Shanghai to Host Formula One Championship Series Racing 2004 - 2010
After half year's hard negotiations, Shanghai International Circuit Co. Ltd has recently reached agreement with the International Automobile Federation (FIA) to host Formula One Championship series racing between 2004 and 2010. Shanghai citizens will have chance to enjoy the first F1 race in two years.
Shanghai to Host Formula One Race
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After half year's hard negotiations, Shanghai International Circuit Co. Ltd has recently reached agreement with the International Automobile Federation (FIA) to host Formula One Championship series racing between 2004 and 2010. Shanghai citizens will have chance to enjoy the first F1 race in two years.
The city's bidding received support from the State General Administration of Sports (SGAS) and Mr Bernic Ecclestone, president of
Formula One Management Ltd which manages all the commercial aspects of F1 racing.
A grand prix circuit will be constructed in the city's northwestern suburb of Anting, which covers an area of 5.3 square kilometers and could host 200,000 spectators.
The racing track runs a full length of 7 kilometers, divided into 4.5-km F1 track and hi-speed ellipse track.
Two key figures to visit Shanghai
Invited by SGAS, president of FIA Mr. Max Mosley will arrive in Shanghai to attend the opening ceremony of construction on the Asia's largest motor-racing track. While Mr. Bernic Ecclestone will also come to finalize the agreement with
Shanghai International Circuit to host the 2004-2010 F1 championships.
The city's bidding was also supported by the Hong Kong & Shanghai Banking Corporation, one of the world biggest financial institutions, who provided financial security for the bidding activity and even shipped a show car of F1 racing from London.
Shanghai International Circuit aims at building the grand prix circuit into one of the landmarks of the cosmopolitan city and bringing huge business opportunities to the city and surrounding areas through hosting the most prestigious event in world motor racing.
By PD Online Staff Li Heng
Nissan, Dongfeng Joint Venture Talks Delayed again
Joint venture talks between China's second largest vehicle manufacturer Dongfeng Automobile Co. and Japan's auto maker Nissan have been postponed yet again to give Dongfeng more time to cope with 30,000 lay-offs.
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Joint venture talks between China's second largest vehicle manufacturer Dongfeng Automobile Co. and Japan's auto maker Nissan have been postponed yet again to give Dongfeng more time to cope with 30,000 lay-offs.
The negotiations formerly set for June were postponed to the middle of July, and were later put back again. The new date has yet to be decided.
The proposed joint venture is generally expected to advantage both parties. It is an important part of Nissan's "Revival Plan," which aims to expand the company's penetration of China's huge auto market.
The joint company, hopefully to be established by the end of this year in Shiyan, Hubei Province, with Dongfeng and Nissan having equal shares, will be in production of a minibus and three passenger cars -- the Cefiro, the Sunny and the March. Production is expected to reach 150,000 units in three years.
An overburdened state-owned factory established in 1969, Dongfeng, famous for its best-selling heavy trucks and Fukang-Citroen sedans, has to undergo complete reorganization to become part of the 3 billion-yuan joint venture.
The toughest problem is to cut the jobs of 30,000 people, one-third of whom will be left to find new employment themselves.
In order to help reduce Dongfeng's social burden, the Shiyan city government has signed a 1.8-billion-yuan agreement to take over some 300 service firms employing 13,000 and affiliated to Dongfeng. As an old state-owned enterprise set up in the time of the planned economy, Dongfeng has had many social functions. Its service firms range from kindergartens and locksmiths to street cleaning.
Miao Yu, general manager of Dongfeng, told Xinhua that the company has planned to open more sales outlets and encourage the re-employment of laid-off workers in the auto sales and service sectors.
Dongfeng's production and assembly factories are mostly based in Shiyan and Xiangfan cities both landlocked in the mountainous west of central China's Hubei Province, where road infrastructure is outdated.
Nissan wants its proposed Chinese partner to have clear solutions to its problems before the final talks are held.
Zhao Bin, mayor of Shiyan, pledged that the municipal government will give strong support to improving the standard of the urban infrastructure and the environment to enhance the joint venture deal.
He said in an interview with Xinhua that a highway linking Shiyan with Wuhan, the provincial capital and the hub of transportation in central China, will be opened by the end of 2004.Road traffic conditions, housing and entertainment facilities in Shiyan will be much improved as well.
Source: Xinhua News Agency
롱 용투 중국 해외무역경제협회(FTEC) 부회장이
12월 10일 워싱턴에서 밝힌 바에 따르면, 해외 자동차 업체들에게 금융 기업 설립을 허용하는 중국의 자동차 금융 업체에 관한 법규가 내년 초 발효될 예정이라고 한다.
일부 해외 자동차 메이커들은 중국에서 자동차 금융서비스를 제공하기 위해 공식적인 승인 절차만 남아있는 상태다. 이는 현재 제조업체들에 선례가 되고 궁극적으로는 자동차 매출을 증가시키게 될 전망이다.
GM의 금융 기관인 제너럴모터스 어셉턴스(General Motors Acceptance)는 중국에서의 첫 번째 합작사 설립을 위한 면허를 중국인민은행(People's Bank of China)에 신청해 높은 상태다.
업계 소식통에 따르면, 중국 국가계획위원회(SPC)는 중국인민은행이 지난 10월 제출한 1차 제안서를 승인했다.
"1차 제안서는 아직 중국 국무회의(State Council)의 승인을 남겨놓은 상태"라고 제너럴모터스 관계자는 말했다.
중국은 작년 12월 세계무역기구(WTO) 가입하면서 해외 비은행 업체들에게 자동차 금융 시장을 개방키로 약속했었다.
GM은 상하이자동차(SAIC)와 제휴, 상하이에 자동차 금융 합작사를 설립할 준비를 마쳤다.
필립 몰타우 GM차이나 사장 겸 CEO는 당초 내년에 약 10-20%의 높은 성장세가 지속될 것이라고 전망한 바 있다. 이들의 숙원인 자동차 금융을 중앙정부에서 곧 허용할 경우, 그 성장률은 더 높아질 것으로 보인다.
한편, 폭스바겐AG는 중국에서의 자동차 금융 사업의 준비를 마쳤으며, 자체 금융 기관에서 일련의 법규와 사업 라이센스만을 기다리고 있는 상태다.
폭스바겐 파이낸셜 서비스(Volkswagen Financial Services Co)는 4년 전에 베이징 지사를 설립했다고 로버트 부첼호퍼 폭스바겐 아시아 태평양 사장은 말했다.
독일 최대 자동차 메이커인 폭스바겐은 올해 중국에서만 2001년보다 40% 증가한 50만대 판매가 전망되며, 2007년에는 그 수치가 2배가 될 전망이다.
한편, 포드모터는 자동차 금융 서비스의 가능성을 보여줄 첫 번째 해외 자동차 메이커가 될 수 있을 전망이다. 포드는 현지 시장 연구를 위해 1995년 베이징에 자동차 금융 사무실을 설립했다.
분석가들은 해외 자동차 금융 합작사들이 부진하고 혼란한 중국 자동차 금융 산업을 자극, 자동차 매출을 50%까지 증가시키게 될 것이라고 예측했다.