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Top 500 Foreign-funded Companies in China Mobile phone giant Motorola's three-year reign as top foreign-funded company in China has been set to "power off," as Volkswagen Shanghai Company raced into pole position on the country's 2004's list of Top 500 Foreign-funded Companies. Volkswagen Shanghai chalked up annual sales of 56.7 billion yuan that year - an increase of 12 billion yuan over 2003. The list shows that eastern China remains a magnet for foreign investment 444 members on the prestigious list are based in this area. Beijing hosts 47 of the companies, ranking fourth after Guangdong, Shanghai and Jiangsu. Most of the top 500 foreign-funded companies are involved in the IT, communications equipment, electrical appliances, electronics and auto sectors.     

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Updated petroleum prospecting technology used in the DaqingOil Field in recent years has allayed fears stemming from gloomypredictions in the 1990s that its reserves would dwindle and its futurewas uncertain.In the past 3 years,184.52 million tons of petroleumand 8.381 billion cubic meters of natural gas have been prospectedin Daqing.According to the president of PetroChina CompanyLimited,with rational exploration Daqing Oil Field reserves will lastanother 100 years.     

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More Efficient FuelThe Chinese government plans to adopt new regulations prescribing higher standards for gasoline usage in order to control consumption and upgrade auto technology. According to China Auto Technology Research Center, now drafting the standards, the new regulations are expected to take effect in July 2005 and the second-phase in 2008. This means that automakers from around the world     

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Foreign Firms in Beijing Enjoy "Full-on Nanny Service"All the headaches experienced by foreign firms in Beijing have been borne in mind in the "Full-on Nanny service" which includes opening a green channel, practicing Internet examination and approval, reducing the burdens of foreign-funded enterprises, and establishing a complaints center. Beijing has now set up service networks throughout the city. Even in out-of-the-way Yanqing and Miyun counties, foreign firms can receive "one-station" service. The "Full-on Nanny Service" also includes issuing invitations on behalf of foreign investors, finding schools for their children, and providing housekeeping, insurance and medical care.     

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Seven Sectors HoistIndustrial Growth In 2002 China’s industrialsectors reported a fast growthrate and the best overall perfor-mance in recent years.According to the latest report bythe State Statistical Bureau,seven fields constitute the majorengine of industrial growth.     

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United Airlines Applies to Open Direct Flights Between Beijing and Washington United Airlines has applied for the right to run direct ights between Washington and Beijing. If successful, the Chicago-based airline says it will begin operating ight between the respective capitals in March next year. United Airlines plans to oper- ate combined passenger and cargo service between the cities using its Boeing-747 air- craft, says Mark Schwab, vice president of the group’s Paci c region opera…     

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Most Influential Transnational Companies in 20052005 was an eventful year for fast-food giant KFC, but the company earned an en- hanced reputation among Chinese consumers for its successful handling of the Sudan Red 1 crisis. Appearing for the first time ever on the recently released list of "Most Influential Transnational Companies in China, 2005," KFC came in at number five. US companies continued to show a dominant influence in China, accounting for more than half of the top 20 busin…     

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Private Enterprise Bosses Join High-Level Visits The number of private enterprise bosses participating in high-level visiting delegations led by state leaders has grown in recent years, especially those from Wenzhou. Among the 80 businessmen accompanying Chinese President Hu Jintao on his visit to Canada in 2005 were 14 private entrepreneurs from Wenzhou, The same year, 13 private enterprise bosses joined Premier Wen jiabao's visiting delegation to Portugal. "In the past, most participants in such high level delegations were leaders of SOEs. In recent years, however, more medium-sized and small private enterprise leaders have tried their luck," said one economic researcher, concluding, "The intention behind such visits needs further clarification. American trade delegations to China go to great lengths to build cooperative bridges between China and the US enterprises that have good market potential here. We should draw from their experience."     

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China and ASEAN Launch Free Trade Zone An agreement between China and the Association of Southeast Asian Nations (ASEAN) to lower tariffs on 7,000 industrial commodities traded between the two sides came into effect on July 20, 2005. In November last year, the two sides signed the Trade in Goods Agreement in Vien- tiane, Laos, as part of the establishment of a China-ASEAN Free Trade Zone, which is due to come into full force in 2015. The agreement is the first of its kind that Ch…     

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Chinese Merchants Eager to Enter Iraqi MarketThe 2005 Transnational Procurement Fair, recently held in Shanghai, attracted 110 firms, including world-renowned retailers and businesses. It was the largest of its kind in China. The procurement group for the reconstruction of Iraq was one of the fair's bright stars. It placed orders worth US $1 billion for building materials, power products highway and bridge equipment, petroleum and natural gas equipment, foodstuffs, drinks and related equ…     

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Airbus to Build Plant in ChinaTo commemorate its 20th year in the Chinese market, Airbus is to establish its firstaircraft manufacturing plant in China. The company says that industrial and technologicalcooperation between the two sides hit a new high in 2005. More than half of the 3,700Airbus planes in operation have parts made in Chinese factories. It is expected that by2007, China will become a major producer of single-engine aircraft. China is an importantAirbus market. From January …     

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China Ranks Second in Electronics SaiesFigures from the Chinese Ministry of Information lndustry (CMII) show that saies in China's electronicsector reached 1.88 trillion yuan (US $226.5 billion) in 2003, surging 34 per-cent from the previous year. China cur-rently ranks second in electronics saies, after the United States. Rapid growth in this sector has promoted China's GDP. The proportion of IT industry added     

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Five Traits of China's Aging Society 1: China's graying population is the largest in the world, accounting for one-fifth of the world total. It is estimated that by 2050, China's senior citizens will exceed 400 million. 2: Increases in life expectancy brought about by improved living conditions maintain momentum in the growth of the graying population.     

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Trends of Ten Major Industries Forecast by StateDevelopment Planning Commission The State Development Planning Commission Analytical Report onChina’s Industries(2002-2003)has forecast the following trends withinChina’s ten major industries in 2003:     

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World media giant Viacom and the shanhai Media Group have co-founded china's first joint venture TV Production company specializing in children'sprograms     

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China Raises Interest Rates on Private Mortgages China's central bank, the People's Bank of China, released a policy on March 17 aimed at adjusting commercial banks' private mortgage rates. It stated that rates on consumer housing loans would be lifted to "generally the same" as those on other loans, and would be no lower than 90 percent of its benchmark rates. Meanwhile, the minimum down payment in cities experiencing rapid increases in housing prices was raised from 20 to 30 percent. Regional commercial banks, however, can maintain some flexibility in setting mortgage rates, according to government policy and local real estate conditions. The People's Bank of China has made it clear that mortgage rates will continue to be raised, until they reach market standards.     

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Renewable Energy Fund Set up China's Ministry of Finance has issued its Temporary Measures on the Administration of a Renewable Energy Development Fund. They comprise detailed rules regarding the application, approval, accounting management, assessment and supervision of key projects supported by the fund. The fund will provide either free finance or cheap loans for     

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As Dead as a CRT? As plasma TV prices continue to plummet, the old CRT (cathode ray tube) sets are losing their last remain- ing competitive advantage. Twelve international and Chinese TV giants, including LG, Philips, Samsung, Hita- chi, Sharp, Panasonic, Hisense, Haier, Skyworth, TCL, Changhong and Xo- ceco, recently announced they would discontinue the supply of CRTs to ma- jor Chinese stores by October 1, 2007.China: the World’s Mobile Phone Factory Statistics from the Chin…     

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China to Tax Textile Exports in 2005The Ministry of Commerce has announced eight measures to ensure healthy development of China's textile exports once the global textiles market is liberalized in 2005. They are: (1) Levying an export tax on certain textile products to encourage high added-value product exports; (2) Reinforced government support of enterprises through timely distri-