Xi Founderto press buys the back­case for Tjoy early brand BIT

China Daily (Canada) - - TORONTO - By By WANG ZHENG ZHUOQIONGXIN and wangzhuo­qiong@chi­nadaily.CHEN JIA com.cn By YANG ZIMAN yangx­i­man@chi­nadaily.com.cn

Ne­go­ti­a­tions on the Chi­naUnited Four State­sand a Bi­lat­er­al­half years In­vest­mentafter selling Treatyit to will French­make up beauty most of com­pa­nythe dis­cus­sion­sCoty Inc, dur­ing Zhuang Pres­i­dent Wenyang,Xi Jin­ping’sthe man forth­com­ing­who founded state Chi­ne­se­visit to skin­car­ethe US, theMin­istryand cos­metic of brand Com­merceTjoy in 1995,said has on Wed­nes­day.bought it back.

The Tjoy vis­ithad been­will speeda lo­cal up leader and up­gradein face cleans­ing­trade, eco­nom­i­cand men’s co­op­er­a­tion skin­care prod­ucts,be­tween be­fore­the fall­ing two na­tions growth and led bol­sterto its bi­lat­er­al­sale for re­la­tions,2.4 bil­lion said yuan Shen ($376 Danyang,mil­lion) the min­istryin De­cem­ber spokesman.2010 to the Paris-based“Xi’s up­com­ingCoty the state com­pa­nyvisit to the be­hindUS is glob­ala mat­ter brand­sof pri­ma­ry­in­clud­ing im­por­tanceCalvin Klein,for Sino-US Chloé re­la­tions,and David­off. and will ex­ert a pro­found in­flu­ence on the bi­lat­eral re­la­tion­ship and eco­nomic co­op­er­a­tion,” he said.

The min­istry is also look­ing for­ward to achiev­ing progress in ne­go­ti­a­tions over the BIT be­fore the visit, said Shen.

Mark Schwartz, vice-chair­man of Gold­man Sachs Group Inc, said: “The lead­ers of the world’s two largest economies in the world should fo­cus on poli­cies and ini­tia­tives big enough to re­sult in mean­ing­ful eco­nomic growth but mod­est enough to be achieved. The US-China in­vest­ment treaty is one such ini­tia­tive. Both sides have a great op­por­tu­nity to ad­vance their coun­tries’ in­ter­ests and the global econ­omy.”

But Ac­cord­ing within twoto years, Schwartz,the Chi­nese busi­ness brand’s com­mu­ni­ties rev­enue was on down ei­ther 50 sides per­centof the year-on-year,Pa­cific have prompt­ing­much to a gain ma­jor and over­haul shouldof its come mar­ket­ing to­gether and to se­nior­play a man­age­ment con­struc­tive teams.role by sup­port­ing the In ne­go­ti­a­tion­s­the third quar­terand of seiz­ing2013 it the lost BIT $253 op­por­tu­ni­tymil­lion, and for its glob­al­new owner growth. halted pro­duc­tion al­to­gether, For China, while the con­tin­u­ingBIT will prod­uct help ad­vance dis­tri­bu­tion.its eco­nomic re­form goals. Now It Zhuang,can helpChi­nathe chair­man achieve of these Siki goals Group,by in­creas­ingthe Suzhoubased the cap­i­tal cos­metic avail­able man­u­fac­turer,to pri­vate has firms re-bought (es­pe­cially the small brand and­for an medium-sized undis­closed amount, busi­nesses),and says which he of­ten plans to rely re­laun­chon in­for­malit this month lend­ing, with­said Schwartz.a range of new prod­ucts For­eign aimed cap­i­tal, mainly and at the hy­per­mar­ket man­age­ment ex­per­tis­esec­tor in­clud­ingthat so in of­ten re­tail­ers comes such with as such Wal-Mart deals, would­pro­motein­no­va­tio­nand entrepreneurship, which are crit­i­cal to any econ­omy’s longterm suc­cess, he said.

Shen said both China and the US are go­ing through in­tense ne­go­ti­a­tions over eco­nomic and trade re­sults to be achieved dur­ing Xi’s visit, which is set for Sept 22-25, and are aim­ing for a pro­duc­tive eco­nomic and trade co­op­er­a­tion.

The min­istry is also push­ing eco­nomic and trade co­op­er­a­tion be­tween Chi­nese prov­inces and US states to fur­ther strengthen eco­nomic ties while bring­ing in tan­gi­ble ben­e­fits to peo­ple of both coun­tries.

China and the US should work to­gether to seize the his­toric Stores Inc and Car­refour SA, as well as online.

Ac­cord­ing to Jason Yu, gen­eral man­ager of re­tail con­sul­tancy Kan­tar World­panel, Tjoy still has de­cent brand aware­ness though that is prob­a­bly lim­ited to con­sumers born in the 1970s and 1980s.

In a Kan­tar sur­vey of Chi­nese fam­i­lies in 2014, it was still be­ing bought by 4.4 per­cent of rel­e­vant re­spon­dents, down from 9.4 per­cent in 2012.

But Yu said to­day’s mar­ket has changed rad­i­cally in the years since it was sold. “Com­pe­ti­tion op­por­tu­nity of in the the visit skin­care to strengthen mar­ket ne­go­ti­a­tion­sis much fiercer and and co­op­er­a­tion stronger lo­cal while brands re­ducin­gare emerg­ing.” dis­par­i­ties. This is nec­es­sary for the steady and healthy de­vel­op­ment of Sino-US trade and eco­nomic re­la­tion­ship, said Shen.

The spokesman also said that one of the main rea­sons for the de­cline in US in­vest­ment in China dur­ing the first eight months of the year is the struc­tural ad­just­ment of for­eign cap­i­tal uti­liza­tion in the coun­try.

Ac­cord­ing to data re­leased by the min­istry, US in­vest­ment in China de­creased 19.6 per­cent year-on-year in the first eight months, with the drop more dras­tic in the first half of the year.

“Some ar­eas of US ser­vices in­vest­ment in China are not in ac­cor­dance with those fields thatIt will China be is “tough open­ingto re­buildto the the world, brand de­spiteto its past the glory”, rapid­said Yu, in­crease­and thein for­eign­ef­fort will in­vest­men­tre­quire somein China’s fun­da­men­talser­vices sec­tor,” repo­si­tion­ing said Shen. to cre­ate a new niche, up against “How­ever, other lo­cal based play­er­son in­for­ma­tion­such as KanS, re­leased Pe­choin, by and the South China Korean Gen­eral brands Cham­berthat are of grow­ing Com­merce in pop­u­lar­ity.- USA, most US com­pa­nies He are said still pre­vi­ously con­fi­dent­that multi­na­tional and will­ing to com­pa­nies con­tin­u­ously typ­i­cally in­vest ac­quiredin China while such re­port­in­glo­cal Chi­nese pos­i­tive brands com­pa­nyto com­ple­ment­growth.” their ex­ist­ing Ac­cord­ing prod­uct to port­fo­lios,the min­istry,and to US lever­age com­pa­nies lo­cal used dis­tri­bu­tionto wit­ness net­worksa rapid growthto en­terin in­vest­ment­lower-tier cities.in China. The big­gest ca­su­alty of Po­ten­tialthe fall in tar­gets in­vest­mentswere on­lyis theof value less-than-sat­is­fac­to­ryif they could pro­vide per­for­mance­longterm, of sus­tain­ablethese firms com­pet­i­tivethis year. ad­van­tageData re­leasedto the buyer.by the min­istry showed that im­ports and ex­ports of China’s ser­vices trade wit­nessed a higher mar­ket con­cen­tra­tion rate dur­ing the first six months. end TheUS,of last to­geth­eryear its daily with out­put Ja­pan, South­hit a record Korea 1.4 and mil­lion Aus­tralia,cu­bic were me­ters. the ma­jor ser­vices trade part­ner­sAAG startedof China pi­lot dur­ing pro­duc­tion the first half,of Mabi with in the the to­tal first vol­ume­half of of 2010, for­eign and tradein Novem­ber ac­count­ing 2013 for 52.1 re­ceived per­cent pre­lim­i­naryof the na­tional ap­proval for­eign for its trade, first said phase the of min­istry. de­vel­op­ment from the Na­tional De­vel­op­ment Con­tact the and writ­ers Re­form at Com­mis­sion,chen­jia1@chi­nadaily.com.cn with pro­duc­tion tar­get and of zhengxin@chi­nadaily.com.cn1 bil­lion cu m per year, start­ing in 2016.

China has pri­or­i­tized the de­vel­op­ment of un­con­ven­tional energy to re­duce its re­liance on coal.

The lead­ers of the world’s two largest economies should fo­cus on poli­cies and ini­tia­tives...”

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.