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

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

Postby LenaHuat » Tue Nov 16, 2010 5:55 pm

No, iam802, it's diesel. Gansu is suffering too.
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby kennynah » Wed Nov 17, 2010 1:22 pm

so corpses cannot be cremated becos no fuel to start up the furnace....
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Wed Nov 17, 2010 2:04 pm

Price Control on the way.

Somebody obviously was sleeping over the past 9 months.
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Wed Nov 17, 2010 8:05 pm

China to subsidize food after price spike

China's government announced food subsidies for poor families Wednesday as it tries to cool a double-digit surge in prices that communist leaders worry might stir unrest.

The Cabinet promised to ease shortages of vegetables and grain that helped push up food prices by more than 10 percent in October. It promised more supplies of diesel to end fuel shortages that have disrupted trucking and industry.

The Cabinet said it was not ordering direct price controls but said they could be imposed if necessary. The statement gave no details of the subsidies or how the government would try to increase food supplies.

Inflation is politically volatile in China, where poor families spend up to half their incomes on food. Rising incomes have helped to offset price hikes, but inflation erodes gains that help support the ruling Communist Party's claim to power.

"Inflation is one of the biggest political issues today," said Robert Broadfoot, managing director of the Political and Economic Risk Consultancy in Hong Kong. "I think you're going to see isolated demonstrations over living costs."

The jump in food prices, which has been blamed on summer storms that damaged crops, pushed inflation to a 25-month high of 4.4 percent in October — well above the government's 3 percent target.

Surging food prices are not confined to China with agriculture in other countries also hurt by unpredictable weather from drought to storms and floods.

The U.N. Food and Agriculture Organization on Wednesday said global prices of most commodities are up sharply from last year and further spikes are likely unless production of major food crops rises.

The international community must remain vigilant against further supply shocks in 2011, the FAO said in its Food Outlook report.

The Chinese announcement said Beijing will release stockpiles of grain, cooking oil and sugar to increase supplies in the market. It promised more money to subsidize school meals for poor children and said local authorities were ordered to increase supplies of vegetables.

The announcement came after China's stock market closed but the benchmark Shanghai index lost 2 percent Wednesday after state media cited Premier Wen Jiabao as saying Beijing was preparing steps to combat inflation. Investors worry that economic controls might slow China's declining growth further and hurt company profits.

"Investors are panicked about moves in monetary tightening due to Wen's comments, so they would rather sell than wait for the change," said Liu Kan, a market analyst for Guoyuan Securities in Shanghai.

McDonald's Corp. raised prices of hamburgers, drinks and other items by 0.5 to 1 yuan (7 to 15 cents) due to higher costs, the official Xinhua News Agency said. In a written response to questions, the company cited "rise of commodity cost" but gave no details.

The jump in food costs came as Beijing is trying to steer China's rapid growth to a more manageable level and restore normal conditions following its stimulus-fueled rebound from the global crisis. Banks were ordered last week to increase reserves to curb loan growth.

A report by a government think tank this month suggested inflation might be even higher than reported because official data fail to fully account for costs of services and housing.

The economy also faces strains from diesel shortages triggered by government conservation efforts. Authorities have imposed rolling blackouts on factories to meet energy-saving goals, prompting thousands to buy their own diesel-powered generators, which boosted demand at a time when industry analysts say China's major state-owned oil companies are withholding supplies in anticipation of a rise in the government-set price. That has led to rationing and long lines at filling stations, disrupting cargo shipments.

The ruling Communist Party's ability to manage inflation could play a key role in the impending handover of power to a new generation of leaders, Broadfoot said.

"They're going to be talking about inflation because it has a direct impact on social stability," he said. "Leaders who were going to be promoted, if there are protests, won't be promoted. In those areas where stability was maintained, those leaders will get the inside edge on being promoted."

Analysts have warned that stimulus money and a flood of bank lending coursing through the economy might add to pressure for prices to rise in other sectors.

On Tuesday, a Commerce Ministry spokesman said the government is releasing stockpiles of pork and sugar to increase supplies in the market and curb price rises.

Some analysts say food price inflation has passed its peak and should decline but Chinese media say the cost of some basic goods is still rising strongly.

The price of sugar rose 1 percent in the first week of November over a week earlier, meat and eggs by 0.8 percent and cooking oil by 0.5 percent, according to Xinhua.

___

Associated Press researcher Ji Chen in Shanghai contributed.

___

Chinese Cabinet (in Chinese): http://www.gov.cn

Source: AP News
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Fri Nov 19, 2010 4:16 pm

US Embassy: Beijing air quality is 'crazy bad'

Air pollution in Beijing was so bad Friday that the U.S. Embassy, which has been independently monitoring air quality, ran out of conventional adjectives to describe it, at one point saying it was "crazy bad."

The embassy later deleted the phrase, saying it was an "incorrect" description and adding that it was working to revise the language to use when the air quality index goes above its highest point of 500, which means the air is considered hazardous for all people by U.S. standards.

The hazardous haze has forced schools to stop outdoor exercises, and health experts asked residents, especially those with respiratory problems, the elderly and children, to stay indoors.

"We've canceled 10 days worth of games since August," said David Niven, chief operating officer of China ClubFootball, which runs extensive youth and adult football leagues in Beijing. "If the air is above 240 (on the air quality index), some of the schools will ask us to move football games indoors or cancel them altogether. Because of the bad air this year, we've had to cancel more games than ever before."

Health experts say that breathing polluted air can affect respiratory functions and worsen problems for those with asthma or allergies.

Experts say Beijing's frequently bad air has been even dirtier recently because a growing number of factories and villages on the outskirts of the city are burning coal for the winter and more than 1,200 new cars hit the roads each day.

The capital underwent a massive cleanup in 2008 for the Olympic Games, such as planting thousands of acres (hectares) of trees in and around the city, but has since allowed some factories to reopen and lifted some traffic restrictions, bringing pollution levels back up.

"If the city's planning was better, people from the outskirts wouldn't have to commute for hours each day," said Ma Jun, director of the Institute of Public and Environmental Affairs in Beijing. "Beijing needs to place more of a priority on the environment. The health of Beijing residents is no less important than the health of those athletes who were here for a few weeks."

"We can't just expect wind, snow or rain to wipe out the pollution when it gets bad," Ma added. "The city must take pollution more seriously and implement preventive measures."

When China's air pollution index, which measures four major pollutants, is under 100, China considers it a "blue sky day."

According to the China Daily newspaper, Beijing experienced 285 blue sky days in 2009, compared to 274 in 2008.

But in the first half of this year, Beijing saw 140 blue sky days, six less than the same period the previous year, it said.

Source: AP News
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Fri Nov 19, 2010 9:13 pm

China vows intensified crackdown on insider trading

China's government has vowed to tighten scrutiny of suspected insider trading in the nation's stock markets, warning the situation is "severe".

Insider trading has become more concealed and complex following the introduction of stock index futures earlier this year, the central government said in a statement released late Thursday.

"Currently, the situation of cracking down on and controlling insider trading in capital markets is rather severe," it said.

The cabinet said securities regulators should "start probes immediately" into suspected insider trading, and impose punishments "as soon as possible" to protect investors.

Stock index futures provide an opportunity to make trades based on expectations that the overall market could fall -- as well as rise.

Chinese regulators have pledged repeatedly in recent years to step up vigilance against insider trading, but the practice and other shady share dealings remains rife.

China has taken a range of policy measures this year to try to rein in speculation, particularly in the property market, as the authorities fear a dangerous asset bubble.

On Wednesday the authorities announced a number of policy guidelines aimed at curbing rising prices of food, energy and other key items.

The move was the latest expression of growing official alarm at an inflation rate that hit a two-year high in October amid a surge in food prices.

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

Postby LenaHuat » Fri Nov 19, 2010 9:36 pm

The RRR (required reserve ratio) for Chinese big banks is now 18.5% :o Taiwanese and HK TV have been reporting about jadeite and white jade prices spiking up 100 times in the next few years :o
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby kennynah » Sat Nov 20, 2010 8:03 am

some years ago...i attended a talk about how to differentiate an authentic jade/jadeite/jedi/dark lord/obi wan/etc :D

and i must admit...it isn't easy to tell even under a powerful microscope.... if one doesn't have a pair of trained eyes...

by the way, we all know that emperor jades can cost multiple times the best 4Cs diamonds...

i think...women will be flocking to this page...

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

Postby profittaker » Fri Nov 26, 2010 5:09 pm

China approves new plan to boost green industries
By Gao Yuan (chinadaily.com.cn)
2010-11-26 16:33

Comments
China's environmental protection spending is expected to top 3 trillion yuan ($450 billion) during the 12th Five-Year Plan (2011-2015), said Wu Xiaoqing, vice-minister of environment protection, the 21st Century Economic Herald reported Friday.

Wu said China's environmental protection market will become one of the biggest in the world with an annual growth rate of 15 percent to 20 percent.

On Nov 25, the State Council has approved a plan for the development of energy-saving and environmental protection industries in the next five years, the report said. The plan covers three industries – energy saving, environmental protection and resource recycling, said He Bingguang, inspector at the department of resource conservation and environmental protection at the National Development and Reform Commission.

According to the plan, the development of energy-saving and environmental-protection equipment is a top priority in the next five years.

The central government has allocated 210 billion yuan, as part of its 4 trillion yuan economic stimulus plan, to energy-saving, emission reduction, recycling and ecologically sound construction projects, the report said.

In addition, Xia Guang, head of policy research office at the Ministry of Environmental Protection told the newspaper that the plan is an advisory document and relevant rules on finances and taxation for these industries will come out soon.

Companies in energy-saving or environmental protection industries are enjoying preferential policies according to the current tax regulations and policy makers are considering further cutting their income taxes by 50 percent, the report said.

http://www.chinadaily.com.cn/bizchina/g ... 616843.htm
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby profittaker » Mon Nov 29, 2010 10:21 pm

In China, Cultivating the Urge to Splurge
http://www.nytimes.com/2010/11/28/magaz ... ina-t.html

Pessimists argue that China has only a few years to start making major changes. According to this line of thinking, the recent splurge on infrastructure will lead mostly to empty buildings and unrecoverable loans, and the weak global economy will soon cause other countries to put up trade barriers unless China raises the value of the renminbi. Optimists reply that China remains a poor country and still has a couple of decades to switch from a factory economy to a consumer economy. Guo, the party leader and bank chairman, said that he did not think change had come quickly enough in recent years. But, he added, “I think we have plenty of time, plenty of tools and plenty of instruments to make a soft landing and a smooth transformation.” Arthur Kroeber, who agrees, points out that China’s per-capita income is still only where Japan’s was in the mid-1960s.

One reason for optimism is that a version of the current strategy, what Guo calls “build first,” has worked before. Deng and the other post-Mao leaders built the coastal cities before they had been established as manufacturing hubs. They plowed ahead, and China’s natural advantages — size, location, literate population and, hard as it may be to quantify, Confucian work ethic — allowed the strategy to pay off. If that happens again, not all of today’s buildings and roads will be filled, but enough of them will be.

Kroeber first visited China in 1985 during the early stages of both Deng’s reforms and the boom that has continued almost without interruption since. Even then, Kroeber said, he had a hard time imagining that China would find a way to make use of all of its new construction. During that visit, he would sometimes get around Beijing by biking on the recently built Second Ring Road, which encircled downtown. The road was big and wide, with few cars on it, and Kroeber remembers thinking it absurd that the city had spent the money to build it. Today, however, Second Ring Road is clogged with cars day and night. The subway is usually a faster way to travel. Third and Fourth Ring Roads are clogged, too. Fifth Ring Road, completed in 2003, and Sixth Ring Road, completed last year, are less congested. But you would not want to ride your bike on them.

In China’s halting efforts to build a new economy today, there is an intriguing parallel to the United States: Both the world’s largest economy and its latest challenger need to remake themselves. As Guo bluntly told me, “You are facing transformation, too.” The United States needs to shift away from debt-financed consumption with little long-term benefit and toward investments that can create good-paying jobs, like education, infrastructure, energy and scientific research. China needs to invest less and consume more — to keep growing rapidly and, in the process, to stimulate economic growth around the world. In both countries, significant changes are necessary to create more sustainable growth. And in both countries, they inspire fierce internal opposition.

We tend to think of the United States and China as rivals, and they will continue to compete in coming years, over which will build the industries of the future and which will be the dominant power in Asia and the world. But our problems are also linked, just as the Chinese export boom and the American consumption boom depended on each other and, together, helped create the financial crisis. The worst outcome now, for both countries, might well be economic stagnation in China. That would slow U.S. growth and could lead to political chaos in China. The best outcome would be for both countries to reshape their economies gradually, benefiting both. In neither country will it be easy.
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