[News,Briefs] Fake News

　　 Foreign advertising companies liven up the whole advertising market in Shanghai
　　In spite of their 3‰ proportion in the total number of advertising enterprises, foreign advertising companies play an active role in livening up the whole advertising market in Shanghai and even in China.
　　Such a statement came from the white paper Situation of the Advertising Market in Shanghai 2011 issued by the Shanghai Municipal Bureau of Industry and Commerce on May 7.
　　As the center of advertising business of China, Shanghai accommodates 20% of the advertising agencies in China and the market size takes 14% of the national industry. Among the 58,560 advertising agencies in Shanghai, there are only 211 foreign-funded companies, as the industrial and commercial department in Shanghai confirmed.
　　“Though their number is small, they really made great contributions to the advertising business in Shanghai and the whole China,” the white paper said. These foreign advertising firms’ operating revenue and profits are equal to their domestic counterparts in spite of the great disparity between their quantities.
　　The data from the white book shows that the average revenue of each foreign-funded advertising company in Shanghai is 350 million yuan, 13.8 times as much as the average level of their Chinese counterparts. The average profit of these foreign companies amounts to 20.86 million yuan, 8.8 times as much as the Chinese companies.
　　In the employee structure, foreign advertising companies have a smaller number of managers while more of the positions are provided for marketers and designers. The white paper contributes this to the difference between foreign and domestic advertising companies’ management patterns.
　　It is worthwhile to mention that cosmetics companies prefer foreign advertising companies very much. “Most cosmetics companies throw their adver- tising business to foreign companies.”
　　The white paper announced that foreign advertising companies were not only the main force of the advertising market in Shanghai in operating revenue. They also bring advanced advertising concepts and technologies which can fully instigate the competition in the market. In that situation domestic companies have more opportunities to learn and grow.
　　 Multinationals’ bribery cases are most likely to happen in China and Russia
　　The non-government organization Transparency International published the 2011 Bribe Index, which showed that multinationals were more likely to offer bribes in developing countries.
　　The bribe index tracks the tendency of offering bribes of companies in main economies in 2011. This index ranked the 28 main economies based on the possibility of the occurrence of bribery cases. These countries host 80% of the flow of commodities, services and investment of the world.
　　This bribe index shows whether a country is innocent or has the will to allow the presence of bribery. Among all the listed countries, the Netherlands and Switzerland are considered to be the last place for bribery cases to happen while Russia and China are most likely to see multinationals’ bribery cases occur within their boundaries.
　　The survey also revealed that all commercial departments are likely to be associated with bribery but the most common victims are public project contracting and construction.
　　
　　The possibility for enterprises from a specific country to get involved in overseas bribery is closely related with this country’s viewpoint about the commercial credit.
　　Mutual bribe among enterprises of different industries is as common as the bribery between government officials and enterprises.
　　
　　 Foreign non-financial companies likely to issue bonds in stock exchanges
　　Several market analysts confirmed on April 9 that the China Securities Regulatory Commission is uniting with relevant government departments and the Shanghai Stock Exchanges to restart the study of foreign institutions’ issuing RMB bonds. The market analysts further pointed out that foreign nonfinancial institutions were allowed to is- sue bonds in China’s stock exchanges to raise funds, which was the first time in China.
　　In 2005, the People’s Bank of China, the Ministry of Finance, the National Development and Reform Commission and the China Securities Regulatory Commission published The Temporary Methods for the International De- velopment Institutions to Issue RMB Bonds, allowing qualified international development institutions to issue RMB bonds in China. In that year, the central bank allowed Asian Development Bank and International Financial Corporation affiliated with the World Bank to issue bonds in China respectively valuing 1.13 billion and 1 billion yuan. This was the first time that foreign institutions issued bonds in China’s bond market. The bonds that were allowed for the first time were called “Panda Bonds”.
　　Market analysts said in 2005 that the “Panda Bonds” were opened toforeign financial institutions and now the non-financial institutions were going to be allowed in this field. Xu Chumin from Changjiang Securities said that presently they did not know the detailed schedule of the China Securities Regula- tory Commission. He stressed that “the cost of handling credit risk is too high if the foreign companies go bankrupt.
　　 Earnest & Young: China has the biggest attraction for “foreign investment”
　　The world-known accountancy firm Earnest & Young published the latest “barometer for capital confidence” in Hong Kong on May 8, which revealed that mainland China is still the most attractive region for investors. It is followed by India, the United States, Brazil and Indonesia.
　　Earnest & Young interviewed 1,500 senior managers from 57 countries from February to March.
　　According to the research, Chinese domestic enterprises attach more importance to the optimization of their capital structure. 70% of the respondents expressed the will of lowering capital liabilities. 44% of the respondents will give priority to optimizing the corporate capital structure, including releasing cashes, improving operation capital, optimizing taxation structure and integrating acquired business.
　　The “barometer for capital confidence” shows that 69% of the interviewed Chinese enterprises are confident in the ongoing improvement of global economy. The index is more optimistic than 6 months ago. The survey revealed that 42% of Chinese respondents would stage mergers and acquisitions in the next 12 months. This proportion is higher than the 22% figure among global interviewees. The senior executives of domestic enterprises prefer to use the remaining cash as the capital for mergers and acquisitions compared with international companies’ senior executives.
　　 Fixed assets investment growth in Guangdong hit the historical low in ten years
　　From January to April, the industry and consumption of Guangdong had a stable growth while investment and exports went through slowed growth rate. The growth rate in fixed assets investment hit the historical low from 2002.
　　In the first four months of 2012, the investment into fixed assets of Guangdong amounted to 411.265 billion yuan, up 9.9% year on year. It is the first time the growth rate is lower than 10% from 2002. The investment growth varied dramatically to regions. For example, the investment in Maoming increased by 84.6% thanks to its petrochemical and water projects, which was the highest in the whole province. Zhuhai witnessed a 42.4% growth while Guangzhou had a negative increase in fixed assets.
　　Meanwhile, another noteworthy thing is that the investment into the property development amounted to 127.615 billion yuan in Guangdong from January to April, up 15.1% year on year. The growth rate is 8.8 percent lower than the first quarter or 24.9 percent lower than the data in January and February.

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