China Economy

China’s new loans sharply down in Oct

China’s new Yuan-denominated loans in October were down 51 percent from September, the People’s Bank of China, the central bank, announced Wednesday.
Growth of the new yuan loans slowed to 253 billion yuan ($37.06 billion) from September’s 516.7 billion yuan ($75.68 billion), according to the central bank.
Yuan loans outstanding at the end of October were 34.19 [...]

China’s Q3 PE investments up 89% quarter-on-quarter

China’s private equity (PE) investments in the third quarter of 2009 increased by 89 percent to $2.88 billion from the earlier quarter’s $1.53 billion, according to data from CVSource, the online database system of investment consulting firm ChinaVenture.
The number of investments disclosed in the third quarter increased by 61.9 percent to 34 from 21 a [...]

China urban fixed-asset investment up 33.1% in first 10 months

China’s urban fixed-asset investment rose 33.1 percent in the first 10 months to 15.07 trillion yuan ($2.21 trillion), compared with the same period a year earlier, the National Bureau of Statistics (NBS) announced Wednesday.
The growth rate was 5.9 percentage points higher than that in the same period of last year, but 0.2 percentage points lower [...]

China’s agricultural product prices down 0.1%

Prices of agricultural products in 36 large and medium-sized Chinese cities dipped 0.1 percent in the week of Nov 2 to 8, compared with the previous week, according to figures released by the Ministry of Commerce

China’s retail sales up 16.2% in Oct

China’s retail sales in October rose 16.2 percent year-on-year to 1.17 trillion yuan ($171 billion), the National Bureau of Statistics (NBS) announced Wednesday.
The rise was 5.8 percentage points lower than that of a year earlier, but 0.7 percentage points higher than that in September, NBS spokesman Sheng Laiyun said at a press conference.
The first 10 [...]

Bank of China chairman warns fellow lenders

A top Chinese banker warned domestic banks to control the pace of lending flowing to infrastructure projects backed by local governments, citing concerns about the safety of massive loans being poured into public works construction projects nationwide this year.
Xiao Gang, head of the Bank of China, the country’s third-largest lender, said in a recent article [...]

Mainland ready to sign financial MOU with Taiwan: official

The mainland is ready to sign a memorandum of understanding (MOU) on financial supervision with Taiwan, said a government official in Beijing Wednesday.
Yang Yi, spokesman with the State Council Taiwan Affairs Office, did not give the exact time and place for the signing of MOU.
Yang said in a press conference that “as for the location, [...]

No change in current ‘loose’ monetary policy: PBOC

China doesn’t have a timeline for ending its “loose” monetary policy, a central banker said yesterday ahead of data likely to show the nation’s economic recovery is strengthening.
China will maintain its policy stance “at present”, Ma Delun, deputy governor of the People’s Bank of China, told reporters in Mumbai, speaking through a translator.
The banks have [...]

China suffers from protectionism: MOC

China has been badly affected by rising trade protectionism since the outbreak of the global financial crisis, a Ministry of Commerce official said over the weekend.
Some countries and regions increased exports after efforts to stimulate domestic consumption failed, and even depreciated currency and raised subsidies to improve the competitiveness of exports, said ministry spokesman Yao [...]

A genuine gesture

Premier Wen Jiabao greets the Fourth Ministerial Conference of the China-Africa Cooperation Forum before announcing China’s commitment of $10 billion to African countries on Saturday. Egyptian Prime Minister Ahmed Nazif looks on at the summit, held in his nation’s resort city of Sharm el-Sheikh. [Agencies]

Premier Wen Jiabao announced yesterday that Beijing would double the initial [...]

China’s imports, exports drop 10.7% in Oct

China’s imports and exports fell 10.7 percent in October year-on-year, but monthly exports exceeded $100 billion for a fourth straight month this year, the General Administration of Customs announced Wednesday.

Imports stood at $86.8 billion for October, a decrease of 6.4 percent compared with the same month last year, while exports dropped 13.8 percent to $110.8 [...]

China’s APEC role grows in stature

Comprising 21 countries and regions, it is one of the foremost economic groupings in the world. Together, the member economies of the Asia-Pacific Economic Cooperation (APEC) forum account for about half of global trade.
Into its 20th year, the forum continues to be one of the few meetings that gather leaders of Asia and the United [...]

China’s bank credit to rise about 20% next year: bank report

China’s bank loan will expand by 20 to 22 percent in 2010 to fuel the economic recovery, a leading Chinese bank predicted Sunday.
The new yuan credit balance issued by the commercial lenders is expected to reach 8 to 9 trillion yuan next year, according to the China Banking Development Report issued by the Bank of [...]

China’s CPI falls 0.5% in October, PPI down 5.8%

China’s consumer price index (CPI), a main gauge of inflation, dipped 0.5 percent year-on-year in October, the National Bureau of Statistics (NBS) said Wednesday.
The rate of decline was 0.3 percentage points lower than that in Septemper.
The producer price index (PPI), a major measure of inflation at the wholesale level, dropped 5.8 percent in October from [...]

Macao’s manufacturing sector registers decrease in 2008

The principal indicators of Macao’s manufacturing sector saw year-on-year decrease on account of shrinking domestic exports, according to the figures released on Tuesday by the city’s Statistics and Census Service (DSEC).
Value of Production and other receipts of local manufacturing sector dropped by 17.7 percent over 2007 to 11.4 billion patacas ($1.4 billion) last year, the [...]

China to launch anti-dumping, anti-subsidy probe into US autos

China’s Ministry of Commerce said Friday it had launched anti-dumping, anti-subsidy investigations into US-made off-road vehicles and sedans with engine displacements of 2.0 liters and above.
The decision was made after the China Association of Automobile Manufacturers (CAAM) filed an application for the investigations, the MOC said in a statement posted on its website.
CAAM, representing Chinese [...]

Policy to focus on steady growth, stable prices: think tank

A Chinese government think tank leader said on Thursday China’s macroeconomic policy in 2010 should focus on maintaining steady economic growth and stable prices.
Liu Shijin, deputy director of the State Council’s Development Research Center, made the statement at a forum in Beijing on the first anniversary of the introduction of the government’s 4-trillion yuan ($586 [...]

China hopes private sector to contribute more to battle crisis

China’s top political advisor Jia Qinglin on Friday said the non-public sector of economy should play a bigger role in countering the global financial crisis and maintaining a steady and relatively fast economic development.
Jia, chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), made the remarks during an awarding ceremony in [...]

Chinese economist calls for push on structural reform

Eight percent growth was no longer a problem for China’s economy this year, but the real challenge was to push forward structural adjustments, a senior economist said Thursday.
Yao Jingyuan, chief economist

China may slightly adjust macroeconomic policies: experts

One year after China launched the stimulus package and regained economic growth momentum, experts said the government was set to stick to pro-growth macroeconomic policies while making minor adjustments in the prospect of inflation.
Liu Shijin, vice director of the Development Research Center of the State Council, or China’s Cabinet, told a forum held Thursday that [...]