daily menu » rate the banner | guess the city | one on one

Go Back   SkyscraperCity > Asian Forums > Asian Skyscraper Forums > East Asia > Mainland China Forums 中国大陆论坛 > City Hall/议事厅 > Economy

Economy GDP, growth, trade, figures, indexes etc.


Global Announcement

SkyscraperCity needs your help to do some house cleaning! please click here for more info!



Reply

 
Thread Tools Rate Thread Display Modes
Old May 30th, 2012, 10:15 AM   #1181
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Cloud computing investment 'to hit $1B'
(China Economic, May 30)


Quote:
China spent $286 million on cloud-computing infrastructure last year, and the amount will increase to more than $1 billion in 2016, the research company IDC said on Tuesday.


China, where cloud computing is one the fastest-growing industries, accounted for around 10 percent of global cloud-computing investment last year, which totaled $28 billion, according to IDC.


Kitty Fok, vice-president of IDC Asia-Pacific, said that China's IT market is expected to have a volume of $163.2 billion this year, accounting for 7.6 percent of the global total.


The Ministry of Industry and Information Technology, along with other national departments, announced outlines on developing the country's cloud-computing services through pilot and demonstration cities and regions last year.


China already has five pilot cloud-computing cities - Beijing, Shanghai, Shenzhen, Hangzhou and Wuxi, said Wu Lianfeng, associate vice-president at IDC China.


Most public cloud projects will be promoted by the Chinese government.
A National Cloud Computing Industry Development Plan was recently approved by the central government and will be released soon.


China's first health-related cloud was established in March last year by Shanghai's Shibei Hospital, while the Qingdao municipal government built its first cloud-computing platform for e-government affairs with the software company Inspur Corp.


According to the country's 12th Five-Year Plan (2011-15), cloud computing will be a chief driver of the IT industry and the development of e-government in China.


Wu said that apart from the five pilot cities, 8 provinces and cities have also announced cloud computing strategies and plans. If all of these plans are implemented, China will have more than 10 million cloud-computing servers worth a total investment of $270 billion.


However, industry experts are concerned that excessive construction and the lack of a solid plan for the application of cloud-computing technology may result in a massive waste of resources.


According to IDC's latest survey, only about 30 percent of companies and organizations could provide detailed plans of what kind of applications they will put in clouds.


"Governments and enterprises should avoid over-investment and have detailed plans before they spend money," said Thomas Zhou, a senior research manager at IDC China.

http://en.ce.cn/Industries/IT/201205...23365247.shtml
everywhere no está en línea   Reply With Quote

Sponsored Links
 
Old May 30th, 2012, 11:17 AM   #1182
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

China to boost strategic emerging industries amid economic slowdown
(Shanghai Daily/Xinhua, May 30)


Quote:
BEIJING, May 30 (Xinhua) -- The State Council, or China's cabinet, on Wednesday adopted a plan to boost the development of seven strategic emerging industries amid the country's economic slowdown.

"It is an important and strategic task to develop strategic emerging industries, particularly when the economy is facing increasing downward pressure," said a statement released after an executive meeting of the State Council presided over by Premier Wen Jiabao.

The statement said the development of strategic emerging industries is of great significance in terms of maintaining long-term and steady economic growth.

The meeting resulted in the creation of plans to launch 20 major projects related to the seven strategic emerging industries.

According to the statement, the strategic industries include energy-saving and environmental protection, information technology, biology, advanced equipment manufacturing, new energy, new materials and new-energy vehicles.

The healthy development of these industries, the statement said, will mainly rely on a market that can play a fundamental role in allocating resources, an optimized policy environment and market participants.

The State Council urged indigenous innovation and enhanced international exchanges and cooperation while promoting the development of strategic emerging industries
.

China's economy grew at its slowest pace in almost three years in the first quarter, with its gross domestic product expanding only 8.1 percent during the period.

A string of economic indicators in April suggested further economic weaknesses in the world's second-largest economy amid renewed uncertainty in Europe, prompting policymakers to adopt swift measures to stabilize growth.

http://usa.chinadaily.com.cn/china/2...t_15407696.htm
everywhere no está en línea   Reply With Quote
Old May 30th, 2012, 11:54 AM   #1183
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Possible 5-year plan for bio industry
(China Daily Europe, May 30)


Quote:
The total output value of China's biotechnology industry is likely to hit 4 trillion yuan ($630 billion) by the end of 2015. The government is mulling on a five-year development plan for the industry, China Securities Journal reported on Wednesday, citing an official at the Ministry of Industry and Information Technology, or MIIT.


The 12th Five-year Plan (2012-2015) for China's biotechnology industry may be given the nod by the central government soon, said Li Hong, head of the medicine-development desk at MIIT. The plan will focus on the development of new chemical drugs, biomedical engineering and the modernization of traditional Chinese medicines, according to Li.


The report did not disclose the possible release date of the plan.


Meanwhile, the pharmaceutical sector is poised to contribute about 90 percent of the output value, which amounts to about 3.6 trillion yuan, said the report. The sector was valued 1.5 trillion yuan by the end of 2011.



MIIT announced earlier this year that the nation's pharmaceutical sector is expected to witness an annual increase of 20 percent in the next four years.

http://europe.chinadaily.com.cn/busi...t_15425879.htm
everywhere no está en línea   Reply With Quote
Old May 30th, 2012, 12:02 PM   #1184
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

GE opens innovation center in Chengdu
(Shanghai Daily, May 30)


Quote:
GENERAL Electric Co inaugurated an US$80 million innovation center in Chengdu today, the company's first facility worldwide purposefully designed for customer innovation.

"We believe open innovation practices, especially the customer co-creation approach embodied in CIC (China Innovation Center) Chengdu, is essential for multinational technology companies such as GE as we participate and contribute to China's future growth," Chairman and CEO Jeff Immelt said in Chengdu, capital of Sichuan Province.

The US company said it has spent more than US$80 million to build, equip and staff the new facility, which is part of a US$2 billion investment commitment it made in late 2010 to boost innovation and build partnerships in China over three years.

The Chengdu center provides a platform for Chinese customers to work better with GE engineers to develop new products and solutions in areas including shale gas exploration, energy storage, medical care as well as automation tools for the manufacturing sector.

China is believed to hold the world's largest shale gas reserves, much of which is concentrated in the mountainous western hinterland. China has yet to produce any of the unconventional fuel commercially in part because it lacks the technological knowhow.

Currently up to 3,000 scientists and engineers work for GE in China, primarily in the China technology center in Shanghai, one of GE's five global research centers. The center opened in 2000. The company said it plans another innovation center in Xi'an, capital of Shaanxi Province, over the summer with more in the pipeline.
http://www.shanghaidaily.com/nsp/Bus...Bin%2BChengdu/
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 04:11 AM   #1185
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Senior leader says to promote Xinjiang's leapfrog development
(Shanghai Daily/Xinhua, May 30)


Quote:
BEIJING, May 30 (Xinhua) -- Vice Premier Li Keqiang on Wednesday called for more support to Xinjiang Uygur Autonomous Region to achieve leapfrog development and long-term stability in this westernmost region of China.

Li made the remarks at the 3rd National Work Conference on "pairing assistance" projects to support Xinjiang's development.

President Hu Jintao met the delegates to the annual conference and thanked them for their efforts made in accelerating Xinjiang's development.

Premier Wen Jiabao and Vice President Xi Jinping, both members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, were present at the meeting. Zhou Yongkang, also member of the Standing Committee of the Political Bureau of the CPC Central Committee, also met with the delegates and attended the conference.

Huge achievements have been made in the past two years under a large number of pairing assistance projects for Xinjiang, especially projects concerning Xinjiang people's well-being, said Li, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee.

Vast land, abundant resources and huge development potential make Xinjiang a major area to implement China's strategy to expand domestic demand and the strategy to develop the country's western regions, Li said, adding Xinjiang is also a key area to accommodate transfer of domestic industries.

Xinjiang is one of the bridgeheads for China's opening to central Asia and Europe, said Li, calling for speeding up the opening of China's western border areas while enhancing the openness of its eastern coastal regions.

Li noted that assisting the development of Xinjiang is a long-lasting, arduous and imperative task.

More efforts and higher effectiveness are needed to advance the programs concerning the well-being of local people, such as housing, employment, medical care and social insurance, while the infrastructure construction and environmental protection should be further improved, said Li.

More support regarding technology, education, talented people and excellent cadres should be provided to Xinjiang, and the exchanges between Xinjiang and inland areas should be enhanced, Li added.

Li urged all provinces and municipalities involved to summarize the past successful experience in supporting Xinjiang's growth, solve existing difficulties and problems, and make plans for future assistance, so to help Xinjiang realize leapfrog development and long-term stability.

The "pairing assistance" projects, first unveiled by the central government at a high-level conference in March 2010, involve 19 provinces and municipalities in support of the development of Xinjiang.

http://www.shanghaidaily.com/article...a.asp?id=74063
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 04:22 AM   #1186
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Eyeing stable longer-term growth for the economy
(Shanghai Daily, May 31)


Quote:
CHINA should speed up implementing its current fiscal commitments in a way that promotes longer-term growth with fewer bubbles and less inequality, analysts said yesterday.

"The worsening external environment and slowing domestic activities have served as a wake-up call for the Chinese authorities," said Liu Ligang, an economist at Australia & New Zealand Banking Group Ltd. "The latest policy announcements suggest that the faster implementation of the current fiscal program is at the top of the nation's agenda."

But Liu also urged governments at all levels to honor their budgetary commitments to the nation's ambitious public housing program and approve quickly already planned infrastructure programs. "This, together with further monetary policy easing, will help resurrect the economy's flagging growth," Liu said.

However, Liu did not expect anything similar to the 4 trillion yuan (US$630 billion) stimulus program unveiled in late 2008 and said the policy support for growth, though urgent, should remain modest.

Since last week, the State Council, China's Cabinet, has unveiled stimulus measures to support domestic demand and investment. It resumed the subsidies for the purchase of energy-saving home appliances, and allowed private investment in state-dominated fields like railways, energy, telecommunications, education and health care.

Meanwhile, the National Development and Reform Commission has accelerated approvals of new investment projects since March, alongside the People's Bank of China's "window guidance" and the reserve requirement ratio cuts.

The moves, regarded as strong signs of a government determined to "stabilize growth," prompted market speculation of a new round of stimulus.

However, in a Tuesday report, Xinhua news agency said China is unlikely to roll out any stimulus packages that are as massive as in 2008.

Tao Dong, an economist at Credit Suisse, said on Monday that China may inject 2 trillion yuan to boost the economy - half the level in 2008.

http://www.shanghaidaily.com/nsp/Bus...the%2Beconomy/
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 04:24 AM   #1187
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

HSBC gets status
(Shanghai Daily, May 31)


Quote:
HSBC Bank China has gained regulatory approval to become one of the market makers of direct yuan-yen trading in the foreign exchange market on the Chinese mainland.

The China unit of HSBC Holdings Plc yesterday said it will quote and trade the yuan against the yen, to provide liquidity for the market.

The direct trading of the two currencies will promote the use of yuan in Sino-Japanese bilateral trade.
http://www.shanghaidaily.com/nsp/Bus...gets%2Bstatus/
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 05:49 AM   #1188
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Quote:
A Chinese electric locomotive manufacturer has delivered the electric traction system, the network control system and traction motor of electric bullet trains to Georgia, it was announced on Wednesday.


The delivery signaled that China has become an exporter of such core technology for the first time, according to a statement issued by the Zhuzhou Institute of China South Locomotive and Rolling Stock Corporation Ltd..


The company designed and produced the exported traction transmission system and the network control system, regarded as the "heart and brain" of electric multiple units (EMUs), or multi-car electric bullet trains.


The locomotives will be used in bullet trains travelling at a speed of 120 km per hour between Georgian cities in the mountainous Caucasus region, according to the statement.


The project contract was signed in August 2011, and the products for the EMU including the auxiliary traction inverter, the network control system, the braking resistance and traction motor have all been delivered.
http://en.ce.cn/Business/topnews/201...23368047.shtml
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 05:54 AM   #1189
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Bicycle exporters hit record high of $5.26B in 2011
(China Economic, May 30)


Quote:
According to statistics published by Chinese Cycling Association recently, China's total bicycles output in 2011 was 83.45 million units, an increase of 2.3 percent compared to the 81.598 million units last year; the output volume of electric bicycles was 30.96 million units, an increase of 4.8 percent compared to the 29.544 million units last year; the aggregated export value of whole-unit bicycles, bicycle parts, and electric bicycles amounted to US$5.26 billion, creating the highest historic record.

In the face of numerous adverse factors, such as the weakening global purchase power caused by the international financial crisis and the European debt crisis, the significant fluctuation of the price of major raw materials, the appreciation of RMB, and the rising of cost, how can the bicycle and electric bicycle industry maintain its growth?
"Initial success has been achieved in products structure adjustment and industrial transformation and upgrading. This has been the biggest highlight of the development of the bicycle industry in 2011", Ma Zhongchao, president of Chinese Cycling Association, told the reporter recently.

As society develops and people's life improves, a bicycle is no longer a mere simple transportation tool; more importantly, it is given numerous functions such as riding, recreation, travel, and physical exercise.



The "cycling culture" is becoming more and more popular rapidly, and market demands for medium- to high-end bicycles continue to increase. Bicycles tend to become lighter and foldable, while electric bicycles show the tendency to become lighter, lithium-powered, and intelligent.

In order to break the pattern that bicycle and electric bicycle have low added value, China's bicycle and electric bicycle industry has accelerated products transformation and upgrading. The standards of Chinese products are becoming on a par with ISO's international standards step by step, and some standards have adopted provisions of Japanese and European standards.

In terms of product technology, aluminum alloy is now widely used in the frame, wheel hub, winch, and brake handle of bicycles and electric bicycles. New materials such as titanium alloy, magnesium alloy, and carbon fiber have been used in some medium- to high-end products. As for electric bicycles, new technology and new products continue to emerge, such as intelligent electric bicycle, lithium ion battery, and central electric motor. Some core technologies are internationally leading.
It can be seen from the bicycle export statistics that the added value of products is increasing gradually and industrial structure is being adjusted and upgraded. In 2011, the unit price and total export value of bicycles achieved two-digit growth, an increase of 16.1 percent and 11.2 percent respectively over the same period of the previous year.



Among the export, the quantity of racing bicycles increased by 36.2 percent compared with the same period of the previous year, and export value increased by 62.7 percent, with an average price of US$260.9, an increase of 19.5 percent over same period of the previous year.

The growth of profit also indicates the influence of the structural changes of the bicycle and electric bicycle industry. In the past 5 years, the production growth rate of bicycle and electric bicycle has been slowing down gradually, but sales profit has been going up every year.



In 2011, bicycle sales value amounted to RMB 94.22 billion Yuan, an increase of 43.7 percent over 2007; the profit in 2011 was RMB 4.24 billion Yuan, an increase of 71.22 percent over 2007.

In spite of that, the bicycle and electric bicycle industry is still facing numerous challenges, main difficulties including: climbing costs such as labor cost and environmental resource cost, stress on company's cash supply, and weakening demands caused by the slowing down of the global economy.

In the meantime, positive elements for the development of bicycle and electric bicycle industry are obvious. Sales of medium- to high-end bicycles continue to go up, and domestic demands for high-end bicycles have increased.



This indicates that the market has entered the upgraded consumption stage, providing opportunities for the transformation and upgrading of the industry. Besides, low-carbon travel attracts wide attention from society. Bicycle and electric bicycle are further supported by governmental industrial policies.

How can the bicycle and electric bicycle industry achieve further development amid the complicated market environment? "Innovation, transformation, adjustment, and development" is the new development idea for the industry.



Importing world leading products and technologies and connecting to the international market have become the keys to the transformation and upgrading of China's bicycle and electric bicycle industry", said Ma Zhongchao.

Improvement of the bicycle and electric bicycle industry is achieved mainly by optimizing products structure, innovating product technology, and stabilizing product quality.



It is told that the Chinese Cycling Association will guide companies to carry out materials and products innovations, centering on main industrial technology innovation projects and making use of relevant government reserved funds for independent innovations.



Examples include: increasing the use of lean alloy steels, such as chrome-molybdenum steel and titanium steel, and light-weighted alloys and compound materials, such as magnesium alloy and aluminum alloy, in bicycles and their parts, and increasing the use of carbon fiber and other high-molecular light-weighted compound materials in high-end bicycles.

In terms of industrial environment, the Chinese Cycling Association will complete the standardization system for bicycle and electric bicycle, improve the supporting system of bicycle and electric bicycle, complete the bicycle and electric bicycle industrial chain, continue to make efforts to gain policy support from the government, and promote the transformation and development of the industry.

"China's bicycle and electric bicycle industry has a complete industrial chain and rather advanced technologies. Its advantages in international competition still exist."

According to Ma Zhongchao's analysis, the overall production of the industry in this year will show a trend of "restrictive first, and unrestrictive later; growth amid stable operation", and industrial structure upgrading will become the main momentum that sustains the growth of the bicycle and electric bicycle industry.

more: http://en.ce.cn/Insight/201205/30/t2...23366861.shtml
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 10:48 AM   #1190
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

BOC becomes yuan-yen direct trading market maker
(Shanghai Daily/Xinhua, May 31)


Quote:
BEIJING, May 31 (Xinhua) -- The Bank of China (BOC), China's third-largest lender, announced Thursday that it has been approved as one of the country's first market makers in yuan-yen direct trading, which is set to start Friday.

The BOC said in a statement that it will comply with its duties, quote both the buy and sell prices of the yuan against the Japanese currency on the interbank foreign exchange market and provide liquidity for the market.

The BOC's announcement came after HSBC Bank (China) Co., Ltd. said Wednesday that it was approved as a market maker in yuan-yen direct trading on China's interbank market.

Mizuho Corporate Bank (China) Ltd., a subsidiary of the Japan-based Mizuho Corporate Bank, has also been granted the status, the Shanghai-based China Business News reported Thursday.

China on Tuesday announced that direct trading of the yuan against the yen will begin on Friday, marking the first time for China to allow a major currency other than the U.S. dollar to be traded directly against the Chinese currency.

Starting from Friday, the central parity rate of the yuan against the yen will be based on the average price of offers made by market makers before the opening of the market each business day.

As part of China's efforts to promote Sino-Japanese financial cooperation, the move is also viewed as a further step toward the yuan becoming a truly global currency.
http://www.shanghaidaily.com/article...a.asp?id=74200
everywhere no está en línea   Reply With Quote
Old May 31st, 2012, 11:26 AM   #1191
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

China benefiting Africa through investments
(Shanghai Daily/Xinhua, May 31)


Quote:
BEIJING, May 31 (Xinhua) -- Gathered in Beijing for the first international fair for service trade, officials from Africa have applauded burgeoning Sino-African cooperation.

"We have resources that China needs, and I do not believe China is plundering our resources," said Prime Minister of Zimbabwe Morgan Tsvangirai.

Morgan Tsvangirai was in Beijing attending the International Fair for Trade in Services, which had attracted more than 22,000 service providers from 82 countries and regions to foster trade in the sector.

At a forum on Sino-African service trade and investment, Morgan Tsvangirai dismissed accusations of China "robbing" resources in Africa, saying despite the presence of Chinese investments in a wide range of areas, his country had full control over how the contracts should run.

China has become the largest trading partner to Africa, with the bilateral trade reaching a record high of 160 billion U.S. dollars in 2011.

Also, the continent has become a major investment destination for Chinese enterprises, where over 2,000 Chinese companies have invested in various sectors ranging from electronics, telecommunications to transport.

But these cooperations had triggered criticism from some countries, with some accusing China of practicing "new colonialism" in Africa.

Instead of resource plundering, Bheki Langa, South African ambassador to China, said at the forum that Chinese projects on the African continent, including dam construction, telecommunications, airports and roads, had helped create jobs and drive technological development there.

Compared with European countries and U.S., China's trade growth with African countries has been relatively steady.

"African countries' foreign trade has taken a hit from the global financial crisis of 2008, especially exports to the European countries and U.S., but Sino-African trade has maintained steady," said Henri Mumba, Malawi's deputy ambassador to China, adding the claims that "Sino-African cooperation puts African countries at a disadvantage" were "definitely wrong."

While calling for more cooperation in the traditional sectors of infrastructure and manufacturing, officials on both sides now seek to expand trade in the service sector.

Li Jinzao, Chinese vice minister of commerce, said Tuesday that China will further deepen cooperation with Africa in the service trade.

"Sino-African cooperation in the service sector, though at a small scale currently...has ample room for growth in the future," he said.

With China's expanding presence in the continent, African countries also expressed hopes that China could help further facilitate their development efforts.

"My hope is that my country can cope with a variety of challenges in its development, such as energy, water supply, roads and education...and China can play a significant role in this process," said Morgan Tsvangirai.

http://www.shanghaidaily.com/article...a.asp?id=74216
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:02 AM   #1192
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Macao's economy expands by 18.4% in Q1
(China Daily USA, May 31)


Quote:
MACAO - Spurred by the increase in exports of services and investment, Macao's Gross Domestic Product (GDP) for the first quarter of 2012 grew by 18.4 percent year-on-year, according to the figures released on Wednesday by Macao's Statistics and Census Service (DSEC).


Analyzed by major components, exports of gaming services and visitor spending rose by 19.6 percent and 21.2 percent respectively in the period when investment soared by 43.8 percent, the figures indicated.


Meanwhile, merchandise exports rose by 23.8 percent year-on-year, higher than the 7.7 percent rise in the previous quarter. Merchandise imports increased by 27.3 percent upon rising private consumption expenditure and visitor spending, as well as expansion in total investment, the DSEC said.


Due to the vigorous job market and rise in total employment and income, as well as low unemployment rate in the first quarter, private consumption expenditure increased by 5.4 percent, of which final consumption expenditure in the domestic market rose by 5.8 percent, while final consumption expenditure abroad increased by 8.7 percent.


The figures also indicated that private investment during the same period grew by 21.2 percent year-on-year, while government investment soared by 449.8 percent, attributable to the construction of the Hengqin Campus of the University of Macao and the public housing projects.

http://europe.chinadaily.com.cn/busi...t_15438812.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:10 AM   #1193
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

CNR Changchun aims to double exports to $1B
(China Daily USA, May 31)

Quote:
CNR Changchun Railway Vehicles Co Ltd, China's largest producer of rolling stock and urban rail cars, aims to double its annual export revenue to $1 billion within five years, General Manager Lu Xiwei told China Daily on Wednesday.



Located in Changchun, the capital of Jilin province, CNR Changchun is a subsidiary of China CNR Corp Ltd, the country's second-largest train producer.



Its product range includes high-speed rail cars and subways.
Exports will generate 30 percent of revenue in the next five years, according to the company.



CNR Changchun "is now strongly competitive in production and manufacturing technology in the international market, and our next step is to make greater efforts to explore foreign markets to maintain good momentum for exports," Lu said.



In April, the company signed a contract with Bangladesh to supply traction inverters and network control systems for diesel railcar trains.



The deal is seen as a signal of China's progress in exporting core rail technology.



Amid a weak world economy, many countries are eager to attract foreign investment to establish joint ventures in their local markets. These ventures are especially attractive when recipient countries can obtain advanced technology and promote local employment.



Lu said the company is researching the feasibility of exporting technology to, and localizing production in, South America, South Africa and Southeast Asia.



"Exports of intangible assets, including capital and technology, could yield higher profits than just exporting finished products, Lu said.



"We have realized that it's very difficult to develop in foreign markets only through product exports, so the trend will be a shift from product exports to technology and capital," Lu said.


Establishing joint ventures in foreign markets helps obtain orders in those markets, Lu said.


CNR Changchun has joint ventures in Iran and Australia that design and produce rail and subway cars.


Taking into consideration the operating risks, locally manufactured products "will be priced higher than those exported", Lu said.



Zhou Chuanhe, deputy general manager for overseas operations, said the company's market share in the industry will grow significantly as it establishes factories overseas.


"We will gradually tap into the high-end markets, as we mature in terms of technology, output and management in foreign markets," Zhou said.


"As China's rolling stock industry develops, Chinese products will account for 30 percent of the global market, competing with other industrial giants including Siemens and Alstom," Lu said.



CNR Changchun's exports now account for 65 percent of the nation's rolling stock exports, with more than 4,000 rail cars so far shipped to countries including Brazil, Australia and Thailand.
http://usa.chinadaily.com.cn/busines...t_15431375.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:20 AM   #1194
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

China announces funds for electrical waste processing
(China Daily USA, May 31)

Quote:
BEIJING - China's Ministry of Finance said Wednesday that the country will start amassing a special fund from July this year to subsidize the cost of dealing with waste electrical and electronic equipment.


The fund will be paid by domestic producers and importers of electrical and electronic equipment, according to a regulation jointly issued by the ministry and five other departments.


The fund's establishment aims to promote comprehensive utilization of resources and encourage energy saving and environment protection, it said.


Under the regulation, the collection and subsidy criteria varies depending on the equipment. For example, it will collect 13 yuan ($2.05) from producers for each TV set, but offer a subsidy of 85 yuan for the treatment of each waste TV set.


As a major manufacturer and consumer of electrical and electronic equipment, at the end of 2011, Chinese owned around 520 million TV sets, 300 million fridges, 330 million air conditioners, 320 million washing machines and 300 million computers. Tens of millions of the items are disposed of and require waster processing annually, according to the ministry.

http://europe.chinadaily.com.cn/busi...t_15433420.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:26 AM   #1195
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Chinese firms keep seeking overseas M&As
(China Daily USA, May 31)

Quote:
Propelled by the nation's rapid economic development, there is a boom in global merger and acquisition deals by Chinese enterprises, with private companies targeting opportunities in the luxury industry, according to a report from China Venture.


The report said the value of deals in China's M&A market totaled $154 billion last year, increasing 74 percent from that in 2007. By the end of April this year, the amount of finished deals had reached $26.77 billion.


"The number and value of completed outbound M&A deals have greatly increased. A main reason is that Chinese enterprises have been showing great confidence in developing businesses by merging with and acquiring overseas companies," said Wan Ge, author of the report and an analyst at China Venture Group, a leading Chinese private equity research agency.


The value of outbound M&A deals finished last year was $39.8 billion, up from $4.46 billion in 2007. The year 2010 witnessed a record figure of $70.9 billion, largely because of the following deals: Cheung Kong Infrastructure Holding Ltd and the Li Ka Shing Foundation purchased US home and business energy supplier EDF Energy for $9.1 billion in July; Zhejiang Geely Holding Group completed the purchase of Ford Motor Co's Volvo unit for $1.8 billion in August; and Minmetals Resources Ltd spent $1.85 billion buying Australian company Minerals and Metals Group.


In 2011, 323 deals with a value of $73.2 billion were initiated, while there were 107 such deals in 2007 worth $13.58 billion.


"We are also seeing PE companies taking part in global mergers and acquisitions of Chinese enterprises. Citic PE is an instance," said Wan. "However, PE companies doing global M&A deals should have high standards and their exit channels are limited so there are not many deals in the Chinese M&A market involved with PE."


Sany Heavy Industry Co and Citic PE Advisors paid 360 million euros ($475 million) this year for concrete-pump maker Putzmeister Holding GmbH to add technology and expand overseas. In 2008, local construction machinery maker Changsha Zoomlion completed its purchase of Italy's Compagnia Italiana Forme Acciaio SpA, with Goldman Sachs and two other investors, for 271 million euros.


Influenced by the European debt crisis, many enterprises in the US and Europe are facing the twin challenges of a shortage of funds and operational difficulties. Chinese private enterprises are seeking targets with first-class technology and global sales networks, the report said.


"There is a trend that private enterprises including Fosun Group and SHIG-Weichai Group are showing great interest in the luxury industry," said Wan.


In 2011, Fosun took a stake in Folli Follie Group SA, a high-end global retailer based in Greece, with an initial investment of 84.58 million euros.
SHIG-Weichai Group announced earlier this year that it had reached agreements with the major creditors of the world's largest luxury yacht maker, the Italian company Ferretti Group, to acquire a controlling interest in Ferretti by participating in its debt restructuring.


According to Wan, 239 outbound deals totaling $50 billion were finalized in the Chinese M&A market from last year to the end of April. Among them, 61 deals with a total trade value of $27.46 billion are in the energy and mining sector, making it the most popular sector.


"China has a huge demand for energy and goes abroad positively to seek opportunities," Wan said. "Usually, Chinese buyers are State-owned enterprises with enough money so the trade value of these deals is considerable."


According to Wan, M&A deals in the energy and mining sector will remain in the leading position in the short term. Deals relating to brand, core technology and distribution networks will be more popular.


more: http://europe.chinadaily.com.cn/busi...t_15431411.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:31 AM   #1196
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

China inflation to ease further
(China Daily USA, May 31)


Quote:
BEIJING - Inflation figures for May are expected to ease further from April due to falling food prices and the base effect, analysts said, raising expectations for monetary loosening.


The consumer price index (CPI), a main gauge of inflation, will grow at a slower pace in May compared with the previous month, as vegetable prices have decreased markedly, said Zhang Liqun, a researcher at the State Council Development Research Center.


Zhang Lei, an analyst for Beijing-based Minsheng Securities, predicted that declining food prices will drive the annual CPI growth rate below 3.2 percent in May.


Farm produce prices declined for a fourth straight week from May 21 to 27 because of sufficient supplies of seasonal products, the Ministry of Commerce said Wednesday.


The wholesale prices of 18 types of vegetables monitored by the ministry dropped 1.4 percent week on week, the ministry said.


Food prices account for nearly one-third of the basket of goods used to calculate China's CPI.


A high comparison base will also bring year-on-year CPI growth down, Zhang Liqun added.


China's CPI increased 3.4 percent year-on-year in April, easing slightly from the 3.6 percent registered in March.


The CPI hit 5.4 percent in 2011, well beyond the government's full-year target of 4 percent, and only started to show signs of retreating this year.
Inflation may ease to around 3.1 percent in May and fall below 3 percent in June, according to a report released by the Bank of Communications (BoCom) on Wednesday.


The central bank is likely to further unleash liquidity and even reduce interest rates if inflation softens faster than expected, the Shanghai-based Haitong Securities said in a report.


Abating inflationary pressure will also speed up the reform of pricing mechanisms for resource products, including refined oil, water, electricity and natural gas, Haitong Securities noted.
China keeps the prices of these products under strict control for fear of fueling inflation, but has promised to make pricing more market-oriented.


The pricing reforms, together with the acceleration of infrastructure construction by the government to counter China's economic slowdown, may contribute to price rises this year, but the overall trend of inflation easing won't be changed, the BoCom report said.


The government will be able to keep the annual CPI growth rate at or below 4 percent in 2012, according to the report.


To rein in soaring inflation last year, China's central bank raised interest rates three times and hiked its banks' reserve requirement ratio six times.
It has cut the reserve requirement ratio three times since December 2011 to cushion an economic slowdown caused by weak external demand and a flagging property market.


In the first quarter of 2012, China's economy expanded 8.1 percent year-on-year, nearly reaching a three-year low. The government has set the full-year growth target at 7.5 percent.
http://europe.chinadaily.com.cn/busi...t_15439995.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 08:44 AM   #1197
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

ODI growth rates to increase sharply
(China Daily, June 1)

Quote:
Outbound direct investment is set to soar in the coming years, with double-digit growth rates predicted, the Ministry of Commerce said.


"China's ODI is still in the initial stages, but the growth trend looks set to increase,'' said Chen Runyun, commercial counselor at the department of outward investment and economic cooperation at the ministry.


ODI surged by 1.8 percent in 2011, from the previous year, to $60 billion.
But the figure, from January to April of this year, grew by 72.8 percent year-on-year to $23.16 billion. China's total ODI, at the end of April, stood at $345.1 billion.


"The trend is clear. ODI is on a fast-growth track which will probably continue for some decades," Chen said.


"Various factors, including the increasingly appreciating yuan, China's large foreign exchange reserves and domestic companies expanding abroad, are driving the fast growth.''


A recent ministry statement said that ODI is expected to register an annual growth rate of 17 percent from 2011 to 2015, reaching $150 billion in 2015. Contracted value for the nation's engineering projects is expected to reach $180 billion in 2015.


"There are abundant opportunities ahead for outbound investment and cooperation," the statement said.


China overtook Japan and the United Kingdom in 2010 to become the fifth-largest global investor. China was the largest investor among the developing nations in 2010 and 2011.


Overseas investment, by the end of 2010, mainly went to manufacturing, retail, wholesale, commercial services and mining. In his annual government work report, Premier Wen Jiabao said China will guide enterprises to buy, invest and merge in key sectors overseas, including energy, raw materials, agriculture, and manufacturing. This is the first time that specific sectors were included in the government report.


China's largest entertainment group, Dalian Wanda Group, agreed in May to buy AMC Entertainment Holdings Inc for $2.6 billion, including debt, in a bid to expand into the US.


The deal reportedly marks the largest-ever buyout of a US company by a Chinese firm, and also gives Wanda the second-largest operator in North America.


Wanda is also looking to buy a European cinema operator.


In terms of regions, Asia, Europe and Africa are the top three destinations for ODI.


Chen predicted that Latin America will be another key investment destination.


China's investment in the European Union jumped by 94 percent in 2011, year-on-year, to $4.28 billion, and in Africa it went up by 59 percent year-on-year.


Yan Jufen, chief representative at the China Council for the Promotion of International Trade in France, predicted future investment growth.


"The demand for new technology will continue to be a driving force behind the wave of Chinese investment," he said.


"And there is great potential in sectors such as the chemical and aviation industries and alternative energy."


Foreign exchange reserves and the rising value of the currency will also help, he said.


Che Shuming, deputy representative on the same council, said the major advantage of Chinese companies was their capital strength.


"But difficulties and obstacles remain,'' Che said citing as an example the technology block by European countries.


More and more overseas investment deals came through mergers and acquisitions. The report by China Venture said the value of deals in China's M&A market totaled $154 billion last year, up 74 percent from 2007. From January to April, the amount of finished deals through M&A reached $26.77 billion.


But Chen said that even though Chinese companies have the technical know-how and the capital, cultural factors often play a part.
Cultural guidelines were released in May for the first time by six ministries and bureaus, including the Ministry of Commerce.


"Chinese outbound companies need to strengthen their soft power," said Zhang Guoqing, deputy director of the department of policy research at the ministry.


The guidelines covered how to deal with differences in languages, customs, values and religious beliefs, and emphasized the importance of job creation.
Besides cultural issues, Li Rongcan, assistant minister of commerce, said "many Chinese companies and investors complain that they face protectionism''.


"Chinese investments create benefits for both China and other nations."
Usually, protectionism targets State-owned enterprises, and they contribute two thirds of Chinese ODI.


"We will see more private companies invest overseas," said Lu Jinyong, a professor at Beijing's University of International Business and Economics.


Contact the writer at dingqingfen@chinadaily.com.cn

http://www.chinadaily.com.cn/china/2...t_15440809.htm
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 12:50 PM   #1198
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

Manufacturing weakens more than expected, hits 5-month lows
(Shanghai Daily, June 1)


Quote:
China's manufacturing activities weakened more than expected in May with a survey index measuring operational conditions in factories slipping to a five-month low.

The official Purchasing Managers Index, a comprehensive gauge of manufacturing activities weighted towards large state-owned enterprises, decreased to 50.4 last month from April's 53.3, the China Federation of Logistics and Purchasing said this morning.

A reading above 50 means expansion, while the opposite points to contraction.

The component indices indicated demand from both home and abroad scaled back with new orders slashing 4.7 points to 49.8, and new export orders dropping 1.8 points to 50.4.

The federation said furniture, machinery equipment, vehicle and non-ferrous metal companies reported notable drops in market demand.

"The official PMI presented a sharp decrease as feared, even below our expectation of 52," said Zhou Hao, an economist at Australia and New Zealand Banking Group Ltd. "It was a reflection of previous disappointing industrial production and power consumption data, and was very close to the reading of 50, which separates expansion from contraction."

Zhou said the data sounds an alarm for the possibility of a drop in industrial output this month and the next, and greatly raised the likelihood of an interest rate decrease in the near term.

Meanwhile, the HSBC China Manufacturing Purchasing Managers Index, which is slanted more towards private and export-oriented companies, was 48.4 in May, down from April's 49.3. It was the seventh straight month of worsening conditions in China's manufacturing sector.

"May's final reading confirmed that manufacturing growth slowed further on weakening demand from both overseas and domestic markets," said Qu Hongbin, chief economist for China at HSBC. "This points to a continuous slowdown of the real economy in the second quarter and should prompt China to step up easing efforts in the coming months."

Qu suggested policymakers allow fiscal measures and private investment to play a bigger role in supporting growth, complementing monetary easing via reserve requirement ratio cuts and possibly one interest rate reduction of 0.25 percent.

China's gross domestic product grew 8.1 percent from a year earlier in the first quarter, the slowest pace in nearly three years, stoking fears of a hard landing in the world's second largest economy.

Since last week, China has unveiled a set of measures to boost the sagging economy, at a time when some analysts forecast the growth may slip below 7.5 percent in the current quarter.

The measures included the subsidies for the purchase of energy-saving home appliances and cars using alternative energy, and the expansion of private investment into some state-dominated fields like railways, energy, telecommunications, education and health care.

The National Development and Reform Commission, the country's top economic planning agency, also accelerated approvals of new investment projects.

http://www.shanghaidaily.com/nsp/Bus...B5month%2Blow/
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 01:03 PM   #1199
everywhere
The Explorer
 
Join Date: May 2012
Posts: 4,435
Likes (Received): 70

NE China rail construction halted over environmental violations
(Shanghai Daily/Xinhua, June 1)


Quote:
HARBIN, June 1 (Xinhua) -- The Ministry of Environmental Protection has brought construction on a railway in northeast China's Heilongjiang province to a halt due to environmental violations, local authorities said Friday.

Further inspections will be conducted for the Harbin-Qiqihar passenger railway, the Heilongjiang provincial environmental protection bureau said.

Construction on the railway has violated several parts of the Environmental Impact Assessment Law, with some areas under construction lacking proper impact assessment approval, according to the bureau's investigation.

Several construction sites have been moved without authorization, threatening the Zhalong Sate Nature Reserve, a major habitat for cranes, according to the investigation.

The ministry has asked the builders to submit all environmental impact assessment paperwork before Aug. 1.

Construction on the 286-km-long railway began on July 5, 2009.

http://www.shanghaidaily.com/article...a.asp?id=74507
everywhere no está en línea   Reply With Quote
Old June 1st, 2012, 04:16 PM   #1200
big-dog
Moderator
 
big-dog's Avatar
 
Join Date: Mar 2007
Posts: 10,838
Likes (Received): 577

Quote:
Originally Posted by everywhere View Post
Senior leader says to promote Xinjiang's leapfrog development
(Shanghai Daily/Xinhua, May 30)

http://www.shanghaidaily.com/article...a.asp?id=74063
Reading the title remind me of "Big Leap Forward"
big-dog no está en línea   Reply With Quote


Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 06:35 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2013, vBulletin Solutions, Inc.
Feedback Buttons provided by Advanced Post Thanks / Like v3.1.2 (Pro) - vBulletin Mods & Addons Copyright © 2013 DragonByte Technologies Ltd.
vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2013 DragonByte Technologies Ltd. (Resources saved on this page: MySQL 23.08%)

SkyscraperCity ☆ High there, what's up!

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu