Posts Tagged ‘financial crisis’
European Electronics Firm Trimming China Operations
January 20th, 2009
European electronics manufacturing services firm Elcoteq SE has decided to launch an intense global restructuring plan that will see one of its China facilities close.
What’s In A Name For China’s Kingsoft Corporation?
January 19th, 2009
Chinese software provider Kingsoft has confirmed that the company is seeking to change its name.
Electrolux China’s President Steps Down
January 14th, 2009
The world’s leading home appliances maker Electrolux has announced that its president for the China area Li Yan has departed from her position, replaced by Electrolux’s president for Asia Pacific Gunilla Nordstrom, who holds a concurrent post.
Huawei Sales Up 46% In 2008
January 9th, 2009
Chinese telecommunications equipment maker Huawei Technologies increased its sales by 46% year-on-year to USD23.3 billion in 2008.
Financial Crisis Hits China’s Lenovo As Company Cuts Worldwide Staff
January 8th, 2009
The global financial crisis has hit Chinese PC maker Lenovo (LNVGY) as it today announced cutting approximately 11% of its total global workforce, and the company expects to report a loss for the fiscal quarter that ended December 31, 2008.
China’s E-commerce Scale Increased 20% In 2008
January 7th, 2009
The market research company IDC has published a white paper about China’s e-commerce industry, and it states the trade volume of China’s e-commerce increased by about 20% in the year 2008, forming a big contrast with the macroeconomic downturn.
Taobao.com Invest CNY1.36 Billion To Build Taobao City In Hangzhou
January 6th, 2009
Chinese online auction website Taobao.com has started construction of its new headquarters, Taobao City in the Yuhang district of Hangzhou, and the project will cost about CNY1.36 billion. Taobao City is planned as the new office building of Taobao.com, which is a subsidiary of Chinese e-commerce company Alibaba. The construction of the Taobao City will [...]
Suning Suspends Equity Incentive Plan
December 31st, 2008
Chinese electronics retailer Suning has published a notice that the company will suspend its equity incentive plan made in July 2008.
Hon Hai To Cut Costs With Employee Relocation In China
December 30th, 2008
To broaden sources of income and reduce expenditure, Taiwan-based technology manufacturing group Hon Hai Precision Industry Company is planning to implement large-scale employee relocations to third-tier Chinese mainland cities that can offer preferential tax policies in addition to reducing its operating budget for 2009 by 20%.
