German automaker Volkswagen has started a recruitment program to fill high-level positions in its China joint ventures. [Provided to China Daily]

Jobs

VW reaches out for more local talent

With new plants under construction and new products in the pipeline, German automaker Volkswagen Group has reached out to new local talent for its fast-expanding business in China.

The carmaker started a program in the middle of the year called "China 60" to search for qualified professionals to fill high-level positions at key functions of its China joint ventures.

Recruits will be trained for 18 months, including six to 12 months in Germany, before they take on "key positions" at local joint ventures that used to be staffed by German experts, said Klaus Dierkes, executive vice-president of human resources and board member of Volkswagen Group China.

Auto

Continental breaks ground on new plant

German tire manufacturer Continental, a world-leading auto parts provider, kicked off the construction of a two-wheel tire plant in the eastern Chinese city of Hefei on Dec 9.

The plant, expected to be put into operation in December next year, will mainly manufacture tires for mountain bikes and racing bikes for China and some other Asian countries and regions, Constantin Batsch, head of Continental's Two Wheel Tyre business group, said at the ground-breaking ceremony.

The new plant will be able to manufacture 1.7 million pieces of bike tires a year in its early stages, he said.

Aviation

Qatar Airways set to continue expansion

Qatar Airways Co plans to double its number of flights in China to 70 a week by 2013, its chief executive officer said.

The Doha-based carrier, which is the national airline of the State of Qatar, has just increased its frequency across China from 25 to 35 flights each week.

On Nov 28, Qatar Airways launched Chongqing as its fifth destination in China and on Dec 2 the carrier also added three new flights to Beijing and four extra weekly flights to Hong Kong on Dec 2.

Energy

Sinopec increases stake in APLNG

China Petrochemical Corp, the country's biggest oil refiner, has signed a deal to increase its stake in the coalbed methane producer Australia Pacific LNG Pty Ltd (APLNG) to further tap into sources of unconventional natural gas overseas.

The company, also known as Sinopec Group, said in a statement on Dec 12 that it would acquire an additional 10 percent of APLNG, which is jointly owned by ConocoPhillips Co and Origin Energy Ltd.

No financial details about the deal have been revealed.

Deals

Seagate-Samsung HDD deal gets approval

The Ministry of Commerce on Dec 12 conditionally approved US-based Seagate Technology Inc's plan to buy Samsung Electronics Co's hard-disk drive (HDD) business, paving the way for an alliance between the two companies in China.

The merger will have a negative impact for Chinese consumers as China has become one of the world's largest personal computer markets, the ministry said in a statement on its website.

Although the merger will have an effect of excluding or limiting competition in the HDD market, the ministry said it approved the deal after Seagate and Samsung agreed to come up with solutions to reduce the negative impact on competition.

Retail

Watsons to open 2,000 stores in five years

Health and beauty retail giant Watsons plans to open 2,000 stores on the mainland over the next five years to maintain its market dominance in the personal care sector.

"By the end of 2016, we will have 3,000 stores in more than 300 cities," said Christian Nothhaft, CEO of Watsons China on Dec 9.

In 1989, the retailer entered the Chinese mainland by opening its first outlet and by 2009 it had 500 outlets. By 2011, the company has also become the largest health and beauty chain on the mainland, with over 1,000 stores in 100 cities.

Metals

Chinalco inks rare earth deal with Belgian firm

Chemicals and plastics maker Solvay SA said on Dec 13 it had agreed to cooperate with the State-owned Aluminum Corp of China Ltd (Chinalco) on rare earths as the Belgian company continues its expansion into emerging markets.

Chinalco and Solvay will collaborate on the supply, technology and market development of rare earths, a group of metals used in hybrid cars, wind turbines, catalytic converters and batteries.

China Daily-Agencies