As the HR Director you'll provide senior HR advice and provide business partnership for the VMware businesses in-country. You'll be a part of the leadership team in China providing generalist operational and strategic support to businesses in all facets of HR including Employee Relations, Performance Management, and Training & Development. This is a role aimed at senior, experienced business HR professionals looking to create and drive strong HR practices in China. You’ll report to the Senior Director HR, APAC.

The Human Resources Director will play a key role as a business partner, providing expert HR advice to ensure the business's success both in the immediate and long term. This is a unique opportunity that is both hands-on as well as strategic in focus – an ideal opportunity for a hands-on generalist looking to join a successful multinational company to grow their career.

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Human Resources Director - China 
 
Job Location   Beijing
Job Status   Full Time
Job Category   Human Resources
 
Human Resources Director – China

As the HR Director you'll provide senior HR advice and provide business partnership for the VMware businesses in-country. You'll be a part of the leadership team in China providing generalist operational and strategic support to businesses in all facets of HR including Employee Relations, Performance Management, and Training & Development. This is a role aimed at senior, experienced business HR professionals looking to create and drive strong HR practices in China. You’ll report to the Senior Director HR, APAC.

The Human Resources Director will play a key role as a business partner, providing expert HR advice to ensure the business's success both in the immediate and long term. This is a unique opportunity that is both hands-on as well as strategic in focus – an ideal opportunity for a hands-on generalist looking to join a successful multinational company to grow their career.

Performance and progress in the following areas will be a priority for the Human Resources Director:
• Work closely with management to develop and/or implement specific country HR plans and strategies to support the overall business goals, and meet the client group needs. Program work could including developing and driving retention strategies, talent management, succession planning, reward/recognition, talent development and other HR initiatives as appropriate, in line with local, regional and functional direction.
• Implement key HR operational programs and plans to support the Company's strategic objectives (eg, performance management program, HRIS initiatives, retention programs, talent review, etc).
• Handle all Employee Relations issues in country contributing to a harmonious work environment including counselling employees, resolution of employee issues and grievances, performance and disciplinary issues, dispute handling, counselling, exits and terminations, coaching managers and partnering with legal and finance departments as required.
• Establish effective partnerships with HR specialist organizations like C& B, HR Operations, Staffing.
• Proactively identify and effectively address employee relationship issues and assist managers identify solutions and/or alternatives.
• Understand the business environment and translate its effect on HR for local, regional and corporate feedback.
• Effectively coach line and senior management in matters relate to people and HR processes.
• Work with the Senior HR Director - APAC and local/regional Learning and Development Manager to ensure local needs are included in overall company training requirements, leadership development, and mentoring programs.
• Develop and organise local training and team building activities for the engineering and management groups as required
• With the local management team, create an environment of "best practice" and "employer of choice".
• Review and implement HR policies, procedures, HR systems and practices which align with and support Company objectives
• Assist in benchmarking and improving practices, standards and methods to ensure all activities achieve quality standards and to improve competitiveness and business profitability
• Support the APJ compensation & benefits team in the validation of compensation and benefits surveys and provide salary survey data where necessary
• Provide information to HR administration (local and USA based) to ensure HRIS, and upgrade of HR intranet information, as required.
• Maintain a professional level of knowledge of employment law and emerging trends and developments relating to all Human Resource Management activities
• Work proactively and positively with the Global HR team to ensure consistent practices and application of HR strategy.
• To participate in any ad hoc projects as requested

The HRBP will posses the following qualifications and experience:
• Tertiary qualifications in Human Resources, Industrial Relations or a related discipline.
• Strong operational Human Resources experience (approximately 10 years+) within a multinational organisation preferably within the IT industry or similar environment. (most likely to Human Resources Manager in another company's levelling scheme).
• Experience including client group ownership, team management and HR Leadership.
• Matrix management experience (ideal)
• Experience gained within an engineering development environment (ideally software product development) within a multinational vendor is required
• Excellent knowledge of employment law
• Change Management Skills
• Ability to communicate, influence and build effective relationships at all levels of the business
• Demonstrated ability to operate autonomously using initiative, sound reasoning, listening and decision making skills
• Proven ability to work effectively as part of a small team
• Demonstrated ability to deliver results in a high pressure environment
• Willingness and initiative to ensure continued self-development and currency with the HR profession.
• Proven high level of professionalism, maturity and candour in daily work ethic
• Ability to manage ambiguity
• Demonstrate strong customer focus, and possess the energy and tenacity required to succeed in a rewarding and challenging environment.

Whilst each of our HR team members brings individual style, experience and skills to the team, all members of the HR team are very friendly and helpful with can-do attitudes. Our workload is varied and will provide challenges where we will rely heavily on each other. The environment is start up so there are many compliance and statutory issues to sort initially however thereafter there is the ability to create a best practice environment. New ideas for ways of working more efficiently to drive the business are expected!

The Financial Analysts/ Senior Financial Analysts are key players in driving our businesses for success by providing comprehensive analysis and consulting to business unit managers.  You will provide financial analysis and insights on processes, execute month-end close processes, and contribute to planning, forecasting and trend analysis.The band ranges from entry level to expert.

You will also be responsible for

--contingency reporting and disclosure functions.

--provide policy and US GAAP advice to business, including the preparation of required reporting

--analyse balance sheet related activities and perform financial month end close duties.

--in charge of the local statutory report and provide business and functional support on financial analysis.

--perform US GAAP/Corporate reporting and provide consultancy on processes, programs and projects.

--ensuring that reporting and analyses are in line with local legal and tax requirements, HP financial policies and procedures, and the Sarbanes-Oxley Act.

The company is the leading TPA (Third Party Agency) service provider that offers services in full compliance to the International legal and regulatory requirements of TPA for the Chinese insurance industry.  Since 2004, the group has been providing health risk assessment services, tailored underwriting information collecting major insurers including AXA, ING, Metlife, Aegon, PICC, China Ping An Insurance and their clients in China.   There are around 80% local or international insurance companies have become their clients.  The company’s headquarter is in Beijing, and it has recently established a regional operating center (ROC) in Shanghai.  

So far, the company is the only one provider by offering the TPA services to Chinese Insurance Industry.  It has been backed by very famous international Private Equity group and ready to go IPO soon. 

The HRD position is a management role that is responsible for planning, formulating and implementing of a nationwide Human Resources strategy plan which needs to take into consideration of the HR needs for the company HQ, Shanghai ROC as well as the forthcoming Southern China ROC.  Also, this position needs to provide advice to top management on HR issues, as well as contributing to the development of the business strategies, process improvement programs, and delivery of key business initiatives.

Position:  HRD

Report to: CEO

Location:  Beijing

TOP SELLING POINTS:

1.      The company has been backed by famous private equity company, and it is planning to go IPO soon.  This will provide candidate the great opportunity to have more achievements in a pre-IPO company and a good environment to work with high profile colleagues and investors.

2.       This company was the very first one and still is the only one in doing the TPA services in Chinese insurance industry, this makes a good platform and more opportunities to be the HR function pioneer in this industry when more competitors entry in the future.

3.       The company is expanding their business extremely fast.  It has achieved their business growth rate to 300% in past 3 years.  This will provide lots of opportunities to grow within the company.

KEY RESPONSIBILITIES:

1.        This is a HR management role that is responsible for planning, formulating and implementing of a nationwide Human Resources strategy plan.  The plan needs to take into consideration the HR needs of the company HQ, Shanghai ROC as well as the forthcoming Southern China ROC, including manpower resources recruitment, staff mentoring and technical training, staff motivation and retention and compliance to government regulation.

2.        Also, this position need to manage other functions of HR departments including C&B, organization development, employee relationship development, performance management, etc. for the whole company in order to identify and improve the main processes of the HR function.

3.        Act as a key management member by providing advice to top management on HR issues, as well as contributing to the development of the business strategies, process improvement programs, and delivery of key business initiatives. 

TOP 3 REQUIREMENTS:

1.       The ideal candidate should have more than 10 years working experiences in regional HR roles for wholly owned foreign enterprises or sino-foreign joint ventures.  With strong experience in strategic management and capable to deliver at both execution & strategic level.

2.       The candidate should have strong leadership skills with track record in past experiences for conflict resolution, interpersonal & influencing skills.  With the ability to lead the change & execute in a functional and matrix environment.

3.       Bachelor degree or above with ability to read and write Chinese and English. 

SPECIAL REQUIREMENT: Willing to travel frequently at the beginning.

For application, please send resume to career@bimba.edu.cn asap.

As China’s top business college, BiMBA has long been introducing the military organizations from which modern management derived and the top dynamic competition of wars into its study of modern business management, and BiMBA has also long noticed that top business colleges in western countries had introduced the army experience into corporate strategy, especially corporate leadership and execution. Since 2002, BiMBA has conducted profound cooperation with Academy of Military Sciences and University of National Defense and has organized senior management and military specialists to develop the Site Experience Course of Competitive Strategy, Leadership and Execution, which is oriented to top corporate managing personnel and has yielded excellent feedbacks and results. BiMBA divides the site experience course into two fronts, namely, east front and west front. The east front starts from Linyi of Shandong Province and ranges from Maling Ancient Path to Mengliang’gu Hill, focusing on competitive strategy and execution. The trainees in person experience the conditions of military command and learn how to develop and execute strategy in actual conditions. After that, the trainees will discuss about the similar decision making environment and how to solve problems in the similar environment of companies.

The course focused on case study and discussions. Through various forms of teaching, such as site teaching, group case analyses, experience and discussion and comprehensive reports, they analyzed the strategic process of classic battles and enlightened the trainees to consider how to solve problems in the corporate operation strategy and to improve their capability of decisions making and executing efficiently in the market competition.

Learn from History to Achieve Victory in Modern Times

The Art of War

Gallery:http://picasaweb.google.com/BiMBAPicture/080616PT06 

UNIDO Investment & Technology Promotion Office China (UNIDO ITPO-China) is a UNIDO field operational office with diplomatic status. It provides a wide range of professional services that facilitate China's access to investment resources, technology and know-how, marketing and managerial skills as well as in- and outward investment and technology transfer. In addition to providing research, consultation and assistance to ease the process of internationalization of local sectors and enterprises, the Office also plays many other roles, acting as a consultant to the formulation of government policy and decision making, a facilitator enabling access to domestic and international resources, a supporter in the implementation of development projects and an organizer of forums and cooperation platforms covering a broad range of fields.

UNIDO's neutrality, multilateralism, broad scope and professionalism combined with its wealth of experience in industrialization and a worldwide network of contacts makes UNIDO ITPO-China the ideal partner for two-way investment and technology promotion efforts in China.

Position:

UNIDO-program officer for industrial development.doc

UNIDO-specilist for capital operation.doc

For application, please send resume to career@bimba.edu.cn by July 28, 2008. Please write the position title in your subject.

UNIDO Investment & Technology Promotion Office China (UNIDO ITPO-China) is a UNIDO field operational office with diplomatic status. It provides a wide range of professional services that facilitate China's access to investment resources, technology and know-how, marketing and managerial skills as well as in- and outward investment and technology transfer. In addition to providing research, consultation and assistance to ease the process of internationalization of local sectors and enterprises, the Office also plays many other roles, acting as a consultant to the formulation of government policy and decision making, a facilitator enabling access to domestic and international resources, a supporter in the implementation of development projects and an organizer of forums and cooperation platforms covering a broad range of fields.

UNIDO's neutrality, multilateralism, broad scope and professionalism combined with its wealth of experience in industrialization and a worldwide network of contacts makes UNIDO ITPO-China the ideal partner for two-way investment and technology promotion efforts in China.

Postions:speicialist for capital operation

              program officer fro industriaol development

For detailed job description, please log in and check the "Recruiting Info".

By LIU YUNYUN 

Shoemakers' Conundrum

Nearly half of the shoemakers in south China's Guangdong Province have abandoned their businesses because of dismal sales, resulting from the appreciation of the yuan and the high cost of raw materials.

Data from Guangzhou Customs shows that Guangdong exported products totaling 1.35 billion yuan ($193 million) during the first five months of the year, down 15.5 percent from the same period in 2007. More notable was that shoe sales in the Pearl River Delta, the nation's shoemaking center, dropped 25.7 percent.

The Guangzhou Daily reported that weak sales forced nearly half the province's shoe manufacturers out of business. During first the five months of the year, there were about 2,400 shoe manufacturers in the Pearl River Delta, half of the number during the same period in 2007. Some have quit the business altogether, while others have moved their factories to less expensive areas.

The shoemakers also are suffering from the fallout of the U.S. subprime mortgage crisis, a major trigger of the current global economic downturn, which has reduced consumer purchasing power. Meanwhile, the possible extension of EU's anti-dumping charges against Chinese shoemakers also has forced some to abandon their businesses.

As small shoemakers are increasingly closing their doors, large ones have been picking up the slack. The Guangzhou Daily quoted an unnamed customs official who said the number of shoe manufacturers with annual sales of more than $100 million grew to four from two in the first five months of 2008.

Stabilizing the U.S. Dollar

Soaring international crude oil prices and the quickly depreciating U.S. dollar has caused jitters among Chinese citizens.

In his talks with U.S. Secretary of State Condoleezza Rice, China's Premier Wen Jiabao urged the United States to take effective measures to stabilize the dollar and prevent the global economy from entering a recession.

Some analysts argued that the depreciating U.S. dollar caused the value of China's foreign reserves, mostly dollar assets, to shrink sharply.

China has taken steps to safeguard its economic development and hopes the United States would overcome its credit crisis soon, Wen said.

Overseas Acquisition: Not So Good a Deal

Investors responded unenthusiastically to two overseas acquisitions by Chinese financial institutions by selling shares in the acquiring companies.

The two deals were China Merchants Bank Co.'s (CMB) 17.2-billion-yuan ($2.46 billion) acquisition of Hong Kong-based Wing Lung Bank Ltd., and Ping An Insurance (Group) Co. of China Ltd.'s 2.15-billion-euro purchase of a 50-percent stake in Fortis Investment Management NV/SA, the global asset management arm of Fortis SA/NV.

CMB's shares on the mainland A-share market lost more than 30 percent of their value one month after the company announced its acquisition of the loss-generating Hong Kong company on June 3. Ping An's share price dropped 20 percent to around 40 yuan ($5.7) per share three days after it issued its acquisition statement on June 30.

The bad performance of the two weighted stocks further dragged down the already stumbling mainland A-share market, which nosedived 48 percent.

Both investors and analysts complained CMB paid too much for a mediocre bank, which lost HK$82.5 million ($11.8 million) in the first quarter. CMB agreed to offer HK$156.50 a share, or HK$1.50 more than Wing Lung's record high share price. Wing Lung traded for less than HK$90 a share last year, but had soared to more than HK$150 since this March, defying the bearish Hong Kong stock market.

CMB was once one of the favorites of fund managers. But after it announced the Wing Lung acquisition, they rushed to sell the bank's shares to show their discontent with the company's decision.

International investment banks also sold their positions in the bank. A Goldman Sachs & Co. research report said CMB's capital adequacy ratio would be greatly reduced after the acquisition. Standard & Poors Ratings Services put CMB in the "credit watch with negative implications" category.

Deng Ting, an analyst at Guodu Securities Co. Ltd., said in a report that tightening measures as well as risks from real estate industry would place pressure on banks. She said the banking sector's growth rate would slow to 15-20 percent next year from around 50 percent this year, which would negatively impact the evaluation of the bank's shares.

Futures: an Alternative

The gloomy stock markets have dampened investor sentiment and are increasingly forcing investors to turn to futures.

The China Futures Association issued a report on July 1, which said that the futures trade volume hit 35 trillion yuan ($5 trillion), an increase of 142 percent over the first half last year. Futures markets nationwide realized 577 million contracts in the first six months, up 148 percent over the same period in 2007.

Market analysts attributed the increase to an improving domestic market environment as well as fluctuating domestic farm product prices caused by surging grain prices in the world market, China's snowstorm earlier this year, and the massive Wenchuan earthquake in May.

Compared with the mature commodity market, the Chinese futures market is much weaker and offers only a few types of contracts. Futures trading of pork, steel, crude oil, silver and lead is expected to be introduced to the market in the future, said Yu Junli, research director of Green Futures Inc., a consulting firm that specializes in futures. Yu said in an interview with Xinhua News Agency that his firm also expected to see the introduction of stock index futures this year.

Too Many Hotels

The Chinese hotel industry has an excessive supply of rooms.

SAO Hotel Solution Consulting Ltd. said at a hotel industry conference in Tianjin on June 26 that the number of star-rated hotels in the country had risen to 14,327 by the end of last year, up 100 percent from the amount in 2000.

But occupation rates were going down. The occupation rate of five-star hotels in Shanghai dropped to 68 percent in 2007 from 72.33 percent in 2005. Beijing's five-star hotel occupation rate also dropped 3 percent during the same period.

Many hotels were built specifically to accommodate an anticipated influx of visitors during the Beijing Olympic Games on August 8-24. Experts have warned about a possible industry recession after the end of the Olympics as well as a general economic slowdown.

Forging a Homegrown Coffee Brand

Dehong Hougu Coffee Ltd., Asia's largest coffee bean supplier to Nestle SA, said it would promote its own brand throughout China and gradually stop providing coffee beans to Nestle. Hougu has supplied beans to the Swiss food giant for more than a decade.

Xiong Xiangru, Chairman of Hougu, told a recent news conference that his company sent a notice that said: "Hougu coffee will no longer remain a raw material supplier and will be committed to creating its own brand, so that someday Hougu coffee can get ahead of Nestle and other major coffee brands."

China has supplied beans to foreign coffee giants such as Nestle and Starbucks Coffee Co. for decades, but local coffee bean growers have been hampered by their lack of knowledge and technology in processing the beans.

Hougu will provide good quality yet inexpensive coffee to the public for 1 yuan ($0.14) per cup. "In our country, coffee is positioned as a fashionable high-end consumption," Xiong said. "But it is actually common and cheap in other countries in Europe and America."

Xiong said Hougu planned to become the first listed coffee company on the mainland stock market in about 2010.

Nestle believes Hougu's move will not have a major impact on its business, because it has more than 80,000 coffee bean suppliers and farm households in Yunnan Province to guarantee its supplies.

From BEIJING REVIEW:http://www.bjreview.com/business/txt/2008-07/05/content_131744_3.htm

China took the world by surprise with its remarkable economic achievements after it launched reform and opening up 30 years ago, especially in the last five years. But such exploding growth cannot happen without a maturing market economy and corresponding macro-economic controls. The past five years have seen the control measures evolve in tune with the country's economic changes.

In 2008, the economy is confronted with daunting challenges, including the devastating Wenchuan earthquake. Nevertheless, it is widely believed that the country's economic base will stay intact. The government's stringent grip on both inflation and a sizzling economy will not be relaxed. We still can't rush to the conclusion that the country's economic growth has come to a threshold that signals a downward trend.

A new economic era

China's macro-economic controls have kept pace with an array of radical changes incurred in the economy since 2003.

The first is a more energetic economic system. On the one hand, the socialist market economy has been erected. The public economy has developed diversified forms and the non-public economy flourished. Multiple ownerships can compete with each other on an equal footing, which has posed a stimulus for their development.

On the other hand, the markets of various production elements, such as labor force, capital, technologies and land, also experienced exuberance. The market plays a bigger role in resource allocation. The new system has elevated market efficiencies and helped with the country's material supplies. The acute shortages of coal, electricity, oil, transportation facilities and important raw materials that choked the economy before have all significantly moderated.

The second is an acceleration of industrialization and urbanization. Since the beginning of the new century, China's per-capita income has reported substantial rises. The country's per-capita gross domestic product breached $1,000 in 2001 and toppled $2,000 in 2006.

Besides this, the higher income, upgraded consumption and industrial structures and the above-mentioned stronger supply capabilities all contributed to a surging potential growth rate. Potential growth rate refers to a growth rate that can be achieved on condition of full and adequate use of all resources and no inflation.

The third change in the Chinese economy is more economic openness. China's foreign-related economy has picked up momentum in the past five years, extending further and probing deeper into new sectors.

Since entering the World Trade Organization (WTO), the country has safely navigated through the transition period. Its foreign trade has boomed, the influx of foreign investment got in full swing, and its forex reserves are also swelling. Meanwhile, China is geared up toward going global and exploring the international market, reflected in its euphoric overseas investments.

On the financial frontier, the country's capital accounts are opened to the world. The reform of the renminbi exchange rate mechanism has been forging ahead since 2005, endowing the Chinese currency with greater resilience. All these have allowed greater breathing room for further development, but at the same time added difficulties to macro-economic controls.

The fourth change is pressing demand for sustainable development. Through 30 years of rapid progress, China has made considerable headway in economic aggregate and composite national strength. But some problems still loom large. For example, the imbalances between investment and consumption, and the disproportion among primary, secondary and tertiary industries remain to be tackled. Extensive economic growth mounts heavy pressures on resources, energy and the environment. Outdated systems stemming further development are yet to be removed. Besides this, dedicated efforts are still needed to improve the living conditions of the people.

New controlling moves

Appealing to changes of the general economic situation in recent years, China has employed adaptable measures to keep the macro-economy healthy.

Firstly, market instruments prevailed on the basis of flexible market systems. The macro-economic controls as of 2003 have largely been realized by economic and legal means, with administrative measures as assistance. A mix of multiple policies has been coordinated in use, including policies on taxation, land use, industries, foreign trade and foreign exchange. Meanwhile, market instruments have also been wielded, such as a basket of monetary policies on the reserve requirement ratio, interest rates, open-market operations and window guidance.

Secondly, a gradual approach has been taken in macro-economic controls so as not to make a dent on the potential growth rate. Positioned in the middle of urbanization and industrialization, China may see rises in its potential economic growth rate, but is also likely to undergo steeper fluctuations. The macro-controls are aimed at preventing an overheating economy, as well as a fallout. A step-by-step approach therefore should be deployed to shield market vitality.

Thirdly, macro-economic controls should take account of both internal and external factors. China has merged into the globe, compelling a macro-perspective to manage the economy.

The Chinese economy has its ingrained woes, such as bubbling investments in fixed assets, over-abundance of money supply and excessive trade surplus. These problems are actually related to the domestic economic pattern with aggregate savings exceeding aggregate investments. As a result, the economy has to rely on external demands to offset the deficient domestic demands. But with the trade surplus sizing up, the money supply would in tandem run rampant, fuelling excessive liquidity. Given that, domestic inflationary plagues would further aggravate, with asset prices creeping upward.

Macro-economic controls should therefore use both internal and external levers. For example, to soak up liquidity, the reserve requirement ratio and interest rates were raised. On the other hand, export rebates on energy-depleting, high-emission and resource-based products were abolished or slashed, so that the credit expansion could be curbed, trade surplus was trimmed and emission reduction encouraged.

Fourthly, the macro-economic controls are bent on sustainable development. In other words, the controls are blended with economic restructuring, growth mode updates, system reforms and improvements in people's living conditions.

Fresh challenges

In 2008, plaguing the Chinese economy are three fresh challenges.

The first is growing inflationary pressure. The Central Economic Work Conference held in December 2007 attached priority importance to warding off an overheating economy and evident inflation. This entails striking a balance between curing inflation sores and maintaining healthy economic growth with stable employment.

The second is shockwaves sent from international economic waters. For example, the simmering U.S. sub-prime mortgage meltdown may reverberate into world markets. Furthermore, spiraling prices for oil, grain and raw materials in the international markets have cast uncertainties over the future development of the Chinese economy.

The third is the sudden outbreak of massive natural disasters, such as the snowstorms that battered south China in late January and the May 12 Sichuan earthquake. They have added difficulties to macro-control efforts. Take the earthquake for instance. It serves as a dragging force, but also as propulsion to economic growth. Besides taking high death tolls, it wreaked havoc on the production and infrastructures in disaster areas. However, the relief efforts and post-quake rebuilding could widen consumption and investment demands.

In the present economic circle starting from 2000, China's economy has quickened at the pace of 8-11 percent for eight years in a row. This is an unprecedented record in the country's economic history. Due to the stringent tightening policies, the country's economic growth may slow down to around 10 percent this year. But that does not mean a turning point, as the future trend still needs time to express itself.

From BEIJING REVIEW:http://www.bjreview.com.cn/business/txt/2008-06/30/content_130359_3.htm

By LIU YUNYUN

Chain Effects of Oil Price Hikes

Chinese mainland refined oil price hikes have caused a series of chain effects on both major oil consumption enterprises as well as people’s lives, resulting in jitters about inflation.

Beginning on June 20, the benchmark gasoline and diesel oil retail prices were marked up by 1,000 yuan ($145) per ton, while the price of aviation kerosene was up by 1,500 yuan ($218) per ton.

The Central Government controls refined oil prices. The last time such hikes took place was last November, when international crude oil price reached around $90 per barrel. The international oil price has surged nearly 50 percent since then.

Inflation is expected to go up along with oil prices. Merrill Lynch & Co. Inc.published a report on June 20, arguing that, although the National Development and Reform Commission (NDRC) forbids price increases in public utilities and taxies, the impact of such hikes will be quickly passed on to consumers through other channels, especially food prices in urban areas. Merrill Lynch thus raised its annual consumer price index inflation forecast in 2008 to 7.5 percent from the previous 6.9 percent.

Impact on listed companies: Share prices of two mainland oil giants-China Petroleum & Chemical Corp. and PetroChina Co.-climbed upon the news. The markets expected the price hikes would cover some of their losses in the refined oil section, though it was still one third less than that of the international prices.

Other A-share listed companies were not so optimistic. Some complained the price hike would push up their production costs, and pose a negative impact on their revenue. For instance, Jiangsu Qionghua Hi-tech Co. Ltd. published a notice on June 23, noting this round of price hikes would add 1.15 million yuan ($164,000) to their costs in the second half of this year.

On airlines: Chinese airlines will have to bear the biggest burden. Tianxiang Investment Consulting Co. Ltd. estimated in its June 20 report that airlines’ profitability will deteriorate. The whole aviation industry is expected to spend an extra 10 billion yuan ($1.43 billion) on fuels. Earnings per share of Air China Co. Ltd., China Southern Airlines Co. Ltd., and China Eastern Airlines Corp. Ltd. will go down 0.15 yuan, 0.75 yuan and 0.45 yuan respectively, according to Tianxiang Investment Consulting.

However, National Business Daily cited an anonymous NDRC official stating that the government would come to the rescue. It was reportedly to raise fuel surcharge up to 50 percent of the original prices to offset losses incurred by airlines. Tianxiang argued the surcharge hike could only cover 60 percent of the cost surge.

On public transportations and railways: The prices of public transportation, taxi and railways were forbidden to rise, according to an NDRC emergency notice on June 23. It ordered local governments to strictly check the chain effects of oil and electricity price hikes.

The NDRC urged operators to find other ways to increase profitability, and vowed to cut tolls for vehicles carrying agricultural products.

Compromising on Iron Ore

China’s leading steel mill, Baosteel Corp. Ltd. agreed with Australian suppliers to an increase of 96.5 percent on iron ore prices, much higher than the 65-71 percent increase set with Brazilian suppliers. The agreement was reached after months of arduous negotiation as suppliers required higher freight fee.

Analysts expected the earnings of Chinese steel mills would go down, but the mills would quickly pass the cost surge onto consumers to offset the rising cost. The move would eventually jack up the runaway inflation.

Baosteel agreed on June 23 to pay 96.5 percent more to Australian Rio Tinto’s Pilbara Blend Lump for 12 months beginning April 1, 2008. In February, Baosteel had agreed to pay 65-71 percent more to Brazil’s Cia Vale do Rio Doce for ore fines.

The Australian side argued the shipping cost from Australia to China was much lower than that from Brazil to China, thus demanded a higher shipping fee from the Chinese side.

Baosteel stated in a notice to Xinhua News Agency that the iron ore price was set after “friendly negotiation,” and showed “both sides’ commitment to safeguarding sound market order and maintaining long-term friendly cooperation.”

Major suppliers are calling the shots in deciding iron ore prices, posing enormous pressure on domestic steel makers. Judging by Japanese experience, the Chinese companies should buy stocks and aim to become one of the major shareholders of suppliers, therefore they will be able to share the profit of rising iron ore prices, said Shan Shanghua, Vice Secretary of China Iron and Steel Association.

CDB Defied Market Turbulence

Amid global financial market turmoil, China Development Bank (CDB) stated it would increase its presence in the British bank Barclays Plc by acquiring more of Barclays shares.

Barclays, Britain’s fourth largest lender, announced on June 25 it would raise approximately 4.5 billion pounds ($9 billion) through the issue of 1.58 billion new ordinary shares.

CDB did not reveal how much more it would spend on Barclays. But a CDB official said the decision was aimed at consolidating the bank’s position as Barclays’ biggest shareholder and showing its confidence in the British bank’s strategy and prospects, according to Xinhua News Agency.

Barclays Chief Executive Officer John Varley said in a press conference he would use half the proceeds to bolster the bank’s capital adequacy, while the rest will be used for other business opportunities, including possible acquisitions, increasing consumer lending in Asia, and investment banking in the United States.

However, the depressing international financial markets had increased uncertainties for this transaction. CDB became a major shareholder of Barclays last year, and is now holding 3.1 percent of Barcalys’ shares. CDB bought Barclays shares at about 7.2 pounds, but the latter’s share prices has dropped half to around 3.3 pounds at present.

Xi Yangjun, financial professor at Shanghai University of Finance and Economics, believed it was a golden opportunity to buy Barclays shares. “The bank’s share price is at a very low level, mainly because of the subprime mortgage crisis. But the bank’s internal management did not show any problem,” said Xi.

Easing Energy Tension

China’s first coalbed methane (CBM) pipeline is expected to function at the end of this year, after which CBM will run from Shanxi Province to the east part of the country.

China National Petroleum Corp. (CNPC) announced the pipeline, 35 km long, would be capable of carrying 3 billion cubic meters of CBM each year.

CBM is a new energy source with no pollution and high in caloric value. It is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in the United States, Canada, and other countries.

CNPC stated that natural gas supplies will fall 60 billion cubic meters short of demand in China by 2010. “The project will make use of CBM in a more economic way and supplement sources for the west-east gas pipeline and ease the gas supply strain,” CNPC said in a public statement on its website.

From BEIJING REVIEW:http://www.bjreview.com/business/txt/2008-06/30/content_130473_2.htm

PRINCIPLE DUTIES AND RESPONSIBILITIES:
* Report directly to Finance VP – Great China
* Be responsible for overall planning and controlling activities for all Great China operations;
* The responsibility include but not limited to planning, controlling, loss provision, auditing, treasure and M&A.
* Build up high efficient reporting and controlling system, procedures and platform in line with company business development;
* Make sure that all process be in proper controlled;
* Be responsible for the Planning and controlling department budget, planning, personnel training, motivation and development in accordance to global guideline;
* Managing the weekly, monthly, quarterly, annually Financial management Report to be accurate, properly handling in accordance to management requirement;
* Provide financial analysis reports to each level management team on time;
* Cooperate with HQ to provide treasure service to other group companies;
* Manages staff and develops good relationship with internal customers and outside vendors;

Requirements:
Degree in Accountancy or equivalent/CPA/ACCA/CIMA/MBA (preferably);
10+ years of relevant working experience with 3+ years at equivalent level in MNC;
Strong PRC exposure with a comprehensive understanding of regulations and requirements for PRC accounting;
Fluent in both Mandarin and English
A strategic, hands-on and meticulous finance professional with strong analytical skills;
Strong interpersonal and communications, leadership and management skills;
Self motivated, be able to work well under pressure.

Finance Director, Accounting

PRINCIPLE DUTIES AND RESPONSIBILITIES:
* Report directly to Finance VP – Great China
* Be responsible for overall financial accounting activities for all Great China operations;
* The responsibility include but not limited to GL, AP/AR, Tax, system development and regional team
* Build up high efficient Accounting system, procedures and platform in line with company F&A guideline and policy;
* Make sure that all transaction be in proper account and reporting status;
* Be responsible for the Accounting department budget, planning, personnel training, motivation and development in accordance to global guideline;
* Managing the monthly, quarterly, annually Financial Report to be accurate, properly handling in accordance to China GAAP, US GAAP and IFRS;
* Provide financial, statistical reports, financial audits report, and tax returns reports to Board Meeting;
* Provide the financial service to other departments and implement the Improvement Program;
* Manages staff and periodically reviews general ledger entries, to check accuracy and compliance with the established rules and accounting principles;
* Deliver cost reimbursement reports and other interim reports.

Requirements:
Degree in Accountancy or equivalent/CPA/ACCA/CIMA/MBA (preferably);
10+ years of relevant working experience with 3+ years at equivalent level in MNC;
Strong PRC exposure with a comprehensive understanding of taxation, regulations and requirements for PRC accounting;
Fluent in both Mandarin and English
A strategic, hands-on and meticulous finance professional with strong analytical skills;
Strong interpersonal and communications, leadership and management skills;
Self motivated, be able to work well under pressure.

If you are interested in these positions above, please send resume to career@bimba.edu.cn with the position title in your subject.

     +86 10 62754886

Fax: +86 10 62754886

Email: bic@bimba.edu.cn

Address: Room 703, China Center for Economic Research, Peking Uinversity, Beijing 100871, China

Sample I: Beijing + Xi’an + Shanghai + Suzhou (11 days)

Sample II: Beijing + Shanghai (7 days)

Sample III:  Beijing  ( 7 days )

l        Chinese economic development and current economic policies

l        Is China’s growth sustainable?---Understanding Chinese economics

l        Overview of Chinese diplomatic relationship with U.S. and its impact on the international business

Area II: Management in China

l        The key success factors of operating in China

l        Think globally, act locally—multinationals practice in China

l        External environment and challenges of foreign business in China

Area III: History and Culture

l        Overview of Chinese history and its impact on current China

l        Confucianism and its impact on business practice in China

l        The Qin unification of China and its legacy