Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. Earth Science News .




POLITICAL ECONOMY
New fronts open in Chinese art market as records fall
by Staff Writers
Beijing (AFP) Oct 11, 2013


Foxconn admits to intern labour violations in China
Taipei (AFP) Oct 11, 2013 - Taiwan's Foxconn, which assembles products for Apple, Sony and other major tech firms, has admitted some of its student interns worked night shifts and overtime in violation of company policy in its Chinese facility.

"In the case of recent allegations regarding the internship programme at our Yantai campus, we have conducted an internal investigation and have determined that there have been a few instances where our policies pertaining to overtime and night shift work were not enforced," Foxconn said.

The statement -- issued late Thursday -- came after several Chinese media outlets reported that an information engineering university in central Chinese city of Xian allegedly forced students to join the Foxconn internship programme in Yantai, Shandong province, in order to graduate.

The Oriental Morning Post quoted some students as saying that they were assigned to assembly lines to make Sony's PlayStation game consoles instead of doing any work relating to their major and were sometimes forced to work 11 hours a day.

When some students wanted to drop out mid-way, they were told that they would lose their internship credits and would be unable to get their diplomas, the report said.

Foxconn said it had taken immediate action "to bring that campus into full compliance with our code and policies".

They company said it would reinforce its policy of no overtime and no night shifts for student interns, and would remind interns of their right to end their participation in the programme at any time.

Foxconn, the trade name for Taiwan-based Hon Hai Precision Industry Co., is the world's largest contract electronics maker and assembles products for Apple, Sony and Nokia, among others, in huge plants in China where it employs more than one million workers.

The company has come under the spotlight after suicides and labour unrest at its Chinese plants in recent years.

In 2010, at least 13 Foxconn employees in China died in apparent suicides, which activists blamed on tough working conditions, prompting calls for better treatment of staff.

Although Foxconn denied the accusations, it raised wages by nearly 70 percent at its China plants in 2010.

Auction houses have sold $700 million-worth of artwork in recent days in Hong Kong and set a series of world records, as Asia's art market heats up anew and competition mounts between Chinese and foreign firms.

Western giants Christie's and Sotheby's are increasingly focused on China but barred from selling the hottest item -- antiques -- by laws aimed at protecting cultural heritage.

Meanwhile Chinese rivals Poly and Guardian have seen tremendous growth thanks to their greater freedom to act within the country, and their political ties.

And now they are seeking to challenge foreign competitors outside the mainland.

So far they have been encroaching on Western art traders' turf in Hong Kong, the former British colony turned semi-autonomous Chinese city.

They held their most ambitious sales in Hong Kong so far last week, timed to capture an influx of well-heeled Chinese during a week-long national holiday.

Still, Sotheby's, which is marking its 40th year in Asia, managed to hold on to the lion's share of the market -- and the headlines -- with some exceptional items.

A white diamond sold for $30 million, breaking a world record; a Zeng Fanzhi painting that went for $23 million set a new record for a contemporary Chinese artist; and a gilt bronze Sakyamuni Buddha did the same for Chinese statues, selling at $30 million.

The figures represent regained momentum for the Chinese art market after an unexpected contraction last year, when New York reclaimed its place from Beijing as the world's lead city for art sales.

China still led global arts and collectibles auction revenue in 2012, according to the French Conseil des Ventes Volontaires.

Auction houses have been ramping up their pursuit of China's burgeoning millionaire class.

"Their first priority is to gain direct access to the wealth of the mainland Chinese, much of which wealth is contained within the borders of the country," said Nancy Murphy, a lawyer and expert on the Chinese art market.

"Right now, the vast majority of Chinese art money is chasing only Chinese art; Western art dealers are very, very interested in working to expand that demand, and bringing more Western art physically into China is an excellent first step."

"China is in buying mode"

London-based Spink and Son, founded in 1666, recently moved its president to Hong Kong, to "further galvanise Spink's thriving Asia business", it said in a statement.

After years of waiting, in late September Christie's held its first auction in mainland China in the commercial hub Shanghai.

Sotheby's will hold its second in December in Beijing, with a feature piece from French-Chinese artist Zao Wou-Ki, who died in April.

But Meg Maggio, an American gallery owner with 20 years' experience in China, believes Western firms will not flourish on the mainland -- and at best they might attract more buyers to New York, London and Paris.

"They have to come because what else can they do? They've basically lost their dominance in Hong Kong," she said.

"I think their growth will be minimal."

She said the art market is "primarily" older items -- where Chinese law gives domestic companies a huge advantage.

They also benefit from important political connections.

Poly Auction, the third largest house in the world, belongs to a state-owned conglomerate controlled by the army and headed by the son-in-law of China's former leader Deng Xiaoping.

Chen Dongsheng, cofounder of Guardian, the world's fifth largest auction firm, is married to the granddaughter of the late leader Mao Zedong.

The director general of Poly Auction, Zhao Xu, has been quoted in Chinese media as saying the arrival of foreign firms did not worry him, given the legal framework.

It is unclear if Beijing will ever lift the prohibitions on foreign auction houses, although Murphy expects they will gradually ease, allowing healthier competition.

Meanwhile Chinese firms trying to make inroads outside their country may enjoy swifter success.

With a huge publicity drive they have sought to convince Western collectors to buy and sell through them, and Poly has opened an office in New York.

"China is definitely in buying mode," Maggio said. "The Europeans and other people are more in the selling mode."

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
Kerry seeks to reassure Asian leaders over US default
Bandar Seri Begawan, Brunei (AFP) Oct 10, 2013
US Secretary of State John Kerry tried Thursday to reassure Asian leaders that Washington would end its political stalemate, after China voiced concern about a possible US debt default. The spectre of a calamitous default emerged as a major issue at an annual Asian summit in Brunei, held in the absence of President Barack Obama after he was forced to stay home due to the US government shutdo ... read more


POLITICAL ECONOMY
Smart smoke alarm can speak, warn of smoke, carbon monoxide

European satellites included in test of search-and-rescue system

Indonesia to boost patrols against people smugglers

'Ship in a bottle' detects dangerous vapors

POLITICAL ECONOMY
Ultraviolet light to the extreme

Quantum computers: Trust is good, proof is better

Ultrasound system gives virtual feeling of objects in mid-air

Himawari and Mitsubishi Electric Complete Facilities For Weather Satellite Ops

POLITICAL ECONOMY
Fishermen, farmers secure livelihoods ahead of Indian cyclone

More than 500 million people might face increasing water scarcity

University teams with industry to build deep-sea submersible

Improving water security with blue, green, and gray water

POLITICAL ECONOMY
Brazil to start work on new Antarctic base next year

US shutdown puts freeze on Antarctic research

Giant channels discovered beneath Antarctic ice shelf

Government shutdown threatens U.S. antarctic research

POLITICAL ECONOMY
Rural land use policies curb wildfire risks - to a point

New potential for nutrient-rich prairie fruits

European retailers embrace crooked fruit, ugly veggies

Google Street View is new arm against alien species

POLITICAL ECONOMY
Strong quake strikes near Crete, material damage reported

Quake hits southwest Pakistan: officials

13 dead, millions without power as typhoon hits Philippines

Extrusive volcanism formed the Hawaiian Islands

POLITICAL ECONOMY
Islamists step up attacks in north Mali

Ethiopia says no plans to withdraw troops from Somalia

'Armed bandits' kill Niger soldier, wound three others in Nigeria: official

Nigeria bombs Boko Haram 'camp' near site of massacre

POLITICAL ECONOMY
Primate brains follow predictable development pattern

Longer life for humans linked to further loss of endangered species

Council of Europe attacks genetic procedure

Ancient sagas show Vikings more social, less warlike




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement