IT_Why Hong Kong is hard for IT guys?

"Don't join the IT company in Hong Kong, or you will have no future". Friends always warn me.

Really? Are Hong Kong people are so afraid of developing IT business, or they are not that smart to be involved in the business?

Hong Kong is one of the most developed cities in telecommunications, with advanced products and cheap fees. But the IT stocks are not that welcomed by investors compared with Nasdaq in United States. Richard Li, the son of Li Ka-Ching, the riches Asian billionaire, once invested a lot in the business.but then shifted to properties and seems never step into the IT now.

Does that mean it is an opportunity or a doomed business in the city? Anyone having idea?

Banking_why Chinese banks are attractive?

The latest news in China's banking industry is Hua Xia bank is went after by many foreign banks such as Deutche Bank and Singapore DBS. As one of the five listed bank in China, it may be famous but I am sorry I never use its service before. Just wonder why it is so attractive in a near-double price that its paper value in the stocks.

Foreign banks have their own reason to buy to try to grab a bit before the other competitors get into the China. But the problem is not all the banks are well set up. Not to say the state-owned ones, but the private-developed banks are learning bad habits for the goverment-backed ones. The only good bank I think is China Mercants Bank, for its efficiency service and advanced web system. The only advantage is it is not government-backed, which means it couldn't enjoy the benefits as those giant and slow banks do.

I always think there are problems between China's fast developing economy and its weak banking system. In some means, the banking system on the typical examples based on the political systems.

If banking systems develop in a foreign way,how about the political system?

Business_Do social network website still popular

Someone just invited me to WAYN-Where are you now, a new website for social network in the world where you could make new friends. The business idea is really boring, though the website's design is not bad. You have to fill in a lot of private information to register and then you could either look for new friends or invite friends there, which is already a niche business idea among social network wesbites. Say, Linkedin, Friendster, and so many.

How those social network websites make money? Some of them via getting subscription fee from VIP users, some of them via advertisement, but the money is not that fat.

One of the most popular social-network websites in China is Chinaren, a website famous for its groups for alumnies. I would say, 80 percent of the university graduates own a Chinaren account and go there at least once a week. That's really huge. But the website itself, though that popular, is not making huge money. It was bought by Sohu, one of the three biggest portal websites in China. After the deal, the only advantage is the user could access to Chinaren via a Sohu account.

"How the website didn't make money with so many middle and high-end customers?" One of the friends who invests in Internet in China asked.

I don't know. The only reason is that some websites are good at attracting customers; some are good at creating new making-money idea. But only a few could do both.

of course, Google is one of those who have done both. And others?

P.S. not sure what Ebay could do with Skype. If it only makes the recently-bought Skype do the same thing as it did to Paypal, I would like to say the deal will be a failure.

People_interview with state-owned company officials

As I cover mainland but not live there, I have to make hundreds of calls per day to try to get the right and prompt information. It is always interesting to talk to people on the phone, where you always have to know people's thinking and opinions just via their voice.

Not many, or only a few people are nice to the reporters, especially someone from outside. Sometimes, they said they didn't know anything though they did; sometimes, they would introduce the reporter to someone else, whose phone never get through; sometimes, they even joked at me:

Amy: Hi, is there ****? I am the reporter from ****

Someone: Hmmm, why not you call 110? (110 is the emergency number in the mainland) (Then he quickly hung up)

I stucked at the words for almost half a minute, just wonder if it is a joke, or he is really serious...


That's why I kind of felt scared before calling someone in mainland. You will never know what you will get next, though someone's mother told "Life is just a box of chocalate".

This time, I tried to call a company Cinda Asset Management Co. which is one of the four state-backed bad loan clearers in China. And they are nice. Out of my expectation.

I called two people, one in Beijing and another in Northern Heilongjiang.

Beijing guy is conservative and really knows his responsibility on what could be given to reporters and what couldn't. But the point is he is nice to every question in the whole process, without any urgent feeling to hang up the phone. I was flattered, to tell the truth. As an official in the state-owned company, he could just do his job, without talking with media. But he don't.

Heilongjiang guy is more open compared with Beijing guys. (I guess he doesn't know how distructive media will be sometimes) He is willing to give any information, and willing to answer questions with all he knows. At last, he even said "welcome calling me back". I was flattered further by the email I got from him after I sent him my contacts the day before. The email says" sorry for the late response, I got your contact". Wow...

I am always interested in digging into the interviewees to study on Chinese's character, also including mine. Sometimes I am too open to the local, sometimes I am too conservative to the world. In such a world city like Hong Kong, I am still looking for enough confidence in my country. Experienced in a changing process in this one hundred year, Chinese are changing fast, from proud to scare, to conservative, to.. I believe it will work back to the start finally that everyone's mind will be peaceful.

link to the story: http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=1370&sid=4562115&con_type=1&d_str=20050915

People_met a Thailand millionaire

Though Ranked in the Forbes billionaire list, Dhanin Chearavanont couldn't be easily recognized as one of the world's riches men just via the look. He is outspoken and nice, with a speak style like the one of the Chinese leaders. One thing why I liked him is he praised me my question in the press conference as the best one among all. Haha, but the contradicting problem is if I could do a good journalist job when the interviewees tell me the questions are good.

As a expert in feed industry in China, Chearavanont has leaded Chia Tai group into the top company selling feed meal in China, with almost 7 percent of the market share among the nation. His next aim is to do more value-added work on the raw meal and eggs. "China is a big market for eggs, chickens and porks", he said. "We want to be the kitchen for China".

Is it easy? of course not. With the hard competition and people's remaining scare towards chicken and pork, it is difficult for Chia Tai group to make a big step to change everything. Also, people's eating habit has gradually changed from meat-focused to vegetable-focused, which may lead to a decrease in China's meat industry(BTW, diary products really did good these years)

The billionaire is also interested in doing supermarket business. The "lotus" supermarkets in China has been expanded to 51 among the nation, though it is not famous as Walmart and Carrefour.

But investing in the agricultural industry is more safe than investing in others. People need to eat whatever time, right? In that sense, this billionaire is smart.

The link to my story: http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=1283&sid=4545754&con_type=1&d_str=20050914

Media_what's the potential future for newspapers?

Have you still read newspaper? I guess more than 50 percent of the youth between 20 to 25 would say no. Even before I work in the current newspaper, I don't read it in print, too. So does newspaper still have the market?

Newspaper is hard to report spot news now coz it couldn't report it anytime as Internet/wires do. Newspaper stories are also not research-based and well-written as reporters don't have enough time to cover all in one day. The only advantage for newspaper is that some readers are still used to reading newspaper every day, not every second, or every week. But will that last long?

Some newspaper does a good job. New York Times, Wall Street Journal and Financial Times still post good-quality articles as well as inside news. But for the others, the job is easies, with following news wires and writing simple stories, which could only keep current readers without expanding more.

So what's the future for newspapers????

Opinion_enjoy a free weekend

After started working again, suddenly I feel the importance of a free weekend.

Slept at 3 am in the evening, I got up pretty late today, almost 11am. Wearing my favorite clothes, I got to a famour Chinese restaurant in the downtown. Though my friend came an hour late, I enjoy a fantastic meal with her in a nice mood. We eat the traditional Chinese morning tea as well as the most popular dessert in the restaurant. At last, I gave the manager a big smie.

After that, I went back to school to enjoy the fresh air here. Sitting in the computer roon, I viewed all the blogs in my portofolio that were missed in the working day, also I read many interesting news(not in financial sector, of course). I even go to a science fiction website in my university to download the list for SF films and fictions. I may write some of the science fiction in the future.

There may be a gathering in the evening. If not, I will go back home and work on my SF plan. Amy is always a SF fun and believes in the stuffs such as time travel and butterfly effect. Hoho, my dream is to be a SF writer, though it is still too early to say.

Tomorrow is free, too. No plan yet, but there will be some interesting things to do.

Story_Datang Power

Power Plant push by Datang-Amy

P.S. the management in Datang Power is experienced in dealing investor relations and media enquiries. The spokeman is also knowledgeable on the financial knowledge, which is not common in the mainland companies listed in Hong Kong. Just rememer some company I saw weeks ago, when all Chinese managements sit in the front, hearding a Cantonese-speaking CFO bluh-bluh-bluh, without any idea what he is saying about, neither dialect nor the words.

Media_newspaper provide RSS feeds

hoho, if you are the newspaper's fun, you should not miss this. But as Fons said, I definitely suggest dividing it into different categories in the future.

RSS: http://www.thestandard.com.hk/newsfeed.asp?d_str=20050831

myself_My five weird habits

Lily, my classmate, invited me to write my weird habits coz she though I should have to write more about myself in the blog. Asianpan, an online friend, also asked me to do that. Seems I have to post them before they are upset, hhhh...

My five weird habits:

(1) watch Korean TV series for the the whole weekend, without moving. (except going to the washing room)

(2) hang around on the street without any idea where to go. (If I have time)

(3) like watching handsome guys(hoho, the habit for all girls, maybe)

(4) watching movie alone (coz it is better to get a good position)

(5) speaking different languages in the dreams (I have dreams in English, Cantonese, and maybe Korean)

Chain rule: 1) write five of your weird habits2) invite five other bloggers

My invited bloggers include:

Fons (don't always report on China, report on yourself, too)

Marc (your habits must be interesting)

Leaffe(You never update your blog, but please update yourself, haha)

Andrea(haha, you must be busy without posting for weeks, right?)

Isaac(Am I crazy to invite such a famous blogger? hmmmm.... I am)

Myself_feeling so bad, the first time in a week

Amy, a business reporter, felt so bad today. She commited a stupid mistake on the term in a company's report. Though nobody blamed her, she felt so bad this evening.

Amy even didn't realize the mistake after the editor noticed her the first time. Today must be a bad-luck day for Amy, when she misunderstood "Tax credit" on the profit and loss reporter to"Reversal on the value added tax".

She felt so ashamed....

Media_online ads hot, newspapers suffer

China business network newspaper, or the first business news translated from Chinese, will lay off employee soon and reduce the remain's salary as far as 50 percent. SMG, the biggest shareholder, may let Beijing Youth Daily Group to manager the newspaper to reduce the cost, reported Singapare United Times, forwarded by a friend.

The advertising money of newspapers only grow by 5.77% in the recent four months, the lowest rist in the recent years. In May, the eight big newspaper in Beijing got a decrease of 29.92% in the advertising, which is 175 million yuan.

Compared with Baidu's fat advertising fee, newspaper, in its bad time, will definitely suffer. Though the media is still partly supported by the goverment, it will not last forever. Will they disappear at last??

Sorry, guys, too busy these days

Hi, all my lovely readers, sorry for not updating for four days. I've already got a job in the Hong Kong Standard. It is exciting, though I don't have enough time to write my blogs now. Working for almost 12 hours a day is not terrible, but I have to write in English, my second language, all day.

Hoho, but it is really fun, fun, fun.

Media_My new media lecture in an old media room

It is always interesting to meet editorial team in the traditional media to see their attitude towards the new media.

This friday, I met with the editorial team in Yazhou Zhoukan, a Hong Kong-based Chinese magazine famous for its politics analysis. The magazine's editor asked me to give a lecture on the new media and Internet, especially their development in China. It is not difficult in fact, but it is hard to change those technical words such as peer-to-peer and folksonomies into easily-understood words. Not anyone has the computer background as me, so I have to try to make things as easy as possible. For example, when the editor asked me what Internet Protocol address is, I said it is kind of like the mail address in the real society.

With a basic introduction on the Internet's hot topics these years, Amy found many reporter and editors are still staying in the period four or five years ago. They could use Internet to look for information and exchange emails, but they never know popular fashions such as Flickr.com, bloglines.com and even blog. Some may consider blog as the place for only rumors, while some others are worried that their blogger account may be stolen before the thieves publish faked stories. To me, it is the common attitude in the news room, some of them are funs of new media, while others are afraid the power of technology.

We even talk about the reading habit and the life of print magazines. Some reporter argue that people are still used to reading paper, instead of LCD screen; I agree, but the fact is that technology is also developing. Maybe one day LCD screen will just look like the paper, bringing same experience to the readers.

The website of Yazhou Zhoukan is still the kind of magazine style; weekly issue and content divisions are uniform with the print one. The editor is kind of worried why they have a strong brand, but make few money from that. It is also the problem for all editors. Some of the media own great content, but don't know how to set up a business model; Others know how to get revenue from various communication ways, but don't have valuable content. But if they could cooperate, things will be easier.

Internet, is just a new platform; it still needs good content, as well as useful business model. Many companies are still on their way; successful businessmen should know how to focus on the core business. It is funny to see editorial team talking about advertising, while advertising people write content.

IT_are you following your heart?

Are you following your heart right now? Lee Kaifu, the now Chairman of Google China and former Vice President of Microsoft, did that. The fourty-something scientist is known for writing ecouraging pieces to young college students. He give a formula for google's success:
youth + freedom + transparency + new model + the general public’s benefit + belief in trust = The Miracle of Google


Hoho, when Microsoft first developed, its success formula seems not that different, right?

Media_who's buying who?

After an hour, Yahoo will take a 35 percent stake in Hangzhou, China-based Alibaba for $1 billion, including cash and the total asset of Yahoo China, reported Red Herring. Friend Marc also reported here.

Interestingly, Sina's headline about the story is "Alibaba will buy the whole Yahoo China this afternoon".

Wow, Amy wonder what the word "buy" means in the Wall Street. Without spending a cent, you could buy something, right?

Needing help?

Does anyone know some foreign expatriates in Hangzhou or Suzhou who bought villas or aparments there? I am writing a story on that and it will be a great help to find someone who
would like to share his/her experience and some photos in the new house?

Media_Search Engine Strategy Conference

When Baidu's price is still skyrocketing, giant search engines such as Google and Yahoo are holding the Search Engine Strategies Conference in San Jose from Monday to Thursday.

Just wonder how they will talk about Baidu.... Do you think it is the competitor or meat?

Media_Baidu, mix concept between China and Google

Chinese, especially IT enterpreneur, are excited about Baidu's skyrocketing price. Someone even praised it as the beginning of China to grow up. But see how market commentator in U.S. say about Baidu's price, you will get a conclusion on what is really happening now.

Mixed between the hot "China" and "Google", Baidu should know where its position is. This is not the era of Internet bubble, or maybe the second one.


The most cute one is this:

"This is a `son-of-Google' investor mentality. Everyone remembers they could have had Google at $85 and don't want to let it happen again."

---David Menlow, president of IPO Financial

Media_where's China's own idea?

China's Internet users has now reached 100 million. When the world is cheerful on the huge number, China's Internet business idea is still leaded by others, say, Eachnet after Ebay, bokee after blogger(the concept of blo), now, Baidu after Google. The search engine in China created another miracle listed in Nasdaq.
CNN reported: Baidu.com shares surged about 195 percent, to about $78, from their initial public offering price of $27 per American depositary share, nearly tripled.


All those good Interent business model seems applied to China. I call it good "localization". China is the world's largest manufacturing factory, which is also a good example of "localization", too. But the advantage is only based on cheap labor. If it disappears, the money flowing in will disappear in a few seconds, too.

The latest edition of businessweek told Americans that they should be more and more creative and innovative to maintain the advantage, after China and India becoming the world's factories. But could China keep the advantage forever with the growing property and labor prices, I wonder? How long should China's economy, including Internet economy, grow fast following others' ideas?