China - Economic Data & News 08 (Apr 12 - Feb 13)

Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Sat Jan 12, 2013 7:44 am

Small boys playing with loaded guns ...

China sends jets to Diaoyus as risk of military clash with Japan rises

The risk of a military clash between China and Japan escalated yesterday, with Beijing saying it had scrambled two J-10 fighter jets to monitor Japanese military planes.


Source: SCMP
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Fri Jan 18, 2013 9:26 pm

Only 0.5 ? It should be around 0.8 IMHO ...

China breaks long silence on inequality statistic

AFP - China released a decade's-worth of information on a key inequality statistic on Friday after keeping the measure a secret since 2000, as the issue becomes increasingly sensitive.

The Gini coefficient is a commonly used measure of income inequality, with a figure of 0 representing perfect equality and 1 total inequality. Some academics view 0.40 as a warning line.

China's peaked at 0.491 in 2008 before falling in recent years to 0.474 in 2012, Ma Jiantang, chief of the National Bureau of Statistics, told reporters as he announced readings for the decade from 2003.

http://www.france24.com/en/20130118-chi ... -statistic
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Mon Jan 21, 2013 6:25 am

China's Economic Numbers

Ask CAT about Chinese trustworthiness (as you ask yourself about CAT's due diligence).

After hours Friday CAT warned that a company it bought in China was basically a total write off, cutting half off of CAT's Q4 earnings.

Why? In a Hewlett-Packard like move, it appears CAT bought a basically worthless company that supposedly engaged in systematic year after year lying about its results.

It is taking a $580M charge. If it is not Chinese hackers, Chinese spies here on visas, it is, apparently, intentional fraud.

Oh, but you can still believe China's economic numbers.

Source: Investment House
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Thu Jan 31, 2013 8:54 am

Soaring Debt Precedes Financial Crises…

Things don’t look so good for China:

Will we see a Chinese financial meltdown in 2013? Or 2014? Or 2015? With global GDP growth on a definite trend downward, with such a tepid Western recovery, and with global geopolitical tensions still high, the last thing the global economy needs is a financial crisis at the heart of the BRIC growth engine. But the data implies that that may just be what we get.

To those who believe that China is immune to such a thing, recall that America suffered the Great Depression immediately previous to becoming a global superpower. China’s economy has undergone a rapid transformation in recent years:

Such a transformation is sure to necessitate some dislocation and fallout — just as America’s transformation from an agricultural to a manufacturing economy did. America ended that process as the global superpower.

It remains to be seen if the same will happen for China, but controlling the world’s largest productive industrial base certainly suggests so. The other factor, of course, that presaged America’s rise was a global war…

http://azizonomics.com/2013/01/28/soari ... al-crises/
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Tue Feb 05, 2013 7:31 am

Provinces exaggerate economic growth by Natallie Cai

Mainland provincial governments may have exaggerated their economic growth last year by more than 5 trillion yuan (HK$6.22 trillion).

The combined audited value of the gross domestic product of 31 provinces totaled 57.69 trillion yuan in 2012, outpacing the preliminary reading of 51.93 trillion yuan as measured earlier by the National Bureau of Statistics.

This marks a record 5.76 trillion yuan gap - equal to the total output of Guangdong province last year, the Beijing-based China Youth Daily reported yesterday.

Since 1985, the GDP of each province has been measured by its respective authority and then all data has been tallied by the central government. But figures submitted by local administrations have surpassed those released by the NBS for the past few years.

Although the bureau and the Ministry of Supervision jointly cross checked local government data, the gap has widened.

Foreign brokerages have seemingly refused to believe official data about China's economic growth, which has already slowed.

JPMorgan expects the growth in the world's second-largest economy to ease from 8.3 percent on average in 2013-2015 to 6.6 percent during 2016-2020.

The pace of economic growth in the mainland is likely to ease in the future as its primary drivers of the past 20 years - investment and production - take a slide, the US investment bank said in a note yesterday.

Investment and production have contributed 4 percentage points and 3.1 percentage points, respectively, of the mainland's GDP in the past decade, the report said.

http://www.thestandard.com.hk/news_deta ... 30205&fc=2
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Tue Feb 05, 2013 5:34 pm

China police chief accused of having 192 houses

AFP - A Chinese police chief is alleged to have had at least 192 houses and a fake identity card, state media said, the latest in a number of similar cases that have sparked outrage online.

Zhao Haibin, a senior police official in Lufeng in the southern province of Guangdong, was reported by a businessman to have accumulated the properties under his name and his company's, the Guangzhou Daily said.

The businessman, Huang Kunyi -- who was involved in a dispute with the officer -- also said Zhao used a fake identity card to record a different name on company documents, the newspaper reported.

Authorities cancelled the false card after Huang's report in 2011, it added.

An official of the Communist Party's discipline department for Lufeng told AFP Tuesday that Zhao -- who is also the vice party secretary of a local county -- had been investigated but the inquiry was over and he retained his public offices.

According to the newspaper, Zhao said the properties were owned by his younger brother, a businessman, and that he was only "managing" them for him.

A separate report said Zhao or the company had 192 properties in the city of Huizhou, also in Guangdong, and others in the cities of Shenzhen and Zhuhai.

The case is the latest of a series of reports involving officials owning multiple houses with different identity cards and residence permits.

Gong Aiai, a vice president of a bank in the northern province of Shaanxi and a delegate to the local legislature, was reported last month to hold more than 20 houses worth nearly one billion yuan ($160 million), using four different residence permits and three identity cards.

She was detained by police Monday on suspicion of "forging official documents and stamps", the state-run Xinhua news agency reported.

The cases have sparked mounting criticism in Chinese social media over rampant graft and high home prices that are running out of reach of the average citizen.

"(I) finally realised that in China, properties are forever in the hands of a tiny number of people," said a user of China's Twitter-like Sina Weibo.

http://www.france24.com/en/20130205-chi ... 192-houses
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Sat Feb 09, 2013 5:35 am

Mainland's SOEs log slower profit growth

China's state-owned enterprises administered by the state-asset regulator saw profits increase 2.7 percent from a year earlier in 2012, official data showed on Friday.

The 116-strong enterprises made total profits of 1.3 trillion yuan (HK$1.6 trillion) last year, according to State-owned Assets Supervision and Administration Commission figures, Xinhua news agency reports.

The growth figure was down from 6.4 percent in 2011 and 40.2 percent in 2010, mainly due to poor performances of SOEs in shipment, building materials and steel businesses amid the economic slowdown, according to data.

However, it was up from the minus 11.8-percent growth in the first quarter of 2012, minus 16.1 percent in the second, and 2.1 percent in the third, showing a recovering trend.

The aggregate revenue of the SOEs increased 9.4 percent year on year to 22.5 trillion yuan last year, while they handed in 1.9 trillion yuan in taxation to the state coffers, a rise of 13 percent from a year earlier, data showed.


Source: The Standard HK
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Sat Feb 09, 2013 9:37 am

Clouds Gather as China Bulls Celebrate By Bert Dohmen

Foreign direct investment flows in December continued the one-year declining trend, down a hefty 4.5% for the month.


Note that the current freight rates are virtually at the crash lows of 2008, the depth of the global crisis. At that time, world trade came to a virtual standstill.


Andy Xie, a great observer of the Asian economic scene, writes in a recent report:

The statistics in emerging economies are not accurate. The GDP data in China and India, for example, do not reflect their 2012 slowdown.

My estimate is that the growth rate in emerging economies declined by half in 2012 from 2011. It could be seen in trade stagnation and weak commodity demand.

This concurs with our view that the emerging markets are very vulnerable right now. But that's where most analysts recommend investing.

However, governments can play their flim-flam game for a long time before the masses catch on. We are now of the view that the decision has been made at the highest levels in China to whitewash all official numbers, making everything look beautiful.

The statistics will continue to be positive for awhile and the negatives will be hidden.

Don't be fooled!


http://www.thestreet.com/story/11837074 ... brate.html
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Mon Feb 18, 2013 8:24 am

Crackdown puts bite on festive sales

Shop and restaurant sales in the mainland during the weeklong Lunar New Year festival rose at the slowest pace in four years as a government crackdown on extravagant spending by officials limited outlays on food and drink.

Retail sales at outlets monitored by the Ministry of Commerce increased 14.7 percent in the February 9-15 period from the year-earlier break to 539 billion yuan (HK$670.8 billion), according to a statement issued on Friday.

That was down from a 16.2 percent pace last year and the least since a 13.8 percent gain in 2009.

Sales may have been dampened by a campaign started by Vice President Xi Jinping, the new head of the Communist Party, to rein in lavish spending.

"The slower growth, manifested in the restaurant business, was partly a result of the government crackdown on corruption and the anti-waste campaign," said Leon Zhao, a Shanghai-based analyst at researcher Frost & Sullivan.

Candy Huang, a Hong Kong-based analyst with Barclays, said: "Steeper discounts, longer promotion periods and Valentine's Day falling during the 2013 festival were expected to help drive purchases, especially of gold and jewelry."

Jewelry sales jumped 38.1 percent over the weeklong break compared with a 16.4 percent increase in 2012, according to ministry figures.

Food sales rose 9.8 percent, down from a 16.2 percent pace the previous year.

The increase in garment sales slowed to 6.3 percent from 18.7 percent.

Source: BLOOMBERG
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Re: China - Economic Data & News 08 (Apr 12 - Mar 13)

Postby winston » Sun Feb 24, 2013 8:11 pm

China's 'cancer villages' pay price

China's environment ministry appears to have acknowledged the existence of so-called "cancer villages" after years of public speculation about the impact of pollution in certain areas.

For years campaigners have said cancer rates in some villages near factories and polluted waterways have shot up.

http://www.bbc.co.uk/news/world-asia-china-21545868
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