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David Wei
Since October 2007, chief executive officer and executive director of Alibaba.com;
From November 2006 to September 2007, president of Alibaba.com and executive vice president of Alibaba Group;
From 2002 to 2006, president of B&Q China, a subsidiary of King
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The Giant Panda was introduced to the west in 1869, or 140 years ago, by Pere Jean Pierre Armand David,a French Catholic missionary. The missionary took photographs of the black and white bear which was shot by hunters in Ya'an, Sichuan province. To celebrate the anniversary and to bring attention to the endangered animal’s need for protection, panda enthusiasts will go on a 350 kilometre hike on Aug. 15 from the Sichuan capital Chengdu to Ya'an to follow in the footsteps of the Catholic missionary. There are about 1,590 pandas living in the wild around China, mostly in Sichuan and the northern Shaanxi and northwestern Gansu provinces. A total of 180 have being bred in captivity, according to a Xinhua report.
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| Collaring A Flourishing Pet Care Market |
Although the economic downturn has brought financial disaster to some venture capitalists, one investment fund for a Chinese website catering to pet lovers has raised more than $10 million. The fund, managed by a cooperative that include International Data Group, SoftBank and Alibaba Group, help Aigou.com ( which mean "love dogs" in Chinese) to become China's pet website with the highest number of registered users.The site was established in 2006 and it is said that the investors plan to ramp up promotion of Aigou.com within a few years as the pet industry in China looks poised for a continued upswing. Chinese consumers spent 5.73 billion yuan on pet food and pet-care products in 2008, a 6.9 percent increase over the previous year, according to Euromonitor International. The global market research and consulting company predicted the market will rise 5.6 percent in 2009, to 6.05 billion yuan. Although the growth rate this year is a slight decline over last year's rate, China's consumers remain loyal to their pets and the market. There are about 100 million pets across the country, and that number is expected to rise, according to Nestle SA, a major manufacturer of pet food. The ongoing changes in lifestyle trend is helping the sellers of pet food and pet-care products, especially international corporations, to continue their development in China and buck economic trends; while many consumers are trading down to less-expensive goods for themselves to save money, they refuse to pinch pennies as they lavish their attentions on Buddy and Fifi. As a result, premium products are seeing sales increases. On the other hand, the rise in smaller households, particularly the single-person households and dual-income, no-kids - or so-called DINK - families, has increased the demand for pets. Attitudes toward pets have changed.Ina growing numbe of households, they are regarded more as family members than as working animals, especially among young urban residents who are able and willing to indulge their pets with premium food and other products. According to the China Small Animal Protection Association, annual spending per pet in China was about 3,000 yuan on average in 2008. The expenditure was more than 6,000 yuan per pet in five key cities - Beijing, Shanghai, Guangzhou, Chongqing and Wuhan, that are the hubs of single-person and DINK households. In Beijing alone, spending on pets exceeded 2 billion yuan last year. The US-based Mars Inc and Switzerland-based Nestle SA held 21 percent and 6.8 percent of China's pet food and care products market last year, respectively according to a Eudomonitor survey. |





Although the economic downturn has brought financial disaster to some venture capitalists, one investment fund for a Chinese website catering to pet lovers has raised more than $10 million. The fund, managed by a cooperative that include International Data Group, SoftBank and Alibaba Group, help Aigou.com ( which mean "love dogs" in Chinese) to become China's pet website with the highest number of registered users.
