German automaker Volkswagen has started a recruitment program in China. Provided to China Daily

Jobs

VW reaches out for more local talent

With new plants under construction and new products in the pipeline, German automaker Volkswagen Group has reached out to new local talent for its fast-expanding business in China.

The carmaker started a program in the middle of the year called "China 60" to search for qualified professionals to fill high-level positions at key functions of its China joint ventures.

Recruits will be trained for 18 months, including six to 12 months in Germany, before they take on "key positions" at local joint ventures that used to be staffed by German experts, said Klaus Dierkes, executive vice-president of human resources and board member of Volkswagen Group China.

Food

Danone to review China strategy

Global food giant Groupe Danone SA has suspended production at a Shanghai plant and Nestle SA is closing one of its three ice cream factories on the Chinese mainland.

The moves are part of the companies' separate strategies to restructure their business models in the Chinese market.

"We've suspended production at a yogurt factory in Shanghai and we're now making internal adjustments to ensure that we will soon have a more focused market target in order to provide high-quality products for Chinese consumers," said Xu Jie, a spokesperson for Danone Dairy China.

Aviation

Qatar Airways set to continue expansion

Qatar Airways Co plans to double its number of flights in China to 70 a week by 2013, its chief executive officer said.

The Doha-based carrier, which is the national airline of the State of Qatar, has just increased its frequency across China from 25 to 35 flights each week.

On Nov 28, Qatar Airways launched Chongqing as its fifth destination in China and on Dec 2 the carrier also added three new flights to Beijing and four extra weekly flights to Hong Kong on Dec 2.

Property

US developer builds financial plaza in Tianjin

Construction on a US-invested financial plaza began on Dec 12 in North China's coastal city of Tianjin.

US real estate developer Tishman Speyer has funded the construction of the plaza at a cost of about 6 billion yuan ($948 million, 723 million euros).

With a total area of 420,000 square meters, the plaza is designed to be a financial complex consisting of office buildings, hotels and relevant facilities, according to Katherine Farley, senior managing director of Tishman Speyer.

Energy

Sinopec increases stake in APLNG

China Petrochemical Corp, the country's biggest oil refiner, has signed a deal to increase its stake in the coalbed methane producer Australia Pacific LNG Pty Ltd (APLNG) to further tap into sources of unconventional natural gas overseas.

The company, also known as Sinopec Group, said in a statement on Dec 12 that it would acquire an additional 10 percent of APLNG, which is jointly owned by ConocoPhillips Co and Origin Energy Ltd.

Deals

Seagate-Samsung HDD deal gets conditional approval

The Ministry of Commerce on Dec 12 conditionally approved US-based Seagate Technology Inc's plan to buy Samsung Electronics Co's hard-disk drive (HDD) business, paving the way for an alliance between the two companies in China.

The merger will have a negative impact for Chinese consumers as China has become one of the world's largest personal computer markets, the ministry said in a statement on its website.

Although the merger will have an effect of excluding or limiting competition in the HDD market, the ministry said it approved the deal after Seagate and Samsung agreed to come up with solutions to reduce the negative impact on competition.

Retail

Watsons to open 2,000 stores in five years

Health and beauty retail giant Watsons plans to open 2,000 stores on the Chinese mainland over the next five years to maintain its market dominance in the personal care sector.

"By the end of 2016, we will have 3,000 stores in more than 300 cities," said Christian Nothhaft, CEO of Watsons China on Dec 9.

In 1989, the retailer entered the Chinese mainland by opening its first outlet and by 2009 it had 500 outlets in the mainland. By 2011, the company has also become the largest health and beauty chain on the mainland, with over 1,000 stores in 100 cities.

China Daily - Agencies

(China Daily 12/16/2011 page14)