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Thanks to the fast economic development, China luxury market has undergone a rapid expansion and gradually became the most potential emerging market. It is reported that with the annual growth of more than 10%, China will surpass America and Europe to become the 2nd largest luxury market, only next to Japan. As China is now the most important strategic market in the global business development, it's already the hottest debated topic how to exploit and strengthen the development in China. However, for most international luxury brands, the complexity and intricacy of china luxury market has far beyond their imagination. Vast territory, large population, cultural diversities, especially the propagandizing of the traditional Chinese virtue of being frugal contributes to the particularity of China luxury market. Therefore how to promptly adapt to the special characteristics and build the retail channel of high efficiency have become the key to the success for the luxury brands. China Decision Makers Consultancy (CDMC), striving to accelerate the development of the china luxury industry, organized the 1st annual China Luxury Summit together with ESSEC MBA in International Luxury Brand Management in 2005. Till now the 3rd annual China luxury Summit has become the highest level event in Asia. Through the diversified formats of keynote speech, panel discussion, mini-lecture, cases study as well as workshop, all the speakers and delegates gained in-depth insight into the topics including brand extension, luxury online, X factor in creating Chinese luxury brand. China Luxury Summit serves as an incomparable platform of networking and learning from each other.  Asian Markets vs. China Focus: on Asia Gas Congress 2007 Beijing, China, Nov.7th, 2007 Asia Gas Congress 2007 (AGC), the flagship gas event in Asia, previously known as China Gas Summit 2005 & 2006, will run from 7th to 9th Nov. at the Hotel Nikko New Century Beijing. Exclusively dedicated to the whole gas value chain ranging from supply demand dynamics, LNG infrastructure, shipping & shipbuilding and downstream utilization, AGC has managed to attract a wide range of attendance from more than 120 diversified companies across around 25 countries. 2007 witnesses an intensive climate in gas markets – the birth of a new cartel “gas OPEC” making total sense for major gas producers in terms of a swift counterpunch to the West's economic might finally got aborted due to customer countries' resistance yet other gas exporters ‘reluctance to join. Gas is still traded very differently to oil, with long-term contracts – often linked to oil price. Analysts say gas supply security will remain constraint in the coming years facing Asian buyers due to the mismatch between regasification facilities and liquefaction development schedule. Meanwhile, in the next decade, the ratio of LNG to the whole gas markets will keep rising and the rise rate in Asia, where LNG market has accounted for 67% in the global markets, will rank first for its booming economics and increasing environmental concerns despite the expensive price of LNG compared with other competitive fuels. Learning from the past, China finally declared its gas pricing system will turn to be in line with alternative clean fuels in the National Eleventh Five-Year Plan, meaning approximate10% hike in wholesale gas price per year expected in the near future. According to the expert from CPPEI, PetroChina, “the gas supply and demand gap in China will reach to 52 to 60 bcm by 2010, to 70 to 80 bcm by 2015; the LNG import will arrived at 30 to 50 bcm”. Subsequently two large deals were done in September – frame LNG SPAs separately with Shell's Gorgon Project in Perth and the Woodside's Browse Project which could be the largest independent export deal in Australia with total AUD35billion trade amount expected. Previously CNPC also negotiated a 25 year LNG SPA with Iran and it will be effective in 2011. “We pay much attention to China market, especially to the gas demand forecast here”, expressed Ali Khayrandish, the Managing Director of Iran LNG, also one of the speakers for AGC; as the second largest gas reserve country in the world, Iran has been an export negotiation center though some politics related issues are concerned. Not only China, however, confirmed Nuttachat Charuchinda, the VP of PTT from Thailand, they will start to import LNG to its Rayong terminal in 2011. Additionally, the first LNG terminal in Singapore will be ready in 2012 with 3 million tons production a year; India's first LNG terminal started operations in 2001 and 10 more are planned; Catalyzed by China's energy plan, the three giants, CNPC, Sinopec and CNOOC aim to build more than 10 LNG terminals at the eastern coast in the near 5 to 10 years, currently with 3 securing supplies and 1 in operation. Facing the supply and demand dilemma and the production drop of two main gas producers in Asia; Asian buyers have to look into world elsewhere to obtain LNG supplies at a higher price. Under such situation, spot trading starts to play an active role as an effective LNG supplement. Following Japan and Korea, China imported its first spot LNG cargo at the Dapeng LNG Terminal in Shenzhen. This cargo was purchased from Mitsubishi Corporation, originally came from Qalhat LNG in Oman. The contract was signed by Wu Zhenfang, the VP of CNOOC and the Chairman of GDLNG, "This cargo purchase is a significant step in executing China's LNG strategy. We will continue to seek new term supply supplemented by spot trading to meet strong demand for clean energy in the Pearl River Delta." commented Mr. Wu. In 1998 spot trading accounted for 3% in the whole LNG markets; more buyers inclined to replace the 20-year term supply tradition set by Japanese buyers with spot trading to shield the price risk. It is believed spot trading will count for a major part for LNG import in many Asian countries in the future. AGC provides exclusive opportunities for its attendees to interact with 14 seniors from the GDLNG management in Dapeng LNG site tour, discussing the future of LNG markets, facilities and spot trading. Highlighted by the news that China will deliver its first built LNG carrier in November, AGC have a dedicated stream focusing on LNG shipping & shipbuilding. To catch up its LNG import demand and meet the trend of state-of-the-art shipbuilding technology, China is emerging as a new LNG shipbuilder and its demand for LNGC is expected at 15 to 20 by 2010. “China's first LNG carrier will mark another milestone for its LNG industry, indicating China has raced into the competition of LNG shipbuilding market.” said Yan Weiping, General Manager of China LNG Shipping (Holding) Company. The first carrier (No. 96 membrane), with 147,000 cubic meters of LNG storage capacity, is built by Hudong Zhonghua Shipyards, serving GDLNG project. Meanwhile, other Chinese shipbuilders including Jiangnan Shipyards, Dalian New Shipyards and Nantong COSCO KHL Ship Engineering have all plugged into this booming and high value added industry. During the AGC, Strategic issue of competition landscape with the emergence of China as a LNG shipbuilder will be discussed and new vessels building programs on track will be reviewed; technological advancements like future propulsion system, improved membrane containment system, ice-breaking LNG carriers and CNG carriers will be debated to shed light on the future LNG shipbuilding industry. Main speakers will be the seniors from China State Shipbuilding Corporation (CSSC), China LNG Shipping Holdings, LNG Shipping Solutions, Mitsui O.S.K. Lines, Ltd, Aker Yards LNG Unit and Gaztransport & Technigaz (GTT), etc. Asia Gas Congress 2007, building on the huge success in the past two years, has grown into an unparallel platform for industry elite gathering, networking and developing contracts, signing deals and finding potential partnerships by bringing together both of the buyer and suppliers and expecting about 500 participants this year, which ensure it another milestone in the Asian gas calendar. For further information, please refer to event website www.asiagascongress.com |
