Sino-File

Don’t retreat
Mar 24, 2017 (WiC 359)
“Globalisation in general is great for the world”

Tim Cook, the Apple boss, defends globalisation at the influential China Development Forum in Beijing last weekend. He admitted that the gains were not evenly distributed within countries but he cautioned against retreating from globalisation as a response.

Revving up
Mar 17, 2017 (WiC 358)
“Last year we delivered 65,246 units and China once again became our single-biggest market. There is still potential for us to grow here”

Franz Jung sounds a bullish note to China Daily. The CEO of Porsche China said the German luxury car firm has 96 Porsche Centres in the country and will add 12 more “most of them in third- or fourth-tier cities”.

At arm’s length
Mar 10, 2017 (WiC 357)
“The gap in capabilities with the US is enormous, but China’s military development and construction will continue in keeping with our need to defend our national sovereignty and security”

Fu Ying, spokesperson for China’s National People’s Congress, comments on the announcement that Chinese defence spending will rise about 7% this year. She added that this equated to 1.3% of projected 2017 GDP, which is lower than the 3.3% of GDP spent by the US in 2015 on defence.

Craft spirit
Mar 3, 2017 (WiC 356)
“However much they try, their brands aren’t premiumising well. Consumers view them as the cheap brew that their parents and grandparents turned to. They want something different.”

Gordon Orr of McKinsey comments on the sales declines of local beer brands Snow, Tsingtao and Yanjing last year. The Financial Times notes that foreign premium beers and local craft beers like Panda Brew are taking a bigger market share in China. WiC first reported on this trend in issue 346 in our article ‘The yeast is red’.