Shen Danyang

MNCs in the News-2016-09-30

China’s Ministry of Commerce (MOFCOM) dismisses foreign business concerns about the investment environment for foreign direct investment (FDI). Microsoft, whose Windows 8 was banned two years ago on government computers, is now working on a localized government operating system for China. Outward FDI (OFDI) by Chinese financial institutions jumped 26 percent in 2015 while Chinese OFDI hit a new record. Chinese private firms become the dominant Chinese overseas direct investors in 2015. ChemChina seeks European Union approval of its immense acquisition of Syngenta AG. The parties involved in the Hinkley Point nuclear power complex project, which involves a major Chinese role, finally signed a contract for the deal. China and Thailand struggle to settle issues pertaining to a major joint railway project. China moves to bolster its investment, trade, and other forms of cooperation with Cuba. Japanese business delegation asks China to enhance exit procedures and antitrust rules. Indonesia may impose more than USD $400 tax bill on Google. Foreign pharmaceutical companies pour big money into Indonesia in anticipation of new health care opportunities. FDI accounts for more than 30 percent of Malaysian investment in the first six months of 2016. Thailand is moving to tighten tax collection rules for foreign internet and technology firms. Vietnam moving towards eliminating various caps on foreign involvement in its banking sector. Vietnam’s planned divestiture of Vinamilk could be a very positive sign for the country’s privatization drive.

MNCs in the News-2016-03-18

Chinese Ministry of Commerce spokesman voices confidence China will remain attractive to foreign investors and promises new efforts. China’s State Power Investment Corp. buys Taralga Wind Farm project for nearly $230 million. Former Turkish energy minister expects China to bid aggressively during the bidding process for Turkey’s third nuclear power plant. China’s Three Gorges International Corp. will bid on Brazil’s Tapajos hydroelectric dam project. Japan’s Toshiba reveals that US Justice Department and US Securities and Exchange Commission are investigating the accounting practices of its US units. Political infighting in Indonesia results in postponement of major oil bloc development by Japan’s Inpex. Japanese firm partners with government controlled Indian private venture on major wind power project across seven Indian states. Bank of Tokyo-Mitsubishi UFJ will become the first Japanese lender to provide Islamic compliant financing through an overseas branch. Influx of Japanese businesses into Myanmar’s Thilawa special economic zone drives drives Myanmar’s CB Bank to open a branch there. Korea Electric Power Corporation (KEPCO) has signed a Memorandum of Understanding with Ecuador linked to its plans to build EV charging infrastructure operation systems in the country. The Korea Rural Community Corporation is expected to secure a government of Gujarat (India) contract for the construction of the Kalpasar sea wall project. Indonesia aims to bring more European investment into the country. The President of the European Association for Business and Commerce called upon the Thai government to embrace a number of changes in order to draw more investment.

MNCs in the News-2016-03-04

According to China’s Ministry of Commerce, China plans to “lower entry barriers for foreign investors.” MOFCOM representatives also indicate that “China will support foreign participation in its drive to reform state owned enterprises (SOEs).” Foreign Ambassadors present letter to China’s Ministry of Public Security to express their anxieties about China’s new counterterrorism law, draft security law, and draft law on the management of foreign non-government organizations. Qualcomm reaches settlement with U.S. Securities and Exchange Commission regarding allegations of improperly hiring the relatives of Chinese officials and giving lavish gifts. According to news reports, in contrast to its battles with the US FBI, Apple is showing great flexibility towards the Chinese government. Three members of the US Congress ask for increased scrutiny of Zoomlion’s purchase of US Terex Corp. Problems caused by increased scrutiny of Chinese outward investments led to deals with unusual termination fees and deal terms. Massive Chinese state-owned enterprise investments in Europe fuel concerns. Olympus Corp. will pay the US Justice Department a $623 million fine due to kickback payments and its giving of luxurious gifts. Korean government-business delegation journeys to Iran and concludes numerous deals. A South Korean wins Bolivian deal to build a new city in Bolivia. Indonesia plans to set up a “China Desk” to better Chinese investors. Vietnam shows substantial increases of FDI during the first two months of 2016. Vietnam needs to provide more information to solve problems of foreign investors.

MNCs in the News-2015-12-18

Inward FDI in China continues to show growth year-over-year. European Chamber of Commerce in China President questions China’s interest in attracting foreign investment. Chinese NGO files a lawsuit against VW for its emissions testing cheating fraud. At the 2nd World Internet Conference (WIC), China’s President Xi Jinping promises to protect foreign companies’ legal rights. At the WIC, the Cyberspace Administration of China announces “China will manage cyberspace according to the rule of law, while providing more room for development based on the market” while President Xi stresses cyber sovereignty and the avoidance of internet hegemony. China shifts “Ten-Year Review of the World Summit on the Information Society” in a direction more to its liking. Microsoft partners with Chinese company to create joint venture that will allow it to sell Windows 10 to government market. AstraZeneca to increase investment in China. Chinese outward FDI for the first 11 months of 2011 exceeded $104 billion. Sinopec to build a fuel station on Woody Island in the South China Sea. Australia’s Defense Department strongly criticizes anxieties about the security implications of a long-term lease of a port in northern city of Darwin to a Chinese firm. Chinese state-owned enterprises purchase significant Australian infrastructure assets. Japan provides massive concessional loan to support India’s construction of its first bullet train. French government pledges not to interfere in Nissan. Japan looks to win Singapore-Malaysia bullet train project. Korean government will create industrial complexes in China and Vietnam and business centers around the world to help Korean firms expand abroad. Changes in Korean cloud market draw substantial foreign investor interest. South Korea gives China Everbright Bank permission to set up a branch in Seoul. Indonesian think tank calls for government to move against Freeport Indonesia contract extension.

MNCs in the News-2015-11-27

Google Play app store ready to play in China. Chinese investment in the American financial sector dwarfs American investment in the Chinese financial sector. U.S.-China Joint Commission on Commerce and Trade meeting reportedly yields agreement on the protection of trade secrets and opens Chinese market further to certain types of American firms. Payoff of GlaxoSmithKline’s measures to recover from its 2014 China bribery scandal remain unclear. MOFCOM touts China’s opportunities to Japanese firms and hopes they will invest in “emerging sectors.” Premier Li Keqiang says China will invest $1 trillion overseas in the next five years. Chinese outward foreign direct investment (FDI) and contract work continues to record impressive results. Chinese firm private firm outward FDI (OFDI) shows impressive growth. Chinese OFDI in Africa, though, collapses. China promises $10 billion in infrastructure loans to Association of Southeast Asian Nation countries. Chinese train company motoring along in Malaysia. China National Corporation for Overseas Economic Cooperation fires up over Mexican energy sector investment. Chinese companies power up nuclear energy cooperation with Argentina. Japan opens its purse strings to win more infrastructure deals and counter China. Japan expresses its displeasure to Indonesia about Indonesia’s awarding of a high-speed rail contract to China. Japanese public private fund steps forward to finance Texas high-speed rail. Indonesia will act to revise its negative investment list to exclude e-commerce companies.