Discussions Between China and New Zealand

Prime Minister John Key met with Chinese business people at a networking event in Beijing recently alongside Alibaba billionaire Jack Ma. Key is leading a delegate trade mission which includes 40 people. It is focused on upgrading their ties to New Zealand and its free trade agreement with China.

China and New Zealand signed a memorandum of understanding which will allow New Zealand small businesses more access to sell their products on Alibaba. Ma is hoping to introduce products from New Zealand to China. As he said, while talking to the media after the signing,

“I think your total population is 4.5 million, and we’ve got 1.4 billion people. So the market is huge … and I think our cities are already demanding a quantity that will scare you guys. So this is something that we would love to do; not only buy from New Zealand, we should learn from New Zealand how to protect the environment and then continue to do that.”

During the course of the six day trip that Key was on, he saw the signing of three agreements just on the first day. These included the Alibaba announcement and “an extension to communications provider Huawaei’s sponsorship of the Wellington Phoenix and an agreement for production company Natural History New Zealand to produce documentaries and children’s programmes for China Central Television.”

Adam Roseman Discusses the Chinese and US Entertainment Industries

Adam Roseman, CEO and Co-Founder of FansTang, the largest provider of localized international entertainment content in China, discussed with Phoenix TV some of his ideas on how best to bridge the gap that exists between the entertainment industries in China and the USA.

Roseman believes that the opportunities that present themselves today in China are greater than they have ever been before in history, particularly in the entertainment industry. However, Roseman says, there is a large difference between the reality of the market, and the perception. The last 12 months, especially, have exacerbated the gap between perception and reality, due to the large number of new companies that have entered the marketplace. Companies that are coming into the entertainment industry now, whether on the China side or the US side, are coming into the marketplace a bit naïve. As Roseman explains, “It is easier to see the opportunities than to properly understand the challenges.”

Roseman continued: “China and the US are tremendous economic powers, but they both operate very differently from a cultural perspective. And that cultural difference in particular is amplified when you are talking about the entertainment sector. In Hollywood you have a lot of very strong personalities; a lot of arrogant people; a lot of people who could be described by the expression, ‘Their way or the highway.’ But in China things are just done differently. In China, in the entertainment sector as well, there are a lot of very powerful people. They have been very successful and are now entering the entertainment industry. These people are not used to being told ‘No.’ Getting these two parties, who come from such different backgrounds, to work together in a seamless fashion, is just challenging.”

Roseman says that bridging the gap between the two entertainment super powers is just a question of experience and understanding. Over time, he says, the market will grow dramatically. However, because of the large number of new entrants into the entertainment market, the perception of growth will outpace the reality.

The Far East Loves Mackies Ice Cream

Apparently people in the Far East love Mackies ice cream. Sales have quadrupled in the most recent financial year and profits have more than doubled. The company admits that these sales were quite a surprise, according to managing director Mac Mackie.

The firm has supplied ice cream to South Korea since 2002 and has been selling ice cream in South Korea with Costco.

As Mr. Mackie said, “Korea has really taken off last year and hopefully carrying on this way. It has been a surprise, to be honest. Dairy products are very popular across the whole marketplace. Because Korea has done so well we are now supplying Taiwan from this year.”

Most Lucrative Jobs For Those In Singapore

A recent survey by the top three universities in Singapore has found that the median salary for degree holders rose to $3,200 for the graduating class of 2014. That’s a 5% increase over last year. Unemployment rates are consistently lower than 3% in Singapore.

According to GET.com, here are the 10 best paid jobs for degree holders in Singapore.

10. Quality Assurance

9. Research and Development

8. Property Management

7. Corporate Affairs

6. Finance and Accounting

5. Production

4. Project Management

3. Information Technology

2. Legal

1. Engineers

Learn more and see the full descriptions.

China’s Cabinet Creates New Department

China’s Cabinet has just created a new department to coordinate financial and economic affairs as a goal of restoring investor confidence in the government’s regulation of markets. The move has not been publically announced yet, but was reported to Bloomberg Business by an insider. Agricultural Bank of China VP Li Zhenjiang was nominated as the deputy director who will be responsible for the daily operations and he has just taken the post.

The move shows an understanding by Communist Party leaders that the current structure needs to be redone as a reflection of China’s markets and their economic slowdown. The Shanghai Composite Index has decreased more than 17% since late December.

Learn more about these plans and pay attention to their implementation in the weeks ahead.

Japan Plans Climate Financing Initiatives

Japan recently said that it plans to provide 1.3 trillion yen ($10.6 billion) in climate financing a year for developing countries from 2020. This would include both public and private funds. Prime Minister Shinzo Abe made this announcement as he gets ready to join over 100 world leaders in Paris to negotiate an agreement to limit climate change.

As he said, “Our country attaches importance to the participation of all countries in a new international framework.”

The new plan would be an increase from the current 1 trillion yen ($8.2 billion) a year that they give now. As Japan’s chief negotiator in the talks, Atsuyuki Oike said, “I think we are on the right track and I hope our contributions will be a big step forward.”

He explained that the ratio of public to private funding was not yet decided.

Japan has committed to reducing carbon emissions from their 2013 levels by 26% by 2030. While they have drawn criticism for being less ambitious than other countries, Oike has countered by saying, “Our efforts are very much substantial and ambitious. That is what we believe.”

Learn more by reading the whole article.

Relationships Between Singapore and Russia

Commercial links between Singapore and Russia are growing. This progress was recently noted after the sixth session of the High-Level Russia-Singapore Inter-Governmental Commission (IGC) which took place in Moscow. The event was chaired by Mr Tharman Shanmugaratnam, the Deputy Prime Minister and Coordinating Minister for Economic and Social Policies along with Mr. Igor Shuvalov, the First Deputy Prime Minister of the Russian Federation.

There is interest by Singapore’s offshore and marine companies to have opportunities in Russia. Food production companies in both companies are also interested in having cross-border exports.

Both countries have agreed to start the process to negotiate for a comprehensive free trade agreement between Singapore and the Eurasian Economic Union (EAEU).

Learn more details here.

Scottish Beers Coming to China

A group of Scottish beer producers have set their sites on China, Hong Kong and Dubai. the Inveralmond Brewery in Perth and the Eden Mill Distillery and Brewery at Guardbridge have benefited from the Craft Beer Clan efforts.

As Eden Mill owner Paul Miller said, “This market has been fantastically good for us. The latest order has been our third to China through Craft Beer Clan in the last year. We are excited about the Chinese market which has a lot of potential for further growth for our brewery.”

The Craft Beer Clan is the international division of Glasgow-based food and drink wholesaler JW Filshill. Their goal is to help Scottish craft brewers and distillers enter the Asia Pacific region. It is currently working with 22 brewers and four craft distillers across Scotland. They have also brokered deals with importers in Taiwan and secured orders in Thailand and Panama.

As Chris Miller of JW Filshill International said, “We attended the key whiskey exhibition in Beijing and Shanghai in August with the Single Malt Club, our distributor in China. The Chinese market is key to our international growth as consumers, they are hugely interested in Scotland and have a particular appetite for Scotch whiskey as well as premium food and drink products.

 

Uber Battles it out in China

Uber is now hoping to raise $2.5bn for its China unit. This would double the amount the company has already raised.  They are locked, at the moment, in a fierce fight with their Chinese rival, Didi Kuaidi. They have already raised $3bn in a round that closed recently. The race for the market between the two companies will be determined by who can raise the most money. Uber’s Chinese investors include Baidu, while Didi’s include Tencent and Alibaba.
Uber has said it plans to invest $1bn this year in China. Chief Executive Travis Kalanick described it as “one of the largest untapped opportunities for Uber, potentially larger than the US”.

Uber just announced a new carpooling service in Chengdu, Southwest China. This is the first time that they have launched a brand new service outside of the US. The service is being called “UberCommute” and it will enable long-haul commuters to pick up other passengers for a free who are going in the same direction.

 

 

Netflix Comes to Japan

The Japanese market is abuzz with the news that Netflix, the streaming video provider, is coming to the Japanese market.  They entered the New Zealand and Australian markets in March of 2015 and they will be launching in Spain, Italy and Portugal in October. Their goal is to achieve a presence in 200 countries by the end of 2016.

As Reed Hastings, chief executive officer at Netflix said, “With its rich culture and celebrated creative traditions, Japan is a critical component of our plan to connect people around the world to stories they love. As we expand into Asia, we’re excited Netflix members increasingly will have access to some of their favorite movies and TV shows no matter where they are.”

Netflix plans to open a regional office in Tokyo. As Gregory K. Peters, who will be the general manager of Netflix Japan said, “It is an honor to bring Netflix to Japan, and we’ll work hard to please consumers there. People in Japan soon will have access to great entertainment from all over the world for a low monthly price, while our more than 57 million members will benefit from increased access to great Japanese films and TV shows.”