China Today - November 2016

TODAY NOVEMBER 2016 C H I N AT O D AY. B I Z

ESSENTIAL B2B NEWS & INFORMATION FROM CHINA & BRISTOL

From Factories to Innovation For so long China has been established as the factory of the world, while countries such as the US, Japan, and Germany have been the homes of innovation. This is finally showing signs of change.

“There is a huge market with great opportunity,” said Dai Xiang, co-founder and general manager of Enpower Energy. After 20 years in the United States, working as a senior manager for startups in Silicon Valley, Dai decided to go back to China and start his own business. “We get a lot of support from the local government,” Dai said.

Enpower Energy provides wind and solar energy storage solutions for households and businesses, and favorable policies allow it to attract talent and stay in Jiangsu for three years without paying rent. We will become the world’s second producer of aqueous ion batteries, after Aquion Energy in the United States, and we expect the company’s business revenue to top 2 billion yuan by 2020,” Dai said.

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// CHINA BUSINESS NEWS

CHINA BUSINESS NEWS //

Yuan (RMB) Becomes A Reserve Currency In what was called an “historic moment” by Chinese analysts and businesses, the Chinese Yuan was last month added to the International Monetary Fund’s elite reserve.

In early 2016, Guangken Rubber made a US$270 million bid for Thailand’s Thai Hua Rubber, the world’s third-largest rubber producer. Following this, the company sought loans from domestic and overseas banks, with some offering to fund the bid in yuan.

“The acquisition in yuan helps reduce foreign exchange risks as well as fund-raising costs,” said Lu Jian, vice president of Guangdong Guangken Rubber Group Co Ltd. Lu went on to say, “Ten years ago, the yuan could hardly go out of the country. But now China’s opening-up and huge economic size has made it more and more popular in the international market.”

Taobao Surpasses Tencent as Leading Brand Recent research by China’s Hurun Research Institute states that Taobao’s brand value currently stands at 230 billion yuan (US$34 billion), followed by China Mobile at 227 billion yuan, and Baidu at 218 billion yuan.

Tencent, who topped the bill last year, have since fallen to fifth place with a brand value of 210 billion yuan.

The combined brand value of the 200 Chinese companies listed in the report reached an incredible record high of 4.6 trillion yuan.

Shanghai Ranked 16th in Financial Hubs A recent survey has placed Shanghai in 16th place in a list of global financial hubs, with fellow Chinese cities Shenzhen and capital Beijing coming in at 22nd and 26th place respectively.

Compiling the list was the Z/Yen Group, a London based firm, as well as the China Development Institute.

Back in 2011, Shanghai was ranked in fifth place but the past five years has seen the fast development of financial technology firms in Los Angeles and Montreal, which has caused Shanghai to fall further in the ranking.

“I believe Shanghai has real capacity,” said Mark Yeandle, associate director of the Z/Yen Group. “If we give it some true light in years to come, Shanghai might rank back among the top-10 centers though that’s with the expectation of how long it will take for the yuan to become truly internationalized.”

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// CHINA BUSINESS NEWS

CHINA BUSINESS NEWS //

The Belt and Road Initiative of Commerce in Beijing, and a documentary will also begin shooting, recording the year-long program and detailing its events. In addition, China pavilions will be built in Belt and Road countries to display and sell products made in China, so as to promote Chinese enterprises abroad.

A newly launched Belt and Road program hopes to improve China’s cooperation with Belt and Road countries.

The new program will be launched on 26th September 2016 at the China International Culture Exchange Center and the China General Chamber

China Launches Fund for State-Owned Enterprise Restructuring As the world’s second-largest economy, China is undergoing its most significant transformation in two decades with a 50 billion yuan (US$52.5 billion) SOE restructuring fund to advance its supply-side reforms.

Wang Xuejun, Deputy Secretary General of “I believe the the China International program will facilitate Culture Exchange the formation of a Center, had this to new platform” say: “I believe the program will facilitate the formation of a new platform for cultural and commercial cooperation and promote coordinated development between China and other countries along the Belt and Road.”

With its steel and coal industries struggling, China recently declared plans to allocate 100 billion yuan to supporting local authorities and SOEs finance layoffs in these areas. Official estimates have shown that an approximate 1.8 million people in the steel and coal sectors could lose their jobs.

The capital raised by the China SOE Restructuring Fund will focus on boosting

the competitiveness of various SOEs and their international operations, including overseas acquisitions.

“Among SOEs controlled by the central government, some have excess capacity while others are suffering from a severe lack of capacity,” said Xiao Yaqing, head of SASAC. “The new fund will help concentrate state capital on strategic and forward-looking industries.”

Internet Powerhouse Baidu Establishes $3billion Fund for Start-Up

China’s largest Internet search engine, Baidu has recently to set up a new fund to invest in startups which are in their mid-andlate development stages, the company announced.

The private-equity-style fund, Baidu Capital, chaired by CEO Robin Li, will allocate about 20 billion yuan ($2.98 billion) in its first round of investment, extending about $50 million to $100 million for each project.

Baidu Capital will be operated independently and will invest in projects related to Baidu’s industrial chain as well as projects in other Internet sectors.

Baidu has announced that it recently established a venture capital firm called Baidu Venture in September to focus on investing in early-stage projects in artificial intelligence, augmented reality, virtual reality, and other innovative fields.

With funding to cover the whole developmental stages of start-ups, Baidu has joined the quickly growing trend for Internet companies such as Tencent and Alibaba, and has established funds to expand and improve their business.

Weibo Overtakes Twitter in Market Capitalisation

Chinese social media giant Sina Weibo overtook its Western counterpart Twitter in market capitalisation for the first time ever during trading on October 17 of this year.

Nasdaq-listed Sina Weibo saw its market value rise to about $11.32 billion at one point during trading, while that for Twitter, which is listed on the New York Stock Exchange, stood at about $11.22 billion at the same time. It is the first time the Chinese microblog service has outperformed its U.S. counterpart in market cap.

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// CHINA TECHNOLOGY NEWS

CHINA TECHNOLOGY NEWS //

The Chinese Government and the Future of VR With a view to partnering itself with private firms of the software industry, China’s government has initiated the Industry of Virtual Reality Alliance.

From local Chinese firms, such as Huawei and Sohu, to international companies, like AMD, Ubisoft, and Nokia, the IVRA claims to have formed partnerships with more than 170 enterprises and institutions. China’s Ministry of Industry and Information Technology is working alongside these companies to promote technology innovation by bridging hardware, software, content, platforms and

industrial applications.

HTC, another one of the 170 companies to partner itself with the IVRA, has previously collaborated with 37 venture capital firms to form the VR Venture Capital Alliance, aiming to invest billions of dollars to promote the swiftly growing global VR industry. By forging a second partnership with the IVRA, all signs point to swift and major software developments in the world of VR.

Chinese Private Equity Firm Buys US Mobile Ad Company With a major stake of US$1.42 billion, advertising technology start-up AppLovin has been acquired

by Chinese PE firm Orient Hontai Capital. This purchase was deemed necessary due to China’s strict laws which prohibit foreign mobile ad companies from obtaining an operating licence in China.

The U.S.-based ad tech company reportedly sent executives to China earlier this year to seek ways to enter the lucrative Chinese market. Once the deal has been finalised, which is expected to happen before the end of this year, Orient Hontai Capital

After a Large Sales Dip, India Gives Xiaomi Hope

will focus on helping AppLovin to expand its market in China.

AppLovin currently claims over two billion users. The advertising firm reportedly generated US$234 million in revenue in 2015, and this figure is expected to double by the end of 2016.

The second quarter of this year showed a devastating 40% drop in shipment volume for Chinese smartphone manufacturer Xiaomi, and predictions show that the October release of Xiaomi phones in the US would not be enough to bring these numbers back up. There is hope, however, in the Indian market.

patch the hole left by Q2’s shipment volume drop of seven million units, what is crucial to remember is India’s open market potential.

With so many members

According to a Facebook post by Manu Kumar, head of Xiaomi India, Xiaomi sold 500,000 phones in India over the first three days of October. “More than six months of rigorous planning and hard work has helped us set a new benchmark in the industry,” his post reads. “Last year we sold more than half a million phones

in 30 days during the month of October, and this year we were able to achieve a similar number within 3 days.”

Though this figure is still not enough to

of the Indian public adopting smartphones for the first time, this is a crucial year for Xiaomi to establish itself as a big contender in the Indian tech market.

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// CHINA TECHNOLOGY NEWS

Apple R&D Centre Opens in Beijing Apple’s presence is unavoidable on the streets of China’s major cities. In Shanghai and Beijing, an Apple product is a status symbol, a representation of wealth, taste, and even good business behaviour. So it is surprising that it has taken Apple so long to set up its own research and development centre in China’s capital.

At last, located in Zhongguancun Chaoyang Park, Beijing, and with a total investment of CNY300 million and a predicted workforce of 500 emplyees, Apple’s newest R&D center will focus on the development of advanced technologies.

CHINA TECHNOLOGY NEWS //

Healthcare Entrepreneur Zhang Rui Passes Away

China’s Race for Space

The Long March 7 is China’s newest, and most powerful, space rocket. On June 25 of this year, the Long March 7’s maiden voyage carried with it seven payloads, including a model of China’s next-generation manned spacecraft and a space debris cleaner, into orbit.

32-year-old Beijing resident and father of one, Deng Xinyu is a senior engineer in the Long March 7 project. “Though

the rocket’s first flight was successful, we are not complacent. Actually, we are busy preparing for its second mission,” Deng told China Daily. “Because the Long March 7 is a brand new model, it is totally different from previous types so our design methods and difficulties were different.”

Propelled by pollution-free fuel, and with a take-off weight of 597 metric tons the Long March 7 is capable of sending 13.5 tons of payload into low Earth orbit and 5.5 tons into a

Currency Swapping ATM Targets Chinese Market TravelersBox, an ATM-style machine steadily growing in number at airports and borders, allows travelers to exchange leftover foreign currency for useful vouchers (PayPal, iTunes, Starbucks etc.) And now a co-founder for TravelersBox has announced a plan to launch more than 40 new kiosks in six Asian airports by the end of 2016, as well as adding support for the mobile wallet created

by Baidu, China’s top search engine.

Co-founder of Chinese healthcare mobile app Spring Rain Doctors, and previously an editor at Netease and a Beijing newspaper, Zhang Rui passed away from a heart attack during China’s golden week.

Spring Rain Doctors has shown incredible success with 29 million

“…we are busy preparing for its second mission”

sun-synchronous orbit.

“The capabilities of a nation’s rockets determine the extent of its space activity,” Deng said. He went on to add that researchers at his academy are fully committed to ensuring China realizes its space aspirations.

“For the Asian market we’ve given specific attention for each of the local travelers’ nationalities.

Solutions such as Nets Flash Card for Singaporeans, Lazada for the Southeast Asian travelers and more, will soon be available in TravelersBox around the world,” the co-founder told TechInAsia.

Huawei to Build Innovation Centre in Nigeria Chinese telecommunications device maker Huawei is set to build an innovation experience centre in Lagos, Nigeria, as the first of its kind in West Africa.

The Chinese company will train information and communications technology talents for this country as it invests $6million in this project.

Huawei’s new project will allow people to access the most cutting-edge technologies in the world and explore business solutions via innovation.

This center will also provide a mutually beneficial platform for the development of information and communications technology ecosystem.

With an area of approximately 500m2, Huawei’s innovation experience centre will apply cloud technologies to enable the sharing of global resources of Huawei in Africa.

active users, and is one of the largest healthcare mobile apps in China.

Many of Zhang’s fellow entrepreneurs have expressed their shock on Chinese social media apps Weibo and WeChat in the past two days as the sad news spread of his heart attack.

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// CHINA POLITICS

China Completes its Construction of the World’s Largest Telescope

CHINA POLITICS //

The American Support for China in WWII

The Flying Tigers, an outfit of 311 men and 99 planes, was known officially as the First American Volunteer Group. Piloting their iconic Warhawks – planes painted with menacing shark mouth snarls – this outfit offered air support for China during Japan’s invasion in May 1941.

Over nine thousand local residents of China’s Guizhou Province have been uprooted in order to make room for FAST, what is now the world’s largest radio telescope.

“I never thought the first time I would move would be to make way for a telescope,” former villager Yang Chaolan, 62 told Xinhua, China’s official news agency. Yang went on to say that her son plans to open a restaurant in the nearby town to which they have relocated, in the hope that FAST will become an excellent lure for tourists.

Scientists’ initial plans for FAST are to map the distribution of hydrogen over time, thus expanding our understanding of the origins of the universe. “Because of FAST’s incredible sensitivity, it will be able to chart the hydrogen distribution even in far flung galaxies,” says Vakoch.

The construction of FAST is the first step in China’s ambitious space program, with subsequent steps being placing their own man on the moon, and sending a robotic probe to Mars. Both of these missions will be aided by the use of China’s new telescope.

Thought to be a strategic effort to keep Japan’s focus on China, giving the US military time to plan and build its force for the rest of the war to come, the Flying Tigers were a secret operation, greenlit by President Franklin Roosevelt. By July 1942, the American Volunteer Group was disbanded and the mission was taken over by US Army aviators.

Three years ago, the graves of hundreds of Chinese troops who died fighting alongside the Flying Tigers were reportedly discovered in southern China. “...despite official pledges to restore and protect it, little has been done,” the New York Times reported in 2013.

The Import of Donkeys for Traditional Medicine Ejiao, a popular Chinese remedy used to treat ailments such as colds and insomnia, is in part mixed from the gelatin found in donkey hides. In recent years, however, China’s cultural shift from agriculture to industry has seen a decline in the local donkey population.

This has forced Chinese pharmaceutical companies to cast their eyes over to Africa and the option of importing donkeys.

However, following an overwhelming wave of sales to China, both Niger and Burkina Faso have banned further exports of donkeys to China after 45,000 of Burkina Faso’s donkeys were slaughtered in six months, from a total population of 1.4 million. “In Niger and Burkina Faso the rising value of donkey hide and meat created inflationary impact in other sectors,” Dr. Emmanuel Igbinoba told CNN. “The price of other animals rose because of the donkey, not because there was demand for this animal, which caused imbalance in the economy.”

“Just as with other livestock, raw materials and other natural resources, the scale of the demand

from China is often so large that it can rapidly overwhelm the supply of any single resource,” Dr. Igbinoba went on to say. “Governments that trade with China… have an obligation to their people to regulate trade so it does not deplete any single resource to the point where it imposes burdens on their own people.”

Chinese demand is only

expected to increase with a consistently growing consumer class which is willing to spend on luxury goods such as ejiao.

Major African economies such as Kenya and South Africa are upscaling their facilities to meet the demand from China, and a black market is also flourishing across the continent.

Hong Kong’s Controversial Chairman Mao Opera With an increase in power and control from Beijing, the changes are beginning to show in Hong Kong.

Arriving to the stage in early October is the first Chinese opera focusing on the secret life of Mao Zedong. Written and directed

by Li Kui-Ming, the Opera is stirring controversy amongst Hong Kong locals, with some suspecting the opera of having political motives. Li has told the BBC that he did not wish to portray Mao as simply a good or evil person, and that the audience had the freedom to evaluate Mao for themselves.

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// CHINA CULTURE

CHINA CULTURE //

Beijing Opera Adapts Shakespeare

From September 11th to 17th, Shanghai Theatre Academy played host to veteran performers from over ten different theatre troupes from mainland China in a celebration of the 400th anniversary of William Shakespeare’s death.

During their time in Shanghai, the renowned Beijing Opera performed two of their own original operatic adaptations of Shakespeare’s work: ‘The Taming of the Shrew’, and modern drama ‘Hamlet in Shanghai Alley’.

Building Bridges Through Language:

China to India Several years ago, Li Yalan broke boundaries and defied expectations by becoming the first Chinese citizen to be admitted to the Mahatma Gandhi International Hindi University.

As she prepared to leave for India for the first time, after obtaining a Master’s in Indian Language and Literature from Peking University, Li was warned to brace for the “poor conditions” in India, but these warnings proved to be needless. “My

neighbors didn’t treat me like an alien, partly because I could speak Hindi. They sought to share their everyday life with me. That reminded me of my home,” she said.

Zhang Shaohua, Wang’s classmate, works in Beijing as the editor of the Hindi version of News

Republic, a multilingual news app.

Zhang’s interest in journalism was ignited during his stint at the Central Institute of Hindi.

“Stereotypes prevent people from understanding one another,” Zhang has said, “Language can help bring barriers down.”

Happy 2,567th Birthday, Confucius Confucius, a philosopher and educator of culture, conduct, loyalty, and honesty, was born in the small city of Qufu, Shandong Province, in 551 BC. To mark the celebration of his birth, performers and audiences gathered at the Confucius temple in Qufu where they held ceremonies and performances in traditional Chinese costume. Many other cities in China also joined in the celebration.

The Rise and Rise of Science Fiction The Nebula award for science fiction writing is a prestigious award, and for the first time it has this year been awarded to Chinese writer Jiang Bo for the third and final instalment in his space opera trilogy Heart of the Milky Way. “I’ve been writing sci-fi for 13 years,” the 38-yearold said in his acceptance speech, holding his trophy with a trembling hand. “I call myself a tortoise, like the one in the tale of the tortoise and the hare. It took me a long time to get to where I am now.”

The Chinese sci-fi industry is a small one, but with this award – and with a potential film adaptation possibly in the works, courtesy of

Wanda Group – Jiang Bo is demonstrating the ongoing rise in popularity of Chinese science fiction writing.

“Chinese sci-fi writers can present China’s history and values through their works.

Foreigners can get a glimpse of how Chinese people think and how we live our lives,” explained Wu Yan, President of the World Chinese Science Fiction Association and Director of Beijing Normal University’s Research Center for Science Fiction and

Creative Education.

“Chinese sci-fi should explore the global market and vice versa,” Wu added. “I think more Chinese works will be translated into English and other languages.”

“Chinese sci-fi should explore the global market and vice versa” In March 2016, the General Office of the State Council released an action plan for science literacy in China. It stated that the government will be implementing policies to support the development of sci-fi, animation, and video games.

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// LOCAL NEWS

LOCAL NEWS //

Arthur Miller’s masterpiece of class and family struggle in 20th Century Brooklyn comes to Bristol.

From 8th to 12th November, at the Alma Tavern & Theatre in Clifton, one of genius playwright Arthur Miller’s great works will be performed. The story of Eddie Carbone: longshoreman, family man, and epitome of American working class. A View from the Bridge explores Eddie’s crooked and misguided relationships with his wife and his adopted niece, and the battle that wages inside him, between loyalty and jealousy.

Tickets are £12 a head and doors open at 7pm. Do not pass up the chance to see Arthur Miller’s masterful depiction of the darker, seedier side of both New York City, and of the human soul.

Broadmead Redevelopment to be Complete by 2022 The design and building of Cabot Circus at the heart of Bristol was a massive undertaking, and the result was an aesthetically impressive, and hugely popular, success. Cabot has become something that Bristol is famous for. And now, to combat the scope of Cabot, is the redevelopment of Broadmead, which had a scheduled completion date of 2022.

Bristol Alliance, who own both Broadmead and Cabot Circus, have said that the redesigned area will provide a more family-friendly and modern shopping experience.

Building on this, the architecture firm in charge of the

Bristol’s UWE Hosts a Driverless Car Test Run Embracing science fiction and forging it into science fact is the stuff of dreams, and in a world where the pace of technological advancement is only quickening, these dreams are coming true delightfully more often. The next of these forgings is the driverless car, soon to be a common sight on the streets of Bristol.

The British government has “Autonomous backed a project by the vehicles are going University of the West of to be a global England to carry out a phenomenon” series of test trials for the future of automobiles, focussing specifically on the ‘handover’: the switch of control from driver to the car’s autopilot.

Tony Meehan, who has been a part of the project, told

redesign, FaulknerBrowns, have stressed that public opinion will aid in shaping the final outcome of the project.

“It is a fantastic opportunity for Bristol in terms of the redevelopment of this part of the city, and we really

the Bristol Post: “Autonomous vehicles are going to be a global phenomenon and it’s absolutely critical that the UK and the West of England economy are able to benefit from this new global industry.

“Developing the technology and the skills needed to introduce something as radical as autonomous vehicles is crucial, but being at the forefront of this huge challenge is also about regulation, insurance, safety and maximising the benefits of autonomous vehicles.

“This project is trying to plug the gap between technology, the road network and the user.”

He added: “The research is looking at how users interact with an as yet unknown piece of kit - how they react when confronted with different situations and when confronted with a piece of kit that looks and feels very familiar but is really radically different.”

do want to hear what people want to see in this space and how they want it to look,” Paul Rigby, partner at FaulknerBrowns, told the Bristol Post.

Festival of Leadership to be Hosted in Bristol With a view to promoting learning about leadership for individuals, groups, organisations, partnerships and communities, Bristol’s own UWE and the Leadership Centre have come together to collaborate on the Festival of Leadership, which promises to be rather unique and incredibly special.

With Bristol’s mayor, Marvin Rees, as a key speaker, the

festival will take place in several Harborside venues:

M Shed, Watershed, and Energy Hub. At these venues will be found a range of keynote talks, discussions and interactive workshops on the topics of ‘innovation’, ‘resilience’, and ‘people, place & politics’.

The festival’s confirmed list of speakers so far is looking quite spectacular: Founder of Riverford Guy Watson; public speaker,

author and founder of Embercombe Tim ‘Mac’ Macartney; founder of 91 Ways to Build a Global City and chair of trustees at Frank Water, Kalpna Woolf; chief transformation officer, Horizons Group, NHS England, Helen Bevan; senior lecturer in public policy, Harvard University, Marshall Ganz; and, as mentioned, Mayor of Bristol Marvin Rees.

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// LOCAL NEWS

LOCAL NEWS //

Bath’s Generosity to Christmas Fanatics

sticks&broth

For those of us who start their Christmas countdown at the drop of the first autumn leaf, or those who hate Halloween and fireworks and wish to skip to the end-of-year finale, Bath has and kindly hung its Christmas lights in mid-October.

Baldwin Street is home to some of Bristol’s most enticing restaurants, one of which is the fantastic Japanese ramen bar: Sticks & Broth.

The first thing to grab you upon entering will undoubtedly be the restaurants charming insistence on keeping its English to katakana ration equal. From the pages of the menu to the scrawling on the walls, katakana (one of Japan’s three alphabets, and the one used specifically for the English words which Japan has adopted into its culture) is everywhere. The charm of it is undeniable, and while it certainly serves to add a taste of authenticity to the ramen bar, it also does the

The sight of Christmas-themed foods and Christmas calendars on supermarket shelves in October is, sadly, no longer a rarity. But most UK towns would not be so daring as to display its lights before at least November rolls around. Bath, however, is not most UK towns, with Argyle Street and Union Street proudly displaying their lights. Citizens are now waiting for Christmas with so much bated breath that they are in serious danger of passing out long before the holiday season rolls around.

simplest thing of drawing a smile across the faces of its customers; a kind of ‘I see what you’ve done here, and I like it’ grin.

The selection of food on offer is as close to authentic Japanese as can be found in Bristol. With the exception of the (still excellent) Tokyo Burger, Sticks & Broth offers a wonderful range of ramen, yakitori, tempura, and donburi dishes. Most enticing of all is the ramen and donburi lunch menu (£6.50, 12-4pm), which offers a range of

Music: Simple Things Festival meaty and veggie soup and rice dishes as well as, by the grace of Amaterasu, the mouthwatering Tokyo burger.

To compliment these dishes is a selection of refreshing Japanese beers, including

the famous Asahi brand and a range of Hitachino ales.

Sticks & Broth promises, “It’s a journey that we create for you to experience in Bristol for Bristol,” and we are very glad that we have.

Redcliffe Caves Horror Binge classic horror film screenings, from Friday 28th to Sunday 30th.

On October 22nd and 23rd, several of Bristol’s best venues will play host to a wide range of incredible musical acts, including legendary horror movie composer and director, John Carpenter.

Headlining the Simple Things Festival at Bristol’s Colston Hall, John Carpenter is the composer of such iconic sci-fi and horror movie soundtracks as The Thing, Halloween, and Escape From New York.

Supporting Carpenter over the two-day festival will be the likes of Kano, Warpaint, Death Grips, and Nina Kraviz.

Simple Things promises to be a unique festival experience, with its eclectic mix of live soundtracks, folk and electronic music.

Bristol Film Festival has selected the perfect setting: dark, cold, and creepy caverns. And in these caverns will be shown an impressive twelve horror films over the three days of Halloween weekend, from Friday The 13th at 6pm on Friday to The Exorcist at 8pm on Sunday.

Halloween is a holiday that allows free reign on festivities. The options every year are plentiful, from themed club nights and pub crawls to movie nights with friends.

This year, Redcliffe Caves is playing on 2016’s love of binge-watching by hosting three days of endless

One twist in this tale is the screening of 1978 film The Medusa Touch at Bristol Cathedral, the very location at which it was filmed.

Each film screening has a ticket price of £18, with the chilling experience of The Medusa Touch costing only £12. Choose your favourite, and head to Redcliffe Caves for a cinematic experience like no other.

North Bristol Office Park Popularity Soars One lone vacant building remains to be let at Vantage, a North Bristol office park after three units were taken in quick succession.

The three units were snatched up by Oasis, an existing tenant of the park whose success and rapid expansion meant they needed to expand their offices to accommodate their IT team; the Salvation Army, who agreed to a five-year lease; and Rock Solid Knowledge, a software development company established in 2009.

Other occupiers of the park, owned by Summerfield Developments, include the NHS, Edge Tax, building services firm Whitehead and construction group Vinci.

With its third successful year achieving the ‘Best Overall Small Firm’ title, Whitechurch Securities adds this achievement to its list of recent accolades.

Launched in 1990, Whitechurch has become one of the UK’s most highly regarded wealth management boutiques.

Wins Coveted Business Award Three Years in a Row

The firm accepted the award at the Citywire Wealth Manager Investment Performance Awards.

“We continually pursue excellence in all our operations and we are delighted with the recognition we have received, particularly over the past three years.

It demonstrates our ability to produce consistently strong solutions for financial advisers and their clients,” said Gavin Haynes, Whitechurch Securities MD.

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The New Chair of Bristol Green Capital Partnership

Mohammed Saddiq, innovator and creative mind behind Bristol’s human-wastepowered bus, has been appointed chair of Bristol Green Capital Partnership from October onwards.

Saddiq has drawn much well-deserved attention when his company, GENeco, launched a bus which ran on bio methane produced at Bristol’s sewage treatment plant. With 2015 being Bristol’s year as European Green Capital, the ‘poo-bus’ brought Saddiq large amounts of praise, leading him to his new position.

UWE professor Jim Longhurst, outgoing chair of the partnership, said about Saddiq: “I am very pleased that Mohammed has accepted the board’s invitation to become Bristol Green Capital Partnership’s first independent chair.

“I join my fellow directors and our executive team in congratulating him. We look forward to Mohammed joining us, an important step forward in our organisation’s development as we work to realise a sustainable city-region for all.”

National Living Wage to be hit

by Brexit Vote

LOCAL NEWS //

office

Increasing space to let Demand for Bristol Office Space New figures have been released for the third quarter of this year, showing that 2016’s total office space take-up has already been exceeded.

Property consultancy JLL says take-up of city centre office space is now at 515,000 sq ft for the year to date compared with a total of 490,000 sq ft in 2015.

The director of JLL’s Bristol office, Hannah Waterhouse, told the Bristol Post: “The fundamentals of the office market, namely diminishing supply and high demand from a wide range of occupiers, are standing the city “…good reason in good stead despite to feel optimistic political and at this stage” economic uncertainty.

“It’s encouraging to see that the EU referendum hasn’t yet affected occupier demand. There are several significant deals under offer which could make the final quarter of 2016 one of the strongest we have seen for several years and so there is good reason to feel optimistic at this stage.”

Research by the Resolution Foundation has found that weak pay growth in the wake of the vote to leave the EU may lower the expected increase to the National Living Wage by 10p, to £7.50 an hour, by next year.

Policy analyst at Resolution Foundation, Stephen Clarke, told the BBC’s Today programme: “The National Living Wage relates to average earnings and because of Brexit, many forecasters, including the Bank of England, revised down their earnings growth; therefore the National Living Wage has also been revised down.”

Lord Mayor of London Visits ‘Powerhouse City’ of Bristol The Lord Mayor of London, Lord Mountevans, visited Bristol to observe and examine what makes the city the most successful business hub, and the best performing economic centre outside of London.

Originally and historically a maritime trading city, Bristol has undergone a series of incredible transformations over the past quarter century which have eventually led it to be awarded the best performing and most

livable city in Britain.

Bristol’s financial and professional services sector is responsible for an economic output in excess of £4 billion annually, and employs more than 52,000 people in the city.

Bristol is also a fast developing location for

green finance, cyber security and innovation in technology and financial services.

Lord Mountevans had this to say during his visit to the city: “Growing Bristol’s professional and financial sector will

be vital in facilitating strong economic growth for the region and across the UK. It is important for us at the City of London to continue to work very closely with the regions to drive future growth and job creation.”

Hargreaves Lansdown Staff Raise over £24k for St Peter’s Hospice A total of £24,665 was raised for St Peter’s Hospice by staff at Bristol-based financial services giant Hargreaves Lansdown. Caroline Booth, of St Peter’s Hospice, said the charity was overwhelmed by the company’s support.

CEO Ian Gorham told the Bristol Post: “We decided many years ago that we should support charities which are close to our colleagues’ hearts. Personal connections make a real difference and, of course, it is them who do the majority of the fund raising and volunteering.

The success of the charity of the year scheme has led us to launch our own Hargreaves Lansdown Charitable Foundation which will be the focus of our efforts from here on in. We aim to do more good for more good causes.”

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// TAX TIPS

PROPERTY //

Does Auto Enrolment apply to my staff?

Q: A:

Claire’s Corner

I employ all part-time staff and as a result, they do not earn very much over the course of a tax year. Could you tell me if I am likely to have anything to do for these new Workplace Pension rules please?

Under the new Workplace Pensions rules, all employers have ‘duties’ towards all of their staff who are: working or ordinarily working in the UK aged between 16 and 74; and who ork under a contract of employment (i.e. w an ‘employee’); or ave a contract to perform work h or services personally and are not undertaking the work as part of their own business ‘Eligible workers’ are aged between 22 and state pension age, and earn over £192 a week (2016/17. If you have staff that meet the definition of an eligible worker, they must be put into a workplace pension scheme and you must pay regular pension contributions for them. You don’t need to ask their permission and therefore we refer to them being ‘automatically enrolled’ into the pension scheme.

If you have no staff to automatically enroll, there is no need to set up a pension scheme

Claire Cooper T: 0117 967 3341 E: clairecooper@taxassist.co.uk W: taxassist.co.uk/kingswood 2A Hill Street, Kingswood Bristol BS15 4EP

Got spare space on your driveway?

You could be making more than £1,300 extra a month! www.yourparkingspace.co.uk

immediately. However, while your staff may not be eligible for automatic enrolment, they can still ask to go into a pension scheme.

If they do this, your responsibilities will depend on how much they earn: I f they more than £112 a week (2016/17) they are a so-called ‘non-eligible jobholder’. You must make contributions to the scheme as well.

I f they earn less than this, they are an ‘entitled worker’ and you may choose whether you wish to contribute or not.

Failure to comply with the Workplace Pensions rules can lead to a fixed penalty of £400 plus escalating penalties starting from £50 per day. Your local TaxAssist Accountant can help you ensure your business is compliant. Please contact us for more information.

But if it is possible, it’s worth estimating the figures once you’ve found some cars or vans that you might be interested in. Your local TaxAssist Accountant would be happy to review this for you.

Outside London, Bristol is the most indemand city for parking spaces. This is according to YourParkingSpace.co.uk, which advertises private parking spaces for rent nation-wide.

It says demand for parking spaces is at an all-time high, with the most popular locations in cities including Bristol, Leeds, Manchester and Brighton snapped up within minutes of being listed.

“The sharing economy is revolutionising the parking business and we’re seeing more and more drivers choosing to park this way,” says the company’s MD, Harrison Woods.

“Renting a driveway, garage or parking space is simple to do and is an excellent opportunity for home and business owners to make some extra income.”

“If your home is in a central location or close to a local amenity such as a train station, sporting venue, university or airport, it’s likely to be in highest demand, but there’s still potential to rent your space and make money in all parts of the UK.” Mr Woods said that property owners in Manchester earn as much as £1,492 a year by renting out their spare space, while residents in Brighton, Leeds and Bristol are pocketing an average of £1,300 a year.

Source: Bristol Post

Largest Industrial Development for 20 Years

Construction has commenced on 580,000 square feet of industrial space in the Bristol Area, which marks it the biggest development in the city for over 20 years.

The company representing the first part of a 1m sq foot, which will be a mixed use development called Horizon 38. The business park costing £120 million is set to rise at the previously occupied Rolls-Royce works site in Filton, North Bristol.

The St Francis Group and iSec have given confirmation of the ground works ahead of schedule and the beginning of the construction.

The first phase of the new distribution and industrial unit are expected to be ready and available for use and occupation by next July, with another three phases after the first phase.

Horizon 38 is the landmark strategic development site, which based on the A38 in Filton. It is between the Filton Enterprise Area which is the biggest and significant regeneration project the South West of England and is only 3 miles away from the city centre and less than 2 miles away from the M5.

Also, a 25 acre commercial park is being developed via a Village Urban Resorts hotel along with a number a show rooms for cars, self storage and other trades for users.

Source: Bristol Post

The Brexit Effect on House Prices

referendum affects the property market.

The decision to leave the EU with London has been eclipsed already, with this happening the remainder of the country may see the cost of housing falls.

Bristol prices have gone up by 14.1% yearly which puts it on top of the index page that shows growth annually throughout the UK and it’s main cities and town. This prediction was made by

The yearly growth of house prices with quickly go down to the lower singular numbers through the major cities and towns in the United Kingdom as the latest report has predicted how the EU

Hometrack which analyses property at the newest Index for house prices showed that as of may, the city of Bristol is the first ever city that is out of the south east to have rises in prices that are faster than London for more than 6 years.

Source: Mirror

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// INVESTMENT TIPS

23 Action Indoor Sports

4 Top Tips on How the Rich Grow Their Money

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lthy ng more, the wea Instead of spendi . t of their money tend to save mos C earchers from U According to res ve in the top 1% sa Berkeley, those those eir salary while almost 40% of th their 10% save 12% of in the top 1% to on is l recommendati salary. A genera % and save between 10 that you should your me to maintain 15% of your inco in retirement. current lifestyle

Don’t rely solely on your day job for income. Wealthy folks often have different ways of earning money, whether it’s from rental properties or side businesses . Earning more m on ey allows you to so ck more away in your nest egg.

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their stock in n w o s eep a any CEO end to k s you t m o e ls il a h h W ric n allow ies, the llocatio a r ns of e compan p o . Pr nd dow s a d n s u p f u f mix o come and the h and in t r withst e w t o t r e g b to ix of ded. ket. A m ommen c e r y the mar ll a s is usu Merton securitie nomist o c e e ation t a iversific el Laure ‘d , b y o a N s s o can t “A ht, you ys liked ig a r lw e a n r o lio d Mille r portfo u y.’ When o d y d u f b o r is you rall risk turn. the ove e s a ected re old and e p r x e dec g in buy, h sacrific should s r without o rtfolio t s e ll inv ified po s a r t e s o iv d Alm bally tches ce a glo erly ma p o r p rk t rebalan a says Ma funds th ,” x k e is d r in e of o tak Index pacity t sident, e r p d their ca n a f. founder ine, Cali v r I .

Hebner, c n I visors, Fund Ad

They have several sources of income

Fantasia Toy shop at The Arcade in Bristol Shopping.

Unit 21-22, The Arcade Broadmead Bristol BS1 3JD T: 0117 3295080 E: info@fantasiabyxmont.com www.fantasiabyxmont.com

Heartfelt Vintage Vintage shop and tea room.

32 Alma Vale Road Bristol BS8 2HY T: 0117 904 2898 E: heartfeltvintageltd@gmail.com www.heartfeltvintage.co.uk

They live frugally

Many millionaires drive around in used cars and spend mone y carefully. Warren Buffett famously lives in the same house he bought more than 50 years ago. Instead of upgrad ing your car or house every time you get a raise, keep your living standards modest.

“I have met many peop le in my career who live far below their means. Whether you are wealthy or no t, if you live below your means, you will be able to save up a sizable amount in order to have the retirement you wa nt,” says Kirk Chisholm, wealth mana ger and principal at Innovativ e Advisory Group, Lexington, Mass.

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They diversify portfolio their own

Indoor venue for boxing and other sports.

Mashed Productions 236 New Cheltenham Road Bristol BS15 4RN T: 0117 903 1434 E: ray@mashedproductions.com www.actionsportuk.co.uk

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They save more than average

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Source: Investopedia

Kings & Queens Impeccable Independent Hairdressing on Harbourside.

Kiosk 1 Invicta Millennium Promenade Bristol BS1 5SY T: 0117 929 8849 E: kingsqueenshair@gmail.com www.kingsandqueensbristol.com

Lido Bristol Clifton Lido - swimming pool and massage spa. One of the oldest Lidos in the UK. Oakfield Place, Clifton Bristol BS8 2BJ T: 0117 933 9530 E: spa@lidobristol.com www.lidobristol.com/spa/welcome

Bloc Climbing

Central Studio

Bristol’s largest bouldering centre.

Unit 2, New Gatton Road Bristol BS2 9SH T: 0117 955 8508 E: info@blocclimbing.co.uk www.blocclimbing.co.uk

An award-winning hair studio in the heart of Bristol Lifestyle.

Queen Charlotte Street Bristol BS1 4EX T: 0117 929 0120 E: centralcharlotte@aol.com www.central-studio.co.uk

FareRide Taxis

Flingers Party World

Low cost and Reliable. Parties, accounts and businesses welcome, long or local journeys. Executive or Regular.

36a Gloucester Road Bishopston, Bristol BS7 8AR T: 0117 3252 555 E: Hello@fareride.co.uk www.fareride.co.uk

Bristol’s Party Superstore Events & Entertainment.

Building 11 Millennium Promenade Harbourside, Bristol BS1 5SZ T: 0117 2444 544 E: info@flingerspartyworld.co.uk www.flingerspartyworld.co.uk

Hengrove Park Leisure Centre

JMI Bathrooms & Kitchens

Modern exercise facility with gym, dance studio and two swimming pools.

Hengrove Promenade Bristol BS14 0DE T: 0117 937 0200 E: hengroveinfo@parkwood-leisure.co.uk www.leisurecentre.com/ hengrove-park-leisure-centre

Friendly, family run business with over 30 years experience in design and installation.

52 Bristol Hill, Brislington Bristol BS4 5AB T: 0117 972 0171 E: info@jmibathrooms.co.uk www.jmibathrooms.co.uk

Kondi Brasserie

Lakota

Authentic Italian Cuisine and Superb Coffee in Henleaze.

105 Henleaze Road Bristol BS9 4JP T: 0117 962 8230 E: hello@kondibrasserie.co.uk www.kondibrasserie.co.uk

Mack Daddys Hair Unisex hair studio in Bristol.

235 North Street Bristol BS3 1JJ T: 0117 953 2970 E: seanhomes@me.com www.mackdaddys.org

Dolly What Not Vintage clothes and handmade goods in The Arcade, Bristol Shopping.

Unit 14, The Arcade Broadmead Bristol BS1 3JD E: sarahandmike@dollywhatnot.co.uk www.dollywhatnot.co.uk

Hatcher Flooring The floor is your fifth wall.

Flooring Business.

2 Withleigh Road Knowle, Bristol BS4 2LQ T: 07976 841740 E: matthew.hatcher@sky.com www.hatcherflooring.co.uk

JT Paving & Driveways Expert Craftsmanship.

Fairway, Brislington Bristol BS4 5DF T: 07770 303 827 E: jont271@hotmail.co.uk www.jtpaving.co.uk

Legends Gym

Legendary Bristol nightclub, Bar & Nightlife.

6 Upper York Street Bristol BS2 8QN T: 0117 923 2225 E: info@lakota.co.uk www.lakota.co.uk

‘Old School’ Weightlifting Gym in Bishopsworth.

5 The Parade Bristol BS13 8JS T: 0117 946 5352 E: sebdymond@icloud.com www.legends-gym.co.uk

Murrays Home Lettings

Objets de Desir Beautiful Boutique

South Bristol lettings agents.

81 Sandy Park Rd Brislington Bristol BS4 3PG T: 0117 971 0244 E: info@murrayslettings.co.uk www.murrayslettings.co.uk

Beautiful handmade designer jewelry, fashion, homeware and art.

5 Boyces Avenue, Clifton Village Bristol BS8 4AA T: 07983 722306 E: racheldrake@objetsdedesir.com www.objetsdedesir.com

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