Huawei Determined to Grow at Competitors' Expense
Huawei's contract sales in 2008 totaled $23.3 billion, declared Huawei COO Xu Wenwei recently. Xu added that Huawei had confidence it would wrest market share from its rivals including Ericsson, Nokia-Siemens, and Alcatel-Lucent and maintain rapid growth.
Haier Says It's Quitting Manufacturing
Facing steadily declining profits from its electronic appliance manufacturing, Haier Chairman and CEO Zhang Ruimin has declared that Haier was planning to quit most of its manufacturing to cut costs, better serve its clients and more quickly respond to market trends. He said Haier will transform from a manufacturer to a service company.
Home Inn's Expansion Slows Despite 85.4% Income Growth,
Despite 85.4% year on year income growth in 2008, Home Inn, China's largest economy hotel chain, is not satisfied with its profit in the fourth quarter of 2008. It is slowing its expansion and will control costs by developing franchise hotels.
Mattel Opens House of Barbie in Shanghai: a Foray into China's Retail Market
Mattel Inc., the world's largest toy company, that, incidentally, stunned the world back in August, 2007, by recalling and rejecting nearly 20 million toys made in China, is sashaying into China's retail markets. Mattel is setting up Barbie (Shanghai) Commercial Co., a wholly-owned subsidiary, and will open the world's first House of Barbie flagship store on Shanghai's trendy Huaihai Road this weekend.
Air China Swallows Private Airliner, Looks to Expand
Air China is set to acquire a 100% stake in a private airline, and is negotiating with Cathay Pacific and China Cargo Airlines, a subsidiary of China Eastern, on the establishment of a joint venture cargo airline in Shanghai.
Airbus "Loses" Chinese Order, and Everybody Has to Adjust
Airbus, the European aircraft giant, is denying a rumor that China has canceled an order for 150 planes. According to China Business News, an Airbus China executive revealed that the company had not signed any framework agreement with China, and that the order of 150 planes was itself only a rumor.
Volkswagen Ignores the Economic Winter, Plans to Thrive in China
Volkswagen is determined not only to survive the economic winter but to thrive with its success in the Chinese market. After finishing in advance of its "Olympics Plan," a three-year revival plan in China, Volkswagen has revealed its next grand plan, called the "2018 strategy."
China Eastern, China Southern Get Cash, Still Report Losses
The debt burdens of China Eastern Airlines (China Eastern) and China Southern Airlines' (China Southern) are being relieved with State-owned Assets Supervision and Administration Commission of the State Council (SASAC) injections of 7 billion yuan and 3 billion yuan, respectively, into the two airlines, though this won't prevent losses from showing up in their annual financial reports.
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