China Economy Forum

[Aepsilons]

Best of luck to the country.

 

[TaiShang]

Chinese brokerages post big profits in 2014
Source:Xinhua Published: 2015-2-22 13:53:12

Chinese brokerage firms saw surging profits in 2014 boosted by easing measures from policymakers, the Securities Association of China (SAC) said.

Combined net profits of 120 brokerage firms totaled 96.55 billion yuan (15.78 billion US dollars) in 2014, surging 119.34 percent from 2013, according to SAC.

The aggregate revenues of these brokerages hit 260.28 billion yuan last year, up 63.45 percent compared with 2013.

The sector's strong performance was attributed to bullish Chinese shares in the last quarter of 2014, thanks to the recovering economic climate and easing measures from the central government.

China's A shares raised 724.9 billion yuan in 2014, with 47.1 billion yuan raised through the initial public offerings (IPO) of 94 enterprises, and 677.8 billion yuan from refunding by 609 listed companies, the China Securities Regulatory Commission (CSRC) revealed.

***

Op is doing the bidding of his own "democratic" goverment as true USA patriot .Of course attack at Lenovo has absolutely nothing to do with recent info for Kaspersky found malware made in USA and SIM card hacking again made in USA.Cheap and not working method.USA action can only fool certain segment of population(like the OP) who get their "news" from the likes of Fox and CNN.Uncle Sam is getting more desparate with each passing day.And make fool of himself everyday-just look who USA blamed for heavy snowfall recently ...

The guy has put up a misleading title (which has not been relocated under this thread) that suggested that all Lenovo PCs are affected. He also cunningly cut out the part where it stated that only those limited models shipped between September 2014 and February 2015 are pre-installed. Since then Lenovohas made Superfish to completely disabled server side interactions (since January) on all Lenovo products so that the software product is no longer active, effectively disabling Superfish for all products in the market.

It is a mistake by the company, which it needs to be held responsible. But, this cannot be used to whitewash the US-regime's state-sponsored hacking through mobile, PC and other platforms.

 

[TaiShang]

61 Bln Yuan of Taxes Reduced for China's Small Firms

Tax breaks for small and micro-sized businesses in China amounted 61.2 billion yuan (10 billion U.S. dollars) in 2014, the State Administration of Taxation (SAT) revealed.

Business income tax of 10.1 billion yuan was reduced or scrapped from 2.46 million small and micro businesses, as companies with annual taxable business income below 100,000 yuan were eligible to a 50 percent reduction.

Value added tax and turnover tax cuts were worth more than 51.1 billion yuan from 22 million small and micro businesses through a temporary suspension for certain small firms from Aug. 1, 2013, to Sept. 30, 2014, according to SAT.

China has expanded preferential tax policies for small companies and reduced their tax burden to boost economic growth and employment. Nearly 80 percent of urban jobs are provided by small companies.

 

[Edison Chen]

Postal Savings Bank of China chases pre-IPO investors

Postal Savings Bank of China is in talks with potential investors, including an affiliate of Alibaba, US private equity groups and Asian sovereign wealth funds, about selling minority stakes before a possible initial public offering in early 2016.

Any stake sales or IPO must be approved by China’s State Council and the Ministry of Finance, investors with knowledge of the state-owned bank’s plans told the Financial Times.

An IPO could raise anywhere between $10bn an $25bn, according to one banker hoping to play a role, and would rank as one of the largest on record. At the top end, that could match Alibaba’s record $25bn offering last year.

Morgan Stanley has been mandated to line up investors ahead of any listing, which bank representatives have told potential investors could come as early as the beginning of next year.

The rise of shadow banks which are able to pay much higher interest rates on deposits could pose a competitive threat to the tightly regulated Postal Savings Bank. An infusion of private capital and expertise from a financial investor could help the bank reinvigorate its operations and better compete with rivals.

Postal Savings Bank is a fixture in rural China, where its network scoops up deposits from rural households. It has as much as $800bn in deposits, and puts its money into Chinese government bonds and the interbank market as well as lending to small and medium-sized enterprises and agricultural households.

Its branch network of about 40,000 is larger than more widely known state-owned banks, such as Industrial and Commercial Bank of China.

“It is a true and pure savings bank,” said the head of one Chinese investment fund that is considering buying a stake. “Its ability to collect deposits is very, very strong and because it doesn’t have a huge loan book, the overall risk is very, very low. But to turn it into a new retail bank may be way too difficult.”

Among the more interesting possible investors is Ant Financial, an affiliate of Alibaba, the US-listed ecommerce group. Alibaba already has a partnership with the International Finance Corporation, the private sector arm of the World Bank, to offer micro finance services in China. It could use the Postal Saving’s Bank’s cheap funding as a way to extend its financial muscle in the country.

Other possible investors include banks, particularly those with a presence in the region, such as DBS of Singapore, Malaysia’s Hong Leong Bank and ANZ of Australia. Asian sovereign and quasi-sovereign wealth funds such as Khazanah Nasional Berhad of Malaysia and Singapore’s Temasek have also been approached, according to investors interested in the bank.

Big private equity groups including Blackstone, KKR and Warburg Pincus are considering taking stakes, the people added, although the head of one large fund noted the “deal is hard for a control-oriented investor to love”.

Leading Chinese investment funds including Boyu Capital, Citic Capital, Hopu Investment Management and Primavera Capital, all of which have strong relationships in Beijing, are also looking at a possible transaction, the investors added.

Established as a separate entity by China Postal Group in 2007, Postal Savings Bank’s interactions with foreign financial institutions have not always gone smoothly.

Several years ago, JPMorgan Chase considered a range of initiatives with the bank, including buying a stake and securing a role in any future IPO. The US company sent about 30 staff to advise the bank on its newly introduced credit card operations and on improving branch services. The relationship was driven from New York by Bob Lipp, a senior adviser and JPMorgan board member who became close to senior executives of Postal Savings Bank.

But when some of those Chinese executives, including Tao Liming, the bank’s president, were detained as part of an investigation into financial fraud in 2012 by the disciplinary arm of the Communist Party, the relationship lapsed, three former JPMorgan executives said.

“We committed a lot of resources and must have spent between $60m and $70m,” said one of these people. “But we never got any mandate.”

JPMorgan declined to comment.

Additional reporting by Gabriel Wildau

http://www.ft.com/intl/cms/s/0/5ccec596-b947-11e4-a8d0-00144feab7de.html#axzz3Sd7U0ozZ

 

[TaiShang]

China's manufacturing activity rises to four-month high in February
Source:Xinhua Published: 2015-2-25 13:15:39

China's manufacturing activity improved slightly in February thanks to increased output and new orders, according to HSBC's preliminary purchasing managers' index (PMI) released on Wednesday.

The HSBC flash manufacturing PMI for February rose to a four-month high of 50.1 from a reading of 49.7 in January, HSBC said in the report.

A reading above 50 indicates expansion, while a reading below that represents contraction.

The output sub-index stood at 50.8 in February, up from 50.3 in January, representing a five-month high, according to the monthly report.

"Today's data point to a marginal improvement in the Chinese manufacturing sector going into the Chinese New Year period in February. However, domestic economic activity is likely to remain sluggish and external demand looks uncertain," said HSBC chief China economist Qu Hongbin.

"We believe more policy easing is still warranted at the current stage to support growth," Qu added.

China's economy grew 7.4 percent in 2014, the weakest annual expansion in 24 years, but still in line with market expectations.

 

[TaiShang]

Pragmatism can lead Silk Roads to success
By: Huang Yiping From:English Edition of China Daily| Updated: 2015-Feb-25 13:53

More than 500 delegates and entrepreneurs from countries along the Silk Road Economic Belt attended the China-EU Rail Logistics Forum Multi-communication, in Zhengzhou, capital of Central China's Henan province, Friday. [Photo by Xiang Mingchao/provided to chinadaily.com.cn]


The Silk Road Economic Belt and 21st Century Maritime Silk Road initiatives of President Xi Jinping are aimed at promoting regional economic cooperation. Being supplementary to the existing world economic order, the initiatives will help boost regional economic cooperation and development through infrastructure construction based on China's successful experiences over the past decades.

The "Belt and Road Initiatives" are the first independent concept put forward by China for international economic cooperation. They are particularly important in the context of the International Monetary Fund's failed efforts to push forward infrastructure investment.

Given their popularity among some Southeast, South, Central and West Asian countries, the initiatives, if well implemented, will become a vital component of the established international system. The advance of China's westward economic cooperation is also expected to lower the risk of direct conflicts between China and the United States in the Pacific and help Beijing follow its "peaceful development" strategy.

But while implementing the initiatives, China should refrain from using them as a Cold War tool.

Recently, some international relations scholars claimed that a bipolar confrontation, with China and Russia on one side and the US and Japan on the other, is taking shape in the Pacific where the two camps are competing to assume the power to make the new rules. China, the scholars believe, has to strive to be the top military power to ensure that it exercises the power to make the rules and safeguard its economic interests.

Such views are preposterous given that China is not poised to challenge the US' position in the region. China may be the second-largest economy in the world, but its economic development is still to reach an advanced level. And the disintegration of the Soviet Union taught China a lesson: military power not built on economic strength will not last long.

China should make efforts to prevent the well-conceived "Belt and Road Initiatives" from becoming the international version of its "go west" policy. The need, therefore, is to reflect on the failure of the strategy to achieve expected results in developing the country's western region, the rise of the central region and the revival of the old industrial base in its northeast.

Unlike the "go west" policy in which the central government invested the funds with the local governments trying to get optimum returns on them, China should not be the only country to fund all the "Belt and Road" projects. Other countries and regions involved should make their part of the contributions and cooperate with each other to make the initiatives a success. Indiscriminate investment is unlikely to yield the expected benefits; instead, they could invite criticism from the international community.

China should also avoid going the Japan way. The large-scale overseas investment drive Japan launched in the 1980s - thanks to the yen's appreciation and rising labor costs - sparked worldwide worries over whether Japan would "buy" the entire world. In the end, the returns on many of Japan's overseas projects were below expectations.

True, China is the world's second-largest source of outbound direct investment. But then more than half of its overseas investment projects are not profitable. Given this fact, blindly pushing domestic enterprises to invest overseas under the "Belt and Road Initiatives" is unlikely to produce satisfactory results.

The "Belt and Road Initiatives" are a well-planned global economic tactics, but their success cannot be taken for granted in the situations prevailing at home and abroad. So, China has to play a guiding role in their implementation and refrain from excessive intervention.

Infrastructure projects in partner countries should be carried out under a global cooperation mechanism that guarantees good returns on investments. And domestic enterprises should establish a decision-making mechanism that can hold decision-makers accountable for their wrong decisions.

Therefore, the two prime recipes of the initiatives' success are a cautious approach and proper implementation.

The author is deputy-dean of the National School of Development, Peking University.

 

[TaiShang]

China's R&D expenditure surges
Published: 2015-2-26 15:13:18

The sum spent on research and development (R&D) in China rose 12.4 percent year on year in 2014, an encouraging trend as the country has vowed to seek innovation-led growth, an official report indicated on Thursday.

The Economic and Social Development Report 2014 from the National Bureau of Statistics showed 1.33 trillion yuan ($216.8 billion) was spent on R&D last year, 140.6 billion yuan more than in 2013.

The expenditure accounted for 2.09 percent of China's GDP last year, inching up 0.01 percentage points from 2013, when the ratio exceeded 2 percent for the first time.

Intellectual property watchdogs accepted 2.36 million patent applications in 2014 and granted 1.3 million patents.

 

[TaiShang]

Bureaucracy hinders road maintenance
Reporter: Guan Yang 丨 CCTV.com

Despite China's increasing urbanization, more than 80% of roads are still in rural areas. A mammoth road construction program over the past few decades transformed rural roads into more modern transportation links.

But problems remain, namely upkeep. China's centrally-controlled government structure has makes it difficult to monitor and maintain roads in remote locations. But with the Chinese legislature and top political advisory body set to start their annual sessions in March, changes could be on the horizon.

62 year old Zhao Xiulian from Baiyu village, in China's northeastern Liaoning Province, no longer needs to worry about her truck loaded with sweetcorn flipping over on the bumpy roads during rainy days.

The paved roads that run through the village are now well looked after by herself and the locals: no heavy vehicles that damage pavements are welcome here.

"Poor road conditions made our daily lives very difficult in the past: our trucks would roll over when driving over holes in the roads." she said.

The improvement of road surfaces in rural areas is important. People can find work more easily, clinics and schools can be reached more safely, and farmers can make more money by getting their produce to market more quickly.

Plenty of roads have been built in China’s rural parts over the last 30 years for just these reasons- but a lack of upkeep has been the problem.

"Considering the amount of traffic, the quality of rural roads is relatively low to those found in cities. This means they are more vulnerable to damage by heavy trucks as well as flooding, so more attention needs to be paid to road maintenance." said Yu Miao, manager of Road Maintenance, Fumeng county, Liaoning province.

In recent years, China has made remarkable progress constructing roads in rural areas. In terms of distance, the roads in rural areas now account for over 80% of all roads in the country. However before the road maintenance administration was streamlined, it wasn't clear exactly which level of government was responsible for keeping them in good shape.

Under the previous governmental system, China's rural roads were usually managed by the provincial transportation department. The result was that officials would often be based hundreds of miles away from some villages, unable to monitor the status of roads. By streamlining the management structure, rural government officials now have more say on the upkeep of roads in their areas.

"Before the reform of the management of rural roads began, the provincial government was responsible for designing, building and maintaining roads in rural areas. This was proven to be an inefficient way of managing all the rural roads of the province. Now with the devolution of administrative power to county levels, no one knows more than us about what jobs that need to be done on our roads." said Lu Yajun, head of county gov't, Fumeng county.

In 2005, the state council issued a draft plan on reforming the country's management of rural roads, which called for the delegation power to lower level governments. But it was not until the third plenary session of the 18th CPC central committee that such reform was fully implemented.

"The reform and streamlining of rural road administration is paying dividends to people in rural areas, as they now have the ultimate power to decide what should be done to the roads they use themselves…while we on the other hand now have more time and manpower to work on the overall transportation development of the province." said Liu Huanxin, head of Liaoning Provincial Transporatation Dept.

Since China opened-up to the world 36 years ago, the country has experienced at least six rounds of administrative system reform. This improved efficiency is helping the nation, and governments of all levels across the country now better serve the people.

 

[TaiShang]

Chinese dominate Forbes' powerful businesswomen list in Asia
Source:Xinhua Published: 2015-2-26

Chinese female executives dominated Forbes' annual list of "50 Power Businesswomen in Asia" this year, the US business magazine said on Thursday.

A total of 14 Chinese women were on the list, including two of Alibaba's top female decision-makers - Maggie Wu and Lucy Peng.

Wu is the online giant's CFO and the driver of its blockbuster IPO, and Peng is a cofounder of Alibaba and the energy behind its fast growing Ant financial-services unit, said Forbes Asia.

Other Chinese powerful businesswomen included Cheng Xue, vice chairwoman of Foshan Haitian Flavoring & Food, and Jean Liu, president of Didi Dache, a taxi-hailing app in China.

According to Forbes Asia, candidates have to be "active in the upper echelons of the business world in Asia, wield significant power and have access to robust financial resources."

This year, 16 countries were represented on the list. Six women from India also made the list, followed by five from Thailand, four from Singapore and three from the Philippines. Women from Mongolia and Myanmar appeared on the list for the first time.

 

[micky]

China Develops World first 3D ship-hull plate bending machine
China Develops World first 3D ship-hull plate bending machine | China's Great Science and Technology

3D ship-hull Plate bending machine which is developed by Surele company in Shandong Province in China,

Advantages include:

1. Instead of Line-heating;
2. Will not destroy the plate material;
3. Green ship buliding;
4. Increasing efficiency of the processing of outside plate;
5. Cost saving;
6. Saving shipbuilding time;
7. Could bend the plate to saddle-shaped and sail-shaped;
8. The maximum bending thickness is 25mm;
9. The maximum bending width is 2000mm;
10. Connect with TRIBON/HDSHM system.

[video]我国首创的船舶三维数控弯板机—在线播放—优酷网，视频高清在线观看

hi friend, this is too too late reply for this ,,,,
i wanted to know more about this machine, we are looking kind of machine for some unique job work......... could you please tell me more about this machine......

 

[sweetgrape]

hi friend, this is too too late reply for this ,,,,
i wanted to know more about this machine, we are looking kind of machine for some unique job work......... could you please tell me more about this machine......

Sorry, buddy, I also don't know more on it, read the report then move it here, sorry for can't help you.

 

[micky]

Sorry, buddy, I also don't know more on it, read the report then move it here, sorry for can't help you.

ohh,, its okey anyway thank you..........

(we are an NGO called isha foundation,,, teaching yoga classes all around the world...... so we are making a 112 feet steel statue of adhi yogi (first yogi) ... to represent the importance of yoga to the world... there are lot of chinese frinds coming and learning the classical and ancient yoga.. attached a link..)

just for information...

 

[Keel]

King Long Overseas Sales Exceed Ten Thousand Units
2015-02-27 Author： Source：China Buses Review, China Buses Guide,-www.chinabuses.org

In December 11, 2011, China formally joined the World Trade Organization. Many independent brands seize the opportunity going abroad, Chinese buses included.

Today, the rise of Chinese bus has changed world bus pattern, which has won worldwide customers' attention and recognition, that China has become the world's largest bus manufacturer. And in numerous brands, "King Long" is undoubtedly the most famous for overseas customers which enjoys high brand awareness and reputation widely in overseas market. In recent years, although the international bus market has been volatile, King Long was has maintained a steady development, with sales performance been in the forefront of the industry for the time.

In the past 2014, King Long has experienced another milestone that annual sales volume and sales together to record, with export value exceeded $0.3 billion for the first time, with a breakthrough of ten thousand units, reaching 12293 units. At the same time, after more than ten years exploration in overseas market, King Long has been serving users in 122 countries and regions, with export volume of over 50 thousand units.

At the beginning of the year of Goat, King Long has started another fifteen years journey to overseas market.


Editor：Cheery


Higer Double-decker Bus Launched in Uzbekistan
2015-01-20 Author： Source：China Buses Review, China Buses Guide,-www.chinabuses.org

On January 17, 2015, Higer Double-decker Bus Launching Ceremony is held by AT company in Tashkent, the capital of Uzbekistan, attended by the Vice Minister of Ministry of Tourism of Uzbekistan, the Deputy Mayor of Tashkent, and Liu Yaying, the representative of Chinese Commercial Counsellor in Uzbekistan, as well as Embassy representatives form Korea, Japan and India. Besides, citizens in Tashkent also come to visit the Higer bus spontaneously.

After the launching ceremony, the official from Uzbekistan has an interview with Uzbekistan TV station and takes a tour on the Higer double-decker bus with attendants of the ceremony and citizens.

On the interview, the Vice Minister of Ministry of Tourism claims that with the modern outlook, Higer double-decker bus is not only very comfortable but also eco-friendly and fuel efficient. The launching of the Higer double-decker bus symbolizes the improvement of the tourism industry in Tashkent which is becoming more appealing to local and overseas tourists, which inspires the further development of the tourism industry in Uzbekistan.

 

[Jlaw]

China's manufacturing activity rises to four-month high in February
Source:Xinhua Published: 2015-2-25 13:15:39

China's manufacturing activity improved slightly in February thanks to increased output and new orders, according to HSBC's preliminary purchasing managers' index (PMI) released on Wednesday.

The HSBC flash manufacturing PMI for February rose to a four-month high of 50.1 from a reading of 49.7 in January, HSBC said in the report.

A reading above 50 indicates expansion, while a reading below that represents contraction.

The output sub-index stood at 50.8 in February, up from 50.3 in January, representing a five-month high, according to the monthly report.

"Today's data point to a marginal improvement in the Chinese manufacturing sector going into the Chinese New Year period in February. However, domestic economic activity is likely to remain sluggish and external demand looks uncertain," said HSBC chief China economist Qu Hongbin.

"We believe more policy easing is still warranted at the current stage to support growth," Qu added.

China's economy grew 7.4 percent in 2014, the weakest annual expansion in 24 years, but still in line with market expectations.

Excellent. These are real numbers that can be verified. A certain country can revise GDP but the numbers do not make sense.

 

[TaiShang]

King Long Overseas Sales Exceed Ten Thousand Units
2015-02-27 Author： Source：China Buses Review, China Buses Guide,-www.chinabuses.org

In December 11, 2011, China formally joined the World Trade Organization. Many independent brands seize the opportunity going abroad, Chinese buses included.

Today, the rise of Chinese bus has changed world bus pattern, which has won worldwide customers' attention and recognition, that China has become the world's largest bus manufacturer. And in numerous brands, "King Long" is undoubtedly the most famous for overseas customers which enjoys high brand awareness and reputation widely in overseas market. In recent years, although the international bus market has been volatile, King Long was has maintained a steady development, with sales performance been in the forefront of the industry for the time.

In the past 2014, King Long has experienced another milestone that annual sales volume and sales together to record, with export value exceeded $0.3 billion for the first time, with a breakthrough of ten thousand units, reaching 12293 units. At the same time, after more than ten years exploration in overseas market, King Long has been serving users in 122 countries and regions, with export volume of over 50 thousand units.

At the beginning of the year of Goat, King Long has started another fifteen years journey to overseas market.


Editor：Cheery


Higer Double-decker Bus Launched in Uzbekistan
2015-01-20 Author： Source：China Buses Review, China Buses Guide,-www.chinabuses.org

On January 17, 2015, Higer Double-decker Bus Launching Ceremony is held by AT company in Tashkent, the capital of Uzbekistan, attended by the Vice Minister of Ministry of Tourism of Uzbekistan, the Deputy Mayor of Tashkent, and Liu Yaying, the representative of Chinese Commercial Counsellor in Uzbekistan, as well as Embassy representatives form Korea, Japan and India. Besides, citizens in Tashkent also come to visit the Higer bus spontaneously.

After the launching ceremony, the official from Uzbekistan has an interview with Uzbekistan TV station and takes a tour on the Higer double-decker bus with attendants of the ceremony and citizens.

On the interview, the Vice Minister of Ministry of Tourism claims that with the modern outlook, Higer double-decker bus is not only very comfortable but also eco-friendly and fuel efficient. The launching of the Higer double-decker bus symbolizes the improvement of the tourism industry in Tashkent which is becoming more appealing to local and overseas tourists, which inspires the further development of the tourism industry in Uzbekistan.

Made by China shines everywhere