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The China MonitorAugust 2009can provide added benefits when pursuing a career in the corporate world. Even alimited exposure to Chinese culture, the ability to work, study and developfriendships with other students are valuable skills in today's marketplace and canbenefit their international network base. Every year over 200,000 internationalstudents from every continent come to China, while living and studying in China hasput many students in contact with unique cultures that are vastly different from SouthAfrica’s rainbow nation.“China's position as a growingeconomic force makes thedecision to study businessand economics in China asmart one.”China's position as a growing economic force makes the decision to study businessand economics in China a smart one. Considering that 80% of new Africangovernment infrastructure projects were awarded to Chinese companies over thepast number of years, it goes without say that Africa could benefit from Africanseducated in China. There will be an increased demand for Mandarin language skillsand experience in China in the future providing a serious advantage to jobseekersgraduating in China.Ms Tebogo Lefifi is theCCS ChinaRepresentative based inBeijing. She is currentlystudying at UIBE(University ofInternational Businessand Economics). She isa recent recipient of aChinese Exim Bankscholarship for furtherstudies in BusinessMandarin and ChineseBusiness Studies.© Centre for Chinese Studies, University of Stellenbosch; All Rights Reserved10
The China MonitorAugust 2009Business BriefsThe Business Briefs section summarises key events regarding China’s economy during the month of AugustChina starts building first 10-GW mega wind farmChinastartedconstruction of thecountry's first 10-gigawatt wind powerbase in Jiuquan ofnorthwest Gansuprovince as BeijingPhoto: Tehran Timesseeks more clean powerto fuel its fast economicgrowth. The world's second-largest energy user hassaid it would bring its total wind power capacity to 100GW by 2020 from the current 12 GW, part of a broadenergy target to generate 3% of total electricity fromnon-hydro renewable energy.Chinese to launch first ever green lawsuit againstgovernment 'Breakthrough' hailed as Chinesejudge says residents may prosecute governmentover pollution claimsChina should see its first lawsuit by an environmentalgroup against authorities within weeks, state mediareported. A member of the All-China EnvironmentalFederation - which is backed by the centralgovernment - said a judge in Guizhou province hadaccepted its claim on behalf of residents who complainthey have suffered from pollution.Bank of China to buy into railway company for US$1.5 billion Bank of China may invest almost US$ 1.5billion to buy a minority stake in a railway companythat is building a high-speed rail link between Beijingand Shanghai, state media reported. The Chinesegovernment is considering floating key assets of itsthree major railway operators to help bankroll amassive expansion of its railway system. China plansto spend an estimated US$ 502.4 billion on railwayconstruction, expansion and upgrades over the nextthreeyears.China’s Yanzhouin talks to buyAustralian coalminer FelixResources forUS$ 2.9 billionChina’s YanzhouPhoto: BloombergCoal Mining is intalks to buyAustralian coal miner Felix Resources Ltd. in a cashtakeover bid worth about US$ 2.9 billion. The Chineseminer is offering slightly less than the US$ 17 pershare previously mentioned in media reports, said aperson close to the deal. China, which relies on coalfor about60% of its power and is the world’s biggest coalconsumer, has been buying coal and other resourcesfrom overseas to meet growing demand. But there hasbeen some opposition in Australia to China’s bids forthe country’s mineral resources.China ASEAN to have full free-trade area by 2010China-ASEAN Free Trade Area would be completelyoperative in 2010 as scheduled, according to sourcesfrom the Fourth Pan Beibu Gulf Economic CooperationForum held recently in Nanning city. As a new subregioncooperation scheme under the framework ofChina-ASEAN, Pan-Beibu Gulf economic cooperationis expected to attract increasing global attention.China-ASEAN bilateral trade reached US$231.12billion in 2008, up 13.9% despite an impact from theongoing global financial crisis. China and the ASEANbecame each other’s fourth largest trade partners.China urged to cutCO2 with CCStechnologyThe huge costsrequired to capturecarbon dioxide (CO2)Photo: freefoto.comemitted by China'svast coal-fired powersector is a price worth paying to cut greenhouse gasesto reasonable levels, US Energy Secretary Steven Chusaid. Carbon Capture and Storage (CCS) technologyis seen by many as the only way forward in a countrystill heavily dependent on burning coal to meet itsenergy needs. But scientists say it will actually requiremore energy consumption, not less.China Construction Bank to buy AIG Unit in FirstPurchase Since 2006 China Construction Bank Corp.,the world’s third-largest lender by market value,agreed to buy a unit of American International GroupInc. for US$ 70 million in cash, marking its firstoverseas acquisition in three years. ChinaConstruction Bank will buy 100% of AIG Finance(Hong Kong) Ltd.China to unveil plan for "new energy" by year-endCoal-dependent China will unveil a plan to foster thedevelopment of "new energy" sources, including wind,solar and nuclear, by the end of this year. China haslong been seeking to diversify away from coal, whichcurrently provides over 70% of its power. Boosting therole of other hydrocarbons such as gas and oil meansincreasing imports, which causes energy securityworries in Beijing.© Centre for Chinese Studies, University of Stellenbosch; All Rights Reserved11
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