China Plans to Help Bullion Producers Expand Overseas, Central Bank Says

August 23rd, 2010

By Bloomberg News – Tue Aug 03 10:44:20 GMT 2010

China, the world’s largest gold producer, will support overseas investment plans by “large- scale” bullion companies by backing them financially, the People’s Bank of China said.

Banks should extend credit lines to gold producers and offer loans for overseas acquisitions, the central bank said today in a statement on its website. The government will “support” the companies when they issue corporate bonds and help reduce financing costs, it said, without clarifying what that meant.

This is the first time the Chinese government has singled out bullion producers for financial support in overseas purchases. Global gold mining takeovers this year set a record after Kinross Gold Corp. yesterday agreed to buy Red Back Mining Inc. for about $7.1 billion.

China “will place heavy emphasis on supporting large-scale gold producers in their development and overseas expansion plans,” the central bank said in the statement.

The Chinese central and provincial governments either fully or partially own stakes in China National Gold Corp., Zhongjin Gold Co., Zijin Mining Group Co. and Zhaojin Mining Industry Co. The Chinese gold industry overtook South Africa to become the biggest producer in 2007.

Chinese bullion producers have completed fewer than five overseas acquisitions of rivals in the past 10 years, according to data compiled by Bloomberg.

Zijin’s Deal

Zijin Mining pulled a planned A$545 million ($498 million) purchase of Australia’s Indophil Resources NL this year after failing to win approval from the Chinese government. The deal would have given the company a stake in Philippines’ Tampakan project, Southeast Asia’s largest untapped copper and gold deposit.

Bullion surged to a record $1,266.50 an ounce in June and is set for a 10th straight annual advance, the longest winning streak since at least 1920.

Chinese companies spent more than $30 billion last year buying mining assets and oil deposits to help secure raw material supplies to feed the nation’s growing economy.

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Canada embraces massive Chinese tourist inflow as ADS takes effect

August 23rd, 2010

In the wake of China granting Canada Approved Destination Status (ADS), the first inaugural group of about 300 tourists from China arrived in Canada this August, where they were greeted in a high profile welcome ceremony by Stockwell Day, President of of the Treasury Board and Federal Minster of Asia-Pacific Gateway, and British Columbia’s Premier Gordon Campbell. This group of tourists and tour operators came mainly from Beijing, Shanghai and Guangdong Province.

One of the main purposes for coming to Canada, according to the responses from a significant number of tourists, is to have a first hand look at the local environment and obtain school information in preparation for immigration in the future.

The opening of Canada as an Approved Destination by China is expected to bring significant benefits to the country’s economy.  The Conference Board of Canada expects Chinese tourists to increase by 50% by 2015. In 2009, Chinese tourists injected CAD $260 million into the Canadian economy. In 2009, an average Chinese tourist spent $1,634 and stayed for 27.9 days while in the country.

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TranslationSells launches multilingual micro-site listing service

July 27th, 2010

Vancouver July 26, 2010 – Due to popular demand, Web Lite Translations Corp. has launched Mooizone.com, a pilot multilingual micro-site listing service to help businesses reach out to local and global communities speaking a different language.

The micro-site listing service is designed to contain summary pages with marketing messages professionally translated to multiple languages. The summary pages also contain URLs directing visitors who wish to find out more to the full website of the business.

Having a multilingual listing separate from a business’ main website has many advantages. Depending on the size of the business’ own website, having the entire site translated into multiple languages can be a costly undertaking. Having only one landing page in a different language co-located with the otherwise comprehensive website would make the host website look and feel inconsistent. Having the summary page listed somewhere else would solve the issue with consistency and allow a business a very low cost entry to many different language markets.

An added advantage of listing separately is that, thanks to the search engine optimized Mooizone website, a business listed there would most likely be ranked much higher by search engines in whichever language in which the business is listed.

For more information about this service, please visit the URL below or email  us at: sales@TranslationSells.com.

Website: http://www.mooizone.com

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Chinese firms accelerate purchasing of world mining assets

July 25th, 2010

As the consuming nation of one third of the world’s copper and 40% of its base metals, China’s ferocious appetite for natural resources has resulted in the country going on a buying binge of mines all over the world, and the trend seems to be accelerating. According to a recent Wall Street Journal article, companies based in China or Hong Kong participated in $13 billion of outbound mining acquisitions and investments in 2009, and it is expecting that amount to explode to $100 billion in 2014.

Among such buying frenzies, several noteworthy trends seem to be emerging:

Historically, Australia has been the destination of choice for Chinese mining investments. However, Canada is increasingly becoming a favorite destination, accounting for 25% of all inbound mining deals in 2009.

Another trend is that whereas the Chinese buyers in years past tended to be big, state-owned enterprises which favored outright takeovers, the new buyers vary from private manufacturers to Hong Kong investors to China’s sovereign wealth fund. These buyers tend to be savvier and more flexible.

A third noteworthy trend is that the new Chinese buyers are much more wiling to purchase companies with mines that are at earlier stages of development or exploration, compared to their predecessors who were more conservative and would not buy anything that was not already producing.

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Translation Sells launched

March 1st, 2010

VANCOUVER March  1, 2010 — In order to provide a complete turnkey solution to its clients, Web Lite Translation Corp. has launched Translation Sells, the service branch of its business. Translation Sells takes advantage of the innovative technology solution from Web Lite Traslation Corp. and combine it with the output of qualified translators.

Whereas the hosted translation platform on its own has been designed for the do-it-yourself website owners who are willing to integrate the technology into their website infrastructure and identify translators on their own, Translation Sells offers a one-stop-shop solution to those business owners who want to focus on growing their business, and let someone do the complete job for them.

Thanks to the same innovative technology platform, Translation Sells offers the same cost and quality advantages to its users.

For more information about Web Lite Translation Corp., please visit www.translate.weblite.ca.

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