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

FOCUS:COMMERCIAL REAL ESTATE

Looking for a green future寻找绿色能源

徒步穿越中国医改突破口

电动汽车再发力

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Executive Editor 主编 Liu Chen Deputy Executive Editor 副主编 Philip Liu Editor-at-large 出版人 Graham Earnshaw Editors 编辑 Deng Dan, Xie Bin

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

FOCUS:COMMERCIAL REAL ESTATE

Looking for a green future寻找绿色能源

徒步穿越中国医改突破口

电动汽车再发力

Illustrator：

Twoqee

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

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

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

极。“天道之数，至则反，盛则衰。”（《管子·重令》）万事万物皆

本此理，主其事者能不警醒乎？

This 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.

COMMERCIAL REAL ESTATE 商业地产

APRIL 2013 VOL. 25, NO. 4

Reaching capacity

Commercial real estate surges on a residential cool off

FOCUS

极速膨胀

如火如荼的商业地产

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

观点 新国五条将对二手住宅市场产生重大影响

April 201304

目录 CONTENT

封面故事寻找绿色能源

32

新观察

08 别无选择

10聚焦

专栏

14德国模式启示录

18社会市场经济

20医改突破口

市场

26问道西部商业

31大慈寺项目

20

48

Report

09 China’s antitrust hangover

16 Cutting through the red tape

22 When pigs float

66 These are the droids you’re

looking for

68 Watchful eye

Month in Review

12 Newsbriefs

Cover Story

38 For a limited time only

42 Belly up

46 Batteries not included

8

18

April 2013 05

目录 CONTENTS

66

68

封面故事

33新能源崛起

44电动汽车再发力

48环保产业迎来黄金期

焦点芬兰

50午夜阳光之国

焦点芬兰：人物访谈

60冷酷的竞争

看中国

70面子

话题

72“房奴”欧阳修

生活·晏子西游记

74云雾谷

Spotlight Finland

54 Finland – Nordic exporter of

clean tech and ICT

62 The competitive cold front

Interview

64 The future of private equity

Looking at China

71 The Female Triad

Travel Journal

75 Flowers and mist

22

40

Cover StoryLooking for a green future38WillChinaturnfromwindandsolarenergybacktonuclear?

April 201306

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

政府干预和自由放任思想的两位奠

定 者 凯 恩 斯 和 哈 耶 克 分 别 通 过

《通论》和《通往奴役之路》两部巨著，

隔着一道巨大的深渊，凝视着彼此。这道

深渊，拉开了我们这个时代最轰轰烈烈的

经济学之战：政府是否应当干预市场。

两人同时从第一次世界大战的废墟之

上研究商业繁荣和萧条的周期，却得出了

截然不同的结论。哈耶克认为，改变经济

的“自然平衡”会导致严重的通货膨胀。

凯恩斯认为，标志着一个周期结束的大规

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。

二十多年中，两人通过信件辩论，通

过公开发表的文章辩论，通过激烈的私下

对话辩论，最终又通过他们热心的弟子加

尔布雷思和米尔顿·弗里德曼代为辩论。

凯恩斯口才和魅力过人，对世界持有

一种乐观的愿景：政府计划和管控能撑起

经济。这一观点很快为大西洋两岸整整一

代政治家和经济学家所接受。与此相反，

哈耶克是个一丝不苟的逻辑家，他顽强地

逆流而上，在市场倡导者和自由意志者中

找到了支持。

20世纪30年代的大部分时间里，他

们都在争论未来的经济走向。分歧之处包

括政府本身的角色、政府干预经济对个体

自由的威胁等。这场辩论逐渐升级，甚至

蒙上了宗教世仇的气息。1929年股市崩盘

引发经济大萧条后，就如何帮助糟糕的世

界经济恢复健康一事，两人给出了南辕北

辙的意见。

第二次世界大战期间，尽管凯恩斯和

哈耶克曾经共同对抗法西斯敌人，却始终

不能达成共识。到了最后，他们对彼此的

分歧已经能够做到泰然处之，可即便两人

故去多年，他们各自狂热的信徒仍然继续

论战。

从富兰克林·罗斯福到乔治·布什等

数代政治家，在两位学者的想法之间摇摆

不定。最终，这场争辩影响了数百万人的

生命和生计。

2008年9月，华尔街出现了另一轮崩

溃，新一场世界金融危机爆发。美国总统

乔治·布什表面上支持哈耶克自由市场神

圣不可侵犯的观点，实际上却要面临一个

严峻的抉择：要么静观其变，哪怕市场要

经历一场可跟80多年前相匹敌的大萧条，

也坐视不理、袖手旁观，等它自个儿消停

下来；要么，迅速采纳凯恩斯的补救措

施，用政府借来的几万亿美元拯救岌岌可

危的经济，以免造成更大的损害。一想到

纵容自由市场不断恶化会带来怎样触目惊

心的前景，乔治·布什来不及多做考虑，

就放弃了哈耶克，投入了凯恩斯的怀抱。

新上任的美国总统奥巴马督导了新一轮的

大规模举债，把借来的钱注入经济。但刺

激资金还没完全花出去，茶党运动就发起

了暴力抗议，反对前所未有的公共债务水

平，要求政府改弦更张。2008年10月，茶

党支持者萨拉·帕尔斥责财政部长亨利·

保尔森：“听好了，美国人民不喜欢政府

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

鸿沟。究竟是自由市场好还是政府干预好

April 201308

What record antitrust fines slapped on Chinese liquor producers mean for companies operating in ChinaBy Adrian Emch, partner at international law firm Hogan Lovells in Beijing

China’s antitrust hangover

The 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 impos-

ing stiff sanctions on two leading Chi-

nese 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 mil-

lion (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 signifi-

cant 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 Devel-

opment 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 agree-

ments with its distributors to set mini-

mum resale prices for its liquor prod-

ucts 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 market-

place and harmed the interests of con-

sumers, 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 dis-

tributors by curtailing its business deal-

ings with them and reducing the level

of financial incentives such as rebates

given to “non-compliant” distribu-

tors. For instance, in 2011, Wuliangye

stopped supplying to a large super-

market chain store in Sichuan, forc-

ing 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 ter-

ritory. Although the press release in the

Wuliangye case mentions the company’s

“strong market position” and “impor-

tant 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 competi-

tion and the impact of minimum pric-

ing 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 fur-

ther guidance. In the meantime, com-

panies may wish to “play safe” and take

a hard look at their distribution agree-

ments and the context of their distribu-

tion structure.

OP-ED

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

表示，通过股份合作、家庭农场、专业合

作等多种形式发展现代农业是大方向，会

对新型城镇化形成有力支撑。据悉，上海

松江、湖北武汉、吉林延边、浙江宁波和

安徽郎溪等地也在培育家庭农场。

美国禁部分政府部门购中国IT美国国会禁止国家航空航天局（NASA）、

司法部和商务部购买中国IT系统，新规将

对中国电脑制造商造成沉重打击。中国可

能会指美国违反WTO规则，予以回击。美

国国会去年5月报告显示，美国进口的中

国“高科技产品”达1290亿美元。

国内主流媒体质疑苹果公司中央电视台在“3·15晚会”及随后报道

中，质疑苹果售后服务实行“中外双重标

准”，国内一百多家主流平面媒体对此进

行转载和报道。《人民日报》连续刊文指

苹果售后服务违反中国法律规定，并质疑

苹果大面积“避税”。

房产新政引发离婚潮据中央电视台《经济半小时》报道，二手

房个税按差额20%征收政策出台后，不少

地方出现“离婚潮”。3月6日这天，北京

离婚数高达一千例，比平时多出一倍。上

海闵行区民政局在婚姻登记中心门口特意

设立“楼市有风险，离婚需谨慎”大幅公

告警示牌，提醒人们不要为规避政策而假

离婚。

死猪事件与砷含量超标今年3月上海黄浦江松江段水域大量漂浮死

猪，已确定主要来自浙江嘉兴。而死猪所

带来的重金属污染特别是砷污染，尤其引

人关注。据农业部办公厅通报的去年饲料

质量安全监测结果显示，共有14家企业生

产的猪用料砷含量超标，其中江浙沪地区

的饲料企业就有5家。

鄂尔多斯工业园一片荒芜国内媒体近日在内蒙古鄂尔多斯市调查发

现，该市多个工业园区入驻企业稀少，呈

现“空城”迹象，而且物价比北京还贵。

鄂尔多斯2010年人均GDP近13万元，超

过香港。但一年后，有关该市楼市泡沫破

灭的负面报道就层出不穷。

企业与市场互联网投资回报持续下降清科集团创始人倪正东透露，过去三年

V C / P E 投 资 互 联 网 企 业 共 计 1 5 0 亿 美

元，2010年为20亿美元，2011年为60亿

美元，去年为56亿美元。获得融资最多的

是电子商务企业，但互联网总体投资回报

在持续下降。

无锡尚德破产重整无锡尚德被法院裁定实施破产重整，接盘

者有可能是无锡市政府下属的无锡国联集

团。截至2月底，包括工行、农行、中行等

在内的9家债权银行对无锡尚德的本外币授

信余额折合人民币已达到71亿元。无锡尚

德是在纽交所上市的尚德电力公司旗下规

模最大的生产基地，也是全球四大光伏企

业之一。

IPO依旧低迷3月境内IPO尚未开闸，境外市场仅有香

港独撑。根据清科数据库统计，3月份只

有2家中国内地企业实现IPO，合计融资

仅为1.96亿美元。上市个数只有去年同

期的1/15，融资额仅为去年同期融资额的

5.29%。

大众在华召回38万辆汽车长达3年之久的“大众DSG事件”终因中

央电视台“3·15晚会”曝光有了结果，

大众汽车集团宣布主动召回在中国部分搭

载七速双离合变速箱（DSG）车辆，涉及

约38万辆汽车。

高端白酒市场下滑去 年 下 半 年 起 ， “ 塑 化 剂 ” “ 三 公 瘦

身”“禁酒令”等事件和政策频出，高端

白酒市场明显下滑。北京、成都等地的53

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

April 201310

度飞天茅台价格，从1月每瓶1300元跌至

1200元，2月跌至1000元，3月底更跌破

800元/瓶。贵州茅台年报显示，2012年实

现净利润133亿元，同比增长近52%%。

江苏黄埔再生资源利用有限公司董事长

陈光标称，高端白酒的价格是实际成本的

10倍。

京东电商大战一天亏两亿京东商城创始人刘强东称去年“8.15电商

大战”时一天亏损超两亿。他还表示京东

物流项目“亚洲一号”建成后，京东才会

考虑IPO。他预计京东今年大家电销售额

将超100亿。

李宁巨亏转战童装市场李宁集团去年亏损近20亿元，盈利同比下

降6倍。去年体育服装品牌总体净利润下

滑，出现高库存、大幅关店等问题。李宁

集团加大对童装市场的投入，李宁童装近

期首次独立亮相。

调查与分析今年GDP或增8.3%

渣打银行近期报告称，今年是全球

经济渐入佳境的过渡之年。美国经济第一

季度仍显疲弱，但在下半年将强劲反弹，

美联储将维持宽松的货币政策继续支持增

长，每月购债规模达到850亿美元，下半

年经济增长可达3%。欧洲近期数据超乎预

期，下半年复苏开始逐步显现，但近期塞

浦路斯问题对欧元区银行业可能是一大考

验。

今年亚洲经济将在中国等的带动下持

续复苏，持续增长动力来自于内需以及城

镇化的推进。虽然近期中国多项经济数据

转弱，但只是短暂现象。渣打预计中国今

年GDP增速将达到8.3%，CPI则为4%。

中国将推行稳健从紧的货币政策，预计第

四季度将升息25个基点，明年第一季度再

升息50个基点。

带薪假期低于国际平均水平酒店预订专家Hotels.com最新调查

统计全球30个国家及地区的最低带薪年假

及国定假日天数。2013年，俄罗斯以40天

的带薪年假及国定假日总和高居调查榜首

位，墨西哥则名列最后，仅有13天假期。

调查数据进一步显示，本次参与调查的30

个国家及地区的平均法定假期总数为28

天。

中国内地目前最低带薪年假及国定假

日天数总和为16天，低于国际平均水平。

但由于其中的国定假日均与相邻的周末紧

接，变相延长了假期时间，鼓励国民出游

热情，推动国内黄金周旅游在高基数上持

续较高增长。

美国企业仍首选中国上海美国商会《2012-2013中国商

业报告》指出，在华美国企业经营业绩依

然表现强劲，并将中国列为全球首要投资

目的地。但是，美国企业在盈利水平、营

收额以及营运利润率等主营业绩指标方

面，已经连续第二年出现下滑。

美国企业正在进行业务调整，以适

应转型中的中国市场，基本已将业务从以

往驱动在华美国企业战略的低成本出口模

式转移开来。91%的受访企业表示对未来

五年在华业务前景持“乐观”或“稍有乐

观”的态度，这一比例创下了历年调查的

纪录，而这一指数在过去几年的问卷调查

中也从未有过回落。

在今年的调查中，超过三分之二的

受访企业表示，监管环境“没有改善”或

是“在恶化”，这一趋势在过去三年里一

贯如此。

超过五分之一的企业将中国列为其

全球首要投资目的地，54%的企业将中国

列为全球前三大投资地。近一半的企业表

明，在今年的全球运营投资计划中，将向

中国额外追加投资额。不到15%的企业表

明，为应对中国成本攀升，已经或计划将

生产转移到中国以外的地区。而13%的企

业表示，已经或计划将生产转移到中国国

内成本较低的地区。

网上零售增速可能减缓多种迹象表明，政府今年将出台政策

从多个层面加强加深对行业的干预。清科

研究中心认为，政府对行业的干预，无论

是扶持还是监管规范，都将增加行业健康

发展的风险。这是清科研究中心分析师徐

志鹏在近期的研究报告中提出的。

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

扭曲行业供需结构。在政府扶持政策下，

行业市场供给会出现超常规的增长速度，

为以后行业萧条埋下伏笔。如果推出大量

监管规范性政策，先不论所监管领域是否

需要监管。仅增加监管规范本身就会增加

监管成本，而这只会增加行业内企业税

赋，给企业增加负担。

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。

上半年房价或难下降诺 亚 财 富 管 理 中 心 《 房 地 产 行 业

2013年2月报》指出，今年2月二线城市

交易量及房价表现优异，一二线房价的整

体快速飙升构成本次房地产调控的客观背

景。随着新政细则的颁布，考虑政策对预

期的干涉、政策实施效果的滞后性及上半

年房产商资金流的相对宽裕，诺亚财富管

理中心研究员潘媛认为，今年上半年房价

下降的可能性不大。

（本栏目内容根据公开信息整理）

April 2013 11

MONTH IN RE VIE W

NEWSBRIEFSLego sets up factory in ChinaLego 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 edu-

cational toys from Asian parents. China’s toy market was

worth US$8.89 billion last year, up 18% on 2011.

Chinese solar company goes bankruptChinese 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 insol-

vent, although parent Suntech Power will not declare bank-

ruptcy. 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 allow-

ing the US-listed parent to survive has sparked worries that

Chinese creditors may unfairly take precedence over foreign

lenders.

China floats hukou system reformsChina 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 intro-

duce 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.

Chinese e-commerce giant Alibaba names new CEOAlibaba Group Holding announced that one of the its exec-

utive 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.

Report: Wealthy Chinese move more money off-shoreA 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 bil-

lion 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.

Yuan hits 19-year highChina’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 appreci-

ated 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 con-

sumption 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 201312

China reaffirms commitment to AfricaChina’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 ques-

tion 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 scareChina 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

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

专栏

新一代领导人提出要

实现“中国梦”，

要走中国道路。中国道路

就是要探索未来中国经济

社会发展的成功模式。我

的理解，必须要充分借鉴

世界上成功国家的先进经

验。而德国模式无疑是实

现“中国梦”，探索走中

国道路的非常重要的借鉴

模式。为什么要借鉴德国模式？德国模式

在哪些方面特别值得关注？我总结了五个

方面。

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

相对比较均匀，个人所得税在税收体制中

占27%，比美国低了很多，而从流转过

程中征税比较多，如增值税占到税收体制

36%。因为流转税相对容易征收，流转税

与经济周期的相关度相对比较低，而个人

所得税的税基是个人收入，与就业相关，

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

不要从上至下按项目分配。当然，新总理

已宣布要减少一定的项目性转移支付。

劳资团结合作德国体制有意义之处，就是政府大力

扶持实体经济，实体经济稳健发展是德国

成功的重要支柱。

首先是建立稳定有序的劳动力市场。

在劳动力市场上，工会的作用主要是与企

业进行集体谈判，而不是单纯追求工会自

身利益。在实体经济发展方面，职工有序

参与企业决策。比如2万员工以上的企业必

须要有20人的监事会，监事会成员里职工

必须占有10个席位，其中3位必须是工会

会员。通过这种监事会机制，就将职工和

企业高层管理人员的决策有机结合，职工

以企业为家，参与企业的管理。

双轨制教育体制也非常有利于实体经

济发展。小学毕业开始分流，一部分学生

进入职业教育轨道，当然这个体制可能需

要进一步认真研究，也许分流太早，一部

分可以从事学术研究的人才过早地进入职

业教育轨道。

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

理，尤其要避免恶性劳资冲突事件，建立

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

保险，而德国是对用工提供保险。2009年

以来德国很多企业的经营出现短期下滑，

企业就让工人从一星期工作5天减到3天，

只付3天工资，失去的2天工资的60%由政

府提供。一旦经济转好，工作时间就从3天

回到4天、5天，这样就减少了劳动力市场

过多的摩擦。

第三条是注重职业教育。中国职业教

育的前景十分广阔，但目前还没有得到充

分发展。

补贴租房市场德国房地产市场是出了名的稳健。从

1975年到2011年，德国房价去除通货膨

胀后实际下降了22%。德国经济在上升，

房价长期以来却是下降的，房租比也是下

大众旗下奥迪生产线：德国大众也是家族控制的百年老店

April 201314

李稻葵

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

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，

德国是对低收入家庭买房提出更苛刻的要

求。

德国总体而言是鼓励租房、抑制买房

和打击投机，非常有特色。对中国有什么

启示？第一是鼓励租房，政策在租房这一

侧缺位，一定要增加新建住房供给，尤其

是租赁房的供给，并提供一定补贴。第二

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。

从严监管金融审慎的金融体系也是德国模式的重要

方面。德国金融监管部门对金融机构的监

管非常严格。德国金融机构的投资资金回

报率在欧洲是比较低的，欧洲一百家最大

银行的平均回报率是9.9%，而德国的平均

回报率是4%左右。

2001年德国政府取消了对储蓄银行

的政府担保，很大程度上减少了银行的高

风险行为，同时对商业银行呆账拨备的要

求非常高。德国商业银行体系下的负资产

和不良资产率逐年下降，金融危机爆发后

反而下降，这是一个奇迹，根源在于严格

的监管。

还有是消极的马克国际化政策。德国

政府在这个问题上极其冷静，他们仔细研

究了自己的情况，发现金融体系远远比不

上美国、英国那么发达，同时也发现总体

经济规模与美国相差很远。如果完全放开

管制，让资金流入流出，资金会流入德国

商业银行，抬高马克汇率，对德国制造业

和实体经济十分不利。分析利弊后，德国

政府采取的措施是消极应对马克国际化的

呼声。这点特别值得我们研究和借鉴。

对中国的启示有两点。第一是审慎的

金融监管具有全局意义，不仅能够让金融

业比较稳定，同时可以避免金融业出现过

高的回报率，从而让人才逐步流入到实体

经济和企业，而不是完全往金融领域里流

动。第二是人民币国际化。一定要保持冷

静的头脑，不能被国际化，包括华尔街很

多精英人士捧杀。一定要考虑中国实体经

济和企业的承受能力。国际化步伐太快，

一定会增加人民币升值的压力。

呵护家族企业最后是基业常青。德国的经济实力之

所以如此强大，重要原因之一是拥有一大

批基业常青的家族企业。德国家族企业往

往是家族控制，由职业经理人管理，家族

并不介入日常管理。如汉高公司，世界上

数一数二的化学公司，由家族控制，不上

市。博世做汽车零配件，是宝马、奔驰、

大众背后的英雄，也不上市，也是百年老

店。宝马公司背后是一个大家族在控制，

前台由职业经理人管理。这个机制非常重

要。

德国有好几百所私立学校，很多都建

在森林里，采取严格的教育方式，学生连

手机都不许使用。德国大家族注重教育，

将孩子送去接受严格教育，与我们很多企

业家的教育不太一样。

德国遗产税很高，最高达70%，但遗

产税对于家族企业的传承网开一面。如果

一位企业家创办了一家企业，他要把这家

企业传给自己的孩子，如果孩子承诺10 年

之内继续经营或者经营10年以上，他的遗

产税几乎是不用交的。遗产税对于家族企

业传承和基业常青起到了正面作用。这点

非常值得我们关注。

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

们往往向往美国企业，第一代创业，第二

代不愿意干，就将企业交给社会。教育是

家族企业传承的关键，要教育孩子以企业

为家。遗产税是正在兴起的话题，不管中

国要不要征收遗产税，还是怎么设计遗产

税，一定要考虑到家族企业的传承问题。

（根据作者在“德国模式：启示与借鉴”

论坛上的演讲整理）

德国的住房政策是抑制投机鼓励租房

April 2013 15

In streamlining its ministries, is China merely rearranging the deck chairs?

Cutting through the red tape

It’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 litera-

ture devoted to chronicling the under-

handed 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 Bei-

jing with sweeping reforms to stream-

line the central government. The plan

is the biggest reduction in ministries

since 1998, when Zhu Rongji over-

hauled 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 unpopu-

lar Railway Ministry and the Family

Planning Commission. The Railways

Ministry, which has been dogged by

mounting debts and allegations of cor-

ruption, will surrender its regulatory

responsibilities to the Transport Min-

istry and commercial operations to a

new state-owned enterprise, the China

Railway Corporation. The family plan-

ning 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

now rapidly aging society and decreas-

ing population. The changes pave the

way for the end of the one-child policy,

or at least the less rigorous enforce-

ment of those antiquated rules. The

Ministry of Railways was also a holdo-

ver of an antiquated system: China’s

other ministries were required to spin

off commercial operations into state-

owned enterprises long ago.

The plan also merges the regula-

tors for broadcasting and print media,

elevates the food and drug administra-

tion to ministerial level, pulls together

fisheries and maritime enforcement

agencies and restructures the National

Energy Administration. These chang-

es are also beneficial, in that they will

increase accountability, eliminate inef-

ficiencies and prevent further bureau-

cratic turf wars. For example, the

streamlining of the many administra-

tive bodies with leeway to act inde-

pendently in the East and South China

seas will reduce the risk of an unneces-

sary escalation in the case of a run-in

between fishermen or patrol boats of

rival nations.

Reshuffling deck chairs The State Council’s reforms are wise

and necessary, but they may not go

far enough. Proponents of reform dis-

cussed the possibility of more dramatic

changes to the bureaucracy in the run-

up to the congress, but these failed to

materialize.

For example, the restructuring

lacked any mention of China’s sprawl-

ing 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 insti-

tution, 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 power-

ful entities it would wrest power from,

including the Ministry of Finance, the

China Securities Regulatory Commis-

sion, 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

REPORT

April 201316

and Reform Commission. Formed in

2003 out of the State Planning Com-

mission, 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 econo-

mists 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 reduc-

ing the scope of the NDRC, especially

in terms of the lengthy bureaucratic

approval process of projects, “will pro-

vide more autonomy to local govern-

ments 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 Eco-

nomics, 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 Coun-

cil 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 coun-

try as a monolithic, top-down institu-

tion, with Beijing having the absolute

authority. That is not the case. Instead,

China’s top leaders are extraordinarily

gifted politicians who use their politi-

cal 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

德国 模 式 很 值 得 研

究 ， 也 许 还 有 一

些值得其他国家借鉴的地

方。2009年后，只有少数

欧盟国家仍然保持了经济增

长，德国就是其中增长最好

的国家。很多指标显示德国

真的很不错、很成功，如外

贸有声有色，经常账户盈

余，公共财政体系稳定，

失业率在下降（很多发达国家的失业率在

上升），股票市场比较繁荣，而且很多人

认为德国是安全的投资目的地。德国这么

好，到底是什么原因？

我认为，德国的经济体系也许并不能

称作是一种范本，但确实是很有意思的体

系，也许可以为中国新一届领导人实现经

济下一步发展提供新的思路。所谓社会市

场经济，就是充分享受自由市场经济带来

的好处，包括竞争的活力、自由的竞争；

但与此同时，仍然要加以一定的限制。限

制是为了什么？是为了造福整个社会，造

福社会中的每一位公民，尤其是那些处于

弱势地位的人群。

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

济中，德国制造业所占比重在发达国家是

最高的，其他国家只有中国的制造业占比

在GDP中是比较高的。这非常重要，因

为有了制造业才能够带动创新，带动直接

投资，并且能够带来高附加值和高薪的工

作。

扎实的制造业同时也可以带动服务业

的发展。过去10年，德国是唯一积极推动

制造业增长的大国。德国有意识地增加制

造业在经济体中的占比，而其他发达国家

开始出现去制造业和去工业化的现象。

我要特别强调的是，德国的教育体系

是世界上最好的，其中的职业教育带来了

世界上质量最高的生产力和劳动力。每个

学生必须经过3年的学徒训练，也就是在工

厂或服务业进行3年的学徒计划，这样可以

帮助年轻人在完成学业后迅速就业。德国

双轨制的教育体系始于1880年，当然需要

花很长时间才能建立起这个体系。我认为

这是德国成功的重要关键之一。

德国的产业政策希望能够扶植企业。

比如在德国西南有130年历史的重要汽车

生产基地，还在巴伐利亚地区建立起不同

的产业聚集区，如汽车工业基地拥有汽车

工程设计和制造企业，还有各种零部件的

供应商。德国各州都希望建立起自己的聚

集优势，地方政府起到了很好的推波助澜

的作用。西门子这样的企业也在合作的范

围内，可以获得政府支持，包括贸易融资

等。

商务部长或总理带团到中国访问时，

都会组成商贸代表团，里面一定有三分之

二是来自于中小企业的代表。德国政府认

为，要塑造德国未来的商界，必须关注中

小企业。

中德两国的确存在差异，但也发现了

一些共通之处。过去5年，中国政府强调社

会和谐，强调对于科技创新的重视，强调

对于教育、基础设施建设和各种产业附加

价值的重视。中德两国都更加重视产业政

策，我认为，两国对产业政策的看重和提

升是非常恰当的。很多德国企业比中国企

业更国际化，原因是他们出口的历史比较

悠久，可能在上个世纪初就已经开始出口

了，而中国企业可能只有过去二三十年出

口的经验。但是再过二三十年，我们将会

看到中国拥有更多的跨国企业，跨国企业

的数量甚至有可能超过德国和欧洲。（根

据作者在“德国模式：启示与借鉴”论坛

上的演讲整理）

专栏

社会市场经济体系能够极大地降低社会动荡的风险

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

April 201318

罗兰·贝格

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

目前医疗资源仍然紧

张，尤其是优质医

疗资源稀缺且往往集中在一

线大城市的三级医院。从某

种角度看，“看病难”缘于

医院少，医院少缘于医生

少，医生少则缘于医生待遇

低、福利少。所以我认为，

推进医疗改革的一个重要抓

手就是提高医生待遇、鼓励

年轻人从医。

医生待遇究竟是高还是低？近4年的数

据显示，美国、加拿大、日本等国医生平

均收入是中国同行的40倍左右，香港的医

生平均收入是内地的22倍，台湾地区是大

陆的14倍，即使是与印度、巴基斯坦等发

展中国家相比，我们仍然是远远落后的。

面对这样的情况，我们不得不反思，

医生低工资会给患者和整个行业乃至社会

带来什么？那就是：医生工作热情和效率

降低；个别医生依赖“灰色收入”，医患

矛盾加大；医生后备力量薄弱；资源分配

陷入恶性循环，使城乡差距不断拉大。

医疗改革确实重要，牵一发而动全

身，但提高医生待遇就是动一发而益全身，

成本最低、效果最快。从古到今，世上任何

地方的医生都是以技术服务来获取报酬，

我们现在要做的就是尊重事物的客观规

律—即高度尊重救死扶伤的这一伟大职

业，尊重他们的技术本领（而不再让他们

依赖卖药、卖器械和收红包来赚钱）。所

以我建议：

要加大医疗投入，在投入中确定用于

改善医生福利待遇的比重和逐年递增的比

例。医生应该根据劳动强度、教育背景和

职业责任来确认工资，平均收入建议达到

社会平均收入水平的1.5倍到3.5倍（专家

研究认为：世界上，医务人员平均的收入

水平大概是社会平均工资的1.5倍到3倍之

间。如果建议医务人员的工资提高到平均

线的1.5-3倍，那么此收入最起码可以达

到国家第二高的收入水平，甚至超越金融

业，成为收入最高行业）。这是中国医疗

改革花小钱省大钱的突破口，只有让医生

切实受益，医疗改革才改变基础。

要加速中小城镇和农村地区的医疗

基础设施和队伍建设。加大对中小城镇和

农村医院的财政支持，创造合格的医疗条

件；还可以在保障医生福利待遇的前提下

输送优秀的医生从三级医院去到二级、一

级医院，从城市医院到县乡医院。我们必

须清楚得认识到：只有小医院和卫生所的

信誉重塑了，才会有“大病重病进城看，

小毛小病就近看”的医疗资源的合理分

配。假设有一天，农村的老百姓说“我老

家看病不比你们城里差”，有了这“健康

卫士”的底线保障，他们一定会留在故乡

安安心心谋生活，全心全意谋发展，为城

镇化的建设推进保驾护航。

要充分培养和发挥新生力量，为鼓励

年轻人学医从医创造良好条件。有不错的

收入和充分的业务锻炼机会，相信年轻人

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

者在今年全国政协的提案）医生职业理应受到全社会的高度尊重

April 201320

陈天桥

REPORT

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

When pigs float

The image of thousands of

dead, waterlogged swines has

sullied an otherwise white-

washed 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 water-

way. They’re falling flaccidly from con-

veyor belts into the backs of industrial

trash bins. Masked workers are drag-

ging 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 down-

stream 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 Sustaina-

lytics 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 por-

cine virus – didn’t end up on dinner

tables in Shanghai. In years passed the

meat floating in the river this week

could have reached restaurants and

homes. Selling dead or diseased pigs

into the market has become so com-

monplace in China that the govern-

ment recently heightened enforcement

on the sales of such potentially hazard-

ous pork, Sun said.

It’s not just the enforcement of pork

safety that is changing. The entire food

safety apparatus is undergoing a tre-

mendous transition after 10 years of

food and drug related scandals have

deeply eroded public trust and stirred

an international wariness for the Chi-

nese products.

The annual National People’s Con-

gress 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 coun-

try’s food safety, but the empowered

SFDA will have its work cut out for it in

an environment that has become alarm-

ingly noxious in the span of a decade.

Dark ages for food safetyChina has earned a dismal food safety

record over the past decade, a period

defined by unbridled growth with lit-

tle 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 con-

sciousness. 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

April 201322

REPORT

shaped the regulatory environment

for the following five years. In 2007, just

months after contaminated toothpaste

from China ended up on North Ameri-

can 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 consolidat-

ed power with the SFDA. The min-

istry 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 hospi-

tal, 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

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 succeed-

ing. 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. How-

ever, there is no single solution to solv-

ing 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 regula-

tion, 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 demonstrat-

ed – 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 responsi-

bility when food scandals break.

April 201324

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

眼前这位中年人，睿智，干练，气宇

非凡，谈笑风生。他就是成都乾豪

置业有限公司董事总经理陈雷先生。

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

块，着手打造大慈寺文化商业综合体项

目—占地面积约120亩，总建筑面积约

39万平方米，除国际甲级办公楼睿东中心

（Pinnacle One）外，还包含时尚购物街

区、都会风尚酒店以及服务式公寓。

作为这个投资额近百亿元商业综合体

项目的总负责人，陈雷透露，该项目计划

于今年年底试营业，明年第二季度正式开

业。据悉，这是两家品牌开发商继北京颐

堤港（INDIGO）项目之后，联袂打造的

第二处综合发展物业。

远洋、太古携手成都乾豪置业是太古地产和远洋地产为成

都项目成立的合营公司。远洋地产背景深

厚，太古地产出身名门，双方合作可谓强

强联手。

远洋地产曾是央企中远集团旗下的全

资子公司，2007年在香港联合交易所主板

上市，为内地在港上市房地产公司十强。

业务范围涉及中高端住宅、高级写字楼、

零售物业、酒店式公寓开发、房地产销售

及相关业务。

远洋地产在商业地产领域已有15年成

熟开发经验，北京长安街的“远洋大厦”、

“凯晨世贸中心”以及北京CBD的“远洋

光华国际”、“远洋国际中心”等均是其

代表作。未来，远洋地产将继续加快商业

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。

市场

睿东中心效果图

April 201326

物业的开发进度，提高商业项目在整体业

务的比重。

“商业地产堪称房地产领域最顶级的

产品，市场环境变幻莫测，更需要发展商

具备雄厚实力、丰富经验和前瞻眼光。”

陈雷指出，“在这个领域，企业之间的强

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

发经验，并且对国内所有流程、规范、法

规等都非常熟悉。而太古地产在香港成功

发展了很多综合项目，具备深厚独到的综

合商业运营经验，并与大量国际商业品牌

保持长期良好合作，这使得其在拓展新区

域时，能更有效快速地整合商业资源。北

京颐堤港是远洋地产和太古地产合作的第

一个项目，有了颐堤港的成功基础，成都

大慈寺项目必将成为双方再次携手合作的

佳作。”

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

商业、零售、酒店及住宅物业，发展策略

为在城市主要运输交汇点上盖发展综合物

业项目。太古地产立足香港，业务遍及中

国内地、美国以及英国，其香港的投资物

业组合以太古广场、港岛东为核心物业。

在中国内地，太古地产已履步北京、上

海、广州和成都四大核心城市发展了五处

大型综合项目。

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

于2012年9月正式开业。“远洋地产与

太古地产在这个项目上的合作是基于两家

企业在商业地产领域的发展战略，因为强

强联手必然是战略上的谋合。当然，对双

方而言都是一种机缘。”同时作为颐堤港

（INDIGO）董事总经理的陈雷表示。

成都集聚全西南地区的消费能量近年，北上广深商业地产发展到顶

峰，中西部地区二三线城市渐受青睐。就

拿成都来说，大型商业地产项目蜂拥而

至，这座西部地区二线城市有这样大的市

场需求么？很多人对成都的消费能力有所

疑虑和担心。

对此，陈雷表示：“成都不仅是四川

的中心城市，也是西南地区的核心城市。

我们不能仅看当地的消费能力，而要把成

都放到西南地区的大背景来考察，成都积

聚和吸纳着整个西南地区的消费能量。”

在实施这个项目之前，远洋地产和太

古地产已对成都的区位优势作过深入而全

面的研究。

成都不仅是四川省的首府和中心，

而且是西南地区的科技中心、商贸中心、

金融中心和通信枢纽。成都被描述为继北

京、上海、广州之后的“第四城”，是国

家级区域经济圈的中心城市和休闲之都、

人居天府。成都现代服务业发展迅速，消

费需求旺盛，城市对外吸引力、辐射力和

城市综合服务功能日益增强。

作为2013年《财富》全球论坛的举

办地，被喻为中国未来新经济中心的成都

正在迎来最关键的发展飞跃期。

对蓉城赞赏有加、情有独钟的陈雷

分析道：“成都奢侈品的单店销售额丝毫

不逊色于北京、上海，二线城市出现了与

经济中心城市同等的奢侈品消费能力，消

费潜力可想而知。此外，成都还是西南地

区生活消费的聚集地，相对欠发达的周边

城市，成都更易吸聚各方面资源。所有这

些优势造就了这座城市商业人文上的繁华

旖旎，吸引了包括九龙仓、铁狮门、新鸿

基、香港置地、韩国乐天等在内的国际品

牌发展商纷至沓来。”

两大商业巨擘合作的如此大手笔商

业项目，会对这座二线城市产生怎样的影

响？陈雷分析道：“成都的商业地产市场

发展很快，综合体不断涌现，我们通过对

市场的划分和梳理，将大慈寺综合体定位

为高端精品项目。我们项目的进入对成都

市场造成很大冲击，但高端定位也与当地

目前以中低端商业项目为主的市场形成互

补。我们希望这个项目在西南乃至在全国

都是顶级的商业地产。”成都是一个休

闲、平和又具有历史积淀的城市，巴蜀

文化、市民文化和外来文化在这里碰撞

交织，让这个城市变得越来越有趣。在这

种环境下，陈雷认为：“对于商业物业来

说，市场占位非常重要，你必须要明确你

走哪一种文化路线。我们希望通过大慈寺

成都合江亭

April 2013 27

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。”

“户外、开放、低密度—消费者可以在我们项目逗留一整天”

“地段，地段，还是地段”，这是香

港首富李嘉诚最经典的房产投资理念。地

产项目地段非常关键，为何选择在大慈寺

片区建设大型项目？

陈雷表示：“这块地拆迁多年，没

有轻易出让，政府有意识地想打造这个地

块，将其塑造为高端商业街区，一直在等

待合适的时机与最合适的商家。”

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

著名的文化旅游景点。这里积淀着历史，

是难以复制的地段，古建筑、寺庙都保存

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。”

项目的时尚购物街区建筑是低密度、

开放式街区布局，27栋商业建筑最高不

超过大慈寺大雄宝殿高度。陈雷谈到：

“人们天天工作生活在高楼里，难免感到

压抑，而我们的商业街区视野开阔，人们

来到这里后，压抑的情绪能得到释放，心

情得到放松。而且成都一年四季的气候良

好，适宜户外活动，购物中心可以与户外

很好地互动。考虑到成都特定的气候、历

史、建筑形态和商业布局，在有限的娱乐

时间里，消费者就会选择像大慈寺项目这

样有特色的地方，度过悠闲的一天。”

购物街区里的建筑自成一体，但又

通过空中走廊连接一起。商业街将通过地

下、地上与两条核心地铁线路相连，与春

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

大慈寺项目定位更高端，我们的目标受众

可以分为三类，第一类是成都本地的享受

型富裕阶层；第二类是西南地区的高端群

体；第三类是游客群体，并非传统意义上

的民俗旅游客，而是来享受这个城市生

活、气候、美食并有一定消费能力的高端

人群。”

顶级商业地产往往与顶级奢侈品牌比

翼齐飞。大慈寺项目购物街预计会吸引几百

家品牌商户入驻。目前与项目签约的国际顶

级奢侈品牌已有爱马仕（Hermès）、卡

地亚（Cartier）、纪梵希（Givenchy）、

古驰（GUCCI）、Jimmy Choo等等。爱

马仕专卖店主要分布在北上广一线城市，

市场

北京颐堤港（INDIGO)

April 201328

成都地区目前仅有一家专卖店，未来该品

牌在大慈寺项目购物街所开设的店铺，会

成为其在西南地区的旗舰店。

“爱马仕的选择说明对这个项目的定

位是认同的。在战略发展上，商户同我们

想法一致，即通过这个项目完成在新区域

的品牌战略布局 。”陈雷说道。

绿色办公—城市中心的稀缺写字楼

睿东中心作为大慈寺综合体中的国际

甲级写字楼部分，也将于2014年落成。近

年成都写字楼市场正处于供应井喷期，睿

东中心能否脱围而出？

“从商业地产的业态来看，大型城市

综合体需要配置国际品质的甲级写字楼。

我们对于睿东中心的定位是最高端的国际

甲级写字楼。太古与远洋有超过20年的开

发、运营持有型写字楼的经验，两家的共

同优势比较明显。”陈雷指出，从城市布

局看，睿东中心位于成都中央商务区东大

街核心地段，是连接传统春熙商圈、新兴

大慈寺-红星路商圈的重要枢纽。随着春熙

商圈东扩，未来睿东中心将与周边其他国

际甲级写字楼一道成为城市的商务核心。

在产品硬件配置方面，睿东中心也

一应参照国际品质打造。陈雷特别介绍

道：“包括睿东中心在内的大慈寺文化商

业综合体一大亮点便是绿色环保。”可持

续发展是远洋地产和太古地产共同拥有的

重要价值观之一，能耗最小化这一理念始

终贯穿于项目设计中。睿东中心将与整个

大慈寺文化商业综合体项目一起，以美国

绿色建筑协会的能源与环境设计先锋评级

之社区建设（LEED-ND）和二星级中国

绿色建筑评价标识双认证为项目可持续发

展目标。

从环保理念出发，大慈寺项目还特别

注重建筑材料的循环利用，项目几十栋建

筑尽可能使用钢材，便是考虑钢材作为节

能材料可回收的特质。这些投入甚多却又

看不见的地方也是两家企业“创新绿色设

计理念”的体现。

此外，睿东中心与建筑配套的细部设

计也经过充分考虑和设置，如项目中新种

植的绿化街道，下沉花园入驻的咖啡厅、

餐厅等，有助于美化成都的街道景观和提

升项目的使用功能。北区的绿化广场将为

办公人群创造休憩的绿洲,从地铁站至广场

的路径也经过精心设置，将为成都街头增

添靓丽风景，而办公人群也将获得愉悦的

感受。

“我们去成都的时机恰当，成都的

产品正处在升级换代阶段，我们的项目达

综合体商业区效果图

April 2013 29

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

业项目，大慈寺综合体并未选择分期建设

的模式，陈雷解释道：“有些开发商采取

分期建设，一是考虑现金流，二是基于对

项目缺乏信心，抱持试水心态。而大慈寺

项目39万平方米的规模体量，将会一次性

推出，它的商业功能、定位、格局将会让

人眼前一亮，从而产生极佳的影响力和号

召力。”

陈雷表示：“项目计划于年底试营

业，给商家一段培育时间，开业后将由太

古负责运营管理，综合体中的精品酒店和

服务式公寓也是太古品牌，由太古统一管

理。”

国内商业地产正处于发展初期，多数

项目都在探索、总结教训和学习中前进，

相应的拥有丰富经验的优秀商业人才也十

分匮乏，而操盘过如大慈寺综合体这类规

模、品质项目的人才并且有全程项目经验

者更是欠缺。陈雷谈到：“大慈寺项目在

人力资源方面具有得天独厚的优势，这也

源于股东双方的互补。在商业地产管理上

太古占绝对优势，他们通过常年运营拥有

许多商业储备人才；而远洋地产则有大量

地产开发方面的人才。地产开发是内地企

业的长项，商户管理、物业运营则是香港

企业的长处。双方将通过合作达到互补和

共赢。

“从目前招商情况来看，形势喜人，

我对该项目的未来充满信心。”陈雷豪情

满怀地表示，“由远洋地产及太古地产合

力打造的高端精品项目—大慈寺文化商

业综合体，必将为成都贡献令世人瞩目的

城市文化商业新地标。”

市场

睿东中心效果图

April 201330

Following 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 Com-

plex. The complex, located in the heart of Chengdu and the popular

Chunxi Road shopping area in Jinjiang District, will be conveniently ac-

cessible from the interchange station of Metro Lines 2 and 3. The com-

plex 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 100-

room urban intriguing hotel managed by Swire Hotels, serviced apart-

ments 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 de-

sign 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 environ-

ment 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 consul-

tant will provide quality property management services to the Pinnacle

One.

Daci Temple Cultural and Commercial Complex

大慈寺文化商业综合体效果图

大慈寺文化商业综合体

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。

April 2013 31

P33 新能源崛起

P44 电动汽车再发力

P48 环保产业迎来黄金期

寻找绿色能源

封面故事

April 201332

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

连续数天笼罩在有毒雾霾空气里的

可怕现象，其中又以北京、上海等发达城

市为甚。很多大城市居民在出门上班时，

不得不戴上了口罩。

据官方发布的国家环境分析报告显

示，中国最大的500个城市中，只有不到

1%达到世界卫生组织推荐的空气质量标

准；世界上污染最严重的10个城市有7个

在中国。报告还指出，空气污染每年给中

国造成的经济损失，基于疾病成本估算相

当于国内生产总值的1.2%，基于支付意愿

估算则高达3.8%。

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

为廉价可靠的燃料来源，煤炭所产生的能

源占全国能源总需求70%，约80%的发电

依靠煤炭，而煤炭恰恰是对空气污染最严

重的能源。

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

界上最大的温室气体排放国，25%的农村

地区受到酸雨影响，2/3的大城市达不到世

界卫生组织的最低空气污染标准。世界银

行估算，环境污染给中国造成的直接经济

损失约占中国国内生产总值的10%。

发展以风电、水电、太阳能、生物质

能等为代表的清洁能源和可再生能源可以

减少能源产业对环境构成的强大威胁。中

国近年来开始大力发展清洁能源、可再生

能源和各种清洁技术，也制定了各种鼓励

发展的政策。2005年制定的《可再生能源

法》，要求到2020年将可再生能源消耗对

原生能源消耗的比例从10%提高到16%；

2020年相比2005年要削减40%-45%单

位GDP的碳能源强度。2009年修订《可

再生能源法》，对可再生能源如风电、太

阳能、生物质能和清洁能源给予了税收优

惠和财政补贴。

“中国在这几年形成了对清洁能源发

展比较好的政策环境。”国家发展和改革

委员会能源研究所所长韩文科表示，“中

国对清洁能源的发展制定了一个雄心勃勃

的目标。中国认识到，要促进经济发展就

必须要发展清洁能源，改变能源结构。一

方面得益于较好的政策环境，另一方面也

得益于改革开放：中国从世界各国吸收先

进的技术和企业管理经验，促进国内经济

发展。”

随着节能等理念的推广以及政策的引

导，新能源在中国本土的需求将会逐渐扩

大，庞大的市场潜力和政策对清洁技术的

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。

据韩文科观察，中国在清洁能源、

可再生能源，尤其是风能、太阳能这些领

域，这些年也在大力鼓励民营投资，而且

民营投资力量很强大，民营企业也很多。

合作与竞争电力耗用一次能源占全球消费总量的

40%以上，排放的温室气体占世界排放的

40%以上，意味着电力已经成为能源变革

中最有潜力的领域。

中国国电集团是一家综合性电力集

团，主要是从事电力生产，在全国拥有

数百家发电企业，还控股经营了几家上

市公司。国电集团公司副总经理米树华表

示：“新能源应该引领未来能源的变革。

因为我们也感受到了，新能源是解决金融

危机以及气候危机的一个战略性支点。我

们集团最近这几年围绕新能源产业加大了

开发力度，特别是风机制造技术，还有火

力发电场、等离子点火技术以及太阳能制

造技术，做了大量有益的工作。”

法国阿海珐是一家能源公司，主要

业务包括地热发电和海上发电。“新能源

运动的方兴未艾给我们带来了极大的好

April 2013 33

处。”阿海珐可再生能源事务部全球首席

执行官斯里瓦斯塔瓦（Anil Srivastava）

说道，“过去几年，我们先是看到从欧洲

向外的技术转让，中国的国电公司也充分

地受益于这样的技术转让，实现了跳跃式

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。”

他补充道：“风电是很好的例子，还

有太阳能光伏发电，也是中国跳跃式发展

的领域，带来了很多机会。中国不应该是

这种技术的终点，我们也可以和中国建立

技术合作的伙伴关系。”

有了相对优惠的政策，企业也发展很

好，各方都没有感受到威胁，但是评论人

士还是认为在中国和美国之间，在中国和

欧洲之间存在着竞争，而且也嗅到了一些

紧张的气氛。

国际气候组织大中华区总裁吴昌华

说道：“竞争确实存在，这是好事。除了

美国、中国、欧洲之外还有其他国家和地

区，比如阿拉伯世界、印度，除了中美欧

三强之外，其他参与方也有很重要的作

用，不是说这样一个规模就已经定下来

了。大家可以携手画一个更大的饼，每个

人可以分到更大的，这样更好。”

全球500强企业都在中国有投资，可

能很少有企业会说自己是外企，因为已和

当地企业融合在一起。“当然保护主义确

实存在，这也是我们需要克服的最大困难

和最大障碍。” 吴昌华说道。

技术与人才在美国、中国和欧盟之间的这场赛

跑，出台政策都比较快，但如果比技术，

中国确实处于不利的位置。虽然中国生产

了很多风电以及太阳能设备，但是核心技

术都不在中国手里。在技术上中国对于欧

盟和美国有较强的依赖性。

“核心技术往往都是价格比较昂贵，

非常复杂的技术。与其进行你死我活的竞

争，还不如一起各施所长，共同实现今后

10年清洁能源的目标。”吴昌华表示。

现有的核心技术和前瞻性技术75%

都是西方的。吴昌华觉得，中国在技术上

的增速还是令人可喜的。当然，除了资金

的投入外，中国还必须打造健康的生态体

系来鼓励价值链，鼓励人才进行更好的研

发。“中国外汇储备非常大，为了能够实

现长远发展，必须在研发方面花力气。我

非常看好中国前景，但是目前技术研发的

基数比较低。”吴昌华说道。

在清洁能源和可再生能源发展方面，

中国政府决心很大，政策推进的速度也很

快。但是，无论是制造技术还是投融资的

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

力，包括大型国有企业，但要赶上美国和

欧洲，恐怕要花20到30年时间。“中国

还是发展中国家，发展是有一个过程的，

比如教育系统造就不出这么多清洁能源的

技术人才。教育系统的改革和培养人才是

缓慢的，中国出台了人才培养的政府计

划，目前还是很缺乏技术人员。中国发展

可再生能源和清洁能源，核心技术都在外

国手里。但是中国希望这些都进来，最先

进的核电技术和清洁能源技术都可以拿到

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

策。”他说道。

清洁能源领域的知识产权保护也是重

要问题。里瓦斯塔瓦谈道：“中国必须在

知识产权方面占有一席之地。”

韩文科指出：“中国对清洁能源知识

产权的保护是非常在意的。在中美能源交

流对话中，美国人也经常提到这个，但是

封面故事

工作人员正在巡查光伏电站设备

April 201334

做了一番讨论后，他们就感觉到这个问题

可能不存在了。因为中国一直在保护知识

产权。中国这么大，各种法律法规的落实

确实有一个过程。就像节能环保一样，如

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。”

“在清洁能源领域的知识产权，基本

上各大公司，我认为他们都不得不承认，

中国是在保护他们的知识产权。”他说

道。

碳市场运作推进清洁能源计划在很大程度需要碳

金融的支持。碳排放交易是很有用刺激融资

的工具，金融机构能够参与到可持续的绿

色经济发展当中。欧洲以前比较领先，现

在美国也在迎头赶上。是否还要再等一段

时间才能看到全球统一的碳市场的出现？

“碳交易市场目前最主要的一些政

策还悬而未决，这就带来了很多不确定

性。”益可国际环境金融有限公司首席

执行官保罗·凯利（Paul Kelly）认为，

“碳排放市场的交易机制正在逐渐形成，

美国、日本、澳大利亚、新西兰、韩国，

某种程度上还有中国，已经在碳交易方面

有了一些想法，出了一些政策。碳金融市

场确实开始崭露头角，但是还需要花更多

时间才能逐渐成熟。” 该公司正在从事碳

排放交易。

他憧憬道：“如果某天早上醒来，发

现已经有了明确的政策框架，在全球范围

内有一个统一的碳交易市场，那么我想一

定会感觉超棒。但是毫无疑问，我们还是

需要等待更多的资金进入这个市场，目前

还有很多的不确定性。”

在企业的投资决定中是不是考虑了全

球碳排放价格和中国当地的碳排放价格？

有没有考虑当地法律法规的影响？

“关于碳排放价格问题，我们在企业

经营管理过程严格遵循政府制定的政策，

也就是严格认真地考虑碳排放问题。”米

树华表示，中国政府在哥本哈根会议之

后，做了减排的承诺，国电集团围绕政府

提出的减排目标，确定以新能源引领企业

发展的战略。“我们的重点是突出火力发

电厂的清洁燃煤的技术，建设节能环保的

绿色电站。再一个就是着力加大水力发

电，还有就是紧紧围绕新能源产业，如太

阳能、风能以及核电的开发利用，提高清

洁能源的利用比例。我们的绿色发展目标

是到2020年清洁能源比重要达到40%。”

米树华说道。

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

企业要贷款和项目审查都有一些规定，如

果不符合绿色发展的国家政策，贷款就要

受到限制。相反，如果发展清洁能源和清

洁排放技术等，更容易得到贷款。当然这

不是严格意义上的碳金融，但中国在这方

面已经有所体现。

美国、欧洲都在呼吁碳金融交易，中

国也在跟进研究碳金融市场，很多机构都

在研究。韩文科说道：“中国建立了一些

交易所，目的就是要进行碳交易。中国也

会很快在这些方面跟进，这个市场肯定会

有，而且一旦发展起来肯定在世界上是很

大的市场。”

世界资源研究所和中国商务部国际贸

易经济合作研究院去年联合撰写的一份报

告称，中国在风能和太阳能行业的对外直

接投资不断增长是多种因素综合作用的结

果：市场力量—需求方寻找价格更低的供

应方；东道国的优惠政策，以及中国政府

的支持政策。

该报告还指出，作为全球市场的后

正在排放污染物的火电站

April 2013 35

起之秀，中国需要学习很多东西。中国投

资者面临的挑战来自各个方面：政治、经

济、法律、商业和文化。在国际上，中国

缺少经验，缺乏对国际低碳市场运作方式

的了解。在国内，很难从中国的银行获得

贷款用于海外投资，尤其对中小型企业而

言。中介服务存在明显的能力缺口，包括

金融机构和行业协会。

海上风电起飞国家能源局副局长刘琦近期表示，风

电已经成为中国仅次于火电、水电的第三

大电力，目前还没有任何一种电力能取代

风电的地位。

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。

上海、江苏、山东、河北、浙江、广

东海上风电规划已经完成。辽宁大连、福

建、广西、海南等省的海上风电规划正在

完善和制定，初步确定了4300万千瓦的

海上风能资源开发潜力，目前已有38个项

目，1650万千瓦项目在开展前期工作。

根据《可再生能源发展“十二五”规

划》，2015年累计并网风电装机达到1亿

千瓦，年发电量超过1900亿千瓦时，其中

海上风电装机达到500万千瓦，基本形成

完整的、具有国际竞争力的风电装备制造

产业。到2020年，累计并网风电装机达到

2亿千瓦，年发电量超过3900亿千瓦时，

其中海上风电装机达到3000万千瓦，风电

成为电力系统的重要电源。

除了技术和施工瓶颈，海上风电要想

发展还有两个关键性要素：一是海上风电

开发管理体系的成熟；另一个则是电价政

策的引导。如此巨额投资以及高风险，技

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

源主管部门的态度也发生了转变。国家能

源局新能源司最近表示，长期会考虑推出

海上风电标杆电价政策，鼓励企业积极投

资。开发商只要具备条件可以向国家能源

局提出申请，能源局原则上会把前期工作

先安排下去。

主要沿海省份都有海上风电项目，或

者正在开展前期工作，如果均能在“十二

五”期间开工，500万千瓦的目标并不难

实现。而这一目标只是释放中国发展海上

风电的信号，更重要的是，通过500万千

瓦项目的实践，海上风电开发管理体系得

以逐步建立，为今后的发展打好基础。

对于2015年海上风电装机达到500万

千瓦的目标，中国水电水利规划设计总院

副总工程师易跃春认为，不必为目标能否

完成担忧。“除了特许权项目外，还有其

他项目和示范项目蓄势待发，只要政策逐

步明朗，前期工作逐步到位，就具备了加

快推进的潜力。”他表示。

页岩气革命今年1月初召开的全国能源工作会议

提出，今年要大力开发页岩气、煤层气等

非常规油气资源，大力发展新能源和可再

生能源，积极发展水电，协调发展风电，

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 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。海上风电产业迎来新的转机

封面故事

April 201336

据安迅思息旺观察，中国页岩气的

勘探开发仍然处于初级阶段，除了加强与

有页岩气开采经验的国外能源企业合作学

习先进的开采技术外，还需要依靠放开的

竞争环境。而无论是何国企、私企还是外

企，在产业发展没有成熟之前，都面临着

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。

安迅思息旺近期发布的《中国页岩气

市场调研报告》显示，中国陆域页岩气地

质资源潜力为134.42万亿立方米，可采资

源潜力为25.08万亿立方米（不含青藏地

区）。现有区块属于中石油、中石化、中

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

出，参与页岩气探矿权招标是其他企业获

得上游资源的唯一方式，而页岩气的探矿

权招标将会逐渐向外资和民营企业放开。

“独立石油公司已经开辟出新的天

地，国家石油公司也制定出全球策略，另

外授权机构和政府部门也在寻求笼络勘探

资金。”策略师克拉克如此描述亚洲油气

行业在页岩气领域的举动。

前景是美好的一些分析人士指出，对页岩气的开发

利用应保持理性，切勿一哄而起，以避免

重蹈光伏产业的覆辙。而作为全球最大的

光伏产品加工与制造国家，近一年来，光

伏产业的情况确实有点不妙。

无锡尚德太阳能电力有限公司日前宣

布进入破产重整。在欧美国家反倾销、反

补贴贸易政策的的打压下，由于海外市场

萎缩，光伏行业整体发展陷入困局。

今年3月全国人大会议期间，国家发

改委官员对记者承认，近期光伏、风电设

备等新兴的产业确实出现了产能过剩。

中国光伏产业联盟的数据显示，全球

太阳能光伏总产能大于实际需求量1.5至2

倍。2011年统计的中国光伏企业数为262

家，2012年已经跌落到112家。但当年建

成的光伏组件产能达是2009年的7倍。

“一些领域的本土市场尚待挖掘，

现阶段主要依靠海外市场。以光伏产业为

例，海外市场的贸易摩擦，使得行业企业

发展面临被动的形势。”清科研究中心分

析师肖珺表示，“光伏企业在出口海外市

场的同时，应该不断扩大内需市场，后者

才是该产业应该着力解决的问题。”

从长远来看，包括风能和太阳能在内

的清洁能源的前景是美好的。“从绿色发

展，应对气候变化来看，中国的可再生能

源还谈不上过剩，比例还很小，总量也很

少，现在仍然处于发展过程中。”韩文科

说道。

April 2013 37

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

Looking for a green future

COVER STORY

April 201338

When Chinese

t e c h n o c r a t s

were drafting

t h e g r a n d i -

ose economic

blueprint that would carry the coun-

try through 2015, they had no idea

what would happen just days after

its release. In March 2011 – the same

month China launched its 12th Five-

Year Plan, which proposed a huge

expansion in nuclear power – an earth-

quake 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 Fuku-

shima 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 surround-

ing nuclear power: Beijing halted

approvals on new nuclear projects

and ordered a reassessment of existing

plants.

The sudden stall in the develop-

ment of nuclear plants has been a

boon for China’s wind and solar ener-

gy sector. Wind power output surged

past nuclear last year, and govern-

ment 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 Chi-

nese market as the government grad-

ually 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, allow-

ing China to revamp its program.

New clear daysThe 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 con-

struction of reactors across the coun-

try, putting China on track to become

the world’s largest nuclear power gen-

erator. 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 Xia-

men University’s Center for Energy

Economics Research, said of the effects

of the Fukushima incident. “As long as

the overall environment doesn’t dete-

riorate, 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 dramati-

cally 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

top international standard of nucle-

ar 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 sunThe 12th Five-Year Plan also pointed to

solar and wind power as sectors for high

growth through 2015. But the unfore-

seen decline in nuclear energy develop-

ment after the Japan disaster helped

put further emphasis on other forms of

alternative energy, namely wind.

“If there was no incident [at Fuku-

shima], 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 real-

ly gave the opportunity to the wind

power.”

The opportunity has translated into

huge growth for the wind power sec-

tor, especially massive wind farms in

China’s northwest. In 2006, wind tur-

bines produced less than five terawatt

hours of electricity a year in China,

while nuclear produced about 60 tera-

watt hours, according to data from

Washington DC-based think tank

Earth Policy Institute. By 2012, wind

and nuclear were producing 100 tera-

watt hours apiece, and wind energy has

since surpassed atomic power.

Solar energy capacity is also ram-

ping 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

COVER STORY

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 Chi-

nese government is looking at these

renewable energies and will continue

to encourage them at sensible prices.”

HeadwindsChina’s renewable energy goals are

reachable, but analysts said the mar-

ket 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, espe-

cially 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 mar-

ket share. Such practices have made

the sector largely unsustainable, and

experts said the industry must elimi-

nate superfluous manufacturing before

it can be revived.

The quality of China’s solar and

wind products is also highly question-

able. 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

April 201340

the government shifts its focus back

toward nuclear power.

Although China plans to continue

expanding its wind and solar capac-

ity far into the future, some insiders

have said that nuclear power could

be back on the agenda with introduc-

tion of the next five-year plan in 2016.

Hu Yu, chairman of China Guang-

dong Nuclear Power Holding, said

last week that although China’s goals

for nuclear power have stalled dur-

ing 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 state-

owned nuclear power sector may put

China’s atomic ambitions back on

track. Before long, government atten-

tion could revert back to nuclear

power and wind and solar could lose

some of the government support. Pro-

ponents of wind and solar should push

to straighten out those markets before

this window of opportunity closes.

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-basedartistTwoqee lovesmanga,moviesandmon-sters.He isa full-timedesigneranduseshisspare timetodrawcartoonsandotherillustrations.Hisworkhasbeenin-cluded inmanydifferentcomicanthologiessuchas"Party,"whichcontainshiscomic"Mr.Yi."Formoreofhiswork,seehttp://edge.neocha.com/agency/

April 2013 41

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

Belly up

The demise of Suntech, a Chi-

nese solar company, will be a

familiar story for American

readers who followed the bankruptcy

of US-based Solyndra: the rare top-

pling of a government-backed high-

tech 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 ear-

lier 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

US$0.59 at market close on Wednes-

day, down from an all-time high of

$88.35 in 2007.

There are many reasons for Sun-

tech’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 gov-

ernments engineered an exponential

increase in China’s capacity to make

solar panels. Suntech’s solar mod-

ule capacity more than quadrupled

between 2007 and 2011 to 2,400 meg-

awatts, making it one of the world’s

largest solar product manufacturers.

The company used this massive

supply to deliberately push down pric-

es and capture market share, at the

expense of its own and others’ profit

margins. “Solar manufacturing over

the past eight years has been an excel-

lent 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 rough-

ly 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,

COVER STORY

April 201342

would not go into bankruptcy, spark-

ing 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 consid-

erable. The US$541 million in con-

vertible bonds due this month were

issued by Suntech’s listed unit, which

is registered in the Cayman Islands.

The bonds are mainly owned by US-

based specialty shops or distressed

funds, including Mount Kellett Capital

Management, Driehaus Capital Man-

agement, Pioneer Investment Manage-

ment and Silverback Asset Manage-

ment, 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 pres-

entation to investors last November

that “loans may be available to refi-

nance 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 com-

pany. But as the company continues

to flounder, these may ultimately be

worth little to nothing. US bondhold-

ers 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 inves-

tors 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 tech-

nology companies, such as Baidu and

Sina, that have listed in US markets

through a variable interest entity struc-

ture that have operated in a legal gray

area.

US-listed shares of other Chinese

companies will certainly suffer. A sig-

nificant share of Chinese companies

that have listed in New York have done

so through a shell company in the Cay-

man Islands or another offshore juris-

diction. Legally, there is little to pre-

vent a Chinese company from walking

away from its agreement with the US-

listed 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 sec-

tor: China’s ten largest solar compa-

nies 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 inves-

tors will suffer. But investors in the

US-listed arm of any heretofore gov-

ernment-backed champion could par-

ticularly stand to lose out.

April 2013 43

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

在3月中旬举行的全国两会期间，全

国政协副主席兼科技部部长万钢乘

坐着比亚迪E6电动车前去参加政协经济组

联组会议，以此来表明他对电动汽车的支

持。

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

布，去年共销售新能源汽车12791辆，其

中纯电动汽车11375辆。相比庞大的汽车

销量，有点微不足道。

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

是PM2.5的主要排放源。据中国科学院

“大气灰霾追因与控制”专项研究组发布

的监测结果，今年1月份京津冀共发生5次

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

问题的出现，电动汽车作为一种解决方案

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

日本的汽车厂商通用、本田、日产、丰田

等，都是较早进入中国电动汽车市场的公

司。

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

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。

然而，美国市场研究机构派克研究

（Pike Research）公司报告显示，到

2015年，中国电动汽车年销量预计仅有

45000台；而到2017年，预期销量也仅有

15.2万台，还不到轻型车市场的1%。

中国还没有形成西方那样注重环保的

文化激励措施，国内汽车买家一般不会关

心汽车的排放，而八成以上的消费者都是

第一次买车。

清洁能源汽车这一新颖的环保概念并

不能吸引中国消费者，因此像丰田普锐斯

和比亚迪E6这样的品牌也就失去了对中国

客户的吸引力。咨询公司IHS上海办事处

高级分析师周泉认为：“电动汽车在一二

线城市不会有太好的前景。”因为在这些

汽车保有量很高的大城市，有车族的消费

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

是影响购买的因素。比亚迪FD3M电动汽

车的零售价为16.98万元，而普通的桑塔

纳轿车售价在10万元-15万元之间。与之

相比，享受绿色生活似乎要付出更大的成

本。桑塔纳汽车每年的燃油成本约为1万

元，而全混合动力汽车能最多节省50%的

燃油费，综合比较后，还是标准的汽油型

汽车省钱。

其他问题也在考验着电动汽车的车

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

因素影响，实际行驶里程通常要小于标称

封面故事

大学生正在体验电动汽车新能源零排放的科技运用

April 201344

行驶里程；而受限于充电站数量，电动汽

车驾驶员只能在充电站的半径范围内驾驶。

“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

的目标也不大可能达成。”派克研究公司

分析师加特纳（John Gartner）说道。

一位业内人士把电动汽车和混合动力

汽车所遭遇的困境归结为三个相关因素：

政策和基础设施、消费者和汽车制造商，

核心技术电动汽车在目前市场上的尴尬局面是

显而易见的。国家863“节能与新能源汽

车”重大项目监理咨询专家组组长王秉刚

认为：“要充分了解新能源汽车渡过艰难

的导入期，仍然需要一段时间。”　

电动汽车推广的最主要难题之一是基

础设施建设，没有充足的充电设施，消费

者不会购买电动汽车。截至去年底，北京

电力公司已建设充电桩1080个，主要供

公交车和环卫车充电使用，覆盖面远远不

足。国务院发展规划要求到2015年左右，

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。

王秉刚指出，动力电池是电动汽车的

核心，希望组建“下一代动力电池国家研究

体系”，培植有竞争力的电池产业集群。

国内汽车制造商也闻风而动。近期，

比亚迪董事长兼总裁王传福曾公开表示，

今明两年将是新能源汽车发展的“拐点”，

希望在新能源汽车领域有所突破。据悉，

比亚迪在新能源领域形成的产业包括光

伏、电池、LED、储能电站和电动车等，

已制定了未来10到20年电动汽车的发展规

划。

但是，电动汽车的技术尚不成熟。现

阶段，中国在电动汽车高端技术方面总体

上还不具备竞争优势，电池、电机、电控

等关键零部件技术基础仍显薄弱。

直接购买国外的电动车企业是一个办

法。去年7月停产的美国菲斯科是为数不多

的豪华电动车制造商，该公司仅有的卡玛

插电式混合动力豪华跑车销量不振，目前

正在从中国和欧洲寻找买家，先后传出与

中国的万向集团和经销商广汇集团以及东

风汽车洽谈购买的消息。

替代燃料在替代性燃料中，甲醇汽油是不错的

选项。中国国家工信部去年3月28日发布

《2012年工业节能与综合利用工作要点》

称，将组织开展甲醇汽车试点，指导和推

进山西、上海、陕西编制试点实施方案。

甲醇汽油由甲醇与汽油以及添加剂混

合而成，作为车用燃料汽油替代品，具有

价格低廉、排放清洁的优点，并且可以降

低石油在能源结构中所占比例。根据甲醇

在成品油中所占比例，甲醇汽油可被标号

为M15（甲醇占15%）、M30、M85、

M100等。甲醇汽油研发试点在国内外已

经有一些案例，中国自上世纪80年代以

来，对于甲醇汽油的研究也有了30年左右

的经验。山西、陕西、浙江等省份在一些

地区尝试推广了M15甲醇汽油，M85以上

的高比例甲醇汽油在还没有大面积推广试

用的经验。工信部出台的工作要点中将进

行试点的就是适用M85、M100的高比例

甲醇汽车。

相对于电动车，甲醇汽车对汽车动力

系统的改造比较小，因此在特定阶段中，

甲醇汽车具有一定的规模商用潜力，并带

来高比例甲醇汽油市场的发展机会。

然而，高比例甲醇汽油和甲醇汽车的

发展，面临着众多的不确定因素。“从长

期发展机会来看，首先就是甲醇汽油的燃

烧性能及安全性。”清科研究中心分析师

肖珺表示，“对于甲醇汽油厂商而言，渠

道建设与突破是值得重点关注的课题。”

前景看好AutoTrader.comde的数据显示，从

去年到今年3月，全球消费者对替代性燃料

和高燃油效率车型的总体购买兴趣提高了

54%。

自2008年以来，美国、日本、欧盟

相继发布实施新的电动汽车发展战略，加

大了研发投入与政策扶持力度。日本以产

业竞争力为第一目标，电动汽车的研发和

产业化均走在世界前列；美国以能源安全

为首要任务，强调插电式电动汽车发展；

欧盟以 CO2 排放法规为主驱动力，重视

发展纯电驱动汽车，仅德国国家电动汽车

平台计划就投入近50亿欧元（约合400亿

人民币）。

与电动汽车相关的基础设施充电系统

产品行业也迎来快速建设和发展机遇。目

前，电动汽车充电设施市场竞争正日趋加

剧，通用电气、西门子、ABB、耐德、博

世等跨国公司已纷纷加大开发电动汽车充

电设施产品。据预测，到2015年，全球电

动汽车的充电点将达约470万个，全球电动

汽车充电设施的年销售额将达180亿美元。

美国能源部长朱棣文宣布到2015年

实现100万辆电动汽车的销量。而业内人

士对电动汽车在全球范围内的发展做出预

测：5年内，插电式混合电和纯电动车总销

量的全球将达到320万辆，复合年增长率

将达到106%；到2015年，中国将成为电

动汽车的最大市场。

业内人士普遍认为，从发展前景看，

电动汽车经济、环保，没有尾气排放，会越

来越受到人们的青睐。“从长远来看，中国

的发展规划会推动全球电动汽车市场的发

展。”派克研究公司分析师加特纳说道。

April 2013 45

The road for electric vehicles is a bumpy one. China should choose another route

Batteries not included

Anyone 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 indus-

try where competition has dried up.

Functional electric cars have exist-

ed 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 elec-

tric 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 bank-

rupt A123 last year, giving it the bat-

tery technology to make electric vehi-

cles. 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 report-

edly 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 runa-

way pollution, including cutting back

on vehicle emissions. In the weeks to

come, that will likely translate to a

concrete plan to further promote elec-

tric 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 indus-

try. “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 con-

sultancy 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 skepti-

cal 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 gen-

erates 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 lit-

tle pollution. The density of cars is far

COVER STORY

April 201346

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 driv-

ing 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, consum-

ers, in the end, may be better off leav-

ing electric vehicles to bus and taxi

fleets and waiting for more promis-

ing alternative energy cars to come.

Fuel cells, most commonly powered

by hydrogen, seem promising as the

cost comes down and existing gas sta-

tions could be fitted to refuel such cars,

Laprise said. That could happen quick-

ly if China switched from promoting

manufacturers to develop electric vehi-

cles to produce fuel cells instead, he

said.

Walking the middle pathFor now, promoting hybrid vehi-

cles that have gas engines and small

rechargeable batteries would be the

most practical way to entice consumers

into cutting emissions. Hybrid tech-

nology 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 Japa-

nese 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 gov-

ernment could put aside their pride

and use hybrids to start cutting emis-

sions 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 indica-

tion, hybrids likely could only sub-

sume 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 indus-

try stuck in neutral.

April 2013 47

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

家住北京的顾先生今年已经是第二次

购买家用空气净化器了，1月份为

自家客厅安置了一台，春节过后又为小孩

的卧室购置了一台。顾先生购买空气净化

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。

雾霾天气不限于首都一地，大面积的

雾霾天气在全国各大在中城市引发了空气

净化装置的火爆热销，某些品牌的家用空

气净化器出现了脱销。

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%。

整个1月份，PM2.5的搜索指数环比上涨

2344.3%，“PM2.5空气净化器”环比上

涨6402.6%，涨幅巨大。

据商务部月度监测数据显示，2010

至2012年前三季度，中国空气净化器零

售量逐年递增，同比增幅由11.4%增至

14.7%，未来市场年增幅直逼15%。从市

场发展潜力来看，目前中国空气净化器的

普及率不足1%，而有些发达国家空气净化

器家庭普及率已超过34%，市场发展潜力

巨大。

解决被称为“第三次污染”的空气净

化设备，正迎来新一轮商机。一些很早就涉

及净化行业的传统家电巨头如远大、美的、

格力等，正利用集团其他产品的优势加速

推广空气净化器产品；霍尼韦尔、松下、

夏普、3M等大型跨国公司也依托长期积累

的技术拓展市场；主营健康产品的安利也

在近期开始涉足生产空气净化器产品。

投资走热空气净化器受到市场热捧欢迎只是一

个风向标。事实上，由于污染问题日益严

重，环保行业开始重新受到资本青睐。

清科研究中心数据显示，去年清洁技

术行业共有131起投资事件，涉及总额达

60多亿元。其中环保产业的投资案例数61

起，投资总额30多亿元，占比超过全行业

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

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

防治环境污染、改善生态环境、保护自然

资源为目的而进行的技术产品开发、商业

流通、资源利用、信息服务和工程承包等

活动的总称。

吴晗瑄表示，仅按“十一五”期间

环保产业的年平均增长率为15%的保守估

算，2015年环保产业的总产值将超过50亿

元。

而国务院印发的“十二五”节能环保

产业发展规划，要求到2015年，中国技术

可行、经济合理的节能潜力超过4亿吨标准

煤，可带动上万亿元投资；节能服务总产

值可突破3000亿元；产业废物循环利用市

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。

节能减排受雾霾天气的影响，首先获利的是环

保设备板块，如脱硫脱硝、除尘装备，市

场空间会因此大幅扩容。去年，环保部联

空气净化器热销

封面故事

April 201348

合发改委完成了对全国重点地区火电厂脱

硫脱硝进展的摸底调查，明确了火电脱硝

电价补贴调整的现实紧迫性，脱硝电价补

贴有望提高到1分/度，将直接为火电厂增

收，获得相关订单的企业将率先受益。去

年五大发电集团也与环保部签订了减排责

任书，确定重点脱硝改造火电机组装机将

达到6800万千瓦。以全国火电机组2100

小时的利用时间计算，可带动脱硝装机投

资近15亿元。另外，污水处理和固废回收

及再利用应该也会随着近期水污染问题的

集中凸显，进入快速增长期。同时，重金

属治理和环境监测对民众及环境的影响也

较大，相信未来都是环保主题获利延伸的

主要方向。

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

市在内的重点控制区，对火电、钢铁、石

化、水泥、有色、化工等六大重污染行业

及燃煤工业锅炉的新建项目。

国家环保部新推出“最严”产业政

策，高消耗、高污染的工业行业将被重点

治理，意味着这些行业将备受挑战。火

电、钢铁行业会率先受到制约，立即开始

执行污染物特别排放限值；而石化行业、

燃煤工业锅炉项目尚有一点缓冲机会，待

修订完善的排放标准，并按照标准设定在

现有项目过渡期满后，再执行特别排放限

值。

其实，对火电行业的排放约束早已

开始。去年1月1日开始实施的《火电厂

大气污染物排放标准》，就对火电厂的污

染物排放限值进行了从严修订，大幅收紧

氮氧化物、二氧化硫和烟尘的排放限值。

但此次出台的二氧化硫特别排放限值在国

标限制值基础上又收紧了一半，对企业来

说，难度大大提高。需要对脱硫、脱硝、

脱汞等装置全面进行技术改造才有可能达

到。“企业运营也需要重新控制和规划运

营成本，在增加了空前治污成本的基础上

削减其余部分开支，才可能回归盈利，在

困境中成功突围。”吴晗瑄表示。

长期投资雾霾阴影挥之不去，地下水污染接踵

而来，环境问题不仅成为年度性、全国范

围内的话题，也受到二级市场上资金的关

注。

目前，工业化进程仍处于中后期阶

段，重工业、资本品工业（或生产资料工

业）比重显著上升，需要消耗很多资源，

产生大量污染，以换取人民生产、生活的

必需品。由传统工业转向新型工业转型需

要时间去完成，当工业化进程结束后，中

国转入发达经济阶段。届时，工业比重将

转入稳定或有所下降，有望转变从“末端

治理”向“前端综合防治”的现状。

目前存在的问题是，市场化程度较

低，对政策依赖度高，很多清洁技术细分

领域尚不能形成市场化的发展格局。清科

研究中心分析肖珺表示：“主要原因既包

括市场初期产品、服务成本高企，也包括

为产品、服务买单对象不明确等原因，因

此产业的发展高度依赖扶植政策，行业内

生力量尚显不足。”

“环保治理是长期性行为，需要贯

穿经济发展的整个过程。但目前的污染状

况不是一朝一夕可以改变，需要有足够长

的时间才能扭转过来。”吴晗瑄表示，

“相信未来会有越来越多的政策和制度有

利于环保产业的发展。可以说，目前环保

板块行业已进入黄金期，具备长期投资的

价值。虽然短期利好形势不断，但应作为

中长期成长性投资对待。

值得关注的领域包括工业除尘、工业

三废处理等工业环境治理领域等，LED领

域也有多起投资事件。

LED半导体照明相能耗仅为白炽灯

的1/10，节能灯的1/3，使用寿命可达5万

小时，发光效率和寿命远超白炽灯和荧光

灯，并且不含汞和铅，更为健康环保相比

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

增长释放出积极的信号。”肖珺说道。污水处理公司的水处理池

April 2013 49

午夜阳光之国芬兰希望从高速成长的中国经济中受益

全世界有福享受“午夜阳光”的人当

中，三分之二都居住在芬兰。在芬

兰拉普兰地区的极北地带，太阳会持续70

多天居于地平线之上。夏季白夜是芬兰全

国随处可见的景象。在白夜中如何度过这

些时光不用费心考虑，人们可以沐浴在无

穷无尽的阳光下，享受额外赐予的白天时

光。

芬兰在美国《新闻周刊》去年“全球

最好的国家”中名列第一，其评判标准涉

及健康、教育、生活质量、经济活力和政

治环境。此外2010年美国福布斯杂志将芬

兰、瑞典、挪威、丹麦与荷兰评为“全球

五大最幸福国家”。当然这样的排名并不

能真实反映北极圈地区的冬季生活：气温

零下25°C、厚厚的积雪、日照时间4小

时、人烟稀少。

过去10年，芬兰在世人眼中形成的

刻板印象总让我们将其与诺基亚（辉煌与

衰落）、F1车手吉米·莱科宁（辉煌与衰

落）和圣诞老人（永不落幕）联系起来。

但作为一个北欧小国，芬兰一直都是AAA

级的欧盟成员国。欧洲货币联盟也因该国

人民的坚韧不屈而闻名于世，也正是这种

不屈不挠地品质让这个北欧小国在二战的

滚滚硝烟中始终屹立不倒。

而今，当欧盟与欧元区国家都在危

机中苦苦挣扎时，芬兰的公共产业与金融

产业都基本没有受到影响，即使该国是唯

一的一个位于斯堪的纳维亚地区的欧元国

家，同时该国在经济上也高度依赖瑞典和

俄罗斯这两个非欧元国家。

据去年世界经合组织报道，因地方

银行在扩张期采取了谨慎的贷款策略，并

且很少购买高风险外国证券，芬兰金融体

系在全球金融危机的大背景下仍然表现良

好。2011年春天由金融监管局组织的一

次压力测试显示，芬兰银行完全可以轻松

抵挡不利经济状况，因为其银行体系资

本非常充足，一直都保持着一级资本比率

13.2%，而欧洲银行管理局的最低资本要

求为9%。

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

衰退，这一惨痛教训也是如今的芬兰能在

全球金融危机中幸存下来甚至可以保持适

度繁荣的部分原因。2010年麦肯锡报告显

示，芬兰经济之所以能够完全从衰退中恢

复回来，主要得益于该国在信息通信技术

行业的迅猛发展以及私营行业生产力和竞

争力的显著提高。

据芬兰投资局报道，该国GDP增长主

要依靠服务业的推动（65%），其次为制

造与再加工行业（31%）和初级产品的生

夏季白夜是随处可见的景象

April 201350

焦点 芬兰

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

核能产量，而在这一点上芬兰的政治立场

却恰恰相反。

说到芬兰能源产业与能源组合，芬

兰洁净技术公司的种类和数量着实引人注

目——总数达到2000家，据芬兰投资局表

示，最卓越的几家洁净能源公司在2010年

的营业总额高达179亿欧元，年增长率达

到5.6%。

除了生物能与可再生能源以外，其

他重要清洁技术行业也包括了清洁工业流

程、分析与自动化以及净水和污水处理。

从中国尚德太阳能电力控股公司的失败案

例中我们可以看出，中国对环保技术的期

望值很高。虽然尚德公司退出市场更多的

是由供给过多和恶性价格竞争引起，但这

也反映出中国洁净技术市场的不平衡现

状。

这里当然存在着与创新和研发交流有

关的知识产权风险，但是芬兰清洁技术公

司在中国仍然有很多商业机遇，而他们最

首要的任务就是得到中国市场的邀请。

核能服务

中国核能行业协会正式批准必维国际

检验集团（Bureau Veritas）加入协会，

成为协会为数不多的外资机构会员。这不

仅意味着中国核能行业对于必维在核能服

务领域专业化服务的认可，也说明中国核

能行业越来越对外开放的趋势。

随着世界各国对核电的政策规划逐

渐明朗，除了德国、日本等国外，其他国

家均采取积极举措扶持核电产业。核能将

成为全球发展潜力巨大的能源之一。对于

核电站在建规模居世界第一并且还有一批

项目处于前期准备阶段的中国核电市场而

言，中国核电服务市场有望迎来新一轮

“繁荣期”。而在此时加入核能行业协

会，对必维来说是使得其本土化战略得到

了进一步的落实的又一契机，必维核电业

务部负责人张文印谈及此事时说：“我们

在核电领域拥有丰富的经验，在机械设

计、金属冶炼、无损检验等方面均拥有顶

尖技术。我们是全球唯一的同时为芬兰欧

洲压水堆（EPR）和中国AP1000核反应

堆两个第三代核电原型堆工程提供质量服

务的检验机构，并参与了多个中国核电项

目，因此我们有自信能够与中国核电共同

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。”

必维是全球领先的第三方检验认证机

构，其检验评估工作是贯穿从核电项目的

可行性研究直至电站最终退役的整个“核

电寿命周期”。在华核电服务始于1997

年，在过去的15年中，先后为大亚湾、

秦山一期、秦山三期、岭澳一期、岭澳二

期等核电站提供服务，目前正在为在建的

浙江三门、山东海阳、广东台山、广东阳

江、福建福清等核电站提供质量服务。在

中国的服务范围涉及材料控制、设备工厂检

验、供应商监查、设备现场安装控制、项

目管理、设备符合性评估（强制认证）、

培训、咨询等方面。这些宝贵的经验成为

其获得中国核能行业协会认可的重要因素

之一。

信息通讯

芬兰另一个有趣的产业就是信息与

通信技术业。信息技术产业竞争力指数显

示，2011年芬兰的研发投资在本国GDP

的比重位居欧洲第一、全球第二。此外，

活跃在高科技以及包括微软手机、iOS、

安卓系统和Linux在内的移动平台与操作系

统领域的特殊开发人群也将芬兰变成了欧

洲的创新热区。这一切原因何在？

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

术局、芬兰国家研发基金会及芬兰担保委

员会的资金支持，他们都为技术研究和新

公司成立提供资金。芬兰的新兴企业可以

较为容易地从以上机构获得公共研发投资

基金。信息与通信技术领域的一个成功案

例（并非诺基亚）就是愤怒的小鸟开发商

April 2013 51

冰天雪地的极北地带

Rovio Oy，这款游戏在中国市场似乎比在

本国市场更为成功。

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，

中国也认识到了芬兰IT技术在很多方面的

巨大价值。

华为在去年12月宣布该公司计划于今

后5年投资7000万欧元（约合5.56亿人民

币），在芬兰首都赫尔辛基建立研发办公

室。华为雇佣了100名芬兰工作人员，通

过这种方式吸收了诺基亚因企业衰退而裁

减的人力资源，就像之前诺基亚重新利用

埃森哲的人力资源一样。华为的案例非常

有趣，因为有迹象表明联想也在向中国以

外的地区扩张，这一趋势虽然缓慢，但却

是确定无疑的。中兴通讯是另一家不愿意

在海外市场落于人后的中国公司。

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

技术蜚声全球且拥有理想的市场定位，但

也不能坐等中国单方面来完善两国在信息

与通信技术领域的合作关系。

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

球现象，并始终是排名第一的付费游戏应

用，并且迅速扩张至娱乐、出版，授权领

域，已成为世界流行的国际品牌。

总部位于芬兰的Rovio是颠覆行业

的娱乐媒体公司，成功打造了愤怒的小

鸟形象。近期该公司与中国移动广告网络

和移动营销解决方案提供商亿动广告传媒

(Madhouse)结盟，成为中国区移动广告

战略合作伙伴。

“我们一直都非常重视与Rovio的

合作。”亿动广告传媒创始人兼首席执行

官马良骏说道，“愤怒的小鸟自接入亿动

智道广告网络平台以来，取得很大成功，

不仅广告效果优异，更赢得广大品牌广告

主的认可和青睐。我们相信，随着新款游

戏愤怒的小鸟星球大战的问世，势必引发

新一波的游戏热潮，吸引更多广告主的瞩

目。”

去年8月，由愤怒小鸟的开发公司研

发的游戏球 iBall 正式登陆中国。作为一款

人机互动的体感游戏，不仅突破了传统体

育场地的限制，还可以另游戏者体会到在

体育场竞技的真实感受。此前，该款游戏

已在芬兰、英国、意大利、立陶宛等多个

国家上市，特别受到家庭消费者和办公室

白领的喜爱。

安卓、Linux、Mac 和其他平台文件

系统的市场领导者Tuxera 公司今年1月宣

布在中国北京设立办公室，这是该公司在

亚洲设立的第三个球第五个办公室。

中国办公室将为大中华区快速增长的

文件系统市场需求提供产品和服务支持。

在嵌入式软件和半导体行业拥有超过15年

专业经验的陈永畅被任命为中国区销售与

业务发展总监。对于新办公室的设立，他

表示：“我们一直致力于和在中国和亚洲

其他地区的领先消费电子厂商建立和维持

长期互利的合作伙伴关系，新办公室设立

之后，我们的客户将获得更加便捷和个性

化的服务和支持。”

据分析人员估计，今年中国消费电

子行业将继续维持9%左右的稳定增长，

同时，对消费电子产品多平台之间全面的

交互操作性和高性能的需求也正在经历快

速增长。该公司首席执行官米克·维力玛

（Mikko Valimaki） 认为，设立当地办公

室至关重要。“我们正在和拥有世界上增

长最快的技术行业的国家中国一起发展，

我们越来越多的重要客户来自亚洲，在北

京建立办公室是我们拓展亚洲市场的重要

环节。毫无疑问，本地化运营可以使我们

的工程师团队保持更好的团队协作，方便

我们和客户在更大的项目上开展合作。”

他说道。

沐浴在无穷无尽的阳光下

April 201352

焦点 芬兰

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www.importexpo.org

According to the main stere-

otype about Finland that has

gained ground over the previ-

ous decade, the country is most com-

monly associated with a triad of con-

notations – 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-

Finland – Nordic exporter of clean tech and ICTBy Riikka Koponen

eters linked to health, education, qual-

ity 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 real-

ity 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 sys-

tem had fared well through the global

financial crisis as local banks had been

prudent in lending during the previous

expansion phase and had little expo-

sure 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

April 201354

SPOTLIGHT FINLAND

shipbuilding and Arctic equipment,

while Denmark and Sweden offer an

excellent showcase for a service-ori-

ented state model with a strong public

sector.

From the viewpoint of China, pos-

sibly the most interesting innovation

know-how that Finland has on offer is

a wide range of technologies for ICT to

improve energy efficiency, more effi-

cient use of renewable energy sources

and the development of energy infra-

structure, housing, transportation and

logistics. Finland ranks fourth on the

Innovation Union Scoreboard of the

EU after Sweden, Denmark and Ger-

many, according to Statistics Finland.

Clean technology – mutual business caseFinland is one of the world’s leading

users of renewable sources of ener-

gy, bioenergy in particular. In other

words, wood- and wood-based fuels,

hydropower, wind and solar energy as

well as ground heat. Currently, renew-

able sources provide 25% of Finland’s

total energy consumption and account

for more than 25% of its power gen-

eration, according to the Ministry of

Employment and the Economy.

Peat, classified as a slowly renewable

bio mass fuel, also occupies approxi-

mately 6% of the energy balance and

is expected to increase its importance

as a domestic fuel securing energy sup-

ply. 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-

well capitalized at a Tier 1 ratio of 13.2

per cent, compared to the EBA’s mini-

mum capital requirement of 9 percent.

Finland’s ability to survive and even

modestly prosper through the finan-

cial crisis is also partly due to the les-

sons 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 communica-

tions technology (ICT) sector com-

bined with significant improvements

to productivity and competitiveness in

the private sector.

Today, Finland’s GDP growth is

driven by the service sector (65%), fol-

lowed by manufacturing and refin-

ing (31%) and primary products pro-

duction (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 – op-portunity for R&D and innova-tion exchangeWhen it comes to the issue of coop-

eration between Finland and China,

the key factor in the establishment of

a partnership in trade and econom-

ic 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 seek-

ing information about Finnish solu-

tions particularly in the sectors of envi-

ronmental protection, clean technolo-

gies, education and reform of state-

owned 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 Com-

mission.

But the Sino-Finnish partnership

could be deepened further to the ben-

efit 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, envi-

ronment, ICT and nanotechnology.

In fact, expanded Chinese invest-

ment 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,

April 2013 55

SPOTLIGHT FINLAND

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 compa-

nies catches the eye – 2,000 enterprises

in total. In 2010, the overall turnover

of the most prominent Finnish clean-

tech companies amounted to EUR 17.9

billion with an annual growth rate of

5.6%, Invest in Finland says.

In addition to bioenergy and renew-

able sources, other key clean technol-

ogy sectors include clean industrial

processes, analysis and automation

as well as water and wastewater treat-

ment. As seen in the recent case of

China’s failed solar power manufactur-

er Suntech Power Holdings, the expec-

tations for environmental technologies

in China are huge. Even though Sun-

tech’s elimination from the market was

caused more by oversupply and vicious

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 opportuni-

ties for Finnish clean tech companies in

China. First, however, they must receive

an invitation to the Chinese table.

ICT – Angry Birds and other speciesAnother interesting Finnish innova-

tion sector is information and commu-

nications technology (ICT). As a per-

centage of GDP, Finnish R&D invest-

ments are the third largest in the world

and in 2011, Finland ranked No. 1 in

Europe and No. 2 in the world accord-

ing 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 Win-

dows 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 Chi-

nese market than back at home.

China’s huge smartphone market

has already attracted many Finnish

ICT start-ups, and China has recog-

nized the value of Finnish IT know-

how in many ways, including Huawei’s

announcement in December 2012

that it planned to invest EUR 70 mil-

lion over the next five years to open

a research and development office in

Finland’s capital, Helsinki. By employ-

ing 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, start-

ing to expand their presence outside of

China. ZTE is another Chinese com-

pany 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 posi-

tioning, Finland should not stay wait-

ing for China to politely ask for con-

summation of its ICT friendship.

April 201356

SPOTLIGHT FINLAND

为什么想要进军中国市场？

我们经营的是完整应用程序智能手机管理。中

国市场发展迅速，而我们的产品恰恰能够迎合

中小企业的需求。我们自2002年公司创立以

来已经积累了许多的先进移动设备管理领域的

经验。去年12月我们与中国代表团见面并且

已经确定了一个合作伙伴。中国的业务前途十

分光明。接下来几周我们会一直在中国了解市

场并且寻找合适的合作伙伴和私人股本公司。

SyncShield具备哪些成功的优势?

我们的用户界面非常便于使用，服务也很强

大，并且不需要第三方许可。我们提供范围广

泛的解决方案，安全管理以及设置和应用程

序。服务面向广泛的背景和平台，包括智能手

机和平板电脑在内。而我们正是通过独特的平

台而在充满挑战的美国市场获得了一席之地。

我们提供程序包、用户档案管理、云计算解决

方案、公司内部服务和管理服务等。我相信这

些独特的功能会让我们在中国取得成功。

您为中国市场的策略制定了怎样的短期目标和

长期目标？

短期内的目标是找到增值合作伙伴。我们希望

找到有双赢案例的商业模式。无论是合资企业

还是私募基金，我们正在积极寻求能够扩大我

们规模的合作伙伴。这就是我们在中国市场的

短期目标。

长期目标是拥有更大的市场份额。在日

本和印度我们已经通过合作伙伴实现了本地

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

已经准备就绪。我们之所以想要在以上地区生

根发芽，目的就是为用户节省包括运费在内的

各种额外费用。我还注意到一件有趣的事，那

就是中国的平板电脑市场的发展势头已经超过

了移动设备应用程序市场。

您在中国市场的定位是怎么样的?

我们的客户有企业也有个人消费者。在移动设

备管理这一市场，针对企业的应用程序越来越

多。人们首先必须要有自己的设备，然后企业

就可以建立自己的配置、系统设备和设备政

策。这就是我们锁定的目标群体。

Capricode is looking to enter the Chinese market

through a joint venture. Why have you decided

to enter China, what are the advantages and chal-

lenges in regard to market entry?

We operate full application smartphone manage-

ment. The market in China is growing fast and

our product is very good for SMEs looking for

what we can provide. We started back in 2002 and

have accumulated a lot of experience in advanced

mobile device management. Last year, in December,

we met a Chinese delegation and already found a

partner. Business in China is looking promising. We

will be in China in the next few weeks to not only

understand more about the Chinese market but to

also find the right partners and private equity firms.

What would you say are the key features of Sync-

Shield that will bring success to Capricode in the

Chinese market?

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

also very powerful and there is no need for third

party licensing. We provide a wide range of solu-

tions, managing security, settings and applications.

Importantly, we provide services to a wide back-

ground and to a wide range of platforms including

smartphones and tablets. For example, we gained

presence in the challenging US market due to our

unique platform. We offer packages, user profile

management, cloud solution, in-house services

and management services among other things. It

is these unique features that I believe will bring us

success in China.

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

goals in terms of your strategy in China?

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

partners. We want to find business models with

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

ture, or private equity funds, we are actively seeking

partners in which we can expand our presence.

This is our short-term goal in China.

The long-term goal is have a greater market

share. We already have a localized presence in

Japan and India through our partners. In fact, we

have ground service already available in China to

developers. The patents have already been filed in

Hong Kong and the product is ready to go. The

main reason we want to have a presence across all

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

customers like shipping costs. Another interesting

point is that the tablet market in China is growing

very fast, faster than the mobile application market.

Is there a specific market within China you are

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

focusing your efforts on?

Our customers are enterprises and consumers as

well. There are more and more enterprise applica-

tions out there within the MDM sector. People

would have to have their own devices first. The

companies can then build up their configuration,

system devices and device policy. This is the market

we are looking to target.

Eero Seppänen, CEO of Capri-

code Oy, a Finnish high-end soft-

ware 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.

Capricode Oy是一家芬兰的高端软

件供应商，主要产品为SyncShield®先进

移动设备管理（AMDM）。公司的首席执

行官Eero 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

业来进入中国市场的打算。

CO

-PU

BLISH

ED AR

TICLE

Founded 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 ”Cross-

Wrapped” bale or package will withstand weather conditions,

transport and storage. Our patented method is also suitable

for packing materials such as plywood boards, laminated tim-

ber and other construction materials, as well as interior deco-

ration items, or even fluid containers.

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 increas-

ingly 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.

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。

Teollisuustie 6, 71800 Siilinjärvi, FINLAND | Tel. +358 17 287 0270

www.crosswrap.com | sales@crosswrap.com

Albertinkatu 27b, 00180 Helsinki, FINLAND

Tel. +358 40 5442758

www.jongla.com

info@jongla.com

Jongla – 新移动通讯革命

Jongla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 – new mobile messaging revolution

Competition 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 Her-

ring’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 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 sim-

ple, 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 al-

lows 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。

“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

若问起普通中国人，说到芬兰，他们

能想到的第一件事是什么？他们也

许会说用诺基亚的人越来越少或是愤怒的

小鸟这个游戏。但是中国和芬兰之间的联

系不仅仅是没落的手机品牌和一个小时的

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

长，以应对国内排放和高效节能方面的挑

战。中国粗制滥造的住宅楼和办公楼并没

有使用隔温层，因而提高了供热制冷成

本；而芬兰的建筑仅用一小部分的特定能

量，便能够在一年四季维持宜人的稳定温

度，因此引起了中国的兴趣。

2010年，中国和芬兰签署了12项清

洁技术协议，总价值达2.5亿美元。芬兰

方面争取利用中国启动环境改革的决心，

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

网络框架）和由芬兰政府为研究和发展

项目提供经费的部门Takes进行整合，从

属于一个名字巧妙的机构—芬兰梦之队

（Team Finland）。这个新的超级机构将

负责打头阵，争取与中国公司和机构结成

最有利的伙伴关系。

近期，Tekes的领导耶莫·海诺能

（JarmoHeinonen）以及FinNode的主

任莎莉·阿尔和-哈弗龙（Sari Arho-

Havren）就清洁技术和“冷技术”创新等

问题接受了本刊采访。

问：这个机构将如何帮助中国提升空

气质量？

答：在芬兰，不管是在建筑方面还是

运营方面，我们都执行相当严格的标准，

同时我们也抓紧高效节能。我们的确也十

分希望和中国展开合作。在高效节能方

面，潜力是最大的。对于建筑，我们有着

零排放的政策，这能够在减少项目碳足迹

方面起到立竿见影的效果。我们能够将这

种专门技术应用于中国，而效果也是十分

迅速的。

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？

答：我们与中国政府有几项协议。而

最高级别的协议当属中国科学技术部与我

们的主办部门，芬兰经济就业部签订的协

议。国家发改委与经济就业部签订的协议

主要源自于在清洁能源方面的合作，但是

我们省级与市级的协议与合作更具体。例

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

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

是十分必要的。过去，中国公司对于与芬

兰公司合作的兴趣更大；而现在，由于中

国的潜力巨大，外国公司与中国合作的竞

争是相当激烈的。

问：芬兰公司的优势体现在哪里？

答：芬兰的优势领域不仅包括清洁

能源，同时也包括“冷”技术。我们国家

气候寒冷，因此我们的建筑一直以来都是

结实而高效节能的。因此我们拥有这些寒

冷技术的解决方案。有时候，有些东西过

于明显，因而让我们忘记了其商业性。在

上海，若是我关掉冷气，而房间不到一个

小时就变的冰冷，房子是粗制滥造的。在

这一方面，芬兰有着绝对的优势。实际上

是中国首先提出中芬两国可以在artic研究

上合作，然后我们觉得“哦，对，的确如

此”。

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？

答：我们实际需要的是一些试点项

目和展示。我们需要更多具有潜力的芬兰

公司的参与，在价值链中定位关键角色。

当然，中方也需要做同样的事情。然后我

们将能够创建一个试点项目。一旦我们说

Sari Arho Havren Jarmo Heinonen

April 201360

焦点 芬兰：人物访谈

“好，这可行”，那么我们就可以用它来

作为未来项目的参照点。如此，这也许能

够让中国的伙伴开始用新的方式进行思

考，甚至也许能够影响政策本身。但是中

国仍然任重而道远。在芬兰，我们也有一

些实验项目，我把他们成为“后智能城

市”项目。智能城市的第二级别便是利用

跨行业合作，并广泛应用网络交流技术。

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

能源战略，这也是我们自问的问题之一。

今年夏天，我们将完成多项政策性阶段的

第一阶段。希望我们得出的结果能让我们

继续致力于类似智能城市理念在中国的应

用。我们希望芬兰公司能够继续努力，但

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。

问：谁是可靠的执行者？

答：少数小型公司拥有高技术解决方

案，但是他们并不能真正与相当大型的中

国公司结成伙伴关系。中国需要更大型的

公司，规模是很重要的。我们注资的芬兰

公司都是很成功的，而我们提供的资金也

是属于风险资金，因而能够让这些芬兰公

司能够尝试一些没有风险资金就无法成功

的事情。我们不是慈善机构。

问：在清洁技术方面，中国对国外投

资者的吸引力有哪些？

答：中国的潜力十分巨大，同时中国

政府也意识到中国必须有所作为，特别是

针对北京和其他城市的空气污染及水资源

问题方面的抱怨。这些方面的压力相当的

大。

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

在未来会有更大发展，它将在造船业价值

链上再次将中芬两国连接起来。芬兰的造

船业十分发达，同时我们也将此项业务的

重心转移到东亚、韩国和日本。清洁技术

就是其中的一部分。造船业在将来也将成

为绿色领域的一部分。因为我们在这个领

域拥有很多专门技术，我们需要为这些专

门技术寻找新的施展之地。同时我们也在

研究如何与中国在这方面展开合作。

问：你们看到中国的有哪些自主创

新？

答：中国的确在中间市场创新上有强

势的表现。中国善于倾听消费者的意见，

并与消费者共同创新以满足消费者的需

求。就这方面来说，中国比很多西方国家

要好。西方国家仅是想兜售我们的高技术

解决方案，但是中国确实咨询了消费者，

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

焦点 芬兰：人物访谈

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

The competitive cold front

If you ask the average Chinese per-

son what first comes to mind at

mention of “Finland,” they might

mention Nokia’s declining popular-

ity 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 com-

mute to work more palatable.

Beijing is increasingly interested in

‘cold tech’ innovation [term used for

energy efficient weather proofing tech-

nology] to help tackle the country’s

emissions and energy efficiency chal-

lenges. Shoddily built homes and offic-

es in China often make no use of insu-

lation, 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 Fin-

Node – a global networking frame-

work 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-agen-

cy is spearheading Finnish efforts to

snatch up the most lucrative partner-

ships 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 prob-lems 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 con-

struction or operations. That’s some-

thing we’d definitely like to work more

with China on. Energy efficiency is the

area where there are the most possi-

bilities. We have a zero-emissions pol-

icy 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-bor-der 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 exam-

ple 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 organiza-

tions submit joint proposals to com-

pete 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 ap-plications?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 governmen-

tal level of guidance. It used to be that

Chinese companies were more inter-

ested in the collaboration with Finn-

April 201362

SPOTLIGHT FINLAND

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 advan-tages of Finnish companies?Finland in particular is part of a dis-

cussion on not only clean tech, but

also “cold” tech. We are a cold coun-

try, 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 sug-

gested that maybe China and Finland

collaborate in artic research, and we

thought, “Ah, yes, exactly!”

How is your organization en-couraging Chinese companies to adopt more environmentally-friendly building practices? What I think we actually need are

some pilot projects and demonstra-

tions. We need to get potential Finn-

ish 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 cre-

ate 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 cross-

industrial cooperation, and extensive

use of internet communications tech-

nology.

Once you have a promising pilot project, what’s the next step for getting China’s central govern-ment’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 strat-

egy phases by this summer. Hope-

fully 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 wide-

spread 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 Chi-

nese 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 link-

ing China and Finland together in the

shipbuilding industry’s value chain.

Finland has been a very strong ship-

builder, and now this business is heav-

ily 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 cus-

tomers 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 high-

tech 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

SPOTLIGHT FINLAND

Alberto Forchielli on how private equity must adapt to a China that is no longer the work-shop of the world

The future of private equity

China’s economic boom

through the aughts made

many sectors seem like get-

rich-quick schemes. Often it seemed

like anyone with an ounce of busi-

ness 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 l ike 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

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 out-

sourcing to China and the future of

private equity in the mainland.

What’s the status of your cur-rent 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 Chi-

nese companies and make them grow

in Europe.

Let’s talk about Europeans inter-ested 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-

INTER VIE W

April 201364

ufacturing] is dead. The people who

move production because of lower

costs are finished. Nobody’s moving

to China for offshoring anymore. Peo-

ple 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, distribu-tion 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 –, phar-

ma machinery, medical devices and

healthcare software.

The second sector is obviously envi-

ronment, 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 ele-

ment of all our investment is we invest

in areas that require strict certifica-

tion. 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 bar-

riers that protect you from domestic

competitors.

Because you think that with the expertise of the fund managers, they’ll be able to get the approv-als more easily? Or why would your fund succeed whereas oth-ers 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 politi-

cal sensitivity. We had an intellectual

property case, where we had a Chi-

nese 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 eve-

rything. 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 automo-

biles 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 slaugh-

ter. 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 minor-

ity 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 driv-

en 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 pri-

vate 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 pri-

vate equity firms are talking about out-

bound but they don’t seem to be able to

set up an office [in Europe].

April 2013 65

REPORT

These are the droids you’re looking for

Three 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, consider-

ing the company and the country fell

out over censorship issues in 2011. In

a report last month, an institute affili-

ated 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 Telecommuni-

cation 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 smart-

phone market. The company essential-

ly set the foundation for now popular

Chinese-made smart devices by offer-

ing its free, customizable operating

system (OS). Without Android, Chi-

nese 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 suc-

cessful, imported products and replace

them with domestic ones. The pecu-

liar 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 high-

end telecommunications market that

will double in size this year?

An OS by any other nameDespite it being the platform for up to

nine out of every 10 smartphones in

China, the appearance and functional-

ity of Android varies between devices.

Many Chinese smartphones that use

Android don’t feature Google appli-

cations, 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

China is scowling at Google’s not-so-open Android operating system – with good purpose

April 201366

one detail that irks the Chinese gov-

ernment: 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 technol-

ogy at San Jose-based market intel-

ligence firm Creative Strategies, refer-

ring to the point at which develop-

ers outside of Google are permitted to

code the software.

The fundamental building blocks

of most open-source software is co-

developed by a company and a com-

munity 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 cus-

tomize 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 any-

thing 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 smart-

phone market with the help from a free

operating system. In the long run, reli-

ance on Android could end up costing

Chinese phone makers, especially if they

suddenly find themselves in head-to-

head competition with Google.

While Android is open-source, and

therefore generally does not require

Google’s legal authorization, the com-

pany can informally influence com-

panies 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 can-

celed the release of a phone that used

an Alibaba-developed operating sys-

tem after Google objected, saying that

the OS, called Aliyun, was an unau-

thorized version of Android.

More than 90% of Acer’s other

phones use Android, so when Google

spoke, the Taiwanese technology com-

pany listened. To the protest of Ali-

baba, the phone never hit the market.

It was an unprecedented display of

power by Google that hints at the lev-

erage it has over companies that heav-

ily 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-Goog-

le-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, con-

trol could come in the form of delay-

ing 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. Further-

more, 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 gov-

ernment throw at research and devel-

opment, Putcha said. He points to the

case of the Blackberry system which

is struggling globally despite the large

amount of time and money the devel-

oper, BlackBerry, puts into it.

The China Academy of Telecom-

munication 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 gov-

ernment 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 con-

form or be exiled.

April 2013 67

REPORT

Watchful eye

Spring 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 dis-

pute 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 regula-

tor had submitted recommendations

to the State Council on how to deal

with the US but results from this have

yet to surface. Accountancies, includ-

ing 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 Com-

pany Accounting and Oversight

Board (PCAOB), the congression-

ally 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 securi-

ties if it boots Chinese firms from New

York exchanges.

Such a looming possibility creates

a tremendous amount of uncertain-

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 US-

listed Chinese firms.

Turning up the heatVery little has changed so far in 2013.

Chinese firms have halted IPOs in New

York. The PCAOB and China Secu-

rities 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 certain-

ly turned up the heat, since it shows

that accounting problems in China

have not gone away,” Paul Gillis, an

accounting professor at Peking Uni-

versity’s Guanghua School of Man-

agement, 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

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

April 201368

affiliates of five of the largest US audit-

ing 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 sightThe 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 dead-

line was no more than the expiration

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 with-

out results, it could propose deregister-

ing 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 capi-

tal 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, inter-

national 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 audi-

tors – or at least the beginning of such

a process. But this method would leave

out opportunity for public participa-

tion in the process. It would also no

doubt put investors even deeper in the

dark on the state of their investments

in Chinese firms.

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届中国国际船艇及其技术设备展览

会【简称CIBS】为亚洲规模最大、

中国历史最悠久的综合性游艇展

会。覆盖实船、游艇设备、游艇服

务整个产业链，奠定其中国游艇行

业领头羊地位。

凭借独特衍生的Life Style“尚品生

活展”及Expo Leisure“国际休闲产

业展”，形成游艇尚品及休闲产业

相结合的完整产业链展会，将其独

有的文化和乐趣带给更多人。

The 18th China (Shanghai) International Boat Show [CIBS] is the largest boat show in Asia and is the first and oldest in China. CIBS exhibits yachts & boats and marine leisure related equipment and services, firmly placing CIBS as the number one in its field.The addition of the EXPO Life Style and Expo Leisure Show completes and enhances the picture in the yachting, luxury and leisure industry.

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

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

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

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

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。

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 - 14:302013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

April 2013 69

面子中国人的社交往来莫不以面子为准则

文 | 晏格文 (Graham Earnshaw)

放眼 中 国 或 全 世

界 ， 林 语 堂 先 生

无疑是20世纪最伟大的

作家之一。他生于1895

年，卒于1976年。他的

英语水平甚至比我高出一

大截。他对中国的语言、

文化和心理的捕捉更是无

人能及。他于1935年以

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

版本都由他亲自执笔。这本试图对“国民

性”进行心理分析和阐述的著作本质上即

是对中国人生活的验证。

我经常听到中国人和外国人谈起中国

的变化节奏如此之快，今非昔比。从表面

上看的确如此，在某些根本性的领域里也

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。

该书于19世纪30年代写成，当时中

国正经历巨变，但仍与旧时代有着明显的

牵连。这种牵连在此后的数十年受到了严

峻的考验。尽管如此仍有许多地方没有变

化或变化甚少，并且大多为“国民性”的

根基。

在林先生的众多观点中，有一条至今

与现代中国密切相关，那就是他认为这个

国家被“阴性的三位一体”所统治。和官

僚无关，它们分别是面子、命运和恩惠。

“这三位姐妹过去统治着中国，现在

也如此。唯一真正值得一试的革命是反对

阴性三位一体的革命。问题是这三位女人

是那样地斯文，那样地迷人。它们使我们

的祭司堕落，向我们的统治者献媚，保护

强者，引诱富豪，麻醉穷人，贿赂有雄心

壮志的人，腐蚀革命阵营。”

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。

“它不是一张面孔，可以揩洗或刮

须，却是可以‘得’‘失’‘争取’，

更可以当礼物一样‘赠送’。这里吾们达

到中国人社会心理最微妙奇异的一点，抽

象而不可捉摸的，但却是最高等最精细的

规范。中国人的社交往来，莫不依此为准

则。”

如何定义中国人的“面子”？林先生总结道：“‘面子’的意义，

不可翻译，亦无从予以定义。它好像是荣

誉而不是荣誉，它不能用金钱购买却给予

男男女女一种实质的光辉。它是空虚无实

际的,而却是男人家争夺的目标，又有许多

妇女为它而死。它是不可目睹的，但是它

却存在而展开于公众之前。它存在于太空

之间，其声息似可得而闻；且其声崇高而

充实；它不负公理上的责任，却服从社会

底习俗，它耽搁诉讼，拆散家产，引起谋

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

被珍视，高于尘世上一切所有。它比之命

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

则将拭目以待。

看中国

许多官员一个晚上要参加3至4个宴会

April 201370

晏格文

Lin Yutang’s review of Chinese culture and psychology is highly instructive By Graham Earnshaw

The Female Triad

One 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 bet-

ter 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 Eng-

lish 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 for-

eigners saying that China is changing

so fast, the pace of change is increas-

ing, everything is different. Superfi-

cially, 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 mas-

sive changes but still had clear and

unbroken continuity with the past.

That continuity has been severely test-

ed over the decades since. But never-

theless there are many points where

there has been little or no change,

many of them fundamental to “Chi-

nese-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 revolu-

tion against this female triad. The trou-

ble 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 demoral-

ize 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 Chi-

nese 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 pur-

chased 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 eminent-

ly respectable and solid. It is amenable,

not to reason but to social conven-

tion. 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 insult-

ed 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 constitu-

tion. 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 satis-

factory 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.

LOOKING AT CHINA

April 2013 71

“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，

是 文 坛 大 腕 ， 是

唐 宋 八 大 家 之 一 ， 他 的

《醉翁亭记》脍炙人口，

妇孺皆知。但是很少有人

知道他还是个“房奴”。

我 说 欧 阳 修 是 “ 房

奴”，不是指欧阳修买房

时贷了很多款，然后节衣

缩食还贷，拼命工作，却

不敢花钱，小日子过得紧巴巴的，就像今

天按揭买房的广大工薪族那样。

欧阳修完全属于另外一种“房奴”。

他买房时没有贷款（虽然他那个时代已经出

现了贷款买房和贷款装修的社会现象），

他也没有为了买房而缩减日常开支，他用

不着像今人一样被银行按在地上，然后每

月揭一层皮，但是他的的确确为了拥有一

所属于自己的房子而耗掉了大半生光阴，

他跟咱们现代中国人一样做过房子的奴

隶。

用 现 在 的 话 讲 ， 欧 阳 修 是 个 官 二

代—他父亲在四川做过官。不过欧阳修

又是一个很不幸的官二代—他父亲在他

刚出生的时候就去世了（一说欧阳修是遗

腹子，即父亲在他出生之前就死了）。父

亲一死，家里没有了靠山，也失去了经济

来源，甚至连一所房子都没有，还在襁褓

里的欧阳修只好跟着母亲去叔父家借住。

这一住，就是二十五年。

欧阳修从二十五岁开始工作，一直

到四十二岁那年，始终都没有置下一所房

子。这十八年当中，他做过好几任京官，

也做过好几任地方官，做京官的时候就在

开封租房住，做地方官的时候就住在衙门

大院里。换句话说，他一连度过了十八年

的无房生涯，如果再加上做官之前和母亲

借住叔父家房子的那二十五年，他的无房

生涯其实长达四十多年。

宋朝有位大官叫寇准，为官四十年，

始终不买房，连皇帝赐给的府邸都不要，

时人写诗歌颂，说他“有官居鼎鼐，无地

起楼台”，风格之高无人能比。但寇准

是个非常出奇的特例，欧阳修跟他并不一

样，欧阳修之所以不买房，只是因为钱不

够。为什么钱不够？因为不贪污。欧阳

修给侄子写过一封信，说“居官宜守廉，

不宜买官下物”，意思是为了做一个真正

清廉的干部，甭说贪污受贿，就连辖区内

的东西都不要买（以免别人通过低价卖给

长官的方式来变相行贿）。实在讲，宋朝

官员薪水是很高的，但是一个不收丝毫贿

赂的官员要想买一所称心如意的房子，还

是会觉得力有未逮，因为在欧阳修那个时

代，房价比薪水还要高。究竟有多高，将

来有机会咱们专门再谈。

欧阳修买房的愿望非常强烈。他见

同年进士刘中允买了房，很羡慕；见自己

的下属张谷买了房，很眼红。他在开封租

房的时候，给朋友梅圣俞写信，说“吾居

传邮耳，此计岂踌躇？”我租的房子就像

一个驿站，将来一定要买房；他在滁州住

衙门大院的时候，给朋友曾巩写信，又说

官舍“如传邮耳”，不能当成家。什么样

的房子才能当成家？只有自己的房子才可

以。

四十二岁那年，欧阳修终于如愿以

偿，在安徽阜阳（当时叫颍州）买了房，

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》

话题

April 201372

李开周

为阜阳有西湖，风景优美，是欧阳修最喜

欢的地方。

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

使是在外地做官、公务繁忙的时候，也不

忘遥控指挥着家人在阜阳购买其他房产。

等到欧阳修快去世的时候，他们家在

阜阳的房子已经多达百余间了，家里人住

不完，多余的全部租出去，每月可以收回

一大笔房租。除了房子，欧阳修大约还置

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。

欧阳修有四个儿子：欧阳发、欧阳

奕、欧阳棐、欧阳辩。这四个儿子后来都

做了小官，都有自己的薪水。假如他们不

做官，光凭欧阳修晚年置下的房子和田

产，大概也不至于挨饿。我想这也是欧阳

修之所以买了房子以后又继续买房买地的

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

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

原因所在，就像现在中产阶级买了一套房

子还要买第二套房子，买了第二套房子还

要再买商铺，好让儿女将来可以碌碌无为

混吃等死一样。

从宋朝到今天，从欧阳修到我们，时

光流逝得很快，但是对于房子的心态似乎

从未改变，那就是必须拥有一所属于自己

的房子，不然住着再大再豪华的房子都不

安心；另外有了房子以后，还要再买更多

的房子，不然就觉得没有对下一代尽到责

任。

欧阳修去世以后没几年，一个名叫

张耒（苏门四学士之一）的年轻人在开封

城南租了房子，朋友去拜访他，他写了两

句诗：“谁令僦舍得契阔，此事我每愧古

人。”僦舍即租房，契阔就是聚会，他是

说自己没有买房，只能在租来的房子招待

朋友，很没有面子。再后来，苏东坡的

弟弟苏辙做官多年尚未买房，眼看儿子

们都大了，感到很着急，也写了两句诗：

“吾老未有宅，诸子以为言。”意思是我

活这么大年纪还不买房，儿子们肯定要埋

怨我。当我读到张耒和苏辙这两个人的诗

句以后，我就知道又有两位“房奴”横空

出世了。

行文至此，我相信您已经明白我所

说的“房奴”的意思，它不是指先按揭后

还贷的购房者，而是指欧阳修那样为房子

付出大半生光阴的人，是指张耒那样因为

在租来的房子里招待宾客而感到没面子的

人，是指苏辙那样到了晚年还要为后代置

业的人。我当然知道他们已经死了很多很

多年，但是他们的”房奴”特性仍然存活

在大多数中国人的身上。（作者已出版

《民国房地产战争》《君子爱财：历史名

人的经济生活》《千年楼市：穿越时空去

古代置业》《食在宋朝：舌尖上的大宋风

华》等书籍）

April 2013 73

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 )

西游记

沿着长江边上从巫山到奉节和从宜昌

到万州的距离相当。位于三峡东西

两端的城市依山而建，但是相距甚远。山

路顺着峡谷弯弯曲曲，沿路有零星农舍点

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。

同时，充满春意的世界却在雨后的清新中

闪闪发光。蔬菜色泽鲜亮，显示出土地的

深沉与活力。我穿过雾气，在窄路上跋

涉。一块悬崖出现在右方，并朝着谷底以

60度角的方向倾倒。我花了一小时在雾气

缭绕的云河上时进时出，这些雾气汇成一

股股淙流，爬上了山坡。

我对花卉关注了许久，主要的色彩

是紫色和黄色。我认出了雏菊，但遗憾的

是，我从未研究过花的品种而且只认识玫

瑰和郁金香，于是只能离开。不过我知道

在英国花园中栽培的花朵多数移植于中国

的野生地带，正如我眼前的野花。

农舍墙上的标语大多数与火相关，

如“防火护林”—旨在阻止农民为获得

用做肥料的木灰而焚烧树木。

我沿着这条路不断上行，但还是没

有走出103省道。45度斜坡上的农田里

种着玉米、土豆和芝麻。大多数农舍都是

用红砖搭建的，老旧的泥砖农房也并未消

失，它们高居山坡，但是数量却远远无法

与前者相比。我在路上与两个小伙子擦身

而过，他们将摩托车停在路中央，自己则

蹲在地上抽烟聊天。一个姑娘站着欣赏风

景。我打了声招呼继续往前走，过了几分

钟，其中一个小伙子载着那位浓妆艳抹的

姑娘赶上了我。他问我要去哪里，我说西

藏，接着我向他提问。

他叫王德军，来自奉节，曾经是农

民而现在是农民工。目前他正返乡并送他

的孩子去巫山的一所学校。他妻子也是农

民工，现在在重庆工作。他在巫山的夜总

会把这个姑娘接出来，并带着她去奉节做

“游伴”，他说话时姑娘在一旁听着。

“你喜欢她吗？”他问我，视线瞥

向那姑娘。要在不为难或冒犯她的前提下

回答这问题颇有难度，后者正在专心致志

地研究地面。“如果你喜欢可以把她留下

来。”我拒绝了他的邀请。

“今晚我们一起去巫山吧，”他继续

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

的长子跑出来看我这个外国人。老农民让山谷依然有一半沉浸在雾气中

April 201374

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

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

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”。

TRAVEL JOURNAL

Flowers and MistGraham 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 WushanBy Graham Earnshaw

The region between the Yang-

tze River towns of Wushan and

Fengjie is pretty much equidis-

tant 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 farm-

houses 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 sum-

mer 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 over-

hang 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 rec-

ognized 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 trans-

plants from wild places in China such

as this.

April 2013 75

TRAVEL

The slogans daubed on the farm-

house walls mostly related to fire –

protect the forests, prevent fire - and

were aimed at stopping farmers from

deliberately burning sections of wood-

land 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

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, glanc-

ing 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 Chi-

nese 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 farm-

house 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 rebuild-

ing 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 foreign-

er. 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, pota-

toes 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

April 201376

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。

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上海房产项目 鉴于目前的泡沫和国内房产市场的调控政策，上海房产投资项目的资产溢价预期十分堪忧

相对于高昂的房价，上海房地产的租金收益普遍较低

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

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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 butterf l ies

around, large and small and all color-

ful. 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 good-

ies 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 par-

tially 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 cow-

bells 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 bas-

ket. There were more butterflies with

bright red eyes and long black legs too

drunk on nectar to care about the cam-

era 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.”

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

2013 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

Accounting Firms

Harris Corporate Services Ltd

www.harrissec.com.cn

Shanghai Office

Suite 904, OOCL Plaza,

841 Yan An Zhong Road,

Jing’An,

Shanghai, PRC

Tel: +86 21 6289 8813

Fax:+86 21 6289 8816

info.sh@harrissec.com.cn

Beijing Office

Room 2302, E-Tower, No.12

Guanghua Road, Chaoyang,

Beijing, PRC

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Fax: +86 10 8599 9882

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Room D-E, 11/F, Yueyun Building

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info.gz@harrissec.com.cn

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7/F, Hong Kong Trade Centre

161-167 Des Voeux Road Central

Hong Kong, PRC

Tel: +852 2541 6632

Fax: +852 2541 9339

info@harrissec.com.hk

Business Schools

Shanghai

Fudan University - Washington

University EMBA

www.olin.wustl.edu/shanghai

(English)

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

Room 710, 670 Guoshun Road

Shanghai, China, 200433

Tel: +86 21 5566 4788

Fax: +86 21 6565 4103

Manchester Business School

Part-time Global MBA

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

Starts July 2013, Shanghai

Suite 628, 6/F Shanghai Centre,

1376 Nanjing Road West,

Shanghai

Tel: +86 21 6279 8660

mba@mbs-worldwide.ac.cn

Tongji University SIMBA

A309 Sino-French Center, Tongji

University, 1239 Siping Road

Shanghai, PRC

Tel: +86 21 6598 0610

Fax: +86 21 6598 3540

China Europe Int’l Business

School

(CEIBS) MBA

www.ceibs.edu

Tel: +86 21 2890 5555

Fax: +86 21 2890 5200

admissions@ceibs.edu

Shanghai Jiaotong-Euromed

Management AEMBA Program

(MBA/EMBA)

www.aemba.com.cn

Tel: +86 21 5230 1598

Fax: +86 21 5230 3357

aemba@sjtu.edu.cn

International Schools

Harrow International School

Beijing

LISTING

April 2013 79

www.harrowbeijing.cn

No. 5, 4th Block, Anzhenxili

Chaoyang, Beijing 100029

PRC

Tel: +86 10 6444 8900

Fax: +86 10 6445 3870

agan@harrowbeijing.cn

Saint Paul American School

www.stpaulschool.cn

18 Guan Ao Yuan, Longgang

Road Qinghe, Haidian, Beijing

100192

PRC

Tel: +86 137 1881 0084

spasadmissions@gmail.com

Shanghai

Livingston American School

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580 Ganxi Road

Tel: +86 21 6238 3511

Fax:+86 21 5218 0390

Shanghai Community

International School (Pudong

Campus)

www.scischina.org

800 Xiuyan Road, Kangqiao,

Pudong

Tel: +86 21 5812 9888

Fax:+86 21 5812 9000

British International School

Shanghai - Pudong Campus

www.bisshanghai.com

600 Cambridge Forest New

Town, Lane 2729 Hunan Road,

Pudong

Tel: +86 21 5812 7455

Hotels

Shanghai

Four Seasons Hotel Shanghai

www.fourseasons.com/shanghai

500 Weihai Road, Shanghai

Tel: +86 21 6256 8888

Fax: +86 21 6256 5678

reservations.shg@fourseasons.com

Grand Mercure Hongqiao

Shanghai

www.grandmercurehongqiao.com

369 Xian Xia Road, Chang Ning

Shanghai

Tel: +86 21 5153 3300

Fax: +86 21 5153 3555

reservation@

grandmercurehongqiao-

shanghai.com

HR/Recruitment

Beijing

Beijing Deco Personal Services

Ltd.

china.adecco.com

D 9/F Tower II China Central

Place, 79 Jianguo Road,

Chaoyang, Beijing

Tel: +86 010 5920 4320

Fax: +86 010 5920 4322

beijing.cn@adecco.com

Shanghai

ADP China

www.adpchina.com

30/F Golden Bell Plaza, 98

Huaihai Road Central, Shanghai

Tel: +86 021 2326 7999

Fax: +86 021 2326 7998

Marketing_China@cn.adp.com

Hudson Recruitment (Shanghai)

Co., Ltd.

2302-2303, 2201-2206 Hongyi

International Plaza, 288 Jiujiang

Road, Shanghai

Tel: +86 21 2321 7888

shresume@hudson.com

Language Schools

MandarinKing

www.mandarinking.cn

Shanghai

No.555 West Nanjing Road,

Room 1207 12th Floor, Plaza 555

Shanghai, PRC

Course Inquiry: 400 618 6685

Office Tel: +86 21 6209 1063

Office Tel: +86 21 6209 8671

study@mandarinking.cn

PR Agencies

Ketchum Newscan Public

Relations

www.ketchum.com

Shanghai

218 Tianmu Road West

Tel: +86 21 6353 2288

Fax: +86 21 6353 2276

Beijing

A6, Chaoyangmenwai Avenue

Chaoyang

Tel: +86 10 5907 0055

Fax: +86 10 5907 0188

Ogilvy Group

www.ogilvy.com

Beijing

9/F Huali Building, 58 Jinbao

Street, Dongcheng

Tel: +86 10 8520 6000

Fax: +86 10 8520 6060

Real Estate/Serviced Apartments

Savills Residence Century Park

www.savillsresidence.com

No. 1703, Lane 1883, Huamu

Road Pudong, Shanghai 201303,

PRC

Tel: +86 21 5197 6688

info@savillsresidence.com

Park View Apartment

wwww.parkview-sh.com

Block 1-4, No. 888

Changning Road

Shanghai, 200042

Tel: +86 21 5241 8028

leasing@parkview-sh.com

Belvedere Service Apartments

www.belvedere.com.cn

Belvedere Service Apartments

833 Changning Road, Shanghai

200050

Tel: +86 21 6213 2222

Fax: +86 21 6251 0000

leasing@belvedere.com.cn

Lanson Place Central Park

Residences

enquiry.lpcp@lansonplace.com

Tower 23, Central Park

No. 6 Chaoyangmenwai Avenue

Chaoyang, Beijing 100020

Tel: +86 10 8588 9588

Fax: +86 10 8588 9599

Shanghai

Lanson Place Jin Qiao Serviced

Residences

enquiry.lpjq@lansonplace.com

No. 27 & 28, Lane 399 Zao Zhuang

Road, Pudong, Shanghai 200136

PRC

Tel: +86 21 5013 3888

Fax: +86 21 5013 3666

Real Estate/Business Park

Sandhill Plaza

www.sandhillplaza.cn

2290 Zuchongzhi Rd, Zhangjiang

Hi-Tech Park, Shanghai 201303

Tel: +86 21 6075 2555

Leasing@sandhill.cn

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

LISTING

April 201380

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

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

Tel: +86 10 5905 5905

The Executive Centre

Shanghai

International Finance Centre

Level 8, International Finance

Center, 8 Century Avenue,

Pudong

CITIC Square

Level 35, CITIC Square, 1168

Nanjing West Road, Jing’an

Xintiandi

Level 5, Xintiandi, 159 Madang

Road, Luwan

The Centre

Level 20,The Centre, 989

Changle Road, Xuhui

Chong Hing Finance Centre

Level 12, Chonghing Finance

Centre, 288 Nanjing West Road,

Huangpu

Tel: +86 21 6062 7183

Shanghai@executivecentre.com

BEIJING (12 LOCATIONS)

Regus China World Tower 3

15/F China World Tower 3,

1 Jianguomenwai Avenue

Chaoyang District

CHENDU (3 LOCATIONS)

Regus Yanlord Landmark

36/F, Yanlord Landmark Office

Tower

No.1, Section 2, Renmin South

Road

Jinjiang District

CHONGQING

Regus Yangtze River

International Plaza

33/F Yangtze River International

Plaza

22 Nanbin Road

Nanan District

DALIAN

Regus Dalian World Trade

Center

12/F, 25 Tongxing Street

Zhongshan District

GUANGZHOU (5 LOCATIONS)

Regus G.T. Land Plaza (NEW)

12/F, Tower A, Phase 1

G.T. Land Plaza, No. 85

Huacheng Avenue

Tian He District

HANGZHOU (4 LOCATIONS)

Regus Euro American Centre

4/F Euro America Center

18 Jiaogong Road, Xihu District

NANJING

Regus Jinling Hotel Asia Pacific

Tower (COMING SOON)

8 F, Jinling Hotel Asia Pacific Tower,

No. 2, Hanzhong Road,

Gulou District

SHANGHAI (21 LOCATIONS)

Regus Plaza 66

15/F, Tower 2, Plaza 66,

No.1266, West Nanjing Road,

Jing’an District

Regus One Corporate Avenue

15/F One Corporate Avenue

222 Hubin Road

Luwan District

Regus Jin Mao Tower

31/F Jin Mao Tower

88 Shiji Avenue

Lujiazui, Pudong

Regus One Prime

25 F, One Prime

No. 360, Wu Jin Road,

Hongkou District,

SHENZHEN (5 LOCATIONS)

Regus Futian NEO

44/F, NEO Tower A

6011 Shennan Avenue

Futian District

Regus New World Centre (NEW)

23/F, New World Center,

No. 6009, Yitian Road,

Futian District

SUZHOU

Regus Suzhou JinHope plaza

(COMING SOON)

11/F, Tower2, Jin Hope Plaza

88 Hua Chi Street, SIP

TIANJIN (2 LOCATIONS)

Regus Tianjin Centre

8/F Tianjin Centre

No.219 Nanjing Road

Heping District

WUHAN

Regus Wuhan Tiandi –

Corporate Centre 5

8F, Wuhan Tiandi – Corporate

Center 5,

No. 1628 Zhong Shan Avenue,

Jiang’an District

Apollo Business Center

Apollo Huaihai Center [New]

4/F, Fuxing Commercial Building

139 Ruijin Road (No.1)

Huangpu

Shanghai

Tel: 021-6136-6088

Apollo Flagship Center

Apollo Building

1440 Yan’an Road (M)

Jing’an

Shanghai

Tel: 021-6133-1888

Apollo Tomson Center

22/F, Tomson Commercial Building

710 Dongfang Road

Pudong

Shanghai

Tel: 021-6165-2288

Apollo Xuhui Center

16/F, Feidiao International

Building

1065 Zhaojiabang Road

Xuhui

Shanghai

Tel: 021-5158-1688

Apollo Hongqiao Center

26/F, New Town Center Building

83 Loushanguan Road

Changning

Shanghai

Tel: 021-3133-2688

To have your company

featured in these pages,

please contact our

representatives at

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

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