Hello Chuan’rs and Chuan’r watchers, time to stream the stories from China in Chuan’r style as our first event is in sight.
Many in Europe have heard about the antitrust blitz against foreign firms in China, which resulted in a restrained protest from the European Union Chamber of Commerce in China (EUCCC). Some like WSJ blogger Andrew Browne, would acknowledge “some multinationals have adopted sales practices in China that might be ill tolerated by customers—or regulators–in Europe or the U.S.”, but opaque political environment does mess up the game. The President of EUCCC, Joerg Wuttke, has given his verdict: “the golden time for multi-national companies in China is over”.
However, there might be still Silver Times following. One of the top banks of China, ICBC, recently made a big deal with IBM, which seems to increase the dependency of Chinese banks on the IOE. New comers like Tesla Motors might still keep their dreams about future success in China. Just recently Chinese government is said to consider $16 billion EV-Charging fund, though it is not clear whether they will be compatible to foreign cars. Foreign firms might also find a way to reduce costs by using robots instead of increasingly “expensive” Chinese workers. Private health sector is certainly having a good time: UPMC will help China build private medical center to boost public care.
In July, China’s mobile phone user base grows to 1.263 billion, but China Telecom has failed to quickly attract more users to its less-than-satisfying 3G service. Or maybe abundant wifi connection provided by most commercial facilities in China are to be blamed? Anyway, China Telecom is practicing on its seduction skill with iPhone 6 art on weibo, a Chinese twitter-like service. Yes, those that don’t use Social Network Systems (like weibo or weChat) are like endangered species now.
Oh, did I mention I took my daughter to Sony Center in Berlin only to find out that they screen “How to Train Your Dragon” during school time only? Maybe I should take her to China instead, where the movie stays on top of the list and I bet the Chinese theatres play it in incessant loops. But after the dragon course, I should bring her back to Berlin immediately, so as to avoid the less-than-inspiring Chinese movies for teenagers and twenty-somethings nowadays.
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