:00:48. > :00:51.We take a look at the growing media as a corporate marketing tool.
:00:51. > :00:54.Welcome. Tyne and Japan have negotiated a
:00:54. > :01:00.deal that could edge out the dollar and create an important currency
:01:00. > :01:03.bloc in the region. -- China. Our correspondent is in Singapore and
:01:04. > :01:10.has been following the story. It is important given the tensions
:01:10. > :01:16.between the US and China. There are accusations over in manipulation to
:01:16. > :01:26.China's advantage. Indeed. As you say, this perhaps
:01:26. > :01:29.
:01:29. > :01:33.could be a way to try to step away from this. Japan and China have
:01:33. > :01:37.promoted direct exchange of their currencies to mainly cut costs for
:01:37. > :01:42.companies and boost bilateral trade. It has benefits for both countries.
:01:42. > :01:47.This came about on the sidelines of Prime Minister Yoshihiko Noda trip
:01:47. > :01:52.to Beijing on Sunday. It is his first official trip since he came
:01:52. > :01:55.to power and he held talks with President Hu Jia and how after
:01:55. > :02:01.meeting his counterpart. This deal is significant because it will
:02:01. > :02:05.allow firms to convert the Chinese and Japanese currency's directly
:02:05. > :02:11.into each other. Currently, businesses need to buy US dollars
:02:11. > :02:16.before converting them into the desired currency. That adds to
:02:16. > :02:22.their cost. All of it, as you suggest, is part of the latest step
:02:22. > :02:32.as it looks to become a more global role for its currency - the Chinese
:02:32. > :02:38.
:02:38. > :02:42.you -- yuan. Trade between the two countries was about $340 million in
:02:42. > :02:52.2010. The two countries have allowed Japan to the issue bonds in
:02:52. > :02:54.
:02:54. > :03:04.China, yuan denominated. Japan will look to buy Chinese government
:03:04. > :03:04.
:03:04. > :03:12.bonds. This may prove to be beneficial to both nations. And it
:03:12. > :03:17.moves away from reliance on the US dollar. They say they have made
:03:17. > :03:20.progress on the trade agreements. For we will follow those stories
:03:20. > :03:26.Deraa the day. Now for a look at the financial
:03:26. > :03:30.markets. -- we will. No activity on markets. -- we will. No activity on
:03:30. > :03:37.the European markets but some in the Far East. What has been
:03:37. > :03:43.happening? Essentially, the only two markets
:03:43. > :03:47.that are open are the Nikkei and one in Korea. Fairly quiet due to
:03:47. > :03:52.the holiday. The Nikkei has been rising, thanks to the reports we
:03:52. > :03:57.rising, thanks to the reports we saw on Friday. More optimistic US
:03:57. > :03:59.data. New home sales gaining ground. That is boosting the earnings
:03:59. > :04:05.outlook for Asian companies that export a lot of their products to
:04:05. > :04:10.the US. And the US economy is improving more than expected which
:04:10. > :04:13.could provide something of a boost to sentiment in Asia in the new
:04:13. > :04:18.year. Thank you for now.
:04:18. > :04:22.There has been much talk this year of China coming to their aid of
:04:22. > :04:26.Europe's struggling economies. One sign is the growing number of
:04:26. > :04:30.tourists contributing to the UK economy. It is no doubt the
:04:30. > :04:40.visitors from China are increasing, rising by about one quarter in this
:04:40. > :04:41.
:04:41. > :04:45.year alone. But how much does UK companies benefit from the tourism?
:04:45. > :04:50.The British high street is gearing up to be a shopping destination for
:04:50. > :04:55.the Chinese. Some major stores are now accepted Chinese credit cards.
:04:55. > :05:00.Because for many tourists, shopping for brands is firmly on the
:05:00. > :05:09.itinerary. What did you buy? Burberry. It is very cheap. Cheaper
:05:09. > :05:14.than in China. Body Shop and Holland and Barrett.
:05:14. > :05:21.But tourism in the China -- from China is still small compared to
:05:21. > :05:25.the 3.8 million French tourists. So why are British businesses so keen
:05:26. > :05:32.to attract Chinese tourists? Is it because they are such big spenders?
:05:32. > :05:35.According to figures, the average Chinese tourist spent around �1,700
:05:35. > :05:40.here. That is more than three times the amount spent by the average
:05:40. > :05:48.international visitor. Chinese people would expect to sit at a
:05:48. > :05:53.round table and get 15-20 dishes also. This doctor is a Fellow in
:05:53. > :05:57.Chinese subjects at Oxford University. His research shows tiny
:05:57. > :06:03.society has developed a particular type of consumer. Many people have
:06:03. > :06:08.a lot of disposable income. If you only have one child, that means you
:06:08. > :06:16.have four grandparents, two parents, all lavishing money on you. So the
:06:16. > :06:20.average age of the biggest consumer is lower than other parts of the
:06:20. > :06:23.world. So the UK needs to figure out what time is people like and
:06:23. > :06:28.rearrange their business accordingly. This restaurant in
:06:28. > :06:33.Oxford seems to be doing just that. Staff serve more Chinese shoppers
:06:33. > :06:41.than British customers, many coming from the nearby designer village.
:06:41. > :06:45.Lots of the customers show me what they buy. The famous brands.
:06:45. > :06:50.Britain's trade agreement means international visitors need another
:06:50. > :06:54.visa to enter the UK. That limits numbers coming here. The visa
:06:54. > :07:01.restriction is certainly a concern and the capacity of the airlines is
:07:01. > :07:07.another issue. They need to have the capacity of something like the
:07:07. > :07:11.French and German carrier's. 2020, it is expected the UK will
:07:11. > :07:15.host 300,000 Chinese a year. But with the Chinese middle class
:07:15. > :07:20.expected to reach 700 million by then, there is still a huge tourist
:07:20. > :07:30.market to tap. First they talk about e-commerce
:07:30. > :07:31.
:07:31. > :07:36.which meant selling things online, this year, the special word is f-
:07:36. > :07:39.commerce, the idea of selling things on social media. Two recent
:07:39. > :07:43.surveys suggested companies in the developing world are better at
:07:43. > :07:52.using the likes of Twitter and Facebook than their counterparts in
:07:52. > :07:56.Europe and the US. Welcome to the world of their new
:07:56. > :08:05.commerce. At this consultancy firm, they are advising companies on how
:08:05. > :08:11.to use social media to their benefit. They are helping Heinz
:08:11. > :08:14.sell a special soup to customers over Facebook. They can get a
:08:14. > :08:18.special tin of soup deliver to anyone who is sick. So the
:08:18. > :08:24.marketing message is spread by friends, more credibly perhaps then
:08:24. > :08:34.ordinary advertising. Social media is trying to activate advocates and
:08:34. > :08:36.
:08:36. > :08:41.get them speaking on your behalf which is more convincing.
:08:41. > :08:44.research from both these two companies suggests businesses in
:08:45. > :08:50.the developing world are much better at harnessing the chatter of
:08:51. > :08:59.social media then companies in the West. Latin America, Brazil, China
:08:59. > :09:07.and India use those social media more than companies in Europe. One
:09:07. > :09:13.reason is they need to infiltrate foreign markets as a quickly as
:09:14. > :09:17.possible. If you were setting up a developing marketing niche, would
:09:17. > :09:23.you put people on the ground and have representatives as in the
:09:23. > :09:31.traditional method, or could you use social media? You would use
:09:31. > :09:35.social media. And this video on Twitter shows graphically why
:09:36. > :09:40.companies should use social media. If customers are going to use it