Chinese Business Forum promotes Minnesota-China economic development

By Greg Hugh - 

 

On Nov. 1, the Chinese American Business Association of Minnesota (CABAM) along with the U.S.-China Business Connections (UCBC) and sponsored by the China Center at the University of Minnesota and the Minnesota Trade Office kicked off the Chinese Business Forum, with a busy networking Session.  It took place at the University of Minnesota Carlson School of Business, where the University’s China 100 story was also on display in the atrium. The networking session ended as the gathering was ushered into the auditorium when the forum began.

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What’s in a (the Tesla) name?

By Elaine Dunn

Luxury electric car manufacturer Tesla Motors’ entry into China has not been exactly smooth.  And it is not for lack of orders.  In fact, quite the contrary!  

April deliveries were delayed, sparking protests and much negative online chatter.  As part of the protest, a disgruntled new owner took delivery of his April-promised car on June 27 and smashed its front windshield within minutes to show his anger and displeasure at Tesla!  

The reason for the delivery delay to areas outside of Beijing and Shanghai, as presented by Veronica Wu, general manager of Tesla China, was, “the lack of after-sales service centers and charging stations. Tesla needs to ensure that every single customer has a charging station within reach to deliver the perfect driving experience.”

Tesla had strong orders, but inadequate infrastructure.  Build-out of charging stations was slow and the need to have a charging outlet at the non Beijing-Shanghai car owner’s  residence is problematic.  Apparently, the new GM, Wu, had not thought through her 4P’s of marketing (price, product, promotion and place)!So what’s feeding the current online chatter?  The URL for Tesla’s Chinese website – tuosule.cn.  

Tesla does not have an official Chinese name either for its brand or for the site, i.e., it does not have equivalent Chinese characters for it, so Web users have been having a field day giving it one!  

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Second quarter exports reach record US$5.4 billion

Minnesota exports of agricultural, mining and manufactured products grew 1.2 percent (up US$64 million) between the second quarters of 2011 and 2012 to US$5.4 billion. That broke the previous quarterly record of US$5.3 billion, set in the second quarter last year. U.S. export growth was 5.6 percent during the quarter.

Among all states, Minnesota ranked 20th in exports. Among the 20 largest exporting states, only Massachusetts experienced decreased exports during the period (down 18 percent).

Minnesota manufactured exports were up 3.4 percent to US$4.9 billion in the quarter, while U.S. manufactured exports increased 7.5 percent.

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China shaking off stereotype perception of poor quality

China shaking off stereotype perception of poor quality


ASIA PACIFIC, March 6, 2014 – China ranks #9 overall in research conducted by FutureBrand, Interpublic Group’s global brand consultancy, into the reputation of countries of origin with consumers worldwide. In this inaugural 2014 “Made In” report, three Asian countries

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Money talks and London listens to the yuan

Currency is fast becoming a key topic of conversation for bankers, reports Diao Ying in London.

The fashionable youths in hot pants flocking to high-end department stores in London and bankers in dark suits walking in and out of skyscrapers in the financial district have one thing in common, a growing interest in the Chinese currency.

During the recent holiday to celebrate the Diamond Jubilee of Queen Elizabeth II, Harrods, a department store known for its ties with the British royal family, launched its own Sina Weibo, a popular Chinese social media platform, to attract more Chinese customers. Shoppers can find "the very latest, limited edition and exclusive products", with Hermes, Chanel and Louis Vuitton among the most popular brands, according to the store's spokesman.

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