介绍:
Let's check out some of the key events on the corporate front in China this week.
Doug Young joins me on the line, associate professor at Fudan University and former China company news chief at Reuters.
So, what are your picks of the week?
Story 1
Half Of IBM (NYSE: IBM) Workers Quit At Shenzhen Plant, 20 Fired (this is about the workers at the IBM plant who went on strike because the plant will be acquired by Lenovo and they didn't want to work for Lenovo)
More than 1,000 workers went on strike last week to protest over the terms of their potential transfer to Lenovo, which said in January it would buy one of the server businesses of IBM for $2.3 billion.
In a statement posted on its website late on Monday, Lenovo said the strike was an internal matter for IBM but it also pledged to maintain the salaries and benefits of all workers that chose to stay with the company after the deal is completed.
The striking workers also had expressed concern about their severance package if they decided to leave after the deal, which is awaiting regulatory and government approval.
Questions for Topic 1:
1. Do you think the demands made by the striking workers are legit or are they being unreasonable?
2. Is the strike going to have any effect on the deal reached between IBM and Lenovo?
Story 2
Alibaba, Tencent (HKEx: 700) On List Of First 5 Private Bank Licensees (we have covered this, not with a call-in though)
Questions for Topic 2:
1. The government did not give a timetable as to when will the private banks will be allowed to set up. How soon do you think it'll happen?
2. Both the Tencent and Alibaba are already offering online finance products like Yu'e bao, and they both started offering online credit card this week. If they set up private banks, is it going to shake up the banking sector?
Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
