Citigroup approved to set up life insurance JV in China

Citigroup has received approval from supervision departments for setting up a life insurance JV with Shanghai Joint Investment Company, a company invested by the State-owned Assets Supervision and Administration Commission of the Shanghai Municipal Government. The Citigroup will hold 50 percent of shares in the JV. Next year, the Citigroup will offer life insurance products in China. A survey shows only 2.2 percent people in China has life insurance in 2002, while the resident's savings reaches USD 1, 400 billion.

Motorola to carry out internal reform

Daniel Shih, President of Motorola (China) Electronics Ltd says, "Motorola is not suffering from serious illness, but it more needs heath". To help Motorola regain the market share it has lost, he decided to divide the greater China region into four regions. In order to take initiatives in market, each region will be operating as an independent accounting unit. At the same time, the internal management system will undergo some changes. With 12, 000 employees in China, the organization of Motorola is too complex. He thinks efficiency of employee will be enhanced only after the organization problem is resolved.

Goods with Carrefour's own brand enters Chinese market

Carrefour, the 2nd largest retail group in the world, will promote goods with its own brand in the Chinese market, announced its director of commodity department (China) recently. Carrefour will be responsible for the whole process of designing, producing and sales of the goods. The goods, including foodstuff, clothes, household necessities and groceries will be on sale in Carrefour stores only. They will be 20 percent cheaper than goods of other brands. This time Carrefour will launch about 400 kinds of goods for sale. By the end of this year, 800 types will be available to satisfy needs of 50 million customers.

Microsoft and Kodak attain huge market share in China

A survey of the Fair Trade Bureau, Industry and Commerce Administration of China shows that a number of transnational corporations, including Kodak and Microsoft have attained dominating position in their relevant fields. These enterprises often curb or restrict competition by using their advantageous position. At present, Microsoft's operating system has grabbed 95 percent of the Chinese market; and Kodak has taken 50 percent of the film market. Kodak's leading position is even consolidated after its joint venture with China Lucky Film Corporation.

By People's Daily Online