Word: guangdong
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Lenovo is one of a small but growing number of Chinese firms that are trying to ease profit pressure at home through global acquisitions. Guangdong-based TCL last year bought the television arm (including the RCA brand) of French electronics giant Thomson. Shanghai Automotive Industry Corp. is in talks to acquire the very English MG Rover and has already bought Korean SUV maker Ssangyong. A consortium of Chinese companies bid on the Canadian mining firm Noranda. Says Arthur Kroeber, managing editor of the China Economic Quarterly, of the dealmaking: "It's not a silly gamble, but it is high risk...
...Those employees aren't alone in worrying about China's new overseas business adventures. A small but growing number of firms are trying to claw their way into world markets by buying foreign companies. Last year, Guangdong-based TCL bought the television arm of French electronics behemoth Thomson, which gave it the RCA brand. Shanghai Automotive Industry Corp. is in talks to acquire the very English MG Rover, and has already bought Korean SUV maker Ssangyong. A consortium of Chinese companies bid on the Canadian mining firm Noranda. According to a recent study by Bain & Co., China's foreign investments...
...they trawl southern China's gritty manufacturing towns, weary apparel buyers from companies like Polo Ralph Lauren and Liz Claiborne find an unexpected oasis at Building No. 15 of the Luen Thai clothing-manufacturing compound in Dongguan, Guangdong province. There, the visitors are greeted by a neatly uniformed, smiling receptionist who directs them to any of 337 guest rooms?or they can stop by the library, fitness center, Internet caf?, restaurant, cinema or one of the four zebra-skin-motif karaoke rooms. Belying its unimaginative name, Building No. 15 is actually a private, full-service hotel, opened last April...
Nike is determined not to repeat the mistake. It has already signed China's next NBA prospect, the 7-ft. Yi Jianlian, 18, who plays for the Guangdong Tigers. And the company has resolved problems that dogged it a few years ago. Nike has cleaned up its shop floors. It cut its footwear suppliers in China from 40 to 16, and 15 of those sell only to Nike, allowing the company to monitor conditions more easily. At Shoetown in the southern city of Guangzhou, 10,000 mostly female laborers work legal hours stitching shoes for $95 a month--more than...
...example, Shanghai and other Asian cities are now competitors with Hong Kong for investment and talent. And Hong Kong has yet to find a way of working with the authorities in Guangdong province, which belches eye-stinging pollution that, on a bad summer day, can choke the city...