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(DOC) China_1

By Tom Hawkins,2014-07-22 02:50
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China_1

    China

;竺一……

    ;CanadianoilandgasexplorerDaylightEnergy ;LtdsaidonOct9ithasagreedtobeacquiredby ;China’sSinopecInternationalPetroleumExploration

    ;andProductionCorpfSIPEPC)foraboutC$2.2bil

    ;lion(US$2.1billion),accordingtoChinaDailyon ;October10.

    ;ThedealforCalgary.AlbertabasedDaylightis

    ;forC$10.08pershare.Thatismorethandoublethe ;closingpriceofDaylight’sclosingpriceofC$4.59on

    ;oct7.butthecompanynoteditisonlya43.6percent ;premiumoverthe60dayweightedaveragetrading ;price?

    ;SIPEPCisasubsidiaryofChinaPetrochemical ;Corpandundertakesoverseasinvestmentsandopera

    ;tionsintheupstreamoilandgassector,Daylightsaid ;initsreleaseannouncingthedea1.

    ;Thepurchase”recognizesthehighlyattractive

;assetportfolioandexceptiona1teamthatwehaveas

    ;sembledatDaylight.’’DaylightChiefExecutiveOfficer

    ;AnthonyLambertsaidinastatement.

    ;Acombinationoffa11inoilpricesanddebt ;levelshashitCanadianoilandgassharesinrecent ;monthsasinvestorsfretthatgrowthprospectsare ;shriveling.

    ;Thetransactionwouldmarkthelatestenergysec

    ;tordealbetweenChinaandCanada.Inluly’China’s

    ;topoffshoreoi1producer,CNOOCLtdagreedtobuy ;strugglingOptiCanadaIncforUS$34millionand ;US$2billionindebt.

    ;Butthisdealcouldbelargeenoughtofacereview ;undertheInvestmentCanadaAct,whichmustdeter

    ;mineifforeignpurchasesofdomesticfirmsareofnet ;benefittoCanada.

    ;:!!

    ;ChinahopestoincreaseinvestmentsintheUnited ;States,whichwillboostthecountry’seconomyand

    ;create{obs,saidChina’stopdiplomattotheUSonOc—

    ;tober25,accordingtoChinaDaily.

    ;SpeakingatthefifthChina..USRelationsConfer..

    ;ence,ZhangYesui,theChineseambassadortotheUS, ;saidthatpotentia1sectorsforinvestmentincludeclean ;energy,environmentalprotectionandinfrastructure. ;Thebiannualconferenceaimstopromote.

    ;strengthenandexpandacademicandbusinesscollabo

    ;rationsbetweenthetwocountries.

    ;Zhangreiteratedinhisopeningremarksthatpo

    ;liticizingtheChina--UStradeimbalancethroughlegis-- ;lationwillonlyleadtoa”tradewar”.

    ;Hecalledforafriendlierinvestmentenvironment ;intheUSforChineseinvestors.C:hineseinvestmentin ;theUScurrentlyaccountsforonlyasmallportionin ;China’soverallforeigndirectinvestments.

    ;NikebrandPresidentCharlieDensonsaidonOc

    ;tober6thatthecompanywillcontinuetoinvestheav

    ;ilyintheworld’smostpopulouscountry,astheworld’s

    ;topsportswearmakerplanstodoublesalesinChinaby ;2015,accordingtoXinhuareport.

    ;Althoughtheworldeconomynotablyinthe

    ;UnitedStatesandEurope——risksadouble--dipreces-

    ;sion,Nikedoesn’tworryaboutitsbusinessexpansion,

    ;whichwillfoCUSmoreonemergingmarketssuchas

    ;China,Densonsaidinanexclusiveinterviewwith ;Xinhua.

    ;“WecertainlywillcontinuetoinvestinChina, ;andveryaggressively.Weareveryexcitedaboutthe ;growthopportunitieshere,”hesaid.

    ;Thisyearmarksthe30thanniversaryofNike’s

    ;operationinChina.IttookthePortlandbasedcompa

    ;nv26yearstomakeUS$1billionofrevenueinChina, ;butonlyfouryearstodoubleitattheendofthelast ;fiscalyearinMay.ChinahasbecomeNike’sbiggest

    ;marketoutsidetheUnitedStates.

    ;Withmorethan7,000retailstoresinChina,Nike ;nowplanstoexpanddistributiontosecondandthird

    ;tiercities,asDensonputit,”Vwillmovewest.”

    ;Inits1atestfisca1quarterendedAug.31.Nike ;postedaprofitofUS$645million,up15percentyear

    ;onyear.Revenueincreased18percentfromayearago ;toUS$6.08billion.

    ;Duringthemostrecentfiscalyear,theUnited ;StatesgeneratedrevenueofUS$7.58billionasthelarg

    ;estmarketbycountry.ItisfollowedbyChinawith ;US$2.06billioninrevenue.

;Despitetheincreaseinsales,Nikealsocomesun

    ;derpressurefromrisinglaborandmaterialcosts. ;“Certainlythespiralcottonpricesaffectevery

    ;area,andthatwasaseasonalsituation,Ithinkitwill ;easeovertime,”Densonsaid.

    ;DespiteChina’srising1aborcosts,whichcould

    ;hurtthecompany’smanufacturingmargin,Denson

    ;saidChinastillrepresentsaverybigpartofitsmanu

    ;facturingstrategy.

    ;“Ithinkwhenyoulookattheoveralltradeandla—

    ;bormarketsaroundtheworld,Chinacontinuestobea ;veryviableresource,andwecontinuetomanufacturea ;lotofourproductsinChina,”hesaid.

    ;Tomaintainthecompany’sflexibilityofdealing

    ;withthechangingeconomicandtradeenvironment, ;Nikehascontinuously1ookedforadiverseportfolioof ;manufacturingcountries,headded.

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