China Economy Forum

[darkhero]

Yuan Climbs to 19-Year High as Exports Surge, PBOC Raises Fixing - Bloomberg

Overseas shipments rose 5.1 percent from a year earlier in July after contracting 3.1 percent in June, official data showed today. That exceeded the median estimate of 2 percent growth in a Bloomberg survey. Imports (CNFRIMPY) advanced 10.9 percent, higher than the forecast of a 1 percent gain. The People’s Bank of China raised the daily fixing 0.04 percent to 6.1703 per dollar, the strongest since July 24.

.....more....

 

[cirr]

China's auto sales accelerate in July

THE ASSOCIATED PRESS

BEIJING -- China's auto sales accelerated in July but domestic brands lagged behind fast-growing global rivals in the world's biggest vehicle market, an industry group reported Friday.

Sales rose 10.5 percent from a year earlier to 1.2 million vehicles, according to the China Association of Auto Manufacturers. That was up from June's 9.3 percent growth and 9 percent in May.

The strong sales could come as reassurance to global automakers that are looking to China to drive revenues amid weakness elsewhere.

They add to signs China's deepest economic slump since the 2008 global crisis might be stabilizing.

Total vehicle sales, including trucks and buses, rose 9.9 percent to 1.5 million vehicles, according to CAAM.

German brands showed the strongest growth at 21.4 percent, the group said. Sales for China's domestic brands rose 5.8 percent.

Sales growth for Japanese brands accelerated to 17.6 percent from June's 16.5 percent, improving from a slump that began last year amid tensions between Beijing and Tokyo over ownership of uninhabited islands in the East China Sea.

Sales of American brands rose 13.6 percent.

Read more here: BEIJING: China's auto sales accelerate in July - Business Breaking News - MiamiHerald.com

 

[shuttler]

Sprinter 张培萌 Zhang Peimeng has set a new National record on Aug 11 in the IAAF World Championships, Moscow 2013. His run was clocked at 10:00 sec at the Men's 100m race

He is second in all time Asia records alongside Koji Ito 伊東 浩司 @ 10:00 sec. The leader in Asia's all time best record is Samuel Francis from Qatar at 9:99 sec

Zhang barely missed the final race regrettably ranking 9th best in qualifiers. He would have been the first Chinese to appear in the final of IAAF's Men's 100m race if he was qualified

 

[cirr]

Beijing-Fuzhou HSR Update

August 12th

North Mount Wuyi tunnel is dugged through

North Mount Wuyi tunnel, 14.646km long, is the critical project of Beijing-Fuzhou HSR. It's located at Mount Wuyi across Jiangxi and Fujian Provinces.

Beijing-Fuzhou HSR is scheduled to open in March 2015. Beijing to Taiwan Strait in 6 hours！

Two great Chinese cities，Hangzhou and Shenzhen, to be linked by 2 HSR lines in a couple of years, with the 1st (coastal) line openning end of this year or early next:

 

[cirr]

Hefei-Fuzhou HSR to open at the end of 2014

The construction of the HSR network continues apace.

 

[cirr]

China HSR Map as of July 1st 2013:

More lines, many more, will be added to by the end of 2013 and in years to come.

 

[cirr]

Expressways opened this year by 4/11/2013

1.31 Boluo-Shenzhen expressway S27 博深高速, Guangdong Province
63.2km, project started in June 2009, the expressway crosses the cities of Huizhou, Dongguan and Shenzhen

2.6 Hulei-Chengguan expressway 永定湖城高速公路, Fujian Province
16.52km, a connection line

2.6 Baoshan-Tengchong expressway 保腾高速, Yunnan Province
63.8km, 6.372 billion yuan (Longjiang Bridge 1.46 billion), it largely shortens the travel time between Kunming to South Asia (Myanmar, India)

3.31 Bazhong-Nanchong expressway S2 巴南高速, Sichuan Province
116km, a busy route connecting two major cities of Suchuan.

4.2 Guilin-Xing'an expressway 桂林至兴安高速, Guangxi Province
53km

4.3 Yulin-Beihai expressway 玉铁高速, Guangxi Province
174.46km, a connection line, it makes Guangxi Province expressway length over 3000km

4.3 Yunhe-Jingning expressway 云景高速, Zhejiang Province
13km, 1.4128 billion yuan (a 6.7km Xizhouling tunnel), the main purpose of this expressway is to boost the poor area's economy and tourism

4.9 Liujing-Qinzhou Harbor 六景至钦州港高速, Guangxi Province
139.1km, 6.54 billion yuan, it connects the industrial park and harbor.

Expressways opened since late June 2013

6.25 Longquan-Qingyuan expressway 龙庆高速 G25, Zhejiang Province
54.764km, 1.57 bln yuan

6.28 Zhunyi-Meitan Expressway 遵湄高速 G56, Guizhou Province
56km

6.28 Daxing-Sinan Expressway, 大思高速 G56, Guizhou Province
151.4km, 13.53 bln yuan

6.29 Bijie-Weining expressway 毕威高速 H2， Guizhou Province
125.504km, 8.977 bln yuan

7.3 Ningbo Airport Expressway south extension, Zhejiang Province
4.43km, 1.3 bln yuan

7.9 Meitan-Fenggan Expressway 湄潭至凤冈高速 G56, Guizhou Province
36km

7.24 Kaiyuan-Mengzi section of Suolongsi-Megzi Expressway 锁蒙高速 GZ40, Yunnan Province
46.3km

7.30 Anmen-Gulang section of G30 Lianyungang-Khorgas Expressway, Gansu Province
42.833km, including 5 tunnels, tunnel length 21.9km

7.31 Fuxin-Panjin Expressway S21, Liaoning Province
95.476km

7.31 last section of Shenyang Ring Road G1501, Liaoning Province
81.88km, 1.2 bln yuan

G56 Zhunyi-Meitan sections opened on June 28

 

[cirr]

Expressway Map of China

With some 3 million residents, Tibet is way too sparsely populated to have need for expressways？？

 

[cirr]

China plans to invest at least 4 trillion yuan($655 billion) by 2020 in urban rail construction

Caijing | 2013-8-13 16:34:17

By Agencies

Chinese governments have ramped up investments in urban rail network constructions with local economic planning agencies fast tracking approvals of plans to boost growth in the world's second-largest economy.

Local bureaus of the National Development and Reform Commission in over 10 cities have granted approvals to build or extend local urban rail networks in recent months.

That, combined with previous plans by 2020, totaled some 4 trillion yuan in urban rail investment with the network extending to nearly 6,000 kilometers, the 21st Century Business Herald reported, citing Hua Maokun, former chief engineer of the defunct railway ministry.

Local NDRC agency in the megacity of Chongqing in central China announced over the weekend a plan to start construction of a new urban rail before the end of this year.

The project, with an estimated investment of 31.4 billion yuan, was the first organized by Chongqing following July's decentralization. Previously only the central government has the right to approve local rail network construction plans.

The city is also planning to extend an existing subway line, starting within the year and is expected to attract roughly 4.1 billion in investment.

A municipal tramcar line will be built in the southern city of Zhuhai with an estimated investment of 850 million yuan. In the western province of Gansu, some 18.9 billion yuan will be invested to build a subway line in its capital city of Lanzhou. Similar projects are being considered or approved in other cities including Hangzhou in Zhejiang Province, Huainan (Jinagsu), Wuhan (Hubei) and Changsha (Hunan), according to the newspaper.

China's State Council, the cabinet, said in late July that it planned to boost infrastructure construction in cities, with rail network one of the major areas.

The State Council meeting, chaired by Premier Li Keqiang, also vowed policy support to expand financing channels by attracting private investments.

Nearly all the cites, meeting the central government's requirements for railway network, are planning or building subway lines, said Wang Mengshu, a member of the Chinese Academy of Engineering. Wang was reportedly shuttling from one city to another, almost non-stop, offering advice to local governments.

A total of 36 local cities have approved plans to build subway lines, said Hua Maoun, estimating that by 2020 the country will have a rail network of nearly 6,000 kilometers in total.

That is in line with NDRC's expectation. An official with the NDRC told media the country will expand city rail network to 3,000 by 2015 and 6,000 by 2020, with combined investment at 3-4 trillion yuan.

In 2013 only, investment in rail network will expand 40 billion from last year to 220 billion yuan, according to calculations by the NDRC.

China plans to invest at least 4 trillion yuan by 2020 in urban rail construction - CHINA - BUSINESS - Globaltimes.cn

 

[cirr]

August 15th, 2013

China to invest $375 billion in energy saving industries to tackle pollution

China's State Council announces plans to make green industries central to the economy by 2015

China is to invest in energy saving technologies including solar energy in an attempt to tackle pollution. Photograph: Chris Ison/PA

China is to fast-track expansion and investment in energy saving technologies in an attempt to tackle its worsening pollution problems.

China's cabinet, the State Council announced plans on Sunday to make the energy saving sector a "pillar" of the economy by 2015. In a statement the council said that under the new plan the environmental protection sector will grow by 15% on average annually, reaching an output of 4.5 trillion yuan (£474 billion).

China's massive economic growth has come at a major cost to its environment and even its environmental ministry has described the country's environmental situation as "grim".

Under the plan, environmental protection industries will receive funding from the government in an effort to stimulate technological innovation. The funding will cover a wide range of technologies that address air, water and soil pollution including energy saving products, waste disposal, electric vehicles and pollution monitoring.

Many analysts welcomed the plan and some were quoted in the Chinese media as saying that it will create opportunities for investors and will give direction to the industry.

"It's good to see this and it's an indication that development of environmental protection and energy saving industry is a priority, since it's coming from the State Council," said Alvin Lin, China Climate and Energy Policy Director with the Natural Resources Defense Council in Beijing. The plan also includes policies, standards, pilot programmes, financing mechanisms and incentives, emissions and carbon trading said Lin.

However Lin believes that the plan is "vulnerable to being so broad as to be lacking focus and hard to implement.

"I think it could discuss more on the importance of implementing standards and policies in order to create the demand for the energy saving and environmental protection market, and the importance of accurate measurement and public reporting to ensure standards are met," he said.

Ailun Yang, a senior associate with the World Resources Institute, said the initiative is "encouraging". "It shows the ambition of the Chinese government to tackle its growing environmental problems while making the country the world's biggest manufacturer of the environmental protection technologies." She added however that more details need to be known before it is possible to assess the effectiveness of the new plan.

Tackling pollution has been a priority of the new administration under Xi Jinping, especially as pollution has become a major concern among Chinese citizens and is one of the main causes of social unrest. In an effort to tackle the problem, China has also committed to reducing its carbon emissions per unit of GDP by 40-45% by 2020 from 2005 levels and is aiming to increase renewable energy to 15% of its total energy consumption.

"Going forward, I think it would be important to develop a yearly inventory of various energy saving and emissions reduction products and services to get a more accurate idea of the growing size of the industry and the economic value and green jobs created, to demonstrate the economic benefits of improving the environment," said Lin.

The announcement that funding will be available to environmental protection industries may help China's ailing solar industry. In recent years the Chinese solar industry has been struggling with overcapacity, international trade disputes and slowing global demand.

"The problem with the solar industry is that China didn't have a strong domestic market while the manufacturing capacity of the Chinese solar industry was overwhelming," said Yang. The new plan should prioritise creating an "enabling environment and support the development of domestic market," she said.

http://www.theguardian.com/environm...g/14/china-investment-energy-saving-pollution

 

[SR-91]

China Lies Says Eaton CEO: Economy Grew Only 3-4% In 2012

When it comes to estimates of China's growth rate, we could go with the local politburo propaganda which even China itself has admitted is goalseeked worthless drivel fit "only for reference", or we could listen to a megacap CEO, who actually is on the ground and whose business model depends on accurately predicting the underlying economic reality of the world's biggest nation. We chose the latter, in which case we now know that China's 2012 GDP growth was only 3-4%, half the reported 7.8%.

From Bloomberg:

Based on indicators such as consumer consumption and electric power usage, China’s gross domestic product probably grew 3 percent to 4 percent last year, Eaton Corp. Chief Executive Officer Sandy Cutler said yesterday in a telephone interview. Growth is accelerating now that China is past the distractions from its leadership change, he said.

“That’s what we and so many multinational companies have been feeling there in China for the last year and a half, the economy really hasn’t been growing at 7 or 8 percent,” Cutler said. “If we could get back to an 8 percent growth rate in China for 2013, that would be a pretty darn good year.”

His skepticism about the data echoes complaints from economists such as Li Wei of Standard Chartered Plc in Shanghai that China had inflated third-quarter growth before the November congress where the ruling Communist Party had its decennial transfer of power. Cutler runs a manufacturer that got more than half its 2012 revenue of $16.3 billion from outside the U.S.

Mark Williams and Qinwei Wang, economists with Capital Economics Ltd. in London, wrote in October that China’s third- quarter economic growth of 7.4 percent was “implausible.” Standard Chartered said in October its analysis indicated the economy expanded 6.5 percent in the quarter.
So yes, China lied... again, and as always


China Lies Says Eaton CEO: Economy Grew Only 3-4% In 2012 | Zero Hedge

 

[shuttler]

China Lies Says Eaton CEO: Economy Grew Only 3-4% In 2012

When it comes to ...

China Lies Says Eaton CEO: Economy Grew Only 3-4% In 2012 | Zero Hedge

China's economy continues to slow, but still remains strong
Peter Ryan reported this story on Monday, July 15, 2013

The World Today - China's economy continues to slow, but still remains strong 15/07/2013

ELEANOR HALL: The latest official economic data from China has confirmed that the Chinese economy is continuing to slow.

But the result is not as dire as some were predicting, with the pace of the world's second-biggest economy coming in at a stellar 7.5 per cent.

Joining us now with the details is business editor, Peter Ryan.

So Peter, how important are these figures in giving us a picture of the true state of China's economy?

PETER RYAN: Well Eleanor, this was the morning's big event - highly anticipated, given that the world's second-biggest economy is in the midst of a managed slowdown.

There was little doubt that second quarter GDP (gross domestic product) would slow - the question was "by how much?", and the result was in line with forecasts down to 7.5 per cent. It fell from 7.7 per cent, and that's the second straight quarter of decline

Some investors had expected worse given the pretty poor economic indicators that we've been seeing out of China recently, but 7.5 per cent in line with expectations, and so a lot of people appear to be happy and a bit more relaxed about that.

ELEANOR HALL: So is this a sign that China is not heading for any sort of hard landing?

PETER RYAN: Well, it's not heading for a hard landing, but there are questions about how quickly Chinese authorities will have to move to ensure that it doesn't overheat.

But looking at the GDP figures today, 7.5 per cent - even though down from 7.7 per cent - China's economy is still flying.

You look at urban investment is still growing at a rate of 20.1 per cent; industrial output is growing at a pace of 8.9 per cent, and retail sales year on year at 13.3 per cent.

Our retail sales are growing at less than 2 per cent.

So the economy in China remains very strong, but just how long that pace can be sustained is the big question.

ELEANOR HALL: And of course, the Chinese economy has a big impact on the Australian economy - how did the Australian dollar react?

PETER RYAN: Well because the result was less worse than expected or in line with expectations, the Australian dollar rose.

It was trading earlier this morning around about 90.5 US cents, and a short time ago back up over 91 cents at 91.01 US cents. So a sign of confidence; some sighs of relief that Australia's trading partner, China, remains strong and that, for now, demand for Australia's resources will remain steady




Oil price steady around $106 after strong Chinese economic indicators, eyes still on Fed 』
[2013-8-13]

Oil price steady around $106 after strong Chinese economic indicators, eyes still on Fed - ECF Your Window On China Energy Market

The price of oil stabilized Monday after enjoying big gains last week, when improved Chinese economic data suggested demand for crude might increase.

Benchmark oil for September delivery was up 1 cent to $105.98 a barrel in electronic trading on the New York Mercantile Exchange. The contract had jumped $2.57, or 2.5 percent, on Friday, when Chinese industrial production implied the world's second-largest economy is not slowing as quickly as some had feared.

"I think we're seeing a bit of upward momentum from China," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

Spooner also said traders were looking ahead to Thursday, when the U.S. government releases inflation figures for July.

The U.S. Federal Reserve has a target of 2 percent for inflation. The fact that inflation is falling below that target has prompted some Fed officials to be concerned about a potential bout of deflation, which could be harmful to economic growth.

Lower-than-anticipated inflation could cause the Fed to delay the scaling back of its stimulus program, which was launched more than four years ago to help the world's biggest economy weather the fallout from the global financial crisis.

In June, Bernanke said the Fed will likely slow its bond-buying this year and end it in 2014 because the economy is strengthening.

In other energy futures trading on Nymex:

— Heating oil rose 0.3 cents to $2.9967 a gallon.

— Natural gas rose 3.5 cents to $3.265 per 1,000 cubic feet.

— Wholesale gasoline fell 0.5 cents to $2.9037 a gallon.
(startribune.com Aug 12, 2013)

 

[Sashan]

Beijing, Aug 15:

China has soared almost to the top of the world’s economic league tables, but whether the official data underpinning its status can be trusted is a constant headache, analysts say.

Simmering unease regarding China’s economic figures has taken on new meaning in recent months with discrepancies in some statistics and questions over just how much gross domestic product is really growing.

Earlier this year, economists took issue with Chinese monthly trade statistics, which diverged wildly from expectations, and two weeks ago official and private purchasing managers surveys — a key measure of manufacturing — surprisingly pointed in opposite directions.

Doubts have also been raised about how inflation is calculated.

“If there was an index for suspicion about China’s official statistics, it would be off the charts, or to use the technical American term, ‘crazy bad’,” Standard Chartered economist Stephen Green wrote in a report.

No less an authority than China’s new premier Li Keqiang has expressed doubts on the issue.

Leaked US diplomatic cables show that as the top official in Liaoning province in 2007, he told the then US ambassador that some Chinese data was “man-made” and thus unreliable.

When evaluating the provincial economy, Li said he focused on only three figures — electricity consumption, rail cargo volume, and the amount of loans issued, according to a confidential memo released by the WikiLeaks website in late 2010.

“All other figures, especially GDP statistics, are ‘for reference only,’ he said smiling,” according to the cable.

China officially overtook Japan as the world’s second-largest economy in 2010, and analysts say it is only a matter of time before it knocks the United States off the pedestal it has held for more than a century.

But when that day finally comes, can the data be believed?

Michael Pettis, a finance professor at Peking University and a senior associate at the US-based Carnegie Endowment, said that among China economists, “no one” found Li’s purported comments surprising.

“I mean, we’ve been told this many, many, many times by government officials,” he told AFP.

“There’s a lot of problems in China. One is that there’s a perception that the numbers have political incentives embedded in them.”

China calculates monthly and annual data far more quickly than France, a much smaller economy believed to have much higher quality data, he noted.

How real is China

 

[Genesis]

Very fake, india has surpassed us 20 years ago, we are at least 100 years behind if not more.

 

[Sashan]

Very fake, india has surpassed us 20 years ago, we are at least 100 years behind if not more.

What has India got to do with this post? Because you see India flag in my profile? And Chinese-Dragon thanking you for your trolling is epic.