Posts Tagged ‘china’

Google Vs China – The Battle Is On

Posted by Amita Kalra on March 25th, 2010

In a business plan that continues to become more complicated by the minute, Google’s Chinese blunder is one that consistently continues to backfire. As Chinese partners close doors on the internet giant it is apparent that censorship in the Chinese domain is one that Google will not be able to avoid.

On Thursday, a public-relations director for Sina Corp., a popular Chinese Internet portal that carries a Google search bar, said it is considering finding a new search partner. This came just a day after Tianya.cn, which runs a leading online forum, said it plans to discontinue cooperation with Google on some projects. On Wednesday, TOM Group Ltd., a media company controlled by Hong Kong tycoon Li Ka-Shing, said it had removed Google’s search bar from its Chinese portal.

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Google Vs. China

Posted by Amita Kalra on March 20th, 2010

Even as talks between Google and the Chinese government reach a virtual stalemate, Google intends to retain substantial business presence in the region.

If speculation is to be given any weight at all, the US internet group will be announcing the closure of its flagship local search engine; google.cn; as early as monday – just as it had threatened earlier, in case the government does not allow uncensored search results.

A state-owned Chinese newspaper, quoting an unnamed Google employee, reported yesterday that the company could announce the closure of google.cn on Monday. A person familiar with the situation said last week that Google had drawn up plans for the closure of the Chinese search engine and hoped to manage an orderly exit from the country. Google.cn is a joint venture between the company and a domestic partner since the government does not allow foreigners to hold content in the internet content business. Google’s workforce is employed by a wholly US based company, however.

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China Tightens Bank Lending Rules

Posted by Amita Kalra on February 21st, 2010

As a follow up to the recent increase in the reserve requirement ratio in China, the CBRC (China Banking Regulatory Commission today announced two more regulations aimed at monitoring working capital loans and personal loans.

The regulation on working capital loans stipulates, working capital loans cannot be used in investments including fixed assets and shareholding. The issuance of excessive loans and appropriation of loans should be also be avoided. Face to face interviews will be made necessary when approving personal loans, according to the regulation on personal loans. The two regulations both state lenders and borrowers should declare the purpose of loans before they are made. The regulator will punish lenders that freely distribute working capital loans and companies that use those loans for purposes such as capital expenditure, stake investment and some other areas that the government doesn’t allow, CBRC said.

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China Increases Reserve Requirement for Banks

Posted by Amita Kalra on February 12th, 2010

In an effort to curb lending and put a limit to inflation, China, for the second time in the last 5 weeks, has increased the banks’ reserve requirement ratio, which the ratio of the money to be kept with the central bank, which cannot be lent out to consumers and earns very little interest. This effectively means that commercial banks have lesser money to lend out to customers.

The People’s Bank Of China, the Central Bank, has pushed up the ratio by half a percentage point, to 16.5% for large banks (with effect from February25). However, it remains unchanged at 14% for smaller financial institutions.

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