Daily News-20190709

 |  Xinhua/ China Daily

Today's point:

1.Macro:

China's trademark registration surges 67.8% in H1

2.Industries:

Shandong takes biggest bite of China's 2018 catering market

3.Trade:

China-Africa trade increases in Jan-May

4.Companies:

WeWork teams up with Alibaba Cloud to further nation's opening-up

 

 

Quick view

1.China's trademark registration surges 67.8% in H1

China completed 3.52 million trademark registration reviews in the first half of this year, up 67.8 percent year-on-year, according to the 11th China Trademark Festival.

So far, the country's valid trademarks have exceeded 22.74 million, ranking top in the world with every 5.2 market entities owning one on average.

China has been ramping up efforts to facilitate the reform on streamlining the approval process of trademark applications and improve the quality and efficiency of intellectual property review procedures.

Review cycle of trademark registration was shortened to less than five and a half months.

Meanwhile, registration fees for trademark renewals decreased 50 percent to 500 yuan and the fees for changing trademarks fell from 250 yuan to 150 yuan from July 1, according to the National Development and Reform Commission.

(source: Xinhua)

 

2.Shandong takes biggest bite of China's 2018 catering market

China's catering market saw continued growth in 2018, with east China's Shandong Province ranking first among 31 provincial regions in China, an industrial report showed.

The income of China's catering industry increased to over 4.27 trillion yuan (about 621.67 billion U.S. dollars) in 2018, up 9.5 percent year on year, according to a report by the China Hotel Association.

Shandong's catering income reached 399.5 billion yuan last year, up 10.9 percent year on year and the biggest catering provincial market across the country.

The province was followed by Guangdong, Jiangsu and Hebei, whose catering revenue all topped 300 billion yuan.

West China's Sichuan Province, known for its hot pots, ranked sixth by raking in 280.74 billion yuan.

The total income of the top 10 accounted for 66 percent of China's catering industry, cementing their roles as key drivers for China's catering market.

(source: Xinhua)

 

3.China-Africa trade increases in Jan-May

China's trade with Africa saw a mild increase in the first five months this year, official data showed.

China-Africa trade volume stood at 84.76 billion U.S. dollars during the period, up 3 percent year on year, as compared with a drop of 1.6 percent in China's overall foreign trade in U.S. dollar terms during the period, according to the General Administration of Customs (GAC).

In breakdown, China's exports rose 6.3 percent year on year to hit 43.57 billion U.S. dollars from January to May, while imports from Africa declined 0.3 percent to 41.19 billion U.S. dollars, leading to a surplus of 2.38 billion U.S. dollars.

In May, China-Africa trade expanded 1.7 percent to 18.67 billion U.S. dollars, with China seeing a surplus of 1.89 billion U.S. dollars, said the GAC.

China's exports in the month stood at 10.28 billion U.S. dollars, up 8.7 percent year on year while the imports totaled 8.39 billion U.S. dollars, down 6 percent than a year earlier.

In 2018, China-Africa trade reached 204.2 billion U.S. dollars, up 20 percent year on year, and China has been Africa's largest trading partner for 10 straight years.

(source: Xinhua)

 

4.WeWork teams up with Alibaba Cloud to further nation's opening-up

A man enter the doors of the "WeWork" co-operative co-working space in Washington, DC. [Photo/VCG]

China's resolve to further open up has been reflected by the global coworking and community service provider WeWork's latest partnership in the country.

In late June, WeWork announced it would team up with Alibaba Cloud - the intelligence backbone of e-commerce juggernaut Alibaba - to roll out a program targeting international companies "looking to enter and succeed in China".

China Gateway, as the program is called, will offer cloud services, flexible work spaces and access to the local community and business ecosystem for international firms, the two companies said.

Softbank Telecom China has also joined the program as a strategic partner to provide consulting services to those companies.

"The Chinese market is so huge and important that a company is not qualified to label itself as an 'international' one if it has not done well in the Chinese market," said Alan Ai, general manager of WeWork China.

"Over time, we have seen some multinational companies confronting setbacks in China since the market here is so different. Therefore, one of the purposes of China Gateway is to help multinational companies avoid detours or mistakes in the country," he added.

When WeWork first stepped into the Chinese market three years ago, most of its overseas clients in the country then were specialized in consulting, retailing and the automobile sector.

But it has witnessed a growing number of technology and financial companies showing their willingness to come to China. Companies from North America, Europe, and Asia are the most interested in exploring the Chinese market, said Ai.

So far, WeWork has opened more than 70 working spaces in eight cities across China since its entry in 2016. Its latest space was opened in Xi'an, capital of Shaanxi province, and began operations at the beginning of this month.

(source: China Daily)

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