CeBIT exhibit
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06/15/2001
CeBIT ASIA will debut at Shanghai Everbright Convention and Exhibition Centre on August 8 in a display of information technology and telecommunications. The four-day exhibition, organized by Hannover Fairs China Ltd, is tailored to the needs of the Chinese market, which is expected to become the world's second largest in the IT sphere in around five years. Bank-SMEs deal Minsheng Banking Corp's Shanghai Branch signed agreements on Monday with 13 Shanghai small- and medium-size enterprises (SMEs), pledging a total loan of 18.7 million yuan (US$2.25 million) and entering into co-operation agreements with another 12 enterprises. In order to ensure that SMEs, which usually lack real estate, have opportunities for loans, the bank is co-operating with four asset management companies - Yinlian, Huayin, Jinzhuan and Baiyexin - to allow SMEs to use moveable property as collateral. SKF's expansion Bearing maker SKF plans to set up a maintenance service facility in Shanghai later this year. SKF has been expanding in China, investing more than US$100 million in joint ventures and wholly owned subsidiaries including SKF Automotive Bearing Co Ltd in Shanghai. Bjarne Johansen, vice-president of the service division, Asia Pacific, said the facility will bring advanced maintenance technologies. Kama in Mexico Worldbest Kama Machinery Company in Pudong Sunqiao Agricultural Zone has invested US$20 million to open a factory in Mexico, focusing on the 20-80 horsepower tractor market and other agricultural machinery. Xu Guoxiong, general manager of Worldbest Kama, said the factory will be a base for expansion into markets in the Americas. Worldbest Kama Machinery is one of four listed companies of textile firm Worldbest Group. New Paris flight Air France plans to inaugurate a third cargo flight from Shanghai to Paris later this year. Bernard Aubreton, general manager of the company, said business was good -- Air France has seen an increase of 14 per cent in passengers travelling from Shanghai to Paris through co-operation with China Eastern Airlines. Half of the passengers are Chinese. Co-working ports Shanghai-based China Shipping Company (CSC) has signed a letter of intent with Tianjin Port Administration to co-manage container wharves. A CSC senior manager said the company is expected to invest about 600 million yuan (US$72.3 million) in renovating Tianjin wharves. This year, CSC will have 500,000 20-foot containers handled at Tianjin Port, compared to last year's 350,000. Slowdown in shipping China's shipping market is witnessing a slowdown in cargo business: the composite freight price index for export containers dropped 1.6 per cent on Monday from last week. The index was reported at 1,107.26 points. Xu Minjie, a spokesman with the Shanghai Shipping Exchange, said service to the United States has decreased.
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