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    China Logistics Sector

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    Industrials / China 16 December 2013 Initiation: ready to move up in the world China Logistics Sector • We see the development of China’s logistics industry in the next decade following the path established by the US‚ Japan and Korea • Given a growing need for cost savings‚ emerging 3PL services and a demand boost from e-commerce should be major sector drivers • Positive rating; top pick Sinotrans; also recommend SZI‚ CIMC See important disclosures‚ including any required research

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    Huawei Annual Report 2013 EN

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    Huawei Investment & Holding Co.‚ Ltd. 2013 Annual Report Contents Letter from the CEO 2 Letter from the Rotating and Acting CEO 10 Business Highlights in 2013 14 Five-Year Financial Highlights 15 Letter from the Chairwoman 16 Core Values 20 Management Discussion and Analysis 21 Industry Trends 49 Independent Auditor’s Report 54 Consolidated Financial Statements Summary and Notes 55 Risk Factors 106 Corporate Governance Report 108 Sustainable Development 129 Abbreviations

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    Instructor’s Manual International Marketing and Export Management Sixth edition Gerald Albaum Edwin Duerr For further instructor material please visit: www.pearsoned.co.uk/albaum ISBN: 978-0-273-71390-6  Pearson Education Limited 2008 Lecturers adopting the main text are permitted to download and photocopy the manual as required. Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies around the world Visit us on the World Wide Web at:

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