China Economy - News & Updates
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chinapakistan
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印度药？唯一能想到的就是印度神油了。
Frankenstein
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awesome structures!!
Omar1984
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BEIJING: All signs are pointing to an appreciation of China’s currency, perhaps even by mid-year, analysts say, after a cryptic hint from the nation’s central bank governor and a limited jump in the yuan’s value.
The United States and the European Union, Beijing’s key trade partners, have been increasing the pressure on Chinese authorities for months to revalue the currency, which they say is intentionally kept low to boost exports. Chinese Premier Wen Jiabao again said last week that the yuan, which has effectively been pegged to the dollar since mid-2008, would be kept “basically stable” in 2010, but experts now say there is a fair bit of room for movement.
“The question is when will that be? We still think towards the end of Q2 or the beginning of Q3. Obviously the pressure is rising for a move earlier,” Stephen Green, a senior economist at Global Research in Shanghai, told AFP.
“This kind of decision is made by a small group of people. The economy has recovered, exports have recovered, but not back to their previous good health. The leadership remains cautious,” he said. Central bank governor Zhou Xiaochuan sparked a storm of speculation at the weekend when he said that Beijing’s currency policy was temporary and would be withdrawn “sooner or later” along with other anti-crisis measures. Alaistair Chan, an analyst for Moody’s Economy.com in Sydney, said Zhou had “opened the door to movement on the yuan-dollar peg” — an opinion echoed by many experts. Those who back a stronger yuan say the stars are aligned for a quick move. China returned to double-digit growth in the fourth quarter of 2009, exports have soared since December — up 45.7 percent year-on-year in February — and inflation and bubble fears, which would ease with a yuan hike, are mounting.
“With such high export growth, pressure on China’s peg to the greenback could be escalated rapidly in months ahead,” economists said. afp`
chinapakistan
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xuxu1457
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China reports first monthly trade deficit six years
English.news.cn 2010-04-10 11:10:30
by Chen Siwu, Wang Youling and Wang Xi
BEIJING, April 10 (Xinhua)-- China's trade balance turned red in March with the country's first monthly trade deficit in six years, the General Administration of Customs (GAC) said Saturday.
China exports were valued at 112.11 billion U.S. dollars in March, up 24.3 percent year on year, while the imports surged 66 percent to 119.35 billion U.S. dollars, resulting in a deficit of 7.24 billion U.S. dollars.
The deficit was China's first since it posted a 2.26 billion deficit in April 2004, according to a report released by the GAC.
China's total foreign trade rose 42.8 percent year on year to 231.46 billion U.S. dollars in March, according to Customs statistics.
In the first quarter, foreign trade rose 44.1 percent to 617.85 billion U.S. dollars, with a surplus of 14.49 billion U.S. dollars though it was down 76.7 percent from the same period of last year.
The country's trade surplus hit 23.7 billion U.S. dollars in February.
Li Jian, a research fellow with the Research Institute under the Ministry of Commerce, said China's trade surplus had been falling since the start of the year.
"The deficit in March was just an extension of this trend," Li said.
He said China did not purposefully pursue a trade surplus and had adopted a policy of encouraging imports and achieving a trade balance over the years.
As the economy improved, any shift in people's expectations towards macro economic policies on liquidity and investment would influence importers' decisions and imported commodity prices, he said.
"Externally, we need to prudently monitor the world economy to avoid risk of a double-dip recession," he said. "Domestically, we need to focus on economic restructuring and transformation of economic growth pattern based on the stable growth of foreign trade."
The GAC attributed the March deficit to shrinking exports of labor-intensive products, surging imports and rising commodity prices.
"The deficit in March is neither a recession, nor can it be sustained," the GAC said in its report, adding the deficit was small and China had maintained a "basic balance" between imports and exports.
The GAC said the deficit accounted for only 3.1 percent of total trade volume in March, much lower than the 10-percent alarm level of a trade imbalance.
"The March deficit stemmed mainly from the fast growth of imports by China amid its efforts to increase imports against the backdrop of the global economic downturn," the report said. "China's efforts (to expand imports) helped with the recovery of world economy and demonstrated its role as a responsible country."
The GAC predicted China's trade surplus might continue to scale down and keep a trade balance for the rest of the year.
Zhao Jinping, an economist and researcher with the Development Research Center of the State Council, anticipated China's exports growth would slow in the second quarter because the base was too low in the first quarter last year when the world was in the middle of the global financial crisis.
Zhao estimated exports growth of 10 to 15 percent for the year, while imports growth would be slightly faster as China's economy had taken the lead in the world recovery.
China would post an annual trade surplus similar to or slightly narrower than last year's, he said.
The country recorded a trade surplus of 196.1 billion U.S. dollars last year, down 34.2 percent from 2008.
"We cannot be too optimistic and we still need in place those policies to stabilize external demand," he said.
GAC figures showed the surplus with the United States in March dropped 3.5 percent year on year to 9.87 billion U.S. dollars and that with the European Union fell 13.1 percent to 6.96 billion U.S. dollars.
However, China's March deficit with Japan more than tripled over the same month of last year to 6.53 billion U.S. dollars while its deficit with the Republic of Korea jumped 76 percent to 6.13 billion U.S. dollars.
The establishment of the ASEAN-China Free Trade Area on Jan.1 greatly boosted China's trade with the bloc, with ASEAN's trade surplus with China rocketing to 2.7 billion from 300 million U.S. dollars last year.
The Chinese mainland's deficit with Taiwan amounted to 7.9 billion U.S. dollars in March, up 78.7 percent year on year.
English.news.cn 2010-04-10 11:10:30
by Chen Siwu, Wang Youling and Wang Xi
BEIJING, April 10 (Xinhua)-- China's trade balance turned red in March with the country's first monthly trade deficit in six years, the General Administration of Customs (GAC) said Saturday.
China exports were valued at 112.11 billion U.S. dollars in March, up 24.3 percent year on year, while the imports surged 66 percent to 119.35 billion U.S. dollars, resulting in a deficit of 7.24 billion U.S. dollars.
The deficit was China's first since it posted a 2.26 billion deficit in April 2004, according to a report released by the GAC.
China's total foreign trade rose 42.8 percent year on year to 231.46 billion U.S. dollars in March, according to Customs statistics.
In the first quarter, foreign trade rose 44.1 percent to 617.85 billion U.S. dollars, with a surplus of 14.49 billion U.S. dollars though it was down 76.7 percent from the same period of last year.
The country's trade surplus hit 23.7 billion U.S. dollars in February.
Li Jian, a research fellow with the Research Institute under the Ministry of Commerce, said China's trade surplus had been falling since the start of the year.
"The deficit in March was just an extension of this trend," Li said.
He said China did not purposefully pursue a trade surplus and had adopted a policy of encouraging imports and achieving a trade balance over the years.
As the economy improved, any shift in people's expectations towards macro economic policies on liquidity and investment would influence importers' decisions and imported commodity prices, he said.
"Externally, we need to prudently monitor the world economy to avoid risk of a double-dip recession," he said. "Domestically, we need to focus on economic restructuring and transformation of economic growth pattern based on the stable growth of foreign trade."
The GAC attributed the March deficit to shrinking exports of labor-intensive products, surging imports and rising commodity prices.
"The deficit in March is neither a recession, nor can it be sustained," the GAC said in its report, adding the deficit was small and China had maintained a "basic balance" between imports and exports.
The GAC said the deficit accounted for only 3.1 percent of total trade volume in March, much lower than the 10-percent alarm level of a trade imbalance.
"The March deficit stemmed mainly from the fast growth of imports by China amid its efforts to increase imports against the backdrop of the global economic downturn," the report said. "China's efforts (to expand imports) helped with the recovery of world economy and demonstrated its role as a responsible country."
The GAC predicted China's trade surplus might continue to scale down and keep a trade balance for the rest of the year.
Zhao Jinping, an economist and researcher with the Development Research Center of the State Council, anticipated China's exports growth would slow in the second quarter because the base was too low in the first quarter last year when the world was in the middle of the global financial crisis.
Zhao estimated exports growth of 10 to 15 percent for the year, while imports growth would be slightly faster as China's economy had taken the lead in the world recovery.
China would post an annual trade surplus similar to or slightly narrower than last year's, he said.
The country recorded a trade surplus of 196.1 billion U.S. dollars last year, down 34.2 percent from 2008.
"We cannot be too optimistic and we still need in place those policies to stabilize external demand," he said.
GAC figures showed the surplus with the United States in March dropped 3.5 percent year on year to 9.87 billion U.S. dollars and that with the European Union fell 13.1 percent to 6.96 billion U.S. dollars.
However, China's March deficit with Japan more than tripled over the same month of last year to 6.53 billion U.S. dollars while its deficit with the Republic of Korea jumped 76 percent to 6.13 billion U.S. dollars.
The establishment of the ASEAN-China Free Trade Area on Jan.1 greatly boosted China's trade with the bloc, with ASEAN's trade surplus with China rocketing to 2.7 billion from 300 million U.S. dollars last year.
The Chinese mainland's deficit with Taiwan amounted to 7.9 billion U.S. dollars in March, up 78.7 percent year on year.
xuxu1457
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Seven Reasons to Thank China
Jim Cashe
Posted: April 12, 2010 03:53 PM
China receives a great deal of valid criticism in the Western press. The Chinese Government restricts free speech. Much of the internet is off limits. Pollution is a big problem. A weak currency depresses job growth in other countries. China has controversial policies regarding Tibet, Taiwan, Iran, border issues, and other topics.
As an American living in China, however, I am frequently struck that criticism of China is typically so simplistic as to be ineffective. If criticism is not embedded in a broader context, or if it doesn't at least reference a Chinese viewpoint, it comes across as naive and easy to dismiss.
As a start, we need to acknowledge -- or at least be aware of -- many things the Chinese have accomplished recently which merit global recognition. Here is a quick list of seven things I would thank China for as an American:
1) Alleviation of Poverty: The World Bank estimates that since 1981, over one half billion Chinese have moved out of abject poverty. There is no other government or program on the planet that can claim this magnitude of success. It is an enormous accomplishment.
2) Stability: China overall is a very stable and predictable country. There are obvious pressures in some regions (such as Xinjiang), but living and traveling in China shows an orderly, organized and relatively prosperous environment.
3) Population Control: China's "one child" policy since the late 70s is estimated to have resulted in 400 million less births by 2010. Few countries could have instituted such a policy, but all countries benefit from it.
4) Restricted Military: China has a powerful and growing military, including the world's largest army and a significant nuclear arsenal. That said, in 2008 China spent $85 billion on the military (the US spent $607 billion), has no overseas bases (the US has over 700), and has slowed the increase in military spending to below economic growth (7.5% in 2010).
5) Environmental Efforts: The environmental woes of China are well-rehearsed in the press (including the Chinese press). That said, China is now the largest investor in green technologies (twice the level of the US, despite half the economic size). The Chinese leadership has made a convincing priority of green programs. In Chengdu, where I live, the scooters are mostly electric, the taxis and buses are mostly natural gas, and public transport is heavily used -- including over 40 new high-speed electric rail lines now open or being built across the country.
6) Economic Growth: The Chinese economy has grown by over 9% per year average over 20 years. That represents a great deal of new wealth for the planet.
7) Great Products: Let's face it -- we Americans benefit hugely from cheap, high quality products made in China. I like my Nikes, I enjoy my wide-screen monitor, and I depend heavily on my iPhone.
The Chinese are proud of each of these points, and deservedly so. And while these accomplishments don't eclipse the fact that the US and China have legitimate and serious mutual complaints, it is appropriate to embed those complaints in a broader context. We should start by giving China credit where credit is due.
Jim Cashe
Posted: April 12, 2010 03:53 PM
China receives a great deal of valid criticism in the Western press. The Chinese Government restricts free speech. Much of the internet is off limits. Pollution is a big problem. A weak currency depresses job growth in other countries. China has controversial policies regarding Tibet, Taiwan, Iran, border issues, and other topics.
As an American living in China, however, I am frequently struck that criticism of China is typically so simplistic as to be ineffective. If criticism is not embedded in a broader context, or if it doesn't at least reference a Chinese viewpoint, it comes across as naive and easy to dismiss.
As a start, we need to acknowledge -- or at least be aware of -- many things the Chinese have accomplished recently which merit global recognition. Here is a quick list of seven things I would thank China for as an American:
1) Alleviation of Poverty: The World Bank estimates that since 1981, over one half billion Chinese have moved out of abject poverty. There is no other government or program on the planet that can claim this magnitude of success. It is an enormous accomplishment.
2) Stability: China overall is a very stable and predictable country. There are obvious pressures in some regions (such as Xinjiang), but living and traveling in China shows an orderly, organized and relatively prosperous environment.
3) Population Control: China's "one child" policy since the late 70s is estimated to have resulted in 400 million less births by 2010. Few countries could have instituted such a policy, but all countries benefit from it.
4) Restricted Military: China has a powerful and growing military, including the world's largest army and a significant nuclear arsenal. That said, in 2008 China spent $85 billion on the military (the US spent $607 billion), has no overseas bases (the US has over 700), and has slowed the increase in military spending to below economic growth (7.5% in 2010).
5) Environmental Efforts: The environmental woes of China are well-rehearsed in the press (including the Chinese press). That said, China is now the largest investor in green technologies (twice the level of the US, despite half the economic size). The Chinese leadership has made a convincing priority of green programs. In Chengdu, where I live, the scooters are mostly electric, the taxis and buses are mostly natural gas, and public transport is heavily used -- including over 40 new high-speed electric rail lines now open or being built across the country.
6) Economic Growth: The Chinese economy has grown by over 9% per year average over 20 years. That represents a great deal of new wealth for the planet.
7) Great Products: Let's face it -- we Americans benefit hugely from cheap, high quality products made in China. I like my Nikes, I enjoy my wide-screen monitor, and I depend heavily on my iPhone.
The Chinese are proud of each of these points, and deservedly so. And while these accomplishments don't eclipse the fact that the US and China have legitimate and serious mutual complaints, it is appropriate to embed those complaints in a broader context. We should start by giving China credit where credit is due.
xukxuk
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China's economy grew by 11.9 per cent during the first quarter of this year, raising hopes the country could revaluate the yuan.
The growth was higher than economists had expected, with China's government saying it had laid a "good foundation for reaching the targets set for the whole year".
Consumer price inflation was low at 2.2 per cent, according to China.
Li Xiaochao, spokesman for the National Bureau of Statistics of China said: "In the first quarter of 2010, all regions and departments effectively implemented the policies and measures set by the central party committee and the state council and firmly carried out the packages of policies on dealing with the international financial crisis, the momentum of national economic recovery has further expanded, which has laid a good foundation for reaching the targets set for the whole year.
"According to the preliminary estimation, the gross domestic product (GDP) of China in the first quarter of this year was 8,057.7 billion yuan, a year-on-year increase of 11.9 per cent, which was 5.7 percentage points higher than that in the same period last year."
In March Chinese premier Wen Jiabao said the growth of the rich-poor gap in China must be slowed and pointed to increased welfare spending as a means to do so.
China is expected to overtake Japan as the world's second largest economy this year after reporting good economic growth in the final quarter of 2009.
The growth was higher than economists had expected, with China's government saying it had laid a "good foundation for reaching the targets set for the whole year".
Consumer price inflation was low at 2.2 per cent, according to China.
Li Xiaochao, spokesman for the National Bureau of Statistics of China said: "In the first quarter of 2010, all regions and departments effectively implemented the policies and measures set by the central party committee and the state council and firmly carried out the packages of policies on dealing with the international financial crisis, the momentum of national economic recovery has further expanded, which has laid a good foundation for reaching the targets set for the whole year.
"According to the preliminary estimation, the gross domestic product (GDP) of China in the first quarter of this year was 8,057.7 billion yuan, a year-on-year increase of 11.9 per cent, which was 5.7 percentage points higher than that in the same period last year."
In March Chinese premier Wen Jiabao said the growth of the rich-poor gap in China must be slowed and pointed to increased welfare spending as a means to do so.
China is expected to overtake Japan as the world's second largest economy this year after reporting good economic growth in the final quarter of 2009.
P4Pakistan
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that's great , keep it up brothers, world need u !
P4Pakistan
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