The Weekly News Update is a weekly roundup of business news from around the Asia-Pacific region, covering Fusion Consulting's core industry practices: chemicals, consumer & retail, financial services, industrial & logistics, information & communication technology, life science and media & leisure. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.       Merging with the Mainland: China's M&A opportunities   M&A activity in China continues to surge, thanks to strong economic growth and  private equity activity. With regulatory changes in 2006, several sectors should see  further M&A action in 2007 and beyond. Find out where the opportunities lie.

Financial services

Korea - Putting more smart card readers Source: The Electronic Times (Korea), 24 April 2008 The Financial Supervisory Service (FSS) in Korea is serious about encouraging more shops to use smart card reader. As of last year, distribution rate of smart card reader was just 9.7%, while that of smart card user was 78%. Many people have criticized that they cannot use chip card under the current situation. According to relevant authorities and the card industry, the FSS have issued public statement, asking card companies to make new franchise dealers install smart card readers. In the statement, FSS expressed its intention to legislate the action. Korea - Seoul, Beijing, Tokyo eye joint ATM network Source: Korea Times, 24 April 2008 South Korea has proposed to China and Japan the setting up of a joint electronic payment system controlling cash machines in their respective countries to enable travelers to withdraw cash at minimum costs from any machine. Currently, Koreans use Visa or Master cards to withdraw cash in Tokyo and Beijing, and it is the same for Japanese and Chinese travelers in Korea. They pay high fees for using currency exchange services and the card firms' international network. Credit card spending by South Koreans in overseas countries soared to a new high of US$6.4 billion in 2007. The number of outbound travelers increased 14.8% from a year ago to 13.3 million, which was twice the number of inbound travelers at 6.4 million. Most foreign tourists paid for goods and services in cash last year, rather than with credit cards, because of the won's appreciation against major currencies. Indonesia - Banking lending still grows amidst economic slowdown Source: Bisnis Indonesia, 29 April 2008 The lending of several banks in the first quarter of 2008 was able to keep growing amidst global economic slowdown. On the other hand, the banking industry's net profit growth was not as stellar. Some banks even had to lose money on increasing provision and promotional costs. These are reflected in the exposes of the first quarter of 2008's performances by Bank Mandiri, Bank Negara Indonesia, Bank Niaga, Bank Central Asia, and Bank UOB Buana. Mandiri's lending grew by 18.6% to IDR135.5 trillion (US$14.5 billion) from IDR114.3 trillion (US$12.2 billion) in the first quarter of 2007. The lending growth was supported by soaring SME (small and medium enterprises) credit by 48.6% to IDR19.6 trillion (US$2.1 billion) and the increase in consumer banking by 39.3% to IDR10 trillion (US$1.1 billion).     View an example of our experience in this industry. Back to list of articles.  Visit our website to sign up for free intelligence on Asian markets.

This Weekly News Update is a free newsletter, providing a round-up of the week's Asia-Pacific news from our core industry practices. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.

Fusion Consulting is a business intelligence consultancy providing clear strategic advice on Asia-Pacific markets. With offices in Shanghai, Singapore and Hong Kong and 400 industry consultants in 16 countries, we conduct custom research and consulting to help companies understand their markets, compete more effectively and grow into new areas of opportunity. Email more@fusionc.com or visit www.fusionc.com for more information.