Young’s China Business Blog Daily Newsletter: October 19 ?????????????:10?19?

YOUNG’S CHINA BUSINESS BLOG ?????????

DAILY NEWSLETTER

October 19, 2012

China’s Speeds Up Solar Lifeline ????????????

A new Chinese media report shows that after more than a year of talk, Beijing is finally turning its aggressive talk on solar energy into action by more than doubling its approval of new solar power plants this year. The main question now is: Will any of its struggling solar panel makers survive long enough to enjoy the expected boom in business when some of these new plants start to get built. Of course industry watchers will know the answer is probably “yes”, as Beijing and local governments get set to hand out generous rescue packages to support these companies through a massive supply glut that has sent prices plunging and left everyone reporting big losses.

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US Security Takes Wind Out of Sany ????????????????

The national security excuse has become the flavor of the day in Washington, with a wind farm funded by an affiliate of heavy machinery giant Sany (Shanghai: 600031) making headlines as the latest US-based Chinese project to be vetoed on grounds it could compromise US security. Meantime, the bigger news story involving a Congressional report that says telecoms equipment from Huawei and ZTE (HKEx: 763; Shenzhen: 000063) poses a risk to US security continues to bubble into the headlines, this time with the White House denying that its own investigation into that matter appeared to exonerate Huawei.

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Xiaomi Explores Internet TV ???????

Homegrown smartphone sensation Xiaomi is looking more and more like a Chinese version of global tech giant Apple (Nasdaq: AAPL) these days, following the latest reports that the company is preparing to launch an Internet TV product. I’m sure that Xiaomi’s marketing-savvy founder Lei Jun loves the comparisons his company is getting to the world’s biggest tech company, which of course would include the inevitable comparisons to Apple co-founder Steve Jobs. Perhaps Lei will even change his company’s English name to “Little Rice”, which is what Xiaomi means in Chinese, to play on Apple’s own food-related associations.

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News Digest: October 19 ??? 2012?10?19??Haier, Fisher & Paykel, Huawei, Toyota, 360Buy, ??? ????? ??? ??? ????