: the transformational change is coming here in the US and abroad. Note that 100 million Chinese are now traveling outside China and industry leaders expect this number to grow to 200 million in the next five years or less. Chinese hotel companies such as Dalian Wanda expect their compatriots to provide a solid customer base that can draw as they expand abroad-like American and European travelers provide the basis and impetus for global expansion mass of its brands, powerhouse grown as Hilton, Sheraton, Accor, Marriott and other decades.
In today's world, while other markets such as Russia, Korea and Japan are growing, only China has the resources and the volume of travelers to follow the pattern of growth in the United States. Now, one of its brands, Home Inns, classified in the top 10 global hotel brands in the world in terms of rooms. Others will soon follow suit.
The conclusion is clear. At the global level and in the US, brands and Chinese investors will grow significantly. This trend is important not only for students of the industry, educators and strategists of the company to pay attention, but also for local communities and the traveling public in general.
http://www.forbes.com/ by Ed Fuller
Representatives from various European regions on Thursday (June 4) tried to convince the four major Chinese banks to invest in projects in new investment program of the EU.
At a workshop in Brussels, regions and cities, including Berlin, Catalonia, Ile-de-France, and Lodz, made presentations of ideas for ICT projects.
Their releases were heard by officials of European departments of ICBC, China Construction Bank, Agricultural Bank of China and Bank of China, four of the seven largest banks in the world. HSBC representative was also present.
ICBC is the largest bank in the world with $ 3.3 trillion in assets, followed by China Construction Bank.
The investment program, often called the Juncker background after the president of the EU Commission, intends to unlock private sector investment by guaranteeing part of the investment with money from the EU budget and European Investment Bank.
The fund is expected to reach a total of € 315 billion to spend on infrastructure projects Kickstart EU economy.
The four Chinese banks in addition to HSBC, "are ready to evaluate with great interest the opportunity to invest in Europe," said Luigi Gambardella, chief of the International Association ChinaEU, which aims to promote business cooperation between China and Europe.
A Chinese banker, who spoke to this website on condition of anonymity, said the Chinese financial market is limited in opportunities.
"The European market is a very important strategic market for us," said the banker.
"I have not yet spoken with the EIB, but I think that Chinese banks would like to participate in this plan, provide some funding."
Fear of 'Chinese money'
An audience member from Austria noted that promoters of regional projects funded are wary of Chinese funds.
"For regions is very sensitive to talk about Chinese money coming into the region. We do not want to need money, that does not come from Europe or Austria, or the region," he said.
But that fear is unwarranted, said Alessandro Carano, chief adviser on employment to the commission.
"China is already a major investor in EIB bonds. China [has] already [been] indirectly financing the European economy for many years," Carano said, adding that some Europeans might not be aware of it.
"But we have no problem with this. On the contrary, we welcome," Carano said.
Gambardella told this website that many countries are not as interested in investing in Europe as China is.
"There are not many in the world. Maybe there Qatar, Emirates. Very few."
A study published in May by EY found that Europe has become the "most attractive investment destination", beating China's number one position.
But respondents do not necessarily put their money where their mouths are. The study showed that while 59 percent of investors are confident in the prospects for Europe for the next three years, only 32 percent of executives plan to invest, or invest more than they already do in Europe during next year.
"Europe must do this with all the different regions of the world," Gambardella said, referring to the workshop.
Meanwhile on Thursday evening in Brussels Moreover, negotiators from the EU institutions agreed to the last technical details of a political agreement that was necessary to implement the Juncker background.
The commitment will be put to the vote in the European Parliament on 24 June, with national governments are expected to endorse in the next few days, so that the fund will be operational on July 1.
https://euobserver.com By PETER TEFFER
Detroit is known as the epicenter of the US auto industry. But it is also a city with strong global links, according to Laurent Bresson, president and director of global operations Nexteer Automotive.
"Within a radius of 50 miles, has all the international executives from the automotive industry, and is so connected community," Bresson said. "That's a positive side that frankly do not see anywhere else in the world."
The combination of legacy Detroit auto and touch seems made to order for a company of Michigan 109 years old, led by a French executive and owned by Chinese investors internationally.
Formerly a division of General Motors GM -1.18% and its spinoff, Delphi Corp., Nexteer was bought by Pacific Century Motors based in China 465 million US dollars in 2010.
"Since then we have really been experiencing astronomical growth worldwide," Bresson said.
The manufacturer of steering systems and advanced driver line expanded its global workforce of 7,700 in 2009 to 11,000 in 2014, said Luis Canales, director of corporate affairs Nexteer. US workforce of the company rose from 3,000 to 5,000 during the same time, Canales said, including the addition of 90 engineers in 2014 and hire at least 65 new employees in 2015.
Nexteer also launched an initial public offering of $ 260 million on the Hong Kong Stock Exchange in late 2013, and completed a bond offering $ 250 million last year. The company ended 2014 with $ 2.98 billion in revenue, a 25 percent jump over the previous year.
To feed its strong growth cycle, the company will continue to seek new innovations and technologies, investing in research and development and invest in capital expenditures worldwide, Bresson said.
These investments allow Nexteer to win additional business from existing customers and win new business in emerging markets. For example, last year launched Nexteer brush support column electric power steering (EPS) tailored for the Chinese market. Today, the company provides direction for all minivans in China, Bresson said.
Nexteer is also leading converting industry for hydraulic power steering, allowing automakers to both fuel economy and reduce emissions increase, the company said.
"We have a strong portfolio, enabling us to direct all cars, a compact city car to a full-size heavy truck," Bresson said. Nexteer is currently directing October 9 full-size pickups in North America, he added.
With strong demand in North America and China, the company currently has a backlog that will be in production in the next two to three years $ 9 billion, Bresson said.
In 2016, the company based in Saginaw plans to create new global headquarters in northern Detroit. The move will allow Nexteer be closer to its customers and suppliers as well as important industry conferences and networking events.
Seven automakers are headquartered in the Detroit area and around 60 of the leading automotive suppliers in North America, Bresson said. "The concentration of experience and leadership in the metropolitan Detroit area automotive industry is really incredible," he said.
Nexteer next chapter will use these connections to increase growth and global brand awareness of your company. The company also sees an opportunity in the evolution of self-driving cars, for which management plays a key role. "Certainly, we are focused on capturing our fair share of the market opportunity," Bresson said.
Prototype car with self-driving Google hit the road this summer, and automakers such as Audi, Mercedes and Nissan introduction of self-driving features such as lane keeping assistance and automatic braking, Bresson has no doubt that over time drivers will travel in truly autonomous cars. "It's just a question of when," he said.
But first, the company will have to overcome a new set of challenges, including stay agile as the company grows, finding and hiring strong global talent, and adopt the mindset of a business as opposed to autonomous corporate division.
"It's a development that increases the level of responsibility of everyone in the organization," Bresson said. "These are good challenges to have."
http://www.forbes.com/ By Lisa Wirthman
Sponsors Chinese are behind three of the hottest Broadway shows as part of a broader effort to expand the musical theater in China.
Three of the hottest musicals on Broadway have Chinese as China advocates the expansion of live theater in the house starts and looks to New York for specialization.
China Media Capital, a private equity fund backed by the state, has invested in the production company behind Tony-nominated "Hand of God" and "Something rotten!" Beijing-based China Entertainment Broadway is a sponsor of "An American in Paris," which was nominated for 12 Tony Awards.
"This is the first season that Chinese companies are investing in Broadway," said Simone Genatt, president of Broadway Asia, a production company and entertainment licenses based in New York focused mainly on Asia. "They have been doing Broadway musicals in mainland China over the last decade, but this is the first time China is here in New York."
New York investments are part of a broader effort to expand the musical theater inside China. Big Broadway shows as "Cats" and "The Sound of Music" has been touring China for years. In a next step, "Cats" and "Mamma Mia" have been translated into Chinese. In recent years, the government has built over 25 new rooms for live musical productions, each with 1,200 to 1,800 seats capacity across the country.
Chinese investors say they are hoping to leverage their investments in Broadway shows to gain experience in US productions, bringing entertainment to China and eventually developing the most original Chinese musical produced.
CMC based in Shanghai last year invested in Broadway Kevin McCollum Global Ventures (BGV), who produced "Hand of God" and "Something rotten!" Mr. McCollum, a veteran producer whose credits include "Avenue Q" and "Rent", refused to reveal the size of the investment, but said CMC can help your company to expand its production to China, and said he is ready for consumption and theatrical creation.
"They are ready," says Mr. McCollum. "This is the source material that could work well there."
Finally, Mr. McCollum says he hopes to create the original musical theater artists and writers from the US and China. The idea is to create music that "is a fusion of the two cultures" and "could be realized both here and there."
"Kevin is very good for original shows, a skill that seems so vital," said Clark Xu, general manager of CMC. "Because at the end of the day, we want to make our own original shows."
CMC's investment is designed to benefit its portfolio companies, including seven ages of Production, musical-production company based in Beijing that Mr. McCollum adapted from "Avenue Q" in a Chinese version began touring level national in 2014.
CMC is also an investor in new Dream Center Shanghai, a large leisure complex with five theaters, including one dedicated to music, which is scheduled to open as early as 2017. The theater will be able to draw on both productions Sr . McCollum and its own original productions in the future, Xu said. CMC is also learning ticketing and theater management of Mr. McCollum equipment and ensure it is able to maintain the world-class music in the future.
Until now, Chinese investors have preferred classical music with healthy stories. "Something rotten!" - A love letter somewhat obscene musical theater and Shakespeare, and the "Hand of God" are provocative are the boldest offers, but have made no objections from CMC. "The shows are born of the western land and the content caters to local audiences," Xu said. "We do not interfere with the creation of the series and respect the decisions of team creation."
That may change if the shows traveling to China. All scripts must be subjected to censorship for approval. "We hope the shows will tour in China, and certainly make suggestions on this matter then," Xu said.
Mr. McCullom says vanguard "Avenue Q" has not changed for China, but overall, set a program to work in a new place is common. "You have to have partners in the local market to succeed in that market," he said.
"An American in Paris" is the first investment by China Broadway Entertainment, a producer of live entertainment based in Beijing. The company, created last year to invest in and produce Broadway shows in China, was founded by Broadway Asia and two Chinese producers: Ivy Zhong, former managing director of Beijing Galloping Horse Film Co. Ltd., a Chinese film-production independent leader and Sean Hsu, president of China, Digital Culture, an entertainment company based in Beijing. CBE invested "several hundred thousand dollars" in the musical and plans to support future US shows.
Is expected to "An American in Paris" to go to China since 2018, first as a tour through Asia, then as a local language version, said Ms. Genatt. CBE is also planning a production dip "Peter Pan" to visit some cities in China with Randy Weiner, the producer of "Sleep No More".
Don Frantz, veteran producer of "Beauty and the Beast" on Broadway and "The Lion King", says he started getting calls from Chinese investors, as soon as the Tony nominations were announced in April this year. Mr. Frantz, creative director at Town Square Productions is actively involved with local producers in the stage production in China, including a Mandarin-production of "Into the Woods".
"Chinese investors are passionate about the world of Broadway," said Mr. Frantz. Mr. Frantz and helped facilitate Chinese investment in its own production off-Broadway. Zhang Chen, founder of Mahua FunAge Production Co. Ltd., a leading Chinese comedy company decided to invest in "Disenchanted" After attending a lecture in New York in 2013. Produced by Mr. Frantz, the musical is adult princesses.
"My gut says this is an interesting show with good market potential," Zhang said. He said he spent "a very small part" of the total budget of the program to "take the temperature" of the industry. Zhang created a new company, China Musical Theatre in New York last year and plans to spend more. "I'm definitely going to increase my investment in the Broadway musical," he said. "If the program will not come to be in China, you can only stay out of the country as a purely financial investment."
http://www.wsj.com/ by Lilian Lin and Stefanie Cohen
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