Today's Shanghai | News(2001)

April

Shanghai is becoming an increasingly popular venue for international conferences and exhibitions. From the Fortune Global Forum and UN symposium on Disarmament and Security in Asia and Pacific to the coming summit of the Shanghai Five and the APEC annual meeting, international conferences and expositions are being held in Shanghai. According to industry sources, the city hosted 146 international conferences and about 200 international exhibitions in 2000. Relevant figures show that international arrivals at Shanghai exceeded 1.8 million in 2000, while its tourist income totaled $1.5 billion.

Veritas Software Corp of the United States has relocated its China headquarters from Beijing to Shanghai, "Shanghai is a coveted market which provides many business opportunities," Veritas Asia-Pacific Vice-President Craig Stevens said. Stevens said Veritas is considering a plan to further invest in China by co-operating with Chinese partners. He revealed that Veritas will spend$3.9 billion within the next five years developing new products for its global market. Some will be available for Chinese customers.

Shanghai Video & Audio Electronics Co Ltd (SVA) has joined with US-based Internet security solution provider Intrusion.com to develop web infrastructure and security products. SVA Intrusion Co Ltd, has a total investment of 170 million yuan ($20.5 million). SVA, one of the earliest listed companies in China, is the majority shareholder of the newly formed company.

An international hotel equipment and supply expo will be held at Shanghai Everbright Convention and Exhibition Center on April 17. The four-day exhibition, sponsored by Shanghai Tourism Commission and MF sinoexpo, will display exhibits from 300 companies. The world's 10 well-known hotel groups operate more than 80 hotels in China and comprise a market opportunity for the expo.

Foreign investment in the city hit $2.1 billion in the first quarter of this year, 2.1 times as much as that of the same period of last year, Shanghai Statistics Bureau's latest report showed. The city signed a total of 546 contracts with foreign investors, 154 more than that of the first quarter of 2000. A total of $899 million of foreign capital has already been channeled into the city, up 39.7 percent from the same period in the previous year.

China Merchant Bank (CMB) Shanghai Branch's alliance with China Communication Securities Co Ltd will allow its "All in One Card" banking card users to trade securities directly with money deposited in the bank. Its move was followed by the Industrial and Commercial Bank of China (ICBC) and Agricultural and Commercial Bank of China. Bank of Communication Shanghai Branch has also allowed its Pacific card to do forex trading directly.

BASF will launch a project at Shanghai Chemical Industrial Park to produce key components for production of polyurethanes.The project, which will be completed at the end of 2004, is a joint venture with Huntsman Polyurethanes of the US and Shanghai Tianyuan Company. Its investment will total 1 billion euro ($1.1 billion), said Erich Binckli, president of BASF East Asia Regional Headquarters Ltd.

On April 16 Shanghai Government held a conference to praise for the achievements in field of science & technology.

From this month, Shanghai Economy Trade Committee will adopt new generation internet technology transmitting the industry information to some districts, counties, bureaus and many groups. The new technique facilities will take place the using of the telephone and Modem. The information industry's gross products are expected to 400 billion in 2005.

Recently the work rectifying the market has entered a climax in Shanghai. In order to become the real cosmopolitan in the world, the entirely market system has come into being from the year 1990,

2001 Shanghai Spirit Civilization Conference was hold on Apr 5, the task of the conference was to take the new century's spirit civilization to a new look.

Yu Xiao Song the chairman of the 2001 Industry Commerce Leaders Summit Prepareing Committee declared that 2001 Industry Commerce Leaders Summit which was one of the APEC would be held on Dec 18. It was organized by the China International Trade Promoting Committee and the theme of this summitt was: new century new economy: the development in the globe. It would last three days.

On June 15th the heads of "Shanghai five countries" will come to Shanghai. They will change views to continue the development of these five countries. This is one of the significant diplomatic conferences in China in the year 2001 and also is one of the two important conferences held in Shanghai in 2001.

2001 Shanghai International Industry major fair or exhibition will open from Oct 22nd to Oct 27th in this year. Recently Shanghai has cooperated with the west areas in many important fields and completed the 529 cooperating items, the total money investment has reached 40.2 billion yuan. During the period of the conference, a forum ahout the west area's development also will be held. And through the exhibition it will give opportunities to west area walking towards the world.

In order to ensure the success holding of the "Shanghai five countries" summit and the APEC, "Shanghai road communication controlling regulations" will be revised recently.

After the two great shipbuilding factories "Jiangnan" and "Qiuxin" having been associated into the new "Jiangnan Shipbuilding Group", the other two great shipbuilding factories "Hudong" and "zhonghua" have combined into Hudong Zhonghua Shipbuilding (Group) Co.,Ltd., becomes the biggest Chinese vessel manufacture base. The company is hoped to become the world first classic vessel manufacture enterprise in five years.

Shanghai WTO affairs data centre was established in Pudong on Apr 7 and it opened to society at the same time. The centre's material includes the headquater information of WTO, WTO's chinese and foreign specialty newspapers and books, the central authorities and Shanghai government department's WTO's affairs data and WTO's specialty information data.

To accelerate to the progress in meeting and greeting the new big challenge after China enters the WTO, Shanghai's industry is commencing new structure reform. Industry structure:completely upgrading; product structure: coming into being comprehensively competition advantangeous position; technology structure: coming into being self opening up and developing ability; enterprise structure: emerging in large number of international enterprises; elite structure: basically coming into being elites base.

Shanghai will establish the international mobile city, which has six function districts: mobile open up, develop and manufacture; mobile trade; mobile service; moblie goods and materials circulate; mobile culture and tour.

With the day that Shanghai red-crossing having been established for 90 years, all levels of red-crossings in Shanghai are greeting the festival by donating their love heart.

Shanghai Lexing Information Technology Co.,Ltd. and Liantong Shanghai Company declared on Apr 9 that they would use the 191 platform providing foreign languang service to APEC.

Shanghai Labour Bureau and Society Safeguard Bureau recently organized the lay-off to German receiving the skill training. The lay-off needn't pay money for this training. By the end of March, The Labour Bureau and The Society Safeguard Bureau had provided many chances like this to the lay-off and helped them find a job again.

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