China Economy Forum

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Economic downshift bites into China's 2012 fiscal revenues


BEIJING, Jan. 22 (Xinhua) -- China's fiscal revenue growth slowed sharply in 2012 due to an economic downshift and tax breaks, the Ministry of Finance (MOF) said Tuesday.

National fiscal revenues rose 12.8 percent year on year to 11.7 trillion yuan (1.9 trillion U.S. dollars), with the growth rate dropping 12.2 percentage points from a year earlier, the MOF said in a statement.

The ministry attributed the slowdown to a softening economy, weakening corporate profits, milder inflation and structural tax breaks.

Of the total fiscal revenues, tax revenues reached 10.1 trillion yuan, up 12.1 percent from a year earlier, but the growth rate was down 10.5 percentage points from the 2011 level.

Fiscal revenues in China include taxes, as well as administrative fees and other government income, such as fines and income from state-owned assets.

Revenues from value-added taxes increased 8.9 percent to 2.6 trillion yuan, while those from business taxes went up 15.1 percent to 1.6 trillion yuan.

Corporate income tax revenues gained 17.2 percent year on year to 2 trillion yuan.

Individual income tax revenues dipped 3.9 percent to 582 billion yuan, affected by the government's move in September 2011 to raise the threshold at which individuals must pay income taxes from 2,000 yuan to 3,500 yuan.

The central government collected 5.6 trillion yuan in fiscal revenues in 2012, up 9.4 percent year on year, while local governments saw fiscal revenues grow 16.2 percent to 6.1 trillion yuan.

On a quarterly basis, China's fiscal revenue growth recovered to 19.9 percent in the fourth quarter of 2012 from 14.7 percent in the first quarter, 10 percent in the second and 8.1 percent in the third quarter.

The fourth-quarter rebound was mainly caused by a low base in the same period of 2011, the MOF said.

China's economic growth quickened to 7.9 percent in the fourth quarter of 2012, ending a seven-quarter slowdown after the government cautiously eased its monetary policy and fast-tracked investment projects.

However, impacted by the faltering global economy and a cooling domestic property market, the world's second-largest economy still recorded its slowest annual growth rate since 1999, expanding 7.8 percent in 2012.

The government has vowed to maintain a proactive fiscal policy and prudent monetary policy in 2013.

The country's total fiscal expenditures climbed 15.1 percent year on year to 12.6 trillion yuan in 2012, according to MOF data.

Spending on education recorded the fastest growth, surging 28.3 percent to 2.1 trillion yuan.

The central government spent 6.4 trillion yuan in 2012, including 4.5 trillion yuan in tax rebates and transfer payments given to local governments.

Local governments saw outlays rise 15.3 percent to 10.7 trillion yuan in 2012, the MOF data showed.

 

[shuttler]

Gini coefficient release highlights China's resolve to bridge wealth gap

By Yang Lina

English.news.cn 2013-01-19 06:31:59

Xinhuanet.com

BEIJING, Jan. 21 (Xinhuanet) -- China's first release of the Gini coefficient for the past decade demonstrated the government’s resolve to bridge the gap between the rich and poor.

The Gini coefficient, a widely used measure of economic inequality, reached 0.474 in China in 2012, higher than the warning level of 0.4 set by the United Nations, according to the National Bureau of Statistics (NBS).

The rich-poor index has been retreated gradually since hitting a peak of 0.491 in 2008, dropping to 0.49 in 2009, 0.481 in 2010 and 0.477 in 2011, Ma Jiantang, director of the NBS, told a press conference Friday.

The index stood at 0.479 in 2003, 0.473 in 2004, 0.485 in 2005, 0.487 in 2006 and 0.484 in 2007.

The latest release marked the first time China announced an official broad-based Gini coefficient since 2000.

URGENT NEED FOR INCOME DISTRIBUTION REFORMS

Despite year-by-year retreat, the Gini coefficient has stayed at a relatively high level of between 0.47 and 0.49 during the past decade. "The statistics highlighted the urgency for our country to speed up the income distribution reforms to narrow the wealth gap," Ma said.

An index reading between 0.3 and 0.4 means the rich-poor gap is relatively reasonable, according to an UN organization.

The NBS has not released the Gini coefficient for the entire country in the past due to a lack of unified survey standards in rural and urban areas.

Last December, the NBS adopted unified statistical standards and indicators for collecting data from urban and rural residents, and calculated the Gini coefficient for 2012.

The bureau also adjusted historical data based on the new standards and came up with the coefficients for 2003 to 2011, the official added.

The average income of urban residents is about three times that of rural people. While in urban areas, the average income of high-income group is about four times that of the low-income group, according to Ma.

The average per capita disposable income of urban residents in 2012 was 24,565 yuan, while the average per capita net income of rural residents was 7,917 yuan, with the income ratio reaching 3:1, according to the NBS.

After dividing the urban residents into five groups according to their incomes, the average income of the highest-earning group reached 51,456 yuan, almost five times that of the lowest-earning group with the average income of 10,354 yuan.

"China's Gini coefficient is relatively high compared with the warning level of 0.4, reflecting the severity of the yawning wealth gap," said Wang Jun, an economist at the China Center for International Economic Exchanges, an elite think tank in Beijing.

"Generally speaking, efforts should be redoubled to carry out reforms so as to narrow the rich-poor gap and prevent the country stepping into the 'middle-income trap'", he added.

GOVERNMENT TAKES ACTION

The official release of the Gini coefficient not only met the public appeal, but also will serve as evaluation criteria for income distribution reforms that are in the offing.

Bai Jingming, deputy director of the Research Institute for Fiscal Science, said the inequality index provides an objective statistical account for evaluating the complicated social issue, and it will serve as a foundation for the government's policymaking.

With the rapid economic growth since the reform and opening-up policy was adopted, the widening wealth gap between urban and rural areas and among different regions and social stratas has increasingly become an outstanding social problem.

And what's worse, behind the yawning gap are inequality in education, employment and public services and the unfair and illegal ways to become rich such as corruption and monopoly.

Aware of these pressing problems, China has vowed to double the country's 2010 gross domestic output (GDP) and per capita income for both urban and rural residents by 2020, according to the 18th National Congress of the Communist Party of China in November.

But Ma said that only doubling the GDP and per capita income is not enough. "China should make endeavors to better distribute the cake of its economic growth while trying to make it bigger, and strive to make the incomes of low- and middle-income residents grow faster."

To this end, the Chinese government has taken a slew of measures including improving the social security system, raising the individual income tax threshold and capping the salaries of senior executives at state-owned enterprises.

The country has also encouraged economic development in the central and western regions to benefit local residents.

In addition, recent prompt investigations into and punishment of officials abusing their power to seek improper profits demonstrated China's determination to fight corruption and eradicate illegal income.

Meanwhile, more efforts, experts say, should be made to solve the income disparity through institutional reforms such as breaking monopoly, wiping out "grey income," improving residents' employability and ensuring equal opportunities.

Only in this way can more people share the fruits of China's fast economic growth.

 

[sweetgrape]

US is No.1.

The GDP of India in 2012 is about 1.7 trillion, Brazil is about 2.2 trillion!!

 

[Princess]

The Port of Shenzhen is the 4th busiest container port in the world.

It is located in the southern region of the Pearl River Delta in China's Guangdong province. It is the economic hinterland for Hong Kong trade with the Mainland and also one of the most important port in terms of China's international trade.

The port is home to 39 shipping companies who have launched 131 international container routes. There are 560 ships on call at Shenzhen port on a monthly basis and also 21 feeder routes to other ports in the Pearl River Delta region.

In 2012, its throughput was 21.72 million TEU for container.

 

[Chinese-Dragon]

I remember back when I was in secondary school (in HK), we took a class trip to Shenzhen and our teachers told us that "Shenzhen is the future".

Though interestingly, today it is actually Shanghai that is the busiest container port in the whole world. Followed by Singapore, Shenzhen and Hong Kong.

 

[Princess]

I remember back when I was in secondary school (in HK), we took a class trip to Shenzhen and our teachers told us that "Shenzhen is the future".

Though interestingly, today it is actually Shanghai that is the busiest container port in the whole world. Followed by Singapore, Shenzhen and Hong Kong.

Port of Shanghai is the main port of imports, and Port of Shenzhen is the main port of exports

 

[shuttler]

The GDP of India in 2012 is about 1.7 trillion, Brazil is about 2.2 trillion!!

I am not surprised in that at all since Brazil is a better country.

The GDP of India in 2012 is about 1.7 trillion, Brazil is about 2.2 trillion!!

I am not surprised in that at all since Brazil is a better country. Brazillians seem to know their priorities a lot better.

 

[shuttler]

Life expectancy in Shanghai exceeds 82 years

Updated: 2013-01-25 16:54 ( chinadaily.com.cn)

Chinadaily

Shanghai's average life expectancy exceeded 82 years last year, the local health authority said on Thursday.

The average lifespan of Shanghai residents was 82.41 years in 2012, while the city's maternal mortality rate stood at 7.10 per 100,000, compared to 7.36 per 100,000 in 2011.

The infant mortality rate dropped to 5.04 per 1,000 from 5.7 in 2011, the Shanghai Health Bureau said.

Last year's maternal mortality and infant mortality rates were the lowest in the city's history.

Life expectancy, along with maternal and infant mortality rates are the three main indicators of a city's medical standards and people's living standards. A Shanghai official said all three figures in the city are in line with those in developed countries.

A total of 239,600 babies were born in Shanghai last year, the most for the past 10 years, with Chinese believing the Year of the Dragon represents good fortune.

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Women's average life expectancy in Shanghai reached 84.8

Updated: 2013-01-16 16:19 By Wu Ni in Shanghai ( chinadaily.com.cn)

Chinadaily

The average life expectancy of women in Shanghai was at 84.8 years in 2011, 4.5 years more than that of men and equal to that of developed countries.

The figures were released at a conference of the Shanghai Municipal Women and Children Committee on Jan 15, according to the Oriental Morning Post.

In addition, the maternal death rate for women living in Shanghai was 7.36/100,000, and the infant mortality rate was 5.7 percent. The mortality rate for children under five in the city was 3.62 percent.

In 2012, the local health authority organized free health checks for gynecological and mastopathy diseases for more than 530,000 retired women and economically disadvantaged women. More than 20,000 couples eligible to give birth to one child were offered free pre-pregnancy health checks.

The key health indicators in 2012 show that Shanghai residents' health maintained the average standard of developed countries and regions in the world, according to data released at the conference.

The city pledged to continue improving health care for women and children in 2013, including carrying out projects like free disease screenings for newborns and free health checks for children under 6.

wuni@chinadaily.com.cn

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Life expectancy of Beijingers reaches 81.12 years
Updated: 2012-06-14 19:15 ( Xinhua)

Chinadaily

BEIJING - The average life expectancy of Beijing residents with a hukou, or household registration, reached 81.12 in 2011, which is 0.31 years older than that of the previous year, local authorities said Thursday.

According to a report released by the municipal health bureau, the average life expectancy of males was 79.16, and that of females stood at 83.17.

Additionally, the infant mortality rate in Beijing was 2.84 per thousand births, 13.7 percent lower than that of 2010. The maternal mortality rate was 9.09 per 100,000 births, down 25.1 percent year on year.

The top three causes of death for Beijing residents in 2011 were malignant tumor, heart disease and cerebrovascular disease.

Fang Laiying, head of the health bureau, said chronic diseases are closely related to poor living habits.

The Information Office of the State Council on Monday released the National Human Rights Action Plan of China (2012-2015), saying that China will work to increase citizens' average life expectancy to 74.5 years by 2015.

The government vowed to first establish a basic medical and health system that covers the entire nation, then improve the medical insurance system, public health service system and medical care system to protect the citizens' right to health services.

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Chinese life expectancy to hit 75.8 years by 2015
Updated: 2012-10-19 19:29 ( Xinhua)

Chinadaily

BEIJING - The average life expectancy for Chinese will reach 75.8 years by 2015, one year longer than the average of 74.8 years recorded in 2010, according to a health care development plan issued on Friday.

Public health has improved since the last Five-Year Plan period (2006-2011), with significant progress made in multiple health care sectors, according to the 12th five-year plan for health care development published by the government on Friday.

According to the plan, a national medical and health system will be formed by 2015, allowing all Chinese to have access to basic public health care services.

 

[cirr]

CRH-380C in mass production：

 

[Abii]

Guys, sorry to derail the thread slightly, but I don't know where else to ask. I'm looking for a specific Chinese smart phone but it's not available here yet. Can you show me a Chinese site that sells this phone?

It's called Oppo Find 5.

I really want this phone. It has the best specs for the price. My alternative is HTC Droid (600$ plus or Sony Xperia Z which is at least 750-800 dollars). This is the same technology and I rather have this.
@cirr
@shuttler
@Chinese-Dragon
@sweetgrape

 

[cirr]

Guys, sorry to derail the thread slightly, but I don't know where else to ask. I'm looking for a specific Chinese smart phone but it's not available here yet. Can you show me a Chinese site that sells this phone?

It's called Oppo Find 5.

I really want this phone. It has the best specs for the price. My alternative is HTC Droid (600$ plus or Sony Xperia Z which is at least 750-800 dollars). This is the same technology and I rather have this.
@cirr
@shuttler
@Chinese-Dragon
@sweetgrape

Hope this helps：

¡¾OPPOX909¡¿OPPO Find5 X909 32G°æ 3GÊÖ»ú£¨°×É«£©WCDMA/GSM ¡¾ÐÐÇé ±¨¼Û ¼Û¸ñ ÆÀ²â¡¿

2998RMB（16G）
3298RMB（32G）

Available from 29th Jan. 2013.

 

[shuttler]

85 medical research findings awarded in China

English.news.cn 2013-01-27 23:04:42

Xinhuanet

BEIJING, Jan. 27 (Xinhua) -- A total of 85 Chinese research findings in medical and health field have received the country's most authoritative scientific awards for their inventions in the field, Chinese Medical Association (CMA) announced on Sunday.

The Chinese Medical and Technology Award, approved by the Ministry of Health and the Ministry of Science and Technology in 2001 and set up by the CMA, was the highest annual award in the medical and health field.

Among the eight first prize winners was a mini-invasive treatment research and its clinical application for fracture, which will be qualified to pursue higher prizes such as the national awards for natural science or technological invention.

Twenty-five findings including the application of proteome in the treatment of some critical illness packaged the second prize, with the rest being awarded the third prize.

The establishment of the award aims to strengthen scientific and technological innovation capacity and bring more technology benefits to the people. To date, 943 achievements in the field have won the title.

 

[shuttler]

China's first luxury liner cruises into service
2013-01-28 13:12
By (chinadaily.com.cn)

Henna, the first passenger cruise liner from the Chinese mainland, begins its maiden voyage from Sanya in Hainan province to Halong Bay in Vietnam on Jan 26, 2013. Henna will return to Sanya on Jan 28. The voyage marks the first liner from the Chinese mainland formally entering the cruise tourism market. Henna is 223 meters long, 31 meters wide, has 739 passenger cabins which can accommodate 1,965 people. The ship boasts a restaurant, duty free shop, theater, banquet hall, meeting rooms, bars,
swimming pools, spa and fitness center. [Photo by Huang Yiming/Asianewsphoto]

Performers pose for a photo at a ceremony to mark the maiden voyage of the cruise liner Henna from Sanya, on Jan 26, 2013. [Photo by Huang Yiming/Asianewsphoto]

 

[cirr]

That's a cool 8.7 billion dollars investment in China from Samsung Electronics in a short span。

Samsung Group as a whole is investing on a far larger scale in China during the same period。

Samsung to invest further $1.7 billion in China

Summary: The South Korean electronics giant plans to continue investment in China by expanding its manufacturing facilities in Kunshan.

By Charlie Osborne for Between the Lines | January 28, 2013 -- 11:13 GMT (03:13 PST)

Samsung will be investing $1.7 billion to outfit and expand operations within Kunshan, greater Suzhou, China.

According to Reuters, Kunshan is a fast-growing manufacturing hub which currently contained over 250 supplier networks. Samsung is currently building a chip development and manufacturing facility in the northwestern Chinese city Xi'an worth $7 billion, but the latest round of investment will go towards workshops, equipment and the construction of research institutes to expand the original plant, which was set up in 2008.

Samsung will be using the new facilities to support "chip carrier related projects," and they will mainly be operated by the electronics firm's mechanics subsidiary.

In order to stay ahead of the game in the tech industry, Samsung has been poring money into a number of investment projects. In addition to Kunshan, the electronics maker was given the go-ahead to invest $3.9 billion in a chip-making facility in Texas, bringing the plant's overall investment to $13 billion since its launch.

The firm recently overtook Apple to become the world's largest buyer of semiconductors including chips, memory and processors, according to research from Gartner.

Samsung to invest further $1.7 billion in China | ZDNet

 

[shuttler]

AP1000核電站安全殼浙江吊裝就位
2013年01月29日22:53 來源：中國新聞網

AP1000 nuclear power plant containment Zhejiang hoisting
Jan 29, 2013 22:53 Source: China News

People.com.cn

Photo credit: zjnews

中新社台州1月29日電 (記者 汪恩&#27665

安全殼是核島的關鍵設備之一，也是核電站的標志物。29日，浙江三門一號核島上，中國核建中原建設有限公司將總重約為830噸的安全殼頂封頭一次性吊裝就位，標志著中國內首個AP1000依托項目核電站的建造取得了重大進展。

　　AP1000安全殼直徑約40米，高約66米，總重約3400噸，是由底封頭、筒體四環和頂封頭組焊而成的圓柱體。AP1000核電是中美能源合作的最大項目，是全球先進的第三代核電站。三門一號機組是全球首個AP1000反應堆。

　　記者了解到，三門核電站是浙江省第二座核電站，安裝有全球首批第三代核電AP1000機組。核電站總佔地面積740萬立方米，可分別安裝6台100萬千瓦核電機組(AP1000)。全面建成后，裝機總容量將達到1200萬千瓦以上，超過三峽電站總裝機容量。一期工程總投資250億元，將首先建設兩台目前國內最先進的100萬千瓦級壓水堆技術機組。預計最快將在2014年前后發揮作用。

　　據媒體報道，盡管2011年福島核事故以后，中國暫停了所有的核電站建設項目進行審查，但2012年10月24日，國務院討論通過《能源發展“十二五”規劃》、《核電安全規劃(2011-2020&#24180》和《核電中長期發展規劃(2011-2020&#24180》，正式提出穩妥恢復核電正常建設。目前，全球共64座在建核電站中，中國有26座。

　　據悉，接下來核電站將繼續按計劃進行施工作業

China news agency, Taizhou, January 29 (Reporter Wang Enmin) -

Containment is one of the key equipment of the nuclear island, is also a nuclear power plant markers. 29, the the Zhejiang Sanmen One nuclear island, China Nuclear Construction Zhongyuan Construction Co. will total weight of about 830 tons containment top head disposable hoisting the first AP1000 relying project of the construction of nuclear power plants in the marks made ​​significant progress.

The AP1000 containment diameter of about 40 meters, about 66 meters high with a total weight of about 3400 tons, by the end of the head, the cylinder of Victoria and the top head group welded cylinder. AP1000 nuclear power is the largest project of Sino-US energy cooperation, is the the global advanced third-generation nuclear power plant. The three Unit One is the world's first AP1000 reactor.

This reporter has learned, the Sanmen Nuclear Power Plant is the second nuclear power station in Zhejiang Province, installed the world's first third generation AP1000 nuclear power units. The nuclear power plant covers an area of ​​7.4 million cubic meters were installed 6 units of one million kilowatts of nuclear power generating units (AP1000). Fully completed, the total installed capacity will reach 12 million kilowatts, more than the total installed capacity of the Three Gorges Power Station. A total project investment of 25 billion yuan, will be the first building of the two most advanced units of million-kilowatt pressurized water reactor technology. Expected to play a role in the 2014.

According to media reports, after the Fukushima nuclear accident of 2011, China suspended all nuclear power plant construction project review, October 24, 2012, the State Council discussed and adopted the "energy development" 12th Five-Year Plan "," nuclear safety planning (2011-2020) "and" long-term nuclear power development plan (2011-2020) ", the official presentation of the safe recovery of the normal construction of nuclear power. Currently, 64 nuclear power plants under construction, 26.

It is reported that the next nuclear power plants will continue according to plan construction operations.

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PS：The circumference of the above cap = length of 80 people each holding the other's 2 extending hands
The thickness of the steel cable = the size of the thigh of a footballer