China Economy - News & Updates

[Justin Joseph]

China To Purchase Half of IMF's Gold

China has confirmed the intention to purchase 191.3 tons of gold from the International Monetary Fund at an open auction, Finmarket news agency said.

World central banks started to increase their gold reserves after prices on gold began to climb in 2001. The IMF sells gold within the scope of a program to diversify sources of income and achieve an increase in lending.

The IMF announced an intention to sell 403.3 tons of gold in accordance with the adequate decision made by the board of directors of the fund in September of 2009.

India, Mauritius & Sri Lanka purchased about 212 tons of the amount at the end of 2009.

China’s interest in international trade is connected with the development of the nation’s economy, as well as with the growing consumer demand in the country.

“Chinese officials have confirmed previous announcements from IMF experts and said that the purchasing of 191 tons of gold would not exert negative influence on the world market. China is interested in the development of the domestic consumer market,” the agency reports.

Most of Chinese citizens believe that investing in gold jewelry is a good way to avoid inflation, Rough & Polished agency said.

The IMF has received the profit of $7.2 billion from gold sales. A part of the funds is to be used for crediting poor countries.

China To Purchase Half of IMF's Gold - Pravda.Ru

India have purchased 200 metric tons of gold by IMF in 2009 alone so why club other countries with it.



The Gold which the China wants to purchase is left by India. As, Gold is a investment and price was not right.



India after purchasing 200 metric tons of gold offered to buy remaining 201.3 tonnes on acceptable terms but as we have not found it attractive India left the Gold and now China is purchasing it.


Proof of my statement:

India plans to buy more gold from IMF | mydigitalfc.com

 

[chinapakistan]

India have purchased 200 metric tons of gold by IMF in 2009 alone so why club other countries with it.



The Gold which the China wants to purchase is left by India. As, Gold is a investment and price was not right.



India after purchasing 200 metric tons of gold offered to buy remaining 201.3 tonnes on acceptable terms but as we have not found it attractive India left the Gold and now China is purchasing it.


Proof of my statement:

India plans to buy more gold from IMF | mydigitalfc.com

What's wrong with you? Why indian like relating everything to india?
What is the point of your post? Just brag our indian is the best?

 

[Iggy]

Why? Bcoz US dollar is unstable or will fallen?

Is may be because gold is a secure investment..

 

[Sanchez]

India have purchased 200 metric tons of gold by IMF in 2009 alone so why club other countries with it.



The Gold which the China wants to purchase is left by India. As, Gold is a investment and price was not right.



India after purchasing 200 metric tons of gold offered to buy remaining 201.3 tonnes on acceptable terms but as we have not found it attractive India left the Gold and now China is purchasing it.


Proof of my statement:

India plans to buy more gold from IMF | mydigitalfc.com

Are you OK? Don't get high on this. China produces 800 tons gold per year and is the largest gold producer in the world since 2008. Not like India buying 200 tons of gold is nothing big for China, not more than to shove off some dollar bills. Are you trying to behave like a rich dude to China?

You have to buy gold because you don't produce much!

 

[Justin Joseph]

What's wrong with you? Why indian like relating everything to india?
What is the point of your post? Just brag our indian is the best?

sir

there is no need to jump to reply after seeing a post before reading it.

i have not brought India into this, if u look with ur glasses on u will see the highlighted portion of the news "where there is mention of India, Mauritius and sri lanka buying 212 tons of gold" so i clarified India has brought 200 tons of gold and why there is mention of India with Mauritius and sri lanka which brought only tiny amount of gold.

So India was there in the News Itself.

 

[Justin Joseph]

Are you OK? Don't get high on this. China produces 800 tons gold per year and is the largest gold producer in the world since 2008. Not like India buying 200 tons of gold is nothing big for China, not more than to shove off some dollar bills. Are you trying to behave like a rich dude to China?

You have to buy gold because you don't produce much!

Me OK??????

I'm good, but what about u????????

The news to which i have replied is "China To Purchase Half of IMF's Gold" posted by member Sri Lankan

I replied to that news, so do u have any problem with that????

If China don't care about gold or not buying Gold then fight with the member "Sri Lankan" who have posted this news why are u after me????

If china is not purchasing Gold from IMF then u should clerify by posting some proof of explain it to Sri Lankan why are u targeting me???

I have not posted this crap news like China buying Gold.

 

[Sanchez]

Me OK??????

I'm good, but what about u????????

The news to which i have replied is "China To Purchase Half of IMF's Gold" posted by member Sri Lankan

I replied to that news, so do u have any problem with that????

If China don't care about gold or not buying Gold then fight with the member "Sri Lankan" who have posted this news why are u after me????

If china is not purchasing Gold from IMF then u should clerify by posting some proof of explain it to Sri Lankan why are u targeting me???

I have not posted this crap news like China buying Gold.

The comments you wrote smelled bad and it was even worse that your gold pride was unfounded. I am wondering why you are still around after all the strange trolling behaviour.

My apology goes for citing a wrong number: last year China produced only 314 tons of gold not 800 tons. I also found out that China is the world No 1 in the production, purchase and consumption of gold for the time being.

It may be disappointing for you gold loving people, but it shouldn't be difficult to remember the simple facts, right?

 

[grey boy 2]

CAAC: China to buy 218 airliners this year - People's Daily Online March 08, 2010

China plans to buy 218 airliners this year to satisfy the increasing demand for passenger and cargo transport. The 218 airliners will include jumbo jets and regional jets, said Li Jiaxiang, the director-general of the Civil Aviation Administration of China (CAAC) March 7.

The 218 jets, which will be newly deployed to Chinese airlines in 2010, can almost form a large international airline. Air China, one of China's three largest airlines owned 256 jets by the end of October 2009.

It is estimated that the passenger number of Chinese airlines will reach 700 million by 2020, and about 1.5 billion by 2030. China's civil aviation market will expand 3 fold by 2020 and 6.5 fold by 2030, compared with 2009.

Last year, the passenger number and freight volume of Chinese airlines reached 230 million and 4.46 million tons, of which, the passenger number increased by 43.6 percent in August.

CAAC estimates that the passenger number and freight volume of Chinese airlines will increase by 12 percent this year, of which, the freight volume rose by 95 percent in January and February. Li said that the freight volume has recovered to the pre-crisis level.

Apart from buying airliners, China also built and renovated airports over the past 2 years. As part of the "4-trillion yuan" stimulus plan, China either built or renovated 22 airports in 2009, and the number will further increase this year.

Li added that in 2010, China will invest 90 billion yuan in fixed assets and implement 25 key construction projects. Renovation of the Shanghai Hongqiao Airport, Shenzhen Baoan Airport and Hangzhou Xiaoshan Airport, as well as the construction of the Kumming New Airport and Hefei New Airport will become part of the 25 key construction projects.

By People's Daily Online

 

[Justin Joseph]

The comments you wrote smelled bad and it was even worse that your gold pride was unfounded. I am wondering why you are still around after all the strange trolling behaviour.

My apology goes for citing a wrong number: last year China produced only 314 tons of gold not 800 tons. I also found out that China is the world No 1 in the production, purchase and consumption of gold for the time being.

It may be disappointing for you gold loving people, but it shouldn't be difficult to remember the simple facts, right?

Why are u derailing the thread and accusing me of trolling what have i done?????????

Get real, the China purchasing gold news is not posted by me but by another member sri lankan. Got it.........

If the news is wrong then fight with him why me....................

why are u having complexes.

 

[Omar1984]

CHEC registers record revenues


Despite an industry downturn worldwide, port building contractor China Harbour Engineering Co Ltd (CHEC) had record revenues of $1.89 billion last year and signed new contracts worth $4.49 billion.

As growth slowed due to the global economic crisis, CHEC responded by reorganizing its resources and moving into new sectors.

Shrinking infrastructure markets in the Middle East and Africa, which before contributed more than 60 percent of its revenues, resulted in CHEC developing business in Hong Kong and Macao special administrative regions (SARs), Southeast Asia and South Asia, which together comprised 59 percent of its new contracts.

CHEC also expanded into Latin America, where its contracted volume grew from nearly zero in 2008 to $540 million last year, some 12 percent of new business.

The company has adopted a "greater construction" strategy to embrace projects including airports, railways, power plants, water facilities and offshore structures.

While marine engineering still totaled 47 percent of its new contracts in 2009, more than 50 percent came in a range of sectors, helping spread risk and providing new growth points.

CHEC focuses on cooperation with governments, financial institutions and business councils. Half of its new contracts last year were government-to-government programs. Ten were mega-projects that surpassed the $100 million mark.

Phase I of the Gwadar deep water port in Pakistan built in part by CHEC, was awarded the Luban Prize - China's top accolade for architecture and construction - last November. Its projects in Saudi Arabia, Hong Kong SAR and Angola received awards for safety from governments and project owners.

CHEC had 106 projects under construction by the end of last year.

Source: China Daily


CHEC registers record revenues - People's Daily Online

 

[Justin Joseph]

China welcomes Indian pharma firms after years of resistance

Saibal Dasgupta, TNN, Mar 8, 2010, 07.21pm IST

BEIJING: Chinese health minister Chen Zhu said on Monday that Indian pharmaceutical companies were "more than welcome" to sell their products in China. The Indian companies have been complaining for a long time that China did not grant enough market access.

Chen said pharmaceutical companies from developing countries like India are "more than welcome" to participate in China's drug sector. He said Indian firms producing "non-generic and creative medicine" were leading in the developing world.

"We believe competent enterprises from India will have a role to play in China's health sector," he said. The country has implemented an online tendering system and a unified distribution network to ensure equal opportunities to all suppliers, Chen said.

The statement comes less than two months after Indian commerce minister Anand Sharma raised the issue of market access for pharmaceutical companies during his visit to Beijing last January.

What China is looking for cost-effective medicines of high quality, the minister said. They must be safe and proved effective. He pointed out that the government had set up central drug procurement system, which would make it easy for foreign companies to make their bids.

Chen said the basic health insurance scheme has been expanded and essential drugs covered under it in the case of 30% of grassroots level health institutions. They have centralized provincial level procurement platform to carry out bidding and purchase of essential drugs, he said.


Source Link:

China welcomes Indian pharma firms after years of resistance - China - World - The Times of India



The statement of Chinese health minister Chen Zhu (Indian firms producing "non-generic and creative medicine" were leading in the developing world.)

Is acceptance of reality i hope Chinese member also realize the truth about high quality of products produce by Indian Pharmaceutical companies as the government of china has realise.

 

[Justin Joseph]

"China welcomes Indian pharmaceutical companies to help address the growing demands of its domestic market in the wake of recent health care reforms, said Health Minister Chen Zhu on Monday."

Till date Westerners are charging very high rates for their drugs.

Indian companies should help out China in low cost high quality medicines.

It will benefit India and China friendship and poor people in both the countries and also end the monopoly of West over East.

 

[Sanchez]

It's amazing that Indians think their generics copying pharms are different from Chinese ones. It's a way for Chinese pharms to open Indian market, too.

What are the non-generics developed by Indians?

 

[Justin Joseph]

卫生部部长陈竺

中国网3月8日讯 今日15:30，十一届全国人大三次会议将在人民大会堂三楼金色大厅举行记者会，由住房和城乡建设部部长姜伟新、卫生部部长陈竺、人力资源和社会保障部副部长胡晓义就保障和改善民生问题答记者问。

谈到关于中国是否向外国公司开放医疗市场时，卫生部部长陈竺表示，中国生物制药产业开放度是非常之高的，除了对发达国家的跨国公司的开放，也包括对发展中国家的企业的开放。

陈竺表示，当然，我们非常欢迎印度同行能够到中国来创业。因为我知道，印度的药物产业，包括非专利药物和创新药物方面，应该说在发展中国家都是处于前列的。

陈竺说，中国的医药卫生产业的市场是非常巨大的，13亿的人群，需求也是多样化的。中国政府去年启动的深化医药卫生体制改革当中，我们的重要工作之一就是建立国家基本药物制度。当然，基本药物在中国这样一个国情下，绝大多数都是预防和治疗疾病必须的，疗效非常确切和安全的，同时，又是性价比比较好的药。应该说，我们现在采取的网上统一招标采购，是欢迎各种企业来参与竞争的。我相信，有竞争力的印度企业应该有所作为。

??????????????? ??????

Translation

Minister of Health Chen Zhu

China Net March 8 hearing today, 15:30, the Third Session of the Eleventh National People's Congress in the Great Hall of the Golden Hall on the third floor press conference by the Minister of Housing and Urban-Rural Construction Jiang Weixin, Minister of Health Chen Zhu, human resources and social Hu Xiaoyi, vice minister of security protection and improving people's livelihood on the Answer Questions.

Turning to whether or not to foreign companies on China's opening up the medical market, the Minister of Health Chen Zhu said the Chinese bio-pharmaceutical industry is a very high degree of openness, in addition to the opening of the multinational corporations in developed countries, but also enterprises in developing countries open.

Chen Zhu said that, of course, we very much welcome the Indian counterparts to come to China venture. Because I know that India's pharmaceutical industry, including generic drugs and innovative drugs, it should be said that in developing countries are at the forefront.

Chen Zhu said that China's medical and health industry's market is huge, 1.3 billion people, demand is also diversified. The Chinese government launched last year, the deepening of medical and health system reform among one of our important is the establishment of national essential drug system. Of course, the essential medicines in China, such a situation, the overwhelming majority of the necessary prevention and treatment of disease, efficacy and safety of very precise, while also a good cost-effective medicine. It should be said, we are now taking a unified online bidding and purchasing, would have welcomed a variety of businesses to participate in competition. I am confident that the competitiveness of Indian enterprises should make a difference.

 

[Justin Joseph]

It's amazing that Indians think their generics copying pharms are different from Chinese ones. It's a way for Chinese pharms to open Indian market, too.

What are the non-generics developed by Indians?

According to even the FDA, USA the only difference between generic and non generic drugs are the packaging, the name and the price tag.... the medicine works the same and is held to the same exacting standards of quality the name brands are, they're just cheaper.


A generic drug (generic drugs, short: generics) is a drug which is produced and distributed without patent protection. The generic drug may still have a patent on the formulation but not on the active ingredient.

A generic must contain the same active ingredients as the original formulation. According to the U.S. Food and Drug Administration (FDA), generic drugs are identical or within an acceptable bioequivalent range to the brand name counterpart with respect to pharmacokinetic and pharmacodynamic properties. By extension, therefore, generics are considered (by the FDA) identical in dose, strength, route of administration, safety, efficacy, and intended use.

The FDA's use of the word identical is very much a legal interpretation, and is not literal. In most cases, generic products are available once the patent protections afforded to the original developer have expired. When generic products become available, the market competition often leads to substantially lower prices for both the original brand name product and the generic forms. The time it takes a generic drug to appear on the market varies. In the US, drug patents give twenty years of protection, but they are applied for before clinical trials begin, so the effective life of a drug patent tends to be between seven and twelve years.

Generic drug - Wikipedia, the free encyclopedia