China - Economic Data & News 02 (Nov08 - May09)

Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Fri May 22, 2009 3:18 pm

Vice Premier Li said any recovery could be a “zigzagging and complicated” process as the global financial crisis continues to spread, the state-run Xinhua News Agency reported yesterday.
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Fri May 22, 2009 5:30 pm

1t or 1/4 of the 4t is for Sichuan.

Another 1/3 is for roads, airports. Irrigation etc.

Central govt paying only 30% of the 4t
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Sat May 23, 2009 7:57 am

Ronald Reagan: Trust but verify

What's Going on with China's Stimulus Package?

China sheds light on details of CNY 4 trillion economic stimulus package.

China's economic planning body this week provided an update on the spending details of its hefty stimulus plan. Of the CNY 4 trillion ($586 million) investment, the Chinese central government pledged CNY 1.18 trillion (representing about 29.5% of the total fund), and the remaining capital (about CNY 2.82 trillion) will be funded by local government and the private sector.

Since last November when the plan was first released, the central government has spent CNY 230 billion, including CNY 100 million in the fourth quarter last year and CNY 130 billion in the first quarter this year. The market is expecting the government to soon launch the third batch of investment totaling CNY 640 billion, including CNY 480 billion funded by local government and private sectors.

The government also provided a detailed breakdown of how the stimulus funding will be spent. About CNY 1.5 trillion will be spent on infrastructure construction including railways, roads, airports, urban power grids, and irrigation projects, representing the biggest share of the money.

Another CNY 1 trillion will go to the rehabilitation project after Sichuan earthquake. These two projects will take up about 62.5% of the money. Low-income housing, rural infrastructure, innovation, and industry restructuring each account for over 9% of the plan, while education and health-care spending represents only 3.75% of the total fund.

Thanks to the stimulus plan, China's urban fixed-asset investment in the first four months rose 30.5% year on year. However, a survey from the state auditor highlights some concerns on the implementation of the stimulating measures. One of the biggest concerns is the potential project delay due to the inability of the local government and the private sector to raise their share of financing.

http://news.morningstar.com/articlenet/ ... 1&pgid=rss
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Mon May 25, 2009 2:43 pm

DJ MARKET TALK: China Defends Indus Output, Power Data Mismatch

1258 [Dow Jones] Mismatch between China's data on value-added industrial output (growth in January-April), power consumption data (drop in same period) explained by faster growth of services sector vs industry, of hi-tech industry vs energy-gobbling industry, says statistics bureau in defense of its data.

Divergence of data affects view of how strongly Chinese economy is recovering; in Monday note, Standard Chartered economists question "how the value-added industrial output growth number could have remained as high as it has."

Their own weighted estimates are that energy-intensive, non-energy-intensive sectors are both falling in step. Economists add "the case of a 'V-shaped' recovery in China's industrial sector is looking suspect."
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Re: China - Economic Data & News (Nov08 - May09)

Postby millionairemind » Tue May 26, 2009 3:11 pm

Interesting article.

May the good China preserve us
May 21st 2009
From The Economist print edition
China is enjoying its new prestige as a global economic helmsman, but it still has problems at home
http://www.economist.com/world/asia/dis ... d=13701737
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Wed May 27, 2009 7:38 pm

Recovery signs lift delta export hopes

Exporters in the Pearl River Delta manufacturing heartland have seen increased orders in recent weeks, a survey has found, in a tentative sign of recovery for the beleaguered sector.

Nearly half of the respondents to a survey of Hong Kong-owned enterprises in the delta by the Federation of Hong Kong Industries said they have seen a gradual increase in orders by the start of May.

''The FHKI is pleased with the signs of economic recovery, and hopes that such a trend can persist,'' said chairman Clement Chan, after the survey of around 100 firms was released.

The survey found businesses welcomed stimulus measures by Beijing and Hong Kong to support businesses in the Guangdong factory belt.

Chan said it is imperative that measures put in place by Beijing and Hong Kong to help manufacturers, including tax incentives and the delay of tougher regulations, should continue until the export sector has fully recovered.

''We hope that signs of economic recovery can persist and become more prominent,'' he said, adding that he hoped to see stronger official data by the second half.

Between December and February 90 percent of export businesses had seen decreasing orders, with total orders dropping by an average of 36 percent compared to the previous year, the survey found.

Mainland exports fell 22.6 percent last month to 91.9 billion yuan (HK$105.3 billion) from a year earlier in the sixth straight monthly decline, according to the latest official data.

AGENCE FRANCE-PRESSE
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Wed May 27, 2009 7:39 pm

Fourfold expansion for urban rail system

China plans to expand its urban rail system nearly fourfold in as it aims to ease traffic congestion and boost economic growth, state media said.

By 2015, 19 cities will have new rail systems totalling about 2,100 kilometers, the China Daily said, citing Dou Hao, deputy general manager of China International Engineering Consulting Corporation.

The investment will be on top of the 778 kilometres of urban rail lines China currently has in 10 cities such as Beijing and Shanghai.

The project will involve an investment of at least 800 billion yuan (HK$912.6 billion), said Dou, whose company has been authorized by Beijing to assess the cities' metro plans.

The paper did not identify which cities will receive the investment.

''The increase is a result of government measures to boost the economy,'' said Zhou Xiaoqin, another CIECC official, adding that approval of the projects had been ''very quick.''

The move marks an expansion of a previously announced plan to build 1,700 kilometers of rail in 15 cities, and reflects growing willingness to approve infrastructure projects as a way of lifting growth during the economic crisis.

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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Thu May 28, 2009 6:12 am

China unveils new measures to boost exports

BEIJING : China on Wednesday unveiled new measures to help exporters, which have been hard hit by falling overseas demand due to the global economic crisis, state media reported.

At a meeting presided over by Premier Wen Jiabao, for 2009 the government decided to increase export credit insurance to 84 billion dollars and export credit to 10 billion dollars, according to CCTV television.

"The fall in external demand which has caused a drop in exports is the biggest difficulty facing," the Chinese economy, the government stressed, CCTV said.

It also said it would keep the yuan currency "basically stable" at a "reasonable and balanced" level to support export firms.

Since the start of the year, Beijing has undertaken a series of measures to support its vital export sector, notably by lowering taxes.

Chinese exports fell 22.6 percent year-on-year in April, against a drop of 17.1 percent in March, according to official figures.

- AFP /ls
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Fri May 29, 2009 7:49 am

China Economists Raise Growth Forecasts Amid Signs of Weakness By Bloomberg News

May 29 (Bloomberg) -- China’s growth prospects have improved from three months ago, even after accounting for drops in steel and electricity output and the risk of a manufacturing contraction this month, economists’ forecasts show.

http://www.bloomberg.com/apps/news?pid= ... refer=asia
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Re: China - Economic Data & News (Nov08 - May09)

Postby winston » Fri May 29, 2009 7:49 am

China Economists Raise Growth Forecasts Amid Signs of Weakness By Bloomberg News

May 29 (Bloomberg) -- China’s growth prospects have improved from three months ago, even after accounting for drops in steel and electricity output and the risk of a manufacturing contraction this month, economists’ forecasts show.

http://www.bloomberg.com/apps/news?pid= ... refer=asia
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