China - Economic Data & News 04 (Feb 10 - Sep 10)

Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Thu Sep 09, 2010 2:36 pm

DJ China Targets Seven Emerging Industries For Development - Report

SHANGHAI (Dow Jones)--China's State Council, or cabinet, is stepping up efforts to develop seven emerging industries it views as having strategic importance, the Shanghai Securities News reported Thursday, citing a statement from the cabinet.

The government wants to speed up the development of energy-saving and environmental protection technologies, new communications technology, biotechnology, high-end equipment manufacturing, new energy, environmentally friendly materials, and new energy vehicles, the newspaper reported, citing the statement.

The government has called on enterprises to increase research on these industries, the paper cited the statement as saying.

Newspaper website: http://www.cnstock.com


Source: Dow Jones Newswires
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sat Sep 11, 2010 8:43 am

China China Has 24 Million Job Seekers and 12 Million Openings, Xinhua Reports
By Joshua Fellman - Sep 11, 2010

China’s employment situation remains “very grave” with 24 million job-seekers for only 12 million openings, Xinhua News Agency said, citing Yin Chengji, a Ministry of Human Resources and Social Security spokesman.

People looking for work include 6.3 million fresh graduates from universities and 6 million from high schools, the news agency reported.

The country will focus on finding work for college graduates, rural migrant workers and unemployed urban residents, Xinhua said.

http://www.bloomberg.com/news/2010-09-1 ... ports.html
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sat Sep 11, 2010 11:04 am

BEIJING, Sept. 11 (Xinhua) -- China's consumer price index (CPI), a major gauge to measure inflation, rose by a 22-month high of 3.5 percent in August from one year earlier, the National Bureau of Statistics (NBS) said Saturday.

Source: Xinhua
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sat Sep 11, 2010 11:17 am

22% of China's 1 billion workers jobless

BEIJING: With more than one billion workers in China, the world's most populous nation is facing a huge unemployment problem as only 780 million labourers are employed.

The numbers in China's first White Paper on the nation's human resources, released yesterday, suggest that around 22 per cent of its labour force is jobless.

'China is facing huge employment pressures at present and for the foreseeable future,' said Mr Yi Chengji, spokesman for the Ministry of Human Resources and Social Security.

'As China's urbanisation quickens, employment pressures from the many surplus rural labourers are getting bigger and bigger,' he said. 'There are about 100 million surplus rural workers (now) that need to be transferred (to urban jobs).'

He also pointed out that the job situation had become 'very complicated' as some enterprises in coastal regions were having trouble recruiting workers, but at the same time, university graduates were having difficulties finding jobs.

China's job situation has long been vague as the government only routinely publishes unemployment statistics on urban workers, excluding rural areas.

According to the 41-page White Paper, there were 9.21 million registered urban jobless at end-2009, resulting in just a 4.3 per cent urban unemployment rate.

China is undergoing an unprecedented urbanisation process; its urban population will rise to over 700 million people by 2015, outstripping the rural population for the first time, state media said in July.

China, with a population of more than 1.3 billion people, saw its labour pool grow by 112 million people over the past decade to more than one billion people, the White Paper said.


Source: AGENCE FRANCE-PRESSE, XINHUA
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sun Sep 12, 2010 10:14 am

China Industrial Output Tops Forecast as `Robust' Demand Aids World Growth

China’s industrial output rose at a faster pace in August than analysts estimated, signaling the world’s third-biggest economy is maintaining momentum as growth moderates.

Production gained 13.9 percent from a year earlier, more than the 13 percent median estimate of 29 economists, a statistics bureau report showed in Beijing yesterday. Consumer prices jumped 3.5 percent, the most in 22 months, as food costs climbed. Retail sales increased 18.4 percent.

The data suggest domestic demand is withstanding curbs on bank lending and government crackdowns to cool the property market and meet energy and pollution targets. Bank of America- Merrill Lynch forecasts gross domestic product will expand at least 9.4 percent this quarter and 9 percent in the final three months of the year, aiding the global recovery as elevated unemployment caps U.S. growth.

“Domestic demand is robust and the Chinese economy is heading for a smoother and softer landing than people had feared,” said Lu Ting, a Hong Kong-based economist at Bank of America-Merrill Lynch.


Deposit Rates

Inflation is 1.25 percentage points higher than the benchmark one-year deposit rate, encouraging savers to shift money into assets such as real-estate and adding to public concern about rising prices.

Australia and New Zealand Banking Group Ltd. said yesterday China should gradually “normalize” interest rates, initially raising the deposit rate. Credit Suisse AG economist Tao Dong said that while he favors higher rates, policy makers may make no “imminent” move, preferring to support growth.

Urban fixed-asset investment grew 24.8 percent from a year earlier in the first eight months of 2010, the statistics bureau said yesterday. That compared with a 24.9 percent gain for January-through-July. Producer price inflation slowed to an annual 4.3 percent pace from 4.8 percent.


Money Supply

In a separate statement yesterday, the central bank reported August new loans of 545.2 billion yuan ($80 billion) and a 19.2 percent increase in M2, the broadest measure of money supply. Both numbers were above economists’ estimates. The rebound in M2 growth was the first in nine months.

Trade data released on Sept. 10 signaled strength in Chinese demand, with imports in August jumping 35 percent from a year earlier, more than economists forecast. Last month also saw gains in property transactions and in auto sales, led by SAIC Motor Corp. and FAW Car Co.

The economy expanded 10.3 percent from a year earlier
in the second quarter after an 11.9 percent gain in the first three months of the year.


Five-Year Plan


Industrial-output growth may average 10 percent in the second half as the government chases energy-efficiency targets in a five-year plan, the Ministry of Industry and Information Technology said Sep 7.


http://www.bloomberg.com/news/2010-09-1 ... -3-5-.html
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby kennynah » Sun Sep 12, 2010 2:02 pm

china japan row over the arrest of fisherman....

hoot lah.... let's see if japan can now resist an all out china invasion.... my money on the chinese...
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sun Sep 12, 2010 3:24 pm

Small matter. WW3 will not start from this.

However, the Japanese has been accusing the Chinese of having an ulterior motive buy buying JGBs ie. pushing the Yen up to make Japanese goods more expensive.
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby kennynah » Sun Sep 12, 2010 3:59 pm

America will be very keen to see Chinese war capabilities if PRC attacks the nips... and it won't be surprising if they come to their aid to try curbing PRC's military influence..
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby winston » Sun Sep 12, 2010 4:43 pm

PRC technology is still in it's infancy. Also, over-confidence is also not in short supply.
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Re: China - Economic Data & News 4 (Feb 10 - Oct 10)

Postby kennynah » Sun Sep 12, 2010 5:00 pm

maybe so... i dont know if they can nuke her enemies...
but dont worry....they have a huge population to continue very prolonged attacks....and if usa gets into the picture, so will russia...
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