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Commercial Union denied Carrefour and other foreign investors to exit China
Release date:2012-10-11

The Beijing News (Reporter PLANT RESOURCES AND ENVIRONMENT. AND SOCIETY) has frequently exit the Chinese market with foreign news mass media, even the outgoing foreign giants Carrefour, Tesco will withdraw from the Chinese market. In this regard, the Chamber of Commerce in China, said yesterday that the above report is seriously inaccurate.

To foreign media reports intended to imply that the deterioration of the environment in China

Since late August, "Carrefour will be the acquisition of" succession seen in the media rumors, the rumors of the intended acquisition of the protagonist of the international retail giant Wal-Mart, and local enterprises, China Resources, COFCO. Despite Carrefour's global president denied, yet to dispel market speculation.

Commercial Union, said the current debt crisis continue to simmer, the pressure of the domestic economic downturn. Part of the foreign media to spread the investment in foreign companies to exit the Chinese market is not real news, and intended to say to the deterioration of China's investment environment.

According to the Ministry of Commerce announced the first seven months of this year, the country's newly established foreign-invested enterprises a year-on-year decrease of 12.3%, the actual use of foreign investment fell 3.6%, which is the first negative growth in the past five years, except 2009 outside.

Due to rising labor costs, some foreign-funded enterprises have been transferred to areas of cheaper labor. In July of this year, Adidas decided to close its mainland China only one affiliated factory. Nike has been closed only a footwear production plant in China.

However, another foreign giant Unilever has announced to build a global production base in China. Unilever CEO Polman said Unilever can not give up the market.

Carrefour said the rumors affect normal operations

Yesterday, the China Chamber of Commerce official said Carrefour China, vice president, corporate affairs director Dai Wei came to visit, and the expression "Carrefour will adhere to the long-term development in the Chinese market," the firm determination.

Chinese Chamber of Commerce, citing the words of Dai Wei, business and investment development is still affected despite Carrefour clarification, but the above message.

It is reported that on August 30, the the Carrefour Group Chairman and CEO, Mr. George La Duosa financial report for the first half of 2012 conference held in Paris on emphasized the importance of the Chinese market in the development strategy of the entire group, on the Carrefour wish to sell its China operations rumors rumor.

■ Observe

Why is Carrefour?

In the industry view, the the Carrefour acquisition, as well as to withdraw from the Chinese market is not real news Wind biography, on the one hand, because Carrefour itself "Lookers", on the other hand, is also due to the Carrefour in the global market in recent years has been continuous to give up several regional markets business.

Since 2006, Carrefour has to exit the market in South Korea, Russia and Japan. In June this year, Carrefour announced its withdrawal from the Greek market, shortly before its announced that it will close all stores in Singapore.

It is understood that, in the first half of this year, Carrefour in Asia operating income decreased 4%, one of the reasons is dragged down by the wages of employees in China soared. Carrefour in China has also been a storm continued for serious tension from zero price tag events to 3.15 CCTV exposure exists "problem products", according to third-party the authoritative investigation agency data show that, Carrefour has lost the Chinese market retailers boss the status of the market share of Wal-Mart, Gao Xin retail, RT-Mart, as well as local retail enterprises have been gradually eroded. (PLANT RESOURCES AND ENVIRONMENT. AND SOCIETY)

■ Related

FDI in China continued to fall

Reasons since the end of last year by the international economic slowdown, the enterprise "reflux" of Europe and the United States as well as weak domestic demand, rising costs affect China's actual use of foreign investment (FDI) continued to drop year on year. In November last year to April this year, China's FDI six consecutive months of negative growth; achieve a positive growth of 0.05%, 6-July and fell again in May. There are fears that China is now showing signs of "capital flight".

In this regard, the Ministry of Commerce spokesman Shen Danyang said, according to the Ministry of Commerce to monitor, so far found no large-scale withdrawal of the establishment of foreign-invested enterprises in China. He also said that the comprehensive advantages to attract foreign investment in China With China's rapid economic development and the advantages of being turned to stimulating domestic demand, attracting foreign investment from the traditional cost advantage to the comprehensive advantages will exist for a long time.


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