With safety as its top priority, The Otis Elevator Co, one of the largest elevator and escalator producers in the world in terms of sales volume, is planning to increase investment in maintenance and repair by 30 percent in China.
In his well-known book, When China Rules the World: The End of the Western World and the Birth of a New Global Order, Martin Jacques claims China's impact on the world will be profound and, in the long term, China will seek "to transform that system while at the same time, in effect, sponsoring a new China-centric international system which will exist alongside the present system and probably slowly begin to usurp it".
Chinese purchase of British firm built on respect and mutual trust, says UK MD
The clinking of cups and saucers also means the jingling of coins in pockets
Globalization is flowing from the rest to the West so the West will have to adapt
When the Politburo makes a pledge, no one can have any doubt that it means business. Capital markets have reacted positively since the Politburo meeting at the end of last month, chaired by President Xi Jinping, said China would maintain its economic growth over the second half of the year to achieve its annual target of 7.5 percent from last year.
Despite the recent slowdown in China's economy, many foreign companies continue to see the world's second-largest economy as one of the most attractive markets now and in the future. Consumption of foreign brands by the Chinese contributes considerably to the profits of many foreign companies, especially luxury brand producers. But do foreign companies and their marketing teams really understand the changing nature of China's customer base?
After a four-year battle, a Chinese company recently prevailed over a noted French vintner to win the largest trademark lawsuit in the wine industry to date.
A sign that more Chinese LED manufacturing companies realize that intellectual property is crucial to the industry's sustainable development, a new patent association for the sector was founded last month in Dongguan city, according to China Intellectual Property News.
Air Liquide Group, the world's largest industrial gas producer by revenue, has launched the second phase of its investment program, called Tengfei II, in China this year. The program caters to the country's growing demand for oxygen, nitrogen, hydrogen and other gases.
Although recent government austerity measures have dampened the expansion plans of several foreign luxury brands in China, it has not led to a decline in the demand for such products. Lower prices for the recognized brands are proving to be an irresistible draw for Chinese shoppers.
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Raymond Zhou
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Chen Weihua
