Rat für Geschäfte in China – Interessante Vorträge in Deutschland

Hamburg, Berlin und München werden am 25., 26. und 27. September 2012 die Städte sein, an denen die Referenten der CHEURAM Consulting Group aus Hongkong Vorträge halten werden, die sich an Unternehmer richten, die ihre geschäftlichen Aktivitäten nach China ausdehnen möchten.

Im einzelnen geht es um folgende Themen:

  • Erläuterung der Rechtsformen, die für ausländische Investoren und Unternehmer in Betracht kommen, unter Einbeziehung von Hongkong
  • Darstellung der Besonderheiten, die es bei der Gestaltung von Verträgen mit chinesischen Geschäftspartnern zu beachten gilt,
  • Schutz von Urheberrechten (Patente, Markenschutz),
  • Erkennung und Vermeidung der eigenen Haftungsrisiken zu kennen und
  • Beschreibung der Möglichkeiten der Rechtsdurchsetzung in China zu beschreiben.

Deutsche und chinesische Juristen sind Referenten.

Die Vorträge finden jeweils von 16:30 bis 20:00 Uhr Kostenbeitrag beträgt  € 50,-

Anmeldungen sind zu richten an info@cheuram.com

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Reichtum in Shanghai

Die CHEURAM Consulting Group Ltd. stellt folgenden Bericht aus der Jing Daily zur Verfügung und empfiehlt deutschen Unternehmen und Unternehmers, die Gelegenheiten im China – Geschäft und sich sorgfältig vorzubereiten:

According to the recent “Shanghai Wealth Report 2012,” published by the Hurun Report and Australia’s Gao Fu Wealth Management, Shanghai, mainland China’s financial center and a rising star on the global business scene, now has 370,000 residents worth at least 6 million yuan (US$949,710), with business owners, real estate investors and professional investors ranking as the city’s wealthiest. The report adds that 140,000 Shanghai residents have assets of 10 million yuan (US$1.6 million) or more, an increase of 6.1 percent over last year and a full 14 percent of China’s high net worth individuals. A similar increase of 5.1 percent was seen among the 8,200 “super-rich” residents, whose net worth meets or exceeds 100 million yuan (US$15.8 million). Of the super-rich individuals in Shanghai, the Hurun Report details, 75 percent are business owners, while real estate investors account for 15 percent and professional investors account for 10 percent. “This year’s report,” said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, “shows that property is the biggest source of wealth in Shanghai, while globally, most wealth comes from professional investment.”

Still, since China’s real estate industry remains on shaky ground and the stock market is far from a source of strength, Hoogwerf added that we should see changes in the makeup of upcoming rich lists. Currently, Liu Yongxing of the East Hope Group and Zhou Chengjian of fast-fashion retailer Metersbonwe Group rank as Shanghai’s wealthiest residents, with Liu’s fortune reaching 41 billion yuan (US$6.5 billion) and Zhou’s 32 billion yuan (US$5 billion). And as the enthusiasm of a growing number of wealthy Shanghainese has cooled towards stock market or real estate investment, interest in wealth management products and the art market has grown over the past two years.

According to a recent survey of 1,200 wealth-management product investors around China by Citigroup, 73 percent of respondents planned to invest more in these products in the next year, with the Wall Street Journal noting an “exodus” from bank deposits among wealthy Chinese. As Citibank’s study concluded, “[wealth-management products] are likely to continue to grow rapidly in China and to maintain their drag on deposits in the near term.” This growing interest in wealth management among wealthy Chinese has given an increasing number of banks the motivation to offer a wider array of these products, with the Australia and New Zealand (ANZ) Banking Group saying this week it plans to invest US$300 million to support the growth of its China subsidiary and boost its presence in the Asia market. As ANZ CEO Mike Smith said in Beijing this week, the bank is “on the verge of getting the green light” to provide retail banking and wealth management services in China. Said Smith, “Wealth management and individual wealth products are definitely things we will look at in future.”

As overall Chinese economic growth is expected to slow this year, banks expect an increase in the number of wealthy individuals to seek higher rates of return via wealth management services, with the Australian noting this week that ”many households are taking advantage of the gradual opening of access to other wealth-management products than bank deposits, the return of which is generally below the inflation rate.”

In addition to wealth management products, another area where some wealthy Shanghainese have put their money is the art market. Over the past several years, this has been particularly true for the city’s ultra-wealthy, among them super-collectors Liu Yiqian and Wang Wei, who have spent an estimated US$317 million on Chinese modern, revolutionary and contemporary art and antiques. This November, Wang and Liu plan to open their private “Long” (or “Dragon”) Art Museum (龙美术馆) in Shanghai, a 10,000 square meter (107,640 square foot), three-level private museum on which the couple has spent an estimated 200 million yuan (US$31 million) of their own money to fund. Designed by Zhong Song (仲松), a “post-70s generation” artist and architect who started off his career at the studio of the late Beijing artist Chen Yifei, the museum’s facade will feature a light-colored granite facade onto which images will be projected, while the interior will feature separate sections for modernist artwork, Wang Wei’s beloved collection of “Red Classics” from 1949-1979, and Chinese contemporary art, as well as space for arts education classes.

Along with Wang and Liu, a growing number of Shanghai’s wealthy, aspiring collectors are getting involved in the market, so quickly that Liu himself doesn’t even recognize many of the new players. As Liu told Sohu Finance last summer:

[I expect] we’ll see more and more new collectors enter the market. Over the past five years, there were only a few collectors involved with this market, and we were therefore quite familiar with buyers as well as sellers. But this situation has changed this year, as half of the buyers are even new to me.

I guess I’ll only know less than one-fifth of the players in this area in the next five years.

As the Huffington Post recently pointed out, it’s not just an interest in diversifying assets away from cash or real estate to avoid inflation or economic fluctuations, there’s a growing status element to the art-collecting trend exemplified by Wang and Liu, as well as other prominent collectors like Indonesian-Chinese contemporary art devotee Budi Tek and Yang Bin. This is tied closely to the (slowly) growing interest in philanthropy seen in China. Though philanthropy remains in its relative infancy in China, with donations reaching US$16.4 billion in 2010 — compared to $291 billion in the United States — according to China.org.cn, philanthropy tied to arts education and private museums is becoming increasingly visible in places like Shanghai. As the Huffington Post noted:

A growing interest in philanthropy is one reason behind the private museum boomlet. Rapid growth is creating thousands of new millionaires in Asia each year. Their ranks grew to 3.3 million in 2011, surpassing Europe for the first time, according to Merrill Lynch and Capgemini. Between January last year and March this year, China’s top 100 philanthropists donated $1.6 billion, according to the Hurun Report, a Chinese rich list. That’s about a fivefold increase from 2004 when the list started.

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The Chinese Luxury Consumer White Paper 2012, jointly published by the Industrial Bank and Hurun Report

Henning Schwarzkopf von der CHEURAM Consulting Group Ltd. aus Hong Kong verweist auf einen sehr interessanten Artikel im Hurun Report mit dem Titel The Chinese Luxury Consumer White Paper 2012 in Zusammenarbeit mit der Industrial Bank of China.

  • There are 2.7 million high net worth individuals (HNWIs) in China with personal assets of more than 6 million Chinese yuan (equivalent to US$950,000) and 63,500 ultra-high net worth individuals(UHNWIs) with assets of more than 100 million Chinese yuan (US$15.8 million)
  • Chinese luxury consumers expect their private banks to provide value-added services relating to luxury travel, health care and children’s education
  • 70% of those who have read an Executive MBA want to study a second one
  • 85% plan to send their children to study abroad
  • The luxury consumer exercises 2.3 times a week
  • High net worths are on the road 6.9 days a month, with ultra high net worths 9 days
  • Two thirds have started a collection: watches and classical Chinese paintings are most popular
  • Half have a religious belief
  • 10% of annual spend goes on gifting. 80% of gifting is for business.
  • 73% of individuals purchase luxury goods in Hong Kong.  28% purchase goods in the Mainland
  • Internet surpasses television as the main source of obtain shopping information
  • 20% have little confidence in their knowledge of what they are collecting
  • Li Kaifu’s Weibo or micro-blog is most popular, followed by Wang Shi, Pan Shiyi, Ren Zhiqiang and Shi Yuzhu
  • 35% own pets
  • 13% of UHNWIs intend to purchase a corporate aircraft

The Industrial Bank and the Hurun Report Research Institute today released The Chinese Luxury Consumer White Paper 2012, a ground-breaking report on private banking in China and the evolving lifestyle of the Chinese luxury consumer. This authoritative 48-paged report comes at a time when the nation’s high net worth individuals (HNWIs) are growing rapidly and seeing an evolution in their value systems and tastes.

Industrial Bank’s vice president of retail banking and general manager of private banking, Zhang Changgong, said, “The consumer lies at the heart of a country’s stable economic development, and analyzing the consumption demands of the luxury consumer has practical significance to expanding domestic demand. This white paper is able accurately to reflect the characteristics and trends of the Chinese luxury consumer. We are proud to put out this white paper with the Hurun Research Institute, the authority when it comes to the Chinese luxury consumer.”

Hurun Report chairman and chief researcher, Rupert Hoogewerf, said, “We are delighted to cooperate with Industrial Bank, one of the world’s most innovative banks, to produce this authoritative and ground-breaking report on the Chinese luxury consumer. Most brands now recognise the spending power of the Chinese luxury consumer, but we believe this report to be the first serious attempt to ask the question of ‘Who these people are and what makes them tick?’.”

Between October 2011 and January 2012, the Industrial Bank and Hurun Research Institute conducted 878 face-to-face interviews with Industrial Bank private banking customers from 29 cities across China. The average personal wealth of respondents was 49 million Chinese yuan.  Their annual spend was 3% of personal wealth.

How big is the market

In the report, we classify HNWIs as those with more than 6 million Chinese yuan worth of personal assets. At present, there are 2.7 million high net worth individuals in China, 6 in 10 being male, with an average age of 39 years. Their main sources of wealth are returns on investment and the ownership/sale of their companies. Their main investment choices tend to be real estate, stocks and shares, however, interest in fixed income investments is gradually increasing. In addition, they own an average of three cars, four watches, take 20 days of holiday a year, with their preferred sporting activities being golf and swimming.

There are 63,500 UHNWIs with personal assets of more than 100 million Chinese yuan. 8 in 10 are male, with an average age of 41. Their main source of wealth is through the ownership/sale of their companies. Real estate and stocks remain the two most popular investment choices, but they also invest more in art and unlisted companies. UHNWIs own an average of three cars, six watches, take 20 days of vacation a year, and like playing golf.

Analysis of the regional distribution of HNWIs shows that East China accounts for the highest proportion, at more than 40%, whilst Beijing has the highest total number, with 460,000 individuals, 10,500 of them UHNWIs. Guangdong province is in second place, followed by Shanghai and Zhejiang province.

Key consumer spending areas – travel, daily luxuries, children’s education

HNWIs spend an average of 3% of their personal wealth a year.

Travel is the biggest area of consumption for HNWIs, accounting for 19% of their annual spend. Next come daily luxuries, at 15% and children’s education which accounts for 12%.

Travel, healthcare and children’s education are top three consumption hot-spots

Luxury travel is emerging as the hottest growth area in terms of spending. More than 50% of HNWIs expect their expenditure on travel to increase in the future, with health and wellness and children’s education close behind at 40%. China’s HNWIs are paying ever more attention to their health, with 73% choosing to have regular check-ups, and a further 10% already having a personal physician. There is also a clear rise in the proportion of both male and female HNWIs who neither drink nor smoke. The number of male HNWIs who do not smoke rose from 35% in 2010 to 50% in 2011, whilst those who stopped drinking rose from 19% in 2010 to 25% in 2011. Children’s education is HNWIs’ third largest area of spending, with 85% saying they have a plan to send their children abroad to study, while among UHNWIs the figure is 90%. Furthermore, a growing proportion is choosing to send their children abroad earlier.

HNWIs want their private bank to provide luxury travel advice, with 60% of respondents. Half want health-related value-added services, while more than 1/3 favouring services related to their children’s education. HNWIs are greatly interested in value-added services provided by private banking, since such services not only increase their knowledge and provide entertainment, but also offer them a chance to expand their social circle.

Education is seen as an important platform for improving one’s Social Networks

Almost half of HNWIs intend to take part in training programmes over the next three years. Over a third of HNWIs like to attend conferences and lectures, while almost 30% have taken part in EMBA programmes or further education classes for CEOs. Among those who take part in EMBAs and CEO further education classes, more than ¾ feel that the biggest benefit they get from this is in helping to expand their Social networks. For HNWIs below 30 years, improving their social networks (87%) and educational level (45%) are top priorities. In addition, almost 60% of HNWIs seek to better themselves through reading.

1/3 are Buddhist, followed by Christians and Moslems at 7% and 3% respectively

Approximately half of HNWIs have a religious faith, with Buddhism the most popular, at 30%. 7% are Christians, of which 70% are Protestants and 30% Catholics. Half profess to have no religious faith.

The proportion of HNWIs who are Buddhists is higher than the average for the country, which stands at 18%, according to data from the ‘Religious Blue Paper: Report on Religion in China (2011)’.

Young HNWIs, aged below 30, are more likely to be Christians, at 11%, compared with the over 30s (31-45: 5%; over 45: 3%). Of the HNWIs who possess a religious faith, the proportion of women is higher (37%) than that of men (25%).

Gift spending accounts for 10% of annual consumption, with 80% for business

Gifts are one of HNWIs’ five top areas of spending, costing them some 150,000 Chinese yuan per year – and, for UHNWIs, more than 260,000 Chinese yuan. Gifts given at business occasions account for almost 80% of the presents given by HNWIs, while more than 40% of HNWIs also need to give gifts at weddings and other celebrations. The majority of HNWIs will choose gifts worth between 5,000 and 20,000 Chinese yuan, with men choosing more expensive gifts than women. Watches are HNWIs’ first choice for gifts when buying for a man, while red wine is the most common gift among UHNWIs.

High quality and exceptional brand reputation are seen as the most important luxury good characteristics

Quality is seen as the prime luxury good characteristic of luxury goods, reflective of a shift beyond seeing the luxury good as a status symbol. HNWIs are not concerned  about the price, and the most important factor is the product itself, followed by the purchasing environment. HNWIs’ luxury goods purchases are concentrated in watches and jewels, whereas purchases by UHNWIs are showing a clear trend towards super-luxury goods such as yachts and private jets. In addition, it is of no surprise that more men bought watches (66%) and tobacco and alcohol products (36%), while more women bought jewels (58%), clothes (51%) and accessories (31%).

Hong Konghas become the undisputed first choice destination for HNWIs to buy luxury goods or high-end consumer products. Less than 30% of HNWIs buy luxury goods domestically, due a lack of product safety, poor management, a lack of credibility, high prices and high taxes. Hong Kong accounts for 73% of luxury or high-end purchases made by HNWIs, followed by those made in Europe and domestically, both at 28%. On average, HNWIs go abroad to Hong Kong to go shopping 2.9 times a year, whilst among UHNWIs the frequency of such trips is markedly higher, with an average of 3.7 times a year.

The Internet dominates television as the main source of information for consumer products

The Internet remains the most widely used media resource, with 67% HNWIs using it as their primary source of information. Sina.com is the most popular website, favoured by 73%, followed by Sohu and Tencent, at 47% and 35% respectively. More than 60% of HNWIs will obtain information from the web before making a purchase, a higher percentage than those who get information from television, magazines, or recommendations from family and friend (50% each). Television is the second-most used media source, with 62% of HNWIs mainly getting information from television. Of these, more than 70% mostly watch news and business programmes.

Leisure spending and travelling abroad

HNWIs work 39 hours every week, and spend 18 hours on leisure and entertainment. There is no obvious distinction between their working days and the weekend – they simply work when they need to, and take time off when they want. HNWIs go abroad an average of 3.2 times a year, while for UHNWIs the figure is more than 4 times. Holiday and business are the main reasons for travelling abroad. HNWIs spend an average of 7 days a month travelling for work, while UHNWIs travel the most, averaging 9 days a month. HNWIs take a relatively high number of holidays, averaging 20 days break a year, while 30% take more than 30

General Consumption Trends

HNWIs’ way of life can be divided into three main stages: wealth creation, wealth preservation, and wealth appreciation. Having passed through the first phase where luxury goods are used as tools to confirm one’s social status they have now entered the stage of wealth preservation with a lower-key way of life and are edging towards the final stage of wealth appreciation which sees more taste-based consumption as well as a more charitable way of life.

An additional trademark of the second phase which is seen in abundance with Chinese HNWIs is the joining of clubs and societies, partaking in elite sports, completing further education courses or becoming a collector of fine items.

 

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Webinars zum Luxusgüter – Geschäft in China

Henning Schwarzkpf von der CHEURAM Consulting Group Ltd. kündigt für die kommenden Wochen regelmäßig stattfindende Webinars in deutsch an, bei der Fachleute aus den Gebieten Wirtschaft, Finanzierung, Recht und Steuern in deutsch zu Themen referieren und Fragen beantworten werden, die für Unternehmen in der Branche für Luxus und Luxuswaren in China relevant sind.

Nähere Information zu Zeiten und Daten sowie zum Zugang zu den Websinars erfahren Sie, wenn Sie ein Mail an info@cheuram.com senden.

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Markenschutz bzw. Brand Protection in China

Es kann nicht häufig und nachdrücklich genug hervorgehoben werden, wie wichtig es ist, die eigene Handelsmarke, Gebrauchsmuster und Patente in China zu schützen, also effektives “brand protection” zu veranlassen, um zu verhindern, dass einheimische Unternehmen dem ausländischen Anbieter zuvorkommen und “schon da” sind, wenn dieser erst mit den Marketingvorbereitungen beginnt – der chinesische Markt ist dann für ihn geschlossen.

Henning Schwarzkopf von der CHEURAM Consulting Group Limited stellt hier einen Beitrag von Terence Tam des Hong Kong Trade Development Council (HKTDC) zur Verfügung, der diese Situation zusammenfasst und Maßnahmen schildert.

Fragen Sie uns bei Bedarf! Die Verbindung zu Spezialisten in Hongkong und China stellen wir gern her

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