CER April 2013

APRIL 2013 VOL. 24, NO. 4 | www.chinaeconomicreview.com

2013年4月刊

Illustrator：Twoqee

Looking for a green future 寻找绿色能源

FOCUS: COMMERCIAL REAL ESTATE

电动汽车再发力 徒步穿越中国 医改突破口

EDITOR'S NOTE | 编者的话 APRIL 2013 VOL. 24, NO. 4 | www.chinaeconomicreview.com

2013年4月刊

继

CPI、GDP之后，PM2.5成为城市居民耳熟能详的流行词。本 期封面故事直击城市空气污染问题。今年1月至今，众多大城市

Looking for a green future 寻找绿色能源

连续笼罩在有毒雾霾中，而以北京、上海等发达城市为甚。罪魁祸首就 是煤炭、汽油等化石能源所形成的排放。毒雾之祸使更多人幡然省悟， 发展清洁能源和环保产业已迫在眉睫。在节能理念的推广和政策的引导 下，新能源需求逐步扩大，其中蕴藏着巨大的商机。纵然目前障碍重 重，前景却不可限量。 德国经济增长在欧盟首屈一指，奥秘在于独特的经济体系和良好 的产业政策。其经济模式被称为“社会市场经济”，也即在推行自由市

Illustrator：Twoqee

FOCUS: COMMERCIAL REAL ESTATE

电动汽车再发力 徒步穿越中国 医改突破口

场经济的同时，施以必要的限制和监管，以降低社会动荡的风险。清华 大学教授李稻葵推崇为“非常重要的借鉴模式”。提升能源资源税，抑 制住房投机，劳资团结协作，推行职业教育，力撑实体经济，集聚优势 产业，从严监管金融，均是可资借镜者。 环境恶化的根本在于社会经济发展片面追求效率，无所不用其

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T

his issue of China Economic Review explores China’s energy issues, including the growing need to find solutions to problems created by energy production - the search of green energy, and the problems that it in turn creates. One angle is the electric auto, which we conclude may not be the answer to China’s road woes. We look at the efforts to streamline China’s government administration structure. China arguably invented bureaucracy, and it shows, and some of the environmental issues that are raising awareness, concerns and tempers.

We examine the impact of the collapse of the high profile solar panel maker Suntech, yet another US-listed China company with problems and the alleged threat that Android’s successes in the smartphone field pose for China’s tech industry players.

This month’s Spotlight visits Finland, a country rich in both resources and potential, and its growing R&D ties with China.

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April 2013

观点 新国五条将对二手住宅市场产生重大影响

REPORT KNIGHT FRANK POINTS TOWARD THE BEST COMMERCIAL REAL ESTATE INVESTMENTS AROUND THE WORLD

COMMERCIAL REAL ESTATE 商业地产

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Reaching capacity 极速膨胀 Commercial real estate surges on a residential cool off 如火如荼的商业地产

目录 CONTENT

8

18

32

封面故事 寻找绿色能源

Report

新观察

09 China’s antitrust hangover

08 别无选择

16 Cutting through the red tape 22 When pigs float

10 聚焦

66 These are the droids you’re

专栏

looking for

20

14 德国模式启示录

68 Watchful eye

Month in Review

18 社会市场经济

12 Newsbriefs

20 医改突破口

Cover Story 市场

38 For a limited time only

26 问道西部商业 31 大慈寺项目

42 Belly up

48

46 Batteries not included

April 2013

05

目录 CONTENTS

22

40

38

Cover Story Looking for a green future Will China turn from wind and solar energy back to nuclear?

Spotlight Finland

封面故事 33 新能源崛起

54 F inland – Nordic exporter of

44 电动汽车再发力 48 环保产业迎来黄金期

clean tech and ICT 62 The competitive cold front

焦点 芬兰 50 午夜阳光之国

焦点 芬兰：人物访谈

66

60 冷酷的竞争

Interview 64 The future of private equity

看中国 Looking at China

70 面子

71 The Female Triad

话题 72“房奴”欧阳修

Travel Journal 生活·晏子西游记 74 云雾谷

06

April 2013

68

75 Flowers and mist

新观察

别无选择 在政府干预和自由放任之外是否还有其他的可能 文 | 华章 府干预和自由放任思想的两位奠

政

哈耶克是个一丝不苟的逻辑家，他顽强地

2008年9月，华尔街出现了另一轮崩

定者凯恩斯和哈耶克分别通过

逆流而上，在市场倡导者和自由意志者中

溃，新一场世界金融危机爆发。美国总统

《通论》和《通往奴役之路》两部巨著，

找到了支持。

乔治·布什表面上支持哈耶克自由市场神

隔着一道巨大的深渊，凝视着彼此。这道

20世纪30年代的大部分时间里，他

圣不可侵犯的观点，实际上却要面临一个

深渊，拉开了我们这个时代最轰轰烈烈的

们都在争论未来的经济走向。分歧之处包

严峻的抉择：要么静观其变，哪怕市场要

经济学之战：政府是否应当干预市场。

括政府本身的角色、政府干预经济对个体

经历一场可跟80多年前相匹敌的大萧条，

两人同时从第一次世界大战的废墟之

自由的威胁等。这场辩论逐渐升级，甚至

也坐视不理、袖手旁观，等它自个儿消停

上研究商业繁荣和萧条的周期，却得出了

蒙上了宗教世仇的气息。1929年股市崩盘

下来；要么，迅速采纳凯恩斯的补救措

截然不同的结论。哈耶克认为，改变经济

引发经济大萧条后，就如何帮助糟糕的世

施，用政府借来的几万亿美元拯救岌岌可

的“自然平衡”会导致严重的通货膨胀。

界经济恢复健康一事，两人给出了南辕北

危的经济，以免造成更大的损害。一想到

凯恩斯认为，标志着一个周期结束的大规

辙的意见。

纵容自由市场不断恶化会带来怎样触目惊

模失业和困难，可以靠政府开支来缓和。 终其余生，两人始终无法认同对方观点。

第二次世界大战期间，尽管凯恩斯和

心的前景，乔治·布什来不及多做考虑，

哈耶克曾经共同对抗法西斯敌人，却始终

就放弃了哈耶克，投入了凯恩斯的怀抱。

二十多年中，两人通过信件辩论，通

不能达成共识。到了最后，他们对彼此的

新上任的美国总统奥巴马督导了新一轮的

过公开发表的文章辩论，通过激烈的私下

分歧已经能够做到泰然处之，可即便两人

大规模举债，把借来的钱注入经济。但刺

对话辩论，最终又通过他们热心的弟子加

故去多年，他们各自狂热的信徒仍然继续

激资金还没完全花出去，茶党运动就发起

尔布雷思和米尔顿·弗里德曼代为辩论。

论战。

了暴力抗议，反对前所未有的公共债务水

凯恩斯口才和魅力过人，对世界持有

从富兰克林·罗斯福到乔治·布什等

平，要求政府改弦更张。2008年10月，茶

一种乐观的愿景：政府计划和管控能撑起

数代政治家，在两位学者的想法之间摇摆

党支持者萨拉·帕尔斥责财政部长亨利·

经济。这一观点很快为大西洋两岸整整一

不定。最终，这场争辩影响了数百万人的

保尔森：“听好了，美国人民不喜欢政府

代政治家和经济学家所接受。与此相反，

生命和生计。

到处紧急援助。”政治评论员格伦·贝克 恳请美国人民重读哈耶克于1944年出版的 《通往奴役之路》，这重振了哈耶克的声 望，早已遭人遗忘的奥地利人登上了畅销 书排行榜榜首。凯恩斯过时了，哈耶克当 红了。 从大萧条到第二次世界大战，从战后 恢复到当前，《凯恩斯大战哈耶克》一书 详细梳理了20世纪两位经济学巨人之间的 论战。他们的不同愿景影响了世界经济的 起起落落，迄今仍牢牢掌控着它的走向。 究竟是自由市场好还是政府干预好？ 各方观点争论激烈，毫不逊色于20世纪30 年代。那么，到底谁是正确的？是凯恩斯 还是哈耶克？80年来，这个问题将经济学 家和政治家划为两大阵营。时至今日，两 位杰出学者之间鲜明的立场差异，仍然是 自由主义和保守主义思想之间难以跨越的

究竟是自由市场好还是政府干预好

08

April 2013

鸿沟。

OP-ED

China’s antitrust hangover What record antitrust fines slapped on Chinese liquor producers mean for companies operating in China

By Adrian Emch, partner at international law firm Hogan Lovells in Beijing

T

he National Development and Reform Commission has once again shown that it is an antitrust enforcer to be reckoned with.

Less than two months after it imposed record fines on several foreign LCD panel makers, two of NDRC’s local offices broke new ground by imposing stiff sanctions on two leading Chinese traditional alcohol makers that the agency ruled had unfairly prevented distributors from granting discounts on their products.

On February 22, local offices of the NDRC in Guizhou and Sichuan announced they would fine baijiu maker Maotai roughly US$40 million (RMB247 million) and its rival Wuliangye around US$32 million (RMB202 million). The combined fines imposed on the liquor companies set yet a new record for antitrust violation penalties in China. Another significant feature of this case is that the two offenders are iconic national brands in the baijiu industry.

Unlike in the LCD panel case, which was handled at the national level, the investigation into the baijiu antitrust offenses were driven by the Guizhou Price Bureau and the Sichuan Development and Reform Commission (Sichuan DRC). The Guizhou Price Bureau published a one-paragraph announcement with only bare bones details on the case. The statement says that starting in 2012 Maotai had agreements with its distributors to set mini-

mum resale prices for its liquor products and penalized distributors selling below those prices.

The announcement barely contains any legal reasoning. It simply notes that Maotai’s resale price arrangement restricted competition in the marketplace and harmed the interests of consumers, but does not explain how such a finding was reached or the evidence on which the finding was based.

By contrast, the Sichuan DRC press release contains far more detail on Wuliangye’s unlawful acts and analyzes the purported anti-competitive effects of the pricing agreements between the baijiu maker and its distributors. The release states that Wuliangye entered into minimum price agreements with over 3,200 distributors.

According to the Sichuan authority, Wuliangye punished disobedient distributors by curtailing its business dealings with them and reducing the level of financial incentives such as rebates given to “non-compliant” distributors. For instance, in 2011, Wuliangye stopped supplying to a large supermarket chain store in Sichuan, forcing the store to commit to not selling Wuliangye products at below the agreed minimum price. As another example, the Sichuan DRC found that in 2012 the company penalized 14 distributors nationwide for their “low sale prices.”

The press release further discusses the alleged anti-competitive effects of Wuliangye’s minimum pricing policy.

The decisions against Maotai and Wuliangye are significant because they set a new record for antitrust fines in China. Nonetheless, due to the lack of detailed reasoning, the press releases do not provide much helpful guidance for the business community when assessing what constitutes illegal price restraints going forward.

In short, it’s unclear when pricing practices cross the line into antitrust territory. Although the press release in the Wuliangye case mentions the company’s “strong market position” and “important position” in the market, it does not use the word “dominance” or point to a specific market share level as reference.

In fact, the press release does not even explicitly state that the supplier’s market position was a key factor in assessing the legality of the pricing arrangements.

This contrasts with the judgment by the Shanghai intermediate court in a Johnson & Johnson case in 2012 which put forward a few benchmarks, namely: the supplier’s market share, the extent of upstream and downstream competition and the impact of minimum pricing practices on the quantity and price of the products in the marketplace.

The Johnson & Johnson case is being appealed now, and market participants are looking to the final outcome for further guidance. In the meantime, companies may wish to “play safe” and take a hard look at their distribution agreements and the context of their distribution structure.

April 2013

09

聚焦

热点 习近平出访俄罗斯和非洲 俄罗斯成为习近平就任国家主席后出访的 第一个国家。3月22日至30日，他对俄罗 斯、坦桑尼亚、南非和刚果（布）进行国 事访问。出访9天时间，出席66场活动， 会晤32位外国政要。

金砖五国建开发银行 金砖国家成员国领导人决定，建立金砖国 家开发银行并筹备建立外汇储备库。未来5 年将投资4.5万亿美元，用于五国和其他发 展中国家的基础设施建设和可持续发展。

发展家庭农场支撑新型城镇化

上海闵行房产交易中心，办理过户手续的市民展示房地产权证

国务院总理李克强履新后第一次离京考察 选择了江苏和上海。他在江苏常熟考察时

设立“楼市有风险，离婚需谨慎”大幅公

无锡尚德破产重整

表示，通过股份合作、家庭农场、专业合

告警示牌，提醒人们不要为规避政策而假

无锡尚德被法院裁定实施破产重整，接盘

作等多种形式发展现代农业是大方向，会

离婚。

者有可能是无锡市政府下属的无锡国联集

对新型城镇化形成有力支撑。据悉，上海

团。截至2月底，包括工行、农行、中行等

松江、湖北武汉、吉林延边、浙江宁波和

死猪事件与砷含量超标

在内的9家债权银行对无锡尚德的本外币授

安徽郎溪等地也在培育家庭农场。

今年3月上海黄浦江松江段水域大量漂浮死

信余额折合人民币已达到71亿元。无锡尚

猪，已确定主要来自浙江嘉兴。而死猪所

德是在纽交所上市的尚德电力公司旗下规

美国禁部分政府部门购中国IT

带来的重金属污染特别是砷污染，尤其引

模最大的生产基地，也是全球四大光伏企

美国国会禁止国家航空航天局（NASA）、

人关注。据农业部办公厅通报的去年饲料

业之一。

司法部和商务部购买中国IT系统，新规将

质量安全监测结果显示，共有14家企业生

对中国电脑制造商造成沉重打击。中国可

产的猪用料砷含量超标，其中江浙沪地区

IPO依旧低迷

能会指美国违反WTO规则，予以回击。美

的饲料企业就有5家。

3月境内IPO尚未开闸，境外市场仅有香

国国会去年5月报告显示，美国进口的中

港独撑。根据清科数据库统计，3月份只

鄂尔多斯工业园一片荒芜

有2家中国内地企业实现IPO，合计融资

国内媒体近日在内蒙古鄂尔多斯市调查发

仅为1.96亿美元。上市个数只有去年同

国内主流媒体质疑苹果公司

现，该市多个工业园区入驻企业稀少，呈

期的1/15，融资额仅为去年同期融资额的

中央电视台在“3·15晚会”及随后报道

现“空城”迹象，而且物价比北京还贵。

5.29%。

中，质疑苹果售后服务实行“中外双重标

鄂尔多斯2010年人均GDP近13万元，超

准”，国内一百多家主流平面媒体对此进

过香港。但一年后，有关该市楼市泡沫破

大众在华召回38万辆汽车

行转载和报道。《人民日报》连续刊文指

灭的负面报道就层出不穷。

长达3年之久的“大众DSG事件”终因中

国“高科技产品”达1290亿美元。

苹果售后服务违反中国法律规定，并质疑

企业与市场 互联网投资回报持续下降

大众汽车集团宣布主动召回在中国部分搭

房产新政引发离婚潮

清科集团创始人倪正东透露，过去三年

约38万辆汽车。

据中央电视台《经济半小时》报道，二手

VC/PE投资互联网企业共计150亿美

房个税按差额20%征收政策出台后，不少

元，2010年为20亿美元，2011年为60亿

高端白酒市场下滑

地方出现“离婚潮”。3月6日这天，北京

美元，去年为56亿美元。获得融资最多的

去年下半年起，“塑化剂”“三公瘦

离婚数高达一千例，比平时多出一倍。上

是电子商务企业，但互联网总体投资回报

身”“禁酒令”等事件和政策频出，高端

海闵行区民政局在婚姻登记中心门口特意

在持续下降。

白酒市场明显下滑。北京、成都等地的53

苹果大面积“避税”。

10

央电视台“3·15晚会”曝光有了结果，

April 2013

载七速双离合变速箱（DSG）车辆，涉及

年经济增长可达3%。欧洲近期数据超乎预

受访企业表示，监管环境“没有改善”或

期，下半年复苏开始逐步显现，但近期塞

是“在恶化”，这一趋势在过去三年里一

浦路斯问题对欧元区银行业可能是一大考

贯如此。

验。

超过五分之一的企业将中国列为其 今年亚洲经济将在中国等的带动下持

全球首要投资目的地，54%的企业将中国

续复苏，持续增长动力来自于内需以及城

列为全球前三大投资地。近一半的企业表

镇化的推进。虽然近期中国多项经济数据

明，在今年的全球运营投资计划中，将向

转弱，但只是短暂现象。渣打预计中国今

中国额外追加投资额。不到15%的企业表

年GDP增速将达到8.3%，CPI则为4%。

明，为应对中国成本攀升，已经或计划将

中国将推行稳健从紧的货币政策，预计第

生产转移到中国以外的地区。而13%的企

四季度将升息25个基点，明年第一季度再

业表示，已经或计划将生产转移到中国国

升息50个基点。

内成本较低的地区。

带薪假期低于国际平均水平

网上零售增速可能减缓

酒店预订专家Hotels.com最新调查

多种迹象表明，政府今年将出台政策

统计全球30个国家及地区的最低带薪年假

从多个层面加强加深对行业的干预。清科

度飞天茅台价格，从1月每瓶1300元跌至

及国定假日天数。2013年，俄罗斯以40天

研究中心认为，政府对行业的干预，无论

1200元，2月跌至1000元，3月底更跌破

的带薪年假及国定假日总和高居调查榜首

是扶持还是监管规范，都将增加行业健康

800元/瓶。贵州茅台年报显示，2012年实

位，墨西哥则名列最后，仅有13天假期。

发展的风险。这是清科研究中心分析师徐

现净利润133亿元，同比增长近52%%。

调查数据进一步显示，本次参与调查的30

志鹏在近期的研究报告中提出的。

江苏黄埔再生资源利用有限公司董事长

个国家及地区的平均法定假期总数为28

陈光标称，高端白酒的价格是实际成本的

天。

10倍。

若将电子商务行业列入马云所谓“国 家战略”，推出系列产业扶持政策，必将

中国内地目前最低带薪年假及国定假

扭曲行业供需结构。在政府扶持政策下，

日天数总和为16天，低于国际平均水平。

行业市场供给会出现超常规的增长速度，

京东电商大战一天亏两亿

但由于其中的国定假日均与相邻的周末紧

为以后行业萧条埋下伏笔。如果推出大量

京东商城创始人刘强东称去年“8.15电商

接，变相延长了假期时间，鼓励国民出游

监管规范性政策，先不论所监管领域是否

大战”时一天亏损超两亿。他还表示京东

热情，推动国内黄金周旅游在高基数上持

需要监管。仅增加监管规范本身就会增加

物流项目“亚洲一号”建成后，京东才会

续较高增长。

监管成本，而这只会增加行业内企业税

考虑IPO。他预计京东今年大家电销售额 将超100亿。

赋，给企业增加负担。

美国企业仍首选中国 上海美国商会《2012-2013中国商

徐志鹏预计，今年中国网上零售市场 交易规模增速将减缓至40%-50%之间。

李宁巨亏转战童装市场

业报告》指出，在华美国企业经营业绩依

李宁集团去年亏损近20亿元，盈利同比下

然表现强劲，并将中国列为全球首要投资

降6倍。去年体育服装品牌总体净利润下

目的地。但是，美国企业在盈利水平、营

诺亚财富管理中心《房地产行业

滑，出现高库存、大幅关店等问题。李宁

收额以及营运利润率等主营业绩指标方

2013年2月报》指出，今年2月二线城市

集团加大对童装市场的投入，李宁童装近

面，已经连续第二年出现下滑。

交易量及房价表现优异，一二线房价的整

期首次独立亮相。

调查与分析 今年GDP或增8.3%

上半年房价或难下降

美国企业正在进行业务调整，以适

体快速飙升构成本次房地产调控的客观背

应转型中的中国市场，基本已将业务从以

景。随着新政细则的颁布，考虑政策对预

往驱动在华美国企业战略的低成本出口模

期的干涉、政策实施效果的滞后性及上半

式转移开来。91%的受访企业表示对未来

年房产商资金流的相对宽裕，诺亚财富管

渣打银行近期报告称，今年是全球

五年在华业务前景持“乐观”或“稍有乐

理中心研究员潘媛认为，今年上半年房价

经济渐入佳境的过渡之年。美国经济第一

观”的态度，这一比例创下了历年调查的

下降的可能性不大。

季度仍显疲弱，但在下半年将强劲反弹，

纪录，而这一指数在过去几年的问卷调查

美联储将维持宽松的货币政策继续支持增

中也从未有过回落。

长，每月购债规模达到850亿美元，下半

（本栏目内容根据公开信息整理）

在今年的调查中，超过三分之二的

April 2013

11

MONTH IN RE VIE W

NEWSBRIEFS Lego sets up factory in China

Chinese e-commerce giant Alibaba names new CEO

Lego will build its first toy factory in China to supply a regional market that is expected to be the world’s largest by 2016. Sales in the Danish company’s plastic bricks climbed 50% in Asia last year. The factory will supply up to 80% of the demand for the toy in Asia after it is completed in 2017.

Other toy companies such as Toys “R” Us have turned their sights toward China to meet the growing demand for educational toys from Asian parents. China’s toy market was worth US$8.89 billion last year, up 18% on 2011.

Alibaba Group Holding announced that one of the its executive vice presidents will succeed iconic CEO Jack Ma as the company’s top leader. Jonathan Lu, Alibaba’s chief data officer, will take over the role starting May 10. Lu is seen as an executive who shuns the media spotlight, unlike Ma’s outsized public persona. Ma announced in January that he would step down as CEO but remain chairman. Alibaba took its listed unit private last year, but many expect it to relist the larger company after consolidating operations.

Chinese solar company goes bankrupt

Report: Wealthy Chinese move more money offshore

Chinese solar panel maker Suntech Power Holdings’ main subsidiary went bankrupt after Chinese banks petitioned a court to declare the company insolvent. Wuxi Suntech informed the court it would not protest being labeled insolvent, although parent Suntech Power will not declare bankruptcy. A local government-owned conglomerate is expected to take over Wuxi Suntech, which employs roughly 10,000 people in the city of Wuxi in Jiangsu province. That the company is allowing its Chinese subsidiary, which holds most of Suntech Power’s assets, to go bankrupt while allowing the US-listed parent to survive has sparked worries that Chinese creditors may unfairly take precedence over foreign lenders.

12

A new report says rich mainlanders are transferring more money abroad. The report, by Boston Consulting Group and China Construction Bank, says that 28% of Chinese whose net worth is more than US$965,000 (RMB6 million) owned assets overseas in 2012, a rise from only 11% in 2011.

As a whole, this group of rich Chinese owned US$5.3 trillion in mainland assets and transferred overseas US$450 billion in holdings, or the equivalent of 3% of China’s GDP in 2011. The report predicts that the value of assets transferred abroad will double in the next three years. The findings are based on a survey of 4,000 Chinese with assets more than US$965,000.

China floats hukou system reforms

Yuan hits 19-year high

China may launch a system of national resident permits to replace the household registration or "hukou" regime that is often criticized for turning rural residents into second-class citizens, Reuters said. The country’s new leaders will introduce a "unified national resident permit system" soon as part of a 10-year plan to urbanize the Chinese population, a government researcher told Reuters. The system will deliver equal benefits to rural and urban residents and be eased in slowly, he said. Politicians and analysts are widely looking to urbanization to boost consumption and provide a new growth driver for the Chinese economy.

China’s central bank allowed the yuan to appreciate beyond 6.21 to the dollar, the highest value in 19 years. The yuan joined several emerging markets currencies that appreciated as a bailout plan for Cyprus drove demand for assets in the developing world. "A stronger exchange rate could help China tame inflationary pressures and boost domestic consumption by lowering prices of imports," Daniel Chan, vice president at Glory Sky Global Markets in Hong Kong, said.

The 0.03% increase in the central bank’s daily fixing rate may have been a sign to other major emerging markets that China is willing to balance trade deficits.

April 2013

China reaffirms commitment to Africa China’s President Xi Jinping pledged more investment in Africa during his first overseas tour and praised the economic growth of the continent at a speech in Dar es Salaam in Tanzania. Xi confirmed China’s pledge of US$20 billion in loans to Africa over the next three years. He defended the trade relationship between the two regions, countering critics who question the positive impact of China’s interests in Africa. "China will continue to offer necessary assistance to Africa with no political strings attached," Xi said.

China sets pollution target after smog scare China will aim to cut carbon emission and energy use by 3.7% for every unit of GDP growth in 2013, according to a National Development and Reform Commission report released in March. China announced a 7.5% growth target for this year at the recent National People’s Congress.

China’s State Council estimated that it will spend up to US$380 billion on conservation and emission cuts through 2015. Concerns on pollution came to the forefront of the Chinese media in January when the nation’s capital was shrouded for weeks in record levels of smog.

April 2013

13

专栏

德国模式启示录 探索走中国道路的非常重要的借鉴模式 文 | 李稻葵 清华大学中国与世界经济研究中心主任

新

一代领导人提出要

不要从上至下按项目分配。当然，新总理

实现“中国梦”，

已宣布要减少一定的项目性转移支付。

理，尤其要避免恶性劳资冲突事件，建立

要走中国道路。中国道路 就是要探索未来中国经济

李稻葵

对中国的启示有三条。第一条是合 理协调劳资关系，让职工有序参与公司治

劳资团结合作

社会发展的成功模式。我

德国体制有意义之处，就是政府大力

的理解，必须要充分借鉴

扶持实体经济，实体经济稳健发展是德国

世界上成功国家的先进经

成功的重要支柱。

有机的机制，让职工能够与企业老板和高 层管理人员平等合作、合理协商。 再一条是政府对企业用工提供保险。 政府一般做法是当工人失业以后提供失业

验。而德国模式无疑是实

首先是建立稳定有序的劳动力市场。

保险，而德国是对用工提供保险。2009年

现“中国梦”，探索走中

在劳动力市场上，工会的作用主要是与企

以来德国很多企业的经营出现短期下滑，

国道路的非常重要的借鉴

业进行集体谈判，而不是单纯追求工会自

企业就让工人从一星期工作5天减到3天，

模式。为什么要借鉴德国模式？德国模式

身利益。在实体经济发展方面，职工有序

只付3天工资，失去的2天工资的60%由政

在哪些方面特别值得关注？我总结了五个

参与企业决策。比如2万员工以上的企业必

府提供。一旦经济转好，工作时间就从3天

方面。

须要有20人的监事会，监事会成员里职工

回到4天、5天，这样就减少了劳动力市场

必须占有10个席位，其中3位必须是工会

过多的摩擦。

税收来源均衡 德国公共财政非常有特点，税收来 源相对比较均衡。直接税与间接税的比重

会员。通过这种监事会机制，就将职工和

第三条是注重职业教育。中国职业教

企业高层管理人员的决策有机结合，职工

育的前景十分广阔，但目前还没有得到充

以企业为家，参与企业的管理。

分发展。

相对比较均匀，个人所得税在税收体制中

双轨制教育体制也非常有利于实体经

占27%，比美国低了很多，而从流转过

济发展。小学毕业开始分流，一部分学生

程中征税比较多，如增值税占到税收体制

进入职业教育轨道，当然这个体制可能需

德国房地产市场是出了名的稳健。从

36%。因为流转税相对容易征收，流转税

要进一步认真研究，也许分流太早，一部

1975年到2011年，德国房价去除通货膨

与经济周期的相关度相对比较低，而个人

分可以从事学术研究的人才过早地进入职

胀后实际下降了22%。德国经济在上升，

所得税的税基是个人收入，与就业相关，

业教育轨道。

房价长期以来却是下降的，房租比也是下

补贴租房市场

波动性更大。相对均衡的税收体制能够帮 助公共财政，使税收来源相对比较稳定。 我认为，这是目前德国应对这一轮经济衰 退的法宝。 能源税、资源税的上升不仅能够提供 稳定的税收，更能促进节能环保，与环境 友好发展。政府之间的转移支付，德国的 做法跟是根据各个地方的实际发展需要进 行转移支付，尤其是在所谓穷州和富州之 间能够直接进行转移支付，不经过中央。 德国公共财政有三点值得中国借鉴： 第一是直接税、间接税并重，中国必须改 革对土地出让税的过多依赖；第二是出台 政策逐步增加能源税和资源税；第三是财 政转移的方式要按需分配，以人为本，而

14

April 2013

大众旗下奥迪生产线：德国大众也是家族控制的百年老店

降的，房价的波动性也是最低的。原因是 什么？ 第一是供给。政府直接给开发商提供 补贴，鼓励开发商开发住房，但是开发出 来的住房不许卖，而是长期出租，而政府 对租金又有一定的管控，不能随便涨价。 第二是需求。对于租房而不是买房的 民众，政府通过各种方式提供补贴，鼓励 租房。 第三是房价不能随便涨，每个地区每 座房屋都有记录，只要房价涨一点，政府 马上可以管理和控制。 第四是抑制投机。对于借钱买房的 这部分家庭，政府有相当的控制。比如收 入低的家庭如果要买房，政府反而要提高 首付比例，因为担心收入低的家庭买房后 还不起放贷，成为金融体系和房地产市场

德国的住房政策是抑制投机鼓励租房

的包袱。与美国次贷危机前的办法相反， 美国给低收入家庭提供补助让他们买房，

究了自己的情况，发现金融体系远远比不

大众背后的英雄，也不上市，也是百年老

德国是对低收入家庭买房提出更苛刻的要

上美国、英国那么发达，同时也发现总体

店。宝马公司背后是一个大家族在控制，

求。

经济规模与美国相差很远。如果完全放开

前台由职业经理人管理。这个机制非常重

德国总体而言是鼓励租房、抑制买房

管制，让资金流入流出，资金会流入德国

要。

和打击投机，非常有特色。对中国有什么

商业银行，抬高马克汇率，对德国制造业

德国有好几百所私立学校，很多都建

启示？第一是鼓励租房，政策在租房这一

和实体经济十分不利。分析利弊后，德国

在森林里，采取严格的教育方式，学生连

侧缺位，一定要增加新建住房供给，尤其

政府采取的措施是消极应对马克国际化的

手机都不许使用。德国大家族注重教育，

是租赁房的供给，并提供一定补贴。第二

呼声。这点特别值得我们研究和借鉴。

将孩子送去接受严格教育，与我们很多企

是严格抑制投机性的购房，适当提高购房 门槛，建立稳定的购房融资体系。

从严监管金融

对中国的启示有两点。第一是审慎的

业家的教育不太一样。

金融监管具有全局意义，不仅能够让金融

德国遗产税很高，最高达70%，但遗

业比较稳定，同时可以避免金融业出现过

产税对于家族企业的传承网开一面。如果

高的回报率，从而让人才逐步流入到实体

一位企业家创办了一家企业，他要把这家

审慎的金融体系也是德国模式的重要

经济和企业，而不是完全往金融领域里流

企业传给自己的孩子，如果孩子承诺10 年

方面。德国金融监管部门对金融机构的监

动。第二是人民币国际化。一定要保持冷

之内继续经营或者经营10年以上，他的遗

管非常严格。德国金融机构的投资资金回

静的头脑，不能被国际化，包括华尔街很

产税几乎是不用交的。遗产税对于家族企

报率在欧洲是比较低的，欧洲一百家最大

多精英人士捧杀。一定要考虑中国实体经

业传承和基业常青起到了正面作用。这点

银行的平均回报率是9.9%，而德国的平均

济和企业的承受能力。国际化步伐太快，

非常值得我们关注。

回报率是4%左右。

一定会增加人民币升值的压力。

的政府担保，很大程度上减少了银行的高

对中国的启示是，家族长期控制加上 职业经理人管理可以成就伟大的企业。我

2001年德国政府取消了对储蓄银行

呵护家族企业

们往往向往美国企业，第一代创业，第二

风险行为，同时对商业银行呆账拨备的要

最后是基业常青。德国的经济实力之

代不愿意干，就将企业交给社会。教育是

求非常高。德国商业银行体系下的负资产

所以如此强大，重要原因之一是拥有一大

家族企业传承的关键，要教育孩子以企业

和不良资产率逐年下降，金融危机爆发后

批基业常青的家族企业。德国家族企业往

为家。遗产税是正在兴起的话题，不管中

反而下降，这是一个奇迹，根源在于严格

往是家族控制，由职业经理人管理，家族

国要不要征收遗产税，还是怎么设计遗产

的监管。

并不介入日常管理。如汉高公司，世界上

税，一定要考虑到家族企业的传承问题。

还有是消极的马克国际化政策。德国

数一数二的化学公司，由家族控制，不上

（根据作者在“德国模式：启示与借鉴”

政府在这个问题上极其冷静，他们仔细研

市。博世做汽车零配件，是宝马、奔驰、

论坛上的演讲整理）

April 2013

15

REPOR T

Cutting through the red tape In streamlining its ministries, is China merely rearranging the deck chairs?

I

t’s sometimes said that China not only invented but also perfected the art of bureaucracy. Perfected is a questionable description, but China certainly treats bureaucracy as an art: The country even has a genre of literature devoted to chronicling the underhanded schemes and power plays of its official class.

Many bureaucratic dramas are undoubtedly unfolding in China right now, after the State Council presented the National People’s Congress in Beijing with sweeping reforms to streamline the central government. The plan is the biggest reduction in ministries since 1998, when Zhu Rongji overhauled the State Council, as well as the seventh restructuring of the central government since China began market reforms 30 years ago.

The State Council proposed cutting China’s cabinet-level bodies from 27 to 25, doing away with the unpopular Railway Ministry and the Family Planning Commission. The Railways Ministry, which has been dogged by mounting debts and allegations of corruption, will surrender its regulatory responsibilities to the Transport Ministry and commercial operations to a new state-owned enterprise, the China Railway Corporation. The family planning commission will be incorporated into the health ministry.

These reforms are necessary; in fact, they probably should have been done a long time ago. A powerful family planning agency is little help to China’s

16

April 2013

sary escalation in the case of a run-in between fishermen or patrol boats of rival nations.

Reshuffling deck chairs

now rapidly aging society and decreasing population. The changes pave the way for the end of the one-child policy, or at least the less rigorous enforcement of those antiquated rules. The Ministry of Railways was also a holdover of an antiquated system: China’s other ministries were required to spin off commercial operations into stateowned enterprises long ago.

The plan also merges the regulators for broadcasting and print media, elevates the food and drug administration to ministerial level, pulls together fisheries and maritime enforcement agencies and restructures the National Energy Administration. These changes are also beneficial, in that they will increase accountability, eliminate inefficiencies and prevent further bureaucratic turf wars. For example, the streamlining of the many administrative bodies with leeway to act independently in the East and South China seas will reduce the risk of an unneces-

The State Council’s reforms are wise and necessary, but they may not go far enough. Proponents of reform discussed the possibility of more dramatic changes to the bureaucracy in the runup to the congress, but these failed to materialize.

For example, the restructuring lacked any mention of China’s sprawling and sometimes inefficient mix of financial regulators. Some pro-reform commentators urged the government to merge the separate regulators for banking, insurance and securities into one administrative bureau, in order to speed reform of China’s financial system. Others suggested the People’s Bank of China be elevated from its position under the State Council to a more independent government institution, the same rank as the Supreme People’s Court, to give the PBoC the authority to push through difficult financial reforms.

This kind of restructuring probably faced much opposition from the powerful entities it would wrest power from, including the Ministry of Finance, the China Securities Regulatory Commission, the China Banking Regulatory Commission and the NDRC. Similarly, the State Council did not announce changes to the scope of power of the National Development

and Reform Commission. Formed in 2003 out of the State Planning Commission, the NDRC was charged with assisting the State Council in drafting development plans and carrying out economic reforms.

Today, the NDRC’s purview is much wider than that. Much of the NDRC’s work is coordinating local investments and development plans, meaning its scope has grown with China’s investment-heavy growth model. NDRC Chairman Zhang Ping has recently continued to defend this growth model, which many economists now say is unsustainable.

The NDRC has broad regulatory powers over all major industries, and it often cited by both economists and companies as a roadblock to efficien-

cy and structural reform. Minxin Pei, a noted China scholar at Claremont McKenna College, told The Wall Street Journal in an interview that reducing the scope of the NDRC, especially in terms of the lengthy bureaucratic approval process of projects, “will provide more autonomy to local governments and accelerate market reform.”

He Keng, a member of the 10th and 11th NPC Standing Committee and dean of the School of Statistics at the Central University of Finance and Economics, seconded this opinion in a piece for the Global Times: “I suggest that the NDRC’s direct intervention be diluted during the restructuring of institutions. Each sector can have clear and separate economic management functions … The NDRC should return

to the position of offering suggestions for the State Council.”

The reforms that the State Council announced are vital, but they may not go far enough to address China’s economic challenges. The absence of any reforms to the NDRC or financial regulators hints at just how diffuse the structure of power is in China. Those outside of China often view the country as a monolithic, top-down institution, with Beijing having the absolute authority. That is not the case. Instead, China’s top leaders are extraordinarily gifted politicians who use their political capital and connections to win the support of powerful actors across the country’s vast bureaucracy. Now those are the kinds of power plays that would make for excellent literature.

April 2013

17

专栏

社会市场经济 德国模式的成功之处在于独特的经济体系和良好的产业政策 文 | 罗兰·贝格（Roland Berger） 罗兰贝格管理咨询公司创始人

罗兰·贝格

德

国模式很值得研

济中，德国制造业所占比重在发达国家是

供应商。德国各州都希望建立起自己的聚

究，也许还有一

最高的，其他国家只有中国的制造业占比

集优势，地方政府起到了很好的推波助澜

些值得其他国家借鉴的地

在GDP中是比较高的。这非常重要，因

的作用。西门子这样的企业也在合作的范

方。2009年后，只有少数

为有了制造业才能够带动创新，带动直接

围内，可以获得政府支持，包括贸易融资

欧盟国家仍然保持了经济增

投资，并且能够带来高附加值和高薪的工

等。

长，德国就是其中增长最好

作。

商务部长或总理带团到中国访问时，

的国家。很多指标显示德国

扎实的制造业同时也可以带动服务业

都会组成商贸代表团，里面一定有三分之

真的很不错、很成功，如外

的发展。过去10年，德国是唯一积极推动

二是来自于中小企业的代表。德国政府认

贸有声有色，经常账户盈

制造业增长的大国。德国有意识地增加制

为，要塑造德国未来的商界，必须关注中

余，公共财政体系稳定，

造业在经济体中的占比，而其他发达国家

小企业。

失业率在下降（很多发达国家的失业率在

开始出现去制造业和去工业化的现象。

上升），股票市场比较繁荣，而且很多人

我要特别强调的是，德国的教育体系

一些共通之处。过去5年，中国政府强调社

认为德国是安全的投资目的地。德国这么

是世界上最好的，其中的职业教育带来了

会和谐，强调对于科技创新的重视，强调

好，到底是什么原因？

世界上质量最高的生产力和劳动力。每个

对于教育、基础设施建设和各种产业附加

我认为，德国的经济体系也许并不能

学生必须经过3年的学徒训练，也就是在工

价值的重视。中德两国都更加重视产业政

称作是一种范本，但确实是很有意思的体

厂或服务业进行3年的学徒计划，这样可以

策，我认为，两国对产业政策的看重和提

系，也许可以为中国新一届领导人实现经

帮助年轻人在完成学业后迅速就业。德国

升是非常恰当的。很多德国企业比中国企

济下一步发展提供新的思路。所谓社会市

双轨制的教育体系始于1880年，当然需要

业更国际化，原因是他们出口的历史比较

场经济，就是充分享受自由市场经济带来

花很长时间才能建立起这个体系。我认为

悠久，可能在上个世纪初就已经开始出口

的好处，包括竞争的活力、自由的竞争；

这是德国成功的重要关键之一。

了，而中国企业可能只有过去二三十年出

但与此同时，仍然要加以一定的限制。限

德国的产业政策希望能够扶植企业。

口的经验。但是再过二三十年，我们将会

制是为了什么？是为了造福整个社会，造

比如在德国西南有130年历史的重要汽车

看到中国拥有更多的跨国企业，跨国企业

福社会中的每一位公民，尤其是那些处于

生产基地，还在巴伐利亚地区建立起不同

的数量甚至有可能超过德国和欧洲。（根

弱势地位的人群。

的产业聚集区，如汽车工业基地拥有汽车

据作者在“德国模式：启示与借鉴”论坛

工程设计和制造企业，还有各种零部件的

上的演讲整理）

德国的社会市场经济可以说很成功， 一方面促进了经济的进一步发展并取得了 良好的绩效，同时又能够极大地降低社会 动荡的风险。 出现问题怎么办？德国模式有自我 改革的能力。也就是改掉不合时宜的做 法，改掉偏见和傲慢。比如福利制度已经 大刀阔斧地改革，还极大地改革了劳动力 市场，增加了灵活性，减少了保护主义倾 向。每次改革都很成功，改革之后社会更 团结了。 德国有很好的产业政策，而且拥有世 界一流的企业，企业竞争力也非常强。德 国的产业政策是健康和良好的。在总体经

18

中德两国的确存在差异，但也发现了

April 2013

社会市场经济体系能够极大地降低社会动荡的风险

专栏

医改突破口 将提高医生待遇作为抓手来推进医疗服务改革 文 | 陈天桥 盛大网络董事长兼CEO

目

陈天桥

前医疗资源仍然紧

矛盾加大；医生后备力量薄弱；资源分配

业，成为收入最高行业）。这是中国医疗

张，尤其是优质医

陷入恶性循环，使城乡差距不断拉大。

改革花小钱省大钱的突破口，只有让医生

疗资源稀缺且往往集中在一

医疗改革确实重要，牵一发而动全

线大城市的三级医院。从某

身，但提高医生待遇就是动一发而益全身，

要加速中小城镇和农村地区的医疗

种角度看，“看病难”缘于

成本最低、效果最快。从古到今，世上任何

基础设施和队伍建设。加大对中小城镇和

医院少，医院少缘于医生

地方的医生都是以技术服务来获取报酬，

农村医院的财政支持，创造合格的医疗条

少，医生少则缘于医生待遇

我们现在要做的就是尊重事物的客观规

件；还可以在保障医生福利待遇的前提下

低、福利少。所以我认为，

律—即高度尊重救死扶伤的这一伟大职

输送优秀的医生从三级医院去到二级、一

推进医疗改革的一个重要抓

业，尊重他们的技术本领（而不再让他们

级医院，从城市医院到县乡医院。我们必

手就是提高医生待遇、鼓励

依赖卖药、卖器械和收红包来赚钱）。所

须清楚得认识到：只有小医院和卫生所的

以我建议：

信誉重塑了，才会有“大病重病进城看，

年轻人从医。

切实受益，医疗改革才改变基础。

医生待遇究竟是高还是低？近4年的数

要加大医疗投入，在投入中确定用于

小毛小病就近看”的医疗资源的合理分

据显示，美国、加拿大、日本等国医生平

改善医生福利待遇的比重和逐年递增的比

配。假设有一天，农村的老百姓说“我老

均收入是中国同行的40倍左右，香港的医

例。医生应该根据劳动强度、教育背景和

家看病不比你们城里差”，有了这“健康

生平均收入是内地的22倍，台湾地区是大

职业责任来确认工资，平均收入建议达到

卫士”的底线保障，他们一定会留在故乡

陆的14倍，即使是与印度、巴基斯坦等发

社会平均收入水平的1.5倍到3.5倍（专家

安安心心谋生活，全心全意谋发展，为城

展中国家相比，我们仍然是远远落后的。

研究认为：世界上，医务人员平均的收入

镇化的建设推进保驾护航。

面对这样的情况，我们不得不反思，

水平大概是社会平均工资的1.5倍到3倍之

要充分培养和发挥新生力量，为鼓励

医生低工资会给患者和整个行业乃至社会

间。如果建议医务人员的工资提高到平均

年轻人学医从医创造良好条件。有不错的

带来什么？那就是：医生工作热情和效率

线的1.5-3倍，那么此收入最起码可以达

收入和充分的业务锻炼机会，相信年轻人

降低；个别医生依赖“灰色收入”，医患

到国家第二高的收入水平，甚至超越金融

一定能够踊跃投身到医疗卫生这一崇高的 行业中来。对此我提议：对年轻医生定期 下乡就诊的，可给予一定的津贴补助；对 长期驻守在基层医疗第一线的，可给予一 定的津贴补助、个人所得税减免和职称评 定的优先照顾权。 尽管推进医疗服务改革是复杂的课 题，但我坚信提高医生待遇、鼓励年轻人 从医是一个有效的突破口，更是利在当 代、功在千秋的大好事。试想中华大地， 每一个城镇里都有设施齐备的医院，有高 水平的医生，必定会吸引人们去安居、乐 业，大城市的种种“刚性需求”才会得到 缓解。大城市房价下来了，小城镇的经济 却起来了，“仓廪实而知礼节”的中华盛 世也必定能够得到伟大复兴。（摘编自作

医生职业理应受到全社会的高度尊重

20

April 2013

者在今年全国政协的提案）

REPOR T

When pigs float A massive dump of animal carcasses is a harbinger of tightening food and drug regulation in China

T

he image of thousands of dead, waterlogged swines has sullied an otherwise whitewashed image of China during the government’s annual congress. On TV and computer screens across the globe, the pigs are floating among white foam and plastic bottles in a muddy waterway. They’re falling flaccidly from conveyor belts into the backs of industrial trash bins. Masked workers are dragging them to shore with metal prongs attached to the ends of long bamboo poles. And there were nearly 7,000 of them in the river that doubles as a source of water for China’s largest city, Shanghai.

The pigs may have floated downstream from a farm in Jiaxing, a major pork producing city in the region. But deducing why the livestock were tossed into a river will be far more important than figuring out which farmers were responsible.

“They may have been trying to avoid a food safety scandal, but they didn’t have a good way to get rid of [the pigs],” says Sun Xi, an analyst at environmental analysis firm Sustainalytics in Singapore, referring to farmers who may have dumped the carcasses in the river.

The dead pigs may have been a blessing in disguise because the meat – from which scientists detected a porcine virus – didn’t end up on dinner tables in Shanghai. In years passed the meat floating in the river this week

22

April 2013

could have reached restaurants and homes. Selling dead or diseased pigs into the market has become so commonplace in China that the government recently heightened enforcement on the sales of such potentially hazardous pork, Sun said.

It’s not just the enforcement of pork safety that is changing. The entire food safety apparatus is undergoing a tremendous transition after 10 years of food and drug related scandals have deeply eroded public trust and stirred an international wariness for the Chinese products.

The annual National People’s Congress elevated the country’s food and drug regulator to ministerial level.

This takes a long-embattled State Food and Drug Administration and puts it on par with the Ministry of Health, a powerful yet bureaucratic department that has worked to keep the former

agency under its political wing.

Observers have hailed the move as an unprecedented victory for the country’s food safety, but the empowered SFDA will have its work cut out for it in an environment that has become alarmingly noxious in the span of a decade.

Dark ages for food safety China has earned a dismal food safety record over the past decade, a period defined by unbridled growth with little thought for the toll on the Chinese landscape or the health of residents.

A string of food and drug related scandals starting in 2006 brought food safety to the forefront of national consciousness. Highly publicized food safety debacles, some resulting in death, haven’t ceased since then.

During 2006 and 2007, five major food and drug scandals brought China into the international spotlight that

REPOR T

shaped the regulatory environment for the following five years. In 2007, just months after contaminated toothpaste from China ended up on North American shelves, the country sentenced Zheng Xiaoyu, then head of the SFDA, to death on corruption charges. Zheng’s administration had also allowed tainted pharmaceutical products to kill several people in the West.

Behind the scenes, the SFDA and the Ministry of Health were battling for power, said Huang Yanzhong, a senior fellow for global health at the Council on Foreign relations. Zheng Xiaoyu’s case took the momentum out of reforms that had consolidated power with the SFDA. The ministry snaffled away a host of powers over policy writing, investigation and enforcement, among others.

The Sanlu milk powder scandal in 2008, which killed four infants and put more than 100,000 in the hospital, would further diffuse regulation.

As if in an attempt to guard against future retribution, the government spread responsibility for food and drug safety across five different regulators in reaction to the scandal. The move

24

April 2013

allowed officials to pass the buck when problems occurred, said Huang, who recently wrote a book on food safety in China.

From the top “There is no doubt that food and drug safety is now among the top pains of China’s increasingly wealthy people,” Ting Lu, head China economist at Bank of America Merrill Lynch, said in a note last week.

But the changes enacted at the NPC were a strong sign that reform in food and drug regulation is succeeding. Ting Lu told China Economic Review this week that elevating the SFDA to the level of ministry would mitigate the problems associated with fragmented regulation, although some overlap would still exist.

The SFDA’s heightened stature “will certainly improve the integration of regulation by allowing regulators to oversee the full spectrum of activities after food leaves the farm,” said Yang Dali, a professor of political science at the University of Chicago. However, there is no single solution to solving China’s endemic food problems,

he said. The success of the SFDA will depend on its access to resources and reaction time for implementing new measures. The judicial system will also need to play a greater role in regulation, Yang said.

The Ministry of Health will still be the primary policy-making body, while the SFDA will control most of the regulation and enforcement of rules, Sun at Sustainalytics said. To Sun, the changes represent a culmination of several years of reform at the hands of the same officials that are now taking over the top leadership, particularly newly appointed Premier Li Keqiang.

Li was tapped to head the Food Safety Commission, a regulatory body formed after the Sanlu scandal that will now become part of the SFDA, at the same time he was being groomed for his current role as China’s No. 2.

The sensitive nature of such positions could make them a testing ground for up-and-coming political stars during the next 10 years, according to Sun. As a result, food safety is more likely to stay at the top of the new governments agenda.

While progress is being made, the pigs in the river this week demonstrated – in a morbid way – the continued fragmentation in the system.

Until very recently, the Ministry of Commerce instead of the SFDA was responsible for pork safety. That responsibility was passed over to the Ministry of Agriculture last week.

But there are outstanding questions on how this ministry, the Ministry of Health and the SFDA will interact to make China’s favorite meat more safe.

The case shows that there is still plenty of room for passing around responsibility when food scandals break.

市场

西部商业问道 远洋、太古打造成都新地标 专访成都乾豪置业有限公司董事总经理陈雷

睿东中心效果图

眼

远洋、太古携手成都

置业有限公司董事总经理陈雷先生。

都项目成立的合营公司。远洋地产背景深

前这位中年人，睿智，干练，气宇 非凡，谈笑风生。他就是成都乾豪

2010年年底，远洋地产携手太古 地产获取成都大慈寺片区及东大街9号地

陈雷 远洋地产有限公司副总经理， 成都乾豪置业有限公司董事总经理， 北京麟联置业有限公司董事总经理。 陈雷于1995年加入远洋地产有限公 司，作为项目负责人全程操盘过“远洋天 地”、“远洋新干线”、“远洋公馆”、 “远洋万和城”等北京超级住宅大盘，并 从2008年起负责商业综合体开发项目，至 今已全程操盘了“远洋国际中心”、“远 洋光华国际”、“北京颐堤港”项目。

26

April 2013

乾豪置业是太古地产和远洋地产为成 厚，太古地产出身名门，双方合作可谓强 强联手。

块，着手打造大慈寺文化商业综合体项

远洋地产曾是央企中远集团旗下的全

目—占地面积约120亩，总建筑面积约

资子公司，2007年在香港联合交易所主板

39万平方米，除国际甲级办公楼睿东中心

上市，为内地在港上市房地产公司十强。

（Pinnacle One）外，还包含时尚购物街

业务范围涉及中高端住宅、高级写字楼、

区、都会风尚酒店以及服务式公寓。

零售物业、酒店式公寓开发、房地产销售

作为这个投资额近百亿元商业综合体

及相关业务。

项目的总负责人，陈雷透露，该项目计划

远洋地产在商业地产领域已有15年成

于今年年底试营业，明年第二季度正式开

熟开发经验，北京长安街的“远洋大厦”、

业。据悉，这是两家品牌开发商继北京颐

“凯晨世贸中心”以及北京CBD的“远洋

堤港（INDIGO）项目之后，联袂打造的

光华国际”、“远洋国际中心”等均是其

第二处综合发展物业。

代表作。未来，远洋地产将继续加快商业

物业的开发进度，提高商业项目在整体业

于2012年9月正式开业。“远洋地产与

作为2013年《财富》全球论坛的举

务的比重。

太古地产在这个项目上的合作是基于两家

办地，被喻为中国未来新经济中心的成都

“商业地产堪称房地产领域最顶级的

企业在商业地产领域的发展战略，因为强

正在迎来最关键的发展飞跃期。

产品，市场环境变幻莫测，更需要发展商

强联手必然是战略上的谋合。当然，对双

对蓉城赞赏有加、情有独钟的陈雷

具备雄厚实力、丰富经验和前瞻眼光。”

方而言都是一种机缘。”同时作为颐堤港

分析道：“成都奢侈品的单店销售额丝毫

陈雷指出，“在这个领域，企业之间的强

（INDIGO）董事总经理的陈雷表示。

不逊色于北京、上海，二线城市出现了与

强联手是一种很好的选择。远洋地产有很 好的本地优势，在国内数十个城市具有开

经济中心城市同等的奢侈品消费能力，消

成都集聚全西南地区的消费能量

费潜力可想而知。此外，成都还是西南地

发经验，并且对国内所有流程、规范、法

近年，北上广深商业地产发展到顶

区生活消费的聚集地，相对欠发达的周边

规等都非常熟悉。而太古地产在香港成功

峰，中西部地区二三线城市渐受青睐。就

城市，成都更易吸聚各方面资源。所有这

发展了很多综合项目，具备深厚独到的综

拿成都来说，大型商业地产项目蜂拥而

些优势造就了这座城市商业人文上的繁华

合商业运营经验，并与大量国际商业品牌

至，这座西部地区二线城市有这样大的市

旖旎，吸引了包括九龙仓、铁狮门、新鸿

保持长期良好合作，这使得其在拓展新区

场需求么？很多人对成都的消费能力有所

基、香港置地、韩国乐天等在内的国际品

域时，能更有效快速地整合商业资源。北

疑虑和担心。

牌发展商纷至沓来。”

京颐堤港是远洋地产和太古地产合作的第

对此，陈雷表示：“成都不仅是四川

两大商业巨擘合作的如此大手笔商

一个项目，有了颐堤港的成功基础，成都

的中心城市，也是西南地区的核心城市。

业项目，会对这座二线城市产生怎样的影

大慈寺项目必将成为双方再次携手合作的

我们不能仅看当地的消费能力，而要把成

响？陈雷分析道：“成都的商业地产市场

佳作。”

都放到西南地区的大背景来考察，成都积

发展很快，综合体不断涌现，我们通过对

聚和吸纳着整个西南地区的消费能量。”

市场的划分和梳理，将大慈寺综合体定位

具有英资背景的香港上市公司太古地 产于1972年在香港成立，致力发展及管理

在实施这个项目之前，远洋地产和太

为高端精品项目。我们项目的进入对成都

商业、零售、酒店及住宅物业，发展策略

古地产已对成都的区位优势作过深入而全

市场造成很大冲击，但高端定位也与当地

为在城市主要运输交汇点上盖发展综合物

面的研究。

目前以中低端商业项目为主的市场形成互

业项目。太古地产立足香港，业务遍及中

成都不仅是四川省的首府和中心，

补。我们希望这个项目在西南乃至在全国

国内地、美国以及英国，其香港的投资物

而且是西南地区的科技中心、商贸中心、

都是顶级的商业地产。”成都是一个休

业组合以太古广场、港岛东为核心物业。

金融中心和通信枢纽。成都被描述为继北

闲、平和又具有历史积淀的城市，巴蜀

在中国内地，太古地产已履步北京、上

京、上海、广州之后的“第四城”，是国

文化、市民文化和外来文化在这里碰撞

海、广州和成都四大核心城市发展了五处

家级区域经济圈的中心城市和休闲之都、

交织，让这个城市变得越来越有趣。在这

大型综合项目。

人居天府。成都现代服务业发展迅速，消

种环境下，陈雷认为：“对于商业物业来

费需求旺盛，城市对外吸引力、辐射力和

说，市场占位非常重要，你必须要明确你

城市综合服务功能日益增强。

走哪一种文化路线。我们希望通过大慈寺

2008年，太古地产联合远洋地产共 同开发北京颐堤港（INDIGO）项目，并

成都合江亭

April 2013

27

市场

北京颐堤港（INDIGO)

项目，挖掘西南文化的精髓，同时为城市 营造极具时尚商务氛围的所在地，将本土 文化引领到更精致、更高端的境界。”

得相当完好。 “大慈寺文化商业综合体的建设非常 注重历史文化保护与传承，将着力为大慈 寺片区赋予历史文化内涵与生命活力。”

“户外、开放、低密度—消费 者可以在我们项目逗留一整天”

熙路集聚商业形态相辅相成。 对于主要客流来源，陈雷分析道： “春熙路商圈吸引中低端客流多一些，而

项目的时尚购物街区建筑是低密度、

大慈寺项目定位更高端，我们的目标受众

开放式街区布局，27栋商业建筑最高不

可以分为三类，第一类是成都本地的享受

“地段，地段，还是地段”，这是香

超过大慈寺大雄宝殿高度。陈雷谈到：

型富裕阶层；第二类是西南地区的高端群

港首富李嘉诚最经典的房产投资理念。地

“人们天天工作生活在高楼里，难免感到

体；第三类是游客群体，并非传统意义上

产项目地段非常关键，为何选择在大慈寺

压抑，而我们的商业街区视野开阔，人们

的民俗旅游客，而是来享受这个城市生

片区建设大型项目？

来到这里后，压抑的情绪能得到释放，心

活、气候、美食并有一定消费能力的高端 人群。”

陈雷表示：“这块地拆迁多年，没

情得到放松。而且成都一年四季的气候良

有轻易出让，政府有意识地想打造这个地

好，适宜户外活动，购物中心可以与户外

顶级商业地产往往与顶级奢侈品牌比

块，将其塑造为高端商业街区，一直在等

很好地互动。考虑到成都特定的气候、历

翼齐飞。大慈寺项目购物街预计会吸引几百

待合适的时机与最合适的商家。”

史、建筑形态和商业布局，在有限的娱乐

家品牌商户入驻。目前与项目签约的国际顶

时间里，消费者就会选择像大慈寺项目这

级奢侈品牌已有爱马仕（Hermès）、卡

样有特色的地方，度过悠闲的一天。”

地亚（Cartier）、纪梵希（Givenchy）、

大慈寺始建于唐朝，历史上就是城市 商业中心，每逢庙会极为热闹，现在也是

28

下、地上与两条核心地铁线路相连，与春

著名的文化旅游景点。这里积淀着历史，

购物街区里的建筑自成一体，但又

古驰（GUCCI）、Jimmy Choo等等。爱

是难以复制的地段，古建筑、寺庙都保存

通过空中走廊连接一起。商业街将通过地

马仕专卖店主要分布在北上广一线城市，

April 2013

综合体商业区效果图

成都地区目前仅有一家专卖店，未来该品

发、运营持有型写字楼的经验，两家的共

牌在大慈寺项目购物街所开设的店铺，会

同优势比较明显。”陈雷指出，从城市布

展目标。 从环保理念出发，大慈寺项目还特别

成为其在西南地区的旗舰店。

局看，睿东中心位于成都中央商务区东大

注重建筑材料的循环利用，项目几十栋建

“爱马仕的选择说明对这个项目的定

街核心地段，是连接传统春熙商圈、新兴

筑尽可能使用钢材，便是考虑钢材作为节

位是认同的。在战略发展上，商户同我们

大慈寺-红星路商圈的重要枢纽。随着春熙

能材料可回收的特质。这些投入甚多却又

想法一致，即通过这个项目完成在新区域

商圈东扩，未来睿东中心将与周边其他国

看不见的地方也是两家企业“创新绿色设

的品牌战略布局 。”陈雷说道。

际甲级写字楼一道成为城市的商务核心。

计理念”的体现。

绿色办公 —城市中心的稀缺写字楼

在产品硬件配置方面，睿东中心也

此外，睿东中心与建筑配套的细部设

一应参照国际品质打造。陈雷特别介绍

计也经过充分考虑和设置，如项目中新种

道：“包括睿东中心在内的大慈寺文化商

植的绿化街道，下沉花园入驻的咖啡厅、

睿东中心作为大慈寺综合体中的国际

业综合体一大亮点便是绿色环保。”可持

餐厅等，有助于美化成都的街道景观和提

甲级写字楼部分，也将于2014年落成。近

续发展是远洋地产和太古地产共同拥有的

升项目的使用功能。北区的绿化广场将为

年成都写字楼市场正处于供应井喷期，睿

重要价值观之一，能耗最小化这一理念始

办公人群创造休憩的绿洲,从地铁站至广场

东中心能否脱围而出？

终贯穿于项目设计中。睿东中心将与整个

的路径也经过精心设置，将为成都街头增

“从商业地产的业态来看，大型城市

大慈寺文化商业综合体项目一起，以美国

添靓丽风景，而办公人群也将获得愉悦的

综合体需要配置国际品质的甲级写字楼。

绿色建筑协会的能源与环境设计先锋评级

感受。

我们对于睿东中心的定位是最高端的国际

之社区建设（LEED-ND）和二星级中国

“我们去成都的时机恰当，成都的

甲级写字楼。太古与远洋有超过20年的开

绿色建筑评价标识双认证为项目可持续发

产品正处在升级换代阶段，我们的项目达

April 2013

29

市场 到了绿色认证的标准，已与北京、上海同 步。”陈雷透露，“预计今年上半年写字 楼将进行销售。”

成为成都的城市文化商业新地标 作为一个位处城市核心区域的大型商

源于股东双方的互补。在商业地产管理上

陈雷表示：“项目计划于年底试营

太古占绝对优势，他们通过常年运营拥有

业，给商家一段培育时间，开业后将由太

许多商业储备人才；而远洋地产则有大量

古负责运营管理，综合体中的精品酒店和

地产开发方面的人才。地产开发是内地企

服务式公寓也是太古品牌，由太古统一管

业的长项，商户管理、物业运营则是香港

理。”

企业的长处。双方将通过合作达到互补和

业项目，大慈寺综合体并未选择分期建设

国内商业地产正处于发展初期，多数

的模式，陈雷解释道：“有些开发商采取

项目都在探索、总结教训和学习中前进，

“从目前招商情况来看，形势喜人，

分期建设，一是考虑现金流，二是基于对

相应的拥有丰富经验的优秀商业人才也十

我对该项目的未来充满信心。”陈雷豪情

项目缺乏信心，抱持试水心态。而大慈寺

分匮乏，而操盘过如大慈寺综合体这类规

满怀地表示，“由远洋地产及太古地产合

项目39万平方米的规模体量，将会一次性

模、品质项目的人才并且有全程项目经验

力打造的高端精品项目—大慈寺文化商

推出，它的商业功能、定位、格局将会让

者更是欠缺。陈雷谈到：“大慈寺项目在

业综合体，必将为成都贡献令世人瞩目的

人眼前一亮，从而产生极佳的影响力和号

人力资源方面具有得天独厚的优势，这也

城市文化商业新地标。”

睿东中心效果图

30

召力。”

April 2013

共赢。

大慈寺文化商业综合体 Daci Temple Cultural and Commercial Complex

F

ollowing the success of INDIGO in Beijing, Sino-Ocean Land and Swire Properties have chosen Chengdu for a brand new landmark development - the Daci Temple Cultural and Commercial Complex. The complex, located in the heart of Chengdu and the popular Chunxi Road shopping area in Jinjiang District, will be conveniently accessible from the interchange station of Metro Lines 2 and 3. The complex offers a total gross floor area of approx. 390,000 sqm and comprises an open plan retail centre offering 300 retail and dining outlets, a 100room urban intriguing hotel managed by Swire Hotels, serviced apartments as well as a Grade A office tower, Pinnacle One. The complex is scheduled to open in phases from 2014 onwards.

Combining elements from traditional Sichuan architectural styles, the complex embraces tradition and modern lifestyles as heritage blends effortlessly with a contemporary shopping environment. The design of the complex introduces an abundance of lanes, courtyards and plazas into the historical district, where shoppers and diners will mingle with workers and visitors.

Pinnacle One, the international Grade-A office tower, is situated in Dongda Street which is also known as the “Wall Street of Western China”.

Combining the expertise of Make from the UK, HDA from France and LPA from Japan, Pinnacle One will offer a high-quality business environment for premium office users. Pinnacle One comprises of a 200-metre high main tower and 3 podium buildings. The main tower has 47 floors above ground with typical floor area of approx. 2,000 sqm and a clear ceiling height of approx. 2.8 metres. The main tower is also equipped with Schindler S7000 high-speed elevators with advanced destination control system, as well as fully-fitted office interiors. Lifestyle amenities like causal dinning and supporting services to offices will be available on basement level 1. Basement level 2 to 4 will provide approx. 500 car parking spaces. Savills, the internationally renowned property consultant will provide quality property management services to the Pinnacle One.

大

慈寺文化商业综合体由远洋地产和太古地产在继北京颐堤 港之后再度联袂打造，位于成都中心区域锦江区，紧邻被

誉为“中西部第一商业街”的春熙路购物步行街，并将与地铁二 号及三号线交汇站春熙路站对接。综合体规划总建筑面积约39万 平方米，提供共300家零售店铺及餐饮选择的时尚购物街，一家由 太古酒店经营与管理、拥有100间客房的都会风尚酒店，服务式公 寓以及一座销售型甲级办公楼睿东中心（Pinnacle One）。项目 预计于2014年起分阶段开幕。 大慈寺项目以四川传统建筑风格为元素，创造性的将古建筑 兼容其中，融合了成都的文化资产及成都人对时尚创意生活的追 求，让商业与文化齐鸣共放。在项目设计中，综合体将在这一具 有历史感的片区引入开放式购物街区、庭院以及广场等元素，为 消费者、工作人士及游客打造和谐融洽的休闲体验。 睿东中心作为综合体中的国际甲级办公楼部分，坐落于被 誉为中国西部“华尔街”的成都东大街，汇集英国Make、法国 HDA、日本LPA等国际专业团队智慧打造，将以领先品质诠释国 际商务新内涵。办公楼由一座高约200米的主塔及三座裙楼组成。 主塔地上47层，标准层面积约2,000平方米，净高约2.8米，配设 迅达S7000高速电梯与智能预约派梯系统，将按照国际办公标准 精装交付；负1层规划为高品质的商务配套，包括优质简餐、生活 文化、商务服务等。负2至负4层提供约500个标准车位。第一太 平戴维斯(Savills)将为写字楼提供国际水准的物业服务。

大慈寺文化商业综合体效果图

April 2013

31

封面故事

寻找绿色能源 P33 新能源崛起 P44 电动汽车再发力 P48 环保产业迎来黄金期

32

April 2013

新能源崛起 清洁能源的发展仍需破除很多障碍 文 | 思闻

今

年1月至今，全国众多大城市出现

“中国在这几年形成了对清洁能源发

连续数天笼罩在有毒雾霾空气里的

展比较好的政策环境。”国家发展和改革

可怕现象，其中又以北京、上海等发达城

委员会能源研究所所长韩文科表示，“中

市为甚。很多大城市居民在出门上班时，

国对清洁能源的发展制定了一个雄心勃勃

不得不戴上了口罩。

的目标。中国认识到，要促进经济发展就

据官方发布的国家环境分析报告显

必须要发展清洁能源，改变能源结构。一

示，中国最大的500个城市中，只有不到

方面得益于较好的政策环境，另一方面也

1%达到世界卫生组织推荐的空气质量标

得益于改革开放：中国从世界各国吸收先

准；世界上污染最严重的10个城市有7个

进的技术和企业管理经验，促进国内经济

在中国。报告还指出，空气污染每年给中

发展。”

国造成的经济损失，基于疾病成本估算相

随着节能等理念的推广以及政策的引

当于国内生产总值的1.2%，基于支付意愿

导，新能源在中国本土的需求将会逐渐扩

估算则高达3.8%。

大，庞大的市场潜力和政策对清洁技术的

最近20多年，中国经济发展和能源需 求的增长几乎同步，并且严重依赖煤炭作

支持为产业发展创造了良好的环境，带来 了巨大的市场机遇。

为廉价可靠的燃料来源，煤炭所产生的能

据韩文科观察，中国在清洁能源、

源占全国能源总需求70%，约80%的发电

可再生能源，尤其是风能、太阳能这些领

依靠煤炭，而煤炭恰恰是对空气污染最严

域，这些年也在大力鼓励民营投资，而且

重的能源。

民营投资力量很强大，民营企业也很多。

国际能源机构(IEA)称，中国已赶超 美国成为第一号能源消费国。中国已是世

合作与竞争

界上最大的温室气体排放国，25%的农村

电力耗用一次能源占全球消费总量的

地区受到酸雨影响，2/3的大城市达不到世

40%以上，排放的温室气体占世界排放的

界卫生组织的最低空气污染标准。世界银

40%以上，意味着电力已经成为能源变革

行估算，环境污染给中国造成的直接经济

中最有潜力的领域。

损失约占中国国内生产总值的10%。

中国国电集团是一家综合性电力集

发展以风电、水电、太阳能、生物质

团，主要是从事电力生产，在全国拥有

能等为代表的清洁能源和可再生能源可以

数百家发电企业，还控股经营了几家上

减少能源产业对环境构成的强大威胁。中

市公司。国电集团公司副总经理米树华表

国近年来开始大力发展清洁能源、可再生

示：“新能源应该引领未来能源的变革。

能源和各种清洁技术，也制定了各种鼓励

因为我们也感受到了，新能源是解决金融

发展的政策。2005年制定的《可再生能源

危机以及气候危机的一个战略性支点。我

法》，要求到2020年将可再生能源消耗对

们集团最近这几年围绕新能源产业加大了

原生能源消耗的比例从10%提高到16%；

开发力度，特别是风机制造技术，还有火

2020年相比2005年要削减40%-45%单

力发电场、等离子点火技术以及太阳能制

位GDP的碳能源强度。2009年修订《可

造技术，做了大量有益的工作。”

再生能源法》，对可再生能源如风电、太

法国阿海珐是一家能源公司，主要

阳能、生物质能和清洁能源给予了税收优

业务包括地热发电和海上发电。“新能源

惠和财政补贴。

运动的方兴未艾给我们带来了极大的好

April 2013

33

封面故事

工作人员正在巡查光伏电站设备

全球500强企业都在中国有投资，可

执行官斯里瓦斯塔瓦（Anil Srivastava）

能很少有企业会说自己是外企，因为已和

在清洁能源和可再生能源发展方面，

说道，“过去几年，我们先是看到从欧洲

当地企业融合在一起。“当然保护主义确

中国政府决心很大，政策推进的速度也很

向外的技术转让，中国的国电公司也充分

实存在，这也是我们需要克服的最大困难

快。但是，无论是制造技术还是投融资的

地受益于这样的技术转让，实现了跳跃式

和最大障碍。” 吴昌华说道。

体制和能力都落后于美国和欧洲。 韩文科认为，中国企业也一直在努

发展。现在中国在这方面的替代技术已经 和欧洲的技术不相上下。”

技术与人才

力，包括大型国有企业，但要赶上美国和

他补充道：“风电是很好的例子，还

在美国、中国和欧盟之间的这场赛

欧洲，恐怕要花20到30年时间。“中国

有太阳能光伏发电，也是中国跳跃式发展

跑，出台政策都比较快，但如果比技术，

还是发展中国家，发展是有一个过程的，

的领域，带来了很多机会。中国不应该是

中国确实处于不利的位置。虽然中国生产

比如教育系统造就不出这么多清洁能源的

这种技术的终点，我们也可以和中国建立

了很多风电以及太阳能设备，但是核心技

技术人才。教育系统的改革和培养人才是

技术合作的伙伴关系。”

术都不在中国手里。在技术上中国对于欧

缓慢的，中国出台了人才培养的政府计

盟和美国有较强的依赖性。

划，目前还是很缺乏技术人员。中国发展

有了相对优惠的政策，企业也发展很

34

基数比较低。”吴昌华说道。

处。”阿海珐可再生能源事务部全球首席

好，各方都没有感受到威胁，但是评论人

“核心技术往往都是价格比较昂贵，

可再生能源和清洁能源，核心技术都在外

士还是认为在中国和美国之间，在中国和

非常复杂的技术。与其进行你死我活的竞

国手里。但是中国希望这些都进来，最先

欧洲之间存在着竞争，而且也嗅到了一些

争，还不如一起各施所长，共同实现今后

进的核电技术和清洁能源技术都可以拿到

紧张的气氛。

10年清洁能源的目标。”吴昌华表示。

中国来，中国人并不怕，而且付了比较高 的价格来购买。这就是中国对外开放的政

国际气候组织大中华区总裁吴昌华

现有的核心技术和前瞻性技术75%

说道：“竞争确实存在，这是好事。除了

都是西方的。吴昌华觉得，中国在技术上

美国、中国、欧洲之外还有其他国家和地

的增速还是令人可喜的。当然，除了资金

清洁能源领域的知识产权保护也是重

区，比如阿拉伯世界、印度，除了中美欧

的投入外，中国还必须打造健康的生态体

要问题。里瓦斯塔瓦谈道：“中国必须在

三强之外，其他参与方也有很重要的作

系来鼓励价值链，鼓励人才进行更好的研

知识产权方面占有一席之地。”

用，不是说这样一个规模就已经定下来

发。“中国外汇储备非常大，为了能够实

韩文科指出：“中国对清洁能源知识

了。大家可以携手画一个更大的饼，每个

现长远发展，必须在研发方面花力气。我

产权的保护是非常在意的。在中美能源交

人可以分到更大的，这样更好。”

非常看好中国前景，但是目前技术研发的

流对话中，美国人也经常提到这个，但是

April 2013

策。”他说道。

正在排放污染物的火电站

做了一番讨论后，他们就感觉到这个问题

有了一些想法，出了一些政策。碳金融市

是到2020年清洁能源比重要达到40%。”

可能不存在了。因为中国一直在保护知识

场确实开始崭露头角，但是还需要花更多

米树华说道。

产权。中国这么大，各种法律法规的落实

时间才能逐渐成熟。” 该公司正在从事碳

确实有一个过程。就像节能环保一样，如

排放交易。

果中国企业都按完全按照法律去做，那么 中国的环境就很好了。”

中国目前没有规定企业一定要有减排 额度才可以进行买卖，但财政政策对金融

他憧憬道：“如果某天早上醒来，发

企业要贷款和项目审查都有一些规定，如

现已经有了明确的政策框架，在全球范围

果不符合绿色发展的国家政策，贷款就要

“在清洁能源领域的知识产权，基本

内有一个统一的碳交易市场，那么我想一

受到限制。相反，如果发展清洁能源和清

上各大公司，我认为他们都不得不承认，

定会感觉超棒。但是毫无疑问，我们还是

洁排放技术等，更容易得到贷款。当然这

中国是在保护他们的知识产权。”他说

需要等待更多的资金进入这个市场，目前

不是严格意义上的碳金融，但中国在这方

道。

还有很多的不确定性。”

面已经有所体现。

碳市场运作 推进清洁能源计划在很大程度需要碳

在企业的投资决定中是不是考虑了全

美国、欧洲都在呼吁碳金融交易，中

球碳排放价格和中国当地的碳排放价格？

国也在跟进研究碳金融市场，很多机构都

有没有考虑当地法律法规的影响？

在研究。韩文科说道：“中国建立了一些

金融的支持。碳排放交易是很有用刺激融资

“关于碳排放价格问题，我们在企业

交易所，目的就是要进行碳交易。中国也

的工具，金融机构能够参与到可持续的绿

经营管理过程严格遵循政府制定的政策，

会很快在这些方面跟进，这个市场肯定会

色经济发展当中。欧洲以前比较领先，现

也就是严格认真地考虑碳排放问题。”米

有，而且一旦发展起来肯定在世界上是很

在美国也在迎头赶上。是否还要再等一段

树华表示，中国政府在哥本哈根会议之

大的市场。”

时间才能看到全球统一的碳市场的出现？

后，做了减排的承诺，国电集团围绕政府

世界资源研究所和中国商务部国际贸

“碳交易市场目前最主要的一些政

提出的减排目标，确定以新能源引领企业

易经济合作研究院去年联合撰写的一份报

策还悬而未决，这就带来了很多不确定

发展的战略。“我们的重点是突出火力发

告称，中国在风能和太阳能行业的对外直

性。”益可国际环境金融有限公司首席

电厂的清洁燃煤的技术，建设节能环保的

接投资不断增长是多种因素综合作用的结

执行官保罗·凯利（Paul Kelly）认为，

绿色电站。再一个就是着力加大水力发

果：市场力量—需求方寻找价格更低的供

“碳排放市场的交易机制正在逐渐形成，

电，还有就是紧紧围绕新能源产业，如太

应方；东道国的优惠政策，以及中国政府

美国、日本、澳大利亚、新西兰、韩国，

阳能、风能以及核电的开发利用，提高清

的支持政策。

某种程度上还有中国，已经在碳交易方面

洁能源的利用比例。我们的绿色发展目标

该报告还指出，作为全球市场的后

April 2013

35

封面故事

起之秀，中国需要学习很多东西。中国投

海上风能资源开发潜力，目前已有38个项

资者面临的挑战来自各个方面：政治、经

目，1650万千瓦项目在开展前期工作。

先安排下去。 主要沿海省份都有海上风电项目，或

济、法律、商业和文化。在国际上，中国

根据《可再生能源发展“十二五”规

者正在开展前期工作，如果均能在“十二

缺少经验，缺乏对国际低碳市场运作方式

划》，2015年累计并网风电装机达到1亿

五”期间开工，500万千瓦的目标并不难

的了解。在国内，很难从中国的银行获得

千瓦，年发电量超过1900亿千瓦时，其中

实现。而这一目标只是释放中国发展海上

贷款用于海外投资，尤其对中小型企业而

海上风电装机达到500万千瓦，基本形成

风电的信号，更重要的是，通过500万千

言。中介服务存在明显的能力缺口，包括

完整的、具有国际竞争力的风电装备制造

瓦项目的实践，海上风电开发管理体系得

金融机构和行业协会。

产业。到2020年，累计并网风电装机达到

以逐步建立，为今后的发展打好基础。

海上风电起飞 国家能源局副局长刘琦近期表示，风

2亿千瓦，年发电量超过3900亿千瓦时，

对于2015年海上风电装机达到500万

其中海上风电装机达到3000万千瓦，风电

千瓦的目标，中国水电水利规划设计总院

成为电力系统的重要电源。

副总工程师易跃春认为，不必为目标能否

电已经成为中国仅次于火电、水电的第三

除了技术和施工瓶颈，海上风电要想

完成担忧。“除了特许权项目外，还有其

大电力，目前还没有任何一种电力能取代

发展还有两个关键性要素：一是海上风电

他项目和示范项目蓄势待发，只要政策逐

风电的地位。

开发管理体系的成熟；另一个则是电价政

步明朗，前期工作逐步到位，就具备了加

策的引导。如此巨额投资以及高风险，技

快推进的潜力。”他表示。

中国海上风电虽然遇到各种瓶颈，但 对于海上风电技术的探索已很火热。沉寂 了两年多的第一批海上风电特许权招标项 目，今年将会迎来新的转机。

术、管理、电价体系尚需提升和完善。 为了促进海上风电的发展，国家能

页岩气革命

源主管部门的态度也发生了转变。国家能

今年1月初召开的全国能源工作会议

上海、江苏、山东、河北、浙江、广

源局新能源司最近表示，长期会考虑推出

提出，今年要大力开发页岩气、煤层气等

东海上风电规划已经完成。辽宁大连、福

海上风电标杆电价政策，鼓励企业积极投

非常规油气资源，大力发展新能源和可再

建、广西、海南等省的海上风电规划正在

资。开发商只要具备条件可以向国家能源

生能源，积极发展水电，协调发展风电，

完善和制定，初步确定了4300万千瓦的

局提出申请，能源局原则上会把前期工作

大力发展分布式光伏发电。其中提到的清 洁油气——页岩气日益受到关注。 在如今气候变化问题日渐增多的环境 下，美国的页岩气变革引发了一场激烈的 全球性能源运动，欧洲、亚洲、非洲和南 美很多国家开始对自己的页岩气资源进行 评估。北美一直在天然气开发领域处于领 先地位，该地区不仅是全球最大的天然气 市场，而且也正在实施行业变革和引领全 球新趋势。 油气行业领域的全球策略师邓肯·克 拉克（Duncan Clarke）最近指出：“亚 洲油气行业正在挺进新的领域，主要生产 大国和企业正瞄准新的策略，从巴基斯坦 到新西兰的这片广袤区域上也再次发现了 新的机遇。” 今年2月21日，中石油天然气股份有 限公司与美国康菲石油公司签署协议，前 者将获取后者两处位于澳大利亚的勘探资 产部分权益，双方还将共同进行中国四川 盆地页岩气的开发研究。咨询机构安迅思 息旺（ICIS

海上风电产业迎来新的转机

36

April 2013

C1）认为，这象征着中国企

业进一步涉足海外的页岩气勘探开发。

据安迅思息旺观察，中国页岩气的

权招标将会逐渐向外资和民营企业放开。

备等新兴的产业确实出现了产能过剩。

勘探开发仍然处于初级阶段，除了加强与

“独立石油公司已经开辟出新的天

中国光伏产业联盟的数据显示，全球

有页岩气开采经验的国外能源企业合作学

地，国家石油公司也制定出全球策略，另

太阳能光伏总产能大于实际需求量1.5至2

习先进的开采技术外，还需要依靠放开的

外授权机构和政府部门也在寻求笼络勘探

倍。2011年统计的中国光伏企业数为262

竞争环境。而无论是何国企、私企还是外

资金。”策略师克拉克如此描述亚洲油气

家，2012年已经跌落到112家。但当年建

企，在产业发展没有成熟之前，都面临着

行业在页岩气领域的举动。

成的光伏组件产能达是2009年的7倍。

前景是美好的

现阶段主要依靠海外市场。以光伏产业为

页岩气的开采技术、资金投入、环境污 染、市场环境等方面的难题。

“一些领域的本土市场尚待挖掘，

安迅思息旺近期发布的《中国页岩气

一些分析人士指出，对页岩气的开发

例，海外市场的贸易摩擦，使得行业企业

市场调研报告》显示，中国陆域页岩气地

利用应保持理性，切勿一哄而起，以避免

发展面临被动的形势。”清科研究中心分

质资源潜力为134.42万亿立方米，可采资

重蹈光伏产业的覆辙。而作为全球最大的

析师肖珺表示，“光伏企业在出口海外市

源潜力为25.08万亿立方米（不含青藏地

光伏产品加工与制造国家，近一年来，光

场的同时，应该不断扩大内需市场，后者

区）。现有区块属于中石油、中石化、中

伏产业的情况确实有点不妙。

才是该产业应该着力解决的问题。”

海油和延长油田，四大企业获有优先开采 的主动权。 国有油气公司垄断页岩气探矿权可能 会不利于页岩气领域的发展。上述报告指

无锡尚德太阳能电力有限公司日前宣

从长远来看，包括风能和太阳能在内

布进入破产重整。在欧美国家反倾销、反

的清洁能源的前景是美好的。“从绿色发

补贴贸易政策的的打压下，由于海外市场

展，应对气候变化来看，中国的可再生能

萎缩，光伏行业整体发展陷入困局。

源还谈不上过剩，比例还很小，总量也很

出，参与页岩气探矿权招标是其他企业获

今年3月全国人大会议期间，国家发

得上游资源的唯一方式，而页岩气的探矿

改委官员对记者承认，近期光伏、风电设

少，现在仍然处于发展过程中。”韩文科 说道。

April 2013

37

COVER STORY

Looking for a green future With worries over the Fukushima disaster subsiding, will China turn from wind and solar energy back to nuclear?

38

April 2013

W

h en Chinese technocrats were drafting the grandiose economic blueprint that would carry the country through 2015, they had no idea what would happen just days after its release. In March 2011 – the same month China launched its 12th FiveYear Plan, which proposed a huge expansion in nuclear power – an earthquake hit off the shores of northern Japan, sending a tsunami over coastal areas, killing more than 12,000 people and putting the island nation on the cusp of a nuclear disaster at its Fukushima plant.

The incident also set in motion an international wave of resistance to nuclear power. Despite its top-down economy, China was not immune to the public discontent surrounding nuclear power: Beijing halted approvals on new nuclear projects and ordered a reassessment of existing plants.

The sudden stall in the development of nuclear plants has been a boon for China’s wind and solar energy sector. Wind power output surged past nuclear last year, and government support for the wind and solar has climbed steadily since 2011. The remaining question is whether or not these two renewable energy sources can maintain momentum in the Chinese market as the government gradually allows nuclear development to resume.

Although it’s unclear what the next five-year plan will look like, some

industry insiders have predicted that post-Fukushima wariness over nuclear energy will have waned by 2016, allowing China to revamp its program.

New clear days The hiatus in plant construction was an about-face on China’s nuclear ambitions. China’s last five-year plan – the government’s most important and wide-reaching economic policy statement – called for accelerated construction of reactors across the country, putting China on track to become the world’s largest nuclear power generator. By 2020, it planned to operate more nuclear facilities than the rest of the world combined.

This massive push ground to a halt after the disaster in Japan. “This wasn’t just China, this was everybody that dropped their focus on nuclear power,” Lin Boqiang, director of Xiamen University’s Center for Energy Economics Research, said of the effects of the Fukushima incident. “As long as the overall environment doesn’t deteriorate, it will pick back up again. But the time when this will happen is not clear.”

At present, nearly 30 nuclear plants are under development in China. Yet the landscape has changed dramatically since 2011. China allowed some nuclear projects on the coast to resume in October, although at a far slower pace of development, while inland projects remain stopped entirely, Lin said.

The government also increased the technical requirements on unfinished plants, requiring them to adopt the

April 2013

39

COVER STORY

top international standard of nuclear technology, known as “generation 3,” on new plants. But many plants in development are stalled at generation 2.5, according to Lin, and it’s unclear how long they will take to upgrade.

Day in the sun The 12th Five-Year Plan also pointed to solar and wind power as sectors for high growth through 2015. But the unforeseen decline in nuclear energy development after the Japan disaster helped put further emphasis on other forms of alternative energy, namely wind.

“If there was no incident [at Fukushima], the nuclear power output would be at least the same as wind power now,” said Sun Xi, an analyst at environmental and governance research firm Sustainalytics. “The reduction of nuclear projects really gave the opportunity to the wind power.”

The opportunity has translated into huge growth for the wind power sector, especially massive wind farms in China’s northwest. In 2006, wind turbines produced less than five terawatt hours of electricity a year in China, while nuclear produced about 60 terawatt hours, according to data from Washington DC-based think tank Earth Policy Institute. By 2012, wind and nuclear were producing 100 terawatt hours apiece, and wind energy has since surpassed atomic power.

Solar energy capacity is also ramping up, although progress has been slower than with wind. In 2012, the country produced 7 gigawatts of solar power, and China will look to add 10 more this year. In December, state-run Xinhua News Agency said high level officials were considering doubling

40

April 2013

the 2015 goal of 20 gigawatts of solar power to 40.

“There are significant efforts to develop wind and solar right now,” said Timothy Lam, a wind and solar analyst at Citi Research in Hong Kong.

“That is a clear signal that the Chinese government is looking at these renewable energies and will continue to encourage them at sensible prices.”

Headwinds China’s renewable energy goals are reachable, but analysts said the market will first need to weed out serious problems.

Government support for the sector has brought on great oversupply of solar and wind equipment in China,

which has led to falling margins, especially for solar companies. Chinese solar maker Suntech, whose primary subsidiary filed for bankruptcy last week, deliberately held down the price of solar panels in order to gain market share. Such practices have made the sector largely unsustainable, and experts said the industry must eliminate superfluous manufacturing before it can be revived.

The quality of China’s solar and wind products is also highly questionable. A lack of technical skill in the market has created the same pollution the government has tried to reduce through its support of alternative energy, Sun said. The industry should push for these initiatives now before

封面插画师 / Cover Illustrator 双麒，来自北京的80后艺术家，热爱漫画、电影、怪兽。擅 长短篇漫画和插画，作品《臆先生》曾收录于《独唱团》。 Beijing-based artist Twoqee loves manga, movies and monsters. He is a full-time designer and uses his spare time to draw cartoons and other illustrations. His work has been included in many different comic anthologies such as "Party," which contains his comic "Mr. Yi." For more of his work, see http://edge.neocha.com/agency/

the government shifts its focus back toward nuclear power.

Although China plans to continue expanding its wind and solar capacity far into the future, some insiders have said that nuclear power could be back on the agenda with introduction of the next five-year plan in 2016.

Hu Yu, chairman of China Guangdong Nuclear Power Holding, said last week that although China’s goals for nuclear power have stalled during the current five-year economic planning period, starting them again would “not be a problem” during the next half decade.

If the memory of Fukushima wanes, powerful stakeholders in China’s stateowned nuclear power sector may put China’s atomic ambitions back on track. Before long, government attention could revert back to nuclear power and wind and solar could lose some of the government support. Proponents of wind and solar should push to straighten out those markets before this window of opportunity closes.

April 2013

41

COVER STORY

Belly up Suntech’s bankruptcy should spark a broader loss of faith in US-listed Chinese companies

T

he demise of Suntech, a Chinese solar company, will be a familiar story for American readers who followed the bankruptcy of US-based Solyndra: the rare toppling of a government-backed hightech champion. The difference is that Suntech is a much large company, and when it goes under, it will likely take far more government and shareholder funds with it.

Suntech’s undoing has not been short on drama, what with the noisy removal of its founder, Shi Zhengrong, from his position as chairman earlier this month. On March 20, news broke that the company’s main China unit would go bankrupt after failing to make a payment on a maturing US$541 million bond due the week prior. Suntech’s shares plummeted to

42

April 2013

US$0.59 at market close on Wednesday, down from an all-time high of $88.35 in 2007.

There are many reasons for Suntech’s collapse. For one, Shi was known more for his scientific ability than his business sense. But most of the blame should be laid with Chinese policies.

With Beijing’s approval, local governments engineered an exponential increase in China’s capacity to make solar panels. Suntech’s solar module capacity more than quadrupled between 2007 and 2011 to 2,400 megawatts, making it one of the world’s largest solar product manufacturers.

The company used this massive supply to deliberately push down prices and capture market share, at the expense of its own and others’ profit margins. “Solar manufacturing over

the past eight years has been an excellent way to turn a big fortune into a small one,” Bloomberg quoted Jenny Chase, lead solar analyst at Bloomberg New Energy Finance in Zurich. Solar cells cost roughly US$0.38 per watt in March, just a fraction of the US$1.50 price tag in October 2010.

That strategy ultimately proved fatal for Suntech. Its debts spiraled to roughly US$2 billion by the end of August, compared to a net cash position of only US$244 million. On Monday, Chinese banks petitioned a court to declare the company’s Jiangsu province-based business, Wuxi Suntech, insolvent.

A conglomerate owned by the Wuxi government will take over Wuxi Suntech, which employs roughly 10,000 people locally. The company said that its parent, Suntech Power,

would not go into bankruptcy, sparking fears that Suntech’s assets – which are mostly tied up in Wuxi Suntech – will be dissolved to pay back Chinese creditors, while foreign lenders will be left with the losses.

Suntech’s offshore debt is considerable. The US$541 million in convertible bonds due this month were issued by Suntech’s listed unit, which is registered in the Cayman Islands.

The bonds are mainly owned by USbased specialty shops or distressed funds, including Mount Kellett Capital Management, Driehaus Capital Management, Pioneer Investment Management and Silverback Asset Management, according to data firm Ipreo.

The Cayman Islands’ unit holds about half of Suntech’s total debt, according

to its filings with the US Securities and Exchange Commission. In addition, it has raised US$743 million from Wall Street in two separate stock offerings, one in 2005 and another in 2009.

Suntech itself has implied that its offshore bonds are not likely to be repaid. The company said in the presentation to investors last November that “loans may be available to refinance existing bank debt as it matures, but credit support to repay offshore debt is not available.” At the time, Suntech said it didn’t think it could issue bonds in China to raise cash, and that it didn’t have assets it could sell to repay the debt. Instead, it said it might restructure its foreign debt.

Suntech seems likely to offer bond holders a bond with a longer maturity

as well as an equity stake in the company. But as the company continues to flounder, these may ultimately be worth little to nothing. US bondholders are preparing to sue Suntech, but because Chinese courts mostly ignore foreign judgments, it’s unlikely that any ruling in Cayman Islands’ courts could force Suntech to pay US investors back.

If Suntech’s foreign investors lose out, that will be a clear warning for investors in other Chinese companies.

The market has long speculated about the risks of investing in Chinese technology companies, such as Baidu and Sina, that have listed in US markets through a variable interest entity structure that have operated in a legal gray area.

US-listed shares of other Chinese companies will certainly suffer. A significant share of Chinese companies that have listed in New York have done so through a shell company in the Cayman Islands or another offshore jurisdiction. Legally, there is little to prevent a Chinese company from walking away from its agreement with the USlisted partner, a point the Suntech case may drive home to investors.

If China’s growth slows in coming years, the market could see a wave of bankruptcies. Risks are particularly acute in the highly leveraged solar sector: China’s ten largest solar companies had combined debt of US$17.5 billion at the end of the first quarter of 2012, according to investment bank Maxim Group. If company’s begin to succumb to their debt loads, all investors will suffer. But investors in the US-listed arm of any heretofore government-backed champion could particularly stand to lose out.

April 2013

43

封面故事

电动汽车再发力 大城市的雾霾污染给电动汽车带来了新的商机 文 | 铁剑 3月中旬举行的全国两会期间，全

在

日本的汽车厂商通用、本田、日产、丰田

客户的吸引力。咨询公司IHS上海办事处

国政协副主席兼科技部部长万钢乘

等，都是较早进入中国电动汽车市场的公

高级分析师周泉认为：“电动汽车在一二

坐着比亚迪E6电动车前去参加政协经济组

司。

线城市不会有太好的前景。”因为在这些

联组会议，以此来表明他对电动汽车的支 持。

去年，国务院的发展规划提出，争取 到2015年，纯电动汽车和插电式混合动力

去年，中国市场上的汽车销量已占 到全球销量的一半。中国汽车工业协会公

汽车累计产销量达到50万辆，到2020年超 过500万辆。这是宏大的规划。

文化已经形成。 对于中国那些倾向于购买环保型汽车 的消费者来说，价格和生活方式的改变也

布，去年共销售新能源汽车12791辆，其

然而，美国市场研究机构派克研究

是影响购买的因素。比亚迪FD3M电动汽

中纯电动汽车11375辆。相比庞大的汽车

（Pike Research）公司报告显示，到

车的零售价为16.98万元，而普通的桑塔

销量，有点微不足道。

2015年，中国电动汽车年销量预计仅有

纳轿车售价在10万元-15万元之间。与之

45000台；而到2017年，预期销量也仅有

相比，享受绿色生活似乎要付出更大的成

15.2万台，还不到轻型车市场的1%。

本。桑塔纳汽车每年的燃油成本约为1万

但是，大城市的雾霾污染或许给低迷 的电动汽车市场带来了机会。因为PM2.5 是形成霾的主要污染物，而机动车尾气

中国还没有形成西方那样注重环保的

元，而全混合动力汽车能最多节省50%的

是PM2.5的主要排放源。据中国科学院

文化激励措施，国内汽车买家一般不会关

燃油费，综合比较后，还是标准的汽油型

“大气灰霾追因与控制”专项研究组发布

心汽车的排放，而八成以上的消费者都是

汽车省钱。

的监测结果，今年1月份京津冀共发生5次

第一次买车。

强霾污染过程中，北京地区机动车排放是 PM2.5最大来源，约占25%。 由于能源、环境、气候变化等全球性

清洁能源汽车这一新颖的环保概念并

主。如汽车型号和电池型号的不同导致行 驶里程出现巨大的落差；受交通和地形等

和比亚迪E6这样的品牌也就失去了对中国

因素影响，实际行驶里程通常要小于标称

成为全球汽车工业发展的方向。 来自麦肯锡的分析数据显示，新能源 汽车技术可以显著减少碳排放。而电动汽 车除了低碳环保之外，还表现出摆脱能源 依赖以及在电网负荷低谷时段进行常规充 电的优势。同时，有研究表明，同样的原 油经过粗炼发电充入电池驱动汽车要比直 接精炼成汽油驱动汽车效率更高。此外， 电能的来源也比较广泛，新兴的洁净发电 模式如光伏、风能、核能以及潮汐等都能 够被直接应用，而且采用洁净能源，对环 境的污染也将降到最低。

陷入困境 最近10年，中国汽车制造商已经发 布了40款电动汽车，并宣布将有31款插电 式混合动力电动汽车于2015年上市。比亚 迪、福田和上汽集团等国内汽车厂商早就 推出了混合动力或插电式电动车。美国与

April 2013

其他问题也在考验着电动汽车的车

不能吸引中国消费者，因此像丰田普锐斯

问题的出现，电动汽车作为一种解决方案

44

汽车保有量很高的大城市，有车族的消费

大学生正在体验电动汽车新能源零排放的科技运用

行驶里程；而受限于充电站数量，电动汽

王秉刚指出，动力电池是电动汽车的

系统的改造比较小，因此在特定阶段中，

车驾驶员只能在充电站的半径范围内驾驶。

核心，希望组建“下一代动力电池国家研究

甲醇汽车具有一定的规模商用潜力，并带

体系”，培植有竞争力的电池产业集群。

来高比例甲醇汽油市场的发展机会。

“中国的电动汽车制造商还没有研发 出先进的技术来吸引消费者，而政府设定

国内汽车制造商也闻风而动。近期，

然而，高比例甲醇汽油和甲醇汽车的

的目标也不大可能达成。”派克研究公司

比亚迪董事长兼总裁王传福曾公开表示，

发展，面临着众多的不确定因素。“从长

分析师加特纳（John Gartner）说道。

今明两年将是新能源汽车发展的“拐点”，

期发展机会来看，首先就是甲醇汽油的燃

一位业内人士把电动汽车和混合动力

希望在新能源汽车领域有所突破。据悉，

烧性能及安全性。”清科研究中心分析师

汽车所遭遇的困境归结为三个相关因素：

比亚迪在新能源领域形成的产业包括光

肖珺表示，“对于甲醇汽油厂商而言，渠

政策和基础设施、消费者和汽车制造商，

伏、电池、LED、储能电站和电动车等，

道建设与突破是值得重点关注的课题。”

已制定了未来10到20年电动汽车的发展规

核心技术

前景看好

划。

电动汽车在目前市场上的尴尬局面是

但是，电动汽车的技术尚不成熟。现

AutoTrader.comde的数据显示，从

显而易见的。国家863“节能与新能源汽

阶段，中国在电动汽车高端技术方面总体

去年到今年3月，全球消费者对替代性燃料

车”重大项目监理咨询专家组组长王秉刚

上还不具备竞争优势，电池、电机、电控

和高燃油效率车型的总体购买兴趣提高了

认为：“要充分了解新能源汽车渡过艰难

等关键零部件技术基础仍显薄弱。

54%。

的导入期，仍然需要一段时间。”

直接购买国外的电动车企业是一个办

自2008年以来，美国、日本、欧盟

电动汽车推广的最主要难题之一是基

法。去年7月停产的美国菲斯科是为数不多

相继发布实施新的电动汽车发展战略，加

础设施建设，没有充足的充电设施，消费

的豪华电动车制造商，该公司仅有的卡玛

大了研发投入与政策扶持力度。日本以产

者不会购买电动汽车。截至去年底，北京

插电式混合动力豪华跑车销量不振，目前

业竞争力为第一目标，电动汽车的研发和

电力公司已建设充电桩1080个，主要供

正在从中国和欧洲寻找买家，先后传出与

产业化均走在世界前列；美国以能源安全

公交车和环卫车充电使用，覆盖面远远不

中国的万向集团和经销商广汇集团以及东

为首要任务，强调插电式电动汽车发展；

足。国务院发展规划要求到2015年左右，

风汽车洽谈购买的消息。

欧盟以 CO2 排放法规为主驱动力，重视

在20个以上示范城市和周边区域建成由40 万个充电桩、2000个充换电站构成的网络 化供电体系。

发展纯电驱动汽车，仅德国国家电动汽车

替代燃料 在替代性燃料中，甲醇汽油是不错的

平台计划就投入近50亿欧元（约合400亿 人民币）。

选项。中国国家工信部去年3月28日发布

与电动汽车相关的基础设施充电系统

《2012年工业节能与综合利用工作要点》

产品行业也迎来快速建设和发展机遇。目

称，将组织开展甲醇汽车试点，指导和推

前，电动汽车充电设施市场竞争正日趋加

进山西、上海、陕西编制试点实施方案。

剧，通用电气、西门子、ABB、耐德、博

甲醇汽油由甲醇与汽油以及添加剂混

世等跨国公司已纷纷加大开发电动汽车充

合而成，作为车用燃料汽油替代品，具有

电设施产品。据预测，到2015年，全球电

价格低廉、排放清洁的优点，并且可以降

动汽车的充电点将达约470万个，全球电动

低石油在能源结构中所占比例。根据甲醇

汽车充电设施的年销售额将达180亿美元。

在成品油中所占比例，甲醇汽油可被标号

美国能源部长朱棣文宣布到2015年

为M15（甲醇占15%）、M30、M85、

实现100万辆电动汽车的销量。而业内人

M100等。甲醇汽油研发试点在国内外已

士对电动汽车在全球范围内的发展做出预

经有一些案例，中国自上世纪80年代以

测：5年内，插电式混合电和纯电动车总销

来，对于甲醇汽油的研究也有了30年左右

量的全球将达到320万辆，复合年增长率

的经验。山西、陕西、浙江等省份在一些

将达到106%；到2015年，中国将成为电

地区尝试推广了M15甲醇汽油，M85以上

动汽车的最大市场。

的高比例甲醇汽油在还没有大面积推广试

业内人士普遍认为，从发展前景看，

用的经验。工信部出台的工作要点中将进

电动汽车经济、环保，没有尾气排放，会越

行试点的就是适用M85、M100的高比例

来越受到人们的青睐。“从长远来看，中国

甲醇汽车。

的发展规划会推动全球电动汽车市场的发

相对于电动车，甲醇汽车对汽车动力

展。”派克研究公司分析师加特纳说道。

April 2013

45

COVER STORY

Batteries not included The road for electric vehicles is a bumpy one. China should choose another route

A

nyone in China looking at the smog outside their window might be shocked to learn that China is a leader in any kind of green technology. That hasn’t stopped many in the auto industry from proclaiming that China will lead the charge to save the electric car.

Of course, it’s easy to lead an industry where competition has dried up.

Functional electric cars have existed since at least the 1990s but have stalled in the West because they are too inconvenient and expensive to appeal to average drivers.

China is certainly doing more than most countries to make practical electric cars a reality. Auto and battery maker BYD led the charge by unveiling a fully electric vehicle in 2011, while Wanxiang Group won its bid for bankrupt A123 last year, giving it the bat-

46

April 2013

tery technology to make electric vehicles. Geely Automobile appeared set to join them with what seemed to be its imminent acquisition of US electric car maker Fisker, also on the verge of bankruptcy. But that deal has reportedly fallen apart.

Far from missing out on China’s rush to develop electric cars, however, Geely may have dodged a bullet. On the surface, it may appear to be the right time for Chinese auto makers to go electric. After January’s so-called airpocalypse in Beijing, government leaders have pledged to curb runaway pollution, including cutting back on vehicle emissions. In the weeks to come, that will likely translate to a concrete plan to further promote electric vehicles, including more subsidies to bring down the high sticker price on such cars, argued one investment

bank analyst, who requested not to be identified.

Companies and the government, however, need to differentiate between policies that will succeed in putting a large number of electric cars on the road and those that will merely finance the continuation of a moribund industry. “It’s a great idea and a worthwhile ambition, but there are genuine, really big obstacles between here and viable electric vehicles,” said Michael Dunne, head of the independent auto consultancy Dunne & Company. Electric vehicles cost too much, the distance they can be driven on a single charge remains too short and China lacks of sufficient charging stations, he said.

Why bother?

Scott Laprise, a Beijing-based auto analyst at CLSA, is similarly skeptical of electric vehicles but points out another reason why the government and companies have pushed “EV” technology. “Why do they bother?

Why go with all this talk and push EV EV EV?” Laprise asked. “The only answer I can come up with is it’s good news.”

By announcing plans to support electric vehicles, the government generates positive publicity and gives the appearance that it is doing something about pollution. That directs attention away from factories and power plants, the main source of air pollution, as cars themselves produce relatively little pollution. The density of cars is far

ly if China switched from promoting manufacturers to develop electric vehicles to produce fuel cells instead, he said.

Walking the middle path

higher in places like New York City or Los Angeles, but those cities aren’t nearly as polluted as Beijing, Laprise argues.

Public transit and taxi fleets are one of the few areas where electric vehicles might be feasible in their current form, said Laprise and Dunne. Public buses have set routes and charging stations could be set up along those routes.

Taxis have down time throughout the day, and a taxi driver could recharge his car during lunch, for example. The scale of such fleets could make it more cost effective. BYD has already gone that route, selling some 700 electric buses and 1,700 electric cars, mostly for use as taxies.

A consumer likely can’t justify the current cost of buying an electric car, even with subsidies, but there are other creative ways that the government could get people to buy, Laprise said.

“Where they could really make this work is to create a lot of rules where everybody gets away with murder if you drive an electric car. You can drive in a bus lane, free tolls, taxes go down, maybe cheaper fuel,” he said. Or the government could allow electric cars to circumvent restrictions that certain big cities have that only permit driving on certain days, depending on the car’s license plates. “Then it would be a situation where people don’t want the car but they make it so convenient that you get one.”

Without such incentives, consumers, in the end, may be better off leaving electric vehicles to bus and taxi fleets and waiting for more promising alternative energy cars to come.

Fuel cells, most commonly powered by hydrogen, seem promising as the cost comes down and existing gas stations could be fitted to refuel such cars, Laprise said. That could happen quick-

For now, promoting hybrid vehicles that have gas engines and small rechargeable batteries would be the most practical way to entice consumers into cutting emissions. Hybrid technology has proven popular in the US, even if it’s still a small subset of overall drivers there.

But, when China began promoting alternative vehicles in the late 2000s, it skipped over hybrids because that technology is mostly owned by Japanese automakers that the government did not want companies to rely on, Dunne said. “[China] preferred to say, ‘You know what, Japanese, you do the hybrids. We’re going past you with electrics and we’ll lead the world in electrics and we’ll own the technology.’”

Since 2009, policymakers have only been talking about electrics, although that could change in the weeks to come. With little progress toward an appealing fully electric car, the government could put aside their pride and use hybrids to start cutting emissions now while waiting for batteries to become less expensive and later fuel cell technology, which likely won’t hit the market until after 2020, Dunne said.

Even then, if the US is any indication, hybrids likely could only subsume up 5-10% of the car market in China, he said. That would have only a minor impact on emissions. But at least that would be a step in the right direction for an alternative car industry stuck in neutral.

April 2013

47

封面故事

环保产业迎来黄金期 在高度依赖扶植政策的同时应大力开拓内需市场 文 | 晗军 的1/2。 太阳能风能产业深陷产能过剩与欧 美国家反倾销调查，身处股权投资的冬 季，VC/PE仍不减清洁技术的投资热情。 在太阳能、风能与LED节能灯产能过剩的 冲击下，VC在清洁技术的投资布局趋向分 化，在环保新材料与节能减排细分领域寻 找“黑马企业”。如北京高能时代环境技 术股份有限公司是国内首家引进HDPE膜 防渗技术，专注固体废物、废液等污染物 防治技术研发和环境工程技术服务的清洁 技术类企业。 清科研究中心分析师吴晗瑄认为， 在建设“美丽中国”的大背景下，必然会 造成一些经济领域的涨落，有的行业会崛 起，有的会衰落。环保产业受益于政府 空气净化器热销

的“还债”行为，将迎来高速发展。 环保产业是指在国民经济结构中，以

家

住北京的顾先生今年已经是第二次

场发展潜力来看，目前中国空气净化器的

防治环境污染、改善生态环境、保护自然

购买家用空气净化器了，1月份为

普及率不足1%，而有些发达国家空气净化

资源为目的而进行的技术产品开发、商业

自家客厅安置了一台，春节过后又为小孩

器家庭普及率已超过34%，市场发展潜力

流通、资源利用、信息服务和工程承包等

的卧室购置了一台。顾先生购买空气净化

巨大。

活动的总称。

器是受了同事的影响。而北京正是雾霾天 气最严重的大城市之一。

解决被称为“第三次污染”的空气净

吴晗瑄表示，仅按“十一五”期间

化设备，正迎来新一轮商机。一些很早就涉

环保产业的年平均增长率为15%的保守估

雾霾天气不限于首都一地，大面积的

及净化行业的传统家电巨头如远大、美的、

算，2015年环保产业的总产值将超过50亿

雾霾天气在全国各大在中城市引发了空气

格力等，正利用集团其他产品的优势加速

元。

净化装置的火爆热销，某些品牌的家用空

推广空气净化器产品；霍尼韦尔、松下、

而国务院印发的“十二五”节能环保

气净化器出现了脱销。

夏普、3M等大型跨国公司也依托长期积累

产业发展规划，要求到2015年，中国技术

的技术拓展市场；主营健康产品的安利也

可行、经济合理的节能潜力超过4亿吨标准

在近期开始涉足生产空气净化器产品。

煤，可带动上万亿元投资；节能服务总产

淘宝网监测数据显示，1月11日北京 空气严重污染后，“N95口罩”的成交指 数激增10倍；1月25日-31日7天，空气净 化器的成交指数比去年同期暴增575.7%。

48

值可突破3000亿元；产业废物循环利用市

投资走热

整个1月份，PM2.5的搜索指数环比上涨

空气净化器受到市场热捧欢迎只是一

2344.3%，“PM2.5空气净化器”环比上

个风向标。事实上，由于污染问题日益严

涨6402.6%，涨幅巨大。

重，环保行业开始重新受到资本青睐。

场空间巨大；城镇污水垃圾、脱硫脱硝设 施建设投资超过8000亿元，环境服务总产 值将达5000亿元。

节能减排

据商务部月度监测数据显示，2010

清科研究中心数据显示，去年清洁技

至2012年前三季度，中国空气净化器零

术行业共有131起投资事件，涉及总额达

受雾霾天气的影响，首先获利的是环

售量逐年递增，同比增幅由11.4%增至

60多亿元。其中环保产业的投资案例数61

保设备板块，如脱硫脱硝、除尘装备，市

14.7%，未来市场年增幅直逼15%。从市

起，投资总额30多亿元，占比超过全行业

场空间会因此大幅扩容。去年，环保部联

April 2013

合发改委完成了对全国重点地区火电厂脱

现有项目过渡期满后，再执行特别排放限

国转入发达经济阶段。届时，工业比重将

硫脱硝进展的摸底调查，明确了火电脱硝

值。

转入稳定或有所下降，有望转变从“末端

电价补贴调整的现实紧迫性，脱硝电价补

其实，对火电行业的排放约束早已

贴有望提高到1分/度，将直接为火电厂增

开始。去年1月1日开始实施的《火电厂

目前存在的问题是，市场化程度较

收，获得相关订单的企业将率先受益。去

大气污染物排放标准》，就对火电厂的污

低，对政策依赖度高，很多清洁技术细分

年五大发电集团也与环保部签订了减排责

染物排放限值进行了从严修订，大幅收紧

领域尚不能形成市场化的发展格局。清科

任书，确定重点脱硝改造火电机组装机将

氮氧化物、二氧化硫和烟尘的排放限值。

研究中心分析肖珺表示：“主要原因既包

达到6800万千瓦。以全国火电机组2100

但此次出台的二氧化硫特别排放限值在国

括市场初期产品、服务成本高企，也包括

小时的利用时间计算，可带动脱硝装机投

标限制值基础上又收紧了一半，对企业来

为产品、服务买单对象不明确等原因，因

资近15亿元。另外，污水处理和固废回收

说，难度大大提高。需要对脱硫、脱硝、

此产业的发展高度依赖扶植政策，行业内

及再利用应该也会随着近期水污染问题的

脱汞等装置全面进行技术改造才有可能达

生力量尚显不足。”

集中凸显，进入快速增长期。同时，重金

到。“企业运营也需要重新控制和规划运

“环保治理是长期性行为，需要贯

属治理和环境监测对民众及环境的影响也

营成本，在增加了空前治污成本的基础上

穿经济发展的整个过程。但目前的污染状

较大，相信未来都是环保主题获利延伸的

削减其余部分开支，才可能回归盈利，在

况不是一朝一夕可以改变，需要有足够长

主要方向。

困境中成功突围。”吴晗瑄表示。

的时间才能扭转过来。”吴晗瑄表示，

今年2月19日，环保部确定将对包括 19个省（区、市）的47个地级及以上城

治理”向“前端综合防治”的现状。

“相信未来会有越来越多的政策和制度有

长期投资

利于环保产业的发展。可以说，目前环保

市在内的重点控制区，对火电、钢铁、石

雾霾阴影挥之不去，地下水污染接踵

板块行业已进入黄金期，具备长期投资的

化、水泥、有色、化工等六大重污染行业

而来，环境问题不仅成为年度性、全国范

价值。虽然短期利好形势不断，但应作为

及燃煤工业锅炉的新建项目。

围内的话题，也受到二级市场上资金的关

中长期成长性投资对待。

国家环保部新推出“最严”产业政

注。

值得关注的领域包括工业除尘、工业

策，高消耗、高污染的工业行业将被重点

目前，工业化进程仍处于中后期阶

三废处理等工业环境治理领域等，LED领

治理，意味着这些行业将备受挑战。火

段，重工业、资本品工业（或生产资料工

电、钢铁行业会率先受到制约，立即开始

业）比重显著上升，需要消耗很多资源，

LED半导体照明相能耗仅为白炽灯

执行污染物特别排放限值；而石化行业、

产生大量污染，以换取人民生产、生活的

的1/10，节能灯的1/3，使用寿命可达5万

燃煤工业锅炉项目尚有一点缓冲机会，待

必需品。由传统工业转向新型工业转型需

小时，发光效率和寿命远超白炽灯和荧光

修订完善的排放标准，并按照标准设定在

要时间去完成，当工业化进程结束后，中

灯，并且不含汞和铅，更为健康环保相比

域也有多起投资事件。

传统照明具有独特的节能优势。 LED的发展与普及已成为全球低碳经 济的热点。LED照明及相关应用产值逐年 增加。GLII(高工LED产业研究所)预计， 最快在2015年，LED在中国照明市场占有 率将达20%，带动5000亿元规模的相关产 业。 半导体照明产品被《国家中长期科学 和技术发展规划纲要》列为“重点领域及 其优先主题”。北京、上海、广州和深圳 的地铁已启动普及LED日光灯节能项目。 武汉、重庆等城市的高科技工业园区已建 成全部采用LED路灯的园区大道。 在2011年，LED行业出现过出口产 能过剩，大批企业整合的情况。“尽管由 于依赖出口，业界也存在LED产业是否会 步光伏产业后尘的担心，但是LED的内需 污水处理公司的水处理池

增长释放出积极的信号。”肖珺说道。

April 2013

49

焦点 芬兰

午夜阳光之国 芬兰希望从高速成长的中国经济中受益

世界有福享受“午夜阳光”的人当

全

刻板印象总让我们将其与诺基亚（辉煌与

好。2011年春天由金融监管局组织的一

中，三分之二都居住在芬兰。在芬

衰落）、F1车手吉米·莱科宁（辉煌与衰

次压力测试显示，芬兰银行完全可以轻松

兰拉普兰地区的极北地带，太阳会持续70

落）和圣诞老人（永不落幕）联系起来。

抵挡不利经济状况，因为其银行体系资

多天居于地平线之上。夏季白夜是芬兰全

但作为一个北欧小国，芬兰一直都是AAA

本非常充足，一直都保持着一级资本比率

国随处可见的景象。在白夜中如何度过这

级的欧盟成员国。欧洲货币联盟也因该国

13.2%，而欧洲银行管理局的最低资本要

些时光不用费心考虑，人们可以沐浴在无

人民的坚韧不屈而闻名于世，也正是这种

求为9%。

穷无尽的阳光下，享受额外赐予的白天时

不屈不挠地品质让这个北欧小国在二战的

光。

滚滚硝烟中始终屹立不倒。 芬兰在美国《新闻周刊》去年“全球

而今，当欧盟与欧元区国家都在危

衰退，这一惨痛教训也是如今的芬兰能在

最好的国家”中名列第一，其评判标准涉

机中苦苦挣扎时，芬兰的公共产业与金融

全球金融危机中幸存下来甚至可以保持适

及健康、教育、生活质量、经济活力和政

产业都基本没有受到影响，即使该国是唯

度繁荣的部分原因。2010年麦肯锡报告显

治环境。此外2010年美国福布斯杂志将芬

一的一个位于斯堪的纳维亚地区的欧元国

示，芬兰经济之所以能够完全从衰退中恢

兰、瑞典、挪威、丹麦与荷兰评为“全球

家，同时该国在经济上也高度依赖瑞典和

复回来，主要得益于该国在信息通信技术

五大最幸福国家”。当然这样的排名并不

俄罗斯这两个非欧元国家。

行业的迅猛发展以及私营行业生产力和竞

能真实反映北极圈地区的冬季生活：气温

据去年世界经合组织报道，因地方

零下25°C、厚厚的积雪、日照时间4小

银行在扩张期采取了谨慎的贷款策略，并

据芬兰投资局报道，该国GDP增长主

时、人烟稀少。

且很少购买高风险外国证券，芬兰金融体

要依靠服务业的推动（65%），其次为制

系在全球金融危机的大背景下仍然表现良

造与再加工行业（31%）和初级产品的生

过去10年，芬兰在世人眼中形成的

夏季白夜是随处可见的景象

50

上世纪90年代初，苏联解体及俄罗 斯-芬兰贸易关系崩溃导致芬兰经济严重

April 2013

争力的显著提高。

产（3%）。芬兰在经济、社会与科技发展 方面，处于全球领先地位。 清洁技术 芬兰在可再生能源与生物能利用领域 领跑全球。那里只使用木柴和木质燃料、 水电、风能、太阳能以及地热能。据就业 经济部表示，目前可再生能源占芬兰能源 消费总量的25%，占发电总量的25%还 多。 缓慢再生生物质能燃料泥炭也在该国 的能源平衡中占到了6%，而且作为民用 燃料保障能源，泥炭的重要性也将不断提 高。4座运营中的核电站满足了芬兰1/4的 用电量，而且第五座发电站也正在建设当 中。有趣的是，自2011年日本福岛核电站 发生爆炸以来，德国与瑞典都宣布将减少

冰天雪地的极北地带

核能产量，而在这一点上芬兰的政治立场 却恰恰相反。

能行业越来越对外开放的趋势。

期等核电站提供服务，目前正在为在建的

说到芬兰能源产业与能源组合，芬

随着世界各国对核电的政策规划逐

浙江三门、山东海阳、广东台山、广东阳

兰洁净技术公司的种类和数量着实引人注

渐明朗，除了德国、日本等国外，其他国

江、福建福清等核电站提供质量服务。在

目——总数达到2000家，据芬兰投资局表

家均采取积极举措扶持核电产业。核能将

中国的服务范围涉及材料控制、设备工厂检

示，最卓越的几家洁净能源公司在2010年

成为全球发展潜力巨大的能源之一。对于

验、供应商监查、设备现场安装控制、项

的营业总额高达179亿欧元，年增长率达

核电站在建规模居世界第一并且还有一批

目管理、设备符合性评估（强制认证）、

到5.6%。

项目处于前期准备阶段的中国核电市场而

培训、咨询等方面。这些宝贵的经验成为

除了生物能与可再生能源以外，其

言，中国核电服务市场有望迎来新一轮

其获得中国核能行业协会认可的重要因素

他重要清洁技术行业也包括了清洁工业流

“繁荣期”。而在此时加入核能行业协

之一。

程、分析与自动化以及净水和污水处理。

会，对必维来说是使得其本土化战略得到

从中国尚德太阳能电力控股公司的失败案

了进一步的落实的又一契机，必维核电业

例中我们可以看出，中国对环保技术的期

务部负责人张文印谈及此事时说：“我们

芬兰另一个有趣的产业就是信息与

望值很高。虽然尚德公司退出市场更多的

在核电领域拥有丰富的经验，在机械设

通信技术业。信息技术产业竞争力指数显

是由供给过多和恶性价格竞争引起，但这

计、金属冶炼、无损检验等方面均拥有顶

示，2011年芬兰的研发投资在本国GDP

也反映出中国洁净技术市场的不平衡现

尖技术。我们是全球唯一的同时为芬兰欧

的比重位居欧洲第一、全球第二。此外，

状。

信息通讯

洲压水堆（EPR）和中国AP1000核反应

活跃在高科技以及包括微软手机、iOS、

这里当然存在着与创新和研发交流有

堆两个第三代核电原型堆工程提供质量服

安卓系统和Linux在内的移动平台与操作系

关的知识产权风险，但是芬兰清洁技术公

务的检验机构，并参与了多个中国核电项

统领域的特殊开发人群也将芬兰变成了欧

司在中国仍然有很多商业机遇，而他们最

目，因此我们有自信能够与中国核电共同

洲的创新热区。这一切原因何在？

首要的任务就是得到中国市场的邀请。

发展。希望此次加入核能行业协会，将为 我们迎来更多助力中国核电的机会。”

核能服务

芬兰强大的信息和通信技术研发环境 主要得益于芬兰政府机构的支持和国际技

必维是全球领先的第三方检验认证机

术局、芬兰国家研发基金会及芬兰担保委

中国核能行业协会正式批准必维国际

构，其检验评估工作是贯穿从核电项目的

员会的资金支持，他们都为技术研究和新

检验集团（Bureau Veritas）加入协会，

可行性研究直至电站最终退役的整个“核

公司成立提供资金。芬兰的新兴企业可以

成为协会为数不多的外资机构会员。这不

电寿命周期”。在华核电服务始于1997

较为容易地从以上机构获得公共研发投资

仅意味着中国核能行业对于必维在核能服

年，在过去的15年中，先后为大亚湾、

基金。信息与通信技术领域的一个成功案

务领域专业化服务的认可，也说明中国核

秦山一期、秦山三期、岭澳一期、岭澳二

例（并非诺基亚）就是愤怒的小鸟开发商

April 2013

51

焦点 芬兰

沐浴在无穷无尽的阳光下

Rovio Oy，这款游戏在中国市场似乎比在

球现象，并始终是排名第一的付费游戏应

系统的市场领导者Tuxera 公司今年1月宣

本国市场更为成功。

用，并且迅速扩张至娱乐、出版，授权领

布在中国北京设立办公室，这是该公司在

域，已成为世界流行的国际品牌。

亚洲设立的第三个球第五个办公室。

中国巨大的智能手机市场已经吸引了 大量芬兰信息和通信技术业的新兴公司，

总部位于芬兰的Rovio是颠覆行业

中国办公室将为大中华区快速增长的

中国也认识到了芬兰IT技术在很多方面的

的娱乐媒体公司，成功打造了愤怒的小

文件系统市场需求提供产品和服务支持。

巨大价值。

鸟形象。近期该公司与中国移动广告网络

在嵌入式软件和半导体行业拥有超过15年

华为在去年12月宣布该公司计划于今

和移动营销解决方案提供商亿动广告传媒

专业经验的陈永畅被任命为中国区销售与

后5年投资7000万欧元（约合5.56亿人民

(Madhouse)结盟，成为中国区移动广告

业务发展总监。对于新办公室的设立，他

币），在芬兰首都赫尔辛基建立研发办公

战略合作伙伴。

表示：“我们一直致力于和在中国和亚洲

室。华为雇佣了100名芬兰工作人员，通

“我们一直都非常重视与Rovio的

其他地区的领先消费电子厂商建立和维持

过这种方式吸收了诺基亚因企业衰退而裁

合作。”亿动广告传媒创始人兼首席执行

长期互利的合作伙伴关系，新办公室设立

减的人力资源，就像之前诺基亚重新利用

官马良骏说道，“愤怒的小鸟自接入亿动

之后，我们的客户将获得更加便捷和个性

埃森哲的人力资源一样。华为的案例非常

智道广告网络平台以来，取得很大成功，

化的服务和支持。”

有趣，因为有迹象表明联想也在向中国以

不仅广告效果优异，更赢得广大品牌广告

据分析人员估计，今年中国消费电

外的地区扩张，这一趋势虽然缓慢，但却

主的认可和青睐。我们相信，随着新款游

子行业将继续维持9%左右的稳定增长，

是确定无疑的。中兴通讯是另一家不愿意

戏愤怒的小鸟星球大战的问世，势必引发

同时，对消费电子产品多平台之间全面的

在海外市场落于人后的中国公司。

新一波的游戏热潮，吸引更多广告主的瞩

交互操作性和高性能的需求也正在经历快

目。”

速增长。该公司首席执行官米克·维力玛

芬兰与中国在信息与通信技术领域具 有很多共同利益。即使芬兰的信息与通信

去年8月，由愤怒小鸟的开发公司研

（Mikko Valimaki） 认为，设立当地办公

技术蜚声全球且拥有理想的市场定位，但

发的游戏球 iBall 正式登陆中国。作为一款

室至关重要。“我们正在和拥有世界上增

也不能坐等中国单方面来完善两国在信息

人机互动的体感游戏，不仅突破了传统体

长最快的技术行业的国家中国一起发展，

与通信技术领域的合作关系。

育场地的限制，还可以另游戏者体会到在

我们越来越多的重要客户来自亚洲，在北

体育场竞技的真实感受。此前，该款游戏

京建立办公室是我们拓展亚洲市场的重要

已在芬兰、英国、意大利、立陶宛等多个

环节。毫无疑问，本地化运营可以使我们

国家上市，特别受到家庭消费者和办公室

的工程师团队保持更好的团队协作，方便

白领的喜爱。

我们和客户在更大的项目上开展合作。”

移动游戏和IT服务 “愤怒的小鸟”是芬兰在移动游戏领 域拥有一款经典作品。作为一款休闲益智 游戏，发布仅几个月便迅速成为了一种全

52

April 2013

安卓、Linux、Mac 和其他平台文件

他说道。

Call us at: China +86 158 5033 3901 EU +358 44 5111533

Visit us at: No.88 Zhonghua Road, Shipai, Kunshan, Jiangsu Province, China ECO-Business Park with unique service portfolio for any kind of Clean Technology Company, located in Kunshan, Jiangsu – 40 minute drive from Shanghai.

Opening Ceremony on the 16.5.2013 该环保商务区坐落于江苏省昆山市，离上海只有 40 分钟的车 程，主要为清洁技术公司提供独特的组合化服务，于 2013 年 5 月 16 日举行盛大的开幕仪式 www.greentowerkunshan.com

CIE2013 EXPO Take part and meet all of us at one of the most interesting Expos in China – The Import Expo in Kunshan between 15.5 and 18.5.2013 诚挚邀请您与我们一起参加 2013 年第 二届中国国际进口商品博览会，展会时 间：2013 年 5 月 15 日—2013 年 5 月 18 日 www.importexpo.org

Green Tower Kunshan is built to assist Western companies to access China´s Cleantech market. Services include Market Entry Support, IPR, Technology Transfer, Sourcing, Office & Manufacturing Space including Expat relocation to name a few.

Opening Ceremony, CIE2013 Expo and Clean Water Seminar all take place in May 2013. For more information please do contact us through our homepage or CIE2013 Expo homepage. You are more than welcome to visit us at any time. 昆山环保科技中心旨在协助西方企业进驻中国清洁技术市场，所提供的组合化服务包括：进驻服务、专利和知识产权服务、技术转移、采 购、办公区与厂房等。开幕仪式、2013 中国国际进口商品博览会及关于清洁水的讨论会都将在 2013 年 5 月举行。如想了解更多的信息，请 通过我们的官方主页或者 2013 博览会主页所列的联系方式联系我们。我们随时欢迎您的光临。

Clean Air (新鲜空气) Finesse Finland Trading House

SPOTLIGHT FINL AND

Finland – Nordic exporter of clean tech and ICT

By Riikka Koponen

A

ccording to the main stereotype about Finland that has gained ground over the previous decade, the country is most commonly associated with a triad of connotations – Nokia (boom and decline), Formula1 driver Kimi Räikkönen (boom and decline) and Santa Claus (eternal boom). But this tiny Nordic country is also a stubborn AAA-rated member of the EU and the European Monetary Union and famous for the national persistence and tenacity that kept Finland independent throughout World War II. In 2010, Newsweek ranked Finland No. 1 in its listing of “Best Countries in the World” according to param-

54

April 2013

eters linked to health, education, quality of life, economic dynamism and the political environment. Also, Forbes in 2010 placed Finland in the top five of the “Happiest Countries in the World” along with Sweden, Norway, Denmark and the Netherlands. Naturally, such list rankings don’t fully reflect the reality experienced in the Arctic Circle’s winter: minus 25 Celsius, deep, deep snow, four hours of daylight and few human encounters in a normal day.

Nevertheless, during the current struggles and crises faced by the EU and the euro zone, Finland’s public and financial sectors have remained relatively unaffected and stable despite the fact that it is the only Euro-econ-

omy in the Scandinavian region which simultaneously has a high level of dependence in terms of its economic ties with Sweden (non-Euro country) and Russia.

Accordingly, the OECD in 2012 reported that the Finnish financial system had fared well through the global financial crisis as local banks had been prudent in lending during the previous expansion phase and had little exposure to high-risk foreign securities, such as those of Cyprus. A stress test conducted by the financial supervisory authority (FIN-FSA) in spring 2011 indicated that the Finnish banks would easily withstand an adverse economic scenario, because the banking system is

SPOTLIGHT FINL AND

well capitalized at a Tier 1 ratio of 13.2 per cent, compared to the EBA’s minimum capital requirement of 9 percent.

Finland’s ability to survive and even modestly prosper through the financial crisis is also partly due to the lessons learned from the recession that hit Finland in the early 1990s after the collapse of the Soviet Union and thus Russian-Finnish trade. According to a McKinsey report in 2010, Finland’s economy recovered well from the recessions thanks to a rapid growth in the new information and communications technology (ICT) sector combined with significant improvements to productivity and competitiveness in the private sector.

Today, Finland’s GDP growth is driven by the service sector (65%), followed by manufacturing and refining (31%) and primary products production (3%), according to Invest In Finland. It fares well in international comparisons in terms of growth and development of the economy, society and particularly the technology sector.

Sino-Finnish relationship – opportunity for R&D and innovation exchange When it comes to the issue of cooperation between Finland and China, the key factor in the establishment of a partnership in trade and economic relations is the huge difference in size between the two countries.

China recognizes Finland’s relatively rapid advancement and expertise in high technology and innovation and according to a paper from the Finnish Foreign Ministry, is increasingly seeking information about Finnish solutions particularly in the sectors of environmental protection, clean technolo-

gies, education and reform of stateowned enterprises.

For Finland, China is already its second largest trading partner after Russia and is the third largest export partner for Finns after Russia and the United States. In 2011, Sino-Finnish trade totaled EUR 7.0 billion, while foreign direct investment (FDI) from Finland to China amounted to EUR 10 billion, according to European Commission.

But the Sino-Finnish partnership could be deepened further to the benefit of both especially in the areas of scientific research projects and R&D exchange. For the Finns, the good news is that during the past decade China’s R&D spending has increased substantially and the country has set its target to become one of the world’s leaders in terms of R&D output and innovation.

Currently, while China’s rate of investment in R&D stands at a low 1.5% of GDP, China already ranks third in the world in absolute terms after the US and the EU. But China has announced its intention to raise its level of R&D investment to 2.5% of GDP by 2020.

In line with this, several Sino-Finnish scientific joint projects are under way involving sectors such as energy, environment, ICT and nanotechnology.

In fact, expanded Chinese investment in innovations and R&D offers interesting opportunities not only for Finland, but also for other Nordic countries with their unique know-how in the main industries on which these small countries have focused since the end of World War II. For instance, Norway possesses the world’s leading scientific and technological knowledge about offshore oil and gas technology,

shipbuilding and Arctic equipment, while Denmark and Sweden offer an excellent showcase for a service-oriented state model with a strong public sector.

From the viewpoint of China, possibly the most interesting innovation know-how that Finland has on offer is a wide range of technologies for ICT to improve energy efficiency, more efficient use of renewable energy sources and the development of energy infrastructure, housing, transportation and logistics. Finland ranks fourth on the Innovation Union Scoreboard of the EU after Sweden, Denmark and Germany, according to Statistics Finland.

Clean technology – mutual business case Finland is one of the world’s leading users of renewable sources of energy, bioenergy in particular. In other words, wood- and wood-based fuels, hydropower, wind and solar energy as well as ground heat. Currently, renewable sources provide 25% of Finland’s total energy consumption and account for more than 25% of its power generation, according to the Ministry of Employment and the Economy.

Peat, classified as a slowly renewable bio mass fuel, also occupies approximately 6% of the energy balance and is expected to increase its importance as a domestic fuel securing energy supply. Another quarter of the electricity Finland consumes is produced with nuclear power through four operational nuclear plants and a fifth on its way.

Interestingly, nuclear power is one area in which Finland has taken a political stand at variance with Germany and Sweden, which both have announced reductions in nuclear energy pro-

April 2013

55

SPOTLIGHT FINL AND

duction following the nuclear plant disaster in Fukushima in Japan in 2011.

When looking at the Finnish energy sector and portfolio, the number and diversity of clean technology companies catches the eye – 2,000 enterprises in total. In 2010, the overall turnover of the most prominent Finnish cleantech companies amounted to EUR 17.9 billion with an annual growth rate of 5.6%, Invest in Finland says.

In addition to bioenergy and renewable sources, other key clean technology sectors include clean industrial processes, analysis and automation as well as water and wastewater treatment. As seen in the recent case of China’s failed solar power manufacturer Suntech Power Holdings, the expectations for environmental technologies in China are huge. Even though Suntech’s elimination from the market was caused more by oversupply and vicious

56

April 2013

price competition, it exemplifies the current imbalances in China’s clean tech market.

There are of course IPR risks related to innovation and R&D exchanges, but there are still many business opportunities for Finnish clean tech companies in China. First, however, they must receive an invitation to the Chinese table.

ICT – Angry Birds and other species Another interesting Finnish innovation sector is information and communications technology (ICT). As a percentage of GDP, Finnish R&D investments are the third largest in the world and in 2011, Finland ranked No. 1 in Europe and No. 2 in the world according to the IT industry competitiveness index. Moreover, Finland holds the position of an innovation hotspot in Europe due to exceptional developer

clusters in high-tech, mobile platforms and operating systems such as Windows Phone, iOS, Android and Linux.

Why? Finnish environment of R&D in the ICT area is strong thanks largely to the support of the Finnish governmental agencies and funds Tekes, Sitra and Finnvera, which all fund research and new business establishments. They provide relatively easy access to public R&D investment funding for Finnish start-ups. For instance, one Finnish ICT success stories (other than Nokia) is Rovio Oy of Angry Birds which seems to be even stronger in the Chinese market than back at home.

China’s huge smartphone market has already attracted many Finnish ICT start-ups, and China has recognized the value of Finnish IT knowhow in many ways, including Huawei’s announcement in December 2012 that it planned to invest EUR 70 million over the next five years to open a research and development office in Finland’s capital, Helsinki. By employing 100 Finns, Huawei inherits some of the leftovers from a declining Nokia that had earlier recycled some of the same human resources to Accenture.

The case of Huawei is particularly interesting because there are signs that Lenovo is also, slowly but surely, starting to expand their presence outside of China. ZTE is another Chinese company unwilling to draw the short straw offshore.

It is clear that Finland and China face several areas of mutual interest in the ICT sector. And despite its good ICT reputation and ideal market positioning, Finland should not stay waiting for China to politely ask for consummation of its ICT friendship.

长期目标？

我们经营的是完整应用程序智能手机管理。中

短期内的目标是找到增值合作伙伴。我们希望

国市场发展迅速，而我们的产品恰恰能够迎合

找到有双赢案例的商业模式。无论是合资企业

中小企业的需求。我们自2002年公司创立以

还是私募基金，我们正在积极寻求能够扩大我

来已经积累了许多的先进移动设备管理领域的

们规模的合作伙伴。这就是我们在中国市场的

经验。去年12月我们与中国代表团见面并且

短期目标。

已经确定了一个合作伙伴。中国的业务前途十

长期目标是拥有更大的市场份额。在日

分光明。接下来几周我们会一直在中国了解市

本和印度我们已经通过合作伙伴实现了本地

场并且寻找合适的合作伙伴和私人股本公司。

化。而在中国，我们已经为开发商提供了地面 服务。我们已经在香港提交了专利，而产品也

SyncShield具备哪些成功的优势?

已经准备就绪。我们之所以想要在以上地区生

我们的用户界面非常便于使用，服务也很强

根发芽，目的就是为用户节省包括运费在内的

大，并且不需要第三方许可。我们提供范围广

各种额外费用。我还注意到一件有趣的事，那

泛的解决方案，安全管理以及设置和应用程

就是中国的平板电脑市场的发展势头已经超过

序。服务面向广泛的背景和平台，包括智能手

了移动设备应用程序市场。

机和平板电脑在内。而我们正是通过独特的平

Capricode Oy是一家芬兰的高端软

台而在充满挑战的美国市场获得了一席之地。

您在中国市场的定位是怎么样的?

件供应商，主要产品为SyncShield®先进

我们提供程序包、用户档案管理、云计算解决

我们的客户有企业也有个人消费者。在移动设

移动设备管理（AMDM）。公司的首席执

方案、公司内部服务和管理服务等。我相信这

备管理这一市场，针对企业的应用程序越来越

行官Eero

些独特的功能会让我们在中国取得成功。

多。人们首先必须要有自己的设备，然后企业

Seppänen接受《中国经济评

论》的采访时谈到了通过建立本地合资企

就可以建立自己的配置、系统设备和设备政

业来进入中国市场的打算。

您为中国市场的策略制定了怎样的短期目标和

策。这就是我们锁定的目标群体。

Capricode is looking to enter the Chinese market

party licensing. We provide a wide range of solu-

share. We already have a localized presence in

through a joint venture. Why have you decided

tions, managing security, settings and applications.

Japan and India through our partners. In fact, we

to enter China, what are the advantages and chal-

Importantly, we provide services to a wide back-

have ground service already available in China to

lenges in regard to market entry?

ground and to a wide range of platforms including

developers. The patents have already been filed in

We operate full application smartphone manage-

smartphones and tablets. For example, we gained

Hong Kong and the product is ready to go. The

ment. The market in China is growing fast and

presence in the challenging US market due to our

main reason we want to have a presence across all

our product is very good for SMEs looking for

unique platform. We offer packages, user profile

these areas is that there won’t be any extra costs for

what we can provide. We started back in 2002 and

management, cloud solution, in-house services

customers like shipping costs. Another interesting

have accumulated a lot of experience in advanced

and management services among other things. It

point is that the tablet market in China is growing

mobile device management. Last year, in December,

is these unique features that I believe will bring us

very fast, faster than the mobile application market.

we met a Chinese delegation and already found a

success in China.

Is there a specific market within China you are

partner. Business in China is looking promising. We will be in China in the next few weeks to not only

What are Capricode’s short-term and long-term

looking to target? A niche customer area you’ll be

understand more about the Chinese market but to

goals in terms of your strategy in China?

focusing your efforts on?

also find the right partners and private equity firms.

In the short-term we are looking for value-added

Our customers are enterprises and consumers as

partners. We want to find business models with

well. There are more and more enterprise applica-

What would you say are the key features of Sync-

win-win business cases. Whether it be joint ven-

tions out there within the MDM sector. People

Shield that will bring success to Capricode in the

ture, or private equity funds, we are actively seeking

would have to have their own devices first. The

Chinese market?

partners in which we can expand our presence.

companies can then build up their configuration,

Our user interface is very easy to use, the service is

This is our short-term goal in China.

system devices and device policy. This is the market

also very powerful and there is no need for third

The long-term goal is have a greater market

we are looking to target.

CO-PUBLISHED ARTICLE

Eero Seppänen, CEO of Capricode Oy, a Finnish high-end software provider with main product SyncShield® advanced mobile device management (AMDM), spoke to China Economic Review about their current market entry to China through a local joint venture.

为什么想要进军中国市场？

创

立于1994年的Cross Wrap是一家物流方案供应商，其 设计的方案旨在帮助企业提高盈利能力。我们生产的 产品包括：用于包装各种工业产品的全自动拉伸膜包装机； 废物衍生燃料、固体回收燃料以及其他废物和工业材料的拆 包机。我们专注于废物及循环再造材料的包装解决方案。使 用我们的“交叉打包”的捆包可以适应各种天气、交通和 储藏条件。我们的专利方法也适用于以下包装材料，如胶合 板、层压木材和其他的建筑材料，以及室内装饰用品和液体 容器。

废物衍生燃料的处理专家

F

ounded in 1994, Cross Wrap Ltd is a provider of logistics solutions that are designed to help businesses boost their profitability. We produce automatic stretch film wrapping machinery for the packaging of various industrial products, and bale opening machinery for RDF, SRF and other waste and industrial materials. We specialize in wrapping solutions for bales containing waste and recyclable materials. A ”CrossWrapped” bale or package will withstand weather conditions, transport and storage. Our patented method is also suitable for packing materials such as plywood boards, laminated timber and other construction materials, as well as interior decoration items, or even fluid containers.

以区域供热，电力和工业蒸汽为目的废物再生能源回 收越来越受欢迎。为迎合这一需求趋势，Cross Wrap为客户 提供高效的包装机和拆包机，使其能够以安全经济的方式来 实现材料的储存和运输。 我们的产品已销往全球37个国家，迄今已有超过四千 万个包装使用了我们的“交叉打包”方案。我们是废物处理 行业的领先品牌。我们的客户包括废物发电厂，废物处理 公司，水泥制造商，以及胶合板、单板及水泥纤维板工厂。

Specialist know-how in the handling of challenging RDF materials Recovery of energy from waste-based materials for district heating, electricity and industrial steam is becoming increasingly popular. For this growing demand, Cross Wrap offers efficient wrapping machinery and bale opening equipment which give our clients a safe and cost-efficient way to store and transport their materials.

Our machines are already in use in 37 countries, and more than 40,000,000 bales or packages have been Cross-Wrapped to date. We are the market leader in waste wrapping. Our customers include Waste-to-Energy plants, waste-handling companies, cement manufacturers and plywood, veneer and cement fibreboard factories.

Teollisuustie 6, 71800 Siilinjärvi, FINLAND | Tel. +358 17 287 0270 www.crosswrap.com | sales@crosswrap.com

Jongla – new mobile messaging revolution

C

ompetition is fierce among the world’s top messaging apps, but Finland-based Jongla stands out from the market. Jongla’s free instant messaging app cuts across borders by being available in 20 languages, including Chinese, for iPhone and Android as well as an HTML5 web app. Launched in December, Jongla is now experiencing a true boom in the youth market, particularly in Asia Pacific. For its efforts, the company was just recently selected as a finalist in Red Herring’s Top 100 Europe Award for the most promising startup.

Jongla CEO Riku Salminen told China Economic Review that even though the mobile market is growing fast in China, the company’s team is prepared for the competition – they plan to open an office in Asia in the second half of this year to serve better “involved, hardcore” users and partners. Jongla additionally partners with top artists to create interactive stickers, which allow users to personalize their messages and express themselves in a totally new way. Even though Jongla faces stiff competition from the likes of WeChat, Line, KakaoTalk and Whatsapp the company is positioned to successfully enter the Chinese market by localizing its user experience. Riku Salminen, CEO of Jongla, sat down with CER to discuss Jongla’s strategy in the region.

Jongla – 新移动通讯革命

J

ongla是一款针对年轻用户的免费即时通讯应用程序，支持多达20种语言，并为那些希望给多个朋友发送短信的用户设计了卓越的群聊功能。这 是一款免费程序，用户可从App Store处下载iOS版或从Google Play下载。Jongla是一家专业开发独立于设备与平台的移动通讯的创新企业，创立 于2009年。因其优异的管理，已被选定入围“红鲱鱼”欧洲100强大奖。

Jongla is expanding rapidly in Asia Pacific. How is the company positioned to succeed in China?

The most important thing is that Jongla is available in the Chinese language, so therefore there are no language barriers. Another feature that we strongly believe will appeal to Chinese users is our interactive stickers that animate on-screen. The app is free to download and free to use, but also provides security that users demand. Every single message sent is encrypted so your message stays safe. In brief, the key point is that Jongla is designed to be very compact – fast, fun, free, easy to register with a slick and intuitive interface.

Combined with real-time group chat, Jongla gives you the feeling of being physically in the middle of your friends.

Who are Jongla’s target customers in China? How can you boost your competitiveness in Asia Pacific?

We aim for the youth market. We compete by making the service very simple, giving it a polished interface and a more personalized user experience through interactive stickers and content you can’t find anywhere else. Since launch in December, our users have been giving us lots of feedback on the service and the types of features they’d like to see in future versions. Group messaging was the most popular by far. This is just the latest development aimed at offering young Chinese a service they love and use to communicate with the people that matter.

Can we expect any new features in the future?

Yes, Jongla will offer more customized and localized user features in the near future. We continue to improve and listen to our customers very carefully. We do what our customers want. We have a very agile development team that allows us to release new features and improvements on a regular basis. Our goal is to make the best messaging app and user experience. How? We want to be international and inclusive by focusing on quality content, a growing in-app store and being ready to roll with HTML5 once Firefox OS hits the market.

对于进入中国市场，Jongla具备哪些制胜法宝？ Jongla支持中文应用，因此在中国市场将没有任何语言障碍。另一项 吸引中国用户的功能就是互动式扬声器。我们邀请了顶尖的插画家并 花费了大量时间来开发这个功能。用户可以实现个性化设置，以全新 的方式表达自我。这是一款免费应用程序， 非常安全， 每一条信息 都被加密保护。

对于中国本土手机即时通讯市场的发展您有哪些期待？ 手机市场发展十分迅速，即时通讯和下一代通讯应用程序将成为主要 推动力。而中国的即时通讯市场发展更是迅猛，这应该归功于其基础 设施的改善。

您将如何在亚太市场提升它的竞争力？ 我们的目标客户是全新的群体。我们将从网上获得客户，覆盖所有不 发达地区和发达地区。我们的竞争力就是提供简单方便的服务，用独 一无二的互动式扬声器和内容提供给用户一个精美的用户界面以及个 性化的使用体验。另外，应用程序还分iPhone版本和安卓版本。我们 的应用程序也支持个人电脑和苹果电脑的用户。 最重要的是，我们 也为低端客户提供服务。

未来还会有什么新的用户定制功能吗？ 在不久的将来Jongla就会提供更多的用户定制功能和本土化功能。 我 们的开发过程十分灵活，至少每个月都会发布新功能和并改进现有功 能。我们的目标是打造最出色的通讯应用程序、提供最绝伦的用户体 验，满足用户的一切需求。

Albertinkatu 27b, 00180 Helsinki, FINLAND Tel. +358 40 5442758 www.jongla.com info@jongla.com

焦点 芬兰：人物访谈

“冷酷”的竞争 芬兰公司将运用其清洁技术和“冷技术”推动中国的创新

如，来自江苏的代表团去到了芬兰，探讨 进一步的合作。所以我们今年将成立一家 合资企业，江苏省将在企业投资300万欧 元，而Takes在项目中投资300万欧元， 中芬两个的机构也提交了竞标的联合提 议。而该项目的预申请阶段已经在3月15 日截止。 问：对中芬两国过去的合作有何看 法？ 答：在过去，深化合作的瓶颈在于芬 Sari Arho Havren

Jarmo Heinonen

兰的公司与中国公司结成伙伴关系上过于 谨慎且犹豫不决。因此，政府级别的指导

若

问起普通中国人，说到芬兰，他们

近期，Tekes的领导耶莫·海诺能

是十分必要的。过去，中国公司对于与芬

能想到的第一件事是什么？他们也

（JarmoHeinonen）以及FinNode的主

兰公司合作的兴趣更大；而现在，由于中

许会说用诺基亚的人越来越少或是愤怒的

任莎莉·阿尔和-哈弗龙（Sari Arho-

国的潜力巨大，外国公司与中国合作的竞

小鸟这个游戏。但是中国和芬兰之间的联

Havren）就清洁技术和“冷技术”创新等

争是相当激烈的。

系不仅仅是没落的手机品牌和一个小时的

问题接受了本刊采访。 问：芬兰公司的优势体现在哪里？

通勤时间中用于消遣的游戏。 中国政府对“冷技术”创新（高效 节能和耐气候方面的术语）的兴趣日益增

问：这个机构将如何帮助中国提升空 气质量？

能源，同时也包括“冷”技术。我们国家

长，以应对国内排放和高效节能方面的挑

答：在芬兰，不管是在建筑方面还是

气候寒冷，因此我们的建筑一直以来都是

战。中国粗制滥造的住宅楼和办公楼并没

运营方面，我们都执行相当严格的标准，

结实而高效节能的。因此我们拥有这些寒

有使用隔温层，因而提高了供热制冷成

同时我们也抓紧高效节能。我们的确也十

冷技术的解决方案。有时候，有些东西过

本；而芬兰的建筑仅用一小部分的特定能

分希望和中国展开合作。在高效节能方

于明显，因而让我们忘记了其商业性。在

量，便能够在一年四季维持宜人的稳定温

面，潜力是最大的。对于建筑，我们有着

上海，若是我关掉冷气，而房间不到一个

度，因此引起了中国的兴趣。

零排放的政策，这能够在减少项目碳足迹

小时就变的冰冷，房子是粗制滥造的。在

2010年，中国和芬兰签署了12项清

方面起到立竿见影的效果。我们能够将这

这一方面，芬兰有着绝对的优势。实际上

洁技术协议，总价值达2.5亿美元。芬兰

种专门技术应用于中国，而效果也是十分

是中国首先提出中芬两国可以在artic研究

方面争取利用中国启动环境改革的决心，

迅速的。

上合作，然后我们觉得“哦，对，的确如 此”。

而中国则希望能够进口高效节能技术。 芬兰政府机构FinNode（一个想与 外国公司结成合作伙伴的芬兰公司的全球

60

答：芬兰的优势领域不仅包括清洁

问：在清洁能源方面，对中国在跨国 界合作的政策有什么看法？

问：这个机构是如何鼓励中国公司采 用更多的环境友好型建筑实践的？

网络框架）和由芬兰政府为研究和发展

答：我们与中国政府有几项协议。而

项目提供经费的部门Takes进行整合，从

最高级别的协议当属中国科学技术部与我

答：我们实际需要的是一些试点项

属于一个名字巧妙的机构—芬兰梦之队

们的主办部门，芬兰经济就业部签订的协

目和展示。我们需要更多具有潜力的芬兰

（Team Finland）。这个新的超级机构将

议。国家发改委与经济就业部签订的协议

公司的参与，在价值链中定位关键角色。

负责打头阵，争取与中国公司和机构结成

主要源自于在清洁能源方面的合作，但是

当然，中方也需要做同样的事情。然后我

最有利的伙伴关系。

我们省级与市级的协议与合作更具体。例

们将能够创建一个试点项目。一旦我们说

April 2013

焦点 芬兰：人物访谈 “好，这可行”，那么我们就可以用它来

问：谁是可靠的执行者？

在未来会有更大发展，它将在造船业价值

作为未来项目的参照点。如此，这也许能

答：少数小型公司拥有高技术解决方

链上再次将中芬两国连接起来。芬兰的造

够让中国的伙伴开始用新的方式进行思

案，但是他们并不能真正与相当大型的中

船业十分发达，同时我们也将此项业务的

考，甚至也许能够影响政策本身。但是中

国公司结成伙伴关系。中国需要更大型的

重心转移到东亚、韩国和日本。清洁技术

国仍然任重而道远。在芬兰，我们也有一

公司，规模是很重要的。我们注资的芬兰

就是其中的一部分。造船业在将来也将成

些实验项目，我把他们成为“后智能城

公司都是很成功的，而我们提供的资金也

为绿色领域的一部分。因为我们在这个领

市”项目。智能城市的第二级别便是利用

是属于风险资金，因而能够让这些芬兰公

域拥有很多专门技术，我们需要为这些专

跨行业合作，并广泛应用网络交流技术。

司能够尝试一些没有风险资金就无法成功

门技术寻找新的施展之地。同时我们也在

的事情。我们不是慈善机构。

研究如何与中国在这方面展开合作。

问：在建立有前景的试点项目以后， 吸引中国政府注意的下一步是什么？ 答：现在我们主要致力于中国的清洁

问：在清洁技术方面，中国对国外投 资者的吸引力有哪些？

问：你们看到中国的有哪些自主创 新？

能源战略，这也是我们自问的问题之一。

答：中国的潜力十分巨大，同时中国

答：中国的确在中间市场创新上有强

今年夏天，我们将完成多项政策性阶段的

政府也意识到中国必须有所作为，特别是

势的表现。中国善于倾听消费者的意见，

第一阶段。希望我们得出的结果能让我们

针对北京和其他城市的空气污染及水资源

并与消费者共同创新以满足消费者的需

继续致力于类似智能城市理念在中国的应

问题方面的抱怨。这些方面的压力相当的

求。就这方面来说，中国比很多西方国家

用。我们希望芬兰公司能够继续努力，但

大。

要好。西方国家仅是想兜售我们的高技术

是我们也需要靠谱的执行者和机构，从而 能够真正地为中国提供具体的解决方案。 这些例子都说明了中国中央政府将会寻求 更加广泛的合作。

解决方案，但是中国确实咨询了消费者， 问：中国的清洁能源行业正在发生何 种转变？ 答：现在正在进行的一个重要项目将

我们认为中国将在创新方面表现越来越 强。但这需要时间，正如官方所说，这将 到2020甚至是2025年才能实现。

April 2013

61

SPOTLIGHT FINL AND

The competitive cold front Finnish companies are using their clean tech and cold-climate know-how to spur innovation in China

I

f you ask the average Chinese person what first comes to mind at mention of “Finland,” they might mention Nokia’s declining popularity in the mainland or the game Angry Birds. But China and Finland share more than damaged phone brands and games that make an hour-long commute to work more palatable.

Beijing is increasingly interested in ‘cold tech’ innovation [term used for energy efficient weather proofing technology] to help tackle the country’s emissions and energy efficiency challenges. Shoddily built homes and offices in China often make no use of insulation, driving up heating and cooling costs, making Finnish buildings and their capacity to maitain a comfortable stasis temperature year-round using a fraction of the energy of particular interest to China.

In 2010, China and Finland signed 12 clean tech deals totaling US$250 million in value. Finland has sought to seize on Beijing’s determination to enact environmental reform, and China hoped to import energy efficient technology.

Finnish governmental agencies FinNode – a global networking framework for Finnish companies who want to partner with organizations outside their home country – and Tekes – the Finnish government’s funding arm for research and development projects – joined under one aptly named agency, Team Finland. The new super-agency is spearheading Finnish efforts to

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April 2013

snatch up the most lucrative partnerships with Chinese companies and agencies.

Looking into the near future, Jarmo Heinonen, head of Tekes, and Sari Arho-Havren, director of FinNode offered China Economic Review a sneak peak into what Finland can offer China, the key players in China’s clean technology quest and challenges ahead for Chinese innovation.

Air pollution is among the most visible environmental problems confronting China. How can Finnish organizations help improve air quality?

We have pretty strict standards back home and we’re very keen on energy efficiency, whether we’re it be in construction or operations. That’s something we’d definitely like to work more with China on. Energy efficiency is the area where there are the most possibilities. We have a zero-emissions policy for buildings, and that’s something that immediately reduces the carbon footprint of a project. We could offer immediate results by applying this know-how to Chinese conditions.

How would you describe China’s political appetite for cross-border collaboration in clean tech?

We have several agreements with the Chinese authorities. The high level agreements are made with [China’s] Ministry of Science and Technology and [Finland’s] Ministry of Employ-

ment and Economy, our host ministry.

The agreement between the National Development and Reform Comission and the MEE came from the desire for clean tech collaboration, but our agreements and collaboration with provincial and city-level authorities has been more concrete. For example a delegation from Jiangsu came to Finland and actually suggested deeper collaboration. So we launched a new joint venture this year in which Jiangsu put forth EUR3 million and Tekes put forth its EUR3 million into projects in which Chinese and Finnish organizations submit joint proposals to compete for funding. The pre-application phase of this project closed [March 15].

Can you give us a preview of what you’re seeing in these applications?

They’re confidential of course, but they are concerning water issues, wastewater treatment, bio-energy and energy efficiency.

Can you describe what Finnish and Chinese collaboration has been like in the past?

In the past, the bottleneck for deeper collaboration has been from Finnish companies being too careful, hesitating to partner with Chinese companies. So there is a real need for this governmental level of guidance. It used to be that Chinese companies were more interested in the collaboration with Finn-

SPOTLIGHT FINL AND

ish companies, but nowadays there is such huge potential here in China that the competition between many foreign countries to collaborate with China is quite high.

What are competitive advantages of Finnish companies?

Finland in particular is part of a discussion on not only clean tech, but also “cold” tech. We are a cold country, and our buildings are very well built and very energy efficient, and this has been the case for years. So we’ve always had these cold tech solutions.

Sometimes something is so obvious that you forget to commercialize it.

In Shanghai, I can turn off the heat in a room and it takes less than an hour before the room is ice-cold – the buildings are really poorly built. This is one area where Finland has a definite advantage. China actually first suggested that maybe China and Finland collaborate in artic research, and we thought, “Ah, yes, exactly!”

How is your organization encouraging Chinese companies to adopt more environmentallyfriendly building practices?

What I think we actually need are some pilot projects and demonstrations. We need to get potential Finnish entities together, and look up the value chain at who of the key players are. Of course, the Chinese need to do the same thing, and then we can create a pilot project. Once we can say, ‘Ok, this works,’ we can use that as a reference point for future projects.

Then maybe that can open up a new way of thinking in our Chinese part-

ners, and maybe even influence the regulations themselves. But it’s a long road here in China. We have trial projects in Finland that are what I call “post-smart city” projects. The second level of smart city is utilizing crossindustrial cooperation, and extensive use of internet communications technology.

Once you have a promising pilot project, what’s the next step for getting China’s central government’s attention?

We are now working on a clean-tech China strategy, and this is one of the questions we’re asking ourselves. We’ll be ready with the first of several strategy phases by this summer. Hopefully we’ll get the results that allow us to work on some kind of a smart city concept in China. We hope the Finnish companies will commit, but we need the plausible players, those organizations that can really create solutions specific to China. Those are the instances in which China’s central government would seek more widespread collaboration.

Who are the plausible players?

There are a few small companies that have high-tech solutions, but they can’t really partner with a much larger Chinese company. You need a larger entity, scale is really important. The Finnish companies we fund have to be successful already, and the money we provide is risk money, it allows them to try something they wouldn’t have tried without it. We’re not a charity.

What about China appeals to

foreign innovators in clean tech?

There is huge potential, and the Chinese government has realized that they really need to do something, especially concerning the air pollution in Beijing and other cities and complaints about water issues. The pressure has really built.

What shifts are underway in China’s clean tech landscape?

Well, one important project that has been going on now and that could be further developed in the future is linking China and Finland together in the shipbuilding industry’s value chain.

Finland has been a very strong shipbuilder, and now this business is heavily concentrating on East Asia, China, Korea and Japan. And clean tech is a very big part of this. Shipbuilding is going to go into greener areas in the future. Because we have a lot of know-how in this area, we need to find a new home for this know-how. So we’re looking into how to do this with China.

What indigenous innovation have you seen in China?

Actually Chinese are very strong in middle-market innovation. They are very good at listening to their customers and innovating together with their customers to satisfy customers’ needs. They’re probably better in this than many Western countries. We in the West just want to sell our hightech solutions, but they really ask the customer. I think China will only get stronger in innovation. It takes time; it won’t happen by 2020 as they say but maybe 2025.

April 2013

63

INTER VIE W

The future of private equity Alberto Forchielli on how private equity must adapt to a China that is no longer the workshop of the world

C

hina’s economic boom through the aughts made many sectors seem like getrich-quick schemes. Often it seemed like anyone with an ounce of business savvy and a few connections could make money. The private equity industry in particular was exemplary of this phenomenon. Upstart firms could promise their investors high returns by buying into most any company and then taking it to IPO. Deal volumes exploded from US$1.6 billion in 2003 to US$15.2 billion in 2011, according to Bain & Co. But like most get-rich-quick schemes, the PE boom was short lived.

As the economy faltered in 2012, the Shanghai Stock Exchange fell back to earth and regulators clamped down on new issues, making it no longer viable

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April 2013

to exit investments via IPOs. But private equity endures in China even if the seemingly weekly industry conferences of the past have disappeared, said Alberto Forchielli, Shanghai-based managing director of Mandarin Capital Partners. Forchielli’s firm has never relied on IPOs to exit their investments, and shrewd firms today will find other ways to cash out on their corporate stakes, he said.

Mandarin Capital Partners is on the verge of closing its latest fund that Forchielli predicts will reach US$650 million (EUR500 million) to focus on investments that bridge China and Europe. Forchielli spoke with China Economic Review on the fund’s investment strategy, the death of outsourcing to China and the future of private equity in the mainland.

What’s the status of your current fund?

The fundraising is surprisingly going well. Even in Italy [Forchielli’s native country], this is amazing. [Just] because it is a tight environment. We are really very happy.

What’s the fund’s basic strategy?

We take both European companies and make them profitable, and Chinese companies and make them grow in Europe.

Let’s talk about Europeans interested in the Chinese market first.

Has investor interest in China changed given the economic uncertainty?

The sectors are changing, because first of all, investing for offshoring [man-

ufacturing] is dead. The people who move production because of lower costs are finished. Nobody’s moving to China for offshoring anymore. People are not opening factories anymore.

There is a lot of investment in logistics, distribution and services. So the nature of the investments has totally changed, and people only invest to penetrate the China market. Fewer and fewer are considering China as a platform for Asia. People invest and their primary goal is to be closer to the market. Not for lower cost because now Mexican [manufacturing costs] are lower than Chinese [costs]. And it is much easier to invest in Mexico frankly than in China.

You mention logistics, distribution and services. Are those the sectors the fund plans to invest in?

No, we are only going to look at four sectors. First is health, and with health, you break it down into pharma, active principle – the molecules you use to make pharmaceuticals –, pharma machinery, medical devices and healthcare software.

The second sector is obviously environment, environmental components.

Not utilities. I don’t want to become a garbage collector. The third is oil and gas equipment, very niche specialty equipment. And the fourth is specialty chemicals. In specialty chemicals, the Chinese are behind. But the key element of all our investment is we invest in areas that require strict certification. For example, if they require FDA approval, environmental approval, they are very sensitive on food safety, pharma safety, because in those sectors they are very authorization and safety

intensive. Because there you have barriers that protect you from domestic competitors.

Because you think that with the expertise of the fund managers, they’ll be able to get the approvals more easily? Or why would your fund succeed whereas others would be shut out of those industries?

I’ll give you an example. We own the largest pharma machinery company in the world. That kind of machine needs to be impeccable. And in order to have an FDA approval, you have to have either our machinery or Bosch machinery. Now, even in China, with all the scandals they are becoming very strict, because there is a lot of political sensitivity. We had an intellectual property case, where we had a Chinese company copy one of our most sophisticated products, a product that turns powder into liquid. They built the plants to produce a copycat of ours. They stole the design and everything. They haven’t sold a single one. Because the word went out in the marketplace, and customers know that they copied our design, so they think they don’t have any technical support, and they don’t trust their machine.

The machine screws up and [they’re in trouble]. So the real barriers are the safety authorization.

So the moral of that story is that the market resolved it for you rather than legal proceedings?

Yeah, the market took care of it. I mean, if I had gone to court, forget it. The market took care of it, they got screwed.

The market punished them. Market punishment, not legal punishment.

Are you looking at the same sectors in Europe as you are in China?

Our sectors are the same across both regions. In Europe, they have automobiles that we don’t want to touch. They look a lot at branding and fashion, we don’t want to touch. They look at lot at machinery and machine tools, we are very hesitant to touch.

So the idea is you make the acquisitions in your targeted sector, then you take them to IPO ideally?

No no no, we prefer trade exits [through sales to other companies].

We stayed away from the IPO slaughter. You can go on my blog to see my 2008-2009 article where I was like “this is crazy.” Now there are 900 companies in pre-IPO stage, [and] 8,000 minority equity position waiting to exit. So at the current pace there is already 30 year backlog.

What will the private equity market look like going forward?

Nobody knows. The initial IPO driven model is broken. So I think we are going to have a few years of fairly low market activity. I’m not talking about venture capital, I’m talking about private equity. We all know we have to shift to majority buyouts, buy and build strategy [of buying and merging several companies], but it’s still not possible.

Whether it’s going to be three, four, five years, god knows. But the Chinese PE market is going to be bad for a number of years. That’s why everybody is talking about outbound. All the Chinese private equity firms are talking about outbound but they don’t seem to be able to set up an office [in Europe].

April 2013

65

REPOR T

These are the droids you’re looking for China is scowling at Google’s not-so-open Android operating system – with good purpose

T

hree years after Google pulled its servers out of China, the company has never been more popular on the mainland – not because of its search engine but rather its Android operating system for smartphones. As the number of Chinese who use Google to search the internet dwindles to a mere 15% of the Chinese market, up to 90% of those using smartphones in the country are thumbing through pictures or listening to music using Android.

This has the Chinese government more than a little distressed, considering the company and the country fell out over censorship issues in 2011. In a report last month, an institute affiliated with China’s Ministry of Industry and Information Technology accused Google of discriminating against Chinese developers by not sharing Android code with them or sharing with some developers before others.

The China Academy of Telecommunication Research report also called out Chinese software developers for being overly reliant on Google’s so-called “open-source” technology, which should give programmers free access to the code with which the product is crafted.

On the surface, Google looks like an unlikely enemy in the Chinese smartphone market. The company essentially set the foundation for now popular

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April 2013

Chinese-made smart devices by offering its free, customizable operating system (OS). Without Android, Chinese smartphone makers would either have to strike costly deals with OS designers such as Microsoft, or develop their own systems, which could take years and still fail to grab substantial market share.

That said, the Chinese government institute’s remarks were not simply a case of China trying to edge out successful, imported products and replace them with domestic ones. The peculiar features of what once looked like symbiotic relationship between Google and Chinese phone makers is enough to give analysts pause. The question at hand: How does Google intend to use its power as the cornerstone of a highend telecommunications market that will double in size this year?

An OS by any other name Despite it being the platform for up to nine out of every 10 smartphones in China, the appearance and functionality of Android varies between devices.

Many Chinese smartphones that use Android don’t feature Google applications, nor do they look much like Google products.

Chinese smartphone markers “skin” Android before installing it on phones. That means companies such as Lenovo, ZTE, Huawei and handfuls of smaller brands redesign what the interface looks like to help brand and personalize their products, while the underlying functionality remains the same.

Skinning is about as far as most Chinese phone companies go. And that’s because Google makes it hard to rewrite the system itself. This is

one detail that irks the Chinese government: the open-source nature of Android isn’t open enough. The China Academy of Telecommunication Research is correct to say the Google maintains tight control over the core of Android technology.

The comments were really the first push from the Chinese government against pervasive external control over the mainland’s smartphone market. “I think China is just pressuring Google on the open-source point,” says Ben Bajarin, director of consumer technology at San Jose-based market intelligence firm Creative Strategies, referring to the point at which developers outside of Google are permitted to code the software.

The fundamental building blocks of most open-source software is codeveloped by a company and a community that has access to the code.

This isn’t the case with Android, Bajarin said. Google gives its Android code to the community after it designs it. Only then can developers rework the software. Chinese developers still redesign some of the software’s basic codes but that can cause problems later with implementing official Android updates.

One solution, Bajarin said, its to hand over the code at an earlier stage and let Chinese phone makers customize the system itself. They might as well. Most analysts agree that the high degree of skinning Android in China has left the company with little benefit despite the high rate of penetration.

Skinned Androids on ZTE or Xiaomi phones don’t have the Google search bars or Google applications that bring the company advertising revenues.

“They aren’t making anything off of

this,” Shiv Putcha, principal analyst for emerging markets at global technology consultancy Ovum, said of Google’s prominence on Chinese smartphones.

“Google has no interest in supporting [Chinese phone makers] or working with them if they’re not getting anything back.”

‘The moment they step out’ But it’s not just a one-sided deal in which Chinese companies have surged to the forefront of the country’s smartphone market with the help from a free operating system. In the long run, reliance on Android could end up costing Chinese phone makers, especially if they suddenly find themselves in head-tohead competition with Google.

While Android is open-source, and therefore generally does not require Google’s legal authorization, the company can informally influence companies that use the OS. No case better illustrates the point than the Acer and Alibaba phone release that came to a crashing halt last September. Acer canceled the release of a phone that used an Alibaba-developed operating system after Google objected, saying that the OS, called Aliyun, was an unauthorized version of Android.

More than 90% of Acer’s other phones use Android, so when Google spoke, the Taiwanese technology company listened. To the protest of Alibaba, the phone never hit the market.

It was an unprecedented display of power by Google that hints at the leverage it has over companies that heavily rely on Android.

As Chinese phone makers such as ZTE and Huawei take bigger steps abroad, their reliance on Android could put them in a similar situation.

Imagine if Huawei and now-Google-owned Motorola came into direct competition in a foreign market, said Putcha of Ovum. Google could use its control over the operating system to hinder a competitor’s business as they try to move overseas. For starters, control could come in the form of delaying the release of new code to certain companies.

“If you can’t [beat] them in China, the only thing you can do is wall them in, contain them in China, and [beat] them the moment they try to step out,” Putcha said, although he noted that such a situation was purely hypothetical.

Phone makers in China are hedging their bets by launching select phones with other systems, such as Windows.

But this adds to costs and detracts from companies’ ability to tap the low-end phone market – projected to be by far the biggest segment this year. Furthermore, China has no serious contenders for a domestically developed system.

There is little hope of an indigenous Chinese OS regardless of how much cash companies or the Chinese government throw at research and development, Putcha said. He points to the case of the Blackberry system which is struggling globally despite the large amount of time and money the developer, BlackBerry, puts into it.

The China Academy of Telecommunication Research’s warning to the industry was prescient. But Android’s lock on the market is unlikely to ease soon. As a last resort, the Chinese government may find itself back in the boardroom with the likes of Google.

However, this time the government may have less leverage than three years ago when it told the company to conform or be exiled.

April 2013

67

REPOR T

Watchful eye US regulators fighting to audit Chinese companies may be purposefully leaving investors in the dark

S

pring is here, yet American and Chinese securities regulators show few signs of waking from their apparent hibernation to restart negotiations on the future of US-listed mainland firms.

For years, agencies on both sides of the Pacific have battled over whether US regulators can access the financial documents of Chinese firms. The dispute came to head late last year when regulators from both countries met in Washington, DC, but failed to strike a deal. Rumors in the Chinese press also circulated that the Chinese regulator had submitted recommendations to the State Council on how to deal with the US but results from this have yet to surface. Accountancies, including the Big Four, continue to refuse to cough up the paperwork, opting to uphold Chinese law that guards the state secrets that corporate documents might contain.

Observers say pressure is now building on the US’s Public Company Accounting and Oversight Board (PCAOB), the congressionally appointed body that has tangled with China on the issue for more than three years, to finally take action. But the PCAOB has reason to drag its feet since its actions could lead to a historic delisting of US$100 billion in securities if it boots Chinese firms from New York exchanges.

Such a looming possibility creates a tremendous amount of uncertain-

68

April 2013

ty for investors. Regulators say there is no timeframe for taking action – or at least one that is available to the public. Depending on how the board proceeds, its action could remain out of public view for some time. In the meantime, the possibility of Chinese companies cooking their books free from regulatory oversight will also continue to hold back interest in USlisted Chinese firms.

Turning up the heat Very little has changed so far in 2013.

Chinese firms have halted IPOs in New York. The PCAOB and China Securities Regulatory Commission have maintained an eerie quiet on where the talks are headed.

Scandals regarding the veracity of Chinese company financial reporting have continued to rock the market

into the New Year. In late January, US machinery maker Caterpillar said it would write off US$580 million of the US$700 purchase of China’s ERA Mining Machinery due to accounting misconduct at the Chinese firm. The US company said ERA had overstated its 2011 profits before the buyout in June last year.

“The fiasco at Caterpillar certainly turned up the heat, since it shows that accounting problems in China have not gone away,” Paul Gillis, an accounting professor at Peking University’s Guanghua School of Management, said on the urgency for the PCAOB to take action.

There was a flurry of activity at the end of 2012 before the silence this year. The US Securities and Exchange Commission in early December brought charges against the Chinese

affiliates of five of the largest US auditing firms after they refused to produce the auditing work on nine unnamed Chinese companies. The cases, most notably the one against Deloitte, are moving slowly through the US legal system.

Out of sight The last reference to timeframe for action came more than two months ago. On December 31, the PCAOB reached what Gillis called a deadline to inspect foreign accounting firms. In fact, he says the board is now operating out of compliance with its own rule to inspect Chinese companies by the end of 2012. The PCAOB has pushed back against that, saying the so-called deadline was no more than the expiration

S ytilauQ" erp eht

“

of a previous rule, and that the board has the right to make another rule.

The PCAOB has declined to answer China Economic Review’s questions regarding a timeframe for the talks with China. A spokeswoman said there was nothing to add to what was already public.

Perhaps what’s public and what’s not that makes all the difference at this point. Gillis pointed out that if the PCAOB’s negotiations proceed without results, it could propose deregistering the accounting firms. The proposal would be public, alerting investors to what could very well lead to the biggest delisting process in the history of capital markets.

However, there is another option – one that could be out of the public

eye for quite some time. The PCAOB could start taking disciplinary actions against individual accounting firms.

But in this case, the actions would not be made public until they are final. If the board chooses to take individual actions to tackle this drawn out, international regulatory dispute, Gillis said “it could be considerable time before we learn of them.”

The silence taken as inaction during the beginning of 2013 could simply be the PCAOB pursuing individual auditors – or at least the beginning of such a process. But this method would leave out opportunity for public participation in the process. It would also no doubt put investors even deeper in the dark on the state of their investments in Chinese firms.

2013年中国宏观经济分析与游艇产业投融资发展高峰论坛 4月12日 13:00-15:00 上海世博展览馆 浦东国展路1099号 2号馆沙龙区A 概况 Overview

议程 Program

China Economic Review 中经评论自 1990 年创立以来，20 年间，一直坚持以独到客观的视角观察和洞悉中国经济发

13:15 - 13:45

登记 Registration

13:45 - 14:00

中国游艇产业政策环境分析与投资前景评估 《中经评论》首席执行官兼发行人 晏格文 Welcome Remarks

14:00 - 14:30

2013年中国宏观经济展望—以稳破局，增长无忧 国泰君安证券研究所宏观研究 汪进 博士 Dr. Wang Guotai Junan Securities Research Institute

14:30 - 15:00

闭幕致辞 Closing Remarks

生的巨大变化。在见证和参与了一线城市的资本市场发展 之后，正将视线集中在飞速成长的优秀二三线城市。 由于中国地域广阔，区域间资源分布不平衡，二三线城 市的机会相对有限，大多数投行和基金首先选择在大型 都市和成熟经济圈开展业务。为推动二三线城市的发 展，China Economic Review 中经评论通过与当地政府部 门、本土金融机构和法律审计机构的合作，让本土企业能 够获得与国内外投资机构与投资人直接对话交流的机会。

参会嘉宾 Who should attend? 律师 / 会计师 / 财务总监 / 首席执行官 / 税务策划师 / 总经理 / 法律咨询师 / 高净值人士 / 业务发展总监

活动细节 For Events Details： 联系人: 徐君Allen Xu 电话: + 86 21 5187 9633 * 852 电邮: allen.xu@sinomedia.net April 2013

69

看中国

面子 中国人的社交往来莫不以面子为准则 文 | 晏格文 (Graham Earnshaw)

放

晏格文

眼中国或全世

该书于19世纪30年代写成，当时中

更可以当礼物一样‘赠送’。这里吾们达

界，林语堂先生

国正经历巨变，但仍与旧时代有着明显的

到中国人社会心理最微妙奇异的一点，抽

无疑是20世纪最伟大的

牵连。这种牵连在此后的数十年受到了严

象而不可捉摸的，但却是最高等最精细的

作家之一。他生于1895

峻的考验。尽管如此仍有许多地方没有变

规范。中国人的社交往来，莫不依此为准

年，卒于1976年。他的

化或变化甚少，并且大多为“国民性”的

则。”

英语水平甚至比我高出一

根基。

如何定义中国人的“面子”？

大截。他对中国的语言、

在林先生的众多观点中，有一条至今

文化和心理的捕捉更是无

与现代中国密切相关，那就是他认为这个

林先生总结道：“‘面子’的意义，

人能及。他于1935年以

国家被“阴性的三位一体”所统治。和官

不可翻译，亦无从予以定义。它好像是荣

僚无关，它们分别是面子、命运和恩惠。

誉而不是荣誉，它不能用金钱购买却给予

中英两种语言出版的著作《吾国吾民》无 论在国际上还是中国都是畅销经典。两个

“这三位姐妹过去统治着中国，现在

男男女女一种实质的光辉。它是空虚无实

版本都由他亲自执笔。这本试图对“国民

也如此。唯一真正值得一试的革命是反对

际的,而却是男人家争夺的目标，又有许多

性”进行心理分析和阐述的著作本质上即

阴性三位一体的革命。问题是这三位女人

妇女为它而死。它是不可目睹的，但是它

是对中国人生活的验证。

是那样地斯文，那样地迷人。它们使我们

却存在而展开于公众之前。它存在于太空

我经常听到中国人和外国人谈起中国

的祭司堕落，向我们的统治者献媚，保护

之间，其声息似可得而闻；且其声崇高而

的变化节奏如此之快，今非昔比。从表面

强者，引诱富豪，麻醉穷人，贿赂有雄心

充实；它不负公理上的责任，却服从社会

上看的确如此，在某些根本性的领域里也

壮志的人，腐蚀革命阵营。”

底习俗，它耽搁诉讼，拆散家产，引起谋

是如此。但这并非全部。对未改变的事物 的关注是颇有价值的，从这个角度来看， 林语堂对中国文化及心理的观点便更加发 人深省。

面子是中国人的大问题，而且还与想 在中国做出成绩的任何人息息相关。

杀和自尽。但它也常使人经过同乡人辱骂 之后，勉力自拔于流浪无赖的恶行；它的

“它不是一张面孔，可以揩洗或刮

被珍视，高于尘世上一切所有。它比之命

须，却是可以‘得’‘失’‘争取’，

运、恩典，更有势力，而比之宪法更见重 视。它常能决定兵家之胜负而毁坏整个政 府机构。就是这空洞的东西，乃为中国人 所赖以生活者。” 这些面子当然处处可见，但无人会对 它进行如此严肃的探讨。和上世纪30年代 一样，今天丢脸也可能导致一场交易的失 败；而相反，对面子仔细经营则可解决很 多问题，即便是重大难题也可迎刃而解。 “不给人面子是最大的无礼，就像一 位西方人向对方提出挑战一样。许多官员 一个晚上要参加3至4个宴会，宁冒消化不 良的危险，也不使任何一个欲请他赴宴的 主人丢掉面子。” 最后一句话也是当今中国的写照。我 知道也认识许多中国商人和官员，他们正 是如此生活着的。至于命运和恩惠，他们

许多官员一个晚上要参加3至4个宴会

70

April 2013

则将拭目以待。

LOOKING AT CHINA

The Female Triad Lin Yutang’s review of Chinese culture and psychology is highly instructive

By Graham Earnshaw

O

ne of the greatest writers of the 20th century, from China or anywhere else, was Lin Yutang. He was born in 1895 and died in 1976, and his English was better than mine by a long stretch. His grasp of Chinese language, culture and psychology was second to none. He wrote a book published in both English and Chinese in 1935 called My Country and My People, which was an international best-seller in English and of course a big seller in Chinese.

He wrote both of them. The book, an attempt to psychoanalyse and explain “Chinese-ness”, is ultimately proof of the continuity of Chinese life.

I constantly hear Chinese and foreigners saying that China is changing so fast, the pace of change is increasing, everything is different. Superficially, that is true, of course, and in many fundamental areas as well. But not all. It is worth focusing once in a while on what has NOT changed, and in this regard, Lin Yutang’s review of Chinese culture and psychology is highly instructive.

He was writing at a time, the 1930s, when China was in the midst of massive changes but still had clear and unbroken continuity with the past.

That continuity has been severely tested over the decades since. But nevertheless there are many points where there has been little or no change, many of them fundamental to “Chinese-ness”.

One of the many good points Mr Lin makes that is still highly relevant to China today is that he says the country is ruled by what he calls “The Female Triad”, something that has nothing to do with members of the politburo.

They are Face, Fate and Favor.

“These three sisters have always ruled China, and are ruling China still,” he wrote. “The only revolution that is real and that is worthwhile is a revolution against this female triad. The trouble is that these three women are so human and so charming. They corrupt our priests, flatter our rulers, protect the powerful, seduce the rich, hypnotize the poor, bribe the ambitious and demoralize the revolutionary camp.”

Face remains a key issue in China, and one that is of relevance to anyone trying to achieve anything here.

“It is not a face that can be washed or shaved, but a face that can be “granted” and “lost” and “fought for” and “presented as a gift,” says Mr Lin. “Here we arrive at the most curious point of Chinese social psychology.

Abstract and intangible, it is yet the most delicate standard by which Chinese social intercourse is regulated.”

But how to define “face”?

“Face cannot be translated or defined,” Mr Lin concludes. “It is like honor and is not honor. It cannot be purchased with money, and gives a man or a woman a material pride. It is hollow and is what men fight for and what

many women die for. It is invisible and yet by definition exists by being shown to the public. It exists in the ether and yet can be heard, and sounds eminently respectable and solid. It is amenable, not to reason but to social convention. It protracts lawsuits, breaks up family fortunes, causes murders and suicides, and yet it often makes a man out of a renegade who has been insulted by his fellow- townsmen, and it is prized above all earthly possessions. It is more powerful than fate and favor, and more respected than the constitution. It often decides a military victory or defeat, and can demolish a whole government ministry. It is that hollow thing which men in China live by.”

Face in these terms exists elsewhere, of course, but is not treated with such seriousness. A loss of face today, just as in the 1930s, can end a deal, just as attention to face can allow for a satisfactory conclusion even in the face of significant differences.

“Not to give a man face is the utmost height of rudeness and is like throwing down a gauntlet to him in the West,” says Mr Lin. “Many officials attend between three and four dinners in a night and injure all their chances of a normal digestive system rather than make one of their intended hosts lose face.”

That last line is so true of China today. I have known many Chinese businessmen and officials who live that way.

April 2013

71

话题

“房奴”欧阳修 宋朝文人对于房子的态度与当今大多数中国人并无二致 文 | 李开周 经济生活史作家

欧

阳修是北宋名臣，

又是一个很不幸的官二代—他父亲在他

修给侄子写过一封信，说“居官宜守廉，

是文坛大腕，是

刚出生的时候就去世了（一说欧阳修是遗

不宜买官下物”，意思是为了做一个真正

唐宋八大家之一，他的

腹子，即父亲在他出生之前就死了）。父

清廉的干部，甭说贪污受贿，就连辖区内

《醉翁亭记》脍炙人口，

亲一死，家里没有了靠山，也失去了经济

的东西都不要买（以免别人通过低价卖给

妇孺皆知。但是很少有人

来源，甚至连一所房子都没有，还在襁褓

长官的方式来变相行贿）。实在讲，宋朝

知道他还是个“房奴”。

里的欧阳修只好跟着母亲去叔父家借住。

官员薪水是很高的，但是一个不收丝毫贿

这一住，就是二十五年。

赂的官员要想买一所称心如意的房子，还

我说欧阳修是“房 奴”，不是指欧阳修买房

欧阳修从二十五岁开始工作，一直

是会觉得力有未逮，因为在欧阳修那个时

时贷了很多款，然后节衣

到四十二岁那年，始终都没有置下一所房

代，房价比薪水还要高。究竟有多高，将

缩食还贷，拼命工作，却

子。这十八年当中，他做过好几任京官，

来有机会咱们专门再谈。

不敢花钱，小日子过得紧巴巴的，就像今

也做过好几任地方官，做京官的时候就在

欧阳修买房的愿望非常强烈。他见

天按揭买房的广大工薪族那样。

开封租房住，做地方官的时候就住在衙门

同年进士刘中允买了房，很羡慕；见自己

李开周

欧阳修完全属于另外一种“房奴”。

大院里。换句话说，他一连度过了十八年

的下属张谷买了房，很眼红。他在开封租

他买房时没有贷款（虽然他那个时代已经出

的无房生涯，如果再加上做官之前和母亲

房的时候，给朋友梅圣俞写信，说“吾居

现了贷款买房和贷款装修的社会现象），

借住叔父家房子的那二十五年，他的无房

传邮耳，此计岂踌躇？”我租的房子就像

他也没有为了买房而缩减日常开支，他用

生涯其实长达四十多年。

一个驿站，将来一定要买房；他在滁州住

不着像今人一样被银行按在地上，然后每

宋朝有位大官叫寇准，为官四十年，

衙门大院的时候，给朋友曾巩写信，又说

月揭一层皮，但是他的的确确为了拥有一

始终不买房，连皇帝赐给的府邸都不要，

官舍“如传邮耳”，不能当成家。什么样

所属于自己的房子而耗掉了大半生光阴，

时人写诗歌颂，说他“有官居鼎鼐，无地

的房子才能当成家？只有自己的房子才可

他跟咱们现代中国人一样做过房子的奴

起楼台”，风格之高无人能比。但寇准

以。

隶。

是个非常出奇的特例，欧阳修跟他并不一

四十二岁那年，欧阳修终于如愿以

用现在的话讲，欧阳修是个官二

样，欧阳修之所以不买房，只是因为钱不

偿，在安徽阜阳（当时叫颍州）买了房，

代—他父亲在四川做过官。不过欧阳修

够。为什么钱不够？因为不贪污。欧阳

而且还买了地。之所以在阜阳买房，是因

安徽滁州的醉翁亭纪念馆，欧阳修曾写下传世名作《醉翁亭记》

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April 2013

为阜阳有西湖，风景优美，是欧阳修最喜

原因所在，就像现在中产阶级买了一套房

们都大了，感到很着急，也写了两句诗：

欢的地方。

子还要买第二套房子，买了第二套房子还

“吾老未有宅，诸子以为言。”意思是我

要再买商铺，好让儿女将来可以碌碌无为

活这么大年纪还不买房，儿子们肯定要埋

混吃等死一样。

怨我。当我读到张耒和苏辙这两个人的诗

买了房子是不是就完成心愿了呢？不 是。从买房以后，到去世以前，欧阳修又 花了二十多年时间来扩建和装修房屋，即

从宋朝到今天，从欧阳修到我们，时

使是在外地做官、公务繁忙的时候，也不

光流逝得很快，但是对于房子的心态似乎

忘遥控指挥着家人在阜阳购买其他房产。

句以后，我就知道又有两位“房奴”横空 出世了。

从未改变，那就是必须拥有一所属于自己

行文至此，我相信您已经明白我所

等到欧阳修快去世的时候，他们家在

的房子，不然住着再大再豪华的房子都不

说的“房奴”的意思，它不是指先按揭后

阜阳的房子已经多达百余间了，家里人住

安心；另外有了房子以后，还要再买更多

还贷的购房者，而是指欧阳修那样为房子

不完，多余的全部租出去，每月可以收回

的房子，不然就觉得没有对下一代尽到责

付出大半生光阴的人，是指张耒那样因为

一大笔房租。除了房子，欧阳修大约还置

任。

在租来的房子里招待宾客而感到没面子的

下了两百亩田地，这些田地也都租出去给 佃户耕种，收回的租米用于养家。

欧阳修去世以后没几年，一个名叫

人，是指苏辙那样到了晚年还要为后代置

张耒（苏门四学士之一）的年轻人在开封

业的人。我当然知道他们已经死了很多很

欧阳修有四个儿子：欧阳发、欧阳

城南租了房子，朋友去拜访他，他写了两

多年，但是他们的”房奴”特性仍然存活

奕、欧阳棐、欧阳辩。这四个儿子后来都

句诗：“谁令僦舍得契阔，此事我每愧古

在大多数中国人的身上。（作者已出版

做了小官，都有自己的薪水。假如他们不

人。”僦舍即租房，契阔就是聚会，他是

《民国房地产战争》《君子爱财：历史名

做官，光凭欧阳修晚年置下的房子和田

说自己没有买房，只能在租来的房子招待

人的经济生活》《千年楼市：穿越时空去

产，大概也不至于挨饿。我想这也是欧阳

朋友，很没有面子。再后来，苏东坡的

古代置业》《食在宋朝：舌尖上的大宋风

修之所以买了房子以后又继续买房买地的

弟弟苏辙做官多年尚未买房，眼看儿子

华》等书籍）

贝灵哲最新纳帕谷顶尖佳酿 于上海奢华亮相 贝灵哲倾情推出 2009 年份庄园特选加本力苏维翁葡萄酒 和 2010 年份纳帕谷加本力苏维翁葡萄酒 纳帕谷是美国加利福尼亚州享负盛名的加本力苏维翁种植区，而于纳帕谷历史 最悠久、荣获殊荣最多的酿酒庄园 — 贝灵哲，刚宣布在上海隆重推出最新纳 帕谷顶尖佳酿。这是贝灵哲首次于中国大陆推出纳帕谷加本力苏维翁葡萄酒， 及首度邀得其名誉酿酒师 Ed Sbragia 介绍旗舰系列的庄园特选加本力苏维翁葡萄 酒，让中国的葡萄酒爱好者和鉴赏家有机会一品纳帕谷顶尖佳酿，尊享至臻佳 酿的醇香。 贝灵哲将其先进的科技与历史悠久的传统相结合，在《葡萄酒观察家》与《葡 萄酒倡导者》举办的评选活动中，以90 多分的优异成绩在美国所有酒庄中独领 风骚。贝灵哲名誉酿酒师 Ed Sbragia 表示：“贝灵哲素以开拓进取的创新精神而 着称。在 137 年的酿酒历史中，我们始终坚定不移地秉持这种精神，并且直到 现在，这种精神仍然在推动我们不断谱写新的传奇，让我们的葡萄酒不断迈向 新的市场。庄园特选加本力苏维翁葡萄酒让贝灵哲在美国家喻户晓，我们亦相 信这款葡萄酒定会在全球市场同样受到热烈欢迎和推崇。” 关于贝灵哲 自 1876 年成立以来，贝灵哲一直是加利福尼亚州酿酒庄园的典范。名誉酿酒 师 Ed Sbragia 和酿酒师 Laurie Hook 致力于利用纳帕谷最好的产区和贝灵哲的精 选优质葡萄，潜心酿造经典传世佳酿。位于加利福尼亚州圣赫勒拿的莱茵庄园 具有重要的历史意义，并于 1934 年向公众开放。作为首个向公众开放的酿酒 厂，莱茵庄园始终如一地秉承热情好客的优良传统，向世人展示纳帕谷的独特 魅力和卓然风采。www.Beringer.com

April 2013

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西游记

云雾谷 晏格文(Graham Earnshaw)生于英国，现居上海。他以上一次落脚点为起点，行程从上海一路向 西，横贯中国。本月，他已行至巫山通往奉节的山区。 文 | 晏格文(Graham Earnshaw )

着长江边上从巫山到奉节和从宜昌

沿

是，我从未研究过花的品种而且只认识玫

钟，其中一个小伙子载着那位浓妆艳抹的

到万州的距离相当。位于三峡东西

瑰和郁金香，于是只能离开。不过我知道

姑娘赶上了我。他问我要去哪里，我说西

两端的城市依山而建，但是相距甚远。山

在英国花园中栽培的花朵多数移植于中国

藏，接着我向他提问。

路顺着峡谷弯弯曲曲，沿路有零星农舍点

的野生地带，正如我眼前的野花。

缀。没有地方可以买到瓶装水，这也是徒 步步行中的重要组成部分。 雨停了，夏日的酷暑即将耀武扬威。

他叫王德军，来自奉节，曾经是农

农舍墙上的标语大多数与火相关，

民而现在是农民工。目前他正返乡并送他

如“防火护林”—旨在阻止农民为获得

的孩子去巫山的一所学校。他妻子也是农

用做肥料的木灰而焚烧树木。

民工，现在在重庆工作。他在巫山的夜总

同时，充满春意的世界却在雨后的清新中

我沿着这条路不断上行，但还是没

闪闪发光。蔬菜色泽鲜亮，显示出土地的

有走出103省道。45度斜坡上的农田里

会把这个姑娘接出来，并带着她去奉节做

深沉与活力。我穿过雾气，在窄路上跋

种着玉米、土豆和芝麻。大多数农舍都是

“你喜欢她吗？”他问我，视线瞥

涉。一块悬崖出现在右方，并朝着谷底以

用红砖搭建的，老旧的泥砖农房也并未消

向那姑娘。要在不为难或冒犯她的前提下

60度角的方向倾倒。我花了一小时在雾气

失，它们高居山坡，但是数量却远远无法

回答这问题颇有难度，后者正在专心致志

缭绕的云河上时进时出，这些雾气汇成一

与前者相比。我在路上与两个小伙子擦身

地研究地面。“如果你喜欢可以把她留下

股股淙流，爬上了山坡。

而过，他们将摩托车停在路中央，自己则

来。”我拒绝了他的邀请。

“游伴”，他说话时姑娘在一旁听着。

我对花卉关注了许久，主要的色彩

蹲在地上抽烟聊天。一个姑娘站着欣赏风

“今晚我们一起去巫山吧，”他继续

是紫色和黄色。我认出了雏菊，但遗憾的

景。我打了声招呼继续往前走，过了几分

说，“我可以带你到处转转，非常安全。 一个姑娘只要100块钱，三四百就能挑个 好的了。别担心，我跟着你，他们不会骗 你的。” 我说可能是这样吧。他闻起来一股 酒味，这在大白天的中国农民身上并不罕 见。他坚持让那姑娘把手机号留给我，方 便我下次来的时候联系她。“她可以带你 到处逛。”他说。那姑娘尴尬地笑了笑。 我在农舍的墙上看到很多关于“毒 品”和鸦片的标语，“种植毒品是违法行 为”，这是当地镇政府贴在电话杆上的一 则红色标语。我遇到了一位正在修补被雨 水冲垮的墙壁的农民。他50来岁，但是看 起来比实际年龄老多了，因为饱经风霜， 生活艰辛，家有四个孩子。他15岁左右

山谷依然有一半沉浸在雾气中

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April 2013

的长子跑出来看我这个外国人。老农民让

TR AVEL JOURNAL

儿子用英语同我对话，但他实在是太腼腆 了，甚至无法回答我念得又慢又清楚的问 题：“What is your name?” 我把名片交给老农民，他腼腆地把 名片推开并说自己是文盲。他把名片转交 给儿子让他读出来，并为儿子感到非常骄 傲，甚至还有点敬畏他的识字能力。 他身体健朗，自己种玉米、土豆和芝

Flowers and Mist Graham Earnshaw was born in England and now lives in Shanghai. He is walking west from Shanghai across China, starting always from the last place he stopped. This month, we find him west of Wushan

By Graham Earnshaw

麻，还养了两只鸡和五头猪。我问他关于 鸦片的情况，他表示目前山里还在种植。 当我问他是否吸食鸦片时，他摇摇头并警 惕地看着我。 大量的蝴蝶在周围飞舞着，大小各异 色彩鲜艳。一只比麻雀还要大上一圈的黑 黄相间的蝴蝶在一朵紫花上吸食花蜜，逗 留之久足以让我拍好一张照。我还看见一 只几乎完美地伪装成岩石的豹纹蝶，还见 到成群结队的蚂蚁将各种昆虫和食物运到 蚁穴中。 我爬到位于海拔1340米的道路顶 端，再从一个山谷走到另一个。该高度是 自我从上海出发后所到达的最高点。俯瞰 的山谷依然有一半沉浸在雾气中，蔚为壮 观。输电塔矗立在路边，将三峡大坝的电 力源源不断地向西输送。在一个拱门上还 有一条双语标语“巫山公路巡警祝您一路 平安”。 接着我顺坡而下进入到一个东西向的 大山谷，其中散布着宽大的山坡和零星的

T

he region between the Yangtze River towns of Wushan and Fengjie is pretty much equidistant from Yichang and Wanzhou, the cities on the eastern and western limits of the Yangtze Gorges mountains and it feels very remote. The road veered up a long valley in the mountains, and then down another. In over 40km, I passed only one small village, and while there was a steady sprinkling of farmhouses along the way, there was almost nowhere to buy bottled water, which is an essential part of a walk across China.

The rains had ended, and the summer heat was about to re-assert itself.

But in the meantime, the spring world glistened in rain-washed clarity, the colors of the vegetation were bright,

and of the earth deep and sonorous.

Mist covered the valley as I trekked up the narrow road, with a cliff overhang on the right and a 60-degree drop down to the valley floor on the left.

I spent an hour moving in and out of rivers of mist, which climbed the mountainside in discreet flows.

I spent time looking at flowers.

Purple and yellow dominated. I recognized the daisies, but apart from that I was left with regret that I had never paid any attention to categories and knew nothing of flowers beyond roses and tulips. But I did know that the flowers cultivated so assiduously in English gardens were largely transplants from wild places in China such as this.

农田，从海拔1600米的山峰到不到300米 的谷底都可见到。那是一个广阔、隐蔽而 平静的山谷，远处的山峰蒙了一层灰色的 薄云，整个景致看起来含蓄而舒心。身处 这个空间里感觉心情愉悦，双眼有幸饱览 如此美景。 下方可见通往奉节的公路，蜿蜒向 下。牛铃声从山坡上传来，不久后我就在灌 木丛中看到了四五头正在吃草的牛。我路上 看到了一个在路边贩卖蘑菇的男孩，那些 装在柳条篮里的亮橙色蘑菇和他的双手一样 大。那里的蝴蝶比之前更多，它们有亮红色 的眼睛和又黑又长的双腿，醉心于花蜜的它 们甚至没有发现离它们几英寸远的相机镜 头。路边的树上挂着浆果和李子。一条标语 写着“珍爱生命，远离毒品”。

April 2013

75

TR AVEL

The slogans daubed on the farmhouse walls mostly related to fire – protect the forests, prevent fire - and were aimed at stopping farmers from deliberately burning sections of woodland in order to collect the ashes for fertilizer.

Up and up I went along this road, still provincial highway 103. The fields, many at 45-degree angles, contained corn, potatoes and sesame seeds. Most of the farmhouses were made of red brick. The older mud-brick houses were still there, high up on the slopes, but were already well out-numbered.

I passed two guys by the road, their motorcycles parked in the middle while they squatted on their haunches smoking and chatting. A girl stood by looking at the scenery. I said hello and kept walking, but a few minutes later, one of the guys drove up to see me with the girl, plump and wearing too much make-up, sitting on the back of the bike. He asked where I was going and I told him Tibet and then I asked about him.

His name was Wang Dejun, he

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April 2013

was a farmer turned migrant worker from the Fengjie area, and he was back home to get his child into a school in Wushan. Meanwhile, he had picked up the girl in a nightspot in Wushan and was taking her back to Fengjie for a few days of acrobatic companionship.

His wife, he said as the girl listened, was also a migrant worker, currently in Chongqing city.

“You fancy her?” he asked, glancing at the girl. It was a hard question to answer without embarrassing or insulting the girl, who was intently studying the ground. “You can have her if you like.” I declined his kind invitation.

“Let’s go to Wushan this evening,” he continued. “I can show you some places. Totally safe. Only 100 RMB for a girl, maybe 300 or 400 for a good one. Don’t worry, I will be with you, so they won’t cheat you.”

I said maybe. His breath smelt of alcohol, which is not unusual for Chinese farmers in the middle of the day.

He insisted the girl give me her mobile number so I could contact her next

time I was passing through. “She can show you around,” he said. The girl smiled uncomfortably.

I was seeing a lot of signs on farmhouse walls about “drugs” and opium – “Growing drugs is illegal”, said one red daub on a telephone pole, signed by the local township government. I came upon a farmer who was rebuilding a wall that had collapsed in the rains. He was 50 years old, but looked much older. A peasant’s life is tough.

He said he had four children, and the eldest son, aged 15 or so, came out of the house to check out the foreigner. His father tried to get him to talk with me in English, but he was too shy to even respond to a slow and clear: “What is your name?”

I handed the farmer my name card, but he pushed it away shyly, saying he was illiterate, then handed it to his son to read. He said he grew corn, potatoes and sesame seeds, and had two chickens and five pigs. He was healthy and strong and clearly proud of his son, even a little in awe of his ability to read. I asked him about opium, and he

confirmed it was still grown up in the mountains, but when I asked if he ever smoked it, he shook his head, eyeing me carefully.

There were many butterflies around, large and small and all colorful. One black and yellow monster, much larger than a sparrow, paused long enough while tasting a purple flower for me to snap its photograph. I saw a leopard-spotted butterfly almost perfectly camouflaged against a rock wall. Ants were out in force as well, carrying various insect road kill goodies off to their dens.

I climbed to the top of the pass at 1,340 meters above sea level and passed from one valley to another. This was the highest point I had yet reached

on my walk from Shanghai, and the views down into the valleys, still partially filled with mist, were spectacular.

Marching through the pass with me were electricity transmission pylons carrying power from the Three Gorges Dam towards the west. There was also a bilingual sign on an arch over the road which said in English: “Wushan policemen wish you a nice trip!”

Then it was downhill into a huge valley, roughly east-west with wide mountain slopes, occasional farms and fields visible, stretching from peaks of up to 1,600 meters down to the valley floor at less than 300 meters. It was a majestic, secluded and peaceful valley, with a thin grey cloud layer that lapped at the peaks on the far side, making the

whole scene seem tucked-in and cozy.

It was a pleasure to spend time in its space, giving my eyes the opportunity to track over such vistas.

The road to Fengjie was visible below, twisting back and forth as it made its way downhill. I heard cowbells on the hillside and later came upon four or five cows feeding in a spinney. I passed a boy by the road selling bright orange mushrooms as big as his hands from a wicker basket. There were more butterflies with bright red eyes and long black legs too drunk on nectar to care about the camera lens only inches away from them.

Berries and plums hung from the trees beside the road, and a sign said: “Love life, keep away from drugs.”

图蓝地产推荐—投资海外地产最佳时机： 随着中央政府政策的变化，国内房产投资市场的投资环境越来越严峻。到底手头的投资资金该流向何处？海外 地产投资市场将会是一个不错的选择。房地产投资的收益主要分为两方面：资产溢价和年租金收益。简单比较 一下中国上海房地产市场和海外地产投资市场（伦敦地产项目和佛罗里达地产项目）的这两项数据来说明海外 地产投资的收益情况。 尤其是目前新的更严厉的宏观调控措施“国五条”的出台更让整个国内房产投资市场变的更加艰难，而政策相 对稳定以及出于历史低点的欧美房地产市场则为您提供了另一个多元化配置自己资产的机会。 房产项目

预期年资产溢价率

预期年租金收益

预期投资回报率

上海房产项目

鉴于目前的泡沫和国内房产市场 相对于高昂的房价，上海房地产 的调控政策，上海房产投资项目 的租金收益普遍较低 的资产溢价预期十分堪忧

2%左右

伦敦富勒姆项目

8%-10%

根据单位不同，租金不同。两室 公寓月租金收入在3000英镑左右

5%-6%

美国佛罗里达项目

10%-15%

根据单位不同，租金不同。月租 金从725美元到1000美元左右

10%左右

如果您对于海外地产投资想有更深的了解，欢迎咨询 AtlasBlue Property 图蓝地产： 电话: +86 21 6093 1700 电邮地址: info@atlasblp.com 公司网站: www.atlasblp.com.cn 公司上海总部地址:静安区南京西路 1468 号中欣大厦 36 楼

April 2013

77

上海国际游艇展瞄准“海陆空” 53 场新品首发奠定亚洲游艇旗舰展

上海国际游艇展“金三角”撒网全产业链 4.8 万方展位 100% 售罄 550条实船亮相

2

013 年 4 月 11-14 日，中国 (上海) 国际游艇展 (CIBS) 将携手中国 (上海) 尚 品生活展 (ELS) 和中国 (上海) 国际休闲产业展 (Expo Leisure) 三大展览同 时同地联手亮相上海世博展览馆。展会包括室内、室外和水上三大展区， 占地总容量将首超 48,000m2，比去年有 37.4% 的增长。 记者向主办方了解到最新消息，截止 2013 年 3 月，已有来自世界 20 个 国家和地区超过 500 家展商，预计携带大小实船 550 艘亮相；意大利、 美国、澳大利亚、英国、西班牙、中国台湾六大国家及地方展团助阵。 第十八届中国 (上海) 国际游艇展已销售近 100% 展位，维持连年上涨的 势头，在 2012 年展会面积比 2011 年增长 25% 的基础上，2013 年展会 面积比 2012 年又上涨超过 20%。截止上周，网上预登记观众数已超过 5000 人，比去年同期增长 43%，保守预计现场观众将超 3.5 万人。交 易额有望增长 30%，保守估计达 30 亿元。

继今年初，主办方成功举办了“中国游艇行业发展前景及未来之路”业 界及媒体座谈会，随着展会日益临近，3 月 13日，主办方再次邀请行业 协会、30 多家国内外知名展商代表及 20 多家主流媒体，举办“展前 30 天最新资讯媒体交流会”。旨在给众多展商提供亮相新产品、新技术，展 示品牌的平台，使媒体、大众提前获取展会最新资讯，以便观展；同时秉 承“亚洲游艇全产业链旗舰展”定位，倡导“海陆空”高端生活相融合， 分享尚品生活展、国际休闲产业展相关高端生活方式。

主办方： 中国船舶工业行业协会船艇分会 电话：52286590 上海博华展览有限公司 电话：64371178 媒体中心：美地行 (上海) 营销策划有限公司 电话：62895289

LISTING Accounting Firms

Tel: +86 10 6591 8087

Room 710, 670 Guoshun Road

School

Fax: +86 10 8599 9882

Shanghai, China, 200433

(CEIBS) MBA

info.bj@harrissec.com.cn

Tel: +86 21 5566 4788

www.ceibs.edu

Guangzhou Office

Fax: +86 21 6565 4103

Tel: +86 21 2890 5555

Room D-E, 11/F, Yueyun Building

Fax: +86 21 2890 5200

3 Zhongshan 2nd Road

admissions@ceibs.edu

Guangzhou, PRC

Shanghai Jiaotong-Euromed

Tel: +86 20 8762 0508

Management AEMBA Program

Fax: +86 20 3762 0543

(MBA/EMBA)

info.gz@harrissec.com.cn

Manchester Business School

www.aemba.com.cn

Hong Kong Office

Part-time Global MBA

Tel: +86 21 5230 1598

Harris Corporate Services Ltd

7/F, Hong Kong Trade Centre

http://china.portals.mbs.ac.uk

Fax: +86 21 5230 3357

www.harrissec.com.cn

161-167 Des Voeux Road Central

Starts July 2013, Shanghai

aemba@sjtu.edu.cn

Shanghai Office

Hong Kong, PRC

Suite 628, 6/F Shanghai Centre,

Suite 904, OOCL Plaza,

Tel: +852 2541 6632

1376 Nanjing Road West,

841 Yan An Zhong Road,

Fax: +852 2541 9339

Shanghai

Jing’An,

info@harrissec.com.hk

Tel: +86 21 6279 8660

Shanghai, PRC Tel: +86 21 6289 8813

Business Schools

International Schools

mba@mbs-worldwide.ac.cn Tongji University SIMBA

Fax:+86 21 6289 8816

Shanghai

A309 Sino-French Center, Tongji

info.sh@harrissec.com.cn

Fudan University - Washington

University, 1239 Siping Road

Beijing Office

University EMBA

Shanghai, PRC

Room 2302, E-Tower, No.12

www.olin.wustl.edu/shanghai

Tel: +86 21 6598 0610

Guanghua Road, Chaoyang,

(English)

Fax: +86 21 6598 3540

Harrow International School

Beijing, PRC

www.fdms.edu.cn/olin (Chinese)

China Europe Int’l Business

Beijing

April 2013

79

LISTING www.harrowbeijing.cn

www.grandmercurehongqiao.com

Office Tel: +86 21 6209 8671

Shanghai, 200042

No. 5, 4th Block, Anzhenxili

369 Xian Xia Road, Chang Ning

study@mandarinking.cn

Tel: +86 21 5241 8028

Chaoyang, Beijing 100029

Shanghai

PRC

Tel: +86 21 5153 3300

Tel: +86 10 6444 8900

Fax: +86 21 5153 3555

Ketchum Newscan Public

www.belvedere.com.cn

Fax: +86 10 6445 3870

reservation@

Relations

Belvedere Service Apartments

agan@harrowbeijing.cn

grandmercurehongqiao-

www.ketchum.com

833 Changning Road, Shanghai

shanghai.com

Shanghai

200050

218 Tianmu Road West

Tel: +86 21 6213 2222

Tel: +86 21 6353 2288

Fax: +86 21 6251 0000

Beijing

Fax: +86 21 6353 2276

leasing@belvedere.com.cn

Beijing Deco Personal Services

Beijing

Lanson Place Central Park

Ltd.

A6, Chaoyangmenwai Avenue

Residences

Saint Paul American School

china.adecco.com

Chaoyang

enquiry.lpcp@lansonplace.com

www.stpaulschool.cn

D 9/F Tower II China Central

Tel: +86 10 5907 0055

Tower 23, Central Park

18 Guan Ao Yuan, Longgang

Place, 79 Jianguo Road,

Fax: +86 10 5907 0188

No. 6 Chaoyangmenwai Avenue

Road Qinghe, Haidian, Beijing

Chaoyang, Beijing

Ogilvy Group

Chaoyang, Beijing 100020

100192

Tel: +86 010 5920 4320

www.ogilvy.com

Tel: +86 10 8588 9588

PRC

Fax: +86 010 5920 4322

Beijing

Fax: +86 10 8588 9599

Tel: +86 137 1881 0084

beijing.cn@adecco.com

9/F Huali Building, 58 Jinbao

Shanghai

spasadmissions@gmail.com

Shanghai

Street, Dongcheng

Lanson Place Jin Qiao Serviced

Shanghai

ADP China

Tel: +86 10 8520 6000

Residences

Livingston American School

www.adpchina.com

Fax: +86 10 8520 6060

enquiry.lpjq@lansonplace.com

www.laschina.org

30/F Golden Bell Plaza, 98

580 Ganxi Road

Huaihai Road Central, Shanghai

Tel: +86 21 6238 3511

Tel: +86 021 2326 7999

Fax:+86 21 5218 0390

Fax: +86 021 2326 7998

Tel: +86 21 5013 3888

Shanghai Community

Marketing_China@cn.adp.com

Fax: +86 21 5013 3666

International School (Pudong

Hudson Recruitment (Shanghai)

Campus)

Co., Ltd.

www.scischina.org

2302-2303, 2201-2206 Hongyi

800 Xiuyan Road, Kangqiao,

International Plaza, 288 Jiujiang

Pudong

Road, Shanghai

Tel: +86 21 5812 9888

Tel: +86 21 2321 7888

Fax:+86 21 5812 9000

shresume@hudson.com

HR/Recruitment

British International School Shanghai - Pudong Campus

Language Schools

PR Agencies

Real Estate/ Serviced Apartments

No. 27 & 28, Lane 399 Zao Zhuang Road, Pudong, Shanghai 200136 PRC

Real Estate/ Business Park

Savills Residence Century Park www.savillsresidence.com No. 1703, Lane 1883, Huamu PRC

600 Cambridge Forest New

Tel: +86 21 5197 6688

Town, Lane 2729 Hunan Road,

info@savillsresidence.com

Pudong Tel: +86 21 5812 7455

Sandhill Plaza www.sandhillplaza.cn 2290 Zuchongzhi Rd, Zhangjiang Hi-Tech Park, Shanghai 201303

Hotels

Tel: +86 21 6075 2555

Shanghai

Leasing@sandhill.cn

Four Seasons Hotel Shanghai

MandarinKing

www.fourseasons.com/shanghai

www.mandarinking.cn

500 Weihai Road, Shanghai

Shanghai

Tel: +86 21 6256 8888

No.555 West Nanjing Road,

Fax: +86 21 6256 5678

Room 1207 12th Floor, Plaza 555

Park View Apartment

reservations.shg@fourseasons.com

Shanghai, PRC

wwww.parkview-sh.com

Grand Mercure Hongqiao

Course Inquiry: 400 618 6685

Block 1-4, No. 888

Shanghai

Office Tel: +86 21 6209 1063

Changning Road

April 2013

Belvedere Service Apartments

Road Pudong, Shanghai 201303,

www.bisshanghai.com

80

leasing@parkview-sh.com

Shenyang Shenyang International Software Park No.860-1 Shangshengou, Dongling, Shenyang City, Liaoning Province, 110167 Tel: +86 24 8378 0500 Fax: +86 24 8378 0528

Real Estate/HOPSCA

Shanghai Jiatinghui Property Development Co., Ltd www.antinganting.com.cn Life Hub @ Anting No 1033 Moyu Rd S, Anting, Shanghai Tel: +86 21 6950 2255 Fax: +86 21 6950 2833 jean.liu@chongbang.com

Service Providers

Tel: +86 10 5905 5905

Zhongshan District

WUHAN

The Executive Centre

GUANGZHOU (5 LOCATIONS)

Regus Wuhan Tiandi –

Shanghai

Regus G.T. Land Plaza (NEW)

Corporate Centre 5

International Finance Centre

12/F, Tower A, Phase 1

8F, Wuhan Tiandi – Corporate

Level 8, International Finance

G.T. Land Plaza, No. 85

Center 5,

Center, 8 Century Avenue,

Huacheng Avenue

No. 1628 Zhong Shan Avenue,

Pudong

Tian He District

Jiang’an District

CITIC Square

HANGZHOU (4 LOCATIONS)

Level 35, CITIC Square, 1168

Regus Euro American Centre

Nanjing West Road, Jing’an

4/F Euro America Center

Xintiandi

18 Jiaogong Road, Xihu District

Level 5, Xintiandi, 159 Madang

NANJING

Road, Luwan

Regus Jinling Hotel Asia Pacific

The Centre

Tower (COMING SOON)

Level 20,The Centre, 989

8 F, Jinling Hotel Asia Pacific Tower,

Apollo Business Center

Changle Road, Xuhui

No. 2, Hanzhong Road,

Apollo Huaihai Center [New]

Chong Hing Finance Centre

Gulou District

4/F, Fuxing Commercial Building

Level 12, Chonghing Finance

SHANGHAI (21 LOCATIONS)

139 Ruijin Road (No.1)

Centre, 288 Nanjing West Road,

Regus Plaza 66

Huangpu

Huangpu

15/F, Tower 2, Plaza 66,

Shanghai

Tel: +86 21 6062 7183

No.1266, West Nanjing Road,

Tel: 021-6136-6088

Shanghai@executivecentre.com

Jing’an District

Apollo Flagship Center

Regus One Corporate Avenue

Apollo Building

15/F One Corporate Avenue

1440 Yan’an Road (M)

222 Hubin Road

Jing’an

Luwan District

Shanghai

Regus Jin Mao Tower

Tel: 021-6133-1888

31/F Jin Mao Tower

Apollo Tomson Center

88 Shiji Avenue

22/F, Tomson Commercial Building

Lujiazui, Pudong

710 Dongfang Road

BEIJING (12 LOCATIONS)

Regus One Prime

Pudong

Regus China World Tower 3

25 F, One Prime

Shanghai

15/F China World Tower 3,

No. 360, Wu Jin Road,

Tel: 021-6165-2288

1 Jianguomenwai Avenue

Hongkou District,

Apollo Xuhui Center

Chaoyang District

SHENZHEN (5 LOCATIONS)

16/F, Feidiao International

CHENDU (3 LOCATIONS)

Regus Futian NEO

Building

Regus Yanlord Landmark

44/F, NEO Tower A

1065 Zhaojiabang Road

36/F, Yanlord Landmark Office

6011 Shennan Avenue

Xuhui

Tower

Futian District

Shanghai

No.1, Section 2, Renmin South

Regus New World Centre (NEW)

Tel: 021-5158-1688

Road

23/F, New World Center,

Apollo Hongqiao Center

Jinjiang District

No. 6009, Yitian Road,

26/F, New Town Center Building

CHONGQING

Futian District

83 Loushanguan Road

Regus Yangtze River

SUZHOU

Changning

International Plaza

Regus Suzhou JinHope plaza

Shanghai

33/F Yangtze River International

(COMING SOON)

Tel: 021-3133-2688

Plaza

11/F, Tower2, Jin Hope Plaza

22 Nanbin Road

88 Hua Chi Street, SIP

Nanan District

TIANJIN (2 LOCATIONS)

featured in these pages,

DALIAN

Regus Tianjin Centre

please contact our

Regus Dalian World Trade

8/F Tianjin Centre

Center

No.219 Nanjing Road

representatives at

12/F, 25 Tongxing Street

Heping District

QC Integra www.qcintegra.com Hongkong Office Jervois Street, Sheung Wang, HK Tel: +852 3008 5805 Shanghai Office HuaYuan World Square, North Zhongshan Road, Putuo District, Shanghai, China Tel: +86 21 6071 0550/0551 info@qcintegra.com

Serviced Offices

Vantone Commercial Center www.VantoneCommercialCenter. com Level 26 & 27, Tower D, Vantone Center, No 6 Chaowai Ave Chaoyang, Beijing

To have your company

+86 21 5385 9061

April 2013

81

APRIL 2013 VOL. 24, NO. 4 | www.chinaeconomicreview.com

2013年4月刊

Looking for a green future 寻找绿色能源

Illustrator：Twoqee

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