CII Communique November 2012

eportAsiaChinaDelegation from PunjabZhang Limin, Director, Shanghai SME Coordination Office, withVikas Pratap, Secretary, Industries & Commerce, Punjab, in ShanghaiCII organized a luncheon interaction for a visitingdelegation from Punjab led by Mr Vikas Pratap,Secretary, Industries and Commerce, Punjab, with MrZhang Limin, Director, Shanghai SME CoordinationOffice, in Shanghai on 20 October. Mr Pratap describedthe economy and industry of Punjab and the newinvestment opportunities it offers to Chinese companiesespecially in infrastructure development, manufacturing,textiles, high tech etc.Mr Zhang recalled his firsthand feel of the developmenttaking place in India during his visit there last year.Noting that many Chinese companies are still not awareof the opportunities in India, he said such visits fromdifferent states of India will help bridge the informationgap between the two countries. Mr Sanjeev Bawa,Executive Director, Punjab Small Industries & ExportCorporation Ltd and Mr Zhou Lei, Vice President,Shanghai Kaikai Group, along with representativesof Punjab hand tool manufacturers, attended themeeting.Chery - JLR JVA proposed $1.89 billion automobile Joint Venture (JV)between China's Chery Auto and Jaguar Land Rover(JLR) has been approved by the National Developmentand Reform Commission of China. The JV's new plantin Changshu near Shanghai, scheduled to go intooperation in 2014, will be able to produce 130,000units a year, mostly Land Rover and Jaguar vehicles,but also JV brands. Sales of JLR cars reached 53,000units in China in the first nine months of the year, up80% from a year earlier.Yuan UpChina's yuan advanced to its highest value against theUS dollar in nearly 19 years on 29 October, to 6.2371 perUS dollar, pushed up by quantitative easing worldwideand optimistic signs for China's economy.FDI in ChinaChina exceeded the United States to become the world'slargest recipient of FDI in the first six months of 2012.During this period, China attracted $59.1 billion in FDIwhile the US attracted $57.4 billion.Chinese Investment in USAChina's direct investment in the United States reacheda record high of $6.3 billion in the first nine monthsof 2012, according to a report released by the NewYork-based Rhodium Group, which tracks Chineseinvestments.White Paper on Energy PolicyA White Paper, titled ‘China's Energy Policy 2012,’elaborates on the policies on energy development,conservation and the promotion of renewable powersources.White Paper on Judicial ReformThe Chinese Government has issued a White Paperon the reform of the country's judicial system. Judicialreform, an important part of China's political systemreform, is a long and arduous task. The White Papervows continuous efforts to establish a "just, effectiveand authoritative socialist judicial system with Chinesecharacteristics."Lenovo leads PC MarketChina's personal computer manufacturer Lenovo GroupLtd overtook the US-based Hewlett-Packard Corp in thethird quarter to become the largest seller of personalcomputers in the world measured by shipments,according to the IT research company, Gartner Inc.Lenovo made 15.7% of all PC shipments in Q3, whileHP made 15.5%.US Ruling on Solar Cells CondemnedChina’s Ministry of Commerce has voiced strongdissatisfaction with the United States' affirmativefinal determinations of Chinese crystalline siliconphotovoltaic cells, saying the decision "signalsprotectionism" and "hinders the development of newenergy." The comments came after the US CommerceCommuniqué November 2012 | 61