China Watch Blog

China Watch Blog has learnt that economic experts at an economic forum in Chengdu say that small medium sized enterprises (SMEs) are facing “severe survival predicaments this year” impacted drastically by difficulties in obtaining financing, rising costs and labour shortages.

SMEs contribute a lot to the employment rate and national economic development, Gu Shengzu, a member of the National People’s Congress Standing Committee, was quoted as saying in a China Daily report. He called for attention to the severe difficulties facing SMEs in 2011.

“About 60 to 70 percent of China’s SMEs face adverse conditions,” said Gu.

A survey showed that 20 percent of SMEs have stopped production, gone out of business or closed down in the city of Wenzhou in eastern China’s Zhejiang province, Gu said.

“If that keeps happening, plenty of small and medium-sized enterprises are likely to go bankrupt, leading to certain unemployment,” said Tang Min, an official with the People’s Bank of China (PBOC), China’s central bank.

Meanwhile, experts called on the government to help these enterprises eliminate difficult conditions and step into the transformation and upgrade stage. Due to the tightened monetary policy, small- and medium-sized enterprises have found it difficult to get loans from banks, turning instead to private loans for help.

“Around 90 percent of China’s SMEs rely on private financing systems, making it very popular,” said Gu.

However, Gu warned that enterprises should understand some potential financial risks brought about by possible disputes over private loans.

China Watch Blog has learnt that Juliens Auction is holding a “Legends” exhibition of its exhibits in China this month.

It is holding its first exhibition at the Beijing New World Department Store, at No. 3 Chong Wen Men Wai Da Jie, Chongwen District, Beijing, between September 8th – September 11th.

The exhibition will then move to Shanghai, where the event will be held at the Shanghai-Hong Kong New World Department Store – Baoshan Branch Store, at No. 888 Zhenhua Road, Boashan District, Shanghai, between September 15th – September 18th.

Its third stop will be at the Tianjin New World Department Store, at No. 138 Dongma Road, Nakai District, Tianjin. The exhibition will be held between September 22nd – September 25th.

Between September 29th – October 2nd, the exhibition will be held in Shenyang, at the Shenyang New World Department Store – Zhonghua Road Branch Store, at No. 88 Zhonghua Road, Heping District, Shenyang, Liaoning.

It will then proceed to Harbin, to hold the exhibition at Harbin New World Department Store, at No. 403 Huayuan Street, Nangang District, Harbin, Heilongjiang, between October 6th – October 9th, before moving on to Macao to hold the auction on October 22.

China Watch Blog has learnt that Julien’s Auctions, the world’s premier entertainment auction house, is to return to the former Portuguese enclave of Macao, to hold its 2nd annual Legends Auction on October 22, 2011 at Ponte 16, a world-class entertainment resort.

For the uninitiated, the Legends Auction will offer in Session I: Lots 1 – 276 and in Session II: Lots 277 – 517.

Legends Auction will hold an exhibition of all the exhibits which will come under the hammer at Ponte 16 Resort, Macau, address: ANDAR 4, Rua das Lorchas e Rua do Visconde Paҫo de Arcos, entre Pontes 12A a 20, Macao. Prior to the event, the exhibits will be displayed between October 13 till October 22. Prior to that it will hold a series of exhibition in various cities in China.

Legends Auction returns with a showcase of film and music memorabilia from some of the world’s most admired superstars including legendary film icon Marilyn Monroe and the King of Pop, Michael Jackson.

Other iconic pieces to be offered include personal effects from Elvis Presley, The Beatles, Madonna, Her Royal Highness, Diana Princess of Wales and many others, to allow die-hard fans of these legendary figures to vet their appetite and snap up these rare pieces that adorned their idols in the past.

Marilyn Monroe seduced on-screen and film going audiences with her performance as Kay Weston in River of No Return. Monroe conjured a saloon hall vixen to perform “I’m Gonna Stake My Claim.” The provocative green gown she wore during this song and dance routine is offered for sale along with Monroe’s personal phone book, pearl necklace, medical prescription orders and a rare painting created by the iconic actress.

In 1985, Her Royal Highness Diana, Princess of Wales, was honored by the Worshipful Company of Fan Makers. Diana wore a stunning gown of white taffeta and black velvet designed by Murray Arbeid, and this will also be offered in the Legends auction. This gown was previously auctioned at the “Dresses from The Collection of Diana, Princess of Wales” charity auction shortly before her tragic death. The gown returns to the auction block as one of the few Diana dresses made available for public sale.

In 1987 Bernardo Bertolucci’s The Last Emperor won nine Academy Awards including Best Picture and Best Costume Design. A selection of these award winning costumes are offered for sale. The intricate costume pieces, some comprised of textiles that are over 100 years old, and are works of art in their own right.

In the tradition of period films examining the relationships of Eastern and Western cultures, Julien’s offers ten costumes from the film The Last Samurai. An impressive riding costume worn by the character Ujio as he rides into battle includes full body costume armor and stunt swords as seen in the film. Battle costumes, stunt weaponry and ninja attire from the film are also offered for sale.

Science Fiction heroes and villains also share the spotlight in this very special auction. The third incarnation of Batman in Batman & Robin pitted George Clooney’s Batman against Arnold Schwarzenegger’s evil Dr. Freeze. For the villainous, The Batman Return’s Red Triangle gang costumes, Neon Circus costumes and Jim Carrey’s Riddler bodysuit will be sold. Also to be offered are costumes from Dennis Hopper’s portrayal of Deacon in Waterworld, Alfred Molina’s wayward tentacle as Doctor Octopus from Spiderman 2 and a nefarious Thuggee costume from Indiana Jones and the Temple of Doom blockbuster.

Julien’s Auctions will also offer an extraordinary opportunity to own some very special pieces that pay tribute to Elvis Presley.