China - Economic Data & News 05 (Oct 10 - Jun 11)

Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Tue Jun 14, 2011 10:01 am

PPI @ 6.8%

CPI @ 5.5%. Do you really believe that inflation is only 5.5% ? :P :roll: :evil:
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Tue Jun 14, 2011 3:29 pm

RRR hike 50bps
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Tue Jun 14, 2011 4:09 pm

*DJ China: Vegetable Prices Rose 10% In Late May From Mid-May

*DJ China: Drought, Floods Drive Vegetable Inflation

Source: Dow Jones Newsiwre
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Tue Jun 14, 2011 10:11 pm

Here are 10 Reasons Why We Doubt China’s Ascendancy:

1. The rise of “Maternity Tourism” – For reference, the other country that practices Maternity Tourism is Mexico. A baby born on US soil becomes a US citizen at 21 if his/her parents are not US citizens. It’s why places like El Paso, and other US border cities have such as high number of non-resident births. Why would well-to-do Chinese mothers be coming to the US to give birth, then?

2. Gas prices in China are more expensive than gas prices in the US and that is not on a PPP (purchase price parity) basis, but on an actual dollars per gallon basis. Consider this: Shanghai gas prices as of Friday June 10 were: 8.5 RMB/liter = $1.31 per liter (3.785 liters to the gallon) = $4.96 per gallon.

3. The real estate bubble may be popping and will harm not only the consumer market in China, but countries that export to China. The WSJ coverage includes discussion of plunging excavator sales within China as an example (we can write an entire post on the potential impact of popping the China housing bubble)

4. Rising taxes have harmed Chinese small businesses and factories. Two months ago truckers in Shanghai went on strike protesting taxes and fees

5. Many factories geared for exports have closed and will never come back

6. Rising inflation has caused serious problems and this pundit also shorts China

7. Chinese citizens have taken to micro-blogging where some political content can only be accessed through an ID and password, though one of our contacts confirmed the government routinely edits content it doesn’t like

8. Follow the money. We asked another contact where the wealthy have parked their dollars. The reply we received, “outside of China,” followed by “Yes, I want to leave and take my kids to learn in another country if I can afford to” (this from someone who clearly falls into China’s ‘middle class’)

9. After 30 years of China’s one-child policy, the birthrate now stands at 120 boys for every 100 girls. “When there are more men than women, social instability and crime increases in society,” said Valerie Hudson of BYU.

10. We won’t even touch the issues of environment, government corruption, falling water levels on key trade routes, water shortages or China’s currency peg (those have been touched on by my colleagues already).

http://agmetalminer.com/2011/06/13/10-r ... -part-one/
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Wed Jun 15, 2011 11:48 am

DJ China Commerce Ministry: To Further Cut Import Tariffs

BEIJING (Dow Jones)--China will further cut import tariffs, including that on luxury goods, Ministry of Commerce spokesman Yao Jian said Wednesday.

Speaking at a regular press conference, Yao didn't give further details.

Source: Dow Jones Newswires
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Wed Jun 15, 2011 4:50 pm

China downplays risk to children from lead poisoning: report by Michael Martina

BEIJING (Reuters) - Chinese children suffering lead poisoning from polluting smelters and factories have been denied testing, effective treatment and even basic information by officials who downplayed health threats, a human rights advocacy group said on Wednesday.

The report from Human Rights Watch comes after China's latest lead pollution outbreak, when 103 children and scores of adults were poisoned by tinfoil-making workshops in eastern Zhejiang province.

Beijing has vowed to clean up this chronic pollution, but New York-based Human Rights Watch said those efforts only go so far in addressing the needs of hundreds of thousands of children it says are suffering from lead poisoning in China.

Lead, especially harmful for children, can lead to learning difficulties and behavioral problems, and often parents who work at the plants bring home extra doses on their clothes and skin.

"I want to know how sick my son is, but I can't trust the local test results," one mother from Hunan province in southern China told investigators, according to the report available on the Human Rights Watch website: (http://www.hrw.org).

Citizens who complain about the problem face pressure, the rights watchdog said, citing dozens of interviews with parents in areas afflicted by pollution.

"Parents, journalists, and community activists who dare to speak out about lead are detained, harassed, and ultimately silenced," Joe Amon, health and human rights director at Human Rights Watch, said in a statement released with the report

Rapid industrial growth in China has increased citizens' worries about their health, especially where towns and villages located next to poorly regulated factories and workshops have been stricken by pollution problems.

China is the world's biggest consumer of refined lead, and battery making accounts for 70 percent of that consumption, which is likely to grow to 4.1 million tonnes in 2011.

China's environment ministry has promised to tackle heavy metal poisoning as widespread cases have sparked public anger and protests.

Three-quarters of lead-acid battery manufacturing plants in China could be phased out in the next two to three years, an industry body said last month.

MISLEADING INFORMATION

Despite those vows, leaders in Beijing have struggled to rein in local officials who put jobs and economic growth ahead of environmental protection.

Based on 52 interviews, Human Rights Watch found that local governments denied the scope of potential poisoning and issued misleading information about the dangers of living close to polluting factories.

Parents were often told that drinking milk or eating garlic and eggs was adequate treatment for lead poisoning, the advocacy group said.

"The doctor told us all the children in this village have lead poisoning. Then they told us a few months later that all the children are healthy. They wouldn't let us see the results from the tests though," said a parent from Yunnan province quoted in the report.

"The government doesn't want to have to give us anything so they make up the results," another parent from Henan province said.

Lead poisoning can build up through regular exposure to small amounts, damaging the nervous and reproductive systems and kidneys, as well as causing high blood pressure and anemia.

"In villages where lead exposure is highest, a generation of cognitively and physically disabled children will need significant and ongoing support," the report said.

The group compared the corruption and cover-up of nationwide lead poisoning cases to the high-profile AIDS and SARs scandals that shattered international confidence in China's public health administration in the 1990s and early 2000s.

"The response to lead poisoning has so far followed this same road, but it is not too late for the Chinese government to take a different approach," the report said.

Source: Reuters US Online Report World News
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Thu Jun 16, 2011 7:30 am

Corrupt cadres fled with 800b yuan

As many as 18,000 corrupt mainland officials may have fled the country with as much as 800 billion yuan in ill-gotten gains in less than two decades, according to a study .

Source: SCMP
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Wed Jun 22, 2011 6:46 pm

China’s Money Rate Rises to More Than Three-Year High as Banks Hoard Cash

China’s money-market rate climbed to the highest level in more than three years on speculation a cash crunch will worsen as banks seek to meet capital requirements by quarter-end.

The seven-day repurchase rate, which measures interbank funding availability, more than doubled in the past six days since the People’s Bank of China ordered lenders to set aside more money as reserves for a sixth time this year.

A total of 372 billion yuan ($57.5 billion) of central bank bills and repurchase agreements will mature next month, compared with 601 billion yuan in June, according to China Merchants Bank Co.

“Banks have to hoard cash to meet the regulator’s capital or loan-to-deposit requirements by the end of every quarter,” said Liu Junyu, a bond analyst at China Merchants, the nation’s sixth-largest lender. “So we won’t see the shortage easing.”

The repo rate gained 44 basis points, or 0.44 percentage point, to 8.79 percent as of 9:57 a.m. in Shanghai, according to a weighted average rate compiled by the National Interbank Funding Center. It touched 8.93 percent, the highest level since October 2007.

The 14-day repo rate declined 183 basis points to 6.76 percent, the biggest drop since Feb. 1. The slump in longer-term rates shows the cash shortage will probably ease from the start of next month, said Liu.

http://www.bloomberg.com/news/2011-06-2 ... -cash.html
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Wed Jun 22, 2011 7:42 pm

China 'prone to corruption,' official says

Rapid social and economic changes have made China "prone to corruption" and the ruling Communist Party faces a major challenge stamping out deep-rooted official graft, an official said Wednesday.

"We are at a stage that is prone to corruption," Wu Yuliang, a top party discipline official, told reporters in a briefing ahead of the July 1 celebration of the founding of the Chinese Communist Party 90 years ago.

"We should not lose sight of the fact that the situation remains severe and we have a daunting task in front of us."

China's leaders were determined to wipe out corruption but would do so largely through internal party policing, said Wu, vice head of the party's discipline commission.

Leaders including President Hu Jintao have long said that graft threatened the party's right to rule, but reports of large and high-level corruption cases have continued apace, while the amounts involved have skyrocketed.

Wu said the ruling party and government welcomed the "full role of the public" in supervising officials, including the media and the Internet.

But he added the government would "strengthen the administration of the Internet," an apparent reference to the routine censoring of news and information online deemed to cast the Communist party in a poor light.

"We need to guide the netizens in a way to make their reports on (corruption) cases accurate and reliable."

Wu refused to disclose information on pending corruption cases, including an investigation now under way into reported wrongdoing by ousted railways minister Liu Zhijun.

Chinese political observers and academics maintain that much of China's graft is caused by the over-concentration of power in the hands of officials and that it will be hard to curb without democratic reforms.

In 2010, the Communist Party investigated more than 139,000 cases of "disciplinary violations" -- wording that refers to official wrongdoing -- and punished more than 146,000 party members, Wu said.

Of those punished, only 5,373 cases were handed over to the state judiciary for criminal proceedings, he said.

The party takes the lead in punishing corrupt officials, often merely through demotions or other administrative means.

Source: AFP Asian Edition
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Re: China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby millionairemind » Wed Jun 22, 2011 7:45 pm

winston wrote:China 'prone to corruption,' official says

Rapid social and economic changes have made China "prone to corruption" and the ruling Communist Party faces a major challenge stamping out deep-rooted official graft, an official said Wednesday.

Source: AFP Asian Edition


Just PRONE??? :lol: :lol: :lol:
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